₦airaland Forum

If they are bringing in subsidized Russian refined crude he should consider refining cheap russian raw crude also to neutralize their folly. He cries too much.

Another option is selling his refined product to outside markets especially West Africa.

Monopolizing in petroleum industries will be very difficult because they're organisation (opec) and local regulatory agency too

Kaycee9242:
This would have been good but one can't trust dangote, once he achieve this monopoly now his price will skyrocket.

There is need for healthy competition

Can you trust ebilokan?

The man who promised to crash petrol price in January 2023 but failed to do so, even after 26 months hitting the ground running aimlessly and cluelessly

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

However, pump price of fuel hit N537 per litre days after Tinubu ended subsidy.

On Tuesday, the price climbed further to N617, a development that the Nigerian National Petroleum Corporation Limited (NNPCL) attributed to “market forces”.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.

King Wasiu Ayinde Marshall, a Fuji musician who performed at the rally, interrupted the president’s speech with chants as the crowd cheered.

On the campaign podium with the president were Vice-President Kashim Shettima; Pa Bisi Akande, interim National Chairman of the APC; Femi Gbajabiamila, Chief of Staff to the President; Senator Gbenga Daniel; among other bigwigs of the ruling party.

Tinubu went further to say Nigerians would defy the acute fuel scarcity at the time and trek to cast their votes.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200/N500 per litre. Go and relax, we will crash the prices,” he had said.

https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-

he had said in the 7th minute of the video.



https://www.youtube.com/watch?v=4JH8CC_JdUA

Dangote hates competition

SuperEagles:
Who shoukd we then trust ? I remenber when your likes claim he was nit vuulding any refinery or his refinery will not work till 3030.

Is Innosson not enjoying the monopoly to set price of his cars at outrageous prices, why should Dangite be denied that advantage as well.

Your second paragraph is crap

Innoson isn't pushing for ban against imported cars, he's not even enjoying any monopoly and he's not a price setter coz options plenty.

Who dey even buy innoson self, u can't see more than two innoson vehicles on the road in a week and you think innoson has monopoly, dey play

Dangote the economic bandit.

dederocs:
Tinubu need to ban import of fuel, it is bad for our currency to be importing fuel.

Yes ..it devalues the naira and make it to lose value against the dollars

Dangote will show us shege if pres Tinubu mistakenly listened to him..

Let him compete favorably with foreign price please.

You want market control like you currently have in the cement industry, kuku kee Nigerians patapata now

Kaycee9242:
This would have been good but one can't trust dangote, once he achieve this monopoly now his price will skyrocket. There is need for healthy competition

.. importation devalues and depreciates the naira the more and make the naira to lose value..that is why oil marketers, entrepreneurs, oil private operators.. should build refineries in Nigeria even if it's modular refineries..so that this fuel, diesel can be produced in Nigeria and this private modular refineries will competite with dangote refinery and make the price of fuel cheap and affordable for Nigerians to buy..all this will stop importation of fuel and strengthen the naira and make the naira to have value

No oooo import is allowed even if bad fuel or expensive..

Just let everything be displayed for buyer to choose.

No to monopoly again .

Imagine if he offers tinubu 45% on profit for the export ban.. or election sponsor & north support

TINUBU needs all support for this election.. this one Dangote is making bold demands... Eeeweeeh 🤔🤔🤔

Nigerians have not forgotten that Dangote cement and other products are cheaper in Cameroon, and foreign countries than Nigeria where it sources it's raw materials and production in low prices conditions and local national subsidies and protection .

See how marketers n energy expert did not mention quality of fuel imported as per d statement frm dangote but based arguments on monopoly n free market only....that shows they are really importing rejected fuel

Kaycee9242:
This would have been good but one can't trust dangote, once he achieve this monopoly now his price will skyrocket. There is need for healthy competition

At the expense of local businesses that are creating jobs and paying taxes?

AMINDA:
Do you know what monopoly means? Has Dangote stopped anyone with a refinery license from building a refinery in Nigeria to compete with him? Why should he be competing with cheap impure fuel from Malta when he just invested 25 billion dollars in building a refinery in Nigeria? What now happens to buy Nigeria to grow Nigeria and the much touted "Nigeria First" policy.

What's our business with that...? Did he not know before going into the investment...all we care about as consumers is cheap product...simple as ABC....

ufotunang:
Yes ..it devalues the naira and make it to lose value against the dollars

Exactly, this devaluation of naira is our biggest problem now in Nigeria, spare parts, goods so expensive...ban importation of fuel, and join BRICS so we trade with nations with local currency.

Dangote should lobby the government to address the issue of substandard fuel instead. If cheaper imports are cheap because it doesn't meet standards. An independent lab doing the testing and funded by all parties involved sales of petroleum products. Obviously Dangote products should also be tested.

The problem of products of cheap Russian under price crude coming in can also be solved by making importers use only authorised refinery who don't use Russia crude. It is doable.

That would level the playing field and imports won't need to be banned

Kaycee9242:
This would have been good but one can't trust dangote, once he achieve this monopoly now his price will skyrocket. There is need for healthy competition

^^^
He actually invested locally and built a refinery here. (Let's put aside for now his very close ties to Nigeria's rapacious political and business elite).

We all understand that monopolies are bad. That is old news. What we want is for Dangote's critics to put their money down and build refineries locally too.

The nairalanda1 guy and his fellow travelers have suddenly gone silent. They all said subsidy removal would spur investment in local refining capacity etc.

We are still waiting.

ShobayoEmma:
The fear of Nigerians is finally coming to the open.
All this his reduction in fuel prices by Dangote is to first ensnare unsuspecting Nigerians to his side against the NNPC and the government in order to pressurize the government to do his bidding, the stage of which he is now.


After this stage, and importation of fuel is banned, he will then have the leverage to monopolize the market and increase the price of fuel as he pleases as the case with his Dangote cement.

In the article, he has already hinted that a liter of fuel costs $1 in abroad. That means $1=1550. Hence he's saying a liter of fuel should be sold for #1550 instead of around #900 currently.

Imagine the hardship Nigerian masses may face if government allows Dangote to have is way as being proposed.

God help Nigerians if the government oblige to his demand.



Tinubu, a bad man with good intentions.

Well, there is possibility of monopolistic nature from Dangote.
Solution
The govt should ban importation of petroleum... Encourage the IPMAN to organise themselves to invest and own a new refinery.

The same govt & the will of people will be there to dealt with Dangote if it raise its ugly head - monopolistic agenda

dederocs:
Exactly, this devaluation of naira is our biggest problem now in Nigeria, spare parts, goods so expensive...ban importation of fuel, and join BRICS so we trade with nations with local currency.

There should be an IQ test to comment on critical issues. How are you coping with rice and cement prices now? Local production of these commodities must have had positive impact on your finances.

What is good about BRICS? China and India, founding members, are still guarding jealously their western economic alliances. You are here glorifying a shitty alliance of mutually suspicious nations. Comot here jor!

Dangote is not to be trusted.

Do I need more characters again?

Kaycee9242:
This would have been good but one can't trust dangote, once he achieve this monopoly now his price will skyrocket. There is need for healthy competition

He can’t , BUA is coming soon and so many other refineries , it’s a matter of time before price crash

SuperEagles:
Who shoukd we then trust ? I remenber when your likes claim he was nit vuulding any refinery or his refinery will not work till 3030.

Is Innosson not enjoying the monopoly to set price of his cars at outrageous prices, why should Dangite be denied that advantage as well.

Which monopoly is Innoson enjoying? Has the Nigerian government banned the importation of used vehicles? Is anyone stopping Dangote from setting the prices of his commodities? He is free to do that...

bdon123:
See how marketers n energy expert did not mention quality of fuel imported as per d statement frm dangote but based arguments on monopoly n free market only....that shows they are really importing rejected fuel

So Nigeria doesn't have any government abi? No agency to certify the quality of products coming across our borders? Which kin country be this?

Dangote is relinquishing his position as chairman and retiring from the board to focus more attention on the $20bn refinery, petrochemicals, fertiliser, and government relations.

God abeg o

Your IPAN AND PETROAN- are the Real Enemies of Nigeria.
For these Association Bodies - have been in the System,Since Oil 🪔 came to Nigeria,
Manipulating things For themselves,
Care Less About the generality of Nigeria!
Were they Not With NNPC- IN THEIR CORRUPTION SHADES?
- HAVE THEY EVER LOWERED THE PRICES FOR NIGERIA?
- IS IT NOT DANGOTE REFINERY - THAT BROUGHT SOCOUR TO NIGERIAN OIL PROBLEMS - THEY ARE NOW TRYING TO FIGHT - BUT ARE NOT HAPPY DANGOTE REFINERY CAME ALIVE?
They WOULD RATHER LIKE THE- FUEL-IMPORTATIONS TO CONTINUE!
RADARADA PEOPLE EVERYWHERE!

Kaycee9242:
The best thing is to allow the two to exist, if dangote price is that cheap importers will naturally and gradually phase out but banning of importation of fuel will not end well believe me.

you are right that is why I don't support our narrative of backward integration which is what Dangote and BUA relied on to gain control of the cement and sugar industry. I got to know that At a time Otedola wanted to import Portland cement twice cheaper than that of Dangote but was sabotaged. I personally don't believe in local content if there is no competition. What the Petroleum Marketers ought to do is to pull up together into a group and build a refinery that rivals Dangote the unfortunate part is that it takes about 10 years to achieve that. So their best bet should be having multiple modular refineries lest say like 10 to 20, at least each can be completed in 2 to 4 years. With that they can beat his game

I don't think it's wise to ban fuel importation for now!

ayoncox:
you are right that is why I don't support our narrative of backward integration which is what Dangote and BUA relied on to gain control of the cement and sugar industry. I got to know that At a time Otedola wanted to import Portland cement twice cheaper than that of Dangote but was sabotaged. I personally don't believe in local content if there is no competition. What the Petroleum Marketers ought to do is to pull up together into a group and build a refinery that rivals Dangote the unfortunate part is that it takes about 10 years to achieve that. So their best bet should be having multiple modular refineries lest say like 10 to 20, at least each can be completed in 2 to 4 years. With that they can beat his game

Let them Start their Own Refinery - for there is nothing Unfortunately about that but you know what- they won't because - it's very easy to Get the Banks - to Prepare Import Documents and Bring Defined Products to Nigeria!
You can call that Emergency 🦺 Oil Contractors!
These Associations Cannot Even Accounts For The Money Being Received From their Members because of Corruption!

mastermaestro:
There should be an IQ test to comment on critical issues. How are you coping with rice and cement prices now? Local production of these commodities must have had positive impact on your finances.

What is good about BRICS? China and India, founding members, are still guarding jealously their western economic alliances. You are here glorifying a shitty alliance of mutually suspicious nations. Comot here jor!

Your big mouth didn't say anything.

We have been importing since independence, where have that taken us?

You are either a forex dealer or very ignorant, it is secondary school economics, balance of trade in international trade, if you import way more than you export, it affects your currency value negatively, it needs to be balanced or your exports higher than your imports. Mr big moouth small braain

I see dangote eyeing for presidency or political office soon

You think these guys care about anybody. Monopoly is the strength of Dangote. That's pure wickedness. Only me only me