monerozi5590:



You didn't answer any of my question.

PIA was signed into law in 2021. Before then the petroleum market was not deregulated.

Prior to 2021, NNPC are the sole importer of refined petroleum products.

After 2021, NNPC are still the sole importer of refined petroleum products.

There are no marketers importing refined petroleum products anywhere.
https://leadership.ng/despite-pia-petrol-import-monopoly-persists/

There's no new entrants anywhere.

monerozi5590:


If and only if Dangote and other local refineries can meet local demand at all times.

monerozi5590:



You didn't answer any of my question.

PIA was signed into law in 2021. Before then the petroleum market was not deregulated.

Prior to 2021, NNPC are the sole importer of refined petroleum products.

After 2021, NNPC are still the sole importer of refined petroleum products.

There are no marketers importing refined petroleum products anywhere.
https://leadership.ng/despite-pia-petrol-import-monopoly-persists/

There's no new entrants anywhere.

larride:


US is one of the highest producer of oil in the world and they still import and EXPORT oil.

I don't understand why some people want Dangote to be the only one calling the shot with his refinery.

If your own oil is cheaper, marketers will buy it over the imported own because they themselves want to make profit and cut cost.

larride:


NNPC only became the sole importer of petroleum product when Buhari became President in 2015. Prior to that there were alot of marketers who were into importation.

BlueRayDick:


If indeed Dangote refinery will save cost and thus make his product cheap, why then is he not flooding the market with that cheap product so that the expensive product of the importers will not sell?

Pray tell

BlueRayDick:


Dangote is the new entrant who wants NMDRA to ban importation of petroleum products just to favor him.

They have since explained the reason why they can't do that and their reason is logical.

By the way, I don't know where u are getting u info from, but as at June 2023 , Six private companies were granted importation license for petroleum products.

In fact, I know Emadeb energy still imported petroleum product in July 2023.

Segedinho:

I don't think any sane person would want to risk buying an un-ideal fuel as announced by the NNPC chair


If NNPC repugnant post was about the price being too much, it would have been more logical....

We are yet too get d full gist on while he isnt able to saturate d federation with his fuel or possibly why he isn't being supplied crude at an ideal price..


I read, he grumbled on the price he was going to get Nigeria crude vs imported ones...

Importing crude even when we have surplus seems to be abnormal..


There is a reason we are yet to own a refinery.

larride:


I don't understand this argument, should NNPC stop importation totally and rely on only Dangote refinery, is that the argument or bone of contention?

Do you think this is reasonable?

larride:


So can they meet the demand at "this time"?

So what's the cause of all the noise and argument?

Segedinho:

I don't think any sane person would want to risk buying an un-ideal fuel as announced by the NNPC chair


If NNPC repugnant post was about the price being too much, it would have been more logical....

We are yet too get d full gist on while he isnt able to saturate d federation with his fuel or possibly why he isn't being supplied crude at an ideal price..


I read, he grumbled on the price he was going to get Nigeria crude vs imported ones...

Importing crude even when we have surplus seems to be abnormal..


There is a reason we are yet to own a refinery.

Sentimentality.. I would believe a madman vs. NIGERIA elites

BlueRayDick:


You have been reading the wrong news bro. We don't have surplus crude available like u are assuming.

We have pledge some of the untapped crude to pay our creditors, so as soon as they explore the crude it gets shipped to our creditors.

monerozi5590:


That link I sent to you is two months ago. NNPC is the sole importer

At a meeting between key oil marketers in the country and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday to address the issues of incessant scarcity of petroleum products, the NMDPRA chief executive officer, Farouk Ahmed, emphasised that the NNPCL is currently the sole importer of petrol into the country.

This is as the major marketers lamented their inability to import petroleum products, despite having active licences to import

The PIA, which was signed into law in August 2021, was aimed at reforming the country’s oil and gas industry, including the downstream sector. One of the key objectives of the PIA was to encourage competition and attract private investment in the importation and distribution of petrol. However, the reality paints a different picture.

According to industry experts, the NNPC Limited has maintained its stranglehold on petrol imports due to its ability to access foreign exchange. This advantage has made it difficult for independent marketers to compete

BlueRayDick:


You have been reading the wrong news bro. We don't have surplus crude available like u are assuming.

We have pledge some of the untapped crude to pay our creditors, so as soon as they explore the crude it gets shipped to our creditors.

BlueRayDick:




This is from the Link u shared. I told u there are other importers of peteroleum product because I actually followed the news and knew some importers were granted importation license.

All the news is telling u is that those importers are expected to source their forex instead of getting forex from FG like they were doing in the past. Of their own volition to choose not to source forex independently despite having import license. How is that NNPC fault?

Now the same NMDPRA that Dangote is fighting are encouraging importers to buy locally from Dangote if they can't access forex to carry out importation on their own. The marketers are kicking against it and want to do their importation themselves.

You see NMDPRA is even trying to help Dangote , but Dangote wants importers to buy locally from him and also have NNPC stop importation. Is that fair to u?

monerozi5590:


Just forget this thing you are saying. NNPC are in charge.

Nigeria produce 1.6/7 barrels of oil per day. This is the official figures we know oh. The ones they corner and oil theft is not among oh.

If NNPC want to give Dangote crude, they can. As of last year they promised to sell to Dangote. But all of a sudden, their strategic interest doesn't align again.

BlueRayDick:

BlueRayDick:


Were u not the one that showed me a link few days ago that FG borrowed another crude-backed loan ? What do u think NNPC mean by that ?

monerozi5590:


Now, you know they are the sole importer. I can now rest my case.

BlueRayDick:


You missed the part where anybody can still import ?

If any of the importers can source their own forex independently , they can import as at today .

This one u said u want to rest ur case, are u sure u are no longer interested in fighting for Dangote to be the only one supplying Nigerian market petroleum product ?

monerozi5590:


Is not all our crude na. Crude still remains our major revenue.

monerozi5590:


Anybody can still import but none is importing because they can't. That's the point.

Is Dangote the only one supplying cement/spaghetti, etc to Nigerians?

They are other local refineries alongside Dangote's

BlueRayDick:


How many products of those other refineries have u seen in the market ?

BlueRayDick:


You missed the part where anybody can still import ?

If any of the importers can source their own forex independently , they can import as at today .

This one u said u want to rest ur case, are u sure u are no longer interested in fighting for Dangote to be the only one supplying Nigerian market petroleum product ?

BlueRayDick:


Do u know to what extent some of those loans impact on our crude available for sale?

monerozi5590:


This is Waltersmith modular refenery. One of the licence refineries we have.

monerozi5590:


I don't know the maturity date neither do I know which benchmark( dollars) was used per barrel. Nigeria is still making revenue (kudi) through crude oil sell.

GloriousGbola:


no one will import because there s clearly a subsidy. NNPC stations are still selling at n568. anyone bringing in fuel will be at over n1000/litre. a large number of nigerians are content to queue at NNPC for a hour to get fuel at 568 rather than enter mobil for 610 in 10 -15 minutes or for 700 instant.

no one will bring in PMS.

BlueRayDick:


You are conflating different issues together.

Those companies leaving the country are citing foreign exchange losses, high interest rate , etc as their reasons which we have dragged FG for.

But Dangote is moaning about being asked to compete with importers. They are two different things.

BlueRayDick:


So what is ur point exactly?