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Nairaland Forum / Nairaland / General / Politics / Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? (28763 Views)
APC Would’ve Lost To Atiku If Osinbajo Got APC Ticket – Igbokwe Counters Sanusi / Wike Told Atiku If APC Had Picked Osinbajo He Would Have Declared For APC. / PDP May Replace Atiku If .............. (2) (3) (4)
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Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by seanblaise(m): 5:37pm On Sep 08, 2020 |
LadyExcellency:Please explain more on Petroleum products Equalization Fund |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by anonimi: 5:37pm On Sep 08, 2020 |
rexlims: A lifeless, pretentious rogue of the bloodiest type. www.nairaland.com/attachments/2615370_facebook20150226111711_jpeg0c454a4b9e79b337bde62bca91797926 www.nairaland.com/attachments/3441929_img20160227001458_jpeg3fecf627d6b5447631b348f011e59b5a 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Nobody: 5:38pm On Sep 08, 2020 |
Officialgarri: Short version - Nigeria/Dealers are closing gaps exposed by a drop in crude pricing due to global pandemic and importantly a move away from crude consumption and fossil fuels by nations that buy our sweet crude. Long version - The corruption in the Sector can no longer be sustained efficiently based on point 1 above I usually blame politicians for much of the distortion-economics we have come to rely on heavily in Nigeria example.. the over-printing currency solution by Bola Ahmed Tinubu to crash USD rates and prevent inflation so i understand your apprehension and disgust at Atiku when he poses such inane approaches but.... Pricing is affected by deregulation in many aspects other than just demand. 1: Local Availability: Is the product available locally in sufficient amounts to assuage the high-demands? are we producing and refining enough for our local consumption 2: Trade Revenue: are we exporting enough at the right price to offset point 1 above? If Nigeria has not met OPEC minimum crude export quota since the last 20years and receives only 2$ royalty on each barrel of crude extracted pays a premium to Upstream players (Crude Extraction) and still pays a much higher premium to downstream players (Awon OANDO) in FOREX she has not earned in return for crude by-products that is sold for nearly cheap (Yes Fuel price in Nigeria is very cheap compared to the rest of West Africa) who exactly is losing here? FG, Dealers/Marketers or the Masses who have to pay the difference in costs but not enjoy the benefits like Saudi/Dubai Qatar etc 3: Market Distortion: Is the FG truly transparent in the way Fuel-subsidy has been implemented with regards to historic numbers/trends in the sector? Subsidy is meant to cushion the cost to final end-users over a period of market-shocks and adjustments not indefinitely.. the primary cause is the fact that NNPC and all our 4 Refineries including over 20 years of profitable BOOMING crude sales have been squandered away into the pockets of the Billionaires that line our posh estates and cities you see today. As long as FG ignores the TRUTH IN DATA preferring to hide behind polished numbers to save face (just like the imaginary Cows, Yam, Rice surplus bandied around by PMB) we will continue to experience knee-jerk reforms that are not purpose-fit for the situation. wait till the backlash of Forex policies enacted by CBN to give us a vicious bite by Q1 of 2021.. all these complaints will pale in comparison 2 Likes 2 Shares |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by yaki84: 5:40pm On Sep 08, 2020 |
Officialgarri:Like bubu like follower. I don't know the level bubu understand micro economics. But I know that once raw material for a product goes down then the product automatically goes down in price. It is not for tat. When crude was 140$ during gej regime and he wanted deregulating the sector, the price was pegged at 145. When crude price dropped to 70$ around December 2014 the same apc accused and disturbed gej to reduce the price of fuel to reflect the current price of crude. Once again u don't know anything about micro economics just like ur mentor 2 Likes |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by anonimi: 5:42pm On Sep 08, 2020 |
LadyExcellency: The sad reality of the Fulani Republic of Naijeriya, FRN that consistently robs Peter (disuntied southerners) to pay Paul (northerners). www.nairaland.com/attachments/3937527_buharisardauna_jpegcb12decad1bd9dd31b45d009f2877b1f comos: [img]https://1.bp..com/-_spEZ7TwEzU/XRF8uDxWQJI/AAAAAAADR7I/gPwLfreuV1AGnnOpWLdknSIxhfvR5szUgCLcBGAs/s400/Fulani-Herdsmen-and-Militia-1.jpg[/img] www.nairaland.com/attachments/9998033_fbimg1565201480668_jpeg72c6e6b1dc5518048013cd5e1d504a16 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by rexlims(m): 5:43pm On Sep 08, 2020 |
kikero:which is y I say d government has not and will not fully deregulate d market. In as much that fund exists, d government in a way still controls d prices of petroleum products. 2 Likes |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by yaki84: 5:43pm On Sep 08, 2020 |
amc:Atiku asked pertinent question to those who are responsible for the price hike. What u just did is immature response..... 2 Likes |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Originakalokalo(m): 5:45pm On Sep 08, 2020 |
alphaNomega: Don't bother sir. You don't belong to the kingdom I am talking about. Those that belong understand what I posted. Thanks for your advice though. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by mamaafrik(m): 5:49pm On Sep 08, 2020 |
kikero:thanks,i appreciate. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by michoim(m): 5:50pm On Sep 08, 2020 |
But since they are importing the fuel and Naira has greatly devalued, the balance may lead to hike in price of fuel... |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Officialgarri: 5:52pm On Sep 08, 2020 |
LaEvilIMiss:These are the type of people I prefer to see engage my comment or make comments on the first page of a thread instead of people who have no idea of nothing but will be first to jump on the thread to haul insults without remembering to drop one sensible submission. I have a feeling that you are introverted 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by tchaik(m): 5:52pm On Sep 08, 2020 |
LadyExcellency: Apt. 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by 4tomandchi: 5:53pm On Sep 08, 2020 |
All politicians are the same but some are more sane than the others. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Nobody: 6:00pm On Sep 08, 2020 |
Atiku is just playing to the gallery. Is there true deregulation in Nigeria where whatever goes up does not come down. I remembered during early covid-19 era petrol price was reduced but the marketers (filling stations) refused to reduce their prices claiming the stock they bought at higher price is still available. Whether we like or not the forces controlling oil industry are more powerful than what people think. 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by hybridblood07(m): 6:01pm On Sep 08, 2020 |
The ones that went to school, what impact did they make to the economic amc: |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Taiwojon(m): 6:02pm On Sep 08, 2020 |
nice one. incoming president, God willing. repent and believe the gospel and turn away from thy sins Jesus does want the dead of a sinner. make christ your Lord He is will He is ready to accept you |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by udemzyudex(m): 6:05pm On Sep 08, 2020 |
Officialgarri: Trash 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Nobody: 6:07pm On Sep 08, 2020 |
Officialgarri: but extroverted on Nairaland |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Cyberterror: 6:11pm On Sep 08, 2020 |
Atiku is a criminal. Nobody should pay him any attention. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by PassingShot(m): 6:13pm On Sep 08, 2020 |
Lifestone:Atiku is actually an Olodo. The fuel price he compared with was subsidized then. So, the lower price did not represent the true price. Now that subsidy has been removed, even though the crude price is below the then price, the fuel price is higher simply because the subsidy element has gone. He's so dumb! 1 Like |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by RTSC: 6:14pm On Sep 08, 2020 |
Nfora:Compared to buhari that said there is nothing like subsidy. Who is the bigger disappointment? If buhari can be president for two terms, anybody can be president. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Deepthoughts: 6:14pm On Sep 08, 2020 |
Islie:The issue of fuel price is very complex but all I wish to say is that, the only solution to the issue of fuel price in Nigeria is for the government to privatize the refineries then reach an agreement with the the private refinery owners on how much crude oil will be sold to them irrespective of the international price so that they can refine n sell to the local market at a reasonable price simple. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by nextstep(m): 6:16pm On Sep 08, 2020 |
What country is Uncle living in? Nigerians use imported petrol, bought with dollars, which has jumped from #350 to #470 in one year. The dollars were obtained with crude oil, which has fallen in price. Not only that, the old price was the subsidized price (i.e. it was not true market cost). When subsidy is removed, cost of fuel should rise to its real value. I think Uncle knows all this - after all he is an astute businessman - but I suspect he just wants to rile people. I'm not a Buhari apologist, but this tweet reeks of opportunism, not genuine concern. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Keemsleek005(m): 6:18pm On Sep 08, 2020 |
[quote author=unitysheart post=93712577] You sabi. They should removed PEF if they truly wanna deregulate. [/quote First time i heared someone talk about PEF, guess u know much and the fraud in the stuff. Its another big fraud in the down stream sector. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by motherlode: 6:24pm On Sep 08, 2020 |
Officialgarri: The irony with this is that even with the said #46 that the government is paying to subsidize gas, the price is still considerable high. Or is it not this same Nigeria that we are talking about? |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by unitysheart(m): 6:24pm On Sep 08, 2020 |
[quote author=Keemsleek005 post=93715893][/quote] I am in the industry. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Nobody: 6:31pm On Sep 08, 2020 |
LadyExcellency: don't mind them. If it's to come and tell us that fuel will sell costlier by N10, in the southeast, their mouth will be strong. |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Dalby(m): 6:31pm On Sep 08, 2020 |
anonimi: It has been fully deregulated. NNPC was sole importer hoping they could cut on the sharp practices of the Nigerian business men. But they learnt the hard way that NNPC was worse... So Atiku can go and bring his own and tell us the landing cost per liter instead of asking a question for which he already has the answer with an intentional further confuse the masses... |
Re: Atiku: If We Truly Deregulated, Shouldn’t Fuel Price Drop? by Nobody: 6:33pm On Sep 08, 2020 |
LadyExcellency: Very good point. If we r to truly allow the market decide then ofc transport costs and other factors that add to the pump price at the point of sale must be recognized. This literally skipped over my head. Pppra go fight u sha. U want make them scrap their office. Ur point is something no northern will raise in a community meeting. Straight chaos. Pump price in Lagos PH and Calabar cannot be the same with Maiduguri... but as this faucet has been opened, there is no going back. And to atiku's question; yes. The subsidy essentially paid half the bill for the consumer. Even with the hike we are still about 2/5 that of our neighbors. True price is probably not something that Nigerians can automatically switch up to in a second. It will take time. Tho we can now have a real downstream sector. So yayy. Politicians are hypocrites nevertheless. Same ppl against it all this while are now for it. So it makes me question their true motives. All the same tho ya. |
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