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Nairaland Forum / Nairaland / General / Politics / NNPCL To Cut Fuel Import From August (20798 Views)
Dangote Petrol Supply: FG May Slash N6 Trillion Fuel Import / NNPCL To Construct Another International Gas Pipeline To Europe / We Didn’t Give Dangote License For Fuel Import ― NNPCL (2) (3) (4)
Re: NNPCL To Cut Fuel Import From August by Helpfromabove1(m): 10:07am On Jun 08, 2023 |
H |
Re: NNPCL To Cut Fuel Import From August by ppogba: 10:07am On Jun 08, 2023 |
They are simply cutting down because the truth about our consumption is about to be revealed. 1 Like |
Re: NNPCL To Cut Fuel Import From August by oluwaseyi0: 10:08am On Jun 08, 2023 |
if NNPC is the sole/only importer, they who are we paying subsidy to? |
Re: NNPCL To Cut Fuel Import From August by bobbiiee: 10:08am On Jun 08, 2023 |
I still don't understand why the government could not build a refinery in 8 years or license other companies to build so that there can be competition. 1 Like |
Re: NNPCL To Cut Fuel Import From August by Youngkhaleepha3(m): 10:08am On Jun 08, 2023 |
Dangote the game changer 1 Like
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Re: NNPCL To Cut Fuel Import From August by Kubin: 10:09am On Jun 08, 2023 |
Another monopoly,pms will increase to 1000 and above before December 1 Like |
Re: NNPCL To Cut Fuel Import From August by Iluvmycontr3: 10:09am On Jun 08, 2023 |
kokoA: Don't mind him. Talk is cheap nah 5 Likes |
Re: NNPCL To Cut Fuel Import From August by Bfly: 10:10am On Jun 08, 2023 |
Pls, who is NNPC? Who are they working for? Who is taking the profit? 1 Like |
Re: NNPCL To Cut Fuel Import From August by Slurity(m): 10:12am On Jun 08, 2023 |
CodeTemplar:You are correct but 50% will mean they need to made a commitment of about $9.5billion, can NNPCL afford that within the period without borrowing again? Considering that they are battling with importation at that same time. To be honest with you, I think dangote is fair enough to even allow 20%, and NNPCL is smart enough to get that % too. Not a bad deal if you ask me. 1 Like |
Re: NNPCL To Cut Fuel Import From August by gfelo(m): 10:13am On Jun 08, 2023 |
after 4 years i see them increasing pump price again, una never see anything |
Re: NNPCL To Cut Fuel Import From August by arsenal33: 10:14am On Jun 08, 2023 |
slawomir:bitter obidient spotted 3 Likes |
Re: NNPCL To Cut Fuel Import From August by wahalawahala: 10:14am On Jun 08, 2023 |
CodeTemplar:talk is cheap |
Re: NNPCL To Cut Fuel Import From August by Slurity(m): 10:15am On Jun 08, 2023 |
oluwaseyi0:Major Marketers 1 Like 1 Share |
Re: NNPCL To Cut Fuel Import From August by Kingdemu: 10:17am On Jun 08, 2023 |
slawomir:I thought this guy had sense oo 5 Likes |
Re: NNPCL To Cut Fuel Import From August by Slurity(m): 10:17am On Jun 08, 2023 |
gfelo:We don't care, we knew it will not be easy if we want drastic change. Tinubu got what it takes, we have seen him do it in Lagos. He will surely do it again |
Re: NNPCL To Cut Fuel Import From August by Mandela27: 10:18am On Jun 08, 2023 |
slawomir:no dey do na |
Re: NNPCL To Cut Fuel Import From August by SmartyPants(m): 10:19am On Jun 08, 2023 |
dante0147: Firstly, NNPC was not really the sole importer. Rather there was a complex arrangement. Secondly, the landing cost of fuel is about 266 naira. That is how much marketers buy it per litre from NNPC. Then there is an operational cost of around 35 naira. So the cost of a litre of fuel is around 300 naira. Then the marketers need to add some profit. So if you were buying fuel below 350 naira, that was subsidy at work. |
Re: NNPCL To Cut Fuel Import From August by wizelink(m): 10:20am On Jun 08, 2023 |
Nonsense to the extreme. You can't construct and maintain your own refinery with all the supports and monies pumped into it all these years but have the guts to brag about owning 20% shares in a private conglomerate when it's supposed to be the other way round. Shane on you!!! 1 Like |
Re: NNPCL To Cut Fuel Import From August by amstamon: 10:20am On Jun 08, 2023 |
Re: NNPCL To Cut Fuel Import From August by IMASTEX: 10:28am On Jun 08, 2023 |
SalamRushdie:Don't forget it isn't govt owned but private. A private businessman is highly motivated by profit in view. |
Re: NNPCL To Cut Fuel Import From August by slowice(m): 10:31am On Jun 08, 2023 |
Nothing goes as planned in Nigeria.... Let's wait and see. Corrupt government gives room for corruption to thrive and that is shat is keeping Nigeria down. We need serious and sincere leaders not politicians 1 Like |
Re: NNPCL To Cut Fuel Import From August by Nobody: 10:31am On Jun 08, 2023 |
CodeTemplar:The government too dull... They signed different useless contract at the mercy of the country That's how they signed agreement with Azura Power plant that even if Azura generate light or not to the power grid, the government must pay $20 million dollars monthly to Azura... |
Re: NNPCL To Cut Fuel Import From August by crowther15(m): 10:33am On Jun 08, 2023 |
SalamRushdie:I hope NNPC decision is not an attempt to keep on the price of PMS ridiculously high. 2 Likes |
Re: NNPCL To Cut Fuel Import From August by TruthinAction: 10:36am On Jun 08, 2023 |
If Tinubu do not fix our refineries within six months if he is still in power, then he is as clueless as his predecessor. |
Re: NNPCL To Cut Fuel Import From August by lexy2014: 10:37am On Jun 08, 2023 |
PlutoChief: Wetin BAT do? 1 Like |
Re: NNPCL To Cut Fuel Import From August by gfelo(m): 10:38am On Jun 08, 2023 |
you dont care abi? soon you will see that is not subsidy that kept Nigeria under developed it is corruption, how can Tinubu fight corruption when there is so many allegations of corruption over him, now we have case of Nigeria Airway, how they hired fake plane right? let him start by probing them you will see all his case on the following listed below comes out. 1) Drug baron 2) Dual citizenship 3) Bullion van 4) Age forgery Slurity: 2 Likes |
Re: NNPCL To Cut Fuel Import From August by lexy2014: 10:39am On Jun 08, 2023 |
Slurity: What change are you talking about? Change from what to what? What did Tinubu do in Lagos that he will surely do again? 1 Like |
Re: NNPCL To Cut Fuel Import From August by oluwaseyi0: 10:40am On Jun 08, 2023 |
Slurity:apologies but I still don't get it, is it not NNPC that is selling to the major marketers or are the major marketers importing the fuel themselves? if marketers are importing fuel and selling it at a reduced cost to the cost of importation/overhead then subsidy will make sense as it is the payment for selling at reduced rate but if NNPC is the only one importing fuel then selling to major/minor marketers at a certain price which definitely will be the subsidized price then only NNPC should lay claim to a subsidy refund, marketers can't get fuel from NNPC for less than 200, then go back to same NNPC to claim susbidy to the tune of billions If I'm mixing up something above please kindly educate me 1 Like |
Re: NNPCL To Cut Fuel Import From August by OlujobaSamuel: 10:40am On Jun 08, 2023 |
dante0147:I hope I can explain better but let me try the little way I can. Before Bubu, marketers import the fuel then sell at a fixed price, fg then reimburse them of the difference which is usually high as they source FX wherever they can. When Bubu came in, he claimed subsidy wasn't real Abi Na fraud, so the system was changed. That was what prompted them(Bubu n NNPC) announcing that subsidy has been removed during his time, it was never removed, it was restructured or rebranded or reanything you can think of, but not removed. NNPC is now the sole importer, so they sell at a determined price to the marketers, however, the marketers are responsible for logistics (diesel and storage especially), which is usually determined by FX, so the fg pays the difference to the marketers. With the removal now, marketers can source for FX anywhere, buy anywhere, and sell at any amount. |
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