The connection between fuel price increase, Dangote Refinery, Libya and Exchange Rate. 

THANKS MEN,GOOD WORK.

Nigeria conservatively uses 40m litres of gasoline per day. Dangote will be producing 25-30m. So Nigeria will be importing for some time yet assuming he even gets crude from the lying NNPC. About fx demand, taking 25m litres per day out by nairalizing prices is about $500m per month which is about 17% of fx demand per month. Like you said the major problem feeding into inflation and consistent depreciation is monetary looseness.

So you see, these things as complex as they might seem are very simple. To make this inflation dip. Fg should do the following. 1. Sell 9:55 oil to Dangote in Naira. 2.Dangote should pay the total cost of the purchase to the FG. 3. Then Dangote can sell he's petrol to who ever wills in Naira. 4. NNPC should repurchase the petrol products they want in Naira. 5. By this the FG has allowed for full deregulation. 6. The NNPC should ramp up exploration and production of crude b another 1m barrels. 7. Sell crude now in forward sales before the Trump Admin ramps up supply. By this, the NNPC has secured funds. 8. The FG should cease to import any petroleum products from abroad and tariff anyone that does so. 9. Reduce the tariffs on the importation of goods by customs to allow the petrol effect to kick in and stabilise the Naira. The above will do the following. 1. It will allow for internal dependency for local currency. That's a huge economic boost. 2. Production will increase in huge proportions, further opening up the blue collar sector. 3. There will be a drop in inflation due to the above. 4. Should lead to government dropping interests rate by @least 10 per cent. To about 22% Watch the economy skyrocket.😊😊

But they said they withdrew subsidy. Dangote refinery? Government refineries??? Isn't it obvious a particular sect is leveraging and feeding large on the lapses? If we have the crude oil and refinery, why this nightmare?!

The fuel price issue is an eyesore and parthetic

N1,150 per liter in Jos.

Bro. Dangote did a secret you did not mention. When he said he will be in markets by Thursday, he did not say he would hold supplies until paid for the inventory. He has become another Nigerian govt creditor and is willing to give the country a loan to get oil and gas into peoples cars despite the risk the govt will not pay him right away. He is floating a loan to the entire country despite disorganization.

Any effect on stock market?

This is an improvement in things sort of, at least they admitted the cover up (even though they where forced to) as opposed to them telling lies. What in my view should happen now is to make sure that the other refineries work .why ? because what is plaguing Nigeria is not currency weakness(that is just a symptom) but low productivity especially where there is comparative advantage Oil & Gas, palm oil ,cocoa etc. . However I expect more economic pain for everyone in the next at least 12 months

If we have the fuel prices increase what is going to be done on the minimum wage that was stipulated to be #70,000

@nairametrics is a deregulated fuel market in Nigeria a good or bad thing for consumers??

So anyone with obligations in dollars should meet them early enough right?