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Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL - Politics (6) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL (17902 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 chukxie(m): 1:43am On Sep 05, 2022
Subsidy or no subsidy, my question is why aren't our refineries functioning? If our refineries were functioning we wouldn't have to export our crude elsewhere to be refined, then have it imported! Nigeria is a blessed nation with cursed leaders walahi!
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Biodun556(m): 2:08am On Sep 05, 2022
Sunnyja:
The first question is how on Earth can we be consuming close to 100million liters a day in this country? Even during Covid- 19 this figure never came down?

It's possible.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by CheapHomes1: 2:11am On Sep 05, 2022
dogmart:


I shouldn't be replying you since it seems you have forgotten the origin of the entire talk

The person asked for an explanation from the government on how price grew from 86.5 naira in 2015 to 180 naira today.

I only gave an answer to that. It's your problem if u conclude that the government is being completely Insincere.

You didn't even read the screenshot you posted because the last line said "a good government will explain this".

If the govt which isn't good hasn't explained the situation, then inflation and cost of production is the issue but simple sincerity

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by FireUpNow(m): 2:48am On Sep 05, 2022
rusher14:


Is crude oil free?

If they told you they were giving crude oil to Dangote for free, how would you react?

Believe these thieving politicians at your own peril. With all the increments everytime the money keeps getting stolen for their private use open your mind and think

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 3:02am On Sep 05, 2022
360Master:


Aunty Kassandra!

Are Nigerians happy either? Are you happy?

Obviously, you didn’t get my point. The use of Ghana in that context was ironical. But come to think of it, even if Ghana pays more than 500 per litre and are not using the fuel to power their generator sets, cos you and I know there’s 247 power in Ghana, while we power our generator sets and still pay NEPA for poor power supply.

What is the value of the Naira to the dollar today?

Omo! Wake up jor!


No such thing as a free lunch
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by FireUpNow(m): 3:03am On Sep 05, 2022
rusher14:


Is crude oil free?

If they told you they were giving crude oil to Dangote for free, how would you react?
what's my business with Dangote? I don't care whoever he is.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 4:20am On Sep 05, 2022
360Master:


Aunty Kassandra!

Are Nigerians happy either? Are you happy?

Obviously, you didn’t get my point. The use of Ghana in that context was ironical. But come to think of it, even if Ghana pays more than 500 per litre and are not using the fuel to power their generator sets, cos you and I know there’s 247 power in Ghana, while we power our generator sets and still pay NEPA for poor power supply.

What is the value of the Naira to the dollar today?

Omo! Wake up jor!


I have woken up.

1.The value of the naira is falling in part because we are spending a large part of our forex feeding subsidy needs.

2.We don't have power because Government forces power companies to set low prices for their power, below what it would cost them to stay in business. That's why many of them are going out of bizness...government price setting. Ghana des not allow that.

3.Ghana's currency and cost of living too is rising, so it isn' that utopia you think it is.

4.Because of rising subsidy costs, we are having a growing deficit in our budget, which means we have to take more loans, and more debt....which the poor suffers more.

5.Finally, subsidy means that we can't have more investment in domestic refining. If it had gone, by now we would have had more private and public refineries...since people can refine petrol for a profit.

You wake up.


Now answer my question.....if you were running a business, would you agree to government setting your price low so that the poor can be helped?

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 4:23am On Sep 05, 2022
Sunnyja:
The first question is how on Earth can we be consuming close to 100million liters a day in this country? Even during Covid- 19 this figure never came down?

First, as the article puts it...it varies between 67-100 million liters a day.

Second it is very possible. We have bad power supply, people use generators more. Our population is growing, cars are growing in numbers, and so on

Third, smuggling. Petrol is N175 here, elsewhere it is above N350. Everybody smuggles fuel...big marketers to small scale operations.

Fourth....corruption. There may be a lot of inflation and padding going on. A lot of leeches.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 5:48am On Sep 05, 2022
harizonal123:
Why can't we make our refineries work instead of importation. Saboteurs everywhere
Because you can't magically will the refineries to work. You have to invest billions of dollars to repair the moribund refinery to working condition.

Yar Adua reversed the sale of two refineries sold to Dangote by the Obj administration at the price of $750 million.
If Yar Adua hadn't done that, Dangote wouldn't have needed to build a new refinery from scratch.
He would have just repaired the ones he bought and by now he would have been refining our fuel.
Today, nobody would buy those refineries for even $250 million cos they're too old.

Yar Adua is praised as our best President since 1999 but he's not. He's a big flop that should never have happened..

He also reversed the sale of the Ajaokuta steel to an Indian company without reading the clause and now Nigeria FG is to going to pay $450 million to the company.

Same mistake he did by signing an unrealistic agreement with ASUU that's affecting us till today.

Back to the refinery.
Due to subsidy, Nigerian Government pays part of the money that we are supposed to pay for fuel for us. By doing that, fuel is cheap. But at a cost.
The money Nigeria suppose use for maintenance and servicing of the refineries are all spent on subsidy. That is what made all our 3 refineries to die off.

So if you want our refineries to work instead of us importing fuel you should be praying that the Govenrnment end fuel subsidy.

2 Likes

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 5:55am On Sep 05, 2022
abbey621:
Why subsidize in the first place? What would it cost to refine our own oil? Dem swear for una ni? How much be refinery?
How much be refinery? Why not just search Google and see how much it is.
Dangote's refinery with a capacity of 600k barrels per day is nearing almost $20 billion.
Our 2022 budget is less than $30 billion. So where will Nigeria get the money to build a new refinery from?

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by einsteine(m): 6:16am On Sep 05, 2022
Ebubu:


So in that case since forex won’t be used to import fuel, does that mean dollar may drop ? To let’s say 350 ?

Yes, there should be an appreciation of the exchange rate all other things being equal

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by dogmart(m): 8:02am On Sep 05, 2022
CheapHomes1:


You didn't even read the screenshot you posted because the last line said "a good government will explain this".

If the govt which isn't good hasn't explained the situation, then inflation and cost of production is the issue but simple sincerity

Since you cant comprehend. I give it to you.

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by dogmart(m): 8:10am On Sep 05, 2022
Perfectbeing:
Because you can't magically will the refineries to work. You have to invest billions of dollars to repair the moribund refinery to working condition.

Yar Adua reversed the sale of two refineries sold to Dangote by the Obj administration at the price of $750 million.
If Yar Adua hadn't done that, Dangote wouldn't have needed to build a new refinery from scratch.
He would have just repaired the ones he bought and by now he would have been refining our fuel.
Today, nobody would buy those refineries for even $250 million cos they're too old.

Yar Adua is praised as our best President since 1999 but he's not. He's a big flop that should never have happened..

He also reversed the sale of the Ajaokuta steel to an Indian company without reading the clause and now Nigeria FG is to going to pay $450 million to the company.

Same mistake he did by signing an unrealistic agreement with ASUU that's affecting us till today.

Back to the refinery.
Due to subsidy, Nigerian Government pays part of the money that we are supposed to pay for fuel for us. By doing that, fuel is cheap. But at a cost.
The money Nigeria suppose use for maintenance and servicing of the refineries are all spent on subsidy. That is what made all our 3 refineries to die off.

So if you want our refineries to work instead of us importing fuel you should be praying that the Govenrnment end fuel subsidy.


You have spoken well, and I just punched the like button since I agree with you on a lot you have said. However you are forgetting one part of the equation. CORRUPTION.

Removing the fuel subsidy is indeed the way to go but in the end what still happens to the monies? Will they not claim rat are them up this time around?

You see we can make excuses for lack of funds and all as being the reason why our refineries are moribund till date, but truth be told any corrupt free government with ready will would have faced the refineries (even if it meant borrowing billions to do so) a long time ago.

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by abbey621(m): 2:11pm On Sep 05, 2022
Perfectbeing:
How much be refinery? Why not just search Google and see how much it is.
Dangote's refinery with a capacity of 600k barrels per day is nearing almost $20 billion.
Our 2022 budget is less than $30 billion. So where will Nigeria get the money to build a new refinery from?

I'm sure you learned about economics/accounting in school. Are big project cost ever taken from one budget or spread out over many years? In addition, who told you government cannot partner with private companies to share the cost? Dangote refinery once completed will be one of the largest in the world, the average refinery is about 7-8 Billion dollars. Even if we have to borrow the money, surely it would make sense more than these subsidy scam we are operating? Why spend 8 billion Naira per year on subsidy, we are just postponing the eventual suffering.

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by tosintoks: 2:58pm On Sep 05, 2022
sleek214:

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

My brother don't mind the fools. No matter what good the present administration does, they'll never admit it. Instead they'll prefer to insult and curse.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 8:27pm On Sep 05, 2022
abbey621:


I'm sure you learned about economics/accounting in school. Are big project cost ever taken from one budget or spread out over many years? In addition, who told you government cannot partner with private companies to share the cost? Dangote refinery once completed will be one of the largest in the world, the average refinery is about 7-8 Billion dollars. Even if we have to borrow the money, surely it would make sense more than these subsidy scam we are operating? Why spend 8 billion Naira per year on subsidy, we are just postponing the eventual suffering.
And who told you FG isn't partnering with Dangote.
FG has a 20% stake on Dangote's Refinery.

FG won't have money for a new refinery when they still pay subsidy. They have to stop subsidy before they can see money to invest in a new refinery.

Do you know there was a time FG wanted to borrow money from IMF, but they said FG have to stop subsizing electricity from Nigerians and to increase tax before they give out the loan?
They said giving out loans to the Nigerian government is a waste because it spend too much money subsizing things for it's people while collecting little taxes.

So you see? there are many things you'll never know about running a government until you get there.

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 8:45pm On Sep 05, 2022
dogmart:


You have spoken well, and I just punched the like button since I agree with you on a lot you have said. However you are forgetting one part of the equation. CORRUPTION.

Removing the fuel subsidy is indeed the way to go but in the end what still happens to the monies? Will they not claim rat are them up this time around?

You see we can make excuses for lack of funds and all as being the reason why our refineries are moribund till date , but truth be told any corrupt free government with ready will would have faced the refineries (even of it meant borrowing billions to do so) a long time ago.
You have two options.
1. FG should keep blaming all their ineffectiveness on subsidy. When they can't build road they'll say it's cos a subsidy. When they say no money for road cos of subsidy. And till eternity they'll keep on blaming subsidy.

2. FG remove subsidy and you give them the benefit of doubt that they'll perform and hold them by the balls when they don't cos now their subsidy excuses is gone forever. Now you have the right to do the mother of all protest for the Government to give you what you want.

Which of the two options look better to you?

2 Likes

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by dogmart(m): 9:14pm On Sep 05, 2022
Perfectbeing:
You have two options.
1. FG should keep blaming all their ineffectiveness on subsidy. When they can't build road they'll say it's cos a subsidy. When they say no money for road cos of subsidy. And till eternity they'll keep on blaming subsidy.

2. FG remove subsidy and you give them the benefit of doubt that they'll perform and hold them by the balls when they don't cos now their subsidy excuses is gone forever. Now you have the right to do the mother of all protest for the Government to give you what you want.

Which of the two options look better to you?



Lol, I always love reality. Hate being spoon-fed. Having subsidy is just living a fake life. Let them remove it biko.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 9:27pm On Sep 05, 2022
dogmart:


Lol, I always love reality. Hate being spoon-fed. Having subsidy is just living a fake life. Let them remove it biko.
Good

1 Like

Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by abbey621(m): 10:09pm On Sep 05, 2022
Perfectbeing:
And who told you FG isn't partnering with Dangote.
FG has a 20% stake on Dangote's Refinery.

FG won't have money for a new refinery when they still pay subsidy. They have to stop subsidy before they can see money to invest in a new refinery.

Do you know there was a time FG wanted to borrow money from IMF, but they said FG have to stop subsizing electricity from Nigerians and to increase tax before they give out the loan?
They said giving out loans to the Nigerian government is a waste because it spend too much money subsizing things for it's people while collecting little taxes. CAP!

So you see? there are many things you'll never know about running a government until you get there.


How much has Buhari borrowed in his 7 years as president? You meant to tell me he would find a hard time borrowing money to build a refinery? The bobo that you said about IMF is nothing but pure tabloid, zero facts! The fact remains simple, if Nigerians must suffer they should at least know what they are suffering for, a 2-3% increase in tax, removal of subsidy and other crude measures can be taken if the proceeds goes towards building and maintaining a proper refinery.

Are you not tired of singing the same song year after year? Our oil our oil but we cannot build a simple refinery to enjoy that oil, it must be sent out to countries with functioning brain and then sold back to us......If shame no catch you, shame dey catch me o, giant of Africa giant of Africa, ordinary 8 billion, giant don fall yakata grin grin grin grin
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Perfectbeing(m): 4:00pm On Sep 06, 2022
abbey621:


How much has Buhari borrowed in his 7 years as president? You meant to tell me he would find a hard time borrowing money to build a refinery? The bobo that you said about IMF is nothing but pure tabloid, zero facts! The fact remains simple, if Nigerians must suffer they should at least know what they are suffering for, a 2-3% increase in tax, removal of subsidy and other crude measures can be taken if the proceeds goes towards building and maintaining a proper refinery.

Are you not tired of singing the same song year after year? Our oil our oil but we cannot build a simple refinery to enjoy that oil, it must be sent out to countries with functioning brain and then sold back to us......If shame no catch you, shame dey catch me o, giant of Africa giant of Africa, ordinary 8 billion, giant don fall yakata grin grin grin grin
You honestly don't know what's happening.
I'm gone
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by abbey621(m): 5:21pm On Sep 06, 2022
Perfectbeing:
You honestly don't know what's happening.
I'm gone

Yea I don't, it's not like I'm married to a politician's daughter and have 2 uncles currently representing their constituents......Yea I'll take your word rather than their own viewpoints....Peace grin grin grin
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Cromagnon: 8:32pm On Sep 06, 2022
Authoreety:
Ndi ala...


Wonder why natural resources in this country are terribly on the high side...

Check rice for instance
it isn't high. We are just lazy
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 11:47pm On Sep 07, 2022
So there is no plan to build refineries then
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 11:48pm On Sep 07, 2022
Cromagnon:
it isn't high. We are just lazy

A beneficiary of this racket has spoken
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by plaindealer: 11:50pm On Sep 07, 2022
N462 = Less than $1.


Still the cheapest in the world.
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Cromagnon: 1:50am On Sep 08, 2022
quentin06:


A beneficiary of this racket has spoken
if I was a beneficiary you think I will have Nairaland time?
Re: Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL by Nobody: 1:59am On Sep 08, 2022
It's your choice

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