Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,020 members, 7,956,783 topics. Date: Monday, 23 September 2024 at 06:47 PM |
Nairaland Forum / Nairaland / General / Politics / Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers (26110 Views)
Fuel Scarcity: FG Intervention Temporal, Queues Will Resurface – Stakeholders / Power Scarcity, Fuel Scarcity: FG Appears Lost - Vanguard / Fuel Scarcity: FG Should Legalize Illegal Refineries - Murray-Bruce (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:26am On Apr 30, 2015 |
XBLadez: What is Ghana's ranking in oil production and what is Nigeria's ranking? 3 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:30am On Apr 30, 2015 |
Burger01: now that was the right question because from his body language, he is basking in the Euphoria of "Govt is stup!d all the time" 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 10:36am On Apr 30, 2015 |
tete7000: ^^^^ The key question I have asked several times is this: what are the unit costs per litre of producing and refining petroleum products here in Nigeria? Is there a subsidy on local drilling and refining of petroleum products in Nigeria? That is the question on which everything else turns but the authorities have refused to provide an answer. If petroleum companies can drill and refine locally, add margins for distribution and profits, etc., and all this comes to less than the pump head price of N87 or whatever then there is NO subsidy. Period. Your comments about petroleum marketers buying products and having their money tied down (while waiting for subsidy reimbursements) are for those who import refined petroleum products. Once the true cost profile of domestic drilling and refining of petroleum products becomes public knowledge then the scales will fall off our eyes. Even on this thread, some fellow has admitted that there is no subsidy on local drilling and refining. What does that tell you? You raise an important point about the eleven private refineries that were licensed and yet never started operations. It would be interesting to know if any or all/some of these licensees are currently involved in petroleum products importation. What reasons have they given for failing to start operations? Has the government asked why? Have they failed to start operations because these licensees have their eyes on the extremely profitable PMS importation racket - a racket that will disappear if the government were truly serious about ending it (by building refineries itself)? We were told some years ago that the market for kerosene and diesel had been completely deregulated. Yet in the intervening period we have had scarcity of both diesel and kerosene - products which had supposedly been fully deregulated. How do you explain that? All over the globe, petroleum products prices have been declining at the pump head because of the fall in crude prices. What do you have to say about the price of diesel and kerosene in Nigeria - why have they not fallen in line with the rest of the world? 3 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by tunex777: 10:42am On Apr 30, 2015 |
LOWEST MTN DATA AT THE CHEAPEST PRICE. MTN 2GB - #1000 MTN 4GB - #1800 CALL/WATSAP TUNDE ON 08162637076 FOR THOSE THAT STAYS IN IBADAN ALONE FOR DELIVERY AT YOUR DOOR STEP |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:43am On Apr 30, 2015 |
KEVIND: The masses (myself and organisation inclusive) fought for it not because we don't know that it is no longer sustainable but for the express reason that Jonathan lied to Nigerians. Do you expect me to pay for Govt's inefficiency? Few of those lies are; **Subsidy is paid on imported products ONLY whereas subsidy is equally paid on locally refined products. **The oil importers want the subsidy to stay (cabals) whereas the oil importers are praying daily for subsidy to be removed. **He lied that Nigerians are not benefitting from the subsidy (in the real sense, Nigerians living in places where Govt has failed were not benefitting eg SE. **He lied that if subsidy is removed, competition amongst importers will drive the price down. (AGO subsidy removal actually put him to shame on this one) ** He lied that building new refineries will end the import regimen, (we are still asking why those refineries were not built, guess he now knows what we know). ** He lied that individuals will never build refineries if subsidy is not removed. (Dangote and Ibeto have put him to shame on this one). In the face of these lies, no sane Nigerian will support subsidy removal. 3 Likes 1 Share |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by 989900: 10:46am On Apr 30, 2015 |
VolvoS60: Well said, though any business man in their shoes would likely not build refineries, when they already make probably many folds 2 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 10:46am On Apr 30, 2015 |
jpphilips: ^^^^ I have not said locally refined products should or should not attract a subsidy. What I have asked for is the cost profile of domestic/local drilling and refining - information which has suspiciously remained inaccessible to Nigerians for far too long. The current price of PMS at the pumphead is N87. If all costs of domestic/local production and refining plus a markup is less than N87, then where is the subsidy? The information we need to have is the cost of producing and refining a litre of PMS locally. Is it more than, equal to, or less than N87? That's all I'm asking for!!! 2 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:47am On Apr 30, 2015 |
VolvoS60: AGO has been deregulated DPK still attract subsidy. |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:50am On Apr 30, 2015 |
VolvoS60: The information you are asking for is surprising because every Nigerian who care have it, now let me answer it for you. The oil we send to our refineries, (let us even assume they are working optimally, for the sake of argument) where does it come from?? |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by 989900: 10:54am On Apr 30, 2015 |
jpphilips: How much does it cost to produce a litre of PMS, and DPK through our local refineries? I think the drift is straightforward. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 10:54am On Apr 30, 2015 |
jpphilips: For now, I will leave the question of why DPK pricing policy has continued to somersault. Since AGO was deregulated some years ago has there ever been a shortage of the product and why? I would also like it if you could provide information of the extent to which AGO pump head prices have declined in Nigeria since the global price of crude fell. I would also like your comments on the rest of my post about costing of locally produced petroleum products. |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:56am On Apr 30, 2015 |
TheGoodJoe: Sounds like someone has a clue 2 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 10:57am On Apr 30, 2015 |
989900: ^^^^ I am a bit surprised at his answer. I genuinely do not have any information on the costing of (locally drilled and refined) PMS. His cryptic remarks about 'every Nigerian who cares has it' are baffling, to say the least. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 10:59am On Apr 30, 2015 |
989900: How can you ask how much it will cost to refine when you have not told us what you will refine and where you want to get it from/ dont you think that the source will determine the cost? |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 11:14am On Apr 30, 2015 |
VolvoS60: You have managed to ask the right question, AGO price will NEVER fall in Nigeria unless there is a drastic government intervention, this present govt will not intervene because they have already lied that removing subsidy will bring competition that will drive down the price. The sad news is this; THERE IS NO COMPETITION IN THE DOWNSTREAM SECTOR AT THAT LEVEL. About the Global crude pricing, Nigeria has two major issues, a drop in crude prices and a devalued currency, both attract subsidies, now listen to okonjo iweala herself from the article we just read; “Let me tell you, on the issue with oil marketers, we have been really working with them. We have been dialoguing with them. We paid them N350 billion in December. We paid them N31 billion as foreign exchange differential and by tomorrow (today), we will be paying them the N100 billion which we will give them as IOUs as well as their interest rate differential of N56 billion. if you understood this part of that article, you will realize that most of your questions have been answered. Why will you expect drop in crude price to affect the price of AGO when you just devalued your currency?? The Govt is not always stup!d, we as citizens should try to understand better what is going on in our country before trading blames. |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by aviazuva: 11:24am On Apr 30, 2015 |
THIS IS ONE GOOD THING DURING OGA JONA TENURE--- WE NO SUFFER PROLONGED FUEL SCARCITY ANY HOW. HOW HIM TAKE SETTLE IS ANOTHER MATTER |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by 989900: 11:32am On Apr 30, 2015 |
jpphilips: Elusive/evasive is my personal inference from your response. Because 'Volvos60' already mentioned about those missing/fluid parameters that we need to be conclusive. And we thought you had them. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by TheGoodJoe(m): 11:49am On Apr 30, 2015 |
tete7000: Your answer lies in Diesel. After taking Subsidy off Diesel, the money from that avenue vanished, we are not seeing the so called competition from marketers. The same crew do the imports. The masses take the burden and no refinery came out from taking away Diesel subsidy. The same will happen with Petrol if Subsidy is lifted. Simple, if people rot in jail and lose their assets due to corrupt practices, the system will be sanitized. 2 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 11:49am On Apr 30, 2015 |
Billyonaire: ^^^^ Interesting but flawed analysis. Your sermons about nationalism being a flawed model (whatever that means) fall in the face of the evidence. The shining example of Norway's state owned oil giant shreds your argument. What magic did Statoil perform? Didn't the Norwegian government (over 60% equity in Statoil) build Norway's refineries (through a number of arrangements including JVs)? Did they import martians to do it? We do not even have to use Norway as the sole example. What of Petrobras? Petronas? Aramco? How do they do it? Rather than make sweeping generalizations such as 'governments are unable, world over to manage business', you should say Nigerian governments are unable to manage business. The next assignment will be for Nigerians to ask WHY this is so . Spare me the crowing about your informed, objective, money making abilities. This isn't the thread for it. 2 Likes |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 12:06pm On Apr 30, 2015 |
jpphilips: ^^^^ I am not sure you really understand my position on quite a few of these issues being discussed. Perhaps you should go through my posts again. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by rolchi(m): 12:10pm On Apr 30, 2015 |
jpphilips: Boss,what is happening now? Are you not aware that government saw all the dire financial straits coming and wanted to re-position but Nigerians refused. Now, most state governors cannot pay salaries. Most IOCs saw this coming and have taken survival decisions and positions. Propaganda blinded our eyes and minds and now we are here. Whether lies or not then....now, our government cannot pay salaries. Subsidy MUST GO if the country must survive. GMB may stabilize oil prices all he wants, this will not help either because again, the traditional buyers of our crude are turning to cheaper source of energy and gas is inclusive. This means that demand is dropping... You just have to face the reality.... Nigeria is sinking fast and one of the fastest way out of this mess is to STOP SUBSIDY NOW! |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 12:35pm On Apr 30, 2015 |
989900: If Volvo needs a lecture, he can as well gain an admission, very well then, give him the cost break down (fluid parameters like you put it) without knowing the source!! what are you? magician? |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by 989900: 12:37pm On Apr 30, 2015 |
jpphilips: Meh! 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by VolvoS60(m): 12:40pm On Apr 30, 2015 |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 12:53pm On Apr 30, 2015 |
VolvoS60: I understand you perfectly i am only telling you indirectly that some of those questions are not relevant going by the way Nigeria operate. You dont need to know the cost of refining crude to know if it will attract subsidy, all you need to know is the source, your source determines if subsidy will be paid. From your first post your idea of subsidy is an offset of price parity between govt determined rate and landing cost for only imported products That was the lies jonathan sold to you guys in 2012, you held on to a lie and you are insisting to be given the refining cost to determine if there should be a parity that will attract subsidy. Today, two aspects were opened to you ** FOREX parity ** Source of oil. Obviously you may never have heard it before, holding on tenaciously to an irrelevant question will never lead you to the answer, someone else may oblige you anyways!! |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 1:05pm On Apr 30, 2015 |
[quote author=rolchi post=33272168] Boss,what is happening now? Are you not aware that government saw all the dire financial straits coming and wanted to re-position but Nigerians refused. Now, most state governors cannot pay salaries. Most IOCs saw this coming and have taken survival decisions and positions. Propaganda blinded our eyes and minds and now we are here. Sorry!! Govt did not see any "dire Financial straits" like you put it, they wanted to scam you big time but stake holders like fought against it, what the government wanted to achieve in 2012 was, steal subsidy meant for Nigerians, remove their hands, then use the same people to be collecting the subsidy from you the final consumer. It is wrong to say "remove" or "put" subsidy, the right question is; who pays?? Did state govs tell you they are owing because of subsidy? let me hold my laughter till I hear that first. Whether lies or not then....now, our government cannot pay salaries. Subsidy MUST GO if the country must survive. GMB may stabilize oil prices all he wants, this will not help either because again, the traditional buyers of our crude are turning to cheaper source of energy and gas is inclusive. This means that demand is dropping... ya, my advise to you is this; go and learn how it works in reality before allowing your emotions to get hold of you, any State gov who told you he is not paying salary because of subsidy is lying to you again. Nigeria is sinking fast and one of the fastest way out of this mess is to STOP SUBSIDY NOW! He that is down fears no fall!! |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by TheGoodJoe(m): 2:10pm On Apr 30, 2015 |
VolvoS60: The answer lies in Privatization. It is the same scam every where. The corrupt politicians find a way to rig the system for them to steal. Look at Tuned Ayeni being the benefactor of PHCN privatization scheme. A man who donated billions to the campaign of GEJ. Men like this are the reason why PHCN could not flourish. The government sabotage the industry to make it lose value and drown. Then the officials of the government sell it to their front men and they share the dividends. There is no so called cabals fighting the development of refineries in Nigeria. It is the government officials. They use the so called no way to develop refineries to keep their front men importing petrol and they make the money. The whole cry of removing subsidy is to create money for the government officials to loot, while they use their front men to milk the masses. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by TheGoodJoe(m): 2:21pm On Apr 30, 2015 |
rolchi: Stop buying into GEJ and NOI's lies and propaganda. They make it look as if the Subsidy is the reason why the country is losing Billions. The truth is that we are losing money because of their monumental looting. They stopped NNPC officials from paying money into the Federation Account. This hindered CBN under Emir Sanusi to monitor their wastage. Billions of dollars are missing because of GEJ's wastage, not Subsidy. If they did not loot this money for their wastage lifestyle and election, there would be money for governors to work and pay salaries. 1 Like |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by tk4rd: 3:01pm On Apr 30, 2015 |
jpphilips:Are we the only people that have Oil.?? Do America and Saudi-Arabia have subsidy in their systems too.?? You are among the Nigerians that accepted the scam we call "system" in Nigeria and sheepishly regard it as what should be.. No offence., but tell me why the so-called subsidy is not operating in other sectors of the economy, especially solid minerals |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by tete7000(m): 3:26pm On Apr 30, 2015 |
TheGoodJoe: Diesel is not the only derivative of crude oil and as such deregulating diesel alone won't bring needed investment into the refining industry. How can people refine and derive multiple products, sold one of those products in a competitive market while others are regulated? If we want investments in our refineries, we need to have a total deregulation. To say diesel didn't benefit at all from deregulation is far from truth. Diesel doesn't suffer regular scarcity as petrol and kerosene do. Although I wouldn't know if price of diesel responds to international price fluctuation as I am not a user of diesel but I expects it should. However for now it is going to be difficult for us to have diesel price drop yet as we still heavily depend on product importation and also because its importation is still somehow linked with importation of other products. |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by jpphilips(m): 4:32pm On Apr 30, 2015 |
tk4rd: Do you even know why it is called "Downstream" sector? Enjoy your ignorance bro, guess what it? TGIF on Thursday |
Re: Fuel Scarcity: FG Pays N156bn Fuel Subsidy Claims To Marketers by tk4rd: 4:41pm On Apr 30, 2015 |
jpphilips:Now u don yab finish.,, just know that Subsidy will be removed soon.. Enjoy ur weekend |
(1) (2) (3) (4) (5) (6) (Reply)
Sell Helicopter To Pay Workers, PDP Tells Aregbesola / Buhari Leaves Abuja For Iran On Sunday-punch / Fuel Hike: Public Complaints Company Adjusts Work Schedule
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 116 |