Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers - Politics (7) - Nairaland
Nairaland Forum / Nairaland / General / Politics / Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers (30501 Views)
Port Harcourt Refinery: Marketers Eye ₦500/litre Petrol, Set To Load / Fuel Price May Fall As Petrol Vessels Berth At Port / 12.5kg Cooking Gas Price May Hit ₦18,000 In December (2) (3) (4)
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| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 6:20pm On Jun 15, 2022 |
Cognitivereason: They do know economics. The problem is this...removing subsidies means prices will go up...for everything...not just petrol. Food, goods, and other servicies...since we depend so much on petrol.... That even includes things like photocopying documents. Most photocopier people depend on petrol generators. Remove subsidy, and the prices of photocoyping rise It would hurt a lot before we see the benefits. (It took some 5-6 years after GSM was introduced before we saw SIM cards go below N1000 per card., and cheap rates for calling ). Personally, I don't like making the argument for subsidy removal. I effing hate it. I personally wish we had a way to subsidsie fuel to something like N50 for most people, N10 for the really poor. But it is going to cost money...that's the painful part. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by grandstar(m): 6:22pm On Jun 15, 2022 |
Buhari is simply to blame. He has had two great chances to end petrol subsidies and deegulate the price but refused to grab them with both hands. At a time of sky high oil prices, the country is bleeding ink because of the presidents folly. Many of Buhari supporters have always argued that PDP governments stellar performance was simply down to high price of crude oil during their administration's. Now that the price of oil is high, why has APC, or better still, Buhari not achieved some dramatic results? The governments account are so tattered now that government is borrowing money from the CBN directly. One would expect it to be overflowing with cash. It isn't 1 Like 1 Share |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by okoroemeka(m): 6:24pm On Jun 15, 2022 |
Maxymilliano:this news is frightful and bone chilling,I must go and repair my scooter because trying times is up ahead |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Cognitivereason: 6:24pm On Jun 15, 2022 |
subsidywise18: would u blaim buhari as u suggested he failed... leave grammar..the end point is to remove subsidies.. would u still say buhari did a good job if removed subsidies and allow marketers make profit..bearing in mind the repercussions? .. because what ever step any leader takes...if subsidy remains it will yield no eternal positive result.. atleast the port harcourt refinery is under complete rehabilitation...the question is what did previous years government do while this refineries were dead |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 6:24pm On Jun 15, 2022 |
RepoMan007: I am. You don't like my ideas Smuggling can be stopped but the leaders are relaxed because it is easier to trust cheap lies from customs service chief and sign a cheque for subsidy. If protests can be infiltrated, smuggling too can be infiltrated. Most smugglers are ordinary Nigerians who carry fuel in jerrycans and sell. Not big time marketers. If you want to stop it, then you need to spend far more than the miniscule amount we spend for customs and excise and the police. (We spend one tenth of what the NYPD uses to police New York city on policing 210 million nigerians. And we spend less on customs and excise. And you expect that an average customs man won't get tempted to be bribed by a smuggler. Also, most smuggliers are ordinary Nigerians. They need to survive...... Note...I am not supporting smuggling. I am being realistic. Either we spend trillions of naira more on border security, and internal security, money we don;t have...or we remove subsidy. We can achieve 30 million litres a day of petrol. That was the value 10 years ago. Our populaiton and usage has increased since then, even if you minus the smuggling bit, |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Achilles881: 6:25pm On Jun 15, 2022 |
sms4sure: What exactly do you love about Apc, what specifically has Apc done for you or Nigeria that has earned your precious love for them, you are a human and thank God you are sane, so sincerely tell us what Apc did for you that improved your life and that of your community that made you love them. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by patrickcollins: 6:26pm On Jun 15, 2022 |
Maxymilliano:This very government scattered our economy, imaging dollar at #180 in 2015 to above #600 in 2022, Buhari why were u contesting before to be president as if u have the solution, president u are now, see where u have taken us many steps backward. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Achilles881: 6:29pm On Jun 15, 2022 |
Blackfire: |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 6:29pm On Jun 15, 2022 |
Cognitivereason: Has Buhari removed subsides? No. He chickened out. In 2015, when he had a golden opportunity, and last year. Has he taken alternatives like increasing revenue from taxation (he removed Fowler because he failed in that regard, yet Fowler's replacement is no better)? No. Has he improved our revenue from non oil sources? No Has he ended subsides on power, so that the sector can make enough of a profit to pay for improvements, which would fire up our non oil sector? No. Buhari has failed. And don't blame the people. The mark of a good leader is the courage to take unpopular but good decisions. Not waffling because 'poverty'. .. because what ever step any leader takes...if subsidy remains it will yield no eternal positive result.. Indeed. atleast the port harcourt refinery is under complete rehabilitation...the question is what did previous years government do while this refineries were dead Forget previous governments...what is Buhari doing , and what has he done in seven years? Subsidy should have gone in 2015, and Buhari had no business opposing GEJ's subsidy removal in 2011. (and no, I am no GEJ fan). |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by patrickcollins: 6:31pm On Jun 15, 2022 |
My questions, why didn't this government used the money invested in doing railways into building new refineries that could have impacts in the life of citizenry, how does railway in Lagos or Kaduna have impact in the life of person in Kogi state, Buhari is really clueless. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Cognitivereason: 6:31pm On Jun 15, 2022 |
nairalanders do not have a single clue about economics.. dat is why when gas turns 1k per kg ,..they blaim APC..like dey are daft to not undertstand what a deregulated market is.. if any of them read the article..it is clear that the marketers are saying the pump price should be raised as that is the obvious solution.. wont Nigerians futher pump Buhari...we simply do not understand the concept of our problems..we are in a difficult time...all the drastic measures should have been done 2 decades ago...but leaders like OBJ,yar adua and GEJ were drunk and sleeping cuz the oil was still sweet and there was no global pandemic or war to shake the global economy... i want peter obi to be president..I want to see the juju he will use to reverse all this.. subsidywise18: |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 6:33pm On Jun 15, 2022 |
Ray02: Cost of crude would be high. See the USA. It is self sufficent in crude oil now (less than 5% of its crude is imported) and the price of crude they use for domestic use is high. Not as high as international prices, but close enough. Ya expect the same thing not to happen in Nigeria too? Or you want our crude oil lifters, assuming we refined at home...to suddenly sell crude at $20 per barrel when everyone is selling above $90 per barrel? PMS and diesel would be high. Not high as N1000 , but high enough. Buying from abroad means, we pay for the manpower (in dollars) and the transport also. So that statement of high fuel price is not logical to me. N:B: I'm not blaming Buhari entirely, but he used refinery to campaign which made him highly guilty. Well, see the USA. And the UK, and a lot of domestic refiners...prices are higher than before Ukraine war. Because crude has risen. Domestic and international. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 6:44pm On Jun 15, 2022 |
Cognitivereason: There is a starting point even 500 barrels, something is better than nothing, we are too lazy in this country that's why we import almost everything, everybody is just a consumer, even agriculture dem say no, the way out is everyone should produce what they need, your roads, electricity, water, education, houses, the government will always frustrate you... |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by ProYouLettingUK(m): 6:48pm On Jun 15, 2022 |
Blackfire: I am so sorry but where do you get your fact from. How do you know that gas and diesel are cheap in Nigeria? |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by openmine(m): 6:54pm On Jun 15, 2022 |
Cognitivereason: Accidental is relative...for me they are accidental because they obviously never realized what they were up against and were incompetent to fix them! Cognitivereason: Getting rid of subsidy is not the issue.... What is paramount is the colossal impact the removal will cause...if they had used the money they borrowed to either fix the moribund refineries or build new ones,we won't be making a debate about whether it should or should not be removed! Cognitivereason: Then fix the refineries! Is that rocket science? Industry of growth will even disappear totally when the subsidy has been removed without building local refineries! A case study is diesel that has been fully deregulated.... Its now hovering around 850-950 per litre from 250 and manufacturing firms are crying bitterly as they churn out humongous losses....please how does such hike in price translate into industrial growth? Cognitivereason: Do you know how much has been spent on power generation by the FG on gencos despite being a privatized entity? You cannot keep throwing money at problems and hope it disappears! The present system of power generation, transmission and distribution through the national grid is insensitive and a joke... The solution to the power problem is a total decentralization of the power system! Remove power from the exclusive list and put into the concurrent list....in other words,let states be empowered or give licences to companies to generate,transmit and distribute power to their own citizens.... Cognitivereason: Once again no body is disputing the financial burden of subsidy... However,what will be the impact of the removal on the citizens? What are the buffers? Is it 5k per month? Have they repaired or built any refinery? Until the refineries are repaired or built,the subsidy stays! We cannot keep suffering due to the ineptitude of a clueless administration that is bereft of ideas! They had almost 8 years to fix or even repair the refineries but kept chasing shadows and even denied the existence of subsidy! That is 'cluelessness' personified! The Saudis just finished building their 3 mega refineries which they started 4 years ago and the FG is comically waiting for dangote to finish his instead of building or repairing theirs! Chai.... Cognitivereason:Nice try @Backbencher The subsidy stays until the refineries are fixed or new ones are built! Its as simple as that! The over 3 trillion that has been wasted on the power generation, why are we yet to hit even hit a 7000MW....so subsidy is the reason why they have been unable to attain the promised 10000MW? Please hit me with another better excuse to exonerate this glorified ineptitude! Cognitivereason: By then the price of PMS will spike to 3k per litre! Who will be alive to witness that regime or even see the power to enjoy that's if its stable! Whether you like it or not power will and can never be solved from the centre through national grid! This is why we are witnessing a total black out across the national which is disgraceful! Decentralize the gencos,transcos and discos and watch power become a thing of the past! We cannot continue doing the same thing hoping to achieve a different result! Cognitivereason:You are entitled to vote for any candidate of your choice! However the message is simple! Both the ruling and main opposition parties have failed woefully and there is a need to vote them out....whether its obi or someone else,I don't care but enough of those parties that keep recycling ancestors that should be attending to their grand kids and enjoying their pension or gratuity! 1 Like |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Cognitivereason: 7:01pm On Jun 15, 2022 |
subsidywise18: we are still saying the samething... if buhari removed subsidies in any of those so called golden opportunities ..it translate to nothing as there will still be naira devaluation due to the facts that we will still importing fuel... it also means dat the cost of PMS will still be above N400 today the same way it will rise to N400 if he decides to remove the subsides tomorrow.. so what golden opportunity is dat.. the only advantage is dat there will be nothing like fuel scarcity as marketers will freely be able to import it.. but is it worth it in the eye of nigerians after 2 global economic melt downs to now buy fuel at N400 just to ensure it availablility? you should note dat removing subsidies isnt the final solutions.. there is still the forex part..if u remove the subsidies ..it doesnt change the fact dat over 30% of our reserves will be spent to import it..thereby weakening the naira value..and automatically increasing the cost to consumers...so bury any idea of a golden opportunity that buhari would have used to remove subsidies without nigeria withnessing a multi level of inflation... buhari tenure had extremely volatile oil market prices... Obj and yar adua were the two presidents who truly had the golden opportunity..they earned more foreign exhange and more revenue ..they could have simply privatilized the refineries or repaired them .once done..they fully save money from subsidies and most importantly save billion of dollars in foreign exchange...that will futher strengthen the naira and reduce inflation.. u cant end subsidies and keep importing fuel neigther can u do the opposite they have to be done together .. buhari knowing fully well dat u he cant build anything after oil prices were below $40..he just supported dangote with forex to build his own and borrowed loans to repair port harcourt refinery..which is ongoing...the next golden opportunity is when this two refineries are done and we can totally refine what we need...then we can end subidies and save forex.. we saved billions in forex can be used to offset the exchange rate ..make dollar cheaper and more available therefore cautioning inflations |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 7:04pm On Jun 15, 2022 |
WibusJaga: You know the right answer already..  1 Like |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by pat077: 7:05pm On Jun 15, 2022 |
When is dangote refinery coming onboard? That seems to be our only hope for now. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Cognitivereason: 7:16pm On Jun 15, 2022 |
patrickcollins:buhari did not have any direct influence over dollar going from #180 to #600.. CBN adjusted the rate in response to the global oil market and how much forex they receive..oil cannot fall from $90 to $35 and u expect ur exchange rate to be the same...that is how it should be be... CBN is an independent body and dey do what is necessary irrespective of what the average citizen feels. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Johel(m): 7:24pm On Jun 15, 2022 |
dre11: Wahala for who dey use diesel. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Slynation(m): 7:29pm On Jun 15, 2022 |
subsidywise18:Then you have to follow Obi closely to know how he will do it, He did it in Anambra state, the facts are there to verify... |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by DanielPop(m): 7:36pm On Jun 15, 2022 |
It is still cheap for those that voted APC. They are patriots willing to buy at any price. They must support their party/president. I envy them. I wish I voted APC, that how I will be rolling in wealth and ready to buy diesel at N10,000 per litre. Change has come! |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by SupremeSpecimen: 7:37pm On Jun 15, 2022 |
sms4sure: Your honesty is appreciated. But....... The SE have been trying to tell Nigerians this. Even before the election But they get dismissed as "you guys hate apc" No it's the incompetency that they hate. Las las everyone will still come to the same conclusion |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 7:41pm On Jun 15, 2022 |
Slynation: Obi did nothing about fuel prices when he was governor. Plus he was like Tinubu as governor. Building stuff, no actual economic development. So, back to my question.. How would Obi handle this diesel price increase? How.? You guys say he would save nigeria, so how? |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by SupremeSpecimen: 7:45pm On Jun 15, 2022 |
Dialpad: If you send anything above $3k , better pray for divine intervention You're about to go on a bank tour |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 7:45pm On Jun 15, 2022 |
Whynotthetruth: Nigeria remains the best place to do business and make huge profit In the world. Imagine having millions and some people would start thinking of migrating abroad to go and be doing Menial Dirty Jobs, Paying Tax, Facing Racism, Facing Bullying, they can't even buy a house conveniently, Most of Western Citizen are living on debts, Imagine going to slave away In a white man nation. When I can conveniently Invest here with peace of mind In my Nation and make huge Profits and be made for life and I will be accorded all the respect and honor I deserve. There can never be a place so sweet like Nigeria In the World.. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Slynation(m): 7:48pm On Jun 15, 2022 |
subsidywise18:Now lemme ask you?? Does any Governor has the solitary power to influence price of PMS or a national assets like crude Oil...?? If YES, then PMS should have been sold for #50 in PH How Obi will handle diesel Price increase should come exactly from Obi because my opinion on matters like this doesn't count, this question would be better left and asked during the presidential debate that I'm very certain a candidate like Asiwaju Bola Ahmed Tinubu will surely avoid...!! |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 7:50pm On Jun 15, 2022 |
Slynation: So basically Obi has no answer to the high diesel prices Thanks. And by the way neither does tinubu or Bubuhari. The only answer is subsidy removal. Which all of you, obi and Tinubu and buhari included don't want |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Manofsteel2013(m): 7:50pm On Jun 15, 2022 |
God is the one that own nigeria not buari. |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Cognitivereason: 7:50pm On Jun 15, 2022 |
i am not new to all u have said.. am afraid i cannot repeat my self.. this is a copied message of my replies to @subsidywise we are still saying the samething... if buhari removed subsidies in any of those so called golden opportunities ..it translate to nothing as there will still be naira devaluation due to the facts that we will still importing fuel... it also means dat the cost of PMS will still be above N400 today the same way it will rise to N400 if he decides to remove the subsides tomorrow.. so what golden opportunity is dat.. the only advantage is dat there will be nothing like fuel scarcity as marketers will freely be able to import it.. but is it worth it in the eye of nigerians after 2 global economic melt downs to now buy fuel at N400 just to ensure it availablility? you should note dat removing subsidies isnt the final solutions.. there is still the forex part..if u remove the subsidies ..it doesnt change the fact dat over 30% of our reserves will be spent to import it..thereby weakening the naira value..and automatically increasing the cost to consumers...so bury any idea of a golden opportunity that buhari would have used to remove subsidies without nigeria withnessing a multi level of inflation... buhari tenure had extremely volatile oil market prices... Obj and yar adua were the two presidents who truly had the golden opportunity..they earned more foreign exhange and more revenue ..they could have simply privatilized the refineries or repaired them .once done..they fully save money from subsidies and most importantly save billion of dollars in foreign exchange...that will futher strengthen the naira and reduce inflation.. u cant end subsidies and keep importing fuel neigther can u do the opposite they have to be done together .. buhari knowing fully well dat u he cant build anything after oil prices were below $40..he just supported dangote with forex to build his own and borrowed loans to repair port harcourt refinery..which is ongoing...the next golden opportunity is when this two refineries are done and we can totally refine what we need...then we can end subidies and save forex.. we saved billions in forex can be used to offset the exchange rate ..make dollar cheaper and more available therefore cautioning inflations i am not @backbencher lastly buhari borrowed $2.5bn to rehabilitate portharcourt refinery..that is on going... educate urself with this video.. https://www.youtube.com/watch?v=wKzp7En7PKo can u compare what the saudis make from oil to ours...where does buhari or peter obi want to see $19bn to build a sustainable refinery...that is the reason why buhari had to support modular refineries to start up and exclusively support Dangote with forex as well as stakes to start his construction in 2016....people wailed at buhari and emiefele or selling forex to dangote at official price while allowig other companies to use black market... but that was the best decision the CBN took to ensure the construction is sustained.. all still points to the right direction of providing a refinery weather it is owned by FG or not and it best the Fg dont own any refinery but support business minded people to build one....what u do not put into consideration is time.... u cant rehabilitate a 200,000bpd port harcourt refinery dat has been moribund for over 3 decades in a year..neither can u build a 600,000 bpd dangote refinery in 6 months..it is not rocket science doesnt mean u can rush the process... u also cannot expect to withness all the result of all these bold steps..it takes time..the same way it took us time to realise we made a big mistake to Choose to subsidize after over 2 decades of practicing it.. it takes time..my stand here is dat if others did this ..things would have be much better.. the final solution is to remove subsidies and immediately switch to local production ..this is the step buhari is taking but u cant rush the process of building or rehabilitating a refinery.. the oil industry has failed us..buhari is the only leader that has thought of how we can forge ahead if the crude oil becomes useless...this is why he is seriously partnering with morocco and algeria and is funding a gas pipeline from ajaokuta to kano...which will be extended to mali and algeria and connect to europe... bros look at how gas prices has sky rocketed..nigeria even has more gas dan oil if other past leaders started acting ..we would have been the ones to benefit from the Ukraine russia war...by supply gas to europe.. but no..buhari met nothing and hard to start developing the gas sector and building new pipelines to the north,,there were no refineries ..so he had to introduce modular refineries, support those who wants to build and start portharcourt refinery rehabilation which is FG biggest refinery.. 8 years is not enough to rip the dividends of all this... i wish i can talk about power...but i will pass n openmine: |
| Re: Diesel Price May Hit N1,500/litre, 75% Filling Stations Closed – Marketers by Nobody: 7:53pm On Jun 15, 2022 |
subsidywise18: Is It Most Of The Z.ombies that have nothing to eat will pay Tax abi? I don't think most of you that post like this take a walk In the STREETS and have a glimpse of what Is going on. You Just sit In guddam knows where and start dishing out your unrealistic underbridge economic suggestions.. |
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