₦airaland Forum

Amigoss:
And what does this shalaye have to do with what I posted

The stakeholders are private business men. Is a limited company now. The act is trying to reduced government influence on the petroleum and gas sector. Is not shalaye. They are business people and FG is owing them money for fuel subsidy.

seankafor:
that boy never reach 20 years.. he sure me die

seconded

Segedinho:
People that hid indomie during covid will actually give you a better alleviation scheme...



No worry...dem go pack many fertilisers for you and other farmers

.

monerozi5590:
The stakeholders are private business men. Is a limited company now. The act is trying to reduced government influence on the petroleum and gas sector. Is not shalaye. They are business people and FG is owing them money for fuel subsidy.

Where the public entity when the price was 189 xterday??

Who’s fooling who
https://www.nairaland.com/7709913/n488-new-official-price-fuel

Can circular stop them

Segedinho:
Where the public entity when the price was 189 xterday??

Their eyes have open. . Is about profit now.

monerozi5590:
Their eyes have open. . Is about profit now.

I know you won't be affected as a farmer who doesn't really needs fuel to function properly.


I understand d joke

monerozi5590:
NNPC is a limited liability company now with the signing of the PIA into law in 2021.

FG is owing NNPCL 2.8 trillion naira for fuel subsidy.

to clarify further, the 'subsidy' as we know it where major marketers brought in fuel at international rates, sold to the public at a fixed rate and were paid the balance buy the government ended in 2016 . the price of petrol is based off the price of crude.

in late 2015, saudi arabia flooded the market with crude in a bid to making fracking unprofitable.

this forced the international price of petrol down to a point where the government was literally not subsidizing it. at this point the buhari admin 'ended' the subsidy

however, the price of oil eventually rebounded [good for us] and with that, so did the price of pms. Subsidy being a lightning rod - the government was not ready for the potential fallout. So the burden was passed onto nnpc via 'underecovery' . to this date, major marketers are being owed billions in legitimate subsidy arrears .nothing will make them touch subsidy again. So NNPC has through other companies been importing pms at international rates and selling it to marketers at the subsidized rate.

to this moment only nnpc\nnpcl is bringing in pms. because if i were to import pms directly, i would have to sell at international rates n500+ in a country where pms was sold at n189

NNPC officially became a limited liability company in 2021. so on paper, they are no longer part of the government. so on paper, they are a PRIVATE company supplying PMS to the nigerian market at a subsidized rate. i say on paper because they are still running a lot like a govt company. for a proper transition , they will have to get an oga from outside their system.

the implication of this is the federal govt now owes NNPCL subsidy/underrecovery payments that it cannot pay.

the summary is nigeria is broke and cannot continue to run the subsidy /underecovery especially since to this date, no one has sorted out the leaks in the system - probably because as before too many people are compromised

Segedinho:
I know you won't be affected as a farmer who doesn't really needs fuel to function properly.


I understand d joke

Fuel affect everything oh. Everything. I am not a farmer but working with farmers.

GloriousGbola:
to clarify further, the 'subsidy' as we know it where major marketers brought in fuel at international rates, sold to the public at a fixed rate and were paid the balance buy the government ended in 2016 . the price of petrol is based off the price of crude.

in late 2015, saudi arabia flooded the market with crude in a bid to making fracking unprofitable.

this forced the international price of petrol down to a point where the government was literally not subsidizing it. at this point the buhari admin 'ended' the subsidy

however, the price of oil eventually rebounded [good for us] and with that, so did the price of pms. Subsidy being a lightning rod - the government was not ready for the potential fallout. So the burden was passed onto nnpc via 'underecovery' . to this date, major marketers are being owed billions in legitimate subsidy arrears .nothing will make them touch subsidy again. So NNPC has through other companies been importing pms at international rates and selling it to marketers at the subsidized rate.

to this moment only nnpc\nnpcl is bringing in pms. because if i were to import pms directly, i would have to sell at international rates n500+ in a country where pms was sold at n189

NNPC officially became a limited liability company in 2021. so on paper, they are no longer part of the government. so on paper, they are a PRIVATE company supplying PMS to the nigerian market at a subsidized rate. i say on paper because they are still running a lot like a govt company. for a proper transition , they will have to get an oga from outside their system.

the implication of this is the federal govt now owes NNPCL subsidy/underrecovery payments that it cannot pay.

the summary is nigeria is broke and cannot continue to run the subsidy /underecovery especially since to this date, no one has sorted out the leaks in the system - probably because as before too many people are compromised

Nice explanation. Simple and clear English

afrodoc2:
Nigeria is not a great nation. We should stop boboing ourselves.

I am happy they have stopped using that giant of Africa bobo that I used to hear almost daily from primary school until university.

Hehehe. Tinubu and his supporters thinks otherwise.

GloriousGbola:
to clarify further, the 'subsidy' as we know it where major marketers brought in fuel at international rates, sold to the public at a fixed rate and were paid the balance buy the government ended in 2016 . the price of petrol is based off the price of crude.

in late 2015, saudi arabia flooded the market with crude in a bid to making fracking unprofitable.

this forced the international price of petrol down to a point where the government was literally not subsidizing it. at this point the buhari admin 'ended' the subsidy

however, the price of oil eventually rebounded [good for us] and with that, so did the price of pms. Subsidy being a lightning rod - the government was not ready for the potential fallout. So the burden was passed onto nnpc via 'underecovery' . to this date, major marketers are being owed billions in legitimate subsidy arrears .nothing will make them touch subsidy again. So NNPC has through other companies been importing pms at international rates and selling it to marketers at the subsidized rate.

to this moment only nnpc\nnpcl is bringing in pms. because if i were to import pms directly, i would have to sell at international rates n500+ in a country where pms was sold at n189

NNPC officially became a limited liability company in 2021. so on paper, they are no longer part of the government. so on paper, they are a PRIVATE company supplying PMS to the nigerian market at a subsidized rate. i say on paper because they are still running a lot like a govt company. for a proper transition , they will have to get an oga from outside their system.

the implication of this is the federal govt now owes NNPCL subsidy/underrecovery payments that it cannot pay.

the summary is nigeria is broke and cannot continue to run the subsidy /underecovery especially since to this date, no one has sorted out the leaks in the system - probably because as before too many people are compromised

Yesterday. Marketers to blame,subsidy is still till June ending.
Today. Nnpc price has jumped up, no more blaming marketers but another round of shalaye.
E tii yaa werey sir. Ori yin o pe raraa.

I believe Tinubu is doing something to make everyone happy.

I and my gang of akpamus will be back to posting more useless pictures that have nothing to do with the state of the nation.

My oga will shame all his haters.

The average Price in Lagos now N500 as at this morning .

The issue now is ;even the N500 looks like a regulated price that has the hand of government ( Which is against what Deregulation stands for ) .

What happens to the forces of demand and supply that was meant to determine the price ?

This country na one kain country sha

BlueRayDick:
The average Price in Lagos now N500 as at this morning .

The issue now is ;even the N500 looks like a regulated price that has the hand of government ( Which is against what Deregulation stands for ) .

What happens to the forces of demand and supply that was meant to determine the price ?

This country na one kain country sha

I don't think so. You know the price of diesel has also come down to 500+. I think the price will now fluctuate will crude oil prices. We should expect to pay as high as 900 naira per litre if crude rises.

At this juncture, fuel and Diesel generator and motor, which is more efficient?

seankafor:
At this juncture, fuel and Diesel generator and motor, which is more efficient?

Diesel burns slowly so will be cheaper.

I know there are issues around the quality diesel sold in this country but I don't know much about it.

odizeey:
Hehehe. Tinubu and his supporters thinks otherwise.

So Obi, Atiku and their supporters think Nigeria is not great? Only Tinubu's supporters think so? You that just called Nigeria a great nation are you a Tinubu supporter?

I don't care about party affiliation. Nigerians should just stop whining themselves.

Itsrm:
I don't think so. You know the price of diesel has also come down to 500+. I think the price will now fluctuate will crude oil prices. We should expect to pay as high as 900 naira per litre if crude rises.

I will like them to do an analysis of how the whole pricing thing will play out. They should educate us and put the information out there and not making us do guess work.

They should state true pictures of things unequivocally.

Smhs

BlueRayDick:
I will like them to do an analysis of how the whole pricing thing will play out. They should educate us and put the information out there and not making us do guess work.

They should state true pictures of things unequivocally.

You want our politicians to tell you all these...



Like seriously??

afrodoc2:
So Obi, Atiku and their supporters think Nigeria is not great? Only Tinubu's supporters think so? You that just called Nigeria a great nation are you a Tinubu supporter?

I don't care about party affiliation. Nigerians should just stop whining themselves.

I'm just speaking on behalf of Tinubu not others. Up Tinubu

Oladeji245:
Yesterday. Marketers to blame,subsidy is still till June ending.
Today. Nnpc price has jumped up, no more blaming marketers but another round of shalaye.
E tii yaa werey sir. Ori yin o pe raraa.

the explanation for intelligent people who are able to read and comprehend.

it was obviously not intended for you

Itsrm:
Diesel burns slowly so will be cheaper.

I know there are issues around the quality diesel sold in this country but I don't know much about it.

cc gloriousgbola

BlueRayDick:
I will like them to do an analysis of how the whole pricing thing will play out. They should educate us and put the information out there and not making us do guess work.

They should state true pictures of things unequivocally.

unfortunately there is still regulation which is why we have fixed prices. the pricing looks to me like ex depot plus estimated cost of delivery. being that most product is coming in through lagos. if ph refinery comes up, then the price may drop within that axis.

seankafor:
cc gloriousgbola

litre for litre diesel is more efficent than petrol. which is why it is used in heavy duty vehicles and large generators

the k-leg is that diesel sold in nigeria is dodgy. there was a report to the effect that the diesel imported in nigeria is roundly rejected by the rest of the world. so if you have a state of the art gen, you may have issues. but all those chinko gen, they will probably run .

GloriousGbola:
the explanation for intelligent people who are able to read and comprehend.

it was obviously not intended for you

You’re actually not intelligent.
You’re a shameless and unrepentant asslicker

BlueRayDick:
I will like them to do an analysis of how the whole pricing thing will play out. They should educate us and put the information out there and not making us do guess work.

They should state true pictures of things unequivocally.

I do agree. The exact details should be made public.

Traders in Onitsha,aba,Yola,kano,Makurdi,Uselu and Benin oba markets,your queen is here whom you will be paying homage,tax and levies to..IYALOJA OF NIGERIA,The First Daughter of the FRN?

https://www.nairaland.com/6436329/court-stops-folasade-tinubus-daughter


Seyi sef go get office and post of The first son of federal republic of nigeria,lmao

Na MC oluomo remain.

Amigoss:
Traders in Onitsha,aba,Yola,kano,Makurdi,Uselu and Benin oba markets,your queen is here whom you will be paying homage,tax and levies to..IYALOJA OF NIGERIA,The First Daughter of the FRN?

https://www.nairaland.com/6436329/court-stops-folasade-tinubus-daughter


Seyi sef go get office and post of The first son of federal republic of nigeria,lmao


Na MC oluomo remain.

Wetin come be iya-l-oja again?

Segedinho:
You want our politicians to tell you all these...



Like seriously??

Why not?

BlueRayDick:
Why not?

Emphasis on our politicians