Mutuwa:


We bought N210 yesterday at Zaria.

9jakohai:
Then NNPC....get the President to DEREGULATE the downstream sector.

That's right....DEREGULATE......

Saves money, brings in more investment, makes the industry more profitable....PROVIDES MORE JOBS.

Stop this subsidy and price control story.....DEREGULATE!

Deregulation in 1993, in 2006, 2012, 2016, and today.

Bollinger:


The problem with your argument is, Nigeria is an oil producing country. There is no freaking way Nigerians should paying as much as a country that does not have oil. It makes no sense. It is akin to a farmer who has thousands of tubers of yam and decides to go to the market to go buy the same yam he has. Does that make sense to you. That being said, the reason all facets of like life in Nigeria has stalled is because of how corrupt it's people are. Deregulate all you want but if that doesn't change more woes will definitely befall the country. Even the the US subsidises gas prices how much more Nigerians that actually needs it.

Nigeria is worst off, needing an oil price of $139 a barrel to balance its budget, Fitch said in a April 5 report on 14 major oil exporting nations in the Middle East, Africa and emerging Europe. Even after cuts in government subsidies and currency devaluations, 11 of them won’t have balanced government budgets this year, including Saudi Arabia, it said.

“Fiscal reforms and exchange rate adjustments are generally supporting improved fiscal positions compared to 2015, but have not prevented erosion of sovereign creditworthiness,” Fitch said.

Only Kuwait, Qatar and the Republic of Congo have estimated break-evens that are below Fitch’s oil price forecast for this year. Kuwait at $45 a barrel traditionally has a low break-even because of its high per-capita hydrocarbon production and more recently its “large estimated investment income” from its sovereign wealth fund, Fitch said.

Brent crude, a global benchmark, has averaged about $55 a barrel this year.

The rating agency said it “substantially” raised the fiscal break-even prices for Nigeria, Angola and Gabon from 2015 levels because of rising government spending.

Fitch’s forecast 2017 break-even oil prices, per barrel:
Nigeria at $139
Bahrain at $84
Angola at $82
Oman at $75
Saudi Arabia at $74
Russia at $72
Kazakhstan at $71
Gabon at $66
Azerbaijan at $66
Iraq at $61
Abu Dhabi, United Arab Emirates, at $60
Republic of Congo at $52
Qatar at $51
Kuwait at $45

9jakohai:


And in response...here is a cold fact...

We need oil at $139 per barrel to run a balanced budget.



Sauce

Either we take another fat loan to subsidize fuel.....or we wake up and realize that we are a poor nation whose case is made worse by corruption.

apankay:
The new Year wey we Don enter already? Abi which one

Bollinger:



Here are the real facts. No nation, absolutely none can live, survive or grow at the level of corruption like what exists in Nigeria. Nigerians don't fully understand the depths of how much it has destroyed and continue to destroy the country. It's not just material but psychological as well. There can never be worthwhile policies emanating from these levels of corruption. No matter how good intentioned they may be.

9jakohai:


Which is why we should fight corruption....but some Nigerians see tribe and religion and put roadblocks to the process.

metroblogger:
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has vowed that Nigerians will not go into 2018 with the scarcity of petroleum products.

Baru, who disclosed this to State House correspondents in Abuja on Friday, reiterated NNPC’s position to ensure the pump price of fuel was maintained at the current official price of N145 per litre.

According to him, any marketer found hoarding fuel or selling above the official price will be punished.

“I’m happy to report that we have tamed the monster that reared it’s head as a result of the rumoured price increase about three weeks ago.

“Fortunately that rumour instigated a lot of marketers to be very greedy and they decided that their fellow citizens should not enjoy the Christmas holiday and New Year with ease and decided to profiteer starting by hoarding and diversion of products.

“At the beginning I did address the press, telling the world that we have sufficient products that will last us 30 days through the New Year into January but because the marketers wanted to inflict harm and pains on fellow citizens, they decided to hoard products, divert them and in some cases even smuggled products out of the country.

“This has been tamed by the actions we took and I personally led the war around Abuja and other teams led the war in Lagos and other parts of the country,’’ he said.

The GMD, according to NAN, noted that already the queues in the filling stations in Abuja had started disappearing, saying that normalcy would soon be restored in the distribution of the product.

He said: “As of this morning, I have gone round the Abuja metropolis and I have seen that the queues have reduced significantly to almost normal level and few motorists that I heard speaking on morning programmed concerning what I have seen said they have not spent up to 30 minutes to fuel their cars.

“So the monster has been tamed in Lagos, the situation has been brought into normalcy as far as two days ago and we are also aching the same thing in all other cities.

“I promise that we have sufficient products that will last us for the next 30 days and we keep bringing in 50 per cent over and above our normal consumption into the country.

“And vessels have been lined up, at the moment I have eight vessels discharging products at various ports around the country.

“So Nigerians should enjoy the New Year and that Mr. President’s directive and guidance which has been very helpful has been executed and normalcy has returned.’’

He advised those marketers that had hidden the products in odd locations to better bring them out and sell to the public at N145 per litre, saying “if NNPC sold it to you at N133.28, you have sufficient margin within that ambit to be able to supply and sell to the public at maximum N145 per litre.’’

According to him, the NNPC filling stations are selling the product at N143 per litre.

He warned that any marketer caught selling above the official price of N145 per litre would be sanctioned appropriately by the regulator, DPR and PPPRA with the support of law enforcement agencies.

He said the Nigerian Security and Civil Defense Corps (NSCDC), would make sure that the products were confiscated and given free to the public.

“This is the directive that we are working on by Mr. President and is being executed to the later. Bring them out and sell these products, we don’t have any shortage and we are making massive loadings.

“Normally we should be able to have 850 trucks to satisfy the National consumption but as at yesterday (Dec. 28) we loaded 1,750 trucks to go around the country.

“So we will continue massive load out until we reach the former position whereby all the stations will have products and truck siding,’’ he added.

http://www.metronaija.ng/nigerians-wont-go-new-year-petrol-scarcity-nnpc/

metroblogger:
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has vowed that Nigerians will not go into 2018 with the scarcity of petroleum products.

Baru, who disclosed this to State House correspondents in Abuja on Friday, reiterated NNPC’s position to ensure the pump price of fuel was maintained at the current official price of N145 per litre.

According to him, any marketer found hoarding fuel or selling above the official price will be punished.

“I’m happy to report that we have tamed the monster that reared it’s head as a result of the rumoured price increase about three weeks ago.

“Fortunately that rumour instigated a lot of marketers to be very greedy and they decided that their fellow citizens should not enjoy the Christmas holiday and New Year with ease and decided to profiteer starting by hoarding and diversion of products.

“At the beginning I did address the press, telling the world that we have sufficient products that will last us 30 days through the New Year into January but because the marketers wanted to inflict harm and pains on fellow citizens, they decided to hoard products, divert them and in some cases even smuggled products out of the country.

“This has been tamed by the actions we took and I personally led the war around Abuja and other teams led the war in Lagos and other parts of the country,’’ he said.

The GMD, according to NAN, noted that already the queues in the filling stations in Abuja had started disappearing, saying that normalcy would soon be restored in the distribution of the product.

He said: “As of this morning, I have gone round the Abuja metropolis and I have seen that the queues have reduced significantly to almost normal level and few motorists that I heard speaking on morning programmed concerning what I have seen said they have not spent up to 30 minutes to fuel their cars.

“So the monster has been tamed in Lagos, the situation has been brought into normalcy as far as two days ago and we are also aching the same thing in all other cities.

“I promise that we have sufficient products that will last us for the next 30 days and we keep bringing in 50 per cent over and above our normal consumption into the country.

“And vessels have been lined up, at the moment I have eight vessels discharging products at various ports around the country.

“So Nigerians should enjoy the New Year and that Mr. President’s directive and guidance which has been very helpful has been executed and normalcy has returned.’’

He advised those marketers that had hidden the products in odd locations to better bring them out and sell to the public at N145 per litre, saying “if NNPC sold it to you at N133.28, you have sufficient margin within that ambit to be able to supply and sell to the public at maximum N145 per litre.’’

According to him, the NNPC filling stations are selling the product at N143 per litre.

He warned that any marketer caught selling above the official price of N145 per litre would be sanctioned appropriately by the regulator, DPR and PPPRA with the support of law enforcement agencies.

He said the Nigerian Security and Civil Defense Corps (NSCDC), would make sure that the products were confiscated and given free to the public.

“This is the directive that we are working on by Mr. President and is being executed to the later. Bring them out and sell these products, we don’t have any shortage and we are making massive loadings.

“Normally we should be able to have 850 trucks to satisfy the National consumption but as at yesterday (Dec. 28) we loaded 1,750 trucks to go around the country.

“So we will continue massive load out until we reach the former position whereby all the stations will have products and truck siding,’’ he added.

http://www.metronaija.ng/nigerians-wont-go-new-year-petrol-scarcity-nnpc/

Oye0404:
Basketmouth don open mouth again oooooo *in fela's voice*
Do dis people think Nigerians are dullards nd dat gullible?