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The Devaluation Of The Naira And The Real Effect On Petroleum Product Prices - Politics - Nairaland

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The Devaluation Of The Naira And The Real Effect On Petroleum Product Prices by olajide8(m): 11:49am On Mar 03, 2015
For a while- I was one of the first advocates for a reduction of pump price of petroleum products, if truly we had a free market determining the prices of petroleum products based on the international market value of finished products "thou we run a sham in nigeria", but now I would want to show you - were this government has failed due to the massive steal going on, now that the value of the dollar has sky rocket against that of the naira - "bearing in mind the fact that we don't produce finished products," we need more naira to buy few dollars to purchase this all important commodity - automatically what this means is that the price of the commodity in a free market would sky rocket and believe you me- we would end up paying more for this product then the price fixed at N97 previously- which had been their plan all along, split nigeria along economic lines- because they purposely mis-managed the economy, and are still mis-managing the economy as we speak- they are actually canvassing for votes and issuing all sort of false positions* - let the foolish continue to get fooled - but we need better people to manage this economy - NOI* "world bank MD" we have seen the stuff your made off- coupled with an un serious minded group of people, not taking charge for faults but always laying the blame on someone else's doorstep.

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