Eriokanmi:
I'd urge dangote to leave these thieves to continue to milk Nigerian masses who gullibly voted them in power. They deserve what they're getting. Dangote should consider exporting his products to other countries who are interested, hoping they'd not kill him with export duties.

Now I'm vindicated. The reason NNPCL stood as an intermediary was to block the masses from knowing the exact amount the petrol that was being imported and their subsidy scam. How can you be importing petrol when there's a glut in the Dangote refineries? This is a major reason no investors will ever come here. If they could be frustrating our own like this, then it's not safe to invest in Nigeria where an individual's interest supercedes that of a nation.

How can you own an oil company that imports petrol and still be minister of petroleum and the president of a nation same time? Sadly other tribes won't say tinubu is greedy and a bad leader, they'd definitely generalise it on all yorubas and that's my concern. He gives no hoots.

Well said

OYEDIPE:

Tell your FG to let it be.

Is the fg holding down dangote from operating?

TEYA:

Asides importing cheap substandard petrol, the main kill for nnpc rogues and IPMAN rogues is that they want to be the ones telling Nigerians the volume of products imported/consumed. They want to sneak subsidy back!

You don get bro ... there are so many cover ups these rogues enterprise called Nnpc & marketer dont want Nigerians to know

1, Should Nigerians consume dangote fuel only .. they will observe a differences and it will expose Nnpc in bad light

2. With Dangote refinery there will be reciepts and record that can give a clear speculation of Total consumption per day

3. Imagine importing chinco Lg tv and selling it at fouani price, imagine the mad profit that is what those useless marketers stand to lose should dangote have the market.

Nigerians are mostly penny wise, cos we love cheap, 2 litres that is suppose to last 4hrs in your gen barely last 2hrs is that not pound foolish at the end.

If we must curb Monopoly our national refinery is the answer to everything, cheap, naira gain, employment, health competition

OYEDIPE:

This is not a platform for political cheap points. We are discussing pure economy here.

Indeed. Where were you in August when dangote said he'd sell direct to the public and cheaper, before NNPCL rushed in to stop him and said they'd be the one to dictate the selling price and take over the downstream aspect? Before they did, they first rubbished the quality of his products in order to frustrate him, after which he invited government officials to his lab to see results of the one imported by the nnpc and his own. Google is your friend. Same FG frustrated him on local crude supply before he headed for the US. Later after they saw that dangote had outsmarted them on that, they now said ok, they'd supply crude to him locally and kept him waiting endlessly.

Amid the government's continued frustration, dangote had to voice out that a top government official owned a blending facility in Malta and the pressure mellowed after he had said this cos they knew he'd expose them all. Kaka keku ma ǰę sese, a fi shawadanu ni. It's a wise adage and they now brought up a decision of taking over the downstream aspect and sold to Nigerians at a ridiculously high price which angered dangote. The nnpc in order to keep frustrating him, said dangote can't meet local demand and they'd apppont 3 importers...true or false? Dangote now showed them proofs that he even had more than enough to supply to the market

Again, where's the port harcourt refineries they lied to you 3 times would soon commence operations after which they said the TAM had failed recently? Suffice is to say, I'm also relevant in the sector as a service provider . Illiteracy of the mind is the worst of all diseases, which only the affected can cure . Political chap points you said, hun? We're in it together.

djon78:


I personally believe that if the pricing is good whereby Dangote fuel is cheaper

Importers will be run out of town

But if Dangote s price is higher
The importers will take advantage of that

That's normal practices anywhere else in the business world

Thats what they are doing. Importers with hidden agenda are now taking advantage of the price Dangote is selling. In a country where we have been crying that we don't produce anything. And some people here don't mind, all what they want is cheap fuel, whether good or bad.

Eriokanmi:
Indeed. Where were you in August when dangote said he'd sell direct to the public and cheaper, before NNPCL rushed in to stop him and said they'd be the one to dictate the selling price and take over the downstream aspect? Before they did, they first rubbished the quality of his products in order to frustrate him, after which he invited government officials to his lab to see results of the one imported by the nnpc and his own. Google is your friend.

Amid the government's continued frustration, dangote had to voice out that a top government official owned a blending facility in Malta and the pressure mellowed after he had said this cos they knew he'd expose them all. Kaka keku ma ǰę sese, a fi shawadanu ni. It's a wise adage and they now brought up a decision of taking over the downstream aspect and sold to Nigerians at a ridiculously high price which angered dangote. The nnpc in order to keep frustrating him, said dangote can't meet local demand amd they'd apppont 3 importers...true or false? Dangote now showed them proofs that he even had more than enough to supply to the market

Again, where's the port harcourt refineries they lied to you 3 times would soon commence operations after which they said the TAM had failed recently? Suffice is to say, I'm also relevant in the sector as a service provider . Illiteracy of the mind is the worst of all diseases, which only the affected can cure . Political chap points you said, hun? We're in it together.

This was when they had an agreement, but now, turns of event have overshadowed it.

OYEDIPE:

Have you asked how much they are selling bags of cement in Benin. An economy with lower buying power. Make your findings.

I dnt stayb/live in BENIN. DANGOTE got his raw materials here.Why he wan squeeze our balls/neck is what I dnt understand. I'm tired of reading any stuff about DANGOTE. Even those peepz that inherited 1944 🏠 from their parents dey increased house rent citing cost of building materials .

OYEDIPE:


This was when they had an agreement, but now, turns of event have overshadowed it.

Turns of event like...?pls explain. I visit dangote refineries 2 times in a week and I can tell you all the goings on in that place

OYEDIPE:


Thats what they are doing. Importers with hidden agenda are now taking advantage of the price Dangote is selling. In a country where we have been crying that we don't produce anything. And some people here don't mind, all what they want is cheap fuel, whether good or bad.

Which hidden agenda again because the case of imported fuel been cheaper is completely unfounded as the price of the fuel downstream has no reflection.

And if the nnpcl the oversite regulatory is saying that the imported fuel is ok then where are you getting the report of substandard fuel

Chukwumagordian:
I no understand again oh... I thought NNPC said fuel importation has ended?

No, it has not. Marketers are now allowed to import.

MaziObinnaokija:
I dnt stayb/live in BENIN. DANGOTE got his raw materials here.Why he wan squeeze our balls/neck is what I dnt understand. I'm tired of reading any stuff about DANGOTE. Even those peepz that inherited 1944 🏠 from their parents dey increased house rent citing cost of building materials .

As in dangote just use shock pattern and now the importers dey follow run pattern
And price never come down na waow

Aprocco:
Refiners Association AKA Dangote Refinery would have to stick to their roles as individual sellers and Allow the regulators play their role as well as afford the other sellers the peace to compete.

Very fundamental to deregulation is- All sellers are looking for highest prices while we buyers are looking for lowest price. Until IPMAN boycotted Dangote he refused to reduce price, calling competition substandard, saying he benchmarks International price rather than his cost of production.

Like Cement, PMS would reach ₦5,000 and Camels would ply 3rd Mainland bridge if we allow a Dangote monopoly.

Providing low or substandard quality is that what competition means to you.

As much competition is sancrosanct, standard must be enforced for all players only then we can have a good competition.

yarimo:
It's business anyone that can import should do so , isn't that simple? If dangote products is more cheaper nobody will import anything

If Dangote product is expensive, let them say it ans back it up with the figures involved. It could be a case of selling crude above intl market price to dangote and dangote selling a corresponding high price of refined crude.

chidiokay:



Providing low or substandard quality is that what competition means to you.

As much competition is sancrosanct, standard must be enforced for all players only then we can have a good competition.

Which regulatory body enforces the quality of fuel in Nigeria

baralatie:

Which hidden agenda again because the case of imported fuel been cheaper is completely unfounded as the price of the fuel downstream has no reflection.

And if the nnpcl the oversite regulatory is saying that the imported fuel is ok then where are you getting the report of substandard fuel

which yeye regulatory ... is it NDMPRA that dont have quality control lab or you can paste an address if you know of one

Same Nnpc that bought bad fuel into the country sometimes ago and fail to take responsibility is that the people you trust

They know Nigerians are very gullible, just mention "Monopoly and dangote in same line and Nigerians are triggered

Eriokanmi:
Indeed. Where were you in August when dangote said he'd sell direct to the public and cheaper, before NNPCL rushed in to stop him and said they'd be the one to dictate the selling price and take over the downstream aspect? Before they did, they first rubbished the quality of his products in order to frustrate him, after which he invited government officials to his lab to see results of the one imported by the nnpc and his own. Google is your friend. Same FG frustrated him on local crude supply before he headed for the US. Later after they saw that dangote had outsmarted them on that, they now said ok, they'd supply crude to him locally and kept him waiting endlessly.

Amid the government's continued frustration, dangote had to voice out that a top government official owned a blending facility in Malta and the pressure mellowed after he had said this cos they knew he'd expose them all. Kaka keku ma ǰę sese, a fi shawadanu ni. It's a wise adage and they now brought up a decision of taking over the downstream aspect and sold to Nigerians at a ridiculously high price which angered dangote. The nnpc in order to keep frustrating him, said dangote can't meet local demand and they'd apppont 3 importers...true or false? Dangote now showed them proofs that he even had more than enough to supply to the market

Again, where's the port harcourt refineries they lied to you 3 times would soon commence operations after which they said the TAM had failed recently? Suffice is to say, I'm also relevant in the sector as a service provider . Illiteracy of the mind is the worst of all diseases, which only the affected can cure . Political chap points you said, hun? We're in it together.

I love this post.

Honestly we’ve always known NNPC and their shenanigans so I’m not surprised at the way they are acting. Initially, I was annoyed with Dangote for being opaque about their pricing and what not. But I believe that they have revealed their pricing and they also claim that Nigeria’s
premium crude which they have to buy is one reason for the high rate.

The elephant in the room in my opinion is NNPC that initially claimed that Dangote PMS was substandard and other funny things they were doing to ensure they didn’t lose a grip on their “business.” Not only them but the government that turns a blind eye and pretends that nothing is happening.

baralatie:

Which regulatory body enforces the quality of fuel in Nigeria

Thats is suppose to be the primary duty of NDMRA but they dont even have a test lab ... they connive with rogues in oil sector to milk Nigerians

Nigeria Spends N3TN To Import Petrol In 42 Days, Despite Local Refining By Dangote.

Why is Tinubu importing fuel when Nigeria cannot pay for it. The national budget for 220 is currently $30 billion.


https://www.youtube.com/watch?v=tq-tXD6I2xs&t=1s



https://www.youtube.com/watch?v=w7W36WjI1VY

Lookmun:

I love this post.

Honestly we’ve always known NNPC and their shenanigans so I’m not surprised at the way they are acting. Initially, I was annoyed with Dangote for being opaque about their pricing and what not. But I believe that they have revealed their pricing and they also claim that Nigeria’s
premium crude which they have to buy is one reason for the high rate.

The elephant in the room in my opinion is NNPC that initially claimed that Dangote PMS was substandard and other funny things they were doing to ensure they didn’t lose a grip on their “business.” Not only them but the government that turns a blind eye and pretends that nothing is happening.

The buck stops with Tinubu. He has left the position of Miniter of Petroleum Resources vacant so that he can continue with ambiguous corruption. If Nigerians don't remove Tinubu now there will be no Nigeria to save in the next 12 months.

Their evil days are numbered

djon78:
✓ I personally believe that if the pricing is good whereby Dangote fuel is cheaper
Importers will be run out of town
But if Dangote s price is higher
The importers will take advantage of that
That's normal practices anywhere else in the business world

The Problem is Fuel subsidy.... Is Nigeria still paying fuel subsidy?

Ringstonermasks:
Let dem import since Buying from Dangote only makes price to go up

The Problem is are we still paying fuel subsidy for fuel in Nigeria?

“Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” -Dale Carnegie

saasala:
Do these people understand that they are killing the Naira with this sh1t?

So long as Nigeria is not paying Fuel subsidy there is nothing like Killing the Naira. However, it seems Nigeria is still paying fuel subsidy.

Dangote now has to borrow dollars to import crude oil for his local refineries. NNPC has destroyed Nigeria oil producing industry, they have no crude oilto sell to local refineries because they have a mortgage the crude oil fo the next 5 years

Dangote seeks billions to boost crude supplies at new Nigerian refinery
Africa’s richest man in talks with international banks for funds as he sets sights on ending country’s reliance on impo

The industrialist is in talks with commercial lenders, development banks, oil traders and other industry participants to raise funds for crude supplies to turn into refined products, according to people familiar with the matter.

His company Dangote Industries has bought crude from the US and Brazil, and in July was in talks with African suppliers such as Libya and Angola, according to Devakumar Edwin, a senior executive at the group.

Africa’s richest man needs to secure more crude to reach the refinery’s capacity of 650,000 barrels per day for a project he has said is a “game changer” for the country.

https://www.ft.com/content/27ccee49-490c-4657-a700-8ebc4fd8d45e

Maobichek:
✓ Dangote should do the needful (bring his price down since he is buying in Naira) and stop complaining, we all saw what he did with cement(monopoly cant work in fuel) .

The Problem is Fuel subsidy.... Is Nigeria still paying fuel subsidy?

eni123:
With three refineries, I feel ashamed that Nigeria is still importing fuel.

Importing of fuel is not wrong. The Problem is Fuel subsidy.... Is Nigeria still paying fuel subsidy?

Nawa o.
So so anger and insults in every thread today.


Make I go another thread.

chidiokay:



Providing low or substandard quality is that what competition means to you.

As much competition is sancrosanct, standard must be enforced for all players only then we can have a good competition.

You don't need much education to know NUDPRC, the regulator is the only body that can grade a product substandard. Stop echoing a Monopolist' sentiments.

Dangote has gone to President, NASS, Court to
compel NNPC, NMDPRA and Major marketers to buy from Him because he still has 500 million litres unpatrinized. So it's clearly, CLEARLY not about substandard quality but Monopolistic intent

Re-orienting Dangote is a community project- That his role in a Deregulated Market is not to grade products of his competitors, fix their prices or legislate compulsory patronage. All he has to is to make his own product competitive.

Kobojunkie:
So long as Nigeria is not paying Fuel subsidy there is nothing like Killing the Naira. However, it seems Nigeria is still paying fuel subsidy.

If your imports are higher than your exports, you are killing the Naira. If Nigerian local PMS, Diesel, Cassava, and Cocoa are valued in Naira, then there will be a demand for the Naira due to the demand for Nigerian products.

Nigeria and Nigerians are presently selling Naira to buy dollars, and that is now negatively impacting the Naira. The solution is to reduce import and increase export.

How Russia rescued the ruble

Russia said last week that it wants the European countries that buy its natural gas to make their payments in rubles, rather than dollars or euros. A month ago, that might have seemed like a pretty good deal: The ruble was down 40%, at 139 rubles to the dollar, in the wake of Russia's invasion of Ukraine.

Since that low point on March 7, however, the Russian ruble has staged a dramatic recovery. At the time of this writing, it was trading at 84 to the dollar, which is right back where it was at the time of the invasion. And this is no dead cat bounce. It's a sharp and sustained recovery that made the ruble the world's top-performing currency in March.

Yet all the sanctions imposed when the war began are still in place, and in some cases they're even more robust. So how have the Russians managed to revive their currency?

https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble

Richtaiwo:

What will my worries about that change? I'm not a Lagosian, why should I bother about how Lagos fund was spent when there are plenty Lagosians to bother about that?

This is the difference between others and your ilk. You are s byo much fixated on other states that you are not even bothered about your own state. A prominent man was just kidnapped in Anambra, I'm sure you are not even aware let alone get bothered. But here you are, getting disturbed about how $100m belonging to Lagos was spent.

...a deeply concerned self appointed æffõnjã minister of Igbo affairs 🤣🤣🤣🤣🤣🤣🤣

sulaak:
✓ If your imports are higher than your exports, you are killing the Naira. If Nigerian local PMS, Diesel, Cassava, and Cocoa are valued in Naira, then there will be a demand for the Naira due to the demand for Nigerian products. Nigeria and Nigerians are presently selling Naira to buy dollars, and that is now negatively impacting the Naira. The solution is to reduce import and increase export.

Nigeria's imports have been higher than the exports for over 40 years and it had not to blame on PMS imports in all of that period so let's dead this path you are attempting to head in with this.

Again, importation is not a problem. Rather the problem that Nigerians should focus primarily on is whether the imports are subsidized by the government or not.