To the dulllaarrds asking "Why fix price?"

NNPC have the right to put a price on their product.

And it can change from time to time.

Every other player is free to fix their own price.

nairalanda1:
Prices will come down

It happened with the GSM sector. SIM cards were expensive in 2001. So expensive that as a student, I laughed when someone like V -mobile came advertising with their then N20000 package. (Just the sim).

Now, thanks to competiton, the prices of a SIM are so low, I've gone through over 5 of them in the last 14 years. Lol.

The same thing will happen with fuel...but it won't be below 200 naira anymore. That ship has sailed.

Your education is a waste

So why didn't competition bring down the price of diesel?...using your analogy.

nairalanda1:
Prices will come down

It happened with the GSM sector. SIM cards were expensive in 2001. So expensive that as a student, I laughed when someone like V -mobile came advertising with their then N20000 package. (Just the sim).

Now, thanks to competiton, the prices of a SIM are so low, I've gone through over 5 of them in the last 14 years. Lol.

The same thing will happen with fuel...but it won't be below 200 naira anymore. That ship has sailed.

Oga Nigerian's are wise now.keep lieing to your ancestors.

Dotherightthing:
To the dulllaarrds asking "Why fix price?"

NNPC have the right to put a price on their product.

And it can change from time to time.

Every other player is free to fix their own price.

Why have you decided to be unfortunate?
NNPC is the sole importer of fuel.
Your education is a waste

Sir what are you saying? Competition brings down price of commodities but sir in this case there is a big factor that needs to be checked very well and thats whether the investors will will be buying the crude from the government and allowed to refine. If it is so then there is no way competition can bring down the price of fuel here.

One sector of the economy is cashing out real big at the moment.

Vision101:
@LeoDeKing
Competition will force down the price, yet you pegged the price, total bullshit.

Truly, removal of subsidy is synonymous to liberalisation of the industry, but then, why fixing prices?

Besides, Petroleum marketers have association, that is the where a price is fixed. Any marketer who sells in defiance to the agreed price will be sanctioned.

So stop the dogshit of prices coming down on account of any imaginary competition.


@me
Nnpc didn't peg any price. Nnpc fixed their retail economic price. Any marketer is at liberty to fix their own economic price either lower or higher.

If you want to buy fuel now you have to shop around for the lowest price. No regulated price anymore.

You must be related to lai Muhammed

Parachoko:
There are other major and powerful companies in the oil sector who can compete with Dangote.

Well, I hope more Modular refineries will spring up very soon

So no major competitors for cement right?

Dey play

LeoDeKing:
[b][/b]
Competition will force down the price, yet you pegged the price, total bullshit.

Truly, removal of subsidy is synonymous to liberalisation of the industry, but then, why fixing prices?

Besides, Petroleum marketers have association, that is the where a price is fixed. Any marketer who sells in defiance to the agreed price will be sanctioned.

So stop the dogshit of prices coming down on account of any imaginary competition.

Do you really understand the issues?

NNPC as a company rolled out the prices of their product and your are talking of price fixing?

Is NNPC pricing the same as that of Oando , MRS or Total?

ambale:


So no major competitors for cement right?

Dey play

Is there a cement company as wealthy as Mobil competing against Dangote in the cement industry in Nigeria?

dalaman:


Tinubu doesn't know what he is doing for now. He doesn't have good options though.

tinubu knows what he is doing,on his mandate we shall stand

Thank you for generating clear implementation options but my own is allow kpofire in the south-south,because our leaders are on the verge of betraying the entire region,south-south people should take their destinies in their hands. since certain individuals couldn't allow the govt-owned refineries in port harcourt and warri to work allow for artisanal refining people are no longer bothered about subsidy removal-very simple deal and you are running from pillar to post.

I believe the removal of subsidies of fuel is a good thing, on the long run, prices will come down. What I want to know is what calculations NNPC ltd did to arrive at their prices, u just woke up and said this is the price without consultation among stakeholders and shareholders of the company?

If I wan fill my tank now... Na to hold 30k

[Dont be deceived...No independent marketer would sell below the price fixed by NNPC....They are in business solely for profit motive....]

NNPC only fixed priced at their own retail outlets, other marketers of the commodity can set their own prices. That's the competition he's talking about. [/quote]

peekspot:

https://punchng.com/subsidy-petrol-price-will-come-down-says-nnpc/

Story for the gods.

He makes sense.

Dotherightthing:
To the dulllaarrds asking "Why fix price?"

NNPC have the right to put a price on their product.

And it can change from time to time.

Every other player is free to fix their own price.

Exactly.

peekspot:

https://punchng.com/subsidy-petrol-price-will-come-down-says-nnpc/

buhari go appoint person when em name na kolo.

Profwriter:


Your education is a waste

You better dream of androids, young paddi...

chrisxxx:

[b]Do you have head at al[/b]l?

Thanks for being abusive and childish, and good afternoon...and behave your age.

Standing5:
Senseless and corrupt liars everywhere.

Force down prices? What you would probably get is a collusion amongst marketers as has always been the case in this country

pinkasso:
So why didn't competition bring down the price of diesel?...using your analogy.

Because the industry was still losing money from selling petrol...which has knock on effects on other sectors of the same industry.

You got to make profits everywhere, not in some parts....

peekspot:

https://punchng.com/subsidy-petrol-price-will-come-down-says-nnpc/

For where, what ever that goes up in Nigeria does not come down.

Profwriter:


Why I have you decided to be unfortunate? !
NNPC is the sole importer of fuel.
Your My education is a waste

Alright.

NNPC is the sole importer only for now! Eventually, they won't be able to do more than 30% of the nation's fuel supply. It is in the post. Learn to read!

And they are working with oil marketers who are free to fix whatever price they wish.

KOLO Kyari 🤔

Belief In The Efficacy Of Market Forces

This is economics. And, this is logic! The natural order of things, the sequence of market dynamics : the higher the supply or glut of products, the cheaper the prices if the supplies outweigh demands.

I know many- stupid enough- would still treat it with brazen scepticism.

It's simple enough. If Nigeria had enough refined products, perhaps, the price of petroleum products would have been ten times cheaper.

For this Nigeria ke?

NNPC goofed by fixing the pump price. They should have kept quiet and sale their own products at any amount they want

I cannot even remember when last NNPC sold fuel in my area .

LeoDeKing:
[b][/b]
Competition will force down the price, yet you pegged the price, total bullshit.

Truly, removal of subsidy is synonymous to liberalisation of the industry, but then, why fixing prices?

Besides, Petroleum marketers have association, that is the where a price is fixed. Any marketer who sells in defiance to the agreed price will be sanctioned.

So stop the dogshit of prices coming down on account of any imaginary competition.

Keep quiet and buy. Stop the noise.

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