Reason Why Petrol May Sell Below N87/Litre Soon - NNPC

Date: 20-12-2015 6:18 am (8 years ago) | Author: Mister Jay Wonder
- at 20-12-2015 06:18 AM (8 years ago)
(m)

The pump price of petrol might fall below the official N87/litre soon, the NNPC has announced.

The state oil company said it is working out a template with the Petroleum Product Pricing Regulatory Agency (PPPRA), which might make the commodity sell for less thant N87 per litre next year.

Group General Manager, Corporate Planning and Strategy, of NNPC, Bello Rabiu, said the cost of bringing one litre of petrol to the country currently was N65.

The logistics for bringing it to the depot and to the filling stations, he said, is about N10.55. The distribution cost is N15.49 while the open market as at today is N91.52/litre.

“Now, if you take away N87, which is regulated price, it means that subsidy is basically N4.85. If we are consuming 41 million litres, it means we are subsidizing N200 million a day.”

“If we can look at this one that is N91.52 and we pray we can get about N15 off there, that will bring it down to a little more or less than N80. If we take off N10.50, we come down to N81. If we take it down to N7.52, we come down to N85.

“So you can see that the price we have today, if we look at the template can come down, and many Nigerians will believe that there is no subsidy.”

For more scintillating and juicy stories, follow the official Naijapals accounts On Twitter - https://twitter.com/Naijapals and Facebook - www.facebook.com/naijapals

Posted: at 20-12-2015 06:18 AM (8 years ago) | Addicted Hero
- XTnote at 20-12-2015 07:13 AM (8 years ago)
(m)
You people have started again oooo
Posted: at 20-12-2015 07:13 AM (8 years ago) | Upcoming
Reply
- kp45 at 20-12-2015 07:43 AM (8 years ago)
(m)
Not just saying just keep doing it.
Posted: at 20-12-2015 07:43 AM (8 years ago) | Addicted Hero
Reply
- emma4love3 at 20-12-2015 08:08 AM (8 years ago)
(m)
well Acording to former Uniben ASUU War lord and President
late prof.Iyayi of the blessed memory...during the susidy crisis
stated that and i qoute that the us nothing like
subsidy in the petrolem after all their own investigations
they find out that subsidy is a scam....there is no subsidy...
government is using and playing with the citizens...
Posted: at 20-12-2015 08:08 AM (8 years ago) | Hero
Reply
- Novic at 20-12-2015 10:18 AM (8 years ago)
(m)
We are really waiting for any outcome you people may land on. All we want is that petrol must cm dwn.
Posted: at 20-12-2015 10:18 AM (8 years ago) | Hero
Reply
- gogoman at 20-12-2015 10:48 AM (8 years ago)
(m)
This naija government dey mad i swear!! se dem blind ni!!  DAMN PETROL IS CHEAPER ACROSS THE WORLD NA !  EUROPE , USA AND ASIAN
Posted: at 20-12-2015 10:48 AM (8 years ago) | Grande Master
Reply
- Oworen25 at 20-12-2015 10:58 AM (8 years ago)
(m)
Why most they even sell petrol 87 naira per liter it a cheat to us when in a country like Nigeria we are one of the most oil own country in the whole world.
Posted: at 20-12-2015 10:58 AM (8 years ago) | Hero
Reply
- botlex at 20-12-2015 11:12 AM (8 years ago)
(m)
You guys have come again with your speculations. Well it'll be great if you guys can actualize it
Posted: at 20-12-2015 11:12 AM (8 years ago) | Gistmaniac
Reply
- winace at 20-12-2015 12:47 PM (8 years ago)
(f)
Pls promise is a debt. 40 naira or thing. Na 40 naira una promise during campaign.
Posted: at 20-12-2015 12:47 PM (8 years ago) | Addicted Hero
Reply
- dleg at 20-12-2015 01:05 PM (8 years ago)
(m)
If the subsidy is remove for 1 yr and Nigeria get it at N91 for the government to save N200 million per day. That money could be use to finish up refineries to work in full capacity. Then, we can do without importation of the product and the price will reduce more less that N40 per litre.
 l think is still better than buying it at N120 per litre with suffering.
Posted: at 20-12-2015 01:05 PM (8 years ago) | Gistmaniac
Reply
- zezprincess at 20-12-2015 02:09 PM (8 years ago)
(f)
It is ok,we are watching&waiting.let it be according as said.
Posted: at 20-12-2015 02:09 PM (8 years ago) | Hero
Reply
- Powerfulify at 20-12-2015 02:13 PM (8 years ago)
(m)
Pls make d product available leave dat promise
Posted: at 20-12-2015 02:13 PM (8 years ago) | Gistmaniac
Reply
- XTnote at 20-12-2015 09:28 PM (8 years ago)
(m)
Promises are comfort to only a fool, guess that is the way this administration see nigerians, otherwise which of the campaign promises have they fulfilled?
Posted: at 20-12-2015 09:28 PM (8 years ago) | Upcoming
Reply
- okatee at 20-12-2015 11:53 PM (8 years ago)
(m)
abeg mak una start to wuk. we don taya 4 talk talk
Posted: at 20-12-2015 11:53 PM (8 years ago) | Gistmaniac
Reply
- nonix22001 at 21-12-2015 12:04 AM (8 years ago)
(m)
the government knows very well about this analysis but will choose to turn a blind eye. no be today yash dey back abeg!
Posted: at 21-12-2015 12:04 AM (8 years ago) | Upcoming
Reply
- Mopera at 31-12-2015 09:14 AM (8 years ago)
(m)
well Acording to former Uniben
ASUU War lord and President
late prof.Iyayi of the blessed
memory...during the susidy crisis
stated that and i qoute that the us
nothing like subsidy in the petrolem after all
their own investigations
they find out that subsidy is a
scam....there is no subsidy...
government is using and playing
with the citizens...
Posted: at 31-12-2015 09:14 AM (8 years ago) | Gistmaniac
Reply
ReplyFollow
Login To Post Reply

Latest Updates

Wizkid Undergoing Mental Illness, No Longer Together With Jada – Isaac Fayose Reveals

Chelsea v Tottenham: English Premier League Match,Team News,Goal Scorers and Stats

Phyna’s Alleged Ex Boyfriend Threatens To Expose Her To World If She Talks About Davido

He Is Undoubtedly The 001 Of The Nigerian Music Industry – Senator Dino Melaye Gives Davido Nod Over Wizkid

Veteran Actress, Sola Sobowale Recounts Difficult Life She Lives Abroad

Barcelona Set To Tackle Financial Woes By Clearing Out Eight Players (Full List)

EFCC Slammed With N10m Damages For Declaring Pastor, Wife Wanted Without Court Order

Netizens Dig Up Tunde Ednut’s Throwback Performance At Children's Party Amidst Wizkid & Davido's Beef

VIDEO; Nigerian Boy Stirs Reactions After Flaunting His Older White Lover

More Featured Topics

fire TRENDING GISTS fire

THIS WEEK

  1. Nigerian Tenant Discovers Landlord With Wife & Daughter, Sparks Outrage Online (Video)

  2. Benin Kingdom Suspends Five Functionaries For ‘Unauthorised’ Visit To Ooni Of Ife

  3. Stop Lagos-Calabar Highway Project - Obi Tells Tinubu As Demolition of Landmark Centre Begins

  4. Lady Who Worked As A Maid In Saudi Arabia Narrates Her Harrowing Ordeal As Boss Impregnates Her

  5. Investigation Launched Into Mysterious Death Of VGC Chairman, Gihan Mbelu In Lagos

  6. No More Big 3 In Afrobeat, I'm On Same Level With Wizkid, Davido And Burnaboy - Rema Reveals

  7. I Will Reconcile Atiku And Wike If I Emerge PDP National Chairman – Suswam

  8. MAY 1st; Peter Obi Celebrates Nigerian Workers, Sends Message

  9. VIDEO: Singer, Davido Becomes First to Own The $500,000 2024 Rolls Royce Spectre

  10. Drama As Actress, Toyin Abraham Ajeyemi Clashes With Area Boys On Movie Set (Video)

TOP MEMBERS:
  • gogoman 76
  • Lade200 55
  • fineboy77 37
  • felicilin 37
  • bohlah 26
Read More

Featured Topics

. Wizkid Undergoing Mental Illness, No Longer Together With Jada – Isaac Fayose Reveals

. Chelsea v Tottenham: English Premier League Match,Team News,Goal Scorers and Stats

. Phyna’s Alleged Ex Boyfriend Threatens To Expose Her To World If She Talks About Davido

. He Is Undoubtedly The 001 Of The Nigerian Music Industry – Senator Dino Melaye Gives Davido Nod Over Wizkid

. Veteran Actress, Sola Sobowale Recounts Difficult Life She Lives Abroad

. Barcelona Set To Tackle Financial Woes By Clearing Out Eight Players (Full List)

. EFCC Slammed With N10m Damages For Declaring Pastor, Wife Wanted Without Court Order

. Netizens Dig Up Tunde Ednut’s Throwback Performance At Children's Party Amidst Wizkid & Davido's Beef

. VIDEO; Nigerian Boy Stirs Reactions After Flaunting His Older White Lover

.. 86 Makeshift Apartments Where Tenants Pay N250,000 Annually Uncovered Beneath Lagos Bridge (Video)

. VID: Xxssive Reveals That Wizkid Might Have Been Paid to Start Fight With Davido

. 'No Minimum Wage By End Of May, No Peace' – Labour Threatens Nigerian Govt

. Edo Governor Obaseki Reveals Why He Approved N70,000 Minimum Wage

. "Follow Due Process In Prosecuting Yahaya Bello" – Actor Segun Arinze Tells EFCC

. Former Big Brother Naija Star, Chomzy Welcomes Baby Boy With Husband

. "Why We Choose Collaboration Over Beef" – Fireboy On Why He's Working With Rema

. Nigerian Singer, Flavour Asserts Individuality Amid Industry Turmoil: "I'm in a League Of My Own"

. Rapper Odumodublvck Attacks Some Of His Friends, Calls Them Cockroaches

. Actress Sarah Martins Urges Married Men To Prioritize Intimacy With Wives

. The Biggest Mess Created In 2023 Was Devaluation Of Naira – Aliko Dangote

. Music Executive, Dilly Umeniyora Calls Out Former Signee, Runtown Over $1.5m Debt

. 75-Year-Old Man, Nwankwo Nweke Arrested For Assaulting 8-Year-Old Girl In Anambra State

.. Phone Snatcher, Sani Musa Arrested After Stabbing Salesgirl, Sheba Simon In Yobe State

.. Man Shares How Fellow Nigerian Stopped His Employment In A Company In UK

. VIDEO: Late Actress Racheal Oniga's Daughter Gets Emotional As She Ties The Knot With Her Boo

.. Residents Defy Warning, Risk Lives To Scoop Petrol From Fallen Tanker In Edo State

. I Will Spend a Thousand Lifetime With Her – Yul Edochie Gushes Over 2nd Wife, Judy Austin

.. Tragedy Strikes: 14-Year-Old Nigerian, Daniel Anjorin Killed In London Sword Attack

. JAMB Makes Major Clarification on Checking The Just Released 2024 UTME Results

. President Tinubu Congratulates Nigerian Workers On May Day

More Featured Topics