Can The Price Of Petroleum Products Be Left To The Markets? - Nairaland / General - Nairaland
Nairaland Forum / Nairaland / General / Can The Price Of Petroleum Products Be Left To The Markets? (147 Views)
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| Can The Price Of Petroleum Products Be Left To The Markets? by PHijo(m): 9:39am On Mar 26, 2021 |
What the Nigerian government is doing through its agencies like NNPC and PPRA makes no sense! Like the CBN refused to release USD for toothpick, they should let companies source for their USD, open up the downstream sector to virtually everyone and stop fixing prices. NNPC can continue importing to force the price down through excess supply in the market. Such a move would increase the number of functional refineries in the country. Currently the only functional refinery is in Rivers state and it refines less than 20,000 barrels per day which is less than 5 percent of Nigeria's daily demand. You can't keep on doing things the old way and expect a different result. The FG has no business in fixing prices. |
| Re: Can The Price Of Petroleum Products Be Left To The Markets? by ThePrincipal: 9:44am On Mar 26, 2021 |
That's the ideal; but we live in a very serious country. God help us. |
| Re: Can The Price Of Petroleum Products Be Left To The Markets? by dawnomike(m): 10:01am On Mar 26, 2021 |
Nigerian marketers will become greedy... |
| Re: Can The Price Of Petroleum Products Be Left To The Markets? by PHijo(m): 10:05am On Mar 26, 2021 |
dawnomike: There is no doubt about that, a marketing firm like NNPC can make sure prices remain reasonable by competing with the others. Offering their products at lower prices. |
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