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Politics / Re: How We Arrived At N145 Price For Fuel, By Government by naija247: 6:38pm On May 15, 2016 |
Maybe I'm wrong but I believe NNPC still imports PMS which forex rate are they using. If it's the official rate which I think they'll use, how much then would they sell? Refineries in Nigeria still produce PMS how much would it sell. The pricing templet is for importation. 2 Likes |
Politics / Re: How We Arrived At N145 Price For Fuel, By Government by naija247: 6:28pm On May 15, 2016 |
I don't get how prices would come down due to "competition" from the pricing templet no marketer would sell below #135 and above #145. Even if some marketers some how gets forex at cheaper rates to the templet do we really think they would sell less than #135. Even if all marketers miraculously decide to sell at #135, the price is still high. 3 Likes |
Politics / Re: How We Arrived At N145 Price For Fuel, By Government by naija247: 6:12pm On May 15, 2016 |
The current pricing templet is based on the assumptions that 1. The price of crude oil doesn't rise, once it does this templet would be revised upwards. 2. Marketers are able to source forex around the stipulated rate, which by the way is the current interbank rate not parallel market rate. 1 Like |
Politics / Re: NDLEA Arrests 3 Civilian JTF In Possession Of Marijuana by naija247: 1:34pm On May 15, 2016 |
Una think say to face boko boys na beans? Abegi leave dem make una go catch better drug barons. |
Politics / Re: Fuel Subsidy Not Removed, VP Osinbajo Clears The Air by naija247: 9:17am On May 15, 2016 |
Bottom line; fuel price don increase. |
Politics / Re: Nigeria To Establish DNA Databank For Tracking Terrorists by naija247: 7:29pm On May 14, 2016 |
Common national id card una no do na DNA bank..... 43 Likes 1 Share |
Politics / Re: Obasanjo: Buhari Not Hot In Economic Affairs by naija247: 7:05pm On May 14, 2016 |
I never doubted Buhari's integrity as an individual, but as the president of Nigeria I feel he lacks the flexibility and in-depth knowledge required for the office. If Nigeria were to have a ministry strictly for fighting corruption, Buhari would be my ideal candidate, because apart hating corruption there is nothing really about him. 3 Likes |
Politics / Re: Bombshell!!! Is It Because It Is Buhari? - By Mustafa Yahaya. by naija247: 6:21pm On May 14, 2016 |
I never doubted Buhari's integrity as an individual, but as the president of Nigeria I feel he lacks the flexibility and in-depth knowledge required for the office. If Nigeria were to have a ministry strictly for fighting corruption, Buhari would be my ideal candidate, because apart hating corruption there is nothing really about him. 1 Like 1 Share |
Politics / Re: Opinion: Why The Price Of Fuel MAY Never Go Down by naija247: 12:49pm On May 14, 2016 |
In the telecom industry there was competition between service providers, which brought down prices of their goods and services. Competition between marketers and distributors of telecom products didn't bring down the prices of anything. Prices of petroleum products will only go down if there is competition between local refiners. Producers determine the lower limit of prices of goods in the market not marketers, no marketer will sell below the price he buys. We already know the minimum and maximum price of PMS from the gov't templet. Now tell me which sane marketer would sell below the templet just because there is competition? Moreover the current price is based on the assumptions that: 1. The price of crude oil wouldn't change. If today the price of crude goes to say $45-50 this templet would be revised upwards. 2. Marketers are able to source enough forex at or below #298 to a 1$. If marketers can't source enough at the stipulated rates, they would not import. As long as we import the PMS prices would remain high. Gov't talks about new players in the industry, I hope they are referring to refiners and not importers, new importers will still buy and sell PMS at similar rates to existing ones. Finally I have some questions how much is PMS produced in Nigeria going to sell, because the templet we have is for imports. Would NNPC still import and if yes, which exchange rate would they use official(196) or interbank (285-298). |
Politics / Re: Opinion: Why The Price Of Fuel MAY Never Go Down by naija247: 12:48pm On May 14, 2016 |
#000000 |
Politics / Re: Increase In Fuel Price: Osinbajo Explains Reasons Behind It by naija247: 12:13pm On May 14, 2016 |
If gov't were to pay subsidy how much would it cost? Lets assume gov't pays #45 per liter as subsidy that would bring the price of pms around #100 at most. Even if we entirely import our daily needs which is around 35000000 liters that's a daily payment of #1.575 billion and about #575 billion yearly. A gov't that plans to spend #500 billion on the payment of #5000 to unemployed people can't pay subsidy that would ease the suffering of ALL Nigerians. Of what use is the #5000 anyway when cost of living has risen sky high. They need to get their priorities right. Subsidy removal should be gradual while refineries are fixed/built. |
Politics / Re: Naira Continues Freefall, Now N370/$ by naija247: 11:55am On May 14, 2016 |
What did they expect, dollars to sell at #298 just because they used that in their pricing templet? Even a kid knows that this would happen. 5 Likes |
Politics / Re: Not all Nigerians Understands English , The Subsidy Was Not Removed !!!! by naija247: 10:57am On May 14, 2016 |
Have you seen the pricing templet? How much is gov't paying on subsidy since it has not been removed? |
Politics / Re: Fuel Subsidy Not Removed - Osinbajo by naija247: 10:24am On May 14, 2016 |
If gov't were to pay subsidy how much would it cost? Lets assume gov't pays #45 per liter as subsidy that would bring the price of pms around #100 at most. Even if we entirely import our daily needs which is around 35000000 liters that's a daily payment of #1.575 billion and about #575 billion yearly. A gov't that plans to spend #500 billion on the payment of #5000 to unemployed people can't pay subsidy that would ease the suffering of ALL Nigerians. Of what use is the #5000 anyway when cost of living has risen sky high. They need to get their priorities right. Subsidy removal should be gradual while refineries are fixed/built. |
Politics / Re: Increase In Fuel Price: Osinbajo Explains Reasons Behind It by naija247: 9:23am On May 14, 2016 |
What happens if marketers can't source for forex at your expected rates. |
Politics / Re: Fuel Subsidy Not Removed - Osinbajo by naija247: 9:14am On May 14, 2016 |
#000000 |
Politics / Re: New PMS Price Would Crash In 3months- APC by naija247: 8:59am On May 14, 2016 |
In the telecom industry there was competition between service providers, which brought down prices of their goods and services. Competition between marketers and distributors of telecom products didn't bring down the prices of anything. Prices of petroleum products will only go down if there is competition between local refiners. Producers determine the lower limit of prices of goods in the market not marketers, no marketer will sell below the price he buys. We already know the minimum and maximum price of PMS from the gov't templet. Now tell me which sane marketer would sell below the templet just because there is competition? Moreover the current price is based on the assumptions that: 1. The price of crude oil wouldn't change. If today the price of crude goes to say $45 this templet would be revised upwards. 2. Marketers are able to source enough forex at or below #298 to a 1$. If marketers can't source enough at the stipulated rates, there would not import. As long as we import the PMS prices would remain high. Gov't talks about new players in the industry, I hope they are referring to refiners and not importers, new importers will still buy and sell PMS at similar rates to existing ones. Finally I have a question how much is PMS produced in Nigeria going to sell, because the templet we have is for imports. |
Politics / Re: New PMS Price Would Crash In 3months- APC by naija247: 8:58am On May 14, 2016 |
#000000 |
Politics / Re: Subsidy Removal: PPPRA Pegs Naira At N298/$ For Fuel Imports by naija247: 5:30pm On May 13, 2016 |
Eruditor:For ur mind subsidy still dey abi? 1 Like 1 Share |
Politics / Re: Petrol Price’ll Go Down In Six Months – Kachikwu by naija247: 1:00am On May 13, 2016 |
#000000 |
Politics / Re: Christiane Amanpour Interviews Muhammadu Buhari @ 7pm On CNN by naija247: 11:23pm On May 12, 2016 |
Naija I hail! Instead of analyzing what Buhari is saying we are busy analyzing his accent. 1 Like |
Politics / Re: Breaking- EFCC Detains Ex Finance Minister With Embarrassing PICTURE!! by naija247: 10:20am On May 12, 2016 |
In na ordinary person way steal phone plenty people go dey praise the signboard way im carry, but since na rich man dem go say " its embarrassing, he shouldn't be treated in this manner". Poor man thief we no defend am rich man thief, he no even require lawyer people go queue to defend am. |
Politics / Re: Tanko Almakura Controlling Traffic At Accident Scene by naija247: 11:42pm On May 10, 2016 |
Me I no see am dey control any traffic |
Politics / Re: Jonathan On Budget Padding: Throwback News by naija247: 12:19pm On May 10, 2016 |
Smartsyn:You mean Buhari shouldn't fix the problem, but just continue abi? |
Romance / Re: Do You Like My Profile Photo? by naija247: 11:57pm On May 06, 2016 |
You u like am? |
Politics / Re: Recovering Stolen Funds Has Become Tedious—buhari by naija247: 9:11am On May 06, 2016 |
orisa37:Some people actually believe the crap about Diezani promising to return $2 billion. |
Politics / Re: Senate: 5-year Jail Term For Randy Lecturers On The Way by naija247: 10:14pm On May 04, 2016 |
Secondary school teachers unko? Abi dem think say na only lecturers dey follow students? 4 Likes |
Politics / Re: We Will Poison Our Water, Fayose Threatens Fulani Herdsmen by naija247: 2:41pm On May 04, 2016 |
mencade5:Ma guy you wan train cow carry am go circus, abi u wan rear cow sell and chop? |
Politics / Re: See The Arms Seized By Nigerian Custom Service In Kano. (pic) by naija247: 4:48pm On May 03, 2016 |
Why are some people mischievous? FYI this happened in the US, L.A to be precise. |
Politics / Re: Fuel Scarcity: White Man In A Danfo Bus In Lagos (photos) by naija247: 8:50pm On Apr 30, 2016 |
Love Machine:Why must he take a taxi? Do you take taxis every were you go? I forgot, to people like you any "white" person is special. |
Politics / Re: Why Blame President Buhari For The Herdsmen Outrageous Killing In Some State by naija247: 11:16am On Apr 30, 2016 |
Pipe line vandals were warned by the president to stop or be dealt with like boko haram. Why not leave the warnings and actions to state governors ? 2 Likes |
Politics / Re: Senators Disagree On Nationality Of Killer Herdsmen by naija247: 1:16pm On Apr 29, 2016 |
So some senators still think Nigerians are not capable of senseless killings. |
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