Buhari promised to reduce fuel price to 40 naira/litre.
But it is now #120.
To all those who were swayed by his phantom promises , I hope you
are enjoying the change one chance.


Believe Buhari at your own risk.

Young03:
Sooner or later

it shall be well

BELIEVE

LOL. We have modified our mantra from CHANGE to BELIEVE....

Nigerians in a one chance thing....

We were promised N45 oh!

*bros r u singing bob marley? Cuz dis bu-marley wan put pesin 4 thinkers corner

Poddy:
everything is gonna be owkay...right?

Even in nnpc filling station in fagba,agege,lagos state

OK



























































































IN GEJ I TRUST

BUHARI AND CO

nunzk:
*bros r u singing bob marley? Cuz dis bu-marley wan put pesin 4 thinkers corner

at all

In 2013:

Fuel subsidy is fraud - APC

Nothing like fuel subsidy - Buhari

Now in 2015 and with the current fuel scarcity, it will be nice to hear what Buhari and APC's liar Muhammed have to say about fuel subsidy.

The lesson here is that it pays to be truthful all the time

psucc:
But Buhari's allies like David-West promised us its going to be N40.00 per litre.

If you believed that then you are as dumb as a door knob. You can't regulate the price of gas in a free market economy. market forces determines it

Our forefathers are to be blamed for all these ... I'm sure they have offended some gods or so. I Transport fares are now in doubles since Friday.

Its very easy to criticize from outside without the details available.


I remember a former minister promise fuel will sell at 40NGN per litre.

Another former CBN governor claim 2trillion or so was mismanaged in a pull-him-down essay.

Now, its over a month, bring the ideas to actualize your claims and they're no where to be found.


Only an Oshiomole, who's from my state, who achieved terribly below expectation (the only reason people think he achieved much was coz his predecessor was a demon), he own one of the best houses in Asokoro and now he's running a personal vendetta against Okonjo. A committee chairman, judging on the pages of newspaper before gathering facts-what a shame! If she's guilty, crucitlfy her, But not before

Ok o! But if by chance we end up there keepa seat for me cuz I'll do d same so we can chant together. Stagnation is bad and this squabe in the ruling party nis not helping usquote author=Poddy post=35500478]at all[/quote]

What is the reason for the scarcity of fuel?

Wat buhari said I'll sold 4 #60 a week aft his swearin in.......west germany mallam

By now we ought to b buying petrol @ 40 per liter since subsidy is a scam.

#Babaunderyourwatch# boko have gained strength and killed almost 500 people in one month. #Babaunderyourwatch# fuel scarcity have resurfaced again and fuel price increased. #Babaunderyourwatch# 1 dollar have increased to 230naira.

Very soon buhari will bring down the price, after stabilizing world oil price. Right now buhari is courting investors from west germany as regards fuel crises.

if there is no fuel it would be accepted that there is none but to sell fuel that has been subsidised at higher prices begs to ask if the dpr task force boss is serious with his/her duties.

Meanwhile one lame government claims to be paying subsidy o yet no government regulated price. Selling at any price after claiming subsidy is daylight robbery and everyone that can seems to rape Nigerians with ease.

Matttthew:

Leave them haterz
They keep hating n








Discriminating Baba (DB)









But we don't care












Cos Baba is working without a loudspeaker unlike Jonah.












In Baba we Trust Still.

U need help

glimpse33:
keep calm &


Believe in Buhari (BIB)

A dullard who knows NOTHING





www.nairaland.com/attachments/2589504_subsidy2_jpeg57ea79bc1f8758353f00f8db1d53dbf1

teemy:
if there is no fuel it would be accepted that there is none but to sell fuel that has been subsidised at higher prices begs to ask if the dpr task force boss is serious with his/her duties.

What DPR Task force boss?
Don't we have a president who is responsible for ALL our woes and promised to fix them all like the messiah his mumu followers claim he is





www.nairaland.com/attachments/2507746_dullard_jpegc97c9c076c74a122940afb01c79edee8

Matttthew:

Leave them haterz
They keep hating n








Discriminating Baba (DB)









But we don't care












Cos Baba is working without a loudspeaker unlike Jonah.












In Baba we Trust Still.

B4 d elections & even last week this post would have gathered up to 497likes & 78shares but now na only 1like dey there and maybe na only you like your tin sef....people eye don dey open...

Why is this still a story to Nigerians. Are people not better informed yet, or are we cursed to remain forever clueless about fuel prices, and the reality of where it's going?

Let me do my best to spell out the current situation, and the very likely outcome.

The current landed price of PMS in Nigeria is N119. The government insists that it must be sold at N87. Therefore, to persuade ANY marketer to do that, they must subsidise the cost of importation for them. Hence the fuel subsidy.

However, the fuel subsidy is a massive fraud on the Nation, and fully 40% of all subsidy payments are fraudulent. This is a FACT, let's just say I know more on this subject than most.

The subsidy is also destroying Nigeria in several major and critical ways:

1. It's bankrupted the treasury
2. It's acted as a heavy disincentive for private investors into oil refineries, because, for obvious reasons, fuel marketers will prefer to import and steal from the government than buy from local refineries at lower cost.
3. Demand for USD driven by the importation of PMS accounts for 80% of all USD demand in Nigeria. This is what's causing continual pressure on Naira, and hence, the slide to N230 to $1 on the parallel market.

Cause of Current Fuel Scarcity

The government has refused to pay any more subsidy to marketers, who have in turn refused / are unable to buy any more product overseas, because their banks refuse to lend them more money. As a result, the nation is running short of supplies and will run out of fuel completely in 3 weeks if new supplies are not made immediately.

The fact is, the government will not (and should not) pay any more subsidies to them. They will instead (I seriously hope) focus on resurrecting refining capacity. So what happens in the meantime? Well, it's fairly obvious. The restrictions on selling price of N87 will be lifted, and marketers will be able to charge whatever they like, like any REAL business, not a Government aided and supported basket case.

The current landed price per litre is N119, but is expected to rise sharply due to the continued fall of the Naira against Dollar. I therefore expect prices to increase sharply over the next 3 to 6 months, to somewhere in the region of N130 - N160 per litre on average. This it what the TRUE price of PMS should be, and when the government subsidy is removed, that's exactly where it WILL be.

With luck, as oil refining capacity increases again (Dangote's 500,000 barrels a day plant is due to become operational by Q1 2017), we should see a gradual decrease in pump prices, to somewhere in the N110 - N120 per litre range.

Long Term Solution

Nigeria is hopelessly addicted to PMS, largely due to the power crisis. It's very noticeable to any Nairalanders who travel overseas frequently that you don't see anywhere near the number of Filling Stations that you see here. I have observed this extensively in USA, UK (where I was born and raised), and most recently, in China, where I was just 2 weeks ago. Bear in mind that these are far far more developed countries than Nigeria, with much larger economies, who's fuel demand should therefore be commensurately larger than Nigeria's.

Evidence of this is as follows - 65% of all PMS demand in Nigeria is to fuel generators, not cars. Ask yourself the simple question - how many litres do you buy daily for your generator versus your car, and this fact should become obvious to you.

The solution to this madness is to crash the domestic demand for PMS, by eliminating the need to use it to generate power in our homes and businesses. We do this by a wholesale switch to renewable energy sources such as Solar Power, to power our homes and businesses. The technology is readily available, and tried and tested, even here in Nigeria. There are approximately 5,000 homes and businesses right here in Nigeria that already have guaranteed 24 hours power supply through Solar Energy.

The challenge is to rapidly scale that across the estimated 100 million homes and business structures that currently use generators every single day for power. Major plans are afoot to make this happen, and I will confidently predict that within 5 - 7 years, generator usage, particularly in homes and small businesses, will have largely been eradicated.

Regards

Uvie

I will diskwos world oil frice with President Michelle of West Germany and my Commissioner, Osunbade will sell fuel to you at N40/litre. Subsidy is scam. No money in the treasury, but Nigerians will change $1 to N1.

Once Military relocates command centre to Maidugri, boko haram will disappear. Because they are mere pdp thugs.

glimpse33:
Then relocate to Burundi

Or western Germany....

I can vouch for PMB.....all these will soon be a thing of d past #WeBelieve

ednut1:
Melo melo lafewi, melo melo lafeso. we go survive as usual. Pa Igbin needs time tho. bt the problems are too much to the old man to handle

You wicked o. Which one be pa igbin again.

mrsefan:
soon it'll still increase and it'll start affecting thinz like network n thinz that matters

ofcos, if we import fuel with he rate the Dollar is rising, then we are doomed.

Nah wah
Y so expensive with all dat oil ... Buhari should do something about this
Fuel business is getting out of hand haba 2015 n ppl sitting on floor A whole Giant of Africa..

Aminat508:




Source:http://www.punchng.com/news/nigerians-buy-fuel-for-n120-per-litre/

KANO IS 95 PAR LITRE