Islie:
"We told the NNPC to recover its costs because they know how much it cost them to import the product and sell it."



https://www.premiumtimesng.com/news/headlines/602193-we-wont-fix-petrol-prices-again-nigerian-agency.html

There is a video making rounds of a Customs officer that arrested NNPC trucks carrying fuel to Cameroon.

NNPC imports fuel, the same NNPC carries fuel to Cameroon.

Some screen grabs of the video below

Blaze14k:


So if we have alot of importers do you think the fuel price will drop as low as 200? And what happens when there increase in cost of crude oil per barrel. Oya explain mr intelligent. Most of u dumb Bleep dont do your home work before coming to attack me

Everybody will have to adjust to new price

casualobserver:


You are the one who is unntelligent. All the 4 major candidates have said they will remove subsidy. Peter Obi specifically said “from day 1”. So this has nothing to do with Tinubu.

Let us now try and approach this from an intelligent point of view ( if you are indeed capable of intelligence)

1. Immediately Tinubu announced the full removal of subsidy, petrol prices went up in Cameron, Togo, Benin. What does that tell you, what does Nigeria have to do with these countries? You use the word intelligent so I assume you can do the math.
2. We have been borrowing to subsidize petrol to the tune of $10b a year, mind you our total government expenditure in a year is about $40b. So a quarter of our expenditure goes to subsidize petrol including petrol in neighboring countries. Not only that we are borrowing the money. What this means is a family has no money to feed itself, to clothe its children, to pay for electricity, to send its children to school but is BORROWING to feed its neighbors.
3. What right do you have to subsidized petrol? Ghana is an oil producing country, petrol costs N870/ liter. Of all the countries in west Africa Nigeria has the cheapest petrol, the next cheapest is more than f
4x. Clealrly our petrol price is unsustainable. All these countries are surviving while paying petrol 4 times what we pay In Nigeria. None of them are listed as poverty capital of the world.
4. Do you know what $10b a year can do for infrastructure, roads, rail school, heath etc.
5.finally it is not like ther is some $10b somewhere that we were spending yearly on subsidy, we were borrowing the money to maintain subsidy.

Look at the table below, does it make any sense to you? Mind you this is calculated assuming Naira is fully floated (715 to $)

You are clearly stupid for wasting your time to drop this analysis with out proving a back up plan to boost the economic situation in nigeria. How many millions of nigerians can afford a high pay per day without doing any business?

MarketDispatch:


There is a video making rounds of a Customs officer that arrested NNPC trucks carrying fuel to Cameroon.

NNPC imports fuel, the same NNPC carries fuel to Cameroon.

Some screen grabs of the video below

That's why the subsidy must be removed. Whether it's NNPCL or any other marketer. As the subsidy is gone now, they are free to export the oil

Omoapena:
This country is gradually killing its citizens, removing subsidy outrightly isn't a right decision to take, at least reduce the subsidy by 50% and watch how things unfold for 1year, by then, people would have adjusted then remove the remaining 50% after a year...


God will save this country from this incompetent leaders

Oga GEj and Buhari tried it, that is why sometimes you hear subsidy is gone then they come back to shock nigerians they are still paying subsidy.

partial removal as being tried multiple times we keep falling back into full subsidy.
Subsidy operates like cancer, we just have to cut subsidy off

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely down without subsidy.

Ask yourself if diesel has ever come down below 600 naira since it was deregulated

Biodun556:


Everybody will have to adjust to new price

No explain how the market will react when theres increase in cost of crude oil per barrel? You ppl allow yourself to be deceived and u end up looking for igbos to blame.

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

They play, the price will go up because demand will be higher than supply and also the people selling petrol will wants to hoard it to create scarcity

Blaze14k:


Some of you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

Unlike before, we now have a competitive market(Economics) where there is free entry and exit. Even you can apply for a license to refine crude and sell to the public or import. Naturally, people will buy from vendors with the cheapest options.

Biodun556:


But Buhari was borrowing to subsidized fuel, is that a good idea?

Why haven't they repaired the refineries we have instead of borrowing to pay subsidy. The buhari u are talking of came to power for his own personal reason. He clearly avoided all the problems we had for the next administration. So dont ever use buhari as a reference.

jullary:
Good. Let the competition start.
It should be a competitive market, las las the price will definitely comes down without subsidy.

Competition has its limits when it comes to buying and selling. There is a minimum. Crude oil price is what decides the minimum.

Even Dangote will buy at international crude oil rate

KingKO22:
Good

At worst petrol should not be more than 450 in Nigeria

No matter how bad international market is

Nigerian refinery will still buy the crude oil at international rate. This means price should be around 500 minimum

Blaze14k:


You are clearly stupid for wasting your time to drop this analysis with out proving a back up plan to boost the economic situation in nigeria. How many millions of nigerians can afford a high pay per day without doing any business?

There is no fucking back up plan you slowpoke! The only back up plan is to stop living a life of fantasy, indulgence and start living a life of realities. If you have borrowed to eat and borrowed to feed your neighbor for years. The day there is no more money to borrow to finance your illusion, you are forced to face your realities….that day has come! Backup plan ko, back up plan ni , palliative this , palliative that, that is the illusion that has brought us to where we are.

There is no money for subsidy, there is no money for palliative. Get used to the reality. It’s onlY in a poor country of poor men with poor mimdsets that poor men will be driving gas guzzling 4wd trucks. Serious countries drive economy cars conscious of fuel economy. Now all of us will have to face the realities of the illusion and delusion…there is no more money!!!!

Now Nigerians will understand that the same tank of petrol can take you twice the distance if we stop speeding accelataring and braking anyhow. It’s only in Nigeria that people, buy cars without any knowledge of the fuel consumption, all that will change now.

If you like, buy petrol @ 500 or 700, if you like you don’t. If you like you go on strike when you don’t get paid you will come back and buy petrol At the market rate. If you like buy Toyota Tundra or 5 liter Mercedes’, if you like downgrade to Corolla. If you like buy petrol at 500 and burn all the petrol speeding, if you like you go slowly and extend your range. Nobody will tell Nigerians before they borrow themselves a brain. If you like you carpool, if you like buy bicycle. , if you like make the roads your second home. If you like work from home and stop unnecessary journies If you like don’t go to work, but know you won’t eat.

Blaze14k:


Some of you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

You no wise Oblivious Obidient, stop blaming Tinubu for a law you passed in August 2021?

Femmyfamous4u:


Unlike before, we now have a competitive market(Economics) where there is free entry and exit. Even you can apply for a license to refine crude and sell to the public or import. Naturally, people will buy from vendors with the cheapest options.

What happens to the products that contain sulphur i hope u know it is the major problem we encounter in our vehicles. And you know our agencies are very weak in terms regulations.

Sole importer? They shouldn't be again.. Enough of NNPC wahala in this country

Blaze14k:


Some of you who support tinubu are so unintelligent. What this implies is the importers will determine the price of the market including dangotes refinery

And then what, why you no go Europe go import the wan u wan use, let it be a free market shey when dem remove subsidy for diesel people die noo.... so it comes to Petrol now everybody they cry

casualobserver:


There is no fucking back up plan you slowpoke! The only back up plan is to stop living a life of fantasy, indulgence and start living a life of realities. If you have borrowed to eat and borrowed to feed your neighbor for years. The day there is no more money to borrow to finance your illusion, you are forced to face your realities….that day has come! Backup plan ko, back up plan ni , palliative this , palliative that, that is the illusion that has brought us to where we are.

There is no money for subsidy, there is no money for palliative. Get used to the reality. It’s onlY in a poor country of poor men with poor mimdsets that poor men will be driving gas guzzling 4wd trucks. Serious countries drive economy cars conscious of fuel economy. Now all of us will have to face the realities of the illusion and delusion…there is no more money!!!!

Now Nigerians will understand that the same tank of petrol can take you twice the distance if we stop speeding accelataring and braking anyhow. It’s only in Nigeria that people, buy cars without any knowledge of the fuel consumption, all that will change now.

After all your rant yet people outside this country say nigerians are the most hard working people you will ever find. No wonder black man hate themselves. This heartless fellow wants us to wake up to reality when so many people in northeastern nigeria are overwhelmingly incapacitated with abject deficiency in humanitarian aid. I dont blame u because u r a tribal bigot. You think i and my family are suffering? Think again bro

LagosBoi2:
Majority agrees that subsidy regime needs to go but my concern here is that, if they say refining locally will not bring down the price of petrol significantly i.e dangote and getting our local refineries to work, if other companies starts importing too taking away NNPC's market monopoly, that too will not bring it down significantly, what then will bring down the price of petrol significantly? Already Buhari has borrowed heaven and earth. Buhari has truly set traps for Tinubu. He will have to prove his brilliance once again in this difficult task ahead. May God help Him

only An appreciated naira value will bring it down...


The crude which is still owned by Nigeria is sold to the refiners at the international price fixed by OPEC. in dollars, yet the people Nigeria are not allowed to buy the refined fuel in dollars but Naira, hence if the value of the naira against the dollar falls, den the refined fuel bought by the ppl will b expensive.....

Blaze14k:


After all your rant yet people outside this country say nigerians are the most hard working people you will ever find. No wonder black man hate themselves. This heartless fellow wants us to wake up to reality when so many people in northeastern nigeria are overwhelmingly incapacitated with abject deficiency in humanitarian aid. I dont blame u because u r a tribal bigot. You think i and my family are suffering? Think again bro

Oga if you have N500-700, or whatever the rate maybe to buy a liter of petrol, they will sell to you, if you don’t have, I suggest you sell your car and buy a bicycle. Those are your 2 options, everything else is just noise.

Venezuela was once one of the worlds largest producers of Oil, till today it has one of the cheapest pump prices for petrol due to subsidies. Today it is officially the most miserable country in the world. That was where Nigeria was heading.

..NNPC should not be the sole importer. License should be open to other willing players.
..Government must still maintain regulation in quality control to ensure that adulterated fuel is not brought in by importers in the bid to beat competition by cutting cost and increase margins.
..For a level playing field, CBN MUST NOT INTERVENE FOR ANY IMPORTER INCLUDING NNPC. Importers should source for FX wherever they can find and at whatever rate that will sustain their margins.

Cheeryfeet:
You don't know the forces of demand and supply, nor the law of competition. They can only determine the prices to the extent they monopolize the market, but as many that can get into the business, the prices will definitely crash. Its a given. Remember what happened when gsm came in newly. Mtn and Econet monopolized the market but immediately glo came in, the price crashed

You know the funny thing is you know all these things and Jonathan wanted to take off the same man who opposed it is now the one taking it off. Can you see how hypocritical u sound.

Ok lets see from your analysis what will happen next since u have it all figured out

casualobserver:


Oga if you have N500-700, or whatever the rate maybe to buy a liter of petrol, they will sell to you, if you don’t have, I suggest you sell your car and buy a bicycle. Those are your 2 options, everything else is just noise.

Exactly how a wicked fellow should sound

Islie:
"We told the NNPC to recover its costs because they know how much it cost them to import the product and sell it."



https://www.premiumtimesng.com/news/headlines/602193-we-wont-fix-petrol-prices-again-nigerian-agency.html

No work,then close down.

Blaze14k:


Exactly how a wicked fellow should sound

What has the kindness of subsidy done for you? How many roads, rail, hospitals, good schools, electricity generation plants has it bought you. The $80b that was spent on subsidy in the last 8 years where is it he benefit so you can show me? You can’t, because it has all gone up in smoke through the back of exhaust pipes.

$80b in the last 8 years. Nothing to show, nothing to bequeath to the next generation. Yet Lagos Ibadan express way, Lagos - Ibadan rail, 2nd Niger bridge, will be there for generations and together cost less than $4b. And yet you sit there and type that we should continue to borrow to burn $8b a year that will have nothing to show after a year talk less of passing on to the next generation.

And it is me you call wicked? You are complete and utter fool!!! The poverty that you are wishing on Nigerians with subsidy may it never leave your generations!!! Idiot!!!!!

casualobserver:


What has the kindness of subsidy done for you? How many roads, rail, hospitals, good schools, electricity generation plants has it bought you. The $80b that was spent on subsidy in the last 8 years where is it he benefit so you can show me? You can’t, because it has all gone up in smoke through the back of exhaust pipes.

$80b in the last 8 years. Nothing to show, nothing to bequeath to the next generation. Yet Lagos Ibadan express way, Lagos - Ibadan rail, 2nd Niger bridge, will be there for generations and together cost less than $4b. And yet you sit there and type that we should continue to borrow to burn $8b a year that will have nothing to show after a year talk less of passing on to the next generation.

And it is me you call wicked? You are complete and utter fool!!! The poverty that you are wishing on Nigerians with subsidy may it never leave your generations!!! Idiot!!!!!

I cant have any reasonable convo with you cos u are just ranting. Medicine after death

Blaze14k:


I cant have any reasonable convo with you cos u are just ranting. Medicine after death

I said list the benefits of $80b on subsidy in 8 years. Point to the lasting legacies of subsidy.

The poverty that you wish for Nigerians with this subsidy will befall you and your generations. Say Amen since subsidy is so great!

It cost that much to import refined crude and NNPC is still telling us refining locally won't reduce the price?
What kind of scam is this even after deregulation?

casualobserver:


I said list the benefits of $80b on subsidy in 8 years. Point to the lasting legacies of subsidy.

The poverty that you wish for Nigerians with this subsidy will befall you and your generations. Say Amen since subsidy is so great!

This question u asked.. first of all the 80 billion dollas you mentions is way out of proportion. How much is our external debt cos the figures for subsidy subsidy is around 11-13 trillion naira.

Is there anything like market forces in Nigeria. FOI, Market unions decide not minding the 'market forces'. Na God hand we dey.

And wen more and more people get into it and form association with a common interest ......please tell me wat will bring about reduction in the price of petrol

Cheeryfeet:
I think this is good, once there is adequate competition, the prices will definitely drop as more and more people get into it.