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Nairaland Forum / Nairaland / General / Politics / Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days (19164 Views)
Fuel Price Hike: Oil Marketers Rake In Over N21.8bn Daily / Fuel Crisis Looms As Private Depot Owners Raise Prices — IPMAN / Lagos, Rivers, Akwa Ibom Lead In N4.19tn Subnational Domestic Debts (2) (3) (4)
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Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by samtee37(m): 2:13pm On Sep 05, 2020 |
Make I go service my bicycle
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Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Whothecapfits: 2:14pm On Sep 05, 2020 |
Buharia |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by hibeebeeking: 2:15pm On Sep 05, 2020 |
Where we deh work , na there we deh chop. Things will turn around well for every hustlers. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:16pm On Sep 05, 2020 |
When GOVERNMENT is done with Nigeria... Nobody go do Yahoo again...Na daylight robbery go day trend. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Donedeal1(m): 2:16pm On Sep 05, 2020 |
Likewise whenever they want to do a reduction the same people will be waiting for order in other to exhaust their old whatever. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by GreaterFuture1(m): 2:17pm On Sep 05, 2020 |
Officialgarri:This Brazen arrogant Ignorance tho, why not just keep quiet 1 Like |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:17pm On Sep 05, 2020 |
Officialgarri: If your darling heroes Buhari and tinubu had supported GEJs subsidy removal in 2012 we won't be in this problem. 2 Likes |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Tinax(f): 2:17pm On Sep 05, 2020 |
It’s only this subsidy we benefit from Our government..... ![]() |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:17pm On Sep 05, 2020 |
Johnnoo:People are selling at different prices if I don’t like the price at Oando, I could try Mobil, & Vice versa, if you like hoard it and sell it for 180 Naira, people will go to the cheaper petrol station. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by kelviborji32: 2:18pm On Sep 05, 2020 |
Nigeria jargar-jargar everything scatter scatter, poor man dey suffer suffer kpoza kpoza |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:19pm On Sep 05, 2020 |
kikero:No need crying over spilt milkshake, better late than never, yet people are still against it, 8 years after? |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:21pm On Sep 05, 2020 |
favor914: Even then, Bubu is still controlling prices. For me to know if he is serious about removing subsidy, he has to stop paying underrecovery, privatise NNPC, allow marketers to control the price of petrol instead of PPRA and give more incentives to local refineries. Then we can say he is finally ready to properly run our country's economy 1 Like |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by hybridblood07(m): 2:23pm On Sep 05, 2020 |
How sir? ABBkelvin: |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Beverlyjean(f): 2:24pm On Sep 05, 2020 |
Nigerians can never b honest when given the opportunity to cheat their fellow person... let them decrease the price and it will take them 2 weeks to adjust |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:24pm On Sep 05, 2020 |
BeeBeeOoh:Bro you wan catch spirit? |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:26pm On Sep 05, 2020 |
Those saying "people will go to the cheaper petrol station" yada yada yada. CHEAPER is relative. N250 can be the cheapest, doesn't' mean it is AFFORDABLE. Especially for the average Nigerian already struggling with inflation, no job, no security. The govt should have put in place a number of key things before moving to this phase. 1 Like 1 Share |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:27pm On Sep 05, 2020 |
morikee: Well, a large chunk of that profit will end up in salaries, new facilities, taxes and maintenance costs Probably less than one third will enter Mr and Ms Owners pockets |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:27pm On Sep 05, 2020 |
kikero:Do you have plans to invest in that sector? You better hurry up and delve in, NNPC doesn’t control the market anymore, PPRA regulating the market, market forces determining the consumer price, the refineries don’t work so NNPC has no advantage, they are importers also, they have been stripped from the back without the petroleum institute bill been passed, next the Federal Government will sell the Refineries to anyone but Dangote & Abdulrahman Rabiu, so we can have healthy competition in that sector. 1 Like 1 Share |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:29pm On Sep 05, 2020 |
tot: So you think it is good economic practice if we sell fuel below the production costs? Forget politics, we can't sustain subsides. Your hero GEJ was right about that, which is why he raised fuel from 65 to 140...and which is why Bubu and tinubu were wrong to oppose him then |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Agbegbaorogboye: 2:30pm On Sep 05, 2020 |
Kikero, I thought removal of subsidy was supposed to make prices competitive and drive down prices in the long run. What is this I'm reading? ![]() 1 Like |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Ezmans: 2:32pm On Sep 05, 2020 |
Kabir5643:the Afonja pastor that lead them to ojota park against subsidy removal under gej is now quiet, one of them called on city fm Lagos yesterday & beg for forgiveness by saying that it was one of his greatest mistake in his life 3 Likes |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:32pm On Sep 05, 2020 |
favor914:and i can bet you, that will not happen. The runnings of this 9ja doesnt follow logic or book theories. Look at electricity, heck look at rice. Remember how everyone was talking about how we'll all be better for it with bountiful local rice substitutes. How much is local rice today? Now there are bountiful local rice substitutes, some of which are more expensive than thai, and many of which are just averagely 1.5k cheaper. 4 Likes 1 Share |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:33pm On Sep 05, 2020 |
Agbegbaorogboye: Is this the long run? ![]() Plus this is not removal of subsides, this is what they have been doing since the 1970s. Partial removal of subsidy to a price where the government can pay for it. Until Government stops controlling prices, and allows marketers to set the price, this isn't the real deal. If you like, you can refuse to believe me, as usual. Good afternoon |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:34pm On Sep 05, 2020 |
kikero:Coward Jonathan they tricked the clueless one, like you said he made the right decision initially, but chickened out from civil opposition, nobody should just waste their time trying to protest, no going back on the decision. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:37pm On Sep 05, 2020 |
favor914: An opposition which was raised by your heroes, who left us with a problem we are now dealing with at a time when we dont have the money. Stop backing these politicians. They will use your anger to get into power. 1 Like |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:38pm On Sep 05, 2020 |
kikero: Mr sitting on the fence, where in my comment is GEJ mentioned? Please continue your comments speaking with both sides of the mouth and leave my comments in peace. Those who have a clear stand, I can engage in conversation with. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by favor914: 2:39pm On Sep 05, 2020 |
kikero:These is not what they have been doing since the 70’s subsidy has been finally removed, Government is not paying any money for anyone anymore for petroleum products, it has worked perfectly well for diesel, pms has now been added, gas should follow suit in the nearest future. |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:41pm On Sep 05, 2020 |
tot: Because I attacked your hero, I am a fence sitter.? Well, you're right. I can't vote or support either APC or PDP. And my question still stands. Since you oppose increases in fuel prices, does that mean you support fuel being sold below its production cost? FYI, I backed subsidy removal in 2012. Just because I can't stand either party does not mean I can't applaud a good economic policy when I see it? 2 Likes 1 Share |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by tot(f): 2:42pm On Sep 05, 2020 |
[s] kikero:[/s] |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by Nobody: 2:43pm On Sep 05, 2020 |
favor914: Like I said, until your hero removes ppra and stops underrecovery ànd allows the guy who owns the filling station on my street to sell fuel at the price he wants, before we can say subsidy is gone |
Re: Fuel Price Hike: Depot Owners, Marketers Rake In N4.2bn Extra Profit In 3 Days by ABBkelvin(m): 2:43pm On Sep 05, 2020 |
hybridblood07:They let in all bullshit thrown at them from the power that be most especially from the government, that's the behavior of low value people affected with Stockholm syndrome. Most Nigerians individual problem has no known solution for now. 1 Like |
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