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Nairaland Forum / Nairaland / General / Politics / OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? (2423 Views)
'i’ll Dine With The Devil To Ensure Lagos Is Safe' - Edgal Imohimi / In Imo, Petrol Sells For N400 Per Litre, Tanker Driver Shot / PPPRA Fuel To Sell At 86.50 from January1,2016 (2) (3) (4)
OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by DaBullIT(m): 8:51pm On Jan 04, 2016 |
It is no news that the FG has suspended the payment of subsidies to private / independent marketers and the official PMS is 86.50 Although, Punch , Premium times, Sahara reporters and co confirmed that the price has been adjusted in some petrol stations at the FCT Please suggest how to make it work all over the country, At least a suggestion can make a difference TonyeBarcanista , Seun, IshiLove, omenka , modath, Agabai23 , Firefire , Ngeneukwenu , arresa , abduljabbar4 , thevoice , after1 , Honest and reasonable suggestions only 2 Likes |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by TonyeBarcanista(m): 8:58pm On Jan 04, 2016 |
Unfortunately, government can't regulate price in an open market. Market forces is to take care of that. I expect the price of fuel to be sold between N86 and N91 per litre (Depending on the marketer, competition and location). The most important is that subsidy is resting in peace.m. 4 Likes |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by modath(f): 9:02pm On Jan 04, 2016 |
I honestly don't know, short of stationing guards to watch over them!!! Lagos, Abuja, PH & Kano/Kaduna will comply but other states? Nah!! Nigerians are not loyal!! It was 130 @ Ekiti this past weekend!! ![]() |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by HtwoOw: 9:05pm On Jan 04, 2016 |
I get suggestion and he go work |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by psucc(m): 9:07pm On Jan 04, 2016 |
By removing subsidy govt has washed its hands off the importation, distribution and sales of petroleum products. The implication is that the marketers are at liberty to sell at a margin enough to keep them in business. So govt can't deregulate and at the sane time regulate. Sooner or later, it will dawn on us the meaning of such policy. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by HtwoOw: 9:07pm On Jan 04, 2016 |
You are saying you respect how Buhari successfully and Maturely removed Subsidy without causing any panic or protests ? TonyeBarcanista: 1 Like 1 Share |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by HtwoOw: 9:12pm On Jan 04, 2016 |
You are rightly wrong. Government washing hands off subsidy does not mean they are at liberty to sell at any price , Remember when Independent marketers refused to lift crude ?? FG had released funds and investigation was on going about the subsidy claim, Initially it was 712 Billion, Eventually CBN released 413 Billion , which means over 300 Billion was a fraudulent claim Nobody knows everything right ? but i think after the calculation of the payments, Profits, overhead e.t.c.e.t.c , Govn't determined 86.5 was Ok until further research is conducted, Which also means anyone who goes against that instruction is willing to loose operating licence, FG does not just whip up numbers psucc: |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by agabaI23(m): 9:17pm On Jan 04, 2016 |
DaBullIT:I thought they said NNPC will be importing most of the petrol that the independent marketers won't be much involved. If NNPC has the capacity, there won't be any problems. On a lighter note, if you're contracted by the government for this solution, pay for consultancy... |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by Nobody: 9:18pm On Jan 04, 2016 |
Ermm...perhaps DPR could set up stations in ALL state capitals for a start, where citizens can make reports on filing stations selling above N86.5. The locations of the various stations, as well as their contact numbers should be put on a blast, to increase awareness and accessibility. Flowing from the above, petrol stations in breach can be shut down for maybe 2 months or so.This would disincentivise other defaulting petrol stations from inflating the fuel price. They could as well work hand-in-hand with the Nigerian Police and Army to effect this. |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by TonyeBarcanista(m): 9:23pm On Jan 04, 2016 |
HtwoOw:This one is justified 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by TonyeBarcanista(m): 9:31pm On Jan 04, 2016 |
HtwoOw:You are WRONG Sir! In deregulation, government has completely washed its hand. The N86.5 per litre is the open market estimate(not approved pump rate). Marketers can sell higher or lower but market forces will come to play here. It's like telecom sector. The coming of Globacom forced MTN and Econet(now Airtel) to drop the cost of acquiring a Sim card, call rate, as well as forced them to introduced Per second billing. Now, sim is as cheap at N50 to N150 with free N50 to N100 airtime on activation depending on the network. Etisalat came and pioneered free MB on N200 recharge. It forced others to adopt free MB. In fact, SMS that used to be N10 per page is now N2 (MTN-2-MTN). In essence, the market will regulate the price. Also note that with NNPC importing the larger share it means it will be difficult for independent marketers to hold Nigerians to ransome. 3 Likes |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by Simplymeah: 11:12pm On Jan 04, 2016 |
I don't know |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by ScotsReferendum: 11:24pm On Jan 04, 2016 |
Can More competition cause downward price If yes Government should encourage more competition in other states. Signed Scots Referendum ![]() United Nations Referendum ![]() |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by tsdarkside(m): 12:01am On Jan 05, 2016 |
you need alot of agents in the entire nigeria....soviet union,kgb style......but it will cost and needs alot of nigerian patriots that you can find in the officer ranks in the army.....it works for china.... |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by Sibrah: 12:22am On Jan 05, 2016 |
One key area we are getting it wrong that needs urgent attention is the refining process efficiency. Refining cost is known to be largely influenced by scale of the refining process (economy of scale). Our highest capacity refinery is less than 150,000 barrel a day. The most cost effective ones on ground today, globally, are around the 400,000-500,000 barrel per day range. As a matter of fact most refinery out there refine at a rate higher than cost of a barrel at market. If along with Dangote the the FG can build another similar 500,000+ barrel/day refiner then in four - five years we stand the chance of being one of the most competitive producers of crude product. I personally believe Buhari is a good person to oversee the building of such as it is less likely to be derailed for personal gains. For now there will always conflict of interest as the inefficient refineries supplying us are rumored to belong to people like IBB. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by fistonati(m): 2:29am On Jan 05, 2016 |
Firstly we look at d antecedents of d problem, d massive influx of private petrol stations which were mostly acquired tru corrupt practices and mostly politicians. Though d den major marketers are no longer major, I will ensure dt only coys like oando, Mobil, total, bovas etc will be supplied by d fed govt and leave d private ones out, by doing ds d independent marketers will hv to start sourcing for themselves and many of dem will be forced to sell off their outlets to d major ones and technically they will never be a threat to d govt anymore while dey will want to renegotiate with the govt they will be frozen out and govt will be able to control d market again instead of holding d nation to ransom. Any other mess afterwards, govt will be solely responsible. Thanks for your attention God bless Nigeria 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by TGM2015: 5:02am On Jan 05, 2016 |
I think the NLC should join hands with the govt to identify and shut down those greedy filling stations selling above approved price. The number of staff that the regulatory agencies have, are not adequate to effectively enforced it in all filling stations in Nigeria most especially those in rural areas and unpopular streets. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by disloman(m): 6:40am On Jan 05, 2016 |
TonyeBarcanista:None of the markets is allowed to import fuel into the country.That responsibility fall to PPPRA.All factors were considered before they arrived to that price.The only issue we have is only with the independent/local marketers.Those are supplied by NNPC from the refineries.I see this issue settled in the next 2 weeks.I will advise people not to buy from those who inflate their prices.Go to those who sell tat the approved pump price.I know it might be hard to take but we too have to sacrifice too. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by psucc(m): 6:41am On Jan 05, 2016 |
HtwoOw:You are actually deluded and had no idea on economic and trade relations. Worst still you are not current. Pls go back and make your research; FG had just last week okayed a sum of over N200b for payment as subsidy. Government was using the subsidy to control the market. And without functional refineries, and the cartel importers had already formed, government had no powers to fix price. Remember the Courts decision on Multi-Choice Vs a Lagos based Lawyer over the farmer's price increase on DSTV subscription charges? |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by disloman(m): 6:43am On Jan 05, 2016 |
psucc:Can you give us the links to your claim? |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by disloman(m): 6:45am On Jan 05, 2016 |
psucc:Do you know that the permit to import fuel had be suspended by the govt?The marketers are not importing fuel.Please do research. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by disloman(m): 6:47am On Jan 05, 2016 |
agabaI23:You are mouthed my brother.Pucc!This is for you. |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by omenka(m): 6:57am On Jan 05, 2016 |
modath:The guards themselves could have their palms greased to look the other way. Besides, it is nearly impossible to have guards posted at EVERY gas station across the country especially given the number of minor ones we have scattered across the rural areas. I don't think there is any easy way to ensure compliance, so I'd swing the other poster's way- market forces themselves remain the best regulators. When an atmosphere of competition is created, things would simply fall in line. 1 Like |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by agabaI23(m): 7:06am On Jan 05, 2016 |
disloman:I don't really know the meaning of being mouthed in this sentence. I think you're actually the one who boasted to me about direct delivery... |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by disloman(m): 7:22am On Jan 05, 2016 |
agabaI23:Lolzzzzzzzzz.No vex. |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by Philadelphia: 7:49am On Jan 05, 2016 |
TGM2015: You just spoke like someone who does not even understand the whole situation. The reason the price of petrol is sold for above 120 naira for a litter is because the product is bought around 110 naira per liter at the depot (that is if you even find it there), you have to bribe your way from the gate to even the bank where you pay for your product and other miscellaneous expenses to transport and discharge your products. Now tell me, if you own a filling station, can you even sell a liter of petro L for 100 naira after making all these expenses? Yet, you're being forced to sell at 86.50 naira. Who would absorb the loss?. What the government needs to do is to remove their hands from price regulation of petrol. They should just make it available at a cheaper rate at the depot and like many goods in the market, leave the sellers to sell between a particular range say between 85 - 90 naira but they product should be available at about 77 - 80 naira. If the market is competitive, who would want to still sell at 120 when others sell below that? It is only possible when the products are sold to these filling station owners get the products at a cheaper price. |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by DaBullIT(m): 3:38pm On Jan 06, 2016 |
You read my mind, but you can do better, gimme OT tsdarkside: |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by DaBullIT(m): 3:39pm On Jan 06, 2016 |
I am always disappointed in you Multichoice is a private business, subscribing to private sattelite access , Not NigComSat NNPC , if you know what it stands for is in charge of anything petroleum as far as Nigeria is concerned , NNPC comes before any private producers, no licence from NNPC means no business Try and apply sense some times psucc: |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by spinoff: 9:33am On Jan 10, 2016 |
TonyeBarcanista: |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by theV0ice: 10:33pm On Jan 10, 2016 |
DaBullIT: Just seeing this mention now. I believe now is the time for govt to hands off PMS. It looks drastic but there's no better time than now with the ridiculous price of crude in the market. This will encourage those having licenses for refineries to commence and expedite action on their projects. This initial period might be tough but in the long run, we'll be the better for it. If not for the price of dollar, i'm sure landing cost would be less than N70/Litre. The more players in the market, the better for the consumers. The GSM business is a prime example. |
Re: OPINION: Any Suggestions How To Ensure Petrol Sells For 86.50 ?? by agabaI23(m): 7:36am On Jan 11, 2016 |
theV0ice:2012 in my mind This is exactly thought. It would have been very brutal in 2012. Market forces would have taken control by now |
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