bigfish3k:


if u are not a BMC, please stop repeating all the fake economic jargons they reeled out in 2016 to deceive us when they wanted to increase fuel price to N145

See my explanation to you upthread.

kingaruoture:
[color=#990000][/color]

Instead of encouraging the Government to increase pump price of PMSwhy not encourage them to improve on the situation of our electricity.. Can't constant electricity bring about inflow of foreign investors?... We be careful while give advice. Thank you

Electiricty is another issue.

1.Basically, Nigeria subsidises electricity.

2.Meanhwile the amount of money needed to fix power to a level that attracts investors is low. The DISCOS are not raising enough cash, as are the GENCOS.

3.Because bill costs are kept artifically low...the government is taking loans to bail out the DISCOS.

As a result the power sector is short of cash...and can't raise the $900bn needed over 30 years to fix power.

tragergeorge:
travel and see okay,,even their citizens can't afford proper meal,,when some my dudes came to 9ja from GH,de testify,,, to dollar dem carry come get value here pass dia ,,convert the cost of a meal in a fast food in GH to dollar,,, its way higher than 9ja meals ,,my guy things changed high cost of living no only took a turn in 9ja,,na almost everywhere,,na unemployment be the problem we get

that should tell you how valuable the Cedi is



Just small 1000 cedis will make you party in Abuja all month and even buy Abuja

tragergeorge:
oil wen d price crash by more than 100%and ur country depends on just oil�

if u build refineries and give us stable electricity plus security. WHO CARES ABOUT UR INCREASE.
just do : First Things First

Telkart19:


1. In 2016...it cost N132 to import one liter of fuel. Fuel was costing N87 at the pump....thus the government removed subsidy by raising prices to N145.....which eliminated the N40-50 subsidy being paid per liter.

2.However....subsidy was still in place. Because...the government was still setting the price.

3. Note...governments have been doing this in Nigeria since the 1970's....they remove subsidy, set a price, and keep fuel at that price till the cost of production or importation rises above the set price...then they pay a subsidy to maintiain it at that fixed price...till it becomes unsustainable...at which prices shoot up again...to a new set price...and the show continues.

4. Now...landing costs is N200. Government is selling fuel at N145...and paying underrecovery (subsidy) of N55-60 PER LITER.

5.However, as fuel prices are too low...and revenue is falling...the subsidy has to go again. So...goverment may have to raise prices.

6.iDEALLY....government should stop setting prices, and allow the petrol makreters to set what price they see fit. Problem is, prices may shoot as high as N300..BUT...since no one is controlling prices, that makes things like new refienreis possible...and crucially profitable.

7.Investors flow in, more refienries etc get built...and production icreases...meaning prices FALL.

please , how are other countries that have oil do it to the benefit of her citizens. do they keep on importing?
why not the govt build refineries and sell.

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

First, b4 this govt started paying 2tr a year on subsidy, how much was it paying b4?

Second, how much has buhari saved for Nigeria by increasing fuel from 85 to 145naira a litre which an increase of 60naira?

According to u:

"Government can use the savings for things like educaiton, health, etc."

So all d yearly budgetary allocation govt meant for education & health, what has been done with them? Is it d 2tr being used 4 subsidy that will suddenly improve education & health?

lexy2014:


First, b4 this govt started paying 2tr a year on subsidy, how much was it paying b4?

Second, how much has buhari saved for Nigeria by increasing fuel from 85 to 145naira a litre which an increase of 60naira?

According to u:

"Government can use the savings for things like educaiton, health, etc."

So all d yearly budgetary allocation govt meant for education & health, what has been done with them? Is it d 2tr being used 4 subsidy that will suddenly improve education & health?

Yes, especially as the N800bn and the N700bn we spend on health and education respectiovely is not enough.

Just30:
that should tell you how valuable the Cedi is



Just small 1000 cedis will make you party in Abuja all month and even buy Abuja

lol funny boy,keep dreaming,,,if you pick 1k dollar for 9ja u b big boy,,but for GH ,,ur one month rent don finish d money,, bottle of beer na almost times two compare with here,,a year you likely to spend 4m in GH compare to 2m here for same expenses

Telkart19:


1. In 2016...it cost N132 to import one liter of fuel. Fuel was costing N87 at the pump....thus the government removed subsidy by raising prices to N145.....which eliminated the N40-50 subsidy being paid per liter.

2.However....subsidy was still in place. Because...the government was still setting the price.

3. Note...governments have been doing this in Nigeria since the 1970's....they remove subsidy, set a price, and keep fuel at that price till the cost of production or importation rises above the set price...then they pay a subsidy to maintiain it at that fixed price...till it becomes unsustainable...at which prices shoot up again...to a new set price...and the show continues.

4. Now...landing costs is N200. Government is selling fuel at N145...and paying underrecovery (subsidy) of N55-60 PER LITER.

5.However, as fuel prices are too low...and revenue is falling...the subsidy has to go again. So...goverment may have to raise prices.

6.iDEALLY....government should stop setting prices, and allow the petrol makreters to set what price they see fit. Problem is, prices may shoot as high as N300..BUT...since no one is controlling prices, that makes things like new refienreis possible...and crucially profitable.

7.Investors flow in, more refienries etc get built...and production icreases...meaning prices FALL.

So y has d govt not fixed d refineries?

bigfish3k:


please , how are other countries that have oil do it to the benefit of her citizens. do they keep on importing?
why not the govt build refineries and sell.

1.Other countries sell oil at a higher price than does Nigeria

2.You cannot build refinereis and sell fuel from the refienres at a loss in the name of subsidy. That's a part of why our old refineries don't work.

lexy2014:


So y has d govt not fixed d refineries?

Because subsidy prevents NNPC from making enough of a profit to fix, upgrade and build new refienries.

Here is how subsidy works.

I am buying shirts, at N3000 a piece, to sell at N4000 a piece.

Government intervenes, and tells me to sell my shirts at N2500 a piece, while they dash me N500 as subsidy for every shirt I sell.

Meaning...I don't have enough of a profit to buy new shirts, or even pay employees....so I either stop selling shrits, or continue selling at a loss.

Apply that to the fuel sector.

Telkart19:


Yes, especially as the N800bn and the N700bn we spend on health and education respectiovely is not enough.

lexy2014:

So all d yearly budgetary allocation govt meant for education & health, what has been done with them?

Can u give a breakdown of d 800b& 700b so we can no how they aren't enough?




Pls answer d other questions I asked:

lexy2014:


First, b4 this govt started paying 2tr a year on subsidy, how much was it paying b4?

Second, how much has buhari saved for Nigeria by increasing fuel from 85 to 145naira a litre which an increase of 60naira?

According to u:

"Government can use the savings for things like educaiton, health, etc."

So all d yearly budgetary allocation govt meant for education & health, what has been done with them? Is it d 2tr being used 4 subsidy that will suddenly improve education & health?

bigfish3k:

if u build refineries and give us stable electricity plus security. WHO CARES ABOUT UR INCREASE.
just do : First Things First

wen I become president by 2035 I'll fix that

Telkart19:


Because subsidy prevents NNPC from making enough of a profit to fix, upgrade and build new refienries.

Here is how subsidy works.

I am buying shirts, at N3000 a piece, to sell at N4000 a piece.

Government intervenes, and tells me to sell my shirts at N2500 a piece, while they dash me N500 as subsidy for every shirt I sell.

Meaning...I don't have enough of a profit to buy new shirts, or even pay employees....so I either stop selling shrits, or continue selling at a loss.

Apply that to the fuel sector.

How does subsidy prevent maintenance of refinery? Is it our refineries that are producing d fuel Nigeria is consuming?

Telkart19:


1.Other countries sell oil at a higher price than does Nigeria

2.You cannot build refinereis and sell fuel from the refienres at a loss in the name of subsidy. That's a part of why our old refineries don't work.

u mean other oil producing countries like saudi arabia sell fuel at a higher price than us?
what i meant was that govt should build refineries and sell it off to private investors so that we can be refining here without all these landing cost jargons

lexy2014:


How does subsidy prevent maintenance of refinery? Is it our refineries that are producing d fuel Nigeria is consuming?

Glad to be of help.

bigfish3k:


u mean other oil producing countries like saudi arabia sell fuel at a higher price than us?
what i meant was that govt should build refineries and sell it off to private investors so that we can be refining here without all these landing cost jargons

Even with that...you would still be paying higher for fuel...not lower.

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

Dis guy na fool.

hecomeshome:


Dis guy named fool.

Thanks for naming me.

Good day, sir.

Telkart19:


Glad to be of help.

U werent of help. U were only defending d indefensible. Unfortunately, u have run out of steam

Telkart19:


Even with that...you would still be paying higher for fuel...not lower.

how?

lexy2014:


U werent of help. U were only defending d indefensible. Unfortunately, u have run out of steam

Glad to be of help .

Islie:



• Senate moves to protect indigenous airlines, probes unfair competition





https://m.guardian.ng/news/nnpc-hints-of-fuel-pump-price-rise-says-n145-cheapest-in-west-africa/

lol...they should increase it please....maybe that's will lead to the toppling of this stupid government

Telkart19:


Glad to be of help .

Am yet 2c d help

bigfish3k:


how?

...do you expect private investors to recoup their investments.?? Sell at subsidsed prices...sell at a loss in other words?

Besides, with oil prices at an all time low, I doubt government has money to build refienries. (Yes, they have money for ruga...but the money needed for one refienry is ten times that of the ruga things.)

lexy2014:


Am yet 2c d help

Go ask Alice.

bigfish3k:


u mean other oil producing countries like saudi arabia sell fuel at a higher price than us?
what i meant was that govt should build refineries and sell it off to private investors so that we can be refining here without all these landing cost jargons

How will they steal money if they fix d refineries? There's d corruption side 2 it& d dude is trying to put rub Mary Kay on an ugly situation

Telkart19:


Go ask Alice.

Thats good cos u just confirmed what I said earlier

lexy2014:


U werent of help. U were only defending d indefensible. Unfortunately, u have run out of steam

lexy2014:


Thats good cos u just confirmed what I said earlier

Go ask Mary

Telkart19:


Go ask Mary

Mary, Alice or Martha, it doesn't matter. d bottomline is this:

lexy2014:

U werent of help. U were only defending d indefensible. Unfortunately, u have run out of steam

Telkart19:


...do you expect private investors to recoup their investments.?? Sell at subsidsed prices...sell at a loss in other words?

Besides, with oil prices at an all time low, I doubt government has money to build refienries. (Yes, they have money for ruga...but the money needed for one refienry is ten times that of the ruga things.)

i learnt its about $5b. but how much did we fine MTN again, remind me. we just lack the political will not the money. we can as well borrow
but we have been spending billions of dollars unnecessarily looking for oil in the north
and now this RUGA shit that will bring all the fulani foreigners to nigeria

btw, how did MTN and co recover their monies back

tragergeorge:
lol funny boy,keep dreaming,,,if you pick 1k dollar for 9ja u b big boy,,but for GH ,,ur one month rent don finish d money,, bottle of beer na almost times two compare with here,,a year you likely to spend 4m in GH compare to 2m here for same expenses

Of cause

1000 USD is big money in poor countries
everything in Nigeria is of lesser quality


A bottle of beer is expensive in The USA, Germany and all countries with higher standard of living