LIVE UPDATES
PRICE OF A LITER OF GASOLINE/PMS IN SELECT AFRICA COUNTRIES AS AT MAY 29, 2023...
- Chad-$0.847/N635.00
- Niger Republic- $0.976/N732.00
- Namibia-$1.004/N753
- Liberia-$1.013/N759.75
- Benin Republic-$1.059/N794 per liter
- South Africa -$1.168/N876
- Sierra Leone- $1.093/N819.75
- Ethiopia- $1.123/N842.25
- Togo-$1.141/N855.75
- Ghana- $1.153/N864.75
- Cameroon-$1.195/N896.25
- Congo DRC- $1.227/N920.25
- Tanzania- $1.214/N910.50
- Uganda -$1.328/N996
- Ivory Coast- $1.328/N996
- Kenya- $1.333/N999.75
- Madagascar-$1.339/N1,004.25
- Mozambique-$1.339/N1,004.75
- Rwanda -$1.346/N1,009.50
- Burkina Faso-$1.385/N1,038.75
- Guinea-$1.387/N1,040.25
- Morocco-$1.390/N1,042.50
- Mali-$1.412/N1,059.00
- Cape Verde-$1.421/N1,065.75
- Zambia -$1.424/N1,068.00
- Senegal-$1.614/N1,210.50
- Zimbabwe-$1.753/N1,314.75
- Central African Republic-$2.217/N1,662.75
KINDLY NOTE THE FOLLOWING:
As at 13.54 pm, Wednesday, May 31, 2023, the price of a metric ton of gasoline/pms [ offshore Lome] is $790/ per ton or N441/liter [1ton=1,341 liters].
By the time you add other costs [logistics, handling, finances insurance, admin, etc], the landing price of the Pms at the depot depending on the location in Nigeria will be around N500 - N520 per liter. So, prices at filling stations will range between N520 to N570 per liter anywhere within Nigeria...
The above pricing per liter is lower than that of the other African countries listed above ...
Interestingly, many Nigerians assume that the coming onstream of the Dangote refinery whenever it starts operations [tomorrow or next year], will result in the crash of the average price of the pms.. this is not true or factual. Dangote is a businessman and will sell to other African countries... check their prices above ...He is not Mr. Charity and has never shown himself to be one...
The cost of a 50kg bag of cement in Nigeria is more expensive than what is obtainable in other parts of Africa, where he has plants...
The shipping, handling, logistics, and transport cost of moving the products from the refinery in Lagos to other parts of Nigeria and storage centers will still be there. He will still buy crude oil at the international market rates...
HOW DO WE NAVIGATE THROUGH THE CURRENT REALITIES OF A FULLY DEREGULATED DOWNSTREAM OIL AND GAS SECTOR, [WITHOUT SUBSIDIES], ...IN SUCH WAYS AND MANNER THAT THE EFFECTS ON THE MASSES ARE CUSHIONED...?
1. The FGN must ensure that the foreign exchange market rate is merged so that no system criminal is given undue advantages other another...
2. The three NNPC-managed refineries must be totally Privatized and handed over to other deep-pocketed indigenous private-sector oil and gas players [Not Dangote or BUA]...
3. An open, transparent, accountable, and competitive oil and gas sector will attract massive non-fiscal investments into the Nigerian oil and gas sector, [ across all the streams )
3. The FGN must put in place measures to protect our upstream oil and gas assets to enable us to bring back into the Federation purse the over $ 1.9 billion worth of crude oil that was stolen monthly under the Buhari regime.
4. The FGN and the Governors Forum must meet to fashion out robust PPP arrangements to create production-driven incentives and palliatives to help the masses.
5. Some of the recommendations include, agreeing to keep aside 50% of the extra revenues will acrue into the Federation Account into a pool that will be managed by the Nigerian Sovereign Wealth Authority...
6. A working committee and task force of state and non-state actors, representatives of NSWIA NLC, NBA, NMA, NURTW, etc to manage the funds and borrow against receivables to invest in key and critical sectors of the economy to drive growth and grow the purchasing power parity of the average Nigerian.
The Massive outrage in Nigeria today is because we are used to over 2 decades of the terrible behavior of not accepting and doing our first jobs as citizens of this country. ..
We have refused to collectively hold accountable those, who we rigged and voted in to rule us, because of our penchant and proclivity to quickly relapse into our ethnoreligious closets/ iberiberism. Now everyone will fill the pinch and perhaps, common sense will be knocked into a majority of us going forward
Let's all join to totally Slay CORRUPTION AND INSECURITY in Nigeria
NIGERIA is easily salvageable...
