Dangote Refinery Finally Announces Price, Selling At ₦990 per Liter

[@EngrH_ussein]

Mr Jide, as an oil and gas professional, I really salute your understanding and research efforts on how you try to simplify this complicated matters to the average Nigerian understanding. Your submissions are apt.

[@Ajike08]

The same marketer that told us some months ago that the landing cost of petrol is 1,100 are now saying it is cheaper than dangote 990. Something is not adding up here

[@musaadedibu9316]

Absolutely This people atimes just want to make one to rain curses on them, seriously. It's glaring a foul play is surely going on. Where are they getting the fuel? I have a feeling that that same NMDPRA and some marketers are conniving to bring any sort of petrol into the country just for them to frustrate that refinery. The same people who have been saying all sort of nonsenses about the refinery right from the on set. What's all this? This is simply just too frustrating for even we the citizens not to talk of the owners of the refinery. Which kind of disgusting set of human beings are we in this country sef... I just hope dangote finds to right partners outside of this country to ship his product to, leave Nigeria with its problem.. They should continue importing and still be hoping dollar will drop, NONSENSE! Cr@zy set of people!

[@Kaspy756]

Jide is at he's best again, twisting the narrative to favor the establishment, this is unbelievable.

[@kestonagboro4262]

What did we gain? We will gain stability of the naira, we will gain local employment opportunities, we will get better petroleum products for our engines and the fuels will last longer, and we will finally see an end to fuel queues.

[@ipedraipedra]

What kind of country is this? A country few individuals are being ripped out, and the their resources being stolen, still they are happy. They are all together in this game to deceive Nigeria and make the poor.

[@YaaAmend]

So does that make Dangote selling above imported products

[@abdullahiyusuf6520]

@@YaaAmendhow much is the imported pms? Didn’t they tell us it was N1035 recently?

[@Gbalechi]

We should not forget Dangote is buying raw crude oil from NNPC they should lower the price so that he can sell at lower price. That is not too much for government to do for it's citizen

[@Bruglie]

Bro that's is just the point oh. These guys are talking rubbish

[@abubakaryusuf5211]

You nailed it bro. Very simple analysis

[@atiba1930]

Na you help am develop the refinery? He is NOT your FG.

[@BenjaminBarnabas-yz4qu]

I say this over and over again. Why blaming Dangote and not NNPC for selling crude to Dangote at a higher rate and are expecting him to sell at low price?

[@danielesu7747]

@@atiba1930Read again to understand. He’s saying the FG should sell at a lower price so Dangote can sell at a lower price too.

[@adeyemolateef-hi2pv]

Am not an investment expert here but I want to play with figures. 990 per litre multiply by 500m barrel =495,000,000,000. 495billion naira. I stand to be corrected here. Yes dangote is not a father Xmas. Also, I agree their are other cost - salary etc, but for investment that will span a long-term, pms @ 990 per litre is on the high side. There is more to it than we can imagine. Dangote has better understanding of Nigerian economy - market. Until other refineries come into the marketplace Nigerians are in for a bad time. My opinion

[@akinwaledaisi9556]

Uncle Jide the researcher. Thank you for your incisive knowledge. Hopefully, Dangote is listening and Nigerians can be calmer at digesting information and asking the right questions

[@mas-udabdulkareem1002]

I beg what is Babajide saying exactly? Does he want Dangote to sell lower than that? Why is he not emphasizing on the quality of the refined PMS. We should suspect him at this point.

[@onomeonota23]

He needs to defend his dodgy president

[@efepovics6693]

You are asked if price is not the issue what has got to do with you analyzing Dangote production mannerism. Dangote has given the price to the truck. What stopping IPMAN from lifting from Dan., they as IPMAN SAID "trust," so they should address how Dangote can win their trust, not analyzing the dangote business.

[@tobichidobe]

You be fool didn't you hear him say dangote is the best if you want premium then pay the price but at least let have a cheaper option

[@ugooko7569]

@@tobichidobe na you be the fool why the govt no go make their own refinery work

[@victorobomighie2075]

Federal government should stop deceiving Nigeria using Babajide. Imagine the oil God gave us, we are selling same to Dangote at a global price . Federal government should give oil to Dangote to help us refine and we will pay Dangote for the refining cost and sell same to Nigeria at cheap rate. Will government sell crude to Port Harcourt refinary if it was working No wonder they are frustrating the government refinary, so that they can keep deceiving us.

[@binarlih]

These people are just up against Dangote. Nothing to write home from this banter.

[@okesunday8434]

CBN should let the Naira appreciate against the dollar, FG should renovate the 3 or 4 Refineries in Nigeria, and make it function effectively to feed the marketers. This will help subdue all forms of hiking in price.

[@atiba1930]

Otitoju analysis is geared towards favoury his sponsors.

[@martinanekwe1040]

Channels pls try and balance these panel of dicussions. How can u arrange pro marketers alone only to come here and be promoting importation. Who does that? Pls u can do better.

[@olayinkaadeleye3134]

BKO - Dangote blends different grades of crude oil too. Don’t get things twisted. We don’t need to import petroleum products….. Pressure NNPCL to complete maintenance on the four refineries so we have options. Support other players to invest in refining. Advocating for imports is wrong! The price of fuel changes everyday in Houston, Dallas and Vegas. It is usually linked to the oil price. For Nigeria, the cost of PMS will be linked to the oil price and the exchange rate. The best way to stabilize the Naira is to reduce imports and increase exports. Stopping the importation of PMS will go a long way to help stabilize the Naira.

[@Bruglie]

Yes oh

[@taylsunbo1197]

👏👏👏

[@lenkichannel7904]

NNPCL is a complice with the Marketers. Dangote should try to fill in all the supply chain. ( upstream and downstream sectors).

[@rexona1178]

Local refinery guarantee consistent supply and provides direct and indirect jobs to Nigerians.

[@taylsunbo1197]

BKO should please stop all these beer Palour argument. What exactly are you talking about? Why not asked why NNPC has not fixed its refinery as promised? Dangote is not a Philanthropist, but a businessman. Stop being sentimental. We both know the issue.

[@finickymultiworld4600]

Tinubu boys

[@johnbull7719]

Listening to all of these arguments, I have the impression that both Dangote and the oil importers are right. I’m not sure why nobody is solving this problem. Now, we have to keep in mind that petrol comes in categories - regular, mid grade, premium, super premium. What most cars need is just regular petrol. Dangote is wrong in describing regular petrol as substandard. It appears that the marketers have only been importing regular patrol. Now Dangote is probably producing the super premium which only luxury cars need. Unfortunately Nigeria’s fuel stations are only equipped with one petrol tank, so do not have the resources to carry multiple different grades of petrol. The Nigerian public do not have the knowledge of what petrol their cars should need and even if they do, they would likely only buy regular. Now, if you break down the cost of super premium petrol versus regular in the US, it’s usually around 400-500 naira more per liter. So, you Dangote is selling super premium at 990 naira per liter, the importers actually should be able to sell their regular petrol at about 500 naira per liter. So, the easy way for Dangote to solve this problem is to produce more of regular petrol, which cost less to refine, and then he can beat the prices of the petrol importers and put them out of business. However, if Dangote refinery is only set up to produce super premium petrol, then this argument is gonna go on forever. Both Dangote and the importer are probably deceiving the public . Dangote is hiding the fact that he’s not set up to produce regular petrol and wants everyone to buy super premium. The markets are hiding that they have never imported super premium petrol and have been selling one kind of petrol to everyone even to the luxury cars of Nigeria. The filling station providers are hiding the fact that they can’t carry multiple categories of petrol, because they never built the tanks to store them. So guys, let’s keep talking in circles.

[@finickymultiworld4600]

Bunch of journalists liars

[@oluwaseyisubair4426]

Now is cleared that NNPCL and Dangote are the ones playing on Nigerians 😂 Dangote don't want to sell to the IPMAN at same price of NNPCL cos 1. They are afraid of NNPCL. 2. That will starts d competition which will make price drop and that's what NNPCL doesn't want. 😂

[@mayg7415]

Babajide Saudi Arabia imports crude, not refined petrol. No oil producing country is importing finished goods apart from Nigeria

[@YaaAmend]

U lied ...Go and verify ...Saudi do import refine petrol depends on the their local demands

[@davidngeri7451]

Mr BKO you have not answered our question oh! This other nations doe they import PMS or Crude oil? What we are saying here is that we should stop importing PMS if they want to import Crude no problem so long as they will produce it here. Let's not support wrong and come up to call it right.

[@onomeonota23]

@@davidngeri7451 The position of BKO on this matter drives home the assumption that Tinubu is the one fighting Dangote through NNPCL and marketers.

[@taylsunbo1197]

@@onomeonota23 Absolutely

[@taylsunbo1197]

Of what benefits does the so-called Lamboginni crude oil do to any Nigerian? Please save your energy on this topic, we know you are not straight forward on this issue.

[@mayg7415]

Dangote should please open his own filling stations

[@Bruglie]

Abi

[@chineduokeke8659]

Today international price of petrol is $2.02/gallon thats 53 cents, at cbn rate of 1664 per dolkar, it is 885 naira per liter, at black market rate of 1720, it Is 915, he shouldnt be selling more 920 since thats the price he would be selling to foreign companies.

[@johnbull7719]

I don’t think there’s an international price for petrol. Every local market determines its petrol price based on marketing dynamics. But let’s for the sake of argument, say that your calculation is correct. My question for you is- what petrol category are you quoting? Is this regular petrol, Mid grade, premium or super premium? Why isn’t this part of the discussion, that petrol is not one product? Dangote says he’s producing super premium, the importers admit they import regular petrol. Both products have markedly different prices my friend.

[@chineduokeke8659]

@johnbull7719 you are right, Petrol have 3 grades that i know of, there is an international trading price, you can find that out on bloomberg site and other sites.Regular as it is called in US is ok for the Nigeria market.If Dangote can produce the regular for the Nigerian market while he exports his premium that makes sense.Most Nigerians are extremely poor now and cant afford premium

[@oluchukwujamesumeh1233]

Why he's hiding the price for Nigerians until now that marketers said they will sell cheaper than him

[@abdusalammuhammadkole]

why NNPC will not subsidy the crude oil to Dangote so that price can crash.

[@temitopediallo7174]

Fix our own refinery. This is the only way out

[@femiagbebi877]

Seems you guys have been compromised. This analysis is all wrong

[@olayinkaadeleye3134]

Half knowledge can be dangerous

[@b.dasilva431]

You are talking N O N S E N S E.

[@olayinkaadeleye3134]

@@b.dasilva431 Correct! Total bull crap!

[@henrynov1]

The cost of cracking 1 litre is rated in US dollars. Dangote is refining locally and he isn't paying for labor in dollars. Dangote should not do to Nigerians what he is doing to us with cement pricing.

[@weightlossfreak412]

Brilliant

[@BenjaminBarnabas-yz4qu]

Is Dangote the only cement in Nigeria? No body is talking about Lafarge Bua and ibeto?

[@muhyideenabimbola7892]

People will support Dangote based on sentiment and hatred for the government of the day. But the same Dangote was instrumental to the hike in cement price and sugar. Dangote cares no hoot about Nigeria or Nigerians, he only care about his fame as the richest dude in Africa. To get our facts, NNPC should tell us how much it is selling crude to Dangote and the fact remains that Dangote is not just extracting pms from crude, he's also refining dessel, extracting gas and many bye-products for crude.

[@egbujogodwin2605]

Let there be steady electricity and good roads were are ready to buy any price

[@AfabFarms]

BKO said "Which matter" 😂

[@temitopediallo7174]

Nigeria will import crude? be calming down

[@olawaleogunlade8241]

he is still selling at less than a dollar though. crash your dollar rate

[@larryenobakhare9040]

Is dollar Nigeria currency?

[@omosanyaabiodun3760]

The players are all traitors is not better to Nigerians have all varieties available in Nigeria. Because we are import dependent on equipment and other things.

[@johnpaulfaith7266]

Talking nonsense confidently.

[@victorobomighie2075]

Babajide

[@larryenobakhare9040]

Dangote is a criminal

[@ugooko7569]

and your president?

[@SS-sy4uu]

Lol no wonder Africa will can't develop...