Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,166,362 members, 7,864,689 topics. Date: Wednesday, 19 June 2024 at 01:09 AM

Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike (23555 Views)

Petrol Stations Shut Down In Kano As Fuel Scarcity Bites Harder / IPMAN Directs Closure Of All Fuel Stations In Oyo / Radio Biafra Reportage On Lagos Fuel Tanker Explosion (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by Menclothing: 7:08am On Aug 15, 2023
CBN should make forex available
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by lizko(m): 7:13am On Aug 15, 2023
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by lizko(m): 7:14am On Aug 15, 2023
Is the system that is giving vacum for all this nonsense.
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by UnfairLife7(m): 7:18am On Aug 15, 2023
favor914:
Then the lazy ones like you @ the bottom, are not part of the mess?

Just to complain year after year, you want to enjoy without sacrificing? You never start to suffer yet.
your Emilokan people are the ones suffering. They are begging Emeka and Chukwuma to sell foodstuffs for them on credit. An average igbo man are into business. Your Emilokan people are either jobless, doing Agbero or salary earners whose take home obviously do not take them home. Your Emilokan has increased poverty and unemployment from where Buhari left it.

Don't worry $$ will get to #1,500 before the end of the year. A bag of rice will obviously get to 60-70k. Fuel might get to 1k per litre.

Igbos are suffering while your Emilokan are living large grin
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by oka4ugoo: 7:28am On Aug 15, 2023
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.

That's business. If they finish their stock at the rate of old price where do you expect them to make up the difference to buy at new price.
Business is for profit not for charity
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by xukwaa: 7:44am On Aug 15, 2023
Honestly, on the area of forex devaluation, does it imply that the situation could have been far better if PDP had retained power since 2015? Just thinking.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by Officialmrt: 8:14am On Aug 15, 2023
Reference:


Hehehehe...the thing is becoming serious abi. As they said. Be careful what you wish for. The reality show has just started.

Anyway, elections will always have consequences. Politics is long gone. The time for governance, the real deal is at hand.

Better be prepared to hear more. Nigeria is in a real mess.

Noted....face your family issues first
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by Shikini: 9:41am On Aug 15, 2023
Terrible
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by mikeapollo: 9:55am On Aug 15, 2023
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.

Shut up if you cannot address the root cause of the problem!
Marketers are in business to make profits. If your government is so useless and cannot hedge against the unnecessary price hike of petroleum products, then don't blame the marketers because they may run into losses if they should sell old stock below the landing price of the next consignment.
Face your useless government that has made US Dollar to rise to almost N1000 and still importing refined products after spending billions of naira as turn around maintenance (TAM) on the refineries!
The same marketers sold fuel at much less price when the conditions were right for them to do so.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by DDDDDav: 10:03am On Aug 15, 2023
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.

You bought tubers of yam at the rate of N500. You sold for N550 to make N50 profit per tuber. Now you went back to the market to buy new set and you are told that the new price rate is N600. What would you? Systematically, you are out of business. That is what the marketers are trying to avoid.

It is suppose to be vice-versa. Meaning that at times , prices will come down. Therefore those who have old stock won't be able to sell their old stock with the same profit. They have to lower their price, else customers would shun them and go buy from those selling at lower price
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by ceeceeco: 10:29am On Aug 15, 2023
Naija na werey. Una never see anything.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by breezeng: 10:30am On Aug 15, 2023
Thatis not true my brother. Though i am not defending the marketers but from my own points of view, i realize that most of those marketers will go out of business if they dont sell old stock at new prices. They may need almost 300% of there capital to by new stock at increased rate , whereas the get these funds as bank loans. I justpity everyone in this country

badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by FIRDAUS3(m): 11:20am On Aug 15, 2023
Taylor90:
Una never see anything

This one na preamble

Wait till he embarks on medical tour soonest because his battery should be at 8%

Na that time Shettima go take over

And watch how Boko Haram and bandits go use more people do barbecue

And economy will go down 8million feet deeper from the earth surface

Vote wisely vote wisely una say he built Lagos


This your prayer for Nigerians will not come to pass. Throughly Mr. President got it wrong, but we need to be positive.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by CorrectionFLuid: 11:58am On Aug 15, 2023
badoh:
These marketers are very wicked. Once there's speculation about price hike, the next thing they do is closing their filling stations and then creating artificial scarcity. Their plan is to sell their old stock at the new price thus making excess profit on the old stock. People will just be exploiting and making life inconvenient for their fellow citizens and they are the same set that will be blaming people at the top for corruption.

When a salary earner talks you go know. His salary enters whether or not profit is made. SMH

Let me educate you a little.

Assuming you purchase 10 PCs of goods at #100 each. You sell at #120. That means at the end you make #1200 at the cost of #1000 with #200 profit.

So you already sold half and you have #600
Suddenly the cost price rise to #150.
If you keep selling at #120, will you be able to buy the same 10 PCs?

You still also have to factor the uncertainty of the commodity price, and the inflating tax regime.

And you still have to pay salary to your employees, some of them as ungrateful as you.
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by Sirchigo4: 12:52pm On Aug 15, 2023
IconicR:
Hmmmm let me not say anything.
Are they contributing to problems already or not?
Nigerians are their own problem.

This one u did not blame on it on obi or ipob?
Has the shege pro max reached u?
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by onlyboyson(m): 2:48pm On Aug 15, 2023
Asiwaju never come,he is still coming 😅😅😅
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by YouAreNobody: 3:50pm On Aug 15, 2023
Eecho:
You are nobody . You self know
Chillax, I'm just quoting those useless fools who keep voting useless leaders due to tribalism
Re: Petrol: Lagos Fuel Stations Shut Down Over Speculation Of Pump Price Hike by Exceed15: 6:42pm On Aug 22, 2023
Una never see anything. Mumu apc supporters

(1) (2) (3) (4) (5) (Reply)

2019 Presidency: South West PDP Group Endorses Gov. Dankwambo / Lai Mohammed Inspects Road Constructions In Kwara State (photos) / Buhari Aide, Garba Shehu Mocks Oby Ezekwesili Asked "What Is Oby?"

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.