Quickly parry it to the marketers from the incompetent Petroleum minister, Bubu.

all of them are working together why not tell the people that on so so day the price will add dey know whot thay sre doing

It will be foolish of you to think you and other members of your family are part of the remaining 2.72% that are not dumb and low value.

Your stupidity starts from your home. Dumb fellow.

ABBkelvin:
97.28% of Nigerians are dumb and low value individuals.

Officialgarri:
That's capitalism .

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

The evil under this regime has trippled that of the previous regime you are talking about biko!

Islie:
…sell old stocks at new price



NEW TELEGRAPH

The federal government should heed to Atiku's advise n sell the refineries now before they become a monumental waste like NITEL, Dangote refinery is about rolling out BUA group are about starting theirs in Akwaibom this is the best time for the government to swallow her pride and accept the advise of Atiku,after that then the government can go into agreement with the refinery owners on how much crude would be sold to them to refine to be sold in the local market at an agreed price, this arrangement would work well for everyone.

Buhari and Co. said they are now removing subsidy and deregulating fuel prices so that 'market forces' can determine prices. I laughed when I heard it few days ago on Channel's TV.

Well, I've got news for you Nigerians, the fuel business is like illicit drug business, when a cabal leaves and other cabal takes over. A new cabal has taken over the pricing modality of fuel for you, they'll determine the prices of fuel the basic lifeline of every Nigerian and will make stupendous gains from it, to your detriment that is.

That cabal is the Independent Petroleum marketers association of Nigeria (IPMAN) and other affialiate bodies. They'll sit in their cozy offices and raise prices to whichever height they want while you cry helplessly.

Buhari has left you all to your fate in the hands of a very greedy bunch of crooks. Sit tight, the bumpy ride is still very far.

kikero:


Well, a large chunk of that profit will end up in salaries, new facilities, taxes and maintenance costs

Probably less than one third will enter Mr and Ms Owners pockets

are you telling me this as a Nigerian or probably you are telling a Mexican? You are deceiving yourself... No typical Nigerian businessmen or businesswomen throw their profit away the way you described it.. Example is landlords.. With all the rent money they collect how many carry out repairs on the building... Don't talk as if people were not born in this country

[quote author=Officialgarri post=93599518]That's capitalism . 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 [/quote

If you compare what you classified as "evil" in GEJ's government with what is presently going on this current administration, will you in all honesty think the past administration was truly "evil" you you termed it?

If you compare what you classified as "evil" in GEJ's government with what is presently going on this current administration, will you in all honesty think the past administration was truly "evil" you you termed it?

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

is either you are into this business or some close to you is into it... It seems government agencies have been a great obstacle to your profiteering

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 [/quote]



Orò jatijati

The quest for more is a life long struggle
.

The more you grab,the more you look forore.
Vanity of vanity.
All is vanity

ABBkelvin:
97.28% of Nigerians are dumb and low value individuals.

Especially your father and mother!

Wicked country

Ezmans:
the Afonja pastor that lead them to ojota park against subsidy removal under gej is now quiet, one of them called on city fm Lagos yesterday & beg for forgiveness by saying that it was one of his greatest mistake in his life

That one is a criminal! I wish Lagosians can stone him out of this country for good.

agbalej:
If you compare what you classified as "evil" in GEJ's government with what is presently going on this current administration, will you in all honesty think the past administration was truly "evil" you you termed it?

They would start begging for money all over Nairaland when the hardship touch them well well

Fourwinds:
is either you are into this business or some close to you is into it... It seems government agencies have been a great obstacle to your profiteering

No, I'm not in the business, nor do i know anyone personally who sells fuel or owns a filling station

LaboPolitics:
Buhari and Co. said they are now removing subsidy and deregulating fuel prices so that 'market forces' can determine prices. I laughed when I heard it few days ago on Channel's TV.

Well, I've got news for you Nigerians, the fuel business is like illicit drug business, when a cabal leaves and other cabal takes over. A new cabal has taken over the pricing modality of fuel for you, they'll determine the prices of fuel the basic lifeline of every Nigerian and will make stupendous gains from it, to your detriment that is.

That cabal is the Independent Petroleum marketers association of Nigeria (IPMAN) and other affialiate bodies. They'll sit in their cozy offices and raise prices to whichever height they want while you cry helplessly.

Buhari has left you all to your fate in the hands of a very greedy bunch of crooks. Sit tight, the bumpy ride is still very far.

The role of a businesswoman or man is to make money, not to act as a.charity for you guys

That's the harsh truth

I'm sure you would like it if you were running a business selling pencils at N150 a pencil after buying them from the wholesaler at N100 a pencil

Then government steps in and tells you to sell the pencils at 50 naira a pencil and pays you a subsidy of 30 naira a pencil

Which means you make no profit

So you either create a scarcity of pencils and sell them on the black market for 300 naira or you take your pencil business to a foreign country where they sell at 200 naira.

Or you lie to the government that you sold twice the number of pencils you actually sold so that they pay you twice the amount in subsidy claims that they were paying you, and you bribe the appropriate people to keep their mouths shut.

Of course you make losses even then and you can't pay the wholesaler and by extension the pencil manufacturers, who in turn cannot pay their workers, so the manufacturer goes out of business or makes less, and them we have to import pencils from China at 120 naira a piece and sell at 50 naira and get subsdy of 30 naira losing 49 naira per pencil

Finally government then sets up a body to import pencils at 120 from China , sell them at N30 to you so that you can sell them at 50 naira while you make a profit of 20. Naira

Meanwhile government pays the pencil importing body 90 naira per pencil sold at 30.naira

Leading to opportunities for Mr government official in the pencil importing board licence to lie about how many pencils are sold, so that he can feather his nests and others can do so too

Eventually we start spending money on sustaining the subsidy on pencils, money that could have been spent building hospitals, schools, etc, and when we run out , we start taking loans to make up the deficit caused by the subsidy monster

And meanwhile legitimate domestic pencil manufacturers go out of business because they can't compete with government pencil imports because they spend 70 naira per pencil manufactured

That's roughly how a subsidy works in Nigeria, and that's why it must be stopped.It hurts our economy more than a high price for fuel

Bloghomies:
Despite being one of the top producers of oil, yet we can't even maintain a standard pump price.

Anyway, check my signature for some lucrative business ideas

Maintaining a standard oil price is the reason why we are here today. Oil is like any commodity whose price will fluctuate for a host of reasons and to resist this fluctuation artificially will only result in long term economic injury as we have inflicted upon ourselves for decades aka subsidies.

What they go for in advanced countries is not 'maintaining a price' but 'predicting a price' which is what industry needs for solid investment decisions. That is what we need in Nigeria. We donot necessarily need cheap gas but we need to be abke to predict what the price is likely to be at any set point in any typical economic cycle.

That is absolutely a private sector thing, not goverment tinkering with demand and supply but consumers and producers/vendors agreeing on longer term contracts aka known as 'Futures'. Such that industry can decide WHEN to buy, at what price to meet their needs.

We need to bring sophistication into our economy, the fine tools of industry and commerce that make for long term planning and actionables. Right now Nigeria is living literaly from hand to mouth. That is why we suffer a lot.

In other climes the impact of rising and falling prices of commodities no matter how sharp they are are not felt instantaneously because industry will have seen these ahead through commodity markets analysis and mitigated them.

Oil maybe our oxygen but until we regard it as just another commodity and not life and death we will never be out of its control. We need to move on. Its has not served this country well.

We should liberalise the oil sector particularly the downstream and create a bourse for the free, self regulation of the industry to avoid all thse shocks and corruption besetting it.

SweetJoystick:
Not bad, they made loss too whe n it was reduced few months ago. Their luck......it doesn't mean i support the new price anyway.

What kind of statement is this? Are you speaking from a different planet or what? When the price was reduced, it took over 3 weeks for them to reflect the new price. Their mantra then was “old stock”. I was badgering the petrol stations around me daily for the new price after I read the news online. The opposite occurred every increase - I get to the station and discover a new price almost before it hits the news. No more “old stock”.

I will continue to proclaim that the problem with Nigeria is Nigerians. Our leaders aren’t picked out of a different dimension and rise to power by their solitary efforts. We are all culpable either actively or passively.

Samunosuke:


What kind of statement is this? Are you speaking from a different planet or what? When the price was reduced, it took over 3 weeks for them to reflect the new price. Their mantra then was “old stock”. I was badgering the petrol stations around me daily for the new price after I read the news online. The opposite occurred every increase - I get to the station and discover a new price almost before it hits the news. No more “old stock”.

I will continue to proclaim that the problem with Nigeria is Nigerians. Our leaders aren’t picked out of a different dimension and rise to power by their solitary efforts. We are all culpable either actively or passively.

In my neighbourhood here in Lagos, Ifako Ijaiye, it was implemented immediately.