Teacher1776:
It is increasing becoming clearer that Jonathan was a more humane manager of resources than this cattle rearer from Daura. Even at 100 dollar per litre, Jonathan was able to sustain a subsidy regime which ensures that fuel was sold at 97 naira per litre, from 75 naira it formerly sold. This cut down in subsidy generated a fund called sureP.
Here is Buhari, at 45 dollar to a barrel, fuel was sold at 145 naira from the former 87 naira. There is no report of a fund saved due to subsidy removal. Instead, government is taking a billion dollars from the excess crude account in the guise of fighting terrorism.
Two things are involved here. It is either Buhari and his cohorts are massively stealing from us or he is as dumb as a dullard, having no iota of idea as to where the money is migrating to.

“Three, to look at the direction of blanket subsidy for all the importers in bridging the gap which would be like going back to a problem that had earlier been solved,”

Teacher1776:
It is increasing becoming clearer that Jonathan was a more humane manager of resources than this cattle rearer from Daura. Even at 100 dollar per litre, Jonathan was able to sustain a subsidy regime which ensures that fuel was sold at 97 naira per litre, from 75 naira it formerly sold. This cut down in subsidy generated a fund called sureP.
Here is Buhari, at 45 dollar to a barrel, fuel was sold at 145 naira from the former 87 naira. There is no report of a fund saved due to subsidy removal. Instead, government is taking a billion dollars from the excess crude account in the guise of fighting terrorism.
Two things are involved here. It is either Buhari and his cohorts are massively stealing from us or he is as dumb as a dullard, having no iota of idea as to where the money is migrating to.

LionDeLeo:
Allowing the marketers to access forex at the rate of N204 is still another name for subsidy. Just that this time around, the product will not even be available as it will be more profitable to sell the dollars at N360 without any sweat. This is one of the areas the immediate past administration actually goofed.

NNPC mega stations at N145 while the masses are at mercy of other marketers is not even a logical option. Another room for some NNPC mega stations managers to quickly make their millions.

Total deregulation, na im win am.

GavelSlam:
Complainants.

There must be a local price response to the international price of oil.

As long as we don't have local refining capacity we must react to the landing costs.

Lament all you want but reality is reality.

Teacher1776:
It is increasing becoming clearer that Jonathan was a more humane manager of resources than this cattle rearer from Daura. Even at 100 dollar per litre, Jonathan was able to sustain a subsidy regime which ensures that fuel was sold at 97 naira per litre, from 75 naira it formerly sold. This cut down in subsidy generated a fund called sureP.
Here is Buhari, at 45 dollar to a barrel, fuel was sold at 145 naira from the former 87 naira. There is no report of a fund saved due to subsidy removal. Instead, government is taking a billion dollars from the excess crude account in the guise of fighting terrorism.
Two things are involved here. It is either Buhari and his cohorts are massively stealing from us or he is as dumb as a dullard, having no iota of idea as to where the money is migrating to.

Esseite:


Do you even consider the plight of the common man when you spew words like this?

Teacher1776:
It is increasing becoming clearer that Jonathan was a more humane manager of resources than this cattle rearer from Daura. Even at 100 dollar per litre, Jonathan was able to sustain a subsidy regime which ensures that fuel was sold at 97 naira per litre, from 75 naira it formerly sold. This cut down in subsidy generated a fund called sureP.
Here is Buhari, at 45 dollar to a barrel, fuel was sold at 145 naira from the former 87 naira. There is no report of a fund saved due to subsidy removal. Instead, government is taking a billion dollars from the excess crude account in the guise of fighting terrorism.
Two things are involved here. It is either Buhari and his cohorts are massively stealing from us or he is as dumb as a dullard, having no iota of idea as to where the money is migrating to.

Teacher1776:
It is increasing becoming clearer that Jonathan was a more humane manager of resources than this cattle rearer from Daura. Even at 100 dollar per litre, Jonathan was able to sustain a subsidy regime which ensures that fuel was sold at 97 naira per litre, from 75 naira it formerly sold. This cut down in subsidy generated a fund called sureP.
Here is Buhari, at 45 dollar to a barrel, fuel was sold at 145 naira from the former 87 naira. There is no report of a fund saved due to subsidy removal. Instead, government is taking a billion dollars from the excess crude account in the guise of fighting terrorism.
Two things are involved here. It is either Buhari and his cohorts are massively stealing from us or he is as dumb as a dullard, having no iota of idea as to where the money is migrating to.

Esseite:


Do you even consider the plight of the common man when you spew words like this?

Keneking:
What happens to Dangote refinery?


"Kachikwu told the public hearing at the national assembly on Thursday that the Nigerian National Petroleum Corporation, NNPC had incurred a cumulative loss of N85.5 billion in importing petrol and selling at the current retail price of N145 per litre since October 2017."
- NNPC is not transparent

Position on options:

“One, is for the Central bank of Nigeria (CBN) to allow the marketers access forex at the rate of N204 to a dollar as against the official rate of N305 to keep the pump price of fuel per litre at N145.

- Round tripping comes to mind.
- PMB would make access to forex limited again.

“Two, to give room for modulated deregulation where NNPC would be allowed to continue selling at N145 per litre in all its mega stations across the country while the independent marketers should be allowed to sell at whatever price is profitable to them in all their outlets.

- Impossible, only full deregulation can make this happen
- NNPC would lose out
- Dangote refinery business would lose out
- Modular refinery business would not even see the light of the day.

“Three, to look at the direction of blanket subsidy for all the importers in bridging the gap which would be like going back to a problem that had earlier been solved,” he said .

- Nigerians have said no to this since 2015

He, however, stressed that the final solution to the problem was for the nation to put her refineries in good shape in a way that 80 per cent of local consumption of the product should be provided for locally.

- Not achievable within the next years until NNPC refineries are SOLD

Islie:


These guys have lost it. I am shocked at Kachikwu though. Would have thought he had more sense than this.










https://www.thecable.ng/petrol-pump-price-three-possible-solutions-considered-fg