bettercreature:
Yes they are hoarding it thinking there would be an increase or scarcity

There would have to be an increase except the govt is planning to make up for the differnce which is another subsidy .

Festive periodz around the corner. Normal norm

IamEmem:


Ogbeni u still blaming GEJ and PDP abi, sey u no dey tire for the blame game?
Somebody said once he gets in fuel will sell for #40 NGN and queue will be a thing of the past, after 2 1/2 years we are in no better position and u r here blabbing thrash.

READ my comment again.

Wicked people, na during end year festival u wanna start ur jagajaga..and they know people must travel to home either long or short distance...they shouldn't let us have gorvernment self cuz their useful is useless here...am fed of this rubbish jare

9jakohai:


Seriously, what is your solution.

My solution is simple, we should have removed fuel subsidy long time ago, and completely deregulated the downstream sector, so that investment would have flowed in and made things better. Prices would have gone down now

I'm pretty someone removed the subsidy, only for one group of people to rile up public sentiment.

Or did I imagine that?

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

You must have been sleeping throughout GEJ's tenure to say that there were no fuel queues in the five years.

Anambra and Enugu get fuel na...

NNPC has enough reserve in its Depots according to a reliable source.

grandstar:



Does it sound pragmatic to you to sell present stock at the current price only to see that the price as increased when you go back to restock?
Who will make up for the deficit when you remember that profits of retailers are thin in the first place.

They are not a charity

Well, it may not sound practical as you have suggested.

However, you should know that so many factors are considered in making pricing decisions. In this situation, there is no technical analysis or explanation that suggests a possible price increase in the future.

Plus, if there'd be an increase in the cost of restocking incurred by the marketers, it would only be from the NNPC and the agency has ruled out a possibility of this, not even in the nearest future. Recall that even at the peak of the FX crisis last year, a special window was opened by the CBN to enable these marketers access the required FX at a price much lower than the prevailing market price. It was all in a bid to entirely eliminate any excuse of an increase in pump price or unavailability of petrol.

The only negation of the above is when a loaded marketer sells it's product or ATP (Authority to Pay) to another marketer (who is not ready to exercise the patience of queing up to load at the depot or is not even scheduled to load at all), and NNPC often advises against this as it causes diversion and other issues in most cases.

Hence, given the price at which NNPC sells to marketers, to resell at a margin to customers, they will always make profit. That said, there is no "deficit" at all as your comment suggests. It is a classic case of exploitation.

Lol...the profits of petrol retailers are far from thin. Infact, it is arguably the fattest. And this is what I KNOW as an industry participant, not hearsays. You can also see YouTube for Sanusi's argument on the subsidy debate on how other massive unhealthy profits were made by these marketers.

They are never doing us a favour! As Adams Smith posited, "It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest."

So many politics in the said industry...

Same thing here in Ikorodu

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

You must be a cursed liar or someone with very short memory

Smartademu:

I was just being sarcastic. Very soon Lai, Garba or Femi will come out with the usual 'blame it on GEJ' statement.

so u mean no be GEJ fault?

oh! this fuel scarcity have started again

grandstar:



Does it sound pragmatic to you to sell present stock at the current price only to see that the price as increased when you go back to restock?
Who will make up for the deficit when you remember that profits of retailers are thin in the first place.

They are not a charity

But these marketers bought the current stock at the old (current) ex-depot price (before story of any price hike). I wonder the justification to now sell it at the hiked price.

They will just profit out of the already helpless Nigerians and use their money to shore up business capital.

This doesn't make any sense at all.

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

bros...lying is not good. if you won hate, hate cos of fact not emotions

They hv every reason to increase fuel price now as a result of increase in crude oil price. since govt is not subsidizing we should pay more, but the question is why were we paying more when oil price was down. It means we were all paying petrol tax but most of u didn't, know. Dis govt hen.

enonche85:


When fuel price was increased from #97 to #145 price per barrel was less dan $45. Now price per barrel was $64 per barrel 2wks back and $58 as at today. So they have no reason for the increment.

Same here in Benin city, filling stations are not selling

Baba can increase the price to 250 for all we care. How many more months before 2019 comes and Aisha return to the streets, frying akara balls.
The average Nigerian is more politically smarter and conscious than ever before.

Omooba77:
Almost all the filling stations around Lekki are not selling fuel. There are queues at all the stations along Awolowo road Ikoyi now.
Please what is happening?

do they sell fire wood too?

Nevee:

Well, it may not sound practical as you have suggested.

However, you should know that so many factors are considered in making pricing decision. In this situation, there is no technical analysis or explanation that suggests a possible price increase in the future.

Plus, if there'd be an increase in the cost of restocking incurred by the marketers, it would only be from the NNPC and the agency has ruled out a possibility of this, not even in the nearest future. Recall that even at the peak of the FX crisis last year, a special window was opened by the CBN to enable these marketers access the required FX at a price much lower than the prevailing market price. It was all in a bid to entirely eliminate any excuse of an increase in pump price or unavailability of petrol.

The only negation of the above is when a loaded marketer sells it's product or ATP (Authority to Pay) to another marketer (who is not ready to exercise the patience of queing up to load at the depot or is not even scheduled to load at all), and NNPC often advises against this as it causes diversion and other issues in most cases.

Hence, given the price at which NNPC sells to marketers, to resell at a margin to customers, they will always make profit. That said, there is no "deficit" at all as your comment suggests. It is a classic case of exploitation.

Lol...the profits of petrol retailers are far from thin. Infact, it is arguably the fattest. And this is what I KNOW as an industry participant, not hearsays. You can also see YouTube for Sanusi's argument on the subsidy debate on how other massive unhealthy profits were made by these marketers.

They are never doing us a favour! As Adams Smith posited, "It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest."

So many politics in the said industry...

You don't sound like one who's a participant. Indeed their profits is very very tiny as most depends on turn over to make ends meet . As at today, the depots sell to marketers at 145 minus others miscellaneous expenses. That explains why most filling stations are not selling because they can't buy at that rate and still sell at 145. Forget about what inform NNPC is dishing out to the public, of course you don't expect them to say otherwise.

Nevee:
Well, since it isn't just Lekki, there could be so many explanations for that.

The most likeley is as a result of recent speculations of an increase in pump price. When this happens, holders of such inventory (fuel, in this case) would stop selling now in order to sell at a higher price in the future, invariably, when such speculative price increase comes to pass. Note that these marketers purchased the fuel from the depots at the normal price. So it's not an issue of cost driving up prices. It is just to make abnormal profit, arguably driven by greed.[s][/s]

When this happens, it creates an artificial scarcity of petrol, thereby forcing consumers to buy more than they currently need (i.e. panic buying).

Another[b] possible reason is shortage of supply to depots (where the marketers load) in Lagos and it's environs by the satellite depot , not ruling out the possibility of the satellite depot not being supplied from the atlas. (Basically, the flow is Atlas to Satellite depot to other various depots).[/b]

NB: The satellite depot for south west is in Sagamu, Ogun state.

A lot shaa, let me avoid too much jargon.

Bro pls don't say what u dont know. Fuel is scarce at the depot and very expensive. As at today they sell 143 even at the so called NNPC depot. Imagine buying at the rate from the depot? When u add other expenses to it transport and other logistics its very impossible to sell at 145. If care is not take bfor Friday there would be huge scarcity

sekeyso:


You don't sound like one who's a participant. Indeed their profits is very very tiny as most depends on turn over to make ends meet . As at today, the depots sell to marketers at 145 minus others miscellaneous expenses. That explains why most filling stations are not selling because they can't buy at that rate and still sell at 145. Forget about what inform NNPC is dishing out to the public, of course you don't expect them to say otherwise.

God bless u for speaking out the truth . I guess I into the business ? There is more to oil and gas than what the fed govt feed u people with

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

Lmao...Lie responsibly please.

9jakohai:


So, we should take another loan just to subsidize fuel?

Oil is selling for 60 $ less than it did in 2014. We don't have the money to pay for subsidy.

We? You and who? So you're comfortable with continual hardship of Nigerian people? When have oil prices gone up and return for less ? #145 per litre is already high and why must it happen during Christmas just to frustrate the same generation immune with suffering and marginalization. Enough of these tricks that have doomed this unprogressive country.

Keneking:
Where is that NNPC thread sef...

APC is useless

APC is useless.

tblackE61:



Bro pls don't say what u dont know. Fuel is scarce at the depot and very expensive. As at today they sell 143 even at the so called NNPC depot. Imagine buying at the rate from the depot? When u add other expenses to it transport and other logistics its very impossible to sell at 145. If care is not take bfor Friday there would be huge scarcity

Lol...Brother, it is not far from the second reason I gave above that the depots might be short of supply.

I don't know what rates depots sold today and if your claims that the official rate at the depot is 145 is true, then that is very worrisome!!!
Last I heard was a friend transferring his tickets from Ejigbo to Warri for loading since Lagos was not forthcoming.

Anyway, fuel scarcity is not unusual in Nigeria.

sekeyso:


You don't sound like one who's a participant. Indeed their profits is very very tiny as most depends on turn over to make ends meet . As at today, the depots sell to marketers at 145 minus others miscellaneous expenses. That explains why most filling stations are not selling because they can't buy at that rate and still sell at 145. Forget about what inform NNPC is dishing out to the public, of course you don't expect them to say otherwise.

Lol...no condition is permanent. When PPMC was selling to them at #80 and they were reselling to consumers at #150, there was no uproar. The marketers are used to making huge profits from exploitation which they are finding hard to maintain.

No matter the situation, they will NEVER run at a loss. They'd rather push us to a situation of scarcity where the burden finally rests on the consumers.

This is not in defense of NNPC at all. Their own is another problem in it's entirety.

Sanusi, during his tenure as the CBN governor, gave a detailed analysis of how these marketers exploited both the government and the people. Please see the attcahed link for the video. I'd love to hear your opinion on it. I'm willing to learn.


https://www.youtube.com/watch?v=t7QDjzTTrag

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

Truth be told. Some groups are sabotaging for personal gains.

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

Even Satan fear this your lie

luvinhubby:


Which perennial problem?
5yrs of GEJ witnessed no fuel queues despite selling fuel at ₦97

Nigerians last started experiencing fuel queues September 2015 till around March 2016 when Buhari increased pump price of fuel to ₦145 & we are still experiencing fuel queues with it.

The communications companies and media houses that shut down by 7 pm were Buhari's fault too ABI.

https://www.nairaland.com/2334541/fuel-crisis-cripples-nigeria
00

Nice... so I will look forward to lining up for 10+ hours at NNPC again this year? Or spend 5 hours at gas station, occasionally fighting with other people to get fuel while one oga will come and fill his tank and his jerrycans?
If I'm lucky I will avoid adulterated fuel.

Oil producer indeed. I swear if government was in charge of making air we would have all suffocated to death. Even water they can't provide regularly. Shame

Im sure it has sthng to do with the clearing of trucks in apapa. Depot shortages/hoarding. One of these union groups will then go on strike and screw us over.