He told you he will slow down the economy so why u begging him. From my point of view I think he is on track. I believe he should increase the tax so many people will stop going to work. Maybe by that time agbado people will have sense

Let them keep following NNPCL like mum.u till they all fold up.. "market forces'' but the barawo pple are hiking price of PMS anyhow without taking current economic situation and living standards in the country into consideration.. It's all about excessive gain and easy money for them.

With alternative fuels like LPG, Autogas & CNG for vehicles and biofuels, even firewood, plant and animal wastes (biomass) and charcoal used in rural areas, most of the marketers would soon go out of business.. They think they are killing Nigerians but are infact killing themselves.

Lol. Some people don't know how deregulation works😂
Tinubu don commot hand for Una matter.

Ikaeniyan0:
The market have been deregulated. Tinubu do not have the power to decide the price of fuel for filling stations owner.

Don't mind the idiot, he knows what he is trying to achieve. They want to force Fg hand by reverting the subsidy removal.

Especially those mushrooms independent marketers. They know that they can't compete in a deregulated environment.

My advice for them is to subject themselves to acquisition!

Make una close down una filling stations.

TINUBU CANNOT REDUCE PUMP PRICE WITHOUT REINTRODUCING SUBSIDY.


The market forces of demand and supply will determine the price.

2023Blessed:
Reduce pump price? By reintroducing subsidy? Clowns

Buy and sell at whatever rate you feel you will make profit. It's an open market. If the sale and supply of petroleum products is no longer lucrative, find other businesses to do. Abi na by force?

The enemies of Nigeria and the beneficiaries of the subsidy scam are starting to show their ugly faces one by one.

Tinubu is the evil Nigeria is battling right now. He used his looted funds to sponsor against this when it would have been much easier to cope because of his devilish ambition

Brainy007:

May your living condition and that of your family be as you've wished for Nigeria.

I've got no time to join words with fools who can't read or comprehend simple English..

Hezzyluv:
President Tinubu should not reduce price. Them don remove subsidy them don remove am and no goin back.

Suffer the suffer now and enjoy 2moro.

If APC really meant well for this country they would've fixed the refineries during the 8 years they've been in power.

Quit supporting bullshit

When a Pharaoh is in charge, that's what you get...


Exaggerated sense of self importance and mediocrity hyped as good performance.

FacilitatorLekk:
What's wrong with IPMAN, as a body, must they wait for the president to r duce pump price, or is this fake news...the market is no more regulated. Does the president still have powers to call for abitrary fuel price reduction?

He/They are just been silly.....they know that can't compete in a deregulated environment 🤣😆

TINUBU Mr Renewed Shege ProMax abeg reduce the price, IPMAN has begged you werey

2023Blessed:
Reduce pump price? By reintroducing subsidy? Clowns

Buy and sell at whatever rate you feel you will make profit. It's an open market. If the sale and supply of petroleum products is no longer lucrative, find other businesses to do. Abi na by force?

The enemies of Nigeria and the beneficiaries of the subsidy scam are starting to show their ugly faces one by one.

Gbam 🤣

Ikaeniyan0:
The market have been deregulated. Tinubu do not have the power to decide the price of fuel for filling stations owner.

please tell them oo, and why have they not been asking the govt to reduce prices of diesel, kerosine, aviation fuel that they have been selling any price they like since like 10 yrs now?

Why begging tinubu? Thought you guys said that the price is determined by market forces? Crooks everywhere.

Manson1:


I've got no time to join words with fools who can't read or comprehend simple English..

You dont know bat supporters. They are always looking for who to blame for tinubus failures. They go soon tire

Set awon "you will wail for 8 years" don dey face reality🤣🤣

Bobloco:


https://dailypost.ng/2023/07/19/fuel-purchase-reduced-by-50-per-cent-reduce-pump-price-ipman-begs-tinubu/

Once you see these people complaining just know that you are on the right track

You marketers should merge and build huge refinery and stop posting rubbish, wicked looters

IPMAN trying to sound relevant ... The association is no more relevant. Fuel price has been deregulated. let the marketer reduce the price simple.

FacilitatorLekk:
What's wrong with IPMAN, as a body, must they wait for the president to r duce pump price, or is this fake news...the market is no more regulated. Does the president still have powers to call for abitrary fuel price reduction?

They are idiots. Most of them have 1 station. They have been able to run profitably in the fixed price subsidy regime despite inefficiencies because their selling price is guaranteed or they smuggle or sell their allocations to smugglers. Have you ever noticed all those 1 branch filling stations that are always closed…na dem. Now that the market has been deregulated, they can’t compete because they dont have the scale or efficiency to compete. This is exactly what deregulation is meant to fix.

Petrol retailing is a low margin very competitive business. It’s not the kind of business that is profitable with 1 branch. Many fuel stations abroad don’t even make money from petrol retailing but from the retail shop attached to the stations.

And now the real competetion begins. Petrol has always been a low margin business. Money is made from volumes. The subsidy allowed every Tom dick and Harry to enter into the industry with minimum capital investment. This also led to falling of standards across board.

Now actual competition and leveraging on infrastructure will begin.

Tinubu claims that he took Lagos IGR from N600 million to N5 billion monthly during his administration as governor of the state.
No body asked HOW?

He want to do same to Nigeria

FacilitatorLekk:
What's wrong with IPMAN, as a body, must they wait for the president to r duce pump price, or is this fake news...the market is no more regulated. Does the president still have powers to call for abitrary fuel price reduction?

They are asking for subsidy.

kcprince:
In about 6months time a lot of petrol station will close down for the following reasons :

1. Very low margin; imagine buying a product for 498 at the depot and selling it at 510. Making about 12 Naira from 498. Some bad marketers even manipulate their meter to meet up with NNPC price. While some sincere once’s put it as it is . Unfortunately the sincere ones don’t see patronage because people will say price is high.

2. Low demand ; the demand for the product has dropped by over 60 to 70 percent . You now see people come in just to buy 10liters and go. Unlike early this year when an average person buys 30liters .

3. With the high interest bank charge on loans there is no way you can service the loan with such low profit margin especially because you have running cost to Cather for .

I wish government will do something about this like opening a special forex window for petrol import . If not a lot of businesses will go down.

That 12 naira you're calculating per ltr a single tanker will give them above 500k per trip , let's a tanker of 49,000 x12 that is a reasonable profit

nairalanda1:


Venezuela is what happens when subsidy costs eat up your revenue, the borrowed money, and the non-existent money.

Venezuela subsidizes fuel very well. Fuel costs N14 there Aand.....the country is broke , even worse than Nigeria. Their refineries are all bad, and smuggling of fuel is so bad they lose 18 billion dollars every year.

We are not a paradise, Buhari and APC and Tinubu have messed us up, but we would have been worse than Venezuela if we kept subsides on.

Let's compare your claims
Nigeria is broke
All our refineries are bad. Fuel is being smuggled.
Which of the above has removal of subsidy cured?
Cos last I checked, Nigerians got poorer with subsidy removal.
Our naira lost value with forex devaluation
Smuggling is still going on across our borders.
So what's your point exactly?
P.S. We have more poor people than Venezuela which you keep yapping about

Ikaeniyan0:
The market have been deregulated. Tinubu do not have the power to decide the price of fuel for filling stations owner.

The market is deregulated then why is NNPC always in a hurry to announce a uniformity price?

Ikaeniyan0:
The market have been deregulated. Tinubu do not have the power to decide the price of fuel for filling stations owner.

Interesting! Who increased the price from 505

If demand is down, price ought to come down too.

Why is the reverse happening?

PBAT should put money in the hands of smugglers and people who have been committing acts of economic sabotage.

This man needs to be checked cos he must be smoking something.

Bobloco:


https://dailypost.ng/2023/07/19/fuel-purchase-reduced-by-50-per-cent-reduce-pump-price-ipman-begs-tinubu/

Bobloco:


https://dailypost.ng/2023/07/19/fuel-purchase-reduced-by-50-per-cent-reduce-pump-price-ipman-begs-tinubu/

When laughing to bank no complaints.

frowland:


Petrol Stations should work on converting to cooking gas and CNG stations. There is no much profit in petrol stations especially if it is private ownership. They practically now in same status as random retail businesses you see around.

The Private petrol stations needs to start leasing out their petrol stations to the NNPCL, so that they won't be run out of business.

Bobloco:


https://dailypost.ng/2023/07/19/fuel-purchase-reduced-by-50-per-cent-reduce-pump-price-ipman-begs-tinubu/

Very soon,we no go use una fuel again...#bicycletransportation

EdgarAllan007:
If demand is down, price ought to come down too.

Why is the reverse happening?

Because you can't sell below your cost price