dragonking2:
Useless people.

Diesel was N115-N120 under GEJ.

So they want us to clap for them.

.......

But crude oil price during GEJ was above $ 100. Now .........but now is just about $ 50. And yet una Refineries no dey work so na import una dey import refined products ! Abi na lie ?

Something is seriously wrong with your brain.

I wonder if I should celebrate this development especially because I think the NNPC has smuggled subsidy back into the the pricing system of AGO, they kept the pricing of PMS perpetually under subsidy scheme and gradually extending it again to their products.

NNPC should address the challenge of refineries in Nigeria: why can't we refine petroleum products for local consumption, at least, and exportation in Nigeria? This will ultimately crash the prices of all petroleum products.

deji15:

NNPC Crashes Diesel Price Nationwide by 42%

http://nnpcgroup.com/PublicRelations/NNPCinthenews/tabid/92/articleType/ArticleView/articleId/806/NNPC-Crashes-Diesel-Price-Nationwide-by-42.aspx


Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC).

It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country.

Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation.

However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

Shedding more light on this remarkable achievement, NNPC Spokesperson, Mr. Ndu Ughamadu, said some of the Corporation’s strategic interventions in this regard include improving the supply of AGO and remodeling of the product distribution to address sufficiency issues across the country.

“Since January this year, we have worked very hard with relevant stakeholders to improve distribution from refinery depots, by implementing a robust loading programme,” Ughamadu affirmed.

Also, in its quest to enhance efficient distribution of AGO, the Corporation was able to resuscitate its critical pipelines and depots in places such as Atlas Cove-Mosimi, Port-Harcourt Refinery-Aba and Kaduna Refinery-Kano. Efforts are also ongoing to revamp and commission other critical pipelines across the country.

Another key intervention that has enhanced supply and distribution of diesel, the NNPC Spokesperson noted, was the Corporation’s robust engagement with critical downstream stakeholders where salient issues were raised and duly addressed. These stakeholders include: Major Oil Marketers Association of Nigeria (MOMAN), Nigerian Association of Road Transport Owners (NARTO), Petroleum Tanker Drivers (PTD) as well as Independent Petroleum Marketers.

Furthermore, as a result of consistent positive engagement with the Central Bank of Nigeria (CBN), NNPC equally extended the expansion of Premium Motor Spirit (PMS) Foreign Exchange Intervention Scheme to accommodate Diesel and Aviation Fuel.

The general public is hereby assured that the Corporation would continue to ensure seamless supply and distribution of diesel and other petroleum products across the country to make the lives of Nigerians better.




Ndu Ughamadu

Group General Manager,

Group Public Affairs Division,

NNPC, Abuja.

18th June, 2017.

AGO used to retail @ 135-140 before then.

akthedream:
Igbo Jews won't like this news..

U 4get they are one of the major importers . What has your region done for Nigerians if I may ask?

If this happened since the end of May, June is almost out so how come it has never translated to improved commodity prices since trucks are one of the major means of transportation of these commodities?

The economics of Nigeria defies all the known laws one can think of.

You want to use ℅ to scare us...
Return it to the 150 it use to be
Then tell us the ℅ reduction afterwards

Mtchhwwwww

Iamwrath:
Badbelle Liepobs will not like this


Even if the news source attributes it to NNPC, this is PMB/PYO's doing , they reduced fraud in NNPC and made sure allocations are paid on time


UPNEXT


Petrol , that's when bad belles will hug live wire

Fooooooooool. Must you react to every post with tribalism?

Pls how much was diesel when pmb took over.

akthedream:
Igbo Jews won't like this news..

afonja, do u use diesel to drive car? Or is trailer that u are driving

I think it's high time Mr Seun and his mods started indiscriminate and harsh enforcement of rule number 2 of nairaland please... It is unfortunate that your blog is being used to fan hate across religious and ethnic divide amongst our youths.

Some even forget the topic and start attacking other tribe(s)

Please do something...

cc:

Seun Osewa

Kachukwu is working. God bless PMB

checkengine:
If this happened since the end of May, June is almost out so how come it has never translated to improved commodity prices since trucks are one of the major means of transportation of these commodities?

The economics of Nigeria defies all the known laws one can think of.

Smiles... Your second paragraph got me laughing cos u just hit the right nail. Just this morning I was wondering why NEPA has defied ALL regimes. Something must be very wrong!!

I weep for my country honestly. What do we really call achievements.If the NNPC drops the price of AGO set by the previous Govt,Nigerians will rejoice and celebrate them.Now if you allow it go up 300 due to your own policies and you now reverse your own pilicies to bring it down.Can we be said to have made progress as a nation.

why official memo coming out on a Sunday?

Wallade:
I wonder if I should celebrate this development especially because I think the NNPC has smuggled subsidy back into the the pricing system of AGO, they kept the pricing of PMS perpetually under subsidy scheme and gradually extending it again to their products.

NNPC should address the challenge of refineries in Nigeria: why can't we refine petroleum products for local consumption, at least, and exportation in Nigeria? This will ultimately crash the prices of all petroleum products.

The op should tell us how much diesel was when pmb took over.

okoli4ng:
I weep for my country honestly. What do we really call achievements.If the NNPC drops the price of AGO set by the previous Govt,Nigerians will rejoice and celebrate them.Now if you allow it go up 300 due to your own policies and you now reverse your own pilicies to bring it down.Can we be said to have made progress as a nation.

Weeping is like smiling.

We wail, rent our clothes and sit on ash without food for this country.

A government took the price of diesel from below N150 to N300 and later brought it to N180 or N175 and some folks are rejoicing.

What a shame.

dragonking2:
Useless people.

Diesel was N115-N120 under GEJ.

So they want us to clap for them.

How much was Nigeria earning under GEJ?

davodyguy:


Yes because of the exchange rate under your GEJ.

He had 2.2m barrels to export per day on crude oil and each barrel was sold over $80.

Then the CBN had enough dollars to sell to banks and end users, which stabilized the naira below N200 to $1.

We import of AGO, hence is naira is weak, prices of imported products would drop.

If naira appreciates to N300 to $1, expect prices to drop further.

It's a 'dollarised' system we operate

burkingx:
.......

But crude oil price during GEJ was above $ 100. Now .........but now is just about $ 50. And yet una Refineries no dey work so na import una dey import refined products ! Abi na lie ?

OAUTemitayo:
How much was Nigeria earning under GEJ?

Is the present government paying subsidy now?

The earnings saved from not paying subsidy, what was it used for?

dragonking2:





Is the present government paying subsidy now?

The earnings saved from not paying subsidy, what was it used for?

When you answer my question, you will get a response.

dragonking2:





Is the present government paying subsidy now?

The earnings saved from not paying subsidy, what was it used for?

Chai. See primary school question.

N power is being funded by what?

More so, subsidy under GEj was fraudulent.

Nice one they should slash the price for fuel too by 50%!

davodyguy:


Yes because of the exchange rate under your GEJ.

He had 2.2m barrels to export per day on crude oil and each barrel was sold over $80.

Then the CBN had enough dollars to sell to banks and end users, which stabilized the naira below N200 to $1.

We import of AGO, hence is naira is weak, prices of imported products would drop.

If naira appreciates to N300 to $1, expect prices to drop further.

It's a 'dollarised' system we operate

Mr excuse,why haven't they built refineries even after removing fuel subsidies to avoid the exchange rate issue.You see people like u are just the problem of this country.Just keep making excuses

Oxenomy:
which this week? Did you try to buy gas this week to know that it's 3,200 per 12.5kg?

As at yesterday which is Sunday, bought mine for 3,400 in lagos.

Iamwrath:
Badbelle Liepobs will not like this


Even if the news source attributes it to NNPC, this is PMB/PYO's doing , they reduced fraud in NNPC and made sure allocations are paid on time


UPNEXT


Petrol , that's when bad belles will hug live wire

nairaland a breeding ground for rabid bigots, ppl engaging in so much tomfoolery jus for likes nd shares that doesn't translate anything positive to their lives.
u cant evn recommend nairaland again to a foreigner

davodyguy:


Chai. See primary school question.

N power is being funded by what?

More so, subsidy under GEj was fraudulent.

So you are telling us n power is funded by the subsidy money?
The subsidy under this regime is the most fraudulent as we don't even know if there is subsidy or not.

You are a clown. Abi shift.

dragonking2:


So you are telling us n power is funded by the subsidy money?
The subsidy under this regime is the most fraudulent as we don't even know if there is subsidy or not.

You are a clown. Abi shift.

I asked you a question. Can't you answer?

mcgaius:


Mr excuse,why haven't they built refineries even after removing fuel subsidies to avoid the exchange rate issue.You see people like u are just the problem of this country.Just keep making excuses

If GEJ that made billions from oil revenue couldn't, how will Buhari making less than 50% of what Gej made build refineries?

Simple question

Oxenomy:
which this week? Did you try to buy gas this week to know that it's 3,200 per 12.5kg?

Two days ago. Between where do u reside? If u go to Apapa Lagos, u will get it @ that price.

Bonjoro:


As at yesterday which is Sunday, bought mine for 3,400 in lagos.

Thanks for letting him know brother.

CHIJIOKE1314:
1,2,3 & the 4th comments are evidence of zombiesm..

Stuff we bought at less than N110 is now sold at N185 and you sang praises and the zombies with empty stomach whom their grand father has never has a bycicle spoke talk less of diesel truck engines are here already to shout DIE BABA!

I won't bother to explain further..

SAVAGE!!!