₦airaland Forum

On the norms as it stands fuel don't suppose to pass #600/liters.

Dangote and NNPCL are now the elephants of PMS, marketers and consumers are the grasses.

This, when 2 elephants fight, the grass suffers.


In this case, consumers and marketers are on opposite sides, gain for them is on consumers, gain for consumers is on marketers.

So Easter holidays don finish, chai, how time flies!

nairalandadeux:
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.

who cares

bewla:
Dangote over to you another dropingthis time to #200

Refining fuel cost between N700-800 right now. Dangote cannot drop fuel prices to N200 without sustaining massive losses for his business...which would be bad for the refinery and his workers.

Remember, government does not pay his worker's salaries.

EPIJOE:
On the norms as it stands fuel don't suppose to pass #600/liters.

#200

bewla:
who cares

You did, well enough to quote me, boyo.

savcy:
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.

the policies trump is making on the tariffs is it Nigerian president that is making them ? Why singling out Nigeria alone as a tricky place where policies are made without concern of effects ?

Independent petroleum marketers are actually part of the problems in the petroleum industry

Olachase:
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

If you want working refineries, fuel has to be sold at a profit.

Nigeria would struggle to pay subsides...simply because subsides largely come from the same oil revenue, which, unless one barrel of oil surpasses 140 dollars per liter, does not yield enough revenue for nigeria.

Countries that pay subsides, don't do it for everyone, and charge high taxes to fund it. Yeah, the Saudi...but they have ten times our oil production yielding revenue for 40 million people...so yeah, they have enough to pay for it. Libya too...poduce the same amount we produce...which yielids revenue for 5-7 million people.

EPIJOE:
On the norms as it stands fuel don't suppose to pass #600/liters.

I wish too, but refining costs won't let it be that way.

The only way for it to go below N600? Crude oil price would have to dip below 50 dollars, maybe be at 40 dollars. That keeps the price down, but is bad news for government revenues....

WonderManly:
https://punchng.com/marketers-decry-losses-as-nnpc-drops-petrol-price-to-n880-litre/?fbclid=IwY2xjawJ0EDtleHRuA2FlbQIxMQABHnb8rLlXMkVt-rHlyQBqSgRVCKR0w8Uen4kUoxmpgesn_hfdp5lnDP-ZnVXS_aem_auicAEKN1eWW3eyIX1YUFg

If no sabotage why will NNPC that has more retail outlet not be a partner to dangote refinery?so they must choke poor quality petrol imported frm malta down our throat abi?
Me sha na only mrs petrol i dey buy n hav seen d difference.It even burns slowly

bewla:
#200

LOL.

🥁🎹As e dey pain dem🎵,e go dey sweet 🎼us,as e dey sweet us 🎶,e go dey pain dem🔉🎧

bdon123:
If no sabotage why will NNPC that has more retail outlet not be a partner to dangote refinery?so they must choke poor quality petrol imported frm malta down our throat abi?
Me sha na only mrs petrol i dey buy n hav seen d difference.It even burns slowly

NNPC does refine fuel domestically and does buy some from dangote. and they also import.

nairalandadeux:
Refining fuel cost between N700-800 right now. Dangote cannot drop fuel prices to N200 without sustaining massive losses for his business...which would be bad for the refinery and his workers.

Remember, government does not pay his worker's salaries.

All we want is let it still drop to low cost for things to be ok for us

Must Dangote reduce first before NNPC Does so?

tonyashburton:
🥁🎹As e dey pain dem🎵,e go dey sweet 🎼us,as e dey sweet us 🎶,e go dey pain dem🔉🎧

If your side won, the same subsidy removal would have happened, because at the end of the day, as at August 2022, debt service was eating 90% of our revenue.

Subsidy was at the end of the road. Buhari could find no more money to pay for it after June 2023.

And yes, I also do not like APC. But we were at the end of the road for subsidy. There was no more magic solution.

nairalandadeux:
You did, well enough to quote me, boyo.

quote you not to je you Nigeria deserves to enjoy for once

bewla:
All we want is let it still drop to low cost for things to be ok for us

You want price controls, which usually leads to more debt, which usually leaves us in IMF chains.

Happened to too many countries.

Nothing comes for cheap. The person that refines fuel, the person that transports it, and the person that sells it, as well as the person that extracts oil from ground, and the oga owner...all want to be paid. Only way to keep prices low is to underpay them. Not going to happen.

bewla:
quote you not to je you Nigeria deserves to enjoy for once

Good one, comrade commisar.

Dem no dey decry profit.

Purevibe74:
as usual when ever there remove five naira or ten Naira it will be celebrated by their supporters 😂

Oga there is no longer subsidy.. U want make them remove 2k? Na wa for u o

DadojoReloaded:
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.

Many are coming in to do domestic refining...now that there is money in it.

Olachase:
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

..
I go like buy your family house first

I feel for them. But when price increases they take the profit and clean mouth.

Make dem getat.

nairalandadeux:
You want price controls, which usually leads to more debt, which usually leaves us in IMF chains.

Happened to too many countries.

Nothing comes for cheap. The person that refines fuel, the person that transports it, and the person that sells it, as well as the person that extracts oil from ground, and the oga owner...all want to be paid. Only way to keep prices low is to underpay them. Not going to happen.

all this can be catered for without short cut some one
Let's be transparent in what we do

Naa almigjty thunder go Fire them

bewla:
all this can be catered for without short cut some one
Let's be transparent in what we do

If it could, the USSR would still be around.

Anyway, good am.

All these unnecessary cry about marketers losses is pathetic.
It's like any other business, prices will go up and down in a free market economy.
Of rhey choose to gamble, that's their problem.

savcy:
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.

This is the policy in any real free market economy. You don't fix prices, you allow market forces to determine the best price.
Nigeria didn't happen to them, real economy happened to them.

Criminals, what loss are they talking about, are these not the same set of people that NNPC will announce drop in price yet they will continue to sell old price? Crying as if they will reduce the price immediately.