jusRadical:
This is no good news.

Gej (the supposedly corrupt president and the cause of all problems in Nigeria) made it N87 when the price of crude oil came down to around $67 per barrel. Now crude oil is around $35 per barrel and and pmb (the apc's messiah, saint, saviour, 'god', etc) is talking of N85 per lit of pms (if the info is true) and some people are rejoicing.


I am sorry for this company. oh sorry, country.

Now you need to uderstand that monies were still being used as subsidies @that N87, and a govt is now telling you that it will be sold @85 but no extra cost will be wasted in form of subsidy.

Jonathan gave us N140/Lt when he removed his, this present govt gave us N85/Lt when the removed hers. The difference btw 140 and 85 is the fall in the oil price over the years (2012-2016).

Don't you get it?

It has been predicted that in 2016, oil price at international market will fall to $20 per barrel.

If N2 could only be the difference as the present oil price is $36 against when it was brought low to N87 at $67 per barrel, then this current government are chronic thieves.

If we do the analysis well, 1 barrel is approximate to 120L, then the cost of 1 litre = $3.33 or N656.67.

1.72 percent of PMS can be seen in 1 litre of crude oil, therefore the price of PMS = N11.29.

Operating cost per litre = N10
Logistics| import duty =N9
Labour = N8
=

Total Cost of Petrol per litre = N42 (approx)

Please how come did they say it will be sold @ N85

Keep quite there, Jona increased it from N65 to N120, then from N120 to N97 after pressure from Nigerians, he later reduced it to N87 because he wanted votes from Nigerians...... Petrol was N65 before the clueless assumed office

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

Them kuku no call me for social media meeting. So I keep my comments.

If a barrel of crude is $38 appr. And dollar is 198naira appr.
1 barrel of crude=158 litres of petrol.
1 litre of petrol=47naira appr.
Now I wonder why there is subsidy?

etim20:
I believe u to be more educated than dis but to be frank, I am totally disappointed in u. In as much as u decide to toll opposition lane shouldn't make u to be a sadist. GEJ met PMS at N65 per litre,he hiked it to about N150 per litre when a barrel is sold at $120 or there about in the global oil market, which he was forced to reduced it to N97 and later N87 per litre and did nothing with his cannibal economic team when oil was sold at $45 per barrel, and now PMB inherited it with oil being sold at $45 per barrel and has rolled out plans to reduce the price in the first quarter of 2016 in which oil today is sold at $49 per barrel globally. Which means when we get to second and third quarter of 2016, PMS is likely to be sold below N40 per litre. Pls criticise and wail when and where necessary.

. And u know all these because u are the assistant minister of petroleum. Later u fools will be asking for "quote where Bubu said it.

Amberon:
if our government is a sane one, then petrol shouldn't even sell above 30 naira. because crude oil is at its lowest price in the international presently. So naturally, a fall in the global oil price should also mean a fall in petrol for consumption. but our useless government with their corrupt ways won't adjust the price to this effect.

about last year, the U.S govt slashed the price of gas by a third the normal price because gas got cheaper. Our useless government should learn.

How much is the price PMS globally? Stop saying what you don't have idea about.

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

You are wise.

MrHyde:
Why are Nigerian youths so sentimental? Price of fuel was reduced from 97naira to 87 naira with billions in subsidy and u compare that to reduction from 87 naira to 86/85naira without subsidy. If the so called leaders of tomorrow r on nairaland then the future is far from bright.

If we use Nairaland as a template of youths as leaders of tomorrow then we can as well conclude the elders can continue leading the country. Good thing is there are millions of youths outside this forum who have lots upstairs to offer.

ImpactWorld:
Petrol is #200 per liter in my location.

APC please stop the scam,Nigerians are tired

Where is that ur area? I guess sambisa cos that's the area tankers can't get to for the fair of Boko haram...oniranu olopolo eja. Like u are now smoking sambisa weed

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

Jona deducted 10 naira and it was available.
Hope it will be available with 2 naira deduction
That's the main issue, AVAILABILTY.

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

.....N85 with all subsidy gone though.

We want availability first. Our business is dying because of lack of fuel which has hiked the price.

Firefire:


If possible, flog to comma.

Petrol should now sell for below 50N/L, but the mouthed and clueless administration of professional fruadsters and liars are still stealing the excess.

Where is the King of Liars... Alh. Lie Mohammed ?

Stealing the excess? How much is the average global price of PMS?

jusRadical:




I doubt this news.


But if it is true, it will look absurd because you cannot remove susidy thereby deregulating the petroleum sector and at the same time, fixing or pegging the price of pms.

Let them dey deceive their zombies

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

Jona took fuel from N65 to N141 them forced to reduce it to N97 and later reduced to N87

“We have gone to find out how we will be able fluctuate this market to reflect what the reality of crude market is. The objective is that one, we cannot afford to continue to subsidise. We can’t even understand where those subsidies were going to. There are a lot of fraud elements in it so we need to cut that of.”

Wailing wailers your boxing day food is ready; come eat and fight.

Which do we prefer: PMS @ #87 with subsidy or #85 without subsidy?

Comprehension is at a premium.

MrHyde:
Why are Nigerian youths so sentimental? Price of fuel was reduced from 97naira to 87 naira with billions in subsidy and u compare that to reduction from 87 naira to 86/85naira without subsidy. If the so called leaders of tomorrow r on nairaland then the future is far from bright.

Why not wait till subsidy is removed or you didn't read amount budgeted for the same subsidy in 2016 budget?

Amberon:
if our government is a sane one, then petrol shouldn't even sell above 30 naira. because crude oil is at its lowest price in the international presently. So naturally, a fall in the global oil price should also mean a fall in petrol for consumption. but our useless government with their corrupt ways won't adjust the price to this effect.

about last year, the U.S govt slashed the price of gas by a third the normal price because gas got cheaper. Our useless government should learn.

you are nothing but a wailer! Olodo

Nigeria is in a wrong hand
quote me anywhere

Was there any part in the entire article where he said 85 naira without subsidy?

OLADD:


Jona reduced the PMS price from N97 to N87 but Lai Mohammed and APC cried blue murder. Today, while in govt, all APC-led administration can do was a N2 reduction! What a scam!

Mr man..yaradua left d price at 65N...jonathan wantd 2 remuv subsidy n placed ot at 141N!!!..e later reduced it 2 97..then 87..get ur facts.

It should be sold for 120 naira,who nor wan buy should buy bicycle jare

wristbangle:
It has been predicted that in 2016, oil price at international market will fall to $20 per barrel.

If N2 could only be the difference as the present oil price is $36 against when it was brought low to N87 at $67 per barrel, then this current government are chronic thieves.

If we do the analysis well, 1 barrel is approximate to 120L, then the cost of 1 litre = $3.33 or N656.67.

1.72 percent of PMS can be seen in 1 litre of crude oil, therefore the price of PMS = N11.29.

Operating cost per litre = N10
Logistics| import duty =N9
Labour = N8
=

Total Cost of Petrol per litre = N42 (approx)

Please how come did they say it will be sold @ N85

Let begin from the scratch, how much is the global average price of PMS as of this morning?

With lack of infrastructure, marketers will still hold FG to ransom. The truth is that there is no truth in Nigeria's oil sector even under saint buhari

Infinitikoncept:

Why not wait till subsidy is removed or you didn't read amount budgeted for the same subsidy in 2016 budget?

Ogbeni I read that budget speech twice, petroleum subsidy is NOT provided for.

I would like to see your link where petroleum subsidy is provided for in the 2016 budget

Amberon:
if our government is a sane one, then petrol shouldn't even sell above 30 naira. because crude oil is at its lowest price in the international presently. So naturally, a fall in the global oil price should also mean a fall in petrol for consumption. but our useless government with their corrupt ways won't adjust the price to this effect.

about last year, the U.S govt slashed the price of gas by a third the normal price because gas got cheaper. Our useless government should learn.

Dude!! A third? A third?? Anyway I'm not even sure why people attribute the price of gas in the US to the government. Gas prices are fixed to reflect crude oil prices, oil prices go up, price at pump goes up and vice versa. There's no fixed price. You can buy gas at a station for $2 and another one less than half a mile away can be selling it for $1.95, what am I even saying less than half a mile, across the street sef, even right next to it. The market dictates price at the pump

Don't even understand dis government. It's full of trick's, always changing deir words

Na 1 chance we dey oh

We have been buying fuel at an average of #140 in Rivers State. I suppose the Federal govt still pays for subsidy. This is the height of fraud. PMB and his cohorts shall be judged.
Where is stupid Labour Congress and other civil liberty organisations

And Jonathan's new year gift to you was increasing the pump price from N65 to N120.... during GEJ, it was N87 with subsidy and PMB is reducing it to N85 without subsidy you are complaining. Wailers sha

Snoolv360:
Removing 2 naira is this what we Nigerian deserve as new year gift?

jusRadical:
This is no good news.

Gej (the supposedly corrupt president and the cause of all problems in Nigeria) made it N87 when the price of crude oil came down to around $67 per barrel. Now crude oil is around $35 per barrel and and pmb (the apc's messiah, saint, saviour, 'god', etc) is talking of N85 per lit of pms (if the info is true) and some people are rejoicing.


I am sorry for this company. oh sorry, country.

Hahahahahahha. You mean the Zombies. They must rejoice now

Am so sorry for we nigerians for the bad Govement that we have. Why r they fooling there self and thinking that they are doing the right thing. At 87 naira were we able to see it buy? God have mercy