₦airaland Forum

nairalanda1:
Nigeria is not making enough money. This is not a defence of government, this is a show of how government is failing.

Also, keeping subsidy for over 5 decades damaged our oil exploration business. Had subsidy gone since say 1993, it would have become more proftable to drill for oil in nigeria and sell it to Nigerian businesses.

Also, oil to naira does not mean crude becomes cheap per se. It just means that whatever the dollar value in naira is, that is how dem go sell the crude. It was always just political smoke and mirrors by the government to make people happy

This madness of deceiving the masses and raising their hopes so high only to crumble it in a brutal manner needs to stop.......why can't these monsters just say things the way the are?.

Knowing Nigerians , I wonder if they'll fancy leaders who would tell them the truth as it is tho.

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars..
Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

ufotunang:
With the abundant crude oil we have in the country.. dangote imports crude oil..why can't sufficient crude oil be supplied to dangote refinery and all this importing crude oil will stop..this is what is making the price of fuel to be expensive

motymop:
Oil is tied to dollar, so why do anyone think dangote should sell in naira

The war between US and iran has started again over the strait of hormalz...so we should expect more inflation, currency flatuation and increase in cost of food and transportation

malali:
So why doesn't the government open up the petrol market and issue out importation licenses and make the market free for the lowest price. Provide government quality control.
They deceived Nigerians that importation was costing us Forex. Guess what Dangote is still importing today and he is also charging in Forex. We are not all stupid in Nigeria.

We can see whats going on. The scam is as clear as daylight.

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars abroad, yet they don’t price in dollars locally. So why is one man’s refinery holding the entire nation’s energy sector to ransom?This is not business. This is economic hostage-taking.

Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars abroad, yet they don’t price in dollars locally. So why is one man’s refinery holding the entire nation’s energy sector to ransom?This is not business. This is economic hostage-taking.

Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

tonididdy:
You sure this refinery isn't better burnt to the ground

...
This aboki is trying too hard to be next Elon musk

deebrain:
I'm not a government supporter and an online politician.

Im honored to have served my fatherland in one of the active services.

Some of your thread are the reason for unnecessary panic in this country.

First, you have to understand that Dangote is a businessman. Profit is their priority not philanthropy.

Second, this opening thread is speculation. It has not started. It is speculation. Can we avoid bringing speculation to front page, Mods. It creates unnecessary panic and drive many of these retailers to increase price independently due to this.

Abeg. Yes government no dey try. But we have our part to play. Can we only put confirmed news on front page?

Thank you.

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars abroad, yet they don’t price in dollars locally. So why is one man’s refinery holding the entire nation’s energy sector to ransom?This is not business. This is economic hostage-taking.

Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

CodeTemplar:
NNPCL as a rival should hand off anything that has to do with crude supply to Dangote.

malali:
Source: https://dailytrust.com/price-hike-looms-as-dangote-begins-sale-of-pms-diesel-in-dollars/

malali:
Source: https://dailytrust.com/price-hike-looms-as-dangote-begins-sale-of-pms-diesel-in-dollars/

malali:


Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

Ofunaofu:
The Tinubu-led federal government introduced the naira-for-crude deal with the Dangote Refinery, only to undermine it by failing to supply enough crude under the arrangement. As a result, the refinery has had to rely more on internationally sourced crude purchased in U.S. dollars.

Quite the definition of sabotaging your own policy.

Amhappy:
So all the importers in Balogun market should start selling their goods in dollars;household items,wears,imported food,medicine. If marketers buy petroluem products in dollars,will it be fair to say that the filling stations should start dispensing PMS in dollars? They better go for a round table discussion for us to change our currency to dollars.

SmartPolician:
I think we should be asking why Dangote still imports crude oil whereas the FG can give the refinery sufficient products to refine.

If Dangote is getting 90% of its feedstock in naira, the FG can sue the company for selling in USD

malali:
Source: https://dailytrust.com/price-hike-looms-as-dangote-begins-sale-of-pms-diesel-in-dollars/

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars abroad, yet they don’t price in dollars locally. So why is one man’s refinery holding the entire nation’s energy sector to ransom?This is not business. This is economic hostage-taking.

Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

MaziObinnaokija:
DANGOTE IS HERE /THERE DOING ANYHOW. GOD WILL SURELY RESCUE US FROM HIS PETROL WAHALA.

TODAY HALF GOOD NEWS,TOMORROW, SAD NEWS.

MAY WE NOT BE UNFORTUNATE

malali:
This is exactly the betrayal we feared.After promising Nigerians heaven, earth, and naira stability through local refining and reduced forex pressure, we are now quietly sliding back to sourcing dollars for petrol produced inside Nigeria.

The same people who hounded and fired voices like Farouk (who insisted on real competition and open importer licensing) have now cornered the market monopolistically, and suddenly the rules are being rewritten against the people.

Every importer in this country, whether selling solar panels, cars, phones, or food , buys in dollars abroad, yet they don’t price in dollars locally. So why is one man’s refinery holding the entire nation’s energy sector to ransom?This is not business. This is economic hostage-taking.

Nigerians, it is time we start praying seriously, because human beings running this country have clearly run out of solutions. The pain is becoming unbearable.

ejieddy:
Is it your company that you are crying betrayal? You give operating licenses to independent marketers who import crude in dollars and you give them forex, you stop the naira for crude supply and yet you want him to sell products in Naira? Are you ok at all?

Okpetruth:
No the FG cannot supply Dangote refinery all the crude needed. It's complicated one cannot explain it intoto.

TOMMYS:
Why? If I may ask

motymop:
There is a huge difference between how a refinery works and how a market trader works

Oil price and production is controlled by an international body called OPEC which set the price in USD to allow for easy trrading between international oil trading houses and their buyers

Dangote is buying crude oil in dollars from the Nigerian govt, because his main cost is in dollars, he has to sell in dollars to major oil marketers in nigeria so his business doesn't crash when the exchange rate jumps.

But those oil marketers don't turn around and sell petrol to you at the filling station in dollars. They do the math, convert it, and sell it in Naira.

It’s the exact same thing for Balogun traders. They might buy their containers from China in dollars, but when a regular customer walks into their shop to buy a shirt, they sell it in Naira

No one is saying we should pay for petrol or clothes on the street in dollars But the big companies buying thousands of metric tons of fuel at the depots have to deal in the currency of the global oil market