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Nairaland Forum / Nairaland / General / Politics / Subsidy: Petrol Price Will Come Down, Says NNPC (46816 Views)
Falana Says NNPC’s Decision To Increase Pump Price Of Petrol Is Illegal / Subsidy: Petrol Hits N1,200 Per Litre In Ebonyi / Without Subsidy Petrol Will Cost ₦462/litre, Says NNPCL (2) (3) (4)
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Subsidy: Petrol Price Will Come Down, Says NNPC by peekspot(m): 11:51am On Jun 01, 2023 |
https://punchng.com/subsidy-petrol-price-will-come-down-says-nnpc/ 23 Likes 3 Shares
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Re: Subsidy: Petrol Price Will Come Down, Says NNPC by LeoDeKing: 11:52am On Jun 01, 2023 |
The NNPC boss said competition among major players in the oil sector would force down the price of petrol as against the upward trends that have caused panic in the country. Competition will force down the price, yet you pegged the price, total bullshit. Truly, removal of subsidy is synonymous to liberalisation of the industry, but then, why fixing prices? Besides, Petroleum marketers have association, that is the where a price is fixed. Any marketer who sells in defiance to the agreed price will be sanctioned. So stop the dogshit of prices coming down on account of any imaginary competition. 159 Likes 16 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by SoNature(m): 11:55am On Jun 01, 2023 |
The price of PMS can never drop if we don't have functional refineries. Saying the price of PMS will drop is like saying that the price of iPhone will drop because you don't even manufacture it locally - you just import it. In fact, NNPC has become the world's most useless oil corporation. An oil corporation that is more interested in building roads and hospitals instead of having functional refineries. 89 Likes 4 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by MasterJayJay: 12:04pm On Jun 01, 2023 |
Petrol is gold. Every marketer will maximize profit. Subsidy is gone! To your tents oh Nigerians! Inflation loading! 10 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Xscape1993(m): 12:05pm On Jun 01, 2023 |
Grammar upon grammar...the major problem of the blacks.... 30 Likes 3 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by SamPeeLamen(m): 12:06pm On Jun 01, 2023 |
No matter what, petrol cannot be sold at less than 460 naira, which is still on the high side. Yesterday, i got just a little over 12 litres for 7k, if not that i was in public, i would have sat on the ground and cried, really. 11 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Standing5(m): 12:11pm On Jun 01, 2023 |
Senseless and corrupt liars everywhere. 20 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by inoki247: 12:19pm On Jun 01, 2023 |
If Subsidy is gone and dere will be competition why fixing Price.... 14 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Nobody: 12:23pm On Jun 01, 2023 |
Let's see as it goes. The explanation looks reasonable but the pronouncement was premature. They should have given permission to the new market entrants to carry on with their trade before subsidy was finally removed. This would have cushioned the effect & minimize the brouhaha. 6 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by endsarrrs(f): 12:27pm On Jun 01, 2023 |
Since 2000, Nigeria has issued at least 20 refinery licenses to private companies However, only one refinery has just been built because investors fear not recouping their investment under the artificially low price structure (Subsidy regime) One legitimate criticism against this APC government is that it has done a poor job in the past in planning for the subsidy removal and in communicating the huge costs of the fuel subsidy and the benefits of its removal to the population. 51 Likes 2 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by ambale(m): 12:27pm On Jun 01, 2023 |
How will it go down mr kyari? Competition doesn't drag anything down, it takes concerted efforts to do that Cement is a case study, even as damgote who is a major rich guy is the controlling it, he couldn't even drag the price down Make una dey play 14 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Bobloco: 12:29pm On Jun 01, 2023 |
Simple economics of demand and supply doesn't apply to Nigeria Nigeria has a unique economy that defies simple economic theory Mele kyari himself knows that he is not sure of what he is saying It will be observed that even with the new entrants, Nigerians will found out that the price will keep going up. Some industry players can decide to create a partial scarcity and sell at cut throat price 17 Likes 3 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Parachoko: 12:31pm On Jun 01, 2023 |
The price wont be stagnant Kyari only fix the price for NNPCL filling stations 44 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Parachoko: 12:37pm On Jun 01, 2023 |
ambale:There are other major and powerful companies in the oil sector who can compete with Dangote. Well, I hope more Modular refineries will spring up very soon 39 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Nightwolf1: 12:47pm On Jun 01, 2023 |
The only problem I have with these set of criminals, and one important aspect of this whole issue they haven't been able to address properly is, where will the new entrants source crude oil from before refining to fuel and other petroleum byproducts and sell @ competitive prices? If it means buying crude oil from FG @ international market price, that means no amount of magic can bring down fuel price. Whether you have a million new entrants into the market. 15 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Unperturbedpota: 12:49pm On Jun 01, 2023 |
LeoDeKing: Summed up perfectly 5 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Nobody: 12:51pm On Jun 01, 2023 |
Okay |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by sammirano: 12:51pm On Jun 01, 2023 |
>This is unacceptable how can we buy fuel at over $1 per litre. Even the US don't buy at that rate. FG needs to do something 8 Likes 2 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by nairalanda1(m): 12:51pm On Jun 01, 2023 |
Prices will come down It happened with the GSM sector. SIM cards were expensive in 2001. So expensive that as a student, I laughed when someone like V -mobile came advertising with their then N20000 package. (Just the sim). Now, thanks to competiton, the prices of a SIM are so low, I've gone through over 5 of them in the last 14 years. Lol. The same thing will happen with fuel...but it won't be below 200 naira anymore. That ship has sailed. 54 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by LeopardX: 12:51pm On Jun 01, 2023 |
We hope so. But it's doubtful Sha. Abi no be naija we dey again? 1 Like |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by RHMSTECH: 12:51pm On Jun 01, 2023 |
while I believe it’s necessary for fuel subsidy to be removed, I also think it’s important you understand that the level of productivity in Nigeria is very low and it’ll be difficult for the immediate benefit of subsidy removal to be felt if we don’t find ways to improve transparency in our spendings. 10 billion dollars was spent on fuel subsidy in 2022, and Dangote refinery cost 21 billion dollars right? Why don’t you approach imf or world bank to raise a 10 billion dollar capital project credit for you? This money shouldn’t be paid to the government account, it should be paid directly to the contractors. These financial institutions won’t have a problem raising those funds for you if you can set up a payment plan that’s in keeping with how you handle your subsidy payments, that way you can always raise 10 billion dollar capital projects credit every year which can be used for power plants, military weapons, railways and roads. As long as there are measures put in place to ensure transparency and you don’t let loan funds be in control of any ministry or government agency, things should be fine. What I said above is long term planning but there must be an immediate response to subsidy removal and I think the best approach is to open the border for rice and wheat,and also declare them custom free. Sir, it’ll take cheap rice and bread to solve the immediate problem of subsidy removal. 28 Likes 3 Shares |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by FunkeAyorinde: 12:52pm On Jun 01, 2023 |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by DucksWorth: 12:52pm On Jun 01, 2023 |
Fuel subsidy has been removed...save cost on fuel and time waiting on long queue's. If you work I'm remotely, you can power your devices on the GO 🏁 A with this 72,000mah / 300w powerstation. 💻- Laptop 📱- Phone 🖨️ - Printer 🌍 Nationwide delivery 📦 Payment on Delivery via GIG Logistics ! Call or WhatsApp 1 Share
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Re: Subsidy: Petrol Price Will Come Down, Says NNPC by karmaolu1(m): 12:52pm On Jun 01, 2023 |
When? Can you imagine some Yorubas fighting at fueling station. It's a shame 3 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Sijo01(f): 12:53pm On Jun 01, 2023 |
Perform the magic asap and let it come down o. Filled my tank @NNPC mega station on Sunday with 11k+ fuel server inclusive. Pressing my calculator now, it will cost me over 25k to fill the same tank. Omoh, this is too much o 4 Likes |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Wealthoptulent(m): 12:53pm On Jun 01, 2023 |
Lolz.. Make dem no calmdown.. some even saying them miss buhari. If You miss buhari, dey go DAURA e dey there. JOIN HIS COW that are Easy to Control. Ki PMB da e mo ERAN/OMO Lati train. LeoDeKing:KOLO dey him name.. he is on colos colos |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by MorataFC: 12:53pm On Jun 01, 2023 |
When? |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by MorataFC: 12:54pm On Jun 01, 2023 |
Sijo01:😃 |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by bestman09(m): 12:54pm On Jun 01, 2023 |
And they are the first to increase the official price of petrol 2 Likes 1 Share |
Re: Subsidy: Petrol Price Will Come Down, Says NNPC by Ruggedniggaone: 12:54pm On Jun 01, 2023 |
Lamba 2 Likes 1 Share |
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