₦airaland Forum

Agbalowomeri:
If government no give license, na una go still shout monopoly

mikeapollo:
Look at someone that wants to be a billionaire, calling another billionaire ''greedy''.
Na wa to you ooo

veecovee:
I salute you all beloved folks. It's been a long time.

Assuming the refinery shares wasn't oversubscribed next month what will finally be the size of the outstanding number of shares to be listed in November. Will it be up to the size of dangcement?

Agbalowomeri:
So you don't know that it is slightly cheaper to import right now abi where the subsidy wan take enter?

mikeapollo:
It is always good to see the broad picture of things or issues; not everything should be seen as '' he is a critic, he does not like my govt'' mindset.

Even people like you should be arrested for questioning by the govt. No ''good'' govt should be friends with an ''Agbalowomeri''.

SonofElElyonRet:
Na me create greed and fear index?
Ogbeni semi jeje o

Streetinvestor2:
So why is it cheaper after all the logistics it carries. It means Dangote is exploiting us with price

And this fraudulent government is still importing fuel for whose consumption. Is Dangote refinery and other modular refineries not meeting nigeria daily consumption even as alhaji is operating at fuel capacity.
I thought they claimed importation had ended at a time

mikeapollo:
Chief ''Semi Jeje'' of Lagos.

Streetinvestor2:
Abeg which wale is on this post
I hope it is not the one associated with oando

awesomeJ:
You do realize there are sanctioned oil cargoes which trade at significant discounts. There are also cheaper off-spec (dirty fuels). When those get imported, they'll naturally be cheaper.
I don't think the government claims any ban on importation, that would be too risky for prices given the monopoly in that space. What they celebrate is that the country is a net exporter, and even that is a metric that might change with trade balances per time.

And @mikeapollo, your logic of importantion implying subsidies is flawed.
It's not importation that spells subsidies, it's pump prices. There's currently importation without subsidies cos we're still buying at prices close to what's seen on benchmarks like Platt.

On the other hand the government could work on an arrangement with DR that would peg prices at #500 , that's when there would be subsidies and likely no importation.

So, subsidies are about prices not product source.

How you make correlations isn't quite clear atimes.

Streetinvestor2:
So if the do same performance. It will give like 3.6 billion
When u do the maths with 123 billion OS
You go see like #38 eps.if they decide to pay 50 % dividend it will be less than #20
Nice target

mikeapollo:
Why find excuses where no credibleexists?
So Nigeria now allows fuel importers to scout or look for ''sanctioned oil cargoes which trade at discounts'' to import into the country as standard products? Is that a sustainable and reliable way to source for critical products like petroleum? Only smugglers and shylock profiteers would do that, and such should not be allowed by govt. because it indirectly aids international piracy, bunkering, smuggling etc.
And again, it is criminal to import off-spec (dirty-fuel) into the country because of cheap price. Importation of petroleum is regulated and guided by health, environmental, quality and performance compliance requirements.

With the current crisis in the Middle East and price of crude oil globally, it is very unlikely for imported fuel of the right spec and quality to be cheaper than Dangote.

mikeapollo:
Why find excuses where no credibleexists?
So Nigeria now allows fuel importers to scout or look for ''sanctioned oil cargoes which trade at discounts'' to import into the country as standard products? Is that a sustainable and reliable way to source for critical products like petroleum? Only smugglers and shylock profiteers would do that, and such should not be allowed by govt. because it indirectly aids international piracy, bunkering, smuggling etc.
And again, it is criminal to import off-spec (dirty-fuel) into the country because of cheap price. Importation of petroleum is regulated and guided by health, environmental, quality and performance compliance requirements.

With the current crisis in the Middle East and price of crude oil globally, it is very unlikely for imported fuel of the right spec and quality to be cheaper than Dangote.

awesomeJ:
Where were you about 2 or 3 years ago when the entire country was subjected to fuel with excess ethanol? How did such fuel make it to pumps if the regulator had good enough QA?

And you have started delving into another matter, no one is saying fuel of the same standards (50ppm sulphur for instance) would be cheaper if imported.

What we're saying is that the regulator who issues the import license has no laboratory to check what comes in, so off spec products do indeed make it into the pumps, and that's why they're cheaper- cos they're either sanctioned or off spec or both.

awesomeJ:
You do realize there are sanctioned oil cargoes which trade at significant discounts. There are also cheaper off-spec (dirty fuels). When those get imported, they'll naturally be cheaper.

I don't think the government claims any ban on importation, that would be too risky for prices given the monopoly in that space. What they celebrate is that the country is a net exporter, and even that is a metric that might change with trade balances per time.

And @mikeapollo, your logic of importantion implying subsidies is flawed.

It's not importation that spells subsidies, it's pump prices. There's currently importation without subsidies cos we're still buying at prices close to what's seen on benchmarks like Platt.

On the other hand the government could work on an arrangement with DR that would peg prices at #500 , that's when there would be subsidies and likely no importation.

So, subsidies are about prices not product source.

How you make correlations isn't quite clear atimes.

mikeapollo:
.

I am not saying what you are saying is not true.
But these are not permissible as rational or reasonable excuses to be given by or in defense of the govt.
The govt. should not be allowing harmful products because it is cheaper!
Doing so (for whatever reason) would be an indictment of the govt. It makes the govt look bad, which I DONT WANT..

Streetinvestor2:
So why don't we see reasonable drop in fuel prices when we witness reasonable drop in crude price. And when we has small increase in crude price. The price in fuel goes considerably high
For instance drop in crude like 5 -10 dollars. You go se alhaji reduce 20-30 naira in fuel
When you see 1-2 dollars increase you go 30 naira increase in fuel

awesomeJ:
No one is praising the government for having slack oversight. I was only responding to @streetinverstor2's question as to why imported fuel could be cheaper despite the added logistics.

If you want to criticize the government, this lack of diligence would be one area to criticize, cos of the health and environmental hazards you mentioned, not to talk of potential expensive engine replacements for cars and machines.

A bigger area of criticism is perhaps insecurity.

That's my own perspective. I do not even have a voter's card, and this is not the only citizenship I hold, so I don't really care much.

rmx:
businesses and governments will buy from the cheapest sources available , it’s not a big deal , china and India buys some of this discounted oils , be it from Iran , Russia or wherever available , sanction is an American thing , not compulsory for everyone to bow to that narrative and not everyone is in agreement especially when there is significant gain to be made

rmx:
businesses and governments will buy from the cheapest sources available , it’s not a big deal , china and India buys some of this discounted oils , be it from Iran , Russia or wherever available , sanction is an American thing , not compulsory for everyone to bow to that narrative and not everyone is in agreement especially when there is significant gain to be made

mikeapollo:
It is a ''big deal''. Govt should not buy [/b]unlawful, illegal[b] or [/b]harmful products[b] and sell to citizens.
Don't mix or confuse govt with the actions of some unscrupulous gangs or businessmen.

mikeapollo:
It is a ''big deal''. Govt should not buy unlawful, illegal or harmful products and sell to citizens.
Don't mix or confuse govt with the actions of some unscrupulous gangs or businessmen.

toyeoye:
🔴 UBA extends its slide to a 5-day losing streak, down 4.44% today at ₦43.00.
The banking heavyweight has now erased most of its 2026 gains, trading just a few naira above its 52-week low of ₦34.25 and almost back to where it started the year.

rmx:
Mentioned sanctioned oil , who determines if it’s illegal or unlawful , that it is unlawful to Americans should not make it unlawful to the rest of the world . I rest my case