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With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN - Politics - Nairaland

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Petrol Will Cost 700/litre Begining From July 1st / Petrol Will Be Available In Two Weeks – IPMAN / Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL (2) (3) (4)

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With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Omooba77: 2:37am On Sep 02, 2023
The Chairman, Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter, Joseph Obele, has enjoined the Federal Government to ensure that the nation’s refineries are fixed as planned.

He stated that the cost of Petroleum Motor Spirit, also known as petrol, would crash below N200 per litre should the refineries become functional.

This is coming against the backdrop of the removal of petrol subsidy, which has led to a corresponding hike in fuel prices and a hike in the cost of living.

To revive the nation’s economy, President Bola Tinubu has promised to ensure that the Port Harcourt Refinery begins production by December 2023.


Last Friday, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during a visit to the Port Harcourt Refinery, reinstated Federal Government’s commitment to get the refinery running.

However, Obele in an interview with Saturday PUNCH, raised concern that the scarcity of dollars had continued to affect importers, adding that the product would continue to increase if the government failed to offer a short-term solution.

He said, “Until our nation-owned refineries are functional, fuel prices will keep increasing due to international variables. But when our refineries are functional, Nigerians will buy fuel less than N200 per litre.


“The scarcity of dollars has made it difficult for importers of petroleum products to continue further importation. For about two weeks now, the petroleum distribution chain has experienced turbulence. This is evident on the NNPC buying portal of marketers.
https://punchng.com/petrolll-sell-less-than-n200-per-litre-with-functional-refineries-ipman/

8 Likes

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Mynd44: 6:09am On Sep 02, 2023
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

84 Likes 7 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by ecolime(m): 6:09am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira
Even with this, this same IPMAN will still look for ways to rip off the people so long they form part of the value chain. Those guys are economic saboteurs.

93 Likes 6 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Authoreety: 6:10am On Sep 02, 2023
Nigeria

Since we began producing and eating our rice, Nigeria became worse in alll ramifications..

Our leaders are terrible

145 Likes 7 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by debossng: 6:10am On Sep 02, 2023
H
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by brain54(m): 6:10am On Sep 02, 2023
Nothing works as expected in Nigeria…

19 Likes

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by cjudy(m): 6:11am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira

IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth

135 Likes 9 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Hotice085: 6:11am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira

How much is petrol in OPEC countries and what is their minimum wage

73 Likes 5 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by aderilb: 6:11am On Sep 02, 2023
Why is dangote refinery not working yet after commissioning

62 Likes 3 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by verybadmouth(m): 6:12am On Sep 02, 2023
I hope that time will come
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by wunaESQ(m): 6:12am On Sep 02, 2023
Let the refinaries start working first..... Everytime rubbish promises....

14 Likes 2 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Chetas81(m): 6:12am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira
kindly mention the 5 country where this type of subsidy is being practiced

62 Likes 5 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by sarujaSA(m): 6:13am On Sep 02, 2023
Never
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by sallazlee(m): 6:13am On Sep 02, 2023
May God help us
Amen
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Hotice085: 6:13am On Sep 02, 2023
cjudy:


IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth


Except to ban, you think say him sabi anything

70 Likes 5 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Goodlady(f): 6:13am On Sep 02, 2023
I once suggested we should contribute money to FG to fix the refineries. May be each Nigerian should donate at least N1000.
If at least 50 million people donate N1K each, how much?
Cos Nigeria matter is like a cursed child who's means of success has been blocked. No matter the struggle, the child dies in penury.
How can a country be like Nigeria blessed with crude oil be importing finished petroleum products at exorbitant rate which is above the masses reach and we can't produce the petrol here?

60 Likes 1 Share

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by bigx(m): 6:14am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira

If they use a cost plus model it should help.
Also eliminating the cost of shipping out crude ans shipping back petrol should make a difference.

39 Likes 1 Share

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by awoo10(m): 6:15am On Sep 02, 2023
If it worked like that in other country, when it gets to Nigeria it is bound to fail. Our leaders have surely signed a pact with the devil to make life extremely difficult for Nigerians. That price peg above is not realistic in this present Nigeria.

18 Likes 1 Share

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Kobicove(m): 6:15am On Sep 02, 2023
Story undecided
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Chetas81(m): 6:15am On Sep 02, 2023
aderilb:
Why is dangote refinery not working yet after commissioning
THIS PART OF THE WORLD IS WHERE THOSE ELERIBURUKU ONIRANU FRAUDULENT CITIZEN, WILL COMMISSION UNFINISHED PROJECT, MEANWHILE THE WORLD ARE LOOKING AT US THROUGH THEIR WINDOWS, HOW WE DO THINGS, AND WE THE BLACK AFRICAN'S DON'T ASHAMED OF OURSELVES

12 Likes 1 Share

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Helpfromabove1(m): 6:17am On Sep 02, 2023
But you know functional refinery is not possible in Nigeria na
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by nairalanda1(m): 6:17am On Sep 02, 2023
Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Yeah, unless there is a massive subsidy of some sorts, or the people selling crude decide to sell it at a lower price, or the price of crude crashes below 50 dollars a barrel, fuel prices can't reach N200 or less.

The only way I see the thing happening is if the government earns us more and more in dollar revenue, which means the value of the naira goes up again, MAYBE, fuel prices would be 'lower'

98 Likes 2 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Kenmatt(m): 6:18am On Sep 02, 2023
I didn't go through.

But I disagree in totality. Not in Nigeria. Nothing will ever go up and come down in this Country.

When these men and women have tasted the sweetness of the Sugar, and you're saying they can still spit it out. Never!

An average Nigeria business man is a Shylock. There is a small Market in the area where I am living, can you guys believe that the three sets of people that sell Ice Fish and Cat Fish can not come to the market the same day? They scheduled it that Mrs A will come on Monday, B on Tuesday while C on Wednesday. So that there will be no competition among themselves.

Meaning that if you come to the Market to buy, anything She tells you, you must buy except you don't want to buy Fish in that Market that day.

We have "Dangote" every where.

Let me tell you all what happened couple of Months ago between me and the woman that attended to me in a Cooking gas Station.

Me: Madam, how much is gas?

Woman: Are you not seeing it there?

Me: Madam but gas has come down nah!

Woman: Come down where? All this Una audio price, make Una leave me abeg, every time, gas has come down, gas has come down.

Me: But madam, it's every where in the news nah.

Woman: You people should go and buy it in the news nah.

But this same people, as soon as they hear that Tanker drivers are going on strike next week, they will inflate their prices at a spot. Some Fuel Stations will even shut down and resort to be selling in the evening just to make an abnormal profit.

27 Likes 2 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by 4tomandchi: 6:18am On Sep 02, 2023
When will our story change oh Nigeria child of perdition!!!

3 Likes 1 Share

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Osanoghodua1: 6:19am On Sep 02, 2023
I don't know how possible this will be, will Refineries be getting free supply or they will be getting supplied in Naira? That will kill Dangote refinery, he will go bankrupt and alleged sabotage..Nations with oil ought to have certain amount they refine for their citizens. The question is: Is PMS cheap in USA, Norway, Saudi, Iran, Iraq and other oil producing nations that have functional refineries?

3 Likes

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Unperturbedpota: 6:19am On Sep 02, 2023
But it's well known to everyone . The fact is can we even have one refinery working? Why not sell them off to private firms who will manage them so government can focus on governance.

They won't because those refineries are a sure way of looting funds

4 Likes 2 Shares

Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by Mckandre(m): 6:20am On Sep 02, 2023
Make una no dey give us false hope
Re: With Functional Refineries, Petrol Will Sell For Less Than ₦‎200 – IPMAN by UbanmeUdie: 6:20am On Sep 02, 2023
shocked


Story for the gods!

Between IPMAN and PMAN I don't know which group is less stupid.

2 Likes

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