adioolayi:


Honestly, I don't know.

But I know the price refineries will be getting crude oil will be that of international price....as the price is regulated globally.

I only know the cost of importation and duties which will not apply to the ones refined locally will help reduce the price more. But I don't think it will be so significant. Maybe NGN100-200 less than what we are getting now

You see, people are already swallowing the propaganda that cost of crude oil is regulated globally.
Are you aware Saudi does not sell crude to its local refinery at international price?
Are you aware so many countries are not in opec?

OneCandleAway:


Me I don't pick some calls when I know you're a habitual begger or borrower. I carry my father's responsibility, I can't carry another person's father's responsibility join to my own.

Some are quarrelling with me because of it but I don't care.

Being born with a penis is the sole prerequisite for being saddled with responsibilities, just as soon as you're considered to be in a place of financial stability, in Nigeria.

We're saddled with burdens that we don't consciously ask for, and it is considered inappropriate behaviour or a touch of irresponsibility to shy away from same. Can't even remember the last time any family member genuinely asked me "how are you?", or made time to sit and listen to my challenges.

My head space is a clustered environment of plans, muddled priorities, tons of un-met requests and thoughts of other people's problems that I can't even remember the last time I walked into a mall to get myself a decent pair of shoes. But not for the alcohol I habitually use to suppress thoughts and emotions, I probably would have been on anti-depressants right now. Hell, I haven't even found the appetite for sex since November last year.

Nigeria is not a safe society for the psychology of the man child.

Kukutente23:

You see, people are already swallowing the propaganda that cost of crude oil is regulated globally.
Are you aware Saudi does not sell crude to its local refinery at international price?
Are you aware so many countries are not in opec?

I am not. If that be the case, then, Nigeria should adopt the best possible to ease this burden on the masses.

I am not an expert here, I am only saying what some analysts have been saying on media.

ogododo:


https://dailypost.ng/2023/09/18/fg-still-practicing-quasi-subsidy-expect-fuel-price-hike-oil-marketers/

lol

the more you look the less you understand this country called nigeria.

adioolayi:


I am not. If that be the case, then, Nigeria should adopt the best possible to ease this burden on the masses.

I am not an expert here, I am only saying what some analysts have been saying on media.

Duly noted
Nigeria sells at OPEC price because we are a member of OPEC
There are oil producing nations that sell oil at price different from OPEC like Russia
Saudi that's a member of OPEC does not sell crude to its refinery at OPEC price

Evil people! God have you cease to be God of justice anymore? Wicked must be judge.

It's a sad situation we're in.

There a certain groups who have seen the non existent/functional refineries as their cash cow so they will ensure it remains that way. Same with out epileptic power sector.

It was with shame I watched one trending video of South Korean tour guide stating that they purchase crude from Nigeria and sell refined products to us.

More sad is the fact that the world is slowly moving away from fossil fuels and searching out other alternative means of energy which means that in a few years oil will become almost useless. UK has already set 2030 as the year they faze out combustion engines for their regular automobiles and we as country couldn't make any meaning development for ourselves with oil.

GreatrAnalyst:


That's the million dollars question...why aren't we refining ourself?
How does a country of this population, listed among 15 countries with highest deposit of crude oil or something, be exporting crude and importing the bye products instead?
It is nothing short of voodoo.

They will rather tell you that getting refinery done isn't a day job. If they actually wanted it done, since how many years now have the refineries downed tools or stopped operation?
The agenda is the agenda.
Refinery not working is very very political!

Which kind of government in the world does not have working refineries in place but gave dollars at a cheaper rate to a person (Dangote) to build a refinery that can purportedly serve a whole country? The more you look, the less you see.
Only in Nigeria.

Make they put fuel, gas, dollar rate all at #1000 make everybody rest

I'm glad all of us are in the same boat.

What is the purpose of this announcement by these marketers? Are they pained that the government has not allowed price increase so that the nation will burn?

This is definitely a worrisome development. If the federal government is still subsidizing fuel prices in a quasi-manner, then that means that the market is not operating in a truly free and open way. And if the oil marketers are predicting a fuel price hike, that could have a major impact on the cost of living for people in Nigeria. Are people already starting to feel the effects of this, or is it still just speculation at this point? 😬

Nigerians would continue to be at the mercy of ruthless leaders if the right things are not done.

Rather than 'dash' N180b to governors who have a standing reputation for improvising the masses, why not invest it in technology & other efforts that curb the issues that made subsidy unsustainable in the first place.

With 2bn, Nigeria can get a good surveillance tactical drone. With 20bn, we can get 10 of those drones to enhance our border security against smuggling of pms...

Address issues at the source, don't paper up cracks.

The manner of the subsidy removal is fraudulent, thoughtless & a sign of government's failure to be responsible to its duties.

Two key reasons for removing fuel subsidy are smuggling & the corruption by a few.

Now, what the government should have done is;

1. Do more to secure the borders. Invest in technology tracking & surveillance systems. Sanction security officials through whose sectors fuel is smuggled out.

2. Go after the cabal in the fuel subsidy sector. The private & public characters involved must be made to answer for thier alleged crimes & the proceeds confisticated. They cannot be allowed to go scot-free with thier loot & Nigerians made to suffer.

Thier cases should be fast tracked.

3. Increase the price of fuel to 250-300 band. This will take a bit of pressure off government in the interim pending when it can fully sanitise the fuel subsidy regime. This price will still be affordable for majority of Nigerians without the need of providing Pallatives. Pallatives is a scam & looting avenue because there are no proper checks.

4. Review downwards associated costs/charges/taxes that add to the price of fuel in Nigeria. Tackle security bottlenecks & extortionists.

5. Immediately undertake a priority revamp of the refineries to get local production up to at least 70% in the first instance within 6 months. Don't wait for Dangote.

6. Institute a clear policy to encourage modular refineries & monitor thier development. Do same for gas initiatives.

7. The confiscated properties of fuel subsidy bandits should be invested in maintaining the refineries, supporting modular refineries, investing in tracking technology for smuggled fuel & paying for subsidies (if any).

8. Invest in a solid mortgage scheme. Not the peanuts & unrealistic nonsense we have now. If people can get good mortgages for houses, cars, electronics etc, it will greatly reduce corruption since it is easier to track spending & assets.

That subsidy should go is not the issue, but the process of its removal must be transparent, fair & well-thought-out.