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Nairaland Forum / Nairaland / General / Politics / FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA (1691 Views)
FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA / Fuel Strike: FG Now Owes Marketers N470b - Vanguard / FG Now Funds IDP Camps In Borno, Says Shettima (2) (3) (4)
FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by olatade(m): 9:51am On Dec 07, 2015 |
The Federal Government is now paying for transportation surcharge on imported fuel not extra cost of fuel, due to the drop in the global oil price to about $45 a barrel. A check by Daily Trust on the template of the Petroleum Product Pricing Regulatory Agency (PPPRA) published on December 3, 2015 indicated that the landing cost of Premium Motor Spirit (PMS) locally known as petrol has dropped to N80.69k per litre as against N88.7per litre on September 3, 2015. The template published by the pricing agency in its website, indicated that the landing cost plus other margins of the petrol per litre is now N96.18k. This translates to payment of N10.7k transportation expenses such as trader’s margin, Nigeria Port Authority charges, jetty depot thruput charges, lightering expenses and storage due to the inability to refine fuel locally. Other expenses that gulped N15.49k on each litre are that of distribution expenses such as retailers, transporters, dealers, bridging fund, Marine Transport Average (MTA). C+F (Cost, Insurance and Freight) as at that date was N69.99k at the Conversion Rate (MT to Litres): 1341 and Exchange Rate (N to $) at 197. With C+F at N69.99k plus transport margins of N10.7 k, Nigerians should be paying N80.69k per litre if the fuel can be refined locally. Currently, the three local refineries in Kaduna and Port Harcourt and Warri are virtually refining nothing. With the combined refining capacity of 445,000 barrels per day, the three refineries if fully working can atleast provide about 40 per cent of the country’s daily fuel need. Reacting to the situation, a lecturer at Economics Department, Ahmadu Bello University, Zaria and member, Daily Trust Board of Economists, Dr Muttaka M. Usman said although the country has no capacity to refine local fuel due to poor refineries, the government should look at total domestication of fuel refining in the near future. Usman said with this situation, it’s the right time for government to exit the so called fuel subsidy and concentrate in building more local refineries in collaboration with private managers. According to him, many countries own refineries but hand them to private sector to manage, a situation that reduces serious maintenance burden on government. http://dailytrust.com.ng/news/business/fg-now-pays-transport-surcharge-not-subsidy-on-imported-petrol--pppra/123004.html |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by Kyase(m): 9:55am On Dec 07, 2015 |
Isn't this beautiful? |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by obasiken: 9:59am On Dec 07, 2015 |
Too much english to misdirect gullible people. I had to queue for hrs to buy fuel in abj and christmas is coming. If the scarcity continues i will have to pay up to 25k for fuel back to the village. 2 Likes |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by neverever10: 10:06am On Dec 07, 2015 |
Lol this country Shaa |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by Davijunson: 10:13am On Dec 07, 2015 |
i'm confused... I don't understand anything from that post |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by Nobody: 10:14am On Dec 07, 2015 |
Kyase: Yes as beautiful as the hunger in somalia and sudan. Anyway good news. At least I bought fuel at N130 per litre even with crude oil at $43 per barrel. Things are getting berra! |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by kenny987(f): 10:18am On Dec 07, 2015 |
Just change d package even when d content is d same. Afterall that is how it's done for change of name. 'I, Fuel Import Subsidy now wish to be known as Fuel Import Transport Surcharge. All other documents and transactions remain valid.' 3 Likes 2 Shares |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by otokx(m): 10:20am On Dec 07, 2015 |
Bought petrol for 125 naira litre at AP by Uniport gate. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by manutdadex(m): 10:23am On Dec 07, 2015 |
Who una dey decieve |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by chukel(m): 10:25am On Dec 07, 2015 |
Idonbelivit until I buy petrol at 87 naira or less without queuing. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by TonyeBarcanista(m): 10:45am On Dec 07, 2015 |
FG government should stop paying anything to marketers. The open market cost is now N98 per litre. That's not too much 1 Like |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by suxkill: 10:59am On Dec 07, 2015 |
na una go tire with this changi!!! wen we enter dole next year,pump price will be 180!!! |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by wachakuta(m): 11:01am On Dec 07, 2015 |
Slow but surely |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by IbokUtoroh(m): 11:15am On Dec 07, 2015 |
wachakuta:i bet u, u dont understand a pinch in that article. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by denziz: 11:20am On Dec 07, 2015 |
Grammar,subsidy na subsidy. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by omowolewa: 11:26am On Dec 07, 2015 |
Call it any name, government still pays importer over the fuel imported , simple. Don't use Patrick Obahigbon style for us, this no be Edo. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by idupaul: 11:32am On Dec 07, 2015 |
What is the difference |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by CallPolice: 11:36am On Dec 07, 2015 |
otokx: chukel: obasiken: denziz: The FG don't subsidize fuel anymore that is why you buy fuel as that price. it won't go below that. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by TimeManager(m): 11:49am On Dec 07, 2015 |
As Long As These Marketers Still Exists, There Is Subsidy
No Lie Only Truth! |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by dgr8truth(m): 11:56am On Dec 07, 2015 |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by greenermodels: 2:32pm On Dec 07, 2015 |
CallPolice:read the article well, they are still paying #15.49 per litre so that petrol would be sold at #87. |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by Meriekriss: 2:46pm On Dec 07, 2015 |
So why are we still having fuel scarcities |
Re: FG Now Pays Transport Surcharge, Not Subsidy On Imported Petrol – PPPRA by sanmibukunmi: 2:51pm On Dec 07, 2015 |
lol thus government will use English language to finish us all...... |
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