Ok

Ok

where's are d DPRs? as long as dey operate in Nigeria dey must compile

Nigerians making things difficult for Nigerians since 1900. Expect more hikes in prices of commodities. We shall overcome.

Of course they will do what they want in a confused country.

No subsidy and price regulation the marketer can sell any amount they like
Welcome to change government
The more you look the less you see

Govt removes subsidy n asks marketers to go source for their forex wch means thr ll be more demand for d dollar n wch may likely be provided by d black market ultimately making d dollar scarce n u knw marketers r in business to make profit n all u can say is Nigerians r greedy by nature?. Now I knw u n dis Govt u r bn paid to defend r all fantastically confused n incompetent

DropShot:
Na wa o. Nigerians are just too greedy by nature.

Nasarawa state 180 naija which way

Resign! Resign!! Resign!!!
Wasn't there a plan when they came to govt??....this is a senseless govt. don't tell us about forex, get the refineries working 24 hrs on 3 shifts which means the refineries need to employ more staffs to cover two additional shifts, transfer crude to the refineries.... we need a business personality next time we look for a president. A pastor for VP?? only in religious Nigeria, an old general for president! only in corrupt Nigeria.

omoh DX story long ooo

Yes I just bought now at150/ltr

We dont need subsidy pls. Minimum wage should be increased. Roads, trains and other facilities should be fixed. We need a national airline carrier that will be very cheap and competitive. Then nnpc filling stations should give independent marketers a run for their money. Open more nnpc filling stations and sell fuel at a far cheaper rate. Do all these and withing 6months Nigerians will praise this govt!

Who cares here in india....if petrol is 1k/litre.....


All travelling is by trains.......

Presently it is 60 rupee, equivalent to 280 Naira.....


We are paying the price for not developing our railway system

dinggle:
Resign! Resign!! Resign!!!
Wasn't there a plan when they came to govt??....this is a senseless govt. don't tell us about forex, get the refineries working 24 hrs on 3 shifts which means the refineries need to employ more staffs to cover two additional shifts, transfer crude to the refineries.... we need a business personality next time we look for a president. A pastor for VP?? only in religious Nigeria, an old general for president! only in corrupt Nigeria.

Where is the money to fix the refineries?? The only way to run refinery efficiently is to privatise it. Govt cannot keep meddling and expect efficiency. And privatisation takes time. In the mean time, subsidy must go!

It's just the beginning. It will soar higher before the end of the year yet Zombies will be Zombies.

Can't this FG use recovered loots to build refineries

UNDERSTANDING THE ARGUMENT OVER THE SO- CALLED REMOVAL OF FUEL SUBSIDY
.........Barr. Emeka Ugwuonye (C. E. O. ECULAW GROUP)
Charles Novia wrote ; I just had a conversation with a top management ex-staff of NNPC. And he was honest with me. I actually just left his house.
I wanted to find out more about this so-called fuel subsidy removal and I asked him a lot of questions.
'So many marketers, including the NNPC itself, had millions and millions of litres in stock before this increase and they bought it at the old rate.
What has happened since two days is that some people who had stock bought at the old rate have 'hammered'.
It's free money for a lot of people if you work the mathematics'
He said. I worked the maths myself silently and shook my head.
So much for the lies about not creating overnight billionaires fed to the gullible public.
I asked him another question.
'Is this deregulation or price liberalisation?'
He answered. 'It's liberalisation.
Because the PPRA still has a ceiling placed on the price of what should be sold.
If it was deregulation, government or the NNPC or PPRA would not be bothered about fixing prices'
'So, in another way of speaking, you mean to say there is still some subsidy somewhere?' I asked

' There is some sort of subsidy which would only be borne by the products sold at NNPC fuel stations. But no one would tell you that now that we all are singing 'subsidy removal' 'He said.

I asked him the crunch question.

' The global price of crude is about $40.' I said.
'What if tomorrow the price of a barrel goes up to $100. How much would out fuel sell at the downstream per litre? Won't it be as high as N300 per litre now that the government says it has no hand in subsidy?'
He promptly replied. ' Yes.The more the oil price per barrel rises in the international market, the more the country would pay for fuel per litre at the stations.
Maybe as high as N400 per litre if things remain as they are at present'
'Damn! So, if that happens what would the government do?
The country would crumble and riot if we are forced to pay that high!' I screamed.
He smiled. ' If that scenario happens, my brother, the government would be forced to bring back this same subsidy they have jettisoned partially.
And it would be double what we used to pay before.
That's why I said the government has not deregulated the downstream because it's still in control.
This is just plain liberalisation'
Still not out of the woods.

Are you ready for the revolution?

#SubsidyRemoval

WHY DO WE SUFFER FUEL SCARCITY IN NIGERIA?

1. We do not have enough refineries to satisfy our domestic need, so we depend on fuel importation

2. Fuel is bought at the international market with US dollars and importers need USD to buy and import fuel

3. There is variability up to N121 bewteen the official USD exchange rate and the parallel market rate in Nigeria.

4. The government determines the price for fuel because the CBN is the only source of US Dollars for Marketers who import fuel.

5. If marketers source for dollars themselves, they cannot sell the product at the government price because of the N121 difference.

6. When the CBN gives US dollars to importers to buy fuel and import, they opt to selling the US dollars in the parallel market since they will make more profit, say about 50 times more than buying fuel and importing.

7. Most of the few marketers and dealers who use the dollars they got from CBN to buy fuel and import, divert the fuel to neighbouring countries like Chad and Benin Republic etc because fuel costs more in these countries since their Petroleum Market is free, and they will sell at a higher price and make more gains.

8. The CBN as a result of over 60% decrease in the price of crude leading to a reduced foreign reserve cannot afford to give enough dollars to marketers and dealers to import enough quantity of fuel for domestic consumption in the midst of all the leakages

9. These factors combined with a few others always lead to a shortage in the quantity of fuel that will satisfy Nigerian domestic consumption.

WHAT HAS THE MINISTRY OF PETROLEUM DONE?

1. Stopped the CBN from giving USD to marketers and dealers and gave them freedom to source for foreign exchange in the parallel market

2. Allowed the pump price of fuel to reflect the international price of fuel using the foreign exchange at the parallel market

3. Given all marketers and dealers the right to buy and import fuel while sourcing for foreign exchange from the parallel market

WHAT WILL BE THE IMPACT OF THIS?

1. Marketers and dealers can no longer collect dollars from CBN and sell at the parallel market instead of importing fuel and then causing fuel shortage

2. Marketers and dealers can no longer divert fuel to Chad, Benin and other neighbouring countries since they will not make extra profit in doing so

3. Everyone can now buy fuel and import. There are no more cabals in the Petroleum industry. Anyone can join and do business.

4. More fuel will be brought to Nigeria and there will be competition among marketers that fuel stations will be begging and giving incentives to customers to buy their fuel

5. Competition will drive down the price of fuel as seen in the case of diesel.

6. Government will use its
resources and time to develop infrastructure.

This is the choice we have to make now that we have a Government that we can entrust our resources to and go to sleep.

President Muhammadu Buhari has shown a high level of uprightness, prudence, determination to kill corruption and develop Nigeria.

Let us support him...

***PLEASE SHARE***

blueto:


I thought the Govt signed a deal with China on Yuan to help “ease the pressure on dollar”?

This Govt is just scamming the hell out of Zombies.

So u expect an automatic result?

this is when dpr should start working arresting any manager of fuel stations selling above 145 And giving out their fuel to masses for free. some nigerians re just naturally wicked And greedy making govt looks as if they don't mean well at times.

TonyeBarcanista:
A government removed subsidy without providing palliative and expect us to get used to the suffering.

I guess you are more concerned now because things are getting worse on daily basis.
When we cried out about imposing an 80 year old uneducated-military-minded-cattle rearer on us, people thought he was tough,disciplined and has integrity.
Do we require tough people to make our economy good?
How tough is Angela Merkel and James Cameron?

How good is Russia and Iran with tough Presidents?

This is the age of technology and anyone who ignore that fact ends up 30 years back.

Some of you dont jux know the forces of demand and supply, so if I buy from the deport at the price of #145 I will sell #145 too? Lol, so am doing charity organization blc its pms we are talking abt, wat of oda food items so if u buy tomatoes #5 frm the market u will also sell #5 , pls be honest.

BarryX:
The insensitivity of the government is showing signs of being the worst in Nigerian history.

How else will one explain the Subsidy removal without corresponding policies to mitigate the already harsh conditions.

It sucks being a Nigerian currently

Spot on mate. It's simple logic.

Rose2014:

You're right actually. I'm wrong MY APOLOGIES SIR

See your life? Keep apologising!

Only god knows when you wailers will finally develop some common sense!

I Bought N170 In Calabar Yesterday At A Certain UddyKing Along Atu Street. N1000 Gave Me Just 5.8L For A 70L Volkswagen. I Bought For N1000 Because They're Yet To Remove Subsidy On Salaries.

otokx:


NNPC depots do not have issues of selling petrol at a high rate. Its the private depots, of which Capital, Oil and Gas owned by Ifeanyi Ubah is the largest.

There are not enough NNPC mega stations, more than half of the existing ones are always not selling. Unscrupulous elements inside NNPC prefer to sell the product NNPC imported to independent marketers with huge turnover, the idependent stations add their profits, albeit very amorally and sell to Nigerians.

WHAT I KNOW POLITICIANS ARE THE SAME.IF PDP WIN 2019 ELECTION, THEY WOULD INCREASE FUEL PRICE NO DOUBT ABOUT THAT

Op David Cameron the wat do u expect from a ;> ;>;>;>ally :>:>:>:>rupt country

Bought #160 yesterday in Sokoto. I almost cried mehn...

Y r u blamin marketers. Ddnt ur govt hands off importation of products as well as supply of forex or u tink d marketers r in biz for charitable purposes? Abeg carry ur smelly clueleSsness go meet d fantastically clueless govt u r defending. Even d money bn paid 2 u as a zombie no go reach now. So start protesting for a pay rise

otokx:
So you can see how wicked some Nigerians (Marketers/Depot operators) are then they will blame Buhari and APC.