₦airaland Forum

Dangote Petroleum Refinery has formally notified the NMDPRA of its readiness to supply 1.5bn litres of PMS monthly beginning December, rising to 1.7bn litres by February 2026.

The company also requested regulatory support on site validation, crude imports, and vessel clearance to ensure stable fuel supply nationwide.

that's good,by 2027 fuel will sell for 100 per litre according to agbero union nairaland branch

Was surprised when i read somewhere that they are importing to cover shortfall. If one barrel of cride can yield 49 litres of petrol, 650k X 49 is 30+ million litres petrol a month.

Let the product be affordable and accessible to Nigerians

Oga na master. He survived cabals led by the man at the helms, against all odds. I must learn this winning skill from him

BIRD has spoken ...oya make you na go site

The original Billionaire wey dey show workings 📌💯
That's 50M per day

PWANMaxGroup:
Let the product be affordable and accessible to Nigerians

I doubt that if you owned a refinery, you would sell fuel from there at N50 per liter to make it affordable and accessible to all Nigerians, after refining one liter from crude for at least N700 per liter.

Life is not fair, pretending that fuel was cheap wrekced 4 government refineries, and chased away much needed investment. All because we wanted cheap fuel that anytime government tried to bring some realism in 1987, 1992, 1993, 2005 and 2011/12, and even in 2015, y'all kept saying no.

Same issue with power supply.

Eriokanmi:
Oga na master. He survived cabals led by the man at the helms, against all odds. I must learn this winning skill from him

He's making enough profit to make it work.

If he was placed under a subsidy, and forced to sell fuel at N100 to help the poor, as most of you guys were wanting him to do, he won't be reaching this milestone, and the refinery would be on the way to scrap.

Tinubu is not my cup of tea, and he is a hypocrite, see 2011/12, when he opposed the subsidy, but at least he made the sensible decision to remove subsidy. You don't have to support him to realize it was a good idea.

ogolemati:
that's good,by 2027 fuel will sell for 100 per litre according to agbero union nairaland branch

Na so o.

If Tinubu can't crash it to N40 that APC promised when PDP's Jonathan was in government, or even the N70 that they said we should be paying in 2015, this N100 is not a bad idea .

Let him just fulfil his promise of crashing petrol price instead of doing the opposite since May 2015.

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.

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.


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



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

>>
>>>>

Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/
>>>
>>>

Buhari’ll reduce petrol to N40/L —David-West

FORMER Minister of Petroleum and Energy, Prof. Tamunoemi David-West, said that Nigerians should expect sharp drop in petrol price from the current N87 to about N40 per litre, saying, “the president-elect, Gen. Mohammed Buhari, will reduce the fuel pump price to N40 per litre.”

https://www.vanguardngr.com/2015/04/buharill-reduce-petrol-to-n40l-david-west/

=

nairalanda1:
I doubt that if you owned a refinery, you would sell fuel from there at N50 per liter to make it affordable and accessible to all Nigerians, after refining one liter from crude for at least N700 per liter.

Life is not fair, pretending that fuel was cheap wrekced 4 government refineries, and chased away much needed investment. All because we wanted cheap fuel that anytime government tried to bring some realism in 1987, 1992, 1993, 2005 and 2011/12, and even in 2015, y'all kept saying no.

Same issue with power supply.

My friend, curruption spoilt the refineries, not cheap price. If the price they are selling cannot cover the cost, can't they say so and adjust the price.

nairalanda1:
He's making enough profit to make it work.

If he was placed under a subsidy, and forced to sell fuel at N100 to help the poor, as most of you guys were wanting him to do, he won't be reaching this milestone, and the refinery would be on the way to scrap.

Tinubu is not my cup of tea, and he is a hypocrite, see 2011/12, when he opposed the subsidy, but at least he made the sensible decision to remove subsidy. You don't have to support him to realize it was a good idea.

If we forget that he used pastor Tunde bakare and other cashtivists to sabotage PDP's 2012 deregulation of the fuel sector, should we also forget that he has stolen the $84 billion subsidy savings and is borrowing more that PDP presidents who gave us cheap petrol and better life

What is the usefulness of a good idea whose benefits are stolen by one leader looter

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

anonimi:
If we forget that he used pastor Tunde bakare and other cashtivists to sabotage PDP's 2012 deregulation of the fuel sector, should we also forget that he has stolen the $84 billion subsidy savings and is borrowing more that PDP presidents who gave us cheap petrol and better life

What is the usefulness of a good idea whose benefits are stolen by one leader looter

At least your man knew enough to tell them to sit down, and then he should have removed subsidy

GEJ Is not in power, I know, but you are sounding like the APC supporters when they excuse their tinupoo's failures.

Great leaders take decisive decisons (no tinubu is not a great leader either...subsidy removal was forced on him by the fact that the cash was no longer there thanks to over 4 decades of subsides).

ogolemati:
that's good,by 2027 fuel will sell for 100 per litre according to agbero union nairaland branch

2027? The refinery is not even supposed to be running by then according to you and your ilk.

PWANMaxGroup:
Let the product be affordable and accessible to Nigerians

This is the entitlement mentality that bankrupted the economy. A lot of the debt the country presently owes has its foundation in subsidized petrol.

It is not a charity Dangote is running. He will try and maximise profit. That is why competition is necessary to prevent him from becoming a monopoly and charging whatever he wants..

The best the government can do is to allow competition. This will checkmate him. That is how the free market works.

You're free to sell your land at the cheapest prices to people. That can be your choice.

Lekby25:
=
My friend, curruption spoilt the refineries, not cheap price. If the price they are selling cannot cover the cost, can't they say so and adjust the price.

No, it was cheap prices.

Corruption was just a side effect, not the whole thing.

Look at it this way, if petrol was being subsidised, and I was the one in charge of the refinery, what's to stop me from lying about the cost of refining to earn more in subsidy payments which would be skimmed away, especially since subsides were paid from the budget, which was based on projections.

Also, the lying extended to the transport...which is how the thing of paying for subsidised transport of fuel that never was transported came about.

As for the refineries not working...a refinery needs not just to be maintained, but to be upgraded....and guess what, because suhsidy costs be rising, even upon all the lies, so also went up maintenance costs, which is why sometimes TAM was skipped.

Keep in mind that TAM covers maintenance, and like most machiney things, refineries depreciate over time. Because no profit was being made over time, there was no money to pay for upgrades
\
I will repeat it again

THERE WAS NO MONEY TO PAY FOR UPGRADES.

So, even if we had maintained refineries every year...they still would have run down eventually. That's a big reason why they are all scrap.

Finally, refineries run at a profit, as they do in sane countries, cannot be sabotaged by corruption because it would harm their bottom line..here in Nigeria, refineries were not dependent on the profits they make, they were dependent on government subvention...which makes stealing easier.

(See GSM and NITEL. Nitel was dependent on government subvention...corruption results. MTN, AIRTEL AND GLO..and so forth, are dependent on profits made, so they grow and grow and grow, because they are private companies).

All these led to corruption and the fall of the refineries.


Now see Niger, Ghana , Chad, and even South africa...all of them have HAD NO SUBSIDES, and all of them have had refineries that work for over 20 years, or nearly 20 years, because the profit is there to keep them well maintained and upgradable.


You cannot refine fuel at say N700 and sell it at N100, and use subsidy money...which is never stable to begin with because government revneue before stealing is terrible and low...meaning you borrow...to cover the resulting loss.

Meanwhile dangote refinery works because he is making a profit, and not being placed under consumption subsides.

So that means the remaining 1.3 billion liters will be exported to other countries. It's fair enough

CodeTemplarr:
Was surprised when i read somewhere that they are importing to cover shortfall. If one barrel of cride can yield 49 litres of petrol, 650k X 49 is 30+ million litres petrol a month.

Now you see why he’s pushing for the levy on imports—don’t be surprised dangote is yet to meet full local demand yet wants us to ban imports 😁

nairalanda1:
He's making enough profit to make it work.

If he was placed under a subsidy, and forced to sell fuel at N100 to help the poor , as most of you guys were wanting him to do, he won't be reaching this milestone, and the refinery would be on the way to scrap.

Tinubu is not my cup of tea, and he is a hypocrite, see 2011/12, when he opposed the subsidy, but at least he made the sensible decision to remove subsidy. You don't have to support him to realize it was a good idea.

Rephrase the emboldened before I vex for you . Seems you no know me for here

Wetin Nigerians wan hear na say price don reduce and not quantity go increase

anonimi:
Na so o.

If Tinubu can't crash it to N40 that APC promised when PDP's Jonathan was in government, or even the N70 that they said we should be paying in 2015, this N100 is not a bad idea .

Let him just fulfil his promise of crashing petrol price instead of doing the opposite since May 2015.


>>
>>>>

Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/
>>>
>>>

You'd have a better chance of a woman at 90year giving birth to 3 sets of quintuplets with a year, than for the price of petrol to reduce to N40/Litre.

What you have said is no better than what a woman selling tomato would say. That is where the disappointment lies.

A litre of crude oil is at N600/litre. How then will he sell petrol at N40/litre.

The answers to your own questions is right in front of you if you chose to examine things for yourself.

Eriokanmi:
Rephrase the emboldened before I vex for you . Seems you no know me for here

You guys blast tinubu for removing subsidy, which is not one of his bad decisions really

Blast tinubu for his bad decisions of which there are many.not subsidy removal

Lol @ blending components. The same thing they accused the NNPC refineries of doing then (the explanation that "blending" is a global practice by the then NNPC was rejected by DPR & its supporters. Remember also the "Malta Blended Petrol" saga?) is what they're now doing as the refinery currently undergoes maintenance.

Good one. The regulatory support requested should be granted immediately.

grandstar:
You'd have a better chance of a woman at 90year giving birth to 3 sets of quintuplets with a year, than for the price of petrol to reduce to N40/Litre.

What you have said is no better than what a woman selling tomato would say. That is where the disappointment lies.

A litre of crude oil is at N600/litre. How then will he sell petrol at N40/litre.

The answers to your own questions is right in front of you if you chose to examine things for yourself.

What questions have you invented that I did not ask in my comment that you quoted to reply?

Is that how Canadians deflect accountability reminders of their leaders so that Nigerians like you can flee there to work for their country to be even better than ours?

Meanwhile I hope that your Canada relocation business is going well.

TheBedWench:
The one-drop rule is a social and legal principle of racial classification that was historically prominent in the United States in the 20th century. It asserted that any person with even one ancestor of black ancestry ("one drop" of black blood)[1][2] is considered black (Negro or colored in historical terms).

This concept became codified into the law of some states in the early 20th century. It was associated with the principle of "invisible blackness" that developed after the long history of racial interaction in the South, which had included the hardening of slavery as a racial caste and later segregation. It is an example of hypodescent, the automatic assignment of children of a mixed union between different socioeconomic or ethnic groups to the group with the lower status, regardless of proportion of ancestry in different groups.[3]

The one-drop rule is defunct in law in the United States and was never codified into federal law.

nairalanda1:


You guys blast tinubu for removing subsidy, which is not one of his bad decisions really

Blast tinubu for his bad decisions of which there are many.not subsidy removal

Count me out. I had supported it since the Jonathan era and why I doubt you knew me here. Every presidential candidate was planning to do the same, remember?. It was the manner he removed it that I faulted. He should have adopted the Angolan model of gradual subsidy removal. Did you hear them shout for help or protest due to inflation or hunger? That's a decent country with decent leaders who cared. It was buhari who actually removed it from the 2023 budget, tinubu only implemented it. But instead of removing it gradually after providing palliatives, by passing a supplementary budget to the house to prepare for these palliatives, he took it off outrightly, not minding the effect on the populace. .

Tinubu had a blending facility so he gave no fwck . The outright removal was to favour him anyway . Even till now, petrol still comes into Nigeria from the Malta blending facility, which the NNPCL sells. They now watch dangote's price regime as a yardstick. If dangote removes one kobo today and in the morning, NNPCL will remove 1kobo in the evening.
Dangote actually wanted to sell as low as 500 naira before the take off but the same cabals blocked him. The fight was so dirty.

anonimi:
What questions have you invented that I did not ask in my comment that you quoted to reply?

Is that how Canadians deflect accountability reminders of their leaders so that Nigerians like you can flee there to work for their country to be even better than ours?

Meanwhile I hope that your Canada relocation business is going well.

Nigeria isn't Canada.

I don't even understand what you wrote.

I have known about the one-drop rule for years.

A lot of the American slaves that were brought over to Liberia were practically white. However, because of the one-drop, they were slaves as a perent (usually the mother), was a slave.

Good response to NMDPRA.

Really. That will be fine. We are getting there.

ElSudani:
2027? The refinery is not even supposed to be running by then according to you and your ilk.

ok you don't want it to get below 100 . agbero union secretary how far with PH refinery you agbero union said was working more than dangote

Very few know that a couple or a few multinational oil companies maintain offices in the NNPCL HQ building in Abuja.