₦airaland Forum

Nigerians have just been scammed. That is what Dangote was pushing for with NNPC. They both finally scammed us . After making a behind doors deal. The so called refineries will start in August was blackmail tool to Dangote and he feared and started making noise to save his business. Last last who won who loose. Dangote cement is also owned by Dangote who made a killing from his cement and plans to do same with his refinery with collabo of NNPC.
Where is consumer protection? NLC? Anyone making noise against Dangote will be paid from what I am seeing in all this show

Absolutely

Zionmdde:
If you think the total cost of imported fuel was less than 1500, then you are mistaken

Nnpc was paying subsidy on a low key, that was the reason fuel price was what it was

The new price of dangote is the true price without subsidy

Are you sure? Even when the crude wasn't imported? What's the price of a barrel of crude oil?

Ijaya123:
What's stopping IPMAN from importing and selling at a cheaper rate?



Not anymore. It has been deregulated.

Pls define deregulation and tell me who, how and when it was deregulated.

If there is deregulation, how come nnpc is fixing price?

Is that your definition of deregulation?

Zionmdde:
If you think the total cost of imported fuel was less than 1500, then you are mistaken

Nnpc was paying subsidy on a low key, that was the reason fuel price was what it was

The new price of dangote is the true price without subsidy

U did not ask urself d simple question,wut made landing cost within months to shoot up sporadically while tinubu assumed office and it was reasonably stable with buhari....
Let me educate ur block tribal head
The answer is simple: WRONG APPLICATION OF SAME SUBSIDY REMOVAL OK...WITH. A FEW OTHER INHUMANE POLICIES,
Nigerians and u are not d ones to b slaughterd on d auspice of MAKE SACRIFICES,D LEADERS ARE D ONES....they are even much more financially endowed as a result of d bad policies

Ijaya123:
Can you mention one country that sells petrol at the equivalent of N200 per liter?

can u mention one country that has crude oil that pays 70k minimum wage

Zionmdde:
If you think the total cost of imported fuel was less than 1500, then you are mistaken

Nnpc was paying subsidy on a low key, that was the reason fuel price was what it was

The new price of dangote is the true price without subsidy

You are doing guesswork, nothing more. Did your comment explain why NNPCL made itself the sole buyer of DR petrol?
If petrol is 1500 naira litre without subsidy, was that mean Buhari was paying N1300 per litre as subsidy? When government itself made it clear that amount of subsidy per litre wasn't the problem but the amount of litres of petrol that importers were claiming to have imported.
How much is barrel of crude oil that a litre of petrol won't be less than N1500?

Yourprick:
https://www.channelstv.com/2024/09/16/it-doesnt-make-sense-for-nnpcl-to-sell-dangote-petrol-higher-than-imported-ones-ipman/

Ipman is wrong ...this is new price of petrol without subsidy.IPman should tell us they want to keep importing so they can make useless claims on subsidy of petrol they send to cotonou to sell.So they want to pretend they didnt know nnpc has been paying subsidy?what i expected dem to say is nnpc should pay dangote some percentage subsidy to reduce d price of pms

maasoap:
You are doing guesswork, nothing more. Did your comment explain why NNPCL made itself the sole buyer of DR petrol?
If petrol is 1500 naira litre without subsidy, was that mean Buhari was paying N1300 per litre as subsidy? When government itself made it clear that amount of subsidy per litre wasn't the problem but the amount of litres of petrol that importers were claiming to have imported.
How much is barrel of crude oil that a litre of petrol won't be less than N1500?

Dollar skyrocketed
From 400 during buhari time to 1600 today
Petrol is sold in dollars not naira. Transportation cost is in dollars too

Putting all those factors together, petrol won't be less than 1500 per litre.

DeLaRue:
It makes over five trillion naira sense.

That's how much it cost every year for NNPC/Nigeria to subsidise in order to keep petrol price at around N600.

And it was borrowed money that future generations will have to pay back.

Remove all petrol subsidy and let us pay the market price.

Mr Jonathan or Mr Buhari removed kerosene subsidy. People wailed that heavens will fall. It has not fallen.

Either Mr Buhari or maybe it was Mr Jonathan removed diesel subsidy. Businesses wailed that heavens will fall. Heaven hasn't.

If petrol subsidy is removed, and the country stops the bone-headed, stupid borrowing to pay for subsidy, it will be to the long term benefit of Nigeria. And heavens will still not fall.

Infact, I suspect heavens will smile and say, finally, sense got to these ones.

shut up

How many times will this subsidy be removed..

Ask yourself, The government never told you they're paying subsidy since Tinubu announced on his inauguration that" subsidy is gone"

Bookmark this, Fuel prices will still go up and you'll say this same shit again..

Shut up

DeLaRue:
On this particular deal, it is difficult to see what NNPCL has done wrong.

They have negotiated to get the best price they can get from Dangote, and from the pricing information they published this morning, NNPC are not really profiting much from this deal.

Laughing. The same NNPCL that announced new price nationwide before even discussing the price Dangote refinery?
Why would Dangote refinery come out and call NNPCL a liar if the price announced by them is what Dangote sells to them? They have inflated the price that Dangote is selling to them, no doubt about that.

The same marketers that you are attacking now projected N600 per litre with the coming on board of DR before NNPCL hijacked everything and turned it into a secret deal

Xkonzult:
U did not ask urself d simple question,wut made landing cost within months to shoot up sporadically while tinubu assumed office and it was reasonably stable with buhari....
Let me educate ur block tribal head
The answer is simple: WRONG APPLICATION OF SAME SUBSIDY REMOVAL OK...WITH. A FEW OTHER INHUMANE POLICIES,
Nigerians and u are not d ones to b slaughterd on d auspice of MAKE SACRIFICES,D LEADERS ARE D ONES....they are even much more financially endowed as a result of d bad policies

If I ask you which tribe am from now, you will say yoruba. Anyway that's not my business
I stated the fact that without subsidy imported fuel won't cost less than 1500. The rise in landing cost you tried to rudely explain didn't negate my statement but tried to posit a causal effect.

Franking:
Are you sure? Even when the crude wasn't imported? What's the price of a barrel of crude oil?

Check Google
Convert the Google price to naira
Add processing cost in dollars and convert to naira
Do the same for transportation cost
And let's see what you got

DeLaRue:
It makes over five trillion naira sense.

That's how much it cost every year for NNPC/Nigeria to subsidise in order to keep petrol price at around N600.

And it was borrowed money that future generations will have to pay back.

Remove all petrol subsidy and let us pay the market price.

Mr Jonathan or Mr Buhari removed kerosene subsidy. People wailed that heavens will fall. It has not fallen.

Either Mr Buhari or maybe it was Mr Jonathan removed diesel subsidy. Businesses wailed that heavens will fall. Heaven hasn't.

If petrol subsidy is removed, and the country stops the bone-headed, stupid borrowing to pay for subsidy, it will be to the long term benefit of Nigeria. And heavens will still not fall.

Infact, I suspect heavens will smile and say, finally, sense got to these ones.

Spot on, very well said.

Frezhkid10:
The arrangement is NNPC will provide the crude in naira and buy back the petrol gotten from the crude sold to them..
All other marketers buy from NNPC so to be sure that it is consumed in naira..
We can’t be giving dangote crude at a discounted price and he will now sell to neighboring countries and make huge profit..
If he wants to sell to neighboring he will by crude at the official price and in dollars!!

I thought the crude is supplied to dangote at Naira equivalent of the dollar rate the crude is currently sold not discounted as you claimed.
if what you stated is true then it makes sense but if otherwise I believe any of the independent marketer should also have access to the off-taking of the product.

Spot on✅✅
# eBOLA has only come to STEAL, KILL AND DESTROY 💯

Zionmdde:
Do you know what is crude/Petrol swap? During this kind of swap, some concessions can be made during that transaction. Can independent marketers offer that?

Dont you think those concessions should be made open?

Shadomaan7:
The price is gradually coming down. (We are getting there 😂)

We have been hearing that since 1960

Zionmdde:
If you think the total cost of imported fuel was less than 1500, then you are mistaken

Nnpc was paying subsidy on a low key, that was the reason fuel price was what it was

The new price of dangote is the true price without subsidy

They will still subsidise it, no mater what

Iamanoited:
DANGOTE SHOULD FIX N450 PER LITER AS WHOLESALE PRICE AND N500 PER LITER AS RETAIL PRICE FOR PETROL.
A MARGIN OF N50 PER LITER IS ENOUGH DISCOUNT TO OPERATE WITHIN.

How would Dangote recoup running cost and enough profit to repay $Billion loans he took to build the Refinery?

drLammy:
I thought the crude is supplied to dangote at Naira equivalent of the dollar rate the crude is currently sold not discounted as you claimed.
if what you stated is true then it makes sense but if otherwise I believe any of the independent marketer should also have access to the off-taking of the product.

I agree too, everyone should buy in naira as far as they are located in Nigeria not just Dangote

DeLaRue:
Exactly.

They have been an albatross around the neck of vehicle owners for years.

They hoard fuel.
They never disclose the true price they buy at.
If they don't get their way, the create artificial scarcity so they can sell at outrageous prices.

Nigerians have been at their mercy all these years.

The fact that any vehicle owner will side with them is unbelievable.

ÑNPC filling stations are always cheaper than them.

I support NNPC.

Same NNPC that met the government to recoup its shortfall for selling at a lower price?

Is this a joke?

Is this spiritual pastor adeboye..this is self punishment..intentional affliction on people..we refuse to vote ya, this is the result..

DeLaRue:
It makes over five trillion naira sense.

That's how much it cost every year for NNPC/Nigeria to subsidise in order to keep petrol price at around N600.

And it was borrowed money that future generations will have to pay back.

Remove all petrol subsidy and let us pay the market price.

Mr Jonathan or Mr Buhari removed kerosene subsidy. People wailed that heavens will fall. It has not fallen.

Either Mr Buhari or maybe it was Mr Jonathan removed diesel subsidy. Businesses wailed that heavens will fall. Heaven hasn't.

If petrol subsidy is removed, and the country stops the bone-headed, stupid borrowing to pay for subsidy, it will be to the long term benefit of Nigeria. And heavens will still not fall.

Infact, I suspect heavens will smile and say, finally, sense got to these ones.

The effect of subsidy removal on gas and kerosine was not really felt because they already have substitutes. Kerosine had gas as substitute while Diesel had Petrol as substitutes. If nigerian went full fledge on making CNG available, then subsidy removal on fuel will be like a mosquito bite to us

drLammy:
Dont you think those concessions should be made open?

Ok lemme break it down a little

NNPC doesn't pay cash for petrol neither will dangote pay cash to buy crude oil. As long as dangote is selling to Nigeria, that's the best business model he can use. Independent marketers cannot offer that.
The concessions maybe reducing the price of crude and in turn getting discount on petrol. If Independent marketers enter the business, you can't buy petrol from them less than 1300

Ask yourself when has Independent marketers ever sold cheaper than nnpc? They were selling 850 when nnpc was still selling 591. Have you asked why?

Iamanoited:
DANGOTE SHOULD FIX N450 PER LITER AS WHOLESALE PRICE AND N500 PER LITER AS RETAIL PRICE FOR PETROL.
A MARGIN OF N50 PER LITER IS ENOUGH DISCOUNT TO OPERATE WITHIN.

Wow. This is amusing.

Teymanhenry:
The effect of subsidy removal on gas and kerosine was not really felt because they already have substitutes. Kerosine had gas as substitute while Diesel had Petrol as substitutes. If nigerian went full fledge on making CNG available, then subsidy removal on fuel will be like a mosquito bite to us

How much does it cost to make CNG available? Is it something every recharge card seller and pure water salesperson can do?

Zionmdde:
Dollar skyrocketed
From 400 during buhari time to 1600 today

Who to blame other than Tinubu? He came and floated Naira without even stepping into the office first, without knowing what was on ground. He doubled the revenue and allocations but expenses also increased by multiple of four or higher in some cases.

Petrol is sold in dollars not naira. Transportation cost is in dollars too

Putting all those factors together, petrol won't be less than 1500 per litre.

And now that both crude oil and petrol will be sold in naira, what is the excuse again?
These people and organisation are corrupt elements, we all knew

It doesn't make sense too,to be ranting on what Una did not Produce.
If you IPMAN had been Strategic all these years/ Decades,with all the Money/ Funds Una de Steal, together with NNPC Crooks,Nigeria will be like Dubai by now.
But because some of you people are just not concerned about the Nigeria Future,the Youths Future, together with NNPC,you don't want Nigeria to move forward!
What business has NNPC,other than Fixing Prices - nothing more!
Nigeria-has been Scammed on Oil Matters a long time.
Why do some of IPMAN Members buy Fuel low in Nigeria and go to Far North and Across the Borders-- to Sell it Higher- is that not Unpatriotic?
Una should leave Dangote Alone!

maasoap:
Who to blame other than Tinubu? He came and floated Naira without even stepping into the office first, without knowing what was on ground. He doubled the revenue and allocations but expenses also increased by multiple of four or higher in some cases.



And now that both crude oil and petrol will be sold in naira, what is the excuse again?
These people and organisation are corrupt elements, we all knew

Ok 1st I have no business supporting tinubu

Second
Nnpc cannot sell crude oil in naira. They will only convert it from dollar equivalent to naira. Example if 1barrel of crude is $70, nnpc will sell to dangote at maybe 70 x 1600naira.

Reason is that over 90% of all expenditures in oil and gas is made in dollars. Equipment, maintenance, personnel etc. Total, chevron etc benchmark all personnel expenses to Dollars. So there is no way they can sell in naira. If nnpc sell Nigeria's share of petrol cheap, how will they respond to dollar investments required to keep the oil flowing?

Let the mischievous Dangote Group of ingrates tell us how much they are selling to NNPC not castigating and challenging any single NNPC statement. Telling us they would flood the market but nothing on pricing

It's exactly same thing Dangote did with cement. Half truths.

DeLaRue:
It makes over five trillion naira sense.

That's how much it cost every year for NNPC/Nigeria to subsidise in order to keep petrol price at around N600.

And it was borrowed money that future generations will have to pay back.

Remove all petrol subsidy and let us pay the market price.

Mr Jonathan or Mr Buhari removed kerosene subsidy. People wailed that heavens will fall. It has not fallen.

Either Mr Buhari or maybe it was Mr Jonathan removed diesel subsidy. Businesses wailed that heavens will fall. Heaven hasn't.

If petrol subsidy is removed, and the country stops the bone-headed, stupid borrowing to pay for subsidy, it will be to the long term benefit of Nigeria. And heavens will still not fall.

Infact, I suspect heavens will smile and say, finally, sense got to these ones.

You think Nigeria's problem is not subsidy payments but corruption and lack of innovative ideas. Every working economy in the world pay one form of subsidy or the other to make life easier for their citizens.