Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos - Business (4)

Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos - Business (4) - Nairaland

Nairaland Forum › Nairaland General › Business › Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos (11234 Views)

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Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Anfieldboss: 10:19am On May 28

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

Then the naira will weaken again. The solution is to make our refineries work and not import.

2 Likes

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Mandem05: 10:19am On May 28

gigabyte13:
🤣😂😂😅😂😂🤣🤣
😅😅😂🤣😂😂😂😂😂
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.

Make dem try am!!

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Mandem05: 10:20am On May 28

Anfieldboss:
Then the naira will weaken again. The solution is to make our refineries work and not import.

Loud it!!!

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Pacesetter123(m): 10:22am On May 28

If he didn't do like that,the marketers would have raised the price too high too.
Now,they can't do it again.
He fixed a ceiling for the price, and marketers can't go beyond that.
Both marketers and Dangote himself are all the same.
They are all capitalists that are after profit maximization.
So,let them fight for all I care.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by kennethesan(m): 10:25am On May 28

This is beginning to look like a taskmaster too... So, if they didn't import he wouldn't drop price

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by amazonguru001: 10:28am On May 28

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!

Honestly, Dangote is a very selfish monoplist.
He even had the gut to take the FG to court for granting more import license.

In that case more import licenses should be given.

Just imagine one man, holding the entire nation at ransome.
He single handedly determines commodity prices.
Small time, he will remove N20, and Nigerians will begin to sing his praise, calling him the next best thing after agege bread and akara.

Nonsense.

I hate what i dont like.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Diligence: 10:35am On May 28

Dangote is sick!

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by jubrilELsudan: 10:37am On May 28

Gboss247:
Continue to entertain yourself

YOUR GRAN GRAN TUWO

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Willie2015: 11:05am On May 28

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

Let those importers form a cartel and also build a refinery.. to compete.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Osanoghodua1: 11:08am On May 28

Dangote is a bad capitalist, he Knows what is best but he chooses not to do it until competition steps in.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Originalsly: 11:11am On May 28

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

This is the exact reaction that is expected from this report by ones who know to steer our thinking . They know we don't chew before we swallow... we just swallow what is put before us. Let me ask .... did the importers receive any fuel? They stuck in reportedly which they know we would overlook. It is not confirmed that they received any fuel. Let's assume they die .... do we know their selling price? If their selling price is below Dangote 's original price.... we also have to consider if the quality of the fuel is the same. We don't know but jump to the conclusion that Dangote reduced the price because of competition from the importers.

I can guarantee that the importers will not be selling the same quality fuel as Dangote at the same much less at a cheaper price than Dangote s original price . Dirty fuel is on the way.
Lastly..... what message did the FG send to investors? The contract with the FG was basically licences for the importation of fuel will not be granted unless there is a shortage .... local supply cannot meet the demand. Was there a shortage? No ...but the FG went against their agreement and granted licences. And we are blaming Dangote for going to court.

3 Likes

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by NwaliE01: 11:17am On May 28

This has been his tactics. The era of Bua cement. He does this price reduction after extorting the consumers for a long time.
Such a terrible monopolistic.

1 Like 1 Share

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by tonyashburton: 11:23am On May 28

Dangote does not peg his pricing to what importers are selling for. He uses an international benchmark called Platt's Market Scan to set his rates because he sells the larger percentage of his refined products to overseas buyers.

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

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Engineerfavour: 11:34am On May 28

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/

Something about business is that is the consumer that suffers most

Check my profile we set up pure water and bottle water factory

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Gboss247(m): 11:41am On May 28

gabbasin:
I quite agree with you, but without competition we'll still be at the mercy of Dangote on when prices should shift downwards when price of crude fall in the international market. With competition, consumers can still get marginal reduction on fuel prices

Be at the mercy of Dangote?
Petrol prices are around the world are subject to global oil prices except the government subsidizes.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by kedeojo(m): 11:49am On May 28

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

In as much dangote tried by building a refinery that successive government failed to do but he is not friendly with prices of the refined products. like you rightly said, why is now that he want to reduce price when marketers are expecting thier imported products. I really blame Jonathan who couldn't even build atleast a refinery in south south even if in bayelsea. he had opportunities to develop south south the major hub of oil and gas but failed. Nigeria can't afford to leave only dangote as the player. BUA refinery coming will still still toe same line with dangote cos they are brothers. let other tribes invest in refinery building.

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by kedeojo(m): 11:58am On May 28

gabbasin:
My question has always been why Dangote is afraid of competition, his refinery is in Nigeria and he's still afraid of competition from fuel importers. This gives me the belief that his products are more expensive than imported ones. If his excuse is that imported products are of inferior quality, have we not been using imported fuel before the coming on board of his refinery? Why is Dangote afraid of competition, if his products are prized competitively, no one will dare want to import fuel

Honestly it shouldn't be dangote headache if the importers are bringing the so called under quality product to Nigeria. he can't be a player and same time a coach. there are regulatory bodies and if they also fails then Nigerians should be the ultimate judge to choose which ones they want. we now knows that MRS are the retail wing of dangote's refined product and so Nigerians can decide to buy from them or buy from other retailers the marketers owns too. dangote won't have reduce the prices by #200 if importers we're not inspecting the product to land. he just want to frustrate them. past president and Tinubu now failed the nation for not be able to build a working refinery since the collapsed of the former ones. very foolish of them.

4 Likes

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by benardtotti(m): 11:59am On May 28

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

The guy is very crooked , since you know you can do without 200 naira per litre why don't u kuku keep the price at that level , no he will increase it again once importers have exhausted their supply.

This is why I agree that importation should continue until we have at least 3 more private refinery to compete with dangote

2 Likes

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by AbosedeFalade(f): 12:13pm On May 28

Gboss247:
How does import licences been issued has with oil prices falling in the global market with US Navy providing security for oil tankers?

This conversation is beyond your capacity. Look elsewhere for a topic within your capacity.

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Gboss247(m): 12:25pm On May 28

AbosedeFalade:
This conversation is beyond your capacity. Look elsewhere for a topic within your capacity.

You that is within your capacity could answer the question

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by gabbasin(m): 1:24pm On May 28

Gboss247:
Be at the mercy of Dangote?
Petrol prices are around the world are subject to global oil prices except the government subsidizes.

I'm not talking about international crude oil price determining fuel prices, we all know that. But leaving Dangote as the only determinant of fuel prices is a monopolistic tendency. Let's allow importation to checkmate Dangote and if his prices are competitive enough it will discourage importation. Dangote is the only one to discourage importation if he's giving us the best prices. If importers feel they can still compete with Dangote prices, they should be allowed. Say no to monopoly. We need to protect Dangote refinery though, but not at consumers' expense.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Gbogboski: 1:27pm On May 28

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

Anyone can bid for license to build a refinery,BUA is building his in Akwa Ibom state, but no to importation of petroleum products

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by ViceGovernor: 2:04pm On May 28

It's a free market, the people will buy from whoever sells cheapest.

Those trying to run that man out of business don't have the capacity or refinery to withstand the man.

Now those funny importers will sell this batch @ huge losses.

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

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by bluebay(m): 2:14pm On May 28

Dangote is a reckless businessman who cares not about his marketers. Just imagine someone purchasing 45,000 liters truck of diesel from.his refinery today and thr next day he cut down the price with 200 just to fight the marketers importing. What does he want to happen to those he sold.to.previpusly? This is madness. I will suggest the nation starts boycotting Dangote refinery. He doesmt.care about the masses but just put out other marketers to gain monopoly power all in expenses of his customers safety

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by ViceGovernor: 2:16pm On May 28

He is the second highest employer of labour in Nigeria after the federal government, if they do all those things you are talking about they would be shooting themselves in the foot.

Dangote is FG and FG is Dangote.

thesolutions:
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.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Omoreal01: 2:25pm On May 28

I have always say that the billionaires na crazy humans. Without monopoly, they can't never be that rich. Exploiters especially that Dangote na their chief executive.

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/

1 Like

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by EPIJOE: 2:46pm On May 28

Useless man. It shows he is ripping us. Because he here of import he quickly reduced the price.

It remains petrol now. Dangote is a thief in disguise.

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/

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by thesolutions(m): 4:36pm On May 28

ViceGovernor:
He is the second highest employer of labour in Nigeria after the federal government, if they do all those things you are talking about they would be shooting themselves in the foot.

Dangote is FG and FG is Dangote.

That is very wrong. That is one blackmail that is holding the government back.

If I'm the president, what ever you are producing must be cost friendly.

What was the price of fuel when brent crude oil crossed 100 dollars per barrel during Jonathan. What was the price when it near same amount during Buhari. Just last year, it went near to 90 dollars per barrel. What was the price of fuel then? So dangote saying that prince adjustments was as a result of fall in crude oil is lies.

He always stops local sales when international price increases and increases expectations to earn foreign exchange and commence local sales when boycott is experienced as prices drops on the international market.

Currently, he is not selling cooking gas because the price has gone up in the international market. Marketers are importing same product he is exporting at higher price. Once the international market prices crashes, he will start quoting PIB act and why government needs to stop marketers from importation after marginal reduction in price. This he has consistently done about Fuel.

About dangote being the federal government because he is second highest employer of labour, that is one hell of delusion. Even the local government can put his refinery on locks if he fails to maintain operational standards or written agreement.

He is riding on emotional blackmail called taqqyiya to trick loads of people about his importance and using his status to manipulate the system. If government places tariffs on his products, and use it to build a functional refinery, won't that benefit us more in the long run? But because government lacks foresight and can't overcome their own corruption, they can't think of a solution other than their pocket.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by Emeka71(m): 5:00pm On May 28

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

Why not let's put head together and open a refinery.

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by clearcrystal: 5:25pm On May 28

zionstaar75:
common sense is now very scarce on Nairaland.please what is the meaning of Deregulation?is it not allowing market forces to determine prices and ultimately price reduction due to competition?

Is this how you talk to your Father?

Re: Dangote Refinery Cuts Diesel Price By N200/litre As Importers Receive New Cargos by yemre: 5:48pm On May 28

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

Thank you very much. I've always been an advocate of competition. Competition is the only way we can get the real price of commodities, not when only one individual has access to a commodity and now dictates the price.

This is the reason he was trying to sue the federal government for granting import license despite having a private local refinery in place.

In addition, I think all these importers should also team up to build refineries so we can all enjoy that economies of scale.

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