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Nairaland Forum / Nairaland / General / Politics / Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre (10710 Views)
Coronavirus: Petrol Landing Cost Crashes, FG May Save N450bn Billion Subsidy / FG Fails To Pay Whistle-blower Who Exposed Secret $223m NNPC Account / Petrol Landing Cost Now N180 Per Litre, Says Kachikwu (2) (3) (4)
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by ERICOPLC(m): 1:47pm On Jan 22, 2018 |
What are they insinuating? Is the contract of fuel importantation based on the forces of demand and supply at the international market? If this is the case, then Nigerians need to be told what was happening when it was less than $50 per barrel, so we will understand what they are saying now. |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by ajebuter(f): 1:55pm On Jan 22, 2018 |
pawesome: No no, not just the whole world but Ever......In the history of mankind |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by Nobody: 2:42pm On Jan 22, 2018 |
cashlurd: Seconded!!!! |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by Nobody: 2:50pm On Jan 22, 2018 |
Spylord48: You've said It all, But the problem is Nigeria's poor masses "Living on less than $2 per day" are the most useless, gullible, hypocrite people in the world. They don't want to die. About the average, rich & wealthy, Don't even expect them to participate in any thing to bring down the current government because they are at least comfortable. Besides i won't deceive u, It can never be well with Nigeria because It has Too many Problems to dealt with starting from Ethnicity, Dishonesty, Cruelty, Just to mention Few. Except GOD wipe off Nigeria & everything Inside It off the face of Earth & Re-create it. That's only way the country would be better. I'm not swearing It's a confirmed fact, Nigeria Is Cursed. |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by UncleJudax(m): 4:07pm On Jan 22, 2018 |
ReubenE:Very terrible leadership. I know i have given Up on Nigeria Long ago...but mehnnnn..smh 1 Like 1 Share |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by aolawale025: 4:21pm On Jan 22, 2018 |
HAH: Swaps are actually more subject to hidden transactions and manipulation. In 1984, buhari tried counter-trade ie exchange crude for commodities. It was abused. Also in that period there was a company NNSC - Nigerian National Supply Company - that was the sole importer of essential commodities ie soap, milk etc. We were queuing to buy soap at stores. Just like NNPC is the major importer of fuel and there are queues. Government intervention in the markets breeds corruption and inefficiency. The government is applying same policies buhari tried in 1984 that failed. Unfortunately our reserves even at 40b cannot sustain a regular and voluminous intervention in the FX market to make the naira rise. It's easier to reduce fuel imports by selling the refineries to make it work. OBJ did so but it was reversed by UmYA. To tease back the foreign capital that have left the country since 2015. And all we need to do so are just the right policies. As it is even the government has given up. We are all waiting for dangote's refinery. Ironically he bought one of the nnpc refinery then. By now he would have turned it around years ago. 1 Like |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by ninetiethcrown7(m): 5:46pm On Jan 22, 2018 |
nwanna89: Yes we make more money when oil prices are high, but we spend more also and now that dollar is 305 we are even spending more than we spent considering when dollars was 150 also the fuel we import caters to only about 60-70% of our consumption which is very high. All these factors makes it impossible to sustain the system that is in place now. Also deregulation is a myth... because deregulation is a form of regulation. For instance if nnpc deregulates and marketers still fault due to some problems or the other it is still the same nnpc/government who will come and save the IPMAN with new regulations because the sector is just too big for unwanted supervision. |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by piagetskinner(m): 8:19pm On Jan 22, 2018 |
watch and see, petrol price will soon be increased to 200 naira...and as usual Nigerians will only grumble In their bellies...and after a while get adjusted to it |
Re: Crude Oil: NNPC Account In Red As Petrol Landing Cost Nears N180/litre by Nobody: 8:57pm On Jan 22, 2018 |
ninetiethcrown7: You make valid points. But i think importing fuel should be like importing any other commodity like electronics or cars. When it arrives, govt should just make sure the fuel is of good quality before it is allowed in. Then importer can sell at whatever price they want. Competition will certainly drive prices lower. This should the short term solution while the govt encourages those who want to invest into refineries to do so without unnecessary bottlenecks. |
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