₦airaland Forum

stuffs2002:
Dangote is worse than an armed robber.



Dangote that is supposed to be cheaper than the landing cost of foreign fuel is now far more expensive.

Imagine high quality octane 95 petrol cheaper than substandard octane 89 petrol

yemre:
I hope some people can now see the reason I was against those who claimed that we were not supposed to be importing again just because we now have a local private refinery.

For crying out loud, fuel was sold for #739 when crude was sold for $70 in February. It climbed to #1324 when crude was $120 . Now same crude is back to $68.8 and the fuel doesn't want to come down in the same progression. Someone should please tell me why a liter of fuel should be sold for more than #710 as of today if not for exploitation!

These people are in business to make money and it's just unfortunate that we don't have enough competition in the downstream sector of oil and gas industry. By now, we should have about 10 other local refineries competing for customers.

In the absence of that, pls let's have about 100 companies bringing in petrol into the circulation.

I hope you know that those filling stations selling imported petrol sells higher than Dangote with lower quality

FutureFocus:
If true, Dangote should be forced to take his price below that or importer giving approvals to bring in 50% volume to teach him a lesson

Imagine forcing an iPhone retailer to sell iPhone 17 at iPhone 11 price

GreenCovering:
Where are those running with the argument that Dangote is still processing crude oil he bought at higher prices as a reason for why he has not significantly brought down the ex-depot price? Should he bring it down to below this ₦983.92 per litre now, then you should realise that he has been greedy about the pricing after all he also had lower priced feedstock processed for higher priced fuel at the beginning of the global crises. I like Dangote and I want his refinery to blossom but I have also learnt to stand with the general good of people rather than the capitalists.

You guys are quick to remember that importers quotes a lower ex-depot prices and sells higher pump Dangote

Wstation:
If it's monopoly use that funds that you are using to import come together as one and build yours. Enough of all these monopoly yarn it doesn't hold water. Before Dangote started building his refinery who stopped then from building a refinery? I'll tell you who greed! They realised they made money from collection of subsidy than actually building a refinery that would have created jobs. Bunch of greed mfs

Dangote is still a scam. How can what is produced locally be more expensive that the one that is imported?

Difrent:
Read an article that tried to explain this. It was discovered that Dangote sells petrol a bit cheaper to the other west African nations so our ever innovative importers devised a means by which they go to those other countries mop up the cheap petrol and bring it back to Nigeria and ironically it will still be cheaper than what Dangote is selling to Nigerians
I'm one of those who used to see nothing wrong with Dangote monopoly but changed my mind after reading this article
Mans just exploiting his fellow Nigerians
Yes I know he a capitalist

To be sincere you missed the whole economic lesson.
1. Any product manufactured in any is only subject to that country's taxation.
2. Buying a product from a foreign country exclude that country taxes and includes the importing country taxation.
3. Manufacturers are obliged to sell there products to foreign buyers at ex-factory price which is the manufacturers cost of production and profits.
Now, this is were you got for it wrong.
1. Dangote selling to other countries exclude Nigerian tax laws.
2. Those countries have favorable tax laws compares to Nigeria, hence Nigerian sells cheaper there compare to Nigeria.
3. The idea of importers going there buy and resell in Nigeria is total lies and scam to put gullible on there because of they have a landing cost of ₦900+ per litre, after adding Nigerian taxes. It sell for ₦1,400+.

lrdval:
Tell Dangote that he has fewer years to live than what he already lived. He will not pack this money to heaven. Even the kids will never be poor. Let him and the government stop exploiting Nigerians.

It is now exploiting and no longer the market forces of demand and supply will determine the price of petrol.

yommen:
While he, Dangote sells to neighbouring countries at cheaper rates.

Did you expect other countries to buying higher with you who use tribe and religion to vote in government that increases taxes?

JuanDeDios:
Never. Let's hope the other refineries come on stream soon - to at least weaken the present monopoly a bit.

Continue to quote imaginary monopoly where the government in power deals with you mercilessly

Harmony22:
Everyone can now agree that Mr Farouk that was having a confrontation with dangote then as regard importing of petrol was right all long. Nigeria is a country where an average business want to make big return on their investments within a very short time at the expense of exploitation of the masses because the masses here endure and adapt hardship so fast unlike the western world..

It is only the importing price of petrol that was forcing dangote hands to reduce the petrol price to force out the marketer out of the market so they sell at a lose and not being intentional about it to the masses. In coming days now you will see how he will reduce his gallantry price in order to be more cheaper than the imported fuel so people will be force to buy from him alone. More licenses should be issued to the importer so the market won't be monopolized and his head will be correct then.....

Continue to consume substandard petrol that destroys your engine and quote imaginary monopoly and competition theories

Henjor48:
Yes, I am in full support of this competition as long as the quality & standards are not compromised.

So, let the competition continue to kill monopoly.

Thank you for your attention to this matter

competition importing lower quality petrol, announcing a lower ex-depot prices and selling at higher pumps compare to high quality petrol coming from Dangote refinery.

commoditiesnig:
Welcome development

We expect PMS cost at pump to come down around N900/ltr

Dangote and co should do better

Welcome of marketers announcing ex-depot price of petrol while hiding the pump price you actually buy.
Continue to welcome development!

Gboss247:
Continue to quote imaginary monopoly where the government in power deals with you mercilessly

How is the government dealing with you mercilessly?

omoredia:
Dangote is still a scam. How can what is produced locally be more expensive that the one that is imported?

Say whatever you want. I believe Dangote and I support his price. The marketers on the other hand are greedy scammers after they benefited from the fraudulent subsidy now they want to reverse our progress because of their own benefits. So yes I prefer Dangote's kind of evil. The marketers can go to hell and burn in the deepest and darkest part of it.

Wstation:
Say whatever you want. I believe Dangote and I support his price. The marketers on the other hand are greedy scammers after they benefited from the fraudulent subsidy now they want to reverse our progress because of their own benefits. So yes I prefer Dangote's kind of evil. The marketers can go to hell and burn in the deepest and darkest part of it.

Was dangote not also taking subsidy? They just did the refinery as a front to cover the stealing and avoid scrutiny

Gboss247:
When your naira exchanges for ₦1,360/$, what do you expect?

That's because we're major consumers and not producers

omoredia:
Was dangote not also taking subsidy? They just did the refinery as a front to cover the stealing and avoid scrutiny

There is no evidence to that effect. Now let's even imagine this was true. Dangote Refinery has not received the kind of fuel subsidy that was historically paid to importers and marketers of petrol. The benefits of a refinery trumps importation of refine crude.

omoredia:
So u want theives to admit evidence against themselves? 2mrw u will claim to have certificate smh

Okay you that have Certificate. Just assume that I am Olodo full one. Now educate on why Dangote refinery is not beneficial to Nigerians and Nigeria as a country and why we should stick to the importation of refine crude oil? Just indulge me educate us sir we want to learn from your wealth of knowledge. Don't leave us give us the benefits.

Wstation:
Okay you that have Certificate. Just assume that I am Olodo full one. Now educate on why Dangote refinery is not beneficial to Nigerians and Nigeria as a country and why we should stick to the importation of refine crude oil? Just indulge me educate us sir we want to learn from your wealth of knowledge. Don't leave us give us the benefits.

The only way it is beneficial is for petroleum products to be cheaper in Nigeria than the imported ones. We are funding our own demise by dangote monopoly

omoredia:
The only way it is beneficial is for petroleum products to be cheaper in Nigeria than the imported ones. We are funding our own demise by dangote monopoly

Good. At least we agree on one thing, fuel should be cheaper for Nigerians.

On the issue of whether Dangote has a monopoly, it's more nuanced and not a simple yes or no. Right now, Dangote is the biggest player because he invested billions of dollars to build a refinery. That gives him a strong position, but it does not automatically mean he has an unfair monopoly. Whether it becomes one depends on how the market evolves and how competition laws are enforced (that's the role of FCCPC and NMDPRA).

Now the bigger question is, why didn't others build refineries years ago? The answer is obvious, for a long time, importing petrol was easier, less risky, and more profitable than spending billions to build a refinery. So many investors chose to import instead ( maybe later I'll explain NNPCs role in this).

Also, it is not true that only Dangote can build a refinery. Other companies can get refinery licences too, and BUA is one of them. The real issue is whether more competitors invest, enter the market, and are able to operate effectively.

My view is that instead of depending on imports, marketers who have the capacity could come together, pool their funds, or partner with foreign investors to build more refineries. More refineries mean more competition, and more competition is what helps keep prices fair. Not also forgetting the need for naira for crude policy.

But me I be Olodo o. You probably know more than me.

Wstation:
Good. At least we agree on one thing, fuel should be cheaper for Nigerians.

On the issue of whether Dangote has a monopoly, it's more nuanced and not a simple yes or no. Right now, Dangote is the biggest player because he invested billions of dollars to build a refinery. That gives him a strong position, but it does not automatically mean he has an unfair monopoly. Whether it becomes one depends on how the market evolves and how competition laws are enforced (that's the role of FCCPC and NMDPRA).

Now the bigger question is, why didn't others build refineries years ago? The answer is obvious, for a long time, importing petrol was easier, less risky, and more profitable than spending billions to build a refinery. So many investors chose to import instead ( maybe later I'll explain NNPCs role in this).

Also, it is not true that only Dangote can build a refinery. Other companies can get refinery licences too, and BUA is one of them. The real issue is whether more competitors invest, enter the market, and are able to operate effectively.

My view is that instead of depending on imports, marketers who have the capacity could come together, pool their funds, or partner with foreign investors to build more refineries. More refineries mean more competition, and more competition is what helps keep prices fair. Not also forgetting the need for naira for crude policy.

But me I be Olodo o. You probably know more than me.

Why are bandits having it easier to engage in terrorism and kidnapping? Because the FG gives them support. Same for dangote. Connect the dots. If the nigeria govt has favoured u ur business loses will be for nigerians and your profit will be for you and the elites.

omoredia:
Why are bandits having it easier to engage in terrorism and kidnapping? Because the FG gives them support. Same for dangote. Connect the dots. If the nigeria govt has favoured u ur business loses will be for nigerians and your profit will be for you and the elites.

I don't think that's accurate. It would be counterproductive for the Federal Government to deliberately sponsor terrorists. That said, is it possible that there are saboteurs within government institutions who leak intelligence or operational information to terrorist groups? Unfortunately, yes that's a possibility and has been a concern in many countries facing insurgencies.

One thing I've noticed is that discussions around Nigeria's political and socioeconomic issues are often driven more by emotion than by critical analysis. These are complex problems, and they deserve thoughtful, evidence based conversations rather than assumptions.

Wstation:
I don't think that's accurate. It would be counterproductive for the Federal Government to deliberately sponsor terrorists. That said, is it possible that there are saboteurs within government institutions who leak intelligence or operational information to terrorist groups? Unfortunately, yes that's a possibility and has been a concern in many countries facing insurgencies.

One thing I've noticed is that discussions around Nigeria's political and socioeconomic issues are often driven more by emotion than by critical analysis. These are complex problems, and they deserve thoughtful, evidence based conversations rather than assumptions.

A govt that calls Terrorists 'repentant' is working for the terrorists. Only a fooI will doubt the obvious