helinues:
But FG said they will pay for the subsidy now

Useless marketers..

FG should make a policy whereby any products and services that will be increased unjustly due to the Corona virus, those people should be arrested

My friend please stop blaming marketers if it is you, will you reduce the price to short yourself because of one flimsy excuses.

The president is not serious, especially when he said the price reduction is to make Nigerians smile, as if is a bonanza.
#125 price tag is wicked especially with the current price of crude oil.

Before reduction why not meet with the marketers ever since.


Abeg the list is endless the presidency stvipid

TylerDurden:


sharap zombie.

NNPC never removed subsidy. They only made accommodations for the naira's devaluation from 197 to 360.

Buhari is still paying subsidy which they are calling ''under recovery''.

And FYI, NNPC is claiming that they are supplying 50 million litres per day.

This has seen the subsidy payment well over a trillion naira annually despite the fact that Nigerians can barely afford to fill their tanks.

The level of wicked and heartless looting and corruption going on in this govt is mind-boggling.

Only NNPC now imports fuel as most marketers can not afford to import owing to Federal govt policy on refusing them access to forex.

All marketers now buy from NNPC.

The NNPC then inflates the amount it sells to marketers and from there loot double in the form of increased subsidy payments to themselves and reconciling sale of non-existing fuel.

Please can you explain this thing well sir. I really want to understand.

cc lalasticlala

foolbuster:


Please can you explain this thing well sir. I really want to understand.

NNPC gets FOREX rebates from CBN to import fuel or in some instances swaps crude for refined petroleum products.

The marketers do not have this leverage.

This has led to the situation that only NNPC imports fuel which they supply to the marketers.

NNPC also claimed they are subsiding fuel imports to maintain the pump price of 143per liter

They call this under recovery and it is entered as an operational cost or loss in supplying fuel.

Rather than use the fall in oil price to recover from their losses, NNPC is now reducing fuel cost to continue the subsidy arrangement which stands at well over a trillion naira annually.

This is why independent marketers can not import and sell at 125 naira proposed slash.

TylerDurden:


NNPC gets FOREX rebates from CBN to import fuel or in some instances swaps crude for refined petroleum products.

The marketers do not have this leverage.

This has led to the situation that only NNPC imports fuel which they supply to the marketers.

NNPC also claimed they are subsiding fuel imports to maintain the pump price of 143per liter

They call this under recovery and it is entered as an operational cost or loss in supplying fuel.

Rather than use the fall in oil price to recover from their losses, NNPC is now reducing fuel cost to continue the subsidy arrangement which stands at well over a trillion naira annually.

This is why independent marketers can not import and sell at 125 naira proposed slash.

Thanks for this.

foolbuster:


Thanks for this.

The NNPC even said they will be incurring further losses

Despite the obvious cost implication of this immediate adjustment to the corporation , NNPC is delighted to effect this massive reduction of N 20 / litre for the benefit of all Nigerians .”

Who will bear the cost for the marketers if they choose to import directly themselves.

The NNPC just increased the subsidy regime and by the time full devaluation of the naira is carried out by the CBN, the subsidy regime will be very large as landing cost can get to as much as 250-350 per liter in a likely scenario the naira drops to between 400 -450 to a dollar.

If it is increase, they would have adjusted their meter overnight.

But you people will quickly sell at #200 assuming the government increase the price. Nigerians the enemies of Nigerians.

Nigeria a country that doesn't keep law

I bought 125, yesterday oh, don't know what you guys are saying.

bluecircle470:
You're mad

No he is not
His point is valid
Will u pay him

Ogun state still selling 145naira

Look at these selfish, greedy and self centred ingrates. Nigerians are part of our problem.

Speaking as a capitalist, the Marketers are right.
The issue is when will they agree that they have run out of the old stock.

WATCHOVER:

My friend please stop blaming marketers if it is you, will you reduce the price to short yourself because of one flimsy excuses.

The president is not serious, especially when he said the price reduction is to make Nigerians smile, as if is a bonanza.
#125 price tag is wicked especially with the current price of crude oil.

Before reduction why not meet with the marketers ever since.


Abeg the list is endless the presidency stvipid

But if it is an increase they will gladly increase it. I can't wait for oil to finish these selfish thrives will understand the suffering of the masses.

But if government increases the price..

You wont wait to finish selling the old stock before you revert to new increase in price..

Awon werey..

Anyway, I am kukuma not going to work since we are already on lockdown .

No weekly fueling of car until further notice..

Ntooh to petroleum marketers!

Nonsense people assuming it is the other was round now. it would have been implemented sharp sharp. Ndi Araaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

These people are just very wicked. if it was an upward review of the pump price, they would have adjusted their machines without excuses. Wicked souls and hopeless capitalists

I loaded my tank @ 125 today

Useless people

ursullalinda:
I bought #125 today oh... wonder where these ones are speaking from......I stay in Lagos too.

Probably bought fuel that's not complete
Try buying 5litres in a 5litre jerrycan

We can all see how callous and inhuman man inhumanity to man is, like my good brothers and sisters, mummy's and daddy's in the forum have rightly said, if it were to be an increment in the pump price, instant adjustment would have been made, it is well, GOD is watching.

Mutha fvker

Public information:
Any beautiful lady that has coronavirus, I have offered my apartment free for her to be quarantined with me.

We Nigerians are our problem. One can see reason with the marketers in relation to the lost of N20 per litre on their stock. However, if it was upward review of price, the moment it was announced, the marketers will applaud and effect it despite having stock. Nigerians are very wicked.

This News are for those who have cars and Motorcycles. Bicycles dont use petrol

Islie:


https://punchng.com/why-we-cant-sell-petrol-at-125-litre-marketers/

Indeed. They will have old stock for the next ten years. Criminals.

This is where deregulation works. You get swift response both ways simply due to competition. Goverment should not only deregulate but liberalise the petroleum industry.

In time of scarcity do you consult anybody or ask questions b4 jacking up Ur prices?

Rubbish explanation. ...if it was an upward review of price, will they be talking of old stock...sharp sharp they would have adjusted the price...why is it so hard for the black man to help his fellow even in this era of CORONAVIRUS!

But if the fuel price is increased they won't be talking of remitting excess price of their old stocks...cheats

Just imagine
We are the cause of our problem

But if the price inflated and rises up the marketers won't confirm the news before adjustung their price in the pump