NNPC Lifts Dangote Petrol, Sells At N897/litre - Politics (2)

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NNPC Lifts Dangote Petrol, Sells At N897/litre - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / NNPC Lifts Dangote Petrol, Sells At N897/litre (32235 Views)

Only NNPCL Can Buy Dangote Petrol – IPMAN / Petrol Sells For ₦‎700 Per Liter In Kwara / Fuel Scarcity Hits Ogun, Lagos, Adamawa Borders, Petrol Sells For N600 Per Litre (2) (3) (4)

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Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by chudez0147(m): 10:05am On Sep 04

So why was some people from the s@dwest celebrating the refinery??

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by advanceDNA: 10:05am On Sep 04

Anither563:
The era of fuel subsidy is now over. The fuel price will now be determined by market forces. Let's support Dangote and the NNPC in this new journey. God bless Nigeria for ever!

There is nothing like market forces with NNPC in the middle....

9 Likes 1 Share

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by press9jatv: 10:06am On Sep 04

By December, it will hit #1k from Nnpcl depot

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Peledonomy: 10:06am On Sep 04

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lexy2014: 10:06am On Sep 04

tduorhen:
If nnpc selling 895, then the average price across other stations must be above 1000 for sure.

I think we might be back to square one

God bless you. a lot of people were rejoicing and I was telling them to calm down because NNPC will be the one to fix the price

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by press9jatv: 10:06am On Sep 04

By December, it will hit #1k from Nnpcl filling stations

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by strangest(m): 10:07am On Sep 04

Act 1, Scene 1: "SUBSIDY IS GONE!"

Scene 2: Exchange rate unification and currency floatation neutralized subsidy removal. Pump price became higher than landing cost with NNPC covering the differential. SUBSIDY IS BACK!

Act 2, Scene 1: Dangote Refinery is our savior.

Scene 2:

Dangote: I need Crude Oil.

NNPC: We cannot give you.

Dangote: You must give us. PIA said you must leave out a portion of Crude Oil produced for domestic supply.

NNPC: We have signed forward sales agreement.

Dangote: PIA, a law supersedes any agreement.

NNPC/NMPDRA: You are not ready. Even your Diesel is substandard. And we won't allow you to become a monopoly.

Dangote: My Diesel is more qualitative than yours. I am offering you a lifeline with PMS. But no problem, I know what is happening in Malta.

NNPC: (No comment)

Act 3, Scene 1:

NNPC: We will give you Crude Oil. In fact, we will sell it to you in Naira.

Dangote: Thank you

Act 4, Scene 1:

NNPC: We are profitable. But we are in $6 billion debt. It is becoming hard to guarantee supply.

NNPC then raises pump price to N897, closer to landing cost.

NNPC: (And then suddenly) Dangote, we are going to be the exclusive buyers of your petrol.

Dangote: No Problem (Nigerians: No problem? 🤔).

Scene 2:

Nigerians: NNPC, why are you interested in being the sole buyers of Dangote's petrol?

FG/NNPC: For pricing purposes.

Nigerians: Una wan become monopolist too? Shey you accused Dangote of such? 🤔

NNPC: No Comment

Nigerians: Wait. How much will you now sell the petrol. 🤔

NNPC: FEC will decide.

Nigerians: So you want to peg price? DEREGULATION IS GONE? 🤔

NNPC: No Comment.

Nigerians: Wait. How are you now going to find money and pay your $6 billion debt?

NNPC: We will find ways.

Nigerians: Jira Jira Jira (Wait Wait Wait), hope you are not planning to peg price above what would have been the real market price and below what it would have costed if imported to discourage import and yet still accrue windfall?

NNPC: No Comment.

Nigerians: Is that how you intend to get the money to your pay your debt?

NNPC: No Comment.

Nigerians: Hmm 🤔

WE WATCH! 😊

Sha, congratulations Dangote. You did it!

Abdulhaleem Ishaq Ringim. Public Affairs Analyst

15 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Segzy19: 10:08am On Sep 04

Firstly, I think we need to know how much Dangote is selling his own fuel to NNPC... Then we can now determine how much NNPCL is adding to it as their own margin/profit.

Another thing that may help (not too sure) is if Dangote decides to go into downstream business of having his own petrol stations...

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by spiSeyi: 10:09am On Sep 04

Dangote is a con man and this is one of the reasons why I saw his immediate lovers and sympathizer as fools when things fell part between him and PBAT angry

. If you think that Dangote refinery will benefit the common man then you are a slowpoke, and you should ask yourself how has Dangote cement benefited the average man.
The sudden fuel hike was a plot to justify Dangote & NNPCL plan to extort Nigerians through outrageous fuel prices so that the FG can payback the humongous loans they are using to finance their lavish lifestyles.
If the FG mean well for Nigerians NNPCL shouldn't be the sole distributor of Dangote oil.
APC is using poverty as a tool to enslave Nigerians angry

6 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by concho(m): 10:10am On Sep 04

Ijaya123:
Finally.

I thought one fugitive called David Hyundai said the refinery will never work and the headless mob believed and went to town with the fraud

So it’s working ?

1 Like

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by kernniejay(m): 10:10am On Sep 04

Nigerians should brace up for proper inflation, the previous inflation was a rehearsal.

3 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by ajebuter(f): 10:11am On Sep 04

Salewa97:
Good news

The Dangote's refinery would help in stabilizing the fuel price in the country. The more competition, the better for the consumers

Salewa, if you earn 70k the government you fiercely support is paying, can you afford to pay N897 for fuel?

If you were born in 1997 as shown alongside your moniker, l was in 200 level in university in LASU and lived comfortably on N700 daily including transportation to campus

My point is that some of us actually met a Nigeria that worked and we enjoyed

Sadly, if you're 1997- born, meaning you are less than 30 and met a messed up Nigeria Therefore it's very unwise to support government that is robbing you of the good life you're entitled to as a citizen

9 Likes 1 Share

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Sultty(m): 10:12am On Sep 04

let they be investigation carried out on nnpcl. What are there hiding from Nigerians

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lexy2014: 10:12am On Sep 04

Anither563:
The era of fuel subsidy is now over. The fuel price will now be determined by market forces. Let's support Dangote and the NNPC in this new journey. God bless Nigeria for ever!

which "market forces"? is it market forces tat fixed price of petrol for N897?

who are the "lets" you are talking about?

are dangote and nnpc supporting you?

2 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Standing5(m): 10:12am On Sep 04

If true I doubt it will last for long.
That means intl petrol selling for as high as N1800 is helping marketer in those nations make a kill. Dangote should forget about Nigeria and focus on those juicier markets.

1 Like

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Minjim: 10:13am On Sep 04

We're doomed!

Is this the same Dangote Refinery Nigerians have been praying and waiting to save us ?

5 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by StraightGaay: 10:13am On Sep 04

Ijaya123:
Finally.

I thought one fugitive called David Hyundai said the refinery will never work and the headless mob believed and went to town with the fraud

Oga you for wait make we see the impact it has on the increased fuel price b4 spitting saliver everywhere

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by 4ormidable(m): 10:14am On Sep 04

What more can I say? angry

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by IbeOkehie: 10:14am On Sep 04

Nigerians please pay attention to real market data.

The price of petrol declined significantly on the world market since yesterday by around 6%, ending at $0.5 per liter.

https://www.investing.com/commodities/gasoline-rbob

I did the calculations based on $1 = 1600₦ and arrived at a price of ~ ₦800 per liter. This is the world price of petrol right now.

What this means is that NNPC price of ₦897 contains a TAX or profit of ₦100.

I believe if Dangote is allowed to sell on an open market to ANY petrol marketer he wishes, the price will be significantly below this official price. It's WRONG for NNPC to become a MONOPOLY buyer of petrol from domestic refineries. The reason for this market closure is clear - NNPC can't compete against private companies, just like NTA can't compete against private broadcasters.

Open the market. Pass legislation and TAX fuel sales, be transparent. Sales tax like this is a good thing, there's no need to lie about it.

Good Luck to Nigerians.

3 Likes 1 Share

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lereinter(m): 10:14am On Sep 04

youngrhosy:
God, where ur eye dey, this hardship getting too much

If you didn't vote for tinubu no hardship can withhold you

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lexy2014: 10:14am On Sep 04

Salewa97:
Good news

The Dangote's refinery would help in stabilizing the fuel price in the country. The more competition, the better for the consumers

which price is it stabilizing?

which competition are you talking about?

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Minjim: 10:15am On Sep 04

lexy2014:

which "market forces"? is it market forces tat fixed price of petrol for N897?

who are the "lets" you are talking about?

are dangote and nnpc supporting you?

I'm just tired,
Some people are just plain simple dumb. Look at what that fool just said.

FG, NNPC and Dangote are not on our side. They just wanna make money for themselves

2 Likes

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Standing5(m): 10:15am On Sep 04

tduorhen:
If nnpc selling 895, then the average price across other stations must be above 1000 for sure.

I think we might be back to square one

wait until smugglers raid your N1000 a litre market and sell elsewhere for as high as N1800 equivalent. Then you will know the meaning of square one when s scarcity do you shege.

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by iamtobbi: 10:15am On Sep 04

well alot didnt vote for him and ...

lereinter:

If you didn't vote for tinubu no hardship can withhold you

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lexy2014: 10:15am On Sep 04

Minjim:
We're doomed!

Is this the same Dangote Refinery Nigerians have been praying and waiting to save us ?

na una de waste una time de pray for dangote like say dangote de pray for una

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by enemyofprogress: 10:16am On Sep 04

It is very sheep compared to other places

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Eagleways: 10:16am On Sep 04

Sunmolar:
If nothing is done by FG about NNPC's corruption.... Nigerians to the streets. They're after concealing their ill-conceived daily pms consumptions and subsidy

oga, who is NNPC? Is it not the government? How you reason like this may ?

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by lexy2014: 10:17am On Sep 04

Standing5:
wait until smugglers raid your N1000 a litre market and sell elsewhere for as high as N1800 equivalent. Then you will know the meaning of square one when s scarcity do you shege.

which smugglers?

are these smugglers ghosts?

where do they pass to smuggle fuel?

how do they transport the fuel you claim they smuggle?

why has customs never arrested any of these smugglers at the border?

1 Like

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by ruggedboy01: 10:17am On Sep 04

make boko boys no go throw bomb for there ooooo grin

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Eagleways: 10:17am On Sep 04

Salewa97:
Good news

The Dangote's refinery would help in stabilizing the fuel price in the country. The more competition, the better for the consumers

get out!

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Minjim: 10:17am On Sep 04

Standing5:
wait until smugglers raid your N1000 a litre market and sell elsewhere for as high as N1800 equivalent. Then you will know the meaning of square one when s scarcity do you shege.

Oh wake up !

Who are the smugglers, are them spirits?

People in govt and NNPC are the smugglers. That's why NNPC want to be the sole middleman

2 Likes 1 Share

Re: NNPC Lifts Dangote Petrol, Sells At N897/litre by Standing5(m): 10:17am On Sep 04

IbeOkehie:
Nigerians please pay attention to real market data.

The price of petrol declined significantly on the world market since yesterday by around 6%, ending at $0.5 per liter.

https://www.investing.com/commodities/gasoline-rbob

I did the calculations based on $1 = 1600₦ and arrived at a price of ~ ₦800 per liter. This is the world price of petrol right now.

What this means is that NNPC price of ₦897 contains a TAX or profit of ₦100.

I believe if Dangote is allowed to sell on an open market to ANY petrol marketer he wishes, the price will be significantly below this official price. It's WRONG for NNPC to become a MONOPOLY buyer of petrol from domestic refineries. The reason for this market closure is clear - NNPC can't compete against private companies, just like NTA can't compete against private broadcasters.

Open the market. Pass legislation and TAX fuel sales, be transparent. Sales tax like this is a good thing, there's no need to lie about it.

Good Luck to Nigerians.

Thought it was closer to one dollar for average petrol per litre price.

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