obailala:
Oil price has risen over $40, what were people expecting? Govt to pay subsidy again?

juvewalex:
Has oil price increased in world market or what's the local oil price increment based on if this report is true.

One will never understand Nigerian government and all these oil marketers with their dubious way

obailala:

Of course that's what subsidy removal is all about. What exactly is dubious or shocking or confusing here?

The title of this report is actually misleading; government didn't increase oil price, rather pump price has just increased in line with global oil prices.

Over a month ago, oil sold for about $20 and pump price was reduced to N123. Now oil price has risen over $40. If oil price rises to say $80, pump price would surely rise again except we want govt to resume paying subsidy.

ajebuter:
watch the stupid marketers increase the pump price sharp sharp

But if it is reduction of pump price, they will claim they must finish selling the old product

Awon Alayebaje

9jaBlogger:


https://igberetvnews.com/1356643/breaking-nigerian-govt-increases-price-petrol/

Rollins777:
Nigeria I hail, petrol ⛽️ price increases, electricity increase, Nigeria na Scam

GboyegaD:
Regulating the price of petrol doesn't pay and it makes no sense that petrol sells in Lagos and other states at the same price. It is an inefficient system and they should allow the market forces determine price. Their role should be ensuring adulterated petrol is not being sold and the measurements are accurate.

obailala:
Over a month ago when the price was reduced to N123, global oil price was below $20. Now it has risen to over $40. This pump price increase was obviously expected and it has nothing to do with government.

kikero:


I think that's what Nigerians want. Free petrol.

Infact if government reduces the thing to N40 per liter, Nigerians will bless them and thank them, and APC will win in 2023.

Of course by the time the petroleum industry breaks down because they would be running at a massive loss as a result, plus the fact that we would be in serious debt to pay the subsides that result from keeping prices down....

Inasmuch as people would insult me, oil subsidy must go. Nigerian government must stop controlling prices of petrol. So that we can have more investment, more savings, less loan taking, and crucially, more jobs and refinereies, and a better economy.

If government had subsided GSM from the word go to the point that we pay N2 per minute.....I would have been typing this from an internet cafe, with a snail speed internet...like the good old days.

persius555:


The latter is likely to happen in the event of an increase in global crude oil price. Prices fall below $50, govt withdraws subsidy, when it goes above$50 subsidy kicks in.

obailala:

Of course that's what subsidy removal is all about. What exactly is dubious or shocking or confusing here?

Over a month ago, oil sold for about $20 and pump price was reduced to N123. Now oil price has risen over $40 and pump price has increased. If oil price rises further to say $80, pump price would surely rise again, except we want govt to resume paying subsidy.

The title of this report is actually misleading; government didn't increase oil price, rather pump price has just increased in line with global oil prices. So who should be held responsible for our refineries that are not working.global oil prices my foot and left nyash!! Does global price determine what I have and want to use.do they determine cost of garri and yam or cow. Since they can't repair refineries they should subsidize .period!

ejanla077:


Judging by ur calculations it should be #246..

How come crude price increased by 100%
But petrol price only increased by 25%
Does it mean government has been selling at exorbitant price...

The 100% crude increase should reflect on d petrol price.. Iys simple economics dat dont add up in this Nigerian fuel situation

bigfish3k:

You people shouting oil subsidy must go

kikero:


OK...if you were selling shoes at N22000 a pair, after buying them at N18000 a pair, and government came in and said you should sell them at N5000 a pair and paid you N2000 per pair sold as 'subsidy funds', and the reason why government is demanding you do that is because 'the poor need shoes'?, would you agree.

Be honest in your answer.

bigfish3k:
This kind wayo govt

But I thought they said they have left the price for market forces to determine

Watch this price go up to N200
Wayo government