Following this from the Caribbean. A Win For Nigerians, a win for Dangote is a win for Africa and win for the Caribbean and all melanin people. Its time we champion a strong Pan Africanist movement. Sacrificing and entire country on arbitrary tribal superiority is just foolish. Black should be brothers period. We need to put country first over foreign and that of local corrupt entities.
Considering that the cost of producing crude from Nigerian oil wells is denominated in Naira, it obviously makes perfect scene to sell such to Nigerian refineries also in Naira. OPEC determines international oil pricing based on supply, demand and political grounds and those ought not to have any effect on domestic transactions. Hopefully this committee will put regulation in place that those refineries benefiting from this naira pricing must sell to the Nigerian public a certain percentage of their refined products also in naira, and what percentage they can export. This is how vudu economics can be prevented.
The cost of Crude oil Production in Nigeria is 90%denominated in Dollars . All the Equipment/Supplies and materials are all sourced in Dollars. The only Naira component is Nigerian Labour and security.
This is a breakthrough in our local refining capacity that has been a long time coming. Going forward, all our refineries, the newly established Dangote refinery included, should benefit from this long awaited FG initiative. This way, the domestic price of PMS will be insulated from the vagaries of international oil market and lead to huge savings of petrodollars for the FG, revenue that would have been lost in importing refined products. Truly, subsidy payment was never Nigeria's problem as was being bandied by the present administration as its removal never did much to improve govt revenue or translate to a healthier fiscal regime. One only hopes that this is not a knee jerk response to the anticipated protest against bad governance resulting in extreme hunger of the scale not seen since the end of the civil war, but one in a series of sincere and sustained govt intervention designed to make life more abundant for the average Nigerians.
Thank the protesters, Tinubu had no intention to do that before now, the the # endbadgovernanceinnigeria forced him to have a change of mind, the protest has already yield a positive result, shame to those who oppose the the planned protest on August 1st 2024.
Lack of vision. Adhoc and Reactionary move. Govt should have preempted the current fuel scarcity and dangote scandal by coming out with a comprehensive policy months ago. What plans did they have that local refineries provide Nigerians with fuel?
@@tracyjacopin4325Look at someone who has just spoken like an animal calling another person animal. Animal better pass you sef because animal no go talk like mumu.
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Following this from the Caribbean. A Win For Nigerians, a win for Dangote is a win for Africa and win for the Caribbean and all melanin people. Its time we champion a strong Pan Africanist movement. Sacrificing and entire country on arbitrary tribal superiority is just foolish. Black should be brothers period. We need to put country first over foreign and that of local corrupt entities.
Dangote is a criminal, stop celebrating with him, he collaborated with past governments to destroyed this country.
Nigeria has always been a trendsetter Well Done and Respect from SA 👌🏿🙏🏿👏🏿
Way to go nigeria..❤❤❤
This is good news. I just hope the usual vudu economic constraints do not prevent Nigeria from reaping the benefits.
Great
"PRESIDENT 🇳🇬 JAGABAN & HIS GOVT; AWESOME RESOLUTION VIA DIVINE WISDOM." ❤🇬🇧 ❤
Savings of 7.9 billion dollars not 79million dollars
First good news in 2024. I am waiting to hear from papa Dangote
The first thing Tinubu's adminstration has done right!
Local government autonomy and the student loans are also good introductions.
Considering that the cost of producing crude from Nigerian oil wells is denominated in Naira, it obviously makes perfect scene to sell such to Nigerian refineries also in Naira. OPEC determines international oil pricing based on supply, demand and political grounds and those ought not to have any effect on domestic transactions. Hopefully this committee will put regulation in place that those refineries benefiting from this naira pricing must sell to the Nigerian public a certain percentage of their refined products also in naira, and what percentage they can export. This is how vudu economics can be prevented.
The cost of Crude oil Production in Nigeria is 90%denominated in Dollars . All the Equipment/Supplies and materials are all sourced in Dollars. The only Naira component is Nigerian Labour and security.
@@tayolaborn7866the main resource crude oll at least is now transacted in Naira. That's a good news for us Nigerians
This is a breakthrough in our local refining capacity that has been a long time coming.
Going forward, all our refineries, the newly established Dangote refinery included, should benefit from this long awaited FG initiative. This way, the domestic price of PMS will be insulated from the vagaries of international oil market and lead to huge savings of petrodollars for the FG, revenue that would have been lost in importing refined products.
Truly, subsidy payment was never Nigeria's problem as was being bandied by the present administration as its removal never did much to improve govt revenue or translate to a healthier fiscal regime.
One only hopes that this is not a knee jerk response to the anticipated protest against bad governance resulting in extreme hunger of the scale not seen since the end of the civil war, but one in a series of sincere and sustained govt intervention designed to make life more abundant for the average Nigerians.
Nice
Good idea papilo, more Grace, our politicians are not thinking even to up grade our hospital
Good one from Tinubu. Well done!
Thank the protesters, Tinubu had no intention to do that before now, the the # endbadgovernanceinnigeria forced him to have a change of mind, the protest has already yield a positive result, shame to those who oppose the the planned protest on August 1st 2024.
Didn’t hear what the 7.9Billion will be used for.
Better
Glory be to God,for the light of the day
Good development Mr. President....
Lack of vision. Adhoc and Reactionary move. Govt should have preempted the current fuel scarcity and dangote scandal by coming out with a comprehensive policy months ago. What plans did they have that local refineries provide Nigerians with fuel?
Allah ubangiji ka sakawa DANGOTE. MUNA GODIYA BABA ALI
This is what we want, we aren't USA slave
This is just another short-sighted PR and currency regulation power abuse by the Tinubu regime.
Now, my vote goes to APC sorry for the bad tribalism words I made in the last video.
Yoruba government!
Way better than ipob government, way better than the government of the children of hate, envy and anger, aka ndi igbo.
If they find out where you reside it will probably be that yoruba land that you hate
Thats also a good move to boost the naira.. because you will be saving around 20 billion dollars annually.
Thiefnubu the copy cat
Oh be quiet and go protest in silence somewhere else
@@gideonworship6124 animal talk Don start again
Ipob mugu, aka ndi igbo, aka children of envy hate and anger, who did he copy from? Ode.
@@tracyjacopin4325Look at someone who has just spoken like an animal calling another person animal. Animal better pass you sef because animal no go talk like mumu.
@@tracyjacopin4325who swear give una Abeg😂😂 How huma being go just get dis kind evil mind😂😂