₦airaland Forum

donsufia:
You are wrong here. Monopoly is the worst thing in economy. Let Dangote face competition at list for the first time and know how it feels. I can assure you, but not this competition from NNPCL, Dangote fuel would go for over 2k per liter. If you doubt me. Checkout Cement price.....

Which competition?

SmartyPants:
It's a free market. Everyone is free to source from wherever. Thus creates room for fair competition that leads to fair pricing.

While not go and source petrol from Europe without NNPCL secret subsidy

Babangidapikin:
Cement price is going up because Government is over taxing the sector and the currency is not stable to plan long term. Dangote and NNPCL competition is good, provided they don't fail as a company because most of their exposures is going to affect the Nigeria economy adversely if they both fail.

Which competition is between Dangote and NNPCL?

galserv:
Good

Subsidy removal is yielding fruits

Subsidy debts stands at N10.499 trillion

kokoA:
Dangote oya reduce your own to 600 Naira.

He will run at a loss. He thought oil biz is like cement.

Marketers will finish him

COMPAQ:
There is no nonsense price war. Prices are reacting to lower crude prices and better exchange rate, both of which are the two key determinants of the price in Nigeria

The first reasonable comment on this thread prepared with logical reasoning and critical thinking

Sugarboyy:
If the government stop the importation, monopoly will set in and Dangote will increase his price to maybe 1k. Then, no marketer will be able to challenge him because there won't be alternatives.
It's the same mistake the FG made with cement. Even when almost all resources needed for the production of cement is sourced in Nigeria, cement is still 10k per back.
If the FG opens the borders to cement importation, within 6 months, cement price will reduce to like 5-7k per back.

When both you and your children becomes slaves to World Bank and IMF, you know the consequences of borrowing dollars to import expensive and subsidy secretly.

Heavensake1:
Stop being emotional and reason like a real Nigerian.
The reason between then and now was that subsidy has been removed,govt no longer fix price to pay subsidy.

Subsidy is at N10.499 trillion

Obaaderemi2:
The Best thing that happened to Nigeria's economy in recent years is the removal of fuel subsidies

Subsidy is N10.499 trillion

nairalanda1:
As expected.

Competition. And it will get worse once BuA, and other refineries come on line.

keep dreaming

deeptechcool:
If there's no importation, Dangote will not reduce its price. Competition is good for Nigerians.
If importation is allowed for Cement, a bag would be sold below 4000.

keep dreaming until you become a slave to World Bank and IMF because of borrowing loans to import expensive substandard petrol and subsidy it secretly.

kay29000:
Yes o. Let the competition continue. It needs to come down to 500.

keep dreaming

Heavensake1:
Oga,no more sunsidy. No one needs to tell you that that after seeing competition between Dangote and NNPC.

Subsidy stands at N10.499 trillion, wake up!

Gboss247:
Subsidy debts stands at N10.499 trillion

Subsidy debts from when to when? Please back up your claims

Gboss247:
Subsidy is N10.499 trillion

Ok. This is for one year? Please post evidence

Obaaderemi2:
Subsidy debts from when to when? Please back up your claims

From Tinubu's inaugural speech to February 2025

Babangidapikin:
Better don't reduce your fuel below what would give you profit, all this imported fuel could be stolen crude refined or cheaply blended ... What is important is for the regulator to stop this importations before it creepies Nigeria Economy ..

You talk like someone that doesn't know a thing about economics, how will this effort to curb monopoly cause Nigerias economy to cripple?
You want only Dangote to produce the fuel we all use and peg the price at 1200?

ClearFlair:
Why is petrol still being imported when Nigeria has crude oil and refineries

heard of free market? Abi na monopoly u want?

Mccollins042:
You talk like someone that doesn't know a thing about economics, how will this effort to curb monopoly cause Nigerias economy to cripple?
You want only Dangote to produce the fuel we all use and peg the price at 1200?

Do you understand the meaning of Monopoly, NNPCL alone owns 4 refineries in strategic places, they are modular refineries in operation, one big refinery by Oga Samad coming up in Akwa Ibom, more licenses issued recently.. so tell me where the Mono is coming from.

EponObi:
Abeg shut up. It's not by force to comment.

What is happening is result of supply and demand and the effect of the free market in the downstream sector. No business man will do business at a loss. The price reduction will keep happening so far global crude oil price keep crashing and these importers and Dangote still have room to wiggle with respect to profit.

Elemi lo ma last. Meaning "only the strong will survive".

When Tinubu said something to that effect last year during his media chat, he knew what he was saying. But as always, majority failed to pay attention (like they always do) to concentrate on irrelevant stuff.

And what do you mean by "What is important is for the regulator to stop this importations before it creepies Nigeria Economy"

Lmaoooo. It's either you are slow or you doing the dirty work for Dangote. Lol. So we should stop importation of PMS so Dangote can roam free to fleece Nigerians like he does with his cement business and how our local farmers r@aped us for years?

Sometimes I don't know what goes on in people's heads. Free market is good for the ppl, if na only Dangote I'm sure pms would be 1200

Mccollins042:
You talk like someone that doesn't know a thing about economics, how will this effort to curb monopoly cause Nigerias economy to cripple?
You want only Dangote to produce the fuel Cwe all use and peg the price at 1200?

Can you explain how Dangote will sell petrol at N1,200 if he is the only producer

Mccollins042:
heard of free market? Abi na monopoly u want?

Where is the monopoly?

Mccollins042:
Sometimes I don't know what goes on in people's heads. Free market is good for the ppl, if na only Dangote I'm sure pms would be 1200

How will petrol be N1,200 if Dangote is the only producer

mauchiz:
They should keep fighting until it gets to five hundred naira

Who is fighting?

But this was bad?

seunmsg:
Not bad.

Gboss247:
Subsidy stands at N10.499 trillion, wake up!

Who is Fg paying to? Dangote?? Oga,na old subsidy wey Buhari owe be that.https://punchng.com/fg-nnpcl-work-out-n7-7tn-fuel-subsidy-debt-payment/

DMerciful:
But this was bad?

Not bad.

Gboss247:
Subsidy debts stands at N10.499 trillion

Says who?

Gboss247:
When both you and your children becomes slaves to World Bank and IMF, you know the consequences of borrowing dollars to import expensive and subsidy secretly.

What's wrong with this poor idiot?
We are all having our individual discussion just for the betterment of the country at large, what brought in my children into it?
You idiots behaves as if someone else is the cause of you guys miserable and poverty stinky lives.
Imagine the fool still talking about subsidy when even the highest known critiques of the government has finally admitted that subsidy payment has finally stopped... I won't be surprised if you were among those that was against the removal of this same subsidy by the government.
Your children will not end well in life, they will be worse and poorer than you in this life. They will beg just to feed and will forever be under the care of their peers in all ramifications of life. Ozuo

Sugarboyy:
What's wrong with this poor idiot?
We are all having our individual discussion just for the betterment of the country at large, what brought in my children into it?
You idiots behaves as if someone else is the cause of you guys miserable and poverty stinky lives.
Imagine the fool still talking about subsidy when even the highest known critiques of the government has finally admitted that subsidy payment has finally stopped... I won't be surprised if you were among those that was against the removal of this same subsidy by the government.
Your children will not end well in life, they will be worse and poorer than you in this life. They will beg just to feed and will forever be under the care of their peers in all ramifications of life. Ozuo

Wake up!

Gboss247:
From Tinubu's inaugural speech to February 2025

You don't understand what you posted. From your report: the subsidy debt was #10tr.
That was old debt. Then there was a breakdown of how that accrued on a periodical basis due to exchange rate differential. Remember how the exchange rate behaved like a yoyo from June 2023 to late 2024. Please stop misinforming people here

Obaaderemi2:
You don't understand what you posted. From your report: the subsidy debt was #10tr.
That was old debt. Then there was a breakdown of how that accrued on a periodical basis due to exchange rate differential. Remember how the exchange rate behaved like a yoyo from June 2023 to late 2024. Please stop misinforming people here

N10.499 is the total subsidy debt,
N7.74 trillion is the remaining debts
N2.756 trillion is the subsidy paid