Kachikwu knows what he's saying. HE IS AN IGBO MAN. I support the deregulation. Watch Ifeanyi Uba and other top notch Igbo marketers crash the price of PMS under 6 months. Uba will sell his PMS for Between N100-N120 a liter, then the price war will start. Fuel will eventually settle at around N100 a liter.

Good move by the federal govt.

Note: Dangote will join in very soon putting added pressure to the price. Besides, most of the fuel will be refined locally. I see a bright future.

your words mean nothing to Nigerians, start working and stop making empty promises. Don't make Mr president use you, if u can't handle it resign, thats what gentle and honourable men do.

let d good prophecies of Nigeria come to pass.

divinehand2003:
SHEBI KACHIKWU DON TURN TO ONE OF THESE FALSE PROPHETS NOW?

i wonder ooo this man said the price will go down by may, instead it rise up and He is still saying in the next 6month it will go down again... Those that have eyes and hear watch out.

I said telling you this man is talking in parable, he is saying opposite of his mind

Fuel scarcity will be over in May...Kachikwu
Then You came and denied that you were misunderstood. That supply will be in abundance by April....Another Lie.
One of your directors went on a paparazzi spree in Abuja to convince us Fuel supply has been normalized...Lie!
Refineries are working at optimum performance....YOU LIED
Why should i believe a word out of your mouth Mr Kachikwu?
APC and its bandwagons seem to have a niche for lying and denials.
6 MONTHS FROM NOW YOU WILL DENY ALL THESE PROMISES AND RE-PHRASE YOUR WORDS.
But guess what......My trust is not in You, your promises or your government.

hob:
‘Femi Asu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said Nigerians will be amazed at what will become of the price of Premium Motor Spirit in the next six months.

The Federal Government had on Wednesday announced the removal of fuel subsidy, with a new petrol price band of N135 to N145 per litre, up from N86 and N86.50.

The development has been greeted with mixed reactions, with labour vowing to protest against it.

Kachikwu, who spoke on Thursday morning on Channels at the Sunrise Daily programme which was monitored by our correspondent, said the move was necessary in order put an end to fuel scarcity in the country.

He said the market dynamics would take hold fast “because there are a lot of Nigerians who are very active, very bullish, very talented in doing this; they just have been prevented by government intrusions.

“As it gets better and it gets to a point where we find that the market has stabilised in terms of supply, we will begin to pull back a bit in terms of determinants for pricing.”

He said by opening up the space for people to perform, to practise their trade, “you will be amazed at what will happen to your N145 price because it will go downwards.”

The minister said as a result of the decline in government earnings from oil, it could not provide foreign exchange for the importation of fuel.

“You don’t give what you don’t have. We want Nigerians to understand that we feel the pain, and we have tried to avoid it since I came in October. We have done everything we can.

“We first went on to the issue of the subsidies that we inherited which, by the way, were based on 50 to 55 million litres consumption, and we said the number looked bloated. So, we did an experiment and came to a conclusion that this country doesn’t consume more than 45 million litres a day.

“Then we came to a second point and said, ‘We are not even going to have subsidy again. We are going yo exit it because there was just too much fraud involved in it.'”

The minister said if the government did not take the step it took, massive subsidy would continue, adding that there was no foreign exchange for importation.

“So, left with that option, what were we supposed to do? We have struggled. Queues continue to go and they are back. And it will continue to happen unless we address the issues.

“If you free up Nigerians to find sources of funds, they will find those secondary funds. They will import the product; the burden on the NNPC will reduce and the country will have peace and subsidy will go away permanently.”

Kachikwu added, “I am appealing to Nigerians to please for the first time realise that we are doing our very best. I have together with everybody who is in this government worked night and day looking for solutions.

“We mean well and Nigerians should please trust us. Give us a chance, you will be surprised what will become of your PMS price over the next six to eight months.”


http://punchng.com/petrol-pricell-go-six-months-kachikwu/


Lets take note my people.

I think this man, is fatancial deplet in his reasoning.

OK, since we're going around making unfounded predictions, I predict that the price of tomato will be halved in the next 2 weeks. Smh.

Kachikwu made sense there. Competition will drive pump prices down. Eventually, the marketers will abandon importation an build refineries. So it's very feasible - Kachikwu's prediction.

chikel2000:
What template is Kachukwu using to tell us this or what indics?. We got d promise of this government that d refinery will be working n fuel scarcity will be a thing of d past. Now our refineries r working, yet PMS is scarce. Today its removal of subsidy n its impact by 6 to 8 months time. We r watching u PMB, have my eyes on u.

Have you heard of NDA that people openly support blowing up the pipelines?

lets wait and see,six to eight months is around the corner

Chinom:
Kachikwu knows what he's saying. HE IS AN IGBO MAN. I support the deregulation. Watch Ifeanyi Uba and other top notch Igbo marketers crash the price of PMS under 6 months. Uba will sell his PMS for Between N100-N120 a liter, then the price war will start. Fuel will eventually settle at around N100 a liter.

Good move by the federal govt.

Note: Dangote will join in very soon putting added pressure to the price. Besides, most of the fuel will be refined locally. I see

Exactly!
I foresee Ifeanyi Uba making life difficult for his fellow marketers by constantly selling lower than whatever their association agrees to sell.
That is why I like the yeasterners.
Also Dangote refinery will be running in no time.

Fuel subsidy has been a curse rather than a blessing.

greatgod2012:
Who is this one deceiving

Is only those that are shortsighted that sees it as a deceit or maybe you just typed this to do your usual thing, attack Buhari government or better still to earn some likes.

Yorubas are the worst hypocrites in the world!! shut must u guys support any evil by PMB? Where are the #occupynaija changers

stonemasonn:
Mr Kachukwu don't be so optimistic, Nigerians are natural rent seekers they'll first of all hoard the fuel claiming forex difficulties and all what not causing more scarcity only for them to later sell at very expensive price. And when they decide to form a stupid Union believe me you won't be able to control them. My 2cent.

Nigerians scamming themselves since time imo river. We all need to work together to meet this nation forward.

God will help us to overcome the new fuel price.

Why is this Nation drifting on the track of confusion?

ladgentle:
Please people should not compare GEJ with PMB. Because GEJ did not face this kind of Forex scarcity currently confronting us. He 6 good years to have attempted something with the refineries. Yet he didn't. Now, no forex, fixing the refineries will take time. PMB has no choice, but to go this painful route.

Refineries are working...thats why NDA keep attacking pipelines that supply crude oil to the refineries....and we still have people that applaud them and encourage them to cripple the economy. Guess who is feeling the pains.

Wait a minute,their is point in what he said if he is serious abt it.many people will join petrol business thereby uchering in competition.the higher the competition.the lower the price of petrol.good if he means it.

Just wondering- don't they know our mannerisms?
why did they have to announce a ceiling of 145?
They should have just said pump price has been deregulated!
But I guess that would only help those in Lagos and abuja

And who's he telling this again.... You know what I blame my fellow country men and women who fall for every unrealistic promises without a rethink. I'm sure there's more to come.

Since a society like our is in decay and we all fold our hands and stir in fear, they'll always come up with like stories.

chikel2000:
What template is Kachukwu using to tell us this or what indics?. We got d promise of this government that d refinery will be working n fuel scarcity will be a thing of d past. Now our refineries r working, yet PMS is scarce. Today its removal of subsidy n its impact by 6 to 8 months time. We r watching u PMB, have my eyes on u.

oil from the refinery are also been diverted and sold to the highest bidder

silvoice:
I Lay a curse on anyone who defend politicians simply because he or she is benefiting from them, is from the same tribe or party. I don't care which side you belong to. PDP and APC are the same and their sycophants. Are mainly idiots who will all receive their reward when the time come. Indeed, #there was a country.

Seconded!!

Kachuchw can't say this, how do you want to control the price of product you deregulated. Is it not the market forces that will determine the price? Govt. should stay off business completely.

Abrahamperkins22:
Before you wail on the Deregulation of the oil
sector.
This data would help you.
According to statistics Nigerians consume 33m
of Pms daily.
According to the Pms pricing template of May
2016 the landing cost of Pms is 138.1
You should know importers have to make margin
a minimum of 5-10% is ideal considering the
volume of product involve to cover overhead
cost and sundry.
Now this will amaze you.
Using 145 NGN bench mark as against 86 NGN.
There is a difference of 59 NGN which the FG
has to pay the rogues called oil importers via
subsidy claim.
Since Nigeria consumes 33m daily
It means Nigeria Nigeria would be paying
59x33,000,000=1,947,000,000 billion
In one year we would be paying the rogues.
1,947,000,000x365= 710,655,000,000 billion.
This is over 10% of our annual budget.
This funds would be used to provide
palliatives,inf
rastructural projects provide and medicals care
for Nigerians. This govt has the will to cater for
Nigerians.
That fund is more than Fashola and Amaechi
budgets together
I see NNPC selling far below the capped price.
Govt must control price for commodities that are
very essential for the masses.

The bold words is where i am afraid.

rhetorics!! Little points are there too..6months time hope we don't get anoda long yarn.

Oga kachikwu, na u put us were we dey now, kukuma leave us here. No dey raise our hope na abeg I dey beg.

He must really think we are fools. I don't blame him. He must be an illiterate to say such a thing.

Come to think of it,more Nigeria's are allowed to import fuel with the dollar, which is #320 at the market that they can only get access to at the moment. Now when a businessman spend so much of the naira to get the dollar with which he will use to pay for imported fuel. You expect him not to make his gain abi. Fuel will sell for #300 and above even with competition. You cannot deprive him from making his gain.

Kachukwu must be a fool for taking Nigerians for fools.

It is clear that PMB do not have a clear cut plan on how to take Nigeria forward. What do you expect from a fulani that only understand the life-cycle of a cow. He takes Nigerians as a beast of burden, he can throw all kinds of heavy load on and expect it to carry.

It is high time he considers taking a walk out of Aso rock and give way to literates that can move the country forward

It is a decision the Government had to make at the end of the day, but where I fault the policy is the Minister's continued harping on how private individuals can source funds to import PMS; a better policy initiative would have been to give incentives to Nigerians who wish to build local refineries within the next two years, that way the need to source foreign exchange to import fuel will not be necessary

I feel bad, pained, dat Kachikwu (with all his skills) and Buhari (with all his experience) cannot run d petroleum ministry reasonably well... Wat Diezani (with all her scandals) did with ease.... No security of fuel supply, high cost of fuel wen available, more sales in d black market than in d filling stations etc etc.
What a BIG SHAME!
Dat ministry z too big for Buhari and Kachikwu to oversea... Yet nobody wants to resign.

What a BIG SHAME!!