They obviously have no control over fuel price. Mentioning fuel price like say na una dey sell d fuel.

Why all this confusion? Who is really saying the truth

Una can lie oo

Good Price

naptu2:


http://www.premiumtimesng.com/business/business-news/202792-petrol-sell-n99-38-per-litre-without-subsidy-pppra.html







https://www.nairaland.com/3099487/press-statement-fuel-subsidy-removal

So, in other words....the reason why it is N145 is to enable marketers look for dollars in the parallel market to import....relieving pressure on Government forex stocks.

sparrowkid:
The little explanation for that is simple. Previously, they were giving the marketers FX through CBN at the official rate of N197. But now they have asked the marketers to source for their own forex at the rate of N285 N298 according to the Minister of state for Petroleum Resources yesterday on Channels TV. The PPPRA used the unofficial rate in the calculation.

Exactly!
Quite smart of you.
There are so many teenagers on NL.
I wish we can find a way of keeping them away from the politics/business section.

989900:
This is the true cost @ N197 to $1.

Yes....but unfortunately in practice most importers get it at N320 to $1 and above.

Have been asking God for forgiveness dat I voted busari abi nah buhari.........I just hope I will be forgiven......

BiafraBushBoy:
I voted out GEJ Cus of this fuel issue...

Buhari must go too....

Truly everything about you screams teenage, it will be a pity if I'm wrong.

sparrowkid:
The little explanation for that is simple. Previously, they were giving the marketers FX through CBN at the official rate of N197. But now they have asked the marketers to source for their own forex at the rate of N285 according to the Minister of state for Petroleum Resources yesterday on Channels TV. The PPPRA used the unofficial rate in the calculation.

Exactly.

And this has the added effect of reducing pressure on government savings....as well as dealing with the pesky problem of round tripping and diversion of fuel

Abeg who get palm oil and dry pepper make him borrow me make I take chop dis my bread

the only thing Nigerian's can do to the government is seat down and complain...pls quote me if I am wrong.."THE GOVERNMENT SHOULD BE AFRAID OF THE PEOPLE, THE PEOPLE SHOULDN'T BE AFRAID OF THE GOVERNMENT " tell me if we use this ideology what do u think will happen in NIGERIA or any country.

I hope they would implement it immediately

BiafraBushBoy:
I voted out GEJ Cus of this fuel issue...

Buhari must go too....

buhari must go, infact we need to start on Twitter sef , we nigerians are not fools, he's a liar and the most corrupt sef

Just negodi ndi apari.....

shachris02:


[size=13pt]abooki[/size] check my previous post to see if i support ipob.

it's **** like you that make the government feel that Nigerians are cool with whatever shiit they come up with.

hmuhammad:
what is this [size=13pt]iyamiri[/size] saying?

Nigerians are fantastic people! No one wants to carry last! We are all highly mouthed.

Just negodi ndi apari....

sparrowkid:
The little explanation for that is simple. Previously, they were giving the marketers FX through CBN at the official rate of N197. But now they have asked the marketers to source for their own forex at the rate of N285 according to the Minister of state for Petroleum Resources yesterday on Channels TV. The PPPRA used the unofficial rate in the calculation.

But what should stop them from giving marker fix through the cbn? It is all fraudulent. APC is simply a scam.

shachris02:
APC's governance is a pure disgrace.

I do not understand how the template can jump price so much in just one week?
So we are stuck with this fraud until 2019?
Anyway, just three more years and we can have BETTER change and end this chain that was sold to us.

TrumpDonald:
They obviously have no control over fuel price. Mentioning fuel price like say na una dey sell d fuel.

That was how the man campaigned and told us he will fix the price of oil.
LWKMD

One comic character in this administration is Kachikwu

Trial and error government.....

makazona:
Who exactly is in charge of our economy now? Because to me, the needed synergy between govt offices especially MoF, CBN & NNPC is non existent. Every one hypothesising and Nigeria the Lab.

We were told some months ago that with 40% increase in electricity tariff, there will be constant power supply...we have nothing but excuses now.

Subsidy has been removed unceremoniously with another promise of miracle...at a time when salaries are yet to be paid, Forex skyrocketing, Prices of basic commodities in geometric progression, inflation rate at all time high....

#Weareangry.

... and Nigerians are the Lab Rats

Since I got the hang of this government, I have ceased to bother myself. APC means well for the economy, but they are not knowledgeable about it hence the "try your luck approach" they are using for everything ranging from [b][/b]forex to budget to revenue diversification to fuel price to electricity tarrifs to stamp duties to fines and monetary policy fails

Nigerians should give them time... they will soon get the hang of it and perform

Where I dont trust this government is in security, rule of law, politics and ethnic inclusiveness

hmuhammad:
[s][/s]IPOB tout, no explanation will pass through your thick skull. Remember you hate PMB with passion, but he's going to govern you till 2023.

IN YOUR DREAMS

Rinato:
IN YOUR DREAMS

how many of you takes election serious? PMB till 2023

LadyExcellency:


How come the exchange rate when it has been revealed that we swapped crude for refined product while the refinery buys constituents we don't need out of it?

Do you perchance mean that Naira has been technically devalued hence holding/issuing N199/$ for/to any business concern is the greatest form of corruption which gives advantage to one business or class of people over others?

Exactly!

People like Dangote and their sanctufied Northern brothers will buy at 199 while the rest major importers of petrol are left to seek for theirs at 285.

Abagworo:
This is the reason

https://www.nairaland.com/3102474/subsidy-removal-pppra-pegs-naira

It was previously calculated based on control Dollar price funded by Government but scarcity of Dollar made them allow marketers source from parallel market at an agreed price of 298 Naira as against 199 Naira.

where will they get dollar at 298 naira....they are kidding...dollar closed at N345 on 12/05/16. and it will continue to rise because of demand..

About 67.6% increase in pump prize; how do we justify such increment with such frivolous calculations based on questionable FOREX exchange rate of 285 naira.

Ibe Kachukwu should stop deceiving us with unrealistic templates.

Ferraricash:
buhari must go, infact we need to start on Twitter sef , we nigerians are not fools, he's a liar and the most corrupt sef

who are you to generalize? I thought you said you aren't a Nigerian, so why are you using "we nigerians"?
PMB will govern u till 2023

[size=13pt]The mighty has fallen
the moving train has left its rail.
Our master's dollars keeps rising ,
as our naira crawls to match her pace.
Change not Pain we voted
with over 11 months gone, no changes made.
Yam eaters they all are ,
a transfer of deed from thief to thief.
Our old first man taking tour ,
taking a bite of foreign cuisines from every mall .
His wardrobe resembles that of a Persian King.
His nightly robe made from Arabian kilt.
Our old grandpa sings songs of Nigeria with a foreign accent .
His favourite colour is Peach not Green. ,
The flag with stars is what he loves,
not a divided crest of white and green[[/size]/quote]

hmuhammad:
you never voted for Buhari. You are amongst the 5%

Who knows if you've clocked 18 years? Children just full NL

:/ seriously ! What kind of statement is that He said he voted buhari and there u go saying he never did. Are we supposed to believe you or him. Funny how u so readily spring up to go against people and you are here talking about children. It's you who need to brush up your maturity level. QUOTE ME!