₦airaland Forum

LOL

CodeTemplarr:
Using N950 it sells for in Abuja and N1640 to a dollar, it a averages 0.58 USD per liter. Not so far from Buhari and GEJ era.

Yea not so far

But imagine for a second how salary earner since GEJ regime whose salary has remained same since then will find it excruciatingly difficult to cope now.

Don't tell me about talk of adding side hustle or extra source of income, those who do that are trying to absolve themselves from blame.

At this exchange rate you mentioned 0.58usd it translated to N85 per litre during GEJ regime which was by far more conveniently affordable back then, the only problems then was the occasional scarcity not that they couldn't afford it back then.

Now it is over times X10 of that amount. How insensitive can a government be? This increases have caused multiplier effect all across the entire nations economy with reverberations leading to inflation prices of goods and services flying high while take home earning remain the same.

The reality is that many, many people have now abandoned their cars for public transport. Big men and women of our society for the first time are now seen hoping into buses, public transport.

Women now enter the bush cut any green grass they see without knowing their name boil and started eating due to chronic hunger and inability to afford the most basic of the basic food due to PBAT insensitive policies.

Even pure water average Nigerian can hardly afford these days.

The govt has lost touch with reality, completely disconnected from the people.

Eteka1:
you do the math. How much is NNPC buying from Dangote and how much is NNPC selling. So where is the subsidy there?

Oga, please, don't make me laugh at you.

The real koko is that NNPC Is the only buyer of dangote fuel. Tinubu wants to be elected in 2027, and his company has an interest in NNPC.

Tell me, would they let fuel be sold at the real market price? Not when it means losing power?

You guys should not make me laugh today o...before someone thinks I should be committed.

Your government lies. Well well.

nairalanda1:
NNPC still not ready to remove subsidy, essentially.

The fact is, the government too wants to remain in power....and a subsidy removal means they get kicked out.

Subsidy still exists, folks.

How is subsidy existing with these prices?

CaptainJune:
Their supporters are the double victims in this situation. They have been proven to be the gullible while still suffering the consequences of their absence of thoughtlessness in voting massive scale corruption into power. May God help us all.

Honestly sir, these people are so wicked that all they care about is themselves and their cronies.

Early days. Let's be patient. It will drop to around N500 within a year.

Supply issues have to be taken care of first. Fuel go be like pure water soon.

Guz: The experiment was done for two-three weeks.

Even if they sell it @ N1,500/Litre, according to Rotimi Chibuike Amaechi, NigeriaNs will "NOT SAY OR DO NOTHING!"

It beats our imagination that the same NigeriaNs who protested,shut down everywhere during PGEJ's regime especially when he stopped subsidy & increased pump price of fuel with few naira extra, it beats our imagination, that the same NigeriaNs hv watched how APC-Govt increased pump price of fuel from N165/185 to N568 to N868 TO N950 & many selling at over N1k/Litre, "STILLYET" these Nigerians are exhibiting STOCKHOLM SYNDROME, shey no be BEWITCHMENT BE THIS?

NNPC is a big scam and many people still don't know

How can you sell them crude in naira and claim to buy the petrol in dollars This na see finish oh

This people want carry the money go heaven?

Na bovas fuel I buy 3days ago,6k..now the fuel don remain 3litres. At 900 oh.so what's the difference.abegi.till fuel drops,I won't exceed 6k fuel.

Nnpc trying so hard to be relevant, when they have 4 unworkable refineries.
The truth is that nnpc should be privatised or scrapped.

Mjshexy:
This wicked cesspit of corruption, this has been their plan all along

We told you,only a fool would expect anything less.....you need to learn how the world works and how everything on earth is related to each other......so you won't be caught off guard...... those of us smart enough to envisage this are already prepared.....work smart and not just hard!!

Kobojunkie:
Dangote, the Father Christmas and savior of the Nigerian people, don crash the price of Petrol in Nigeria. 😁😁😁😁

It's still cheaper than the landing cost for imported fuel....the stock he has,he bought in USD.....it's in Oct that that the naira crude would start hitting the refinery,we envisage a drop at that point.

dallyemmy:
Dangote charges premium of $0.03 per litre which at an exchange rate of N1600 to $1 translates to about N48 per litre based on the analysis above.

Well, I think the main issue is our exchange rate which is performing poorly at the moment. However, I hope the demand for Forex when it comes to importation of petroleum products has come to an end.

Moreover, government should ensure other refineries are available and producing as well.

It's really not funny. In fact, the current price of Premium Unleaded Gasoline 10 ppm FOB (free on board) MED (Platts) Futures is 773.162 USD — it has risen 0.42% in the past 24 hours. That means the price could even increase further.

That's per ton or per barrel?

Una never still wan protest? Okay oh

VeeVeeMyLuv:
Yea not so far

But imagine for a second how salary earner since GEJ regime whose salary has remained same since then will find it excruciatingly difficult to cope now.

Don't tell me about talk of adding side hustle or extra source of income, those who do that are trying to absolve themselves from blame.

At this exchange rate you mentioned 0.58usd it translated to N85 per litre during GEJ regime which was by far more conveniently affordable back then, the only problems then was the occasional scarcity not that they couldn't afford it back then.

Now it is over times X10 of that amount. How insensitive can a government be? This increases have caused multiplier effect all across the entire nations economy with reverberations leading to inflation prices of goods and services flying high while take home earning remain the same.

The reality is that many, many people have now abandoned their cars for public transport. Big men and women of our society for the first time are now seen hoping into buses, public transport.

Women now enter the bush cut any green grass they see without knowing their name boil and started eating due to chronic hunger and inability to afford the most basic of the basic food due to PBAT insensitive policies.

Even pure water average Nigerian can hardly afford these days.

The govt has lost touch with reality, completely disconnected from the people.

You have your points based on your perspective but those workers you are rooting for, are they really working?
Imagine all the idle earners in LGAs and States getting paid for doing nothing. Thata the primary cause of steady inflation-increase. Imagine if such battalion of idlers contribute just equivalent of $500 per annum to the economy, that means there will be more forex and naira will be much stronger compared to the N1650-N1700 range it is today. That will in turn drastically drive down prices of all things especially the imported ones and dollar priced things like crude and its final products.
The govt too have a part in that because they always want support of the idlers and most times lack the will the keep local production going.

LadiIshola:
Let's brace up for #1,000 per liter from independent marketers.
But why is Dangote trying to play hide and seek with the government and Nigerians? Was he expecting that the FG will continue to pay under-recovery on his fuel and make him save face? Come out and own up to your price, na you get your business abeg.
Which kind thing be this sef?

He bought the current crude stock in USD and that has to be factored into the pricing.....the naira crude arrangements only starts Oct 1st.....we are believing there would be slight adjustments on the price by then

Using an exchange rate of ₦1650/$, USA petrol price in the commodity exchanges right now is ₦805 per liter.

So NNPC is making a profit on petrol sales from today. As it should be. It's likely there will be no difference when NNPC buys in naira. In fact it may turn out worse if Government prints new naira to buy petrol from Dangote Refinery.

And of course NNPC is owned by the Federal Government AND it is the sole buyer so there's surely some corruption going on.

We welcome Nigerians to the reality of paying full price for petrol.

No matter what, living in Nigeria is still better than living in the UK.

Good Luck to Nigerians.

yinkus6750:
Cos of high exchange rate, price of PMS is at 1k. Despite refining at home.
Both parties of cashed out.
Using Nigerians to cash cruise

Dangote is a business and not a charity..... check the breakdown on how they arrived at the price of which I don't see anything untoward about that.

dallyemmy:
Tell the righteous it shall be well.

It shall be well with us.

LadiIshola:
Let's brace up for #1,000 per liter from independent marketers.
But why is Dangote trying to play hide and seek with the government and Nigerians? Was he expecting that the FG will continue to pay under-recovery on his fuel and make him save face? Come out and own up to your price, na you get your business abeg.
Which kind thing be this sef?

Dangote owns the business. But the Government owns his CV.

Mjshexy:
This wicked cesspit of corruption, this has been their plan all along

We should stop complaining and move emass to the street even if it means tearing the country down

LadiIshola:
Let's brace up for #1,000 per liter from independent marketers.
But why is Dangote trying to play hide and seek with the government and Nigerians? Was he expecting that the FG will continue to pay under-recovery on his fuel and make him save face? Come out and own up to your price, na you get your business abeg.
Which kind thing be this sef?

..the fuel in Nigeria is regulated...which means the government is the one that gives out the price and controls the price

Then what was the essence of the refinery if fuel will still be expensive even when it's produced here in Nigeria...no freight costs, noinsurance costs, no import duty levies, no landing costs and other costs and expenses involved in importing fuel... Nigeria under Tinubu one step forward two steps backwards

Lithiumite:
Dangote is a business and not a charity..... check the breakdown on how they arrived at the price of which I don't see anything untoward about that.

Are u kidding me?

What determines international market of PMS? Is it not dollar? If dollar aren't source at Dangote refinery why should the citizens pay more for a product that's God given which should be added advantage to our well-being? If we troop to the street in a more determined manners all these rubbish will stop. this is wickedness.

It's the exchange rate that determines the price of fuel...if the dollar crashes against the naira the price of fuel will be cheap.. like 300 naira to a dollar..but if the dollar is rising against the naira like now 1,600 naira to a dollar the price of fuel will be expensive as you can see the price NNPC is giving out now ..950 naira per liter

Pms shouldn't sell more than #90 per liter. They are just scamming Nigerians

Godszilla:
God actually exist n not white or black but not in the form we were told. We c God in everything we do on a daily basis but somehow we expect him to break His own laws n principles for us. God=Law

"Heaven n earth will pass for my word to com back void" that's the God we are dealing with. U don't expect God to intervene after u have used your free will(vote).

For every action there is an equal n opposite reaction,u reap wot you sow - divine laws. Pray all u wan, curse all the government officials won't change a thing,its the law.

The tragedy here is it won't even get beta until the people change course. This is what hell is,Nigeria is Hell

hope u know these politicians are manipulative ...

IbeOkehie:
Using an exchange rate of ₦1650/$, USA petrol price in the commodity exchanges right now is ₦805 per liter.

So NNPC is making a profit on petrol sales from today. As it should be. It's likely there will be no difference when NNPC buys in naira. In fact it may turn out worse if Government prints new naira to buy petrol from Dangote Refinery.

We welcome Nigerians to the reality of paying full price for petrol.

No matter what, living in Nigeria is still better than living in the UK.

Good Luck to Nigerians.

Excuse me, isn't it supposed to be ₦1650+/L?

Never4getU:
Are u kidding me?

What determines international market of PMS? Is it not dollar? If dollar aren't source at Dangote refinery why should the citizens pay more for a product that's God given which should be added advantage to our well-being? If we troop to the street in a more determined manners all these rubbish will stop. this is wickedness.

...if the dollar exchange rate in Nigeria now is 1600 naira to a dollar the price of the fuel will be expensive..so it's for the federal government to see how the dollars has to crash...to appreciate the naira and make it have value against the dollars...if the dollar exchange rate is maybe like 300 naira to a dollar the Price of the fuel will be very cheap..so it's the naira that is depreciating everyday against the dollars and the dollars rising every time

Hmmmm.....Tinubu is a big disappointment to the yoruba and those who voted for him.