braveboy64:
It is painful, our main source of revenue is now less than $50 per barrel

BlackSpanner:
Stop shortchanging us. Sell this thing less than 100 naira

PigTormentor:


Good question.

If employers such as Chicken Republic have to pay the kinds of minimum wage to their employees like you have in California for example, then the chicken and rice you are buying will have to be priced like it is in California which is a whole lot more than N500 or N800.
The more you make employers pay their employees, the more cost they will pass on to the customers. No employer is going to bare the extra cost from their profit or they will simply go out of business. It could essentially leads to hyper inflation since the govt will have to borrow or print more money to pay for these increased minimum wages.
The minimum wage is low and should be increased but not to the level where employers can't sell their goods at reasonable prices.

If the price of oil stays this low for a longer duration, the price of fuel will still come down some more. The point I was making is that people iin the US and UK are saying the same thing people are saying here - if oil prices are so low why are we still paying almost the same price as before? Oil are sold in future contracts hence the oil that is used to refine the fuel now was more than likely bought when oil was selling at a higher price.
If the price stays this low for much longer then the price of fuel will also go down some more.

jumper524:

Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

igbokwenu90:
.... Who is " us " ? You get car ni ?

BlackSpanner:
Stop shortchanging us. Sell this thing less than 100 naira

BlackSpanner:
Stop shortchanging us. Sell this thing less than 100 naira

jumper524:

Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

Can Nigeria do what those countries are doing for their citizens

Or is it just to copy the aspect that suites the government

Racoon:
Petrol should sell much more lower than this price if the govt truly wants to be sincere to itself.

ursamajor:

Oga stop justifying nonsense , that guy finished the discussion with his logical points.

Racoon:
Petrol should sell much more lower than this price if the govt truly wants to be sincere to itself.

stormborn28:
if he no get car he get generator

sevo:


By this comment, you can correctly guess which party affiliation he belongs to

Racoon:
Petrol should sell much more lower than this price if the govt truly wants to be sincere to itself.

PigTormentor:



You do made a lot of valid points. Part of the reason for higher fuel cost in the US and UK is TAXES. Each locality has a tax on Fuel the varied cost from State to State. Another important issue that we should remember is that because price of oil today is 10 dollars does not mean that the fuel you are buying today was also sold at 10 dollars before refining it. Oil are purchased in the future like 6 months contracts. Thanks

yyba:
This is very commendable from Nnpc, BUHARI lead apc administration means well for Nigeria and Nigerians.

Lush100:
Very correct sir,
Specifically nnpc official say our is 3 months future purchase.
So prices of sold or oil have been done 3 months ago.

stormborn28:
you are not ashamed... Go and find out those countries that produce petrol how much they sell in their local communities.. Many of you just swallow nonsense

jumper524:

Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

CEOwatazs:


AT LEAST NOT IN YOUR GENERATION.


So, nah so you take wicked, wishing for your children (the future generations) this kinda evil.

jumper524:
even the US largest producers of oil sells above 2h when converted to naira..