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Nairaland Forum / Nairaland / General / Politics / Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays (29171 Views)
Let ‘Responsible Citizens’ Carry Guns – Ortom Begs FG / Fuel Scarcity Looms As FG, Oil Marketers Disagree On Pricing / Oil Marketers To Shut Down ALL Loading Operations By Midnight (2) (3) (4)
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Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Freeman59: 11:49pm On Jan 03, 2018 |
omenkaLives: Tribalism will get this country nowhere. Every post is misread and turned into a tribal issue. Seriously anytime I see your posts and the likes, I feel for Nigeria. We're still far from happiness and unity. Seriously how is the igbo related to this post? Even we are not united, that's why our leaders exploit our disunity. One thing I know, after coming here to hate, you still have your own share of Nigeria's current economic realities to face. On new year day, people coming from church were killed for no reason. It's all hate bro. We're just killing ourselves for nothing. Hating ourselves even when there's nothing to gain. You must be proud of yourself after posting that. But you should ask yourself how you've been able to contribute positively to your environment... |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by GavelSlam: 11:53pm On Jan 03, 2018 |
grandstar: Same way it remains stable everywhere else in the world. It's a game of demand and supply. Once the importers see a margin they would import. Dangote in not wanting to lose his market would be forced to keep his prices low. |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Bizibi(m): 12:57am On Jan 04, 2018 |
omenkaLives:wonderful!!! |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by wristbangle: 1:08am On Jan 04, 2018 |
You see! I keep telling people the major cause of this fuel scarcity is these useless greedy marketers. Its always good to weigh both options before passing out judgement yet some pained people would still blame FG for this. Shiooorr! 2 Likes |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by uba1991: 1:45am On Jan 04, 2018 |
SalamRushdie:since u don't av brain pls call ur neighbor to explain d write-up for u. 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Justiceleague1: 2:52am On Jan 04, 2018 |
LionDeLeo: those importers are big ugly VULTURE,they just wanna feast on the masses ![]() 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by seguno2: 3:56am On Jan 04, 2018 |
Firefire: Who is the Petroleum minister again sef? |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by seguno2: 3:57am On Jan 04, 2018 |
Justiceleague1: Maybe they are inspired by Buhari and his budget padding rogues in the NASS ![]() |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Nobody: 4:02am On Jan 04, 2018 |
GavelSlam: I've always known this marketers to be profiteers, but still the government is not blameless, for one, who sells the fuel NNPC imports? Doesn't it bother you, what is the rationale behind NNPC importing fuel and now having private marketers selling it? |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Nobody: 5:08am On Jan 04, 2018 |
LionDeLeo: It is sheer greed. And that is what is ruining this country. Everybody wants to make 1000% profit overnight. 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by casig: 5:22am On Jan 04, 2018 |
OritaIbadan:God bless you. |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Coldfeets: 5:32am On Jan 04, 2018 |
omenkaLives: Correct man! Keep on hitting them hard with the truth. It always hits them where it hurts. That's why they are attacking you back with their hate filled venoms. Unfortunately for them, their venoms remain totally powerless and inconsequential in the face of truth and reality. Sai Baba is on the job of getting this country work. It is such a disheartening thought for so many personae non gratae in this country hence their senseless wailing. ![]() 4 Likes 3 Shares |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Nobody: 5:33am On Jan 04, 2018 |
Late for the party. 1.Tax breaks...might be a good idea, and it ideally...would achieve two goals..keep prices low, and attract investment. The downside is reduction in government revenue, which isn't good especially with the cold fact that revenues from crude oil are not enough for us to maintain a balanced budget. 2.Deregulation still remains the answer for a variety of reasons . We don't have enough money to keep prices low...even with tax breaks. . PMS retails outside Nigeria for much higher prices than here..so a marketer can simply just buy fuel at cheap prices here from NNPC, and then take it accross the border to Niger, or Cameroon, and sell for a higher profit. . Price controls makes it difficult for marketers to make a profit, and by extension employ extra staff, pay improved salaries, etc. . The oil sector needs investors....and investors won't come if their profit motive is being shackled. |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Nobody: 5:40am On Jan 04, 2018 |
LionDeLeo: THE problem isn't difficulty of importing. Any marketer can import. The problem is, if they import fuel at N171 per liter, NNPC would promptly force them to sell that fuel at N144-5 per liter..meaning they sell at a massive loss under that scenairo. Even under the current regimen, NNPC is importing fuel at N171, subsiding it for sale to marketers at N145...and then forcing marketers to sell at N145? (In other words....at zero profits) Frankly, such an arrangement is not sustainable long term(NNPC is already subtly groaning). And marketers are business people...they have to make a profit to be able to pay staff, hire new ones, buy stuff for the wives and mistresses, etc... |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by deenee: 6:09am On Jan 04, 2018 |
cyberguy72: First and foremost I didn't abuse anybody whilst trying to pass my message across and I would expect that you don't do same to me or any other person for that matter. It's very simple.....and I will say again...if the fuel importers feel they are not making profit from their importation, they should close shop and look for another business to do. It is not by force to be a fuel importer. The same scenario played out with cement until Dangote started manufacturing cement in Nigeria. We tried subsidy and we know how it ended up being used for fraud. Even up till now the Govt of the day is still redeeming sovereign debt notes from subsidy claims in the past and you say govt should start subsidizing again? Hell No! Now they are asking for tax holidays....from my very little understanding of business economics tax holidays only make sense for investors looking to inflow long term FDI for critical development, to encourage SMES and for CSR reasons. I say again if this option is considered...it will still be abused and more most of these marketers and importers save for the big 5 (Oando, Forte, Nipco,MRS and Mobil) only prepare management accounts and already even evade tax so granting them tax holidays will only create room for them to legalize this. This is akin to how our Igbo brothers in the east will travel to China to ask their Chinese manufacturers to reduce the quantity and quality of components used in manufacturing items for import so they can make more margins. Every body is just rent seeking and we at the same time want the country and govt of the day to succeed. God bless Nigeria. 5 Likes 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Benez: 6:25am On Jan 04, 2018 |
SalamRushdie: Pls always think b4 you talk. Is it not the marketeers that are desperately pursuing fuel price increase agenda while FG is saying no. I wonder your deep hatred for your President instead of praying for him. 3 Likes 2 Shares |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by SalamRushdie: 6:29am On Jan 04, 2018 |
Benez: This should help you think well . https://www.nairaland.com/4268807/fg-grants-fuel-marketers-special#63876193 |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by drololaaof: 6:42am On Jan 04, 2018 |
We are our problem, the independent marketers had been making live difficult for Nigerians that why they clamour for downstream upstream now see the hardship they put on us God dey oh. 1 Like 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by ihatesycophant(m): 6:47am On Jan 04, 2018 |
grandstar:You're a poor mathematician. They say with the landing cost it total about 171. Instead of you to ask them how much was the actual landing cost, you came here showcasing your poor mathematics. No wonder you had to write WAEC severally. The landing and internal transport cost is inclusive in 171. No need of you importing another one. You may not even know the meaning of the landing cost. Is the cost of refining a litre of oil from abroad till it gets to Nigeria's well. Hence, if the refining is to be done in Nigeria, the landing cost would not be there again. With this your idea, you will not be good in quantitative reasoning and simple comprehension. 1 Like 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Praktikals(m): 7:24am On Jan 04, 2018 |
GavelSlam:They are suffering from delayed maturity. 1 Like 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by gGGODDd(m): 7:25am On Jan 04, 2018 |
grandstar:Nigerians will pay higher 4 a commodity they have in abundance. May the GODS of Nigeria strike u abd scatter ur evil wicked greedy life. idiot, thief |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Meritocracy: 7:55am On Jan 04, 2018 |
The marketers changed their plans and started begging when they realise subsidy fraud is no more business as usual in Buhari regime unlike before when FG will be begging them. 2 Likes 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Okoroawusa: 8:19am On Jan 04, 2018 |
ckmayoca:don't blame omenkaLives,these IPOB boys can get on someone's nerves sometimes omenka take it easy 3 Likes 2 Shares |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by trillville(m): 8:39am On Jan 04, 2018 |
omenkaLives: What is the difference between a tax holiday and paying subsidy? Is one option more susceptible to corruption or is one option cheaper for government to finance? 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by otokx(m): 8:43am On Jan 04, 2018 |
The truth will set us free, 145 has long expired but the government is doing a cover up. |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by grandstar(m): 8:52am On Jan 04, 2018 |
ihatesycophant: I had five distinctions in my GCE and repeated the same feat in WAEC. Had A1 in Economics, Geography and Government. Even had A3 in both maths and English. 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by back2sender: 8:55am On Jan 04, 2018 |
kstyle2: You want the refineries to work and throw some people who benefits from bad state of the refineries out of Business. It's sabotage! President Buhari made a big difference in making the refinery work even producing then all of sudden there was a dip in performance. When govt goes after this saboteurs who doea not want anything to work in Nigeria we will all shout it's witch hunting. BABA has started the process of Nigeria been great again. Let's join hands and SUPPORT him. 2 Likes 1 Share |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by omenkaLives(m): 9:21am On Jan 04, 2018 |
trillville:As a matter of fact, giving them tax holiday is better IMO. Tax holiday means the government isn't paying claims into one's account as is normally the case. You show your bill of laden, the government works out how much import duty you are to pay and then reduce that duty by a certain percentage agreed upon by both parties. If the businesses owned by the importers are the subject under consideration and not the products being imported, those businesses are given certain tax cuts that would be the equivalent of the subsidy that would have been paid their owners upon importation of petroleum products. An interesting example of this mechanism is the agreement between Dangote and the FG on some roads in Lagos and Kogi states. He builds the roads in exchange for tax cuts which would amount to the tax he would have paid the government were he not the one constructing the roads. In addition, I feel by this way, corruption in subsidy administration would be reduced to some extent. Uhuru would mean a total abolition of the subsidy regime. 3 Likes |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by tigerclaws: 9:52am On Jan 04, 2018 |
[s] omenkaLives:[/s] trash trash trash |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by Neoteny(m): 10:07am On Jan 04, 2018 |
LionDeLeo: You obviously read it upside down. Because the landing cost is high, they plead for tax breaks to make more money and subsume the landing costs. This is basic arithmetic. |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by LionDeLeo: 11:02am On Jan 04, 2018 |
Neoteny:How does my comment say otherwise? ![]() 1 Like |
Re: Fuel Price: Oil Marketers Backpedal, Begs FG For Tax Holidays by whatofyou: 11:06am On Jan 04, 2018 |
These guys are still talking. How can we be a crude oil producer and not strive to refine this resources in our country? Nothing will be steady until we know how to place the cart and the horse. |
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