N

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

The more important question will be what is considered as market forces...

Cos something tells me that it's these politicians they are referring to.

Sisora:
Nonsense.

How can market forces operate when there's no free entrance?

Only one supplier in the market. Of course it'll need to be regulated.

They have planned the Monopoly well for Dangote.. those ab0kis know what they are doing.

Soon market forces will affect prices of PMS in Nigeria while same product will be way cheaper in Niger Republic.

This is a huge step in the right direction. The next steps must be to ensure

(i) that the import requirements are quick and easy to meet - so no nonsense with needing to beg some "director" or "chief" somewhere for a license, and

(ii) that there are no burdensome import tariffs put in place to tilt the playing field in favor of Dangote.

The second point is particularly important, as many Nigerians are particularly gullible whenever monopolists wheel out faux-nationalist rhetoric about "independence" and "self-sufficiency". There is nothing intrinsically wrong with imports, and paying over the odds for a commodity product like petroleum makes no sense from either an economic or a strategic point of view.

Las las petrol will sell for N1,000 and above. Nigerians don enter one chance for allowing babablublu to come in.

Good news! Let their be competition.

Good. Let the market determine the price. That's the way its supposed to be.

Blaze14k:


Some one you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

You don't know the forces of demand and supply, nor the law of competition. They can only determine the prices to the extent they monopolize the market, but as many that can get into the business, the prices will definitely crash. Its a given. Remember what happened when gsm came in newly. Mtn and Econet monopolized the market but immediately glo came in, the price crashed

datola:
Yes. It's fine. But your agency too should be scrapped and the directors including you sacked.

The MMDPRA is not a price setting agency. It is replacing the old price setting agency. No more price regulation

All as the new PIA prescribes.

Blaze14k:


Some one you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

What indicates the fact that he is a Tinubu supporter ?
Can you now see how unintelligent, silly, stupid and infantile you are ?
You think and write exactly like the Obi supporters - emotions rather than the brain controls you.

Sisora:
Nonsense.

How can market forces operate when there's no free entrance?

Only one supplier in the market. Of course it'll need to be regulated.

Did you miss the following passage?

Mr Ahmed further disclosed that marketers are now free to source their foreign exchange anywhere around the world to import petroleum products and recover their costs without impediments.

On where the importers will source their forex from, Mr Ahmed said the CBN would not give dollars to anyone because of the open market, adding that anyone willing to import should get the dollars from anywhere to import.

According to him, anyone willing to open a letter of credit from any part of the world can do that to import.

Of course, we still have to see whether it will be this free in practice (and what sort of tariff will be imposed on the imports), but it looks like there will be no shortage of competition going forward.

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

Just as it came down after subsidies were removed from diesel and kerosene right?

Cheeryfeet:
You don't know the forces of demand and supply, nor the law of competition. They can only determine the prices to the extent they monopolize the market, but as many that can get into the business, the prices will definitely crash. Its a given. Remember what happened when gsm came in newly. Mtn and Econet monopolized the market but immediately glo came in, the price crashed

Just as it came down after subsidies were removed from diesel and kerosene right?

Na to remove subsidy be the problem,but what is being put into place to caution its aftermath effects

https://www.youtube.com/watch?v=QIBAyyxc4lk

https://www.youtube.com/watch?v=QIBAyyxc4lk

Then we come back to the table

Omoapena:
This country is gradually killing its citizens, removing subsidy outrightly isn't a right decision to take, at least reduce the subsidy by 50% and watch how things unfold for 1year, by then, people would have adjusted then remove the remaining 50% after a year...


God will save this country from this incompetent leaders

The just removed it without and control measure and that's really bad . Shows they have no plans and have no idea what they are doing at all.

KingKO22:
Good

At worst petrol should not be more than 450 in Nigeria

No matter how bad international market is

Under your naira currency petrol should be 120 per liter, subsidy have nothing to do with our refinery and our oil

KingKO22:
Good

At worst petrol should not be more than 450 in Nigeria

No matter how bad international market is

I want to. Believe this too.all this public looting has to stop.Open market system would sure bring down the price gradually though if them no form oil impoters cabal on this !!

If they can guarantee their availability...no wahala with the price !
.

Let's see the action of organised labour so that we can know if they can bite

And why can't we just build modular refinery to bring down these costs of finished products ?

It is very important at this juncture for government to liberalize the importation of refined crude oil products.

Presently, the cost of a license is about N500m or more. This is just insane.

NzogbuNzogbu:
No wahala

Can this Ahmed agency now be scrapped

I don't even understand this government sef

thinking in that pattern just now too sir.most of this regulation /deregulation bla bla should be scrapped off. Most of them are redundant and publicly financially tasking .Even task force in oil company ,since we now have open market, only the best oil importers will sure sell most

All those positions it's not fit for people from other region like the southerners...

Blaze14k:


Some of you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

I thought you're intelligent..... who is determining the price of airtime and data when deregulation took place in the telecommunications sector.

Same is going to happen in power and oil & gas

gidjah:
I want to. Believe this too.all this public looting has to stop.Open market system would sure bring down the price gradually though if them no form oil impoters cabal on this !!

when last do you heard caba in oyinbo Man sentence ____ cabal- poor -hustle - / have no respect in British territory

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

Which mumu market are you competing with?

Dangote refinery will be the only refinery we have for some time until the other government refineries are fixed imported fuel will cost as much as the price of dollar per liter. You don't expect the importers to sell lesser than they sourced the product.

unite4real:



Just as it came down after subsidies were removed from diesel and kerosene right?

You raise a good point, but the problem is....things are not cheap.

Yeah , prices of kero and diesel have gone up, because until 2013, the government spent millions upon billions of naira protecting you from the real price of the things. And in the process we were having scarcity from time to time (am old enough to recall queues for kerosene)

Look, things cost money. Because the people who bring the kerosene to you, all want to be paid...from the refinery worker, shipper, etc...all want to be paid. And it also costs money to repair, maintain, and upgrade refining facilities.

And they wont get paid if we were paying something like N20 for a liter of kerosene.

If you are getting something for cheap...either 1) it was made substandardly or 2) someone somewhere is paying for it. At a heavy cost.

Omoapena:
This country is gradually killing its citizens, removing subsidy outrightly isn't a right decision to take, at least reduce the subsidy by 50% and watch how things unfold for 1year, by then, people would have adjusted then remove the remaining 50% after a year...


God will save this country from this incompetent leaders

Oga the shit keeps growing every year because of inflation. Let the removal be total for once! Enough of cowardly policies. Sitting on the fence does not bring about development. Subsidized petroleum products make their way to neighboring countries at the expense of Nigeria. How long should we continue to feed the monster? You guys should stop crying. Subsidy is gone! Say goodbye to it and be at peace with reality.

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

Come down more than the country it was imported from??

God bless NIGERIA

Omoapena:
This country is gradually killing its citizens, removing subsidy outrightly isn't a right decision to take, at least reduce the subsidy by 50% and watch how things unfold for 1year, by then, people would have adjusted then remove the remaining 50% after a year...


God will save this country from this incompetent leaders

You are part of the evil 50 percent what so we should be paying subsidies for neighboring countries


Fuel subsidy no more