₦airaland Forum

The minority, the minority, the minority

oluwaseunamos33:
I can confirm it through this your comment that you be mumu.

Thank you Mr wiseman wen no be mumu.

Nigerians believe and chose lies in apc, and the lies have come to haunt them. Life is about choices. We live with the choices we made.

CodeTemplarr:
Is Dangote the impregnator of your mum?

This has nothing to do with Dangote but common sense! I just asked u a simple question, stop trying to evade it! You said the average cost of fuel in most nations is high & I asked what is the average minimum wage in those nations? You can't be comparing spending cost without earning capacity? Use your brain, if u don't have one, then keep shut instead of posting nonsense! Your Country is among the poorest in the world, yet u are comparing it to nations that are taking good care of her citizens in terms of fuel price?? Are u that senseless?

jayce232:
This has nothing to do with Dangote but common sense! I just asked u a simple question, stop trying to evade it! You said the average cost of fuel in most nations is high & I asked what is the average minimum wage in those nations? You can't be comparing spending cost without earning capacity? Use your brain, if u don't have one, then keep shut instead of posting nonsense! Your Country is among the poorest in the world, yet u are comparing it to nations that are taking good care of her citizens in terms of fuel price?? Are u that senseless?

Morónic thing. Fuel in stations has gone through middlemen. The cost from refineries was what i referred to. Is Dangote the impregnator of your biological mother? Between you and Dangote, there is NNPCL and OVH and Govt.

CodeTemplarr:
Better response. Dangote is a private man

Did I hear you saying lawmakers they're better known for selfish, self centered and self interest. lawbreakers these civilian government's are absolutely fraud from top to bottom. Democracy has happened to us all. Military built all the refinery in Nigeria. Fact-Check.

malali:
Dangote Refinery: Why Cheap Petrol is a Mirage

Nigerians are eager for Dangote’s refinery to reduce fuel prices, but let’s pause and ask: how realistic is that? Aliko Dangote didn’t produce cheap cement, despite getting limestone for free, along with tax concessions, import waivers, and free land to build his cement factories. Now, we expect him to magically produce cheap petrol after spending $100 million on land and $20 billion to build the refinery. That’s a fantasy.

The only way Dangote can produce petrol at a lower price is if he gets crude oil at subsidized rates. But even then, what stops him from selling that fuel abroad, where the profit margins are better, or smuggling it out through illicit channels? Without government oversight, subsidized crude will likely benefit his business more than the average Nigerian consumer.

In reality, we might find Dangote’s petrol more expensive than the imported fuel we currently rely on. Why? The cost of building such a massive refinery, the debt to finance it, and the global oil market all play a role. Oil refining is a capital-intensive business. Dangote will need to recoup his $20 billion investment, and that burden will fall on consumers.

Rather than expecting Dangote to rescue us with cheap petrol, we need policies that address the inefficiencies in Nigeria’s energy sector. Until we deal with smuggling, subsidies, and the real costs of production, hoping for affordable fuel from Dangote is just wishful thinking.

Blunt truth 🔥💯. We need a stronger Naira now. You've said it all, nice piece though

Anither563:
They should have engaged the lawmakers first before making this statement. The lawmakers are acting in the interest of the public and deserve our support.

It not about what are define to do, from a realistic point of view are lawmakers serving the public or just working for there own interest

if you insist they are acting in the interest of the people how about you tell one punishment the reps have shielded or mitigated from landing directly on Nigerians.

How can the reps protect our interest effectively when we are worlds apart, most can't even relate with the reality of people they claim to represent

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

..... How much are the couple tries paying as minimum wage?

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

Please show empathy on the poor as it is obvious you do not have one?

Also I am not sure you listened to yourself while typing this

my two cents

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

Most of you are just daft on this platform.
Comparing Nigeria whose earning per hour is among the top 10 lowest, it's very pathetic.

It's okay to be daft, abusing it isn't okay.

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

The problem is that we do not know how to compare constructively.
Constructive comparison is comparing apple with apple and not apple with mango.

Those countries you are making reference to,how is their economy?
Is Nigeria economy same with their own?
How much is 1$ to their currency and how much is 1$ to 1 naira?


Economic factors should inform your comparison.

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

Senseless Human Use your last 2 braincells well

We need to bring back death by firing squad. I hope your purse and stomach are filled with whatever palliatives you were given. You open your mouth and spew utter nonsense.

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

SadiqBabaSani:
Tinubu will do anything to make sure NNPC continue importation of pms

Why politicising everything?

ogododo:
https://dailypost.ng/2024/09/17/nnpcl-dangote-fuel-price-outrageous-exploitative-reps-minority-caucus/

Add they are also selling the crude to him in naira and not usd

Y'all thought he'd save you lol

ogododo:
https://dailypost.ng/2024/09/17/nnpcl-dangote-fuel-price-outrageous-exploitative-reps-minority-caucus/

Nnpc says dangote full is substandard and has not refuted such statements.

Nnpc says dey don't have license to operat yet.


All of a sudden nnpcl want to buy all dangote substandard fuel.

They want to dictate price 4 dangote.

They are not talking of billions spent to repair 4 refinery in 15yrs.

They are ready 4 dangote .

SadiqBabaSani:
Tinubu will do anything to make sure NNPC continue importation of pms

Can't you see that president tinubu is not saying anything. We don't have leaders in this country, God pls help us

You go just open waa dey spill rubbish. What a product of rape

CodeTemplarr:
Minority doesnt mean you must sound like a pained loser. How much are other refineries around the world selling on the average?

CodeTemplarr:
Refineries are businesses and Dangote is a businessman like many others here.

A businessman who is capitalizing on the collective gain of the FG and the masses.

Notice how Dangote almost seem to have monopoly on any business he ventures into?

NNPC that belongs to the government is now a middleman.

No Shame.

ShaqFu:
A businessman who is capitalizing on the collective gain of the FG and the masses.

Notice how Dangote almost seem to have monopoly on any business he ventures into?

he didnt stop anyone from venturing into same business h ia into. BUA is building petroleum refinery too. He has flour, sugar, spaghetti and cement business too like Dangote. Face your govt.

nnpc and tinupoo eni kure.

We know, how about actually doing something about it. Justify the 21m free money you get everymonth for sleeping on the job.

where are all those dangote supporters now ?

Mnewton:
October 1st loading

NOTHING will happen. At the end of the useless "protest" Nigerians will continue paying whatever price for their petrol just like they pay for kerosene and LPG gas and diesel.

Good Luck to Nigeria

The hope of a country on one individual refinery!! This situation is scary! Why cant FG fix the other government-owned refineries?!!

jayce232:
This has nothing to do with Dangote but common sense! I just asked u a simple question, stop trying to evade it! You said the average cost of fuel in most nations is high & I asked what is the average minimum wage in those nations? You can't be comparing spending cost without earning capacity? Use your brain, if u don't have one, then keep shut instead of posting nonsense! Your Country is among the poorest in the world, yet u are comparing it to nations that are taking good care of her citizens in terms of fuel price?? Are u that senseless?

Oga,
What does your average minimum wage have to do with the price of oil? It is irrelevant. All the countries surrounding Nigeria pay a market reflective price for petrol, and they are all poorer than Nigeria.

The primary reason why Nigerians want the subsidy is simply because they are used to it. It is destroying the economy. The government is borrowing to supply you subsidized petrol. Now, the cost of servicing the debt as at 2022 was more than 100% of government revenue.

Can you explain what the bolded means?

How is the petrol subsidy impoverishing and destroying the economy?

1. It forces government to borrow money to finance it. During Buhari's tenure, he resorted to ways and means, that is borrowing from the CBN. The problem here is that the CBN prints the money and it is not only inflationary, but also adversely affects the rates of Naira. That is why the Naira crashed from about$1- 200 Buhari met it to around N650 when he left. That 650 was not even the true value of the Naira as the CBN had $7bn of unfulfilled contracts. Entities had paid for forex, but the CBN had no forex to supply them. That means it sold them the fx far cheaper than its real value.

Huge government borrowing will lead to the devaluation of the Naira. If you want the petrol subsidy intact, don't be surprised the Naira falls to between 2,500-3,500 by 2027.

2. Where the petrol subsidy really does damage is that it discourages investment in the downstream sector of the economy.

If the price of petrol had been deregulated long ago, it would have encouraged massive investments in refining plants. By now, the country would probably be refining between 2.5-3mbpd of oil.

Just look at Dangote. He has been unable to produce petrol because it is sold below the market price. Many Nigerians were of the wrong notion that once Dangote refinery was ready, the price of petrol he produces would be so cheap, that there would be no need for a subsidy.

How is that possible? At $75, per barrel for crude oil, when we divide it by 159 litres, we will get how much each litre of crude oil cost when you multiply it by 1,600, you get 750/litre. If a litre of crude oil is sold at 750/litre, how will he sell now sell refined petrol at N600? I haven't even added refining cost.

Up to 20 refinery licenses have been disbursed since 1999. The only ones built were very small private refineries and they focused only on diesel, because the prices aren't subsidized by government, and the price has been fully deregulated.

If Nigeria was producing over 2.5m bpd, its economy would probably be triple the size it is today.