Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre (13175 Views)
| Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by WonderManly(op): 6:57am On Apr 22, 2025 |
Petroleum product marketers on Monday lamented their losses as the Nigerian National Petroleum Company Limited reduced the price of Premium Motor Spirit (petrol) to N880 per litre in Lagos and N935 in Abuja.https://punchng.com/marketers-decry-losses-as-nnpc-drops-petrol-price-to-n880-litre/?fbclid=IwY2xjawJ0EDtleHRuA2FlbQIxMQABHnb8rLlXMkVt-rHlyQBqSgRVCKR0w8Uen4kUoxmpgesn_hfdp5lnDP-ZnVXS_aem_auicAEKN1eWW3eyIX1YUFg 6 Likes 2 Shares
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| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by savcy(m): 7:07am On Apr 22, 2025 |
Well, their loss is our gain. I don't know how the insurance system in that industry works, but shouldn't it take care of circumstances like this? Nigeria is a tricky place. Policies are made without regard or concern about its effects. Well, the marketers can use profit from its sudden rise for the month or so as cushion. The industry is volatile, they should have back up plans by now. Nigeria happens to everyone, regardless of how little. 31 Likes 3 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by inoki247: 7:07am On Apr 22, 2025 |
Lol.... Make Dem use d gain wen dem get once rate go up and they still have old stock.... 24 Likes 4 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by tuoyoojo(m): 7:09am On Apr 22, 2025 |
Is this not part of what deregulation is all about, leaving the price to be determined by the market force of competition? When the price jumped from 197 to 617 and it even went over 1000.Did the marketers not smile to the bank? Did they not immediately increase their price even when they had the old stock. Who felt the pinch? Was it not the average man on the street. The reduction is even marginal and the marketers are behaving like the price was reduced back to 197 Ogbeni, open your station and sell the fuel jare! Abi you want to drink it 107 Likes 14 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by PheelzAlmighty: 7:09am On Apr 22, 2025 |
Mugu 1 Like |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by diabeticdeals: 7:10am On Apr 22, 2025*. Modified: 10:15am On Apr 22, 2025 |
Dangote be like Ibadan.. The Pacesetter.  11 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Purevibe74: 7:10am On Apr 22, 2025 |
as usual when ever there remove five naira or ten Naira it will be celebrated by their supporters 😂 17 Likes 2 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Odobaone: 7:10am On Apr 22, 2025 |
The previous Boss wpudknt have adjusted further but rather leave it at parity. Let the competition starts 3 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Segun91: 7:11am On Apr 22, 2025 |
When you dey gain nko ... We no hear about that one ooo 8 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by gassbee: 7:11am On Apr 22, 2025 |
Dey play |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nonso92(m): 7:11am On Apr 22, 2025 |
Marketers crying, lol. 1 Like |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nobody: 7:12am On Apr 22, 2025 |
It's just business. This is the new reality with subsidy removal. Now there is price competition, and the oil price determines the score. Subsidy removal should have happend since 1993 though. And 2012 was the best time it should have happened. 7 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Harrisonwo(m): 7:13am On Apr 22, 2025 |
But when there's increment, you won't hear let's sell the old stock at the old price... 9ja my country 13 Likes 2 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by ImoleNaija: 7:13am On Apr 22, 2025*. Modified: 7:28am On Apr 22, 2025 |
We are used to the cry. Give them tears bucket. All I know is that subsidy is gone forever. Even those deceiving you would never reverse it. Dem just dey play you like cards. 5 Likes 1 Share |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nobody: 7:15am On Apr 22, 2025 |
Purevibe74:So, you want us to go back to subsidy, and to the resultant debt servicing eating 90% of government revenue again.? Yeah, APC supporters are jokes, but at the end, there is no such thing as N40 fuel without government spending over half our budget just on subsides. And most of it would be smuggled to other African countries anyway. 15 Likes 2 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Olachase(m): 7:15am On Apr 22, 2025 |
Are we supposed to celebrate this 😏😏 In three weeks time they would adjust it to ₦990 And bring it down to ₦900 🤧🤧 I think it's time we sell this country on Temu 88 Likes 2 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nobody: 7:16am On Apr 22, 2025 |
Great. Let it go back to 87 Naira 2 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Blitzking: 7:16am On Apr 22, 2025 |
G |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by MFORC(m): 7:17am On Apr 22, 2025 |
Why is Dangote now the benchmark when we a functional refinery at port Harcourt according to NNPC 3 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by bewla(m): 7:18am On Apr 22, 2025 |
Dangote over to you another dropingthis time to #200 3 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by IBB007(m): 7:18am On Apr 22, 2025 |
Lol…the rate wey this thing dey go…marketers go soon go extinct 1 Like |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by EPIJOE: 7:19am On Apr 22, 2025 |
Must they Import? Why dnt they get refined products from dangote? 3 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by bewla(m): 7:19am On Apr 22, 2025 |
IBB007:as he they pain them he dey sweet us 2 Likes |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nobody: 7:20am On Apr 22, 2025 |
ClearFlair:It will never get back there Even that N87 was an artifical price. By that time, most stations were selling above N100. The ones that sold at N87 were mostly out of fuel, or when they had fuel , had long queues. Government was struggling to keep the subsidy. Only NNPC stations had fuel all the time, and the queues there were scary. At that time the actual price would have been somewhere around N115-20 or more. And guess what, people still complained back then IT WAS TOO expensive, and longed for the days of fuel being N65. 4 Likes 2 Shares |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by DadojoReloaded(m): 7:20am On Apr 22, 2025 |
At the end of the day, a lot of Oil and Gas investors are either going to exit the industry or be forced to align with Dangote refinery. The other alternative is to purchase fuel from NNPC refinery. This will discourage the importation of fuel and possibly end it. 1 Like |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Chevrolet076(m): 7:20am On Apr 22, 2025 |
WonderManly:I just detest hearing this old stock thing. When price increase, do they exhaust old stock before increasing their price? 5 Likes 1 Share |
| Re: Marketers Decry Losses As NNPC Drops Petrol Price To ₦880/Litre by Nobody: 7:20am On Apr 22, 2025 |
EPIJOE:Because Dangote cannot meet domestic need. He is meeting half of it, which is good enough. |
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