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PMS Price Now N170 Per Litre. - Politics - Nairaland

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PMS Price Per Litre In Nigeria & Some African Countries - StatiSense / NLC To Commence Nationwide Strike On Wednesday, If PMS Price Isn't Reverted / Petrol Price Now N151.56 Per Litre ― PPMC (2) (3) (4)

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PMS Price Now N170 Per Litre. by EgusiSoup: 9:15pm On Feb 14, 2021
I observed pump stations in Portharcourt have updated the prices on their pumps to N170 per litre.

How is it in your area?
Re: PMS Price Now N170 Per Litre. by Johnnyessence(m): 9:37pm On Feb 14, 2021
EgusiSoup:
I observed pump stations in Portharcourt have updated the prices on their pumps to N170 per litre.

How is it in your area?
this is buhari next level of governance.

1 Like

Re: PMS Price Now N170 Per Litre. by just2endowed: 9:39pm On Feb 14, 2021
On Monday, we will get the full gist
Re: PMS Price Now N170 Per Litre. by Officialgarri: 10:10pm On Feb 14, 2021
I got it 175 today..
Re: PMS Price Now N170 Per Litre. by Pointblank09(m): 10:56pm On Feb 14, 2021
EgusiSoup:
I observed pump stations in Portharcourt have updated the prices on their pumps to N170 per litre.

How is it in your area?

Re: PMS Price Now N170 Per Litre. by Okwyjesus(m): 11:13pm On Feb 14, 2021
EgusiSoup:
I observed pump stations in Portharcourt have updated the prices on their pumps to N170 per litre.

How is it in your area?

N200 is my benchmark.
Re: PMS Price Now N170 Per Litre. by Nobody: 5:37am On Feb 15, 2021
Poor revenues from crude oil means lower amounts for subsidizing fuel

So the money for spending on subsidy goes down and the price of fuel goes up.

All in all, if Nigerians had allowed the 2012 price increase from 65 to 140 naira to stand may be we would have had more refineries and lower prices by now.

This current government was in the lead in styming the 2012 increase . Now they are reaping the benefits.

Either way oil sibsidy must go.We can no longer afford it.
Re: PMS Price Now N170 Per Litre. by iokpebholo: 6:41am On Feb 15, 2021
Where is dt shameless helinus and d grills clown..Come and see ur darling daddy doing wonders
Re: PMS Price Now N170 Per Litre. by olisaEze(m): 6:44am On Feb 15, 2021
The funny thing there is that no country serious about the welfare of its citizens allows market forces to determine the price of petrol. How much more a nation that is totally dependent on it. Even an imbé will perform better than buhari and his gang of illiterate terrorists!
Re: PMS Price Now N170 Per Litre. by EgusiSoup: 7:03am On Feb 15, 2021
olisaEze:
The funny thing there is that no country serious about the welfare of its citizens allows market forces to determine the price of petrol. How much more a nation that is totally dependent on it. Even an imbé will perform better than buhari and his gang of illiterate terrorists!

Where is the NLC and TUC? They are always reactive.
Re: PMS Price Now N170 Per Litre. by Yellowplantains: 7:04am On Feb 15, 2021
It keeps going up
Re: PMS Price Now N170 Per Litre. by olisaEze(m): 7:05am On Feb 15, 2021
EgusiSoup:


Where is the NLC and TUC? They are always reactive.

Those ones are busy trading favors with the Fg. Ayuba Waba is the worst NLC President this country has ever seen!
Re: PMS Price Now N170 Per Litre. by Nobody: 7:28am On Feb 15, 2021
olisaEze:
The funny thing there is that no country serious about the welfare of its citizens allows market forces to determine the price of petrol. How much more a nation that is totally dependent on it. Even an imbé will perform better than buhari and his gang of illiterate terrorists!

Well, that's not necessarily true.

The problem with Nigeria is that the money for subsidisng fuel comes from the revenue we get from...oil...which since 2014 has been on a downward trend, and even when the times were good...2011-14, we still did not have enough cash to keep prices down


Infact, allowing the market to control the price could lead to...more revenue, more investment, more refinereis, more jobs, and more savings for government which can be used for.....the people's welfare.

Plus it might reduce our debt burden.
Re: PMS Price Now N170 Per Litre. by olisaEze(m): 8:53am On Feb 15, 2021
Vardanes2:


Well, that's not necessarily true.

The problem with Nigeria is that the money for subsidisng fuel comes from the revenue we get from...oil...which since 2014 has been on a downward trend, and even when the times were good...2011-14, we still did not have enough cash to keep prices down


Infact, allowing the market to control the price could lead to...more revenue, more investment, more refinereis, more jobs, and more savings for government which can be used for.....the people's welfare.

Plus it might reduce our debt burden.

Well I beg to differ. Taking Canada as a case study, the FG does not determine price of gasoline, the provincial authorities do to cushion the effects on the consumers.

Coming down to West Africa the government of Ghana claims not to pay subsidy on petrol, but 65% of the landing cost by BDCs bringing in fuel is payed by the govt to mitigate the final cost on the end users.

Nigeria is a petrol dependent economy for the moment. Every sector of the economy is dependent on petrol because power is ailing at best and comatose in many parts.

We can’t be talking of poverty eradication on one hand & leaving the average tailor, welder, hairdresser to bear the brunt when the govt is fully aware that petrol is a major source of electricity in Nigeria.

If the govt really cared about subsidy and it’s effects on the national purse, the first thing to do would have been to fix at least one refinery and not paying lip service to the people with railroads to Niger.

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Re: PMS Price Now N170 Per Litre. by Nobody: 9:24am On Feb 15, 2021
olisaEze:


Well I beg to differ. Taking Canada as a case study, the FG does not determine price of gasoline, the provincial authorities do to cushion the effects on the consumers.

Coming down to West Africa the government of Ghana claims not to pay subsidy on petrol, but 65% of the landing cost by BDCs bringing in fuel is payed by the govt to mitigate the final cost on the end users.

Nigeria is a petrol dependent economy for the moment. Every sector of the economy is dependent on petrol because power is ailing at best and comatose in many parts.

We can’t be talking of poverty eradication on one hand & leaving the average tailor, welder, hairdresser to bear the brunt when the govt is fully aware that petrol is a major source of electricity in Nigeria.

If the govt really cared about subsidy and it’s effects on the national purse, the first thing to do would have been to fix at least one refinery and not paying lip service to the people with railroads to Niger.

1. Canada pays 405 naira per liter for fuel

2.Ghana pays 345 per liter of fuel

3. Refineries are in a bad state because subsides means low prices means there is no money to fix them and upgrade them...because fuel is being sold at a loss
Re: PMS Price Now N170 Per Litre. by Nigeriadondie1: 9:27am On Feb 15, 2021
Vardanes2:


1. Canada pays 405 naira per liter for fuel

2.Ghana pays 345 per liter of fuel

3. Refineries are in a bad state because subsides means low prices means there is no money to fix them and upgrade them...because fuel is being sold at a loss
Canada has constant power source. They have higher income far above minimum wage in Nigeria

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Re: PMS Price Now N170 Per Litre. by Nobody: 9:33am On Feb 15, 2021
Nigeriadondie1:

Canada has constant power source. They have higher income far above minimum wage in Nigeria

And how about Ghana?

Niger too they pay 345 per liter and they are poorer than us.

Plus we have bad power supply because Nigeria does not pay a cost reflective tariff for power.

We have bad refineries because we insist on selling petrol below 200 naira and waste millions in the name of subsidy.

You guys should realize that price controls and love of cheap things is why we have issues with light and power and fuel
Re: PMS Price Now N170 Per Litre. by Nobody: 9:41am On Feb 15, 2021
iokpebholo:
Where is dt shameless helinus and d grills clown..Come and see ur darling daddy doing wonders
You are not up to date. BMC urchins are in disarray now. There is infighting among them because of the recent crises in Ibadan. There's now Tinubu faction and there's Buhari faction. See proof below. grin

Re: PMS Price Now N170 Per Litre. by Nobody: 9:43am On Feb 15, 2021
Vardanes2:


1. Canada pays 405 naira per liter for fuel

2.Ghana pays 345 per liter of fuel

3. Refineries are in a bad state because subsides means low prices means there is no money to fix them and upgrade them...because fuel is being sold at a loss
What is minimum wage in Canada and in Ghana?

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Re: PMS Price Now N170 Per Litre. by Nobody: 9:44am On Feb 15, 2021
Nonexistent:
What is minimum wage in Canada and in Ghana?

Ghana has a mimimum wage equivalent to N26000 naira

Canada is higher

The thing is sustaining subsidy is one of many reasons why we are in debt and why we don't have enough new refineries.
Re: PMS Price Now N170 Per Litre. by yaki84: 9:55am On Feb 15, 2021
Nigeriadondie1:

Canada has constant power source. They have higher income far above minimum wage in Nigeria
Bros what that guy said is true, leave whether there is no light or whatever, the govt still controls the price of fuel till date.
All those talks of market forces na lie.
Crude oil has risen to 60$ per barrel, that is why fuel is going high.
The price of fuel is directly proportional to the price of crude oil, once there is shift in price either to the left or right. It must affect the price of fuel not just in Nigeria but all over the world.
Here nnpc is the sole importer of fuel so they control the price of fuel.
Leave that market forces talks.
For light, even if we had constant light, we will still be buying fuel at what the international communities buy, the only difference will be on the volume of fuel we consume daily.
That's is where the bloc is ripping Nigerians off...
As at today it stands at 50million litres daily which is false.

1 Like

Re: PMS Price Now N170 Per Litre. by olisaEze(m): 4:51pm On Feb 15, 2021
Vardanes2:


1. Canada pays 405 naira per liter for fuel

2.Ghana pays 345 per liter of fuel

3. Refineries are in a bad state because subsides means low prices means there is no money to fix them and upgrade them...because fuel is being sold at a loss

1. 1 Canadian dollar is equivalent to N301.29 (Bank rate).

2. 100 GHC is equivalent to N6554.06(Bank rate).

Tell us again how much you would buy 10 liters of fuel in Nigeria if you were to pay with either of those currencies compared to paying with the Naira?

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Re: PMS Price Now N170 Per Litre. by Nobody: 6:36pm On Feb 15, 2021
olisaEze:


1. 1 Canadian dollar is equivalent to N301.29 (Bank rate).

2. 100 GHC is equivalent to N6554.06(Bank rate).

Tell us again how much you would buy 10 liters of fuel in Nigeria if you were to pay with either of those currencies compared to paying with the Naira?


Okay....here we go..assuming the naira is the universal currency for the whole world (lol)

10 liters in Canada costs : N4160

10 liters in Ghana costs : N3575

10 LITERS IN NIGERIA: N1600 (from an NNPC station)


The problem ultimately is that here in Nigeria, we spend a lot of money keeping fuel cheap because we are poor. Thus there are no profits left to fix and repair nrew refienreis.

Fuel is cheap in Nigeria. It has always been cheap. And thus, it became unprofitable to refinefuel in Nigeria...and thus we ended up being overimporters.


The point you are missing is that subsidescost a lot of money. Canada pays subsides. Canada can afford to pay subsides because

1.Their tax to gdp ratio is 33.0% . Nigeria is 5.8%

2.Oil is just one of several stuff they export...plus they are an industrial nation. Nigeria livces only on oil...and oil

3.Canda produces more oil than Nigeria for a population less than 24 million people. Nigeria has 206 million people. It is like comparing a family where the income in family A with two children is 100000 mnonthly, while family B with ten children earns 50000 monthly.


So, if you want to be like Canada, maybe you should consider paying higer taxes, and getting our economy to be more industrial.

Because every year, since the 1980's we have been wasting money we could have used for more refinereis, and we could have used to expand and upgrade exisitng refienreis on a subsidy that has made us importers. today

Meanwhile we fool ourselves we are rich.

Ah well, we must have cheap fuel. That's why you voted for APC in 2015....and why you voted for PDP in 2019. Cheap fuel

Good evening.
Re: PMS Price Now N170 Per Litre. by EgusiSoup: 7:10am On Feb 16, 2021
The silence by the pastor and lawyer is really amazing. I wonder if Jesus would have done thesame..

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