₦airaland Forum

Who Increased Fuel Prices? – Reno Omokri
newspotng.comOct 10, 2024 11:14 AM

The headlines screaming, ‘President Tinubu Increases Fuel Price’ are inaccurate and do not reflect the actual situation. Nigerians ought to understand that fuel subsidy has been removed. It was scheduled for removal by the preceding Buhari administration and was implemented in 2023.

It betrays a lack of understanding of corporate governance and unawareness of how government operates when politicians and activists attack President Bola Tinubu over statements and actions of the NNPCL.

If the public is not made aware that such criticism knowingly or inadvertently passed on wrong information to them, they will act on this incorrect information as though it were true.

The NNPCL is a limited liability company that is not subject to the President’s direct control. The NNPCL right now is like the NLNG Limited and, to a limited extent, the CBN.


Both the NLNG Ltd and the NNPCL are answerable to their board. They can spend money outside the budget because they are not a Ministry, Department or Agency of the government. They are just like any other company, such as MTN, First Bank or Indorama. The only difference between these companies and the NNPCL is their ownership. They are owned by private individuals and are publicly traded. The Nigerian state owns the NNPCL.


The Federal Government has majority shares, which gives the President the power to appoint the GMD.

To an extent, the NNPCL is like the CBN, which, though the President appoints the Governor, is still independent of the President and the Government.

Ownership and control of the NNPCL are separate. These changes were not even made by the Tinubu administration and are settled.


Yes, the President is the Minister of Petroleum Resources. However, critics mistakenly think this places him in control of the NNPCL.

The Ministry of Petroleum Resources is limited to regulating the industry and ensuring that IOCs and other significant stakeholders have an enabling environment.

The relationship is very similar to that between the Ministry of Power and the Gencos and Discos.


These generating companies (Gencos) are privately owned and have a minority stake held by the federal government of Nigeria. As such, the Ministry of Power has a regulatory role in the industry. That is the whole essence of deregulation.

And it is not peculiar to Nigeria.

The British equivalent of NNPCL is British Petroleum. It is a wholly privately owned company, similar to British Gas and British Airways.

Only a policy illiterate will hold the British Government responsible for their internal runnings.

The NNPCL determines the cost of petrol based on market forces rather than a Presidential caveat.

Thus, the headline should read-NNPCL Increases Fuel Prices.

© Reno Omokri

No, it's Peter Obi

Imagine my disappointment when he didn't blame Peter Obi as the cause of his mental illness. 😳

Bottom line is, fuel is selling for #1450, no motorist will ask you who increased it, no filling station will answer you even if you ask.

Reno O'monkey is just distracting the masses as usual, even at #7,500 per litre, pay reno omonkey a few change and he will write an article to support that price, even as people are falling and dying of hunger in his village. A very heartless person.

Reno Omokri, the man who loves to speak for the common man.

At last we can move beyond petrol subsidy that's benefited by mostly the haves and entitled in Nigeria.

May God bless Nigeria for ever! Check my signature for free stuffs!

Reno, the master of reverse psychology

Is Peter obi that increased it

It is ok, minister of information

Idiot of the century has come to justify the madness as usual.

I'm surprised he didnt find a way to insert Peter Obi's name in the post. His dick must have been flacid all through as he made the post... silly cunt.

Blatant Liar

Him go explain tire

Nonsense

A litre of fuel will soon be sold for 5k.

Tinubu and APC will end up killing 60% of Nigerians before their tenure elapses.

So this Reno is a pastor? Who attends his church?
I never knew that this fool will end up defending this sham of a government after all he did to Tinubu during the campaigns

Perhaps he is confused on who to blame. This foolish efulefu sudden stop blaming or talking about Peter Obi.

The devil has always been a liar and the father of all lies and liars. Is it not the same country that DSS went to the markets to enforce price decrement. If nnpc and dangote are too lazy to decrease petrol prices then others can do so

Reno, you don try small

Abeg who Wan buy car make i sell my own.

No time.

Tinubulation don balablued me... And I hear say this is just the beginning 🙆🙆

See talk.

Reno Omonkey.

Anywhere belle face

And it is not peculiar to Nigeria.

The British equivalent of NNPCL is British Petroleum. It is a wholly privately owned company, similar to British Gas and British Airways.

Only a policy illiterate will hold the British Government responsible for their internal runnings.

They are always so careful about the other side of the world when it comes to sufferings but when it comes to enjoyment, they become the policy illiterates.

This is the UK Government report about gas prices. It clearly says that if the government did not intervene, people for pai but Mr Reno chooses to call us ignorant because he assumes members of the public are all fools.

Reno is making sense as usual.

Reno the defender of the drug lord
Reno is a druggie by association

tundegan:
Reno Omokri, the man who loves to speak for the common man.

Mumu

Na me increase the fuel.

Odua4life:
Who Increased Fuel Prices? – Reno Omokri
newspotng.comOct 10, 2024 11:14 AM

The headlines screaming, ‘President Tinubu Increases Fuel Price’ are inaccurate and do not reflect the actual situation. Nigerians ought to understand that fuel subsidy has been removed. It was scheduled for removal by the preceding Buhari administration and was implemented in 2023.

It betrays a lack of understanding of corporate governance and unawareness of how government operates when politicians and activists attack President Bola Tinubu over statements and actions of the NNPCL.

If the public is not made aware that such criticism knowingly or inadvertently passed on wrong information to them, they will act on this incorrect information as though it were true.

The NNPCL is a limited liability company that is not subject to the President’s direct control. The NNPCL right now is like the NLNG Limited and, to a limited extent, the CBN.


Both the NLNG Ltd and the NNPCL are answerable to their board. They can spend money outside the budget because they are not a Ministry, Department or Agency of the government. They are just like any other company, such as MTN, First Bank or Indorama. The only difference between these companies and the NNPCL is their ownership. They are owned by private individuals and are publicly traded. The Nigerian state owns the NNPCL.


The Federal Government has majority shares, which gives the President the power to appoint the GMD.

To an extent, the NNPCL is like the CBN, which, though the President appoints the Governor, is still independent of the President and the Government.

Ownership and control of the NNPCL are separate. These changes were not even made by the Tinubu administration and are settled.


Yes, the President is the Minister of Petroleum Resources. However, critics mistakenly think this places him in control of the NNPCL.

The Ministry of Petroleum Resources is limited to regulating the industry and ensuring that IOCs and other significant stakeholders have an enabling environment.

The relationship is very similar to that between the Ministry of Power and the Gencos and Discos.


These generating companies (Gencos) are privately owned and have a minority stake held by the federal government of Nigeria. As such, the Ministry of Power has a regulatory role in the industry. That is the whole essence of deregulation.

And it is not peculiar to Nigeria.

The British equivalent of NNPCL is British Petroleum. It is a wholly privately owned company, similar to British Gas and British Airways.

Only a policy illiterate will hold the British Government responsible for their internal runnings.

The NNPCL determines the cost of petrol based on market forces rather than a Presidential caveat.

Thus, the headline should read-NNPCL Increases Fuel Prices.

© Reno Omokri

In summary, bad governamce worsened the economic indices that made the price upsurge inevitable. Whose government?
This guy has totally lost it.

Odua4life:
Who Increased Fuel Prices? – Reno Omokri
newspotng.comOct 10, 2024 11:14 AM

The headlines screaming, ‘President Tinubu Increases Fuel Price’ are inaccurate and do not reflect the actual situation. Nigerians ought to understand that fuel subsidy has been removed. It was scheduled for removal by the preceding Buhari administration and was implemented in 2023.

It betrays a lack of understanding of corporate governance and unawareness of how government operates when politicians and activists attack President Bola Tinubu over statements and actions of the NNPCL.

If the public is not made aware that such criticism knowingly or inadvertently passed on wrong information to them, they will act on this incorrect information as though it were true.

The NNPCL is a limited liability company that is not subject to the President’s direct control. The NNPCL right now is like the NLNG Limited and, to a limited extent, the CBN.


Both the NLNG Ltd and the NNPCL are answerable to their board. They can spend money outside the budget because they are not a Ministry, Department or Agency of the government. They are just like any other company, such as MTN, First Bank or Indorama. The only difference between these companies and the NNPCL is their ownership. They are owned by private individuals and are publicly traded. The Nigerian state owns the NNPCL.


The Federal Government has majority shares, which gives the President the power to appoint the GMD.

To an extent, the NNPCL is like the CBN, which, though the President appoints the Governor, is still independent of the President and the Government.

Ownership and control of the NNPCL are separate. These changes were not even made by the Tinubu administration and are settled.


Yes, the President is the Minister of Petroleum Resources. However, critics mistakenly think this places him in control of the NNPCL.

The Ministry of Petroleum Resources is limited to regulating the industry and ensuring that IOCs and other significant stakeholders have an enabling environment.

The relationship is very similar to that between the Ministry of Power and the Gencos and Discos.


These generating companies (Gencos) are privately owned and have a minority stake held by the federal government of Nigeria. As such, the Ministry of Power has a regulatory role in the industry. That is the whole essence of deregulation.

And it is not peculiar to Nigeria.

The British equivalent of NNPCL is British Petroleum. It is a wholly privately owned company, similar to British Gas and British Airways.

Only a policy illiterate will hold the British Government responsible for their internal runnings.

The NNPCL determines the cost of petrol based on market forces rather than a Presidential caveat.

Thus, the headline should read-NNPCL Increases Fuel Prices.

© Reno Omokri

How come he didnt say its peter Obi

Toh

He didn't blame his usual suspect.😂😂

vanbonattel:
No, it's Peter Obi

Imagine my disappointment when he didn't blame Peter Obi as the cause of his mental illness. 😳

Bottom line is, fuel is selling for #1450, no motorist will ask you who increased it, no filling station will answer you even if you ask.

Reno O'monkey is just distracting the masses as usual, even at #7,500 per litre, pay reno omonkey a few change and he will write an article to support that price, even as people are falling and dying of hunger in his village. A very heartless person.

my thoughts

Reno, the agent of division and distraction actively hustling for his belly.

Most upscale yorubas are rationalising the current economic blunders of this administration to be some form of "needed" discomfort, they and the core northerners did same during Buhari's perilous regime. Tribal loyalty is such a bad thing.