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Only NNPCL Can Buy Dangote Petrol – IPMAN - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Only NNPCL Can Buy Dangote Petrol – IPMAN (20375 Views)

Dangote Petrol: IPMAN, PETROAN Hint On Price Reduction / Deregulation: Oil Marketers To Import Cheaper Petrol — IPMAN / Nigerians May Buy Dangote Petrol For N857, N865 Per Litre (2) (3) (4)

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Arutan: 11:04am On Jul 29
Rupertek:
Are you aware that we building our own refinery can only remove the cost on profit that the refineries make on fuel, which cannot be more than 100 naira per litter.
There is nothing like Cheap crude, crude is FGs main source of income so can only be supplied to the refinery at prevailing International market rate. So have our own refinery can eliminate only freight and profit cost


Nigeria needs at least 15 refineries to maintain stable supply of petrol to the populace because we not only cater to our very population but our outputs is being smuggled out to other West African / Central African nations thereby affecting what is available locally. Prices keep going up because neighboring nations are willing to pay higher prices for products smuggled from Nigeria.
It is the citizens that are smuggling the products, sabotaging the economy and our people. Activities of the citizens is making living unbearable in Nigeria to satisfy other nations.
We left agriculture in the hands of very few to feed 230m people? It is unworkable because such will result in high prices of food items and invariably hunger in the land.
The youth population that are supposed to engage in food production to feed the aging population are busy relishing in drug addiction, social vices and gangsterism. Result will be hunger in the land.
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Arutan: 11:08am On Jul 29
Asonaijaaso:


Crude oil is one commodity thats more valuable than dollars in the world. He cannot get free crude in Nigeria, it will never happen.
Even the free limestone and laterite he gets for Cement manufacturing, we never saw any discounted rices for Nigerians, he sell to Nigerians the same price with other neighboring African countries, despite the free raw material he gets from Nigeria.

Exactly. Government agreed even to sell at his price but he refused to sell to people at government price of N150/L. He can’t get crude free and not give to Nigerians at excellent rates.

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by UstazAhmed(m): 11:10am On Jul 29
adekolaelect:
can you give your competent ideas on the Topic?

Am I on his payroll of special advisers or is he not paying people for advice? But does he listen?
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by ufotunang: 11:54am On Jul 29
mrvitalis:

Lmao has dangote made a anything cheaper?
..its a pity .... nigeria....one step forward, two steps backwards
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by ambale(m): 12:03pm On Jul 29
Can this oil just dry up make we just rest jere

Everyday na so so cornfused news we dey hear
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by ivandragon: 12:12pm On Jul 29
BigTableShaker:


Now, whos the owner of the Malta refinery?!

Obby?
or
Tilumpu?

Kindly direct your question to the appropriate quarters.
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by mrvitalis(m): 12:18pm On Jul 29
ufotunang:
..its a pity .... nigeria....one step forward, two steps backwards
We haven't taken any forward step since 2015
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by frog12: 12:25pm On Jul 29
see as dem dey cause troubles for themselves. fix refineries, they no wan do am
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by seunmsg(m): 12:37pm On Jul 29
Faiththatworks:
NNPCL is mad and crazy. Whoever gave this suggestions about NNPCL being an offtaker is just trying with another format to bring back subsidy.
NNPCL is the worst government organisation In the last 10 years, I'm not a tribalistic man but I believe those Hausa and Fulani people have totally failed at NNPCL.
Asiwaju must use his nepotistic tendencies in cleansing the clueless and parasitic Fulani and Hausa elements in that organization.
How can the clueless Fulani and Hausa elements in that organization still be in charge eight months after they told us the Port-Harcourt Refinery will start working,how they are still employed really baffles me.
I believe there's a simple solution to cheap fuel in Nigeria, especially from Dangote Refinery.
Instead of the parasitic element in NNPCL paying for subsidy on Refined fuel,they should subsidize the crude oil.
No Kobo should be paid to Dangote in the form of subsidizing refined products,let the NNPCL and the dirty cabal in the organization give Dangote the local crude production at a discounted rate and fix the price of Refined products but the thieves in NNPCL will never go that route.
If Asiwaju doesn't sack these criminals in NNPCL then I believe he's a direct benefit of the economic crime they are commiting against their

Even though government is not paying subsidy to anybody, there is an under recovery in the retail price of PMS. The under recovery is a form of subsidy. Without NNPC buying PMS and selling to marketers in order to take care of the under recovery, no marketer can buy from Dangote and sell below N1400.

The problem is beyond NNPC and Dangote. The volatility in the exchange rate is the problem. CBN may have no choice than to repeg the exchange rate for the purpose of stability. Without a stable exchange rate, the PMS price disruption won't end.

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by frog12: 12:43pm On Jul 29
even BUHARI no fit fix refineries as petroleum minister for 8 years shocked shocked shocked

cursed politicians

Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by grandstar(m): 1:48pm On Jul 29
Kukutente23:

I don't see why Dangote can't get crude cheap to moderate retail prices as is being done by the likes of Aramco, Gazprom and Petrobas

So, the FG should sell the crude oil at heavily subsidized prices to Dangote, and you say there's no subsidy.

Requesting the sale of crude oil at subsidized prices means that the government would sacrifice a lot of revenue.

So, let's say for the petrol to sell at N600/litre. a barrel of crude would be sold at $40. That means government is losing about $40 per barrel. Multiply that by about 300,000 barrels and you have $12m per day or about $4.5bn a year. These are just estimates. The figure could be far worse.

And do you think selling crude oil at subsidized price can't be abused by Dangote? He could make a fortune by reselling some of the finished products overseas at the full market price, making outrageous profits. As a former American president and economist said, "The existence of subsidies can not be divorced from abuse"

Where is even the crude oil in the first to supply at a subsidized rate? Nigeria should be producing 1.8m bpd but only produces 1.4m max. The country does not have enough oil to supply.

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Emyogalanya: 2:25pm On Jul 29
Asonaijaaso:


Refineries are expensive to run.
Yes very expeosite to run. But the truth is that it is run by humans not spirits. Last time i checked its humans that run governments. I don't know why you keep making Excuses for our leaders. Do you know the volume of money that has been lost to Corruption since january 1st till date. That money is enough to build some Refinery
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by sonickay(m): 3:45pm On Jul 29
Bros, we are still paying subsidy, thats why NNPC is able to continue doing magic at its filling stations and at the price it sells to marketers.

In fact, recall that Ajaero, NLC Chairman reported that Tinubu threatened to increase the fuel pump price if he is to agree to 250k minimum wage cos it is within his powers to tell NNPC to sell at the landing cost and not at the subsidized cost
naijaboy756:
NNPC are magicians selling at a loss to Nigerians then

ARE WE STILL PAYING SUBSIDY?

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Kukutente23: 4:02pm On Jul 29
grandstar:


So, the FG should sell the crude oil at heavily subsidized prices to Dangote, and you say there's no subsidy.

Requesting the sale of crude oil at subsidized prices means that the government would sacrifice a lot of revenue.

So, let's say for the petrol to sell at N600/litre. a barrel of crude would be sold at $40. That means government is losing about $40 per barrel. Multiply that by about 300,000 barrels and you have $12m per day or about $4.5bn a year. These are just estimates. The figure could be far worse.

And do you think selling crude oil at subsidized price can't be abused by Dangote? He could make a fortune by reselling some of the finished products overseas at the full market price, making outrageous profits. As a former American president and economist said, "The existence of subsidies can not be divorced from abuse"

Where is even the crude oil in the first to supply at a subsidized rate? Nigeria should be producing 1.8m bpd but only produces 1.4m max. The country does not have enough oil to supply.

1. What is wrong with selling locally produced crude cheap to keep prices low? Even US pays subsidy to oil and gas companies to reduce cost of crude production. The basic that we have seen over the past year is that price of petrol is a very important determinant for economic growth and stability. So I don't see why the price should not be kept low as much as possible. The current food inflation is driven by transport cost which is driven by fuel price
2. I don't understand why you think Govt spending $40 on each barrel of crude to keep cost of living low is a bad thing. Is the responsibility of govt not the welfare of the people? The $40 is money from the resources belonging to the country which should be enjoyed by all. So I don't know why it is a bad thing to spend govt money to make life easier for the people
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by BigTableShaker(f): 5:42pm On Jul 29
Rupertek:
Are you aware that we building our own refinery can only remove the cost on profit that the refineries make on fuel, which cannot be more than 100 naira per litter.
There is nothing like Cheap crude, crude is FGs main source of income so can only be supplied to the refinery at prevailing International market rate. So have our own refinery can eliminate only freight and profit cost

No, you don't Gerrit.
Let's assume you are the manager of a slaughter house cum abattoir.
Will your households lack meat?!
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by blackboy(m): 7:02pm On Jul 29
Ppl who thought Dangote was crying because of them must have voted for APC. Is it not the same Dangote cement that is not cheap upon their billions of naira profit annually. So you thought he would sell to bring down fuel price? Jokers. He was crying because he knew his time to cash out is now. If PH, Warri or Kaduna refinery kicks off he won't have monopoly and cannot dictate price. FG needs to get our refineries working ASap. Sack NNPC. They have failed last year and keep promising and failing. NNPC don't want the refineries working or any refinery in Nigeria to work

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by grandstar(m): 7:53pm On Jul 29
Kukutente23:

1. What is wrong with selling locally produced crude cheap to keep prices low? Even US pays subsidy to oil and gas companies to reduce cost of crude production. The basic that we have seen over the past year is that price of petrol is a very important determinant for economic growth and stability. So I don't see why the price should not be kept low as much as possible. The current food inflation is driven by transport cost which is driven by fuel price
2. I don't understand why you think Govt spending $40 on each barrel of crude to keep cost of living low is a bad thing. Is the responsibility of govt not the welfare of the people? The $40 is money from the resources belonging to the country which should be enjoyed by all. So I don't know why it is a bad thing to spend govt money to make life easier for the people

The country is broke. The government is broke! There's no money! Government can not sacrifice any revenue.

Any shortfall in revenue will have to be borrowed. Nigeria isn't a country that can cope with a huge debt burden as the interest rates are above 25%, and tax collection is barely 10% of GDP. The only way government can service more debt is simply by printing more money which is very inflationary.

Contrast with America where rates are around 3% and tax collection is about 28% of GDP.

There are better ways to help the poor such as lifting the ban on the importation of certain food or slashing import duty on them.

Import duty on wheat is 70%. Why not slash it to 20%? This will help bring down the price of bread. I won't be surprised of 1,500 bread won't crash to 1,200 or less of this happends.

The ban on rice imports makes no sense as Nigeria lacks any competitive or comparative advantage producing it. It is cheaper for the country to import than to produce it more locally. The government plans to open the borders for the import of unprocessed rice into the country with a zero percent duty is a fine move if implemented. Import duty on processed rice should be 30% at the beginning and eventually reduced to 20%

The ban on the importation of poultry meat also makes no sense. Allow its importation with an import duty of 20% maximum. Nigerians are starving, really starving.

These policies will not only help bring down the price of food, but also but boost the government purse with 100s of billions of Naira, which it desperately needs.

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Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Gboss247(m): 8:58pm On Jul 29
Asonaijaaso:
All those people shouting Dangote refinery is going to make prices cheaper.

"He plans to sell at international rates, meaning government will buy it expensive from him and subsidized it for the citizens."

He is a 100% Businessman.
Dont let them drag you into their challenges.
These people dont care about us.
Your comment looks very lacks logical reasoning
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Gboss247(m): 9:02pm On Jul 29
davodyguy:
I can see a lot of ignorance.

Those who can read are blaming NNPCL and FG

Dangote is a business man and he has no intention of subsidizing anything or helping anyone.

Has he ever sold Cement cheaper than Large and BUA?

That Monopoly thing is real. NNPCL knows what they're saying about Dangote.
You were making sense until you mention monopoly, monopoly of what if I may I asked?
The Tinubu you voted into power has removed petrol subsidy but you expect Dangote to pay subsidy?
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Gboss247(m): 9:12pm On Jul 29
Mrexcell:
But dangote refinery was able to reduce the price of diesel so why can't they also reduce the price of fuel or sell at the current market rate?
Are aware of the N500-N700 subsidy on inferior imported petrol?
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Gboss247(m): 9:22pm On Jul 29
Niceme2020:
Landing cost of Diesel was around #1,600 when Dangote rooled out Diesel at #1,100 or so. Dangote can sell petrol at around #700, while filling stations can sell below #800,I think that is still manageable as far as subsidy payment is completely gone and fuel is available.
When you wake up from your dreams, a petrol that N1,000 to refine when will sell below that price except it subsidized.
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Gboss247(m): 9:24pm On Jul 29
Metalsmith:
FG and NNPCL should do whatever is necessary to allow Dangote Refinery to operate and produce petroleum products for the masses of this country.The price should be reasonable and affordable for the masses. about N550 per litre. Any issue of quality standards and pump price per litter should be resolved amicably without unnecessary rancor and mudslinging between NNPCL and Dangote Refinery Management. The overall interest of the masses should be paramount. The saboteurs in NNPCL should be identified and exposed to face full weight of the law. President Tinubu should have courage to expose and prosecute all individuals found culpable in subsidy scandal and non functional local refineries.
Are you ready to provide the required subsidy?
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by AnyanwuSilas: 10:02pm On Jul 29
mrvitalis:
Marketers can't buy from dangote because there is no how dangote can sale for ₦1100

And there is no how marketers can buy ₦1100 when price is ₦600 to ₦800

So only NNPC can buy and sale at a loss ( AKA subsidy of ₦700)

Do you need any more proof we pay subsidy?


It's not like that, not because of subsidy,

It's base on quality of the fuel, e.g. the quality of fuel we use in Nigeria is different from the one used in UK, US...

When UK refineries refine fuel, they take the quality part of it, then sells the low quality or substandard part to Nigeria and other third world countries because FG can't afford to buy well refined PMS for her people, this is also why none of our refineries is working, they deliberately left the refineries and use it to loot.

Most people don't understand what's going on, even our vehicles follow they suffer.

So Dangote's fuel will be more costly and will be original or good product, the part of his refined products that match Nigeria's standard will be sold to FG.

That means Dangote will be exporting most part of his fuel to countries who can to afford it for their citizens.

1 Like

Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by adekolaelect(m): 10:14pm On Jul 29
UstazAhmed:


Am I on his payroll of special advisers or is he not paying people for advice? But does he listen?
if I can understand you. You are just for the negative criticism without any positive ideas of solving problems that you were talking about as if you are wiser than those that are there?
Re: Only NNPCL Can Buy Dangote Petrol – IPMAN by Asonaijaaso: 10:22pm On Jul 29
Gboss247:
Your comment looks very lacks logical reasoning

What language are you typing ?

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