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Nairaland Forum / Nairaland / General / Politics / Marketers Shutting Down Due To High Petrol Price —DAPPMAN (12265 Views)
DAPPMAN Petitions Tinubu Over Dangote Refinery’s ‘Monopolistic’ Tendencies / Nigerians To Bear Pains Of High Petrol Cost - Timipre Sylva / FG To Reduce Petrol Price To ₦130 From ₦145 (2) (3) (4)
Marketers Shutting Down Due To High Petrol Price —DAPPMAN by ijustdey: 1:16pm On May 20, 2019 |
Okechukwu Nnodim https://www.google.com/amp/s/punchng.com/marketers-shutting-down-due-to-high-petrol-price-dappman/amp/ |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Baba419(m): 1:20pm On May 20, 2019 |
Jubril, over to you. 3 Likes 1 Share |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by BlackfireX: 2:42pm On May 20, 2019 |
Where is the minister of petroleum Where is the president? Oopps I forget ,is the same person. Buhari will send liar Muhammad to look into it and reply you with the truth. 17 Likes 1 Share |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Runaway: 3:22pm On May 20, 2019 |
Who do I believe now, the marketers who many may think cannot make it again because they done get illegal subsidies again or the Government who said know subsidy yet pay same. 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by OzziOhinoyi(m): 3:22pm On May 20, 2019 |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by bamasite(m): 3:22pm On May 20, 2019 |
They want to start another story again 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by sirusX(m): 3:22pm On May 20, 2019 |
Wey my gallon? 1 Like
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Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:22pm On May 20, 2019 |
please NOOOOOOOOOOOOOOOOOOOOOOOOOO |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by GOFRONT(m): 3:23pm On May 20, 2019 |
This bet9ja guyz be striving so hard to lure a gullible...Posing with cash to take photos just to attract the interest of a gullible.. 4 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by skulgen: 3:23pm On May 20, 2019 |
Fill ur tank this night...else... |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:24pm On May 20, 2019 |
Why will a giant of Africa not have her own refinery? |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:30pm On May 20, 2019 |
comshots: Because...subsidy. Nigerians want to pay low prices for fuel. Government obliges them by subsidising fuel. The problem is, this does not let marketers make a profit...and scares away investors from building refineries, as well as financial instiutions from financing such projects...because zero return on investment. That's why we don't have enough refineries. Subsidy means that, for example, you produce one liter of fuel at N165. Government makes you sell it at N145, and only pays you the difference...leaving no profit, nothing for transport costs, etc. Removing subsidy and allowing marketers to charge whatever price they want , while leading to increase in prices in the short term, would attract investors who would build more refineries, and thus prices would crash long term. 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:36pm On May 20, 2019 |
Runaway: 1.The government is paying subsidy because if they don't, you would be paying N250-300 per liter for fuel. 2.In 2015, we were importing fuel at N132 per liter, while selling it at N87 per liter. At the same time, due to low oil revenues, we were not earning enough cash to fund subsidising fuel at N87. Government raised prices to N145....ending subsidy. 3.The problem was, government was still controlling the prices. So, when the cost of importing fuel went up to N180, government MADE NNPC pay underrecovery costs. The alternative...complete removal of subsidy by ending price controls...was too politically expensive. 4.As it is, marketers are losing money everytime they sell a liter of fuel. Meanwhile, foreign investors don't want o to invest in our downstream because....subsidy means that they won't make profits. Dangote refinery is not going to save matters because he ain't gonna sell fuel below N150 per liter. 5.Removing subsidy , while the wise decision, is not popular. |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by alphaNomega: 3:37pm On May 20, 2019 |
When they had the liberty to import petroleum products, it was abused and used to extort common Nigerians. Let them go out of business for all I care 2 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:41pm On May 20, 2019 |
tactius:The marketers are not even delivering the actual litres of petroleum that they are paid for through subsidy.Another thing is that they want to fix the price for themselves thereby making excess profits,not that they are not making profit as you claim.Are they being checked to make sure it is the actual amount of litres of fuel they supply that subsidy is paid for?The oil marketers are criminals. 4 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:42pm On May 20, 2019 |
Every single day, there is a reason to be scared in this country.. 2 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:43pm On May 20, 2019 |
“If those margins cannot cover my cost viz-a-viz landing cost of the product, that means it is not profitable. For instance, as of May 11, 2019, or around that time, the landing cost of PMS was over N200 per litre. Now you are telling me to bring in a product which sells above N200 and you want me to sell at N145.” Nigerians, here is the crux of the matter. Right now, NNPC is importing fuel at N200 and selling it to depots at N120... Depots are selling it to marketers at N133-134 per liter And marketers are selling at N145. Now, due to the persistent low oil price (oil has never been above $80 since 2014...and for Nigeria we need oil at $140 per barrel to have enough revenue to forget about loans, etc)...NNPC is finding it difficult to sustain the charade. So, since NNPC can no longer pay underecovery costs...subsidy....marketers and depot owners have to increase prices. We can abuse PDP and APC and the military if we like. I know that most Nigerians are POOR....But...we can no longer continue with this subsidy of a thing. Unless we want to take another loan. The thing is...Nigeria does not have enough money to sustain the subsidy. So, let's get ready for higher fuel prices. Hey...in poorer countries like Niger and Benin, fuel is above N300 per liter. Anyone reading this is free to abuse me and call me a neo-capitalist, and a Buharist and a GEJ ist, and a rich man supporter...but either we earn enough revenue to sustain subsidy....or we forget about it. For the health of our economy. 9 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:47pm On May 20, 2019 |
comshots: The reason why marketers tell lies about the fuel they sell...is because that's the only way they can make enough money to keep their heads above water. Because subsidy , in essence...forces them to sell without profit...they lie about liters sold...or they go under...and jobs get lost. Another thing....many of these marketers also earn some money via smuggling fuel to Benin and Niger...where it costs N290 and N370 per liter respectively. They earn a profit...and keep their heads above water into the bargain. See, Nigeria is treating a business ...the business of petroleum...as if it is a welfare organisation. It isn't . Businessmen go into business to make a profit. 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Coolcash1: 3:48pm On May 20, 2019 |
People just brace up for another increase in fuel price.... Welcome to next level... 2 Likes |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 3:48pm On May 20, 2019 |
tactius: 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by capitalzero: 3:49pm On May 20, 2019 |
They would not make profit. Why? 1. No subsidy claim 2. No fuel scarcity soon most petrol stations wil close shop and many would be acquired by major marketers. most owners of filling stations burrow money to buy from nnpc and they have to pay interest rates. era of mushroom petrol stations has gone. |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by coolfredo(m): 3:55pm On May 20, 2019 |
I remember some time last month one guy said am greedy when i said am not making no again in petrol station one even calculated my profit for me |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by JusticeSeeker: 3:59pm On May 20, 2019 |
These saboteurs are at it again. Something that has happened over a year without effect on buyers, now that we're getting used to it you're bringing it up, trying to form an alliance to frustrate the government. If you think you can't cope, quietly close shop and sit down. 1 Like |
Re: Marketers Shutting Down Due To High Petrol Price —DAPPMAN by Nobody: 4:00pm On May 20, 2019 |
alphaNomega: The reason why marketers engage in sharp practices is because 1.Subsidy forces them to sell at low prices. Imagine you are selling shirts, and you buy your shirts from a wholesaler at N1500 per shirt. You want to sell it at N2500 and earn a profit. But the government comes in, makes you sell your shirt at N1000 per shirt...and pays you N600 as subsidy. At the end of the day, you earn a profit of N100 . Not enough to pay for more shirts to sell, pay for staff. This has knock on effects... Mr wholesaler cannot earn enough, so he goes out of business...or he sells his shirts in countries where subsidy does not exist. For marketers, right now, they import fuel at N200 per liter, sell at N145. Either they engage in sharp practices like exporting to Niger and Benin and selling it there at N300 and above per liter...or they lie about what they import. |
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