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Nairaland Forum / Nairaland / General / Politics / NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports (21929 Views)
Seven States Discontinue Suit Against Tinubu's Electoral Victory / Naira Swap Targets Cash Hoarders Not Businesses, Says Buhari / FG Spent N731 Billion To Subsidise Inflated Petrol Imports - World Bank (2) (3) (4)
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Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BJanta: 12:17pm On Jun 05, 2023 |
Everlastng: Put what in place for how long ? |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Inosky: 12:18pm On Jun 05, 2023 |
NNPC, ministry of finance and scam on subsidy are like 5&6. You swap unrefined patrol with refined one because you said you don't have cash to pay in exchange and you still pay trillions of Naira on subsidy according to ministry of finance...are you not big thïeves? And you still allow patrol be smuggled across borders with other countries to sell and make more gains. Deceive who you can. SCAM. THAT'S WHY PETER OBI SAID SUBSIDY IS AN ORGANISED CRIME. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by grandstar(m): 12:19pm On Jun 05, 2023 |
seunmsg: The official rate of 461. But the parallel rate of 630 is good. Apparently, it seems the CBN can fulfill all orders at that rate. It can defend that rate. What is needed now is for the black market rate to go up in value. This can be achieves by resuming the sale of dollars to the BDC. The dollars will eventual flood the Black market, bringing the rate down to like 630. Ending the petrol subsidy will free up $10bn yearly that would have been wasted on it, increasing dollar supply. In addition, a market determined exchange rate encourages forex inflows, filling the foreign reserves. 1 Like |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by adekolaelect(m): 12:22pm On Jun 05, 2023 |
alimiadedayo1:there is nothing bad in what he said. You can't expect everyone to join you in bitterness and negativity. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by almarthins(m): 12:23pm On Jun 05, 2023 |
Islie: Statement from the most dangerous specie(fani kuku dedein the Nigerian politician jungle. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by wirinet(m): 12:25pm On Jun 05, 2023 |
SalamRushdie:First of all Europe does not produce crude oil, all crude for their refineries are imported at international price. Secondly, there is heavy tax on refined petroleum products in Europe. Thirdly, demand of petrol is very low in Europe when compared to Nigeria. They have mass transportation system. Many of their cars are electric. Many Europeans have no business with petrol. Fourthly, they have an efficient energy policy with good energy mix of which energy from petrol is very minimal. They have solar, Gas, nuclear and hydro as significant portion of their energy mix. And lastly and most importantly, there is little or no corruption in their system. They don't have oil thieves, subsidy thieves and thieving political elite that is above the law. 1 Like |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Dicado: 12:26pm On Jun 05, 2023 |
wirinet:Nna, you talk sense o... Ormo! You just tear my eyes now now! |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by wirinet(m): 12:27pm On Jun 05, 2023 |
gabbytabby: How much does the swap cover? |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BJanta: 12:30pm On Jun 05, 2023 |
alimiadedayo1: Stop insulting people who don't share the same opinions with you. You sound more illiterate because it's the illiterate mind that always finds it difficult to respect and accommodate the views of others as a result of their limited and injured capacity to grasp any idea that is not from their tiny minds. People who needlessly insult at every opportunity are those who are not sufficiently intelligent or sharp to return with a witty and wise response. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by policy12: 12:33pm On Jun 05, 2023 |
Nasige: If we are to know all d dirty stuff been carry out by the leaders both past and present u will agree with me this country foundation is a mess 1 Like |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BJanta: 12:35pm On Jun 05, 2023 |
CodeTemplar: Everybody in government knows they do , but when everybody in government gets his own slice of the loot ,everybody in government cannot say anything because everybody in government is a rogue. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by SalamRushdie: 12:35pm On Jun 05, 2023 |
wirinet: First you didn't get the angle I was driving at . Secondly there are many countries in Europe that consume more petroleum than Nigeria https://www.citypopulation.de/en/world/bymap/oilconsumption/ |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Bluntemperor: 12:36pm On Jun 05, 2023 |
seunmsg: You got a point but the present Management should just go! Nigerians have suffered enough, they don't have what it takes to make it better, afterall,they have been there a long time and Nigerians have been suffering for lack of Kerosene, PMS, Diesels,etc. The NNPC,like DISCOS, Customs, the NPA,can't give what they don't have! They are very Corrupt! •President Tinubu should try NEW Hands- who should be given a Target of 2- yrs and failure,they should go! •Imagine that DISCOS are still switching lights as Off and On everyday,with many Area in total darkness at Nights and these Organisations, think they are - helping Nigerians! The failures of these MIDAS is why Nigerian Youths are not happy,as there is no Jobs and no Future guaranteed! •NNPC - should just Published their Accounts for all to see and Independent -Auditors-should be allowed to see their Accounts and Budgets for the past 5- yrs! Nonsensical People Everywhere! |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BJanta: 12:38pm On Jun 05, 2023 |
Reinaldo: You're saying exactly the same thing cos the rightful winner has been sworn in the rightful manner and is rightfully ruling on. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BJanta: 12:40pm On Jun 05, 2023 |
bluefilm: The entire people of Nigeria except the the negligible dot nation. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by jidemojola(m): 12:41pm On Jun 05, 2023 |
garriAndsugar: Because there is no provision for subsidy payment in the 2023 budget prepared by the previous administration. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by BreconHills(m): 12:44pm On Jun 05, 2023 |
SalamRushdie: Hindsight is always 20:20 The question is not what per second sounds like today. The real question is what it looked like in 2002/3. Also it really doesn't matter if it was being done in europe. For the Nigerian customers what happens is what it did in their market. Let's not diminish innovation as if it mean being first. It can include the ability to deploy it successful in new environments. What is important is not the view of the statistician ut the view of the consumer.
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Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by wirinet(m): 12:45pm On Jun 05, 2023 |
jidemojola:What then happens to the subsidy payments budgeted for the month of June? |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by kingjoe(m): 12:47pm On Jun 05, 2023 |
SalamRushdie:just imagine.just imagine just imagine.we have been scammed. There is nothing like subsidy.chai cba 1 Like |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by kingjoe(m): 12:50pm On Jun 05, 2023 |
BreconHills:did you read what you typed at all. We have been exchanging crude for petrol all these while and some people are collecting 400 billion as subsidy. We are only paying for transportation.and you are saying they are correct.chai chai chai |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by wirinet(m): 12:52pm On Jun 05, 2023 |
SalamRushdie: I was talking about petrol and your switched over to petroleum? Are we discussing subsidy on petrol or subsidy on petroleum. Petroleum includes Kerosene, diesel, Aviation fuel, gas, LPFO, HPFO, petroleum jelly, bitumen, condensates, etc. Of course a more industrialised nation will use more petroleum products to run their industries. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by ubox: 12:54pm On Jun 05, 2023 |
SoloCraft306:Now everyone looks forward to the next release by NNPCL |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Nfora: 12:56pm On Jun 05, 2023 |
obinnanelson4: Me too just de wonder oo So where is the N6tr o called subsidy money coming from or going into? And how come FG is owing NNPC N2.8trillion subsidy money? Government magic |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Proudlyngwa(m): 12:57pm On Jun 05, 2023 |
SalamRushdie: When other alternatives come into play, supply will be excess and price will drop. Forget OPEC, cost of drilling varies from location to location, not everyone is an OPEC member Cost of refining and transportation also varies. And if Nigerian investors were wise, they will invest in hybrid carburetor. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Tayomi37(m): 12:58pm On Jun 05, 2023 |
obinnanelson4: Bless you richly. Immediately I saw the headline I said to my partner in the office that we've been scammed all these while. He just shouted Mogbe, moku modaran You can see that we've scammed all these while |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by gabbytabby: 12:58pm On Jun 05, 2023 |
Its based on the contract they have with the refinery. Do your research if you are really interested in the detail. wirinet: |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by Hespee93: 12:59pm On Jun 05, 2023 |
Sisora: You people have resume this scamming again. Building a funtional website with back end developmet, not eve web designing for 10k. Be deceiving yourself. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by waveman2: 1:02pm On Jun 05, 2023 |
Please why haven,t the price come down for Diesel since it has been deregulated.All these economic experts, do you know what is call union(IPMAN) they will determine price from now. seunmsg: |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by kokomilala(m): 1:06pm On Jun 05, 2023 |
@garriAndsugar, man, come on! You and the people who shared and liked your response are being disingenuous. Tinubu didn't not end the subsidy regime. Buhari technically ended it by paying up to June. Tinubu only announced its demise. I think it was Shehu Sani who had opined before May 29 that Buhari had set traps for Tinubu. Buhari could have handled the issue in such a way that Nigeria would be exiting the subsidy regime by the time Dangote refinery starts refining, which is August. So, in effect, Buhari could have paid up to the end of July. But no, he decided to pass the problem to the next government. |
Re: NNPC To Discontinue Crude Swap, Targets Cash Payments For Petrol Imports by wirinet(m): 1:06pm On Jun 05, 2023 |
gabbytabby: You made a claim that the swap agreement does not cover the cost of the petrol, meaning that is the justification for paying N3 trillion in subsidies for petrol alone. I asked you to tell me how much the swap agreement covers and you are asking me to do research. If you know why not just give us the figures. |
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