₦airaland Forum

I bought fuel #1,035 at MRS in Ibadan yesterday

How does this explain actions even works? Fuel we refined here and pump to our darling dangotte refinery to refine n sold to the local Nigeria market is what they are telling me Iran/Israel -US war is making prices in Nigeria go up!
May God help Nigeria!

iran_ isreal war affecting Nigeria




BUT



SAUDI Arabic peace not affecting Nigeria




Nigeria always associated with bad omens

WizardOfNG:
You think you're being cute but intelligent and knowledgeable people will simply find your ignorance amusing and a shame for you.

I dey filling Station now, told them am city boy, they gave me 250 per litre. Join the moving train ooo, this mandate we are standing is very strategic.

You better not listen to any LP miserable miscreant.

Asiwaju till 2069

MrPOTUS:
Yes we know, but country like Nigeria is worse hit, coz the leaders refused to do the necessary things.

No light, petrol and diesel don cost. Just see how price of everything will skyrocket going into this week

The price of PMS in Nigeria like the price of garri is now left to market forces and it is better to learn to live with that. In the long run, it will pay the consumers. It will not end up like the cement sector

lawani:
The price of PMS in Nigeria like the price of garri is now left to market forces and it is better to learn to live with that. In the long run, it will pay the consumers. It will not end up like the cement sector

As long as they've refused to fix the power sector, it'll never pay the consumers. Na inflation upon inflation.

While they rebase it and tell you the inflation is going down on paper

MrPOTUS:
As long as they've refused to fix the power sector, it'll never pay the consumers. Na inflation upon inflation.

While they rebase it and tell you the inflation is going down on paper

I believe pms can sell for lower than 400 naira if Dangote sells the controlling stakes of his refinery to the public. This is because it is sold for as low as that in some middle income countries in Europe and Nigeria is the lowest of low income countries

1110 Enough and Benue

SarcasticWords:
This looks like fake news. They are selling fuel in my area 700 per litre.

This fake news is nothing but propaganda from opposition parties.

Asiwaju 2027 here we come. All nigerians are fully in support of you.

Why are they expressing outrage? I thought some of them support the invasion of Iran by the US and Israel. Everyone must collect las las

The best thing we know how to do: express outrage
All the time

Alsenora:
This has nothing to do with Nigerian politics or the politicians anyone voted into power. It is simply the economic fallout of ongoing war in the Middle East pls.

Why is UAE, Russia, Saudi Arabia and co not crying about the economic fallout like Nigeria, are they not oil producing countries like Nigeria?

simpleseyi:
.

Crying and weeping are your Constitutional rights. We will not take those rights from you. So you can continue to cry, to wail and to weep and roll in the mud, Tinubu will handover to his anointed successor in 2031. So, cry well well if you don’t know that war in the Middle East translates to high price of petroleum products

Can you can go to the terrorist ravaged villages and repeat this same statement to them to prove your support for Tinubu's failure to give good governance to them?

Undisputed147:
What you said doesn't make any sense honestly

If that is how you see the truth, that's your problem, not mine...

jamafa:
You b confirm Olodo

This is not fault of government

Then it is your fault, I think you are referring to yourself with your entire write up...

Una go change diaper tire,
Me go just dey change phone battery to send mes6

occfx:
I dey filling Station now, told them am city boy, they gave me 250 per litre. Join the moving train ooo, this mandate we are standing is very strategic.

You better not listen to any LP miserable miscreant.

Asiwaju till 2069

Whatever. Na you sabi.

Brendaniel:
Then it is your fault, I think you are referring to yourself with your entire write up...

He is right though. Your not bright at all. If humble, ambitious and truly seeking to better yourself then you'd learn from others instead of arguing ignorantly and senselessly.

I don't know how anyone with averagely okay intellect can believe conflict in the middle East, a major hub of petrol and crude supply to the world, is going to spare Nigeria.

Our oil and gas downstream sector is fully deregulated meaning Nigerians with the means can import PMS into Nigeria and Dangote too can sell PMS at prices he desires as a private business with the caveat that full deregulation frees the government of the punitive and financially draining burden of fuel subsidy and will beneficially spark healthy competition that will thrive PMS price down.

Now, with conflict in the middle East, our importers pay more to bring us PMS and they must therefore charge you more.

Dangote too must charge more because he imports crude, as he cannot get the quantity he needs from FG, so he will be affected by global hike in price of crude.

He must also sell PMS , for purely business and profit reasons, around the price his competitors do. They cannot sell at 1050 Naira and you expect Dangote.to sell at 730 Naira.

To then be lashing out at Government and Tinubu, as many have done on this thread, is sad for knowledgeable folks to witness because it is worrying you don't even know why fuel cost has gone up which means you are probably unfairly and ignorantly blaming the government for a myriad of things not Tinubu or the APC's fault as virtually Obidients do.

jamafa:
You b confirm Olodo

This is not fault of government

Bros, I tire for some people. Imagine saying the ignorant drivel below with his full chest :

And if the price of petrol goes up because of that, isn't Nigeria supposed to be making more money to cushion the effect on the citizens?

Which adult should not understand that removal of fuel subsidy and full deregulation of the oil and gas downstream sector of Nigeria means Government hads are fully off any anything to do with the downstream sector?

"Cushion the effect" how exactly? Obidients are just something else. Yet they believe they know it all.

D POPULATION OF UR COUNTRY IS ALMOST 300M , MORE DAN D COMBINED POPULATION OF UAE+ DUBAI + QUATAR,+ SAUDI ARABIA, + OMAN,+ LIBYA + ANGOLA ETC YET WE PRODUCE JUST 1.4MBPD AS AGAINST SAUDI'S 10MBPD,

smallsmall:
How is it that every failure of this Government, is blamed on LP or Peter Obi or Obidients or even PDP?
When is this Government and its paid Influencers/Sycophants going to take Responsibility for their failures?
When will people like you, break the YOKE on you and retrieve your sense back from those who have stolen it?

How come other Countries like Dubai, UAE, Saudi Arabia not increased Price of PMS INTERNALLY but Nigeria is already approaching 30% Increase or is it not the same Crude Oil that we produce, that they produce?

It is a free market so expect all these price gymnastics whenever there is an excuse for it but so far the importation of pms is not banned then what happened in the cement sector will never happen in the oil sector and the price of pms will soon drop

brain54:
I don't even know the benefit of the refinery in Nigeria. !

What is the benefit of the refineries your great giant of Africa has?

Since you were a child till now, you have been hearing stories about Port-Harcourt and Kaduna refineries and till now they kept dormant while heavy salaries a being paid to GHOST WORKERS there in billions. Ten years from now you will still be blaming dangote while the refineries still remain fancy objects of corruption.

Leave dangote and enjoy the productivity and pro active nature of your country.

WizardOfNG:
He is right though. Your not bright at all. If humble, ambitious and truly seeking to better yourself then you'd learn from others instead of arguing ignorantly and senselessly.

I don't know how anyone with averagely okay intellect can believe conflict in the middle East, a major hub of petrol and crude supply to the world, is going to spare Nigeria.

Our oil and gas downstream sector is fully deregulated meaning Nigerians with the means can import PMS into Nigeria and Dangote too can sell PMS at prices he desires as a private business with the caveat that full deregulation frees the government of the punitive and financially draining burden of fuel subsidy and will beneficially spark healthy competition that will thrive PMS price down.

Now, with conflict in the middle East, our importers pay more to bring us PMS and they must therefore charge you more.

Dangote too must charge more because he imports crude, as he cannot get the quantity he needs from FG, so he will be affected by global hike in price of crude.

He must also sell PMS , for purely business and profit reasons, around the price his competitors do. They cannot sell at 1050 Naira and you expect Dangote.to sell at 730 Naira.

To then be lashing out at Government and Tinubu, as many have done on this thread, is sad for knowledgeable folks to witness because it is worrying you don't even know why fuel cost has gone up which means you are probably unfairly and ignorantly blaming the government for a myriad of things not Tinubu or the APC's fault as virtually Obidients do.

So what exactly were you people blaming GEJ for?

And why were you people with Tinubu blaming and protesting against him for fuel price hike When global prices went up?

We have crude
We have refinery

So what is the issue?

yinkus6750:
The recent increase is base on high cost of crude in the international market due to the ongoing war in Iran, that is seriously affecting the Middle East.
It obviously will affect Nigeria cos price of crude to Dangote refinery must be in tune with international market price.
Same affects cost of importation.
Still likely to go higher in the days ahead.

Angelfrost:
Prices of Petroleum products are flying up everywhere around the world...!

Blame Trump and the sadistic Iranian leaders.

It's just painful that Nigerians will suffer even more... We never catch a break in this 3rd world nation.

in all of these, where's the gas powered buses Tinubu government promised Nigerians.

I thought their usual promised to do this and that were meant to Cushion the effect of things like these.

I am just concerned for the average man like myself. Hunger version 5.0 to begin.

brain54:
@yinkus6750...


Dangote buys majority of his crude locally.


I don't even know the benefit of the refinery in Nigeria.

Even if they would be an increase in price it's still too early!

Locally? Like from Nigeria locally or from Equatorial Guinea locally?

slimthugchimee2:
Omoh
This is the highest level of ignorance I have seen

Like you literally type nonsense with full confidence

There’s a oil price mark followed by every country which you can easily google

It doesn’t matter who you are selling it to, you sell at that price

Which at the moment is 87dollars per barrel

The only thing that doesn’t have a general price is petroleum which can vary from country to country

So unless your country has a subsidy on your petrol price, it’ll 100% increase

Price of petrol around the world has increased
Not just Nigeria
You can easily google this information

Every Country has SUBSIDY on oen thing or another, especially if it a producer of such Prtoduct/Resources.
That is nothing new and you have said nothing, by stating that.

But even common sense should tell you that A Producer whose Market (Consumers) are also within its location, will not incure the same Cost (Transportation and other logistics), compared with a Non-Producer (Buyer) who has to go to a Producer location, buy the Product and then Ship it to its own location, before Consumption, since the latter has to factor-in all the addititonal Costs of bringing the Product to where it is to be consumed.
So, how can they or should they be selling at the same Price?
I know that people like on Nairaland, are probably just finishing School Cert and some who have finished Education, learned nothing in school otherwise you wont be saying the trash you just posted up there.

Nigeria produces Crude Oil, Taiwan does not,
1) Nigeria pipes its Crude Oil straight from its Oil fields in Nigeria, to Dangote Refinery in Nigeria. No Ship needed, No cost of Maritime Transportation or Insurance, No Sailor's Cost. etc

2) Taiwan does not produce Crude oil but have Refineries.
It has to sail Ships to Nigeria (with all the Cost involved), buy Nigeria's Crude Oil (at International Price), ship it back to taiwan's Refineries (with all the Shipping and Logistic Cost again!)

Now, tell me, how can the Petrol in Scenario 1 above, be PRODUCED at the same Price with Scenario 2 or how can someone in scenario 1 above and Scenario 2 above, SELL the Petrol at the same Price, if not that the person/country in scenario 1 wants to make excess profit?

How dumb can anyone be, not to understand this simple logic?
Honestly, l get tired of trying to educate people on something Commonsense has already explained

smallsmall:
Every Country has SUBSIDY on oen thing or another, especially if it a producer of such Prtoduct/Resources.
That is nothing new and you have said nothing, by stating that.

But even common sense should tell you that A Producer whose Market (Consumers) are also within its location, will not incure the same Cost (Transportation and other logistics), compared with a Non-Producer (Buyer) who has to go to a Producer location, buy the Product and then Ship it to its own location, before Consumption, since the latter has to factor-in all the addititonal Costs of bringing the Product to where it is to be consumed.
So, how can they or should they be selling at the same Price?
I know that people like on Nairaland, are probably just finishing School Cert and some who have finished Education, learned nothing in school otherwise you wont be saying the trash you just posted up there.

Nigeria produces Crude Oil, Taiwan does not,
1) Nigeria pipes its Crude Oil straight from its Oil fields in Nigeria, to Dangote Refinery in Nigeria. No Ship needed, No cost of Maritime Transportation or Insurance, No Sailor's Cost. etc

2) Taiwan does not produce Crude oil but have Refineries.
It has to sail Ships to Nigeria (with all the Cost involved), buy Nigeria's Crude Oil (at International Price), ship it back to taiwan's Refineries (with all the Shipping and Logistic Cost again!)

Now, tell me, how can the Petrol in Scenario 1 above, be PRODUCED at the same Price with Scenario 2 or how can someone in scenario 1 above and Scenario 2 above, SELL the Petrol at the same Price, if not that the person/country in scenario 1 wants to make excess profit?

How dumb can anyone be, not to understandthis simple logic?
Honestly, l get tired of trying to educate people on something Commonsense has already explained

Omoh are you guys slow or something?
In what part of my comment did I say logistics is the reason for the increase in price of petroleum?



I precisely stated how OIL PRICE is the reason for the increase in petroleum cost
Oil is an international product and has an international price benchmark, if you like sell it to the refinery in your backyard, you MUST sell it at the international benchmark price as a member of OPEC.

Ahh, Omoh you literally took what I said and typed complete different rubbish trying to act smart.
Just open mouth and be telling me every country has subsidy on something, and so? Where does that even relate to my comment

Dont be an ultracrepiderian and try to read atleast

Oh and by the way petroleum is subsidized in taiwan