Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,208,031 members, 8,001,149 topics. Date: Wednesday, 13 November 2024 at 03:40 AM

No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited (35721 Views)

Economy: Nigerian Oil Subsidy Payments Burden. / Senate Begins Probe Into Oil Subsidy Payments In Buhari’s Government / Atiku Reacts As Buhari Unveils NNPC Limited (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (Reply) (Go Down)

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by gaby(m): 5:29pm On Jul 05, 2023
Na this one we dey call country?

Smh

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by busomma: 5:30pm On Jul 05, 2023
Can somebody explain to Nigerians what happened to the trillions of Naira that has been paid to marketers all these yrs?

2 Likes

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 5:30pm On Jul 05, 2023
Jd10k:
Hate has beclouded so many people that they can read or reason right.
The story is that NNPC is buying high but selling cheaper to Marketers instead of paying them Cash as obtained pre 2016.

NNPC is buying high from who?

NNPC is solely responsible for crude exports. Same NNPC is responsible for petroleum products imports.

Same NNPC has never come out to declare the total revenue realised from crude sale at any particular point in time. Doesn't that tell you there's been a "crude for petrol" swap arrangement going on over the last 8years?

If that has been the case, then why has NNPC been quoting over 350billion naira monthly subsidy budgets for the past 8years? Are you saying the cost of refining and transportation of these products is what's been gulping those monumental amounts being quoted?

My head is spinning right now.

4 Likes

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by OlujobaSamuel: 5:31pm On Jul 05, 2023
obailala:
After reading the title, I opened this thread knowing that 90% of the readers wouldn't understand the report. grin
You are too generous. 99% actually
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Bfly: 5:36pm On Jul 05, 2023
Most of these blames is on the masses who allow themselves to be subjected to divide and rule where the people are preoccupied with, ethnic, religion and partisan sentiments. Instead of focusing on maintaining a proper governance.

How all these things happen without masses awareness is a blow on the masses. And that is why they will continue to suffer.

Snake swallow money, someone hired plane to deceive us, etc.

To me the soul of the masses has been conquered, the best they can do is complain and wake up to thesame thing.


How i wish the southeast can just get the f__k out of this country and let us focus on the government. But the government needs them for this to continue.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Blacktruth: 5:37pm On Jul 05, 2023
Wonders shall never end

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by mailmitch(m): 5:38pm On Jul 05, 2023
You see this government of APC will be the beginning of a revolution that will end or begin a new Nigeria. Since 2016 no shishi was paid to Marketer's. And they all kept quiet because they where also enjoying from the crude equivalent of their money. Buhari and APC really did Nigeria dirty angry angry

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by MoneyMustBMade(m): 5:40pm On Jul 05, 2023
basilo102:
Which means they shared the subsidy money. Which means actual price without subsidy should be 180. Which means Tinubu only increased the price to recoup his election bribery

Ok you don't know before?

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Advancedman(m): 5:41pm On Jul 05, 2023
advanceDNA:
Lol....since 2016?? Marketers no collect any money?? ...so marketer have been supplying fuel on credit for 8 years ??

This goverment!!!!
Una no dey tire to steal...

Nigerians about to be scammed again....
Federal goverment about to give us one dirty explantion of how they said they've been borrowing to pay but technically they have not been paying......


Tinubu puts a call tru to chief of staff...

"ogbení...get me lai mohammed...only he can package this lie to nigerians with a straight face, no pity, and ofcourse, with a horrible looking cap"


Supplying for free




Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Asswipemod: 5:41pm On Jul 05, 2023
nairalanda1:
Since 2016, NNPC has been selling fuel to the market at a price lower than that of the cost of bringing it into the country.

The market then sells it at a price above the NNPC sale price, which is fixed by government

Government then pays NNPC to compensate it for the losses it sustains selling fuel to market below import cost/landing cost

That is what Mele Kyari means.

Don't mind the numbskulls, dunderheads, dudbrains and bozos on this forum that read without understanding jack, then start posting rubbish feedback.
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:43pm On Jul 05, 2023
ManWater:


So which people were alleged to be benefiting from what was termed Fuel Subsidy Scam?

The smuggliers, government officials, and a host of other people

Before 2016, marketers, etc.
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:43pm On Jul 05, 2023
Angelfrost:
Where is the top defender, Nairalanda1?!!

No subsidy was paid, yet they have been subsidizing Fuel!

When I say that until Corruption is tackled starting from the top to all sectors, no policy will work, y'all think I'm blabbing!


Buddha3, Lexy2014, Vinniejones, CSTRR,... Una dey see una leaders?!!

They will feed hungry and mentally-deficient Nigerians Propaganda upon Propaganda till they drop dead in the streets!

Rather childish of you, dear lad.

I expected better.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:44pm On Jul 05, 2023
CodeTemplar:
I love eating peaches.
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Asswipemod: 5:44pm On Jul 05, 2023
mailmitch:
You see this government of APC will be the beginning of a revolution that will end or begin a new Nigeria. Since 2016 no shishi was paid to Marketer's. And they all kept quiet because they where also enjoying from the crude equivalent of their money. Buhari and APC really did Nigeria dirty angry angry

Are you a marketer? Did any marketer come out to tell you that he has been not been paid since 2016? Is it possible to be doing business without being paid since 2016 and not fizzle out into oblivion? Go back and read again. Comprehension deficiency de worry all of una.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by OmoNla99: 5:46pm On Jul 05, 2023
Naija, the more you look, the less you see.
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 5:46pm On Jul 05, 2023
advanceDNA:
Lol....since 2016?? Marketers no collect any money?? ...so marketer have been supplying fuel on credit for 8 years ??

This goverment!!!!
Una no dey tire to steal...

Nigerians about to be scammed again....
Federal goverment about to give us one dirty explantion of how they said they've been borrowing to pay but technically they have not been paying......


Tinubu puts a call tru to chief of staff...

"ogbení...get me lai mohammed...only he can package this lie to nigerians with a straight face, no pity, and ofcourse, with a horrible looking cap"

Flets:
This is just Fraud without end. Instead of Tinubu to go after these criminals, the already poor Nigerians are made to pay for the sins of these politicians.

taylor89:
Just put it no fuel subsidy payments since APC took over

Very devilish party supported by mad people

It is unfortunate how you can't understand a simple statement but rushed to comment in ignorance.
Crude Swap Arrangement gave NNPCL the crude equivalent worth of the refined products they used to import within the period he mentioned and NNPCL was sole importer of the PMS thereby distributing it to marketers at subsidized rate, federal government still owes the firm the sum of N2. 8 trillion spent on petrol subsidy between 2016 and May this year that is why NNPCL couldn't make reasonable profits since commercializing it by PIA due to the subsidy being finaced by the company not FG.
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by endy69: 5:48pm On Jul 05, 2023
nairalanda1:


In 2016, Buhari made NNPC the sole importer of fuel.(to cut subsidy costs, as before there were many importers, including marketers).

That meant that NNPC was importing fuel at a certain price and selling to market below that price. (As at 2022 Aug, NNPC was bringing in fuel at N391, and market price was around N186)

At the end of the day, NNPC loses money from doing that, so government pays them a subsidy...or compensation for that.

As for whether there was looting...that;s for an audit to answer.
Then, if NNPCL is has been the sole importer since 2016, why are you telling us that marketers are stealing? Does it add up? APC told us they borrow to pay subsidy to marketers now there's no marketers only NNPCL, who has APC been paying subsidy to? Why remove subsidy if only NNPCL a government agency is the sole importer of petroleum? Why didn't the refineries work? APC need to answer all these questions and more. Now everyone knows that subsidy was not removed because marketers steal because there are no marketers since APC took over
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:48pm On Jul 05, 2023
Buddha3:


I read through the thread before it hit the front page, but I was too shell-shocked to even find the words to comment.

Like, if the government hasn't paid subsidy to marketers since 2016, then what in God's name has Buhari been using all the loans for? I thought they've consistently claimed that the Fulani failure took loans to pay subsidy?

This is a total deviation from the picture they've painted in the last 8years. I no even sabi wetin to talk again!

In 2016, Buhari made NNPC the sole importer, which means NNPC imported fuel at price X and sold at a lowe price Y

The difference between price X and Y was paid as subsidy

Add monies paid to transporters to keep the cost of fuel the same across the country

There is your subsidy cost.

Oga, I used to respect you. Now you have joined the mockers. I am not defending any corruption. I am giving an explanation.

Sigh.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by MOVIC6: 5:49pm On Jul 05, 2023
So the are accomplice to the daylight robbery and corruption in Government, for them to even consent to fuel subsidy without bringing this present outcome to the table since 2016, they're same people...
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by advanceDNA: 5:50pm On Jul 05, 2023
ArewaNorth:






It is unfortunate how you can't understand a simple statement but rushed to comment in ignorance.
Crude Swap Arrangement gave NNPCL the crude equivalent worth of the refined products they used to import within the period he mentioned and NNPCL was sole importer of the PMS thereby distributing it to marketers at subsidized rate, federal government still owes the firm the sum of N2. 8 trillion spent on petrol subsidy between 2016 and May this year that is why NNPCL couldn't make reasonable profits since commercializing it by PIA due to the subsidy being finaced by the company not FG.

Lol.....Werey.....always backing up ur opressors...explaining on their behalf..... when will u be free....? How much are they paying u??

2 Likes

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Amakayuruba: 5:50pm On Jul 05, 2023
taylor89:
Just put it no fuel subsidy payments since APC took over

Very devilish party supported by mad people
na you sabi
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:50pm On Jul 05, 2023
endy69:

Then, if NNPCL is has been the sole importer since 2016, why are you telling us that marketers are stealing? Does it add up? APC told us they borrow to pay subsidy to marketers now there's no marketers only NNPCL, who has APC been paying subsidy to? Why remove subsidy if only NNPCL a government agency is the sole importer of petroleum? Why didn't the refineries work? APC need to answer all these questions and more. Now everyone knows that subsidy was not removed because marketers steal because there are no marketers since APC took over

It's because you are mixing the 2012 situation with the 2016 situation.

Marketers were not allowed to import from 2016

How marketers stole was by smuggling fuel. Which they always did until the subsidy got removed completely

Subsidy payments since 2016 went to NNPC and to transporters of fuel

(Kai, people don't get it at all)

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by MOVIC6: 5:51pm On Jul 05, 2023
taylor89:
Just put it no fuel subsidy payments since APC took over

Very devilish party supported by mad people

This's not about Apc, they're both accomplice to this fraud, they knew funds weren't coming in, they kept quiet knowing they will still gain from it..
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ednut1(m): 5:51pm On Jul 05, 2023
stanech:
I don't get it. Would it not be better to have given the crude oil to the people that refines it for a fee and then send the finished products to us? that way we only have to pay for the cost of refining and transporting?

Why are our leaders this wicked?
that what they have been doing . The fraud is in the quantity of crude used for exchange. Since its a private agreement
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Moniya4Real(m): 5:52pm On Jul 05, 2023
Nigeria drama no Dey tire person… wait and watch how Myelle Kyari will quickly come out to say his statement was misconstrued
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by transient123(m): 5:52pm On Jul 05, 2023
nairalanda1:
Since 2016, NNPC has been selling fuel to the market at a price lower than that of the cost of bringing it into the country.

The market then sells it at a price above the NNPC sale price, which is fixed by government

Government then pays NNPC to compensate it for the losses it sustains selling fuel to market below import cost/landing cost

That is what Mele Kyari means.

This is succinctly put, alas, most people commenting didn't understand the technicalities. All the same, it's a round trip of corruption.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by endy69: 5:52pm On Jul 05, 2023
Asswipemod:


Are you a marketer? Did any marketer come out to tell you that he has been not been paid since 2016? Is it possible to be doing business without being paid since 2016 and not fizzle out into oblivion? Go back and read again. Comprehension deficiency de worry all of una.
Are in better position to tell Nigerians who has been paid than NNPC?

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by DOptical: 5:53pm On Jul 05, 2023
cool
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 5:54pm On Jul 05, 2023
transient123:


This is succinctly put, alas, most people commenting didn't understand the technicalities. All the same, it's a round trip of corruption.

Yeah, that';s why I ended up not supporting subsides since 2012. Once you see the corruption in it, you find out enough is enough.

Buhari was wrong to support subsidy retention, wrong to keep it, and Tinubu was wrong to support him

Infact, the whole thing is just a round trip of corruption, then add smuggling.

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by stanech: 5:55pm On Jul 05, 2023
ednut1:
that what they have been doing na

so why are they complaining that there is no money to pay subsidy?

And if that's the case then shouldn't the product be way cheaper. ?

1 Like 1 Share

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by endy69: 5:57pm On Jul 05, 2023
nairalanda1:


It's because you are mixing the 2012 situation with the 2016 situation.

Marketers were not allowed to import from 2016

How marketers stole was by smuggling fuel. Which they always did until the subsidy got removed completely

Subsidy payments since 2016 went to NNPC and to transporters of fuel

(Kai, people don't get it at all)
Pls help me get it. If NNPC is sole importer of fuel, who then hike the amount of fuel consumed? NNPC or marketers. Let me believe NNPCL imports and sell to marketers, Joe possible is it that NNPC don't know the amount of petroleum consumed daily in this country. Again is the federal government owning subsidy since 2016? If not then NNPC MD should come out and explain better

1 Like

Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 5:57pm On Jul 05, 2023
nairalanda1:


In 2016, Buhari made NNPC the sole importer, which means NNPC imported fuel at price X and sold at a lowe price Y

The difference between price X and Y was paid as subsidy

Add monies paid to transporters to keep the cost of fuel the same across the country

There is your subsidy cost.

Oga, I used to respect you. Now you have joined the mockers. I am not defending any corruption. I am giving an explanation.

Sigh.

You don't need to school me on the derivation formula that births subsidy. Outside the fact that I'm well read, I had a brief stint in the oil sector between 2011 and 2013.

One eery observation any keen mind would have made over the years spanning through Buhari's tenure, is the fact that the NNPC has been either very elusive or vague whenever it came to declaring total revenue accrued from crude oil sales.

Now, we all know the NNPC has been solely responsible for crude sales. If they don't post earnings, it is safe to believe that there's been a "Crude for petroleum products" kind of swap arrangement in the books, since the same body was responsible for exports and imports. And except I have lost my sense of understanding, Mele Kyari duly implied that with this exposé.

So, if that has been the trade arrangement bringing in petroleum products, are you saying that just the expenses involved in the transportation of these products and other extant expenditures, is what's been gulping over 350billion naira monthly for the past 8years?

3 Likes

(1) (2) (3) (4) (5) (6) (7) (8) (Reply)

Not A Single Kobo Has Been Saved From Fuel Subsidy Removal - Ajaero / Is This The Audio Of Oba Akiolu's 'Die In The Lagoon' Speech? / Burial Of Pro-Biafra Shot Dead During Protest In Onitsha

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 57
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.