Why I love the renewed hope abi rope is dat it outreaches everyone- wat yorouba is buying is same with Igbo, Hausa and Fulani. No tribalism in cost of leaving— it’s like Agnes Nwama

slawomir:
Damnnn niggar

Can't imagine I filled my gadmnnn lexus 350 tank today with almost 36 thousand naira something I normally do with 16 thousands naira

Hope they give more licences to other importer of this gadamnnn fuel

Ain't gonna be spending my hard earned money for weed and alcohol on some damnn fuel

Bros you supposed don buy Benz by now oh.
With all this your bombing,abi nah just weed Heineken and pussy you dey bomb for

stasius:
If our refineries are working will there be need for subsidy?

Nooooo!

I believe some wicked devils are sabotaging our refineries. They have made sure the refineries won't work so that their selfish interests will materialise.
A lot of things are becoming clearer.

Any evil person that is against our refineries becoming functional again, we say Holy Ghost..... Fire!!!

holy ghost is a comforter, please leave him alone and out of Nigeria problem, what Nigeria need is Angel Michael the war angel that will fight to finish the wicked politicians, don't involve holy ghost here and let Nigeria face their problem.

blowjohn:



This ur theory get as e be

Na low-key choppings. Before the initial July to start the implement the removal of subsidy...NNPC have already increase the pump price from the ones they have in stock already. So that over 300naira ontop in millions of litres is billions that Jagaban will share with them

Nigerians should be ready to buy fuel at between N3,000 to N5,000 a litre before the end of this regime....

Idaytesj29:


Govt should not subsidize anything. Enough is enough

But do you think 75% of Nigerians can afford the effect of over 500 per liter without any intervention from govt. The implication of this is increase in price of commodities...even school fees, everything will increase without an increase in people's income...this has to be phased out carefully....the thieves importers benefitting from this will hide under the pains of the masses to make the governement unpopular and this govt doesn't need this

AntiChristian:
There's no way there won't be pain? Forget campaign after election!

There is. This subsidy would've best been removed little by little, giving people time to adjust, not the way TInubu did it.
Now people are suffering. Prices of goods and services will skyrocket soon. Honestly, I pity the poor masses

SensualMan1:
Yorubas will buy fuel at N86 while the Igbos will comfortably buy it at N600 for their v8 engines with no complaints.

Keep doing it Jagaban! Dish out ur horses whip on their back. Make them gnash their teeths on a road filled with peril. Soon they won't be able to afford their roadside ewa agoyin. Make them starve to death. Make them thin like skeleton. Make them know u r the Jagaban that u made urself President and not them.

Oga pls stop this kind of tribalistic post. It is not good for the Nation's progress. Are you saying no Igbo voted for APC or no Yoruba voted for Atiku or Obi? Let's be practical & objective for once. Beside, nobobe tribe in Nigeria is feeding another tribe for God's sake. All these chest beatings are for small minds I beg. God bless you.

BreconHills:


Modular refineries are private. They don't need commissioning by Govt. There are 2 ready to come online very soon.

Next up is a single fx rate.

Everybody put on your seat belt and prepare for turbulence.

The good news is that the plane will land instead of the mid air explosion that was looming.

Yes o, real turbulent. Make God help. That FX too will be a though call.
We need up to 10 modular refineriee speedily.

priceactionx:

Yes o, real turbulent. Make God help. That FX too will be a though call.

It will but I can see asset sales coming to buff up fx and increased credit to grow domestic economy..

The time is now. We are the generation to do this for our children and grand children.

grandstar:


Who told you more refineries will reduce the price?

Fun facts: Brent crude is currently 49cents per litre. Multiply by the black market rate of 700 and you have 343.per litre. That is the price before refining costs have been added.

Fun fact: The price is of crude oil is decided internationally. If tomorrow, the price increases to 65cents per litre, the price will go up, even if there are 10,000 modular refineries. They can't purchase their basic raw material at a certain price and sell below production cost.

Fun fact: Refineries are exposed to massive losses

They can buy crude oil at $80 dollars and by the time they want to refineries and sell their refined products,the crude oil price might have crashed to $50.

This bankrupted Otedola in the 2009. He bought diesel in 2008 when the cride oil price was $128/barrel and it had collapsed to $35 in 2009.

For refineries to protect themselves from such volatility, they hedge themselves against such price swings by engaging in forward contracts, options etc.

Perhaps, that's why those in refining call it a "lousy business"

I would appreciate it if an economist 4play or Blue3k, omohayek can explain this better. Please help out with forward contracts and options.(not compulsory though)

not so much by significantly
There's an element of competition or lack of it In price determination of finished product. I get your point u are largely correct, but this little element of competition will shed as much as 30 naira if not more from this 500 naira....this is something

BreconHills:


Remove subsidy without pain. The person you are replying must be high.

Every nation goes through economic and social shocks before transformation. Black people just have a problem managing their lifestyle believing that life owes them.

Palliatives are another scam and fraud. The market will self correct. Give it five months or even less.

Have we not just passed through a violent cash confiscation policy?

We can do this and we will. We are not called Nigerians for nothing.

I just dey pity una....if there is no policy to ease the pain you will complain bitterly.

It is just starting,wait until every product and services skyrocket beyond your imagination. We should even be praying that 800m dollar they want to borrow is not looted.....

The market will self correct if the government do the right thing. I won't say anything for now,let us just pray they don't tow the rubbish buhari did.

It looks easy writing it until you feel it.i remember telling someone last two months that what is coming will last for two years because of the baggage buhari administration passed to this present administration.Tinubu will soon start shouting about the huge mess.....

Yes it will, no doubt! But it's either we pay for the normal fuel or Nigeria keeps giving the cabals money for subsidy!

GetSenseNow:

There is. This subsidy would've best been removed little by little, giving people time to adjust, not the way TInubu did it.
Now people are suffering. Prices of goods and services will skyrocket soon. Honestly, I pity the poor masses

Nahunger:
Well, I pray this government will favour me and my family what ever policies, decision or inactions they take it will be to my favour and not be a disadvantaged to me.

leave all dis tinz guy,when u dey abroad, u nogo fit talk dis kind word.

Dis is wat sm ppo use to console demselves,wem dem.reach abroad..u won't hear dem say dis

It's only APC supporters this tin won't affect

Zxcvbnmghtr:
If it were Peter Obi, am sure he will remove the subsidy without pain.

That’s the mentality of an average Nigerian, they make stupid decisions, get themselves in troubles, instead of accepting their stupid mistake and turning around, they justify their stupid mistake and then accept suffering as normal. And ready to make the same mistake again and again and again.
Nigeria is a confirmed headquarters of dumb people.

Lifeless to druggie!
The shithole from fry pan to fire!

blowjohn:



U must be ignorant not to know what is happening.

The cabals are fighting back.

Nnpc is fighting back.

Mr man no cabal is fighting back, if you have been following the news you would have known that NNPC MD had a meeting with Tinubu yesterday so you don't need soothsayer to tell you this is the outcome of the meeting. Leave unseen cabal out your analysis it is too early for that.

As it turns out, God isn't going around punishing people's buttocks.

JetStar:


God punish you punish tinnubu punish your papa yansh.

As at 2012, Tinubu portested against Jonathan when he wanted to remove Feul subsidy. Now in 2023, Tinubu got sworn in as president and the first thing he did is to remove Feul subsidy. The thunder that will fire you and your family and that of Tinubu ehn... that fire is still doing a strong press-up.

NzogbuNzogbu:
I don't support peter obi, but you can not expressly quantify what immediately he is referring to

You know why?

He said he was going to make sure there are efforts to cushion the effect which can't happen in the first day like tinubu

Tinubu goofed just rest

Now am seeing quality Politics here.....I know you as a stunt supporter of Tinubu but your own support is for good .....

I like people that go to a bitter leaf tree and tell it, you are bitter!!!!!!!!!!!!

Than people that will be chewing it and be smiling with an awkward face ....lols

AntiChristian:
There's no way there won't be pain? Forget campaign after election!

He already articulated strategies aimed at cushioning the effect of subsidy removal.
Not just careless statements as witnessed by Tinubu in his inauguration speech.

AntiChristian:
Abeg watch this video and see Peter Obi say it yourself!

https://twitter.com/Pres_Adebayo/status/1663654854680625155



If you remove 50% Subsidy, are you still not subsidizing 50%?

I am a BAT supporter, but he goofed big time on this. He shouldn't have announced it immediately.

Una fit get fuel at control price here. I for give una the address but una too dey arrogant, una no dey greet person. I go leave all of una to suffer.

AntiChristian:
There's no way there won't be pain? Forget campaign after election!

You have ported from Islamic activism to political jobbing while retaining your obviously bigoted moniker.
Don't you think this reflects on the politicians you support?

obaidan:

But do you think 75% of Nigerians can afford the effect of over 500 per liter without any intervention from govt. The implication of this is increase in price of commodities...even school fees, everything will increase without an increase in people's income...this has to be phased out carefully....the thieves importers benefitting from this will hide under the pains of the masses to make the governement unpopular and this govt doesn't need this

Over 10 billion dollars every 12 months to Subsidize unsustainable already expensive gas cost is crazy. I am not in support.
It should be removed. The money should be spent on workers welfare, power sector and sell refineries to private investors, including Ajaokuta steel company.

This is the time to adjust the foundation of the economy. The false reality needs to end. I'm glad there is a leader that has the balls to stop govt from funding the luxurious lifestyle of the upper upper class who enjoys the subsidy regime at the expense of the masses it's meant for.

Meanwhile:




https://www.youtube.com/watch?v=YVQqsqov7f8

AntiChristian:
There's no way there won't be pain? Forget campaign after election!

...obi said he will remove subsidy immediately during his inauguration speech...now there is hardship everywhere... president obi must be arrested

Hotwest:
Na low-key choppings. Before the initial July to start the implement the removal of subsidy...NNPC have already increase the pump price from the ones they have in stock already. So that over 300naira ontop in millions of litres is billions that Jagaban will share with them

Nawao.
E be things o.
Politicians eh. Well make I give am small time

AntiChristian:
PRESS STATEMENT

ADJUSTMENT IN PUMP PRICE OF PMS



https://twitter.com/nnpclimited/status/1663897300651966466


See the new price list here https://www.nairaland.com/7709977/nnpc-hikes-petrol-prices-across

Eye don red and derty *in Olamide's voice* for people wey dey vote based on religious and tribal sentiments. Na all of us go kuku suffer this misnomer of a President.

We hear.

You are all welcome to RENEWED HOPE