₦airaland Forum

Aradel seriously doing some quantity. Over 6billion Naira done. Is that a seller? Cos the price has fallen to 520 officially as much of the huge trades were done at 520.

Olaide1295:
Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

The same Dangote some of your ilk gets dollar at subsidized rates is the same Dangote that will wait for weeks to get dollar? Illogical reasoning!

The enabling enviroment created by Tinubu has Damgote' s name specifically attached to it?

It seems the argument of monopoly no longer suits the narratives.

Olaide1295:
Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

Nah. I would say in this case, Emiefele supported the refinery by ensuring Dangote had smooth access to FX at official rate. If Dangote was still building at a critical stage in 2023 and 2024, he would have struggled due to the instability and constant devaluation of the naira then but the official rate crawling peg during Buhari’s time (especially from 2016 to 2023) was more stable for him. Also, Emiefele/Buhari took the project as a critical one. But this easy access to cheaper FX would not have continued for long though if FX scarcity at CBN continued and net reserves dried up.

Olaide1295:
Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

How about government left the currency to float and there was no refinery, we're still looking for $2bn monthly to import fuel, would the currency not have collapsed?

No one is saying government policies haven't been super helpful, what I'm saying is that when Alhaji decided to stake $20bn on the economy about a decade ago, it was a seed he planted, and the impact of that on the economy shouldn't be understated.


Currency peg was removed in 2023, yet the impact was that diesel went from 1050 to 1700.

Maybe it's so easy to forget

It wasn't another currency peg removal that brought diesel down from 1700, it was a local refinery that started producing, what we're saying is that he too (like the government) deserves credit that's not small.

GeneralDae:
Nah. In this case, Emiefele supported the refinery by ensuring he had smooth access to FX at official rate. If Dangote was still building at a critical stage in 2023 and 2024, he would have struggled due to the instability and constant devaluation but the official rate peg was more stable for him and Emiefele/Buhari took the project as a critical one. But this would not have continued for long though if FX scarcity at CBN continued and net reserves dried up.

You're right.

The fx policies at the time, though bad, was of net benefits to the completion of the refinery.

Alhaji likes to say CBN only gave him $2bn , but they probably gave him more by keeping the rates low, and since the bulk of his earnings were in naira, he could artificially get more dollars.

NGX considers extending trading hours to 5.00 pm
https://punchng.com/ngx-considers-extending-trading-hours-to-5-pm/

ppogba:
This imaginary prices have been disputed severally in recent weeks on this same platform.

Gas is around N920,N950 and well below N1200 in several places now.

Don't take saying things untrue about happenings in the economy a full time job.

he's always talking about his experience. You call it imaginary.

You are the one making general meaning from his experience.

Gas still around ₦1100 here.

awesomeJ:
How about government left the currency to float and there was no refinery, we're still looking for $2bn monthly to import fuel, would the currency not have collapsed?

No one is saying government policies haven't been super helpful, what I'm saying is that when Alhaji decided to stake $20bn on the economy about a decade ago, it was a seed he planted, and the impact of that on the economy shouldn't be understated.


Currency peg was removed in 2023, yet the impact was that diesel went from 1050 to 1700.

Maybe it's so easy to forget

It wasn't another currency peg removal that brought diesel down from 1700, it was a local refinery that started producing, what we're saying is that he too (like the government) deserves credit that's not small.

True, without Dangote refinery coming on stream, I doubt Tinubu would have successfully removed fuel subsidy by now. He removed it on May 29th, 2023 and then floated the naira in June. The resulting inflation and increased money supply shut the naira to 1000 by October 2023 and he had to bring back subsidy again by using only the official rate of 800 for PMS imports.

This got worse in February 2024 when we harmonized both official and parallel rates again at 1300/1400. We did that but we were still subsidising PMS imports by using the 800 rate until October 2024 when subsidy was fully removed because of Dangote’s entrance.

Between December 2023 and September 2024, NNPC was owing international oil marketers $6.8 Billion and serious fuel queues returned as a result of this. We were on our way to serious collapse.

Toluway:
NGX considers extending trading hours to 5.00 pm
https://punchng.com/ngx-considers-extending-trading-hours-to-5-pm/

Interesting.

They mentioned trying to increase daily trading volume 10x

From the current $11m to $100m.

Cool.

But they should expand the infrastructure first sha.
.cos even this $11m currently causes a lot of lag in the data stream.

Active trading sessions will now be 440 minutes from the current 260.

GeneralDae:
True, without Dangote refinery coming on stream, I doubt Tinubu would have successfully removed fuel subsidy by now. He removed it on May 29th, 2023 and then floated the naira in June. The resulting inflation and increased money supply shut the naira to 1000 by October 2023 and he had to bring back subsidy again by using only the official rate of 800 for PMS imports.

This got worse in February 2024 when we harmonized both official and parallel rates again at 1300/1400. We did that but we were still subsidising PMS imports by using the 800 rate until October 2024 when subsidy was fully removed because of Dangote’s entrance.

Between December 2023 and September 2024, NNPC was owing international oil marketers $6.8 Billion and serious fuel queues returned as a result of this. We were on our way to serious collapse.

You now made it seem like we were arguing??
We're basically saying the same thing.

And I'm not a politician at all.

I haven't had voter's card since 2011. And i'v never voted.

awesomeJ:
You now made it seem like we were arguing??
We're basically saying the same thing.

And I'm not a politician at all.

I haven't had voter's card since 2011. And i'v never voted.

Arguing? Notice I said true at the beginning. I wasn’t debating your points but I was giving more details especially to Tinubu supporters who keep saying he was bold on subsidy removal. I am saying I doubt he would have allowed full deregulation by now without the Dangote effect which started in October 2024.

GeneralDae:
Importers still dominate the market for now alongside NLNG. But wholesale prices in Nigeria range from 740 to 1000 at the moment with Dangote selling the cheapest at 740 as at August 2025. No retailer should be selling above 1300 currently anywhere in Nigeria and none above 1100 anywhere in Lagos but for greed and other factors.

“Dangote’s cooking gas price cheapest in Nigeria Checks by Legit.ng on petroleumpriceng’s price data show that the refinery slashed the LPG price to N740 per kg, the lowest among depot operators and cheapest in Nigeria. The latest price is also the cheapest the refinery has sold cooking gas in 2025 after rates jumped above N1,000 per kilogramme. Experts have hailed the move as exemplary, urging other operators to follow suit. They also attributed the latest price cut to the declining crude oil prices in the international market. Read more”:

https://www.legit.ng/business-economy/energy/1669173-after-pms-dangote-refinery-slashes-cooking-gas-price-n800kg-lowest-nigeria/

Gracias..
True.. ₦740 as you said.👍

Toluway:
NGX considers extending trading hours to 5.00 pm
https://punchng.com/ngx-considers-extending-trading-hours-to-5-pm/

5pm will be boring

I believe the disparity in LPG across locations is mainly transport especially poor Road network issues..
Some places, hinterlands and remote villages can only be passed by Okada or keke or smaller cars.
-An LPG truck can't get to direct consumer destination..
-
Creating unnecessary middle-men along supply chain.


some areas just have fuel stations and less or no Major gas stations creating scarcity and monopoly of some sort.
I won't dispute anyone buying as high as ₦1200

GeneralDae:
True, without Dangote refinery coming on stream, I doubt Tinubu would have successfully removed fuel subsidy by now. He removed it on May 29th, 2023 and then floated the naira in June. The resulting inflation and increased money supply shut the naira to 1000 by October 2023 and he had to bring back subsidy again by using only the official rate of 800 for PMS imports.

This got worse in February 2024 when we harmonized both official and parallel rates again at 1300/1400. We did that but we were still subsidising PMS imports by using the 800 rate until October 2024 when subsidy was fully removed because of Dangote’s entrance.

Between December 2023 and September 2024, NNPC was owing international oil marketers $6.8 Billion and serious fuel queues returned as a result of this. We were on our way to serious collapse.

I agree. It was a big Moral booster to remove the subsidy.
Which they couldn't even accomplish entirely until DIL improved our exports simultaneously reducing forex requirement for petrol imports, etc

Agbalowomeri:
5pm will be boring

Jijoing can happen 2-3x a day..
jijoist fit make 20% in one day.
Buy low(9-11am),
sell high(12-2pm),
buy low again(2-4pm),
sell high(4-5pm)

Toluway:
NGX considers extending trading hours to 5.00 pm
https://punchng.com/ngx-considers-extending-trading-hours-to-5-pm/

Hmm..
This one is now officially 9-5 job.

GeneralDae:
Arguing? Notice I said true at the beginning. I wasn’t debating your points but I was giving more details especially to Tinubu supporters who keep saying he was bold on subsidy removal. I am saying I doubt he would have allowed full deregulation by now without the Dangote effect which started in October 2024.

Ahh...
My bad oh!!!

It's that GeeKudi guy I was thinking about 😁

I was sha wondering, how come this person suddenly started making sense.


No offense to GeeKudi.

GeneralDae na my guy na.

I guess I mixed up the monikers cos I haven't had breakfast 😁😁😁

Agbalowomeri:
5pm will be boring

Is 2pm not already boring for you 😁😁

With index refusing to touch your 130k?

My thinking is even if they change to 12pm closing, it'll still be boring since your kind of bears only come once in 5 years.

It's looking more like once in a generation with the way the economy is shaping 😁😁

You're still my favorite uncle o.

I'm just saying, time flies when you're having fun, not so much when you're waiting endlessly.

I think so too.

Agbalowomeri:
5pm will be boring

GeneralDae:
Nah. I would say in this case, Emiefele supported the refinery by ensuring Dangote had smooth access to FX at official rate. If Dangote was still building at a critical stage in 2023 and 2024, he would have struggled due to the instability and constant devaluation of the naira then but the official rate crawling peg during Buhari’s time (especially from 2016 to 2023) was more stable for him. Also, Emiefele/Buhari took the project as a critical one. But this easy access to cheaper FX would not have continued for long though if FX scarcity at CBN continued and net reserves dried up.

There were others that had unfettered access to FX rate during Buhari's government but what did they do with it? They decided to make short term gains. Later, they will all come out crying that Dangote is monopolizing the market. The FX market is no more for lazy people, thanks to government's FX policies.

chimex38:
Jijoing can happen 2-3x a day..
jijoist fit make 20% in one day.
Buy low(9-11am),
sell high(12-2pm),
buy low again(2-4pm),
sell high(4-5pm)

We pray the graph is that straight o.

The reality for day traders is that you fit buy 9am thinking you got a bargain, 10 am, offers exceed bids, 4pm full offer, 3 months laters you're still hoping.

reezee:
There were others that had unfettered access to FX rate during Buhari's government but what did they do with it? They decided to make short term gains. Later, they will all come out crying that Dangote is monopolizing the market. The FX market is no more for lazy people, thanks to government's FX policies.

Exactly!

Olaide1295:
Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

So Dangote success story now is Tinubu doing. Thank God social media does not hide.Was it not in this country that when Tinubu started. He started fighting alhaji via proxy.Alhaji was all over media shouting and even accused them of bringing fake products from Malta and accusing fingers on oando.NNpc under kyari wanted to make sure the refinery fails.They whr bent on importing as Tinubu was the petroleum minister

[quote author=

Streetinvestor2:
So Dangote success story now is Tinubu doing. Thank God social media does not hide.Was it not in this country that when Tinubu started. He started fighting alhaji via proxy.Alhaji was all over media shouting and even accused them of bringing fake products from Malta and accusing fingers on oando.NNpc under kyari wanted to make sure the refinery fails.They whr bent on importing as Tinubu was the petroleum minister

You lots wrote up a fake story about Tinubu fighting Dangote and believed your own lies.
Was it not Hundeyin that said the refinery project is a scam and conduit for embezzlement?
Who initiated the free trade zone in Lagos? who implemented Naira for crude? Who is building road in Ibeju to allow easy evacuation of products? He also allows business men have direct access to him.
Y'all believe your own one-sided stories....

reezee:
Don't you think government policies are the reasons why Dangote is able to have significant impact on the economy? I believe the aim of every government should be creating an enabling environment for businesses to thrive. Even Dangote always acknowledge the influence of the government in making it easy for his businesses to thrive. We can blame them for many things, but deregulation has ensured that there's healthy competition in the market.

Yes Govt policy is a factor. But most are directly non-implementable without a fight with the same govt. So what's the essence.
It makes it look like just paperwork.
Dangote has spoken more words publicly in the past 2yrs than he has for his other businesses.
Cuz he's fighting internal Govt cabals, corrupt distribution chain, outdated status quo that benefits a few, etc
Despite the the govt policy via PIA act.

Our electricity has been deregulated, it's implementation is causing friction as seen with NERC/EEDC/MainPower Vs EERC. Even the natural role model- Ikeja and eko Disco amongst others are watching to learn from the Fiasco..

Or is it the Immigration by the able minister of interior who has tried to transform Visa and passport issuance to be more seamless via online has been fighting racketeering of passport issuance since January 2024; despite issuing the favourable policy and introducing the seamless online platform. The staff still had a way to "manuallize" the process so that "boys must chop". The online marketing and process and the entire policy transformation seem like just propaganda..
2 yrs after issuance in January 2024. This is September 2025.


If he enters these areas of Electricity, mining, ranching, immigration, steel, etc with good govt policy on face value, we will feel the impact
of the actual reform at grassroot.

Navigating The internal nuances(cabals, stagnant status-quo, corruption,etc)are as bigger and cumbersome than just reforms and policy.
He actually does the transformation and policy implementation with his usual slogan:
"I have been fighting all my life".
Govt didn't hand over conducting environment on a platter. They want business men to earn it by fighting same govt off if they can.("unwritten nuances:"
That's why I think other Big players are scared to enter some sectors despite all these deregulation policies across sectors; beautiful on paper and you must really be skeleton free.
But not DIL.
That's why DIL is a Republic inside a Republic

awesomeJ:
Is 2pm not already boring for you 😁😁

With index refusing to touch your 130k?

My thinking is even if they change to 12pm closing, it'll still be boring since your kind of bears only come once in 5 years.

It's looking more like once in a generation with the way the economy is shaping 😁😁

You're still my favorite uncle o.

I'm just saying, time flies when you're having fun, not so much when you're waiting endlessly.

Go and find out more about NEPAL....Power is transient and it belongs to the people

bastardson:
Bro this na illusion.

Nobody born of a woman can win that dude.

Let’s just forget about that. It’s better to focus on 2031.

PBAT no be GEJ.

I no dey even reason 2027 for now.. Totally and absolutely sealed.

Be like sey market dey stagnant. My portfolio is not going up or down.

Streetinvestor2:
So Dangote success story now is Tinubu doing. Thank God social media does not hide.Was it not in this country that when Tinubu started. He started fighting alhaji via proxy.Alhaji was all over media shouting and even accused them of bringing fake products from Malta and accusing fingers on oando.NNpc under kyari wanted to make sure the refinery fails.They whr bent on importing as Tinubu was the petroleum minister. Make una no dey change the narrative abeg.They rushed to claim that government refinery was working..ph refinery. Which was all stage managed to discredit Dangote refinery.

Dangote was even smart and wise enough not to accuse NNPCL and UPRDC directly during the heat of the process.
When they insulted his fuel as fake and not up-to standard, yet he focused on defending himself and his refinery rather than banter insults TO NURPC.
yet today he exports to USA, to Shell, etc. passing through the most stringent scrutiny and standard for export requirements.

Yet they say it's ultimately someones else reform. Not entirely.

DIL is a sovereign republic inside a republic

The market is different today.

Low volumes and few greens and reds.

Olaide1295:
Don't mind them. Dangote refinery coming to life is because Tinubu set enabling policies.
If dollar peg was still there and Dangote needed to lobby CBN and wait for weeks before he gets USD to buy crude oil, won't the refinery have collapsed?
Good govt. policies have a way of smoothening out business that you will think success has nothing to do with the government.

We have abundant cocoa before DR..
Since primary and secondary school we've been taught that cocoa is a cash crop, Cashew and groundnut is a cash crop, export commodity.
Why are these raw materials or processed materials easily exportable..
Why are our rates low?
Government policies have been deregulated and incentivized for agriculture since Buhari and now Tinubu's regime. With so many waivers, etc..
If dangote enters into these crops and create processing transformation while fighting the cabals within. You will still give glory to Govt..
Why are other businesses in other sectors not taken advantage to expand and export at scale...
The untold internal nuances below the beautiful public policies holds sway and it's the untold ultimately rule of operation.

cuz the popular mantra if you can't beat them, you join them is REAL.
Its keeping businesses at bay and thus, we can't meet export standard in most of our produce.
Let DIL choose to enter cocoa, groundnut, etc purely for export and you will see our forex inflow rate in Cocoa export alone. Then you will say it's govt policy.

That's why I say DIL is a sovereign Republic inside a republican