omenkaLives:
I thought some people said the crises was a plot by Buhari to prevent them from going to visit their relatives in their useless villages..

Smh.

This country would be alot better if we can do away with those elements, Boko Haram and killer herdsmen honestly. There's no difference between the three.

grandstar:


How will it lead to a stable price regime?

The price of crude oil keeps going up and down. How then will the price of petrol be stable?

omenkaLives:
I thought some people said the crises was a plot by Buhari to prevent them from going to visit their relatives in their useless villages..

Smh.

This country would be alot better if we can do away with those elements, Boko Haram and killer herdsmen honestly. There's no difference between the three.

SalamRushdie:
This is just proof that the marketers are doing everything possible to make sure there is fuel but Buhari remain the dull stumbling block ..This is further proof the dullard is 100 percent responsible for the fuel scarcity

LionDeLeo:
Desperately searching for means to maximise profit.

Thought they earlier said the landing cost is not sustainable at the approved pump price.

The problem is now tax.

Rubbish, if you can't import, blady drop your import licence for the numerous willing marketers.

Firefire:
Useless administration of fraudulent ediots...
Shame on the Petroleum Minister...

Justiceleague1:

those importers are big ugly VULTURE,they just wanna feast on the masses

GavelSlam:
Those that are quick to slate the government the floor is yours.

LionDeLeo:
Desperately searching for means to maximise profit.

Thought they earlier said the landing cost is not sustainable at the approved pump price.

The problem is now tax.

Rubbish, if you can't import, blady drop your import licence for the numerous willing marketers.

OritaIbadan:

People like you, ngeneukwuenu, Kanu and other tribalistiic bigot are the reason this country can never move forward. How can you call a whole village useless, the same reason I dislike Kanu method of agitation he went about calling Yorubas cowards making all form of reckless utterance. Omenka people are dieying in Benue state and your god Buhari is doing nothing about it and you are here making fool of yourself are you not ashamed are you happy about the situation of this country. God will judge you and other heartless elements in this nation

omenkaLives:
K.

LionDeLeo:
Desperately searching for means to maximize profit.

Thought they earlier said the landing cost is not sustainable at the approved pump price.

The problem is now tax.

Rubbish, if you can't import, gladly drop your import license for the numerous willing marketers.

cyberguy72:
My friend landing cost is N171.W hats the need doing a biz when don't make profit?U wud just sit down and by typing rubbish.FG just need to subsidize for these guys to resume importation.If not let d downstream be deregulated.QED

SalamRushdie:
This is just proof that the marketers are doing everything possible to make sure there is fuel but Buhari remain the dull stumbling block ..This is further proof the dullard is 100 percent responsible for the fuel scarcity

Benez:


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.

grandstar:
This is an unreasonable request by the marketers.

They had probably noticed Buhari's refusal to accept the reality of deregulation and capitulated to keeping the price at it's unrealistic low level.

For Pete's sake, the landing price is N171/litre at the port. how tthen can it be sold at N146 at the pump.

I know some will say if it is locally refined, that will solve the problem.

Question is- Will NNPC dash them the crude oil to refine??

Obviously not!!!

Dangote said refining it locally will save about 23 naira per litre.

So, let's minus 23 from 171. That still gives us 148 wholesale price from the refinery. Yet the pump price is 146. We have not factored in transport cost from Lagos state to other parts of the country and profit margins have not been included.

Government should simply deregulate the price. Yes, Nigerians will pay higher but supply will be guaranteed like diesel and now kerosene after government deregulated the price.

I don't see how Dangote will cope with a subsidy regime. I suspect he will lots of money to any presidential candidate that will free the price from its' present senseless stranglehold

GavelSlam:
Those that are quick to slate the government the floor is yours.

grandstar:
This is an unreasonable request by the marketers.

They had probably noticed Buhari's refusal to accept the reality of deregulation and capitulated to keeping the price at it's unrealistic low level.

For Pete's sake, the landing price is N171/litre at the port. how tthen can it be sold at N146 at the pump.

I know some will say if it is locally refined, that will solve the problem.

Question is- Will NNPC dash them the crude oil to refine??

Obviously not!!!

Dangote said refining it locally will save about 23 naira per litre.

So, let's minus 23 from 171. That still gives us 148 wholesale price from the refinery. Yet the pump price is 146. We have not factored in transport cost from Lagos state to other parts of the country and profit margins have not been included.

Government should simply deregulate the price. Yes, Nigerians will pay higher but supply will be guaranteed like diesel and now kerosene after government deregulated the price.

I don't see how Dangote will cope with a subsidy regime. I suspect he will lots of money to any presidential candidate that will free the price from its' present senseless stranglehold

ckmayoca:

I thought you are a father? you don't talk like a responsible one.

omenkaLives:
A holiday is a time of rest, break or less work. Tax holiday is therefore a period of "tax rest", "tax break" or "less tax".

I explained that in the simplest terms.

Giving them such holiday simply means the expenses they incure upon importing the products would be less, therefore even if they sell at lower or regulated prices, they'd still make reasonable profits.

ihatesycophant:

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.

kstyle2:
Na wa. I still don't understand why a nation with abundant oil gets to import it. They say our refineries are not producing at optimal level. Then i ask, what will it take to make these refineries produce at an optimal level? Do we need to purchace state of the art equipment, do we need to retrain workers, do we need to contract it to expatriates who are better equipped in hanfling such dire matters. What ever may be the case, let us do something right for once. We know our problems, we know how to solve these problems but we have vehemently refused to do so due to greed of certain individuals

trillville:


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?

omenkaLives:
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.

LionDeLeo:
Desperately searching for means to maximise profit.

Thought they earlier said the landing cost is not sustainable at the approved pump price.

The problem is now tax.

Rubbish, if you can't import, blady drop your import licence for the numerous willing marketers.

Neoteny:


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.