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Nairaland Forum / Nairaland / General / Politics / NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement (69573 Views)
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Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by maasoap(m): 4:30pm On May 31, 2023 |
InvertedHammer: Did you collect money? Were you given the money? Because, I clearly remember that there was no money at the time to buy votes due to cashless policy. Stop saying nonsense |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by maasoap(m): 4:32pm On May 31, 2023 |
DOptical: Lol. I thought you were trying to put the blame on Nigerians .. Might as well tell us why NNPC released the new price that doesn't reflect subsidy? 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Dbegining: 4:33pm On May 31, 2023 |
AntiChristian: Stop saying nonsense oga. 1 Like
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Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Akharmony: 4:34pm On May 31, 2023 |
Not all new on this platform are verifies. Small time you hear another different story. .I will listen to Tvc nees to confirm any news updates |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Dbegining: 4:35pm On May 31, 2023 |
maasoap: Transfers were made. Or have you forgotten Abike the Diaspora agency boss that confirmed the one in Ikorodu? 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by DOptical: 4:37pm On May 31, 2023 |
maasoap: Aren't they Nigerians? |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by ken6488(m): 4:37pm On May 31, 2023 |
As far APC members buy small Same amount I am okay with it 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by sonnie10: 4:38pm On May 31, 2023 |
The main reason they quickly implemented this policy is to favor the up coming refinery. There was nowhere the new refinery would break even at the old pricing. Now they can comfortably enter the market at a price that is profitable. It has always been like that with all their other products. Government backed policies is what they ride to Forbes . 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by blowjohn(m): 4:41pm On May 31, 2023 |
NzogbuNzogbu:. Politicians always talk about cushions the effects of policies. In any case, it's too early to criticize tinubu. Let's see if there will be some cushioning or if they have a plan in the offing |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by blowjohn(m): 4:42pm On May 31, 2023 |
Hotwest: This ur theory get as e be |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by grandstar(m): 4:42pm On May 31, 2023 |
obaidan: Who told you more refineries will reduce the price? Fun facts: Brent crude is currently 49cents per litre. Multiply by the black market rate of 700 and you have 343.per litre. That is the price before refining costs have been added. Fun fact: The price is of crude oil is decided internationally. If tomorrow, the price increases to 65cents per litre, the price will go up, even if there are 10,000 modular refineries. They can't purchase their basic raw material at a certain price and sell below production cost. Fun fact: Refineries are exposed to massive losses They can buy crude oil at $80 dollars and by the time they want to refineries and sell their refined products,the crude oil price might have crashed to $50. This bankrupted Otedola in the 2009. He bought diesel in 2008 when the cride oil price was $128/barrel and it had collapsed to $35 in 2009. For refineries to protect themselves from such volatility, they hedge themselves against such price swings by engaging in forward contracts, options etc. Perhaps, that's why those in refining call it a "lousy business" I would appreciate it if an economist 4play or Blue3k, omohayek can explain this better. Please help out with forward contracts and options.(not compulsory though) 4 Likes 1 Share |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by baby124: 4:43pm On May 31, 2023 |
If subsidy has been prepaid for June, who ever it was paid to should give the FG a refund since they have increased the prices. 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by NzogbuNzogbu: 4:43pm On May 31, 2023 |
blowjohn:it's not to early for nigerians to be suffering what they didn't suffer under buhari with the same subsidy gone? Dey play 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by blowjohn(m): 4:44pm On May 31, 2023 |
U must be ignorant not to know what is happening. The cabals are fighting back. Nnpc is fighting back. |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by SenatePresdo(m): 4:44pm On May 31, 2023 |
GeneralPula: June subsidy that has already been paid by Buhari's Govt. Tinubu use busy body go stop am on May 29th. Now See the effect of an unsound mind making a hasty policy that will affect 200 million people. 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by blowjohn(m): 4:44pm On May 31, 2023 |
NzogbuNzogbu: U must be ignorant not to know what is happening. The cabals are fighting back. Nnpc is fighting back. |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Way4orward: 4:44pm On May 31, 2023 |
Soon Nigerians will understand the meaning of cassava and agbado 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Idaytesj29(m): 4:45pm On May 31, 2023 |
obaidan: Govt should not subsidize anything. Enough is enough |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by BreconHills(m): 4:45pm On May 31, 2023 |
priceactionx: Modular refineries are private. They don't need commissioning by Govt. There are 2 ready to come online very soon. Next up is a single fx rate. Everybody put on your seat belt and prepare for turbulence. The good news is that the plane will land instead of the mid air explosion that was looming. |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by NzogbuNzogbu: 4:45pm On May 31, 2023 |
blowjohn:lol, corruption fighting back Buhari promax 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AntiChristian: 4:48pm On May 31, 2023 |
Yeah, i still have hope! The money being given to some cabals as subsidy should stop! cassette: |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AllDModsAreMaad: 4:48pm On May 31, 2023 |
Angelfrost: The good thing is they will have to deal with it while those that saw it before now already had expectations of whatever will happen and has such made plans and moves on how to overcome it. This government to me will favour the second set of people more than the first set. 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by blowjohn(m): 4:49pm On May 31, 2023 |
NzogbuNzogbu: No wahala na |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AntiChristian: 4:49pm On May 31, 2023 |
richboy7: Alright! Do mean he should get funds to cushion the effect subsidy would cause and still be paying trillions for subsidy concurrently? |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Idaytesj29(m): 4:50pm On May 31, 2023 |
Dbegining:He said so many unrealistic Disneyland policies that has no guarantees. No pain, no gain. Obi supporters want to fix the country without sacrifices. Dey play |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by BreconHills(m): 4:50pm On May 31, 2023 |
Angelfrost: Remove subsidy without pain. The person you are replying must be high. Every nation goes through economic and social shocks before transformation. Black people just have a problem managing their lifestyle believing that life owes them. Palliatives are another scam and fraud. The market will self correct. Give it five months or even less. Have we not just passed through a violent cash confiscation policy? We can do this and we will. We are not called Nigerians for nothing. 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AntiChristian: 4:51pm On May 31, 2023 |
Abeg watch the video below and see Peter Obi say it Himself! No 50% in there! https://twitter.com/Pres_Adebayo/status/1663654854680625155 If you remove 50% Subsidy, are you still not subsidizing 50%? Dbegining: |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Diesel1(m): 4:52pm On May 31, 2023 |
If you see opportunity take off |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AntiChristian: 4:53pm On May 31, 2023 |
Abeg watch the video below and see Peter Obi say it Himself! No 50% in there! https://twitter.com/Pres_Adebayo/status/1663654854680625155 If you remove 50% Subsidy, are you still not subsidizing 50%? mdshell: |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by Bizibi(m): 4:54pm On May 31, 2023 |
Angelfrost:honestly!! Don't know how one will adjust to this.....I pray they do something about the minimum wage or any other way to ease the pain. People really suffered under buhari administration,they should not go through another phase. 1 Like |
Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by AntiChristian: 4:55pm On May 31, 2023 |
Naijanascam: Who copied who?
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Re: NNPC Confirms Increase In Pump Price Of Fuel, Releases Statement by ibinaboonline: 4:56pm On May 31, 2023 |
500 to 600/liter in Aba today. How much for your side? |
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