₦airaland Forum

sleek214:
You have no idea about business, or I guess you're from a region that cheat a lot in the name of doing business. Price of a gallon of fuel that went up to $4 in the US is now down to the level it was before the war

So, you would set your prices as the customer pleases, not at the price that would enable you to keep your businesses running.

Okay. And you claim I know nothing about how a business runs.

I can imagine you baking bread for N1000 and selling it at N100 to help the poor and to avoid being called evil, while the losses harm your bakery...which is exactly the result of what you are saying.

But you are the business man, so you know better than poor old me.

Lanretoye:
Even the dangote want to use the avenue to make money to build refineries in Kenya and Tanzania by ripping poor Nigerian.

We don't have a government with regulations. Rather, the government wants to fleece Nigerians. Nigeria should benefit from increase oil price because we are an oil producing country. But the reverse is the case. Now that the oil price has crashed, it has not done us any good.

vislabraye:
We don't have a government with regulations. Rather, the government wants to fleece Nigerians. Nigeria should benefit from increase oil price because we are an oil producing country. But the reverse is the case. Now that the oil price has crashed, it has not done us any good.

NIgeria is an oil produicing country that does not make enough from oil to fund the kind of subsides you want for fuel.

If we wanted to have enough money from oil to fund subsides and have working refineries at the same time, like Saudi..either

1. Nigeria has about 40 million people and produces 10-12 million bpd of crude.

2. Oil prices stay consistently above 150 dollars per barrel

Both are not possible,

Our population is too large for our oil revenue to sustain it. That is before looting happens.

nairalanda1:
NIgeria is an oil produicing country that does not make enough from oil to fund the kind of subsides you want for fuel.

If we wanted to have enough money from oil to fund subsides and have working refineries at the same time, like Saudi..either

1. Nigeria has about 40 million people and produces 10-12 million bpd of crude.

2. Oil prices stay consistently above 150 dollars per barrel

Both are not possible,

Our population is too large for our oil revenue to sustain it. That is before looting happens.

Continue justifying pump price. It was never this bad. Since subsidy was removed, have you see the benefits ? PMB was paying subsidy for 8 years but has few debts. This Gvernment doesn't pay subsidy but Nigeria's debt has shot up to over 200 trn, which is more than PMB 8 years. ANd this government has only spent 3 years.

vislabraye:
Continue justifying pump price. It was never this bad. Since subsidy was removed, have you see the benefits ? PMB was paying subsidy for 8 years but has few debts. This Gvernment doesn't pay subsidy but Nigeria's debt has shot up to over 200 trn, which is more than PMB 8 years. ANd this government has only spent 3 years.

Actually debt rose under PMB. By 75trillion naira. the point where we were essentially using something called ways and means liberally. Add covid which so reduced oil prices that revenue took a big hit, and the fact that we literally had to use our forex revenue as collateral...and you have the result.

And tinubu has made it worse, that one i agree with you. It even gets bad because he won';t diversify the economy. And the annoying thing is he isn';t doing anything to reduce debt, because it means things that would be unpopular with the corrupt leaders, and with most people, including you.

Also,our debt is 159 trillion naira, not 200 trillion naira. (Personally, I won;t have been surprised).


Want to know the scary thing...if subsidy had gone in 2015, our debt today would have been 126-36 trillion naira.

Ultimately, the problem is, our government revenuse relies on oyel. Whose prices we do not control.

Fortune109:
😏

Come you are just derailing like WTF! Is this deliberate or what??

Did the report talk about Government Setting the Prices for Dangote? No!

In this thread...Has anybody said Subsidy should return?? No!

You brought up the two issues yourself and you argue it all on your own...

Is it a crime for people to ask Dangote to drop prices now that the Crude Price has dropped like he hiked them quickly when Price was high??





Are people even normal anymore!

Is it also crime for people to understand that they will not buy old stock at new prices?

boxypane:
Last last, na electric car I go buy. Coz even if person shift enter CNG, they will make it difficult in the long run. A responsive Government will re introduce subsidy, bypass Dangote and fully take over import of crude products by bypassing the evil marketers too.

After using tribe and religion to vote in government, it is now the imagination you wrote that will saved you?

Gboss247:
After using tribe and religion to vote in government, it is now the imagination you wrote that will saved you?

Who be this one? Well I know your type, the ones that attributes tribalism to any critique on your favorite politician. Have a rethink, just maybe you go wise up.
You just feel you can quote anyhow? Me no get your time o!
We dey find meat for soup, kpomo dey show face... Gerrara-here. Your money wey you dey save to buy bicycle loss?
Nor be your fault sha... E be like say to own and ride car still be imagination for you.

nairalanda1:
Nope.

Nigeria's economy is based on how much raw materials we sell, and the revenue we make from it. Because we do not set the prices of the raw materials we sell, we often times end up in debt, and running budget deifcits...which affect the strength of the naira, and lead to price increases...that never come down.

Then again, it's a common thing around the world. 4 liters of petrol used to cost less than 50 cents in the USA decades ago. You won't find petrol at that price in the US today.

Having said that, it does not make our situation any better. ITis even aggravated by importation of stuff including stuff that we can make at home. ...which drains our forex and naira strength even more.

That's why when choosing a leader next year, vote for the one who even vaguely promotes improving production at home.

Your points are well articulated and devoid of any subtle shades, I commend you for that.


Though I don’t think the leaders are the problem of Niger, the real problem is out 1999 constitution which is not a product of democracy but a military arrangement and it also has excuses and loopholes so much that it’s a contradiction and an aberration in the quest to mitigate our leaders excesses, coupled with out law practitioners.

boxypane:
Who be this one? Well I know your type, the ones that attributes tribalism to any critique on your favorite politician. Have a rethink, just maybe you go wise up.
You just feel you can quote anyhow? Me no get your time o!
We dey find meat for soup, kpomo dey show face... Gerrara-here. Your money wey you dey save to buy bicycle loss?
Nor be your fault sha... E be like say to own and ride car still be imagination for you.

I didn't ask you to describe yourself

Gboss247:
Which economy does Nigeria defy?

You want to make a point ?!

Gboss247:
I didn't ask you to describe yourself

Oga when you are done eating your mama food, try go ask how to become a man.

Gboss247:
Is it also crime for people to understand that they will not buy old stock at new prices?

But it's been 2weeks the price has dropped significantly...the hike was effected almost the next day the Crude went up...I can bet they still had their old stock of when they did that...

lawani:
Any market anywhere behaves exactly the same way

They should except where market prices are manipulated. If the cost of raw materials for the production of an item witnesses a huge decline, the cost of the end product should naturally decline.

It seems dangote is our major problem in this country and the government seems not to be bothered.