Last night #TheRoundtableNG focused on: A report that government will no longer control the pricing of Premium Motor Spirit(PMS). The report indicates that the price at each time will be determined by market factors.
@ThisIsPOU opened the floor with a question on the implication of this move, amidst calls for the reversal of PMS pump price by Nigerians.
@OgbeideSmith responded “One of the implications is that we will end up buying petrol for over #200 before the year runs out. How can you allow forces of demand and supply to regulate price when you are still importing the commodity?”
@ThisIsPOU wondered “Will IPMAN determine what others sell after importing? Does the DPR have the resources to check product quality in filling stations nationwide? Wont this lead to the return of fuel queues?
I think we’re getting into messier territory than we already are. Not only will it cost more, we might end up with more adulterated products in the market. We’ve already seen that our policy drivers turn a blind eye to certain issues when the price is right.”
@von_Bismack added that “The truth remains that we shouldn’t be subsidizing petroleum and it’s products, but the timing matters. We are just coming out from a pandemic and govts world over try to mitigate the effect of the shutdown on its citizens. A good policy executed wrongly or at a wrong time.”
@zeit1607 asked “What about fixing our refineries? Can’t be done? Didn’t Buhari say he will do it before he got to ASO ROCK?”, @TroubleMan01 responded “He also said 1Naira would exchange for $1 amongst other things but here we are”.
@ThisIsPOU reechoed the stance of the Peoples Democratic Party(PDP) Presidential Candidate in the last election, Alhaji Atiku Abubakar, that “those refineries should either be sold or leased out. We have no business anymore spending a dime on those refineries”.
To @balogunfd “This is a ruse by current regime. Any sincere government will first facilitate the passage of PIB, then roll out a plan to liquidate many petroleum agencies which should no longer be functional. FG should back any deregulation attempt by law”, @IamtheOGee supported this assertion “Total ruse. they’ll claim no subsidy until ppll in sokoto complain folks in lagos pay less. Pppra/pef only exist to ensure fuel cost the same nationwide which isnt justified by the economics as there is cost of transport/maintenance for example”
@SpelledSanmi accused the government of trying to hide behind market forces to fix arbitrary prices “This was the initial plan before the removal of subsidy, they want the price to be regulated by the NUPENG and NNPC but I guess they opted for this. Using the ‘demand & supply’ prices to choose whatever price(s) they want.”
Also on #TheRoundtableNG was the call by the Chairman Fidelity bank PLC, Mr Mustafa Chike Obi, in the political class to also join in making sacrifices for the nation at tough times as this.
@ThisIsPOU added “The brunt is always on the masses. We’re always the ones asked to sacrifice while political office holders hub around with conveys & private jets, then offer loaves of bread & recharge cards to voters during elections”.
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