9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

I like to say you are talking lubish . But thats my opinion . Now tell me from what country can one import and land petrol at N145 . ??
I'm waring for the name of the country that supplies us petrol @145

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

This one is writing from Mars..

Oluku..

StudyCrestLtd:


Must we import? Let's start having enough local production. We keep enslaving ourselves and will go to USA and be shouting Blacklives Matters. Why can't it matter here on our soil.

1. If we stopped importing today, there would be really serious fuel scarcity in Nigeria. We need 70 million liters of PMS daily. 20 million of that can be produced from our four refineries for now.So...we have to import.

2.Because prices are set by the govt, most marketers cannot import fuel directly since they don't make enough profit to import...and importers want to be paid in DOLLARS. NNPC for now is our sole importer of fuel...because they have access to cash most independent marketers dont.

3.NNPC until this month was importing fuel at N132 per liter (landing cost). About a few weeks ago, NNPC started importing fuel at N141-2 per liter. Meanwhile, marketers have to sell fuel at N145 per liter..while losing N10 per liter of their profits overnight. Hence the queues.

4.Dangote MIGHT solve part of the fuel deficit issue...BUT we still need more refineries. That is where the mini refineries are supposed to come in. Wonder why they haven't started?

ken4jj:

If Buhari did not win the last election and become president, some people somewhere would have been thinking that there was one man of "integrity" out there who would have solved Nigeria's problems. At the end of the day,the suppose"integrity" man seems to be the worst of them all.

Indeed, Buhari experience has taught me that integrity doesn't solve a problem, but skill and intelligence do. I have no doubt that Buhari is not an intelligent man.

cescky:


The fuel scarcity is artificial

Its a ploy to milk Nigerians

It's December...and they know the weather is hot..All man must contribute to their pocket, by fueling their gen

December is an enjoyment month so all man go Wan flex and fuel their car too so fuel must be bought and money contributed to the Cabal...most especially needed for next year's elections

Nigeria is amongst the worst places on planet Earth

Be wise jare , artificial from where? The CBN devalued the naira and the price of crude has gone up yet you think its artrtificial ..for your information govt is already bridging the cost along with the release of strategic reserve so thats why lagos seems to have fuel but be ready for fuel prince increase very early next year

400billionman:


This one is writing from Mars..

Oluku..

erico2k2:

I like to say you are talking lubish . But thats my opinion . Now tell me from what country can one import and land petrol at N145 . ??
I'm waring for the name of the country that supplies us petrol @145

Time for....

DEREGULATION FOR THE AVERAGE MIND.

1.To answer your question Erico....the landing costs came from IPMAN...the marketers union.(NNPC is denying it...but no smoke sans fire).

2.Here is how deregulation should work....

..Govt stops setting prices, and allows marketers to set their price.

....In theory...Mobil sets price at 150 , Total sets price at N155, Oando sets price at N160, and Papaengo Ventures sets his own at 200.

....Nigerians buy from Mobil in their crowds....whileothers get zero customers.

...Oando, Total,Papaengo cut prices...and people go there.

...Mobil then cuts prices to N130

...Oando, Papaengo and Total followsuit.

...Meanwhile, more investors come in, freed from the price constraints

...And WE use subsidy savings to fix refineries...then privatize them.

Hence my previous posts.

God bless. I love both of you .

God, pls help Us o

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money for better things.

They have to build refineries first or privatise the existing ones. Why should ppl HV to die first in Nigeria to enjoy the dividends of democracy. Why should ppl HV to pay 200 per liter initially. All these oil companies should be compelled to build refineries , for Christ sake dangote is doing it , do u know how much these ppl u elected get paid to do things that secondary school students can do , if u channel some of the money to build a refinery won't that alleviate the suffering of the masses. The government promised that competition will bring down the price after 6 months but its almost 1yr and nothing ,it should apparently be selling for more , so we are still paying subsidy. They should refine crude oil here , if they budget some money and start building and another govt then must finish the project. If buhari didn't increase the price of petrol there would HV still been persistent scarcity so don't think dey HV done any magic. The fact that buhari hasnt done 1 major thing right is wot pisses me off.

AutoReportNG:


Hahaha... wetin concern PDP convention with fuel biko?

when it comes to twisting words,fear APC and lie Mohammed.

michoim:
Ask PDP your brother that is sabotaging the economy so that they can give Nigerians reasons to come back and continue looting the nation's treasury. But they will all fail...as the Lord lives

mtcheeeeeeeew,WHR did the creator create this one from.......

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

Typical APC BMC now blaming Nigerians

I didn't bother to queue today because it will be foolish of me to join others to buy @167 naira

Seankay323:

They have to build refineries first or privatise the existing ones. Why should ppl HV to die first in Nigeria to enjoy the dividends of democracy. Why should ppl HV to pay 200 per liter initially. All these oil companies should be compelled to build refineries , for Christ sake dangote is doing it , do u know how much these ppl u elected get paid to do things that secondary school students can do , if u channel some of the money to build a refinery won't that alleviate the suffering of the masses. The government promised that competition will bring down the price after 6 months but its almost 1yr and nothing ,it should apparently be selling for more , so we are still paying subsidy. They should refine crude oil here , if they budget some money and start building and another govt then must finish the project. If buhari didn't increase the price of petrol there would HV still been persistent scarcity so don't think dey HV done any magic. The fact that buhari hasnt done 1 major thing right is wot pisses me off.

Here is the cost of Dangote's refinery.

$9billion

$3 billion is from Dangote's Pocket.

$4 billion is a loan from international banks.

$2 bn is from donor agencies...negotiated in conjunction with the previous admin.

Mrokaykay:

Typical APC BMC now blaming Nigerians

Look....i blame Nigerians for opposing GEJ's increase in 2012...which would have brought long term benefits to Nigeria's fuel sector.

But if you want queues to go....deregulation is the answer.

We should have deregulated since 1993.....

I don't support APC or PDP BY the way....sorry!

9jakohai:


Excuse what?

I have given you the solution, even called out the govt for their subsidy joke.... And you are accusing me of supporting the govt?

OK... In simple Saxon

Importing fuel costs 142 perliter

Meaning marketers make a profit of just 3 naira.

Plus, this increase happened recently from 132naira

Plus, 3 naira profit is not enough to pay salaries, and invest in making things better.

Dangote refinery won't make things better by the way. We would still need to import 40 million litres PMS daily.... so anyone waiting for it is joking.

Deregulation is the answer. Gej tried in 2012, but even some of you his support did not back him. Now, economic realities have forced us to face facts.

maybe you should avail yourself with better info cos you come off as supporting this inept government that announced a deregulation of the downstream sector and setting a price band not exceeding 145 naira per litre and promised that competition will later crash the price. This statement was made in 2016 but now in december 2017,we are at the verge of another likely increase in pump price. Whether we accept what the government announced in 2016 was a removal of subsidy or deregulation,the fact on ground is that it hasn't achieved part of the promises bothering on lowering price of refined product. To also quickly correct your misinformation,nigeria consumes around 30-33million litres per day(according to nnpc website),dangote refinery will be producing 650,000 barrels per day(that's over a 100million litres cos 1 barrel=159litres),that's more than enough

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

It is the Biggest scam! Since crude price had gone down, the products from crude should have a resultant reduction in price. It. Is simple economics but, magical with this administration!

princejenks:
maybe you should avail yourself with better info cos you come off as supporting this inept government that announced a deregulation of the downstream sector and setting a price band not exceeding 145 naira per litre and promised that competition will later crash the price . This statement was made in 2016 but now in december 2017,we are at the verge of another likely increase in pump price. To also quickly correct your misinformation,nigeria consumes around 30-33million litres per day,dangote refinery will be producing 650,000 barrels per day(that's over a 100million litres cos 1 barrel=159litres),that's more than enough

1. Bubu did not deregulate at all. I did not believe that in 2016....or even now.

2.Until the last one month, landing costs of fuel was 132 naira per liter. Now it is n142...due to rising oil prices, and rising import costs.

3.Marketers have lost N10 per liter in profits as a result.

4.Hence the scarcity.

Me, i backed GEJ's price increase in 2012.

For your info, here is how deregulation works...

Time for....

DEREGULATION FOR THE AVERAGE MIND.

.Here is how deregulation should work....

..Govt stops setting prices, and allows marketers to set their price.

....In theory...Mobil sets price at 150 , Total sets price at N155, Oando sets price at N160, and Papaengo Ventures sets his own at 200.

....Nigerians buy from Mobil in their crowds....whileothers get zero customers.

...Oando, Total,Papaengo cut prices...and people go there.

...Mobil then cuts prices to N130

...Oando, Papaengo and Total followsuit.

...Meanwhile, more investors come in, freed from the price constraints

...And WE use subsidy savings to fix refineries...then privatize them.

christejames:
We've been scammed by them right from the onset... All the promises from them is nothing but a mirage.
Watch out how Lai Mohammed will claim it was due to the just concluded PDP convention that the downstream sector is finding it difficult to supply Premium Motor Spirit (PMS).

This is too savage..
I'm afraid he is capable of making such claim

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

Fuel might be sold at over 350 per litre if this ur nonsense is implemented. High fuel cost will cost unprecedented inflation that will kill alot of Nigeria. We are not ripe for total deregulation

tuniski:

It is the Biggest scam! Since crude price had gone down, the products from crude should have a resultant reduction in price. It. Is simple economics but, magical with this administration!

Why the price increases? Oil has fallen, right?

1. Because crude oil prices have fallen, we don't have enough cash to buffer the naira...so the value of the naira has fallen.

MEANING WE NEED MORE NAIRA TO IMPORT THE SAME AMOUNT OF FUEL WE DID FOUR YEARS AGO.

Hence the rise in fuel prices.

eg...in 2012...it cost N93 to import one liter PMS. It cost N144 to buy one dollar.

NOW...it is N360 to one dollar.....it costs N142 to import one liter of fuel.

2.Most marketers have to get dollars from the parallel market where it is at 400 to $1.

jaychubi:


Fuel might be sold at over 350 per litre if this ur nonsense is implemented. High fuel cost will cost unprecedented inflation that will kill alot of Nigeria. We are not ripe for total deregulation

Yes, i agree things will be hard.

But where is the money to keep fuel low?

Oil is selling for 60-70 USD less than it did 3 years ago.

And the falling value of the naira means you need more dollars to import fuel.

See the problem.

Either we swallow the bitter pill....or take another IMF loan.Or pray oil goes up to $125 per barrel.

9jakohai:


1. Bubu did not deregulate at all. I did not believe that in 2016....or even now.

2.Until the last one month, landing costs of fuel was 132 naira per liter. Now it is n142...due to rising oil prices, and rising import costs.

3.Marketers have lost N10 per liter in profits as a result.

4.Hence the scarcity.

Me, i backed GEJ's price increase in 2012.

For your info, here is how deregulation works...

Time for....

what you're asking for is total deregulation which is not practicable under our current laws. Nnpc for now is both a player and regulator until the proposed bill for the industry is fully passed,not in piecemeal as the legislature is currently toying with. Even as things stand,the doors were opened wide open in 2016 for anyone interested in importing refined product to do so from dollars obtained from secondary sources but a year later,we know nnpc does most of the importing cos the marketers aren't able to meet up the remaining 50% alloted to them






.

osscarr:



Dont worry; God will destroy u

The Lord bless you and keep you;
The Lord make his face to shine upon you and be gracious to you;
The Lord lift up his countenance[a] upon you and give you peace.

Amen.

Even unto you and your descendants.

Sorry for quoting you but this your talk is not making sence.
In May 2016 when the price was increased to N145. The presidency promised that the price would reduced in latest 6 months when partial deregulation would have been achieved in the downstream sector (after 18 months nothing has happened).
Again early this year, a bill was passed this year that instead of reducing the price a tax of N5 would be included per each liter of both PMS and AGO imported into the country, saying this money would be diverted to the contruction of roads. Another promise gone down the drain.
Yet you say Nigerians are not facing reality.
The fact of the matter is that this present government's economic team are simply in over their heads. They are simply not capable of performing this job.

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

APC - All Promises Cancelled.

Real Scam wet no get part two.

9jakohai:
There is no scam.

Just Nigerians refusal to face reality.

The truth is, most Nigerians don't want to pay high for fuel. They want govt to subsidize fuel...

Which is what PMB is doing. All this 145 naira is partial removal of subsidy. It is the same thing GEJ, and OBJ and Co have done.

Meanwhile, cost of importing fuel is 142 per liter. We import 50million liters of PMS daily, and produce less than 18 million PMS daily at home.

Oil price has fallen, from 120 in 2013 to 64 today, and somehow Nigerians expect govt to find money to knock down fuel to 97naira per liter.

Even when oil was high, we wasted billions subsidize fuel, that we could have used to do things like increase refining capacity at home. (See why GEJ could not build refineries).

Nigerians should stop deceiving themselves and embrace deregulation. Yes, fuel will cost 200 per liter initially. Yes, poor people will suffer. But investors will come, and eventually, due to competition, prices will fall.

Time we stopped deceiving ourselves. Oil subsidy must go. So that we can have money forbetter things.

Who did this to you? You see people are suffering but you have refused to know because of sentiment. Buhari has failed Nigerians and it's not hidden, abeg stop saying they( APC) met Nigeria when crude oil is low, how much is it sold now? When OBj and atuku took over Nigeria crude oil price was very low and they manage do many infrastructures. May God open your eyes to see what poor and average Nigerians are going through under this administration.

9jakohai:


Why the price increases? Oil has fallen, right?

1. Because crude oil prices have fallen, we don't have enough cash to buffer the naira...so the value of the naira has fallen.

MEANING WE NEED MORE NAIRA TO IMPORT THE SAME AMOUNT OF FUEL WE DID FOUR YEARS AGO.

Hence the rise in fuel prices.

eg...in 2012...it cost N93 to import one liter PMS. It cost N144 to buy one dollar.

NOW...it is N360 to one dollar.....it costs N142 to import one liter of fuel.

2.Most marketers have to get dollars from the parallel market where it is at 400 to $1.

You are making it difficult for yourself.
Why associated costs might have fallen, the core input which is the crude has fallen which means the outputs must have a fall in price not necessarily linear(absolute).
What we have is a potential price increase of products. The 145naira price when crude was under 40$ was must troubling and unjustifiable. However, if you buy the govt charade, then it means now that the crude price has gone above 60$, then Prices must either go up, govt pay subsidy to keep it or both!
This narrative surely give a lot of credence to the last govt which had crude price above 100$ At some point but still manage to keep the pump prices under 100naira, even while increasing salaries and paying subsidies!
This govt is bereft of ideas!!!

Haruchap:
Sorry for quoting you but this your talk is not making sence.
In May 2016 when the price was increased to N145. The presidency promised that the price would reduced in latest 6 months when partial deregulation would have been achieved in the downstream sector (after 18 months nothing has happened).
Again early this year, a bill was passed this year that instead of reducing the price a tax of N5 would be included per each liter of both PMS and AGO imported into the country, saying this money would be diverted to the contruction of roads. Another promise gone down the drain.
Yet you say Nigerians are not facing reality.
The fact of the matter is that this present government's economic team are simply in over their heads. They are simply not capable of performing this job.

I'm out of time....so i'll make this quick.

1.Partial dereguation, is not the same thing as full deregulation.

Get that fact first....and you will see why partial deregulation does not make sense.

tuniski:


This narrative surely give a lot of credence to the last govt which had crude price above 100$ At some point but still manage to keep the pump prices under 100naira, even while increasing salaries and paying subsidies!
This govt is bereft of ideas!!!

Yes...at 100 USD...we had enough cash to pay subsidies...and crucially...buffer the naira...meaning we needed less naira to buy dollars to import.

But even then, it was bad economics....which is why GEJ wanted to remove subsidy ...and raise prices from N65 to n140 in 2012.

norris123:


Who did this to you? You see people are suffering but you have refused to know because of sentiment. Buhari has failed Nigerians and it's not hidden, abeg stop saying they( APC) met Nigeria when crude oil is low, how much is it sold now? When OBj and atuku took over Nigeria crude oil price was very low and they manage do many infrastructures. May God open your eyes to see what poor and average Nigerians are going through under this administration.

You think i am defending APC....which is not true.

I will just add this...GEJ should have been allowed to raise prices to N140 in 2012.Things would have been better by now.

Good evening.