Hmmmm
See governors ooo, Governors that couldn't protect her people...

Beancounter94:
Eventually, we would have to accept a removal of fuel subsidy. And the increase in prices. Because oil prices have not been as high as we need it to be to fund the subsidy.

And because for refineries to work properly, they need to sell product at a profit. We have been selling fuel at under the cost price of production for decades, and thus the refineries have not been run profitably,meaning they have all run down.

Nigerians have to be realistic. We had a chance to be realistic in 2011, but we decided that cheap fuel prices was worth sacrificing our economic stability, and the development of our petroleum industry for....

Before you abuse me...Niger has a functioning refinery, and they sell fuel at N377. It is because they sell fuel at such a high price that they can afford to keep their refinery working well. Unlike us that import fuel at N260 and above, and sell it at N162, and pay a subsidy that cannot adequately cover for the loss...and we are importing because we kept on selling fuel at a price below its refining cost for decades...meaning no cash for refiniery repairs and new refinereis.

mtchew. Tell your idiotic leaders who go about borrowing to build roads and rail to also borrow and build refineries. Is dat too much to do?

Do you even consider the present rate of inflation? Price of everything in the market has doubled and you still talk about fuel increment? Have you forgotten that the price of fuel is like a determinant of the price of every other commodity in the market? So Nigerians should die because the failed govt have been unable to secure our borders and prevent petrol from moving out. A pity.

I did not know this governors are very wicked

Nigerian economy get as e be, increase fuel price and the prices of everything both related and unrelated to it goes up, regulations in Nigeria are very loose

Beancounter94:
Eventually, we would have to accept a removal of fuel subsidy. And the increase in prices. Because oil prices have not been as high as we need it to be to fund the subsidy.

And because for refineries to work properly, they need to sell product at a profit. We have been selling fuel at under the cost price of production for decades, and thus the refineries have not been run profitably,meaning they have all run down.

Nigerians have to be realistic. We had a chance to be realistic in 2011, but we decided that cheap fuel prices was worth sacrificing our economic stability, and the development of our petroleum industry for....

Before you abuse me...Niger has a functioning refinery, and they sell fuel at N377. It is because they sell fuel at such a high price that they can afford to keep their refinery working well. Unlike us that import fuel at N260 and above, and sell it at N162, and pay a subsidy that cannot adequately cover for the loss...and we are importing because we kept on selling fuel at a price below its refining cost for decades...meaning no cash for refiniery repairs and new refinereis.

I didn't know this but increases in fuel price ultimately leads to inflation

Fuel for 380 naira? It is time for the people to come out and kill these emperors! Their children are citizens of developed countries, enjoying the best of life.

sisisioge:
Dangote biko finish your refinery before these people ruin Nigeria patapata! They said the suffering is not enough!

Unfortunately, I kinda see a connection between all of this and the need for Dangote to break-even & pay-up his huge loans...

There is a conspiracy somewhere...
No solid evidence yet though...

Yet we hardly criticise these governors,they are cashing out like no tomorrow,we only focus on federal government.

jahsharon:
Please accept it you dangerous mannequin hiding inside the Rock. Move price of petrol to 400 UAR Naira. Oloriburuku Oloshi Somebody. This will be the final straw that will break your back. Nonsensical nonsense without ingredients. Ogun go kill una.

Buhari de pepper u sha

Eyah

This cat and mouse game between the givernors, presidency, DPR and NNPC is Nigeria's biggest scam till date. They keep brandishing high numbers just to keep Nigerians all worried and praying for subsidy to be maintained. A perfect fraud is you ask me

Those governors are clown

COdeGenesis:


Second account how na Oga. You are as guilty as the guy you are trying to bash. My problem with you is that you are not the one that bought a phone for the guy, you didn't buy data for him, you don't feed him so what the fcck is your business with what he chooses to do with his phone and data

E dey pain am

Second account

People like you are the major reason why Nigeria as a Country isn't moving forward. Imagine, Niger having a working refinery. Why will spend billions of naira fixing our refinery without no results. As an oil producing country we have no business importing fuel. Let them fixed our refinery first. If that's what they are able to do for the past 6 years, i will rate them a plus star.

Beancounter94:
Eventually, we would have to accept a removal of fuel subsidy. And the increase in prices. Because oil prices have not been as high as we need it to be to fund the subsidy.

And because for refineries to work properly, they need to sell product at a profit. We have been selling fuel at under the cost price of production for decades, and thus the refineries have not been run profitably,meaning they have all run down.

Nigerians have to be realistic. We had a chance to be realistic in 2011, but we decided that cheap fuel prices was worth sacrificing our economic stability, and the development of our petroleum industry for....

Before you abuse me...Niger has a functioning refinery, and they sell fuel at N377. It is because they sell fuel at such a high price that they can afford to keep their refinery working well. Unlike us that import fuel at N260 and above, and sell it at N162, and pay a subsidy that cannot adequately cover for the loss...and we are importing because we kept on selling fuel at a price below its refining cost for decades...meaning no cash for refiniery repairs and new refinereis.

franciskaine:
mtchew. Tell your idiotic leaders who go about borrowing to build roads and rail to also borrow and build refineries. Is dat too much to do?

Do you even consider the present rate of inflation? Price of everything in the market has doubled and you still talk about fuel increment? Have you forgotten that the price of fuel is like a determinant of the price of every other commodity in the market? So Nigerians should die because the failed govt have been unable to secure our borders and prevent petrol from moving out. A pity.

On the other hand, we will get into more economic trobule from spending too much government money on covering for the losses from subsides.

Which would lead to more debt and more economic crisis and more inflation.

Either way, I prefer the subsidy removal. At the end of the day, we would have more refinereis, earn more money, and eventually have lower fuel prices.

And I am no government supporter...seeing as Buhari himself prefers subsidies...he did campaign on the unrealistc price of N40 per liter.

P.S I don';t like advocating for the removal of subsidy, but I have done my reading over the last ten years, and I think it is the only sensible and sane choice we have.

secpowell:
People like you are the major reason why Nigeria as a Country isn't moving forward. Imagine, Niger having a working refinery. Why will spend billions of naira fixing our refinery without no results. As an oil producing country we have no business importing fuel. Let them fixed our refinery first. If that's what they are able to do for the past 6 years, i will rate them a plus star.

c

Well, they claim to be fixing the refinereis now, so I guess that's that.

Plus, it is like you don't understand how a subsidy works. Basically once upon a time, we sold fuel from our refienreis in this country.

Government forced NNPC to sell fuel at a loss...and paid a subsidy which should have covered for the loss.

But since the cost of producing one liter of fuel keeps rising..our refinereis operated at a loss, and fell apart.

So we imported...meaning the cost of subsides went up.

And we are importing and importing, and subsidsing what we import....

At the end of the day, we have a choice...keeep imporitng and subsidsing and getting into more and more debt, and lose millions of dollars.., or make it prfitable for refineres to operate in Nigeria.

P.S The refinereis are not working because they were not allowed to make a profit, thanks to subsidy.

AprokoGirl:


https://punchng.com/fuel-price-again-fg-rejects-govs-n380-litre-proposal/

Yorubas mocked igbos that whoever igbos support in elections d always loose ,sai baba n APC don win now make una enjoy una bubu n APC ,igbos don't support failures ,igbos warned u people in 2015 n 2019 remember,now dem don d package d idiot called osubande that failed with his master bubu I tire for u fools

I'm in full support of downstream deregulation of the petroleum sector but the refineries need to be working optimally (in full capacity) before the complete removal of subsidy...
If subsidy is completely removed PMS could be sold for as low as N100/litre eliminating cost of crude haulage.

I'm in full support of PENGASSAN point of view. God bless Festus OSIFO (PENGASSAN national President)

These governors are not being considerate to the people, the people deserve subsidies.

Monogamy:
So na the governors that have been demanding for the increase in price fuel?

What's their interest in increasing the fuel price?

Increase in federal allocation nah, and more money to be waste.

#1000 Is ok per liter

Yusufisraelj:



Absolutely, leaving the federal government to suffer the damages that'll be created from the riots.

n blame hoodlums

My pity goes to the Nigerian security personnel, this is because they are the one responsible to secure this great country. Unfortunately almost all the policies of this administration are anti masses, Toll gate, Fuel subsidy removal etc. Any way Allah is sustainer.

Baawaa:
Those governors are mad

They are mad in complexion They should mention their names 4 Nigerians to know.

AprokoGirl:


https://punchng.com/fuel-price-again-fg-rejects-govs-n380-litre-proposal/

VERY OBVIOUS, EL RUFAI IS PAVING WAY FOR DANGOTE REFINERY

Monogamy:
So na the governors that have been demanding for the increase in price fuel?

What's their interest in increasing the fuel price?

I wonder oo

God shall visit whosever that is responsible for the suffering of poor masses in Nigeria with His Divine Vengeance in Jesus Mighty name, Amen.
Look at them awon Governor's and Legislooters.

The fuel subsidy will continue to be maintained as a line item for malicious and corrupt withdrawals from the treasury.

Same as the refineries and other moribund Nigerian properties that yield nothing but continue to cost value Nigerian resources

sisisioge:
Dangote biko finish your refinery before these people ruin Nigeria patapata! They said the suffering is not enough!

You are hoping on Dangote...Dangote is a scam...he wants monopoly...he is not a good business person... If Dangote was to operate in UK or USA ,he won't be this rich...he wants monopoly in cement,sugar , and at the same time get free import duty. If Dangote diversifies into pampers production, he will lobby government to out manoeuvre his opponents there shooting the prices to one pampers for #200 or more

Beancounter94:
c

Well, they claim to be fixing the refinereis now, so I guess that's that.

Plus, it is like you don't understand how a subsidy works. Basically once upon a time, we sold fuel from our refienreis in this country.

Government forced NNPC to sell fuel at a loss...and paid a subsidy which should have covered for the loss.

But since the cost of producing one liter of fuel keeps rising..our refinereis operated at a loss, and fell apart.

So we imported...meaning the cost of subsides went up.

And we are importing and importing, and subsidsing what we import....

At the end of the day, we have a choice...keeep imporitng and subsidsing and getting into more and more debt, and lose millions of dollars.., or make it prfitable for refineres to operate in Nigeria.

P.S The refinereis are not working because they were not allowed to make a profit, thanks to subsidy.

Please can you explain how someone earning #30000 will survive such increase in fuel prices...

If Nigeria deregulate the following will happen
1. Government will not determine PMS prices again
2 oil marketers will sell PMS at their own price jus like mobile networks
3 it will spoil the business of those exporting PMS to other African countries
4 though at first the price might be high button the long run PMS prices will drop drastically
5 many companies will set up refineries

But the government needs to things easy for the masses and make sure Dangote and his other goons do not monopolize or hijacked the non subsidy regime...and government is afraid cos they won't receive revenue as it used to be especially petroleum minister...its good to deregulate in my opinion