₦airaland Forum

Sirchiboy:
I need one chairman.
Abeg connect me

you dey believe that one? Shey him sound like who don see 10k dollars all him life?

Moroccoguy:
USA Iran crisis and it implications.

Lie! Are we still importing, or refining the crude oil right here in Nigeria?

Layi4real:
illiteracy is a disease. Go school u won't go school.

Answer the question, and stop beating about the bush!

geoworldedu:
Can you please explain how the war in Iran is affecting our oil in Nigeria? Do you buy oil from them?

The answer is ''yes' and 'no'.
Yes, because Dangote also buys crude from wherever he can get it (which is normal) so he is subject to international price pressures.

No, because ordinarily higher prices also means that government's revenues as a producing country are bound to increase over this period, so a sort of windfall is realizable to perhaps subsidize local production.

However in our case, we are weighed down immensely with debt, we operate a budget far, far, far beyond our means and we are poor managers of our finances so I guess we are as exposed as any country out there to price shocks.

*Data by MEMAN indicated that Dangote’s petrol gantry price was N874 per litre as of Monday, while the landing cost of imported petrol was N809.37 per litre, showing a difference of about N64 between the two sources.

MEMAN also reported that Dangote’s diesel price was N1,169.42, while imported diesel was N1,125.70 per litre.*


I believe most people did not read the article even with the war imported fuel is around ₦809 while Dangote's is ₦994.

Can you try to digest that.
FX is down
Imported fuel is cheaper
Year Dangote increased with over ₦200+ within 2 weeks

chidi2003:
Lie! Are we still importing, or refining the crude oil right here in Nigeria?

As of the last time I checked Dangote is not getting g all his crude from Nigeria. And even if he is I don't think the Federal government will sell at a discount to him.

A government looking everywhere for money will sell it's resources to the highest bidder. Have you not seen our budget deficit.

A government seeking to take more and more from the citizens is not going to subsidize it's offerings.

Layi4real:
illiteracy is a disease. Go school u won't go school.

Since I did not go to school, let Dangote move it to 2000, even 4k will do

I hope opposition won't blame this on Tinubu (I'm not APC fyi), but this is when petrol subsidy is needed

i bought 1250 last nite

Cupidkc:
I actually bought 1030 yesterday night.

chidi2003:
Lie! Are we still importing, or refining the crude oil right here in Nigeria?

What is the current price of crude set by opec.

adenigga:
Gulf war of course!



When we are talking of multiplier effects of actions, this is the reality.

dangota dat is looking for how to pump price b4.. .

Reference:
The answer is ''yes' and 'no'.
Yes, because Dangote also buys crude from wherever he can get it (which is normal) so he is subject to international price pressures.

No, because ordinarily higher prices also means that government's revenues as a producing country are bound to increase over this period, so a sort of windfall is realizable to perhaps subsidize local production.

However in our case, we are weighed down immensely with debt, we operate a budget far, far, far beyond our means and we are poor managers of our finances so I guess we are as exposed as any country out there to price shocks.

Thank you.

IPDGP:
Na u get cursed, u no go read news finish dey look for comment to comment on

""latest price adjustment followed recent shifts in global oil market fundamentals.""
So na nigeria government dey in charge of global oil market

sometimes I doubt una level of education, crude oil that is produce in Nigeria, refined in Nigeria by dangote and you want me to believe that global market affects it! Oga use your phone Google price of fuel in Venezuela, Libya, Qatar, equatorial guinea etc currently

Tenrack:
Genius Literate explain! The guy was even polite enough to say can you please explain. Why are y'all so uncultured and unruly on here?

Explain how the war over there in Iran is affecting our pump price. Let's learn genius.

don't mind the fools my brother

geoworldedu:
Can you please explain how the war in Iran is affecting our oil in Nigeria? Do you buy oil from them?

Since you can read and write, I assume that you are literate/ educated. Iran is one of the major oil producing countries of the world. What happens when one of the major suppliers of crude oil is taken out of production because of war?

oshkoach:
Time shall come, we will all be served breakfast.

If we had a serious government, then we should not be impacted by the American needless war with Iran.

Our government abdicated it responsibility and left our refinery business to a private man. This is the result. “Profiteering”

For those of you praising Dangote, keep praising him until his net-worth goes up again while you remain poorer and unable to feed.

Uncle let us here word, if you dont know mute and let people with knowledge talk

What is dangote fault in ALL of this, over 60% crude he refines is imported becos your govt cant meet his demand

Why cant your govt do the right thing for once, We are oil producing nation for God sake ..

why cant we scale up crude production per day to meet local demand and have our own refinery

Leave Dangote out it, he was the richiest even before he thought of Refinery business

Layi4real:
illiteracy is a disease. Go school u won't go school.

Even from these two phrases you typed, it's glaring who the illiterate is!

The last administration and the present one had a simple duty:
Ensure the transparency of NNPC and fix our refineries or better still build a new one!
None unfortunately had been done which is an indictment on a party that claimed in 2015 that they were bringing change.
A newly built or fixed refineries would have ensured Nigerians didn't feel the consequential burden of increased crude oil price due to the war at Iran.
But as usual,we have back to back administrations that have abandoned Nigerians to their fate.
This increase will most likely inflate the prices of goods and services as Transport cost will increase!
All because we have an insensitive administration that care less for the people and more for politics!
With all that is happening,what will Tinubu and his incompetent gang of thieves use in campaigning because the overflogged slogan of blaming PDP will no longer work.

I hope those of you supporting America's war on Iran can see the outcome. When we were criticizing Trump's decision to start a needless war, you guys were busy typing nonsense here. Just so you know, ships can no longer move oil through the strait of hormuz where about 20% of world's oil shipment passes through. Insurance companies have also increased the cost of insuring those ships which in turn, has increased the cost of shipping oil. Several refineries in the middle east has shut down due to the fact that they have been bombed. As a matter of fact, the largest refinery in Saudi Arabia has shutdown coz it was bombed during this conflict. Oil rigs and oil fields have also been bombed. All of these combined, is the reason for the increase in oil prices globally. Pump price of petroleum in Europe and America has also increased. The only countries where there might be little or no increment in prices of oil at the gas stations, are countries that are subsidizing the cost of fuel for their citizens. In all of these, there would be another increment next week too. Just yesterday alone, Brent crude opened trading at about $84 dollars or so and closed trading at about $93 dollars even though it got to an all time high of the day of $94. At that rate, market forecast predicts we might hit $140 in a week or two. So expect pump price to get to 1,600 by next week or thereabouts.

reddingtonblack:
Uncle let us here word, if you dont know mute and let people with knowledge talk

What is dangote fault in ALL of this, over 60% crude he refines is imported becos your govt cant meet his demand

Why cant your govt do the right thing for once, We are oil producing nation for God sake ..

why cant we scale up crude production per day to meet local demand and have our own refinery

Leave Dangote out it, he was the richiest even before he thought of Refinery business

Read my comment again. Am not blaming Dangote, I only alluded to the fact that he’s a business man. The blame is on the administration.

Frankaka8:
Are you cursed? Suffer no dey tire you? You dey find excuse for this? Why your dey defend Nigeria Govt like TARIBO WEST?

Dont argue ignorantly pls. He is saying the correct fact and reality on ground

There is no implications just that we are greedy.... The crude oil is gotten IJ Nigeria. Transported in Nigeria and refined in Nigeria ... Wetin concern you with Iran crisis ?

Well, when we have only one company refining oil in Nigeria... He can fix prices as he want ...leave Iran alone

Moroccoguy:
USA Iran crisis and it implications.

Sandjoe:
Since you can read and write, I assume that you are literate/ educated. Iran is one of the major oil producing countries of the world. What happens when one of the major suppliers of crude oil is taken out of production because of war?

What will happen is that, other suppliers will capitalize on that to supply theirs and gain very well. For example, Nigeria is a supplier of oil. So this is the time we should market ourselves vehemently and get Iran customers to our side. I'm open to more enlightenment though

Dangote has seen this as an opportunity to increase the price of petrol for Nigerians to spite those marketers that are not buying from him. He knows that they would not be able to get fuel easily from the international market and that gives him an advantage as a sole refinery in Nigeria.

But in everything we do, we should learn to consider the masses bearing the ripple effect of all these.

they just dey run the country as they like today 700 tomorrow 1000
no light
no fuel
no food
to serve Nigeria with all my strength
abeg no be person wey chop dey get energy to serve with all his strength
peace & unity indeed

But still they said ,the imported fuel is even cheaper than d refinery price..so dangote is not been fair with Nigerians

Moroccoguy:
USA Iran crisis and it implications.

E lo fokan bale...A ma gbe wale

Okechinwadike:
don't mind the fools my brother

I swear he thinks he's smart. I can bet my balls if he begins to explain now he wouldn't still make any sense. Bunch of ITKs

Layi4real:
illiteracy is a disease. Go school u won't go school.

One thing I don't like about Nigerians is tne idea of o dumting someone that asked simple question ..
Why not simply answer his question respectfully ...Tell him how the fight in Iran is agfecting our oil business in Nigeria...educate him you way go school