DenreleDave:


E get sense pass you and ur geee


Reno is far Knowledge than everyone in ur fy


Bcox he doesn't support ur candidate, don't deny the fact

Oga why not just shush this mouth of yours.

Realtruth2023:


When they use crude oil for repayment of loans the future contract for crude oil sale wasn't considered ooooo. This your comment is not smart, OPEC quota is for production to ensure that the price is controlled due to controlled demand so that the cartel members reap maximum benefits from the sale, even as we speak Nigeria has not met its quota in 3 or 4 years now due to oil theft. The question is what are the details of a future oil sales contract that Nigeria made and at what price? What was the price of crude oil then? The reason why I am asking this is because we only saw a sharp rise in crude oil price from the start of the Ukraine war, and so if all these years a future contract was taken at what price was it taken because oil prices have been low for sometime before the Ukraine war, so a future contract would have been disadvantageous to Nigeria.
We should not believe the BS this Reno guy is spewing.

OPEC quota is for EXPORTS, not for local production of refined products. OPEC quota also does not include stolen crude sold at the high season, which is quite substantial.

[quote author=chopnaira post=128207157][/quote] Buhari has mortgaged nigeria oil and gas as Future contract till God knows when and the money has been looted.

Now I understand why Tinubu removed fuel subsidy on the first day of assuming office, Buhari left an empty treasury

And he has continued on its stead, they've mortgaged the future of this nation

Why did Dangote suddenly start importing crude from America as soon as Tinubu hand over the sales of oil to the CBN.

Is NNPL doing business with Dangote

What is this one talking? You just choose to talk for just talking sake.Did you make any sense at all?

epainos:
I am shocked Nigerians are making this a very big issue. Dangote Refinery is a private company and won't be run like NNPC. He can buy from Pluto sef.

Dangote is wise....he made this deal with people he knows won't betray him. Was he not supposed to build it in SS or SE if he wanted to rely on their crude oil? Dangote knows how dem mad in those areas so he isn't relying on their crude. Why are they pained?

If you all think you will get a subsidy from Dangote the way you get from NNPC, you are all fo..ools.

They are waiting to hear that Dangote Refinery is closed for not having crude oil. Lol. I remember how farmers messed him up by not supplying him with fresh tomatoes for his tomato paste plant after he funded their growing systems. Dangote isn't NNPC.

Dangote is in Lagos because he is into the exportation of fuel. If he likes he will sell in dollars. Na your wahala. If you sell crude to him in naira, sure, he can give you back in naira. But thinking you will force him to give you fuel in naira while he buys in dollars for crude oil is a dream that won't come true.

So, you think he is not wise. Lol. Na you be the f.oool all along. E dey pain dem say Dangote no dey at their mercy. They had visualized how they would frustrate his refinery by not supplying him with crude oil. They had been waiting to read news like....how they forced him to give them contracts to build pipelines from their region to Lagos...and they would start blowing up the pipes. Tompolo and Asari Dokubo boys are disappointed .

Baba don set up his refinery where your madness in the oil areas won't reach his refinery. ...and he has shown you that he doesn't care about your madness. Baba is into supplying African nations with fuel....and he isn't into your useless destruction and barbarism. Kudos to Dangote for looking ahead on the right way to do this business. Mehn! See how disappointed they are. They can't blow up pipes to Dangote Refinery....they are pained.

Goodvibes007:

That's why Reno said some people are enemies of Nigeria. They just want to be fed with bad news about Nigeria all day everyday. Same Dangote has brought from Nigeria and is also now buying WTI. He can spend his money anywhere he gets the best deal.

You are not smart at all with this comment of yours. All because of being bigoted and partisan uou suspend your sense.

In other words, don't expect cheap petrol price.

Stupid Reno

eastcoast100:

What is this one talking? You just choose to talk for just talking sake.Did you make any sense at all?

Eastcoast I see you.

Here is the main sense in my last lost....read it and digest it properly.... Dangote don cut your ticket. Sorry oooo! Na NNPC be your customer. Face NNPC...no business for you in Lagos. Shikena.

wirinet:


OPEC quota is for EXPORTS, not for local production of refined products. OPEC quota also does not include stolen crude sold at the high season, which is quite substantial.

Dude we are sayingthe same thing but in different approaches it is for production to control supply and keep the price favorable to the market. This is to ensure that the price doesn't crash due to oversupply to the global market.

i am always in love with reno omokri.despite been in opposition,he never talks out of sentiments!he talks with facts and figures!!

Goodvibes007:

You forgot about the below


https://www.youtube.com/watch?v=Ej0ApKYhXq4?si=gXhln0ND_LZH7yHt

And


https://www.youtube.com/watch?v=JFyU9VPste8?si=EHKs1oCKDmYpzj10

Oga stop being foolish in your bid to spread lies National sovereign fund financed the second Niger Bridge that is why the bridge is tilled. The Eastern railway was never funded with loans that was why it was never standard gunge. Fear God and stop spreading lies.

chopnaira:
..

There must be a wrongdoing first before there should be a defence..


All these defence is not necessary..
If they did the right things, there won't be need for any defence.

See Buhari-Tormentor defending nonsense..
Just because he hates Peter-Obi and Obidients.

HRMK:
i am always in love with reno omokri.despite been in opposition,he never talks out of sentiments!he talks with facts and figures!!

Oga there is no facts and figures in what he said we know what a futures contract is, the question is at what price was a futures contract made and it is even foolish to negotiate a futures contract when the price of crude is going up. A futures contract is made when you believe that the price of crude may fall so you seal a contract at a particular price for a future sale, so even of the price goes down by then you will not lose, but if the price goes up, it is of no gain to you. The truth is that crude oil was used as repayment for the loans taken, so there is no crude to sell again. Also he said OPEC quota which is another lie. OPEC quota is for export production, which ensures that supply is controlled in the market to keep the price favorable. OPEC quota is only about production and not about who you sell your crude and how you sell it.

Importing crude or importing fuel

This Dangote Refinery don turn audio Refinery 😂😂😂😂😂😂

You see there a phenomenon where your senses and intuition tells you something is wrong and things are not supposed to work that way BUT the likes of (Reno o' mockery) comes in and makes noise and you forget whatever your intuition is telling you to listen to outside clown noises. You then deny your own senses! Just like this people deny their senses on a daily basis.

jmoore:
Reno Omonkey, speaking from both sides of the mouth.

The clown said we should stop patronizing mtn. But he wants Dangote to use dollars to import crude oil.

The olodo wants everyone to use globacom but he doesn't want Dangote to use only Nigeria crude oil.

DesChyko:
Reno: Dangote Refinery bought US crude because Nigeria's crude has been purchased far into the future.

Still Reno: Dangote Refinery can purchase its crude from anywhere because it is a private establishment.

Why the fuss if it was never really meant to be a Nigerian thing then but just a private show?

Factos: Dangote will import crude with dollar purchased at N800 - N900. Local man will import for their businesses with dollar purchased at N1500. But local man should spend more time shinning teeth for every Dangote news that emerges.

That's if it's actually crude that is being imported

Exactly.
They may be importing refined product while telling us it's crude. Reno is always scratching the truth, he doesn't go deep into the truth even when he knows the truth.

Agboriotejoye:
What exactly is his point?

how can you see any point when your interest is how Nigeria will be a failed state . Go and ask those that study management accounting to explain to you better .

The implication is that if he buys crude from far away places like USA, then the price may not be as low as expected if we got the crude from Nigeria

LibertyRep:
Nigeria's crude oil cargoes have already been contracted far into the future

Is this not enough reason to be worried?

Who and who ate into future and still left us with trillions of debt to pay.

The more reason we should pray for the president and appreciate his proactive measures to correct decades of mismanagement of his predecessors.
Wetin Buhari see run na Him Asiwaju dey contend with. This is not the time to play partisan politics but to support the incumbent and his cabinet.

God willing, all his policies will begin to yield results and impact in the nearest future. Rome wasn't built in a day. We cannot wish away the present hardship.

In due time hopefully before the end of the tenure, we will enjoy the dividends of the hardship we have endured in the name of correcting the economy.

God bless Nigeria and well meaning Nigerians in Jesus name. Amen.

[quote author=chopnaira post=128207157][/quote]

Give home food and he will dance. That’s what are I has been seeking, just like his brother FFK. What rubbish!!!

FiftyFifty:
An OPEC member and the 6th largest oil producer in the world shouldn't be buying a refined product when it has no refinery, only to start buying crude now that it has a refinery. This doesn't make a slightest sense. Stop crude oil theft/bunkering and Dangote refinery will have more than it needs.

Indeed, it's a paradox that should worry everyone. But it's not about oil bunkering. It's rather about neo-colonialism.

The world is set up to work that way. And there'll never be a time that Dangote won't import crude oil.

As I've said from the beginning, Dangote is going to learn a BIG lesson about neo-colonialism.

LibertyRep:
Nigeria's crude oil cargoes have already been contracted far into the future

Is this not enough reason to be worried?

Who and who ate into future and still left us with trillions of debt to pay.

Buhari administration sold the crude oil forget all that term of *contracting* Reno is using, where is the money from the contracting?.

Tinubu may not be able to see any money from the contracting except he also contract his own into the far future

After buying from America, will he ship the products gotten from crude to America to sell? Because, if he's selling those products here, then at what price will he sell? Because buying crude from the US will be more expensive than buying crude oil from Nigeria.

The landing cost of the ship and all other expense is something that will be factored into the sale of the product. So, it won't come cheap at all.

Beside, I'm still lost, why did the FG sell crude oil ahead. This so called sale, does it include the current price of crude oil. I mean, if the price of crude falls or increase, does it affect it, and if it does, by how much?

This backyard deal looks stupid to me though.

FiftyFifty:
An OPEC member and the 6th largest oil producer in the world shouldn't be buying a refined product when it has no refinery, only to start buying crude now that it has a refinery. This doesn't make a slightest sense. Stop crude oil theft/bunkering and Dangote refinery will have more than it needs.

That is the ignorance he tried to explain.

musicwriter:

Indeed, it's a paradox that should worry everyone. But it's not about oil bunkering. It's rather about neo-colonialism.

The world is set up to work that way. And there'll never be a time that Dangote won't import crude oil.

As I've said from the beginning, Dangote is going to learn a BIG lesson about neo-colonialism.

I Still find it hard to believe Dangote will be buying crude from the US. Reno Omokri saying Nigeria's crude has been sold I'm Advance is worrisome. Like who sells his or her product in advance?

Something is very fishy.

AntiWailer:


That is the ignorance he tried to explain.

Reno's explanation makes everything looks fishy. Like who in their right mind will sell a product in advance?

Let's not foget that OPEC qouta is for export only, so that the crude oil market will not be over supplied thereby crashing the price.
And Nigeria most times cannot even fill it's qouta talkmore of over supplying. Some of us are saying that it is because of oil theft, but who is behind the oil thieives? It is the same people in charge of the industry, no common Nigerian can effectively steal 10 barrels of crude oil from the well head or pipelines without the backing of the stakeholders.

And for Reno talking about those that wants Nigeria to fail so that they can easily break out. Nobody wants Nigeria to fail, the Nigeria is failing on its own due to evil minded leadership,this Dangote US crude oil purchase is a clear example of the kind of mess that the rulers of Nigeria has plunged it into, just a while ago NNPC was doing crude oil swap for refined products, now there is a refinery to refine our crude locally and save the much needed forex, we have contracted the crude well into the future.

And you expect any wise person to wish that this Nation will still be the way it is, it is either this Nation restructures or it will scatter by force. Most Nigerians are fed up not just we the Igbos.

DenreleDave:


People like you, Malroux Alhajicso Princeoflagos PrinceofSarcasm indifferent12 that desires to see Nigeria fail

We are much more patriotic than you, bro.
We want to see Nigeria work that is the reason we didn't support a known drug lord to become president of Nigeria.

We knew he got absolutely nothingto offer

epainos:
I am shocked Nigerians are making this a very big issue. Dangote Refinery is a private company and won't be run like NNPC. He can buy from Pluto sef.

Dangote is wise....he made this deal with people he knows won't betray him. Was he not supposed to build it in SS or SE if he wanted to rely on their crude oil? Dangote knows how dem mad in those areas so he isn't relying on their crude. Why are they pained?

If you all think you will get a subsidy from Dangote the way you get from NNPC, you are all fo..ools.

They are waiting to hear that Dangote Refinery is closed for not having crude oil. Lol. I remember how farmers messed him up by not supplying him with fresh tomatoes for his tomato paste plant after he funded their growing systems. Dangote isn't NNPC.

Dangote is in Lagos because he is into the exportation of fuel. If he likes he will sell in dollars. Na your wahala. If you sell crude to him in naira, sure, he can give you back in naira. But thinking you will force him to give you fuel in naira while he buys in dollars for crude oil is a dream that won't come true.

So, you think he is not wise. Lol. Na you be the f.oool all along. E dey pain dem say Dangote no dey at their mercy. They had visualized how they would frustrate his refinery by not supplying him with crude oil. They had been waiting to read news like....how they forced him to give them contracts to build pipelines from their region to Lagos...and they would start blowing up the pipes. Tompolo and Asari Dokubo boys are disappointed .

Baba don set up his refinery where your madness in the oil areas won't reach his refinery. ...and he has shown you that he doesn't care about your madness. Baba is into supplying African nations with fuel....and he isn't into your useless destruction and barbarism. Kudos to Dangote for looking ahead on the right way to do this business. Mehn! See how disappointed they are. They can't blow up pipes to Dangote Refinery....they are pained.

Am not disappointed boy,you think and reason like a fool that you are

Two face man has been set loose again.
This Mockery of a guy is a number one enemy of Nigeria who claims to be smart.