Nigerians have no business buying petrol for more than N30
look at the prices below if only the refineries are working.

Petrol price in some OPEC countries:
Saudi $0.12;
Kuwait $0.79;
UAE $0.37;
Venezuela $0.5;
Qatar $0.22;
Iran $0.42;
Algeria $0.20;
Libya $0.14.

N30 = $0.19 and you say Nigerians shouldn't be buying petrol for more than N30? Hahahahaha. With the examples you gave Nigeria comes third cheapest but you still have dreams of petrol being cheaper if refineries were workin. I like your thinking.

Can this be even remotely possible? I'll just if wishes were horses,you and I know what would happen.

Well we pay £1.32 per litre its hard to complain

baby-boy:

Well we pay £1.32 per litre its hard to complain

paniki:

N30 = $0.19 and you say Nigerians shouldn't be buying petrol for more than N30? Hahahahaha. With the examples you gave Nigeria comes third cheapest but you still have dreams of petrol being cheaper if refineries were workin. I like your thinking.

4th cheapest, But Y can't it be so? As for me if not for our dead system of Government. The cost of Gas shouldn't be above those list of prices,

baby-boy:

Well we pay £1.32 per litre its hard to complain

there are many things that you pay for in the UK that home based Nigerians will never understand

daywatcher:

there are many things that you pay for in the UK that home based Nigerians will never understand

Like. . .

Like. . .

TV License

baby-boy:


TV License

Is that really a necessity or basic need?

This na old story na, our bad government will never allow the refineries to work so they can have reasons to import fuel, simple logic! and thing will continue to get worse until we wake up from our slumber and do like the North Africans,

ok i will like buy it at 15naira sef.

moneysense:

Nigerians have no business buying petrol for more than N30
look at the prices below if only the refineries are working.

Petrol price in some OPEC countries:
Saudi $0.12;
Kuwait $0.79;
UAE $0.37;
Venezuela $0.5;
Qatar $0.22;
Iran $0.42;
Algeria $0.20;
Libya  $0.14.

Quit comparing Nigeria to all these other countries. We are different. Yes petrol could be a lot cheaper but it isn't. Deal with it.
Most of those countries have a population half the size of Nigeria. Even if they didn't have refineries, they could still afford to keep it low because the cost of perfroming other "govt" functions would still be low. I doubt kuwait's population is even up to that of Ibadan. Same for for libya etc

Nigerians have no business buying petrol for more than N30
look at the prices below if only the refineries are working.



Abi oo

@Poster
It takes a leader to see what u post, but in Nigeria since we don't have any, that is y the president is all out on subsidy.

@phuck Nl.
I feel like slaping u, what do u mean Government function. What bloody gov function are u talking about. U beter kip quiet if u dont have anything to say, I don't blame u, since u're a member of PDP u can talk rubbish.

I don't know what to call u, do u know how much i spend on petrol to kip my business going, and u are here talking about gov function. Its like at present u are being fed from ur parents house.

If u are a man u wont vomit this rubbish.

baby-boy:


TV License

Some LGA in lagos/ogun do pay tv and radio license.

babaowo:

ok i will like buy it at 15naira sef.

lol. As for me, i will like to buy it for 5naira, but you and i know the 9ja we live in

Come Next Year, The price of Petrol will Skyrocket. Nigerians would only complain for a while and adjust. Ironically, they would still gladly re-elect those same leaders responsible for hike, in 2015.

amtheone:

@Poster
It takes a leader to see what u post, but in Nigeria since we don't have any, that is y the president is all out on subsidy.

@phuck Nl.
I feel like slaping u, what do u mean Government function. What bloody gov function are u talking about. U beter kip quiet if u dont have anything to say, I don't blame u, since u're a member of PDP u can talk rubbish.

I don't know what to call u, do u know how much i spend on petrol to kip my business going, and u are here talking about gov function. Its like at present u are being fed from your parents house.

If u are a man u wont vomit this rubbish.

Dont mind that m.u.m.u his parents are still feeding him, he has never bought petrol with his money. R.u.b.b.i.s.h

moneysense:

Nigerians have no business buying petrol for more than N30
look at the prices below if only the refineries are working.

Petrol price in some OPEC countries:
Saudi $0.12;
Kuwait $0.79;
UAE $0.37;
Venezuela $0.5;
Qatar $0.22;
Iran $0.42;
Algeria $0.20;
Libya $0.14.

I can't help but agree with you.Shame we don't have refineries working in a big Country like Nigeria.

Sorry to burst your bubble guys. Many of the countries listed above, by the poster, cannot sustain these subsidies for too long. Find below a report that match my opinion. I squezed this from investopedia.com. It's lenghty, I know, but it is worth reading.

In recent years, drivers have felt it each time they pull into a gas station: a sudden pang in the heart, and a low whimper sounding from their wallets. One gallon of gas in the United States cost $3.417 on Oct. 10. That's significantly off the $4 or more drivers had to shell out in recent years. (For more on the ever changing gas prices, see The Gas Price Rollercoaster.)

TUTORIAL: Commodities

Cheapest at the Pump
It's not that way everywhere. In fact, in some countries gas is given away or downright cheap. The countries where you can find the cheapest gas at the pump, in U.S. dollars per gallon (2010):

1. Venezuela (7.6 cents)
2. Iran (37.9 cents)
3. Saudi Arabia (60.6 cents)
4. Libya (64.4 cents)
5. Qatar (71.9 cents)
6. Bahrain (79.5 cents)
7. Turkmenistan (83.3 cents)
8. Kuwait (87.1 cents)
9. Oman ($1.173)
10. Algeria ($1.211)

You may notice some similarities between these countries. First, none of these countries are considered to have developed economies. Second, none are considered to be full democracies. Third, they are all countries where you might expect to find oil. Reordering the above ranking according to the "CIA Factbook's" oil production and consumption statistics for 2010 (For more, read Top 5 Oil-Producing Countries In 2011.):

Saudi Arabia (No. 1 production, No. 8 consumption)
Iran (No. 5 production, No. 14 consumption)
Kuwait (No. 11 production, No. 36 consumption)
Venezuela (No. 13 production, No. 24 consumption)
Algeria (No. 16 production, No. 40 consumption)
Libya (No. 18 production, No. 46 consumption)
Qatar (No. 20 production, No. 62 consumption)
Oman (No. 25 production, No. 70 consumption)
Turkmenistan (No. 41 production, No. 72 consumption)
Bahrain (No. 64 production, No. 101 consumption)

Why so Low?
Some countries consume more than they produce (Bahrain), while Turkmenistan (1.7 barrels produced/consumed), Iran (2.3 barrels produced/consumed) and Venezuela (3.18 barrels produced/consumed) almost do. Why would a country that produces so much oil want to keep prices at home so cheap, and thus keep demand high? One reason is that low prices help governments present a picture of being benevolent, especially in countries facing high poverty rates. Another reason is that it sends a message that a country's resources can be used at home as well. (To help you determine how gas is priced, check out What Determines Gas Prices?)

While motorists in the developed world might gnash their teeth at the thought of drivers in distant lands filling up a tank of gas for less than a cup of coffee, putting prices in dollar terms doesn't tell the whole story. After all, the average salary in the United States is likely to be higher than the countries on this list. Looking at a country's GDP based on purchasing-power-parity (PPP) per capita gives us an idea of a country's income per head while taking into account price differences. In the United States this figure was $46,860 in 2010.

1. Venezuela ($12,048)
2. Iran ($11,882)
3. Saudi Arabia ($22,606)
4. Libya ($13,845)
5. Qatar ($88,221)
6. Bahrain ($26,931)
7. Turkmenistan ($6,804)
8. Kuwait ($38,774)
9. Oman ($25,491)
10. Algeria ($6,965)

A Little Perspective
Looking at things this way takes some wind out of cheap gas' sails. While paying $1.211 for a gallon of gas, or around $18 for a 15 gallon fill up, seems cheap, it doesn't look so cheap when Algeria's per capita GDP at PPP is $6,965. Filling up twice a month for a year would be $435, or about 6% of per capita GDP at PPP. Filling up a tank in the U.S. the same number of times at $3.417/gallon would cost $1230/year, or 2.6%.

Despite drivers across the world having different levels of pay, keeping oil prices artificially low puts governments in a tough position.

•It makes it difficult for them to let market forces take over in the future, especially since an increase in prices will be felt immediately. As seen in the U.S., people are very vocal about gas prices even though they make up a small portion of the average driver's annual spending.


•It squanders a significant source of revenue that could be used to promote economic and social development. The government should be pumping money into a sovereign wealth fund that can be used to build non-commodity based industries.


•It distorts consumer behavior by giving individuals and businesses an incentive to drive. This means that there is less of a reason to create more efficient technology, which means that there is lower demand for engineers and scientists.
According to the Sovereign Wealth Fund Institute, the sovereign wealth funds of some oil-rich countries are lacking. From the above list of countries with the cheapest gas, Oman, Iran, Algeria and Venezuela score poorly when it comes to transparency. Additionally, several have very low assets considering the amount of oil that is produced; Venezuela ($800 million) and Iran ($23 billion) should have better fund balances.

The Bottom Line
Governments know that the pressure is on, and some are moving away from heavy fuel subsidies. At the same time, the Arab Spring may make it more difficult to initiate the market reforms required to let gas prices appreciate. If you are a government trying to maintain power over an unhappy population, the last thing that you want is to increase gas prices and anger them more. Whether countries can continue letting the domestic market siphon off cheap gas depends largely on political will, but it also will depend on how much oil they have left to dole out. After all, gas may be cheap but oil supply is quite limited. (To learn more about oil, see Oil As An Asset: Hotelling's Theory On

Until the criminals are removed, tried and jailed, nothing will function well, no matter the pump price of petrol in Nigeria.

amtheone:

@Poster
It takes a leader to see what u post, but in Nigeria since we don't have any, that is y the president is all out on subsidy.

@phuck Nl.
I feel like slaping u, what do u mean Government function. What bloody gov function are u talking about. U beter kip quiet if u dont have anything to say, I don't blame u, since u're a member of PDP u can talk rubbish.

I don't know what to call u, do u know how much i spend on petrol to kip my business going, and u are here talking about gov function. Its like at present u are being fed from your parents house.

If u are a man u wont vomit this rubbish.

Illiteracy is a disease. Not every educated person is literate.
Your response shows your level of reasoning.
Everyone knows that things could be better in Naija but to open your mouth and claim absolutely nothing is being done by government is ludacris.
If we did not have a functioning government, do you think you would even have the oppportunity to get internet access to post your yeye comment (even though internet access may be expensive).
I am not saying government cant be better but there are other countries that have it worse than nigeria.
To the issue of fuel. We CANNOT have cheap fuel unless we have refineries. Guess what, who wants to invest in a refinery in a country like Nigeria where people like you will go out and say boko haram bombing is justified if they bomb only people in government or say things like naija delta kidnapping is okay as long as it is just foreigners.
A refinery is a long term investment. If there is no security, and government guarantee private institutions will be unwilling to invest.
For the refinery to be profitable, the downstream needs to be deregulated. People do not want deregulation, which ultimately will lead to higher prices in the short term but lower prices in the long run and then expect refineries to pop up.
I know you're not smart enough to comprehend so i'll leave it at that. So if you say govt is functioniong, you are now a pdp member? I pity this country. The government may not be doing enough but we definitely have a government.

A govt dat does not improve d standard of of livin of its citizens is a useless govt irrespective of wateva d govt do. Y cant d govt make d refineries work properly? Which other opec members import oil lyk nigeria?

@Phuck NL

U must be a man with diaper in ur butt, u’re writing this nonsense stories to demonstrate ur sense of reasoning.

Now tell me what u’ve enjoyed from this govt of urs that other countries of the world have not done for her citizens.

Now u are even proud that govt has provided u with internet. I think u should be rehab.

When u enjoy stolen money as a PDP member, u’re blind instantly to the suffering of other Nigerians.

Now u want to talk about the size of this country, in ur village if u have any, how many are they and how many of them have access to gud road, electricity, etc. because u are blind, u cant see.

Cant u think in a second, that the problem of this country is not in its size. Mr I too know, how many is China? Do they have electricity, or u are the one producing generator for them?

Now tell me about this ur so call govt function that is now the reason for fuel price increase, bad roads, lack of electricity, poor school etc. How much has ur governor stolen so far? If u say that u don’t know, thunder will fire ur mouth!

Now u claim to have a govt, u must be sick by saying that. For ur Information, ur so called PDP govt, its days are numbered.
Until u start feeding urself and rent  apartment u wont will not stop talking as a fool.

moneysense:

Nigerians have no business buying petrol for more than N30
look at the prices below if only the refineries are working.

Petrol price in some OPEC countries:
Saudi $0.12;
Kuwait $0.79;
UAE $0.37;
Venezuela $0.5;
Qatar $0.22;
Iran $0.42;
Algeria $0.20;
Libya $0.14.

I am sure you don't realize those prices are per gallon not per liter. Meaning you should divide your 30 Naira by 4.2.

Pls check out what one of my friend angrily posted today

"23yrs ago, precisely in 1988,the then SUG president of d University of Jos led a team of students who rioted against the then military dictator (IBB) removal of oil subsidy. He termed it "a crime against the Nigeria masses & a war against the poor". That SUG president is Mr. Labaran Maku, d current Minister 4 information who has said d removal of oil subsidy is long over due.isn't this interesting"

what can i say if that can be possible it be good ooo,huh but bad govert wouldn't allow it

amtheone:

@Phuck NL

U must be a man with diaper in your butt, u’re writing this nonsense stories to demonstrate your sense of reasoning.

Now tell me what u’ve enjoyed from this govt of urs that other countries of the world have not done for her citizens.

Now u are even proud that govt has provided u with internet. I think u should be rehab.

When u enjoy stolen money as a PDP member, u’re blind instantly to the suffering of other Nigerians.

Now u want to talk about the size of this country, in your village if u have any, how many are they and how many of them have access to gud road, electricity, etc. because u are blind, u cant see.

Cant u think in a second, that the problem of this country is not in its size. Mr I too know, how many is China? Do they have electricity, or u are the one producing generator for them?

Now tell me about this your so call govt function that is now the reason for fuel price increase, bad roads, lack of electricity, poor school etc. How much has your governor stolen so far? If u say that u don’t know, thunder will fire your mouth!

Now u claim to have a govt, u must be sick by saying that. For your Information, your so called PDP govt, its days are numbered.
Until u start feeding urself and rent  apartment u wont will not stop talking as a fool.

Firstly, i never said i like the way the current government is run. Learn to read. I said A GOVT EXISTS.
Quit whinning okay. Everybody knows we have bad roads, no electricity and all that. What else is new. The way you compose your words even shows i'm doing myself a disservice responding to you.
The problem with Nigeria is not the Govt but the MURDAPHOCKING people. If someone like you gets into govt, all you will do is loot. You only complain because you aint getting nothing from that loot.
People like you complain yet when some politician comes in and gives you a few bucks to organize rallies and steal ballot boxes, you comply immediately. If the citizens really wanted change and are not as bad as those in govt, then why do all that. Politicians can not rig elections without people. If you help them and come here and start misyarning after they've looted all funds then you are a fool.
What have you done to effect change besides whinning like a goat. I may be young but i do not reason with my anus like you okay

Yes it should be sold for N30 and it's possible, but only in my dreams.

@Phuck Nl

At last u now agree with me that we dont have govt, let alone govt function. So when next u want to comment be mindful of how u compose ur statement, and dont ever mention the word "Govt Function"

Be warned!

abhosts:

Come Next Year, The price of Petrol will Skyrocket. Nigerians would only complain for a while and adjust. Ironically, they would still gladly re-elect those same leaders responsible for hike, in 2015.

Which sadly is the truth