₦airaland Forum

Switruth:
You have captured it all. Sadly we all thinks it's Dangote who is crashing it...Let them clash at our advantage...

Sadly how common sense has turned rocket science. Price of things are crashing, naira appreciating against the dollar and some are worshipping some imaginary competition theory while been blinded by there emotions to see dangote refinery earning massive forex from exportation with Nigerian been at trade surplus i.e more dollars flow into Nigeria than out of Nigeria.

SolomonGrandi:
Good but after January what next?

All of this isn’t adding up

What's happening in January? Do you forget that December used to be about fuel scarcity and hikes?

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

LOL. Standing on several fences is mediocrity

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

Last time I checked, anyone who meets the requirements can own a refinery. Tell those kleptos to build their own refineries too and crash the price too, so as to spoil business for Dangote

Gboss247:
Some people are so engrossed in imaginary competition and monopoly theories while failing to see Dangote refinery moving Nigerian international from trade deficit to trade surplus which more dollars been supplied against the naira, making naira to appreciate leading to price decrement. This is basic economics but most Nigerians are interested in emotional fictional theories.

Dangote still imports crude oil. This implies that foreign exchange still escapes Nigeria through crude oil imports from Dangote while he gets foreign exchange from oil marketers who source it locally. If dollars come in from abroad, this would have amounted to contributing to trade surplus, not dollars already within sourced to buy products from him.

Fuel that l bought at CONOIL at aguda area of surulere for N895 at 10pm yesterday night. Chief Michael Adenuga should do better o.

Small petrol stations are now leasing their outlets to MRS. This price war is good for Nigerians.💯

Dangote will roll out cheap cooking gas from next year. BUA refinery is also coming up. May God bless these men with good health and long life.

So the govt should not allow Dangoteto teduce his pricee or wohat exactly is your comnt about.

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

Not until they start selling for PDP price.

They should reduce it to #150 per litre before I will applaud them

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

Again, the market is fully deregulated. Prices are now controlled by market forces. Dangote isn’t the only one with a license to build and run a refinery. It’ll get more interesting when Abdulsamad Rabiu’s BUA refineries start operations. The war go brutal pass this one. NNPCL had better brace up to survive in the downstream sector by empowering the modular refineries. They can’t survive on importation. IPMAN people need to start looking for other business streams to diversify their risk.

Laugh wan finish me abeg

Make dem extend the war to LPG , cooking gas abeg

Switruth:
Lol. This price go later come to 100 ... Na God dey punish these marketers so.

No

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

There's no script anywhere. These are extremely wicked cartels hellbent on maintaining status quo when they can easily band together, build their own mega refinery and compete. The bastard money they're making from importing fuel and the humongous power they have wielded on hapless Nigerians must be whittled down. They have spent decades ripping us off. It's time to pay.

It belongs to otedola a very close friend to dangote

PulaPower:
I don’t know who owns this mrs filling station but the owners deserves a national honor..

They’ve always aligned with the masses compare to majority of these greedy filling stations..

Obakoolex:
Even Mrs at challenge Ibadan, I bought 820 yesterday

MRS in Lagos are selling for 739

It is healthy for the petroleum industry.

Greed is the game changer here.

These guys don't think ahead. They are not ready to sleep and plan like say March 2026. Just daily reactions.

Dangote is doing okay for us as we are grateful we have no December queues. But it may lead to a monopoly one day. That's inevitable!!

Instead of these fools called marketers to plan and cut losses and begin to redirect money to retake control or even compete and make Dangote also regard them, they are on reaction mode. Clowns thinking they're businessmen and women. No acumen, intelligence or foresight.

Dangote has studied them and hacked the game and now they're all in a state of unrest till tomorrow.

I hope someone comes and also rivals Dangote because he has a game plan and these fuulish marketers should not be worthy of holding the nation to ransom with their myopic minds if this is how they do when competition finally arrives.

BATified2023:
they cheated u

I bought it 790 this morning in Ibadan

it's 800 in ilorin

nairalanda1:
If Tinubu and Buhari had taken time to explain to their supporters in 2012 why subsidy needed to go, by now, we won't be complaining about dangote monopoly, and importers cheating us.

Instead they joined and encouraged the Ojota crowd in the name of politics...instead of looking for the good of the nation.

SO, yes, tinubu deserves some of the blame too. GEJ too should have removed subsidy and dared them, but the oppositon leaders should have also tried to tell the truth. Not everything na politics. Even me wey oppose GEJ and tinubu and buhari, and even obasanjo and yaradua...some of their decisions, I took time to look at why.

.
It goes beyond subsidy, my brother. The greedy and wicked tendencies have been there all along. We've been known to defraud ourselves from time immemorial.

zionstaar75:
it's 800 in ilorin

it's like it's getting lesser in Ibadan.

I just saw another 788 here

This price war is good for the Nigerian masses but it is putting too much power in the hands of Dangote.
As it stands, Dangote will succeed to put those importers out of the market because they won't be able to keep up with such heavy losses over a long period of time. But when he (Dangote) finally succeeds, he will start rolling back on his previous looses by fixing prices as he pleases.

I understand licences have been issued to various companies to build their own refineries. What those importers should do is to come together to form a very strong partnership and build their own refinery. Or better still, pick one of the moribund refineries Nigeria claims to have and use it for business. But whether they are smart enough to do that is left for Nigerians to guess.

I hear BUA is building his own refinery (I don't know where it is located), and I hear it is 80% complete. When completed, this should give Dangote a good run for his money, and Nigerians will be the better of it. These are the strategies that can stop Dangote from monopolizing the petroleum downstream sector.

saintopus:
When will cooking gas war begin. This type of war will benefit many Nigerians

I don't think so. It is a monopolistic trait in my opinion where competition is strangled to death and the winner then exploits the masses.

oz4real83:
Dangote still imports crude oil. This implies that foreign exchange still escapes Nigeria through crude oil imports from Dangote while he gets foreign exchange from oil marketers who source it locally. If dollars come in from abroad, this would have amounted to contributing to trade surplus, not dollars already within sourced to buy products from him.

Nigeria having trade surplus means means the value of export is greater than the value of import i.e more dollars enters Nigeria than leaving Nigeria. This is basic reason behind Nigeria's recent surge in external forex reserves.
Yes, dangote refinery imports crude but also export it which is way higher than the cost of importing it.

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

Instead of chasing them, more competitors should come into the market. That will further drive the price and efficiency in the system.

iwaeda:
Let them try to reduce to N500.

You wan check something, abi?

Anyways, it’s already going there. I bought at N770 at NIPCO, Owode-Ede (Osogbo Road), a few hours ago. A MRS closer to it was still selling at N800. Matrix was selling at N790, I guess ( didn’t see their board well).

atobs4real:
B4 u know it, Dangote will monopolize the market

That has been his desire.

blesdman:
Nigerian economics is mad. Flour price has dropped. Bread price has not dropped. Same with transport fares even with the price wars

Modern bakeries, with less labour-intensive works, auto or semi-automation, and scalable, have been dropping prices on breads. A supermarket called Asake, in Ede has been selling N1500 bread now at N1,300. Once other raw and packing materials start to come down, owners will see how they can reduce overhead and we will start seeing price drop.

Those old-school bakeries have not reduced prices and I am sure they will loose out, if they are not careful. The earlier they adjust, the better. Their bread is kukuma bad before.

These people have been cashing in, huge profits margins they were making.

CaptainFM1:
Instead of chasing them, more competitors should come into the market. That will further drive the price and efficiency in the system.

Why do most Nigerians prefer illusions over reality. An industry only has a lot of players sign of infancy, stagnation and inefficiency. Once these factors are addressed, economic growth sets in with acquisition and merger reducing the number of players while increasing efficiency, quality, quantity etc

LibertyRep:
This script is too obvious.

Chase the competitors out with the price war, take control of the entire structure and thereafter become a monopolistic thing god.

The government and the relevant regulatory agencies should do their duties and enforce fair play.

In all, may Nigerians be favoured.

Should he allow matketers to bring imported pms dump in the country at high price?

xynerise:
While petrol price is decreasing, transport fare is increasing

Economics doesn't work in Nigeria

You would still turn round to blame Tinubu.

everythingtall3:
It belongs to otedola a very close friend to dangote

No, Dantata

nairalanda1:
If we had chased out subsidy in 1993, or even in 2012, and let the market set prices, not government, it won't have just been dangote announcing construction of refinery in 2013, there would have been three or four others doing same.

There is a cold reason why for decades they have been telling Nigerians to remove subsidy....it was to provide a level playing field for people who wanted to build refineries...and attract investment to do so. Subsidy meant that the only person able to attract investment was Dangote, and that was because the investors figured out that if subsidy induced losses impacted the refinery in the future, AMCON will just take over Dangote's other businesses and use the cash to pay them off.

Not everything na oppression. Nigerians should have kept quiet in 2012. Instead, everyone shouted that GEJ Na oppressor (me I was not his supporter and never have been, but there is a time to put aside opposition, and look at why some decisions need to be taken). See what we have done to ourselves.

Anyway, BUA dey, there are also 4 extant working private refineries.

Oga there's no serious country where energy is not subsidized directly or indirectly. Subsidy is never Nigeria's problem but corruption is. There is no logic that will make good the removal of subsidy in Nigeria. Government subsidy does not stop or affect any serious investor from building refineries