₦airaland Forum

Gotocourt:
Donald Trump is behind all this. Trump told OPEC to reduce prices, they didn't bother. Trump implement %50 tax on import from their neighbors (mexico &Canada)
Now, America still needs oil. They turned to Venezuela whom has the largest oil reserves and Nicolas Maduro (Werey promax) reelection has not been recognized by USA, EU and allies. Trump gave him a deal, to return venezuelan deadly street immigrants gangs (Tren de Aragua☠️) in exchange of buying venezuelan crude oil. Trump came up with that idea for fear of Venezuela rejecting it's citizens.
This gangs are in their thousands, what a great deal 🤷 . Maduro offered to send in transport plane to pick em up (sharp man 😂🤣😅). Trump have sent USA officials to seal the deal and publicized their visit photos officially. Chevron drilling license have been renewed ASAP
US dollars runs the world (at least for now), alot of countries are presently lobbying America for sales. Venezuela has dead cheap crude oil. Maduro is the hottest chic on the block. Billions of USD will start flowing .

It's no brainer. Lastly naira is gaining value.

Venezuela has the largest oil reserve. Where did you get that information from please?

zikter:
Where are the two functioning NNPC refineries? I hear nothing about them now. At least Dangote is talking and we are hearing

The warri refinery produces only diesel and kerosene for now but would start producing petrol before April. The old PH refinery produces petrol of not more than 2 million litres per day which is not up to 5% of Nigeria’s demand.

Skyehigher1:
If we have importer of cement ni cement price will also go down

Cement is different from petrol. Petrol prices are determined by global crude oil prices.

givedemwotowoto:
With petrol subsidy, the average car owner in Nigeria saved about N140,000 monthly or N1.6 million annually on driving alone.

Since there’s no more petrol subsidy, what equivalent value has government added to the lives of Nigerians to warrant the removal of N1.6 million from millions of households in Nigeria?

Keep enjoying secret subsidy on imported and claim subsidy is gone

Ojuntana:
950 to 890 is not a price crash
Since news broke last week that more pms was imported, I expected Dangote to drop his price
These guys are just playing Nigeria like a yoyo and unfortunately all the politicians in power are too corrupt to call them to order
If you raise issues now they'll hide under deregulation
How can imported petrol be cheaper than locally produced one

Imported petrol are heavily subsidized, wake up!

Emeskhalifa:
Small time, hin go increase am again

That's the power of market forces. As Nigerians, we better get used to it.

fineboynl:
.. the adjustment here and there is killing the economy. The price needs to be fixed and that's where subside comes in.

This is what it means to remove subsidy. This is how price of petrol fluctuates worldwide depending on movements in price of crude oil. Nigerians are not used to it yet because of decades of fuel subsidy.

tete7000:
Venezuela has the largest oil reserve. Where did you get that information from please?

Venezuela has the largest oil reserves in the Western Hemisphere, with over 303 billion barrels. Venezuela is also the largest oil exporter in the region Sir

givedemwotowoto:
With petrol subsidy, the average car owner in Nigeria saved about N140,000 monthly or N1.6 million annually on driving alone.

Since there’s no more petrol subsidy, what equivalent value has government added to the lives of Nigerians to warrant the removal of N1.6 million from millions of households in Nigeria?

Please don't stress yourself.
Look no further than Bourdillon where the Chicago bookkeeper is adding the savings to the lives of Nigerians.

anonimi:
The eyesore on Bourdillon Road
2nd January 2025

Beyond his neighbours, there is something about the sight of people hanging around a president’s residence that does not speak well of his leadership capabilities. Maybe no one has nudged him to see it, but the impression that spectacle on Bourdillon Road generates is that Tinubu enjoys the sight of suffering humans and thrives in—and through— their poverty.

If all these years, impoverished people hang around you and you remain comfortable enough to keep them just so they can be handed tokens of your large heart, then it means you have a pro-poverty mindset. Such a frame of mind is oriented toward cultivating poverty rather than stimulating abundance. That is why he could unproblematically relate the story of his “friend” who went from using five Rolls Royce to a far-less valued car and not consider the import of the nonsense he was saying. That spurious account was an indication that this is a man for whom poverty—of others, not himself—is an ideal.

https://punchng.com/the-eyesore-on-bourdillon-road/

Skyehigher1:
It shall never be well with dangote if not be marketers that imported petrol dangote will never crash it price importation must continue

When you wake up from your slumber, the cheapest in Europe is $.09.

fineboynl:
.. the adjustment here and there is killing the economy. The price needs to be fixed and that's where subside comes in.

What happen to the secret subsidy?

Skyehigher1:
If we have importer of cement ni cement price will also go down

keep deceiving yourself

GeneralDae:
This is what it means to remove subsidy. This is how price of petrol fluctuates worldwide depending on movements in price of crude oil. Nigerians are not used to it yet because of decades of fuel subsidy.

Removal subsidy and subsidize imported petrol secretly

NNPC didn't dance to his tunes anymore

This is a good question for the government to answer. Meanwhile God bless Dangote

givedemwotowoto:
With petrol subsidy, the average car owner in Nigeria saved about N140,000 monthly or N1.6 million annually on driving alone.

Since there’s no more petrol subsidy, what equivalent value has government added to the lives of Nigerians to warrant the removal of N1.6 million from millions of households in Nigeria?

Gotocourt:
Venezuela has the largest oil reserves in the Western Hemisphere, with over 303 billion barrels. Venezuela is also the largest oil exporter in the region Sir

You are on point

Paraman:
I know price of refined crude will fall because of the naira performance

Is it not refined locally, they should be mutually exclusive

So this is the economic yoyo we should be expecting going forward?

HelenaWills:
Wow! A wholesome #60 reduction.
Let me go and price a v8 car.

😂😂😂

So that means the rise in price of brent crude in global market favours the govt but apparently does favour the masses..Am I right?

GeneralDae:
This is what it means to remove subsidy. This is how price of petrol fluctuates worldwide depending on movements in price of crude oil. Nigerians are not used to it yet because of decades of fuel subsidy.

[quote author=olatade post=133965858]https://tribuneonlineng.com/breaking-dangote-refinery-crashes-ex-depot-petrol-price-to-n890/amp/

Imagine where we would have been by now without dangote refinery?....with the humongous economic bungling that TINUBU is TWEAKING and NNPCL'S SHENANIGANS?.
Dangote's refinery came on stream and NNPCL started their refining magic in port Harcourt and warri.
The PORT HARCOURT refinery has proven to be epileptic and WARRI has only been refining diesel. ( Who knows if NNPCL isn't up to their OLD GAME of "IMPORTATION" OF THEIR HOME REFINED FUEL)
I ask again, WHERE WOULD WE HAVE BEEN WITHOUT DANGOTE REFINERY?

[quote author=Sheuns post=133968336]NNPC no dey announce their prices?

Thought they have 2 functioning refineries now.

Which prices?....for Refineries that doesonly diesel ( at least in warri that i live in, the port HARCOURT own is even mostly epileptic and cosmetic).
They just used those two " functioning " Refineries to whittle down the amount of crude to dangote refinery on the naira for crude transactions.
Ndi oshi!!.😤😡

olatade:
https://tribuneonlineng.com/breaking-dangote-refinery-crashes-ex-depot-petrol-price-to-n890/amp/

Dangote is a deceiver,he was actually planning g to increase the price and then boom, oil marketers started receiving oil from warri and port Harcourt Refineries.
It reminds me if when Abati ask PBAT about price control , the president said he doesn't belive in manipulating price(Price control) he said let the market force come to play, all what we can do is to keep supplying the market, they "Dangote and his likes) will have no choice than to bring the price down.By the time the market become saturated hording become useless and need to quickly let out product for competitive prices arises.
Tomato was over 100k few mobts ago, now 10,000 per basket

Kreesxxx:
Naira will depreciate next week to balance price.

which naira is depreciating?? You don't know what's going on bro.

olatade:
https://tribuneonlineng.com/breaking-dangote-refinery-crashes-ex-depot-petrol-price-to-n890/amp/

You get fuel in naira and refune locally and you are sayinh price reduced because of global prices.

Which part of your operations is exposed to global trade?

Gboss247:
Removal subsidy and subsidize imported petrol secretly

Subsidize imported petrol how? If they are doing that, how come the price of imported petrol is almost thesame as that of Dangote? What is the current landing cost of petrol?

sucess001:
You get fuel in naira and refune locally and you are sayinh price reduced because of global prices.

Which part of your operations is exposed to global trade?

The crude oil sold to Dangote in naira is not subsidized. It’s at the exchange rate level. Besides Dangote does not get all his crude oil from Nigeria in naira.

Gboss247:
Removal subsidy and subsidize imported petrol secretly

Why u dey confuse yourself

Dangote style

GeneralDae:
This is what it means to remove subsidy. This is how price of petrol fluctuates worldwide depending on movements in price of crude oil. Nigerians are not used to it yet because of decades of fuel subsidy.

In this case, this is monopoly at work.

This is not the last of this.

Dangote can afford to go as low as 500 or 600

But he knows that he is a Tiger in the midst of pussycats.

Just keep in sptep with their puny littel moves and milk as much profits as possible.

EVenetually, all this small players will fizzle out when they can no longer match baba's moves.

When they are all gone, baba will then move price back up

Just like he did with cement

If the govt can't subsidize oil
It would be nice if oil sellers too emulate bdc operators MO.
since dollar price determines oil price.
Everyday, current price of oil should be announced and used by all filling stations

Kreesxxx:
Naira will depreciate next week to balance price.

You know, right?