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NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa - Politics - Nairaland

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NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Islie: 6:57am On Jul 11
• Senate moves to protect indigenous airlines, probes unfair competition


By Kingsley Jeremiah and John Akubo,


Nigerian National Petroleum Corporation (NNPC) has hinted that pump price of premium motor spirit (PMS) may be increased soon, as it described the N145 pump price as the cheapest in West Africa.

The new Group Managing Director (GMD), Mele Kyari, stated this yesterday during a visit to Senate President Ahmed Lawan at the National Assembly complex, Abuja.

Kyari spoke while making submissions on revenue generation before the leadership of the senate.

He identified cheap fuel price and smuggling as the two key factors hampering revenue generation by the agency.

“The N145 per litre fuel price regime in Nigeria runs against the N350 per litre most of the other West African countries operate, encouraging smuggling.

“It is even very difficult for us to make the product available at N145,” said he.

NNPC also said it would lobby the National Assembly to ensure speedy passage of laws relating to the oil and gas industry to enhance performance.

The corporation stated that the move would ensure the emplacement of an enabling legal framework for the growth of the oil and gas sector.

Immediate past GMD, Dr. Maikanti Baru, who was at the meeting, said a visit to the senate president was part of the programmes planned for the period of transition but was not realised due to exigencies.

Baru stressed that he considered it necessary to still visit, even after the formal handover, considering the good relations he enjoyed with Lawal.

He stated that beyond introducing his successor, the visit was meant to canvass the senate’s support for the quick passage of the Deep Offshore Amendment Bill, which could boost the government’s revenue with about $5 billion per annum.

Meanwhile, the senate has resolved to unravel the reason foreign airlines were allowed to fly multiple routes within Nigeria to mop up passengers, a practice that is alien to other climes.

To that effect, the upper legislative chamber said it would summon the permanent secretary of the Ministry of Transport, the Director General of Nigerian Civil Aviation Authority (NCAA) and Managing Director of Federal Airport Authority of Nigeria (FAAN) to explain things to the senate.

This followed a motion on Unfair Competition and Urgent Need to Protect Nigeria’s Indigenous Airlines from Extinction due to designations and multiple frequencies granted foreign airlines in Nigeria, moved by Senator Ifeanyi Ubah (YPP, Anambra South).

The senators also mandated foreign airlines to provide statistics of Nigerians in their employ, encouraging them to employ more Nigerians and to partner indigenous airlines.

They urged the federal government to give indigenous airlines the necessary support and protection to remain afloat.


https://m.guardian.ng/news/nnpc-hints-of-fuel-pump-price-rise-says-n145-cheapest-in-west-africa/

1 Like

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by juvewalex(m): 7:29am On Jul 11
Before it was increased to #145 , we were told it would eliminate subsidies and also our local refineries would start working in full force which was a white lie because billions of naira still going for subsidies and refineries are dead . Nigerians can't trust you guys again with any proposed pump price increment . If government stops paying subsidies at the expense of fuel being sold for #350, politicians will have more billions to loot at both FD and state levels, refineries will not get fixed still and etc. You extract crude oil , you export it and import the final product back to Nigeria. It's crazy I must say and should not be heard of anywhere ...

127 Likes 8 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by lomprico(m): 7:44am On Jul 11
Which other West African country produce oil like us?

Idiots

139 Likes 8 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Nbote(m): 7:50am On Jul 11
Lolzzz... Welcum to d next level ppl... We already saw d writings on d wall even though d govt and ZonBs kept denying ... D only thing dat held dem back was d elections and now we can go to hell till 2023

36 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by osemoses69: 7:55am On Jul 11
Nigeria Dan cast

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by TANTUMERGO007: 7:56am On Jul 11
grin
Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Torreoliver: 11:24am On Jul 11
How dumber can this people at the helm of affairs be? So because it's the cheapest in WA the that's the sole reason for increase of the pump price. How many WA countries produce crude oil in the first place. Clowns everywhere. Just work your way out of NG if you know what's good for you.The country is irredeemable.

49 Likes 2 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by TundeeednuT: 11:25am On Jul 11
We already know this
Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Nobody: 11:25am On Jul 11
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.

Short-run impact of fuel subsidy removal to the economy is quite complex. Price levels will increase as prices of goods and services adjust. ...Fuel subsidy removal will certainly improve government budget. Expenditure-wise, the government will have more room for various fiscal policies from subsidy removal

SAUCE

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Bambarino: 11:25am On Jul 11
But really do all these demons have conscience at all?

5 Likes 1 Share

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by JudgeOGBUNABALI(m): 11:26am On Jul 11
Serves ZOMBIEs right ... we all in it.

Next RUGA level!!

22 Likes 1 Share

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by AroOkigbo(m): 11:26am On Jul 11
Next Level? shocked
Fix power and see demand for petrol cut in half.

Nigerians will survive it for sure!

22 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by dynicks(m): 11:26am On Jul 11
Had listened to "NIGERIA; MY BELOVETH COUNTRY by the late funmi Adams FEW MINUTES AGO; honestly I shedded tears.....Both past ND present leaders are all jokers

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by 1x2x3: 11:26am On Jul 11
I agree with NNPC. N150 is cheap and we are ready to buy at N350 without complains.

The good thing is that this price is the same for those who are chanting APC, the price is same for those who think some part of the country are not politically savvy for not voting Buhari.

We will all queue under the sun and pay N350 per litre and the fuel attendant won't ask if you voted Buhari or not grin grin grin.

We are fully ready to buy at the next level price.


If you voted him and you come here to argue about the price then thunder from Burkina Faso will fire you and your generation.

God Bless Buhari and God bless APC

77 Likes 3 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by tolakush92(m): 11:26am On Jul 11
THIS A WELCOME DEVELOPMENT






FROM THE NEW GMD

4 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Bolustical: 11:26am On Jul 11
Before you type rubbish. Read that news and point out where NNPC hinted a raise in the pump price.

So if a company says Nigerian garri is the cheapest in the world, it means there will be a raise in the price

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by YoungFr(m): 11:27am On Jul 11
Next Level is here

10 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by NextPresido: 11:27am On Jul 11
Buhari during 2015 election: I don't know what fuel subsidy is. It is just a way of stealing money

Buhari after election: budgets trillions of naira for subsidy over 4 years. Also wants to increase fuel price

Pls when will EFCC arrest this man for yahoo yahoo?

16 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by TheWrita(m): 11:27am On Jul 11
Next level lol
Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by pat077: 11:27am On Jul 11
What else do they know how to do well, other than increase the pump price so their will be more money to loot. If u want to compare us with other West Africa countries, compare us in all ramifications and not just on price of fuel. Do other West Africa countries suffers from epileptic power like we do... Do they power their industries with diesel? Do their politicians earn bogus pay like u criminals do. Moreover, how many of them have crude like us.

9 Likes 2 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Toscarel: 11:27am On Jul 11
Cheap and so what, are we not an oil producing nation, looters in charge wanna loot more.
the new NNPC boss wants this to be his first move anyways what do you expect from them
yeye
next level

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by sapientia(m): 11:27am On Jul 11
.
Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by TheWrita(m): 11:28am On Jul 11
Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every eyar
I'm sure you dont use a car and you dont have a generator.

12 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by TheWordist: 11:28am On Jul 11
Why not take it to #500 per liter so that we with be the highest in Africa? Criminals!

In other news, I make nice wears at affordable rates
Check this out

3 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by tragergeorge(m): 11:28am On Jul 11
But to be sincere and realistic 9ja got the lowest in west Africa,, even cost of living here in 9ja is low compare to GH,, hotel na block,,bed sitter na 400k for local area,,plate of bangs soup 5k....even wears na luxury....

1 Like

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Tofax: 11:28am On Jul 11
This govt is the most fraudulent and conning in the history of mankind.

5 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by mkoabiola: 11:28am On Jul 11
I knew d price will b increased after d election.


Nigerians must accept thier fate with these mediocres and sycophants in power.

13 Likes

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Flyingngel(m): 11:28am On Jul 11
As if we don't knw it will come to this.
Pls stop giving us stored and do the needful afterall some people had already decided Nigeria's fate through the last balloting.
Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by jamexborn(m): 11:29am On Jul 11
Is the cheapest because our naira has no value,
Instead of working on how to improve the value of naira...you are there trying to inflict more poverty and hardship on ur citizen because you and your people all have crossed the line of average


I’m waiting on when the youths will rise against these people

10 Likes 2 Shares

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Guccified: 11:30am On Jul 11
So because it's the cheapest in west Africa , it should be increased ?

Una dey mad

1 Like

Re: NNPC Hints Of Fuel Pump Price Rise, Says N145 Cheapest In West Africa by Lightening: 11:30am On Jul 11
Islie:



• Senate moves to protect indigenous airlines, probes unfair competition





https://m.guardian.ng/news/nnpc-hints-of-fuel-pump-price-rise-says-n145-cheapest-in-west-africa/

They should also discover that our roads and healthcare are the worst in Africa and also do the needful.

7 Likes 1 Share

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