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Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days (18966 Views)

Fuel Price Hike: Oil Marketers Rake In Over N21.8bn Daily / Fuel Crisis Looms As Private Depot Owners Raise Prices — IPMAN / Lagos, Rivers, Akwa Ibom Lead In N4.19tn Subnational Domestic Debts (2) (3) (4)

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Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:44pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:46pm On Sep 05, 2020
[s]
kikero:
mr confused human being
[/s]
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:46pm On Sep 05, 2020
kikero:


An opposition which was raised by your heroes, who left us with a problem we are now dealing with at a time when we dont have the money.

Stop backing these politicians. They will use your anger to get into power.
Which your heroes?, I am independent minded, I don’t run with the Mumu crowd. Hypocrite, we had the money then like you said that confused ogogoro man chickened out, you are blaming Tinubu & Buhari for his cowardice act, now that you claim we don’t have the money? Have money for what? Even if Nigeria had Saudi Arabia’s money it shouldn’t be paying subsidy on petroleum products, any country that pays money on petroleum products will not have money for other things.
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by 99thEnemy(m): 2:48pm On Sep 05, 2020
ABBkelvin:
97.28% of Nigerians are dumb and low value individuals.
2.82% of us the smart ones like you and I are left. lets put heads together and do something about it. grin we left should do something right. grin grin grin
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:49pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:51pm On Sep 05, 2020
favor914:
Which your heroes?, I am independent minded, I don’t run with the Mumu crowd. Hypocrite, we had the money then like you said that confused ogogoro man chickened out, you are blaming Tinubu & Buhari for his cowardice act, now that you claim we don’t have the money? Have money for what? Even if Nigeria had Saudi Arabia’s money it shouldn’t be paying subsidy on petroleum products, any country that pays money on petroleum products will not have money for other things.

You are independent minded, and then you accuse me of blaming tinubu and Buhari

You love them and you know it. Don't be ashamed...

1 Like

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Meteng: 2:52pm On Sep 05, 2020
morikee:
Nigerian Marketers for you, very greedy and heartless set of people.
Not only them bros, Nigerians generally, are greedy, vindictive, heartless, always looking for an opportunity to inflict maximum pain on their fellow countrymen
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:52pm On Sep 05, 2020
kikero:


Like I said, until your hero removes ppra and stops underrecovery ànd allows the guy who owns the filling station on my street to sell fuel at the price he wants, before we can say subsidy is gone
I know it is hard for you to give them credit for a bold & good decision? I can sell my petrol for 156, you can sell your own for 163, we will find out who the consumers will patronize, not too much talk, have a nice day.
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:53pm On Sep 05, 2020
[s]
kikero:
kikero the CONFUSED human being
[/s]
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Zeezy81: 2:54pm On Sep 05, 2020
SweetJoystick:
Not bad, they made loss too when it was reduced few months ago. Their luck......it doesn't mean i support the new price anyway.

Point of correction, they never made losses, it took the marketers over a week to revert to the new price and their arguement was that they couldn't sell with the new price since they still had old stock.

DPR what is your job?

Governance in Nigeria is lazy and expensive

1 Like

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:54pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by MajorOvakporaye(f): 2:55pm On Sep 05, 2020
favor914:
Good news more investors will come into the market now, since it has been deregulated.

SHUT UP THERE!!!
DON'T LET ME SWEAR FOR YOU!

1 Like

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:55pm On Sep 05, 2020
kikero:


You are independent minded, and then you accuse me of blaming tinubu and Buhari

You love them and you know it. Don't be ashamed...
Well if you say so, if 2 men could remove a sitting power that had vowed to rule for 70 years, I tip my hat for those Gentlemen, it says give credit were credit is due.
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:55pm On Sep 05, 2020
[s]
kikero:
kikero the CONFUSED human being
[/s]
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:57pm On Sep 05, 2020
MajorOvakporaye:


SHUT UP THERE!!!
DON'T LET ME SWEAR FOR YOU!
I hope you are looking in the mirror like MJ during your incantation so you are sure who you are cursing? Make Oghene no make your days like the pdp cankerworm days?
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:58pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 3:00pm On Sep 05, 2020
[s]
kikero:
kikero the CONFUSED human being cheesy
[/s]
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 3:03pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 3:04pm On Sep 05, 2020
[s]
kikero:
kikero the CONFUSED human being cheesy cheesy
[/s]
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 3:05pm On Sep 05, 2020
tot:
[s][/s]

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 3:06pm On Sep 05, 2020
kikero:
kikero the CONFUSED human being cheesy

1 Like

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Saig: 3:07pm On Sep 05, 2020
BeeBeeOoh:
shocked cry




The very day I'll catch that angel that sent me to Nigeria angry
Would you have preferred being born in Mozambique

2 Likes 1 Share

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by ABBkelvin(m): 3:11pm On Sep 05, 2020
99thEnemy:
2.82% of us the smart ones like you and I are left. lets put heads together and do something about it. grin we left should do something right. grin grin grin
how can you help a whole lot of them when they will use you to play and claim you're only after your own personal ambition? Project the future of our country by the end of this century and tell me if there's anything great that can come out of it... I am talking about the individuals now not the government. I am sorry to say this, we will be the first to get exterminated if dystopian society system emerge in nearest future, which will likely happen due to limited natural resources over time vs population growth. Haaaa angry angry angry sad
Note: I will assume that your 0.10 is the percentage error that could be + or - depending on people sliding in and out of the 100% wink wink
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 3:16pm On Sep 05, 2020
This government is just total chaos

Zeezy81:


Point of correction, they never made losses, it took the marketers over a week to revert to the new price and their arguement was that they couldn't sell with the new price since they still had old stock.

DPR what is your job?

Governance in Nigeria is lazy and expensive

Nigerians seem to fall into two major categories, the super-stupid ones and the super-greedy ones. I don't know which one is worse though there exists a sizeable amount of overlap.

That dude you quoted is part of the overlap, too lazy to think unless it involves immediate gratification in terms of money, food or sex.
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by ebube89(f): 3:27pm On Sep 05, 2020
Officialgarri:
That's capitalism cheesy. I won't be surprised if the price of fuel turns #200 next week

If we had listened to Sanusi on his reasons why subsidy should have been removed, we will not be here today complaining.

You know you can't really blame us. There was too much evil in that government that we began to mistake even the goods as evil in disguise



february 2012 was just 6months into GEJ's tenure bro, the was no corruption scandal or evil as at then in his govt

2 Likes 1 Share

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Agbegbaorogboye: 3:29pm On Sep 05, 2020
kikero:


Is this the long run? grin

Plus this is not removal of subsides, this is what they have been doing since the 1970s. Partial removal of subsidy to a price where the government can pay for it.

Until Government stops controlling prices, and allows marketers to set the price, this isn't the real deal.

If you like, you can refuse to believe me, as usual.

Good afternoon
Can you give a timeframe of the "long run"?

At least you can agree now with what can be likened to an experiment now that full or partial removal of subsidy does not mean the marketers are going to dedicate their profits into building refineries or beating down prices.

There's no rule book that guides how profit from a business should be expended, neither is capitalism nor free market economy a one size fits all for any economic problem. It is a realisation of that fact that led the US, the world's leading proponent of capitalism to enact the anti-trust laws in the early 1900s.

Note that these marketers, when they were given the freedom to import by themselves in times past used to source for forex backing or letters of credits from banks and end up doing round tripping and other shenanigans with the so obtained instruments. None, not even one of them at that time thought of using free dollars they were getting to build a refinery. Go and check all those building refineries presently, none owns a filling station not to mention depot
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by 99thEnemy(m): 3:32pm On Sep 05, 2020
ABBkelvin:
how can you help a whole lot of them when they will use you to play and claim you're only after your own personal ambition? Project the future of our country by the end of this century and tell me if there's anything great that can come out of it... I am talking about the individuals now not the government. I am sorry to say this, we will be the first to get exterminated if dystopian society system emerge in nearest future, which will likely happen due to limited natural resources over time vs population growth. Haaaa angry angry angry sad
Note: I will assume that your 0.10 is the percentage error that could be + or - depending on people sliding in and out of the 100% wink wink
0.10% is for the people that can summon the gods, especially one like OGUN. Lightning and thunder can solve some of our problems you know!!!?
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Agbegbaorogboye: 3:33pm On Sep 05, 2020
favor914:
Well if you say so, if 2 men could remove a sitting power that had vowed to rule for 70 years, I tip my hat for those Gentlemen, it says give credit were credit is due.
To what end. Is it power for the sake of power? Then you should tip your hat for coup plotters too.

1 Like

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Merimental(m): 3:35pm On Sep 05, 2020
BeeBeeOoh:
shocked cry



The very day I'll catch that angel that sent me to Nigeria angry
grin
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Agbegbaorogboye: 3:43pm On Sep 05, 2020
favor914:
These is not what they have been doing since the 70’s subsidy has been finally removed, Government is not paying any money for anyone anymore for petroleum products, it has worked perfectly well for diesel, pms has now been added, gas should follow suit in the nearest future.
How has it worked for diesel? Is it being locally refined? Is it cheaper than PMS now?
Gas has no subsidies. Stop advertising your ignorance.

2 Likes 2 Shares

Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by maasoap(m): 4:24pm On Sep 05, 2020
SweetJoystick:
Not bad, they made loss too when it was reduced few months ago . Their luck......it doesn't mean i support the new price anyway.

You somehow thought or believed that they sold old stock with high cost at lower new price? You're wrong

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