₦airaland Forum

Mirage!

Illusion!

Not in this kind of nigeria

Tayorshd87:
But is now 835 in PH
935 in Lagos
And yet born announced 600 per liter yesterday.


What's do u have to say clown 🤡

Na your problem be that boss.

Ojuntana:
You support T-pain that what?

Is he not among those who fought against subsidy removal?

What has he done except suffer Nigerians for nothing?

Yes,T-Pain .... Temporary pain and he is also known as LLB.

Tayorshd87:
.subsidy removal na that cause inflation and it has to increase to balance the equilibrium.

Dull citizens everywhere

Why was subsidy removed?

Tayorshd87:
Ok sir even if it's 2014 ..

By nature what u buy in a particular amount for about 10years must appreciate .

It's a common logical reasoning 😁

So it's not about party or government in power.

Appreciate 1049% but minimum wage appreciated just 288%?

Try another joke

Tayorshd87:
But is now 835 in PH
935 in Lagos
And yet born announced 600 per liter yesterday.


What's do u have to say clown 🤡

Sit online typing rubbish then.

Return it to how much you met it.

Cho Cho Cho..no action

Max24:
I doubt this postulations because this will defeat one of the reasons Tinubu adduced for removal of subsidy. In our fuel price is way below international price then smuggling across our bothers by our neighbours continues. We are probably not supplying Nigeria alone but other West African counties.

As it is currently. It's been sold below international price in Nigeria.
If the exchange rate goes down more it will not affect the difference in comparison to international price much.
It just translate to stronger naira. A stronger naira means lesser naira than ₦935.00 can purchase a liter of fuel

Bobloco:

Wailer u no fit open mouth abi?

Pluto33:
Source:
https://thesun.ng/fuel-price-may-crash-to-n500-per-litre-marketers/

It should crash first and stop salivating our tongue with empty promises

Validated:
Stop day-dreaming, not possible, otherwise I will start exporting Dangote gasoline to US/Canada for $1 (N1650) per litre

you are now thinking like tinubu, all he want us to do is to think outside the box

Ojuntana:
Local refining has always been a solution

However, it must be said that Nigerians should be amazed at how fuel price dropped to 935 when the majority of fuel is imported.

I thought imported petrol can't be cheap below exchange rate. How come imported petrol is now competing with locally refined fuel at the rate of $0.6 when petrol is being sold $0.8 on average at the cheapest rate worldwide? What happened to all the calculations of landing cost that we used to be bamboozled with?

If there's no subsidy presently and Nigerian petrol is still far cheaper than US, UK and our neighbours and is actually comparing with Saudi and Libya in terms of price, that shows that subsidy payment has been a scam all along. Nigerians were being robbed blind.
All those who ever paid subsidy or protested against its removal should be shot

Where did you hear that from? Were you buying litre of petrol at equal or above the exchanged rate before?

Any amount Una like make Una crash am, we are used to all Una robbish pranks.

We don't want fuel price down again, just bring down the prices of commodities!

nairalanda1:
Not possible, in a way.

Though I say the above with caveat. If Dangote continues pumping more for the market, meaning import costs go down, and he continues to make enough of a profit selling oversease, maybe.

But I doubt it would reach N500. Refineries are built with loans, not with free money, and the loans got to be paid back. Workers also have to be paid competitive wages, because Dangote is competing globally not with Nigeria. And yes, oil workers in NIgeria japa. (And have been doing so for decades. It's a high skill work, and they are in high demand).

Reduced pressure result in lower exchange rate which in turn translate to lower fuel cost because even though the crude is sold in Naira, it will be in equivalent of the dollar rate for that day.

Wailers, children of perdition and destruction will not like this.....
News like this makes them sad
It is the bad news that gives them Joy....
End time children.
Una go wail oooooooo
Nigeria must work
Una go wail tire
Una eyes socket go comot.
Awon omokomo

May, not must and surely not “will.”

It better be.

@DemonSlayer, LegendHero and Metrofox you remember I made this claim that time. We argued about it you thought I was being too much.

I pray this doesn't turn out to mouth talk alone.

It is absolutely possible but we hope the greedy folks sulking this country of better life for everybody have their conscience improved.

almayda:
I may not understand all these long epistle but I know simply that they more the merrier,meaning,if there are more refineries,there will be competition,with that,prices will come down,to what extent?I don't know,it's just simple economics.

The problem lies in the importation of fuel, because the local production can't meet the daily needs of the country.

If all the refineries including the modular refineries are working at full installed capacity they will be able to me the daily consumption of 40 million litres daily consumption of the country

If this is achieved, fuel importation will stop,this will save us lot of foreign exchange and reduce demand for foreign exchange and fuel price will ultimately drop.

If this is a prayer a say a thunderous AMEN..

Pluto33:
Source:
https://thesun.ng/fuel-price-may-crash-to-n500-per-litre-marketers/

Stupid analysis! Not sure anyone in The Sun newspaper is qualified to make such analysis of a technical industry like oil and gas. Isn't that newspaper focused mainly on who is sleeping with whose wife in the same compound?

The critical cost component for petrol is price of crude oil. Petrol is only getting to N500, if crude oil drops to like $40 per barrel.

Celestialsword:
The problem lies in the importation of fuel, because the local production can't meet the daily needs of the country.

If all the refineries including the modular refineries are working at full installed capacity they will be able to me the daily consumption of 40 million litres daily consumption of the country

If this is achieved, fuel importation will stop,this will save us lot of foreign exchange and reduce demand for foreign exchange and fuel price will ultimately drop.

Which importation of fuel? Who is importing fuel? Who says local refining is not meeting capacity?

Westman001:
It better be.

@DemonSlayer, LegendHero and Metrofox you remember I made this claim that time. We argued about it you thought I was being too much.

I pray this doesn't turn out to mouth talk alone.

It is absolutely possible but we hope the greedy folks sulking this country of better life for everybody have their conscience improved.

It's not possible at current crude prices and exchange rate. Stop wishful thinking.

COMPAQ:
Which importation of fuel? Who is importing fuel? Who says local refining is not meeting capacity?

How are the local refineries meeting daily consumption without importation

Max24:
I doubt this postulations because this will defeat one of the reasons Tinubu adduced for removal of subsidy. In our fuel price is way below international price then smuggling across our bothers by our neighbours continues. We are probably not supplying Nigeria alone but other West African counties.

If our petrol is being produced privately by Dangote, and his price delivers him profit, then taking petrol to neighbouring countries doesn't really concern government. It's not really smuggling, but exporting and is helping Dangote meet the capacity of his refinery and create economies of scale.

Smuggling was only an issue before because government money was inside by way of subsidy.

fineboynl:
May?

What are the projections? Is subsidy coming back or the naira is gaining value?

I feel if crude is sold in Naira and not dependant on international price.... also considering open windows to independent refinary springing up left and centre... Considering these factors, there's every possibility for price of PMS to keep dropping

Celestialsword:
How are the local refineries meeting daily consumption without importation

.

Dangle has said several times that he is meeting 100% of Nigerian consumption. NNPC which was our sole importer before it's no longer importing. If any marketer is importing, it's because he chooses to, not because Dangote doesn't have enough.

nedu666:
May, might, likely, assuming. These are words used in govt propaganda

😂😂😂😂😂

tbliss22:
I feel if crude is sold in Naira and not dependant on international price.... also considering open windows to independent refinary springing up left and centre... Considering these factors, there's every possibility for price of PMS to keep dropping

It is already sold in Naira, based on the equivalent naira conversion of the international price at current exchange rate.

There is no way it won't be based on the international price. If it's lower than that price, then it's subsidy.

alizma:
Your calculation are wrong. However I didn't blame you because the person that talks about the possibility didn't tell you the basis for that assumption and I now put it to you that one of the basis for that assumption is that dollar will also crashed. So your 1,650 to a dollar is not realistic

Smart!

VERY GOOD REPORT PLUTO33. HAPPY NEW YEAR.