₦airaland Forum

By processing our crude oil locally in Nigeria to PMS for home market and for export, naira will appreciate astronomically.

Tinubu should work with Dangote to ensure PMS price stay as low as possible by giving him tax concessions and other incentives...so the price is as low as possible for Nigerians.

When we stop importing PMS, and refining most of our crude and exporting, we are gaining in three ways, we are getting more in the value chain, getting more value from our crude resources and strengthening our naira, because of more favorable balance of payments, this is our way to true wealth, by processing our most valuable resources. I see naira gaining value to N700 to a dollar, before the end of the year...if I were you I would change all my dollars to naira.

I expect Tinubu to take this seriously, so our currency gets value, when our currency value increase, we will be able to afford essential military equipment and services easily.

A valuable naira is your way to wealth... imagine what N1million naira will do if naira gains value to N200/dollar... Mercedes, brand new cars will be affordable to all.

Tax concessions and incentives = subsidy.

Forget it, it's not happening.

Under Mr Tinubu's government, there will always be opportunity for anyone that wants to take the risk of importing to do so.

The market, and not the government, will determine when and if import 9f pms stops.

That's the right approach.

If pms is selling in some middle income countries at around 400 then it can sell in a low income country in Nigeria for less but it can't happen when a 650,000 barrel per day refinery is owned by one man who is using huge debts at high interests to own it. I have always said Dangote should sell majority of the refinery to investors and like Elon Musk be a highly paid CEO.

If you say oil imports should be banned, then you want the cement sector to happen to the oil sector. We are not here to help Dangote pay debts. The most the government ought to do is to tariff importers not ban imports

lawani:
If pms is selling in some middle income countries at around 400 then it can sell in a low income country in Nigeria for less but it can't happen when a 650,000 barrel per day refinery is owned by one man who is using huge debts at high interests to own it. I have always said Dangote should sell majority of the refinery to investors and like Elon Musk be a highly paid CEO.

If you say oil imports should be banned, then you want the cement sector to happen to the oil sector. We are not here to help Dangote pay debts. The most the government ought to do is to tariff importers not ban imports

You sound half baked, well, am speaking from the point of currency valuability, every Nigerian resident in Nigeria benefits when our currency (naira) appreciates...it makes no sense to import a product you have advantage on, it makes more sense to process here, benefit from the employments, local contracts and boosting of local productivity for export, to boost our balance of trade advantage. This is the crux, not talking politics am talking economics and numbers. In a free market economy the big can buy out the small. You Nigerians are always sentimental and myopic, this is your problem. We are talking of boosting naira value and creating more value for the economy, you are talking Dangote's debt, most business have debts even nations have debt.

dederocs:
You sound half baked, well, am speaking from the point of currency valuability, every Nigerian resident win our currency appreciates...it makes no sense to import a product you have advantage on, it makes more sense to process here, benefit from the employments, local contracts and boosting of local productivity for export, to boost our balance of trade advantage. This is the crux, not talking politics am talking economics and numbers. In a free market economy the big can buy out the small.

You don't sound half baked but are actually half baked. Nigerians are not there to help Dangote pay his debts. He should be able to compete given that he got dollars at half rate and the refineries he is competing with are paying multiple times his wages. If he can't compete that will be because of his debts, he should sell the debts, sell the controlling stake in the refinery so that Nigerians will enjoy lower pms prices. I don't expect you to understand though

lawani:
You don't sound half baked but are actually half baked. Nigerians are not there to help Dangote pay his debts. He should be able to compete given that he got dollars at half rate and the refineries he is competing with are paying multiple times his wages. If he can't compete that will be because of his debts, he should sell the debts, sell the controlling stake in the refinery so that Nigerians will enjoy lower pms prices. I don't expect you to understand though

You are just sentimental, I don't engage sentimental people, their emotions becloud their ability to think critically.