₦airaland Forum

The price discrepancy between imported and locally refined PMS is both surprising and perplexing. One would typically expect that fuel refined within the country would be cheaper due to reduced logistics: transportation, and other importation costs, like Importing fuel from countries like Malta involves a series of costs, which include purchase price, shipping, insurance, and port handling fees. However, the reverse seems to be the case.

This scenario has left many Nigerians questioning the logic behind the NNPC's pricing strategy. The corporation sells Premium Motor Spirit (PMS) at ₦580 per liter when imported from Malta, but at ₦897 per liter when sourced from a local refinery. This stark difference in pricing has sparked concerns and raised important questions about the operations and decision-making processes within the NNPC.

Stop eeeeettttttt!!!!

Zionmdde:
Stop eeeeettttttt!!!!

This life no balance. I don't understand why I must suffer the consequences of other people's wrong choices. How I wish and pray that only the idiots that campaigned and voted for this failure enjoy the dividends of their stupidity.

Nigeria is crime scene

Peter Obi was right

The attrition Dangote suffered before now was to to agree on percentage sales benefits to the corrupt system. Dangote has agreed to give them their percentage and factoring this in tool the amount to what it is. Remember that Dangote petrol is of more quality that what was coming from Malta. That is the reason for the wide variety.

So called 'Malta' price was heavily subsidised by NNPC.

Now NNPC has announced they are in massive debt, may be as a result of the subsidy it was paying.

With Dangote, it seems subsidy is finally going to go away or be reduced substantially.

If Republic of Benin, Ghana, Niger Republic etc can buy fuel at over N1300 per litre, we must be willing to accept N850 or more per litre in Nigeria unless we want subsidy to continue and we bankrupt Nigeria.

Cheap petrol is not a constitutional right or an entitlement.

Most of the fuel we import from oversease is made in substandard refineries that refine fuel badly. That is why all this imported fuel we have been using for years has been bad and awful

Dangote fuel is made to standard in a standard refinery....so as such would cost more.

DeLaRue:
So called 'Malta' price was heavily subsidised by NNPC.

Now NNPC has announced they are in massive debt, may be as a result of the subsidy it was paying.

With Dangote, it seems subsidy is finally going to go away or be reduced substantially.

If Republic of Benin, Ghana, Niger Republic etc can buy fuel at over N1300 per litre, we must be willing to accept N850 or more per litre in Nigeria unless we want subsidy to continue and we bankrupt Nigeria.

Cheap petrol is not a constitutional right or an entitlement.

The reality is in Ghana feul is only used for transport. They have stable light. We here use fuel for everything. Transport,home, store etc.

They don't really feel the heat in Ghana.

Was FG buying it at N580 from Malta or at above 1100 and and then subsidizing it for Nigerians but stopped when Dangote was about to step in?
It would have been cheaper to buy from Dangote because cost of moving crude to Malta and petrol back to Nigeria plus blending cost and import duties are out of the way. APC playing politics with Dangote while romancing him to take credits for his monumental achievements.
It means there are thieves within the govt who increased their cut because Dangote stepped in.

nairalanda1:
Most of the fuel we import from oversease is made in substandard refineries that refine fuel badly. That is why all this imported fuel we have been using for years has been bad and awful

Dangote fuel is made to standard in a standard refinery....so as such would cost more.

has anyone gone to jail for poor fuel import or you just created that content/narrative?

chrisxxx:
The attrition Dangote suffered before now was to to agree on percentage sales benefits to the corrupt system. Dangote has agreed to give them their percentage and factoring this in tool the amount to what it is. Remember that Dangote petrol is of more quality that what was coming from Malta. That is the reason for the wide variety.

una sabi play defense oo...continue..

Standing5:
Was FG buying it at N580 from Malta or at above 1100 and and then subsidizing it for Nigerians but stopped when Dangote was about to step in?
It would have been cheaper to buy from Dangote because cost of moving crude to Malta and petrol back to Nigeria plus blending cost and import duties are out of the way. APC playing politics with Dangote while romancing him to take credits for his monumental achievements.
It means there are thieves within the govt who increased their cut because Dangote stepped in.

sorry ooh I thought drug lord removed subsidy from day 1 in office

So you are just knowing that Dangote is a capitalist 😂

Goodvibes007:
So you are just knowing that Dangote is a capitalist 😂

Dangote is a business man, leveraging on a broken system to earn more.

I actually admire him. But in his defence I read somewhere that FEC would determine pms price.

And suddenly FEC is silent.

Cost of tp is astronomical.
Don't even know which is cheaper again: road or flight.

But the fear of kidnap on our highways is the beginning of wisdom.

This life, we need to use our heads. So that we won't join the poor keep getting poorer, whilst the rich keep getting richer.

Standing5:
Was FG buying it at N580 from Malta or at above 1100 and and then subsidizing it for Nigerians but stopped when Dangote was about to step in?
It would have been cheaper to buy from Dangote because cost of moving crude to Malta and petrol back to Nigeria plus blending cost and import duties are out of the way. APC playing politics with Dangote while romancing him to take credits for his monumental achievements.
It means there are thieves within the govt who increased their cut because Dangote stepped in.

The question is, why does the government feel more comfortable to subsidise fuel imported from Malta, but finds it difficult to subsidise the fuel refined locally?

Standing5:
has anyone gone to jail for poor fuel import or you just created that content/narrative?

LOL...you think I am lying.

The reason why we have been importing poor fuel is simple...it is cheaper to subsidise. If we imported the quality stuff...subsidy costs would have long since eaten our budget, our loans and money we don't have.

Infact part of the reason why some people have been hurrying up Dangote is because the European governments have been trying to close down such refineries because they violate their environmental standards.

It's not just Nigeria by the way.

chrisxxx:
The attrition Dangote suffered before now was to to agree on percentage sales benefits to the corrupt system. Dangote has agreed to give them their percentage and factoring this in tool the amount to what it is. Remember that Dangote petrol is of more quality that what was coming from Malta. That is the reason for the wide variety.

You deceive yourself if you believe Dangote is himself removed from the problem that is Nigeria.

Standing5:
has anyone gone to jail for poor fuel import or you just created that content/narrative?

Has anyone gone to jail for corruption since this administration took office? Come on naw!

DeLaRue:
So called 'Malta' price was heavily subsidised by NNPC.

Now NNPC has announced they are in massive debt, may be as a result of the subsidy it was paying.

With Dangote, it seems subsidy is finally going to go away or be reduced substantially.

If Republic of Benin, Ghana, Niger Republic etc can buy fuel at over N1300 per litre, we must be willing to accept N850 or more per litre in Nigeria unless we want subsidy to continue and we bankrupt Nigeria.

Cheap petrol is not a constitutional right or an entitlement.

MPa gi

Pakkioqe:
oh God.
Y I dey dsame country with people lyk u sef ?

🤣🤣🤣🤣🤣🤣🤣

ibabz:
The price discrepancy between imported and locally refined PMS is both surprising and perplexing. One would typically expect that fuel refined within the country would be cheaper due to reduced logistics: transportation, and other importation costs, like Importing fuel from countries like Malta involves a series of costs, which include purchase price, shipping, insurance, and port handling fees. However, the reverse seems to be the case.

This scenario has left many Nigerians questioning the logic behind the NNPC's pricing strategy. The corporation sells Premium Motor Spirit (PMS) at ₦580 per liter when imported from Malta, but at ₦897 per liter when sourced from a local refinery. This stark difference in pricing has sparked concerns and raised important questions about the operations and decision-making processes within the NNPC.

both Malta and Dangote fuel cost over 1000. The nnpc has been paying subsidy . They have arbitrarily decided to reduce the subsidy on it. NNPC says its owning international refineries 6billions usd or so

ednut1:
both Malta and Dangote fuel cost over 1000. The nnpc has been paying subsidy . They have arbitrarily decided to reduce the subsidy on it. NNPC says its owning international refineries 6billions usd or so

But we were told that Dangote Fuel would completely do away with the need for subsidy. Is that no longer true?

ibabz:
The price discrepancy between imported and locally refined PMS is both surprising and perplexing. One would typically expect that fuel refined within the country would be cheaper due to reduced logistics: transportation, and other importation costs, like Importing fuel from countries like Malta involves a series of costs, which include purchase price, shipping, insurance, and port handling fees. However, the reverse seems to be the case.

This scenario has left many Nigerians questioning the logic behind the NNPC's pricing strategy. The corporation sells Premium Motor Spirit (PMS) at ₦580 per liter when imported from Malta, but at ₦897 per liter when sourced from a local refinery. This stark difference in pricing has sparked concerns and raised important questions about the operations and decision-making processes within the NNPC.

Whether it is from Malta or outer space, the subsidy needs to go and the price of petrol fully deregulated.

A litre of crude oil cost 720, refining costs excluded. How then does the government sell at 580/litre?

The word out on the street is that government is owing oil traders $6bn. The government does not have money to continue subsidizing petrol.

Petrol from Malta is most likely sanction busting petrol from Russia.

Kobojunkieee:
But we were told that Dangote Fuel would completely do away with the need for subsidy. Is that no longer true?

nobody said so lol. Cement for example is not cheap even tho its produced here. Landing cost of the imported fuel was around 1100. Before dangote cost of production will reduce it may take time. Allegedly it currently costs him about 1300 which NNpC will subsidize.

If them explain 9ja to you and me. We no fit understand 😂

COMRADES, so our prayers have been said in vain

ednut1:
nobody said so lol. Cement for example is not cheap even tho its produced here. Landing cost of the imported fuel was around 1100. Before dangote cost of production will reduce it may take time. Allegedly it currently costs him about 1300 which NNpC will subsidize.
If them explain 9ja to you and me. We no fit understand 😂

Dem talk am oo!
https://www.channelstv.com/2024/07/24/dangote-refinerys-successll-end-fuel-subsidy-ex-minister-tells-fg/
https://www.reuters.com/business/energy/end-nigerian-fuel-subsidy-set-squeeze-europes-refiners-2023-07-28/
https://dailypost.ng/2024/07/22/people-in-nnpc-dont-want-subsidy-scam-to-end-emir-sanusi/

Kobojunkieee:
Dem talk am oo!
https://www.channelstv.com/2024/07/24/dangote-refinerys-successll-end-fuel-subsidy-ex-minister-tells-fg/
https://www.reuters.com/business/energy/end-nigerian-fuel-subsidy-set-squeeze-europes-refiners-2023-07-28/
https://dailypost.ng/2024/07/22/people-in-nnpc-dont-want-subsidy-scam-to-end-emir-sanusi/

wetin the man sabi. Reality don show

ednut1:
wetin the man sabi. Reality don show

Sanusi too?

On the argument by NNPC that relying on one refinery is bad for our energy security, Muhammadu Sanusi II said: “This is most laughable. On the contrary, relying on a local refinery is far more secure than these imports.
“It is a very rich argument from an entity that had taken billions of dollars in the name of turnaround maintenance and not produced a drop of product from four refineries because it is more profitable to continue extracting rent in the name of subsidy. If NNPC activated its refineries, there would be no monopoly. Then, we can see the sulphur content of its products and compare them to Dangote’s.”
He said further: “Until then, keeping quiet is the honourable option for it, NNPC and its spinoffs have lost any right to talk until they fix the mess they have thrown us into.
“In any case, if the Dangote refinery is unable to meet local demand, the gap can be filled by imports, these people in NNPC do not want to end their lucrative subsidy scam, and I don’t think they will end it.

You mean Sanusi, former CBN Governor, as well, right?

Kobojunkieee:
Sanusi too?
You mean Sanusi, former CBN Governor, as well, right?

well maybe he was expecting dangote price to be significantly lower and not need subsidy. But now reality don show.

DeLaRue:
So called 'Malta' price was heavily subsidised by NNPC.

Now NNPC has announced they are in massive debt, may be as a result of the subsidy it was paying.

With Dangote, it seems subsidy is finally going to go away or be reduced substantially.

If Republic of Benin, Ghana, Niger Republic etc can buy fuel at over N1300 per litre, we must be willing to accept N850 or more per litre in Nigeria unless we want subsidy to continue and we bankrupt Nigeria.

Cheap petrol is not a constitutional right or an entitlement.

Leave OP and the likes, they live off sensationalism let they have their field day