post=101539710:

E go shock u if u know how many cars dey Naija!

As at 3 years ago.
We have 12 million registered cars in Nigeria!
REGISTERED oooo!!


Na Confirm be dat o.

In my area, more young people are purchasing vehicles daily

It should have reduced due to the pandemic but due to Nigerian wonder, it more than doubled

I believe there is an opportunity that our eyes is yet to be opened to..that one that will bring nations to us and beg us to do biz with them

The high petrol consumption also indicates high carbon emissions.
We are killing our environment.

deetin:
At 150 per liter .. so what exactly is the government using these money or the profits to do ?

Jesus!

Esseite:
LIES....

- How did the consumption of petrol of increase from 30m litres of 2015, 38m litres of 2020 to 93m litres of 2021

- How can there be increase in petrol consumption when their is increase in poverty?

- How can there be increase in petrol consumption with lower buying power and price/litre over 70% of what it was in 2015?

- How can you have more increase in petrol consumption when you have more adaptation to technology?..

- How can you have more fuel consumption when you have more fuel efficient machineries?...

https://www.vanguardngr.com/2020/02/nigeria-consumes-38-2m-litres-of-petrol-daily-dpr/

Brilliant questions!

Esseite:
LIES....

- How did the consumption of petrol of increase from 30m litres of 2015, 38m litres of 2020 to 93m litres of 2021

- How can there be increase in petrol consumption when their is increase in poverty?

- How can there be increase in petrol consumption with lower buying power and price/litre over 70% of what it was in 2015?

- How can you have more increase in petrol consumption when you have more adaptation to technology?..

- How can you have more fuel consumption when you have more fuel efficient machineries?...

https://www.vanguardngr.com/2020/02/nigeria-consumes-38-2m-litres-of-petrol-daily-dpr/

Simple

We subsidise fuel

And a lot of the fuel is being smuggled to our neighbouring african countries where fuel costs above 300 naira per liter

Meaning marketers who do that earn a large profit

If you recall at the time that report was released, we were in the midst of a covid crisis, plus the borders were closed. nOW THE borders are open again...smuggling continues.

deetin:
At 150 per liter .. so what exactly is the government rusing these money or the profits to do ?

The government does not make a profit from selling petrol

Instead it makes a loss due to subsidies paid to keep fuel prices low.

Much of the fuel is smuggled out by the marketers who.buy from NNPC

chrisxxx:

The way out of it is to remove subsidy entirely. But if you only increase price but keeping it below the market price smuggling will still persist.

U haven't answered my questions:

How can increase in fuel pump price in Nigeria make d product more attractive in neighboring countries when PPPRA/FG says that increases in pump price is what actually makes d product unattractive in neighboring countries?

If u can identify nigerias fuel, will it stop d product from finding it's way to neighboring countries?

Why have d increases in pump over d years not discouraged snuggling in anyway?

marveangel:
Just imagine how much we are wasting to export crude to have it refined and them shipp it back to Nigeria. Just because a few greedy iidiots want to keep the cash flowing into their foreign accounts.

RuudVanNisteroy:

2023 is just two years away- let them cash out in peace.

We are exporting crude to have it refined because our subsidy regimen and the price controls we place on fuel means that it is not profitable to refine fuel in Nigeria , unless your name is Dangote.

Even Dangote , I doubt, is going to refine fuel in Nigeria at a cost below N200 per liter once his refinery comes on stream.

Subsidy has been in place since the late 1980's...and in practice it has meant that our refineres cannot be run profitably, meaning that we cannot sell fuel at the price that would enable both the refineries, and marketers make enough of a profit to ensure that the refinereis can stay well maintained and well run, and so that new refinereis can be built.(which is why if Dangote sells fuel at a subsidised price, his refienry would break down due to there being no profits to keep the refinery profitable)

And we are not the only nation in this mess....Iran too subsides fuel...and has no single refinery at all.

Meanwhile, Niger does not subsidse fuel, and thus has enough of a profit to keep its refinery running.

When there hasn't been light for weeks why won't the petrol consumption increase?

lexy2014:




How can increase in fuel pump price in Nigeria make d product more attractive in neighboring countries when PPPRA/FG says that increases in pump price is what actually makes d product unattractive in neighboring countries?

Im not the guy, but the thing is, a total removal of subsidy, not a partial removal of subsidy, will make the price of fuel as high as it is in Benin, Ghana, Niger, and Cameroon
However, since subsidy has gone, there would be an increase in more investment in refinereis, which increases production, and brings down the price here via competition...meaning that at the end of the day, there would be many countries lining up to buy our now cheap fuel

If u can identify nigerias fuel, will it stop d product from finding it's way to neighboring countries?

So long as subsidy keeps the price of fuel below the price in neighbouring countries, yes.

Why have d increases in pump over d years not discouraged snuggling in anyway?

Very easy...because no matter how much we increase the price here, it is increased higher in our neighbouring countries...eg when fuel was officially costing N87 here, it was costing as high as N150 in Niger republic. Today, fuel costs N162-5 HERE, in Niger it is now N377..ALL because the increases in prices here means that government has reduced the amount it spends on subsidsing fuel...not removing subsidy eniteirly (roughly speaking)

chrisxxx:

That is like cutting the neck to spite the nose
Removing subsidy like we have always heard will utterly stop smuggling. This I know.

yeah if Nigeria removes subsidy totally,the price of a litre of petrol could go high as 200+ and with this,it would drastically stopped beniniose from coming to Nigeria boarders with the hope of getting cheap fuel

chrisxxx:

That is like cutting the neck to spite the nose
Removing subsidy like we have always heard will utterly stop smuggling. This I know.

Exactly

But it also means that prices of food and so on will go up drastically...which is why no poltican or follower or party will really support subsidy removal.

Keemsleek005:



That's were PPRA comes in. They have staffs in every depot that keeps records of loaded product. Thats hiw they get amount of product loaded every month. The sudden increase in volume used is because the boarder as been opened again. So business as ususal.

Smuggling products to sell higher in neighboring countries.

Keemsleek005:



That's were PPRA comes in. They have staffs in every depot that keeps records of loaded product. Thats hiw they get amount of product loaded every month. The sudden increase in volume used is because the boarder as been opened again. So business as ususal.

Exactly..because fuel costs above N300 in all our neighbouring countries...so smuggling is basically incentivised.

deetin:
At 150 per liter .. so what exactly is the government using these money or the profits to do ?

You are charging your phone and also operating it the same time. Lol

Mind your battery o

lexy2014:


U haven't answered my questions:

How can increase in fuel pump price in Nigeria make d product more attractive in neighboring countries when PPPRA/FG says that increases in pump price is what actually makes d product unattractive in neighboring countries?

If u can identify nigerias fuel, will it stop d product from finding it's way to neighboring countries?

Why have d increases in pump over d years not discouraged snuggling in anyway?

Other countries like Benin and Ghana do not subsidize at all. If it is increased here in Nigeria but kept below the going international market rate it will still be attractive to smugglers.

During gej the corrupt and drunkard presido, fuel consumption daily was 30million litres.
Now that the messiah and a man conceived, begated on the bed of integrity, suffered for being robbed thrice on his assumed election victory, we r now consuming 93million litres daily of fuel.
Consuming these volume in the face of economic downturn, high unemployment rate, high poverty rate, high level of insecurity and many more..
Do buhari and his cohorts think all nigerians r zombies?
Who does this now..

90 million litres goes to generator set while the 3 millions goes to cars and other machines that consume fuel in Nigeria... useless country

deetin:
At 150 per liter .. so what exactly is the government using these money or the profits to do ?

Please stop displaying your ignorance.

Does govt sell fuel?

Laboni:
Smuggling products to sell higher in neighboring countries.

Correct, they will also collect PEF money too, so it's like double profit.

Lazycapitalist2:


Exactly..because fuel costs above N300 in all our neighbouring countries...so smuggling is basically incentivised.

Correct imagine buying product and with trucking money everything rounds to 200 and then sell for like 350 outside the country, then top it with PEF money. Smiling all the way. That's why some things wont work in nigeria or hard to stop.

Because people have to forcefully buy more litres because of the high pump prices.



It's not a miracle... It's simple economics

vizboy:
They should continue stealing in the name of subsidy..

I wonder why they can't allow market dictates price of petrol

the problem is if they allow market dictate the price of PMS and petrol price enters N300, majority of Nigerians will complain.

Ninety percent of the fuel are consumed by generator usage.

RuudVanNisteroy:

I dey wonder self under this harsh economy. People they trek go work.

Asin eh

RuudVanNisteroy:

2023 is just two years away- let them cash out in peace.

Yes oo 3023 is just two years away