₦airaland Forum

Fiscus105:
Igbo president or any other president who has political will, will reduce insecurity drastically.

It's a function of political will. Anybody that caught, high or low should be dealt with, before you know, everybody will stop nonsense.

Because Tinubu has political will to deal with Malami and Rufai, does heaven fall now?

Enu dun ro fo 🤣

Fe nu wu ga tẹ

Sowore should know better than this...Unification of Global prices by OPEC means as a member country, you cannot sell below the benchmark price to local or foreign refineries. Price stays same, let refined quality determine patronage.

Must you say everything in public 🧐

Only one thing I can credit government for is availability. If it is during the old method, the price would have hit 1300 with lots of queuing and begging.[/quote]Credit which Government.
Does Government have a refinery?
Isn't Dangote the one to earn such credits?

Hemanwel:
How?? When we are still heavily dependent on importation of fuel?

Importation of crude oil/refined oil means we will be buying at International-market-controlled price

That is the deception the government is playing on you ordinary citizens. The truth is the country is making a windfall at the moment because of the war. Crude oil prices has surged far above what they have in their budgets meaning more money for the government.
But being the criminals that they are they exposed the country to the fluctuations in prices at the international market all because of avarice and greed.
Now when the price of crude falls at the international market they tell you the price of fuel cannot come down as Nigeria is not making enough money, but when it rises then they tell you fuel prices has to go up to reflect the increase. So either ways, the citizens would always be on the losing side.
If we had a responsive government they would have found ways to minimize the increase like other nations are doing but nay.

You are the class prefect of that nursery school.
OPEC does not determine shit.
If OPEC determines prices like you say, then the EU or the US cannot initiate a price cap on the price of Iranian crude.
Who needs OPEC by the way?
OPEC with headquarters in a non oil producing nation?
Can you tell us why Russia, USA, Canada, Qatar, Norway, Oman are not OPEC members?
What about neighboring oil producing Chad, Ghana, Cameroon and Sudan?
Can you tell us why Indonesia, Angola, Ecuador and Qatar left OPEC?
Sowore is very correct, Nigeria does not need OPEC that's why we are still in this crude oil mess.
The only reason we cannot invest and pump more crude into the world market to meet our financial and developmental obligations in Nigeria is because of OPEC quota system but you are fixated on pricing but not quantity.
Can OPEC decide for Cameroon or Angola on how many barrels it should produce per day or at what price it should sell?
But Nigeria dey follow OPEC like ekuke, so why will Nigerians not suffer when there are fluctuations in crude oil price?
Note that there has been no increments in fuel or gas prices in either Cameroon or Angola since this Iran war started and their governments are still paying subsidy.
This is only possible because they are free from OPEC quotas and pricing and can negotiate long term deals with whoever they want, for any quantity they want and at any price convenient for them.

Good day

KINGwax:
We have enough kids to start a nursery school in this forum.
OPEC determines the price of crude oil, so, if I babe bought fuel when it was ₦1300, I should sell the remaining at a loss because it's currently ₦960?

Same applies to, if I bought when it was ₦830 and it has increased to ₦1300, should I sell at ₦830? How do I restock? Where will the money to add to it for the new price come from when restocking?

Sowore only speak to his gullible people, Nigeria hasn't even broken even with daily crude Oil consumption, talk less of making money from its excess

Really unfortunate country with a particular concern 😔

datola:
Yes, the government is making more money from the war.

The problem is fuel price is determined by crude oil price. It is an international thing. That's why the price has jumped up in most parts of the world.

It is like that except the government intervened in some ways means.

My friend shut up there. You don't know what you are talking about. Petrol prices are not Internationalized anything. It's domesticated. It's your country that determines how much she wants to sell fuel. You are an oil producing country and should be reducing the price of petrol now since you are raking in billions selling crude oil at higher prices.

Hemanwel:
How?? When we are still heavily dependent on importation of fuel?

Importation of crude oil/refined oil means we will be buying at International-market-controlled price

That is why he is saying that it shouldn't be so.
That we have no business depending on imported fuel.
Is it a rocket science to build a refinery in Nigeria?
PBAT told us that he is removing fuel subsidy to enable him have money to build refineries.
But when the subsidy money enters his hand,he refused building the refineries, instead,he increases states allocation to governors to squander.
So Sowore is blasting him now that if he had built the refineries with the subsidy money as he promised,we would have been benefiting from the war in middle east now.
That's his message.

sulaak:
Sowore is clueless.

How can Nigeria make money from something that they barely produce? Nigeria need to produce 3 million barrels of crude oil a day to break even.

It was the likes of Sowere who protested against the removal of oil subsidies in 2012, which would have released funds to invest in oil exploration, refineries, and electricity power plants. The lack of investment in the oil sector is the reason why Nigeria is suffering today.

So,now that the subsidy has finally been removed by this administration, what stops them from building the refineries, improve electricity generation and oil exploration?
Their failure to do that is why Sowore is blasting PBAT now.

datola:
Yes, the government is making more money from the war.

The problem is fuel price is determined by crude oil price. It is an international thing. That's why the price has jumped up in most parts of the world.

It is like that except the government intervened in some ways means.

Government are making more money in d expense of Nigerians why can they intervene. Wicked government

kentokay71:
you do not even know what you are saying

He is very right data boy the government is making more money as the barrel increases they are
Just wicked

This is a type of person that should have been given chance since to govern Nigeria as her president but some certain interest wouldn't allow him.
See the honest truth he is speaking!!
Omo,I like this guy mhenn!!
A very patriotic and visionary Nigerian.

Ur just too funny

Greed won't allow

Pacesetter123:
So,now that the subsidy has finally been removed by this administration, what stops them from building the refineries, improve electricity generation and oil exploration?
Their failure to do that is why Sowore is blasting PBAT now.

The problem was that subsidies was funded with debt. Buhari. borrowed recklessly to funded fuel import and subsidies and to protect the Naira.

Any saving from fuel subsidies have been channelled to state governors, bloated government salaries and debt repayment

datola:
Yes, the government is making more money from the war.

The problem is fuel price is determined by crude oil price. It is an international thing. That's why the price has jumped up in most parts of the world.

It is like that except the government intervened in some ways means.

What stops state owned crude oil refineries from working?

franvincoop:
You are the class prefect of that nursery school.
OPEC does not determine shit.
If OPEC determines prices like you say, then the EU or the US cannot initiate a price cap on the price of Iranian crude.
Who needs OPEC by the way?
OPEC with headquarters in a non oil producing nation?
Can you tell us why Russia, USA, Canada, Qatar, Norway, Oman are not OPEC members?
What about neighboring oil producing Chad, Ghana, Cameroon and Sudan?
Can you tell us why Indonesia, Angola, Ecuador and Qatar left OPEC?
Sowore is very correct, Nigeria does not need OPEC that's why we are still in this crude oil mess.
The only reason we cannot invest and pump more crude into the world market to meet our financial and developmental obligations in Nigeria is because of OPEC quota system but you are fixated on pricing but not quantity.
Can OPEC decide for Cameroon or Angola on how many barrels it should produce per day or at what price it should sell?
But Nigeria dey follow OPEC like ekuke, so why will Nigerians not suffer when there are fluctuations in crude oil price?
Note that there has been no increments in fuel or gas prices in either Cameroon or Angola since this Iran war started and their governments are still paying subsidy.
This is only possible because they are free from OPEC quotas and pricing and can negotiate long term deals with whoever they want, for any quantity they want and at any price convenient for them.

Good day

Alaye, once the supply is reduced by OPEC, prices rises. That's as simple as that

Agreed bro, but why wait for OPEC to decide to increase supply for your price to rise.
USA is pumping daily even via fracking and is not constrained by OPEC.

Saudi Arabia and UAE do not have the sane developmental needs as Nigeria.
Imagine for a second that we were out of OPEC like Angola and we were pumping even 5 million barrels per day in Nigeria and selling at a capped price like Russian oil under EU sanctions, don't you think it would free us with more money for infrastructure, investment and industrialisation of this country?

OPEC is not our friend.
1.5 million barrels per day as Nigeria OPEC quota for a country of 200+ million people is inadequate for our development.

KINGwax:
Alaye, once the supply is reduced by OPEC, prices rises. That's as simple as that