Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

nairalanda1:


Yeah, unless there is a massive subsidy of some sorts, or the people selling crude decide to sell it at a lower price, or the price of crude crashes below 50 dollars a barrel, fuel prices can't reach N200 or less.

The only way I see the thing happening is if the government earns us more and more in dollar revenue, which means the value of the naira goes up again, MAYBE, fuel prices would be 'lower'

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Goodlady:
I once suggested we should contribute money to FG to fix the refineries. May be each Nigerian should donate at least N1000.
If at least 50 million people donate N1K each, how much?
Cos Nigeria matter is like a cursed child who's means of success has been blocked. No matter the struggle, the child dies in penury.
How can a country be like Nigeria blessed with crude oil be importing finished petroleum products at exorbitant rate which is above the masses reach and we can't produce the petrol here?

lincontee:


Your submission is very wrong. What is subsidy in the first place? How will FG introduce subsidy to crude oil that you drill locally to functional refineries.
Local Production and local consumption is not to be determined by any international bodies like Forec. You produce crude oil locally, you refine locally and consume locally. Your Government locally determines the selling price base on the cost of Production.
Dollar or forex comes to play when you dealing with international communities.

Tareq1105:
Tinubu should give the Refinery out for private individuals to run after the repair.

This is to avoid sabotage usually experienced whenever refineries are fixed and working well. Marketers would get paid agents to vandalize the refinery for their selfish interest.

Government or NNPC should not run it. They would spoil it again and again.


With just a phone call from the caliphate. 1000 trucks of refined products go pass enter Niger and nothing go happen

Another important issue is smugglers. Security agents at the borders should not allow our locally refined products to the smuggled to Cameroon, Chad, Niger Republic, Togo, and Benin Republic. If not done, Nigerians would not benefits from the gains of refining our products locally.

Goodlady:

Using such suggestion is like feeding FG with poison. If they are so corrupt to eat such money, then the illiterate north that they deceive more ll know FG is indeed corrupt than sheytan. Such embezzlement can trigger revolution.
If someone give you excuses of lack of funds, give the person funds and see if it ll be used well before taking judgement!

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

cjudy:


IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth

leisuretym:
Of course, it will sell less than 150 because the price won’t have to do with dollar rate, Drill and refine, the activities will also create employment , but the selfish senseless people in government won’t do it

Omooba77:

https://punchng.com/petrolll-sell-less-than-n200-per-litre-with-functional-refineries-ipman/

nairalanda1:


Libya also has

1.A population of about 8 million people(we have over 200 million people)

2.A crude oil production rate that is slightly above ours.

As a result they can afford to subsidies petrol massively AND pay for good refineries...without breaking a sweat. Basically they can eat their cake and have it.

Try Venezuela...fuel costs about N14 or less, and they have bad refineries

ecolime:

Lip service solution. We sabi them

IfnobeGod20:

I think you should have explain more better than making it seems is not possible. Yes, as a member of OPEC, Nigeria cannot sale below the international price, that's a well known fact but that doesn't mean the price of the pms won't crash if the crude is locally refined because the lifting and landing costs would have been taken care of. As at today nobody knows the lifting and landing costs, everything is done in secrecy and that is telling on the poor masses because the burden is transfered to them to bear now.
The question now is:
What is the lifting cost of the crude oil?
What is the cost if refining the crude outside per liter?
What is the landing cost of the refined pms?
What is the OPEC price per liter of pms?
What would be the production cost in Nigeria after crude refine?
All these factors must be taking to consideration before finally submission can be arrived at. If IPMAN can come out and say, PMS can be sold as low as 200 naira, who are you and mine to say it is a lie?
Again, the question is, what is the price of PMS in Iran, in Saudi Arabia and other countries that have crude oil like Nigeria?

ecolime:

Even with this, this same IPMAN will still look for ways to rip off the people so long they form part of the value chain. Those guys are economic saboteurs.

MrSly:


How on earth did you get such impression. You don't buy fuel nd someone who imports fuel is telling you sth and you are bent on dishing out u informed reply. Perhaps you are defending g an amount paid.

benzion72:


Ngelele people. How much is fuel in Libya, Agola, Saudi Arabia. Is not our crude on our land. Why must we suffer ourselves listening to world bank and IMF

TwoPheus:
Why would FG share N5b each to every state when we have refineries to fix?
Xmas Bonanza to governors.

Omooba77:

https://punchng.com/petrolll-sell-less-than-n200-per-litre-with-functional-refineries-ipman/

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Ever8090:
not only our leaders we are all terrible

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Goodlady:
I once suggested we should contribute money to FG to fix the refineries. May be each Nigerian should donate at least N1000.
If at least 50 million people donate N1K each, how much?
Cos Nigeria matter is like a cursed child who's means of success has been blocked. No matter the struggle, the child dies in penury.
How can a country be like Nigeria blessed with crude oil be importing finished petroleum products at exorbitant rate which is above the masses reach and we can't produce the petrol here?

sweetgala:


It is impossible to pay less than 200N for PMS unless government introduce subsidy. Take that statement to the bank anyday anytime.

The spare parts that would are used in the refinery would also be imported in dollars I do hope you realize.

I'm currently paying €1.60/ltr for PMS