₦airaland Forum

Kuginzi:
Why is it that it is after Importers Receive New Cargos?

If that's the case, I wish FG grant import licences to marketers for the importation of petroleum products, Fuel price will reduce automatically

Dangote is evil, we all know that he did not build his refinery to help Nigeria

Dangote Refinery has been orchestrating a monopoly in the downstream sector abinitio. That was a major component of his strategy and he planned to replicate the control that NNPC had on the petroleum marketing ndustry for years.

I am not surprised that he orchestrated the removal of the formal NMDPRA boss and he has been trying to impose Dangote Refinery as the sole supplier of petroleum products in Nigeria, at ridiculous prices with the believe that Nigerians would have no option.

It is very exigent to bring other Nigerian Petroleum Refineries on board and create a competitive market that allows forces of demand and supply to determine the prices of petroleum products.

Trendie247:
Dangote is the weapon fashioned against us.. So once the importers exhaust their products, he'll increase the price again. It's well

Gbam!! You gerrit.

Wallade:
Dangote Refinery has been orchestrating a monopoly in the downstream sector abinitio. That was a major component of his strategy and he planned to replicate the control that NNPC had on the petroleum marketing ndustry for years.

I am not surprised that he orchestrated the removal of the formal NMDPRA boss and he has been trying to impose Dangote Refinery as the sole supplier of petroleum products in Nigeria, at ridiculous prices with the believe that Nigerians would have no option.

But Dangote has not prevented NNPC from fixing the 4 refineries they have so your argument is baseless. Dangote cannot impose anything on Nigerians. The fact that Dangote refinery is the only major functioning refinery in Nigeria is not Dangote's fault.

LibertyRep:
Competition is good

Monopoly is awful.

Where was your competition theory when oil prices was over a $100 and no ships passing through the Strait Of Hormuz?

Kuginzi:
Why is it that it is after Importers Receive New Cargos?

If that's the case, I wish FG grant import licences to marketers for the importation of petroleum products, Fuel price will reduce automatically

Ships moving through the Strait Of Hormuz looks like a joke to you?

🤣😂😂😅😂😂🤣🤣
😅😅😂🤣😂😂😂😂😂
Baba don dey see the voice of Jacob but the hand of Esau
If no be say, him na wicked soul.
If he make the prices comfortable for all marketers, they will all patronized him but
Him wan dey form kingkong.
Body go tell am
Na marketers go crash him petrol price as him wan too get sense pass everybody.

educatedfool:
Dangote dey play dirty game here

Dirty game as how?
Is oil prices now down?
Are oil tankers not moving through the Strait Of Hormuz after after a temporary ceasefire agreement?

Dangote is still your father no matter how much you shout monopoly. Let him achieve status post-IPO first. Jealousy. 🤣

clearcrystal:
This speaks volume about the intention of Dangote himself.
Monopoly shouldn't be allowed in the oil sector

Keeping talking about imaginary monopoly when geopolitics is been played in the Middle East

Let the reduction reach PMS too

1320 is too high a price for a litre

DJperdurabo:
.

Now, that's the power and effect of "competition" in a market!

Was it competition to open to the Strait Of Hormuz or US Navy ships escorting oil tankers?

You might want to edit this

Gboss247:
Where was your competiion was oil prices was over a $100?

Bluearrow:
Monopoly is truly bad for consumers

Imagine an adult talking about imaginary competition when geopolitics is been played in the Middle East

Gboss247:
Was it competition to open to the Strait Of Hormuz or US Navy ships escorting oil tankers?

Wow..so you're crediting this development to the opening of the Hormus Strait?

Oh well! (rolls eyes).

Bluearrow:
Honestly
Only one person shouldn't be allowed to determine prices of commodity in such an important sector

Last I checked, oil prices were determined by future contracts through global demand and supply on commodity exchanges.

Mandem05:
But Dangote has not prevented NNPC from fixing the 4 refineries they have so your argument is baseless. Dangote cannot impose anything on Nigerians. The fact that Dangote refinery is the only major functioning refinery in Nigeria is not Dangote's fault.

Mr/Miss internet Ninja - Mandem05, welcome oh!

My position on the topic is mine rightfully and not an argument; I am not in an argument with you so don't come to my mention with arguments.

NNPC owned refineries are not economically viable and cost effective in today's world. They are outdated in terms of engineering, designs, functionality and capacity so the solution is to sell the companies at scrap value or de-assemble the majority of the equipment and sell as scraps to allow the introduction of new and updated equipment and storage facilities at ali the three refineries. There will definitely be a need to also overhaul the human and material resources to deploy in the new, modernized and advanced refineries.

Dangote Refinery is definitely in a position to impose monopoly on the downstream petroleum products production and marketing industry in Nigeria. You only took a contrary position because you don't understand the economics and business finance and entrepreneurship involved.

It is definitely not Dangote's fault that his refinery is the major functional refinery in Nigeria; it is the fault of the federal government over the years and currently. Though we know several, over 10, licences were issued for moribund refineries of small crude oil capacities across states. We know that BUA is actively building another petroleum refinery that has exceeded 50% completion level but has lower crude oil processing capacity compared to Dangote Refinery. We are also aware that a larger crude oil capacity petroleum refinery has been licensed to take off in Ondo state. Efforts are seen but how soon it would translate to additional production of petroleum products refining in Nigeria is what we can't predict effectively.

For now, the only option the government of Nigeria and Nigerians have is to create another supply alternative through importation despite the production of petroleum products by Dangote Refinery and supply to the local market, this is to create an enabling environment for forces of demand and supply to determine the final prices of petroleum products and encourage investment in the downstream petroleum industry.

Government is sleeping on Dangote. They should place high tariffs on Dangote products. Both for local and for export.
They should give room for importation. They have floated the forex and are still regulating importation. For what reason.
Until Dangote begin to lobby for government help and reach favourable national resolve, the government is not doing anything meaningful.
How can imported products be cheaper than products produced locally. There shouldn't be competition. But the system that is benefiting will always protect the fraud.

dre11:
Dangote refinery cuts diesel gantry price by N200/litre as importers receive new shipments

https://www.thecable.ng/dangote-refinery-cuts-diesel-gantry-price-by-n200-litre-as-importers-receive-new-shipments/

How soon will NNPC's refineries cut the price of petrol to help Tinubu crash the price as he promised more than three years ago, before he was allowed to grab power and hit the ground running

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.


https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-price-goes-viral-amid-hike/



https://www.youtube.com/watch?v=4JH8CC_JdUA

brain54:
Wicked man...


That's why he doesn't want import license to be given.


Someone that builds his business on the sweat, blood, sorrow and tears of his fellow country men.


Very manipulative man!

Wicked man is man who thinks petrol wouldn't rise of oil prices raises when petrol subsidy has been removed

Obaofaba:
This is economic sabotage from Dangote.

So without the competition from the marketers, he will have been ripping us out.

Be there qoutong imaginary competition when US Navy ships are escorting oil tankers through the Strait Of Hormuz

AbosedeFalade:
This is the exact reason why Dangote shouldn't be allowed to have his way as the sole dealer of petroleum products in the country. So, if import licenses weren't issued, he wouldn't have reduced the price.

Truly, he's a monopolist. A greedy one at that.

How does import licences been issued has with oil prices falling in the global market with US Navy providing security for oil tankers?

Tenses:
This price war go long ooo

Oh boy that was a checkered move from Dangote. Let's see how the importers will respond.

Grab a pack of popcorn 🍿 and enjoy this brand new series.

Price war or US vs Iran?

Menclothing1:
Don’t blame him a new refinery can do price competition with old once that have made profit person wey still get loan of 5b dollars to pay

When he started plans for that refinery in 2015 to 2016, pms was sold below 145naira.

He was hoping that by the time they remove remove subsidy, pms would be around 450naira to enable him pay back the loans.

Luckily for him, poor leaderships in naija forced price to about 800naira. That is not enough for him, he started hiking price up n down to pay of the loan much quicker.

Monopoly is what he thrives on.

I pity those of u always supporting him especially during the pengassan issue. Your families will one day work in his refinery then u will know what it means to work in oil company and be very poor. Even tiny oil companies pay times 5 of what he pays.

johngwain:
This dangote na wicked man oh, govt need to give as many import license as possible to create serious competition otherwise dangote is ready to monopolize and sell fuel 5000k per liter

Continue to quote imaginary monopoly and competition theories when US Navy has taken over the Strait Of Hormuz

Bluearrow:
Monopoly is truly bad for consumers

Opinedecandid:
That's quite interesting because I've always known that monopolio isn't good for pricing.

You guys should note that there is no monopoly since 2015 when NNPC refineries have been back in production, thanks to the propaganda announcement of APC reformers,

Princecalm:
Jul 29, 2015

The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.

The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.

The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.

Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.

It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”

The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.

It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.

The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”

The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.

It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.

http://www.punchng.com/news/pharcourt-warri-refineries-commence-preliminary-operations-nnpc/

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saintopus:
Dec 06, 2024
The PH Refinery ships its first export of petroleum products to Dubai.
The company is expected to load the cargo in the coming days onboard the Wonder Star MR1 ship, signalling the commencement of operations at the plant and the exportation of petroleum products.

The ship will load 15,000 metric tons of the product, which translates to about 13.6 million litres.

Although the volume coming from the NNPC into the global market is still small, the development has the potential to impact the Very Low Sulphur Fuel Oil (VLSFO) benchmarks in the future while changing the market realities for Atlantic Basin exporters into Nigeria and other regions.

The sulfur content of the export by NNPC stands at 0.26 per cent per wt and a 0.918 g/ml density at 15°C, according to Kpler, a data and analysis company.

The cargo was reportedly sold at an $8.50/t discount to the NWE 0.5 per cent benchmark on a Free on Board (FOB) basis.

Kpler reported that the development would help displace imports from traditional suppliers in Africa and Europe, as Nigeria’s falling clean product (CPP) imports are already decreasing, dragging imports into the wider West Africa region lower as well.

https://guardian.ng/energy/nnpc-begins-export-from-ph-refinery-as-dubai-firm-buys-first-cargo/

Dangote is not the problem but the federal government, remember dangote is a business man

Mandem05:
Na business be dat. Importers can also strategize.

Why did the importers strategize when oil price was above $100 and the Strait Of Hormuz closed?

Houseofglam7:
One man… having an entire country on chokehold. Interesting times indeed.

One man like the US president or Supreme Leader of Iran?

Dangote is a criminal

Dogalmighty17:
Why wait until importers brought in new shipments Dangote?

Oil prices are falling globally as US Navy is providing security for oil tankers to move through the Strait Of Hormuz

phemmie06:
Is it fuel importers the one that are checkmating Dangote?

In as much as I love Dangote, I used to say it then that he is a business man and nothing more but a politician.

It the fuel importers that are providing security for oil tankers to pass through the Strait Of Hormuz or US Navy?