TonyeBarcanista:
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.

psucc:
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.

DaBullIT:
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

HtwoOw:
You are saying you respect how Buhari successfully and Maturely removed Subsidy without causing any panic or protests ?

HtwoOw:
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

TonyeBarcanista:
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.

HtwoOw:
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:
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?

psucc:
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.

agabaI23:
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...

modath:


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!!

disloman:
You are mouthed my brother.Pucc!This is for you.

agabaI23:
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...

TGM2015:
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.

tsdarkside:


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....

psucc:
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?

TonyeBarcanista:

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.

DaBullIT:
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

theV0ice:


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.