How Peter Obi intended to reduce Petrol Price.

Your analysis misses the point. If oil producing countries in the Middle East, Libya can keep petrol cheaper, then production alone isn’t d problem. Nigeria high pump price is driven largely by poor policy, corruption, & the failure to manage our oil wealth in d public interest.

They subsidize!!! How the fuck is this hard for you people to understand?

So what exactly makes fuel subsidy impossible for Nigeria? The real issue is fixing corruption, smuggling and loopholes so any subsidy is targeted, transparent and sustainable.

Go and ask Peter Obi

Just look at yourself. I used to think you're educationally liberated and non-partisant in judgement. Now you're just campaigning for Atiku. Where is our honor in this country?

Imbecile doesn’t know that we already get majority of our petrol from a Nigerian refinery. Quoting AI giving 2019 information. Typical obidiot

You're not thinking clearly—that is the problem. Now, tell me how the date changes the information. Also, relying mostly on one Nigerian refinery (Dangote) is just a monopoly. We have four state-owned refineries aren't even working today. PO talked about competition.

Stfu competition isnt going to fix high internationally benchmarked prices of crack spreads Refinery are one of the hardest things to run because they run on very veri low profit margins and are not profitable. The only reason why dangote refinery is making 17% is because of the war. Remove it and his profit margins squeezes to 5% Now compare that to a bureaucratic system with not the same level of efficiency as the corporate sector How do you even expect them to break even and not make a continuous loss forever

@Bond_not_james You make a lot of meaningful points but it doesn't invalidate PO's idea. Local refining directly lowers pump prices by eliminating freight, marine insurance, and port demurrage costs, which can artificially inflate imported fuel prices by 10% to 15%.

His typical illiterate supporter. Say na when “demand is high”

This guy is too daft or he is just lying He is an importer. He should know that oil prices are international benchmarked based on import-parity

You lack comprehension problem, he said supplying crude to our local refineries at a reasonable and competitive prices.

It’s madness to listen to people who don’t believe anything is possible. So it’s possible for the price of fuel to skyrocket but impossible for the price of fuel to fall.. how did 🤡 become social media influencers ffs

Then why did the emergence of dangote refinery bring down fuel to as low as 700+ at a time ? Nigeria is not just selling at current rate to dangote ... Nigeria is selling in dollars and Nigeria still insists on importing fuel

Did you really watch this interview? He is telling you he would do what Dangote has been begging us since. Nigeria is still the only oil producing country where citizens buy petrol base on international oil price.

I think exchange rate is the problem here, if we can achieve a strong currency against the dollar, our journey to a cheaper fuel price would be long.

Once you scrutinize the messiah you become an enemy, I can already see the dunces coming for you 😂.

Then vote for tinubu ?

Donald Duke nko?

Then you vote for him Its not that hard you know. Peter Obi has everything it takes to deliver. The question you need to ask is this" are our refinieries getting crude oil locally"? The answer is a big "Not enough".

Lol. Anyway these politicians know their audience.

You see the problem now. Make a video and tell your own audience that if crude is given to dangote in a sufficient quantity that price of PMS amd gas would still remain the same and see you trend for three days.

@Bond_not_james How are will going to give him sufficient quantity If we don’t have enough?

@Bond_not_james Who said we dont have enough?? Do you know what you are saying, and to say thats part of the corruption PO is talking about.

Intends** 🤦🏾‍♂️

When some of you talk I just shake my head, Peter Obi have said his going to supply local refineries crude oil in Niara. What exactly is your point or you are telling us countries don’t have the right to sell crude to their local refineries in local currency?

Paying subside on our refined Product in Nigeria is the best way actually. Let's supply to the refineries in Nigeria and when they produce we subsidize the price that will help us all instead of subsidizing crude that is coming from abroad.

Everyone under this tweet saying it is cheaper in so and so country and they’re also oil producing countries. They HEAVILY subsidize in those countries and before you say why can’t we do it in Nigeria I’ll advice you research population size and net income of the country. ✌🏾

Paying subsidy for imported fuel and giving crude oil to refineries in Nigeria in Nigerian price not international price is not same thing. He is saying exactly what Dangote has been requesting from us. Instead we removed subsidy and use our crude oil as collateral for loans.

Obi has always been consistent in his position on fuel subsidy, long before its eventual removal. Secondly, NNPC has not consistently delivered enough crude to meet the Dangote Refinery’s demands, which is why the refinery still has to import crude from overseas at prices influenced by the global market. If NNPC could consistently supply our local refineries with sufficient Nigerian crude at an agreed exchange rate, we would be far less exposed to global crude price shocks and disruptions such as the current US–Iran conflict. How can we expect to have meaningful control over domestic pump prices when we cannot even consistently supply our own refinery with enough crude? The whole point of having a major domestic refinery is to reduce our exposure to these external shocks but that only works if we can reliably supply it with locally produced crude.

Your problem is understanding, from a business perspective, if you supply dem crude locally, that takes away the cost off transportation and other logistics and instantly affecting the price of petrol is that not same as saying the price will go lower?

Shut up man, next time when you want to use AI give them the right prompts to get the right answers. Werey THINK sey him dey make intellectual analysis by asking AI how much it cost to produce Petrol rather how best to reduce petrol cost as an oil producing nation.

This guy is too dumb not sure he took the basic O/Level economics to start with. He’s too basic.

Didn't hear him say refine for local consumption? Government has the ability to sell crude lesser price for local consumption. Obi dellbrately didn't use subsidy because that's Atiku's campaign. You know this but you just wan talk

LOL Unfortunately he doesn't have any idea, he's sharing ignorance

Bro stop wasting ur energy on this zombies they will never understand

Wow very smart so you mean manufacturing and selling locally without incurring shipping and insurance and personnel costs will not impact costs by any percentage? So all these cost are 0$? And who say we must sell oil for local usage at international prices ?

Please, why must an oil producing country like Nigeria sell crude oil at a global price, since we own the crude oil? Can't we just fix our own price?

Obi didn't even say he will supply the crude at a discount to the refiners. Very dull man on developmental policy issues.

Duru, if other refineries are licensed it will be create healthy competition that will drive cost down. So there’s not only 1 approach and Obi has said it before, all those illegal refineries, legalize them, support them and watch competition grow.

Oga focus on working for Lagos state government in real estate because na there you Dey get your daily bread… mugu wey no know say barrel no be same as liter.

I’ve never heard you propose a genuinely creative way to bring the cost of anything down. It’s always some variation of “things should be expensive” dressed up as economic realism. Looks a lot like rationalising government incompetence.

You are wrong on this one though. The reason the previous subsidies didn’t work was mostly due to extreme corruption in all the government agencies. The solution raised by Obi and Atiku aren’t wrong, the Crude to petrol swap style of subsidy in Nigeria has been practiced.

So you are saying that if government supply crude to local refineries at discounted price, it will have no effect on the price of petrol?

The question is? How will he increase local production of crude oil enough to meet local demands ? How will he tackled the forward sales contract of crude, such that local demands can be met ? Is he not aware of this ? None of them can reverse petrol subsidy

@universal_god01 Going to give yourself for question and you answering with nothing to take home from it is nothing, we don’t need such mundane ideas as a leader , you will be surprised at how the country will fall flat at his cluelessness

I have read through some debate here; I will still go with Peter Obi because character is everything. Anybody can say anything and not have the discipline to follow through. To create an environment where businesses can compete among themselves & thrive takes a lot of character.

We know he doesn't have a clue.