PoliticalWitch:


1.I agree with you and gave you a like.

2.However, the reason for smuggling is simple. Petrol costs N145 here in Nigeria. In Niger and Benin it's N300 and above.per liter.

If you are a businessman, you would smuggle and make a good profit.

Also, subsidy on petrol amounts to 'price control'....which means , in essence, that Nigeria is finding it difficult to attract investors who would have helped us build more refineries...and by extension provide jobs (Subsidy is also preventing NNPC from making a profit...which is why they do all sorts of 'creative accounting' there to stay afloat.).

Removing subsidy means that marketers would be allowed to set their price. Yes, we would buy fuel at N300 AND above (which is how much they buy it in many West African countries).....but more investment would flow into refinereis among other things....and we would use the subsidy savings for other things . Like free education for the poor for example. Better railways.

Because APC does not want to lose votes...we keep subsidy, and at the end of the day, we end up with more and more smuggling.And we cannot keep the borders closed for ever. We are part of ECOWAS.

If External/Government policies don't favour you, then leave the business and not go illegal. No excuse for such.

Bolustical:
Most filling stations in the borderline Sokoto, Katsina, and Kebbi will die natural deaths if this border closure is sustained for a long time.

These numbers off filling stations should scare we Nigerians as they are far too much than the demands of these states.

They are mostly used for smuggling to other countries and nothing more.

It's either DPR is just waking to its responsibilities or the Ogas need monies and they need to be settled.

Most Filling stations in the north don't sell directly to vehicles. They sell to black markets and smuggle. Good one which must be sustained. I don't support opening of the border for now

Bluffly:

If External/Government policies don't favour you, then leave the business and not go illegal. No excuse for such.

How subsidies hurt the poor

Fuel subsidies both help and hurt consumers. The trouble is that poor consumers get a disproportionately small portion of the help and a disproportionately larger share of the hurt.

The help comes because subsidies make fuels more affordable. That not only reduces direct costs for cooking and lighting, but also indirectly holds other prices down, for example, by reducing transportation costs for food. For individual families, the price reductions can be most welcome. For example, a study by Arze del Granado and others, cited by the IMF study, found that an increase of $.25 per liter in the price of fuel would reduce the real purchasing power of a poor household by more than 5 percent.

Related article: GDP Growth must Slow as Oil Limits are Reached

Still, in the aggregate, poor households account for only a small part of total fuel use. As a result, on average, consumers in the richest 20 percent of the population get six times as much total benefit from fuel subsidies as do those in the poorest 20 percent. The specific amount varies by fuel. For example, vehicle ownership is low among poor households in poor countries, so they get little direct benefit from a reduction in gasoline prices. On the other hand, since poor households are less likely to be connected to the electric grid, they account for a larger share of kerosene consumption and get more benefit from subsidies of that fuel. The following chart from the IMF study provides estimates of the distribution of subsidy benefits for four important fuels.

Distribution of Subsidy Benefits by Income

The harm to the poor arises from the way that fuel subsidies drain government budgets of funds that could benefit the poor in a more targeted way. In Indonesia and Saudi Arabia, fuel subsidies amount to some 14 percent of the government budget. For Yemen, the figure is 20 percent, and for Egypt, it is an alarming 30 percent. The same funds now squandered on fuel subsidies could be used to bolster pubic spending on education, health, or other programs more efficiently targeted at the poor. Freeing up public funds for such needs should be one of the major objectives of energy price reform.

I would add that if you were a business man selling shoes for N50000 a pair, having bought them for N40000 a pair from the wholesaler, and government came and told you to sell them at N25000 and gave you subsidy payment of N5000....you would smile and thank the government, won't you...while you lose N10000 per shoe.

(Sauce of above quote)

PoliticalWitch:


1.I agree with you and gave you a like.

2.However, the reason for smuggling is simple. Petrol costs N145 here in Nigeria. In Niger and Benin it's N300 and above.per liter.

If you are a businessman, you would smuggle and make a good profit.

Also, subsidy on petrol amounts to 'price control'....which means , in essence, that Nigeria is finding it difficult to attract investors who would have helped us build more refineries...and by extension provide jobs (Subsidy is also preventing NNPC from making a profit...which is why they do all sorts of 'creative accounting' there to stay afloat.).

Removing subsidy means that marketers would be allowed to set their price. Yes, we would buy fuel at N300 AND above (which is how much they buy it in many West African countries).....but more investment would flow into refinereis among other things....and we would use the subsidy savings for other things . Like free education for the poor for example. Better railways.

Because APC does not want to lose votes...we keep subsidy, and at the end of the day, we end up with more and more smuggling.And we cannot keep the borders closed for ever. We are part of ECOWAS.

nonsense...Dangote has almost completed his refinery you are here giving reasons why investors are not coming... This was how USA investors advice Babangida to devalue the naira to attract investors... Where are we today after that incident

Yes O. Slowly but surely we will sanitise all dem corrupt filling stations whom connive with oil marketers to smuggle nigerian subsidized oil elsewhere for money while depriving the nigerians whom should by right be benefiting from it.

stormborn28:
nonsense...Dangote has almost completed his refinery you are here giving reasons why investors are not coming... This was how USA investors advice Babangida to devalue the naira to attract investors... Where are we today after that incident

1.Dangote's refinery was made possible by loans. Not grants, loans.

And if he sells petrol at N145 per liter from that refinery, he is going to lose money. So subsidy goes...or he ends up exporting petrol abroad.

2.If there was no subsidy, we would have had more investors than Danogte. Much more.

3.If you are a businessman selling rice at N20000 per 50kg bag, and government forced you to sell it at N5000 and gave you subsidy of N5000 per bag...would you be happy.? That's how we are treating our petrol sector, and why it isn't making a profit sufficient to build more refinereis, improve exising refienreis, and improve production. And why we have so much corruption.

4.Naira was losing value in the 1980'S and today because we ain't earning enough foreign exchange to buffer it. Simple. Oil prices were crashing in the 1980's. Devaluation in 1989 was just the icing on the cake.

Bluffly:

If External/Government policies don't favour you, then leave the business and not go illegal. No excuse for such.

You are very correct. But the guy you quoted is stating reality of Nigeria today not the ideal situation or normal behaviour.

You will at least agree that less than 15% of what happens in Nigeria is ideal. Not the politics, the corruption, the harsh economy, education, health care or anything much else is ideal.

Hmmm

PoliticalWitch:


1.Dangote's refinery was made possible by loans. Not grants, loans.

And if he sells petrol at N145 per liter from that refinery, he is going to lose money. So subsidy goes...or he ends up exporting petrol abroad.

2.If there was no subsidy, we would have had more investors than Danogte. Much more.

3.If you are a businessman selling rice at N20000 per 50kg bag, and government forced you to sell it at N5000 and gave you subsidy of N5000 per bag...would you be happy.? That's how we are treating our petrol sector, and why it isn't making a profit sufficient to build more refinereis, improve exising refienreis, and improve production. And why we have so much corruption.

4.Naira was losing value in the 1980'S and today because we ain't earning enough foreign exchange to buffer it. Simple. Oil prices were crashing in the 1980's. Devaluation in 1989 was just the icing on the cake.

then let the investors go and look for loan... If they cant then they should get out... Fuel is a long time business.. You are not expected to recover your money in five years... MTN did it..
Leaving that industry to greedy Nigerians and their external collaborators is not a welcome development

Filling station serving 7 litres at the price of 10 litres, wetin una gain?


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Olawaleyy036:
The Department of Petroleum Resources, says it has sealed 12 filling stations in Sokoto and Kebbi states for under dispensing and operating without a valid licence.

Mr Muhammad Makera, the Zonal Operations Controller of DPR in charge of Sokoto and Kebbi states, made the disclosure to the News Agency of Nigeria on Saturday in Sokoto State.

Makera said the erring stations were sealed during an unscheduled inspection by the department’s officials between Tuesday, September 17 and Thursday, September 19

He said that five filling stations were sealed for under dispensing of petroleum products while the remaining seven were sanctioned for operating without valid licence and non-adherence to required safety precautions.

According to him, the DPR officials visited no fewer than 99 filling stations in Sokoto and Kebbi staes within the period.

Makera expressed dismay that most of the stations’ managers feigned ignorance of the regulations of the Department.

He warned petroleum marketers to desist from such sharp practices, saying severe sanctions await offenders.

According to him, fuel stations ought to update their operational licences and regularize their operations promptly to avoid clampdown.

He called on consumers to report any suspicious or sharp practice noticed in any fuel station to the department for necessary action.

Makera said that the current trend of short-changing customers by filling stations was unacceptable.

According to him, the department’s surveillance team is working to ensure availability of petrol at regulated price of N145 per litre

He cautioned marketers against flouting government regulations and customers against panic buying.

Source https://www.nairafame.com/2019/09/dpr-seals-12-filling-stations-in-sokoto.html