₦airaland Forum

nlfpmod:
https://www.arise.tv/nnpc-admits-debts-to-suppliers-impacting-availability-of-petrol-in-nigeria/#google_vignette

Moony45:
The truth of the fuel supply issue is that, they owe a lot of money to the suppliers into the future because advance fuel supply and the subsidy scam!

Olaide1295:
Petrol in Nigeria is still subsidized. Real price should be 1200/Litre today.

nairalanda1:
The reason why there is a debt is simple.

Fuel is imported into this country at N1117 naira per liter, and the offical price at the pump is below N700. Heck even black market sells at N1000 per liter max

And at the end, NNPC sustains a loss doing so, and the government...thanks to a bad economy, corruption and the fact that Nigeria is not running an economy that earns money....can\'t pay enough to cover the loss.

That has been the problem for years.]


But because most Nigerians still haven't left OJota, they still want cheap fuel

As we can see, cracks be develop

simonflame:
In my opinion, this is a ploy to justify an increase in PMS retail price.

nlfpmod:
https://www.arise.tv/nnpc-admits-debts-to-suppliers-impacting-availability-of-petrol-in-nigeria/#google_vignette

frog12:
they have to sack mele kyari. he's just incompetent

nairalanda1:
The reason why there is a debt is simple.

Fuel is imported into this country at N1117 naira per liter, and the offical price at the pump is below N700. Heck even black market sells at N1000 per liter max

And at the end, NNPC sustains a loss doing so, and the government...thanks to a bad economy, corruption and the fact that Nigeria is not running an economy that earns money....can\'t pay enough to cover the loss.

That has been the problem for years.]


But because most Nigerians still haven't left OJota, they still want cheap fuel

As we can see, cracks be develop

nlfpmod:
https://www.arise.tv/nnpc-admits-debts-to-suppliers-impacting-availability-of-petrol-in-nigeria/#google_vignette

citizenisb:
“I will tell you what I know and I will tell you what I don’t know. I know Gen. Muhammadu Buhari. He served under me in the military. His characteristics that I know, his behaviour that I know, he has not deviated from them. He was never a perfect man, he is not a perfect man and no leader can ever be a perfect man because they are human beings. But if you read my book, what I said about him is correct. He is not a hot person when it comes to economy. He is not a very hot person when it comes to foreign affairs. But he will do well in matters of military and he will do well in fighting Boko Haram.”

http://www.punchng.com/buhari-not-sound-economy-foreign-affairs-obasanjo/

Basicend:
Oga, the core of the problem is making of the naira useless. The variance in real payment terms keeps getting wider as a result.

The thinkless and clueless man you are trying to defend has no idea of what he has put himself into.

He met naira at around #750 or so. If he had left it pegged at around that rate, the end price (landing cost) of imported pms now would still be at around N630.

Esthered:
I thought they made profit in the audited financials released. What did they do with the profit?