₦airaland Forum

Mbanda:
What sort of nonsense story is this? Bring down the fuel price to 180 a litre and you people are there telling angry Nigerians, how many barrels of crude una supply to dangote.

Nonsense!

You are on a long thing if you are expecting a litre to be sold for 180 naira.

Maybe you should consider opening your own private refineries with a firm choice to run at loss.

lexy2014:
which "market realities" be that?

are you living under a rock or are you sleeping and slumbering?

is it "market realities" that fixed price of fuel at N897?

keep shut kbjk.

Standing5:
keep shut kbjk.

which "market realities" be that?

are you living under a rock or are you sleeping and slumbering?

is it "market realities" that fixed price of fuel at N897?

dre11:
https://dailytrust.com/we-have-supplied-30m-barrels-of-crude-to-dangote-refinery-nnpcl/#google_vignette

Lolz waiting for Dangote refinery refuttal tomorrow morning.

That is literally nothing.

SmartPolician:
Why are nigerians not getting the fuel for N600? That's because the landing cost (I assume you know what this means) of refined PMS at our port is #1200 per litre. If the NNPC decides to sell anything less than that, it means the government is still paying subsidy. Since Tinubu has refused to pay the subsidy, NNPC is selling at half the price, thereby owing companies that supply PMS to Nigeria billions of dollars.

How does the naira affect the price? Crude oil is an international commodity traded in USD. In other words, even if I want to sell to you in naira, I will have to sell in naira equivalent. When Tinubu came in, the USD was about 600 or so. Now, he floated the naira; it's now one USD to #1600. Can you now see how we cannot get cheap PMS again?

The only way we can buy PMS for 160 is if the FG decides to dash 😂😂 crude oil to Dangote, which is impossible because the IOCs have joint partnership with the NNPC and ought to get a share for every drop of crude oil they extract.


Some background information
Nigeria is a member of OPEC, an international organisation that fixes prices for crude oil and gives her member nations their supply quota. It means that the price and quantity Nigeria sells in the international market is determined by OPEC.

Now, the IOCs (Shell, ExxonMobil, Chevron, etc) help Nigeria to extract this crude oil. NNPC represents Nigeria in this context. Once crude oil is extracted, the NNPC will determine the quantity Nigeria will sell to the foreign market according to OPEC requirements.

Afterwards, the NNPC will also determine the quantity we will refine locally in our 4 refineries. Unfortunately, these refineries aren't working now.

Since Tinubu has ordered the NNPC to sell crude oil to Dangote in naira, the NNPC will only sell the crude oil to Dangote according to OPEC price (because Nigeria is under their treaty).

However, the FG can intervene and say we are giving a subsidy to Nigerians. This means that instead of the NNPC selling the crude oil at say $100 per barrel (I am assuming this is the current price of crude oil) to Dangote, they will sell it at $80 per barrel.

In other words, the FG is dashing us Nigerians $20 for every barrel refined. Because the FG has done this, Dangote will now sell his PMS at say #600 - 700 per litre because he knows that if he imports it, he will buy it at $100 per barrel or even more.

All this requires a lengthy explanation, but I believe you understand this.

which "landing cost" has been added to dangote's fuel that has made it not to be available for N600?

with current exchange rate, what percentage of the N897 per litre of dangote fuel was determined by the devalued naira?

sorry, what has OPEC " background information" got to do with what I asked?

Obviouslyblunt:
Anyone notice the back and forth between the Dangote’s team and NNPC. This is the only way you can do business with this government else they’ll lie to the public and put you as the main reason for their own failure. You hold them accountable and report everything to the public as it occurs.

And what will the public do than to talk and talk and talk

CyrusVI:
"

They are fixing it from the top, you will start seeing the effect soon

Dont panic...we are almost there

Dey play
I think some of you are born in the 90s, you don't understand this entity called Nigeria

Niger delta crude oil.....

God bless Nigeria D0WL0AD latest latest powerful dj mix on our new mixtape blog >>> http://dj-mix-84578457.ohbah.com/ <<< foreign gospel reggae blues hip hop naija

How can people just be suffering increasingly and consistently since you came into power, Tinubu u can never die well!!!

Apparently that should get the refinery busy for around two months as they ramp up production to meet their full capacity gradually. We should even be good with steady supplies till year-end if, in truth, the two proposed batches of crude supplies are also dispatched to the facility in due time.
Surely, some lights are gradually climbing up the horizon to put a lasting end to the dark days.
GOD BLESS NIGERIA
GOD BLESS LASG AND THE HOST COMMUNITIES
WE RISE!

The Impact of the Dangote Refinery on the UK and European Markets
The establishment of the Dangote Refinery has significantly disrupted the European refinery products market by eliminating Nigeria, its primary importer. Previously, Nigeria’s importation of refined petroleum products not only met its domestic needs but also supported the West African market through subsidies and various smuggling operations. With the removal of these subsidies, West Africa is now experiencing the economic strain.

The production of refined petroleum products within Nigeria has created a competitive market. To counteract the influence of the Dangote Refinery, UK refineries may need to reduce their petroleum product prices, similar to the strategy airlines employed when Air Peace entered the market, drastically lowering ticket prices to compete.

As Nigeria strengthens its position as a leading African nation, the struggling UK economy might consider imposing import duties on petrol to support its policies and generate additional revenue. Energy producers could see increased profits due to the drop in oil prices, while Dangote is expected to maintain substantial profits, akin to Air Peace’s success.

Refineries in Europe will likely engage in competitive marketing to maintain their market share, helping Nigeria keep Dangote’s products competitively priced. Over the next decade, the Nigerian Naira is anticipated to appreciate, enhancing its economic influence.

For European refineries, a strategic response could involve dismantling existing refineries and establishing new ones in Nigeria. By obtaining licenses and competing directly with the Nigerian National Petroleum Corporation (NNPC) and Dangote in crude oil production and refining, European companies can break Dangote’s monopoly and secure a more stable future for their businesses.

Blazetrailer:
This was one o the reasons i laughed ouylt loud whn one idiot here kn nairaland named yinkkus was jubilating on the dangote refinery news.

Its a clash of interests...one of monopolies snd corrution ridden entities...if you can think deeper...as it is structured, it will never work. You cant subject a monopoly to state run structure and expect it to work...NEVER

Blazetrailer, na trailer go jam you, your mother is indeed an idiot, you silly myopic bastard, forget the shenanigans of devilish nnpc, having a local refinery, with supply of local crude in naira and direct access by local marketers is still an advantage of a sort to the country overtime and put aside the early gra gra of this evil nnpc, Dangote refineries is still advantage on the long run, the more local refineries the better, we all know Nigerians are stubborn corrupt & strong headed but a structural changes like this of Dangote refinery will still bring an advantage albeit a marginal or minimal one.
No thanks to the stubborn heads of people like you who put spanners in the works or put spoke in the wheels of progressive change, the positive change should be alarming but at all, at all we go still fine small.

osuofia2

See why we called you and idiot.

You are showing us the reason we referred to you as an idiot. It was not by accident, what you typed below is usually the musings of dafts.

yinkkus:
Blazetrailer, na trailer go jam you, your mother is indeed an idiot, you silly myopic bastard, forget the shenanigans of devilish nnpc, having a local refinery, with supply of local crude in naira and direct access by local marketers is still an advantage of a sort to the country overtime and put aside the early gra gra of this evil nnpc, Dangote refineries is still advantage on the long run, the more local refineries the better, we all know Nigerians are stubborn corrupt & strong headed but a structural changes like this of Dangote refinery will still bring an advantage albeit a marginal or minimal one.
No thanks to the stubborn heads of people like you who put spanners in the works or put spoke in the wheels of progressive change, the positive change should be alarming but at all, at all we go still fine small.

osuofia2

Blazetrailer:
See why we called you and idiot.

You are showing us the reason we referred to you as an idiot. It was not by accident, what you typed below is usually the musings of dafts.

Yes the more reason your mother is an idiot, egoistic and recalcitrant bastard, who is so daft and stubborn as if he has the knowledge and he doesn't.
Snitchy nuisance, report to your police as usual, I don't give a fvck on your mother.

Lol!


Its easy to spot someone who was brought up in the gutters. Oya, keep entertaining us, public fool.

Oya, oponuYinka respond , we want to confirm something

Yinkusgold:
Yes the more reason your mother is an idiot, egoistic and recalcitrant bastard, who is so daft and stubborn as if he has the knowledge and he doesn't.
Snitchy nuisance, report to your police as usual, I don't give a fvck on your mother.

Blazetrailer:
Lol!
Its easy to spot my mother who was brought up in the gutters. mama Blazetrailer keep entertaining us in the public, I your son is commanding you.

Omo ale, bastard like you, your mother is an idiot, I don't care about the gutter she was raised, all I know is your mother is a public nuisance, I just detected that the way you are ordering her around in the message above, olosi omokomo, snitchy bastard.

Ha ha ha!!

Oponu Yinka, oya keep showing us why you're the buffon of Nairaland.

Oya, respond, we want to reconfirm something again

Yinkusgold:
Omo ale, bastard like you, your mother is an idiot, I don't care about the gutter she was raised, all I know is your mother is a public nuisance, I just detected that the way you are ordering her around in the message above, olosi omokomo, snitchy bastard.

Blazetrailer:
Ha ha ha!!

Oponu Yinka, oya keep showing us why you're the buffon of Nairaland.

Oya, respond, we want to reconfirm something again

Omo ale not Trailblazer but Blazetrailer, na the trailer go jam you, apoda, ode, dindinrin, you are a mad man who is dancing before the mirror and call his image mad, you are the real mad person & you are a ridicule as long as you, mad man dance before the mirror, you will get response, bastard.

Odeyimika,
Oya, respond to my bait, we want to double check that you are an idiot

Yinkusgold:
Omo ale not Trailblazer but Blazetrailer, na the trailer go jam you, apoda, ode, dindinrin, you are a mad man who is dancing before the mirror and call his image mad, you are the real mad person & you are a ridicule as long as you, mad man dance before the mirror, you will get response, bastard.

Blazetrailer:
Odeyimika,
Oya, respond to my bait, we want to double check that you are an idiot

Blazetrailer na the trailer go jam you, mad man dancing before the mirror, a pronounced idiot.

Blazetrailer:
Ha ha ha!!

Oponu Yinka, oya keep showing us why you're the buffon of Nairaland.

Oya, respond, we want to reconfirm something again

Blazetrailer na trailer go jam you ooo, because your brain 🧠 no correct, Omo ale jati jati.