Correct

blackboy2star:
You not following the news? It baffles you why the refinery is not producing PMS, Aviation fuel etc
For PMS and co you mentioned, until there storage capacity gets to some level before they dispense PMS. That's one of the reason

No. There are more than 120 big tank farms in the refinery. The storage tanks are built by Chemiteck Company. There no way the refinery will be working and only producing diesel ⛽. Fractional distillation produces different products

Scream:
The government of APC knows how to distract the i indigenes that claim to be educated, They will just say igbos are trying to blabla... the issue eill balablue bulaba

Exactly..not too smart most of them.

Raskimonojendor:

The same Bode George's "Omo Eko Pataki" clowns. Dem nor dey tire...mtchew.

Ps: Prince Adelani died yesterday at the age of 66.

Well done.

Believeintruth:


Because someone asked about detail of how the money was utilised abi. Bros go and rest and stop being a paid urchin

The writer of the petition has been offed.

nairamaniac:


I tire. They have kpai the Prince oooo. No one messes with Asiwaju

Hmmmm

agulion:
Tinubu is a thief

He has bought the land sometime ago before Tinubu came on seat
Even before Sanwo Olu

$100 million is a lot of money for someone to just collect and keep for himself like that. That's to show the level of looting they practise in the government. But I thought they said tinubu is rich already and has enough money himself, so he does not need to steal Nigerian money

grandstar:


It isn't profitable to produce petrol and sell directly to oil marketers at the price of N600.

Price of crude oil per barrel hovers around $75. A barrel contains 159 litres of crude oil

Therefore a litre will cost $75/159 = 47cents

1 litre of crude oil in Naira is 47cents x the prevailing exchange rate of 1,500 =N705.

A litre of crude oil sell for N705, while petrol sells for 600. It is cheaper to buy petrol in Nigeria, than crude oil. Why won't the nation be bankrupt?

The only entity that can sell petrol for N600 is the FG and it does this by buying petrol at the market price and resells it at a price, let's assume 500 so that marketers can resell at 600/litre.

The cost of this subsidy may be as high as 500/litre. Multiply that by local consumption 52m and you have N26bn daily.

That's why oil marketers say the government is spending as 700bn monthly on the petrol subsidy

https://dailypost.ng/2024/07/23/nigerias-fuel-subsidy-payment-exceeds-n700bn-monthly-marketers/

The 705 price does not include refining cost.

So, can you see why Dangote isn't producing gasoline for the local market?

The FG owes international oil traders between $5-6bn for petrol.

Dangote can produce petrol if he wants to even with FG's subsidy in place. It is a matter of FG buying from Dangote directly and reselling to 60% of west and central Africa we like to call local market.

That way FG gets to save extra cost of transporting crude to foreign refineries and transporting petrol back to Nigeria.

The corrupt people who are already in the business of flooding west and central africa with low quality petrol dont want that. They prefer to import low quality fuel at unbeatable price compared to Dangote's premium petrol and make more money by making FG subsidize it. The subsidy guarantees the whole of west and central Africa will prefer the Nigerians smuggled petrol from where the cabal can make their little something per litre Times what west and east Africa consumes.

It is a case of evil multiplied by corruption. The main problem is the petroleum sector cabal.

blacknp:
Jobless disgruntled Peasant, wetin concern you with property that Dangote paid for?

Hypocrite bad belle Things filled with hate, na why Una go remain in poverty.

See poverty striken Ronu miscreant telling someone " Una go remain in poverty" wonders shall never end.

blacknp:
Jobless busybody disgruntled Peasant, wetin concern you with the money that Dangote paid for land in 2012, 12 years ago?

Typical Ronu miscreant. Dregs of the society

olusipimp:

No longer business as usual...2027 will show ur ilks what's next

And how does this concern you and your lineage....

This is a challenge between Lagos state government and Lagos land owner....snd this people also have their heavy representatives in Lagos state government ....they know how to solve their issue ..it is not your business....


Jobless can make some stupid people blabbing on social medis...

What am saying is, he's not rolling out fuel, Jet fuel yet. It must get to a certain millions of liters before he start selling. Note that he has 600 million liters reserve for petrol and 480 million for jet fuel.
Until they reach that storage capacity to sell out.
Also, 500k barrels per day must be consistent

OPICANTO2223:


No. There are more than 120 big tank farms in the refinery. The storage tanks are built by Chemiteck Company. There no way the refinery will be working and only producing diesel ⛽. Fractional distillation produces different products

grandstar:


It isn't profitable to produce petrol and sell directly to oil marketers at the price of N600.

Price of crude oil per barrel hovers around $75. A barrel contains 159 litres of crude oil

Therefore a litre will cost $75/159 = 47cents

1 litre of crude oil in Naira is 47cents x the prevailing exchange rate of 1,500 =N705.

A litre of crude oil sell for N705, while petrol sells for 600. It is cheaper to buy petrol in Nigeria, than crude oil. Why won't the nation be bankrupt?

The only entity that can sell petrol for N600 is the FG and it does this by buying petrol at the market price and resells it at a price, let's assume 500 so that marketers can resell at 600/litre.

The cost of this subsidy may be as high as 500/litre. Multiply that by local consumption 52m and you have N26bn daily.

That's why oil marketers say the government is spending as 700bn monthly on the petrol subsidy

https://dailypost.ng/2024/07/23/nigerias-fuel-subsidy-payment-exceeds-n700bn-monthly-marketers/

The 705 price does not include refining cost.

So, can you see why Dangote isn't producing gasoline for the local market?

The FG owes international oil traders between $5-6bn for petrol.

could it be the govt is maintaining subsidy because of conflict of interest. Wale Tinubu was listed as a director in one of the Malta blending company. Why celebrate saving of funds after perceived subsidy removal then reintroduce same silently?

Comparing old and new rates show we paid around $0.4-$0.5 before removal and are paying around that after the alleged removal. It points to a subsidy existing. If that is the case, it could be because the importers are Mr. Presidents friends and associates so stand to gain something for every litre consumed by we and our neighbors who smuggle it in from us.

shortgun:
The day a government not controlled by Bola Ahmed Tinubu will emerge in Lagos state, the extent of the corruption and decay that will be uncovered will be monumentally staggering.

I have been maintaining this stance for a very long time. One day a ruler that knew not Joseph would rise and people would shed tears at the years and years of corruption and sleaze in that state.

Leemzyy:
Share not chair

how many times do I need to tell you that we have too kinds of Englishes. British English and American English. I used the American English which is not commonly used in Nigeria

[quote author=blackboy2star post=131338619]What am saying is, he's not rolling out fuel, Jet fuel yet. It must get to a certain millions of liters before he start selling. Note that he has 600 million liters reserve for petrol and 480 million for jet fuel.
Until they reach that storage capacity to sell out.
Also, 500k barrels per day must be consistent


[/quotes]

How are you sure

blackboy2star:
What am saying is, he's not rolling out fuel, Jet fuel yet. It must get to a certain millions of liters before he start selling. Note that he has 600 million liters reserve for petrol and 480 million for jet fuel.
Until they reach that storage capacity to sell out.
Also, 500k barrels per day must be consistent

Don't be too sure of what you are sure of

😂😂😂

doggedfighter:


Your mouth too bad.

I can't stop laughing at what you typed 🤣🤣🤣