When it comes to Dangote fuel,nnpc is bringing out a full breakdown of cost of purchase,but when they were importing,we did not see any breakdown.Something is fishy
How about the issue of quality if other marketers start importing? I think quality might be compromised in favor of cheaper prices by marketers who would want to attract more customers
There is nothing like deregulation in the PMs market stop confusing us Johnson chukwu we have the refinary working in Nigeria and the crude in Nigeria from October 1 the government will sell to dangote in naira buy in naira so the price will come down as at now the dangote refinary brought crude in dollars that why the price is 889 when the start transaction in naira the price will drop by 40% so we need to regulate that's dangote said the pricing template will come from the government the PMs is so sensitive no nation can alllow market forces to determine because the refinary is in Nigeria the crude is Nigeria so Johnson chukwu so called economy expert stop confusing us we know now this development has make us see everything that's why they don't want our refinary to work now we can see everything clearly that's why in Libya and Angola fuel is cheap everything is done in country all the value chain from crude sale to refinary is price locally they deal with price of gobal Market force based on when they want to export refine produce not on local so stop confusing us this man
Thank you very much @yomi, this man chukwu is confusing everybody how can exchange rate be affecting the extracted and refined product both locally that means something is fishing.
Dear Channels TV, It is true we are going through a cost of living crisis. I am not impressed by this economic review of your guess; he failed to fully consider various other variables in his analysis. 1. Food inflation should and is never dependent on only what is being produce in the northern region of the country; there's nothing stopping the production of food in the Southern part of the country! We have a lot of people who are unemployed in the southern part of the country; they should go and farm. State governments in this area should drive it (won't we eat without the northern part of the country?). 2. He failed to mention the so called basic necessities that we stopped importing (what are the basic necessities in life.....have they changed?). People should stop consuming "what and what" doesn't fall into basic necessity list in an inflationary period. The solution is to start producing those items we like to consume. 3. NNPCL should go and operate its refineries! People should stop harassing Dangote for whatever price he intends to sell its products. A manufacturer should sell base on cost of production, and not affordability of the consumer (unless you are accusing Dangote of trying to make abnormal profit). 4. He failed to recognize and highlight the various opportunities arising from the various problems we are facing! We have so many unemployed people in the country; he could suggest immediate establishment of various agro-processing factories.....etc. We are not helping ourselves, if we only (wrongly) see doom in our situation; an Economist should always highlight positives or suggests appropriate solutions during a review.
This is not deregulation. Has NNPC allowed other marketers to be free to import fuel? Why does NNPC have to announce a price in a deregulated market? Why did Dangote disagree with NNPC on the purchase price and why should NNPC be the sole off taker?
If they sell dangote fuel to Nigerians, then tell me how does it benefit Nigerias citizens , a good president will be out a price regulations on the petrol and any filling stations that goes against it will be sanctioned or closed, this is what the government should do if they really wanna help the innocent citizens of Nigeria
Now government can subsidize for Nigerians at the pump via NNPCL filling stations nationwide, Nigeria owns largest stake in NNPCL, Nigerians should gain from it, translate this into affordable fuel price for Nigerians. Affordable energy is critical to grow a nation and economy
The Nigeria government gets its crude Oil for free, beside extraction cost. Why can't the same government set aside crude oil with discounted prices to domestic refineries, then the refineries in return sell to the Nigeria market at an affordable rate to the public. This is not difficult to understand. These are the practices of most Oil producing countries. This type of subsidy is a more accountable subsidy than the fraudulent subsidy that was previously practiced. This also will save the Nigerian government foreign exchange transactions.
So till now some of us still don't know the real value of our currency is between 600 to 750 we have to fix the problem with our currency constant depreciation
TO UR HONEST PLEASE SAVE D COMM😢CITIZENS AT TIS CRUCIAL MOMENTS BRINGS ALL TIS HIGH RATE TO MAKE D COUNTRY BETTER NO CHALLENGE PLEASE DO SOMETHING GOOD
Your economist doesnt understand free market economy. The price shouldnt be eetermined by govt or its agencies. In free market, there is large number of of buyers and sellers and non of whom dictate the price, there is freen entrance and exit of participants in and out of the market, sellers can source the product from anywhere in the world. Tell me in what way this market situation created by NNPCL/Dangote/FGN/IPMAN resenbles deregulated market?. Tell me
![[Extended] How Special FX Rate For Local Refiners Will Crash Petrol Prices - Festus Osifo](http://i.ytimg.com/vi/DUFXP3V9k7M/mqdefault.jpg)
When it comes to Dangote fuel,nnpc is bringing out a full breakdown of cost of purchase,but when they were importing,we did not see any breakdown.Something is fishy
How about the issue of quality if other marketers start importing? I think quality might be compromised in favor of cheaper prices by marketers who would want to attract more customers
There is nothing like deregulation in the PMs market stop confusing us Johnson chukwu we have the refinary working in Nigeria and the crude in Nigeria from October 1 the government will sell to dangote in naira buy in naira so the price will come down as at now the dangote refinary brought crude in dollars that why the price is 889 when the start transaction in naira the price will drop by 40% so we need to regulate that's dangote said the pricing template will come from the government the PMs is so sensitive no nation can alllow market forces to determine because the refinary is in Nigeria the crude is Nigeria so Johnson chukwu so called economy expert stop confusing us we know now this development has make us see everything that's why they don't want our refinary to work now we can see everything clearly that's why in Libya and Angola fuel is cheap everything is done in country all the value chain from crude sale to refinary is price locally they deal with price of gobal Market force based on when they want to export refine produce not on local so stop confusing us this man
Thank you very much @yomi, this man chukwu is confusing everybody how can exchange rate be affecting the extracted and refined product both locally that means something is fishing.
Excellent show Channel News!
foolish nnpcl . from being a producer to now a retailer. they should be ashamed of themselves.
@stephensun...,
it's from being and not been.
@@jeffaris2012 thank you.
STOP Importing fuel
Dear Channels TV,
It is true we are going through a cost of living crisis.
I am not impressed by this economic review of your guess; he failed to fully consider various other variables in his analysis.
1. Food inflation should and is never dependent on only what is being produce in the northern region of the country; there's nothing stopping the production of food in the Southern part of the country! We have a lot of people who are unemployed in the southern part of the country; they should go and farm. State governments in this area should drive it (won't we eat without the northern part of the country?).
2. He failed to mention the so called basic necessities that we stopped importing (what are the basic necessities in life.....have they changed?). People should stop consuming "what and what" doesn't fall into basic necessity list in an inflationary period. The solution is to start producing those items we like to consume.
3. NNPCL should go and operate its refineries!
People should stop harassing Dangote for whatever price he intends to sell its products.
A manufacturer should sell base on cost of production, and not affordability of the consumer (unless you are accusing Dangote of trying to make abnormal profit).
4. He failed to recognize and highlight the various opportunities arising from the various problems we are facing! We have so many unemployed people in the country; he could suggest immediate establishment of various agro-processing factories.....etc.
We are not helping ourselves, if we only (wrongly) see doom in our situation; an Economist should always highlight positives or suggests appropriate solutions during a review.
This is not deregulation. Has NNPC allowed other marketers to be free to import fuel? Why does NNPC have to announce a price in a deregulated market? Why did Dangote disagree with NNPC on the purchase price and why should NNPC be the sole off taker?
IT IS TIME TO RE DENOMINATE THE NAIRA TO STABILIZE AND MAKE IT PETRO-NAIRA
If they sell dangote fuel to Nigerians, then tell me how does it benefit Nigerias citizens , a good president will be out a price regulations on the petrol and any filling stations that goes against it will be sanctioned or closed, this is what the government should do if they really wanna help the innocent citizens of Nigeria
Now government can subsidize for Nigerians at the pump via NNPCL filling stations nationwide, Nigeria owns largest stake in NNPCL, Nigerians should gain from it, translate this into affordable fuel price for Nigerians. Affordable energy is critical to grow a nation and economy
The Nigeria government gets its crude Oil for free, beside extraction cost. Why can't the same government set aside crude oil with discounted prices to domestic refineries, then the refineries in return sell to the Nigeria market at an affordable rate to the public. This is not difficult to understand. These are the practices of most Oil producing countries. This type of subsidy is a more accountable subsidy than the fraudulent subsidy that was previously practiced. This also will save the Nigerian government foreign exchange transactions.
It’s Nigeria we should have moved away from all this drama decades ago
So till now some of us still don't know the real value of our currency is between 600 to 750 we have to fix the problem with our currency constant depreciation
You guys are only talking about numbers. What about enforcing standards on the quality of PMS we get into the country!
TO UR HONEST PLEASE SAVE D COMM😢CITIZENS AT TIS CRUCIAL MOMENTS BRINGS ALL TIS HIGH RATE TO MAKE D COUNTRY BETTER
NO CHALLENGE
PLEASE DO SOMETHING GOOD
Your economist doesnt understand free market economy. The price shouldnt be eetermined by govt or its agencies.
In free market, there is large number of of buyers and sellers and non of whom dictate the price, there is freen entrance and exit of participants in and out of the market, sellers can source the product from anywhere in the world.
Tell me in what way this market situation created by NNPCL/Dangote/FGN/IPMAN resenbles deregulated market?.
Tell me