₦airaland Forum

chopnaira:
I am in canada. We are the 4th largest producer of crude oil. We have 16 refineries, yet Oil prices have gone up at the pump.

Most of Canada’s crude is heavy crude and almost half of the 16 refineries can’t refine heavy crude, so it needs to be exported to the U.S. for refining.

Most of Nigeria’s crude is light crude which can be fully refined locally.

That’s the difference.

Lithiumite:
When the headwinds settle and prices start to drop,hope you will also remember to laugh.......if it was in the past we would have been grappling with fuel scarcity by now and even buy at a higher price than what is currently available......removing subsidy and full market deregulation was the best policy by this govt......PBAT till 31.

With a cluelezz govt who stands as a synonym of incompetence ... for how long will the price drop

You know all this shalaye the govt is trying to do wont have being necessary if they admit forces of market are in control when price comes down ... Dangote slashed price APC were busy stealing the glory ... Everything is coming down cos Tinubu reform is yielding, even Tinubu claimed we are out of the dark tunnel, with the looming impact of PMS hike in price are we really out of the tunnel

You if Tinubu had push for independent local production and refining of crude in Nigeria we wont be the grass of battlefield, instead they fly importation as competition very unreasonable set of humans

chopnaira:
Its just common sense

Oil is going up everywhere in the world including countries that have the biggest oil reserves and multiple refineries e.g. Canada and US.

Geo-Politics 101 of the useless war going on in Iran. Laws of demand and supply.

Thank God for you. They want Dangote to be father Christmas

givedemwotowoto:
Most of Canada’s crude is heavy crude and almost half of the 16 refineries can’t refine heavy crude, so it needs to be exported to the U.S. for refining.

Most of Nigeria’s crude is light crude which can be fully refined locally.

That’s the difference.

Prices are always going to fluctuate

Lithiumite:
When the headwinds settle and prices start to drop,hope you will also remember to laugh.......if it was in the past we would have been grappling with fuel scarcity by now and even buy at a higher price than what is currently available......removing subsidy and full market deregulation was the best policy by this govt......PBAT till 31.

How much have they spent to keep fuel price at N900 below. You know subsidy is still being paid ask NNPCL.

Lithiumite:
You should have asked govt to give you the fuel for free.....like say nah only Nigeria get oil......oil prices just started climbing last week and you expect tinubu to start sharing money on the streets today.......your idea of basic economics is pedestrian and utterly ignorant.

^^^
You could have chosen to educate rather than berate.

His first question is a valid one that people without an economics background often ask: if Nigeria has crude oil, then why do Nigerians have to pay the so called international price when something big happens in a far away land?

Nigeria isn't at war with the USA, Israel or Iran. So why do Nigerians have to deal with higher prices because of a foreign war - when the same oil exists under Nigerian soil?

Does this same thing happen to cocoa, palm oil, coal, rubber etc.? Or its just crude oil?

erad:
Anyone with common sense knows it's expected...

You're happy with USA invading Iran forgeting it will affect your oil prices. Now everyone is feeling it.

Abeg Nigerians.Make endure the hardship and the pains that will bring about the gain in US ISREAL cooperation finishing Iran once and for all. The time is now or never

reddingtonblack:
With a cluelezz govt who stands as a synonym of incompetence ... for how long will the price drop

You know all this shalaye the govt is trying to do wont have being necessary if they admit forces of market are in control when price comes down ... Dangote slashed price APC were busy stealing the glory ... Everything is coming down cos Tinubu reform is yielding, even Tinubu claimed we are out of the dark tunnel, with the looming impact of PMS hike in price are we really out of the tunnel

You if Tinubu had push for independent local production and refining of crude in Nigeria we wont be the grass of battlefield, instead they fly importation as competition very unreasonable set of humans

What are you yapping on about......subsidy removal was what made dangote refinery to even cone into existence in the first place,there was no way he would have been able to operate if givt continued fixing prices......is it only in nigeria pump prices have gone up?

Is it to you govt is paying the subsidy? You just grab your phone and start typing ilogical inferences just to show the world how ignorant you are.

Lithiumite:
You should have asked govt to give you the fuel for free.....like say nah only Nigeria get oil......oil prices just started climbing last week and you expect tinubu to start sharing money on the streets today.......your idea of basic economics is pedestrian and utterly ignorant.

The table lies in good leadership to guide against external shocks like this. Hiw can the price of garri in the market affect a farmer that grows his own casava?

iwaeda:
How much have they spent to keep fuel price at N900 below. You know subsidy is still being paid ask NNPCL.

Is it to you givt u paying the subsidy,you obidients keep regurgitating falsehoods just to keep deceiving yourself gullible ilk.....

Fujiyama:
^^^
You could have chosen to educate rather than berate.

His first question is a valid one that people without an economics background often ask: if Nigeria has crude oil, then why do Nigerians have to pay the so called international price when something big happens in a far away land?

Nigeria isn't at war with the USA, Israel or Iran. So why do Nigerians have to deal with higher prices because of a foreign war - when the same oil exists under Nigerian soil?

Does this same thing happen to cocoa, palm oil, coal, rubber etc.? Or its just crude oil?

The world is a global village, what happens in the board rooms of wall street can affect people in agulu......oil prices the world over are priced in global markets,dangote buys his crude at world price

Editorialtimes:
NMDPRA Says Fuel Price Fluctuations Reflect Market Dynamics in Nigeria’s Deregulated Market

By Queen Madaki | The Business Bureau



Source: The Business Bureau

Like FG like Daniel bwala. Always defending rubbish .

chopnaira:
Is Dangote the one increasing the oil prices in US, Canada, Australia, and Europe too?

How many barrels has he imported from those places since the crises?
Has engine oil, greeze and plastics increased in price yet? Are they not bye products of same oil? The increase are just because demand has increased. If other countries especially the middle east are in the market with there products, will this increase happen. It's all part of taking advantage of an urgly situation.

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!

Lithiumite:
The world is a global village, what happens in the board rooms of wall street can affect people in agulu......oil prices the world over are priced in global markets,dangote buys his crude at world price

^^^
Then perhaps that whole 'global village' concept needs more scrutiny.

Many ordinary people do not understand how a war starts in the middle East and affects local petroleum product prices here in Nigeria - even though Nigeria is not one of the combatants...and she has her own crude oil under her soil.

These ordinary people believe that for a country like Nigeria that's perpetually struggling with rising prices - the last thing Nigeria needs is more pressure on local prices.

When something bad happens in Ghana and the price of her yam exports goes up, does the price of yams go up in Nigeria too (because of 'international prices'?)

People genuinely want to know.

valentineuwakwe:
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 war affecting Nigeria



but



SAUDI Arabia peace not affecting Nigeria




Rubbish leaders.

iwaeda:
We warned you. Let me just laugh ahead.

Warned who? Olodo.
Nigeria is a member of OPEC and can't sell below the global price
More money to the Nigerian states. Ask your governor, what he does with the money from the FG.

Facts over emotion.

Chukwudi4naija:
The table lies in good leadership to guide against external shocks like this. Hiw can the price of garri in the market affect a farmer that grows his own casava?

Nigeria would sell to Dangote at the global prevailing price
No we sentiment about this

Editorialtimes:
NMDPRA Says Fuel Price Fluctuations Reflect Market Dynamics in Nigeria’s Deregulated Market

By Queen Madaki | The Business Bureau



Source: The Business Bureau

When you say market forces, also know that greed is inclusive

chopnaira:
Its just common sense

Oil is going up everywhere in the world including countries that have the biggest oil reserves and multiple refineries e.g. Canada and US.

Geo-Politics 101 of the useless war going on in Iran. Laws of demand and supply.

Ok,
Tinubu and dangote should go and get oil in their state and refine then sell for 1million per litre,
U can't come to my state , drill my oil for free and claim it belongs to u and still sell high to me,
One day one day

Ur country is milking u people to death and using Iran war as excuse,
Iran and Iraq was in war in the 90s during military regime in Nigeria in the 90s and we had no problem with nnpc and military,
USA George Bush invaded Iraq and there was no fuel increase during military rule,
Tell me.... We have crude here and still pissing us off,
U guys don't know where this country is heading to...
I pity u all,
U have crude and many of u are still begging and blaming war in other countries and u have refinery here

So can you now mention ONE benefit of having to refine crude oil in Nigeria as against importation.. what is the benefit of dangote refinary

Lithiumite:
What are you yapping on about......subsidy removal was what made dangote refinery to even cone into existence in the first place,there was no way he would have been able to operate if givt continued fixing prices......is it only in nigeria pump prices have gone up?

Is it to you govt is paying the subsidy? You just grab your phone and start typing ilogical inferences just to show the world how ignorant you are.

What sought of analysis is this ?
When the product is low is the world market is it low in Nigeria market.
Y will a war not even in our continent affect us ?
There has not been electricity for the past week now
As a Nigerian I have seat and ask myself as a citizen of this country, what has been my gain for being a citizen of this country .
Money that should have been spent properly are being lavished on non exential things.
When you decamp today you collect your own rabba
There's nothing to be gained being a Nigerian !!!

Davimuyi:
So can you now mention ONE benefit of having to refine crude oil in Nigeria as against importation.. what is the benefit of dangote refinary

Energy sufficiency,imagine what would have happened right now if we had to solely rely on importation as was obtainable during the subsidy era.......dangote can take care of all the demand in west africa.

A country that has plentiful amounts of crude yet the government has left its citizens to the vagaries of international oil prices. If it fall they claim the prices cannot come down because Nigeria is not making enough, if it rises on the international market they tell us that the prices has to rise to reflect international oil prices.
I was ashamed while I was watching the UAE promising a soft landing for its people assuring them that prices of goods and services will be controlled so their people do not feel the effects of the war. This is a nation directly being attacked by the aggressive terrorist Islamic regime.
I became ashamed of the black race and particularly our failed government for the ineptitude and apathy towards their citizens.

Market forces ko, super force ni

When you forget that you are a producer and should not be an importer.....


How can a producer be talking about effects of importation on its own domestically produced goods....

Who exactly talk this thing first.