No Fuel Subsidy Payments Have Been Made To Marketers Since 2016

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No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited - Politics (7) - Nairaland

Nairaland Forum / Nairaland / General / Politics / No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited (34677 Views)

Senate Begins Probe Into Oil Subsidy Payments In Buhari’s Government / Subsidy Payments Gulped ₦‎1.82 Trillion In Five Months, Arrears Hit ₦‎3.73trn / Atiku Reacts As Buhari Unveils NNPC Limited (2) (3) (4)

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Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by stanech: 7:41am On Jul 06, 2023

pedel:
We should be refining our own crude.
We are probably the only top oil producing nation still importing refined petroleum products.
It should be made unconstitutional for us to import petrol.
We have the worst set of people among as our leaders.

Nigeria is wealthy, infact one of the richest countries. But there's something wrong with the leadership of this country. I am suspecting some foreign powers are trying really hard to hold us down.. We need God at this point.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by rolams(m): 7:42am On Jul 06, 2023

Where d money kon go?

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by stanech: 7:45am On Jul 06, 2023

We own crude oil but we can't refine it ourselves so we sell to another country that refines it and we buy the finished product at a higher price and then subsidize the finished product again and sell to our people . We are seriously a sick country.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Opiop: 7:52am On Jul 06, 2023

IVORY2009:

Where are the people you have transcated business with here in nairaland, if you are not a scammer why can't you go and open a thread and put your details there? Also why are you not in the thread where all Paypal and other cryptocurrencies meet and do business here in Nairaland, why do you keep spamming and changing nairaland handle, why do you choose to do business with an American WhatsApp number, when you are in Nigeria, as per escrow, yes I know about it, the question is who is holding the monies? Until you change from scamming, I will continue to pursue you.

Consider me responding to u as an achievement for u...

First, you are acting like a child, probably a teenager. Second, you are demented to tell me how to run my business. Third, you're obviously jobless. Nonetheless i av ur other monika. Your trolling does not affect me, it only annoys me. I hate seeing stupid people mention me. I'm too big for u.

For ur own good, stop mentioning me. I warn u nd God knows that I warn u. Heaven knows that i warn u. Am not taking this joke the way u are taking it. Don't think u are invincible... I can find u, either through juju or through technology. I av ur phone number and the email u use for nairaland already. People dey die for wetin nor reach like this ...

Let me add one LAST PLEA, even if you troll me, don't make me catch u... I hate jobless people and ur mention is reminding me of u

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by IVORY2009(m): 7:57am On Jul 06, 2023

Opiop:
Consider me responding to u as an achievement for u...

First, you are acting like a child, probably a teenager. Second, you are demented to tell me how to run my business. Third, you're obviously jobless. Nonetheless i av ur other monika. Your trolling does not affect me, it only annoys me. I hate seeing stupid people mention me. I'm too big for u.

For ur own good, stop mentioning me. I warn u nd God knows that I warn u. Heaven knows that i warn u. Am not taking this joke the way u are taking it. Don't think u are invincible... I can find u, either through juju or through technology. I av ur phone number and the email u use for nairaland already. People dey die for wetin nor reach like this ...

Let me add one LAST PLEA, even if you troll me, don't make me catch u... I hate jobless people and ur mention is reminding me of u

You Darkweb Paypal scammer, if you annoy me now, I will release your pictures to our Interpol site and quote your writeup here on nairaland as reference point, your pictures are all over the internet.

https://www.nairaland.com/7753807/darkweb-see-how-porn-links

Darkweb scammer, seun do something, yahoo boys have taken over nairaland, hiding under sales of Paypal from Darkweb

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by NeloNelo: 8:06am On Jul 06, 2023

nairalanda1:

Am not arguing anything. I am just showing you how the system works. (plus government was still paying marketers claims from before 2016 up till 2019)

You see, I don't like subsides because they encourage looting corruption and loss of refining capacity and wuru wuru. Now, we don't have the same issues in the hospitality secotor, telecoms sector, even food sector, because all them companies are allowed to sell at the price they want to sell.

So, all you have mentioned is as a result of subsidy. To me, that is why subsidy cannot work. People love money and corruption. Which is why since 2012, I have wanted it gone.

Whatever you think about my ideas, am glad that thing is gone...and I would say the same thing if Obi or Atiku was in charge and were removing subsidy. This is not about politics, it is about our fiscal situation.

Seen this?

Telecoms investment stock reaches $75.6 billion as the sector contributes N10.126 trillion to GDP

https://thegisthouse.com/telecoms-investment-stock-reaches-75-6-billion-as-the-sector-contributes-n10-126-trillion-to-gdp/

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Opiop: 8:09am On Jul 06, 2023

IVORY2009:

You Darkweb Paypal scammer, if you annoy me now, I will release your pictures to our Interpol site and quote your writeup here on nairaland as reference point, your pictures are all over the internet.

omg, which kin small pikin I dey follow argue ?

Boy, stop engaging me. Am a matured guy, i don't have time for ur play. I want u to take my advise very seriously, stop mentioning me. I'm a married man nd am obviously feeling stupid engaging u.

I Don't have time for this. I use bots to Post here and only get notified when someone mention. I don't have to disable notification for u.

Have we done business before ? NO

do you know me ? NO

You don't know what am capable of. Respect my internet space. I don't like you, you don't av to like me. Just don't engage me. for the last time... U dont know wat am capable of.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by PassingShot(m): 8:10am On Jul 06, 2023

nairalanda1:
Since 2016, NNPC has been selling fuel to the market at a price lower than that of the cost of bringing it into the country.

The market then sells it at a price above the NNPC sale price, which is fixed by government

Government then pays NNPC to compensate it for the losses it sustains selling fuel to market below import cost/landing cost

That is what Mele Kyari means.

Modifed

By Jupiter's beard, Nigerians are deliberately dense, or just misunderstanding

I am not defending Buhari or Tinubu or exusing anything....I am just telling you how the system worked from 2016 onward people.

Seriously it is not that hard

It does not make Buhari a wise man...infact Buhari was doing the wrong thing by keeping subsidy in the first place, which is why we have issues now. And it was Tinubu who put him there.

If you have nothing sensible to say, don't quote me, keep the eff off.

Despite the fact that you are the only one who interpreted the report correctly, your post got the least "likes" while those with poor grasp and understanding f the issue were "liked" by the largely ignorant, semi-literate people.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 8:14am On Jul 06, 2023

NeloNelo:

Seen this?

Telecoms investment stock reaches $75.6 billion as the sector contributes N10.126 trillion to GDP

https://thegisthouse.com/telecoms-investment-stock-reaches-75-6-billion-as-the-sector-contributes-n10-126-trillion-to-gdp/

The big difference is that telecoms are not subsidised or subject to price controls by government

Therefore, they attract investment.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Umadam: 8:15am On Jul 06, 2023

One cannot understand this country for once.
They haven't been remitting fuel subsidies and we have been enjoying the subsidy reduction of oil price..
So where is this increment coming from??

quote author=basilo102 post=124226194]Which means they shared the subsidy money. Which means actual price without subsidy should be 180. Which means Tinubu only increased the price to recoup his election bribery[/quote]

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 8:15am On Jul 06, 2023

ehikwe22:

The compensation NNPC received from government for selling below the cost price, what is it called?

Underrecovery...a big part of the subsidy cost (most of the rest goes to transporters, or was going to transporters to keep prices of fuel uniform across the country during the days of subsidy).

All that has ended now.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 8:17am On Jul 06, 2023

PassingShot:

Despite the fact that you are the only one who interpreted the report correctly, your post got the least "likes" while those with poor grasp and understanding f the issue were "liked" by the largely ignorant, semi-literate people.

They are not illiterate, just angry and tired. And lord knows I don't blame them, because in my heart of hearts, I agree there has to be some form of subsidy.

But the fact that it is costing us too too much is a problem that cannot be dealt with. Hence, subsidy removal makes sense.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by IVORY2009(m): 8:24am On Jul 06, 2023

Opiop:
omg, which kin small pikin I dey follow argue ?

Boy, stop engaging me. Am a matured guy, i don't have time for ur play. I want u to take my advise very seriously, stop mentioning me. I'm a married man nd am obviously feeling stupid engaging u.

I Don't have time for this. I use bots to Post here and only get notified when someone mention. I don't have to disable notification for u.

Have we done business before ? NO

do you know me ? NO

You don't know what am capable of. Respect my internet space. I don't like you, you don't av to like me. Just don't engage me. for the last time... U dont know wat am capable of.

https://www.nairaland.com/7750322/enter-darkweb-journey-ur-favorite

See your thread on nairaland, you used your hand to open it yourself, wrote that you usually buy stolen Paypal from Darkweb, now your pictures are all over the internet, interpol or Efcc Nigeria will come for you soon, you are playing with 🔥

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Opiop: 8:34am On Jul 06, 2023

IVORY2009:

https://www.nairaland.com/7750322/enter-darkweb-journey-ur-favorite

See your thread on nairaland, you used your hand to open it yourself, wrote that you usually buy stolen Paypal from Darkweb, now your pictures are all over the internet, interpol or Efcc Nigeria will come for you soon, you are playing with 🔥

I can see you have been trolling people since 2015...lol.

Dat guy is cool though. Since 2015 nd u are still alive. I would have left everything nd find u...

But to track u down to Lagos or Bayelsa or anywhere u are right now would cost me penny. You're not worth a dime. I will do it but u will not know when nd wat hit u. Even if it takes months, I will find u.

I won't take u serious again, now that I know u are a psycho following people since 2015... Using thesame format... Hahahah.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by IVORY2009(m): 8:37am On Jul 06, 2023

Opiop:
I can see you have been trolling people since 2015...lol.

Dat guy is cool though. Since 2015 nd u are still alive. I would have left everything nd find u...

But to track u down to Lagos or Bayelsa or anywhere u are right now would cost me penny. You're not worth a dime. I will do it but u will not know when nd wat hit u. Even if it takes months, I will find u.

I won't take u serious again, now that I know u are a psycho following people since 2015... Using thesame format... Hahahah.

I put it to you, you are a Paypal scammer, you operate in the Darkweb to steal innocent people's monies, and I will put your details on our site, and also forward your pictures to the economic and financial crime commission.

https://www.nairaland.com/7750322/enter-darkweb-journey-ur-favorite

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Opiop: 8:39am On Jul 06, 2023

IVORY2009:

I put it to you, you are a Paypal scammer, you operate in the Darkweb to steal innocent people's monies, and I will put your details on our site, and also forward your pictures to the economic and financial crime commission.

https://www.nairaland.com/7750322/enter-darkweb-journey-ur-favorite

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Pacesetter123(m): 8:58am On Jul 06, 2023

nairalanda1:
Since 2016, NNPC has been selling fuel to the market at a price lower than that of the cost of bringing it into the country.

The market then sells it at a price above the NNPC sale price, which is fixed by government

Government then pays NNPC to compensate it for the losses it sustains selling fuel to market below import cost/landing cost

That is what Mele Kyari means.

Modifed

By Jupiter's beard, Nigerians are deliberately dense, or just misunderstanding

I am not defending Buhari or Tinubu or exusing anything....I am just telling you how the system worked from 2016 onward people.

Seriously it is not that hard

It does not make Buhari a wise man...infact Buhari was doing the wrong thing by keeping subsidy in the first place, which is why we have issues now. And it was Tinubu who put him there.

If you have nothing sensible to say, don't quote me, keep the eff off.

Yes, you are correct.Thats what he meant.
But did you also read where he said that since FG have not been paying the subsidies in cash for the past 8 years,that he/NNPC have been using crude oil for settlement of the subsidies?

Then how come he is now talking about FG owing him and his cronies 2 point something trillion?
Where are the billions of barrels of crude oil he has been using for the settlement?

Mele Kyari is a fraudster!

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Believeintruth: 9:03am On Jul 06, 2023

Asswipemod:

Ok bozo. You made no point. But the fact remains that you're the grand wizard of bozos.

eya at least you are the progenitor of Bozos......take a good at yourself before calling someone names next time.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by IbeOkehie: 10:52am On Jul 06, 2023

nairalanda1:

In 2016, Buhari made NNPC the sole importer, which means NNPC imported fuel at price X and sold at a lowe price Y

The difference between price X and Y was paid as subsidy

Add monies paid to transporters to keep the cost of fuel the same across the country

There is your subsidy cost.

Oga, I used to respect you. Now you have joined the mockers. I am not defending any corruption. I am giving an explanation.

Sigh.

Thanks for the simple explanation, which is correct.

The real error made by the Nigerian people is that they insisted that fuel subsidy be retained in 2012. They were warned. The pain wouldn't have been this bad because there was still some solvency in the system.

The government is now bankrupted by 10 years of idiocy. The government has been printing and borrowing money to pay for fuel subsidy....and university subsidy and forex subsidy and pilgrimage subsidy and NIPOST subsidy and electricity subsidy and this is the logical outcome.

No matter what, Nigeria is still a better place to live than the UK and Canada.

It is well 😊

1 Like 1 Share

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by IbeOkehie: 11:11am On Jul 06, 2023

nairalanda1:

It hurts me that people don't get what I am saying. At all.

You cannot put price controls on anything and expect smooth running. All the communist countries tried it, it failed spectacularly. People like to make money, because things cost money.

And once there is a subsidy, man, there is corruptiion, stealing and evil following.

Please don't be hurt. You have to realize that decades of poverty, suffering and desperation have destroyed the brains of the Nigerian populace.

I went through that hurt phase. I've lost so many friends because of their SOCIALIST outlook on life. A belief that they have the right to unearned privilages, goods and services. They keep voting for politicians who promise these goodies without ever thinking of the cost and the corruption engendered.

But anyway Nigeria is still a better place to live than the UK so you have to understand why Nigerians insist on maintaining these subsidy policies that have made their country a paradise 😉

Good Luck to Nigeria.

1 Like 1 Share

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Electorate: 11:17am On Jul 06, 2023

nairalandkachy1:

https://nairametrics.com/2023/07/05/no-fuel-subsidy-payments-have-been-made-to-marketers-since-2016-nnpc-limited/

Settlement
Before – NNPC Limited pays suppliers either cash or delivers the equal value of crude oil volumes as settlement

But your report says no settlement since 2016.

What you should know
Mele Kyari had stated earlier that the fuel subsidy regime only benefitted about 10% to 15% of Nigerians because the regime was mainly helpful to those who belong to the elite or upper middle class. According to him, those who benefitted from the fuel subsidy regime were the upper class in society because they have a wide range of vehicles that are not used for mass transportation

You must be mad, there are millions of commercial vehicles out there who benefited from the subsidy, thousands of households and small businesses who benefited from the subsidy and can no longer operate because of the subsidy removal as against the handful of elite this idiots are using to justify the subsidy removal.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 12:19pm On Jul 06, 2023

Believeintruth:

A simple question I want to ask you is how dis they determine the crude oil equivalent worth of refined products? What was the yard stick to measure it? And why is it so difficult for Mele Kyari to actually tell Nigerians in plain English but rather he is skirting round the issue.

If a crude oil is sold at $100/barrel then Nigeria can negotiate a swap of let say 60m barrel of crude oil for 150m barrel of refined Petroleum Products of equivalent monetary value of the crude oil. Market price will determine how it should be swapped, I'm not defending the figure but expatiating how it was done.

It is the media analysis or reportage that you read but u need to watch the interview Mele Kyari tendered instead of reading misleading headlines. Media houses are just reporting things to mislead public or just to generate traffic!

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 12:22pm On Jul 06, 2023

advanceDNA:

Country no good....u are accusing the citizens of hate...

No security...people are dying....u are accusing us of hate...

Minimum wage less than 30$ many can no longer afford fuel and food.... yet all u do is accuse the citizen of hate....

The goverment can do better than all these nonsense......and ur asslickińg is irritating and annoying ..always accusing masses that just want better for their country

Who are the Govt? Aren't we?
We voted them, we are workers in different capacity of govt, our children, brothers, sisters, Nigerians are the ones threatening us with the insecurity all over then who should we blame?
We all have hands in what is happening and we need to do a lot of things to change some things to positive rather than always complaining!

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 12:26pm On Jul 06, 2023

misano:

So from now the FG will start paying NNPCL, right? Okay thanks for the explanation.

Yes, FG must pay back the debt because NNPCL is no longer what it used to be, it is now a commercial entity under Govt.
The easiest thing FG can do is to negotiate profits remittances of NNPCL to FG so that NNPCL can withhold a significant portion of what they should be remitting to FG over a period of time untill FG pays back the debt!

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 12:26pm On Jul 06, 2023

misano:

So who will pay that 2.8 trillion to NNPCL?

FG, is left for them to find the right formula!

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Ellasure: 12:37pm On Jul 06, 2023

nairalandkachy1:

https://nairametrics.com/2023/07/05/no-fuel-subsidy-payments-have-been-made-to-marketers-since-2016-nnpc-limited/

you have successfully confused yourself by your after and before remarks.

a thief will always be a thief.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Ellasure: 12:42pm On Jul 06, 2023

ArewaNorth:

If a crude oil is sold at $100/barrel then Nigeria can negotiate a swap of let say 60m barrel of crude oil for 150m barrel of refined Petroleum Products of equivalent monetary value of the crude oil. Market price will determine how it should be swapped, I'm not defending the figure but expatiating how it was done.

It is the media analysis or reportage that you read but u need to watch the interview Mele Kyari tendered instead of reading misleading headlines. Media houses are just reporting things to mislead public or just to generate traffic!

arewa north, why this name? are you representing the whole of the north or a section for business of the north?

how much of your business benefits is beneficial to the north itself (if there is anything like that) and the Nigerian populace in general.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Ellasure: 12:55pm On Jul 06, 2023

since I opened this tread and read the evil write up my stomach is turning.

can PBAT sack the head of NNPC right now and set up a team to investigate or review the operations of this fraudulent report and company. I have served in a very good company for some years and I never see it corporation reports of this kind.

let PBAT be aware that people of Nigeria will not be kind to him in history if he fail to ensure that the current management of NNPC provide the Nigerian people a report on their performance and failures to remit money to the federation account committee.

there has always been fraudulent practices in Nigeria before but giving a free passage to the Melee Kyari group will be the kernel that break bone. every average educated person in Nigeria is following and awaiting the Nigerian president actions on NNPC. his delays so far is tolerable but time is running.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by advanceDNA: 1:05pm On Jul 06, 2023

ArewaNorth:

Who are the Govt? Aren't we?
We voted them, we are workers in different capacity of govt, our children, brothers, sisters, Nigerians are the ones threatening us with the insecurity all over then who should we blame?
We all have hands in what is happening and we need to do a lot of things to change some things to positive rather than always complaining!

Oh please stop....We are not goverment.... we ddnt vote them...there are ruling class in this nation forcefully putting themselves into power using the inec and corrupt justice system to get away with everything..
...

the system doesnt favor diversity.... common man cant contest for public office....u need hundreds of millions...doesnt that tell u that arrangement will only keep some set of rich pple rulling.........the system is rigged agaisnt us...and u are saying we are goverment .... dont bring theory here.. we are not goverment.....

Its annoying ....stop calling it hate whem pple are asking for better governance. Even if they voted them in

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by swaggerjack: 1:07pm On Jul 06, 2023

Angelfrost:

This one is speaking grammar!!!

You want thieves to sack thieves, then appoint more suitable thieves...

...And you want a thorough forensic audit to be done by whom?! Angel Gabriel??!

Reality Check sir....! A nation being led by crooks will never become developed or better for the citizens!

This is not Pessimism!

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Asswipemod: 1:58pm On Jul 06, 2023

Believeintruth:

eya at least you are the progenitor of Bozos......take a good at yourself before calling someone names next time.

I should take a good at my self.😆😆😆😆 It is well.

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Believeintruth: 2:47pm On Jul 06, 2023

Asswipemod:

I should take a good at my self.😆😆😆😆 It is well.

yes ooo it is well progenitor of Bozos....Shior

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