Islie:


VANGUARD

Dalby:
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...

rexlims:
and Ur Buhari is what? LIFELESS

anonimi:


How can NNPC be worse when Barawo Bubu is the minister?
Sorry but I cannot understand that.

seanblaise:

Please explain more on Petroleum products Equalization Fund

unitysheart:


I am in the industry.

LadyExcellency:


The Petroleum Equalisation fund Management Board is a scheduled Parastatal of the Ministry of Petroleum Resources ,established by Decree No. 9 of 1975 (as amended by Decree No. 32 of 1989 ), mainly to administer Uniform Prices of Petroleum products through out the country.

THE IMPLICATION OF EQUALISATION PROCESS
 
i. The consumer pays the in-built transportation cost of N2.99 per litre irrespective of where the products are purchased, whether in zone 1 or in zone 9.

ii. Transportation cost is related to distance travelled between the points of lifting the products (Depots) and the points of sale (outlets).

iii. The marketer serves as an agent of the PEF (M)B in collecting the allowance built-into the price structure, and transfers same to the board for equalisation or bridging purposes.

Islie:


VANGUARD

LadyExcellency:
There is nothing like deregulation without abolishment of Petroleum Products Equalisation Fund.

Remove Equalisation Fund and see petrol sell N150 in Rivers State and N300 in Sokoto State.

Partial deregulation is nonsense.

Northern Politicians can't remove Equalisation Funds to avoid being beheaded.



The Petroleum Equalisation fund Management Board is a scheduled Parastatal of the Ministry of Petroleum Resources ,established by Decree No. 9 of 1975 (as amended by Decree No. 32 of 1989), mainly to administer Uniform Prices of Petroleum products through out the country.

THE IMPLICATION OF EQUALISATION PROCESS

i. The consumer pays the in-built transportation cost of N2.99 per litre irrespective of where the products are purchased, whether in zone 1 or in zone 9.

ii. Transportation cost is related to distance travelled between the points of lifting the products (Depots) and the points of sale (outlets).

iii. The marketer serves as an agent of the PEF (M)B in collecting the allowance built-into the price structure, and transfers same to the board for equalisation or bridging purposes.

Officialgarri:
Atiku better sit down patiently with the person that explained the economics behind deregulation instead of rushing to social media.
These people called Politicians are just as dumb as anyone.

Fine, when Buhari first deregulated in 2016, Oil price dropped "due to competition" by 1 naira, but what happened after, it flew right up to #145.
This is because Oil is always in high demand and the higher the demand the higher the price.

Officialgarri's law states that "Any product with increasing demand and without corporate regulations will have it's market price competing mostly at increasing prices" e.g Cryptocurrencies
Hence, the introduction of subsidy. If not for regulation and subsidies, gas was initially supposed to be selling at about #179 but the Government pays about #46.

So someone tell me something interesting about deregulation

Officialgarri:
Atiku better sit down patiently with the person that explained the economics behind deregulation instead of rushing to social media.
These people called Politicians are just as dumb as anyone.

Fine, when Buhari first deregulated in 2016, Oil price dropped "due to competition" by 1 naira, but what happened after, it flew right up to #145.
This is because Oil is always in high demand and the higher the demand the higher the price.

Officialgarri's law states that "Any product with increasing demand and without corporate regulations will have it's market price competing mostly at increasing prices" e.g Cryptocurrencies
Hence, the introduction of subsidy. If not for regulation and subsidies, gas was initially supposed to be selling at about #179 but the Government pays about #46.

So someone tell me something interesting about deregulation

And you just rushed to showcase your myopic knowledge of the situation at hand. Is crude in high demand? How much is the current price? Google countries that cut or reject supplies of your country crude oil. Tell us the current price of the commodity again ??. Guy go sleep.

amc:
Atikuloot is an olodo who didn't go to school, just like some of his followers who agree with his tweet.

The answer is CURRENCY DEVALUATION.

jericco1:
Talk is cheap because even a two year old can ask such questions..
He is trying to incite hatred that already exists..
He should focus more on the current crises bedeviling his party

Gyong:


Smart point, but why not encourage local refineries termed illegal that the navy and military keep destroying. Guy why should we sell crude cheap and buy refined product cheap but exchange rate caused us to buy at an unpleasant prices

tot:


You can't incite something that already exists.

loneprof:
They all use fuel price and insecurity as political points till they become president... When they assume office, the narrative changes.

Abeg let Buhari do his own and leave and let's move forward. If it's revolution or election, we'll know by then.

Newboss:


They talk that way because they are ignorant of the state of things. Then they enter office and see how cheap talk is. This is why I dont listen to Sowore. Only dummies listen to his noise.

That's how Buhari was hitting GEJ. Now he's doing everything GEJ did, even the ones he (Buhari) stood against

Mayeldah:
Atiku is right here. If crude that sold averagely in 2012 at $95, when GEJ deregulated the pump price was N141

How come now that same crude selling averagely at $41 in 2020, when PMB deregulated, the pump price is N161?

by law of simple proportion, the pump price now should be lower.

all these youths attacking Atiku without thinking deeply about this are lazy youths.

Something is not right with this deregulation done by PMB, Nigerians should ask questions.

loneprof:


He's doing even worse... I was just having a conversation with a bro on the cost of living with the new electricity tariffs and fuel price.

May God help Nigerians ooo.

jericco1:


Obviously, so it is like pouring water in a basket because his efforts are futile

Nwaide01:
Every body knows that they are watering the ground for Dangote,when the refinery comes into operation the price will be between #200 and #300.

NGpatriot:




Tell your bro that the government can not keep subsidizing everything because it is unsustainable.

Tariff must align with the cost of generation, distribution and transmission, if not, investors won't invest in the power sector because they can not recoup their investments or make ends meet.

I blame the government for shielding Nigerians from these obvious realities for decades, but better late than never because it is unsustainable.

We are broke and we can not keep borrowing to fund subsidies and recurrent expenditures. doing so means bankruptcy.