obailala:

Of course that's what subsidy removal is all about. What exactly is dubious or shocking or confusing here?

Over a month ago, oil sold for about $20 and pump price was reduced to N123. Now oil price has risen over $40 and pump price has increased. If oil price rises further to say $80, pump price would surely rise again, except we want govt to resume paying subsidy.

The title of this report is actually misleading; government didn't increase oil price, rather pump price has just increased in line with global oil prices.

SmartProf:
These are all evidences of when a government decides to punish it's people. Of what benefit is it to Nigerians that we are an oil producing nation? Meanwhile most of these top shots in government don't even use their monies to fuel their vehicles o, it's our national budget that fuels their vehicles and generators...what a shame!

kikero:


1.We don't have enough refienreis because subsides keep prices too low to make having a domestic refinery profitable. (which is why when Dangote finishes his refienry, which he took a heavy loan to build , prices either go up or it runs at a loss.

2.I'm not in government, so I do not give licnences to cronies to import fuel, plus all that ended when Buhari made NNPC the sole improter of fuel in 2017. (and paid off outstandig subsidy claims)

3.It is not a matter of fixing the refienries. According to NNPC it costs N165 to refine one liter of fuel domestically. We are selling it at N143 NOW. That means anyone building a refienry is going to sell at a loss.

As a matter of fact, govt has given 61 people licences to build refienries since 2011, and less than 10 are building.

You cannot refine fuel at N165 or more and sell it at N143 and expect to have funds to keep up your refienreis. Plus, now that NNPC is solely importing fuel, it is incurring a loss annually paying for keeping prices low. How do you expect them to get money to pay for refineries...when it is all going down the subsidy trap.??

Bluntemperor:


But you failed to name the Nations that have quickly increased Prices after Covid-19 reduction? Your analysis is biased against Nigerians.Are you saying that Nigerians don't have right to cry foul for Govt small reduction in prices after Global Oil fall?
This is a reap Off in NNPC and their PPR that are being staged managed affairs.While other Nations were making substantial reduction in prices of PMS,Nigerians are being fooled with insignificant reduction at home. No wander, the NNPC AAand it's associate can't breakthrough!

kikero:


I think that's what Nigerians want. Free petrol.

Infact if government reduces the thing to N40 per liter, Nigerians will bless them and thank them, and APC will win in 2023.

Of course by the time the petroleum industry breaks down because they would be running at a massive loss as a result, plus the fact that we would be in serious debt to pay the subsides that result from keeping prices down....

Inasmuch as people would insult me, oil subsidy must go. Nigerian government must stop controlling prices of petrol. So that we can have more investment, more savings, less loan taking, and crucially, more jobs and refinereies, and a better economy.

If government had subsided GSM from the word go to the point that we pay N2 per minute.....I would have been typing this from an internet cafe, with a snail speed internet...like the good old days.

lexander:

I thought the president promised during his campaign against Jonathan that he won't pay subsidy and that's why PMS was been sold for 143 naira ever since he entered Office.... So why am I now hearing about he has removed subsidy ? Is it possible to remove subsidy again after you've removed it the first time ? If he has just removed it then why was the price of petrol increase by almost 80% in his first term of ruling ?

cjrane:


But crude oil price is at about $40 dollars/ barrel!

We paid N97 naira for a litre of petrol when crude oil price was $120 dollars/ barrel. Now that the price has reduced to $40 dollars/ barrel, we are paying almost double for the product?

Pure wickedness on the part of the government!

ajebuter:
watch the stupid marketers increase the pump price sharp sharp

But if it is reduction of pump price, they will claim they must finish selling the old product

Awon Alayebaje

cjrane:


But crude oil price is at about $40 dollars/ barrel!

We paid N97 naira for a litre of petrol when crude oil price was $120 dollars/ barrel. Now that the price has reduced to $40 dollars/ barrel, we are paying almost double for the product?

Pure wickedness on the part of the government!

bigfish3k:

So you believe this government refining fuel at N165.
That means it's cheaper to import than to refine here
Hope you have read what is on social media where nigeria produces crude at $23 while other countries are producing at $3
Our country is fraud

kikero:


Yes, they have to because most marketers have to pay staff, have to invest in their facilites, and also have to create jobs too.

And when government keeps the price of petrol low, they can't do all that.

That's why the marketers must set the price. So that they can make big money which they will invest in more jobs, and more facilities, and meanwhile the money we spend subsidsing fuel can be redirected to education and health.

Fourwinds:
sometimes i wonder how you people to make comments without giving the pros and cons.. Now you are talking about saving. Where does the saved money go? Private pockets. Tell me how has Nigerians fair from this oil which is God given natural resources.. Everything looted. Just like a man who married a woman that suffered with him until he became rich and he decided to spend the money on side chics. That is the senario of Nigeria government(looters) and its citizens

Fourwinds:
nonsense comment.. There is no marketers that have interest of the work force at heart... They are explotative. You speak as if some of us are not in Nigeria. A fuel attendant is paid peanut. Go to Dangote cement factory the workers dont earn well but he keeps getting richer... Nonsense. Who you wan deceive

Bluntemperor:


But you failed to name the Nations that have quickly increased Prices after Covid-19 reduction? Your analysis is biased against Nigerians.Are you saying that Nigerians don't have right to cry foul for Govt small reduction in prices after Global Oil fall?
This is a reap Off in NNPC and their PPR that are being staged managed affairs.While other Nations were making substantial reduction in prices of PMS,Nigerians are being fooled with insignificant reduction at home. No wander, the NNPC AAand it's associate can't breakthrough!

kikero:


And why is the saved money going to private pockets?

Because honest Nigerians like you and me refuse to do the hardwork of democracy..ie putting pressure on elected leaders to run a fair government.

We just vote and then go home. Finito.

All sucessful democracies are sucessful because people over the centruies put pressure on their governments to do the right thing. Some people even died in the process. As a result, their descendants have a better standard of living.

Blacks in America live far better than they did 100 years ago because many of them used their demcratic rights to agitate for better. And many of the fighters knew that they won't live to see the fruits of their labour. But they fought.Some suffered heavily, some even paid the ultimate price.

Here in Nigeria, we mock such people(good example Sowore) because we don't want to accept that democracy is good hard work. So we laze around on Nairaland, while our poltical leaders keep on chopping.

SmartProf:
These are all evidences of when a government decides to punish it's people. Of what benefit is it to Nigerians that we are an oil producing nation? Meanwhile most of these top shots in government don't even use their monies to fuel their vehicles o, it's our national budget that fuels their vehicles and generators...what a shame!

obailala:
Oil price has risen over $40, what were people expecting? Govt to pay subsidy again?

kikero:


A fuel attendant is paid peanuts because that's all their marketers can afford at current prices.

We are selling fuel below the prodcution price, and you expect the marketer to have cash to pay his workers.

If you were running a shop selling shirts at N5000 after buying them at N2500, and then government comes and forces you to sell your shirts at N2000, while paying you N300 for every shirt sold, where is the profit that you would make.?How would you pay your workers adequately? How would you run your business??

That's what we have been doing to the peroleum sector, and why it is not growing.

If you want Dangote to pay his cement workers better, get your senator to pass a law guaranteeing that Dangote cement workers can form a union to agitate for better rights.

Fourwinds:
i just made mentioned of Dangote cement factory. Does the government control the price yet go and find out how much they are paid. Even oil companies have a lot of casuals not just to keep the big guys at the top perpetually feeding fat

Jahwinaboy:
Revolution now, we don't want to align together. On this platform some persons are encouraging us to STAND UP and many are not interested. We are doing ourselves more harm than good by Keeping Quiet

kikero:

See the last paragraph.