The end of subsidy may eventually mark the end of nnpc dominance of the oil sector.

It would be the birth of new indigenous multimillionaires in the oil sector.

Every change comes with alternatives forgone, don't just complain, be positioned.

Change Is Constant, the people who fight change are often the victim of change.

People who helped midwife change benefits the most.

https://leadership.ng/nnpc-to-discontinue-crude-swap-targets-cash-payments-for-petrol-imports/

Subsidy payment is just one of the several functions of the NNPC.

NNPC has ended when Petroleum Industry Bill was passed into law

What we have is NNPLC a private company with Nigeria owning stakes

People like Forte Oil, Oando, Bovas would show NNPLC shege.. it's now a free market

What's the usefulness of them initially

solmusdesigns:
NNPC has ended when Petroleum Industry Bill was passed into law

What we have is NNPLC a private company with Nigeria owning stakes

People like Forte Oil, Oando, Bovas would show NNPLC shege.. it's now a free market

Cefini,

The new monies are going to really slug it out with the government stake in the years to come as there would be great alliance once the government of the day finally takes off.

The big players will be building their refineries in time from the windfall and outcome of the free market to be expected from this opportunity explosion.

Subsidy removal won't be possible if the capitalists have not been pushing for it. There's the part that will favor some folks at the start, but free market will eventually favor all at the end.

It now a free market.

If NNPC has been the sole importer of pms, who are then the oil cabal ?
And if the cabals are the NNPC then what they simply did is to pass the borden of satisfying their greed to the masses. It's government duty to protect us, that the subsidy is gone does not mean that we will pay exorbitantly for fuel.
Until others are given license to import fuel under same condition with NNPC, the price of pms should remain low

Igwe9:
If NNPC has been the sole importer of pms, who are then the oil cabal ?
And if the cabals are the NNPC then what they simply did is to pass the borden of satisfying their greed to the masses. It's government duty to protect us, that the subsidy is gone does not mean that we will pay exorbitantly for fuel.
Until others are given license to import fuel under same condition with NNPC, the price of pms should remain low

Very insightful question, our problems ought to really enrich us to creating a lasting solution. How have we been getting our petroleum resources ever since we stopped refining hydrocarbons?

That's far too much, but how many barrels of oil per month do we consume? Who are ones responsible for the purchasing and what are their facts and figures and what does their statistics says? NNPC, IPMAN.

The source of our statistics remains the best benchmark for our consumptions. There's no black market bringing petroleum products to Nigeria, so it's nnpc, then it's distribution exercise is done by IPMAN across the land.

Now, the precursory to "independent marketers' take over" is what we are having as for now. What's in the news is that NNPC would no longer exchange crude oil for petroleum but sell crude oil and buy petroleum.

So instead of exchange, it now buys and sells to refineries at home and in the international markets. It also pays for petroleum products.

With time, home based refineries will have excess petroleum products to sell to IPMAN and to nnpc. Sooner or later, NNPC will have less petroleum to buy from abroad.

With more indigenous refinery, it will be buying the same product from where IPMAN is buying at home in that instance and would serve as a regulatory body in that it could sell with minimal profit margin where IPMAN would have exploited the market.

In this instance, it's still a consumer protective system, businesses are out to maximize profits anywhere they are sited. Government is often running at deficit, except the ones with almost zero tolerance for corruption.

https://twitter.com/StatiSense/status/1666133252535463956?t=mSmfy3RHm1dZYO80Zs_KIg&s=19

solmusdesigns:
NNPC has ended when Petroleum Industry Bill was passed into law

What we have is NNPLC a private company with Nigeria owning stakes

People like Forte Oil, Oando, Bovas would show NNPLC shege.. it's now a free market

With the way NNPC is going and if it continues going in such direction, I see it taking over the downstream sector.

They have the highest reach of all the players (from Lagos to Maiduguri) and have more capacity than most of the players, if they can maintain the business sense, in a few years they will take over the downstream sector.

FYI, same NNPC has taken over Oando stations nationwide thereby increasing it's reach and bringing itself closer to more consumers.

Raheeqilmaktoom:


With the way NNPC is going and if it continues going in such direction, I see it taking over the downstream sector.

They have the highest reach of all the players (from Lagos to Maiduguri) and have more capacity than most of the players, if they can maintain the business sense, in a few years they will take over the downstream sector.

FYI, same NNPC has taken over Oando stations nationwide thereby increasing it's reach and bringing itself closer to more consumers.

This is revelation.

The refineries are down, but we still export crude. What infrastructure is working behind the scenes? Oil wells.

So, if it's the core interest of the capitalists to make the refinery works, it would be like the infrastructure that keeps the oil well active.

The moribund refineries were preparatory to this phase a long time ago. Each successive government has been trying to brave the issue.

Tinubu possibly opt for the end of subsidy on the ground that a refinery is now on ground. This reality does not exist in Jonathan era.

Una no Sabi economics one bit 😂

NNPC will monopolize the downstream sector in a free market. Nobody can beat NNPC's price, logistic and experience. I've repeated this many times.

The only thing that will prevent NNPC from monopolizing the market is a provision in the PIA which says that they should not exceed 30% of the market.

absoluteSuccess:


Very insightful question, our problems ought to really enrich us to creating a lasting solution. How have we been getting our petroleum resources ever since we stopped refining hydrocarbons?

That's far too much, but how many barrels of oil per month do we consume? Who are ones responsible for the purchasing and what are their facts and figures and what does their statistics says? NNPC, IPMAN.

The source of our statistics remains the best benchmark for our consumptions. There's no black market bringing petroleum products to Nigeria, so it's nnpc, then it's distribution exercise is done by IPMAN across the land.

Now, the precursory to "independent marketers' take over" is what we are having as for now. What's in the news is that NNPC would no longer exchange crude oil for petroleum but sell crude oil and buy petroleum.

So instead of exchange, it now buys and sells to refineries at home and in the international markets. It also pays for petroleum products.

With time, home based refineries will have excess petroleum products to sell to IPMAN and to nnpc. Sooner or later, NNPC will have less petroleum to buy from abroad.

With more indigenous refinery, it will be buying the same product from where IPMAN is buying at home in that instance and would serve as a regulatory body in that it could sell with minimal profit margin where IPMAN would have exploited the market.

In this instance, it's still a consumer protective system, businesses are out to maximize profits anywhere they are sited. Government is often running at deficit, except the ones with almost zero tolerance for corruption.

NNPC isn't under obligation to buy fuel at the international market, the company is a key and major investor in the Dangote refinery (20% stake) plus it's own refineries coming online in the next few years and possibly more deals and agreements with other players - the sky is the starting point for NNPC, if they can run it as business.

If not for a few limiting clauses in it's act, it's a Standard Oil (google about the company and how it worked) in the making in relation to our smaller oil companies (especially mid and downstream).

absoluteSuccess:
The end of subsidy may eventually mark the end of nnpc dominance of the oil sector.

It would be the birth of new indigenous multimillionaires in the oil sector.

Every change comes with alternatives forgone, don't just complain, be positioned.

Change Is Constant, the people who fight change are often the victim of change.

People who helped midwife change benefits the most.

https://leadership.ng/nnpc-to-discontinue-crude-swap-targets-cash-payments-for-petrol-imports/

Alternatives to petroleum, clean energy.


https://www.youtube.com/watch?v=pKMmOUyg6xA