grandstar:
Buhari just goes from bad to worse. He is doing the exact opposite of what was recommended and what he told the IMF: that he would deregulate the price of fuel

Na wa for Nigerians o!... So you want fuel to sell for #500?

Na u make agreement with IMF?

Do you work with IMF?

IMF come complain to you?

Ladiesdoctor:
Actually I did not read the post but I think the girl
has no right to beat up her boyfriend in public.
Maybe they should report the matter to their
village elders but if the neighbour refuse to pay
his rent they should just kill the landlord and
forget about the missing car.

I tot it’s only Bubu that knows how to plagiarize without knowing or reading the main headlines

Why not make it N120

Lol.... Petrol that is selling for N118 in warri already

Foolish people. What happens to it being reduced to 120

I bought 117 on Saturday and Sunday

grandstar:
Buhari just goes from bad to worse. He is doing the exact opposite of what was recommended and what he told the IMF: that he would deregulate the price of fuel

The government knows that deregulation is the answer.

But politically and Nigerianically speaking any presdient deregulating the petroleum industry is literally telling the electroate, including those who are his die hard supporters, that they should kick him or her out of power.

And the incoming lad or lass is going to reverse things back to normal.

(Try arguing for deregulaiton on this site. You will be abused and called all sorts of names.)

It does not matter how much you argue for it, or how much explaining you do, we must have low fuel prices because 'we are an oil producing country'. Even pointiing out that Niger (our neighbour) sells fuel at N350 per liter gets you the reply 'They don't have enough car owners, so they have to charge high enough to make a profit'

cosby02:


https://punchng.com/breaking-fg-reduces-petrol-pump-price-to-n121-50/

April 1 never pass?

IYANGBALI:
liar

I bought fuel yesterday for N120

Ladiesdoctor:
Actually I did not read the post but I think the girl
has no right to beat up her boyfriend in public.
Maybe they should report the matter to their
village elders but if the neighbour refuse to pay
his rent they should just kill the landlord and
forget about the missing car.

You drink ? Abi na leaf you chop ? Didn't you see the headlines

lomprico:



then u are nowhere near any promised land

OK
Put feathers for hand make we fly then

IYANGBALI:
stop arguing with me when it comes to English grammar especially syntax. For your information I tooked A1 in English when I wroted my GCE some years ago, what did you took in English when you wroted yours?

My stomach !

kikero:


The government knows that deregulation is the answer.

But politically and Nigerianically speaking any presdient deregulating the petroleum industry is literally telling the electroate, including those who are his die hard supporters, that they should kick him or her out of power.

And the incoming lad or lass is going to reverse things back to normal.

(Try arguing for deregulaiton on this site. You will be abused and called all sorts of names.)

It does not matter how much you argue for it, or how much explaining you do, we must have low fuel prices because 'we are an oil producing country'. Even pointiing out that Niger (our neighbour) sells fuel at N350 per liter gets you the reply 'They don't have enough car owners, so they have to charge high enough to make a profit'

You have a point but Buhari is overdoing things!

No 9ne asked him to reduce the price. The people won't have noticed if it was left untouched. The price reduction could have been completely avoided but he did it because he is a left thinking economic illiterate.

Even Oshiomole as governor shed his distaste for fuel subsidy removal when he realized it cost a ton of money to subsidize fuel, money which he knew now as governor the government did not have.

This is Buhari second time in power and he hasn't shed any of his statist ways. It probably boils down to his limited education.

Fuel should be below N80/litre
Anyways thanks to the Federal Minster for Petroleum, President Muhammadu Buhari

Don't be daft!!

AdeniyiA:
The real price shouldn't even be up to #50

Naijaarchive:


the thing is annoying

Very annoying. I wouldn’t have contributed to the thread if I knew it would have that kind of effect on my profile.

Why not N50

The real action will start when crude oil prices hit $60+ per liter. At that price, petrol will need to be at around N180+.

Remains to be seen if this government has the balls to increase the price of petrol beyond N145!

Even though, i like the price of cheap petrol as much as the next guy, my training as an Accountant and Economist tells me we are wasting money and creating massive inefficiencies in our supply chain by subsidizing petrol. If Kaduna, Warri and PH refineries had been sold and operating optimally, by now young promising engineers, technicians etc would have a dream of working there. But in the hands of NNPC, it's only the privileged few who can work there. Not to mention jobs created for suppliers, sub contractors etc

When all we had was NITEL, how many people could get a job there. But see what happened when MTN, Glo, Airtel and co came. Asides the thousands of people directly employed with good jobs, we had phone call operators, recharge card sellers, GSM handset sellers, those supplying diesel to base stations, those supplying generators, those building base stations etc, etc. In many cities, GSM villages sprung up providing jobs to thousands.

This is a clear example of how private sector efficiency can provide jobs. Whilst the private sector is not free of corruption and nepotism, it is far less than in the public sector. For people who do not know anyone, there is a chance of employment in the private sector. In the public sector, it's almost impossible!!


This does not even consider the infrastructure we could have built with all the money thrown away on subsidy over the last 60 years. Even the mighty Saudi Arabia with 12mln barrels of oil production and just 33mln people is reducing subsidies, it's now Nigeria with just 2mln barrels and 200mln people that will keep it?

Good move..gradually the price is crashing back to pre 2015 era..we shall get there!
Meanwhile check this legit system that pays you to watch youtube and videos and engages you through this lockdown period.https://rgyvideon.club/845555451698601/

COMPAQ:
The real action will start when crude oil prices hit $60+ per liter. At that price, petrol will need to be at around N180+.

Remains to be seen if this government has the balls to increase the price of petrol beyond N145!

Even though, i like the price of cheap petrol as much as the next guy, my training as an Accountant and Economist tells me we are wasting money and creating massive inefficiencies in our supply chain by subsidizing petrol. If Kaduna, Warri and PH refineries had been sold and operating optimally, by now young promising engineers, technicians etc would have a dream of working there. But in the hands of NNPC, it's only the privileged few who can work there. Not to mention jobs created for suppliers, sub contractors etc

When all we had was NITEL, how many people could get a job there. But see what happened when MTN, Glo, Airtel and co came. Asides the thousands of people directly employed with good jobs, we had phone call operators, recharge card sellers, GSM handset sellers, those supplying diesel to base stations, those supplying generators, those building base stations etc, etc. In many cities, GSM villages sprung up providing jobs to thousands.

This is a clear example of how private sector efficiency can provide jobs. Whilst the private sector is not free of corruption and nepotism, it is far less than in the public sector. For people who do not know anyone, there is a chance of employment in the private sector. In the public sector, it's almost impossible!!


This does not even consider the infrastructure we could have built with all the money thrown away on subsidy over the last 60 years. Even the mighty Saudi Arabia with 12mln barrels of oil production and just 33mln people is reducing subsidies, it's now Nigeria with just 2mln barrels and 200mln people that will keep it?

Excellent points made.

But the thing is , Nigerians LOVE subsidies. And their government sees and knows. That's why even army dictatorships didn't try to completely remove subsides. There would have been riots in the street within minutes. And change in government within days. And the new government would immediately reverse subsidy removal.

But we cannot keep this subsidy forever. Either this government grows a pair, and removes it, or we just keep on pouring trillions down a hole. For nothing self.

P.S I like your GSM example. And the scary thing was that back then there were people openly calling on the government to basically subsidize the thing. THANKFULY government did not listen to them at all...otherwise we would have still been struggling with slow conenction at our local internet cafes up till now.

... This is not a good.move

kikero:


The government knows that deregulation is the answer.

But politically and Nigerianically speaking any presdient deregulating the petroleum industry is literally telling the electroate, including those who are his die hard supporters, that they should kick him or her out of power.

And the incoming lad or lass is going to reverse things back to normal.

(Try arguing for deregulaiton on this site. You will be abused and called all sorts of names.)

It does not matter how much you argue for it, or how much explaining you do, we must have low fuel prices because 'we are an oil producing country'. Even pointiing out that Niger (our neighbour) sells fuel at N350 per liter gets you the reply 'They don't have enough car owners, so they have to charge high enough to make a profit'

Nigerians won't survive with deregulation..we still need time for the dangote refinery to kick start

Read more behind the reduction.

https://tropics.ng/2020/06/01/breaking-pppra-reduces-fuel-price-to-n121-50-per-liter/

Blackmann001:


Nigerians won't survive with deregulation..we still need time for the dangote refinery to kick start

We will.

The truth is, with deregulation, we are throwing billions , even trillions (N14 trillion in the last 13 years according to one industry union)..down a bottomless pit.

Then, there were the sharp practices. Like people making false claims for fuel not imported, people imporitng fuel at subsidised price and selling it over the borders of our country (all our neighbours sold fuel at N300 and above until this covid19 ish), and the corruption at NNPC too.

Plus, we can't have refinereis, because refining a liter of fuel costs N150 and above. And under subsidy, anyone refinign fuel in this country would be selling at a loss, no matter how much is paid in subsidy...and selling at a loss means that there are no funds for routine maintenance, and routine expansion of your business. It is also the main reason why NNPC does not have enough cash to maintain or build new refinereis (and Dangote is building a refienry because he has the cash, plus he got loans to the tune of 9 billion dolalrs to build the thing..and yes, banks were willing to lend to him because he would see the money)

And the fact is, subsides means no investment, which stifles job growth. And makes NNPC a nepositic government agency(because it has no motivaiton under subsidy to be productive). Who is going to invest when your prices are being set by some government agency who thinks your profits are all going into your pockets??

All our neighbours don't subsidise fuel. And most of them are poorer than we are. Yet they are not 'dying yet'.

If we want jobs, more investment, and more refienries than Dangote, and a better NNPC....we need to deregulate. Yes, fuel will rise to N400 and above, yes, prices of food will icnrease, but that is temporary. Once the permanent benefits kick in, there would be more jobs, more money for things like health and education, and indirectly more income for our treasury...as well as better power supply. And reduced importation of fuel.

We don't have the cash to supply the subsidy monster forever. We are not producing enough oil to make enough revenue for 200million people...the revenue we earn is enough for 8 million or less.

kikero:


We will.

The truth is, with deregulation, we are throwing billions , even trillions (N14 trillion in the last 13 years according to one industry union)..down a bottomless pit.

Then, there were the sharp practices. Like people making false claims for fuel not imported, people imporitng fuel at subsidised price and selling it over the borders of our country (all our neighbours sold fuel at N300 and above until this covid19 ish), and the corruption at NNPC too.

Plus, we can't have refinereis, because refining a liter of fuel costs N150 and above. And under subsidy, anyone refinign fuel in this country would be selling at a loss, no matter how much is paid in subsidy...and selling at a loss means that there are no funds for routine maintenance, and routine expansion of your business. It is also the main reason why NNPC does not have enough cash to maintain or build new refinereis (and Dangote is building a refienry because he has the cash, plus he got loans to the tune of 9 billion dolalrs to build the thing..and yes, banks were willing to lend to him because he would see the money)

And the fact is, subsides means no investment, which stifles job growth. And makes NNPC a nepositic government agency(because it has no motivaiton under subsidy to be productive). Who is going to invest when your prices are being set by some government agency who thinks your profits are all going into your pockets??

All our neighbours don't subsidise fuel. And most of them are poorer than we are. Yet they are not 'dying yet'.

If we want jobs, more investment, and more refienries than Dangote, and a better NNPC....we need to deregulate. Yes, fuel will rise to N400 and above, yes, prices of food will icnrease, but that is temporary. Once the permanent benefits kick in, there would be more jobs, more money for things like health and education, and indirectly more income for our treasury...as well as better power supply. And reduced importation of fuel.

We don't have the cash to supply the subsidy monster forever. We are not producing enough oil to make enough revenue for 200million people...the revenue we earn is enough for 8 million or less.

Hahha.. Very nice write up... I used to think like you until my mind opened....

U say thinks just like me b4.. From textbooks. Reality is far from this

cosby02:

https://punchng.com/breaking-fg-reduces-petrol-pump-price-to-n121-50/

reduce it to where you met it jaguda

SocialJustice:
Shine to where?

lol. I tire o

IMASTEX:
Let the crayfish price continue dancing. When they finally bring it down below #100 that is when we will know they mean business.

If Refineries were working you should expect the price to be below #100. As it is, we export our crude and import refined products. So there are costs associated with this. Unless you want the govt to bear the cost

LvGMalaya:


If Refineries were working you should expect the price to be below #100. As it is, we export our crude and import refined products. So there are costs associated with this. Unless you want the govt to bear the cost

the refineries are under which or whose supervision. Working or not, the govt are responsible for it.
If we the citizens can't gain anything from the govt, at least i think its better we collect our own national cake as subsidy on fuels thereby bringing the price to even #50/litre.
if there is no money in fg account, then they should instead cut-down their enormous salaries and allawees( the senate especially)