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Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre - Business (1) - Nairaland

Nairaland Forum / Nairaland / General / Business / Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre (8457 Views)

IPMAN Inaugurates Sale Of Kerosene At N50 Per Litre Nationwide / Price Of Petrol In War-torn Libya Is N19.87 Per Litre / Fuel Subsidy Removal: Petrol May Cost 195 Naira Per Litre (From 65 Naira) - NLC (1) (2) (3) (4)

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Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Sunofgod(m): 8:20pm On Oct 09, 2011
pappy2000:

This removal of subsidy is long overdue. This is what the Nigerian people deserve. They voted for   their  enemies, now  they  have to face the consequence. The Nigerian people  deserve the govt they get.They voted for GEJ not Pdp. Now they must face the consequence of their action, they should  face it.

You sound like a politician.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by aljharem3: 8:21pm On Oct 09, 2011
Na wa o. fresh air PDP people don come again

@Jason

why are u angry like this ?
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by koolman: 8:22pm On Oct 09, 2011
Pls can any body confirm to me when the minimum wage will be paid?All is vanity upon vanity used to deceive Nigerians.
I wonder how Nigeria will produce crude oil,sold it at N100 and used N142 to buy it back from the same person we sold it to.
Is that not ridiculous? Those leaders are not sincere to Nigerians.We are suffering from 'winner takes all sickness'.But I asure you revolution must come one day.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by jason123: 8:23pm On Oct 09, 2011
Well, we get the leaders we deserve. We Nigerians(masses) keep voting based on ethnicity while the elites are of one ethnic group; the corrupt, incompetent and insensitive ethnic group. While you see a Northerner or Southerner, they see themselves as brothers who use the ethnic game to rob us BLIND. Tough-luck Naija!!!
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by jason123: 8:23pm On Oct 09, 2011
alj_harem:

Na wa o. fresh air PDP people don come again

@Jason

why are u angry like this ?

Bros, the thing tire me. Naija tire me. Come to UK and see the way our fellow country men work like there is no tomorrow. You'll pity what you see.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Cine(m): 8:24pm On Oct 09, 2011
"Thank God Am Not A Nigerians" Mu he he  

We have enough people here with horrendous grammar, so I guess Nigeria doesn't really need to add another person to the already terrible statistics.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by tonardo(m): 8:31pm On Oct 09, 2011
removal of the fuel sub at once ll cause unbearable hardships in the country,. Why don't they remove it gradually so that we wouldn't feel it.,


GEJ please rethink now,
ur advisers want u down, why don' obj think of it. Its you,
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by pappy2000: 8:40pm On Oct 09, 2011
Sun of god:

You sound like a politician.

I am not a politician,but that is the bitter truth.If people were thinking along my line,even if mother therasa comes under the Platform of the Pdp I will not vote becos that platform is too weak and corrupt.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Cine(m): 8:42pm On Oct 09, 2011
This removal of subsidy is long overdue. This is what the Nigerian people deserve. They voted for   their  enemies, now  they  have to face the consequence. The Nigerian people  deserve the govt they get.They voted for GEJ not Pdp. Now they must face the consequence of their action, they should  face it.

I kind of agree with you. Why on earth vote for a party that's been destroying the country for over a decade. I mean God forbid a Muslim from the North's voted in. Southerners would rather a bunch of christian thugs run their country as opposed to a muslim who wasn't blind to the corruption. Northerners are no different in respect to islam. It's okay to Bleep the country up just as long as it's our people doing it.  

The PDP somehow, someway, need to go.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by muyoto: 8:46pm On Oct 09, 2011
tonardo:

removal of the fuel sub at once ll cause unbearable hardships in the country,. Why don't they remove it gradually so that we wouldn't feel it.,

isn't that what they've been doing in the last 12 years.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Rhino5dm: 8:46pm On Oct 09, 2011
Another stuupid ediot yarning dust. . .why do you think i put it in quote? That was a popular Ghanian song made to insult Nigerians, You are the only fool here trying to make yourself look terrible. Nonsense.

Again. . "Thank God Am Not A Nigerians" Mu he he

Cine:

We have enough people here with horrendous grammar, so I guess Nigeria doesn't really need to add another person to the already terrible statistics.  
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Cine(m): 8:54pm On Oct 09, 2011
Another stuupid ediot yarning dust. . .why do you think i put it in quote? That was a popular Ghanian song made to insult Nigerians, You are the only fool here trying to make yourself look terrible. Nonsense.

We have enough people here with horrendous grammar, so I guess Nigeria doesn't really need to add another to the already terrible statistics.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by lakhadimar: 9:01pm On Oct 09, 2011
Look at what IMF & THE WORLD BANK are doing to us through harsh economic policies. Goodluck is a puppet to them & the oil is now a curse to us. Qadaffi was against all these, libyans were enjoying their oil wealth before those rascals started the bombings. NATO i think we also need u to help us drive out goodluck
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by toba: 9:05pm On Oct 09, 2011
Cine:

We have enough people here with horrendous grammar, so I guess Nigeria doesn't really need to add another person to the already terrible statistics.  
abeg no make me laff die ooooo
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Aderupoko2: 9:21pm On Oct 09, 2011
God!!!I need to win VISA Lottery fast!!!This country is bankrupt
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by aljharem3: 9:21pm On Oct 09, 2011
LOL but seriously, we Nigerians are in[b] BIG TROUBLE[/b] if this price actually goes to 145 N
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Rhino5dm: 9:26pm On Oct 09, 2011
Thank God Am Not A Nigerians. cheesy cheesy cheesy

alj_harem:

LOL but seriously, we Nigerians are in BIG TROUBLE if this price actually goes to 145 N


Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Rhino5dm: 9:29pm On Oct 09, 2011
IMF 1 : Nigeria 0. . .Mu he he grin grin grin
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Relax101(m): 9:33pm On Oct 09, 2011
I support the removal of fuel subsidy with a big YES.
It will kick out corruption in the oil industry and the money will be used for other meaningful projects and development.
If you want good things to happen in Nigeria, removal of fuel subsidy is one of the basics to kick start any development in Nigeria.
You all will bark and not bite.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Reference(m): 9:42pm On Oct 09, 2011
This is a finite resource that has done untold damage to the environment and has not particularly benefited the communities in the line of fire.

However one can understand the cataclysmic effects a total subsidy removal will cause and this is why better government management would have sufficed.

I can't understand why it cannot be withdrawn instalmentally over an agreed period of time conditional on investment and other developmental targets being met.

What I certainly object to is a liberalisation policy under the shadows of absolute government monopoly in the form of NNPC. This is a recipe for corruption on a scale only to be imagined.

For those who smell revolution, I would say it is not entirely a bad thing but trust those in charge of Nigeria, they would never permit that to happen.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Cine(m): 9:42pm On Oct 09, 2011
Look at what IMF & THE WORLD BANK are doing to us through harsh economic policies. Goodluck is a puppet to them & the oil is now a curse to us. Qadaffi was against all these, libyans were enjoying their oil wealth before those rascals started the bombings. NATO i think we also need u to help us drive out goodluck

Why would the NATO countries want to drive out GEJ? The NATO countries are benefitting from the status quo. Ask Royal Dutch Shell if they're complaining about their billion dollar profits. The only way NATO would ever get involved in Nigeria is if the GEJ/PDP government was put under threat by an Arab Spring style uprising against the government. A people revolution. Don't forget it was the UN that said "we don't negotiate with rebels we crush them"

But why you ask did the UN/NATO aid the rebels in Libya? Simple, no one in the western world likes Gaddafi, and Gaddafi hates the West.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by monkeyleg: 9:44pm On Oct 09, 2011
Really is this the most pressing thing in our country. I wonder what would happen to crime when this happens. We just dont think in tha country. The average man is barely surviving, then this
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by pingme: 9:45pm On Oct 09, 2011
Iran is carrying out a phased removal of subsidies on fuel. Consider its planned approach to the fire brigade approach the clueless PDP government is about to take:
Source
First, by announcing the rollout of the subsidy removal, they did away with ad-hoc decision making. A planned approach is always better than one based on opportunism and whim.

Next, the government asked every individual to fill in forms listing the names of the members in each household, how many cars the household had, details of assets — especially apartments and land, wealth and other sources of income. This data was then cross-checked with existing databases from banks, car registration databanks and property records. Once the list was verified, all the identified persons were asked to open accounts — something that the Unique ID project hopes to do in India in the years to come.

As of February this year, a subsidy compensation of $45 per head per month was credited into each person’s account, irrespective of whether the person was rich or poor. This way, all people are treated alike, rather than attempt to divide populations into economically backward, caste reservation, or specially targeted groups.

“The logic is simple. The rich man may get $45 per month from the government, but will end up paying a few hundred dollars more for the unsubsidised oil and electricity that he now purchases. For the poor man, the $45 per month allows him to decide whether he will opt for bread, or fuel,” said Mohammadi.

To soften the blow for marginal users, each car owner now gets 60 litres of semi-subsidised petrol at Rs15 (equivalent) a litre against an electronic smart card (as against Rs4 a litre during the pre-February 2011 period). The rest he must purchase at the unsubsidised rate of Rs28 per litre. Diesel, which was earlier sold at 60 paise a litre, is now pegged at a non-subsidised rate of Rs7.40 a litre.

To soften the blow for transporters, the government allows for special loans at lower rates of interest for a limited period. For electricity, it follows the practice of telescopic tariffs, commonly followed in India as well, where the price keeps increasing as consumption goes up.

But more interesting is the way it plans to encourage its young to raise a family in ‘decent’ surroundings. “We had a major housing shortage,” says Mohammadi. “And the government saw in that shortage an opportunity to create jobs, carve out a future and to make life easier and better for its people.”

The government decided to give to each child (irrespective of gender), as soon as it is born, a sum of around $950 paid as a trust fund into the child’s account. To that, the parents of the child must add another $20. The amount may not be withdrawn or mortgaged till the child reaches the age of 20. Every year, the government tops up this amount by around $200, with the parents adding another one-third of this amount. With the passage of time, and with the accrual of interest, each child could end up with $60,000-75,000 by the time it reaches the age of 20.

“At that point of time, a boy and girl, should they decide to get married, will have a corpus of around $120,000 which they could use either to purchase a house, or to invest in a business of their own, or in both,” says Mohammadi.

To ensure that there is no shortage of houses, the government has already launched a massive house building exercise where land is given free to developers on a 99-year lease for building houses on the outskirts of cities as extension towns, using pre-approved designs and plans. Developers are also given a subsidised loan of $15,000 per apartment to meet working capital costs. Connectivity is assured with train and bus services planned right at the outset.

“The strategy is good,” says a developer. “Unlike India, where the government charges for land and registration, thereby making houses more expensive and unaffordable, the Iranian government wants to make housing affordable. The flats are built in abundance (currently 1.6 million apartments are under construction, with 600,000 in the final stage of completion) to prevent black-marketeering. What the government ‘loses’ as income from the sale of land, it makes up from taxes later. The idea is to give people a decent start, not to make them paupers at the very start of their family life.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by odyx: 9:47pm On Oct 09, 2011
from unset GEJ has a dull brains and can get easly influenced.we need revolution to correct poor leadershio in najia. lets all rise up and said no.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by muyoto: 9:50pm On Oct 09, 2011
Relax101:

I support the removal of fuel subsidy with a big YES.
It will kick out corruption in the oil industry[b] and the money will be used for other meaningful projects and development.[/b]
If you want good things to happen in Nigeria, removal of fuel subsidy is one of the basics to kick start any development in Nigeria.
You all will bark and not bite.

That's where you people keep deceiving yourselves. Out of the billions, nay trillions, that we have made so far from oil, how much of it have been usefully and [i]transparently [/i]deployed to better the lives of Nigerians?

20% , 10%?

so what makes you think that the savings from subsidy will not go the usual way. . .

How Alao-Akala, Akwe-Doma, Daniel looted N102bn, by EFCC -Guardian

'Nigeria lost $165billion to fraud in 39 years'
234next.com/csp/, /nigeria_lost_165billion_to_fraud_in.csp - Nigeria

allAfrica.com: Nigeria: Bankole Embezzled N11 Billion - Reps


NONSENSE!!!!!!
  angry angry angry angry angry angry angry angry angry angry angry angry angry
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by honeric01(m): 9:58pm On Oct 09, 2011
Noise makers, NOTHING IS GOING TO HAPPEN! they are going to do it and you all are going to run to churches/mosque, praying that God should come and touch the govt's heart as usual.

i repeat NOTHING IS GOING TO HAPPEN AS SOON AS IT'S INCREASED.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Cine(m): 10:00pm On Oct 09, 2011
For those who smell revolution, I would say it is not entirely a bad thing but trust those in charge of Nigeria, they would never permit that to happen.

Wouldn't be permitted in Washington, London, Paris, or Berlin either. They're benefitting from all the oil money and puppets (GEJ) in government. Remember Patrice Lumumba http://www.guardian.co.uk/global-development/poverty-matters/2011/jan/17/patrice-lumumba-50th-anniversary-assassination.

The first legally elected prime minister of Congo. He was a nationalist who wanted to use Congo's vast natural resources to help his people. Well America needed control of those resources so the CIA organised a Belgian execution squad to assassinate him. They then installed a puppet government, headed by Mr General Mubutu (an unelected dictator who killed a lot of his own people). But the west didn't really care because they controlled the government through very powerful mining corporations.

So a revolution? although it needs to happen, it wouldn't have support of the western oil corporations, I mean why would they want anything to change.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by asha80(m): 10:01pm On Oct 09, 2011
honeric01:

Noise makers, NOTHING IS GOING TO HAPPEN! they are going to do it and you all are going to run to churches/mosque, praying that God should come and touch the govt's heart as usual.

i repeat NOTHING IS GOING TO HAPPEN AS SOON AS IT'S INCREASED.


grin grin grin
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by toba: 10:02pm On Oct 09, 2011
Relax101:

I support the removal of fuel subsidy with a big YES.
It will kick out corruption in the oil industry and the money will be used for other meaningful projects and development.
If you want good things to happen in Nigeria, removal of fuel subsidy is one of the basics to kick start any development in Nigeria.
You all will bark and not bite.
This is a pathetic response and i thought u being a cool guy could have posted something better.
Do u have any proof that theres corruption in the oil sector? what do u mean by 'if u want good things to happen in Nigeris removal of subsidy is one of the basic? im sure u are not an economist or now little about it. answer my questions and i'll explain to u some of the flaws in ur post
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by babestella: 10:06pm On Oct 09, 2011
he fresh air too much sooooo tey i don dey choke sef, ebi like sey raid or baygon go better for that january. Unlc jona may be on his way back to his jungle in bayelsa, and we turn Aso rock into luxury flats for the masses. But seriously, na so monkey dey take enter market, e no go come backi ooooooo. may una warn uncle Jona oooo because dem don dey push am as e no get him own mind and conscience.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by aljharem3: 10:12pm On Oct 09, 2011
Relax101:

I support the removal of fuel subsidy with a big YES.
It will kick out corruption in the oil industry and the money will be used for other meaningful projects and development.
If you want good things to happen in Nigeria, removal of fuel subsidy is one of the basics to kick start any development in Nigeria.
You all will bark and not bite.

So the 2.5 bn used to buy cars for reps nko

the 1.3 million naira used to feed mr president and his family

the 10 bn naira used for fake ID cards

etc

SMH gullible Nigerians.
Re: Current Price Of Petrol Without Subsidy: ₦142.92 Per Litre by Kobojunkie: 10:20pm On Oct 09, 2011
honeric01:

Noise makers, NOTHING IS GOING TO HAPPEN! they are going to do it and you all are going to run to churches/mosque, praying that God should come and touch the govt's heart as usual.

i repeat NOTHING IS GOING TO HAPPEN AS SOON AS IT'S INCREASED.

Otito koro!!! ROFLLMAO!!!

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