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Nairaland Forum / Nairaland / General / Politics / FG To Sell Oil In Naira To Dangote Refinery (34205 Views)
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Re: FG To Sell Oil In Naira To Dangote Refinery by MISSCONGENIALITY(f): 7:11am On Feb 28, 2021 |
olatade:And you think government will want more dangotes? Do you think he's the only one that can do all these businesses he is sponsored to monoplise? 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 7:13am On Feb 28, 2021 |
udoka2013: As regards cement, other complanies got the same favour as Dangote. Lafarge, Ibeto, Bua et al. Plus a working refinery in Nigeria means less money and scarce dollars spent on importing the refined stuff like petrol Also the reason why there aren't more refineries added to the ten or more refineries under construction is that you Nigerians want government to keep on controlling the price of fuel which means anyone setting up a refinery will end up running it at a loss. That's the main reason why NNPC refineries are down. 3 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by Taich(m): 7:13am On Feb 28, 2021 |
9jaRealist: The Naira officially is the legal tender in Nigeria, but in reality some businesses run on dollars, oil is run on over 60% dollar, some real estate and schools in Lagos run on 100% dollars. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Ferdinandu(m): 7:14am On Feb 28, 2021 |
QuotaSystem:Did Dangote cement become a game changer. We are buying cement at ridiculous high price now but they said we are now self sufficient in cement production. Dangote monopoly may not even be better than Government run companies in the long run in terms of it's effect on ordinary Nigerians 5 Likes 1 Share |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 7:17am On Feb 28, 2021 |
MISSCONGENIALITY: Dangote is hardly monopolizing the cement industry with bua, lafarge, ibeto around. Also there are at least ten other refineries ujder construction and several other licences for refineries issued The problem is in the name of subsidy prices for petrol are kept too low for anyone wishing to set up refinery to refine at a profit. ( even some of the refineries coming up eg BUA refinery in Imo are refining everything but petrol because petrol is subsidized while diesel and kerosene and so on aren't) 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by slowice(m): 7:19am On Feb 28, 2021 |
olatade: Oga there are more dangotes but Dangote and fg are will kill brutally any one of them that raises up his head |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 7:19am On Feb 28, 2021 |
Ferdinandu: Cement costs high in Nigeria because 1. Bad power supply . 2. Bad road transport and lack of security 3. No railways which means higher teansport costs 4. Fall in Naira due to fall in forex to buffer it 3 Likes 1 Share |
Re: FG To Sell Oil In Naira To Dangote Refinery by HelpYourself(m): 7:20am On Feb 28, 2021 |
Igboarecriminal: Mods this account name is offensive Mukina2 seun dominique OAM4J 2 Likes 1 Share |
Re: FG To Sell Oil In Naira To Dangote Refinery by slowice(m): 7:20am On Feb 28, 2021 |
rawtouch: Hold who? Are you from France? Which word lol... OK, welcome to Nigeria |
Re: FG To Sell Oil In Naira To Dangote Refinery by Keemsleek005(m): 7:22am On Feb 28, 2021 |
QuotaSystem: God bless you and it's not going to be only dangote but all the refineries. I and someone still talked on these issue onbthese forum, when he said he doesnt trust d goverment on which currency, crude will be sold and i told him i pray it's in naira. Selling in dollars within nigeria will finally kill the economy and fuel willl still be expensive cos of d exchange rate. Let the game begin, these the time nigerians will enjoy and buy pms at lower rate even dpk and Ago will go down too. Very zine decision from the goverment. 3 Likes 1 Share |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 7:22am On Feb 28, 2021 |
GboyegaD: Gas companies dont want to sell to Gencos in naira Plus Discos due to not being allowed to charge cost reflective tarrifs in the power sector have a liquidity issue which already makes it difficult for them to pay for power |
Re: FG To Sell Oil In Naira To Dangote Refinery by Misterone: 7:22am On Feb 28, 2021 |
Emary:don't read with your privates. read with your brains. 1 Like 1 Share |
Re: FG To Sell Oil In Naira To Dangote Refinery by QuotaSystem: 7:23am On Feb 28, 2021 |
TheWrita: Indeed I am and this discourse is clearly above your pay-grade. Learn to contribute meaningfully next time. Swerve. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 7:26am On Feb 28, 2021 |
Emary: Importers importing fuel into Nigeria have always sold at a loss because of government mandated price controls . Government tries to cover their losses by paying them a subsidy If not, fuel would have been costing 200 naira since 2014. |
Re: FG To Sell Oil In Naira To Dangote Refinery by QuotaSystem: 7:27am On Feb 28, 2021 |
Keemsleek005: Indeed you're right on the money. God bless you too dear compatriot. 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by kingsley989(m): 7:29am On Feb 28, 2021 |
Igboarecriminal:Are you well at all? 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by Thelife: 7:29am On Feb 28, 2021 |
waiting for the fuel price to skyrocket just like the way he did to cement and any other goods that he venture into, only a fool will believe that dangote will subsidy fuel price once he start selling. |
Re: FG To Sell Oil In Naira To Dangote Refinery by 9jaRealist: 7:30am On Feb 28, 2021 |
Siberia01: cashinnaira: Refinery: Government-owned refineries, BUA, Waltersmith, Edo, Orient, etc. Cement: BUA, Ibeto, LaFarge (the world’s BIGGEST cement producer - has been in Nigeria since the 1950s/60s) Sugar: BUA, Flour Mills (Golden Penny), etc. Tomato Paste: GB Foods (in more than 50 countries worldwide); Tomato Jos, Ericso, etc. Abegi where is the “monopoly”?! > 3 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by Blackdisciple(m): 7:31am On Feb 28, 2021 |
But they sell to the west in dollars.. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Thelife: 7:32am On Feb 28, 2021 |
arsenal33: you mean after dangote have skyrocket the fuel price finish? we know how it work you fool. |
Re: FG To Sell Oil In Naira To Dangote Refinery by VictorUSA(m): 7:32am On Feb 28, 2021 |
I'm happy with this development! 2 Likes
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Re: FG To Sell Oil In Naira To Dangote Refinery by 9jaRealist: 7:33am On Feb 28, 2021 |
Godarz: Subsidies have been removed (allegedly). Dangote will buy crude oil and sell products at market prices. > |
Re: FG To Sell Oil In Naira To Dangote Refinery by 9jaRealist: 7:36am On Feb 28, 2021 |
Thelife: If that is the case, then it’s even BETTER for those other refiners... They can simply sell their own products cheaper and cannibalize Dangote’s market share. > 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by seunmsg(m): 7:36am On Feb 28, 2021 |
chatinent: You and the guy you quoted are very slow. Will Dangote sell to Nigerians in Naira or dollars? What’s the point selling crude to Dangote in dollar when he will be selling to Nigerians in Naira? How do we conserve scarce foreign exchange and improve the position of the naira if NNPC is to sell to him in dollars? It is also important you guys know that selling crude to Dangote refinery in Naira doesn’t mean selling to him cheap. He will buy at the naira equivalent of the price of crude oil at international market. 4 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by chrisxxx(m): 7:37am On Feb 28, 2021 |
BabaOwen:It is this division of state that has kept your state at pauper level. You limit your reasoning to the boundary of your state. See yourself first as a Nigerian and let your argument be in the defense of Nigerians. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nackzy: 7:39am On Feb 28, 2021 |
Does it Mean that Nigerian Government cant build a 10 billion Dollar refinery? |
Re: FG To Sell Oil In Naira To Dangote Refinery by cugardmalino: 7:40am On Feb 28, 2021 |
QuotaSystem:Nigeria has 5 not working refinaries and nobody is saying anything. We all are waiting for that one 1 man. Open your eyes and see that this country will soon be on motgage to Dangote. Also no forget say the 5 not working eats a whopping N10b monthly for maintenance. Na Dangote go soon buy all the 5 of them for N100. E no go better for our leaders |
Re: FG To Sell Oil In Naira To Dangote Refinery by 9jaRealist: 7:42am On Feb 28, 2021 |
chrisxxx: Abegi, what “foreign obligation” is that? That Nigeria should continue importing FOREIGN fuel and supporting FOREIGN jobs? Or that Nigeria should sell crude produced in Nigeria to a Nigerian company in FOREIGN currency? SMH > 2 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by seunmsg(m): 7:42am On Feb 28, 2021 |
Godarz: Subsidy has been removed already so that’s no longer an issue. However, allowing Dangote to fix prices as he wants should never be allowed. There must still be a price fixing regulation in place. The downstream sector is too critical to be allowed to exist without government regulation. Dangote refinery will be a monopoly once it start production so government must ensure at all times that consumers are protected. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Ghostrye: 7:44am On Feb 28, 2021 |
This Dangote just dey chop naija raw |
Re: FG To Sell Oil In Naira To Dangote Refinery by matthewkotin41(m): 7:44am On Feb 28, 2021 |
The governor, Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, who visited, Saturday, to inspect the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant. You should understand that the petrol, Kerosine and oil refining section is yet to be complete o. Don’t expect cheap petrol in 2022 |
Re: FG To Sell Oil In Naira To Dangote Refinery by MrEndowed1: 7:46am On Feb 28, 2021 |
Selling crude to Dangote in Naira, yet GAS is sold to the GENCOs in dollars. |
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