yesloaded:


They are not getting it at the said rate? Agreed!

But one happened in my presence, I wanted to buy fuel at a certain filling station but right in my presence they paused selling to increase the price with additional 5naira to make it 325 from 320. The following morning, they increased the price to 365/ltr, same fuel they were selling at 320/ltr but increased it with 45naira in less than 24hrs. Is that not wickedness? Most of these independent marketers pray the crisis continue because they were making lots of money from it

They aren't.

That N365 represents increased transport costs, plus increased depot costs.

Gr8amechi:

Read it well, no place was it said that NNPCL bring in products for 500 naira, rather he said people bought at that rate from black market, also someone noted he bought black market at 700, read it again.

The issue I noted here is how can NNPCL import products but not have where to store them?

The landing cost of fuel by NNPC was at N510 in Nov 2022.

I got that from the Sun Newspaper.

(It is very easy to get the landing cost of petrol....even at March 2021 it was N231.)

Dsalvo:


Abeg you people should shut up about this APC idiocy. Only Nigerians I know will see A to consistently claim it is B because they are as dishonest and deceitful as the leaders they love indicting of misrule.

What exactly is "APC" about Buhari and a crew, now labeled Aso rock cabal, hijacking power, ostracising others and refusing to consult or carry the wider APC along before they do things?

What is shown below is still APC ba with the APC-led FG, at a very volatile time for Nigeria, hosting a confrontational, incendiary and unhelpful stance in contrast to Tinubu's sensible suggestion ?

In civilized countries, with sophisticated voters, they call that a rogue and compromised government and not a ruling Party.

It will not be well for anyone supporting tinubu
The bribes you people collected will suffocate all of you

CheapHomes1:


How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

To be honest, I avoid having conversations of this nature on nairaland threads because the needed audience isn't available. I'll answer you now and a few others might get to read the comment, then I'll have to repeat myself on another occasion to another user, and that gets really tiring. Then again, it is what is!

1. Let me make it abundantly clear that Nigeria, as the second largest oil producing nation in Africa, had "absolutely" no business paying petrol subsidy from day one. The idea behind the entire scheme was Government telling you and I "Dear Nigerians, we have accepted our failure in setting up functional refineries to convert the natural resource we have buried in our grounds to fine products for your use. We apologise, and in order to make these fine products available for your daily use, we'll be exporting the natural resource to countries that can refine it for you, and then bring back the finished products 'at economical and affordable' prices for your use. We as the Government will bear whatever extra costs that will be associated with the transportation of these fine products back to you".

Now, being a people that enjoy cosmetic solutions to problems so we can swiftly enjoy results, we accepted the idea. All our crude oil started going out. Fuel and the likes started to come in. Government settled transportation costs. Affordable prices were set for you and I, below what they should actually be if all the transport costs were featured in. Subsidy became the child of that initiative. And NNPC became the nanny who was set up and empowered to oversee crude export and products import, price regulation, subsidy payments on every import, and the whole shindig.

So, answering your first question, there's no way anybody can tell you certain amount of subsidy has been paid and a certain amount is remaining, because it is not an accumulated debt. It is a price shortage that happens every single time petroleum products are imported back to the country for your use and mine. A shortage the Government has to pay off as an obligation on them, just so you can enjoy that reduced price on the products.

2. Ordinarily, if Nigeria had been an economically diverse Country, fuel subsidy would have been self sustained and managed from the proceeds of crude oil sales. Heck, we would have even been making savings after every subsidy claim has been paid off. But, Nigeria being a black Nation that seems to enjoy basking in the feel of temporary reprief, found oil and completely abandoned every other source of income there was, before oil. Agriculture died. Mines and steel died. Human capital development collapsed. Leaders stopped exploring other means of making money for the country's purse. Everyone and everything centered on crude oil, "the black gold". As the decades rolled, our population massively increased, development set in, people started to spread to regions that used to be uninhabited. Then we started to actually feel the biting effects of the monster that is "Corruption in the leadership circles". Sani Abacha stole most of the monies he did through the exports of crude oil and payment of subsidy claims. But we didn't exactly know until our numbers increased, we started to look for more money to meet our needs and that's when we all started to clearly see their corrupt practices. So the same subsidy that should have been self serviced from crude oil, started to become a problem because crude sales could no longer provide the needed returns to keep the economy afloat. It is now being run by a deep rooted mafia that no President can control, a mafia that can always cause economic sabotage every festive period, plunge the entire Nation into a state of unavailability and you'll see even your President looking helpless.

You can ask further questions or argue any issues herein, objectively. I have time today for some responses.

Kobonaire4:


So, if you want better fuel, pay more for it, let's remove subsidy so that we can have the money.

Good stuff costs money.

Na yeye fuel naija dey import abi
No, what we need is to get the refineries active.

When u can afford the house why choose to rent. Thats how subsidy is

Buddha3:


To be honest, I avoid having conversations of this nature on nairaland threads because the needed audience isn't available. I'll answer you now and a few others might get to read the comment, then I'll have to repeat myself on another occasion to another user, and that gets really tiring. Then again, it is what is!

1. Let me make it abundantly clear that Nigeria, as the second largest oil producing nation in Africa, had "absolutely" no business paying petrol subsidy from day one. The idea behind the entire scheme was Government telling you and I "Dear Nigerians, we have accepted our failure in setting up functional refineries to convert the natural resource we have buried in our grounds to fine products for your use. We apologise, and in order to make these fine products available for your daily use, we'll be exporting the natural resource to countries that can refine it for you, and then bring back the finished products 'at economical and affordable' prices for your use. We as the Government will bear whatever extra costs that will be associated with the transportation of these fine products back to you".

Now, being a people that enjoy cosmetic solutions to problems so we can swiftly enjoy results, we accepted the idea. All our crude oil started going out. Fuel and the likes started to come in. Government settled transportation costs. Affordable prices were set for you and I, below what they should actually be if all the transport costs were featured in. Subsidy became the child of that initiative. And NNPC became the nanny who was set up and empowered to oversee crude export and products import, price regulation, subsidy payments on every import, and the whole shindig.

So, answering your first question, there's no way anybody can tell you certain amount of subsidy has been paid and a certain amount is remaining, because it is not an accumulated debt. It is a price shortage that happens every single time petroleum products are imported back to the country for your use and mine. A shortage the Government has to pay off as an obligation on them, just so you can enjoy that reduced price on the products.

2. Ordinarily, if Nigeria had been an economically diverse Country, fuel subsidy would have been self sustained and managed from the proceeds of crude oil sales. Heck, we would have even been making savings after every subsidy claim has been paid off. But, Nigeria being a black Nation that seems to enjoy basking in the feel of temporary reprief, found oil and completely abandoned every other source of income there was, before oil. Agriculture died. Mines and steel died. Human capital development collapsed. Leaders stopped exploring other means of making money for the country's purse. Everyone and everything centered on crude oil, "the black gold". As the decades rolled, our population massively increased, development set in, people started to spread to regions that used to be uninhabited. Then we started to actually feel the biting effects of the monster that is "Corruption in the leadership circles". Sani Abacha stole most of the monies he did through the exports of crude oil and payment of subsidy claims. But we didn't exactly know until our numbers increased, we started to look for more money to meet our needs and that's when we all started to clearly see their corrupt practices. So the same subsidy that should have been self serviced from crude oil, started to become a problem because crude sales could no longer provide the needed returns to keep the economy afloat. It is now being run by a deep rooted mafia that no President can control, a mafia that can always cause economic sabotage every festive period, plunge the entire Nation into a state of unavailability and you'll see even your President looking helpless.

You can ask further questions or argue any issues herein, objectively. I have time today for some responses.

Much of what you typed is offpoint. All I asked is simple....How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

FarahAideed:
Kai Buhari has really ruined ruined everything

..and Buhari is the minister of petroleum.... Buhari has failed

And Buhari is the minister of petroleum..... Buhari has failed and destroyed this country

CheapHomes1:


Much of what you typed is offpoint. All I asked is simple....How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

Lol.

I was going to be rude with this comment but I decided against it on second thoughts. I gave you detailed responses to both questions but you seem like one of those Nigerians who lack the patience to read and carefully digest contents. So I'll let your derogatory comment slide.

No disrespect intended, but your first question is outright dumb. No subsidy has been removed on petrol. You cannot remove subsidy in instalments, as long as you don't have a single functional refinery and the quantity of fuel used daily by Nigerians doesn't decrease but rather keeps being on the increase. Long as you keep importing, you'll keep paying subsidy claims and there's no partial removal. All of that nonsense Government keeps blabbing on the news about removing this or that at any point in time, is pure deceit.

And subsidy doesn't manage itself. Your fuel consumption determines it. Corruption inflates it. Government pays it. The entire dirty Nigerian system manages it, of which we're both a part of.

Buddha3:


Lol.

I was going to be rude with this comment but I decided against it on second thoughts. I gave you detailed responses to both questions but you seem like one of those Nigerians who lack the patience to read and carefully digest contents. So I'll let your derogatory comment slide.

No disrespect intended, but your first question is outright dumb. No subsidy has been removed on petrol. You cannot remove subsidy in instalments, as long as you don't have a single functional refinery and the quantity of fuel used daily by Nigerians doesn't decrease but rather keeps being on the increase. Long as you keep importing, you'll keep paying subsidy claims and there's no partial removal. All of that nonsense Government keeps blabbing on the news about removing this or that at any point in time, is pure deceit.

And subsidy doesn't manage itself. Your fuel consumption determines it. Corruption inflates it. Government pays it. The entire dirty Nigerian system manages it, of which we're both a part of.

If you want to be rude, feel free. That's not my problem. Your "detailed explanation" is offpoint.

How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

According to you..."And subsidy doesn't manage itself. Your fuel consumption determines it."

What is the correlation between "manage" and "determine"?

CheapHomes1:


If you want to be rude, feel free. That's not my problem. Your "detailed explanation" is offpoint.

How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

According to you..."And subsidy doesn't manage itself. Your fuel consumption determines it."

What is the correlation between "manage" and "determine"?

I wasted my time engaging you from the start. I honestly thought you were among the few intelligent and objective users on this platform. You're clearly one of those who go out of their way to be irritating even when the circumstances don't call for it.

Enjoy the rest of your day!

Buddha3:


I wasted my time engaging you from the start. I honestly thought you were among the few intelligent and objective users on this platform. You're clearly one of those who go out of their way to be irritating even when the circumstances don't call for it.

Enjoy the rest of your day!

I didn't ask you to waste your time. You chose to waste your by typing an epistle full of offpoints for very simple questions. For example, According to you..."And subsidy doesn't manage itself. Your fuel consumption determines it."

What is the correlation between "manage" and "determine"?

How much subsidy has been removed so far and how subsidy is left to be removed?

Does fuel subsidy control and manage itself?

olgaa14:


How can you be struggling to access petrol,cash and baisc things and still have the guts to spew this trash,basically you saying we
Should help apc fight the cabal that only apc insiders know about and still leave apc in power...the idiocy is on you. I think you should use your brain more.

No dey reply that fool jere

Person wey him brain don dey suspended already

gonkin:

Na yeye fuel naija dey import abi
No, what we need is to get the refineries active.

When u can afford the house why choose to rent. Thats how subsidy is

Even if we refine at home, good quality is not cheap

The reason why the fuel is bad is because we refine it abroad, to keep costs down, in subpar refineries. But the costs are going up

Also, NNPC cannot build new refineries because the nature of the subsidy beast means it cannot earn enough profit to do so.

Kobonaire4:


Even if we refine at home, good quality is not cheap

The reason why the fuel is bad is because we refine it abroad, to keep costs down, in subpar refineries. But the costs are going up

Also, NNPC cannot build new refineries because the nature of the subsidy beast means it cannot earn enough profit to do so.

Give me a drum of crude i go run am for my backyard

God will deal with all of you in a brutal way

adenigga:


Source: https://punchng.com/N195-enforcement-Fuel-marketers-plan-shutdown-Monday

The federal government should simply station security at all MOMMAN N DAPPMAN depots to ensure that they sell to IPMAN at the right price,then IPMAN can be forced to sell at #195 without complain,but if the depots guys are not monitored then no one should fault IPMAN.

Independent marketers are d problem of this country. Very greedy and selfish. They should close down and go to extinction, who cares. Very useless set of people.

Noblex2011:
God will deal with all of you in a brutal way

Buddha3:


To be honest, I avoid having conversations of this nature on nairaland threads because the needed audience isn't available. I'll answer you now and a few others might get to read the comment, then I'll have to repeat myself on another occasion to another user, and that gets really tiring. Then again, it is what is!

1. Let me make it abundantly clear that Nigeria, as the second largest oil producing nation in Africa, had "absolutely" no business paying petrol subsidy from day one. The idea behind the entire scheme was Government telling you and I "Dear Nigerians, we have accepted our failure in setting up functional refineries to convert the natural resource we have buried in our grounds to fine products for your use. We apologise, and in order to make these fine products available for your daily use, we'll be exporting the natural resource to countries that can refine it for you, and then bring back the finished products 'at economical and affordable' prices for your use. We as the Government will bear whatever extra costs that will be associated with the transportation of these fine products back to you".

Now, being a people that enjoy cosmetic solutions to problems so we can swiftly enjoy results, we accepted the idea. All our crude oil started going out. Fuel and the likes started to come in. Government settled transportation costs. Affordable prices were set for you and I, below what they should actually be if all the transport costs were featured in. Subsidy became the child of that initiative. And NNPC became the nanny who was set up and empowered to oversee crude export and products import, price regulation, subsidy payments on every import, and the whole shindig.

So, answering your first question, there's no way anybody can tell you certain amount of subsidy has been paid and a certain amount is remaining, because it is not an accumulated debt. It is a price shortage that happens every single time petroleum products are imported back to the country for your use and mine. A shortage the Government has to pay off as an obligation on them, just so you can enjoy that reduced price on the products.

2. Ordinarily, if Nigeria had been an economically diverse Country, fuel subsidy would have been self sustained and managed from the proceeds of crude oil sales. Heck, we would have even been making savings after every subsidy claim has been paid off. But, Nigeria being a black Nation that seems to enjoy basking in the feel of temporary reprief, found oil and completely abandoned every other source of income there was, before oil. Agriculture died. Mines and steel died. Human capital development collapsed. Leaders stopped exploring other means of making money for the country's purse. Everyone and everything centered on crude oil, "the black gold". As the decades rolled, our population massively increased, development set in, people started to spread to regions that used to be uninhabited. Then we started to actually feel the biting effects of the monster that is "Corruption in the leadership circles". Sani Abacha stole most of the monies he did through the exports of crude oil and payment of subsidy claims. But we didn't exactly know until our numbers increased, we started to look for more money to meet our needs and that's when we all started to clearly see their corrupt practices. So the same subsidy that should have been self serviced from crude oil, started to become a problem because crude sales could no longer provide the needed returns to keep the economy afloat. It is now being run by a deep rooted mafia that no President can control, a mafia that can always cause economic sabotage every festive period, plunge the entire Nation into a state of unavailability and you'll see even your President looking helpless.

You can ask further questions or argue any issues herein, objectively. I have time today for some responses.

Nice Analysis and well assimilated.