Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

How long can you keep up with this self deceit?.
Well, you know your league. League of people with gullible minds....

APC with their silly style of DAMAGE CONTROL.

OP get a copy of Kachikwu‘s press release lets see what is written in it.

APC IS A DEMON CONTROLED PARTY.

Always double tongued.

OP you are right but dont expect wailers to listen to you. They dont care whether there is subsidy or no subsidy or whether fuel sell for N20 or N500, there own is to sow the seed of hate and destruction. Shikena

Rubbish thread !

APC will soon send lie Mohammed to declare that the removed subsidy has been channeled to provide masquerade jobs for the zombies as palliative measures.

Double mouth!

Doing everything possible to deceive the masses!

Kachikwu has done his own!

Lai Mohammed too has done his own!

Now. Jaspan's turn!

Continue!

Wish you understood the basics of economics.
The attendant consequence of marketers sourcing forex from the parallel market is catastrophic.
Simply put, the price of $$$ is going to exceed 500 Naira in a very short period and I'll explain why.

When the marketers hit the parallel market, a demand pull would be created and the price of $$$ would begin to rise. Two things would happen. 1)Genuine Forex users would begin to purchase more than they require so as to safeguard against high prices. 2)Speculators would flood the market to profit from the resultant volatility.

The consequences would be dire as the price of $$$ would become ridiculously uncontrollable. Prices of goods would keep going up. Terrible inflation.

We have a government in power without a single economist. The country is officially in trouble.

I don't even want to include the fact that more than half of our oil production has been shut in. The months ahead would require a new set of handlers(people with brains) to manage the impending catastrophe brought about by the ineptitude of Buhari and propaganda crew.

They will not like this. gullible pple that are not seeing anything good frm this administration. Apc also should have come out in plan language and explan this thing to the public period

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

Thank God i was able to print a copy of this balderdash of a thread and used it to clean my nyash

Else I wouldn't have forgiven my self for viewing such a thread

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

From N87 to N145 overnight?

And you come up with so much blablabla?

And we should just accept this as our lot since it is coming from Buhari and we should just understand , shebi?

Bravo..

What nonsense did I just read ..do u think we are dumb

What a load of crap!!!

that's the problem with you guys..you always try to play with the minds of the gullible!..

Are you telling me that..VP Osinbajo isn't part of those or isn't he aware of the whole thing.. or did Kaichukwu just come out on his own to make the declaration and announcement??...

Come on..we're now wiser..When you shitttholes are done with this unwarranted and shameful propaganda.. inform us so that we can deliver to you all the symptoms of economic neurosis...

Yhu peepu shuuuud Kontinu... one big eye is watching..

@samobaba
the parallel market rate is 60% not 37%
more than the official rate.
Moreover it is irrelevant whether subsidy is removed or not
the effect of PMS price increase from #86 to #145 is the same.

PapaBrowne:
Wish you understood the basics of economics.
The attendant consequence of marketers sourcing forex from the parallel market is catastrophic.
Simply put, the price of $$$ is going to exceed 500 Naira in a very short period and I'll explain why.

When the marketers hit the parallel market, a demand pull would be created and the price of $$$ would begin to rise. Two things would happen. 1)Genuine Forex users would begin to purchase more than they require so as to safeguard against high prices. 2)Speculators would flood the market to profit from the resultant volatility.

The consequences would be dire as the price of $$$ would become ridiculously uncontrollable. Prices of goods would keep going up. Terrible inflation.

We have a government in power without a single economist. The country is officially in trouble.

I don't even want to include the fact that more than half of our oil production has been shut in. The months ahead would require a new set of handlers(people with brains) to manage the impending catastrophe brought about by the ineptitude of Buhari and propaganda crew.

The moment buhari started avoiding even his saint ministers that took him 6 solid months to assemble you should know the type of medieval minded president we have. That chronic zombies still cheer and expect differently from Buhari is most pitiable. Buhari has to be forced out cos he don't care as long as his kids can still afford first class tickets to go and greet the fantastically corrupt David Cameron.

Strike for many civil servants just indicate a well deserved holiday at home burning petrol to watch Channels TV.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

This is complete bullshit

Whatever help b it financial or otherwise dt D Govt gives oil marketer to ensure fuel sells at 87 represents subsidy so all u wrote up there is a total nonsense.

D strike shld go on but shld b abt wage increase to 56k

APC experts in lies n deceits but I kw Nigerians are better enlightened.

Giving oil marketers foreign exchange at reduced rate to ensure Nigerians buy fuel at 87 means subsidy BC Govt pays d balance n this shld b easy to understand by any sane mind.

PapaBrowne:
Wish you understood the basics of economics.
The attendant consequence of marketers sourcing forex from the parallel market is catastrophic.
Simply put, the price of $$$ is going to exceed 500 Naira in a very short period and I'll explain why.

When the marketers hit the parallel market, a demand pull would be created and the price of $$$ would begin to rise. Two things would happen. 1)Genuine Forex users would begin to purchase more than they require so as to safeguard against high prices. 2)Speculators would flood the market to profit from the resultant volatility.

The consequences would be dire as the price of $$$ would become ridiculously uncontrollable. Prices of goods would keep going up. Terrible inflation.

We have a government in power without a single economist. The country is officially in trouble.

I don't even want to include the fact that more than half of our oil production has been shut in. The months ahead would require a new set of handlers(people with brains) to manage the impending catastrophe brought about by the ineptitude of Buhari and propaganda crew.

Spot on

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

Have the price of diesel come down following competition?

I don't support an insensitive and corrupt government Who's interest is to build economic statistics at the expense of the masses. This same government was telling us that people live below 1$/day. This year alone, the economy have been tough. Low purchasing power.

Let's stop being insensitive. Salaries are not being paid like before in some states. What about pensions. Have you talked about them.

I know those who have for nothing, condemned themselves to protecting buhari at all cost, feel compelled to do so; but have you all lost your souls because of politics?

Who have bewitched you all. Can't we just say No! ? You think when the cost of living hits the roof, the federal government will start dashing out money on the streets? Have you all lost your conscience? what has happened to the humanity of Nigerians. Haba.. At this rate whatwhat do you want those who lost their jobs to do. This is evil.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

Thanks Jasper. White enlightening.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

continue deceiving your self

Mbok, is there gonna be holiday for that day and probably the remaining work days in that week

I don't mind

when drum beats change dance steps also change, I don't understand how people expect things to go on as if Nigeria income still remained the same. People that are been paid half salary, has things remained the same in their households like when they were getting their full salaries?

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

please go and sleep. ..am very sure ur feeling sleepy.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

Op pls go get a job. Dis pay per post you are taking won't help u in life. So only you and Osibanjo is saying there is no subsidy removal. You know u gullible and myopic APC don't reason b4 talking rubbish. Did u listen or read Kachikwu's press release? A fool at ur age if a fool 4ever.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

Oga Jasper, your math is very SORRY. Please, go and ask for refunds.

This should have read:

"The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 61% (320-199/199 × 100 = 60.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an average of #145 which is an increase of 38% (145 - 86.5/86.5 ×100 = 67.6%)". The increase was 68% and not 38% as you are telling us.

To the topic, you are talking nonsense because subsidy has always resulted from the value of Naira versus $$. The government created the widest dual exchange rate on earth from inception. If they allowed $$ to take its proper value all the while, you would not have created a situation where u have a gap of 68%. Have you asked yourself in which economy world over operate a wide exchange difference of about 68%?

Please, stop trying to justify incompetence, mediocrity and cluelessness in governance!

Zombies

av we all tot abt d fact dat every govt dat comes into power always clamour 4 deregulation.y cant we just give it a chance 1st and lets see if d problem of dis fuel issue wld be solved.i fink d labour union is one of d major problem in nigeria.all dis looting of funds wldnt av been possible if d civil servants did not aid dem.i wld rather suggest,instead of protestn against d increament dey shld rather force d govt to place a capital punishment on any body found guilty of corrupt practice.wt dis law in place,it will even chekmate d mkters of dis fuel too.May God help us

Believe me !! OP **** what ever their reasons are I don't bloody care !!! they are callous, ungrateful ,money chopping fools and **** thanks you very much and God ........ u

Nice write up... But thus is what we need

If independent marketers source for dollar at secondary market they can sell at #145 per litter, but Nnpc that get dollar at official rate while selling above 86 naira? Pls educate me

@samobaba, isn't providing forex for oil marketers a form of subsidy in itself?

with just dollar rise things are already expensive and with this more black market demand would push up dollar rate and things would be 'more' expensive. i wish the yuan swap deal would be hurried to reduce dollar demand