Yes

jpphilips:



The downstream sector does not operate that way, Like you inferred, there will be competition but it is not the way Nigerians expect, look at Diesel for example, it is deregulated but why is competition not driving down the price? Even when it is obvious the demand for AGO is pretty low, so how did a deregulated commodity in the Nigerian open market defy the laws of Economics? UNIONISM.

Like you implied above, anybody can import in a deregulated market fuelling competition, it is not exactly true, there are safety regulations that must be met before you are granted such licence, else Nigeria will be on fire in a matter of days, issue of storage, distribution capacity, inspection and integrity assessment are all considered, not forgetting "political patronage", in the end, only a few will meet the criteria, so its not gonna be an "all come oh! ye faithful" exercise.

As soon as they get their licence, they will join a union, Union will commence price fixing and that is where Nigerians will suffer. Now look at what Capital oil did recently, because he is a personal friend to Mr president who contributed immensely to his business success (TAN & AMCON scandal comes to mind), he decided to defy the union to salvage the image of the president, what most of you don't know is that Union has already decided to call off the strike this week ( I heard it on Thursday last week), so, it is inconsequential to the interest of the union.

The right question to ask is; why did he not release that product last week? what is the reach of Capital oil in Nigeria? he may cover Lagos or some part of Anambra at best, what happens to all the other states? that is where the Union is very powerful.

Another factor you need to consider is the international market, the price of crude fluctuates, when it appreciates, no amount of competition will annul that effect viz the price of its end product.

Import tax is another area you need to consider, well, you may assume it is an essential commodity hence should get a tax rebate, the sad truth is; once new importers join the queue (of course you want to drive competition), it will mount serious pressure on FOREX, the Govt will have no choice than to tax the products to recover. This import tax will sum up to the cost of the product for the end user.

Lastly, the strength of the naira, the Naira has been on a free fall for a while and it is going to impact heavily on the cost of the products ( I guess you are aware that Forex differential is part of our subsidy regimen), a sum of all these challenges will annul the possible effect of any competition.

So when some ignorant minds compare the downstream sector with Telecommunications, I just Laugh!!

Subsidy is the only govt control in the downstream sector and it is good for us, the problem I have with most Nigerians is that they don't really know how to define their interest, the Govt should worry about the subsidy not us.

If the union decide to sell at 100 naira for example, the major importers who are subsidy beneficiaries will sell at the government rate (I am not saying they are not union members though, just obliged) the union will not sell, it wont be long before they return to status quo, that is why they capitalize on frivolities to create artificial scarcity to make more money because subsidy is a big bone in their throat. They pray daily for the government to make the mistake of subsidy removal unlike what Jonathan told you in 2012 when he referred to them as "Cabals", no doubt, they are "cabals" but jonathan lied about their interest.The cabal want the subsidy out more than Nigerians want it out.

look at this recent strike, NPDC whose stake was illegally transferred has both NUPENG and PENGASSEN as members, while NUPENG (the junior staff union) went on strike, PENGASSEN (the senior staff union) in other companies was at work

Shell, Exxon, Total Nupeng members were all at work, while tanker drivers members went to strike on their behalf
That is an example of how senseless their strike can be sometimes.

It doesn't negate the fact that they have legitimate concerns sometimes, eg when the FG gave them import mandate and devalued the naira overnight without notice, bank interest rate on the product will increase and cost of purchase increased as well, who pays for the deficit? the FG is a chronic debtor when it comes to subsidy, some importers have backlogs to 2014, Iweala just pays in bits and pieces, till they strike before they will get at least half.

Nobody cares about Aquilla (transport subsidy) these days, the cabal will rather rent their trucks to other members who are not registered and collect their cash than waiting forever for the government to pay, that is the sad truth, Cabal hate subsidy, jonathan Lied big time.

For those of you who root for subsidy removal, you have no idea what these cabals are capable of!!, funny enough I am for subsidy removal but definitely not the 2012 madness

I will be right back certainly not today!

Your response is a course I have to print it out study it properly then get back to you later.

abduljabbar4:
God punish pdp and all their supporters. Even my family members that supported them

I limit this curse to you and your generation alone.

jpphilips:


picture these scenarios:

picture 1; otedola imports at 115per liter, FG promise to pay the deficit to sell at 87naira per liter, deficit owed by FG is 28naira citeris paribus. fG can owe as long as 2yrs before her majesty iweala decides to pay.

Scenario 2; Otedola imports for 115 and decides to sell 145 in cohort with other importers.

Where does Otedola make the highest profit? scenario 1 or 2?

Yea, correct. 2.

But do you not know that when we finally arrived at full deregulation even me will also be in that business. It will no longer be business as usual, monopoly will be gone for life.

bb. I meant to "without" bias.

Okay

The fear of Buhari's regime is the beginning of wisdom. Change chapter 2015:29th.

jpphilips:


The fun of being dumb, is that the victim hardly realize he is dumb, the people you mentioned otedola and co are praying daily for subsidy to be removed.

Jonathan reading your post will be like ''one of those goats i artificially programmed to believe my sh!t''

The sooner we begin to approach our economic challenges with an open mind of objectivity the better for is.

Sir please, can you with bias give me at least one reason why they will want subsidy removed.

Thank you

colossus2:
Make e go sidown jare. Why him no sell am since wen pipu dey suffer

How sure are you that he hasn't been selling alone since before probably he ran out of product.

Thank you Sir. Ifeanyi Uba(Capital Oil) for releasing 13milion litres of fuel yesterday, that forced Wale Tinubu (oando oil) and Femi Otedola(Forte/AP oil) to follow suit today. These cabals should please change.

I still remember Femi Otedola unpaid multiple bank loans
And also still remember his bribe scandal with SENATOR FAROUK LAWAN.

These are the cabals we are talking about, they are the same people working hard to see that subsidy remains.

In his words(Sir Ifeanyi Uba, "I will not be part of this sabotage against our Nigerian or fold my hands while Nigerians suffer because few people want high profits" (Fuel sales currently for N85 Per Litre In All Capital oil petrol station across Nigeria)

(L-R) Wale Tinubu, President Elect Buhari and Otedola

Segadem:
11the hour

He is still our president, please kindly deal with that.

Thank you sir.

echelons:
At least somebody is making a sacrifice.
If only Otedola and co will open up too.

Thank you Sir. Ifeanyi Uba(Capital Oil) for releasing 13milion litres of fuel yesterday, that forced Wale Tinubu (oando oil) and Femi Otedola(Forte/AP oil) to follow suit today. These cabals should please change.

I still remember Femi Otedola unpaid multiple bank loans
And also still remember his bribe scandal with SENATOR FAROUK LAWAN.

These are the cabals we are talking about, they are the same people working hard to see that subsidy remains.

In his words(Sir Ifeanyi Uba, "I will not be part of this sabotage against our Nigerian or fold my hands while Nigerians suffer because few people want high profits" (Fuel sales currently for N85 Per Litre In All Capital oil petrol station across Nigeria)

emiye:
but, that bayelsa, what does the governor do with all that money, a state with freaking 8 local govts, and smallest population, yet no tangible devtal. projects.??

Bayelsa state been rolling out greedy governors right from her day of inception how can she develop? Ibori started the same thievery in Delta but the current governor salvaged the situation.

I can understand the plight of river, Tinubu the wisest used it to [i]Sai Baba [/i]when Amarchi was still day dreaming of becoming the vice. Akwa ibom has it!

The major thing that pdp lacks is proper media management that's why so much allegations is being leveled against gej/govt. Most of my people are indeed gullible.

hansad:


It's getting to two months since the last presidential election when your type voted to tell Jonathan and his crew that they are not good.

For six years, Jonathan and his crew stopped the perennial fuel scarcity that plagued Nigerians, drove Nigerians's economy to overtake SAfrica's. But SW media convinced voters and rest of the world that Jonathan and crew are bad.

Jonathan and crew have skin like human beings, perhaps anger has make them withdraw because of not being appreciated by majority if Nigerians.

God bless you sir.

chupcake:
Pls where is that idiot that's always saying 'GEJ my hero'. If na IB you dey abeg make we meet for Mokola make I beat sense into your body. GEJ, aye o ni dah ooo.

Gej my hero !!

On the other news Buhari is talking about removing subsidy, those that gathered at ojota few years back should get ready again.

Now oil marketers are not so sure about what will happen after 29th that's why they have decided to amass wealth for themselves, you guys are here calling on GEJ that is currently occupied with his preparations to leave the hot seat. APC propaganda is everywhere, CHANGE!!!!

How much is fuel in your area? 350 naira @ NNPC depot

dridowu:
Youth set suspect’s family house ablaze
FROM GEORGE ONYEJIUWA,OWERRI

Tragedy struck yesterday at Ubomiri community in Mbait­oli Local Government Area of Imo State when a 20-year-old girl allegedly stabbed her under­graduate lover to death with a kitchen knife in their house.

The suspect, Chisom Anyanwu who is a student of Akwakuama Girls Secondary School, Owerri had allegedly killed his lover, who visited her following an argument.

The deceased, simply identified as Apo, aged 28, an undergraduate and a native of Egbeada also in Mbaitoli council area had paid an unscheduled visit to his girlfriend at their family house at about noon yesterday.

However, it was learnt that trouble started between the two lovers when the suspect who was cooking, did not take kindly to the deceased’s unscheduled visit to her family house. She asked him to leave immediately as she would not want her elder brothers and sisters to see him.

But the deceased allegedly refused to leave and in the altercation that ensued between the two lovers, Chisom allegedly grabbed the kitchen knife and stabbed Apo on the chest.

The deceased, who was said to be the only son of his parents, according to an eyewit­ness, was rushed to the Christian Medical Centre, Nworieubi in the area where he eventually died.

However, angry youths of Egbeada com­munity, on hearing of the death of their kins­man, stormed the family house of the suspect and allegedly set it ablaze.

The state police command’s spokesman, Mr. Andrew Enwerem (DSP), said the sus­pect is in their custody, while investigation on the matter has commenced.




http://sunnewsonline.com/new/?p=120628

The evil family alter has finally ended that generation. When a man lives canally, spiritual casualty will always be looming around. If you doubt me ask The Bible Samsom, he was sleeping on a woman's (prostitute/higher killer) lap when he should be fighting his peoples enemies.

Flashh:
If not for Etisalat that came to Nigeria rescue us from MTN and Glo, there won't be anything like MB and low call rates.

But i never make use of Etisalat though.

MTN should please stop those silly and useless messages.

If you want to experience change even before the much awaited 29 May, port to Etisalat. Since I did, na God Win!

I ported from Airtel to Etisalat since 3 months ago, till date I do celebrate that singular action on daily basis. I can now browse and make call seamlessly from even my toilet.

Realgana:
Baba should also merge Nairaland with Linda Ikeji's blog,they are serving the same purpose.He should also not forget to pair Seun and Linda as husband and wife.

E spikilekwe! Atuu (in Nkoli NWA nsukka's voice)

Useless

ziqqz:
Oh dear lord plzzz let EcoBank top the list.
In fact, let EcoBank be alone on the list!
Abeg!! EcoBank... Uselessly useless since uselessness was.

CountDracula:

Ehen... He shud b trekkin like ur father abi?

At the end of day Buhari will preside over all Nigerians so stop forming over familiarity, he doesn't know you. By virtue of position, if he eventually lead us well (which I believe he will) it will favour me alot. But I know you are among those that voted home simply because he promised to pay jobless folks 5k per month. Onye iberibe.

tobtap:

thanks mr taniod

Eh, what does that stand for? Such a fine word must be your baptismal name. Any Mpama.

CountDracula:
If na jona nau u go don see abt 10 jeeps and two helicopters and u wil see abt 20 aides al runnin up and down lookin for where his private jet wil park

it's because Jonathan is a president and Buhari is not. Why would he go on convoy in the first place. Only in Africa.

tobtap:
BETTER PRESIDO unlike shePOPO and the CLUELESS one convoy

must you include the b part of your sentence? I had to resist the temptation of cursing you because If I do, it must surely manifest. Please be civilize for once.

THIS IS MAXIMUM HATRED, GOD WICKEDNESS HAS OVERTAKEN THE WORLD YOU CREATED AND MOST OF THESE POSTERS CLAIMED TO BE GOOD MUSLIM AND CHRISTIANS. SOME HAVE BEEN OVERTAKEN BY TRIBALISM UNKNOWINGLY. How long will you continue to rub it on the faces of those that have already lost the election? For the sake of peace just chill we've won already stop hating,

dipopoo:
i think am d happiest man on earth today. Ambode defeated Jk I mean Yoruba defeated igbo I am so so happy. I think the whole worldnow knws that Lagos state belongs to yoruba. No one should take our hospitality for granted.

O Lord my Father, in this era of Ambode bless me abundantly n let me receive your favour. AMEN

Going thru all the comments here, you are the most tribal person on the list.

When did Igbos claimed to own Lagos, the cheap propaganda that APC used to control the damage made by Oba's statement(it worked anyway)I congratulate the brain behind it. But if actually Ndi Igbo ever said so, are you supposed to celebrate winning Igbos in Yoruba land? That's mediocrity.

Is Jimi Agbaje an igbo man, no I don't think so. So why all these hatred?

This is exactly what FFK did in PDP (the more you look the less you see) it's the other way.

Tydies:
Open office for there head.

How?

I have been on the process of porting out of airtel network for the past 4 days. And rather than releasing me Airtel have been calling to pacify me even when i have made it clear to them over time that where i have packed to doesn't have their signal.

Please am getting more frustrated, what should i do?

Fashola/Tinubu spent 38Billion for a 1.8 Kilometer bridge. Deal with it.

chat2deen:
SaTANoids, make una fear God! The cracked “Lado” short bridge was executed for a whooping sum of more than 10 billion naira, a much larger project of more than 2 kilometres bridge was executed by his excellency the governor of Kano state at the same amount or less.

fellis:
She tried. If it was me I would have stabbed his eye through the hole he was peeping from.

that is if truly the man peeped her.

Paulpaulpaul:
South-west really value electricity than others.

Light is only around Lagos. Stop lying the pix is still here.

1st South South
2nd South Easth
3rd South West (Lagos only)
4rth North (Boko Haram destroyed everything)

Therefore [s]South-west really value electricity than others.[/s]