nwanna89:
Minimum wage in USA is not 18,000 naira per month

you hit point

nwanna89:
Minimum wage in USA is not 18,000 naira per month

Ohh now the problem is minimum wage?

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God bless you.. them no even get oil reach us...

9icetoo:

In the USA supply and demand determines the final price. In our blessed Nigeria, the price is fixed by the government and not by economic laws. if the government decides to subsidize PMS to the amount you quoted above, we would be in even worse condition than we are presently. (We made a budget with oil at 75 dollars a barrel; now oil is way below 50 dollars a barrel, where do you think they will manufacture money to continue subsidizing this commodity and yet continue running the government? I still maintain that subsidy should be abolished. When it is, local refineries will spring, buy crude oil at competitive rates, refine and sell at even lower prices. Not to mention the jobs they will create during their construction and subsequent operation. win win situation for all.

So because you don't want a worse situation, the government should list petrol price at above market price for its citizens? Abi you never get say with the current price (if you compute using actual us prices, its lower - OP used outdated or manufactured prices) you are actually subsidizing the government instead of them subsidizing you?

Keegan:


I KNOW you are one of the frustrated soul from the southeast, this is reality.
I don't need a ball to tell me so.

ONE OF THEIR E RATS AND E THUGS HAVE SPOKEN

BY THEIR WRITING WE HAVE KNOWN THEM

THERE WILL BE WEEPING AND GNASHING OF TEETH BY FEBUARY 15TH 2015 AD

bishopclin:
I saw various posts on the social media, criticising federal government's reduction of gasoline(PMS or Petrol) pump price from N97 to N87. More worrisome is the fact that some of our youths join the bandwagon in the criticism.

I wonder why we have some youths of our country who can not make use of their brains to ponder on issues that would further enrich the country. Present day youths are being tossed around by the older ones and sometimes, by illiterates. ‎

Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps of recent in the US (do some ‎confirmation) 1US gallon = 3.7854ltrs‎ ‎$2.2021 = N398.58 (@ exchange rate of N181/$) Therefore, 1gallon = N398.58 ÷ ‎3.7854ltrs = N105.29/ltr in the US

Meanwhile, in Nigeria, after taking into consideration, landing costs and other expenses,[s] it is N85/ltr for the same litre of gasoline[/s] yet people are ignorantly ranting on social media and elsewhere. Between Nigeria and the US, which is better? What has happened to some present day youths in my dear country, Nigeria‎? [s]Mr. President, Goodluck Jonathan has indeed shown that he has the interest of Nigerians at heart.‎[/s]

You Sir are one of nigeria's problem. Should we enter the streets and start jubilating because of N10 decrease in petrol price, the impact which won't be felt by the people, while petrol prices in other parts of the world has been dropping by 33% on average. We should all note that the details of this decrease has not being made public. therefore, questions need to be asked. what formaula was used to arrive at 10% decrease?Is the government paying more subsidy because of the decrease? did forces of demand and supply necessitate the decrease? In short, are we still paying subsidy on petroluem products or not? P.S the government is not transparent like since 1960.

bishopclin:
I saw various posts on the social media, criticising federal government's reduction of gasoline(PMS or Petrol) pump price from N97 to N87. More worrisome is the fact that some of our youths join the bandwagon in the criticism.

I wonder why we have some youths of our country who can not make use of their brains to ponder on issues that would further enrich the country. Present day youths are being tossed around by the older ones and sometimes, by illiterates. ‎

Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps of recent in the US (do some ‎confirmation) 1US gallon = 3.7854ltrs‎ ‎$2.2021 = N398.58 (@ exchange rate of N181/$) Therefore, 1gallon = N398.58 ÷ ‎3.7854ltrs = N105.29/ltr in the US

Meanwhile, in Nigeria, after taking into consideration, landing costs and other expenses, it is N85/ltr for the same litre of gasoline yet people are ignorantly ranting on social media and elsewhere. Between Nigeria and the US, which is better? What has happened to some present day youths in my dear country, Nigeria‎? Mr. President, Goodluck Jonathan has indeed shown that he has the interest of Nigerians at heart.‎

[size=32pt]OP is a tricky statistician. First he used the wrong average price. Secondly, averages can be affected by extreme values which can be due to certain conditions in some state. Most states in the US are selling petrol for about $1.5 - $1.7/gallon. Check http://gasbuddy.com to confirm[/size]

herald9:

What's so hard in dropping that Gaddam thing to N65...

For Pete's sake oil is 'made in Nigeria '

did U jst say OIL IS MADE?

saintkash:
a friend wrote this and he considered other factors unlike u
Sina Solaru
Price per barrel of crude oil a year ago
[January, 2014] was $97.92/barrel
worldwide. It is now $46.97/barrel.... Gas/
petrol was $3.28/gallon a year ago in the
U.S. It is now $1.89/gallon because of
demand & supply that controls the price. I
just bought a gallon of petrol/gas from
Costco at $1.89 cents/gallon today and since
1 gallon equals 3.78 liters, that equals to 50
cents per liter here in the U.S. That is
#92.50kobo per liter @ the exchange rate of
$1= #185naira ..... Per Capita Income in the
U.S. is $53,042 while per capita income in
Nigeria is $3,006 source: World Bank. That
means Nigeria is currently[until the so called
midnight] paying more at #97/liter than in
the U.S. at #92.50/liter. Nigerians should be
paying #5.24kobo per liter based on the per
capita income differential. Otherwise, the
result is still ABJECT POVERTY! Hit 'Like' if
you are not better off than you were 4 years
ago.

whoever wrote this shouldn't be allowed anywhere economy or business is being discussed....
really #5.24 kobo.... no dem for dash u...

dguy4:
Op pls get ur facts right before you post anything, America is not an oil producing state, you just can't compare them with us when it comes to crude oil, u compare your stats. with an oil producing state.

do u think anyone will ask if u 're oil producing wen u 're buying refined product....

Op, thunder fire yur mouth there.

ifevictor:


Like we are enjoying on diesel that has been fully deregulated..? You guys have forgotten that diesel is fully deregulated and the price/litre has refused to go below N150 per litre....Naa subsidy cause that one too.... We are taking about corruption and ineptitude of government, u are finding excuses for them. Instead of speaking out against this malady we are playing sentimental politics with our future
and that of our children...

All i think is that we need change of guard.....

What you should do is try and understand the issues instead of jumping on popular sentiment. You clearly don't understand what the subsidy is or how it works.

dguy4:
Op pls get ur facts right before you post anything, [size=20pt]America is not an oil producing state, [/size] you just can't compare them with us when it comes to crude oil, u compare your stats. with an oil producing state.

.

Given that we are currently contemplating the increasing difficulties we would face in the coming years as America has stopped buying our oil mainly because they have increased significantly their own production
, your response to the OP is the most [size=19pt]IGNORANT [/size] of all the IGNORANT responses on this thread.
But we are in a democracy and even the most IGNORANT individual gets a vote.

nwanna89:
Minimum wage in USA is not 18,000 naira per month

Price of crude oil is constant worldwide so price of petrol is expected to be uniform
It just cheaper in Nigeria because d government still subsidizes fuel

Joel3:


Just up. Since the partial removal what impact can we feel from it? If the government cannot build 100 full scale refinery in nigeria without subsidy remove at first than I give up on jonathan.

Jonathan is too afraid to step on toes. And corrupt and clueless as well.

One of the objectives of deregulating the downstream sector of the oil industry is to remove government interference in the sector and open it up to private investment. The government cannot build any refineries because it would defeat the purpose of deregulation. The 3 refineries we have are not functioning and are conduict pipes for corruption because they're government run. Asking the government to build more is telling the government to go on with corruption. If we deregulate and remove the subsidy, private companies come in and build refineries and compete with themselves and bring down the price of petrol, like it happened with GSM.
Jonathan wanted to remove the subsidy and allow private companies come in and build more refineries but you people refused. Now that other countries are enjoying the benefits of a deregulated oil sector, you're complaining like the children of Israel in the desert again. What exactly do Nigerians want?

bishopclin:
I saw various posts on the social media, criticising federal government's reduction of gasoline(PMS or Petrol) pump price from N97 to N87. More worrisome is the fact that some of our youths join the bandwagon in the criticism.

I wonder why we have some youths of our country who can not make use of their brains to ponder on issues that would further enrich the country. Present day youths are being tossed around by the older ones and sometimes, by illiterates. ‎

Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps of recent in the US (do some ‎confirmation) 1US gallon = 3.7854ltrs‎ ‎$2.2021 = N398.58 (@ exchange rate of N181/$) Therefore, 1gallon = N398.58 ÷ ‎3.7854ltrs = N105.29/ltr in the US

Meanwhile, in Nigeria, after taking into consideration, landing costs and other expenses, it is N85/ltr for the same litre of gasoline yet people are ignorantly ranting on social media and elsewhere. Between Nigeria and the US, which is better? What has happened to some present day youths in my dear country, Nigeria‎? Mr. President, Goodluck Jonathan has indeed shown that he has the interest of Nigerians at heart.‎

so many Nigerians has lost their birth right because of hypocrisy, the USA you are talking about are they oil producing nation, they don't have oil but yet have a lot of reserves, and you are comparing Nigeria that are blessed with oil..... this price can go below #87, but because so many people are ignorant of this, they keep praising the government even when their birth right is been sold out

Amisec:
This same GEJ increased the minimum wage to 18,000 naira don't forget. Some governors shouting change today has neither allowed the minimum wage to be paid nor passed PIB.

PIB is a federal government thing, not state.

patmaine:



whoever wrote this shouldn't be allowed anywhere economy or business is being discussed....
really #5.24 kobo.... no dem for dash u...

My brother,the things I hear/read on nairaland.
Setting aside obvious typographical errors (that everyone makes), the logic(more accurately illogic) ,pseudo analytics and horrible word construction displayed on this site , specifically the politics section,makes me wonder if it the same Nigerian Universities we all attended.
I cringe at times.

@op, I was actually looking forward to get educated by your post but as it is now, its very obvious that you are grossly mis or un informed on issues like this.

There are so many factors you didn't consider and its unfortunate that I don't have the luxury to educate you for now. Go back and do your home work well the come back. Even on the prices of gas in US you mentioned is hear say.

u b slowpoke ooo. Xo na u get sense pass.. I dont tink u sabi how to calculate at all. y dont u use ur brain to ask why it is now they decide to reduce the fuel price.. I can see u led by dem gej doings into d evil forest.. Wel goodluck to u mumu.

sammhi:


whoever wrote this did not go to school....so price of goods or a comodity is determined by per capita income and not on cost of production....?.you must be a genius...
also what is the annual US budget ...? nigeria annual budget is less than the US defence budget.......please dont let hatred blind your reasoning......or are you fasola the gov of lagos.....u reason like him...

Are u kidding me, he made more sense. He already stated demand and supply as one of d factors that controls price.

Guess u didnt read/ understand his post.

D man or guy dat post dis topic here is really a mumu,for goodness sake we hve abundant of crude oil in dis country,den y buying petrol @ such a high price and by d way US economy is far beta dan nigeria.Y did goodluck jonathan has 2 reduce d fuel pump by N10 nw cos its close 2 election time so dat nigerians can vote for him again and afta he wins he will take d fuel pump back 2 his normal N97,dis people really tinks nigerians r fool,we're wiser nw.tell ur goodluck dat we nigerians we don wise nw.na 2day crude oil price drop we dem dey reduce fuel pump nw.y dem no reduce d price since.Nigerians pls open ur eyes dis leaders do nt hve us @ heart,dey only care abt dem selves and dere selfish interest,and God will soon bring dem down and we shall all jubilate on dat day it will happen.

i dont really blame all this grown kids canvassin 4 GEJ, it seems most of them have being living better lives 4 d past 6yrs, hmmm no wonda many of them re employd in d imaginary realm n cruisin sum imaginary suv... If una like no go get sense. Awon ode

nwanna89:
Minimum wage in USA is not 18,000 naira per month

Let him know, since he is good at conversion tell him to convert 18,000naira to dollar and tell me the result is the minimum wage in the US.

Babymama1:


Another dumbo appears
No wonder you folks take jamb and WAEC multiple times and fail

yah dats u u r still in ur village looking for WAEC certificate idiot

bishopclin:
I saw various posts on the social media, criticising federal government's reduction of gasoline(PMS or Petrol) pump price from N97 to N87. More worrisome is the fact that some of our youths join the bandwagon in the criticism.

I wonder why we have some youths of our country who can not make use of their brains to ponder on issues that would further enrich the country. Present day youths are being tossed around by the older ones and sometimes, by illiterates. ‎

Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps of recent in the US (do some ‎confirmation) 1US gallon = 3.7854ltrs‎ ‎$2.2021 = N398.58 (@ exchange rate of N181/$) Therefore, 1gallon = N398.58 ÷ ‎3.7854ltrs = N105.29/ltr in the US

Meanwhile, in Nigeria, after taking into consideration, landing costs and other expenses, it is N85/ltr for the same litre of gasoline yet people are ignorantly ranting on social media and elsewhere. Between Nigeria and the US, which is better? What has happened to some present day youths in my dear country, Nigeria‎? Mr. President, Goodluck Jonathan has indeed shown that he has the interest of Nigerians at heart.‎
R

dude u are a big fool. And I type this with total disdain

donnypool:


in the US, it depend on the hour you work. if you work less, you might not even make up to $200 in a week. it depends on your willingness to work hard.

STILL ON STILL, you can not earn more than 18,000 as a security man in a government agency even if you work your socks off.

bishopclin:
I saw various posts on the social media, criticising federal government's reduction of gasoline(PMS or Petrol) pump price from N97 to N87. More worrisome is the fact that some of our youths join the bandwagon in the criticism.

I wonder why we have some youths of our country who can not make use of their brains to ponder on issues that would further enrich the country. Present day youths are being tossed around by the older ones and sometimes, by illiterates. ‎

Drivers paid an average of $2.2021 a gallon for regular gasoline at U.S. pumps of recent in the US (do some ‎confirmation) 1US gallon = 3.7854ltrs‎ ‎$2.2021 = N398.58 (@ exchange rate of N181/$) Therefore, 1gallon = N398.58 ÷ ‎3.7854ltrs = N105.29/ltr in the US

Meanwhile, in Nigeria, after taking into consideration, landing costs and other expenses, it is N85/ltr for the same litre of gasoline yet people are ignorantly ranting on social media and elsewhere. Between Nigeria and the US, which is better? What has happened to some present day youths in my dear country, Nigeria‎? Mr. President, Goodluck Jonathan has indeed shown that he has the interest of Nigerians at heart.‎

The minimum wage in the US as at Jan 2014 is 7.25/hour, compare that to working in Nigeria for 8hrs a day and 176hrs a month that is $1,276(minimum wage in the US) a month then convert to naira that is 229,680 naira @180/$ compare to 18,000 been paid as minimum wage here. Can u see the difference? Do ur research well b4 posting rubbish!

Is value of naira to dollars same or US and naija minimum wage same amt?