uncleu:
Exactly my thought. Fuel price in the United States has fallen from $400 a gallon to less than $200 a gallon between May 2014 and now. Why should it still be N97 in Nigeria.

LocalChamp:
Oil Crisis: Buhari demands immediate reduction in fuel prices

January 13, 2015 Premium Times


The presidential candidate of the All Progressives Congress, APC, Muhammadu Buhari, has called on the Nigerian government to implement immediate price reduction on fuel products to reflect the downscaling in global oil prices.
Speaking through his campaign organization, the All Progressives Congress Presidential Campaign Council, on Monday, Mr. Buhari asked the government to “stop stealing from Nigerians and allow them enjoy the relief that has come to consumers of petroleum products globally”.
A statement from the Directorate of Media and Publicity of the APC presidential campaign said it was disturbing that in spite of the fall in the global price of crude oil, Nigerians still buy petroleum products at pump prices as if the global price of crude oil had remained at $100 (USD) per barrel.
The statement said: “The current attempt by the government to deregulate the prices of some petroleum products has been completely compromised to satisfy few money bags to the detriment of the Nigerian people and the economy.
“The price of diesel which has been deregulated since 2009 still sells at the pump price of N150 and N170 per litre, the same pump price when the international benchmark per barrel of crude was over $100. Now that the international benchmark has dropped to $47.5 (USD) per barrel as at Monday, we ask: where is the deregulation and the relief which it ought to bring to local consumers of diesel?
“For the Nigerian consumers, unfortunately the collapse of crude oil price since October 2014 has not translated into any change in diesel, kerosene and PMS prices across the country.
“We challenge the federal government to reconcile the information on the website of the Petroleum Products Pricing and Regulatory Agency, indicating the maximum open market price of diesel per litre in December 2014 as being at N111.6 and the fact that the price has come down to less than $50 (USD) as at Monday.
“We want to posit that that the maximum indicative benchmark open consumers of diesel should pay is at a margin below N100 per litre. Therefore, Nigerians are being short-changed by about N50 to N70 on every litre of diesel sold by government.
“The implication of this is that with average consumption of about 12 to 15 million litres, Nigerians are currently extorted of amounts between N600 Million to N1 Billion daily due to corruption-induced poor regulatory oversight of the Ministry of Petroleum Resources. No wonder some few industry players are smiling to the banks and buying private jets while small scale industrialists who buy diesel on daily basis for power generation and transportation find it difficult to break-even with their businesses.
“Similarly on Kerosene, information available on the website of the PPPRA puts the Open Market Price at N114.71 per litre although the market price is anything above N150 per litre when the global price for a barrel of crude oil was $65 (USD). Now that international price of crude is at $47.5 (USD) per barrel, why are Nigerians still buying kerosene per litre at the same price? Why are Nigerians not benefitting from the global shortfall in the prices of crude by having a cut in the pump prices of petroleum products?
“We are aware that there are examples in other African countries where governments have cut the pump prices of petroleum products to reflect the changes in the global oil market. Countries like South Africa, Zambia, Tanzania and Kenya have announced cuts in pump prices of petroleum products, why can’t the Nigerian government do same?
“Given the failure of government to do the right thing by announcing a cut in the pump prices of these products, we are compelled to draw the conclusion that the federal government is short-changing Nigerians ostensibly to fund the campaign of the PDP presidential candidate.
“The APC Presidential Campaign challenges the federal government to make explanations on why Nigerians cannot benefit pricing reliefs on petroleum products as occasioned by the fall in the global price of crude oil. Anything should of this is a fraud and Nigerians should take note.
“As for PMS (petrol) the only product the government agrees as regulated at N97 per litre, the irony is that it does not even cost much as in the United States, a country that was importing oil from Nigeria until recently.
“Moreover, even the current budget is still heavy on subsidy with an allocation of N458.68 billion, a scheme that has become a conduit pipe over the years for which the children of ruling party leaders have been beneficiaries.”

http://www.premiumtimesng.com/news/top-news/174805-oil-crisis-buhari-demands-immediate-reduction-fuel-prices.html

SUBMARINE:



That's why we keep telling some almajiri oriented regions to eradicate subsidy so that we buy according to international price.


SAY NO TO SUBSIDY

Dbboy:
Go fuel pump go reduce am nah because say your name na buhari I go reduce fuel price.

uncleu:
Exactly my thought. Fuel price in the United States has fallen from $400 a gallon to less than $200 a gallon between May 2014 and now. Why should it still be N97 in Nigeria.

shikaan:

Lol for heavens sake prices are determined by demand and supply oooo. If supply is less that demand in Nigeria, the price will still be relatively high sir!!. Btw the government still pays some form of subsidy so u cant experience the effect of reduced prices
Kai @ least osunbande should teach this grandpa some basic economics na.

Code213:


You are a big mumu who thinks he knows all, but knows not that he knows not!!! Fool yourself because of political sentiments! Everywhere in the world, pms price has dropped to reflect the fall in price of crude!

billsteve:
Buhari na madness dey dat your afari head instead of you to talk about light you dey call fuel donkey

shikaan:

Lol for heavens sake prices are determined by demand and supply oooo. If supply is less that demand in Nigeria, the price will still be relatively high sir!!. Btw the government still pays some form of subsidy so u cant experience the effect of reduced prices
Kai @ least osunbande should teach this grandpa some basic economics na.

gabriel212:

am appalled at your level of ignorance.
This is one of the reasons gej had been a monumental failure for so far out of doing things that can earn him public sympathy. If he had acted fast, he would had use it as part of his campaign against people's reasoning that he did fail to act at the appropriate time n would safe his face lightly against corruption allegations. now,
The Apc had gained a political point for coming up with that suggestion ahead of the federal government. Wat a SHAME INDEED!

kendrick9:
this buhari is insane

gabriel212:

sorry to ask you wrote that? even a social study students in js1 can never ever write that!
NO WONDER!

Code213:


You are a big mumu who thinks he knows all, but knows not that he knows not!!! Fool yourself because of political sentiments! Everywhere in the world, pms price has dropped to reflect the fall in price of crude!