Good, government must order all ministries to quote budget and invoice in naira. All products being sold inside Nigeria to Nigerians, or to businesses in Nigeria must be sold in naira. Anyone quoting invoice in dollars or pricing in dollars in Nigeria should be sanctioned. We are the ones hyping the dollar, this value of dollars is not real.

To get the cooking gas to the streets, woo Nigerian bulk buyers to buy from you in Naira.

Establish NLNG gas stations in Nigeria

sulaak:


That explains it. Thanks

However, Ajaokuta and Alscon were privatised by the OBJ government and failed to the point that the government had to pay the Indians $ 500 million (shared with Malami) to release the steel plant. Privatisation cannot work if the country doesn't have effective civil services.

ALSCON I don't know the details, but I bet if it's researched you will find that government is to blame for whatever failures there.

On Ajaokuta however, I know what went on there. As in I know very well. The ONLY time Ajaokuta was ever productive was when it was owned by the Indians of GIS Steel. However a certain local politician kept asking them for payments and other favors just because they were in his "domain". I know the politician well, I met him a few times and talked to him. At a point GIS refused to pay and the politician sponsored riots that damaged their the facilities and the Indians pulled out. A man lost his life at that time, the guy was beheaded. This I know for a fact, I know the Indians personally. The politician in question is now in elected office. That is how I know Nigeria isn't going anywhere good for a loooooong time, unless there's drastic intervention.

On the whole, the REAL question is why Nigerian government should have EVER been or remained owners of any productive resources or commercial entities. Why should anything be subsidized or price regulated? That's the real problems.

See the kinds of questions people are asking about basic Nigerian economic policy and structures. This NLNG thing is very revealing. Ibrahim Babangida is the most unpopular President of Nigeria, yet it was his SAP policy that saved Nigeria from complete economic breakdown. Every single productive sector in the formal economy has been a success because of SAP, while all the sectors not subjected to SAP are completely unproductive.

What is the 2nd largest export earner in Nigeria after crude oil & natural gas? It's cocoa. Well it was IBB that saved the cocoa farms of Nigeria through SAP. Anyone doubting me should simply go do the research. The Yoruba are the biggest beneficiaries of cocoa yet they hate IBB because they've reduced his whole legacy to June 12 1993 and Abiola's Mandate. Well yes the cancelling of the elections was wrong but a more balanced view would be more helpful for anyone trying to make Nigeria a better place to live.

Nigerians - especially University educated Nigerians - are woefully ignorant. Their ignorance is staggering. Another reason why there's little hope for that country. A country where the majority believed the 2014 APC campaign slogan "there is nothing like fuel subsidy, fuel subsidy doesn't exist". They actually elected that party to control their government and they're surprised by the economic outcomes since 2015? Tell me another thing.

Good Luck to Nigerians

jurjes:
To get the cooking gas to the streets, woo Nigerian bulk buyers to buy from you in Naira.

Establish NLNG gas stations in Nigeria

I'm not sure NLNG can legally sell gas inside Nigeria. Domestic gas belongs to NGC

Good Luck to Nigeria

He

NinjaMetahuman:
that's crude oil, not gas.

Gas is domestic.

Raw untreated gas is priced domestic? What’s the price of 1mmscf of gas in Naira please?

RenaissanceGuy:
Good. There was no sense selling it in dollars in Nigeria in the first place. So, when is it going back to around ₦6000 for 12kg cylinder??

Probably when NLNG can produce over 5 million MT

RenaissanceGuy:
Good. There was no sense selling it in dollars in Nigeria in the first place. So, when is it going back to around ₦6000 for 12kg cylinder??

You're completely wrong. That's okay though.

Good Luck to Nigeria.

Paraman:
A very good move by the tinubu administration. The next is for Nigerians to be able to buy crude within Nigeria in naira.

This has NOTHING to do with Tinubu. NLNG is a private company that govt has a stake in. It's operations are not directed by govt, and govt does not get to appoint it's management team. That is why it's a successful company that actually delivers to the Nigerian economy, unlike the corruption driven NNPC

bjdon:

This has NOTHING to do with Tinubu. NLNG is a private company that govt has a stake in. It's operations are not directed by govt, and govt does not get to appoint it's management team. That is why it's a successful company that actually delivers to the Nigerian economy, unlike the corruption driven NNPC

The FG is the majority share holder in NLNG.
since NLNG was incorporated as a limited liability company on May 17, 1989, they have been selling gas to Nigerians in US dollars.

They are selling in naira to Nigerians now because of the intervention of the Tinubu administration.

What's happening has everything to do with Tinubu led FG administration.

Paraman:
The FG is the majority share holder in NLNG.
since NLNG was incorporated as a limited liability company on May 17, 1989, they have been selling gas to Nigerians in US dollars.

They are selling in naira to Nigerians now because of the intervention of the Tinubu administration.

What's happening has everything to do with Tinubu led FG administration.

It's very interesting how Nigerians hold so many factually wrong views about their country. On topics ranging from why Nigeria is a unitary state, who owns land, existence of fuel subsidies, what political system holds sway, the vast majority of the citizens have no idea. Which is OK, but what about the university educated fraction and also the elites? They're no better.

The Nigerian government owns 49% of NLNG, while a consortium of private companies own the majority 51% stake. The Federal Government thus has little control over NLNG.

Another company with similar structure is Indorama, which is the former Nigeria Petrochemical Company Eleme. Federal Government owns only 5%. Indorama has been wildly successful, it even exports fertilizer from Nigeria. At some point during around maybe 2005 or 2011, I forget the year really, there was a bill sponsored in the National Assembly for government to take back Indorama. The employees rioted and the plan was dropped. Like most things that show the futility of government ownership and socialism in general, the story made very little news and mostly was not reported on.

Paraman:
The FG is the majority share holder in NLNG.
since NLNG was incorporated as a limited liability company on May 17, 1989, they have been selling gas to Nigerians in US dollars.

They are selling in naira to Nigerians now because of the intervention of the Tinubu administration.

What's happening has everything to do with Tinubu led FG administration.

Not quite in the way you think. It's happening for the same reason subsidy on petrol and forex has been drastically reduced. The Federal Government has no choice in the matter, the policies of the last decade of APC government has bankrupted Nigeria. So we can commend President Tinubu for doing what he had to do, nothing more. He has no choice.

You're welcome.

Good Luck to Nigeria.

Savedday2:
They are selling in Naira, but why is the price of cooking gas increasing?

Pls, anybody with reasonable explanation should help.

They are about selling in naira now.

IbeOkehie:


It's very interesting how Nigerians hold so many factually wrong views about their country. On topics ranging from why Nigeria is a unitary state, who owns land, existence of fuel subsidies, what political system holds sway, the vast majority of the citizens have no idea. Which is OK, but what about the university educated fraction and also the elites? They're no better.

The Nigerian government owns 49% of NLNG, while a consortium of private companies own the majority 51% stake. The Federal Government thus has little control over NLNG.

Another company with similar structure is Indorama, which is the former Nigeria Petrochemical Company Eleme. Federal Government owns only 5%. Indorama has been wildly successful, it even exports fertilizer from Nigeria. At some point during around maybe 2005 or 2011, I forget the year really, there was a bill sponsored in the National Assembly for government to take back Indorama. The employees rioted and the plan was dropped. Like most things that show the futility of government ownership and socialism in general, the story made very little news and mostly was not reported on.



Not quite in the way you think. It's happening for the same reason subsidy on petrol and forex has been drastically reduced. The Federal Government has no choice in the matter, the policies of the last decade of APC government has bankrupted Nigeria. So we can commend President Tinubu for doing what he had to do, nothing more. He has no choice.

You're welcome.

Good Luck to Nigeria.

Bless you!
It's so refreshing to read posts from an informed and knowledgeable person. The poster who was challenging what I said, really made me laugh with his ignorance. My brother worked with NLNG some years ago, so I know about the company very well.

airsaylongcome:
He

Raw untreated gas is priced domestic? What’s the price of 1mmscf of gas in Naira please?

only crude oil has global price thanks to open.

Gas doesn't have global price. You sell at convenient price.

Raw materials general have average prices world wide. E.g raw iron, gold, natural gas, lithium, cobalt etc. but they are not subjected to standard price like crude oil.

NinjaMetahuman:
only crude oil has global price thanks to open.

Gas doesn't have global price. You sell at convenient price.

Raw materials general have average prices world wide. E.g raw iron, gold, natural gas, lithium, cobalt etc. but they are not subjected to standard price like crude oil.

Quite a useful take as long as you understand there's a difference between convenient price and free market price.

Unfortunately the price of natural gas in Nigeria is REGULATED, not free market. It's CONVENIENT in the sense that you can be jailed or forcibly bankrupted for selling at your chosen, free market price.

bjdon:

Bless you!
It's so refreshing to read posts from an informed and knowledgeable person. The poster who was challenging what I said, really made me laugh with his ignorance. My brother worked with NLNG some years ago, so I know about the company very well.

My friend I can't express to you how very disappointed I am with Nigerians. Look at another comment here

Nbote:
The government and the NNPC have always been an evil entity and this confirms it. How can you produce cooking gas here in the country and knowing fully well that all you produced is consumed by Nigerians, you somehow sell to the same Nigerians using current dollar rates to the naira. Isn't that wickedness

How can Nigerians be this oblivious about their economy and how it works? Na juju or wetin? Simple things!!! I tire 😫

Who do Nigeria this thing abeg? I've met multiple Nigerian University graduates with business degrees who didn't know what VAT means.

My simple test for the competence of a Nigerian lawyer is to ask them who owns land in Nigeria or if an individual can own land. Most of them, I mean over 99%, don't know the answer.

Nigeria is a country where the vast majority think that SAP is a bad policy when the EVIDENCE is that it saved Nigeria.

Nigeria is a Zoo.

Good Luck to Nigerians.

NinjaMetahuman:
only crude oil has global price thanks to open.

Gas doesn't have global price. You sell at convenient price.

Raw materials general have average prices world wide. E.g raw iron, gold, natural gas, lithium, cobalt etc. but they are not subjected to standard price like crude oil.

Still didn't answer the question about 1mmscf of Raw gas in Naira

IbeOkehie:


Quite a useful take as long as you understand there's a difference between convenient price and free market price.

Unfortunately the price of natural gas in Nigeria is REGULATED, not free market. It's CONVENIENT in the sense that you can be jailed or forcibly bankrupted for selling at you chosen, free market price.



My friend I can't express to you how very disappointed I am with Nigerians. Look at another comment here



How can Nigerians be this oblivious about their economy and how it works? Na juju or wetin? Simple things!!! I tire 😫

Who do Nigeria this thing abeg? I've met multiple Nigerian University graduates with business degrees who didn't know what VAT means.

My simple test for the competence of a Nigerian lawyer is to ask them who owns land in Nigeria or if an individual can own land. Most of them, I mean over 99%, don't know the answer.

Nigeria is a country where the vast majority think that SAP is a bad policy when the EVIDENCE is that it saved Nigeria.

Nigeria is a Zoo.

Good Luck to Nigerians.

Please help to educate them where you can. The less ignorant the population, the less easy they can be manipulated

Savedday2:
They are selling in Naira, but why is the price of cooking gas increasing?

Pls, anybody with reasonable explanation should help.

this news is of today , and not before now , plus the ones stocked by retailers will finish before buy ingredients the new price

IbeOkehie:
Those asking why NLNG sells in dollars...it's a matter of law and regulation. I'm not sure of all the particulars, but generally there are two legal kinds of gas in Nigeria -

1) Domestic or domgas

2) World gas

NLNG was formed to service the world market Because NLNG is controlled by PRIVATE investors AND the world market price of natural gas is UNREGULATED, the company has been a great success. NLNG has been the most profitable company on Nigeria for decades.

Side note - it was President Babangida that put the reforms in place to make NLNG possible. It was supposed to be a fully owned Nigerian government company but IBB chose PRIVATE led investment structure as under SAP policy.

There's a 100% Government owned company called Nigeria Gas Company that handles the DOMESTIC GAS market, which is is PRICE REGULATED and subsidized. They're the ones who are supposed to supply cooking gas at a subsidized and affordable price. 🙄

Do I need to say any more? Nigeria Gas Company is an inefficient, corrupt and moribund entity just like every other thing owned by government.....Ajaokuta Steel, Federal Universities, NIPOST, NNPC , Federal Mortgage Bank, TCN that suppresses electricity supply...and on and on.

It appears that NNLG is taking over the functions of NGC. Socialism, price regulation, subsidies and government ownership is KILLING NIGERIA.

The ONLY solution to the Nigeria Crisis is FREEDOM...frre markets, socio- economic and political freedom. That's all. Do it or die, nobody is begging you.

Good Luck to Nigeria.

It’s refreshing to read your inputs on this space.
I have gained some good valuable knowledge and insights doing so.

Thank you.

wwwtortoise:


It’s refreshing to read your inputs on this space.
I have gained some good valuable knowledge and insights doing so.

Thank you.

More important is this - if anyone is interested enough to appreciate all this boring stuff, it logically means you should do your own research to make sure I'm giving true info. This is a starting point for anyone to go deeper and correct me where I'm wrong, so that I too can learn.

IGNORANCE is killing Nigeria or should I say ignorance has killed Nigeria. My own concern is that so many Nigerians and other 3rd World socialist minded people are migrating to the USA and bringing their ignorance, illogicality and bottom lazy thinking with them, things that motivated me to leave Nigeria. So there's no escaping the fight for reason, the battle continues.

Good Luck to Nigeria.

jamesversion:
Sometimes I wonder what those of us living in Port Harcourt gain from this city. NLNG and Port Harcourt refinery is in PH, yet the prices of petrol and gas is even higher than some states in Nigeria.

Talk to your Governor ...... I still wonder what the Governrors do for the welfare of their people

sunnyprof:


Talk to your Governor ...... I still wonder what the Governrors do for the welfare of their people

Na my governor dey control NLNG and PHRC?