mapet:


It won't make much significant impact. Dangote is not the owner of the crude, he will buy them at international price rate (ex other costs) refine and sell at a margin.

He would be cutting off.. export and import cost since vessels would be berthing at the refinery jetty.

Esseite:


He would be cutting off.. export and import cost since vessels would be berthing at the refinery jetty.

Yes, that is what I mean by "other costs", but (rough math) lets assume all logistics cost is ~15%, landing cost today is ~#230, in a PIB world Dangote will sell petrol at about or more than current price. Also note that Dangote has heavy loans tied to the Refinery and if the moratorium period is over, he'll be under pressure, so expect no form of subsidy from him....

The last straw that will break the camel's back ! Folks,be ready to buy a litre of petrol at #500 per litre and multiply the current prices of all other commodities,including transport fares, by 3 !

The change you craved for is here ! The crazy man in aso rock is very determined to skin and bury Nigerians alive !

Sai baba,awon were gbogbo !

Hmmm

Sundzr4e:
preparing the way for DANGOTE REFINERY,, ahhh, Fulanis agenda

For 14 years southerners were ruling this country and they had no serious agenda,who do you blame for such stupidity?

Sunnycliff:


You can always agree with me that proceeds from oil sells is not majorly used for oil subsidies. Other sectors of the economy requires financing from the oil sales. Now, we already know that Nigeria has a poor economy and its even getting poorer with high unemployment and hyper inflation, all thanks to Buhari economic policies.
To sustain the economy foreign reserves from oil earnings will be used to at least resuscitate the dying economy and stock up the depleting foreign reserves, also trying to push up the naira against the dollars to curb it from reaching #500/$.

All these will never allow subsidies on oil to hold and we are more likely to end up buying higher fuel pump price with rising oil prices. In all scenario, there's no benefits to the common man who buys fuel from the gains of rising oil prices.

All these can actually be reverted if Buhari sees the need as a Petroleum Minister to auction off the outdated refineries we have and build up a new one with state of the art facilities. $10 bn can give us something substantial that can save us from this deep poo of oil importation

Local refining will not substantially reduce the pump price of petrol except you want to create another regime of crude Oil subsidy to the refineries that would be fraught with fraud we were running away from.

Best case we save like 30 Naira per liter from transport cost. Instead of paying 400 naira per liter like in Ghana, we might pay 370 because we refine locally.

Except you want us to supply free crude oil to Dangote.
Crude oil is already 188 naira a liter before cost of refining to fuels, how can you now sell the products less than cost price of raw materials?

We are prepared to buy petrol at higher rate.

God no go shame and wicked us.

kissdabride:
And who is the cause of high exchange rate??this empty brain APC and prior before now buhari said it in 2015 that subsidy is a scam,APC govt led by buhari always make policy that inflict pain on the masses worst govt ever in the history of Nigeria-Anti peoples comfort A P C
Mallam stop supporting useless govt

So you expect a country to lose 70% of it's forex source in a few months and the currency value will be increasing? Is the demand for forex to import everything from a people that has nothing to export also a major factor? Build train to make our local produce sell more on foreign markets, you will say no. Eat local rice to preserve forex and reduce pressure on naira, still no.

But you want naira value to rise up magically. You will wait for when Oil will reach $250 a barrel since you will have 40m more Nigerians to demand forex by that time.

Esseite:
Fix up the refineries and kick start Dangote refinery before pulling out the subsidy.. that is suppose to be the cushion on subsidy..

I don't know why we think local production results in significantly lower petrol prices. Is crude oil not the same price globally? At best N280 per litre imported becomes N245 produced locally because of cheaper wages and no import logistics.

Bizibi:
let me just assume you don't know how much has been depleted so far under this administration.

They met foreign reserve at $29bn, it went as low as $26b after a few months. But with some policies it was rebuilt to about $43b. It later dropped to $35bn due to liberalised forex policies, pandemic etc.

How is that a depletion compared to Jonathan who met about $45bn and left only $29bn during the highest selling price of crude oil in history, averaging over $100 per barrel?

ogododo:
When oil be $100 dollar, na #87 we dey buy, but when less than $65, we dey pay above #160 per litre.
Lalasticlala.

Maybe we should pray that the price of crude should fall to three dollars per barrel since the high price has become a curse to us.

Ovamboland:


They met foreign reserve at $29bn, it went as low as $26b after a few months. But with some policies it was rebuilt to about $43b. It later dropped to $35bn due to liberalised forex policies, pandemic etc.

How is that a depletion compared to Jonathan who met about $45bn and left only $29bn during the highest selling price of crude oil in history, averaging over $100 per barrel?

coming from someone that supports buhari.... fucking pass!!!

Bizibi:
coming from someone that supports buhari.... fucking pass!!!

You're high on prejudice and low on facts

Ovamboland:



You're high on prejudice and low on facts

yeah,pass!!! Back and forth with a sycophant,no!!! Hell no.

Ovamboland:


Many don't understand, crude oil is already worth 188 Naira per litre before you add the cost of refinery, financing cost, like interest rate, staff salary, waste byproducts, spare parts, chemical inputs, distribution cost etc.

Seems these things are too complex for the average Nigerian to understand. All they want in petrol at 40 Naira anyhow, otherwise the govt is not working. That is why we'd be disappointed in the next and next president, whether from north or south.

Then what is your argument here?
Are you for or against what I just said?

amc:


When oil be $100, exchange rate was N180, but when oil is less than $65, exchange rate is N498. Do the maths, that's if you understand basic arithmetic.

.
I thought buhari once said he doesn't know what is subsidy?

Esseite:
Fix up the refineries and kick start Dangote refinery before pulling out the subsidy.. that is suppose to be the cushion on subsidy..

Did the idiot import rice or build a rice mill, or empower farmers before closing down the border? No it didn't ,

This your idea is nonsense to them

greatiyk4u:




Lolz, many ignorant peeps full here yet insulting the government on daily basis

Are u aware that if the prize gets to $150/barrel that fuel will be sold below 100Naira?

No time to coach you

Why not coach your oil producing country that doesn't have a functional refinery