₦airaland Forum

Ojuntana:
I thought your theory says when subsidy is removed investments will flow in

What's going on?

And how come it is in Nigeria's case that petrol is not cheap and affordable

nairalanda1:
Every country that does not run a subsidy on fuel has fluctuating prices of petrol

Even saner climes like the USA.

Cost of production.

But fuel is cheap in the US compared to Nigeria

Deepthoughts:
if manufacturing is what really ensures strong currency, then why is the Japanese n Chinese currencies weak against the other major currencies like the dollar Euro n pound sterling?

You know, Lance.

Ojuntana:
But fuel is cheap in the US compared to Nigeria

mikeapollo:
This is reason why NNPC should let us know how they are selling the crude to Dangote in naira!

Or whether they are selling most of the domestic crude to Dangote or taking it out to refine under the guise of the refinery is working

He is only there for business so I will not blame him

MadamExcellency:
Advice is not a curse.

You know nothing about selling crude oil in naira to Nigerian refinery. Yet you want to talk about the economics of it by saying it's just a pun on words and doesn't amount to subsidy. You are the one exposing yourself not the other way around.

My dear young virgin, you were abusive.

Good evening. Ashtoreth bless you.

( The fact that petrol costs money should not anger you too much)

Deepthoughts:
if manufacturing is what really ensures strong currency, then why is the Japanese n Chinese currencies weak against the other major currencies like the dollar Euro n pound sterling?

Deepthoughts:
if manufacturing is what really ensures strong currency, then why is the Japanese n Chinese currencies weak against the other major currencies like the dollar Euro n pound sterling?

Jorussia:
I have been vindicated again.Forget all the noise,there is no way we as country can get the full benefit of full deregulation,if the govt don't address the current exchange rate.for Christ sake #1600 is too much and it doesn't have any Benefit to this country.The reasonable exchange should be around #800.

They should take it back to 250 naira/ 1$

It’s a personal business anything he decide
Electric car is coming

International oil prices for Brent has gone up from 75 to 80 or more a barrel.

Na so. Dangowinch

CodeTemplarr:
Not bad considering that crude price has gone up after the last petrol price reduction.

I thot the govt and expert were all claiming market competition influence the drop in price few weeks ago ...

Now it is convenient to acknowledge int'l market price as increase But when it dropped they feign unaware

saintopus:
But they told us that crude oil is being sold to Dangote Refinery in Naira so why the increase again

been sold in naira at the prevailing exchange rate of naira to dollar and at the global rate of bent crude.

bent crude is now about $80 per barrel and naira is now about 1660 naira per usd.

that means $80 × 1660 naira per usd = 132,800 naira per barrel

if nnpc decides to sell one barrel lower than that to dangote that means there's a subsidy somewhere.

so instead of dangote buying the crude at $80 he pays naira at a rate of 132,800 so it's same thing.

I was telling someone that the initial reduction from 1025 wasn't as a result of "competion" due to different refineries coming to life but cos of international price of crude as well as our exchange rate.,,,, even if we have 100 refineries operating in Nigeria, the twp factors above will go a long way in determining how much they will sell to us.

Benwems:
been sold in naira at the prevailing exchange rate of naira to dollar and at the global rate of bent crude.

bent crude is now about $80 per barrel and naira is now about 1660 naira per usd.

that means $80 × 1660 naira per usd = 132,800 naira per barrel

if nnpc decides to sell one barrel lower than that to dangote that means there's a subsidy somewhere.

so instead of dangote buying the crude at $80 he pays naira at a rate of 132,800 so it's same thing.

Absolutely!!!
Some people were using the initial reduction to score political points AND misleading the ignorant ones that it's as a result of "competition"

FreeStuffsNG:
Blame Biden who slammed new sanctions on Russian oil tankers.

Oil has actually increased significantly to over $80 in the international market since Biden announced the new sanctions that will prevent almost 1m barrel of crude daily supply to the market.

Stop spewing rubbish.Here in UK,a litre of fuel is around £1.45.
Around 2010 it was around,£1.20..thats about 14 years ago.They don't produce crude oil ooo.You people keep supporting a failed system in Nigeria.Till these evil politicians kill all of una kpatakpata with severe hunger..una no go learn.

Jorussia:
I have been vindicated again.Forget all the noise,there is no way we as country can get the full benefit of full deregulation,if the govt don't address the current exchange rate.for Christ sake #1600 is too much and it doesn't have any Benefit to this country.The reasonable exchange should be around #800.

ilitrates in power

FreeStuffsNG:
Blame Biden who slammed new sanctions on Russian oil tankers.

Oil has actually increased significantly to over $80 in the international market since Biden announced the new sanctions that will prevent almost 1m barrel of crude daily supply to the market.

Oga stop saying rubbish. As of October, the government said they were selling oil directly to Dangote in dollars. All you put up there are not factors if what the government said was true

ogelekpomgam:
Stop spewing rubbish.Here in UK,a litre of fuel is around £1.45.
Around 2010 it was around,£1.20..thats about 14 years ago.They don't produce crude oil ooo.You people keep supporting a failed system in Nigeria.Till these evil politicians kill all of una kpatakpata with severe hunger..una no go learn.

The guys you responded to and his type in Nigeria are those people who had given up on themselves that they can't amount to anything in life or deserve anything better except they worship money or the holder,the actually see themselves as a third class citizens whose existence is at the pleasure of the leader
That's why they reason the way they do and they are a danger to the society
They are the thugs that lay down their lives for politicians, thinking the politicians lives are more important than theirs because of their poverty, which is actually because of their mindset

shortgun:
The country is crumbling before our eyes—the economy has collapsed, record-breaking unemployment never seen in the country before, businesses are closing down leaving families they support in despair.
Parents are forced to endure the agony of seeing their children starve day after day.
Tinubu’s presidency will forever be remembered as the epitome of incompetence, corruption, and failure.
We once believed no leader could surpass Buhari’s ineptitude, but Tinubu has shocked us all by doing just that.
What makes this tragedy worse is the utter absence of hope for change or improvement.
Since the wicked son of lucifer removed subsidy there's nothing of benefit the average Nigerian can point to as the gains of subsidy removal

He is just a dumb leader, whose low class supporters has promoted beyond his level of competence ,it is very glaring that he does not possess the credentials for which he use to seek office ,he has gotten the job now but it is obvious he has no skill set to perform the required task
He can forge everything but can't forge performance ,he has been exposed for whom he is a fraud

May God punish all those who said fuel price will drop to 500 per liter soon

treesun:
https://www.vanguardngr.com/2025/01/dangote-refinery-raises-petrol-price-to-n955-litre/

elasticlala:
This is exactly what would happen in 2027: you will begin to see some good things that would make you feel things are getting better and there is light at the end of the tunnel…. Then you vote again for your oppressors. Suddenly after election, your oppressors take away the seemingly ray of hope and increase hardship by 2000% and then you realize that there is even no tunnel anymore …. It goes on and on until “una mumu don do”

Any one that will fall for that is not worthy of being called a sane man ,it will take a certain level of insanity ,it would be more than stupidity to still trust these people with another term, Nigerians even tried to tolerate this highly, insensitive, clueless, incompetent and corrupt government this far,anything beyond 2027,is madness and suicide

saintopus:
But they told us that crude oil is being sold to Dangote Refinery in Naira so why the increase again

Paid for in Naira..but you didn’t ask for the price in Naira..
Well Tinubu in his last media chat hinted it’s a free market meaning the price in Naira is the global crude oil price times the Naira equivalent to USD the previous day.

galserv:
Now, we MUST produce enough crude oil locally to feed our refineries so that we can be isolated from the international market fluctuations/shocks

Dear cut and join economic analyst, how many dollars did Nigeria sold crude to dangote?

saintopus:
But they told us that crude oil is being sold to Dangote Refinery in Naira so why the increase again

We continue to see new developments and drama unfold with every passing day. 🤷

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Fuckyoumod:
Dear cut and join economic analyst, how many dollars did Nigeria sold crude to dangote?

Dangote has been importing crude oil as he is not getting enough from the FG.

SalamRushdie:
Till fuel prices drop to 420 naira litre the Nigerian economy can never grow , this week alone I have spentbover 200k on just Petro for private use , I never add the one of office ooo...it's not sustainable, cheaper energy is a must to grow an economy

Shouldn't you innovate and find a better way to do business without having to move around so much?

COMPAQ:
Shouldn't you innovate and find a better way to do business without having to move around so much?

So you think that was about me ? Do u realize that even the food stuff and goods you will buy have to be transported? Do U realize that it's fuels that is used to power mast of Telcos ? It was never about me , I stay in Phase 1 and my office is a walking distance so this is not about me but about the general economy

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