NewStats: 3,262,179 , 8,176,347 topics. Date: Sunday, 01 June 2025 at 08:01 AM v1v3p

Er

kokoA:
with 80 billion naira balance.

still collects billions for TAM still yet the refineries ain't functioning

DeLaRue:
Given that the price of crude oil has been averaging around $65 or less per barrel for nearly a month, I would have expected petrol price to fall significantly more than it has done.

If petrol price can't go to around N750 when crude oil price has fallen so much, that's a bad sign.

It means petrol price in this country will probably not fall to N700 for several years to come.

Makes sense but the Naira is not doing great right now unfortunately

Gasoline futures today are $2.14 per gallon or 53.5 cents a litre

It is an international product quoted on exchanges everywhere

Originalsly:


How much were you expecting it to drop to? ....and why? Crude price dropped and he dropped the price ... you're not contented ...he should've dropped it a lot more. How about the price of transport fares?... did they even drop?...or dropped to your expectation?

Dangote .... *monopoly " ... I'm not seeing this word following his name again.

Tbh with you. Transportation never dropped despite reduction in fuel prices.
The funniest thing is, the government owned transportation did not drop too lol.
Brt prices are still high. So it's just more gain for motorist at least.

treesun:


https://www.vanguardngr.com/2025/05/breaking-dangote-refinery-slashes-petrol-gantry-price-to-n825-per-litre/

What is petrol gantry

slash should be 500 or below.

people should stop being stupid

Honestly it should be lower than this. With the drop on crude price. Petroleum shouldn't be more than #750/liters for now.

carzeem1:

Emiefile starved the economy of dollars to make sure Dangote supply wasn't affected at federal government subsided rate
Refinery complete, Baba says he is only selling a prevailing international market rate.

No agreement was signed with him when he was using our commonwealth to build his own empire

If business is not easy as most of Dem say in Nigeria...


Dem think Dangote no get sense e go don find a better country Africa country go to go build the refinery abi Wu wan du business on leverage of loosing...


Something he even do here most countries will not tolerate it....


You can see in some Africa countries his company faces some hurdles dere buh he knows here they can easily solve his case through political means....

DeLaRue:
Given that the price of crude oil has been averaging around $65 or less per barrel for nearly a month, I would have expected petrol price to fall significantly more than it has done.

If petrol price can't go to around N750 when crude oil price has fallen so much, that's a bad sign.

It means petrol price in this country will probably not fall to N700 for several years to come.

How can it fall significantly when you have an xchange rate hovering $1/1500

imagine $1/500 or lower

its left to FG to take steps that will strengthen th naira. its sad our fate depends on irresponsible leaders.

Tinubu that one just became president to turn Nigeria to baba sope republic

Dangote sef no dey do well. With naira for crude deal still fuel price is still high. N wa o. #700 or #750 / liters on the average still sounds better.

We run a crude oil economy where fuel prices determines reduction in product and services.

Amayanabo01:
and they have managers.

The managers have been sacked recently

EPIJOE:
Dangote sef no dey do well. With naira for crude deal still fuel price is still high. N wa o. #700 or #750 / liters on the average still sounds better.

We run a crude oil economy where fuel prices determines reduction in product and services.

What difference does Naira for crude make? Does it make the Crude cheaper than if he had paid dollars? If so by what factor?

.. Nigeria na scam...

Amayanabo01:
and they have managers.

Amayanabo01:
and they have managers.

They also have thousands of staff on regular juicy salaries

DeLaRue:
Given that the price of crude oil has been averaging around $65 or less per barrel for nearly a month, I would have expected petrol price to fall significantly more than it has done.

If petrol price can't go to around N750 when crude oil price has fallen so much, that's a bad sign.

It means petrol price in this country will probably not fall to N700 for several years to come.

Quite agreeable.

Menclothing1:
The reason why I love this is that when Buhari sold imported petrol for 400 the 1 lit can’t do what dangote 900 is doing
The colour less petrol makes engine operation better and oil is lasting

lasting does not lessen the cost effect on the pocket lets be realistic

About last week our transformer spoilt, had to depend on gen, coughing out 4k per day just to keep things in the freezer preserved ... still pain me till now

A 4k fuel is barely 4+ liter runs on my gen for 7hrs .. 20k a week on Gen, if you are not running business is crazy to me.

Do you know what exactly is slashed

Slashed is like when he sells for 435 naira this is slashing something half of the main price

I don’t understand why things like this are considered news. We already have websites and apps that track real-time fuel prices at filling stations across various locations. That’s exactly what we need in Nigeria. The average motorist wants to know the current price at nearby stations — not what Dangote is selling. Abi I lie?

treesun:


https://www.vanguardngr.com/2025/05/breaking-dangote-refinery-slashes-petrol-gantry-price-to-n825-per-litre/

So N10 is slash again? So simple 'reduce' no suffice.

DeLaRue:
Given that the price of crude oil has been averaging around $65 or less per barrel for nearly a month, I would have expected petrol price to fall significantly more than it has done.

If petrol price can't go to around N750 when crude oil price has fallen so much, that's a bad sign.

It means petrol price in this country will probably not fall to N700 for several years to come.

On what basis should petrol have fallen to N750 based on the current price of crude which is about
$63? What level of knowledge on crude pricing and petrol Dynamics do you have??

500 per litter would be more like it

He should take it back to 970!
Nonsense reduction

DeLaRue:
Given that the price of crude oil has been averaging around $65 or less per barrel for nearly a month, I would have expected petrol price to fall significantly more than it has done.

If petrol price can't go to around N750 when crude oil price has fallen so much, that's a bad sign.

It means petrol price in this country will probably not fall to N700 for several years to come.

We are yet to have the tools to do what you expect. This is the simple reason why commodity markets and exchanges exist abroad. To take the pricing decisions out of the hands of producers and/or consumers in finding a relatively stable, predictable template anyone can access.

And not only for petroleum products but agricultural products, mining and some categories of industrial products.

Where there is a market there are opportunities for people to speculate, hedge and stock, all these leading to a more stability for both producers and consumers, a more predictable state of affairs.

PHUCK YOU TWO!!!!

NNPC right now

No one is feeling the impact of all this. Transportation price hasn't come down, not even other essential food items or building materials.

Nigeria is a difficult country and you can't understand what's going behind because corruption is too much.

tollyboy5:

NNPC that should be competing with Dangote are deceiving themselves.
Dangote is reducing price due to import. Had it been there's no importation then we're doomed.
If heads do not roll in NNPC for ability of our non working refinery despite the huge amount of money spent. Then this government is not what we needed

We borrowed from Nigeria's future to pay for that refinery rehabilitation with nothing to show for it.
Over $2.97 billions gone down the drain and we still have to service that loan with future crude oil

yarimo:
This is very commendable from dangote, meanwhile the bitter ones will soon invade this thread with unpatriotic comment

What's commendable here?

Mtchweee 😔

Dangote keeps slashing prices but their d retail outlets never do so, MRS lugbe Abuja besides ShopRite has been selling at 910 naira till this point, MRS management kindly make official clarification please

With all the slashing e still dey 800 Naira

I hope same rule applies to INNOSON.

Nigerians are allowed to speak for n against it as thag is not patriotism abi this your rule is only applicable to Dabgote because he is not Igbo.

Stayingalive:

Dangote is a private entity. Speaking for or against it isn’t patriotism in the practical sense.