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NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement - Politics (8) - Nairaland

Nairaland Forum / Nairaland / General / Politics / NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement (69548 Views)

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Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by hardbars: 5:46pm On May 31, 2023
priceactionx:
so pe otilo
I learnt that this is how many of these fuel cabals operate to cheat the government. Some get access to oil blocks ( but cant refine the crude oils) so they ship it and sell it to their cronies that have a lot of stakes in modular refineries abroad, in which they import it back to nigeria at a subsidized rates being paid by the government. So virtually carrying nigerian crude oil abroad to refine, and sell it far higher than even the supposed money without the subsidy, yet come back, claim subsidies, making monies in multiple ways, claiming they are multi billionaire , forbes this, forbes that. If you look well, they are same people behind all these forex and dollar manipulations.
My fear is that until i see this new government encouraging and commisioning modular refineries after maximum, let's say, 2 years of this price adjustments in each region, and selling crude oil at local price in naira directly , simuteneoulsy, to the operators, things may be getting worse. If i remember, Tinubu said he would waive a lot of taxes for investors that want to be part of oil industry revolutions, so that they get waivers to subsidize the price and improve employments to the citizen if elected, ( cos he himself is an oil expert and know much of the industry) BUT CAN WE Really TRUST POLITICIANS in nigeria? Will they allow him to work?

Do we, nigerians have that patience? DONT WE, as a citizens like cutting corners just look at how filling stations sky rockets their prices overnights over the stock they have at hand? Drop gas price by 10 naira and you will hear them saying they have never seen any official letters. It will take them 2 months to adjust.
Same thing should be aplicable to all other sectors especially agricultural sector, region by region ,which i also believe that shetimma is also an expert in that sector and can handle that. Revolutionise and encourage mechanized farming and let the price of basic food fall and avoidable.
I dont know if it is practicable or possible. i just dont know.

expert in that sector expert in this sector. Make we dey see na. all of una wey no wan learn go still learn. if you no gree learn your children go need learn on your behalf. continue
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:48pm On May 31, 2023
Dotherightthing:
So it's a settled matter already!

I knew yesterday's news that the subsidy removal was not with immediate effect was FAKE NEWS! cheesy

Wtf is Asiwaju Bola Ahmed media centre

Abi o! How people dey react as if na Tinubu talk for that thread yesterday na e I no know.
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:50pm On May 31, 2023
GABUJABOY:
Food stuffs will soon skyrocket, then Renewed hope will kick start. shocked

Renewed hope or renewed suffering? grin cheesy

1 Like

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by droid9: 5:50pm On May 31, 2023
Nahunger:
Well, I pray this government will favour me and my family what ever policies, decision or inactions they take it will be to my favour and not be a disadvantaged to me.
Rest, this is not prayer something. If this continues even the rich will go broke, only the super rich billionaires will benefit, the only way out is to run outside. We told you people!

1 Like

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:51pm On May 31, 2023
southsouthking:
Renewed hope😂😂😂

More like renewed misery 🤣🤣🤣🤣🤣🤣
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by ufotunang: 5:51pm On May 31, 2023
Useless NNPC... common to repair and rehabilitate your existing refineries in order for it to work you cannot. Just to embezzle and loot money they know
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:51pm On May 31, 2023
ThatCEO:
Renewed suffering be this o

We no warn you people?
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by garfield1: 5:52pm On May 31, 2023
UKEMY:
@garfield1
@senatedave1
What is your Opinion on the Stop to Subsidy payment and increase in PM's?

Either we stop subsidy or we continue the borrowing spree.the dangote refinery just like his cement won't change anything
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Tonalphs(f): 5:54pm On May 31, 2023
At least our refineries should be working before subsidy is removed.

1 Like

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by hadex90(m): 5:54pm On May 31, 2023
priceactionx:
so pe otilo
I learnt that this is how many of these fuel cabals operate to cheat the government. Some get access to oil blocks ( but cant refine the crude oils) so they ship it and sell it to their cronies that have a lot of stakes in modular refineries abroad, in which they import it back to nigeria at a subsidized rates being paid by the government. So virtually carrying nigerian crude oil abroad to refine, and sell it far higher than even the supposed money without the subsidy, yet come back, claim subsidies, making monies in multiple ways, claiming they are multi billionaire , forbes this, forbes that. If you look well, they are same people behind all these forex and dollar manipulations.
My fear is that until i see this new government encouraging and commisioning modular refineries after maximum, let's say, 2 years of this price adjustments in each region, and selling crude oil at local price in naira directly , simuteneoulsy, to the operators, things may be getting worse. If i remember, Tinubu said he would waive a lot of taxes for investors that want to be part of oil industry revolutions, so that they get waivers to subsidize the price and improve employments to the citizen if elected, ( cos he himself is an oil expert and know much of the industry) BUT CAN WE Really TRUST POLITICIANS in nigeria? Will they allow him to work?

Do we, nigerians have that patience? DONT WE, as a citizens like cutting corners just look at how filling stations sky rockets their prices overnights over the stock they have at hand? Drop gas price by 10 naira and you will hear them saying they have never seen any official letters. It will take them 2 months to adjust.
Same thing should be aplicable to all other sectors especially agricultural sector, region by region ,which i also believe that shetimma is also an expert in that sector and can handle that. Revolutionise and encourage mechanized farming and let the price of basic food fall and avoidable.
I dont know if it is practicable or possible. i just dont know.
what you wrote here is the simple fact. What the government should have done is to repair our local refineries even before thinking of removing subsidy (infact subsidy will automatically remove). The government knows the truth but they are just not ready for the masses to pull out of poverty.
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:55pm On May 31, 2023
mytime24:
yes at old rate grin

grin cheesy
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by yemi1504: 5:57pm On May 31, 2023
wonder233:
Now, I'm confused:
Is this "price adjustment to reflect market realities" the same as "no-subsidy" price? If it is, then why is it coming in May instead of June ending?

They decided to crack the whip early nau grin cheesy
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by nedekid: 5:58pm On May 31, 2023
tommykiwi:
I believe with APC member card, they will still buy Fuel at a lower pric
I bought for ₦195 today at mobil akowonjo.
They had 2 pumps for only apc card carrying members, you also have to be a Lagos indigene.
cool
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by GENTLEGENERAL: 5:58pm On May 31, 2023
[quote author=AntiChristian post=123489437]There's no way there won't be pain? Forget campaign after election!

Keep deceiving yourself

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Blackdisciple(m): 6:01pm On May 31, 2023
Omoh that NNPC Na mallams full there oo.
Come to DPR for kofo Abayomi for v.i lagos sef Na dem still full there ooo...
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Voldoz: 6:02pm On May 31, 2023
AntiChristian:
There's no way there won't be pain? Forget campaign after election!


TALK WELL OO

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by bionixs: 6:06pm On May 31, 2023
They will remove subsidy at the detriment of the masses and will still embezzle the money they don’t want to pay.

I suspect that they want to use the money to settle all the bribes they gave to buy presidency. You think Tinubu be your papa abi

1 Like

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Westerhoffe(m): 6:07pm On May 31, 2023
Pickmycall:
God bless tinubu.
God bless federal government of Nigeria.
God bless all tinubu's supporters.
God bless APC.
God bless Nigeria.
What I posted up there are
SARCASM
Una think say I mean am? tongue

You're done… cooked by nairalanders and ready to eat.
cheesy




Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by smileyoo: 6:11pm On May 31, 2023
sotall:
undecided

So NNPC is selling fuel that has been subsidized at a higher rate and they are doing it with their full chest.
bros. i just wonder oooo.
if this is not looting from day one, i don't know what else to call it.
nigerians still have a month of grace before the fuel subsidy elapse, why the haste instead of using the period to put in place policies that will cushion the effects of fuel subsidy removal.
i just hope Oga tinubu will not disappoint us.
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by ShaqFu: 6:29pm On May 31, 2023
I wonder how the government plan on cushioning the effect of the price of goods and services. It's a standard fact when the price of petrol increase, everything goes up, even the price of toothpick.

Chai!
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by ModCaller: 6:35pm On May 31, 2023
slawomir:
Damnnn niggar

Can't imagine I filled my gadmnnn lexus 350 tank today with almost 36 thousand naira something I normally do with 16 thousands naira

Hope they give more licences to other importer of this gadamnnn fuel

Ain't gonna be spending my hard earned money for weed and alcohol on some damnn fuel
My Aston Martins was 125 liters. Cost 73k to load
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Nahunger(m): 6:35pm On May 31, 2023
elonize:
leave all dis tinz guy,when u dey abroad, u nogo fit talk dis kind word.

Dis is wat sm ppo use to console demselves,wem dem.reach abroad..u won't hear dem say dis

As I no get money to go abroad and I no get better job shey make I dey pray make things worst pass as e be?? Abi you go feed me? Or help me go abraod??
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Nahunger(m): 6:38pm On May 31, 2023
droid9:

Rest, this is not prayer something. If this continues even the rich will go broke, only the super rich billionaires will benefit, the only way out is to run outside. We told you people!

You told who what?? Do I look like I belong to any political party or like I have even have voters card....

Oga am in Nigeria, I don't care who leads since I have no power to Influence any outcome so I will work and pray for God to give me what to eat, carry your political nonsense out of my face
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by NzogbuNzogbu: 6:42pm On May 31, 2023
ArcSEMPECJ:


Now am seeing quality Politics here.....I know you as a stunt supporter of Tinubu but your own support is for good .....

I like people that go to a bitter leaf tree and tell it, you are bitter!!!!!!!!!!!!

Than people that will be chewing it and be smiling with an awkward face ....lols
I am not tinubu supporter o (I troll any side goofing)

I just hate hypocrisy
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Carot: 6:46pm On May 31, 2023
priceactionx:

why wont it be gone, e be like say na romance section you dey active pass, lol tongue?
goodlady, stupid gal come and put mouth and have sex
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Aguogba(m): 6:52pm On May 31, 2023
priceactionx:
so pe otilo
I learnt that this is how many of these fuel cabals operate to cheat the government. Some get access to oil blocks ( but cant refine the crude oils) so they ship it and sell it to their cronies that have a lot of stakes in modular refineries abroad, in which they import it back to nigeria at a subsidized rates being paid by the government. So virtually carrying nigerian crude oil abroad to refine, and sell it far higher than even the supposed money without the subsidy, yet come back, claim subsidies, making monies in multiple ways, claiming they are multi billionaire , forbes this, forbes that. If you look well, they are same people behind all these forex and dollar manipulations.
My fear is that until i see this new government encouraging and commisioning modular refineries after maximum, let's say, 2 years of this price adjustments in each region, and selling crude oil at local price in naira directly , simuteneoulsy, to the operators, things may be getting worse. If i remember, Tinubu said he would waive a lot of taxes for investors that want to be part of oil industry revolutions, so that they get waivers to subsidize the price and improve employments to the citizen if elected, ( cos he himself is an oil expert and know much of the industry) BUT CAN WE Really TRUST POLITICIANS in nigeria? Will they allow him to work?

Do we, nigerians have that patience? DONT WE, as a citizens like cutting corners just look at how filling stations sky rockets their prices overnights over the stock they have at hand? Drop gas price by 10 naira and you will hear them saying they have never seen any official letters. It will take them 2 months to adjust.
Same thing should be aplicable to all other sectors especially agricultural sector, region by region ,which i also believe that shetimma is also an expert in that sector and can handle that. Revolutionise and encourage mechanized farming and let the price of basic food fall and avoidable.
I dont know if it is practicable or possible. i just dont know.
Make I ask you this. If you go to poultry farm and BUY 1 crate of egg at 1k to SELL AT 1500 and on your way back, you hear that purchase price is now 2k to sell 2500. Do you think that you will make profit even if you sell that one you bought for 2k?

These are simple knowledge that business people possess that even learned people outside the business community don't easily understand. You have to be involved to understand what they know.

This singular example I gave you above is a tip of the iceberg. It is one of the reasons that inexperienced people lose their capital and fold up through bankruptcy. They do not know economic secrets that guide businesses.

That is why Igbos do "NWABOY" or apprenticeship for every branch of business. When you prove yourself worthy, Oga go leak some of these priceless secrets to you. Dem no dey teach am for school.

Coming back to the subject, a petroleum dealer that bought his PMS (petrol) for e.g 170/L cannot make profit even if he sells each litre for 450naira.
The ONLY way he can make profit and remain in business is to sell at his NORMAL margin ON TOP of the current (EX DEPOT) pump price. Unfortunately, this price is not yet fixed by FG /NNPC, PPMC
So, most marketers, as it stands, will prefer to LOCK UP their stations pending official depot price release.
Those that want to GAMBLE can only afford to sell at a margin of e.g 10-15 Naira above NNPC station prices for each state. That's the only way they stay in business irrespective of how much they bought the fuel that they have now. Remember, they will have to buy another consignment after selling what they have.
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by chaloskyx: 6:54pm On May 31, 2023
Good job BAT and NNPC tbis is a good move that favors all political elites as for the poor masses sorry for una
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Greattha: 7:10pm On May 31, 2023
They will never see reason with you so just ignore them.

I bet his team didn't even know he was going to utter such statement right there at inauguration.

We all agree the removal should happen but how can you not make efforts to alleviate the expected effects and mitigate the risks before removal?

Imagine if tinubu and all the occupy nigeria protesters allowed Jonathan back then, the worst would've been over by now.

But they will always justify evil to suit their narratives.

NzogbuNzogbu:
I don't support peter obi, but you can not expressly quantify what immediately he is referring to

You know why?

He said he was going to make sure there are efforts to cushion the effect which can't happen in the first day like tinubu

Tinubu goofed just rest
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Goodlady(f): 7:22pm On May 31, 2023
Carot:
goodlady, stupid gal come and put mouth and have sex
Your are worthless. This pad get value pass you.

Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Awaja(m): 7:41pm On May 31, 2023
You released a useless statement by not stating how much we are expected to pay now,una shame deh shame me
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Harmless1b(m): 7:47pm On May 31, 2023
I even like it... Make una bat feel the heat of the trap set by buhari within 8yrs... Make my obi dey for corner dey smile
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by maasoap(m): 7:51pm On May 31, 2023
DOptical:


Aren't they Nigerians?
No. They are the government. Lol

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