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Nairaland Forum / Nairaland / General / Politics / No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited (35266 Views)
Economy: Nigerian Oil Subsidy Payments Burden. / Osun Govt To Marketers: Hoard Fuel, Face Persecution For Economic Sabotage / Atiku Reacts As Buhari Unveils NNPC Limited (2) (3) (4)
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Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by rajiedreez: 5:58pm On Jul 05, 2023 |
This one na ojoro |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Angelfrost(m): 5:59pm On Jul 05, 2023 |
nairalanda1: Childish?!!... You don't know the meaning of the word! Your theories won't work here... The reason?!! Corruption! What is really childish is constantly repeating them on every thread! Now, that is CHILDISH! I expect nothing from anyone who tosses unrealistic and imaginary tales in every thread! Do me the same courtesy... Expect nothing!!! Thank you!!! |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 6:00pm On Jul 05, 2023 |
Angelfrost: Well, at the end, whatever you think of me, the fact is, we have no control over the facts. Good evening. 1 Like |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 6:03pm On Jul 05, 2023 |
Buddha3: Now you know why I effing hate the subsidy regimen? Why I effing wanted it gone since these 10 years? Thanks a lot. People don;t have to think the same as you do. Good evening. And don't abuse me again. 1 Like |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by shonepa(m): 6:04pm On Jul 05, 2023 |
And you belive the man? 2016? taylor89: |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by TenQ: 6:09pm On Jul 05, 2023 |
nairalandkachy1:It just proved that this recent Subsidy Removal is a SCAM. How can you remove what is not already present? But then, the Buhari administration has to explain the account where the Subsidy was paid in |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by misano(m): 6:10pm On Jul 05, 2023 |
ArewaNorth: So who will pay that 2.8 trillion to NNPCL? 1 Like |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 6:10pm On Jul 05, 2023 |
nairalanda1: You have a shrewd way of understanding things. Where in God's name did I abuse you in that last response, for fvck's sake?! |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ednut1(m): 6:14pm On Jul 05, 2023 |
stanech:because there was no enough oil at some point as our production went down. Nnpc typically owns 55% of oil produced in Nigeria. From that same oil they sell some and use it to pay shell,chevron and co as its a joint venture. Also the pricing for crude oil is determined by OPEC, petrol price by refinery is determined by the refinery. So summary is NNPC did not have enough share of crude oil to give refinery and to also fund its 55% cost of operations with other oil companies . Petrol was also being diverted to benin, cameroon and the likes 1 Like |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by bigtt76(f): 6:15pm On Jul 05, 2023 |
e don bi dis nairalandkachy1:
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Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 6:15pm On Jul 05, 2023 |
Buddha3: Your comment to Angelfrost, where you implied I was somehow insensitve. Buddha3: If I misread it, I apologise. But I was so pissed that people deliberately misunderstood what I was saying to mean I was defending Buhari, when maintaing subsidy was a big mistake in the first place. At the end, I am not defending anyone, or anything. All I have here is based on my understanding of the subsidy regime and what I read. It hurts me that people don't get what I am saying. At all. You cannot put price controls on anything and expect smooth running. All the communist countries tried it, it failed spectacularly. People like to make money, because things cost money. And once there is a subsidy, man, there is corruptiion, stealing and evil following. 1 Like |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 6:16pm On Jul 05, 2023 |
misano: FG since they subsidized what they shouldn't which is tagged scam. With the current PMS price it is now clear wether there was subsidy or not! |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by ArewaNorth: 6:18pm On Jul 05, 2023 |
advanceDNA: Hate and emotionally controlled opinions can't give facts to verdict like this. This is fact and need to be clarified! |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nisam: 6:18pm On Jul 05, 2023 |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 6:20pm On Jul 05, 2023 |
nairalanda1: No offence taken. To be able to relate better with people on social media spaces, you need to learn to be less emotional. You seem like a dude who's super sensitive to words. ![]() |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by frog12: 6:21pm On Jul 05, 2023 |
nnpc is the most useless company ever. they are responsible for the hardship nigerians are facing now |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by nairalanda1(m): 6:22pm On Jul 05, 2023 |
Buddha3: I get too angry sometimes, I admit, and I take the internet too personal. Anyway, at the end, like I say to myself, this is just a site. In ten years, no one would recall this thread. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by misano(m): 6:22pm On Jul 05, 2023 |
ArewaNorth: So from now the FG will start paying NNPCL, right? Okay thanks for the explanation. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 6:26pm On Jul 05, 2023 |
nairalanda1: You're not entirely correct. The internet never forgets. Reason I tell people to be careful what contents they put out for public consumption. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by GodWrites: 6:26pm On Jul 05, 2023 |
advanceDNA: Your govt are group of Yahoo Men, not boys ![]() |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by KingOfTheDamned: 6:29pm On Jul 05, 2023 |
TemplarLandry: As an Obidient I for abuse you o. But I like your comment . We all want a better Nigeria be it Obi or Tinubu there. I really hope jagaban can crust this nnpc cabal. Nnpc is the real cabal we all hear about |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by phorget(m): 6:29pm On Jul 05, 2023 |
All we ask of them is just for us to be allowed to breathe but they would rather see us breathless... ![]() |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Eriokanmi: 6:36pm On Jul 05, 2023 |
Flets:He'd never do that, even though he knows them. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by vincentbravo(m): 6:41pm On Jul 05, 2023 |
Buhari is a thief |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by stepaside2: 6:43pm On Jul 05, 2023 |
My understanding is this; 1. Ordinarily without subsidy, NNPC sells its share of (profit) crude oil in the international market and remit to the federation account 2. With subsidy, NNPC 'buys' refined products at international prices, say N390 per litre and sells at subsidized rate of N160 per litre to Nigerian marketers who add their own mark up and sell at N185 per litre to make their own profit 3. The difference between N390 cost price and N160 subsidized price is paid for by NNPC using crude that should have been sold and money remitted into federation account 4. Reason why there was little or no remittance into federation account by NNPC for a long period of time 5. Because little or no revenue accrued into federation account, FG and States couldn't get money allocated to run their govts effectively leading most times to massive borrowings to cover recurrent and capital expenditure Above is a simple summary of how it works. Fundamentally, subsidising consumption is fiscally not sustainable fir a country like ours that can't afford it (compare Saudi Arabia with more than 10million barrels of crude production daily for about 35 million people with Nigeria that produces 1.3million barrels per day for 200million people. One can afford to subsidize while the other will soon collapse if it continued subsidizinh). Now there are lots of questions about the subsidy scam within NNPC which I believe is the biggest scam in our history as volumes and crude production numbers have been grossly inflated and under reported respectively on a daily basis that was is claimed as subsidy is hugely more than what it actually should be. That has gone into private pockets. If you add massive crude theft under the watch of security forces and NNPC, you then appreciate the scale of the heist. NNPC leadership and officials have a lot of questions to answer and that place should be completely purged and probed for crimes committed against Nigerians. 1 Like 1 Share |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Angelfrost(m): 6:45pm On Jul 05, 2023 |
Buddha3: Nairalanda1 needs to spend some time with us in Football threads when season starts! He go get thick skin by force! ![]() |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Nobody: 6:46pm On Jul 05, 2023 |
Angelfrost: ![]() ![]() I swear down! With these sort of emotions, men go so fvck am up for football threads eh! |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by Alphanancy: 6:49pm On Jul 05, 2023 |
nairalanda1:Who owns NNPC? Is it the same NNPC that is said not to have made any remittances to the Federation account in years despite selling millions of barrels of crude? |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by onuman: 6:56pm On Jul 05, 2023 |
Not only from 2016 but from 1960. APC and its appointees in government offices are propagandists of falsehood. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by onuman: 6:56pm On Jul 05, 2023 |
taylor89:Evil APC. I did not see your comment before mine above. |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by tsdarkside(m): 6:59pm On Jul 05, 2023 |
what....?? you are even owin marketers sef.... you nigerians are something else.... all this noise and you are actualy owin.... |
Re: No Fuel Subsidy Payments Have Been Made To Marketers Since 2016 – NNPC Limited by AskNgige2: 7:11pm On Jul 05, 2023 |
Flets: Which Tinibu? The saints? |
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