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NNPCL Further Increases Fuel Pump Price Of Petrol - Politics (11) - Nairaland

Nairaland Forum / Nairaland / General / Politics / NNPCL Further Increases Fuel Pump Price Of Petrol (43683 Views)

NNPC Increases Fuel Price To ₦1,030 / Breaking!!! NNPCL Further Increases Fuel Pump Price To N617 Per Litre / Subsidy Removal: Fuel Pump Price Rises To 800 CFA In Benin Republic – KPMG’ (2) (3) (4)

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Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 12:42pm On Jul 18, 2023
nairalanda1:


Our debt is 108.3 billion dollars.

108.3 BILLION dollars.

As at march 2023.

And it is still rising because interest

Thanks and good morning....lol!
And it rose from 103billion dollars in 2022. Which still shows that you're lying cause if we use 70% of our $45bn oil revenue to service debt, which is 31 billion dollars to service 103 billon debt, it leaves 72 billion. So what you're claiming is that Nigeria accumulated an extra $36bn in 3 months. Explain exactly how that makes sense to even a dullard
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by proeast(m): 12:43pm On Jul 18, 2023
nairalanda1:


Well, if we kept the subsidy, the resulting inflation and deficit that would have resulted in a few years would make what we are going through now look like plain and easy street.

Plus keeping subsidy is why we don't have good refineries in the first place.

Can you please stop blabbing all over this thread? You're talking rubbish yet spamming everywhere with it, gosh!
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by adambest(m): 12:46pm On Jul 18, 2023
On kolos
Acekidc4:
It's for the main time, everything will normalise very soon. On behalf of Mr President i apologize for every inconvenience this is causing the good citizens of this great country.

Mr President is working around the clock to make this country very great and ease the suffering of the Masses. God Bless you all.


Cc: PATRON
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by akaahs(m): 12:48pm On Jul 18, 2023
potbelly:
Renewed shege Pro max...
Add special edition to it
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 12:50pm On Jul 18, 2023
proeast:


Can you please stop blabbing all over this thread? You're talking rubbish yet spamming everywhere with it, gosh!

Okay. Greet IMF for me.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 12:50pm On Jul 18, 2023
Kukutenla:

And it rose from 103billion dollars in 2022. Which still shows that you're lying cause if we use 70% of our $45bn oil revenue to service debt, which is 31 billion dollars to service 103 billon debt, it leaves 72 billion. So what you're claiming is that Nigeria accumulated an extra $36bn in 3 months. Explain exactly how that makes sense to even a dullard

Grow up please.

cheesy
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 12:51pm On Jul 18, 2023
jesmond3945:
and also give house of rep 70 billion for furniture

Which is wrong, and which should be taken away from them

But 70 billion cannot cover subsidy costs for one month, talkless of one year.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 12:52pm On Jul 18, 2023
Shapiru:
ode ! Are you earning in naira or pounds? Compare minimum wage

And compare tax rates too, young girl.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by IamAtikulate: 12:56pm On Jul 18, 2023
CodeTemplar:
Oga take am easy. Na true I talk. Renewable people are running ads and cashing out from the renewed whatever going on.
Meaning we should hype the renewed scam or continue trusting the process?

1 Like

Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Reference(m): 12:57pm On Jul 18, 2023
11 pages and government propagandists are yet to hit the discourse.
Are they stuck at the gas stations.... grin
Elections is easy... governance is another matter...

4 Likes 2 Shares

Re: NNPCL Further Increases Fuel Pump Price Of Petrol by CodeTemplar: 1:03pm On Jul 18, 2023
IamAtikulate:

Meaning we should hype the renewed scam or continue trusting the process?
I am neither articulate, obidient nor batified. I am just stating a fact.

2 Likes

Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 1:06pm On Jul 18, 2023
nairalanda1:


Grow up please.

cheesy
It is you who needs to grow up.
Stop telling lies. Kindly explain how we used 70% of our oil revenue to pay debts, yet debts increased from 72bn dollars to 108 billon dollars in 3 months.
Or are the lies getting too complex to defend?

1 Like

Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Nobody: 1:08pm On Jul 18, 2023
Kukutenla:

Another tissue of lies
How come refinery maintenance has been going on at PH refinery since last year with subsidy in place? Where did NNPC get $5bn to invest in Dangote Refinery with subsidy in place?

You just keep picking and choosing excuses. What parameters says only countries with less than 20m population can afford subsidy? How is US able to afford the humongous subsidy it pays to keep agric commodities low with a population of 300m people?
You lie too much
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by CodeTemplar: 1:08pm On Jul 18, 2023
Reference:
11 pages and government propagandists are yet to hit the discourse.
Are they stuck at the gas stations.... grin
Elections is easy... governance is another matter...
propaganda needs brainstorming and harmonization.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 1:09pm On Jul 18, 2023
Kukutenla:

It is you who needs to grow up.
Stop telling lies. Kindly explain how we used 70% of our oil revenue to pay debts, yet debts increased from 72bn dollars to 108 billon dollars in 3 months.
Or are the lies getting too complex to defend?

Sorry,but I don't engage with abusive people.

And the spoonful of sugar makes the medicine go down...
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by spencekat(m): 1:12pm On Jul 18, 2023
nairalanda1:


LOL..there was subsidy then...it was its withdrawal that led to increase in price.
There was no subsidy then.Mention oil marketers who collected subsidy when price was two hundred and something.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by God2man2again(m): 1:16pm On Jul 18, 2023
Who is ruling us? FG or NNPCL?
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by IbeOkehie: 1:17pm On Jul 18, 2023
MadamExcellency:


Population is not a curse as some people were made to believe, it's a source of blessing if managed appropriately.

Very correct!!!!

Thanks for this!

Good Luck to Nigerians!
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Reference(m): 1:19pm On Jul 18, 2023
CodeTemplar:
propaganda needs brainstorming and harmonization.

Hmmm.... okay, we are all ears... we love stories.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 1:34pm On Jul 18, 2023
spencekat:
There was no subsidy then.Mention oil marketers who collected subsidy when price was two hundred and something.

History lesson TIME...

In 2016, Buhari made NNPC the sole importer and subsidsier of fuel. That meant that NNPC was importing fuel, and selling it at a lower price to the depot, and by extension marketers, who in turn sold it at a price slightly higher than the subsidised price set by NNPC.

Marketers have not received subsidy since 2016. All outstanding subsidy related debts from pre-2016 owed to marketers were paid up by 2018 ending, but since then, zero.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by jesmond3945: 1:39pm On Jul 18, 2023
nairalanda1:


Which is wrong, and which should be taken away from them

But 70 billion cannot cover subsidy costs for one month, talkless of one year.
if you are removing subsidy and not cutting down cost of governance you are not being just.p
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 1:41pm On Jul 18, 2023
jesmond3945:
if you are removing subsidy and not cutting down cost of governance you are not being just.p

We can cut down cost of governance, and we should, but at the end, ....even if we took away the amount of money budgeted for the national assembly and aso rock, it won't cover subsidy costs for one month.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 1:54pm On Jul 18, 2023
nairalanda1:


Sorry,but I don't engage with abusive people.

And the spoonful of sugar makes the medicine go down...
I havenot abused you
Just calling you out for lying with facts to back it up.
Just admit you're a liar instead of genuflecting
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 1:54pm On Jul 18, 2023
Kukutenla:

I havenot abused you
Just calling you out for lying with facts to back it up.
Just admit you're a liar instead of genuflecting

Well, you are a liar too.

(Not abusing you too)

Good afternoon liar.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 1:56pm On Jul 18, 2023
Kukutenla:

I havenot abused you
Just calling you out for lying with facts to back it up.
Just admit you're a liar instead of genuflecting

No matter how you abuse me, and how much you call me a liar, it still does not change the cold hard fact on ground.

Now, my last response to you is simple.

You want the subsidy? Good. Go and join a party, or write to your senator and house of reps member and demand a law that gets subsidy passed

Get off this site, lead movements, lead protests, get active, fight, and get subsidy back

Don't give up.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 1:59pm On Jul 18, 2023
nairalanda1:


Well, you are a liar too.

(Not abusing you too)

Good afternoon liar.
I have not lied as much as you. Misquoting figures is not as bad as drawing up lies and using figures to back it up
You claim we can't afford subsidy because we use 70% of our oil income to service debt. I have proven to you that it's a lie because 70% of our oil revenue is 31bn and if you remove it from the total debt, the remaining figures does not add up!!
Dispute that fact. Show me that the claim of 70% you made adds up
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 2:01pm On Jul 18, 2023
Kukutenla:

I have not lied as much as you. Misquoting figures is not as bad as drawing up lies and using figures to back it up
You claim we can't afford subsidy because we use 70% of our oil income to service debt. I have proven to you that it's a lie because 70% of our oil revenue is 31bn and if you remove it from the total debt, the remaining figures does not add up!!
Dispute that fact. Show me that the claim of 70% you made adds up

And you lied about our debt...by removing 40 billion off the actual post

Soory, I don't engage people who are abusive, rude, and who think that abuse is a form of language. You abused me repeatedly, have abused me repeatedly, and you expect me to engage you?

Just because I have an opinon different from you.

Grow up, and behave better. You can do better. You are not a little child..

Good afternoon. And good luck.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 2:03pm On Jul 18, 2023
nairalanda1:


No matter how you abuse me, and how much you call me a liar, it still does not change the cold hard fact on ground.

Now, my last response to you is simple.

You want the subsidy? Good. Go and join a party, or write to your senator and house of reps member and demand a law that gets subsidy passed

Get off this site, lead movements, lead protests, get active, fight, and get subsidy back

Don't give up.

My simple advice to you is to stop lying to justify govt corruption and inefficiency
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by nairalanda1(m): 2:04pm On Jul 18, 2023
Kukutenla:

My simple advice to you is to stop lying to justify govt corruption and inefficiency

Behave better, young man.
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by Kukutenla: 2:05pm On Jul 18, 2023
nairalanda1:


Behave better, young man.
Stop lying old man
Oya go and buy your fuel for 617naira. Enough of propaganda for today
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by bonnyhope: 2:07pm On Jul 18, 2023
isArray:
If you're in a top earning profession, you won't really feel the impact, even your employer's will adjust to meet your salary requirements , it's also easier to move from one good paying job to another

How many Nigerians are fortunate to be working in high paying companies
Re: NNPCL Further Increases Fuel Pump Price Of Petrol by angelina08(f): 2:10pm On Jul 18, 2023
I've read the news about the recent increase in petrol prices by the Nigerian National Petroleum Company Limited (NNPCL), from 537 to 617 naira per litre.

This is a significant jump, especially considering the previous increase from N195 to 537 per litre right after President Tinubu was sworn into power.

https://www.yohaig.ng/naija-news/economy/petrol-prices-soar-as-naira-weakens-and-inflation-rises/.

The removal of fuel subsidies, as mentioned in President Tinubu's inaugural speech, is a significant factor contributing to these price hikes. While this decision may initially cause discomfort due to the increased fuel cost, it's essential to consider the broader economic context.

In the first half of 2023 alone, Nigeria spent N3.6 trillion on fuel subsidies.

Over the past 13 years, the country has spent a staggering N13.7 trillion on fuel subsidies, as the Nigeria Extractive Industries Transparency Initiative reported.

The Federal Government estimates that discontinuing these payments could save the country close to N6.7 trillion.

While the immediate impact of these changes may be challenging for many, the potential long-term economic benefits could be substantial.

The funds saved from discontinuing fuel subsidies could be redirected towards other sectors, such as infrastructure, education, and healthcare, which could stimulate economic growth and improve the quality of life for all Nigerians.

However, the government must ensure a smooth transition during this period, supporting those most affected by the price increases.

The brief queues at NNPC filling stations in Abuja and the temporary shutdown along Murtala Mohammed Express road, Kado, are early signs of the adjustments that both businesses and consumers must make.

Let's continue to engage in constructive discussions about these changes and their impacts.

Through these conversations, we can better understand the situation and advocate for policies that benefit all Nigerians.

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