₦airaland Forum

megawealth01:
NNPC Retail Outlets Adjust Pump Price To ₦998/Litre In Lagos, ₦1,030 In Abuja


https://www.channelstv.com/2024/10/09/nnpcl-sells-petrol-at-%e2%82%a6998-per-litre-in-lagos-%e2%82%a61030-in-fct/

https://dailytrust.com/dangote-refinery-independent-marketers-adjust-pms-price-to-n1200/#google_vignette

Now we should have some stability based on current rates , almost same with deregulated diesel , where they were going to all along , dangote 💪🙌

ositadima1:
Give it time; the price will come down as the exchange rate drops, Shebi one analyst said that 1,000 naira per dollar is the the sweet spot , Also, the pressure on dollar reserves will ease, and hopefully, crude production will increase to offset the dollar lost by selling part of it in naira. I believe in the next six months to a year, we will see the naira appreciate.

I pray so ,for the sake of Nigerians , but I have been operating long enough to know the probability of this happening is low

Agbalowomeri:
The argument is to allow free market. With good competition, price can trend downwards if international crude prices crash

Free market dictates petrol prices to be higher , subsidy was distorting it , but people expecting prices to be lower and dangote to be the savior at the current exchange rate don’t know nothing about business or economics ,just look at the price of deregulated diesel by both dangote and importers , waiting for price to crash is wishful thinking also , just use the average for this year , and that’s around 75$ or so , at that price , it can’t be less than we have it now

pluto09:
Oil is benchmarked in dollars.
Any arrangements that will bring down the price of petrol when price is still high at international market and the naira keeps losing value will involve subsidy

Said all this before, read my past comments , the determinants are oil price and exchange rate , exchange rate even more , oil price is at not at highest this year , check the charts . The point is people expecting prices to come down by dangote were living in hopeville , should be very clear to them by now

megawealth01:
Our refinery was built without any government incentive – Dangote 

https://nairametrics.com/2024/10/08/our-refinery-was-built-without-any-government-incentive-dangote/

https://nairametrics.com/2024/10/09/again-nnpc-raises-petrol-price-in-lagos-abuja/

Petrol prices have gone up today again , yet crude supply is now in naira , game wey clear since

chillykelly86:
The actual thing to do is for NNPC to also reveal how much they are paying for PMS imports currently (since 16.8 million litres purchased from Dangote Refinery isn't enough for local consumption). NNPC is just trying to put DR on the spot vs Nigerians. You import at over #1,100/litre and subsidize it to sell at circa #840. Then you buy a better quality of the same product at less than your import price but because you don't want DR, you prefer not to pay a lower subsidy so that you can keep importing in order to pay a higher subsidy. The problem is that we don't seem to see through what they(NNPC) are doing.

https://www.youtube.com/watch?v=DUFXP3V9k7M

Like I said before all so basic , exchange rate is the Koko , subsidy is still there even with purchase from dangote either its the current purchase or the ones that will start next month , dangote knows what he is doing , he is no messiah and rightly so ,I would do same as a businessman , it should be very clear to you from the video , once you take away emotions and sentiments from economics things become very clear

As par landed prices by nnpc which depends on oil price and exchange rate , information abounds on what it is , I do agree however there has been corruption over the years on quantity of fuel imported by nnpc and opaqueness in landed price because of subsidy payment

https://punchng.com/petrol-landing-cost-drops-to-n981-litre/?amp

kopell:
Congratulation bro, many blessings

Thanks boss

Provide me soft landing , Make I relocate come meet you for yonder , Nija Dey hot

twinskenny:
Good one

Akala road ?

Akobo now

Una well done here o

Done and dusted

There is pain everywhere but we move , heard dolls is at 1700 , it is well

KarlTom:
Please do.

We await update...

2.90

people should do there DD .

Omooloriredade:
You could take the above to the bank until the meeting at the farm happened. Apparently, CBO still has more shares to offload but rather than let it drag on for too long (tight band above N3), arranged an investor presentation with stockbrokers only. How is that even allowed? Next trading day after meeting, SP starts to climb with huge volumes. It's not dumping. Ellah Lakes is attempting to meet free float requirement by distributing its shares. CBO and Brokers will determine how the stock trades until there is significant news. They believe it's cheap due to its higher Net Asset Value per share and the what has been achieved so far on the "audio" farm. Na them sabi.

Roll call of attendees below. [/b]Did anyone's face look familiar? [b] Would someone be kind enough to find out the Private placement price please?

I know Ellah Lakes directors opted for a portion of their salary in shares. Bullish!!! Quite a positive except that Mr Chuka is on a very FAT salary for a company with little to no revenue. Anyway, the future appears bright so can be overlooked.

Disclaimer - Not a buy or sell recommendation.

Interesting , one of the guys there personally trades an account I have with them , not spoken or asked about the acct this year ,he might have bought Ellah lakes with this visit , will ask him

chillykelly86:
The actual thing to do is for NNPC to also reveal how much they are paying for PMS imports currently (since 16.8 million litres purchased from Dangote Refinery isn't enough for local consumption). NNPC is just trying to put DR on the spot vs Nigerians. You import at over #1,100/litre and subsidize it to sell at circa #840. Then you buy a better quality of the same product at less than your import price but because you don't want DR, you prefer not to pay a lower subsidy so that you can keep importing in order to pay a higher subsidy. The problem is that we don't seem to see through what they(NNPC) are doing.

My final thoughts on this

The era of importation of petrol and subsidy corruption is almost gone , the nnpc and cartel can’t be happy , the reason they are also trying to show Nigerians clearly that dangote is no messiah and he is the one profiting now from the current arrangement , out of spite and pain , but baba / dangote no wan cast in the eyes of Nigerians too

I do not expect petrol to go back to previous rate of 600 , that era is gone for good without subsidy and without exchange rate coming down . we will be lucky to get 800/900 , time will tell . October is around the corner

Agbalowomeri:
Has the government hands off from PMS? The company also has to be diplomatic. At least they both agreed now that Dangote Refinery has yet to receive the crude promised in naira which is the hidden information that the NNPCL did not provide

Once more, and we are talking current supply ….., not October

The current refined petrol nnplc bought is gotten from the crude dangote imported or purchased in dollars , dangote sold in dollars to nnpc consequently , nnpc converted to naira at 1637 and its 898 , they have added other cost to arrive at 950 for lagos etc

Dangote should come out and tell us I did not supply to nnpc at 690$ /tonne and 46$ / tonne premium for this current supplies

When they start selling crude to him in naira , another costing will be done then in October but for now the above applies , I think it should also be obvious why there is this contention between dangote and nnplc , it’s not for the benefit of Nigerians , it’s because power has changed hands 😊😊

Agbalowomeri:
Una just dey hate for nothing
The pricing is entirely on NNPCL plate. From the statement made by the company, it is obvious that NNPCL was only truthful by half.

Hate ke , loving his moves , it’s the move that gullible Nigerians believe , I don tell una reality

He should come out and state the Price he sold to them if it’s a lie . Very simple , don’t we know the price he sells diesel , aviation fuel etc .

I tell people i bought from you 1 naira and provide my evidence , you say No you dint , then tell us how much you sold it and your evidence . All So basic . I sign out on this

Mpeace:
The relationship btw Dangote and NNPC dob spoil finish.
https://www.nairaland.com/8214188/dont-mislead-nigerians-dangote-denies

Dangote is trying to be smart by half and not look bad to Nigerians with the high price . He said absolutely nothing in that statement

Simply tell us what price you sold to nnpc , you sold to them in dollars , won’t it be converted to naira for consumers to buy in Nigeria

Probably waiting till October when he receives crude in naira , even at that, pricing might just be slightly better . The exchange rate is the Koko , that determines everything . All this things are simple basic economics , except there is a subsidy element

Will love to be in dangotes shoes , his feasting has just begun

floshady02:
@raymondFirstborn you guys are just bringing yourselves down on this thread. What potential client would read all these allegations and still want to patronize y’all. Na wa ooo

My thoughts exactly

Humbro:
I think your post is misleading by saying plasterboard ceiling is flammable and pop isn't . Plasterboard isn't flammable, polystyrene might be flammable but not gypsum board ceiling. Gypsum board/drywall/plasterboard ceiling can be installed anywhere in the house and it's highly safe . Plasterboard ceiling is never flammable, you try and get the right information before coming up in the open forum to share it. Both pop ceiling/casting ceiling and plasterboard is made with gypsum.and plasterboard ceiling is equally covered with gypsum during screeding. Plasterboard ceiling is non combustible. Polystyrene itself is flammable but not Gypsum Board Ceiling or plasterboard ceiling. Whatever that can affect plasterboard can affect pop . Plasterboard is a better choice than pop in terms of easy and fast Installations, water resistant level, low maintenance and repairs . But pop ceiling has better designs than Plasterboard. Plasterboard ceiling is a better choice than pop ,just that plasterboard is more expensive . And equally there are 2 different types of plasterboard the green board and the white board . The green board is meant for toilets and baths , for its high water resistant but white plasterboard is meant for other places in the home for it lower water resistant but it has better water resistant than pop ceiling.

You did justice to this , could not have said it like this as no be my field , both are from same material obviously .i know plasterboarding is better , reason I use for my projects . Each to his own

Can’t compare the lines from plasterboarding to pop

Rawgold300:
😂 fair enough, am not doing the exact same design … I will discuss other designs with the person if given the number..

Lemme show you some of the designs I saw on YouTube

Just joking . Akeem 0806 553 2512 for external you can use 6 or 8 mm cement board . Will be cheaper

Another work in progress

Rawgold300:
Good morning RmX, can you help with contact of the person that did your exterior cement board design please. Am thinking of doing similar design in my project

I Don copyright that design , you must pay me

Nah my signature be that now

PrimeQuay:
Can you share a cost estimate as of today per sqm for POP Plaster boards and cement boards?

Thanks

won’t be able to do the actual calculations , can however connect you to the installer and where I purchase materials , between them they can give you an accurate estimate . You can also get at jibowu if at lagos

A board of 12mm plaster board 1.2x3 m should be around 15/16 k , 10mm cement board 1.2 x 2.4 m is around 18/19k , then you have accessories and labour

diordaves:
Now I think I got you. Of course plasterboard is cheaper per square meter than cement board. So this is even a better argument against PVC and Polystyrene ceiling.

However, plasterboard MAY not work out being cheaper than cement board as cement board is a factory FINISHED product near plug and play - screw it up, joint it and paint.

But with plasterboard it is prone to moisture and damp and water damage. So plasterboards must be protected from water damage by skimming over it (screeding)/plastering before painting. This process might just even out the cost differential or even add more.

I have not used plasterboard ceiling solution in Nigeria before. This is something I will need to crunch the numbers in my coming project to see if it works better for me than cement board in certain situations.

You use "POP board". Just to be clear, you mean actual POP boards and not plasterboard? Is that right?

Meant plaster board , the one that comes in 1.2 x 3m , thought they could be used interchangeably

Meanwhile same screeding treatment is given to both the cement board and plaster boards in all my projects, since all walls are screeded anyway before painting . Attached is another pix from a project last year .you can see the cement board was screeded , added another use I put cement boards to

diordaves:
Cement board are not the right solution for an industrial project such as yours. POP boards as you would know are the right solution. For residential (home) projects, fibre boards are effective alternatives to installed POP at a fraction of the cost.

Do commercial not industrial, those pictures are cement board wall partitions for office , eatery and bakery space in an open floor space for a supermarket , with pop boarding for ceiling . The most appropriate solution if you don’t want to do block works after all tiling and other civil works has been completed

My point still stands that cement boards are more expensive than using pop boards either for ceiling or for wall partitioning or for basically anything . I know cos I use both regularly .Maybe cheaper outside Nigeria

Been long I was here , I hail all men still spending on projects . Ko easy

diordaves:
Yes, there is also the option for plaster board and gypsum board. Materials wise, plaster board and gypsum board are the same thing to be honest. It is just nomenclatures and semantics. But cement fibre board are remarkably different. These are FINISHED products that offer quick, simple installation.

With cement fibre board, all you need do is your nogging. Take your fibre board and screw it (or follow the manufacturers' recommendation) to your noggings. Joint it and then paint with your choice of colour. Shikena!

Fibre cement offers a quick simple installation at a fraction of the cost in relation to POP installation and gypsum/plaster board. Two people working can complete ceiling boarding a standard 3 bedroom bungalow in one day ready for painting.

Wont agree to the last paragraph , cement board more expensive . Been using both for all my projects for years . Installation is basically the same for both , Pop boards comes in 1.2m x 3 m , cement boards come in 1.2 x 2.4 meter yet more expensive , likely 30 to 50 % more , don’t do wood , use hanger ,profiles , angles , screws , etc

Use cement boards for wall partitioning since they are stronger and sturdier while pop boards for ceiling .pix from an ongoing project

EgunMogaji2:
Oga mi, is that your presence at Teslim/Oluyole?

The building has your fingerprints

Close to sharp corner you mean , not me

With one at ring road and akala , no need

Na Akobo get me now

thebargainhunte:
What we experienced all these months is stock repricing due to devaluation not bull. NGX has been on decline mood since 2014 due to excessive devaluation. Imagine someone that invested in zenith bank stock in January, 2020 and he left his investment since then till now, the person must have incurred loss due to devaluation. Zenith bank closed at #21.15 on 28/01/2020 and our exchange rate was #305.9 to a dollar on that day. For the investor to recoup his capital value now at #1500 to a dollar, zenith bank should be trading between #80-#103.Our stock market was better during the time of Obasanjo, we had the biggest market capitalisation during his regime, then followed by Good luck. I think NGX might have the best capitalisation in this present government if they could bring down dollar to #800. I see zenith bank between 80-100 from now to January 2026 Below image is graphical representation of NGX capitalisation in terms of dollar.

Putting things in perspective , even the value of the ngx and stocks can be referenced in fcy

Why is reference to dollars so important , simply because it’s the number one currency for global trade and exchange , the most convertible also , it could as well be shown in any other stable currency that is widely accepted like euro , pounds , yuan , yen , Swiss francs etc , they are all a somewhat stable medium of exchange , another way to look at it , is foreign exchange intstead of just usd

One of the reason we reference foreign exchange is because it affects our purchasing power and even wealth standings , the reason a bag of rice is 80/85k today is because of devaluation and inflation even compared to ordinary cfa franc of benin Republic where a lot of rice is smuggled from . Why has prices of most goods and services gone up by 100 to 200 % since may last year since we only spend naira and references to foreign exchange is not important as some claim out of blissful ignorance ? .

If our individual revenues are static compared to devaluation and inflation , we are not in a good place . Even companies we follow on the nse constantly reference foreign exchange in there profit or loss reports , and most have increased prices of goods and services to reflect this increase in cost of fx .

BlissGod:
There is an economic crisis in Nigeria and the worst thing you're advising here is just putting fears on people with naira, Tinubu is clearly clueless about governance. But we don't need panic here please, let's be constructive with reasons, some of us are beginners in this trading stuff. Please give us reasons feasible reasons we should hold on for now. I hope you understand my point.

Apologies if my post made you fearful , it was a response to a question on an alternative asset class . Information abounds in the public space on the current economic crisis for people to make there conclusions . investments in manufacturing, retail , importation and real estate allows me to have a better overview of the economy . I still generate my revenues in naira .i wish everyone well

Let’s return to the business of stocks

Agbalowomeri:
Does it really make any sense converting dollars to invest in stocks at this rate?

Loads of uncertainties in the economy , you can begin to feel the desperation and helplessness . Does not look like naira has bottomed out yet , more pain is definitely coming

Exited the markets January . Am back in dollars with my gain awaiting opportunities in other sectors , principal deployed to real estate . I wish dividend people well

rotecch77:
I said it here some weeks back that it’s not every project I quoted and charged with materials this time, some people thought I’m too proud, No No No bcs I can’t be explaining every time about increments every now and then .. o wrong now.

Just like STEEL ROOFING am doing now on one of my ongoing project Only STEEL cost me about 13M.
If you no get money no try steel roof ooo

Just learnt tiger tmt is 1.1m par tonne now , there is fire everywhere

You need Steel roof when you want a wide open space without pillars, it’s not optional then , my ongoing project

folmus:
Wisdom is replete in this for those who understand the system. I have saved lots of money from cables I bought.

Am always amazed at people that wait or procrastinate when it comes to anything that has to do with purchases in Nigeria , once you have the money buy , even if it’s to keep at the trusted seller place with his permission . except your income is in fcy . Nothing has ever taken me by surprise in Nigeria in the last decade when it comes to such things

money121:
Learn how to refund money back to client if he or she is not ready to add to it, reason why i keep surviving in this roofing Business kogba Kodija i can't count countless of Millions have refund back, i don't force it👌🏾💯

Have an ongoing new project that is turnkey minus certain items I had purchased months back , wires , pop boards, acs , tiles . My contractor is already complaining His wahala . Am beginning to like this no stress approach to projects