Am very sure my naija people go they rejoice now, if u aware of the amount this people have gotten so far ehhhh... they should tell him to realease money to build center to take care of people with d virus that’s what we need the most now

bonnyhope:


Are you satisfied with the 125/L?
That amount is still high compare to the % reduction in the crude oil price

yes am happy. So?

Aladdin1:
MY FRIEND STOP TALKING NONSENSE!!.ABAH!!!

typing on full caplock clearly show how frustrated and sad person you are in life. Even if fuel is free it won't change anything for dingbat like you.

A leader who doesn't know what the people need is NOT a leader.

hisgrace090:
Long overdo!

una be fools be ready to buy at 200 a liter

sotall:
The person who did the mathematics is mad!

Crude oil price crashed from $70 to $30.


That's more than 50% reduction.

Price of fuel was 145 naira....now it should be about 70 naira.



This government is scam

Chile Obi na your father

Iyiataata92:
Mele Kyari/Abba Kyari
Whats even the difference?

20 naira only.

sotall:
The person who did the mathematics is mad!

Crude oil price crashed from $70 to $30.


That's more than 50% reduction.

Price of fuel was 145 naira....now it should be about 70 naira.



This government is scam

An on the seventh day he rested. If God knew one of his creation would be diz stupid, he would hav created another man

Stupid man. It's now that public places have been closed and you are advised to stay indoor that this stupid clueless government decided to reduce fuel price. Rubbish, ndi ara������

sotall:
The person who did the mathematics is mad!

Crude oil price crashed from $70 to $30.


That's more than 50% reduction.

Price of fuel was 145 naira....now it should be about 70 naira.


This government is scam

We don't buy crude, rather we sell it and buy the finished product. And there is no indication that price of finished product dropped by 50%.

The crash in oil price will mean less income to the government, hence it is not a factor to use in determining price of the finished product.

Mailthaddeus:


We don't buy crude, rather we sell it and buy the finished product. And there is no indication that price of finished product dropped by 50%.

The crash in oil price will mean less income to the government, hence it is not a factor to use in determining price of the finished product.

I'm at a loss how we can have crude oil all these years and still cannot process it. With all the PhD and graduates we have in this country.

badmrkt:
What about those who bought @133.28 per litre from the depots??

if the news was to increase fuel to 180 naira would you have ask the same question? The problem of this country is the citizens

Thank you, Jesus. He go better!

goes to show that the government intentionally kept fuel prices high as they can freestyle with it anytime.

uuzba:

I'm at a loss how we can have crude oil all these years and still cannot process it. With all the PhD and graduates we have in this country.

Processing crude oil is the easiest thing anyone can do. It's a simple process of fractional distillation. Even militants do it in the creeks to sell diesels. However, it's capital intensive. Imagine how many billions of dollars Dangote has spent in his refinery. The Government just needs to build a working refinery that can serve the nation.

Something that will still take time before it's implemented
Well, for your smart TVs, ACs and Soundsystems, check my signature

I saw hundreds of trucks loading at the depot in apapa on Tuesday and Wednesday. What is their faith in this price reduction? because am sure they bought it at the old price.

obailala:

Another pointless political move by the government.

The current low oil price presents a fantastic opportunity for the govt to do away with the subsidy regime for good. But instead, they choose to still modulate / control and peg the price. What then happens when oil price rises again?

You got it spot on. The FG missed a golden opportunity in 2015 and they are throwing away another opportunity now. Instead of announcing a reduction in pump price and fixing the price, it should be announcing a complete deregulation of the market.

The truth is that as with the subsidy regime, this reduction benefits the middle class who have cars more because transporters will likely not reduce bus fares. They will just pocket a higher margin.

And what happens if crude should hit $65again? Does the price go back to N145? Or does it go to the commensurate price of N200?

The FG should deregulate the damn thing and let the significantly higher efficiency of the private sector take over. When did we ever have a fear that diesel would be scarce. It was not possible because its a deregulated product. Since kerosene was deregulated, I have not heard of it being scarce!

This is a stupid political move meant to pander to voters. We need a government that can take the hard decisions for the Long term benefit of the country.

I don't even understand the functionality of labor union, the price was approximately reduced by 50% globally and we are celebrating #125 here. Scam

tete7000:
I will expect they will retain the price, save and use it to subsidize in future, rather than coming back later to tell us when the price goes up that the subsidy is not sustainable.

This might cruelly have been a sensible alternative. However for me, they should just simply deregulate the market.

todaynewsreview:
In compliance with the Federal Government directive after it's weekly Federal Executive Council (FEC) meeting, the Nigerian National Petroleum Corporation (NNPC) reviewed pump price all over the country to N125/litre. This is contained in a press release via their Twitter handle. Screenshot below:



https://mobile.twitter.com/NNPCgroup/status/1240317696732004352

Still too high considering the current crude oil price and reduction introduced in other zone...!!

Reduction should have been atleast in the range of N80 - N90 per litre but Nigerians been docile would still shout and say its a welcome development..!!

Nobody want to do some comparative Arithemetic...!!

what a useless and meaningless move.

Buhari's greatest achievement since 2015.

BLESSICA:
If you need financial help, send me your account number via 07038394724

Manage any amount you see.

Stop sending messages to the number, that's my number up there and I was not the one that posted it

This government keeps on scamming us. Crude crashed from N70 to N30 and the government is selling at N125. Maybe I don't know my math again or somebody is being tricky.

arewa001:
Buhari's greatest achievement since 2015.

This is not an achievement.it is a circumstance price reduction that nobody is sure where the circumstance is leading us to

DEmejioba1:
U get problem Sr.

And you get no sense.

maak400:
This move should ordinarily reduce transport fare and the prices of other commodities in the market, but in naija when prices go up, it never comes down. It always defy gravity

Like the price of petrol right?

arewa001:
Buhari's greatest achievement since 2015.

How is this an achievement?

Peanut diggers

sotall:
The person who did the mathematics is mad!

Crude oil price crashed from $70 to $30.


That's more than 50% reduction.

Price of fuel was 145 naira....now it should be about 70 naira.



This government is scam

Crude oil is not the same thing as petrol. The latter has cost of refining and transporting, and seller margin.