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Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL (17921 Views)

Subsidy: Petrol Price Will Come Down, Says NNPC / Subsidy: Petrol Hits N1,200 Per Litre In Ebonyi / FACTCHECK: One Litre Of Fuel In Nigeria To Cost N462 Without Subsidy? Unlikely (2) (3) (4)

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Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by 360Master: 5:31pm On Sep 04, 2022
Buhari Promax will buy his way to the Aso Villa with Lagos stolen treasury come 2023. That’s when the real suffering will begin…

If you’re current in Nigeria without a plan to jakpa even if na to go Ghana, you’re sitting on a keg of gun powder.

Lights my kpoli on while I watch ManU demolish Arsenal….� tongue
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:31pm On Sep 04, 2022
harizonal123:
Why can't we make our refineries work instead of importation. Saboteurs everywhere

Because the fact that we subsidise fuel means that the refineries cannot make a profit to work well.

Plus, at the risk of defending bubu...two refineries are being repaired right now.

The only way to make refineries work is to sell fuel at a profit without subsidy. We brought subsidy in 1973, and had working refinery then...now they don't work.

The fact is, if you are refining fuel at N500 per liter, and you sell the same thing at N200 per lite.r..would you have money to repair the thing? And won't sabotage happen, since whether the refineries work or not....government would pour in money.?

Go and see Venezuela. Fuel costs less than N40 per liter there...and in twenty years of N40, their 900000 barrel a day refinery has gone down to 100000 barrels a day. No profit, no working refinery

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:31pm On Sep 04, 2022
Some people are ready to Trek and also sleep in darkness for your information
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:33pm On Sep 04, 2022
360Master:
Buhari Promax will buy his way in to the Aso Villa with Lagos stolen treasury come 2023. That’s when the real suffering will begin…

If you’re current in Nigeria without a plan to jakpa even if na to go Ghana, you’re sitting on a keg of gun powder.

Lights my kpoli on while I watch ManU demolish Arsenal….� tongue

Ghana where fuel costs N500 or more per liter.?

And if you think Ghanians are happy...one Ghanaian once told me they were not enjoying. Then fuel cost N400 at that time.

At least they earn enough profit for their two refineries to work well.....
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Okarakwu: 5:33pm On Sep 04, 2022
Make the refineries to work and build new ones and stop this nonsense subsidy this subsidy that
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Biodun556(m): 5:34pm On Sep 04, 2022
kcprince:
The disposable income of Nigerians is still very low so removing it totally will be unbearable for many. They can remove it partially by increasing it to 270 to minimize subsidy payment

If subsidy is totally removed, which is the best option. That's when labour and other interest groups should come in and ensure that the trillions of naira that should have been used for subsidy is used to increase salary of workers, take care of ASUU demands and others.

In fact the fuel subsidy is dragging Nigeria backward.

The 420 naira landing cost of fuel per liter involves tax and duties payed to customs of countries where the fuels come from. So if we refine in Nigeria, it should be between 200 to 250 per liter.

Mind you, the trillions of naira we used for subsidy are paid in dollars. So we are using hundreds of billions of dollars we make from crude oil export to buy refined fuel. That's why there's dollar scarcity making the price of dollars to go up and naira comes down.

2 Likes

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by poseidon12: 5:36pm On Sep 04, 2022
sleek214:

If removed, you'll be the 1st one to shout, abuse, curse. Bunch of ungrateful ipob Obidient clowns

It is unpatriotic characters like you that brought the disaster called Buhari to power. Now Nigeria is almost completely destroyed. When the destruction is complete, Buhari will move back to his country Niger Republic which he has been developing with funds borrowed in the name of Nigeria.
Meanwhile clueless ones like you are busy hating on the patriotic ones that know what is going on.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by drlateef: 5:37pm On Sep 04, 2022
treesun:


https://www.vanguardngr.com/2022/09/without-subsidy-petrol-ll-cost-n462-ltr-says-nnpcl/




Corrupt NNPC is scaremongering the people. Let everyone import petrol without subsidy and let’s see if you are right.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by SmartPolician: 5:37pm On Sep 04, 2022
mrvitalis:

Tell me how subsidy benefits the poor Nigerians

Wait till when PMS starts selling for over #400 per litre, then you will understand how it benefits the poor.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by ArcSEMPECJ(m): 5:39pm On Sep 04, 2022
sleek214:

If removed, you'll be the 1st one to shout, abuse, curse. Bunch of ungrateful ipob Obidient clowns

What is the meaning of all these abuse and insults??....

Nawaoh , you don't even know who he is or which party he supports , just pouring your full hatred on him......
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:40pm On Sep 04, 2022
SmartPolician:


Wait till when PMS starts selling for over #400 per litre, then you will understand how it benefits the poor.

Wait till you see the resulting savings and investment that comes from removing subsidy, then you will see how it benefits the poor.

Shey you know that the reason why we are not benefiting from the high oil price is because we are spending more and more of it on subsidy costs....(and it would have been our entire budget if we were still subsidising kerosene and diesel)

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by poseidon12: 5:40pm On Sep 04, 2022
Kasssandra:
Yes, and without subsidy

1.There won't be massive smuggling of fuel across the borders

2.There won't be looting in the name of 'subsidy claims' and 'inflated figures for fuel'

3.There would be savings of at least 6 trillion naira per annum...immediately

4.There would be more investment in domestic refining...so that Dangote won't hog all the glory and money, and have competiton...apart from his pal BUA.

5.There would be free flow of high quality fuel.

6.Our forex inflows will rise, and the naira would get stronger...since we are no longer wasting money on subsidy

7.NNPC would be a proper private company, not a government dumpyard for 'federal character' candidates.

8. Our economy won't get better...but it would not be awful as it is.

Subsidy has to go. No buts. No ifs..it has to go.

Yes, we will pay nearly N500 for fuel, but we would not be wasting money anymore.

If you like, quote me to abuse me, to yell at me, to shout at me....truth is truth. If you like scream about how Nigerians will suffer...as if we are not suffering from losing trillions of naira to subsidy cabal, and from budget deficit that affects the poor more.


See why subsidy should go?

On point. A lot of Nigerians are stealing in the name of subsidy.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by ednut1(m): 5:42pm On Sep 04, 2022
In ghana it’s around that price too

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by poseidon12: 5:42pm On Sep 04, 2022
Faber:
Normally Nigeria's Presidents be say. Their predecessors dey better pass them.

Obj better pass Yar'Adua.
Yar'Adua better pass GEJ
GEJ come better pass Buhari..

So as they will remove subsidy by May next year, hardship of the new regime will just set in.

The person way curse Nigeria deserve Nobel prize.

Nobody cursed Nigeria. Nigerians are suffering because we have refused to restructure the country.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by dogmart(m): 5:43pm On Sep 04, 2022
SpecialAdviser:
The very big question to ask is " How did we increase petrol price from 86.5 naira in 2015 to as much as N180 per litre now without removing subsidy?"

A good government will first explain this.

The truth you are failing to put into consideration is that inflation is constant worldwide. The cost of production of any commodity in 2015 is at least x3 or x4 presently in today 2022. A lot of variables are at play here. And petroleum can't be exempted from this inflation.

To begin with, understand that petrol is a worldwide commodity and the government imports it. So ask yourself the question, how much is petrol sold for per litre in various countries and then go ahead to convert it to naira.

That will let u know the real price we ought to be paying for petrol.

3 Likes 2 Shares

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by CheapHomes1: 5:44pm On Sep 04, 2022
jimetagambo:
Remove it. A few protest here and there, and everybody will be alright.

All the one they have been removing since, what is it?
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:44pm On Sep 04, 2022
Sonoyom:
In 2012 GEJ removed subsidy and fuel was less than 200 naira, these idiots protested against it.

Because most Nigerians oppose subsidy removal...and that includes a lot of GEJ supporters. Only a tiny minority of Nigerians support subsidy removal.

That is why no Nigerian leader has removed subsidy totally...and what GEJ did was a partial removal.

1 Like 1 Share

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Timmi: 5:45pm On Sep 04, 2022
harizonal123:
Why can't we make our refineries work instead of importation. Saboteurs everywhere

Good and relevant question. This is the best response to this OP so far. You have a thinking faculty and I appreciate that.
For Nigeria, we (Nigerians) are our own worst enemy. The enemy sabotaging the refineries are Nigerians

2 Likes 2 Shares

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by CheapHomes1: 5:46pm On Sep 04, 2022
dogmart:


The truth are are failing to put into consideration is that inflation is constant worldwide. The cost of production of any commodity in 2015 isn't is at least x3 or x4 presently in today 2022. A lot of variables are at play here.


What has inflation and cost of production got to do with govts insincerity?
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by SmartPolician: 5:46pm On Sep 04, 2022
Kasssandra:


Wait till you see the resulting savings and investment that comes from removing subsidy, then you will see how it benefits the poor.

Shey you know that the reason why we are not benefiting from the high oil price is because we are spending more and more of it on subsidy costs....(and it would have been our entire budget if we were still subsidising kerosene and diesel)

Only a government Nigerians can trust should remove the subsidy partially. It should be implemented in stages until it's totally removed over time.... probably within 4 years.

Forget the nonsense APC tells us. We all benefit from subsidy because it makes artisans buy petrol cheaper.

In a country that cannot generate more than 4kMW of electricity, many SMEs depend on petrol gen to run their businesses.

Removing the subsidy completely means that many of them will close up shops while others will increase the fee for their products and services. This will make things even more unbearable for ordinary Nigerians.

I don't even want to talk about its impact on transportation and food prices.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Timmi: 5:47pm On Sep 04, 2022
ednut1:
In ghana it’s around that price too

In South Africa, it’s about 1,000 Naira a liter
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by dogmart(m): 5:48pm On Sep 04, 2022
CheapHomes1:


What has inflation and cost of production got to do with govts insincerity?

It is the reason why u can't expect price of petrol to still remain at 85 naira per litre since 2015.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by SpecialAdviser(m): 5:50pm On Sep 04, 2022
Edopesin:


When you get a coherent answer please mention me
No coherent answer yet comerade.
Just some blah blah blah yen yen yen
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Born2Breed(f): 5:50pm On Sep 04, 2022
If the subsidy is removed, they will still look for a way to steal that money.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Yankee101: 5:50pm On Sep 04, 2022
What of the discounted USD dangote refinery has gotten from the CBN to build?

What of the over $1bn refinery revamping contract?

Can't Nigerians ruse up and stop this nonsense?
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 5:51pm On Sep 04, 2022
SmartPolician:


Only a government Nigerians can trust should remove the subsidy partially. It should be implemented in stages until it's totally removed over time.... probably within 4 years.

Forget the nonsense APC tells us. We all benefit from subsidy because it makes artisans buy petrol cheaper.

In a country that cannot generate more than 4kMW of electricity, many SMEs depend on petrol gen to run their businesses.

Removing the subsidy completely means that many of them will close up shops while others will increase the fee for their products and services. This will make things even more unbearable for ordinary Nigerians.

Only a government trust...lol.

What you have said has been said since the 1990's...and since then we have lost 4 refineries, and billions to subsidy.

There is no government in the world that has the trust of its people...and you are looking at someone that is utterly suspicious of every government we have had since I was born.

There are also sensible economic decisions that have to be taken...and one of them is subsidy removal. Subsidy has led to a regime of corruption and looting and sabotage. And it has meant that we don;t have a working petroleum sector...that runs at a profit.

Other African countries that are broker than us, and poorer than us don't subsidise fuel..and as a result have running refineries. See Niger and Ghana for exampe.

Finally, subsidy is eating a big deficit into our budget. We have spent twice what we spent last year this year on subsidy, and it is not the end of the year YET.

Better wake up. You would not sell at a loss if you were a businessman...so why should you force that on the industry of petrol?

The poor are suffering from the debt we are incurring from the deficit budgets we have been running for decades thanks to subsidy...which forces us to take loan after loan.

Subsidy must go. Whether you or me likes it or not. Whoever is running this country.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by nedekid: 5:52pm On Sep 04, 2022
Na today?
Before this locust regime removed the last "subsidy" I said it, make fuel price 1000k, few months later they will say they are paying subsidy all over.
I say it again today, make fuel price 2k per liter, months later they will tell you they are paying subsidy.
Naija na cruise. grin
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by CheapHomes1: 5:54pm On Sep 04, 2022
dogmart:


It is the reason why u can't expect price of petrol to still remain at 85 naira per litre since 2015.

What has it got to do with govts insincerity?
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Taich(m): 5:54pm On Sep 04, 2022
All I can say is "only" please remove the subsidy but the problem is that the money saved from subsidy will be rebooted.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by lagosrd: 5:55pm On Sep 04, 2022
Bunch of theives. Shebi they said there was nothing like subsidy. If Jonathan had been allowed to removed the useless subsidy by then, fuel would have cost us #175 by now after removal. But these bunch of rougues broom carrying people made his government uneasy and now want to be the president.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by tunjijones(m): 5:57pm On Sep 04, 2022
SpecialAdviser:
The very big question to ask is " How did we increase petrol price from 86.5 naira in 2015 to as much as N180 per litre now without removing subsidy?"

A good government will first explain this.

Provided the naira is not stable, subsidy will never end.

Subsidy is the differential marketers pay cos of increase in FX.

So provided FX keep increasing, landing price of importation of petrol will keep going up.

Am sure you are wondering what the solution is... The solution is for Nigeria to refine petroleum product in Nigeria and stop importation.

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