Siberia101:
Confused Government


During GEJ's era APC Faithfuls told us that a drop in crude oil price should result to a drop in fuel pump price


Now the story is different.... hehehehe


Hunger on the increase




#SenatorSamuelAnyanwu2019

otukpo:
This APC government is wicked.

skywalker240:
and NLC has been silent all this while

sanpipita:


The same NLC Nigerians criticized when they wanted to stand up against this govt, make una enjoy your change and stop wailing.

madridguy:
The fuel matter self don belleful person self. The NNPC should just maintain their lane and stop adding salt to injury.

eagleeye2:
Which kin wahala person enter for this Buhari regime? Tinubu e no go better for you.
,
Prophet, Onatisi you should come and talk to us oh.

madridguy:
The fuel matter self don belleful person self. The NNPC should just maintain their lane and stop adding salt to injury.

Mexyz:
Oh so you're now injured? Guy they need to add salt to that injury oo.

Somebody sai Baba

francotorti:

bros d mata tire me sef oo! everytin abt dis fulani man brings abt hardship, suffering n false hopes. at dis point i only wish him dead wit anoda apple n dis time na him wife go give am d apple herself ni.

fuckerholic:
Pls bubu where is the 45 naira per litre pump price you promised ? You see what desperation for power can cause ?

Oletty:
Nigerians don't seem to understand how bad things could get. Oil is an international commodity and refined products trade at a premium relative to crude oil. Years of subsidies have not only distorted the price of refined products but also killed productive enterprise by fueling wanton and unnecessary consumption not backed by an increase in productivity. The government is now too broke to regulate the price of PMS, diesel and kerosene. The markets will determine the price. If the government intervenes, there will be scarcity.

The good news is that a market-reflective price of petroleum products would make renewables (like solar PV) more competitive in Nigeria. With diesel at N200/litre, solar pays back in 6 to 7 years. And this excludes the health effects and noise pollution caused by burning diesel and PMS in generators. Think of all the future health liabilities like cancers that will result from these.

The government should let the markets determine the price of petroleum products and allow cost-reflective pricing of electricity. Without these, there will be little to no investments in power despite the best efforts of Fashola. Subsidies only work if they can be afforded. Nigeria today is broke and with oil probably going to stay low forever (yes, oil demand will start declining in about 15 years time as rich countries transition to alternative energy sources), this is the time to start building productive enterprises, encouraging entrepreneurs and investing heavily in infrastructure. Population control might also be necessary as the annual 3.3% population growth rate has already become an unsustainable time bomb. No country in the history of the world ever got rich while people procreated without restraint. In Europe, they managed this by shipping excess people to North and South America.

Grid electricity prices at N20-N35 ($0.05-$0.075) per kWh are a sham. These barely cover the cost of generation. No country in the world with round the clock electricity charges such low prices (except in the oil-rich Middle East) given that there are transmission and distribution costs still have to be factored in. What it means is that electricity in Nigeria is subsidized, which is why there is no electricity in the first place as no one would invest--yet we are willing to pay N70/kWh to run diesel and petrol generators! Dangote only opted to build his ongoing mega refinery when government assured him that the refined products market would be deregulated. When completed, his refinery would have a significant impact on the country. The same can be done for power. Deregulate and investors will come.

Development is not rocket science. It is the outcome of sound and progressive policies. We know the problems, we are so unwilling to tackle them head on.

madridguy:
I will stand with Sai Baba till the final whistle.

duni04:
Nigeria is in a serious dilemma. The variables affecting pump price are just too distant and unpredictable. If the price of oil goes up, our earnings from crude sale is supposed to go up to but those idiots in the delta, blowing up pipelines won't let it be. Then the IOC's that are supposed to sell more dollars to the marketers have less dollars to sell.
The our forex regime is another variable. The higher the value of the dollar, the more expensive it is to import.
These problems we're facing are relics from the past. The past managers of this country really failed us.