u read d tweet:

ANNOUNCEMENT: The official Price of Petrol in Nigeria is now N125 per Litre. A Price Modulation Mechanism is being introduced, to be managed by the Petroleum Products Pricing Regulatory Agency (PPPRA), to henceforth adjust the price in line with the market price of crude oil.

- https://twitter.com/NigeriaGov/status/1240318731781386242

did u miss it?
lemme ep u joor -
"A Price Modulation Mechanism is being introduced, to be managed by the Petroleum Products Pricing Regulatory Agency (PPPRA), to henceforth adjust the price in line with the market price of crude oil."


so.
d deed is done.
without d slightest hint of noise, protest or discussion.
did I predict dis one dis year?
I'll have to check.
enjoy!

Elaborate please thank you

For deregulation to happen, the government has to announce that

1. It is no longer setting the price of fuel

2. Pricing is now in the hands of oil companies and marketers

As long as government fixes a price, it is not yet deregulated. That's why I always laugh when people say GEJ tried to deregulate PM's in 2012 when he also fixed a price.

DZTech:
u read d tweet:
- https://twitter.com/NigeriaGov/status/1240318731781386242

did u miss it?
lemme ep u joor -
"A Price Modulation Mechanism is being introduced, to be managed by the Petroleum Products Pricing Regulatory Agency (PPPRA), to henceforth adjust the price in line with the market price of crude oil."


so.
d deed is done.
without d slightest hint of noise, protest or discussion.
did I predict dis one dis year?
I'll have to check.
enjoy!

DZTech:
u read d tweet:
- https://twitter.com/NigeriaGov/status/1240318731781386242

did u miss it?
lemme ep u joor -
"A Price Modulation Mechanism is being introduced, to be managed by the Petroleum Products Pricing Regulatory Agency (PPPRA), to henceforth adjust the price in line with the market price of crude oil."


so.
d deed is done.
without d slightest hint of noise, protest or discussion.
did I predict dis one dis year?
I'll have to check.
enjoy!

Nothing to see here.
Price fixing is the opposite of deregulation.
When was the last time the government announced the price per kg of Garri?
That is your cue.

Xisnin:

Nothing to see here.
Price fixing is the opposite of deregulation.
When was the last time the government announced the price per kg of Garri?
That is your cue.

in developed nations, many deregulated products r under caveat of govt's ditrect management- from petrol and diesel to dairy products.
in d us, govt gives farmers subsidies or buy up excess stock- just to stabilize prices.
d UK govt regulates pump price on a regular basis, pardon d pun.
grants and stimulus packages r also ways of helping specific industries.
so when prices change with external factors, it's deregulated- despite occasional govt interventions.

Xisnin:

Nothing to see here.
Price fixing is the opposite of deregulation.
When was the last time the government announced the price per kg of Garri?
That is your cue.

how many direct govt subventions do farmers enjoy?
fertilizer, seedlings, tools, training, etc?
and u still think d price of ur garri is market driven?

ojesymsym:
As long as government fixes a price, it is not yet deregulated. That's why I always laugh when people say GEJ tried to deregulate PM's in 2012 when he also fixed a price.

d price in 2012 was d exact price of a litre as landed in a filling station, based on source at d time- d us.
interestingly, it was also d naira equivalent price of 1 litre of petrol in d us, as at 31/12/2011.
considering wholesale purchase, transportation costs, etc I expect d marketers had a healthy margin.
I checked.
u can too

kikero:
For deregulation to happen, the government has to announce that

1. It is no longer setting the price of fuel

2. Pricing is now in the hands of oil companies and marketers

kindly read my previous discourse to see why ur summation is slightly off course.

cheers!

fastlane84:
Elaborate please thank you

kindly read thru my previous discourse with oers above. if u still have questions, lemme know!

ojesymsym:
As long as government fixes a price, it is not yet deregulated. That's why I always laugh when people say GEJ tried to deregulate PM's in 2012 when he also fixed a price.

So by removing 20naira that is deregulation?



Hmmm

poiZon:

So by removing 20naira that is deregulation?



Hmmm

it's ridiculous, but how can they do more?
we use about $19 to produce a barrel.
at under $30 per barrel, wots d gain?
we're in serious trouble.

This is not a good news, this Country ehnn

kikero:
For deregulation to happen, the government has to announce that

1. It is no longer setting the price of fuel

2. Pricing is now in the hands of oil companies and marketers

Go and read the communique again. That is exactly what the government has done.