Yooo

rusher14:
You want to fight Wike with fuel marketers.

Now we know how Atiku and some elites prompt these unions to strike.

Not sure this has anything to do with politics.

Or fuel marketers for that matter

PTD (petroleum tanker drivers union) used to go on strike regularly im lagos if lastma impounded one of their vehicles

Imo state experienced theirs a while ago... It's now Rivers turn!

A whole oil producing state!!! SMH!

Remove fuel subsidy and all this thing will end.

Not only would there be free flow of fuel, but the government will no longer be spending trillions of naira on fuel per annum

And at the end, there would be investment in the sector galore.

I know...high fuel prices. But then again, Kenya partially removed subsidy....because even the new guy knows that it is eating into their budget.

Subisdy must go. No exceptions. We cannot feed the subsidy monster anymore...it must be starved.


(P.S If you want to know why I say this read this link.)

Shame on d writer, the strike has been suspended.... Learn to write d real thing not dragging Wike.....is about der union issues (supreme court/high court stuff)

Dem don dey remove fuel subsidy small small...


From 165 to 180 to 250 to ....

maxzzo1:
Shame on d writer, the strike has been suspended.... Learn to write d real thing not dragging Wike.....is about der union issues (supreme court/high court stuff)

Strike has been suspended but stations have not started selling. Things should normalise by weekend hopefully.

rusher14:
You want to fight Wike with fuel marketers.

Now we know how Atiku and some elites prompt these unions to strike.

Atiku is doing nada, nothing, zero....

The fact is, when you subsidze fuel...you make it difficult for petrol to be sold at a profit. At some point this would affect the petrleum sector and its workers.

Like the strike recently up North by some workers...the fact is, their transport costs have gone up, due to rising prices for diesel, and as a result, they couldun't afford the cost of transporting fuel to end user...because the bridging cost was not enough, even with the price increase...and then government too was struggling to pay them. So, they went on strike.

Atiku had nothing to do with it, nor did Obi.

When you set prices for a businessman, instead of letting them set their price, you run the risk of making them run at a loss. That leads to issues and problems. So, at the end, either they close down or they go on strike and demand their rights.

Whereas if there was no subsidy, sure fuel would be N260 or N400 or more, but the marketers pay themselves, instead of government...and government saves money.

But the APC you support won't remove it, because they don't know how to run an economy...so we now have a balloning budget deficit induced by subsidy...which can't cover costs.

Csami:


You’re a f**** troll!

Kasssandra:
Remove fuel subsidy and all this thing will end.

Not only would there be free flow of fuel, but the government will no longer be spending trillions of naira on fuel per annum

And at the end, there would be investment in the sector galore.

I know...high fuel prices. But then again, Kenya partially removed subsidy....because even the new guy knows that it is eating into their budget.

Subisdy must go. No exceptions. We cannot feed the subsidy monster anymore...it must be starved.


(P.S If you want to know why I say this read this link.)

Have you bought diesel or kerosene recently?

Can you afford to be buying petrol at N500 per litre?

Subsidy is not the problem but the vast inefficiency in the entire value chain and the cabal that is smothering local refining of fuel.

Kasssandra:


Atiku is doing nada, nothing, zero....

The fact is, when you subsidze fuel...you make it difficult for petrol to be sold at a profit. At some point this would affect the petrleum sector and its workers.

Like the strike recently up North by some workers...the fact is, their transport costs have gone up, due to rising prices for diesel, and as a result, they couldun't afford the cost of transporting fuel to end user...because the bridging cost was not enough, even with the price increase...and then government too was struggling to pay them. So, they went on strike.

Atiku had nothing to do with it, nor did Obi.

When you set prices for a businessman, instead of letting them set their price, you run the risk of making them run at a loss. That leads to issues and problems. So, at the end, either they close down or they go on strike and demand their rights.

Whereas if there was no subsidy, sure fuel would be N260 or N400 or more, but the marketers pay themselves, instead of government...and government saves money.

But the APC you support won't remove it, because they don't know how to run an economy...so we now have a balloning budget deficit induced by subsidy...which can't cover costs.

Read what the OP wrote was responsible then read what you wrote.

Kasssandra:


Atiku is doing nada, nothing, zero....

The fact is, when you subsidze fuel...you make it difficult for petrol to be sold at a profit. At some point this would affect the petrleum sector and its workers.

Like the strike recently up North by some workers...the fact is, their transport costs have gone up, due to rising prices for diesel, and as a result, they couldun't afford the cost of transporting fuel to end user...because the bridging cost was not enough, even with the price increase...and then government too was struggling to pay them. So, they went on strike.

Atiku had nothing to do with it, nor did Obi.

When you set prices for a businessman, instead of letting them set their price, you run the risk of making them run at a loss. That leads to issues and problems. So, at the end, either they close down or they go on strike and demand their rights.

Whereas if there was no subsidy, sure fuel would be N260 or N400 or more, but the marketers pay themselves, instead of government...and government saves money.

But the APC you support won't remove it, because they don't know how to run an economy...so we now have a balloning budget deficit induced by subsidy...which can't cover costs.

Bros you don't leave pricing of essential commodities to the forces of demand and supply unless you want to finish Nigeria patapata

This has nothing to do with WIKE and would be resolved by weekend.

obi58:


Have you bought diesel or kerosene recently?

Can you afford to be buying petrol at N500 per litre?

Subsidy is not the problem but the vast inefficiency in the entire value chain and the cabal that is smothering local refining of fuel.

Yes, I know, but at the same time, when we brought in subsidy in 1973, we had two working refineries, soon to be fourby 1988, and now all of them are not working.

The reason is simple...run things at a loss, then throw in free subsidy money, the result is disaster.

Would you like to sell things at a price below what you bought it from the manufacturer, and then government pays you a subsidy that does not cover the loss? So that you can help the poor?

Niger republic, that is poorer than us,, and is an oil producer, sells fuel at N350 per liter. Because they need the profit to make their refinery run....the same refinery that provides them tons of export revenue.

The day you get subsidy, and how it works, you won't be asking me these questions.

Kasssandra:


Atiku is doing nada, nothing, zero....

The fact is, when you subsidze fuel...you make it difficult for petrol to be sold at a profit. At some point this would affect the petrleum sector and its workers.

Like the strike recently up North by some workers...the fact is, their transport costs have gone up, due to rising prices for diesel, and as a result, they couldun't afford the cost of transporting fuel to end user...because the bridging cost was not enough, even with the price increase...and then government too was struggling to pay them. So, they went on strike.

Atiku had nothing to do with it, nor did Obi.

When you set prices for a businessman, instead of letting them set their price, you run the risk of making them run at a loss. That leads to issues and problems. So, at the end, either they close down or they go on strike and demand their rights.

Whereas if there was no subsidy, sure fuel would be N260 or N400 or more, but the marketers pay themselves, instead of government...and government saves money.

But the APC you support won't remove it, because they don't know how to run an economy...so we now have a balloning budget deficit induced by subsidy...which can't cover costs.

what are you talking about?

do you even know what is going on in the industry or you are just capping beer parlour talk?

the marketers are buying direct from NNPC.

any subsidy cost is borne by NNPC

tanker drivers are not engaged by the government. they are engaged by the marketers.

all a tanker driver will do is what everyone else is doing - transfer the cost to the company/business employing him to driver the tanker. they too will transfer cost to whoever ie engaging them to move the product.

to my understanding there is no scarcity of diesel in ph - as people are buying the kpofire diesel , which will damage fuel pumps over time but will run engines

rusher14:


Read what the OP wrote was responsible then read what you wrote.

Yawn, I have read...and i still stand by what I wrote.

The reason why the petrol industry works in US, and UK and Europe, despite high taxes, is because the market is allowed to set prices that enable them meet their obligations to government in the form of taxes charged on them, as well as maintenance costs, salaries, worker's welfare, etc, etc. etc....et cetera...ceteris paribus, lomen ipsum (okay, I don't know latin too well, lol).

Meanhwile, your APC imposes a low price of fuel for marketers, and expects them to miraculosly meet taxes, and suchlike.....

Meanwhile, states have to charge taxes because income from the center is falling...a big reason why....subsidy induced deficit.

I hope you get it now.? If not...

Johnny147147:


Thats it. A litre sell as high as N700 in the black market. Its outrageous

That's in a city carrying the consequence of oil exploration whereas Kano Kaduna and Abuja are buying at normal pump prices.

GloriousGbola:


what are you talking about?

do you even know what is going on in the industry or you are just capping beer parlour talk?

the marketers are buying direct from NNPC.

any subsidy cost is borne by NNPC

tanker drivers are not engaged by the government. they are engaged by the marketers.

all a tanker driver will do is what everyone else is doing - transfer the cost to the company/business employing him to driver the tanker. they too will transfer cost to whoever ie engaging them to move the product.

to my understanding there is no scarcity of diesel in ph - as people are buying the kpofire diesel , which will damage fuel pumps over time but will run engines

And NNPC is struggling to bear the subsidy costs in full....plus the transport costs by drivers is not borne by NNPC, it is borne by the market.

Plus this strike has to do with raised taxes


That's why for any economy to run well, people have to be allowed to set their prices, so that they can earn enough profit to meet all obligaitons including taxes.

And on taxes, part of the reason why it is rising is because we are spending more and more of our oil income on subsidy, on top of falling production and stealing and so forth.

See how it goes?

Kasssandra:


Yawn, I have read...and i still stand by what I wrote.

The reason why the petrol industry works in US, and UK and Europe, despite high taxes, is because the market is allowed to set prices that enable them meet their obligations to government in the form of taxes charged on them, as well as maintenance costs, salaries, worker's welfare, etc, etc. etc....et cetera...ceteris paribus, lomen ipsum (okay, I don't know latin too well, lol).

Meanhwile, your APC imposes a low price of fuel for marketers, and expects them to miraculosly meet taxes, and suchlike.....

Meanwhile, states have to charge taxes because income from the center is falling...a big reason why....subsidy induced deficit.

I hope you get it now.? If not...

I believe in complete deregulation.

I know you don't really believe in it.

Since Sunday, it is today that the news dey reach front page. Incidentally, after they called off the strike.

Kasssandra:


Yes, I know, but at the same time, when we brought in subsidy in 1973, we had two working refineries, soon to be fourby 1988, and now all of them are not working.

The reason is simple...run things at a loss, then throw in free subsidy money, the result is disaster.

Would you like to sell things at a price below what you bought it from the manufacturer, and then government pays you a subsidy that does not cover the loss? So that you can help the poor?

Niger republic, that is poorer than us,, and is an oil producer, sells fuel at N350 per liter. Because they need the profit to make their refinery run....the same refinery that provides them tons of export revenue.

The day you get subsidy, and how it works, you won't be asking me these questions.

Bros the US subsidizes agricultural production and we are not witnessing crisis in food supply there. Other OPEC countries much richer than us still subsidise domestic fuel production why is Nigeria's different? Corruption period!

Eliminating subsidies is like throwing away the baby with the bath water.

All the cost push inflation we are experiencing is because we are importing fuel at international prices when we should be refining at local insulated costs and selling the excess not consumed domestically at inflated international prices which will not just boost our foreign reserves but improve our balance of payments position.

Until we get a government determined to scrutinize the entire oil supply value chain with view to eliminating the latent inefficiencies we can't move forward.

No be small suffer...
Businesses close
Many cars park
Legs trek wetin no good

obi58:



Bros you don't leave pricing of essential commodities to the forces of demand and supply unless you want to finish Nigeria patapata

Okay, then let government come and set the price of your business then. So that they can help the poor.

We used to do that...set prices for everything ...bread, milk, etc etc...until the big hole it bore in our budget made us recieve sense.

We also have a growing deficit in our budget due to increased subsidy spending...already we have spent more than twice what we spent on subsidy for 2021, by the begining of this month...and year has not ended.

If you want government price controls on essential goods...you will end up with what happened in the Soviet Union . Scarcity, long queues, etc...because that means that the people who bring you these essential goods won't get paid well enough for doing so...be it manufacturing workers, or salespeople, or logisitics people.

And we know what happened to the Soviet Union.

In Russia today, no price controls...shelves are stocked full to the brim.

We lost 4 refineries, and created a large corruption problem thanks to nearly 50 years of subsidy. Time it ended. If Niger that is poorer than us...far poorer than us, that people from that country come here to make a living begging in the North....does not have subsidy on petrol, who are we?

You need a profit on selling essential goods because the people who bring them to you and make them also want to be paid well. Either that, or they resort to corruption, stealing and sabotage to make extra cash...already happening.

Kasssandra:



And NNPC is struggling to bear the subsidy costs in full....plus the transport costs by drivers is not borne by NNPC, it is borne by the market.

Plus this strike has to do with raised taxes



And on taxes, part of the reason why it is rising is because we are spending more and more of our oil income on subsidy, on top of falling production and stealing and so forth.

See how it goes?

why are there no strikes in the rest of nigeria? what you are seeing is an out of control task force. nothing more. as i said - this has happened in Lagos several times before.

That's why for any economy to run well, people have to be allowed to set their prices, so that they can earn enough profit to meet all obligaitons including taxes.

prices are being set in aviation. i have been flying to kano every month since october last year. we started with 27k, and i and a partner travelled. today it is 70k and only i am travelling, and teh plane is no longer full. maybe you have not seen what FCMG have been doing? they do not increase prices - they reduce size of containers.

because all that happens when you raise prices in a shrinking economy is the bulk of your customers grit their teeth and opt for the next alternative.

you have no idea what you are calling for if petrol is completely deregulated - in a country where 80% of generators and therefore SMEs run on petrol engine generators

obi58:


Bros the US subsidizes agricultural production and we are not witnessing crisis in food supply there. Other OPEC countries much richer than us still subsidise domestic fuel production why is Nigeria's different? Corruption period!

Not to the point where it means that the farmer does not earn a profit...plus the subsides are there because the agro sector is producing in surplus that prices are falling. That's why. (victims of science).

Eliminating subsidies is like throwing away the baby with the bath water.

No, it's basically allowing the petrol sector make enough of a profit to improve domestic refining, add more refineries, export petrol, and other refined products, and provide more jobs, and end the corrupt subsidy regimem.

All the cost push inflation we are experiencing is because we are importing fuel at international prices when we should be refining at local insulated costs and selling the excess not consumed domestically at inflated international prices which will not just boost our foreign reserves but improve our balance of payments position.

And we are not refining at home because people like you want fuel that costs about N200-300 or more to refine to be sold at N175, or even N40.

Run your busienss like that , and then come talk to me.

Until we get a government determined to scrutinize the entire oil supply value chain with view to eliminating the latent inefficiencies we can't move forward.

[/quote]

No, until we get a government that removes subsidy ...so that the sector can work....because scrutinizing upon scrutinizing won't work...the subsidy means, even with corruption eliminated, that there isn't enough of a profit to run things...to say nothing of the deficit that rises when crude oil prices rise too.

rusher14:


I believe in complete deregulation.

I know you don't really believe in it.

Then why are you arguing against my position?

You don't really believe it.

Anyways....

rusher14:
You want to fight Wike with fuel marketers.

Now we know how Atiku and some elites prompt these unions to strike.

Very daft reasoning and comment. To you everything is now politics.

GloriousGbola:


why are there no strikes in the rest of nigeria? what you are seeing is an out of control task force. nothing more. as i said - this has happened in Lagos several times before.

Because if I understood the OP , the tax raise is restricted to Rivers state...unless you want to tell me Lagos is in Rivers state? (Wike would be happy!)

prices are being set in aviation. i have been flying to kano every month since october last year. we started with 27k, and i and a partner travelled. today it is 70k and only i am travelling, and teh plane is no longer full. maybe you have not seen what FCMG have been doing? they do not increase prices - they reduce size of containers.

because all that happens when you raise prices in a shrinking economy is the bulk of your customers grit their teeth and opt for the next alternative.

you have no idea what you are calling for if petrol is completely deregulated - in a country where 80% of generators and therefore SMEs run on petrol engine generators

So where would companies get money to pay workers when cost of living rises? From the magic money tree....or from price increases?

I bought for N250 per liter on Monday morning. Filling Stations are currently selling for N500 and N600 respectively. People are really suffering...