₦airaland Forum

brain54:
Because he is a monopolist and an opportunist...

Malcolm21:
But when it's increased it happens so sudden at the local market, is that not double standard

Fearyourcreator:
But people from the east can tell you it's old stocks , leave Dangote alone , let him sell his old stock finish

anonimi:
Our own GOVERNMENT refineries are working.

Dangote must be waiting for NNPC refineries to crash their price to N70, which APC told us was the upper limit for petrol 11 years ago before they were allowed to replace PDP prosperity and implement their change promises.

Breaker001:
If they call you to come and explain this statement, you go fit explain am? Abi, you want chop dry garri with water water beans? Or you no like freedom, abi? Okay na. Continue to cho cho cho anyhow When you hear "gbam", you go bend. 😎

ceejay80s:
nada will happen, he is part of Nigeria's downfall

Breaker001:
Na so B-LORD bin dey talk until something began to happen. Na im body bin tell am 😂

MakindeHassan:
Some of you defend rubbish and that’s why God gave you APC.

Crude oil tankers take at least 3 months to arrive their destination so when the straight was closed and prices rose it was for new cargo and driven by futures contracts not already loaded cargo.

Dangote cannot say he didn’t have cargo that was already on sea which he bought at old price when prices rose but he chose to go with higher price due to future order. No wahala.

Using that logic, now that prices have fallen it is right to drop prices using today’s price regardless of when cargo was purchased since he increased regardless of when cargo was purchased

kaywhy09:
It doesn't happen so sudden at local market.

Malcolm21:
The price of crude oil has crashed internationally but why has Dangote not reduced the prices of his petroleum products? Because I noticed that when it was increased internationally he immediately increases his price but now that it's dropping why has he not followed suit

brain54:
What concerns people from the east with my comment now...?

ajebuter:
I think the straith of Humoz was closed again

Nonetheless, Dangote is really cashing out of our misery

EnemyofGod4:
It shall not be well with Dangote,

stuffs2002:
Dangote na full 100% capitalist wey like monopoly pass anything

Didijiji:
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100
During Jonathan Oil sold over $100

What this useless and clueless APC government was chorusing all through

Now we have seen oil spike over $100, they have gone dumb. We don’t know what the excess is, they removed subsidy too

NO EFFECT

Show me a more useless government

ceejay80s:
Dangote has always been a monopolist

ezekins:
One of the dangers of monopoly. He was quick to increase but hesitant to reduce it

Teymanhenry:
Imagine a woman selling rice:
When the price of rice in the market goes up today,
👉 she increases her price immediately so she doesn’t lose money.
But when the price of rice comes down,
👉 she may not reduce her price immediately.
Why? Because:
She still has old expensive rice in her store
She wants to recover the money she already spent...

Dangote still has old expensive stock. So until he sells the old crude oil, he won't be able to reduce the fuel price.

Kindly note that had Tinubu wanted to reduce the hardship caused by the war on Nigerians, there are many ways he could do it. But as usual, he care less about the welfare of the masses

Cromagnon:
Do the masses care about their welfare?

nairalanda1:
Also a simple search shows that there are 23 refienries currently in development.

Again, I am not defending anyone. Just staring facts. Had subsidy gone earlier we would have had more refineries.

No one invests in an industry where there is subsidy..Venezuela had subsidy for years . By 2008 refining capacity was down from 900000 to 100000 bpd. And no this was not because sanctions, it was a process that stated when they were not under us sanctions.

Run things at a loss , problems start

nairalanda1:
Well there have been some refining licences issued since the subsidy went and BUA is building his own refinery by the way.

Also why shifting the goal post old man?

Finally , CBN gave Dangote loans amounting to about 2billion dollars in eleven years. Dangote got most of the loans from international banks , local banks which amounted to 3 billion and a 3 billion loan from the African development Bank. The CBN loan has since been repaid.

Again Dangote got loans because he had other lucrative businesses which were in essence defacto collateral

Cromagnon:
why can't you chorus
Did you pay them to chorus

Malcolm21:
But when it's increased it happens so sudden at the local market, is that not double standard

Cromagnon:
And what have you been?

Username2780:
The economy is bad ? Don't be angry..... Work hard

bentenny:
That's based on your opinion which you are entitled to but it doesn't imply you are factual!

Gboss247:
The truth is now my opinion?

yemre:
I disagree with you on this. While your submission has some substance, it's not 100% correct in this our black country, considering the greed endemic in us. Interestingly, this goes beyond Dangote, it applies to majority of Nigerians.

Fiscal and monetary policy, yes! But remember the narratives of landing cost when Dangote hasn't started refining. Have you not asked yourself why we stopped hearing about that since Dangote started? Why do you think that the nupeng did everything possible to frustrate the refinery by using his oil workers sometimes last year?

When you make an importation for a product with the landing cost of 1,000 (taxes incl.), you can choose to sell at 2,000 (if you're the only importer). But imagine that you have about 50 other competitors! Some would want to sell at 1,300 for the turnover.

Back to Dangote, he bought crude here and refines here. Why should his own price be anywhere close to that of the importers who pay heavy logistics, shipping, customs etc! Even when he brings in crude, he still enjoys owning all of the bye-products.

Remember your farmers whom Buhari tried protecting by placing embargo on rice importation. What happened shortly after? Local rice simply moved from 6,000 to 75,000! Even without the cost of shipping, logistics and insurance!

It's just what it is.

Gboss247:
First of all, the landing of an imported product has nothing to the taxes of the country of production.
There are different grades of petrol across the world and we al know that imported petrol today in Nigeria disappear faster than spirits in Nollywood. Those imported evaporates quickly and let's not forget the marketers selling imported sells 0.7 litre as 1 litre. The 0.3 cheat is there profit 0.7 as 1 litre is the lie used to prove imaginary competition theory.
Finally, Buhari did nothing helpful to Nigerian farmers. Government across the world subsidizes fertiliser, provide cheap electricity, security, lower to no taxes etc. Which of this did Buhari provides?
He provided and still went ahead to increase the minimum wage in order to make Nigerians poorer. As if it was not okay, Buhari partnered with CBN governor Godwin Emefiele to print nairas and make Nigerians more by currency devaluation.

ceejay80s:
a polipolist