Supremos:
Uncle @Lalasticlala

This is a very good and laudable development don't you think so?.

Let's celebrate with Innoson Vehicle Manufacturing (IVM).

We celebrate you Dr Ifediaso Innoson Chukwuma

Supremos:
CNG means Compressed Natural Gas

LNG means Liquidified Natural Gas



The importance is that they're clean energy, odourless, has zero carbon emission, cheaper than petroleum motor spirit (PMS) aka Fuel, and diesel

pocom16:


The point I made is that PMS has a constant and regulated price.. if fuel subsidies are removed.. the official price will be let say.. N400

even if all the cars in Nigeria switch to CNG..PMS will still be sold at N400.. as that prices is not influenced by demands or supply of PMS but by the price of crude oil used in processing

treatise:

SON isn't different from INEC. I've seen a couple of innoson vehicles that are a few years old, hmmmm

stanluiz:
Who tell you ? Have you been to his factory at Nnewi ?

Innoson car that is exported to other west Africa countries.

Carry your badbelle commot from this thread

Supremos:
I think you're a bit wrong Sir.

The reason government has petroleum pricing regulatory body is because the government is the one subsidizing the product. Subsidizing the product here means that the government is the one paying certain amount of money albeit huge sum, to independent marketers who imports the product. The reason for giving the money to this importers is because they said if they add all the expenses they uncured in the cause of bringing in petrol into the country, that the pump price of the petrol we're buying will be more than what we're buying now. So government has to pay them some amount to offset part of that expenditure, in other to make sure the price is affordable. Haven offset part of the expenditure, the federal government has the right to determine how much fuel has to be sold to the public, that's why Petroleum products pricing regulatory agency PPPRA was established.

I know why I went into details

Now, if the federal government removes subsidy, they won't have right to tell importers how much they will sell their products because you don't know how much expenses they incured in the cause of bringing in the products.

Haven established that, there's no way the price of Petrol will be pegged at certain amount after subsidy is removed,because price is determined by economic law of demand and supply.

Therefore, their won't be any official price for petrol after subsidy is gone.
Market forces of demand and supply and availability, will determine the price.

The price won't be stable.

Just like every other commodity in the market.

People will go for cheaper source of energy to power their automobiles.

If CNG LNG is cheaper than PMS they will go for CNG LNG.

If greater percentage of the people opt for CNG LNG, it will affect PMS because it will no longer be attractive because of high cost of pump price. And when it's no longer attractive, the price will most likely drop.

Lionelbhass:
Innosson needs better funding, make one wealthy organization just buy part of their shares. Boom💨

ibechris:




The largest ever found in the world,especially in Imo state.

sunboy:


False information. Russia, Iran and Qatar in that order has worlds largest proven gas reserve in the world. Taink you!

Supremos:

https://www.youtube.com/watch?v=R3piRZJ3u3U

We are thrilled to announce that the grand commissioning of the Innoson CNG/LNG bus by the President of the Manufacturers Association of Nigeria is finally here!



https://www.facebook.com/100064624784510/posts/605903741573780/?mibextid=mna8qTP8xvtPE1tK

ibechris:



Russia has the 37.4trillion cubic feets but imo state has 200 trillion cubic feet,that is the largest in the world currently and yet untapped.

In fact,it was accidentally discovered.

sunboy:


Proven by who? Provide evident for that.

sunboy:


Proven by who? Provide evident for that.

pocom16:


First of all there is no independent marketer importing fuel.. NNPC is the sole importer of all petroleum products.

Second..
The drop out of the so called demand and supply isn't going to be significant..inshort when subsidies are removed the only thing that can significantly drop PMS prices is crude oil prices.. how many people consume diesel.. inshort do you know when diesel prices increased x4 alot of businesses abandoned it..some didn't..still did it force the price down? No.. Diesel is also fully deregulated .

When kerosene was the normal house hold fuel for cooking..GEJ removed subsidies off kerosene and prices jumped .every one simply switched to gas.. today an average family doesn't use kerosene yet the prices are still very high.. because of the cost of production attributed to crude oil prices and exchange rates..

Every one switching to CNG will not significantly impact on PMS prices.. the crude oil price will . Those who process crude oil to PMS have an average leverage as profit they make.. The price can go higher if there is a scarcity though..

manutdrichie:
What is the keke doing there?

Is it CNG/LNG keke?

CondenseMilk:
well-done innosson.

Nigerians and Africans should buy cars and buses from this man.

His cars has same quality you can find in cars abroad.

Supremos:
This is a very welcomed development.

It will force down the prices of pms and Gasoline


https://www.youtube.com/watch?v=R3piRZJ3u3U

onukwube1:

Ignorance is really a costly disease. There is no car company in the world that produces all the components of a vehicle. Not even Toyota. Google will educate you but you choose hate over knowledge.

ibechris:



Another below.

ibechris:



That is it below.

Asswipemod:


But oga, PMS and Gasoline na the same tin naa

Supremos:
CNG means Compressed Natural Gas

LNG means Liquidified Natural Gas



The importance is that they're clean energy, odourless, has zero carbon emission, cheaper than petroleum motor spirit (PMS) aka Fuel, and diesel

Flier:
Every part of Innoson is imported,its just being assembled in Nigeria
No car maker can make all its parts alone,Nobody use chinese cars its plastic

Supremos:
Exactly. Buy Nigeria vehicles to grow Nigerian economy.

Buy African vehicles to grow African economy.

Enough of capital flight