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FuelFact's FuelPay Winning The Future for Downstream

FuelFact's FuelPay will disintermediate many payment systems in the consumer downstream sector because it is end-to-end, from the Forecourt Automation (FCA) to Wetstock Management (WSM) Systems , all integrated in one ecosystem. 

We track fuel from the depot to storage to dispensing, giving you visibility which has never existed in the energy sector in Nigeria and Africa. Very soon, your popular bank app will have a FuelPay option. FuelFact fuelfact.com/ is a Tekedia Capital https://capital.tekedia.com/ portfolio company. 

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Comment 1: This was just a promo right? I ask becasue she only put 2.7 litres of fuel into her vehicle - who puts so little? Also, 185N per litre is $CDN0.55/ litre - wow that’s inexpensive. Here we are at $1.68 Canadaian or about 569N / litre in Ontario….it’s $CDN 1.98 today in Vancouver- that’s 671N per litre!!!!!

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My Response: xx you just did a World Bank analysis and extrapolated on it to come with a really way-off conclusion. Min wage in Nigeria at state level is N18,000 which is about $25 monthly. That is not up to a two-hour wage using Canada’s minimum wage in some major cities.

I can also look at it from another angle. Canada's per capita is about $52,000 USD; Nigeria is about $2,000. When you run that you can see that she is spending money!

But note that money is not CREDIT unlike Canada where someone can pay with a credit card. If we have a balance sheet with assets and liabilities, a typical Nigerian may do better than a Canadian. Of course, that is not how life runs. The issue here is clear: my kinsman in Ovim may not have $20 but can live because there is no bill to bother, meaning that any $4 is an asset with no liability where someone in Canada who earns $300 may have liabilities of $2000 hanging on his head.  (Just like making fun on Canada, lol)