₦airaland Forum

Petroleum marketers have temporarily suspended large-scale fuel loading from the Dangote Petroleum Refinery following the company's decision to begin selling petroleum products in U.S. dollars. The move has created uncertainty in Nigeria's downstream oil sector, prompting the Federal Government to step in to monitor the situation and seek a resolution.

Although some marketers expressed concerns that fuel loading had slowed significantly, the Dangote Refinery dismissed reports that operations had stopped, insisting that product loading is continuing at its Lekki facility.

According to industry stakeholders, many marketers have adopted a wait-and-see approach as they seek clarity on the refinery's new pricing structure. They are also monitoring the arrival of imported petroleum products before making fresh purchases, fearing they could buy at current prices only for market rates to decline shortly afterward.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, explained that marketers are relying on existing fuel stocks purchased at previous prices while closely watching market developments. He noted that uncertainty over future crude supply and the pricing of imported petrol has made many dealers cautious about placing new orders.

With the Federal Government now involved, industry players hope a resolution will be reached soon to prevent any disruption to fuel supply or unexpected changes in pump prices.

Do you think the Federal Government's intervention will resolve the dispute quickly, or could this situation lead to another increase in fuel prices? Share your thoughts in the comments.

Source: https://punchng.com/dollar-sale-row-marketers-halt-dangote-fuel-loading-fg-steps-in/

Still back to square one .. Nigeria is in a real soup ..

Hmmm. Abeg o that dangote is a gem to Nigerian and a must have. Make una support that man. A true business man and my Nigerian mentor.

Nigeria can never get better.

It doesn't make sense for Dangote to sell to his country men and then ask them to pay in foreign currency.

If he needs FX, the once he exports to other country should provide him the needed FX.

Many of u don't understand what is going on....

I'm not saying Dangote is note helping with continuous supply of products in the market...but at what price and what cost...

The loading was suspended because Mr dangote claimed that that
He will now sell PMS in dollars to marketer..
Because he has been buying crude oil in Dollar...
Is that really all the truth?

But for real, I believe the major reason Mr dangote is acting that way is because of the importing license that the Fed government as issued to the marketer,

Because marketer believed that landing cost of imported petrol price is even cheaper than Mr dangote's fuel....

To make it worse..

Marketers has been going to lome port to buy the fuel exported by the refinery and ship them back into the country...and even with the running cost ...is even cheaper than buying directly from dangote...

The real question is, why is fuel been sold cheaper to the neighboring countries than to Nigerians ....

Let me remind u that the same thing was complained about Cement

See if anybody explain the situation of this country to u and u understand, u no normal... because.......

He should sell locally using the CBN rate otherwise not sell to them at all. The government should set this price at standstill.

Micolikes:
Petroleum marketers have temporarily suspended large-scale fuel loading from the Dangote Petroleum Refinery following the company's decision to begin selling petroleum products in U.S. dollars. The move has created uncertainty in Nigeria's downstream oil sector, prompting the Federal Government to step in to monitor the situation and seek a resolution.

Although some marketers expressed concerns that fuel loading had slowed significantly, the Dangote Refinery dismissed reports that operations had stopped, insisting that product loading is continuing at its Lekki facility.

According to industry stakeholders, many marketers have adopted a wait-and-see approach as they seek clarity on the refinery's new pricing structure. They are also monitoring the arrival of imported petroleum products before making fresh purchases, fearing they could buy at current prices only for market rates to decline shortly afterward.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, explained that marketers are relying on existing fuel stocks purchased at previous prices while closely watching market developments. He noted that uncertainty over future crude supply and the pricing of imported petrol has made many dealers cautious about placing new orders.

With the Federal Government now involved, industry players hope a resolution will be reached soon to prevent any disruption to fuel supply or unexpected changes in pump prices.

Do you think the Federal Government's intervention will resolve the dispute quickly, or could this situation lead to another increase in fuel prices? Share your thoughts in the comments.

Source: https://punchng.com/dollar-sale-row-marketers-halt-dangote-fuel-loading-fg-steps-in/

I can just imagine what would happen if the government stops giving importation license and dangote is allowed set the stage.

xxgig:
It doesn't make sense for Dangote to sell to his country men and then ask them to pay in foreign currency.

If he needs FX, the once he exports to other country should provide him the needed FX.

But it makes sense for his country to sell to him in USD

At the commencement of refinery operations, he said he was going to sell his fuel in naira. Less than a year later, he's making a U-turn. Why make promises you can't keep?

If NNPC is selling crude to dangote in dollars why would the federal government ask him to sell his products in naira?

Distributors and retailers too should 'dollarize' their sales so we can start using our dollar denom debit cards and Dom accounts to buy gasoline. Fair play.

This is one of the downsides of monopoly.
Dangote wants to sell his petrol in dollars, this alone will even make naira depreciate more.
The marketers that buys from him will start sourcing for dollars and it will affect the value of naira.

Petro-Dollar is untouchable.

What a shameless thing!

Same way realtor use dollars to sell when its focus is money laundering.

Who is that mod that is always deleting my comment ? I want to do a one on one boxing match with you. Send your location

xxgig:
It doesn't make sense for Dangote to sell to his country men and then ask them to pay in foreign currency.

If he needs FX, the once he exports to other country should provide him the needed FX.

The govt should make enough crude available to the refinery and sell in naira.

If they do not sell to him and the refinery has to import crude oil and pay in dollars, then there will be problems

Ubanz:
If NNPC is selling crude to dangote in dollars why would the federal government ask him to sell his products in naira?

The government told us it has stabilized the exchange rate. If it is stable and as some have said 'gaining in the dollar' why is anyone afraid to trade in naira....or is there something else going on....

Dangote is buying crude oil in Nigeria and outside Nigeria in dollars. Dangote refinery is facing feedstock challenges due to frustration by NNPCL and oil cabals.

Tell the oil cabals and the oil thieves empire in Nigeria they cannot kill Dangote refinery the way the killed Nigerian refineries for their selfish gains.

https://www.youtube.com/watch?v=PqmuBmL2kF8?si=CcnHw4lxfvUNPUf4

xxgig:
It doesn't make sense for Dangote to sell to his country men and then ask them to pay in foreign currency.

If he needs FX, the once he exports to other country should provide him the needed FX.

dominique:
At the commencement of refinery operations, he said he was going to sell his fuel in naira. Less than a year later, he's making a U-turn. Why make promises you can't keep?

Because there was a 'Naira for crude' deal in effect at the time. The FG suspended that deal and started pricing crude in dollars

Why is now looking like as if we are not capable of owning refineries in Nigeria, Must it be privatized?

maivd:
I can just imagine what would happen if the government stops giving importation license and dangote is allowed set the stage.

It will get to that stage someday, the writing is already on the wall.

mikeapollo:
The govt should make enough crude available to the refinery and sell in naira.

If they do not sell to him and the refinery has to import crude oil and pay in dollars, then there will be problems

I don't understand.
Which problem.
If.your currency is 'stable' it means the forces of demand and supply of the currency pairs are somewhere at or near an equilibrium.
That is the stability economists dearly seek to drive development.
Why it is rattling Dangote.

If the dollar is difficult to get, it means the naira is artificially supported and the present rate is not the true reflection of.its value....meaning currency subsidies are still going on. Thus Dangote doesn't want to be involved in all that.

Are we sure we understand what is truly happening in our economy at all....

Independence, properly understood, is not a flag raised or an anthem sung. It is the capacity of a people to determine the terms of their own survival and by that measure, Nigeria's independence remains, in many ways, unfinished business.

In 1960, Nigeria lowered the Union Jack and raised its own colors, and the world called it free. But flags do not refine oil. Sixty-odd years later,

Nigeria still ships crude to foreign refineries and buys back petrol at foreign prices, still measures its fortunes against the dollar rather than the naira, still negotiates with the terms set elsewhere.

A nation that cannot feed itself, power itself, or process its own raw wealth is a nation that has only changed the identity of its master, not the fact of being mastered.

Political independence gave Nigeria a seat at the table. It did not give Nigeria a say in what gets served.

This is the quiet tragedy of resource-rich nations: abundance without control. Nigeria sits on some of the richest soil and subsoil in Africa oil in the Delta, gas flared into the sky, minerals unmined, a youth population that is itself a kind of wealth and still borrows to build roads over the ground that holds it.

Economic sovereignty means owning the value chain, not just the raw material. It means a Nigerian currency that holds its worth, a Nigerian industry that processes what Nigerian land produces, a Nigerian budget not held hostage to the price of oil on a market in London or the conditions of a loan from Washington. Without that, elections change the faces in Aso Rock, but they do not change who really decides what Nigeria can afford to do.

None of this is fate. It is choice decades of choices about what to build, what to import, what to protect, and what to sell too cheaply. And so the harder, truer sequel to 1960 is not another parade but a different kind of struggle: the slow, unglamorous work of building factories instead of just markets for other people's factories, of refining what the land gives instead of exporting it raw, of making the naira mean something without apology. Political independence was Nigeria's first breath. Economic sovereignty is the harder task of learning to breathe on its own terms.

Womiloju Blog

So what has he been using to buy his crude from America and Even Angola? Cowry? When last did you supply him crude under the naira for crude arrangement? Pls answer those questions before you just talk. How many barrels of oil are you selling to him in Naira daily for a refinery that can refine 650,000 barrels a day? You allow him to constantly import crude in dollars and you don't want him to sell in dollars? Where will he get the dollars to buy the next crude without going to CBN?

Eraddray:
Many of u don't understand what is going on....

I'm not saying Dangote is note helping with continuous supply of products in the market...but at what price and what cost...

The loading was suspended because Mr dangote claimed that that
He will now sell PMS in dollars to marketer..
Because he has been buying crude oil in Dollar...
Is that really all the truth?

But for real, I believe the major reason Mr dangote is acting that way is because of the importing license that the Fed government as issued to the marketer,

Because marketer believed that landing cost of imported petrol price is even cheaper than Mr dangote's fuel....

To make it worse..

Marketers has been going to lome port to buy the fuel exported by the refinery and ship them back into the country...and even with the running cost ...is even cheaper than buying directly from dangote...

The real question is, why is fuel been sold cheaper to the neighboring countries than to Nigerians ....

Let me remind u that the same thing was complained about Cement

See if anybody explain the situation of this country to u and u understand, u no normal... because.......

Micolikes:
Petroleum marketers have temporarily suspended large-scale fuel loading from the Dangote Petroleum Refinery following the company's decision to begin selling petroleum products in U.S. dollars. The move has created uncertainty in Nigeria's downstream oil sector, prompting the Federal Government to step in to monitor the situation and seek a resolution.

Although some marketers expressed concerns that fuel loading had slowed significantly, the Dangote Refinery dismissed reports that operations had stopped, insisting that product loading is continuing at its Lekki facility.

According to industry stakeholders, many marketers have adopted a wait-and-see approach as they seek clarity on the refinery's new pricing structure. They are also monitoring the arrival of imported petroleum products before making fresh purchases, fearing they could buy at current prices only for market rates to decline shortly afterward.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, explained that marketers are relying on existing fuel stocks purchased at previous prices while closely watching market developments. He noted that uncertainty over future crude supply and the pricing of imported petrol has made many dealers cautious about placing new orders.

With the Federal Government now involved, industry players hope a resolution will be reached soon to prevent any disruption to fuel supply or unexpected changes in pump prices.

Do you think the Federal Government's intervention will resolve the dispute quickly, or could this situation lead to another increase in fuel prices? Share your thoughts in the comments.

Source: https://punchng.com/dollar-sale-row-marketers-halt-dangote-fuel-loading-fg-steps-in/

Dy will tell u subsidy is back niyen anoda scam loading.. nigeria go see shege promax by d time tinubu is done wt nigeria

D mistake he made was removing d so called scam subsidy wen we al knw na scam

Curious345:
Still back to square one .. Nigeria is in a real soup ..

We are not backed to any square one unless you don't know what you're talking about. This is just a disagreement but it doesn't nullify the fact that there is plenty of refined fuel products on ground. May be you didn't know our problem in the past

WorkTheTalk:
Dangote is buying crude oil outside Nigeria in dollars due to frustration by NNPCL and oil cabals.

Tell the oil cabals and the oil thieves empire in Nigeria they cannot kill Dangote refinery the way the killed Nigerian refineries for their selfish gains.

https://www.facebook.com/share/v/1CGnBhUmoq/

That been said, Dangote is not the only one buying stuffs from outside the country in dollars.
Other businesses and Manufacturing firm also buys products, raw materials and semi finished goods from outside the country and pay in Dollars but still sell to Nigerians in Naira.

xxgig:
It doesn't make sense for Dangote to sell to his country men and then ask them to pay in foreign currency.

If he needs FX, the once he exports to other country should provide him the needed FX.

And also he buys Crude for Naira abi

erico2k2:
And also he buys Crude for Naira abi

Every business that source supplies outside the country pay in dollars and sell in Naira.

Do you buy your phone, Laptop and cars with dollar? Does the sellers purchase it with cowry?
These are products that were produced abroad. Dangote claims to buy his crude in USD, but where is he producing?

ejieddy:
So what has he been using to buy his crude from America and Even Angola? Cowry? When last did you supply him crude under the naira for crude arrangement? Pls answer those questions before you just talk. How many barrels of oil are you selling to him in Naira daily for a refinery that can refine 650,000 barrels a day? You allow him to constantly import crude in dollars and you don't want him to sell in dollars? Where will he get the dollars to buy the next crude without going to CBN?

xxgig:
Every business that source supplies outside the country pay in dollars and sell in Naira.

we talking of the one he buys in Nigeria,