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Nairaland Forum / Nairaland / General / Politics / Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre (20661 Views)
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Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by ItswellMike: 7:15am On Jun 11 |
Dannyset:Useless president
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Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by sulaak(m): 7:16am On Jun 11 |
stonemasonn: That was a lesson from SAP in 1986. Nigerians just never learn.. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by watchindelta(m): 7:16am On Jun 11 |
Everyone complain of doing their work in this country. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by RepoMan007: 7:16am On Jun 11 |
lastmessenger:accounting is just multidimensional counting of financial book metrics. It is like trusting a fufu pounder or melon peeler labourer - a simple, repetitive and mundane task - with assorted dish restaurant where fried rice, multiple sauces, african soups have to be cooked. Or trusting a storehouse manager with product design and development in a huge manufacturing industry. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by MaziObinnaokija: 7:19am On Jun 11 |
nah beg we beg una oo .Make una nor use that kind style hike petrol to 2,000k |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Dannyset(m): 7:21am On Jun 11 |
Emu4life: Since your entire household has a comprehension problem, I will leave you to your fate. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by NaijaOlosho(f): 7:25am On Jun 11 |
Can't be without the help of customs and Navy Na we dey kill ourselves It's now okay to say We can't redeem this greedy country again 1 Like |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by NewHe: 7:26am On Jun 11 |
Why not increase the fuel price in Nigeria to make it unprofitable! |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Blackman101: 7:29am On Jun 11 |
Make we die for naija because Benin and Niger republic are willing to purchase fuel at any crazy amount abi. if the cost of production in Nigeria have been met through the remover of subsidy why all this nonsense talk |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by mrvitalis(m): 7:31am On Jun 11 |
VeeVeeMyLuv:Oga he never floated the currency he only devalued it If he floated our reserve would have been nearing 50 billion dollars 1 Like |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by femicyrus(m): 7:34am On Jun 11 |
The same reason beans is very expensive. Custom officials are somehow effective against importation but clueless about exportation affecting the nation more |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by professorPABX: 7:35am On Jun 11 |
VeeVeeMyLuv: Social Media has become very acidic. Most young people are now distorted and under mental illusions and it is very difficult for them to hear the voice of reasoning. Black man may never recover with the kind of people being groomed today . What are the repercussions? The subsidy removal and the floating of Naira according to you made PMS being sold at =N=1,700 or more at neighbouring countries to be smuggled out and also leads to food being smuggled out. So, if NNPC or Dangote sells at =N=300 per litre and Naira supported with Dollars from loans to be paid by Nigeria to bring it down, the smuggling of foods will stop leaving only Petroleum products to be smuggled out and the prices of PMS to come down at neighbouring countries all at the expense of loans taken by Nigeria. The technicalities involved is very high and political. You and your associates can continue if you cannot decipher the situation in Nigeria. 1 Like 1 Share |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by LandMann: 7:40am On Jun 11 |
VeeVeeMyLuv: The gain of Tinubu is the availability of more money for him and his cronies to loot |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Blazebond(m): 7:41am On Jun 11 |
They have started ringing the alarm bells again,these politicians are pure evil,all this is to make sure that the pump price of fuel remains high and also and excuse for them to raise it higher. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by emorse(m): 7:43am On Jun 11 |
Dannyset:I don't know if the person you quoted has replied you but this is what I think his initial post means: 1. Subsidy was never our problem. The IMF presented subsidy removal as a major solution to our economic woes and all three frontrunners in the last elections believed the idea. Baba won and hurriedly implemented the policy. Fast forward to a year later, not a single benefit has been recorded. Instead, subsidy has quietly creeped back in and this announcement from the FG is probably a ploy to further increase prices. 2. Corruption is the actual bane of our problems: I mean, if subsidy has been removed then it means the petrol that is being smuggled out should be at no extra cost to the FG regardless of how much it is sold over there. It would be a matter for the customs to tighten the borders so as to increase revenues. Something that should have been done even during the subsidy regime. Yes, smuggling could have been curtailed and inflation rate wouldn't have been so high. Let's not deceive ourselves bro, a developing nation like ours needs massive government subsidies in select sectors such as energy and it's likes. Producers must be able to produce at costs where selling at prices that are affordable to average Nigerians will still earn them decent profits. They should also be protected from foreign alternatives by increasing import duties on finished products. That's how to encourage local production and strengthen the local currency. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by membranus: 7:45am On Jun 11 |
professorPABX: You are wasting your precious time arguing with the tribe blinded 1gn0ramus commenting on Nairaland. They are just here for our amusement. 1 Like |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Xox1945(m): 7:49am On Jun 11 |
Everything about APC is always pointing fingers crossed border sealing of fuel never start today |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by lexy2014: 7:51am On Jun 11 |
for the customs CG to be saying this means that he has no shame. ideally, he is not supposed to allow a single tanker to find its way through the borders. if products are being smuggled under his watch, that is what he is supposed to be talking about and not the price of the product across the border |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by MaziX(m): 7:56am On Jun 11 |
Nor upto that |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Klington: 7:57am On Jun 11 |
oluwaseyi0: The problem with unreasonable empty headed people like you is that they don't consider how weak the naira has become. Try to find out the exchange rate btw your weaker currency and Benin CFA. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by jojothaiv(m): 7:58am On Jun 11 |
100millionGoal:😂😂😂😂😂😂 |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by emorse(m): 7:59am On Jun 11 |
professorPABX:Not at all. However, tightening the borders to prevent smuggling, subsidising energy to bring down the cost of production and discouraging importation of finished goods by increasing duties will stimulate industrial growth and save us scarce Forex in the long run. We wouldn't have to care about the price of petrol in neighbouring countries. But where is the political will to do the right things? That's what China is doing bro. That's why Chinese EVs are more competitive in the European market and the IMF / Americans are not happy about it. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by morgstreme: 8:04am On Jun 11 |
100millionGoal: You are no different.. You just don't have the opportunity.. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Zimzy(m): 8:05am On Jun 11 |
100millionGoal:. The military and the custom will be actively involved in the process. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by morgstreme: 8:06am On Jun 11 |
VeeVeeMyLuv: Another moronic spew from a misguided pained, Ignorant juvenile.. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by 100millionGoal: 8:07am On Jun 11 |
morgstreme:I'm different you slowpoke. This stupid mentality is what got us here in the first place rubbish... |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by 100millionGoal: 8:07am On Jun 11 |
Zimzy:100% |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by joceey(m): 8:08am On Jun 11 |
This na propaganda they want to increase the fuel to 1k per litre ,let us watch and see. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by Dannyset(m): 8:10am On Jun 11 |
emorse: Correct, but this is not the point of contention. I am trying to correct the notion that said fuel smuggling to neighbouring countries was because subsidy was removed. That's a big misconception. |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by rajiedreez: 8:10am On Jun 11 |
Why |
Re: Smuggled Nigerian Petrol Floods West African Markets, Sells At ₦1,700/litre by grandstar(m): 8:12am On Jun 11 |
This is fantastic news. The government should continue lying through its teeth that the subsidy is gone. The smuggling speaks volumes. The price of petrol has to be deregulated as done with AGO and kerosene. It's removal would greatly improve the fiscal position of the federal government and end distortions to the economy. 1 Like |
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