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Petrol Import Reduced By 1 Billion Litres In Seven Months - Politics (2) - Nairaland

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Marketers Move To End NNPCL Petrol Import Monopoly / NMDPRA: We’re Ready To Issue Petrol Import Licence To Interested Companies / Fuel Scarcity: We Have 2 Billion Litres Available – NNPC (2) (3) (4)

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Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by malali: 7:55am On Feb 22
Mindlog:


The imported fuel cost determines cost of transportation, cost of fueling generators.....so how would goods locally produced in Nigeria, come down in prices?

Very good question.
This is where science and technology comes in. The world has moved in that regards. We now have hybrid corn seeds that can produce double the amount of corn on one maize plant.
So if you were getting 50 bags from 1 hectare of land, you can get 100 bags with such hybrid seeds. There is a lot of other technological advancements that is done all over the world that has to be introduced to Nigerian farming. If you cultivate a huge land mass and increase production, it will ameliorate the cost of energy. All the farms in the world buy energy at the same prices. We have cheaper farm lands, and labor than most of them, so we should still produce cheaper crops to even export to them.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by Sumerians: 7:55am On Feb 22
Mindlog:

The imported fuel cost determines cost of transportation, cost of fuelling generators.....so how would goods locally produced in Nigeria, come down in prices?

Waste of engagement.

You are wasting your time engaging paid lowlives foools who are whining themselvesgrin

I can see you reside in UK. No wonder you couldn't identify the lowlifers.

As for me, I usually scroll pass their useless comments at the speed of light.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by malali: 8:10am On Feb 22
ednut1:
insecurity has affected foodstuff. For the locally produced goods cost of diesel has gone up and some of the raw materials are imported too. There has to be an all out war on bandits and oil theft.

I agree with you, the governors should liaise with the local governments and the community heads, these bandits are not ghosts, the people living with them know who they are. Oil theft is just so 1900's, why do we have senators and house of reps from oil producing states, they should be able to bring forward solutions to oil Theft.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by RepoMan007: 8:13am On Feb 22
matify83:
With the removal of fuel subsidy, it was only a matter of time before the once lucrative racketeering of fuel across the borders die a slow but agonizing death.

Also, the closure of some of our northern borders especially the Niger border due to ECOWAS sanctions on the coupist has drastically cut off a major artery for smuggled fuel.

Another master stroke may also have been the change of guard at the helms of the customs, immigration and other relevant bodies. The former heads may have turned a blind eye to smugglers and smuggling activities or were willing participants in the massive sleaze.

It is however not lost in this discuss that Nigerians have drastically cut down on the use of fuel due to the harsh economic climate. Generators are running less or not at all, people are commuting less and far between, disposable incomes are channelled into more gainful ventures than supporting luxury and a host of other factors.

It is still alive. We sell for around $0.5.
Our neighbour's sell for around 0.7-0.8
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by malali: 8:18am On Feb 22
tctrills:

Oga when has the price of foodstuffs ever come down ? Stop living on false hope.

Locally produced foodstuff has to come down. The farmer will have to sell at some point.
Look at cement for example, it went high and now its 7-8 thousand.
As long as the foodstuff is not smuggled across the border, the earning power of Nigerians will determine the price.
It happened in the US and UK. During covid everything went up due to inflation, now its back to the usual price when the rates were raised.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by Konskott(m): 8:28am On Feb 22
Certainly not an achievement as long as Nigerians are not buying fuel cheap.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by tctrills: 8:36am On Feb 22
malali:


Locally produced foodstuff has to come down. The farmer will have to sell at some point.
Look at cement for example, it went high and now its 7-8 thousand.
As long as the foodstuff is not smuggled across the border, the earning power of Nigerians will determine the price.
It happened in the US and UK. During covid everything went up due to inflation, now its back to the usual price when the rates were raised.
Oga prices of food has come down? In Nigeria or in which country? How much is beans in your area? How much is garri? How much is palm oil? Please mention the food prices that have come down?
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by CandidAdmin(m): 9:02am On Feb 22
malali:


Locally produced foodstuff has to come down. The farmer will have to sell at some point.
Look at cement for example, it went high and now its 7-8 thousand.
As long as the foodstuff is not smuggled across the border, the earning power of Nigerians will determine the price.
It happened in the US and UK. During covid everything went up due to inflation, now its back to the usual price when the rates were raised.

It can't.
Insecurity.
Fuel price.
Food being smuggled outside 9ja.
Not enough food being cultivated.

I don't think it will.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by fortune1968: 9:12am On Feb 22
malali:


You said that right, We were subsidizing petrol and dollars to the whole of west Africa.

Please keep the borders closed, the prices will come down eventually, purchasing power determines the price of goods in a closed system.

If the government sanitizes the forex upstream and downstream channels, This government would have won the first round. Problem is a lot of Government officials are the main dollar criminals, its not the people earning minimum wage or unemployed. The Dollar criminals are the lawmakers and Elites.
You forgot to add the.governors who are the main culprit .The Senate president has just said that each of them got 30 billion extra .Has it reflected on the lives of the people ? They use the naira at their disposal to mop up all available dollars
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by AerialMapper: 10:08am On Feb 22
I billion litres was reduced and there was no fuel shortage.... Question time...

Is this because Nigerians reduced the quantity of fuel they were buying due to the high prices OR this 1 billion litre figure never even existed in the first place!

We know that when fuel is imported, there is a lot of manipulation in the figures in order to steal. Cargoes are counted 2 to 3 times and payment is made on this fake imports. We also know that the daily consumption of petrol is heavily inflated to give a higher subsidy figure which is then siphoned.

So questions should be asked. This is why a certain candidate said before the subsidy removal... Remove all inefficiencies and loopholes in the system. Then you can compute the real price of petrol imports and only can you have the informed decision based on data to tackle the subsidy scam.... But na data and statistics we go chop??!!!

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Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by lastkingsman: 10:51am On Feb 22
ednut1:
false. Its still being smuggled

https://dailytrust.com/despite-subsidy-removal-petrol-smuggling-persists/

Kwakwakwa grin

I dey find click to join this smuggling cartel so I can make bastard money
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by commoditiesnig: 10:59am On Feb 22
Good news.. Saves more fx
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by Tareq1105: 11:17am On Feb 22
malali:


You said that right, We were subsidizing petrol and dollars to the whole of west Africa.

Please keep the borders closed, the prices will come down eventually, purchasing power determines the price of goods in a closed system.

If the government sanitizes the forex upstream and downstream channels, This government would have won the first round. Problem is a lot of Government officials are the main dollar criminals, its not the people earning minimum wage or unemployed. The Dollar criminals are the lawmakers and Elites. Tinubu doesn't have the balls to tackle them yet. Although rumor has it, he is one of them....lol

What about the Bank Executives? The Elumelus, Ovias, etc with the cooperation of Emefiele, round tripping and arbitrage were highly encouraged and promoted. Or they should show Nigerians where their industries and factories are located.
Re: Petrol Import Reduced By 1 Billion Litres In Seven Months by 7lives: 12:41pm On Feb 22
Nbote:
That's because the figures were false in the first place. The supposed consumption and importation figures were all a lie

What a rogue country.

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