"The Nigerian National Petroleum Corporation (NNPC) yesterday urged the Petroleum Products Regulatory Agency (PPPRA) to adjust pump prices of petroleum products to reflect the going rates in the international market, as it could no longer absorb the cost of fuel supply and distribution in the country."

http://www.thisdayonline.com/nview.php?id=24918 (username 'nairaland', password 'nairaland')

"According to them, PMS would now sell for N61 in Lagos and certainly higher in the Northern and Eastern parts of the country," the union said.

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"Nigeria Labour Congress (NLC) has appealed to President Olusegun Obasanjo not to sanction the rumoured hike in the price of petroleum products, stressing that there was absolutely no cause for such increment."

I wouldn't mind paying that for petrol, it costs us $1.20 a litre.

just curious

There are indications that government may have given the Nigerian National Petroleum Corporation (NNPC) the go-ahead to increase its ex-depot price of petroleum products which will lead to petrol being retailed at an unprecedented pump price of N80 per litre this week.

From The Vanguard

Interesting init?

so these guys essentially want to double the price of gas.. we arent at the point where we can do with the subsidies

It is now to be sold for N68 in PH.

Incredible!

hunter, is that US dollars?

hum Hunter have you analysed the income : expense ratio between Nigeria and Australia? But still Nigerian petrol is cheap sha. Nigerians are just too used to subsidised petrol. But if we want progress I think we should be able to pay the price of progress. The govt is trying to lift the millions or if not billions, it is spending on subsidies to invest into other stuffs to help Nigerians.

@ Hunter

How much do you guyz earn in Australia. The official minimum wage in nigeria is a little above $55 a month. i guess you earn up to $3000 a month if you are a worker so pls dont compare

And now that they have increased the pump price of petroleum products lets see what they will do with the money that they were using to subsidise the importation or is it production of these products.  

Hunter and kazey feel that the cost of petrol is cheap compared to where they reside Australia and Malaysia ,  I want them and their ilks to compare income of their locale to that of Nigeria where the minimum wage is N7500 (US$54) for federal government workers and in the private sector people still earn N3000 (US$21.50) a month. they should also compare the infrastucture provided by the government especially on transport, and the source of the petroleum product to their country.let me supply a part of the answer to the last question ,the Nigerian government collects it crude oil from Nigeria but foolishly sells most of it and goes again to foreign countries to buy low quality refined products only to tell Nigerians that the products are highly subsidised. and mind you they do not pay anybody for the crude oil.


The painful part of this is that the government does not think of improving the quality of life of the Nigerian masses, and just some two decades ago the Naira was stronger than the US Dollar not to talk of the Austrailian dollar   this should explain some of the disgust which Nigerians feel for the lame excuses they get from the government when they increase the price of this products . this adminstration once used millions of naira to demolish toll gates across the nation telling Nigerians that they were going to repair roads with the extra money they will get from the increase in petroleum products.

We can go on and on to other issues related to petroleum like energy and production, one would ordinarily think that since we are making excess monies from he sale of crude oil that the value of the Naira will improve but the reverse is the case.
 Lets me just add this when we were younger in the early eighties , lepers were people that we heard  of in bible stories but now you see lepers in the street of lagos and on the highways begging for alms , because the government has stoped giving subsidies to lepers colonies and hospitals so these lepers have to take to the streets to survive you would even expect the government to saparate them from their children who are not yet infected but that is the least on the government agenda

can anione give me d prices of pms,and kerosene ,for d last few years in nigeria...pls is reall important

Jsyk it's #234 now