SensualMan1:
Yorubas will buy fuel at N86 while the Igbos will comfortably buy it at N600 for their v8 engines with no complaints.

Keep doing it Jagaban! Dish out ur horses whip on their back. Make them gnash their teeths on a road filled with peril. Soon they won't be able to afford their roadside ewa agoyin. Make them starve to death. Make them thin like skeleton. Make them know u r the Jagaban that u made urself President and not them.

Aguogba:

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.

AntiChristian:
There's no way there won't be pain? Forget campaign after election!

Dbegining:

Transfers were made. Or have you forgotten Abike the Diaspora agency boss that confirmed the one in Ikorodu?

Idaytesj29:
He said so many unrealistic Disneyland policies that has no guarantees. No pain, no gain. Obi supporters want to fix the country without sacrifices.
Dey play

maasoap:

My household and I voted for Tinubu and nobody transferred money to us, likewise many voters that I knew. May be 5k was transferred to you, I can't say.

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.

obaidan:
not so much by significantly
There's an element of competition or lack of it In price determination of finished product. I get your point u are largely correct, but this little element of competition will shed as much as 30 naira if not more from this 500 naira....this is something

maasoap:

Why would you buy at 2500 naira and sell at 2000 naira



You don't know your Maths at all. The price you buy determines the price you sell. You bought N170 per litre and sell N450 per litre, you already made your profit. If you go back and buy at N500 per litre, you won't come back and sell at N450/L.
So my friend, why would you say anyone who bought subsidised petrol and selling N500/L now doesn't make profit? Go back to school

grandstar:


Many thanks for your response.

I am glad you get the sense of what I am saying.

Nigerians think the price would drop fantastically once the subsidy is removed especially once competition is thriving.

The benefits from local refining and competition will only affect the price a little.

The real benefit from fuel subsidy removal would be the massive investment that would flow into the petroleum industry. Just think of what happened in the telecoms industry now repeating itself in the oil and gas industry? It would be transformative. It would create wealth.

Expect more refineries to be built. The country has barely tapped the potential that awaits it in the downstream sector.

AntiChristian:
PRESS STATEMENT

ADJUSTMENT IN PUMP PRICE OF PMS



https://twitter.com/nnpclimited/status/1663897300651966466


See the new price list here https://www.nairaland.com/7709977/nnpc-hikes-petrol-prices-across

obaidan:

Do you know another reason I think it's going to be difficult for the people to wait as they patiently waited for the transformation in the telecoms sector. For telecoms, we were coming from a place of mobile phone and even landlines being a luxury or something for the rich and upper middle class kind of, so it was easy for the people to look away while the gains materialize. In this case of oil and gas, we are coming from a place where even the poor will be badly affected in all of their doings. From tuition, to cost of any kind of food they eat, to cost of transportation. I still think this government should have started with measures to pacify the people, particularly the poor, even if it's not going to be enough at least something they can hold on to while they wait for the gains to materialize. Something like a massive teacher recruitment, followed by free tuition in secondary and primary schools across the country.
The gains of subsidy removal by a serious govt is massive in the long run but the govt has to be trusted by the people. They are just leaving room for saboteurs to jump on the gnashing of the poor to cause problems. And I don't expect APC to make this same mistake, they understand this gimmick more than anyone else. I hope for the best sha.

Pickmycall:
PO would not have made the pronouncement immediately at the inauguration ground without consulting the relevant stakeholders.

NzogbuNzogbu:
I am not tinubu supporter o (I troll any side goofing)

I just hate hypocrisy

maasoap:

Why would you buy at 2500 naira and sell at 2000 naira



You don't know your Maths at all. The price you buy determines the price you sell. You bought N170 per litre and sell N450 per litre, you already made your profit. If you go back and buy at N500 per litre, you won't come back and sell at N450/L.
So my friend, why would you say anyone who bought subsidised petrol and selling N500/L now doesn't make profit? Go back to school

Aguogba:

Lol. Now i know why a lot of people fail in business.
To make it clear like ABC to you like a JJC that you are.

Assume you got a loan to start petroleum retail. You rented a station everything is in place. You used your capital and bought A SINGLE TANKER of petrol as at May 25th for 175/L ×33,000 (5,775,000) . Normally you would sell for 220/L and make profit of 45/L (profit is 1,485,000 )

Now after 29th May, subsidy is removed. As novice wey u be, u rush sell that product for 450/L. For your "Olodo" mind u don hammer be that. Na to go price land for a new station. 450×33,000 =14,850,000. (profit is 9,075,000 abi)

Then you go to depot to buy ANOTHER SINGLE TANKER of 33,000 litres of petrol and they tell you Depot price is 480/L
480×33,000= 15,840,000.
Now answer me, did you MAKE PROFIT?

maasoap:


Long story. The price you buy determines the price you sell. They're selling subsidised petrol at 500/L.
If you go back and buy 450/L now, you're free to determine what price you will sell to make profit.

maasoap:


Long story. The price you buy determines the price you sell. They're selling subsidised petrol at 500/L.
If you go back and buy 450/L now, you're free to determine what price you will sell to make profit.

Tonalphs:
At least our refineries should be working before subsidy is removed.

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.

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?

Dybala11:

How far na. 🙄

Nahunger:


😂😂😂😂 E dey favor me oo... I no even get voters card na people wey vote I dey pity pass

Dybala11:

E be like say e dey favour everybody one way or the other right now sef. 😂😂😂😂

Nahunger:


😂😂😂😂
God abeg 🤲