FREE! FREE!! FREE!!!

VULCAN:
What works elsewhere doesn't work in Nigeria so stop with the analysis.

What will surely happen is that the majors will agree on a very high price range and each will sell within that range.

Most people think oil business is like gsm so they erroneously believe that prices will fall like gsm. Both industries have different DNA

The same was said of GSM...and prices eventually fell.

Thing is...the only way you are going to keep prices low is by paying a subsidy...which we don't have enough money to pay for...or by setting prices...which means businessmen cannot make a profit...and which is bad for the economy.

I appreciate that most Nigerians cannot afford high fuel price...but we cannot afford subsides,and subsidy scams again.

debaj10:
query your petroleum minister.

E fit query Buhari?

THATS THE CHANGE YOU VOTED FOR.......N260 PER LITRE

ikorodureporta:
...& nobodi dey talk

This is the type goverment that befits nigerisns,see how they are enjoying their suffering without complaints sometimes even offering excuse for their oppressors during Jonathan same product was sold for 50/litre now its 360/litre isn't this change wonderful.

As part of efforts to reduce youths’ unemployment, the federal government has on Monday unveiled an Advisory Group on Technology and Creativity. The new advisory body is part of the Industrial and Competitiveness Advisory Council established by President Muhammadu Buhari in 2017...

Details here: https://www.9to5.com.ng/2018/06/12/fg-inaugurates-advisory-group-on-technology-creativity/
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Rickyzagy:
Why can't NLC PROTEST This?

They are in bed with the oppressors of the masses, they are part of the problem, they can't bring solution

aftermath of demonic CHAINge!

buhari is the most useless thing I ever voted.


the CLANISH /redundant sadist is a waste of my vote.

Free! Free!! free!!!

pelicanbeau:
many are no more using this product but resolved in the use of domestic gas and why the hike in price and scarcity of the product?

Who is this lady that all of you are using her pics.?


I would love to know her

Can you connect me to her.?

Irrespective of whatever opinion. .Dieziani knew her job as a petroleum minister

And one fool is giving us reasons why the idiot deserves another term

theoldpretender:



So you want buisness people to sell kerosene at a loss?

The reason why our downstream sector is in a mess is because government controls prices.


And as a result, people cannot make profits as they should..leading to scams, lack of money to fix refienreis, etc..

Better we deregulate the whole thing...and allow marketers sell kerosene at the price they want to sell it. Prices will shoot up, but....investment will flow in,and prices will eventually fall because competition.

And all those subsidy scams will stop...because who wants to be doing scam when you can earn much more under deregulation?

DID YOU SAY ALL THESE RUBBISH WHEN THE PAST ADMINISTRATION INCREASED THE PUMP PRICE?

seguno2:


Are you okay?
Did someone hack your account
Are you just realising that Buhari’s mission is to steal, to kill and to bury the long suffering people of Nigeria?

I was wondering the same thing.Such a confirmed Zombie. These Zombies should realize that we all go to the same market with Senators collecting nearly 30 million naira a month, and the children of Law makers together with children of military officers that are collecting 200,000 naira monthly as Niger delta militants. If you like increase fuel, nothing will affect them,

Ahmeduana:

DID YOU SAY ALL THESE RUBBISH WHEN THE PAST ADMINISTRATION INCREASED THE PUMP PRICE?

Considering that it was the arguments propounded by GEJ's admin back in 2012 that finally convinced me,a diehard 'subsidy or else' fan to change my mind....yes.

Plus, we don't have the cash anymore.We need oil to be at $140 per barrel before we can afford to subsidise fuel.

I thought NNPC was bad under Diezani. This Baru nigga has brought a whole new level of opacity and dysfunction to that institution. Can we privatize that organization already and be done with it?

ikorodureporta:
N280 d last tyme i bought, & petrol no reach N200. Na poor ppl like suffer??

Start using cooking gas!!

theoldpretender:
So you want buisness people to sell kerosene at a loss?

The reason why our downstream sector is in a mess is because government controls prices.

And as a result, people cannot make profits as they should..leading to scams, lack of money to fix refienreis, etc..

Better we deregulate the whole thing...and allow marketers sell kerosene at the price they want to sell it. Prices will shoot up, but....investment will flow in,and prices will eventually fall because competition.

And all those subsidy scams will stop...because who wants to be doing scam when you can earn much more under deregulation?

Note: Deregulation , to anyone that is interested, means that government hands off pricing kerosene, petrol...and allows marketers set prices as they want...so Buhari's price increases are not deregulation at all...since govt is still determining the price.

Oga, your analogy does NOT work for the Nigerian market. Diesel was deregulated a few years back, but has the price fallen? How many people are importing diesel today? From 198-205 naira per litre in February, diesel has now become 240 naira per litre in June 2018. Why?

1). Inadequate local refining capacity.

2). Increase in crude oil prices, leading to corresponding increase in petroleum product prices derived from crude.

3). Fluctuations in foreign exchange rate, used to import petroleum products.

As long as these factors are not stabilised, price of petroleum products like diesel and kerosene will continue to rise. Petrol is still stable for now, because prices are controlled by govt and subsidy is still being factored into the price.

theoldpretender:



So you want buisness people to sell kerosene at a loss?

The reason why our downstream sector is in a mess is because government controls prices.


And as a result, people cannot make profits as they should..leading to scams, lack of money to fix refienreis, etc..

Better we deregulate the whole thing...and allow marketers sell kerosene at the price they want to sell it. Prices will shoot up, but....investment will flow in,and prices will eventually fall because competition.

And all those subsidy scams will stop...because who wants to be doing scam when you can earn much more under deregulation?

Note: Deregulation , to anyone that is interested, means that government hands off pricing kerosene, petrol...and allows marketers set prices as they want...so Buhari's price increases are not deregulation at all...since govt is still determining the price.

Lies everywhere, that was what you guys said and

LaudableXX:

Oga, your analogy does NOT work for the Nigerian market. Diesel was deregulated a few years back, but has the price fallen? How many people are importing diesel today? From 198-205 naira per litre in February, diesel has now become 240 naira per litre in June 2018. Why?

1). Inadequate local refining capacity.

2). Increase in crude oil prices, leading to corresponding increase in petroleum product prices derived from crude.

3). Fluctuations in foreign exchange rate, used to import petroleum products.

As long as these factors are not stabilised, price of petroleum products like diesel and kerosene will continue to rise. Petrol is still stable for now, because prices are controlled by govt and subsidy is still being factored into the price.

Problem is, for how long?

Plus, it does not strike me as good business practice when government dictates your profits, which is what subsidy does.

Plus, subsidy scams happen because people are importing and selling at a loss.

If we deregulate, prices will go up, but there would be money to fix pipelines, invest in new refineries and so on.

Rather than pour money down a big hole in the name of subsidy, money that could have been spent on things like....railways.


Anyway, we need oil at 140 dollars according to Fitch to balance our books. Oil is at seventy now. Where is the money to keep paying subsides coming from? (More loans, no doubt)

nkul:





Lies everywhere, that was what you guys said and

1. Let me correct a misunderstanding you have. What Buhari did in 2016 was not deregulation, but partialprice increase.....due to the fact that the import costs of fuel had gone up to N130 per liter...and fuel was still being sold at N87

2.Deregulation would have involved Buhari essentially telling marketers that they can set any price they want for fuel....government won't intervene...so in theory a marketer could sell fuel for N200 while his neighbour can sell for N300...and no one wouldbother.

3.The GSM was deregulated from the word go. Goverment allowed MTN and ECONET(now AIRTEL), later globacom and etisalat (now 9 mobile) set their prices without government interference. Back then that meant SIM cards could cost as much as N10000 (2001-3 ). By 2005/6...SIM cards cost N400 and less...due to increased investment, lots of money flowing in since companies could makeprofits,and new investors coming in...

4.Now if Govt allows complete deregulation as regards petrol....no more 'Fuel is N145'.....sure prices will shoot up. Sure costs will go up...but as money flows in,more investors will come in, there would be funds for refinereis, new support infrastructure...and eventually....prcies come down.

theoldpretender:
1. Let me correct a misunderstanding you have. What Buhari did in 2016 was not deregulation, but partialprice increase.....due to the fact that the import costs of fuel had gone up to N130 per liter...and fuel was still being sold at N87

2.Deregulation would have involved Buhari essentially telling marketers that they can set any price they want for fuel....government won't intervene...so in theory a marketer could sell fuel for N200 while his neighbour can sell for N300...and no one wouldbother.

3.The GSM was deregulated from the word go. Goverment allowed MTN and ECONET(now AIRTEL), later globacom and etisalat (now 9 mobile) set their prices without government interference. Back then that meant SIM cards could cost as much as N10000 (2001-3 ). By 2005/6...SIM cards cost N400 and less...due to increased investment, lots of money flowing in since companies could makeprofits,and new investors coming in...

4.Now if Govt allows complete deregulation as regards petrol....no more 'Fuel is N145'.....sure prices will shoot up. Sure costs will go up...but as money flows in,more investors will come in, there would be funds for refinereis, new support infrastructure...and eventually....prcies come down.

theoldpretender:
Problem is, for how long?

Plus, it does not strike me as good business practice when government dictates your profits, which is what subsidy does.

Plus, subsidy scams happen because people are importing and selling at a loss.

If we deregulate, prices will go up, but there would be money to fix pipelines, invest in new refineries and so on.

Rather than pour money down a big hole in the name of subsidy, money that could have been spent on things like....railways.

Anyway, we need oil at 140 dollars according to Fitch to balance our books. Oil is at seventy now. Where is the money to keep paying subsides coming from? (More loans, no doubt)

Wait first...are you a Nigerian living in Nigeria, or are you a Nigerian living abroad, who is not in tune with the realities of life on ground here?

Each time, prices of petroleum products have been increased, the excuse given by government is that such "money would be used to fix pipelines, invest in new refineries, upgrade infrastructure, alleviate poverty etc." And each time prices are increased, no such thing takes place! It is all a lie!

As long as your naira continues to fluctuate negatively to the US dollar, prices of petroleum products would continue to increase. If you remove subsidy on petroleum products such as petrol and kerosene today, inflation would wipe away anything you have gained from such an action. Why? 80% - 90% of your transportation of goods, services and people is done by road, in Nigeria. A lot of alternative sources of power for domestic use & MSMEs, relies on petrol gensets. Any increase in petrol prices would automatically push up cost of goods and services.

So how do you prevent prices from spiralling out of control or how do you contain it? A multi-dimensional approach is needed to solve this issue. Govt cannot afford to build any new refineries today. Anyone waiting for govt to do so, is living in a fool's paradise.

Govt should be putting in place enabling laws, policies, guidelines to promote establishment of refineries, by private firms or the organised private sector. Rail transportation of goods and passengers, needs to be urgently overhauled and improved to reduce dependence on road transport.

Power supply needs to improve significantly, to reduce usage of petrol gensets. Foreign exchange stability needs to be actively pursued and implemented, using a variety of mechanisms. It would take ages to expantiate on these aspects. But all these factors listed above, need to be addressed before deregulation kicks in, or else the outcome may be worse than the problem you are trying to resolve.

Every country in the world subsidises something. But it is important to ensure that such subsidies are channelled in the right direction, to alleviate the suffering of the poor and vulnerable, as well as to cushion the effects of inflation so that it does not wreck the economy.

LaudableXX:
Start using cooking gas!!

neva

ikorodureporta:
neva

Then stop complaining about the hike in kerosene prices.