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Nairaland Forum / Nairaland / General / Politics / Local Refining Will Reduce Petrol Price By N70/ltr – Marketers (24829 Views)
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Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Islie: 12:24pm On Aug 05, 2023 |
Oil marketers have said local refining will save at least N70 per litre off petrol price when it is fully operational. https://punchng.com/local-refining-will-reduce-petrol-price-by-n70-ltr-marketers/ 10 Likes
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Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Acekidc4(m): 12:24pm On Aug 05, 2023 |
🙄🙄How Significant is ₦70 When you remove it from ₦700/Litre🤨what can that one do🤨 Local Refineries should take back our Fuel Price to atleast ₦170/Litre. Anything more than that is Ripping!! 150 Likes 12 Shares |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by PlayerMeji: 12:25pm On Aug 05, 2023 |
They will soon label it a propaganda 3 Likes 4 Shares |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by SmartPolician: 12:25pm On Aug 05, 2023 |
You don't know that resources, time and expertise go into extracting crude oil, and E&P players must sell to refineries to make profit. Local refineries will only bring about product availability and competition, but there's no guarantee that it will lead to price reduction. 17 Likes 3 Shares |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by AwokenVawulence: 12:28pm On Aug 05, 2023 |
Av |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by CodeTemplar: 12:30pm On Aug 05, 2023 |
Local refiners are already eyeing that N70 as extra profit, they want to sell at Intl market price irrespective of the advantages local refining comes with. This is where govt refineries are suppose to step in and drivevdown prices. 9 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by CodeTemplar: 12:38pm On Aug 05, 2023 |
SmartPolician:it is suppose to lead to lower prices because they no longer ship out crude and ship in petrol. Transport cost is largely down. Labour cost too is significantly lower. Import taxes are gone too. 23 Likes 1 Share |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by CodeTemplar: 12:43pm On Aug 05, 2023 |
Acekidc4:that's about 7k per 100Litre and better than nothing. Should the difference increase further, neighbouring nations will turn to smugglers to get from Nigeria and refiners will react accordingly by closing the gap or eliminating it all together because their foreign buyers now get it chea locally and smuggle it out. 2 Likes 3 Shares |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by SmartPolician: 12:44pm On Aug 05, 2023 |
CodeTemplar: True, you have a point. But then, you have to consider that the cost of production is cheaper outside Nigeria. This is from former NNPC GMD Ibe Kachikwu because Nigeria lacks enabling infrastructure.... unless the government has fixed those things now. https://www.google.com/amp/s/www.vanguardngr.com/2016/03/its-cheaper-to-import-petrol-than-refine-locally-kachikwu/amp/ 3 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by accordadoga26(f): 12:44pm On Aug 05, 2023 |
PlayerMeji: Leave them alone. Let them keep seeking for the downfall of Nigeria. They have ruined their chances with their ill-manners. No Igbo man will sit in Aso Rock. By 2095 when their great great great grandchildren ask them why in the history of Nigeria they have not produced a president, dem go explain tire. No evidence 13 Likes 1 Share |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by CodeTemplar: 12:51pm On Aug 05, 2023 |
The markettets prefer that big enough margin that allows them smuggle it out to sell in neighbouring nations. It is now marketers versus refiners. They either unionize or choke. 3 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by slivertongue: 12:51pm On Aug 05, 2023 |
As if it is not NIGERIA again. Jobbers 1 Like |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Iykopee(m): 12:56pm On Aug 05, 2023 |
This is why the refineries won't work. Importation is where they make their money. Thieves. 17 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by gaby(m): 1:01pm On Aug 05, 2023 |
The same way local manufacturing of cement has reduced its price by #2k per bag. All of una join head dey mad together... 17 Likes 1 Share |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Ofunaofu: 1:02pm On Aug 05, 2023 |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by oluseyiforjesus(m): 1:02pm On Aug 05, 2023 |
Ok |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Creamypie(m): 1:03pm On Aug 05, 2023 |
Which is y refineries will never be fixed |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by chris20000: 1:03pm On Aug 05, 2023 |
F |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Abdulsaddiq: 1:03pm On Aug 05, 2023 |
Everything will be like rice 😃 Shey na local Abi foreign fuel? Like” I don’t like local weh Dey spoil pump” 5 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Menclothing: 1:03pm On Aug 05, 2023 |
Most people here don’t understand English 70 Naira will be saved from world price per Lit Crude price fluctuations reason fuel is high Alll over the world currently is crude price If it’s 612 per lit world price minus 70 Naira 70 Naira is cost of import on a lit 2 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Curious345: 1:04pm On Aug 05, 2023 |
😂😂🪖😱😱🙆🪵🙆 |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Nahunger(m): 1:05pm On Aug 05, 2023 |
Lol You want me to believe selfish people like you will cut your profit to benefit the ravaged mases, throw another reasonable lie 2 Likes |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by dydx2020(m): 1:05pm On Aug 05, 2023 |
Naija |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Acekidc4(m): 1:06pm On Aug 05, 2023 |
CodeTemplar: Yes you are Right Sir |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by MEEVEET: 1:07pm On Aug 05, 2023 |
That is impossible... There is no now u can refine fuel in Nigeria and sale below 900 and make profit impossible NNPC is taking huge loss selling fuel at 617 ... Fuel should sale at 900 minimum in Nigeria based on the exchange rate 1 Like |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by ChronicGp(m): 1:07pm On Aug 05, 2023 |
70 Naira na big money now 70 times 1million |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Jsucre(m): 1:07pm On Aug 05, 2023 |
Mad o |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by ecolime(m): 1:08pm On Aug 05, 2023 |
IPMAN is a mafia association. |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by Ofunaofu: 1:08pm On Aug 05, 2023 |
MEEVEET: Which loss again is NNPCL taking 1 Like |
Re: Local Refining Will Reduce Petrol Price By N70/ltr – Marketers by SensualMan: 1:09pm On Aug 05, 2023 |
At Agbado Oil and gas station 1 Like
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