LuciferKristi:
It's not about the cost. It's whether the citizens can afford it.

Most Nigerians survive on less than $1 daily, how many can afford fuel at its current cost?

Rossikki:
Even the entire ''dollar a day'' calculation makes no sense. What one dollar will buy in Nigeria, twenty dollars cannot buy in America.

For instance a plate of Eba and Egusi in Nigeria will cost you maybe a dollar at a cafe. In America it will cost you over twenty dollars at a Naija restaurant.

Chepos1:

US should not try any rubbish cus I want to migrate to that region ASAP.

Chepos1:

US should not try any rubbish cus I want to migrate to that region ASAP.

theoldpretender:


OKAY....time for some more facts....



So why would Maduro be removing a fuel subsidy that in your own words....did not exist?



Here is some more....



Still think I goofed again, son? Or is it...beautiful daughter?

(I love you google!)

President Nicolas Maduro said Monday that some of the world's cheapest petrol that Venezuelan drivers enjoy will soon be sold at world market prices to combat rampant smuggling.

"Gasoline must be sold at an international price to stop smuggling to Colombia and the Caribbean," Maduro said in a televised address.

Venezuela, like most oil producing countries, has for decades subsidised fuel as a benefit to consumers. But its fuel prices have remained nearly flat for years despite hyperinflation that the International Monetary Fund has projected would reach 1 million per cent this year.

That means that for the price of a cup of coffee, a driver can now fill the tank of a small SUV nearly 9,000 times. Recently, the average price of a coffee with milk was 2.2 million bolivars, or about 50 cents, local media has reported.

Smugglers do brisk business reselling fuel in neighboring countries. SOURCEl.

erico2k2:

yes Sir, I do its when the Gov of the day pays the diff in price for its citizens to buy the said product cheap.
How it relates to your nonsense is this, the Ven Fg head Nicolas Maduro, is cutting down the Subsidy, the price hike as we speak is up to 600% to checkmate a 50% Inflation.I seriously do not know what you are ranting about, I si mply corrected ur assumptions that there arent no subsidy in Venuzuela.

DonroxyII:
Where did the dude went wrong . He said the standard of living in Nigeria is poor that is why we can not afford to buy fuel at #147/L ...... Countries with higher value per litre has better standard of living than Nigeria .... What is wrong in that ?

UrbanMetahuman:
reading and comprehending hard you o

This will be my last quote though. I only explain things to those who really want to learn.


subsidy means; A sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low.

e.g, cost of importing petrol into the country is around 190-200, but government subsidies it to keep it 145 by granting extra sum of money.


now to you article


venezuela is trying to increase the price of fuel to checkmate smugglers that are smuggling fuel out of the country cos its cheap to make extra money in another country thereby causing scarcity at home.

its like marketers getting subsidized fuel from nigeria and smuggling it to ghana to sell for extra income thereby causing scarcity at home.. (does this ring a bell?)

increasing the price will make it less lucrative for smugglers. they also planned to keep current rate for registered vehicles in the country cos i could see you omitted that from your article for obvious and dubious reasons.



again, it is not the reason for hyper inflation or economic problem. pick your comprehension books again.

anyhoo, that would be all from me.. take care.

Rossikki:


Don't mind them. It is too tasking for them to engage heir own faculties to decipher the truth. If the World Bank came out and said that most Nigerians survive on less than 5 Naira a day, they will still come here and regurgitate that statistic without question. Thoughtless robots.

erico2k2:

Dont always believe evrything you read, howmany people do you personaly know who earn N300 per day ??

oladele00:
He took over a calamitous Nigeria from the clueless Ebele Jonathan.. Have you forgotten about the recession so soon?.. The recession was the man reason for the increase

Rossikki:


Don't mind them. Nigeria has over 120 million phone lines connected, the largest in Africa.

How is that possible if majority of us live on less than 1 dollar a day? That is just Phone o. Not to mention food, rent, school fees, clothes, transport. Mumu people.

oladele00:
Vote for PMB again and baba will reduce the price of fuel to 45naira.. God bless PMB

theoldpretender:


1.Liberia, Sierra Leone, Ghana, Cameroon, Ethopia, Uganda...don't have a higher standard ofliving than Nigeria....and they pay more for fuel.

2. We need fuel to be at $140 per liter to pay for subsidy, and to pay for everything else. Right now...it is at $70.

3.If we keep fuel at N145...we would keepon wasting money...

4.Here is how subsidy works. Assume you were selling yam. You sell yam at N800 per tuber to make a profit of N200 per tuber. Government forces you to sell at N200 per tuber and pays you N300 as 'subsidy benefit'...leaving you with a deficit of N300 per tuber...tellme, would you keepon selliung yam?

5.GSM was deregulated from the word go.Initially we paid N10000 for sim The GSM companies took the money, spent it on infrastructure and providing jobs...and soon prices dropped due to competition and increased investment...because GSM companies were allowed to make profitswithout subsidy. If we do the same for fuel......prices will rise to N300 or more....but would eventually drop as more andmore investors come into the country....since they can now make money without government forcing them to sell below profit in the name of subsidy. Need I say there will be more jobs too.

LuciferKristi:
It's not about the cost. It's whether the citizens can afford it.

Most Nigerians survive on less than $1 daily, how many can afford fuel at its current cost?

theoldpretender:


You missed the part where VENEZUELA was said to have been subsidising fuel for decades!

OK.....you don't want to admit you lost. Good evening. Ihave tried!

You said there was no subsidy...then after I pointed out there was a subsidy...you started defining subsidy for me...and then you pointed out that Venezuela is subsidsing fuel for registered citizens....

The problem is, you want cheap fuel, even itf the govt has to drain the treasury for it. That does not make economic sense.

Go and read the two articles I gave you.

Venezuela has been subsdising fuel for decades. QED.

DonroxyII:
How do you think , Yours is irrational ....
Why do the government need to subsidize in the first place ..... Why can't we make our Refineries to function ..... Would any sane country operate petroleum the way Nigeria is doing ? ......

Yes, we want cheap fuel because we don't deserve to pay for more ..... Based on minimum wage in Nigeria as well as per capita , Fuel shouldn't be more than 40/litre ..... Yes ..... What is wrong with that ......

Why do we export the raw materials and import the finished goods ..... at a cost of raw materials plus cost of finished goods and plus profit margin .... Then you transferred all these stupidity over to your citizens .

Then further depletes the foreign reserves under guises of subsidy payments ..... Failed states , Failed analysts !!

Lumig:
With this, I will say Nigeria is not doing too bad. Even countries that we regard as "heaven on earth" are not on the list. Though nothing bad in asking for more [Oliver Twist]

theoldpretender:


That is the truth....but most Nigerians love their free fuel.

And long term...it could even bring in foreign investment...and price reduction via competition.

Ah well....

theoldpretender:


1. Even if our refinereis function at full capacity...we still need to import at least 50million liters of fuel a day

2.It costs 9billion to build a new refinery....and we need 4 or 5 new ones.

3.Even if we build new refineries...the owners still have to make a profit.....

erico2k2:

Dont always believe evrything you read, howmany people do you personaly know who earn N300 per day ??

Chepos1:
4 naira?

UrbanMetahuman:
good boy.. now read the post you initially jumped on to like a puma 100 times. and point to the wrong assumption.

tmtech:



it's 1million bolivar and the Money is actually worthless and fuel is not a problem in Venezuela , not even electricity sef in most parts there. the major issue is food and drug cos of the sanction and thus d vey high inflation

GrammarNazi1:
...these things.