₦airaland Forum

iwaeda:
That we are celebrating N860, so we will be back to over One thousand. We told them our refineries are not functional, they called us Mazi Emeka. Our sense will come back very soon.

Some ppl here have permanent brain damage, don't expect their sense to come back,so u will not b disappointed....

CodeTemplar:
The first 5,000 senior officials of NNPCL should be locked up in an island with no comminication link with the world. Anything short will lead to stupid competition with sane investors.

as a matter of fact that company should be closed and everyone sacked ...let oil companies and refineries sell and pay their duties to government coffeee ..NNPLC is nog needed .

yemmit90:
Perhaps they sense that Dangote might be doing price slashing intentionally to force others out of business. That is how rich monopolists do to wade off competitors.

They should just do what will benefits the masses.

The combined capacity of all NNPC refineries is more than Dangote’s. If they want to curb monopolistic tendencies, they can do that by getting them to work at full capacity. Importation is not the solution.

Number one, as we are seeing unfold before our eyes, there is a growing discontent among the importers and import-enablers about reducing prices as Dangote cuts down on the price. Importation of PMS will never be at par with local production done efficiently in terms of cost. It will most often than not cost more to bring the product from outside.

Number two is the value of the currency. If we continue to kick against Dangote, we are cutting our noses to spite our faces. This is because fuel is the key import item in Nigeria and if we keep using scarce dollars to procure the product, the currency will suffer. And the currency suffering will affect every other thing like living standards, high cost of everything, employment, etc etc.

Paraman:
Thecable should stop writing foolish articles filling stations can't increase price anyhow because the market is deregulated, If you stupidly increase price, you will be run out of business.

You are the own writing nonsense, which deregulation when both price of fuel is to go high as a result of high exchange rate to get the crude

Why does the NNPC like creating problems for everyone ?

iwaeda:
That we are celebrating N860, so we will be back to over One thousand. We told them our refineries are not functional, they called us Mazi Emeka. Our sense will come back very soon.

You mean our neighboring idiots that doesn't have any atom of sense.

In the zoo, it's the government against the people. Government stealing from the people and the people struggling to fight back due to division. You see this fuel, the corrupt niggers will never allow it to come down. It is 1000 or nothing

adebowales:
If tinubu sack mele kyari now, you will see some Aboki’s shouting he is against the north

Tinubu has not kicked against any move by NNPC and he hasn’t refuted any of the actions of Mele Kyari. Why do we think that NNPC is acting outside of Mr President’s wish?

Dogalmighty17:
The grave destruction of the economy that Buhari carried out will be felt for years to come. Buhari used Nigeria's future oil production as collateral for all the huge loans he was collecting. Everything that the NNPC will produce for the next 5 years has already been mortgaged. The NNPC was only able to contribute less than 100 billion naira to the nations treasury last year. Buhari sold this country out.

keep quiet if you don't have anything meaningful to ads

Paraman:
Thecable should stop writing foolish articles filling stations can't increase price anyhow because the market is deregulated, If you stupidly increase price, you will be run out of business.

Just keep deceiving yourself, by 2026 una eyes will open wide.

You want to build Nigeria economy with lies and propaganda, oya let's see how.



🤣🤣🤣🤣🤣🤣🤣

alizma:
This is why it's difficult for any individual called president to fix this country. These criminals can't stand to watch the price going down further.

You underestimate the powers of the commander in chief of the armed forces. By a single move, he can make replacements. I cannot exonerate the president since he hasn’t come out to kick against anything that NNPCL has done to the detriment of many Nigerians.

richmond500:
comprehension is still ur problem.
No part of the article says refinery is not working.

Na ur kind deh even sort GST

Crude naira swap, how will refinery get Feed.

helinues:
Toh

Helinues

You have resumed to chanting Toh since you can't state one progress of Bobo Chicago

nnpc created the problems for themselves. there are more refineries, and it is causing pain for nnpc.
their past leaders already benefitted and left the rotten place for the next generation to suffer

swiftconcept:
Why does the NNPC like creating problems for everyone ?

Nigeria system of government is outdated nd all
Our leaders are mad.. u add an increament of #5 nd later u reduce 50 kobo nd call it reducement…. As ppl dy talk say petrol is 890 or so I Jst laff… By d time dy increase it na like 1k Gerege it go b…. We Dnt knw wat nxt sha by d time tinubu finish wt Nigerians WalAhii Somalia will b better Dan us..

MrDoGood:
Do you know what monopoly is?

What do you know about monopoly?

Let the oil cabal invest in local refineries in Nigeria or even build new ones instead of overseas. You can't tell me that a whole NNPC cannot afford to build one state of the art refinery with all the dollars wasted on subsidy.

Have you thought of the pressure this policy flip is going to put on the Naira? We are going back to the era of forex scarcity and you know what that means.

I dey with you eeyan mi.

iwaeda:
That we are celebrating N860, so we will be back to over One thousand. We told them our refineries are not functional, they called us Mazi Emeka. Our sense will come back very soon.

CodeTemplar:
i call him the able Alhaji. Maybe the govt should give him his own oil well so he can extract crude and take to his refinery directly. That wil save us all from the middlemen seeking rent on every barrel.

It is a dilemma of some sort.

Dangote owns multiple oil wells via MRS.

Squere:
Una matter don tire person

.. what did you expect.... when nigerians voted an incompetent and clueless president into power..it's a pity

This is the results you get when you vote an incompetent,dull and old man into power..it's a pity

Expected. I was with a paddy recently, a guy involved in the petrol importation business. He spoke of how dangote was spoiling business for them by reducing price thereby affecting their margins and that he had put a hold on importation as the gain was not there he said I I should watch and see, prices will soon go up, that so many businesses were being threatened by dangotes reduced price, say the man wan drive them out of business.
It is only expected that suspension of crude to local refinaries will happen to enable margin to be created for importers.

richmond500:
Let me explain, though NNPC is not meeting the agreed quota but the naira-crude has helped in easing the pressure on the local currency.
If the N/C stops, the naira will face pressure thereby giving us low purchasing power

You are correct academic wise, But if you are conversant with the news report as shown more importation into the country despite Dangote productivity

1. it is wrong to opine the Naira crude swap as made a post- impact when the xchange rate still reflect values pre- naira crude kick off

2. Most recent report shows Nig. spend 930bn importing fuel how is that easing pressure on local currency,
3. overall our local production is being downsized for various challenges meaning we are still largely dependant on importation

If N/C was a genuine, Maybe it with have those impact as you wish, but the present value of naira 1540/$1 tells any economic enthusiast Naira is under pressure infact recent cbn intervention minimizes the effect.

We are not doing anything different, expect less from naira

Realdeals:
Not much would change. The crude oil sales at Naira is still at the equivalent of the USD. The implication is that Dangote could now be requesting USD from marketers, but I doubt he would.

You forgot that, once that happens, the FG will once again start spending more on FX subsidy. This will put a strain on government coffers, causing them to reduce the subsidy, which will in turn cause the fuel price and exchange rate to spike

donself9:
crude for naira swap is not the factor behind recent Pms price drop, global oil price is the culprit here

Crude for naira swap does not negate int'l market price, Nnpc sells crude to dangote at naira equivalence of int'l barrel price,

Nnpc as never met Dangote needs, therefore dangote importing crude wont be a big challenge.
what can trigger a significant hike in Pms price is if int'l market price start going up again, maybe mazi emeka suite you

But the issue here is that this will further weaken the Naira of Dangote is forced to get crude outside with dollars. This is total madness on the part of NNPC

Leaving the set of criminals parading themselves as NNPCL management is an act of disservice to this nation. Mele should have been in the same room with Emefele, because there is no offence committed by former CBN governor that NNPCL MD did not surpass. The cabal that retained the man is hell bent to suffer Nigerians. In sane society no government officials can contemplate this kind of policy.

TheBillyonaire:
It is a dilemma of some sort.

Dangote owns multiple oil wells via MRS.

Evidence of the multiple oil wells

Dogalmighty17:
The grave destruction of the economy that Buhari carried out will be felt for years to come. Buhari used Nigeria's future oil production as collateral for all the huge loans he was collecting. Everything that the NNPC will produce for the next 5 years has already been mortgaged. The NNPC was only able to contribute less than 100 billion naira to the nations treasury last year. Buhari sold this country out.

Where is your evidence?

UNTIL WE K*LL NNPC nothing is changing positively for Nigerians .

Melee kyari must step down from nnpcl. He is grossly incompetent n very corrupt

With NNPC still intact, Nigeria will never be good economically.

Nigeria Shaaa!

One step forward ..

20 Steps Backwards

olatade:
Dangote has exposed NNPCL and their evil. God bless Aliko Dangote

Dangote should start buying his crude from. Outside

CharleyBright:
NNPC have always bee the saboteurs in the oil sector and the economy.
Now that it seems the pump price is going down so the masses can buy Fuel at lower prices, the criminals in NNPC are not liking it, so they deploy strategies that will increase production costs of local refineries so price can go up.

Very useless criminal gang in that tower of corruption. For years they sit down enjoy fat salaries while the refineries are not producing a single drop of refined product.
In sane climes, the govt would have scrapped NNPC and arrested the top management staff and put them in jail

In sane climes, the govt would have scrapped the NNPC