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Nairaland Forum / Nairaland / General / Politics / FG Ends Kerosene Subsidy, To Sell For N83 Per Litre (26508 Views)
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FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Nobody: 9:03pm On Jan 24, 2016 |
The Federal Government, weekend, hiked the price of Household Kerosene (HHK) also known as kerosene, to N83 per litre from N50 per litre, thereby, officially ending subsidy on the product. The Petroleum Products Pricing Regulatory Agency, PPPRA, in its product pricing template released over the weekend, however, stated that the N83 per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount. Curiously, the hike in the price of kerosene was coming at a time when the price of crude oil had dropped to record low, with the price of petroleum products, such as kerosene, fuel and diesel, among others, dropping significantly in a number of countries, like the United States. This also brings to question, the recent reduction in the price of Premium Motor Spirit, announced by the Federal Government and which commenced at the beginning of the year. Again, the PPPRA's template also showed that at N83 per litre, the Federal Government is making a gain of N10.72 for every litre, as it puts the Expected Open Market Price, which is the Landing Cost plus Total Margins at N72.28 per litre. The expected open market price is the prevailing open market rate for the productin Nigeria, after taking certain costs into consideration. Giving a breakdown of the price, the PPPRA template put the Landing Cost of the product at N57.98 per litre, while the total margin due middlemen was put at N14.30. Further breakdown of the Total Margins showed that retailers margin was put at N5per litre; Transporters - N3.05 per litre; Dealers - N1.95 per litre; Bridging fund - N5.85 per litre; Marine Transport Average - N0.15 and Admin Charges - N0.15. The PPPRA further put official ex-depot price, which is the price depot owners would sell at marketers, at N68.70 per litre, official ex-depot price for collection - N73 per litre, while ex-coastal price - N68.02 per litre. http://www.vanguardngr.com/2016/01/fg-ends-kerosene-subsidy-hikes-price-to-n83-per-litre/ 6 Likes 2 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Akkord4gov: 9:07pm On Jan 24, 2016 |
I don't have problem with removal of subsidy,what I have problem with is the benefit that will come after the hardship. In a sane country,removal of subsidy from a sector will bring development to not one but numerous other sectors 10 Likes 2 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by peacengine(m): 9:12pm On Jan 24, 2016 |
More woes for the common man. 54 Likes 5 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Jusmudi(m): 9:13pm On Jan 24, 2016 |
Moni nr dey, kerosene moni dey increase. Shio Wetin dis govt don do, fight corruption, fight corruption man nr get work, fight corruption, fight corruption, Lassa disease dey kill many pipo, fight corruption, fight corruption, workers dey loose dia job, na so so corruption u go fight we go end up in 2019 118 Likes 9 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Inspectahdeck(m): 9:14pm On Jan 24, 2016 |
Better when it was subsidised (suppose N50) they sold it above N250 so who is fooling who. Great development 91 Likes 4 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by AngryNigerian(m): 9:16pm On Jan 24, 2016 |
My mum has been buying kerosine @ #105-#120, so how would this news be helpful We are in perilous times, honestly! However, wetin concern #Agbero with #Overload? I still get gas for a far cheaper price, just hoping that Tompolo wouldn't go ahead with his threat! It has been #Angry#Nigerian ...and I'm just here to #SayMyMind 39 Likes 3 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Femsyn(m): 9:17pm On Jan 24, 2016 |
Awesome development. Another way to block unnecessary leakages. 22 Likes 1 Share |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Nobody: 9:21pm On Jan 24, 2016 |
AngryNigerian:if you were truly buying it for that price, it means you should get ready for approximately 210 per litre now. Its time to start using fire woods 62 Likes 1 Share |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by STARGREEN(m): 9:21pm On Jan 24, 2016 |
End subsidy on fuel, end subsidy on kero, hope this isn't End time government? 22 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Nobody: 9:43pm On Jan 24, 2016 |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by AngryNigerian(m): 10:17pm On Jan 24, 2016 |
blueto: No...will get ready to invest in mini-gas station soon, & get a gas cylinder for mumsy 15 Likes 1 Share |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by LRNZH(m): 10:21pm On Jan 24, 2016 |
Great news. Another way to break up this cabal. Fire on Baba. 26 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Nobody: 10:22pm On Jan 24, 2016 |
There was never a subsidy on it. it has been 550 a gallon since time imo river 4 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Mynd44: 10:43pm On Jan 24, 2016 |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by fulfillbill(m): 11:05pm On Jan 24, 2016 |
#chai 24 Likes 1 Share
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Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by seunselGic: 11:05pm On Jan 24, 2016 |
I think it's a good one 1 Like |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Junki04(m): 11:08pm On Jan 24, 2016 |
my mom sells and she's been buying for over N100 since like forever, doesn't change nothing |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by LordAdam: 11:09pm On Jan 24, 2016 |
Good one. I can authoritatively say that the N50 kerosene subsidy scam has been just as rewarding if not more than the petrol subsidy. Every non-NNPC station sold Kerosene for above N50 all these years since that subsidy was introduced. I am a vocal pro-GEJ proponent and also a Nigerian. All good policies must be appreciated irrespective of the administration. For all those whining about the effect on the common man. If the "common man" did not bother about buying a liter for over N100 when the government subsidized price was N50, then he should either shell out the cash or go F**K himself now that the subsidy has been removed and price is at N87. -Lord 38 Likes 6 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by holluwai(m): 11:10pm On Jan 24, 2016 |
Hmmm is this good news? |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by yuskel(m): 11:11pm On Jan 24, 2016 |
It's a welcome development, all this subsidy must go, We are too fraudulent to manage any subsidize initiative from the government. 7 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Tolux17: 11:13pm On Jan 24, 2016 |
Add 33Naira to the price Kerosene and remove 50kobo from PMS... This is real CHANGE. Lol.. 10 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by grandstar(m): 11:13pm On Jan 24, 2016 |
The price here is based on 197 to $1. If the currency is devalued to its true rate of between 230-250, the so called margins to the government will disappear The governmemt will have no choice but to resume subsidising. Its best to fully deregulate the price as it has done in non-NNPC depots. It should fully deregulate the price for petrol 5 Likes 2 Shares |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by engrlarex(m): 11:14pm On Jan 24, 2016 |
this is bad good news to me. 1 Like |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by passionate88: 11:20pm On Jan 24, 2016 |
apc promises are like China phones, they don't last long 8 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by passionate88: 11:21pm On Jan 24, 2016 |
Short changed. He hasn't even stabilised world oil price. Lagosians, I dey wait for una to protest o. Shey when Jonathan remove fuel subsidy una protest?, when him change unilag to maulag una protest?, when buhari promised to take fuel prices to 50 naira, una mumu believe the guy?. Now the change wey him mean don clear for una eyes ba?, make me wait for those idiots wey go come here dey say "it's just a matter of time e go better", "na the past administration fault", " I trust baba sha", etc. Buncha useless and jobless fellows. 23 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Rexnegro(m): 11:22pm On Jan 24, 2016 |
nice move cos The fraud attached to the so called subsidy is just too much.... 1 Like |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by chubbygal(f): 11:22pm On Jan 24, 2016 |
agonizing Nigeria. 21 Likes 3 Shares
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Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Khan1993: 11:23pm On Jan 24, 2016 |
So there was subsidy on it before and i buy it for #120 here. In fact it has no standard price. So with the subsidy removed. Smh. I fear the worse. Abeg make una no remove firewood own so that we get to fall back on something. 2 Likes |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by passionate88: 11:25pm On Jan 24, 2016 |
Khan1993:the old man go soon remove am on. 1 Like |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Dindondin(m): 11:26pm On Jan 24, 2016 |
kkkk |
Re: FG Ends Kerosene Subsidy, To Sell For N83 Per Litre by Sholah96(m): 11:30pm On Jan 24, 2016 |
Na hot plate sure pass 1 Like |
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