The reduction in price from 70 to 65 naira for petrol may seem good. I hope there is no hidden agenda 'cos this is Nigeria. However this may mean we should prepare for a rapid increment in price to (maybe) 80 naira when global crude prices rise again. There will be a good excuse for that: "afterall we reduced the price when market said so and when market requires increment we do".

However Nigerians should be optimistic that the best will come from this and the price should keep reducing: thats my wish and let global price fall more so that we can think in Nigeria and use our numerous resources rather than one.

If there will be famine, we may think better and this may lead to masses revolting against looting: guess what can be the result of that?

Is that for real|? If it is true, then the FG is finally thinking in the right direction. Infact, it is long overdue

I think one of the huge frauds being perpetrated in Nigeria has to do with Petrol pricing. I heard the landing cost of Petrol was less than 40 naira in December so how did they arrive at 65 naira. is it because of Naira Crash?
By the way, have we seen that it is better for the refineries to be sold now even if it is to Dangote? At least we won't be spending money repairing refineries without getting any refined products.
we've allowed sentiments to get in the way of good decisions.
If anything, we should beg government to sell the refineries. Some of us think it's national property but I guess some other people know the real owners.

The 5 naira reduction is too small compare to the global fall of crude oil price,most countries reduce their own by average of 25%

its real insult, how a "govt" dta has enjoyed so much windfall from the high price, its only n5.00 that can be reduced what a shame.

I support the sale of one of the refineries to Dangote, He's doing a lot of good to Nigeria by investing here. Only that all political frauds will not do the same 'cos of fear of seizure of properties by next Government.

Well well well! This is the first time the price of a major product is coming down in Nigeria - I never believed it could happen so I'm goin to be positive this time around and not think that there's something fishy goin on.

Let us be real. They DO NOT have to reduce the price and nothing is going to happen. We Nigerians have a miraculous way of adjusting to pain.

It is truly a step in the right direction.

It actually rose to 70 naira?

I refuse to identify with those that will applaud the govt for the deceptive
reduction. #5.00 is insignificant compared to the global fall.
It could have been reduced by at least 30%.
Again, it shouldn't be petrol only,
How about kerosine and diesel?

Nigeria Govt. Oh! Oh!! Oh!!! What is wrong with the leaders. We the citizens need sincerity of purpose from all our leaders

Have the filling stations adjusted thier pumps? i am sure if it was upward review, no one would need to monitor them to adjust thier pump meters but am sure they would want to finish selling their supply now before adjusting and only God knows when they will admit to have finished selling the old supply of fuel.

This is the time for those NLC to take matters seriously, they won't,

Instead of them to break govt. neck to reduce it to something around N30, they'll keep quiet, later when the thing go up, govt. go say, sebi una see,

Right now, dem shut up dey look

If you know nothing about the issue, stop making unnecessary generalizations. Good lord!!!
65 naira is the ceiling price for this month. PMS has been deregulated.
Marketers can choose to sell at any price as long as it does not exceed 65 bucks. THey can sell for 64.99 or 63 if they wish.
The PPRA will serve as a watchdog to determine the monthly ceiling price so marketers don't make unwarranted profits. Government is no longer subsidizing pms.

Guess what, if crude oil jumps in the summer, petro will jump too. You asked for it and you got it.

Should have been reduced more than 65bucks

If petrol price in your area is NGN 65.00 then it is something you should be thankful to God about. As for us over here, when the price increased to NGN 70.00 we were buying it at NGN 100.00 at the Petrol Station so I don't know how they will sell it now that the price has decreased to NGN 65.00.

let's give it time to see if the directive will be effected

whats the benefit to nigerians if petrol is N20.00, yet not readily available, sometimes i begin to wonder how things work in this country, crude price declines everyday,yet you spend more than an hour at fuel stations, is there an embargo on importation?

yesterday I predicted N50/L. chk out the post

Could have done better but all the same well done

9ja ca never be satisfied. am not Ya"adua pro but how many govt. in \nigeria has reduce price of fuel before. May be Obasanjo did

I think this is part of his 7points agenda. up Ya'adua down PDP. this cannot be PDP Policy, i believed he has acted out of party (money monger) agenda

It's of no use reducing the price because the filing stations are going to adjust their metres such that you are still going to be getting the same litres of petrol.Too may insincere people in this country.Bunch of irresponsible leaders.The N5 reduction is being compensated by increase of Diesel by N13.50.That means the FG is gaining N8.50k.Also,the unnecessary devaluation of naira to the dollar is aint helping.SOLUDO,YARADUA etc are all deceiving us

I think this is part of his 7points agenda. up Ya'adua down PDP. this cannot be PDP Policy, i believed he has acted out of party (money monger) agenda

We do not rejoice because the price is now 65 naira. No, far from it. Rather our joy springs from the fact that for once our government is making a fuel policy that favours its citizens.
Of course implementation is going to be a thing to worry about, but lets rejoice first at this great news.

naija will get beta. it has to start from somewhere. favourable energy policy is one. lets hope for beta things to come.

A-town:

If you know nothing about the issue, stop making unnecessary generalizations. Good lord!!!
65 naira is the ceiling price for this month. PMS has been deregulated.
Marketers can choose to sell at any price as long as it does not exceed 65 bucks. THey can sell for 64.99 or 63 if they wish.
The PPRA will serve as a watchdog to determine the monthly ceiling price so marketers don't make unwarranted profits. Government is no longer subsidizing pms.

Guess what, if crude oil jumps in the summer, petro will jump too. You asked for it and you got it.

I smell trouble,this means the moment crude oil price rise by one cent in the global market petrol price in Nigeria will gallop,

So the federall govt. are jst reducing the petrol? more over Is that even a reduction? Reducing petrol price from 70 naira to 65, While other countries that has no oil reduced the price of petrol long time ago with not less than 40% reduction,

This is the first tym i am experiencing a reduction in the prize of PMS. Even say the % small, we still thank God. ''at all '' ''at all '' na im no good

Reduction in pump price is one of the President Yar'adua's 7 point Agenda

cvibe:

Should have been reduced more than 65bucks

65 bucks is just the Ceiling level. It is up to the marketers to determine what price will be profitable and still enable them beat their competitors. "economics"

Omovieme:

I think this is part of his 7points agenda. up Ya'adua down PDP. this cannot be PDP Policy, i believed he has acted out of party (money monger) agenda

Stop being ignorant. Don't turn this political. THe measure was taken by the PPPRA. They really didn't have a choice than to deregulate pms since the price of crude oil has been crashing. At the current rate of < $35, the govt does not need to subsidize pms, hence a full deregulation. They couldn't have done it in the past yrs because crude prices were very high. Let me point out something to all of you. The price of pms has not really been "reduced". The govt only did what they've been trying to do for several yrs (including obj's govt) which is to deregulate pms. The apparent reduction in price is simply because crude oil is now cheaper. Expect petrol to rise if crude oil rises. When the time comes, don't F!UCKING complain.

Omovieme:

9ja ca never be satisfied. am not Ya"adua pro but how many govt. in \nigeria has reduce price of fuel before. May be Obasanjo did

I am dissappointed that anyone can actually make the comments above. How many govts had the opportunity of experiencing the current economic dilemma coupled with the lowest crude prices in yrs. It has nothing to do with Yaradua. It is what any govt would do. If crude oil had remained above $50, the govt would not have been able to deregulate because pms prices would be higher due to lack of subsidies and it is people like you that will complain.

#5 make e no b lyk sey dem no reduce am at all