₦airaland Forum

Thundafireseun:
This shameless Aboki too like monopoly….

I thought he was bragging about selling his product to other countries

Eteka1:
Most of you shouting monopoly don't understand the implications of continuing importation of petroleum products.

40% of the pressure on forex in Nigeria is for the importation of refined petroleum products

- Dangote currently refines enough products to meet domestic consumption and to spare.

- If Nigeria stops imports of refined petroleum products, the pressure on our forex will be reduced by as much as 40% leading to the massive appreciation of the Naira.

- A barrel of crude oil currently sells for about $80 per barrel. With the exchange rate hovering around N1,700 to a Dollar. When pressure is reduced on our forex as a result of an end to imports of refined products, the Naira can appreciate to about N1000 to a USD. That means refineries in Nigeria will need less Naira to buy each barrel of Crude oil. This will lead to a drop in pump prices and inflation.

- by continuing to issue licences to import refined petroleum products, NNPC is killing our economy.

This nonsense has to stop

Lionnation:
done people have been telling us there woukd have been no Dangote without Monopoly we waved it off but it's actually true

flokii:
All his products are substandard.. the NMDPRA Chief attacked Dangote because he has priviledged information that others don't have.
The man Dangote ought to be blacklisted by the FG.. over 95% of those working and managing his refinery are Indians. No local content, no jobs for Nigerians, yet he will be looking for ways to cheat the system.

How I wish the Minister of Interior can revisit the expatriate tax and expose people like Dangote. Only one man packed foreigners into Nigeria to be working in his company, what can never happen in India or any saner clime.

flokii:
I don't think there is any man as cruel as Dangote in Nigeria.. the man is just too greedy for my liking.
When I first read the PIA, I knew instantly the Northerners in the Petroleum Ministry were planning to hand over the downstream petroleum sector in Nigeria to Dangote, part of the reasons they won't allow our State owned refineries to function. I don't know why Southerners in Federal are just fvcking docile, is it that you people's education is substandard or what??.
The Dangote man wants Monopoly of every sector in Nigeria which is very very wrong.
This is the worst businessman to ever come out of Africa.. It's obvious his wealth is questionable.

Just take a look around the country, how many Southerners do you see being pampered and pushed like Dangote?.. Nigerians don't know that over 85% of FG concessions are going to this Dangote alone, the records are there in Ministry of Finance, yet he comes out publicly to lie that he didn't get any support from FG.

Now I've been vindicated on some of my posts here.. companies in Free Zones don't pay taxes to either FG, State or Local Govt. because they are considered as technically "not within Nigerian Customs territory".

If NMDPRA wants to finish Dangote completely, they should impose import duty and levy on all his refined petroleum products, let's see who will go out of business.. Very evil man that derives joy in impoverishing Nigerians for his selfish gains.

Whoever is the judge of the Federal High Court should throw out Dangote's suit as it lacks merit or substance.. Nigerians deserve fair pricing, Nigerians have right to life and Dangote can't take that right away from us by selling delicate products such as Cement, PMS etc. at exorbitant prices. He should export his PMS, AGO etc. to other countries, we don't need them.. we don't mind importing our petroleum products from saner climes with sane producers till we finally get it right and have our own refineries working.

We say a big NO to Monopoly!

CodeTemplarr:
Lol. I am with Dangote on this. You cannot import and regulate your rivals while grounding the local refineries. These idiotic fellas representing the state, they dont care about the state welfare and are ready to crash the whole system just to become 'something' in life.

tunwumi:
If Dangote is not a dubious business this foreign fuel importer should die a natural death.

DRL is not paying transportation cost like this company. They shouldn't be able to operate if DRL is not thinking as a monopolists

johnayo01:
This is not even a big issue.

All this can be addressed while the refinery is working at 100%

Or are you saying we should ground the refinery because of this trivia issue

CodeTemplarr:
Lol. I am with Dangote on this. You cannot import and regulate your rivals while grounding the local refineries. These idiotic fellas representing the state, they dont care about the state welfare and are ready to crash the whole system just to become 'something' in life.

nairamaniac:
If you support Dangote on this, it means you are amongst the unfortunate-majority that Dangote has succeeded to deceive.


See, if Dangote is sincere with the price he placed for his product, these other importers would die a natural death.
They wdnt even stand a chance as a competitor to Dangote.

How can people who are using Vessels to ship and also buy their fuel from overseas with Dollars oooo, be a competitor to Dangote.

See, Dangote fuel shouldnt be selling more than 600naira per litre for a start.


Then after some years, with other indigenous refineries, the price should come crash.

Just like what's happened to phones and charges to make phone calls and access to internet.

Themandator:
Why is It so hard for some of you to understand that Dangote is not working for your good


How is It that imported products are cheaper than his locally refined products




How come prices are coming down every day at the depots since these guys imported the products

flokii:
You don't know who Dangote is.. he buys anybody buyable as far as he is able to kill off competition.

The time to stop the wicked man and fight for the soul of Nigeria is now!

Mark this down today, if Dangote succeeds in ending issuance of import permits to marketers, PMS that ought to be sold between #500 - #600 will sell for #2,000 - #2,500 per litre in Nigeria before ending of 2025.

Nigeria doesn't need people like Dangote.. he can go to hell for all we care. What we need is for FG to revive our State own refineries and revamp all our industries from textiles to steel, etc. That way, there will be jobs everywhere and economy of Nigeria will bounce back to life.

Forget that guy Dangote, na barawo banza.

sulaak:
Where is the monopoly? Instead of attacking Dangote attack, NNPCL has invested $4 billion in repairing four refineries that are not working.

BUA Group has a 200k refinery coming onstream next year.

NNPCL has 450k refinery capacity; why ae they not working

Nigeria also has 200k module refineries across the south of the country.

Dangote has invested over $30 billion into the country to support local production. Yet, the useless NNPCL is still importing fuel despite spending $4 billion to repair the PH, Warri, and Kaduna Refineries.

Why will anyone invest in this country?

Themandator:
Why is It so hard for some of you to understand that Dangote is not working for your good


How is It that imported products are cheaper than his locally refined products




How come prices are coming down every day at the depots since these guys imported the products

MrPaul2:
If Dangote was not greedy with price, I don't see how those companies will pay for shipments and still make gains using Dangote price in sales. I personally think the man is a criminal that needs to be properly investigated. He gets almost all his raw material locally, yet those who export and reimport using small refinery, there produce is still affordable.

nairamaniac:
If you support Dangote on this, it means you are amongst the unfortunate-majority that Dangote has succeeded to deceive.


See, if Dangote is sincere with the price he placed for his product, these other importers would die a natural death.
They wdnt even stand a chance as a competitor to Dangote.

How can people who are using Vessels to ship and also buy their fuel from overseas with Dollars oooo, be a competitor to Dangote.

See, Dangote fuel shouldnt be selling more than 600naira per litre for a start.


Then after some years, with other indigenous refineries, the price should come crash.

Just like what's happened to phones and charges to make phone calls and access to internet.

ivandrag0n:
Your bloody opinion and it counts for nothing with me.

I’m not dumb and I know Dangote is paying huge sums of money on PR, for people to come and whitewash DRL’s images on social media and other forums.

When Nigerians were attacking government because of Dangote many weeks back, we were not bad people but now that most Nigerians are seeing through Dangote’s mask and that he wants to foist another monopoly on Nigeria, you are here on their behalf! It cannot work.

Everyone is now suspicious of Dangote’s intentions. If he means well, why should imported petrol be cheaper than the one he refined locally, even when he purchased crude in local equivalent, without the overheads associated with importation?

Teacher, don’t feed me rubbish!

Why are dirty fuels being imported?
Without official standards for methanol, authorities do no tests, so fuels with high levels go undetected. Methanol is an additive that can be blended to improve cheap, low-quality petrol. However, this consignment had excessively high levels, which damages engines.

Nigeria is dependent on fossil fuel imports. Despite being one of the top ten producers of crude oil worldwide, the national refining capacity is poor. Meanwhile, consumption is high and rising – estimated at 65 million litres per day in 2021 – because electricity and transport options are predominantly fuel powered.
The state-owned Nigerian National Petroleum Company (NNPC) Limited is the sole importer of petrol in the country, but does sub-contract petroleum marketers in crude-for-fuel contracts, which is how the high-methanol fuels were supplied. These deals are notoriously opaque, and have been at the centre of several corruption allegations.

Borrow222:
I don't know if Dangote is for or against Nigerians.

You want a monopoly on almost everything, yet none of your products are within reach of the common man. Your cement is now terribly expensive, despite all the natural resources obtained within Nigeria.

The refinery, which we thought would solve all problems in the oil sector, is now causing unnecessary headaches and drama for Nigerians.

flokii:
You don't know who Dangote is.. he buys anybody buyable as far as he is able to kill off competition.

The time to stop the wicked man and fight for the soul of Nigeria is now!

Mark this down today, if Dangote succeeds in ending issuance of import permits to marketers, PMS that ought to be sold between #500 - #600 will sell for #2,000 - #2,500 per litre in Nigeria before ending of 2025.

Nigeria doesn't need people like Dangote.. he can go to hell for all we care. What we need is for FG to revive our State owned refineries and revamp all our industries from textiles to steel, etc. That way, there will be jobs everywhere and economy of Nigeria will bounce back to life.

Forget that guy Dangote, na barawo banza.

tunwumi:
If Dangote is not a dubious business this foreign fuel importer should die a natural death.

DRL is not paying transportation cost like this company. They shouldn't be able to operate if DRL is not thinking as a monopolists

Eteka1:
Most of you shouting monopoly don't understand the implications of continuing importation of petroleum products.

40% of the pressure on forex in Nigeria is for the importation of refined petroleum products

- Dangote currently refines enough products to meet domestic consumption and to spare.

- If Nigeria stops imports of refined petroleum products, the pressure on our forex will be reduced by as much as 40% leading to the massive appreciation of the Naira.

- A barrel of crude oil currently sells for about $80 per barrel. With the exchange rate hovering around N1,700 to a Dollar. When pressure is reduced on our forex as a result of an end to imports of refined products, the Naira can appreciate to about N1000 to a USD. That means refineries in Nigeria will need less Naira to buy each barrel of Crude oil. This will lead to a drop in pump prices and inflation.

- by continuing to issue licences to import refined petroleum products, NNPC is killing our economy.

This nonsense has to stop

AfDB’s Adesina warns Nigerian food import policy could destroy agriculture
The AfDB president, formerly a minister of agriculture for Nigeria, said that the policy risks turning the country into an import-dependent nation
Akinwumi Adesina, the president of the African Development Bank, has said the decision by Nigeria’s government to allow large-scale food importation risks destroying the country’s agriculture sector.

On July 10 Nigeria’s minister for agriculture Abubakar Kyari said that the federal government would suspend duties, tariffs, and taxes on the importation of maize, husked brown rice, wheat, and cowpeas through the country’s land and sea borders, for 150 days.

However, Adesina, himself Nigerian minister of agriculture from 2010 to 2015, decried the policy in a speech to African leaders of the Anglican Church in Abuja.

“Nigeria’s recently announced policy to open its borders for massive food imports, just to tackle short-term food price hikes, is depressing,” he said.

He warned that the policy could undermine private investments in Nigeria’s agriculture sector.

“Nigeria cannot rely on the importation of food to stabilise prices. Nigeria should be producing more food to stabilise food prices, while creating jobs and reducing foreign exchange spending – that will further help stabilise the naira,” he said.

The government of President Bola Tinubu has been under pressure to allow the importation of food in a bid to tackle runaway food price inflation, which quickened to 40.9% in June from 40.7% a month earlier.
https://african.business/2024/07/resources/afdbs-adesina-warns-nigerian-food-import-policy-could-destroy-agriculture

Zico5:
In this country currently, the more we look, the less we see. What's really going on in this country. Why are these capitalists bent on destroying this country totally. I'm very sure, there is something Tinubu, NNPCL and Dangote are not telling the masses. Dangote is located in Nigeria and is not paying import duty but the price of petrol is increasing. They allude that there is no enough fuel to distribute throughout the country yet Dangote is fighting against import of refined products. Why can't Tinubu have mercy on the masses for goodness sake.

Energist:
Your postulation is only bookish. It's a similar argument that got Nigerians deceived about the fuel subsidy. They removed it yet we saw no appreciation of the Naira

Nedumadrid:
Why is Dangote scared of imported fuel?
Is the imported fuel cheaper than his?

Does he think fuel is cement.
Monopoly kills competition and innovation.

If he is smart enough he should make his fuel cheaper so that does who import will be at loss.

Zico5:
Why can't Tinubu have mercy on the masses for goodness sake.

nlfpmod:
https://nairametrics.com/2024/10/21/dangote-refinery-asks-court-to-void-import-licenses-of-nnpcl-matrix-and-four-others-in-n100-billion-case/

grandstar:
A litre of crude oil at least 750 per litre. How do you expect him to sell petrol for 600 per litre and make a profit? I have not included refining costs!

In addition, refined products bought in Malta are from Russia. Due to sanctions, Russia can't sell its crude oil above $60 per barrel, unlike its present price of $75. So, buying Russian products just makes sense as its price would be very, very competitive. Dangote would find it hard competing against them.