obailala:

Nigerians of course have a right to feel bad over harsh economic situations. But this increase you have here is just an effect of the govt no longer paying subsidies. Except your proposal is for the govt to keep paying subsidies, I'm not sure I understand what your blames are for.

Petroleum product prices in those other countries you talk about is not increasing because it has always been high; those countries have always had it deregulated and prices fixed based on market forces. I live in the UK, do you know how much I pay for a litre of fuel? £1.10 currently (and this is the lowest it's ever been , thanks to low oil prices). Pump price in Nigeria is one of the cheapest in the world even at N145, and this is because the govt always subsidises the cost. Whilst we agree that removing subsidy will cause hardship, if we must tell ourselves the truth, Nigeria cannot afford to keep paying subsidies. The only countries where the pump price is as cheap or cheaper than Nigeria are those mega rich oil producing nations like Saudi whose governments have a massive financial war-chest to even dispense petrol free of charge.

You live in the UK but you don't know how to make good analysis. Is the cost of living in UK and Nigeria the same? How about the minimum wage in both countries?Do you expect the price of a bottle water in UK and Nigeria to be the same?How about the cost of producing the bottle water in both countries...hope comparable? That's is why the pump price of petrol in UK will always be higher.In summary,N143 /litre is way high for average NIGERIANS living on a minimum wage of N30,000,sorry,some states have not implemented the new wage.ECONS 101.

juvewalex:
Has oil price increased in world market or what's the local oil price increment based on if this report is true.

One will never understand Nigerian government and all these oil marketers with their dubious way

Yes it has actually. When petrol was reduced to N123, crude had fallen to $20 and now its back up to $41.

Jetline:

You lived in the UK but you don't know how to make good analysis. Is the cost of living in UK and Nigeria the same? How about the minimum wage in both countries?Do you expect the price of a bottle water in UK and Nigeria to be the same?How about the cost of producing the bottle water in both countries...hope comparable? That's is why the pump price of petrol in UK will always be high.In summary,N143 /litre is way high for average NIGERIANS living on a minimum wage of N30,000,sorry,some states have not implement the new wage.ECONS 101.

The issue should actually be the wages in Nigeria not the price of petrol.

I've always said that if I were president of Nigeria,I'd sack 50% the civil service ,but double salaries for the remaining. Nigeria needs a vibrant middle class.

There is not point if 1mln people are earning N50k. Its better if 350k people are earning N150k. Because their purchasing power can attract industry.

One reason Toyota,Samsung, LG, etc can never produce massively in nigeriabis because there are not enough people to buy their products.

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!

Because the subsidy was far more then. Don't you get it!! Besides don't forget that naira has also devalued by about 100% from 199 to 400

So, instead of going down..... the price is scaling up again and things keep being hard for some people.... it's not funny.

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 ?

Govt didn't remove subsidy the first time. When crude prices crashed then, the import price was lower than pump price. So for that period government was not paying any subsidy. Doesn't mean they removed it. But when crude prices went back up, subsidy came through the back door again.

Kriss216:
So, what will now happen to the small N300 fuel wey I dey manage for my I pass my neighbor generator now

the gen got you covered like electricity insurance because you'll be expecting 5-6 hours of power

Nigeria jaga jaga, buhari jaga jaga

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

Managing the.money is a separate issue. What you are saying is like two wrongs.

And reason why govt gets away with it is because we are all docile. Only George Floyd was killed and the whole America rose up.

Yet our politicians commit far worse atrocities, but we all sit down and hope for our own opportunity to be as corrupt as them

DAVE5:


99.9% true, but that 0.1% chance fit cut our polithieves-cians ticket one day, and when e happen, e go red everywhere

Funny though.

Actually, I wish it could, but truth is we are too divided on parochiality (religion, ethnicity, etc), to allow such sensible "movement" against the thieving political class.

kitsall123:


I understand you.

However, if this was the case alot of companies will not be dabbling into petroleum import.The subsidy payment makes the business profitable.

You need to know the racket and what it takes to get a petroleum import license.

Secondly if our refineries were operating at 60 to 70% capacity then it wont be a so much big deal if govt pays subsidy on import of about 30 to 40%.

If the govt was fair then they should have just giving multiple coy the license to operate modular refineries.But again,we have placed all this on the lap of one man.

We just keep going round in circles.

God help us.

Don't you get it. Many people have refinery licences, but it makes no sense because our regulated price is TOO LOW!!!!

COMPAQ:


Managing the.money is a separate issue. What you are saying is like two wrongs.

And reason why govt gets away with it is because we are all docile. Only George Floyd was killed and the whole America rose up.

Yet our politicians commit far worse atrocities, but we all sit down and hope for our own opportunity to be as corrupt as them

look im not docile.. The law didnt permit me to carry arms. I didnt vote this government but some people did may be because of kongo of rice and 5 naira. I saw what they did in first term so i wanted a different government

Fourwinds:
look im not docile.. The law didnt permit me to carry arms. I didnt vote this government but some people did may be because of kongo of rice and 5 naira. I saw what they did in first term so i wanted a different government

Who said anything about arms. Did anyone protesting in Yankee carry arms.

If Femi falana calls for one million man match to nass , he'll be lucky if 100 people show up.

COMPAQ:


Don't you get it. Many people have refinery licences, but it makes no sense because our regulated price is TOO LOW!!!!

so how will people survive when they buy a litre of fuel for 500 naira and above. Consider transportation. If you are earning welll and living fine. Know there are thousands and millions Nigerians that didnt eat two times today even some didnt eat. Will they no move(travel) a distance of 6km within their state. Do you recommend trekkin for such distance almost every day

Oga,
Nigeria's Oil is 3 months future purchases.

It's not supposed to take effect immediately but in 3 months time.

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.

Fourwinds:
what is wrong with the paragraph

The last paragraph of that my comment you originally quoted....

I'll repeat the point again

If you want Dangote to pay higher salaries to his workers , then get your senator or rep to consider a law that allows cement workers working for Dangote cement to form a union that would agitate for their rights, or if such a union exists, then pass a law that would raise the minimum wage, and make it mandatory for the private sector.

the real test will come when crude process go up past $50. At that price petrol should be like N170. We'll see if government has the liver to take petrol price that high.

COMPAQ:


Who said anything about arms. Did anyone protesting in Yankee carry arms.

If Femi falana calls for one million man match to nass , he'll be lucky if 100 people show up.

having people to march is not the problem . It is the same Nigerians that will insult those who are prepared to do it. Remember BBOG

Fourwinds:
so how will people survive when they buy a litre of fuel for 500 naira and above. Consider transportation. If you are earning welll and living fine. Know there are thousands and millions Nigerians that didnt eat two times today even some didnt eat. Will they no move(travel) a distance of 6km within their state. Do you recommend trekkin for such distance almost every day

The solution to that is that wages need to go up. And that's why Nigerians should rise up instead of being docile. We should stop begging for the crumbs of subsidy and demand wages that enable people to eat at the table.

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

Forget Nigerians; they are strongly built for suffering.

ProT:

Funny though.

Actually, I wish it could, but truth is we are too divided on parochiality (religion, ethnicity, etc), to allow such sensible "movement" against the thieving political class.

Sad but true

Fourwinds:
having people to march is not the problem . It is the same Nigerians that will insult those who are prepared to do it. Remember BBOG

Then that is our problem. Then if we can't confront the real issue then no point complaining. We have been bound to the philistines and instead of doing something about it, we don't.

kikero:


The last paragraph of that my comment you originally quoted....

I'll repeat the point again

If you want Dangote to pay higher salaries to his workers , then get your senator or rep to consider a law that allows cement workers working for Dangote cement to form a union that would agitate for their rights, or if such a union exists, then pass a law that would raise the minimum wage, and make it mandatory for the private sector.

you talk about lawmakers i laughed. What came to my mind was thieves. Just think about how Dangote can corner them with some Ghana must go

Fourwinds:
you talk about lawmakers i laughed. What came to my mind was thieves. Just think about how Dangote can corner them with some Ghana must go

Democracy is hardwork.

It isn't about voting and going home.

All those prosperous democracies were built in part by people who were willing to take on the corrupt elite.(some of whom, from a historical perspective, make Nigerian polticial elites look benevolent).

Democracy is hardowork. TO make it work, we must work hard with the system. within the system

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.

The great defender. Apc pro. continue.

rejoice4eva:
The great defender. Apc pro. continue.

Defender of What? information? I just shared basic information; how's that a crime?

Oh I see! knowledge must hurt you so badly, that explains your discomfort. Education Haram! Low key Boko haram ideologist!

Jetline:

You live in the UK but you don't know how to make good analysis. Is the cost of living in UK and Nigeria the same? How about the minimum wage in both countries?Do you expect the price of a bottle water in UK and Nigeria to be the same?How about the cost of producing the bottle water in both countries...hope comparable? That's is why the pump price of petrol in UK will always be higher.In summary,N143 /litre is way high for average NIGERIANS living on a minimum wage of N30,000,sorry,some states have not implemented the new wage.ECONS 101.

I said Nigeria has one of the lowest pump prices for petroleum products globally. That's a simple statement of fact! No where did I mention that N143 was affordable for an average Nigeria; that's a totally different topic, so please learn to stay focused.

Lush100:
Oga,
Nigeria's Oil is 3 months future purchases.

It's not supposed to take effect immediately but in 3 months time.

Are you saying the petrol we buy in filling stations in Nigeria were imported 3 months ago? Cos you seem to be mixing crude sales and petrol import.

OhBiafra:
Mumu

okoko

Nigerians have refused to react preferring BBN, EPL, fear women, religious gatherings, so no qualms. Labour is licking tom tom.

nextstep:


Revolution is not necessary... the population has the opportunity to change their leaders, every 4 years. If people can't be bothered to choose leaders based on their capabilities now, what makes you think revolution would change anything? It would just be a different, violent way to pick mediocre leadership.

All we need is for the under-40 population to get their heads straight. They are the largest voting bloc in this country, yet they abscond on their responsibility to nominate, promote, and elect good leaders. The last election had the likes of Sowore, Chike Ukaegbu, Donald Duke, Fela Durotoye, yet none of these got up to 1% votes.

When people, especially youths, complain bitterly about bad leaders, I can't help but feel angry. They have the power to choose, yet refuse to do so.

I agree with you but how best do we sensitise and orientate our youths so that we all can be on the same page? Got any idea on this?

ProT:

Forget Nigerians; they are strongly built for suffering.

I tell you. This drives me mad at times to see how we suffer everyday yet no solution on ground or hope in sight. Damn, something needs to be done.