₦airaland Forum

Insist on importation!!? You can see the problem in Nigeria. Let EFCC arrest some of them and check their finances. What is going on really

its pointless for dangote to buy crude from nnpc.

rather nnpc should instead pay refining cost.

They should be importing and buying from Dan goat ,they should not cast their eggs in one basket, the refinery can have technical issues in future, they should not abandon their old wife for the new wife.

T-pain and Dan goat are inflicting pains on Nigeria.

Onewazobia:
It's matter of tribalism or religion rather investment. For now no justification for stopping importation

Dangote Refinery, in an originating summons filed on September 6, 2024, accused the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigeria National Petroleum Corporation Limited (NNPC), alongside several oil marketers, of violating Sections 317(8 and (9) of the Petroleum Industry Act (PIA).

The refinery contends that NMDPRA issued petroleum import licenses inappropriately, without proving a product shortfall.

The refinery is urging the court to declare that NMDPRA’s actions contradict its responsibilities under the PIA, as it has not sufficiently promoted local refineries like Dangote’s.

Let them prove in court that dangote is unable to supply the local market. Then you can come back and have this discussion, it's not by mouth.

I don't believe importation of Petrol is good for this struggling economy we find ourselves.

Kingpele:
Wow ....I don't believe importation of Petrol is good for this struggling economy we find ourselves. ..the solution is for dangote to sell directly to marketers..NNPC should act as referee..by so doing we will have a reasonable affordable price of psm . We should use our scarce dollars for other things not fuel importation... FTC the mods should do the needful

It's the high exchange rate of 1700 naira to a dollar that is causing the high costs of fuel from Dangote refinery.. Dangote refinery buys crude oil from NNPC at $78 dollars to a barrel with an exchange rate of 1700 naira to a dollar..so Tinubu and the federal government should appreciate the naira and make it have value against the dollars..if the exchange rate is from 700 naira and below to a dollar the price of fuel in Dangote refinery will be cheap and affordable for nigerians

Dangote aims to recoup his investment within the shortest period of time, otherwise he should have had no business with retail distribution.

Dangote must not be allowed to monopolize the downstream oil value chain because Nigerian will be at his mercy, just like he did with cement.

Marketers who can afford to import from the West must be allowed to do so, for the sustenance of their business.
Also, Dangote has the latitude to sell to other countries if he wishes to.

Remember he has PMS, AGO, DPK/ATK, HDPE, FUEL OIL, BITUMEN etc in the products production cycle, which, all, translates to profit, so why should his product be so expensive?

He should face the competition in the industry and allow price and availability to determine traffic.

Kingpele:
Wow ....I don't believe importation of Petrol is good for this struggling economy we find ourselves. ..the solution is for dangote to sell directly to marketers..NNPC should act as referee..by so doing we will have a reasonable affordable price of psm . We should use our scarce dollars for other things not fuel importation... FTC the mods should do the needful

Nope. We need competition.

Dangote should simple sell his products at a very competitive rate and watch marketers line up to load product.

He is just been greedy. He has always been.

maxiuc:


Dangote one of the problems of Nigeria

I don't know the problem of this Dangote, if the marketers refuse to patronize you afterall you can export your product to other countries , must they buy from you?
Truly this man is another problem for Nigerians

ArinzeAnthony03:
Dangote is too greedy, that is how he killed Ibeto cement. And some tribal persons supported him, now he want to do the same in the petroleum sector.

Had it been it's an igbo person that is importing petroleum into Nigeria now, he will definitely use judiciary to silence the person

Thank God he is facing his brother's from the North.

Let see how it goes

Your statement speaks more tribalism in it's meaning.

What does being Igbo, Yoruba or hausa have to do with common sense.

Let's be unified for once and not judge by race. Divided we fall

Dlewisi:
Dangote should simple sell his products at a very competitive rate and watch marketers line up to load product.

He is just been greedy. He has always been.

You are a missing a point here, forgetting the end users of any of their agreement is us.

Human beings are naturally greedy, anybody in dangote shoes would even do worse than him but who even in his greed will still have affection for the people they is serving with their products?

This is really the question we need to be asking ourselves

where are all those dangote mouth pieces now

How can a 650000 barrels per day refinery wont be able to satisfy Nigerian needs? How can these shylock Business men be playing pawn with the lives of Nigerians? i beg how much does a tokumbo electric car cost ? !!!!!!!

ArinzeAnthony03:
Dangote is too greedy, that is how he killed Ibeto cement. And some tribal persons supported him, now he want to do the same in the petroleum sector.

Had it been it's an igbo person that is importing petroleum into Nigeria now, he will definitely use judiciary to silence the person

Thank God he is facing his brother's from the North.

Let see how it goes

Some of you are just being unreasonable and

Is it the marketers that are not greed or Nnpc, even when pms int'l price falls do they reduce price but when it goes up as Nnpc ever spared Nigeria

When i see people talk of "Monopoly" .. Nnpc as being sole importer since when at zero benefit to the economy But it is Dangote monopoly that will subdue pressure of forex demands & importation that is given these naive minds migraine

Does Dangote really have "monopoly" where there is no law that forbids another local refinery from working ... if they are so objective about curbing "Monopoly" why are we not fixated on ensuring our national refineries work ... thats the only "real competition" that bears economic growth and affordable pump price.

However, there are regulation that prioritize and protect local production, except Dangote can't or has no capacity to meet our daily consumption, he is within the confines of the law to demand we stop importation

These bunch of crooked Marketers there is no guarantee if they import they wont target same price as dangote, how do we even differentiate .. its best Dangote diversify into filling stations for his best interest that how to break Nnpc and all these useless marketers back

Before dangote refinery these Marketers feign no forex to import but suddenly they are all so loaded ... let our local refineries curb Dangote. why cant it work

Dapromzy333:
https://news360ng.com/oil-marketers-drag-dangote-refinery-to-court-over-moves-to-restrict-import-licenses/

here is why imported petrol will be cheaper than locally produced.

Remember that dangote borrowed money for this refinery from external banks( in dollars at lending rate 6%) and local banks ( at a lending rate of almost 30%)

now for a foreign importer that deals only in dollars can get access to credit at a cheaper rate, buy crude, process it and sell it at let say margin of 15%.

For a local producer that will buy crude at raw material in dollars, battle devaluation in this currency, also get loan from local banks in naira at 30%. remember that after selling in naira, he need to access dollar again rhat keep devaluing every month at 8%. Yous see that the odds is against a local producer.

so how does he want to sell fuel/petrol at profit if he decide to puut in all this factor

I just don't get this. Does it mean the sole reason Dangote built this refinery is so he becomes a monopoly and only dealer in refined petrol in Nigeria? This is ridiculous. One can't be this shameless. It means those Nigerians who shouted when Obasanjo almost sold one of the government-owned refineries to him had a strong reason to do so. Any business that is afraid to compete in an open market is unethical and unfit for purpose.

Kaybaba5:
I don't know the problem of this Dangote, if the marketers refuse to patronize you afterall you can export your product to other countries , must they buy from you?
Truly this man is another problem for Nigerians

dangote refinery was design and setup to meet local consumption, the primary target market is Nigeria thats why the project enjoyed govt incentives, support and Nnpc stake involved

There is no way Dangote can export all is daily production without unbearable loss, besides int'l market are regulated and there is a quota challenge

THE surest move for Dangote to cut Nnpc and marketers to size is to diversify into owning fill stations across Nigeria .. it is light that will seperate itsef from darkness

Dangote should own fillings stations and let the competition begin and lets the market weigh there options .. quality is a leverage cos naa that one go last inside tank .. which driver wont pick that over cheap

Kingpele:
Wow ....I don't believe importation of Petrol is good for this struggling economy we find ourselves. ..the solution is for dangote to sell directly to marketers..NNPC should act as referee..by so doing we will have a reasonable affordable price of psm . We should use our scarce dollars for other things not fuel importation... FTC the mods should do the needful

The solution is for NNPC to get its refineries working. Let the oil marketers build their own refineries is they are unhappy with Dangote. When do we stop importing products that we can produce.

OkoAmarashy:
Good. Straight to court.

Not crying marginalisation, hatred, jealousy.
Not issuing ultimatums.
Not wearing tribal uniform to say they are targeting them because of their tribe.
Not crying on twitter.
Not threatening secession.

Dragged straight to court like a native goat.

Seems you are very high on gbegiri, your stupid hungry judges that can't interpret the law abi

ManOfSon:
I just don't get this. Does it mean the sole reason Dangote built this refinery is so he becomes a monopoly and only dealer in refined petrol in Nigeria? This is ridiculous. One can't be this shameless. It means those Nigerians who shouted when Obasanjo almost sold one of the government-owned refineries to him had a strong reason to do so. Any business that is afraid to compete in an open market is unethical and unfit for purpose.

Where is the monopoly.....

NNPC - 450,000 Refinery capacity per day
BUA Group - 200,000 P/D
Modular Refineries - 150k, refinery capacity per day

Artscollection:
Seems you are very high on gbegiri, your stupid hungry judges that can't interpret the law abi

Ayiri omo ipob.

He's targeting importation specifically. Which means he doesn't see these paper tiger corporations you've mentioned as any type of competent competition.

sulaak:
Where is the monopoly.....

NNPC - 450,000 Refinery capacity per day
BUA Group - 200,000 P/D
Modular Refineries - 150k, refinery capacity per day

How much is your fuel oga?

It took months and several consultations to finally answer this simple question.

Oga you are one of Nigeria's biggest problems.

Aliko Dangote, wats ur problem with monopoly, can't u thrive in an open market. This is y I don't respect Africa's wealthy men. Most won't survive under a free and open market. Always using govt as shield, calling all d shots n have guarantee supply, even wen he is hiking prices with stupid excuses, and reducing quality of products to make more money. No fear at all, because dere is no competition.

I pity doz relying on him cos he employed some dirty n dubious indians. Indians dat were collecting kick back during construction of d refinery, make I nor even talk sef. Only God knows how dey frustrated contractors, refused to pay, and short changed dem, all because dey were not given bribes.

Once Dangote has monopoly, forget it. Just come back and check d quality of d product after 6months, it will be rubbish.

Drag that monopolistic bastard’s ass . If Nigerians don’t know , Dangote is a key reason we are buying fuel at this price .

wagazala:
When the marketers import, will they sell at lower price or take advantage of Dangotes price and still sell at a higher rate?

They are all after personal interests.

which business person buys at a higher price and sells at a lower price. I still don't understand how an imported item will be cheaper than locally produced item

Nigerians and their JSS1 economics sense. If USA had this same mentality of monopoly towards elon musk...do you think he will be where he is today...recognizing the achievements of space exploration, EV, and Internet service.

If your govt can't do something, and a businessman has decided to take the risk and we are quick to label him monopolistic. It's very sad.

Dangote wants to monopolize this one too

As Kalu Aja said (if true as seen online), anyone who is claiming to import PMS at a lower price than the cost of local production, needs to reassure us that it's not PMS from stolen crude oil.

The international cost of oil is known. If Dangote is selling above that, we'll know. Afterall, the major marketers are buying from him and not complaining. How then is imported fuel cheaper as stated by the small marketers? Why can't they come together and build refineries so they can compete favourably with Dangote. Even NNPC that keeps shifting the goal post is not complaining.

Raymondfayowole:
which business person buys at a higher price and sells at a lower price. I still don't understand how an imported item will be cheaper than locally produced item

Lower price than Dangotes I meant. Assuming landing costs are far cheaper than Dangotes prices.