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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres (6217 Views)
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Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by lexy2014: 11:15am On May 10, 2021 |
chrisxxx: Why then did PPPRA/FG say that increases in pump price is what actually makes d product unattractive in neighboring countries? If u can identify nigerias fuel, will it stop d product from finding it's way to neighboring countries? Why have d increases in pump price according to PPPRA/FG over d years not discouraged snuggling in anyway? |
Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by lexy2014: 11:26am On May 10, 2021 |
Lazycapitalist2: The gentleman u are speaking for said: "If the price is increased in Nigeria it makes it more attractive to be smuggled". chrisxxx: Which means, u and him aren't even on d same page. Kindly see d article below. https://www.google.com/amp/s/m.timesofindia.com/business/india-business/high-gas-diesel-prices-in-india-prompt-smuggling-of-fuel/amp_articleshow/81152309.cms Nigeria has been increasing price of fuel since 1973 till date. What was d amount of subsidy removed& what is d amount left? According to u: "However, since subsidy has gone, there would be an increase in more investment in refinereis, which increases production, and brings down the price here..." What investment has accrued so far? |
Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by Nobody: 11:35am On May 10, 2021 |
lexy2014: 1..If.subsidy is removed completely to the point that the NNPC no longer sets the price but the market, there will be a price increase initially At the same time there would be more investment since crucially speaking there is no price control again Meaning there is increased production And thus reduced prices And thus increased potential for exporting fuel There has been no proper subsidy removal in the past because government still controls the price of fuel every time As things stand landing cost of fuel is over 200 naira . Fuel is sold at 162 naira per liter. Subsidy is the amount paid to cover the difference. Plus the amount paid to prevent price differentials due to transport costs. 2. Finally you cannot expect things to coat the same as they did in 1973. 3. The gentleman was mistaken to beleive that increased prices makes smuggling attractive. |
Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by effty(m): 12:10pm On May 10, 2021 |
post=101539710: So it justifies the figure right? You are nothing but a hypocrite. 1 Like |
Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by lexy2014: 1:58pm On May 10, 2021 |
Lazycapitalist2: If d gentleman was mistaken, then what were u defending in his comment? But again, d link I shared with u also showed d PM of India corroborating his viewpoint. Even if 1973 isn't 2021, it doesn't change d fact that fuel subsidy has been removed continuously since 1973 till date. So d question is what has been removed of d subsidy and what is left of d subsidy? According to u: "However, since subsidy has gone, there would be an increase in more investment in refinereis, which increases production, and brings down the price here..." What investment has accrued so far? |
Re: Nigeria’s Daily Petrol Consumption Hits Record High Of 93 Million Litres by Yankee101: 5:33pm On May 10, 2021 |
I doubt. There's just more smuggling |
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