Petrol price to come down - VP Osinbajo | Welcome to Linda Ikeji's Blog

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Saturday, 24 October 2015

Petrol price to come down - VP Osinbajo

Vice-President Yemi Osinbajo says that the government is working to reduce the price of petroleum products by encouraging and working with private refineries and reducing importation. Osinbajo, who is in the UK to sign the Nigeria-UK solar energy agreement, told Bloomberg in an interview...
"We are going to be unbundling the NNPC so that its various components are effective core centres and are able to do their business well. We are going to have private refineries at the site of the old refineries, so they can benefit from the available infrastructure. So, we think that in the medium term, we would be able to get cheaper pump price, pump price of oil would be cheaper because we would be importing far less refined petroleum. A lot of that will be produced locally.
“Now, we have well over 30 modular refineries licences, so we think a lot of modular refineries would come. Many of them, their major concern is feed stock, are we going to be guaranteed feed stock? We are working on that. Once we are able to deal with that, we feel we would substantially be able to reduce pump price and get the whole business of importation of refined petroleum and the NNPC just getting directly involved in business; we are going to reduce that. The objective is to make the NNPC play more regulatory function.
“They are options that are always there. But we think that there are ways we can raise our own potion of contribution to the Joint Ventures. It will only be a last resort and we have not come anywhere near that.” Osinbajo said

70 comments:

Davido's driver said...

Change in progress

@lwkmd_naija - follow on instagram/twitter said...

Hmm let's hope.

AbokiDaWarriBoy said...

CHANGE is here!

freeborn zinalima said...

Another unfulfil promise of imbecilic administration of terrorist buhari.
We are watching.
























#sad indeed

Ngene Olivia said...

We'v heard that for many months now, when exactly Will d price reduce abeg? Till thy kingdom come













#It WiLL oNLy gEt beTTer
#iT MuSt eNd IN pRAisE

Peace Nwadire said...

That's a good one

anita gold said...

Noted

NaijaDeltaBabe said...

We r waiting o

Anonymous said...

Cool



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Amaka Ngenegbo said...

Its already coming down. Some marketers sell for #85 per liter.

















#TeamBlessed#

BONARIO NNAGS said...

I believe you my VP.
CHANGE is here.


~BONARIO~says so via NOKIA LUMIA

AC£S said...

Noted

irabo bobby fera favor said...

Nice one. May God bless u Yemi Osinbajo nd PMB with good health, long life, and wisdom to lead Nigeria in Jesus name.

o.m.g..its anny said...

I pwey oooo

OSINANL said...

This thiefnubu stooge and his empty promises...
School children are still expecting free lunch Nationwide, and this idiot is here promising another one

OSINANL said...

This thiefnubu stooge and his empty promises...
School children are still expecting free lunch Nationwide, and this idiot is here promising another one

badmos olanrewaju said...

God bless my Pastor.

Ogunleye Segun said...

We will all appreciate it if that can possible as they said on time. God bless Nigeria.

Ogunleye Segun said...

We will all appreciate it if that can possible as they said on time. God bless Nigeria.

Anonymous said...

God bless our Amiable president God bless our vice president, God bless Nigeria! I voted for change nd change is here.....Apc till 2036

Invincible said...

wow dat cool,cos dere is fuel scarcity in Kwaraa

Ogunleye Segun said...

We shall all appreciate that if it can be implemented on time as they said. God bless our Government, God bless Federal Republic of Nigeria.

AbokiDaWarriBoy said...

Amen! Amen! $ Amen!

christie benjamin said...

We'll have to wait and see....

Juliet Iwuno said...

Well done My Able VP. Linda take note!

seyi crown said...

That will be really nice... we Masses will really appreciate that









Seyilicious

Anonymous said...

Idiot.how is there change.sir please the free meal first before anyother thing.and please sharply drop that fuel as u are beginning to show a shocking amount of incompetence.just waste my good vote.btw dummy there is no election in 2036,the only thing that can make that possible is if this republic falls at the hands of the military and the military chooses to hand over in 2036.Fool like u.............linda please just do not chop again

OSINANL said...

This thiefnubu stooge and his empty promises...
School children are still expecting free lunch Nationwide, and this idiot is here promising another one

Miriam Ezeka said...

I heard there is going to be fuel scarcity next week. How true is that?




You will also decree a thing, and it will be established for you: Bless yourself today

timileyin blessing said...

During the campaign I respected this man,they shouldn't have promise us this much,nice one though. TIMILEYIN BLESSING

mamazee a said...

Fuck off!!

GIMYlancer said...

Let it be true o


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AbokiDaWarriBoy said...

Anon;10:57 you voted for continuity not change so stop deceiving yourself, if you haven't perceive any Change in the country then u are obviously in another planet + you sound very bitter,a cube of sugar will cure ur bitterness!

gab2shoes said...

The lastime we heard dis Na strict ad queue we almost see.......make una no Zuzu for Dere uncle vp, no problem, Na two fingers I Use vote saibaba,......we get una yansh,


The gods are wise
Gab2shoessaysso

Simonlub said...

Nice one, this is good news for Nigerians

Anonymous said...

This Buhari’s government is been from Britain why is it all their announcement usually comes from outside the country. CLUELESS GOVERNMENT

oludare joshua mulero said...

He is a man of high moral standard.The VP doesn't speak anyhow.I am quite sure they are actually working on it.Good luck to him and the Nigerian people.

Anonymous said...

http://Job4Living.com/?ref=132445 need some extra cash register here cost you nothing

Emma Ikuka said...

Its has been long be hearing all those political promises... Seen and believed.. Linda, observe carefully

Linda, observe carefully

Linda, observe carefully

Linda, observe carefully

Anonymous said...

Amen.

Anonymous said...

Because he is your pastor abi? Ok oh God dey watch all of una for 3D

Jasmine Joseph said...

Abeg Abeg this promise and fail administration

Jasmine Joseph said...

Abeg Abeg this promise and fail administration

Jasmine Joseph said...

Abeg Abeg this promise and fail administration

uchegbu chioma said...

Private refineries? What then happens to federal ones? Well Jeremiah 10:23 has d final say

Anonymous said...

when in kano we haven't seen fuel for weeks now and you are talking of reduction forget about it make the flow of fuel steady at 87naira and we are ok not promising us like you did in campaign without fulfilling

Chiinonso Okoh said...

Would be glad if it comes to reality.
Unbundling the NNPC is a great step.

Anonymous said...

when we in kano haven't seen fuel in weeks now you are promising reduction why not make steady at 87 naira why promise us like you did before election without fulfilling

ROYAL PRIESTHOOD said...

I praise d Lord for dis and I pray we all live to see dis changes in our dear country.

kelvin andre said...

To 50niara at least

Anonymous said...

I beg NEPA just cut my light,D electricity billing in this country is high,Na our main problem now

Anonymous said...

PMB and his VP have done a pukka job. We believe ur promised and Nigeria's said carry go. We don't care what those morons are saying about free lunch. They 're all enemies of progress. We 're very happy with ur styles of leadership. Please go ahead God is with you and we 're there praying for you to succeed and take Nigeria's to d promise land.

sweetie said...

Amen, 2 men of honour and integrity

Anonymous said...

Aboki u are a fool.if u have percieved any change then u need a new nose cause the one u have now is faulty.u are coming here to scream change at "promise of reduce fuel price".I am bitter cause its same old cargos.I don't know what osinbajo is doing here.an odd man surrounded by criminals.u are a fool.state the changes ples.and don't say the two or 3 persecution of corrupt people cause even ibori and alameisigha were prosecuted under the "corrupt pdp years"fool.how come u are silent or only have prayers to say now when bombs go off.I'd rather be bitter when there is nothing to be happy about in government than to be a sycophant and decieve myself.I voted for change but there hasn't been any change yet.neither gej nor pmb is my father.so when I see something wrong I say it.I'm not an asslicker lik u gay fool.kindly take of those stupid shades.the vp promised free food for schools and extra allowance for corpers.both of which are big projects.so what is this now about fuel.do u start building a new house when u have two uncompleted ones?ok so he dropped fuel price indeed.ok good.do we forget about the food and allowance then,cause no one is speaking on it anymore.I just hate stupid people and I've been following ur comments since.u sound so insincere.nigeria is for all not for ur lying tongue.anyone who loves nigeria will say fact always.I'm surprised the true warri boys have not dealt with u yet.u are a classic case of living in denial.I will get that cube of sugar if u will go get a new brain.u need it sir.receive sense in Jesus name.I respect the vp.but dissapointed with the trend the govt is taking.I didn't vote against gej so that the new president and his aides will come and tell me the president is not shy of women just hours after people died.............aunty linda please post.becos this is serious.u are a blogger and should be neutral and not in support of sycophancy.so please post.

Anonymous said...

Anon 1:28 pm.God bless u.abeg tell that aboki the kaduna boy.the guy na chief campaign manager for before,during and after elections.I don tire for him and bonario.bonario is even a lot more sincere...........linlin;) how far now

Anonymous said...

Issokay

Anonymous said...

Some people just refused to see changes that are so obvious because of bitterness. Anyway your opinion doesn't stop the good work.

Anonymous said...

Some people just refused to see changes that are so obvious because of bitterness. Anyway your opinion doesn't stop the good work.

Anonymous said...

Another promise and fail from these Wayo party. And Linda which channel are I watching these beauty pagent

leonard ahueyi said...

I believe in current government, I know change will surely come

Haske Haske said...

nonsence

amakaluvlyG said...

I hope it happens...# inspired by Linda

Anonymous said...

Aboki why now anonymous.fool.to sense bitterness or change get a new nose and a new brain.u must defend all attacks against apc.so people with concerns are stupid now shey???now its forget about free food and campaign promises and u just like their leadership style?please what is their leadership style u like so far?lying to nigerians?lack of concern about victims of bokoharam like we saw yesterday?threatening bokoharam when they know their hideouts?at least gej was "clueless" which is not a crime.if a leader is clueless he is not voted in again.but this our new leaders say they know it all(so they are saying they are not clueless).they even know their hideouts yet refuse to take actions but keep issuing warnings while people die.That's a crime,a treason against nigeria.No one Is bigger than nigeria nor does anyone have the right to commit treason against naija.not even pmb.u see changes every where.oooh 18 hours light,dollar is equal to 150 naira,fuel is 80 naira,a quarter schools in naija are fed,all corpers received a 100 naira increment in allowance,buhari declared his full assest and found is untraceable land in portharcourt,5 criminals arrested for corruption,bokoharam now bombs once a month,fair appointments.All this are little changes that won't take the government much and which we were promised.as anyone of these being fulfilled?nope.not a single one.but u see changes.all this just means u have no brain and u are tribal...........linda please post this.as one of the follow up was missing.God bless u

Hembafan Tilley-Gyado said...

Is it magic? Or African juju? It has already reduced to N87 per litre. Which is better than what former pres. Jonathan could do in more than 5 years in power.
there is also surplus fuel here in makurdi the benue state capital that, the attendants almost have to stand by the roadside to call for costumers!
As for me and mine, we will enjoy this regime wella

AbokiDaWarriBoy said...

Lmfaooo and the bitterness continue.....aya kpele biko crawl back to that planet u came out from cus u aren't still making any sense! Free you heart from hate so as to regain sense.

Oyeols said...

Reduction in pump price by fiat is not what we need. Since crude oil prices are low now and look like they will be low for a while to come, I'd rather we privatize the industry now. This will provide lots of investments and jobs and bring about more efficiency in the allocation of capital. Monies currently spent by government in subsidy can then be spent on roads, rail, education and power.


As for those with modular refinery license, I hope they don't think crude will be allocated to them? They should by at the International price of crude like everyone else. In fact transfer pricing of crude to the refineries should be at international prices as well.

Lucy Effiong said...

APC ! ! ! Change for life. Praise be to God.

Anonymous said...

Are you saying those two projects should come before reduction of fuel?it has already been reduced to 87 which someone couldn't do in 6yrs,why are people so dump and believes governance of a federal government is like governing a class?what shit have you contributed to this country,all you do is sit at that shithole you call home and make demands,the trouble you guys caused in 6yrs has not been rectified yet and you are there clamouring for projects,which needs proper planning and supervision,we don't want that to be a gateway into killing our kids,so it sure does needs supervision,ask your father ,he will definitely tell you reduction of fuel should come first...looser,your bitterness for this current adminstration overshadows your judgement ..Damn!!!.its not even a year yet..people can be stupid(let's help stop your stupidity first)..OmoA

Ade Olasengbe said...

We r waiting! APC.......change

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