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.

Price can still be regulated even without sibsidy. In canada there is no subsidy. But govt set maximum and minimum price monthly.

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!!

In PortHarcourt some major marketers like Total are selling at 86.5 naira with small queues.

tuale4u:


Price can still be regulated even without sibsidy. In canada there is no subsidy. But govt set maximum and minimum price monthly.

Unfortunately, the sector has been "deregulated" ie no more regulation. The government can at best suggest on what should be the minimum and maximum price, but the marketers will still determine the price. I don't think Canada import refined PMS like Nigeria. I don't think their economic environment is as terrible and harsh like Nigeria. There are many factors that plays here. So if I, an importer A brings product from abroad and transport it to Kano. I pay haulage, security and others in addition to the increasing value of the dollar over the naira. I don't think the government that contributed no dime to my expense can dictate to me how I should sell my product. However, if I become too greedy, I'll only send signal to competitors and prospective competitors that they should kick me out of the market. In other words, the market will regulate the price.



Just like in a typical open market.

In my opinion, there's really only one way around this. Unbundling NNPC and making its retail arm a competitor. So for places like Lagos, Abuja, Port Harcourt and other major cities, we have an NNPC station selling to the public at the government approved price.

In a place like Nigeria, the only way to check cooperate greediness is to have a government owned(not necessarily government run) company to compete with this private companies.



This is actually a long term thing though.

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...

Nicely advised , no free information again

agabaI23:
2012 in my mind

This is exactly thought. It would have been very brutal in 2012. Market forces would have taken control by now

You no dey forget something?

But really the price of crude now makes it easier and more tolerable than it would have been in 2012.

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.

You are wrong again.

Please study broadly on each topic before misinforming your readers.

In Nigeria we have what we call Petroleum Equalization (harmonization) fund and there is an agency established by law in charge of this business in Nigeria hence the Government still control prices and also works to make sure that price of the commodity is even across Nigeria irrespective of distance from depot or point of purchase by Independent marketers.

This fund serves as logistics subsidy different from what is known as fuel subsidy (landing cost to selling price differentials).

For more information check www.pefmb.gov.ng/

LadyExcellency:


You are wrong again.

Please study broadly on each topic before misinforming your readers.

In Nigeria we have what we call Petroleum Equalization (harmonization) fund and there is an agency established by law in charge of this business in Nigeria hence the Government still control prices and also works to make sure that price of the commodity is even across Nigeria irrespective of distance from depot or point of purchase by Independent marketers.

This fund serves as logistics subsidy different from what is known as fuel subsidy (landing cost to selling price differentials).

For more information check www.pefmb.gov.ng/

Even at that, the government can't determine price. Marketers still pay for security, power and other sundry expenses including personnel cost and maintenance. Does the government also pay for these services? The best the government can do is to give estimate on the cost, but it can't force marketers to adopt it. The market will take care of that.


It is a free market...

theV0ice:


You no dey forget something?

But really the price of crude now makes it easier and more tolerable than it would have been in 2012.

My brother, it is difficult to develop selective amnesia when you don't have dementia in your lineage

agabaI23:
My brother, it is difficult to develop selective amnesia when you don't have dementia in your lineage

Selective amnesia in the Nigerian context isn't a medical condition....its a political technique used whenever a situation demands it.

And we all use it at one time or another.....that's being candid my friend

However, as it is now, crude oil price has made any notion of subsidy payment totally unnecessary. At a landing cost less than N80/ltr even with high dollar price, market forces will/should determine pump price.

agabaI23:
2012 in my mind

This is exactly thought. It would have been very brutal in 2012. Market forces would have taken control by now

Don't mind them...
Lost are they who forget the past in pride and retrace it all over again in sentiment

theV0ice:


Selective amnesia in the Nigerian context isn't a medical condition....its a political technique used whenever a situation demands it.

And we all use it at one time or another.....that's being candid my friend

However, as it is now, crude oil price has made any notion of subsidy payment totally unnecessary. At a landing cost less than N80/ltr even with high dollar price, market forces will/should determine pump price.

Always replying with some reasonable logic which sometimes apply to APC alone Lol. OK naa but I try my best not to use that technique

agabaI23:
Always replying with some reasonable logic which sometimes apply to APC alone Lol. OK naa but I try my best not to use that technique

Yeah we all try not to but then how else would you know we're simply human?

Make it available.

Thank you all for your contributions


You all made valid points even though some strayed off topic, my conclusion is that it can be done, it can be achieved , we all know that majority of our petrol stations are run by greedy_mindless managers and owners whose sole purpose is to make profit at the peril of the citizens.


The government has announced that fuel should be sold at 86.5 even at that price, dealers have made profit , I believe this because the breakdown as released on first January clearly indicates the analysis ( sorry I don't have the link on phone) which included price at Depot, cost of moving etc


To achieve this price stability and check the 3 tiers of government should work together


FG passes ultimatum to STATE and state in turn passes the power to enforce to the local government


Local government is closest to the masses and as such in better position to resolve this if empowered


In my opinion, a mass recruitment of Patriots who are graduates throughly vetted and trained should be the first step

They'll be subdivided into

IA (internal affairs /informants) to check others from accepting bribe

IT ( computer and technology savy) they'll analyse files and evidence)

FO (field officers) They'll go from places to places gathering information)

AO (Accounting officers) Be in charge of accounting for fines received

Secondly in the employment contract it'll be stated that salaries and wages will be based on commission ( from fines received from disobeying petrol stations) I trust Nigerian graduates they will work like kilode




Thirdly the easiest part, unleash these graduates into the society and ask them to bring proof in video , I said it's the easiest because almost everybody has a camera phone , gathering evidence in video files won't cost local government a dime


Fourthly Evidence is gathered by FO, AI and it's submitted to IT for analysis and sorting


Evidence gathered will be submitted to state for further processing, fine is determined and authorized by a court with Jurisdiction , and amount in fine submitted back to Local Govt


Local Govt notifies petrol station managers of fine in writing signed and sealed by the court or state Governor


Petrol station pays up

If not


Case is directed to FG, FG notifies NNPC,

if petrol station is duly registered, license is suspended for a period of time until fine is paid


If not legally registered and does not have license, owner is forced to license legally and forced to pay fine

If not petrol station is siezed, sealed or taken over


All fines paid is calculated and AO pays graduates and moderators , if state is lucky, there's excess for local government, which must be used judiciously

END of contract between graduates and government


Graduates are happy will probably invest the salaries, I predict it'll be huge payday

Price is normal other petrol stations automatically adjust prices

Citizens are happy that the price is finally the approved pump price ( cost of transport, cost of food items, housing costs, clothes even tension that's gone up automatically drops)


Happy citizens = happy government = Better Nigeria

TonyeBarcanista, HtwoOw, psucc, Gaborone, Simplymeah, ScotsReferendum, tsdarkside, Sibrah, fistonati, TGM2015, disloman, omenka, Philadelphia, spinoff, theV0ice, tuale4u, AZeD1, princemillla, LadyExcellency, BushidoBlue, Abagworo,

agabaI23 you no try everything na money?