kobonaire:
I'm not very religious but I think the time has come for prayers. I am worried.

Couldn't agree less

talktrue1:
The change is in coins now

Una no kill person with laugh

oshyno:
We are now in coins people. Hehehehehehehehehe.

What is the meaning of this. GEJ reduced it by N10 and Fashola with Lai mohmed were giving us economic lectures why it shud be N5 per liter. Wonder what happened to their mouth now.

Please where is oshiomole to come with his analysis how his govt arrived @ 86.50 when crude @ the international market is @ 37 dollars and even coming down to 20 in 2016

#86.50k pump price with the dubious "Subsidy" gone... I agree to this as far as the money meant for subsidy is channelled to verifiable massive infrastructural development.

Aplaudez:
Oje bi! Pay dec salary guy!

Thought presido instructed that to be paid before christmas?

ogayor:
Minimum wage in US is btw $6 to $7 per hour.
lets assume someone works 7hrs per day, 5 days/wk and 4 weeks
Therefore min. wage in US is approx $980 per month with enough time to rest (assume $7/hour)
this is roughly N196,000

Mathematically if N196,000 pays N200/litre in US, therefore N19,000.00 should pay 200/196000*19000= N19.38k/litre period

Very good! I hope that yeye human comparing our PMS pump price with global pump price can see this, that's if s/he understand the mathematics..

FlyboyZee:

Would you have said or done same for GEJ...

Bros, this nation is not about individual be it GEJ or PMB.

I am as surprised by the mere 50kobo reduction as u are; but that does not give me the right to jump into conclusions without details.

My surprise will either turn into pleasant surprise when PMB give additional details of say massive govt savings i.e if the new price regime indicates complete removal of subsidy in view of the current global benchmark of <$40 per barrel of crude oil OR
disappointment if he says even with the mere 50kobo reduction, govt will still spend billions annually to fund subsidy payments to major marketers.

I am trying to be pragmatic. All I preach is wait until you get additional information to guide our collective positive or negative reaction.
Is that a tough ask?

oshyno:
We are now in coins people. Hehehehehehehehehe.

What is the meaning of this. GEJ reduced it by N10 and Fashola with Lai mohmed were giving us economic lectures why it shud be N5 per liter. Wonder what happened to their mouth now.

You took the word out of my mouth. Lai Mohammed was crying all day long when the price of PMS was reduced frim N97 to N87, telling us how a difference of N10 was so insignificant. Then the price of crude oil was around USD67 p.b.

Now it is USD37p.b and what do we have, a reduction of 50k. This is a huge joke. Lai Mohammed has suddenly gone dumb. Hypocrisy at its peak.

My name-sake. F?

bright007:

NaijaEcash:
This is quite funny. Please which of the Television or Radio station will be selling at this price? We need to know so that we can go there and buy at the "Government Official Price"
Meanwhile, the fuel stations are still hoarding and selling at N135 per litre. They sell from only one pump and you get to queue!

Na so we see am oo. DPR does nothing other than to come and collect their share of the exploitation and look away. Nigerians, good people, great nation

asala1:


The average price of PMS around the world is 1.00 U.S dollars.

You have to state if it is per liter or per gallon. In the U.S. it's sold per gallon. And one gallon is about 4 liters. If it's 1 dollar/gallon, then it comes to about 25 cents/liter (that's about 75 Naira/liter).

APC dem mumus in government.

Fuel we are queuing to buy at N145 per litre.

Leadership is not rocket science - Osunbade.

braine:
Lol. What kind of rubbish is this? This is nonsense.

. Dis Govt has successfully deviate d minds of pple (esp d Youths, including Nairaland Mods & other e-populace) frm d real issue dat made dem win d elections. I bet u all, u all will regret ur support for dis Govt. Check all d LIES dey told when dey were campaigning, dey av denied dem all. Yet dey are still dancing wit people's intelligence dat dey would pay N5000 stipends in 2016. The solution to d quagmire d Govt finds itself is "Full Deregulation/Total Removal of Fuel Subsidy". Also, dey shuld privatise d NNPC, build more Refineries & create enabling environmt for Private Investors to build Refineries, then d price will fall on its own. GEJ wanted to do it in 2012 butTinubu and his (now) APC collaborators kicked against it. Now dey are left wit no option dan to go back to same decision dey kicked against then. Dat is y dey are LYING to d pple to see d best way dey can implement it without d pple complaining. 50k removal is nt somthg to rejoice abt becos PMS is already being sold for N200/Litre & it will continue in 2016 evn wit d new price being brandished by APC. And d VICIOUS CYCLE of Lies will continue. Thank you

negga4al:
Some of you here do not understand anything before coming to make useless comments. Do your research well and then understand. In the UK, it sells for about £1.40, covert that say how much.

Nigeria here will sell for less man a $1. Because world crude oil sells for less than $50, so then it should be sold for N5 in Nigeria?

Forgetting that a large sum is still refined outside the shores of Nigeria. Please, guys get your facts right!

http://data.worldbank.org/indicator/EP.PMP.SGAS.CD

Where did you keep this your stats and argument when GEJ wanted to remove subsidy?

Oh! I forgot. You were too busy fabricating lies with Lai Mohammed and making stoopid useless analysis with Fashola. So much for hypocrisy. Let God be your judge...

obailala:
Why is this government afraid of just deregulating this petroleum sector now?... Why cant they just throw subsidy away and deregulate now that oil prices are low?

Truth is APC is a monumental fraud!

asala1:


The average price of PMS around the world is 1.00 U.S dollars.

You are such a fool. I mean it.

Think dz govt is jokin wif our intelligent.am nt concern abt d reductn bt abt d availability of d prduct.

alienvirus:
Great development. Bringing down the cost of PMS has always been a challenging one. PDP/Obasanjo era was worse. Obj spent 8 years and increased the cost for 8 times.

I am pretty sure Buhari is doing a wonderful job up there.

God help the current leadership.

Wetin dis mumu dey talk

I thought they said this product was going to be reduced to 85 naira?

asala1:


The average price of PMS around the world is 1.00 U.S dollars.

That is a lie. It is more than that!

negga4al:
Some of you here do not understand anything before coming to make useless comments. Do your research well and then understand. In the UK, it sells for about £1.40, covert that say how much.

Nigeria here will sell for less man a $1. Because world crude oil sells for less than $50, so then it should be sold for N5 in Nigeria?

Forgetting that a large sum is still refined outside the shores of Nigeria. Please, guys get your facts right!

http://data.worldbank.org/indicator/EP.PMP.SGAS.CD

. What is the minimum wage in UK compared to Nigeria?

They should have made that fuel available first.

TPAND:
Age range of those that believe Sai Baba. 50years and above. If you are young and vibrant, below age 50 and you chant this Sai Baba thingy: You are nothing but a mediocre follow-follow.

I thought Jonathan was clueless. This one is headless.

Naaaaaaa! Those who expected overnight miracles, who wanted 5k largees, among other 'beautiful' lies were the youths, the change agents and not those who were around in the 80s when baba held sway. E go beta

lot of crab by dis rubbish kids who were sent to school by their parents hard earn money instead of paying back they come on nairaland to comment on a drunk OP article who want to gain attention



I pity u all


blablabla

talktrue1:
The change is in coins now

This one na Truetalk.

chaaaaanji

Kx:


Bros, this nation is not about individual be it GEJ or PMB.

I am as surprised by the mere 50kobo reduction as u are; but that does not give me the right to jump into conclusions without details.

My surprise will either turn into pleasant surprise when PMB give additional details of say massive govt savings i.e if the new price regime indicates complete removal of subsidy in view of the current global benchmark of <$40 per barrel of crude oil OR
disappointment if he says even with the mere 50kobo reduction, govt will still spend billions annually to fund subsidy payments to major marketers.

I am trying to be pragmatic. All I preach is wait until you get additional information to guide our collective positive or negative reaction.
Is that a tough ask?

Yes. Indeed, it is a very tough (t)ask.

Removal of fuel subsidy has been on the front burner in Nigeria for a long time, but each time it comes up for mention, the opposition then (ruling party now) always make it political to denigrate and deride the then ruling party and instigating people to bring the economy to a standstill. Now, that they are in power why are they going the same way they fought tooth-and-nail against and leveraged on to get into power?

I hope you do understand why it is a tough task now...

iwaeda:

Thank you jare,most filling stations in Ibadan,Ore,Akure sell above 130

Sorry man, petrol is now 87 naira in Ibadan. I bought 10 litres yesterday and the queues have gone. I was really surprised.

pls nairalanders,kindly tell them to add the 50kobo back o,cuz i can't queue for fuel and still go about looking for 50kobo change,coz my change no go remain for their hand o.

Has anyone seen Chief HYPOCRITE, Alhaji Babatunde Raji Fashola lately



www.nairaland.com/attachments/3115090_seunoloketuyi1223747310596353674000681876567738n_jpegf23910bd963a3dbb9d74ad4621bdda8b




www.nairaland.com/attachments/3117129_image_jpeg9f360c5ab7736510df54c882e9dbf188

Kikero112:


Again, why is it stewpid and unacceptable?

The drop in price in fuel has made it cheaper to import fuel....and as a result prices have fallen.

(I happen to believe that fuel subsidy must go, and I agreed with its removal in 2012).

I think that fuel should be sold at N150 per liter and above....ie subsidy goes. I also know most Nigerians won't like it.

What is the difference? I hope tomorrow will not come and I will hear supplementary budget to offset fuel importation (otherwise known as subsidy).

It is stewpid that we have crude and we keep importing. As bad as Niger republic is we import fuel from them, though unofficial. But that importation from them made the fuel cheaper in Kano at some point last year. The fuel sold for like N84.

Why can we be silly sufficient and be the major exporter of finished products to other African countries since we are faints of Africa.

the N86 price is in order considering it was N97 per litre which GEJ just reduced to N87 for the elections although we all knew GEJ would not have sustained it had he been re-elected.

Also given that we were important almost all our fuel, the devaluation of Naira would cause the fuel price to increase and that increase was offset by low fuel prices resulting from lower crude oil prices.

So achieving N86 down effectively from N97 is a very fair price given the devaluation of the Naira and the current exchange rate.