₦airaland Forum

Data from S&P Global Commodities at Sea shows that only 280,400 barrels gasoline (aka petrol) and blendstock were imported into Nigeria during the week ended 6 October 2024.

This marks a sharp 78.4% decrease from the average weekly 1.3 million barrels imported in August 2024.

According to the report, during the week ended 13 October, only one product tanker was reported to have shipped gasoline to Nigeria, with 290,567 barrels ex-Antwerp to Lagos.

These dual shipments in October are markedly lower than the 12 cargoes dispatched in the first halves of August and September 2024.

Since October 8, no additional petrol shipments have been brought into Nigeria.

The sharp decline in petrol imports is attributed to the coming onstream of the 650,000 barrels per day Dangote Refinery’s crude oil processing unit.

When it reaches full capacity, Dangote Refinery will meet local fuel demand with excess for export to neighbouring African countries and the Caribbean, thereby disrupting Nigeria’s petrol import market.


SOURCE
https://naijaphilia.com/blog/2024/10/17/did-you-know-nigerias-petrol-imports-have-dropped-78/

This news will not go far. It's not the kind of news Obi supporters like.

This is stupid and unnecessary. If it doesn't result in a significant decrease in the price of fuel, how does it concern the masses?

That's the same noise the bastard APC Buhari and his crew made about how rice imports had reduced after their border closure policy and how they were empowering so called local farmers.... Only for the useless local rice which is vastly inferior in quality by an order of magnitude to end up becoming far more expensive than the imported rice, and then things spiralled out of control.

So we are not impressed by high sounding metrics which do not directly improve the standard of living/cost of living of ordinary Nigerians.

NaijaphiliaBlog:
■ Since October 8, no additional petrol shipments have been brought into Nigeria.
The sharp decline in petrol imports is attributed to the coming onstream of the 650,000 barrels per day Dangote Refinery’s crude oil processing unit.
When it reaches full capacity, Dangote Refinery will meet local fuel demand with excess for export to neighbouring African countries and the Caribbean, thereby disrupting Nigeria’s petrol import market.

What the report does not state though is how much of the Dangot's refined crude is obtained locally— the naira-for-crude deal — meaning that Nigerians can expect to pay lower prices at the pumps. At least that is what Dangote himself promised would happen.

Okoroawusa:
This news will not go far. It's not the kind of news Obi supporters like.

Keep Obi and his supporters out of your filthy mouth

Kobojunkie:
What the report does not state though is how much of the Dangot's refined crude is obtained locally— the naira-for-crude deal — meaning that Nigerians can expect to pay lower prices at the pumps. At least that is what Dangote himself promised would happen.

I have a question oo
What if dangote wakes up one morning and decides to increase the price of his fuel to 2k and says if una no wan buy make una leave
Wetin we go do?

So why does naira keep crashing

Okoroawusa:
This news will not go far. It's not the kind of news Obi supporters like.

So suddenly the 25milloon litres per day as said to be what dangote produces is now 78% of Nigeria's PMS needs.


".....The jigsaw puzzle surrounding the quantity of petrol, otherwise called Premium Motor Spirit (PMS), Nigeria consumes daily just got more puzzling as Sunday Vanguard understands that the figure went down to about 30 million liters per day after President Bola Tinubu’s ”subsidy is gone” statement of May 29, 2023 only to dramatically return to more than 60 million liters....."

https://www.vanguardngr.com/2024/09/pms-puzzle-petrol-nigeria-consumes-daily-dropped-to-about-30m-liters-then-dramatically-went-up-to-over-60m/#google_vignette



Brainlessness and senselessness no good at all.

Has scarcity ended??

Zaheertyler:
■ I have a question oo. What if dangote wakes up one morning and decides to increase the price of his fuel to 2k and says if una no wan buy make una leave. Wetin we go do?

Nothing! Because a capitalistic system is better than the fraudulent system that Nigeria has been running up until this point!

hedonido:
This is stupid and unnecessary. If it doesn't result in a significant decrease in the price of fuel, how does it concern the masses?

That's the same noise the bastard APC Buhari and his crew made about how rice imports had reduced after their border closure policy and how they were empowering so called local farmers.... Only for the useless local rice which is vastly inferior in quality by an order of magnitude to end up becoming far more expensive than the imported rice, and then things spiralled out of control.

So we are not impressed by high sounding metrics which do not directly improve the standard of living/cost of living of ordinary Nigerians.

Calm down bro, Tinubu will rule till 2031

chucks185:
Keep Obi and his supporters out of your filthy mouth

Keep Tinubu and his supporters out of your godly mouth

Okoroawusa:
This news will not go far. It's not the kind of news Obi supporters like.

How far is it supposed to go? 

How has it impacted positively on the pump price of petrol, the naira to dollar exchange rate, transportation costs, prices of goods and services? In fact, how has it impacted positively on the common man?

Kobojunkie:
Nothing! Because a capitalistic system is better than the fraudulent system that Nigeria has been running up until this point!

True

Okoroawusa:
This news will not go far. It's not the kind of news Obi supporters like.

How did you know them?
Acrimonious people! Full of bitterness.

Slow and steady win the race