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We Can No Longer Import, Sell Fuel At N145/litre — Marketers - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / We Can No Longer Import, Sell Fuel At N145/litre — Marketers (26538 Views)

Kano IPMAN Directs Members To Sell Fuel At ₦150 Per Litre / Why We Can’t Sell Petrol At 125/litre – Marketers / Fuel Stations Sell Fuel In Daura, Jibiya Border Towns Despite Ban (2) (3) (4)

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Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by muller101(m): 9:05am On Dec 24, 2017
You export raw materials and purchase finished goods from the same material you exported on a higher rate is that not 5tupidity?

3 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Boss13: 9:14am On Dec 24, 2017
Nigeria is a country that consistently refused to learn from its past mistakes and problems. Nigeria problems are not new, they are recurrent problems. Many of these problems have left the recurrent process to become permanent problems.

6 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by GavelSlam: 9:15am On Dec 24, 2017
tempest01:
Our refineries should be working...

Why is Nigeria like this?

The only thing that works is what brings money to the center to be shared.

The refineries cannot work for as long as it is a government parastatal...Nigerians and corruption are like 2 peas in a pod.

We need the private refineries desperately but even Dangote's refinery is slow in taking shape.

2 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by GavelSlam: 9:18am On Dec 24, 2017
muller101:
You export raw materials and purchase finished goods from the same material you exported on a higher rate is that not 5tupidity?

It is but there is no short term solution.

We need privately owned refineries but I can bet you, even when they come, they would continue to burden the common man every now and then.

The Nigerian is a man that needs a change of personality.

2 Likes 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Hayah: 9:22am On Dec 24, 2017
ivandragon:
if at $59 pb, the landing cost of fuel is N145-N170, imagine the nightmares GEJ was going through when crude was between $80-$90 pb to keep fuel at N97-N87 & still maintain an exchange rate of N150-N180 - $1 for over 3 years...


pmb's major albatross is his previous utterances - the lies & deceit...


it is now very obvious that GEJ was actually spending between $15b-$20b yearly on subsidy.

Well said bro. . .


But won't the $15B-$20B be enough to build a refinery?

2 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by grandstar(m): 9:25am On Dec 24, 2017
princeade86:
until we standp and fight for ourselves,b4 we can be free frm dis heartless people. When we all stop tribalism,and religions. EnoughisEnough

Stand up and do what? Did you not read the article?

The solution is to full liberalise the prIce. That will mean the price of petrol will be determined by market forces and government will end the fixing of the price by fiat and end all subsidies.

Since the landing price of petrol at the port is now 154naira using the 305/$1 rate, the price of selling petrol will have to go up to reflect market realities.

Are you ready for that? The truth is bitter.

1 Like 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by fortunejum: 9:28am On Dec 24, 2017
Why should it be now when the demand is high?
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by LadiIshola(m): 9:31am On Dec 24, 2017
matrix199:
The UN should close down this country. It has failed woefully.


We're like a mermaid dying of thirst in her kingdom. How can we be an oil producing nation and still be an oil deficient nation? That's a paradox.


Here's how daft the immediate and the past leaderships of this country are...

They sell a barrel of crude oil(159litres of 6 constituent oil) @ $59/N17,000 per barrel)

They later buy a barrel of 1st constituent of the crude, which is PMS, (1 barrel @ $55) + a barrel of 2nd constituent of the crude, which is kerosene, (1 barrel @ $57) + a barrel of 3rd constituent of the crude, which is diesel, (1 barrel at $70), then sum up all they spend importing what they exported @ $59, that would give $182.

They earn $59 per barrel exporting crude oil. They spend $182 importing a barrel of petrol, a barrel of kerosene, and a barrel of diesel.


A mermaid sells her fresh fish at N100. She later buys it back as fried fish at N200.

Isn't she a daft mermaid?
Good analyses though but what you failed to put into consideration is the fact that a barrel of crude oil cannot give you a barrel each of PMS, kerosene and Diesel Cos you will still get other distillates from that same one barrel. You have paraffin there, wax and the likes. So they are not entirely daft as you have portrayed them to be.

5 Likes 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Johnrake69: 9:31am On Dec 24, 2017
HtwoOw:



I wonder if you people's brains always leave you when you comment, Buhari ran a successful government for 2 years plus but nothing you people won't complain about


FYI there's been no subsidy for over a year and fuel was supplied at govt approved price , do not confuse greed with anything else


Other than allow these PDP fuckkkkers to hold Nigeria to hostage, it's better to merge marketers into 5 or more, anybody who can't cope with imports should be eliminated from the formula, Banks were merged and we got better service, I totally oppose paying subsidy because that'll be going back to the vomit we all complained about


Did you listen to yourself? As if GEJ didn't propose we remove the subsidy buh politics was more important than the economy so we occupied Ojota. The billions of dollars saved from subsidy where is it? The last time I checked we are still borrowing $billion of dollars to fund the budget.

And by the way, where are the modular refineries they promised?
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by jacoik(m): 9:33am On Dec 24, 2017
matrix199:
The UN should close down this country. It has failed woefully.


We're like a mermaid dying of thirst in her kingdom. How can we be an oil producing nation and still be an oil deficient nation? That's a paradox.


Here's how daft the immediate and the past leaderships of this country are...

They sell a barrel of crude oil(159litres of 6 constituent oil) @ $59/N17,000 per barrel)

They later buy a barrel of 1st constituent of the crude, which is PMS, (1 barrel @ $55) + a barrel of 2nd constituent of the crude, which is kerosene, (1 barrel @ $57) + a barrel of 3rd constituent of the crude, which is diesel, (1 barrel at $70), then sum up all they spend importing what they exported @ $59, that would give $182.

They earn $59 per barrel exporting crude oil. They spend $182 importing a barrel of petrol, a barrel of kerosene, and a barrel of diesel.


A mermaid sells her fresh fish at N100. She later buys it back as fried fish at N200.

Isn't she a daft mermaid?
you put it in right perspective. God bless you
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by ivandragon: 9:34am On Dec 24, 2017
Hayah:


Well said bro. . .


But won't the $15B-$20B be enough to build a refinery?


the 'philosophy' or policy of PDP on the matter has to be taken into account...


aside from Yar'Adua who reversed the sale process of refineries, PDP's policy was aimed at allowing private investors operate refineries, hence its push for total deregulation of the up & down streams of the industry.


it was a clear policy direction & as such, they cannot be wholly blamed for not building refineries.


pmb has no policy direction on the matter which is why despite the astronomical increase a year ago, the industry is still in a state of flux...

3 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by eejo(m): 9:36am On Dec 24, 2017
ivandragon:
if at $59 pb, the landing cost of fuel is N145-N170, imagine the nightmares GEJ was going through when crude was between $80-$90 pb to keep fuel at N97-N87 & still maintain an exchange rate of N150-N180 - $1 for over 3 years...


pmb's major albatross is his previous utterances - the lies & deceit...


it is now very obvious that GEJ was actually spending between $15b-$20b yearly on subsidy.
my brother you made my day merry xmass
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by habsydiamond(m): 9:36am On Dec 24, 2017
How can Nigeria be so dumb...we have refineries simply because of the money our leaders are making from importation they abandoned those refineries, export our crude oil to other countries and buy back our product in petrol and diesel, kerosene and others...who are we helping Ourselves or the other countries....

1 Like 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by UncleJudax(m): 9:47am On Dec 24, 2017
gocac:
This would be the death sentence of Buhari's 2019 ambition.
Should there be 1naira hike in fuel pump price,
Then it is over and out for the APC led government.

Because, even the APC members themselves will cry like a baby, at the filling station.
For me i will not cry, because i have always know that this government is useless to me and my likes.
You dont say! Increment will come, and Buhari is also likely to win. Why do you think the Country IS so Backward? There are Millions of Useless people in Nigeria. They only see Tribe and Religion.

2 Likes

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by ajl: 9:48am On Dec 24, 2017
What baffle me is that many Nigerians are not as bright as average Nigerians claim. It's clear that the marketers are making attempt to hit a final "jackpot" before the magic year of 2019 when they are destined to go out of business as a result of coming on board of Dangote Refinery.

It's the 11th hour for them and they will do anything to make a kill.

1 Like 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by ajl: 9:51am On Dec 24, 2017
habsydiamond:
How can Nigeria be so dumb...we have refineries simply because of the money our leaders are making from importation they abandoned those refineries, export our crude oil to other countries and buy back our product in petrol and diesel, kerosene and others...who are we helping Ourselves or the other countries....

I have never seen people so stupid and self-destructive.

1 Like

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by KanuJEWSarePIGS: 9:52am On Dec 24, 2017
Oya!

The "awa bLothers" Animals should start the tribal card play.

It's taking too long.

When we allow the elites to further devide us along tribal and religion lines, this is what we get.

By the time wey dem finish with una, hands no go gree una carry type nonsense again.

1 Like

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by chloride6: 9:53am On Dec 24, 2017
Hallelujah grin
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by kross01(m): 9:53am On Dec 24, 2017
Hayah:


Well said bro. . .


But won't the $15B-$20B be enough to build a refinery?

If the demons that politicised subsidy removal had allowed that move, we will by now not only have newer refineries but also a lot of privately owned ones (including modular) too but you see, no private biz will want to operate in such environment when you are subsidizing/regulating the price.

1 Like

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by UncleJudax(m): 9:58am On Dec 24, 2017
StankovicEgeni:
I just can't explain what is wrong with the civil society groups , the labor unions and activists . What stops us from rehabilitating at least one of our refineries ? why do we derive pleasure in punishing ourselves ? from the dust we came , to it we'd return .
People are making Money from the Situation.
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by ajl: 9:59am On Dec 24, 2017
LadiIshola:

Good analyses though but what you failed to put into consideration is the fact that a barrel of crude oil cannot give you a barrel each of PMS, kerosene and Diesel Cos you will still get other distillates from that same one barrel. You have bitumen from it which occupies much of the crude too, paraffin is there, wax and the likes. So they are not entirely daft as you have portrayed them to be.

Point of correction. Bitumen are not derived from your normal every day crude oil but from oil sands which are unconventional heavy oil that already has its lighter fraction degraded or removed in situ by microbes. And these are not refined in convention refineries.

The largest oil sands reserve are in Canada and Venezuela. Nigeria also has some heavy oil deposits but not sure if these are exploited.

In summary, one can't get bitumen from the kind of oil that Nigeria produce. These are high end light fractions.

1 Like

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Apina(m): 10:03am On Dec 24, 2017
HtwoOw:


Please don't be stupid, how much was lost to subsidy scam compared to the benefits Nigerians got? Upon all the subsidy there was still scarcity and queues and they even pushed for more


Subsidy was abused and should never be allowed again, period
It was people like u who came out protesting when the previous government, held a symposium where every Nigerian was respected and allowed to air their views on the subsidy removal but kept shut when Buhari did same. The outcome presently is even Worse than we have ever had it and u are here appraising the nonsense. undecided

2 Likes 1 Share

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Robbin7(m): 10:03am On Dec 24, 2017
What is this one saying? If you can sell like that abeg leave the business no come make life harder for people.
Yeye people
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by tuzle(m): 10:05am On Dec 24, 2017
God, why is it during this scarcity that our transformer decided that it is time to spoil
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by ajl: 10:06am On Dec 24, 2017
kross01:


If the demons that politicised subsidy removal had allowed that move, we will by now not only have newer refineries but also a lot of privately owned ones (including modular) too but you see, no private biz will want to operate in such environment when you are subsidizing/regulating the price.

Then why did Dangote venture into building a refinery. Where are the others that were issued licenses. Truth is most Nigeria businessmen are rent seekers. Reason why the country import toothpicks and pencil.

1 Like

Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by gbagyiza: 10:13am On Dec 24, 2017
princeade86:
until we stand up and fight for ourselves,b4 we can be free frm dis heartless people. When we all stop tribalism,and religions. EnoughisEnough

Bro, it might be difficult because they have already divided d people. My take on this news is that, were d marketers not aware when exchange rate shot up. Why d fuel was not scarce that time. Why now during December,
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by habsydiamond(m): 10:14am On Dec 24, 2017
ajl:


I have never seen people so stupid and self-destructive.
that's our leaders for u.....they only care about themselves..... presently, it's only the masses that are suffering from this fuel scarcity....whereas they are all enjoying with full tanks everywhere they go....
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by jaxxy(m): 10:18am On Dec 24, 2017
matrix199:
The UN should close down this country. It has failed woefully.


We're like a mermaid dying of thirst in her kingdom. How can we be an oil producing nation and still be an oil deficient nation? That's a paradox.


Here's how daft the immediate and the past leaderships of this country are...

They sell a barrel of crude oil(159litres of 6 constituent oil) @ $59/N17,000 per barrel)

They later buy a barrel of 1st constituent of the crude, which is PMS, (1 barrel @ $55) + a barrel of 2nd constituent of the crude, which is kerosene, (1 barrel @ $57) + a barrel of 3rd constituent of the crude, which is diesel, (1 barrel at $70), then sum up all they spend importing what they exported @ $59, that would give $182.

They earn $59 per barrel exporting crude oil. They spend $182 importing a barrel of petrol, a barrel of kerosene, and a barrel of diesel.


A mermaid sells her fresh fish at N100. She later buys it back as fried fish at N200.

Isn't she a daft mermaid?

This looks like very bad business bt We have basically no refineries thats d issues so we have no choice to sell crude and import back. Bt i think the quantity we export is way more than the refined product we import so im thinking there is sm good marginal profit to the govt in this situation bt now we can't import enough for our demands cos of forex issues.
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Bimpe29: 10:24am On Dec 24, 2017
Do we have to contract governance in Nigeria out? Must we be colonized again to get things right? Our leaders have been consistently failing since I was born. What needs to be done to have a better and prosperous Nigeria?
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by udemzyudex(m): 10:25am On Dec 24, 2017
And you all choose December to show your wickedness right? I believe in karma.
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Fourwinds: 10:27am On Dec 24, 2017
it will never be well with all these oil marketers...

they have been looking for ways to increase this fuel price for long...
Re: We Can No Longer Import, Sell Fuel At N145/litre — Marketers by Bimpe29: 10:32am On Dec 24, 2017
Do we have contract governance in Nigeria out? Must we be colonized again to get things right? Our leaders have been consistently failing since I was born. What needs to be done to have a better and prosperous Nigeria?

1 Like

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