Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

At the end, subsidy has to go to bring an end to the crisis.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.
.

I thought this current administration once said during their campaign that subsidy has been one of Nigeria's biggest scam.

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

The Petroleum ministry and the NNPCL knew this all along.
The current government still want to buy face and sympathy from the masses before they eventually leave next year so it won't look as though it was during their tenure subsidy was removed.
But na the next government go suffer am pass.

All these to the detriment of South East/South South.
But saboteurs are smiling to the bank.

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

You are right on point,deregulations of oil sector just like the communication sector is the best, the cost maybe unbearable initially but as more investors venture into into refinery buildings prices will ultimately go down, I remember I bought my first mtn sim for 30k that was when only mtn and econet were operating but as soon as glo, etisalat etc joined the race, there was stiff competition with different promos and we can all see the price of a SIM card today almost foc…let dangote start in January 2023 as promised and subsidy remove completely and use for other vital economy projects….

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

All these long epistle written , who's fault is it ?

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

Must we import what we have? What happened to our refineries. Stop making silly excuses, APC govt was against the removal of subsidy during GEJ tenure, what has changed

Kobonaire234:
He said, “One major cause for the hike in the cost of petrol and its scarcity is the price of diesel. This is because you use diesel to transport the PMS across the country. The vessels that bring in the PMS use diesel to ferry the product.

“You use diesel to operate depots, filling stations and others. So, this is also a major cause for the high cost of petrol. If you bring the price of diesel down to about N170/litre as it was some months ago before jumping to the current high price, who would sell the PMS at the rate which its being sold now?”

You forgot to bold this important point to

Kasdat5:


All these long epistle written , who's fault is it ?

Tinubu , Buhari and APC

Nigerians, get ur voters cards ready for Peter Obi.Things are getting worse on daily basis

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

Stop the useless explanation, there was no serious effort to revamp the refineries for the last 8 years, I don't see why we should be importing fuel past 2015, when in 2014 the refinery at Onne was working.

What about the promise to ensure that Onne refinery will be operational in December 2022?

What about the useless Dangote refinery?

Face it, the present government has failed!! Period

This country has grown to the stage where fuel importation is no longer sustainable, there is also the issue of theft of crude oil , diversion of imported products to other countries by cronies, not to talk of the senseless burning of crude and refined petroleum products recovered from oil thieves by our not so gallant navy.

I reiterate once again, the present government has failed in addressing the nations fuel situation, its foot dragging on full deregulation is another evidence of its failure.

NNPC cosmetically privatized is still running as its old moribund self. Its zealousness to the sole importer and distributor of petroleum products in the country without laying a proper framework is a major contributor to the scarcity of petroleum products.

I bought fuel on Monday for N230 a litre, Wednesday I buy for N240 a litre, this morning its N250 a litre, am sure some places are buying way higher, this trend is not good.

Stop wasting your data making excuses for people who fail in their responsibilities unless you are beneficiary of their failure.

That portrait of Timipre Silva, as a sitting Minister of the Federal Republic disgusts me.

Failed leadership

Even at 500 subsidy has not been removed, apc is the worst thing that happened to nigerians, evil, wicked and bloodsucking demons

GEJ will be laughing at APC and Nigerians now . He meant well but they frustrated him out of power by fake promises. I never voted Buhari because I wasn't one of the Nigerians deceived. For those who voted this evil party.. una see una life .. rubbish.

Listen to Peter obi, the amount they claim we consumed daily is inflated, corruption is the biggest problem not removing subsidy. You claim to spend 6 billion daily while actual expense is 1billions means money meant for a week is spent daily, you can never substain such expense.

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

This is your own conjecture not based on any facts.
These are statements from people who are directly involved

[b]Korie, however, explained that the cost of the PMS at filling stations operated by major marketers had been below N200/litre because major oil marketers often got their products directly from NNPCL.

He said independent marketers at times made purchase from these major marketers, as this was why the cost of petrol at retail outlets operated by independent marketers was usually higher than N200/litre.

“We are all marketers, but it depends on how you get your own product. They (major marketers) get their products from source (NNPCL) and we get ours from them (major marketers). So, don’t expect us to sell less than them,” he stated.

Meanwhile, the NOGASA president pointed out that the hike in diesel price was also impacting negatively on the supply and cost of petrol.

He said, “One major cause for the hike in the cost of petrol and its scarcity is the price of diesel. This is because you use diesel to transport the PMS across the country. The vessels that bring in the PMS use diesel to ferry the product.

“You use diesel to operate depots, filling stations and others. So, this is also a major cause for the high cost of petrol. If you bring the price of diesel down to about N170/litre as it was some months ago before jumping to the current high price, who would sell the PMS at the rate which its being sold now [/b]

And

Akinrinnade revealed that MOMAN members and depot owners were buying directly from NNPCL at the regulated price of N148/litre, while IPMAN members had to buy from private depots for N220/litre.

Our correspondent observed that filling stations belonging to NNPCL dispensed petrol at N169/litre, members of MOMAN sold theirs at N170/litre, while IPMAN members were selling at about N250/litre depending on the location.

Learn to read, assimilate and understand issues and but going offpoint based on your own personal bias and propaganda

Macphenson:


Tinubu , Buhari and APC

Best way to get rid of them is definitely by voting them out..

quentin06:


Stop the useless explanation, there was no serious effort to revamp the refineries for the last 8 years, I don't see why we should be importing fuel past 2015, when in 2014 the refinery at Onne was working.

What about the promise to ensure that Onne refinery will be operational in December 2022?

What about the useless Dangote refinery?

Face it, the present government has failed!! Period

This country has grown to the stage where fuel importation is no longer sustainable, there is also the issue of theft of crude oil , diversion of imported products to other countries by cronies, not to talk of the senseless burning of crude and refined petroleum products recovered from oil thieves by our not so gallant navy.

I reiterate once again, the present government has failed in addressing the nations fuel situation, its foot dragging on full deregulation is another evidence of its failure.

NNPC cosmetically privatized is still running as its old moribund self. Its zealousness to the sole importer and distributor of petroleum products in the country without laying a proper framework is a major contributor to the scarcity of petroleum products.

I bought fuel on Monday for N230 a litre, Wednesday I buy for N240 a litre, this morning its N250 a litre, am sure some places are buying way higher, this trend is not good.

Stop wasting your data making excuses for people who fail in their responsibilities unless you are beneficiary of their failure.

NNPC brings in fuel at N510...and sells at...

Agbegbaorogboye:

This is your own conjecture not based on any facts.
These are statements from people who are directly involved



And



Learn to read, assimilate and understand issues and but going offpoint based on your own personal bias and propaganda

And NNPC brings in fuel at N510/liter.

Learn to assimilate facts too ....once you do, everything makes sense

Thanks and good am.

And we have a brain dead dumb and deaf idiot that call himself the minister of petroleum.
The good thing is that we are all in it together.
If you as a government person or party supporter escape it, your children will not.

Kobonaire234:



NNPC brings in fuel at N510...and sells at...

NNPC brings in fuel, you mean imports fuel, NNPC has a mandate to fix refineries, why arent they doing so?

You guys never use your brains at all.

Agbegbaorogboye:

You forgot to bold this important point to

But of course...diesel costs impigune on subsidy costs.

If you want cheap fuel , fine. I know the people will suffer if subsidy goes. But the sad thing is...fuel costs N510 per liter to bring in.

quentin06:


NNPC brings in fuel, you mean imports fuel, NNPC has a mandate to fix refineries, why arent they doing so?

You guys never use your brains at all.

Yeah, because bringing in fuel at N510 and selling it below N190 does wonders for profits....which means no profit to fix refineries OR BUILD New ones.

Thanks and good am.

Chibuzoc:


Must we import what we have? What happened to our refineries. Stop making silly excuses, APC govt was against the removal of subsidy during GEJ tenure, what has changed

When you sell fuel below the cost of production and do so for over 50 years, a lot happens....

Thanks for your time.

Kasdat5:


All these long epistle written , who's fault is it ?

1.Buhari for opposing subsidy removal and for not removing it when he came into power.

2.If he had done so by 2015, we would be reaping the benefits. If he had not joined the 2011/12 protests...by now we would have more refinereis than Dangote.

Yes, I am not an APC saupporter...to answer your real question.

Thanks for your time.

Second Niger Bridge users will pay
toll - FG


https://www.youtube.com/watch?v=TPwDbEtKenU

Kobonaire234:


When you sell fuel below the cost of production and do so for over 50 years, a lot happens....

Thanks for your time.

Promote local production to reduce cost.

Why is this fuel scarcity becoming a reoccurring issues during xmas and ileya period. Something is not just right

Chibuzoc:


Promote local production to reduce cost.

Yes, but no one is going to refine fuel above N200 and sell it at N190 or less....

That is why the market has to set the price.

The only way to promote local production....REMOVE the darn subsidy

quentin06:


NNPC brings in fuel, you mean imports fuel, NNPC has a mandate to fix refineries, why arent they doing so?

You guys never use your brains at all.

NNPC brings in fuel and then sells it for less than the cost of bringing it in and the cost of production

When we had refinereis...NNPC was selling fuel below the production cost...

In both instances, there was a difference...the subsidy...which had to be paid. Subsidies are never enough to cover the difference

And now you know...no profits, chronic losses...bad refinereis...we became a net importer by 2010

Remove subsidy, let fuel be sold for a profit....we won't need to have any refining at home issue.




And do grow up, dear boy. Insults don't become you