Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,585 members, 7,958,812 topics. Date: Thursday, 26 September 2024 at 02:30 AM |
Nairaland Forum / Nairaland / General / Politics / Deregulation: Petrol Consumption Falls By 30%, Says FG (35743 Views)
Kachikwu’s Guesstimate On Petrol Consumption / Bakare: Why I Support Buhari On Deregulation And Opposed Jonathan / Petrol: No Alternative To Deregulation- FG (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Deregulation: Petrol Consumption Falls By 30%, Says FG by Islie: 7:35am On Jul 09, 2016 |
Okechukwu Nnodim, Abuja http://punchng.com/deregulation-petrol-consumption-falls-30-says-fg/ 13 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by SeverusSnape(m): 7:36am On Jul 09, 2016 |
True, Many people can't cope with the new price. The hardship in the country isn't helping issues, many people have parked their vehicles and are now using public transport. But some months (and years) back, One dullard said there's nothing like subsidy. 150 Likes 11 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Vendoor(f): 7:41am On Jul 09, 2016 |
“Today our consumption of fuel has gone down by 30 per cent; we have no queues in the filling stations; we have one and a half months of self sufficiency; we have strategic reserves in place that we are putting together and we have a funding scheme to enable the downstream to be able to adequately fund itself. This feels good 10 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Adesiji77: 7:44am On Jul 09, 2016 |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by greatness22(m): 7:45am On Jul 09, 2016 |
Why won't it fall drastically? Some Nigerians can't cope with the new price. 40 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by mrvitalis(m): 7:48am On Jul 09, 2016 |
And we paid subsidy for the 30% for years.. . Who actually benefited from this things PDP was a cancer we actually removed 131 Likes 6 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by PRYCE(m): 7:48am On Jul 09, 2016 |
Noted! |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by pdppower: 7:52am On Jul 09, 2016 |
Yes, it has reduced but our cost of living has increased by 300 percent. 103 Likes 4 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Impenia: 7:57am On Jul 09, 2016 |
Two possible theories responsible for the drop in consumption: (1) High price of PMS together with the increased level of hardship has inadvertently reduced demand for the commodity. (2) Due to complete subsidy removal, the true consumption of PMS is becoming apparent. Most of the figures bandied about in the past by PPPRA may have been deliberately padded just to get subsidy from government on those extra numbers. 238 Likes 15 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by GenWOJUOLA(m): 8:02am On Jul 09, 2016 |
Why wouldn't it drop? When d price of a good increases by about 80%, d demand would have to drop too.I hav parked my car, two of my neighbors have also parked theirs, d oda sold his wife's car. What Buhari failed to understand is that everything in this country runs on fuel!!!! The barber, the restaurant, manufacturing industries, even govt offices! With increase in cost of goods nd no increase in purchasing power, wat did Kachikwu and co expect People would reduce consumption and as such manufacturers would also reduce output and by extension reduce the qty of fuel purchased to run their factory. 63 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Burger01(m): 8:13am On Jul 09, 2016 |
Of course... This is expected. Next would be the crash in pump price. 12 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Burger01(m): 8:19am On Jul 09, 2016 |
mrvitalis:We did the right thing by booting out that ineffectual buffoonnnnn 44 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nne5: 8:42am On Jul 09, 2016 |
. GenWOJUOLA:. Haha this bro is vexed oo 13 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Fyno: 9:37am On Jul 09, 2016 |
Burger01:Akpamu 44 Likes 2 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by tuniski: 9:40am On Jul 09, 2016 |
mrvitalis:U need comprehension skills! 30% drop in consumption of fuel is a direct hit on GDP and overall economic well being of the nation. It simply means we are heading to depression! The economy is in terrible state. 111 Likes 8 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 9:43am On Jul 09, 2016 |
30% increase in price and 30% reduction in contribution to GDP Buhari sef 16 Likes 2 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by drss(m): 9:48am On Jul 09, 2016 |
tuniski:u dey mind zombies. one tin dat characterize emerging economies is energy consumption. america n china ar not economic world powers for notin. dem both dey consume high amount of fuel n dem apetide dey increase daily. once again d dullard has succeeded in destroying d economy. 60 Likes 4 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by doctokwus: 9:55am On Jul 09, 2016 |
Keneking:Let's forget all d figures previously bandied about in regards to all of our economic and social indices, almost all were corruption driven. We are about to start knowing the true state of our economic demands and supplies 14 Likes 2 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by TANTUMERGO007(m): 10:01am On Jul 09, 2016 |
Keneking:I dont want to believe that severussnapes sold the last wailing form to you. lwkmd its good to see you wailing 21 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by ivandragon: 10:01am On Jul 09, 2016 |
SeverusSnape: it is only under this regime that hardship is celebrated as an achievement. 53 Likes 4 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by mistasameer: 10:16am On Jul 09, 2016 |
tuniski: Actually it doesn't affect GDP in the way which you have portrayed. Gross Domestic Product roughly explained is a measure of the monetary total exports of all goods and the services by a country in a given fiscal year. The drop will better be explained by the fact that since deregulation, it has become less/marginally profitable for profiteers who would usually smuggle fuel already subsidized to "neighboring" countries to sell. 43 Likes 3 Shares |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by omowolewa: 10:30am On Jul 09, 2016 |
Smuggling to neighboring countries are no longer lucrative. Reduced consumption especially on generators Elimination of padded data for subsidy scam Increased local production within the creeks Reduced purchasing power due to economic hardship. 23 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by designking: 10:42am On Jul 09, 2016 |
Smuggling and roundtripping stopped because it is no longer beneficial. Demand does not just drop drastically this way because of a suppose increase in pump price. Petroleum price has always been way higher than N100 in most part of the country even when government was subsiding it. I see little change in the lifestyle of most Nigerians as regard their previous fuel consumption. My family run a petrol station and our current total daily sales per litre has always averaged as that of several months back. The question to ask is why is the product suddenly available nationwide? 26 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 10:54am On Jul 09, 2016 |
pdppower:That's not totally true. Yes there's high cost of living but it hasn't gotten to that rate 2 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by papinx(m): 10:57am On Jul 09, 2016 |
Before nko |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by emymeeky: 10:57am On Jul 09, 2016 |
so subsidy was removed as against their excuse of dollar rate affecting the price of petrol . I don't see low consumption as a feat. I think it's a decline in our standard of living . Small scale businesses requiring the use of generators for power supply can no longer operate due to high cost of petrol. How do you justify the high cost of transportation and the resort to trek to workplaces to and fro as an achievement of deregulation? 6 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 10:58am On Jul 09, 2016 |
This means that the economy has nosedive. People are no longer driving to work because there's no work. People no longer fill up their generator because no spare cash. In short the economy is finished. 13 Likes 1 Share |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by enteriese: 10:59am On Jul 09, 2016 |
Wat do you expect |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Spells(m): 10:59am On Jul 09, 2016 |
It shall b well with my country Nigeria, this I pray. 3 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by maestroferddi: 11:03am On Jul 09, 2016 |
Confused government... Remember that we were told that the pump price of fuel would crash after one month of the obnoxious price regime. What do we have instead? For the first time in the history of Nigeria, fuel sells at N145 while kerosene and diesel sell above N200. 9 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Godjone(m): 11:04am On Jul 09, 2016 |
Buhari and Osunbade should go and drink the oil. The hike in price of the product by the Dollard is responsible for this quagmire. Buhari is an economic disaster, a terrible and stack illiterate 8 Likes |
Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by jef131: 11:04am On Jul 09, 2016 |
Petro smuggling has reduce or eliminated 1 Like |
(1) (2) (3) (4) (5) (6) (Reply)
FG Begins Construction Of Benin-Auchi-Okene Road (Pics) / The Sorry State Of Nigeria Under President Muhammadu Buhari / Uju Ndubuisi Chukwu Found Dead In South African Hotel
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42 |