coldsummer:
Do we have leaders in Nigeria. At what stage will right thinking people be at the helm of affairs?

When Nigerians start voting for right thinking people.

Coolcalmcollect:

na ogun lakaye go roast your prick

May you prosper in all your undertakings

anonimi:



www.nairaland.com/attachments/3252479_img20160103103227_jpegc267729d8628fd994230adedd6d053b8


www.nairaland.com/attachments/6440050_dregaeuxcaaxmzn_jpegbc221e09788124eef1ab789b91afa35e

we got served

The Government suppose to do something that will minimize masses suffering, increasing the pump price will add to the suffering currently being experienced by Nigerians. May Allah make them understand.

iwaeda:


https://www.premiumtimesng.com/business/406891-major-fuel-price-increase-looms-in-nigeria.html

increase will not be a problem if people have money to buy.

I totally support the deregulation of the oil industry.
I don't support APC but I totally support this. Few years back we suffered constant fuel scarcity n prayed that the price be high but available. It's quite unfortunate that it's happening during Buhari time but it's already here.
I remember as a young boy when I slept in filling station for kerosene n fuel. Those days are gone.
Like I said it's unfortunate that it's happening in this Buhari administration but I honestly don't want to go back to the era of fuel and kerosene scarcity.

It's expected...average Nigerians, who might have been following various price modulations of recent, should know subsidy is gone and price increase is expected....so what's the noise about

Karlifate:

Or in the shock state.

SO LONG AS IT DOESN'T AFFECT THE PRICE OF KUKUNASE, WE DON'T CARE.

This Nigeria of a country is a disgrace. Price of crude is falling in the international market, this useless government is busy increasing the pump price in Nigeria.

Good thing I got fuel very early this morning.

Wetin I for tell my boss, in this period of work from home wey light no dey.

kikero:
N.B: I am not here to defend any government...just to explain things.

The price of fuel is going up for two reasons....very simplifed

1.Nigeria is not earning enough cash to keep the price of fuel down because the amount of dollars we are earning from oil aren't enough to pay for subsidy (which exists so long as fuel prices are controlled by the government)

2.Because Nigeria is not earning enough dollars, the value of the naira is going down, which is why the oil price is going up. (In very rough terms, N145 is equal IN value to N65 ten years ago).

3.We cannot increase refining capacity because despite 61 licences issued for refienreis, only people like Dangote are building, because if you build a refinery in Nigeria, because government is controlling prices, anyone refining fuel in Nigeria will sell at a loss.

(That's why Dangote's refienry is not going to bring down prices in the meantime, because Dangote has to pay back loans he took to build his refinery, and then there is the cost. These add up).

4.Oil prices are going up,and since we import most of our refined fuel the price of fuel too has to go up.

5. The solution is simple. Allow marketers to control the price of fuel they sell. Yes, at the end of the day, we pay N200-300 for a liter of fuel...but in return, investors will come and buiild more refienreis, jobs and production icnreases, and competiton brings down prices. And smuggling stops, and government saves money.

Trust me; this is a delusion. The spirit of corruption present among the rulers and common people would negate any logical path to sanity, progress and prosperity. All that would happen would simply be an uograde of poverty and hopelessness. Nigeria is arguably one of the few places in the world where whatever works for others falls headlong. This is not because God cursed us, but our self-imposed curse due to sin, evil and its offspring :corruption .

caye:

Trust me; this is a delusion. The spirit of corruption present among the rulers and common people would negate any logical path to sanity, progress and prosperity. All that would happen would simply be an uograde of poverty and hopelessness. Nigeria is arguably one of the few places in the world where whatever works for others falls headlong. This is not because God cursed us, but our self-imposed curse due to sin, evil and its offspring :corruption .

Well, it worked for the GSM industry

Went from two providers and GSM SIM costing thousands of naira to 4 providers, a booming it and telecommunications industry, all because Obasanjo refused to listen to people who wanted him to bring in subsidy on GSM because prices were high

Plus, Jobs

SIONKPO1:
All those programmed Zombies will avoid this thread,buhari is a complete failure

Big time
Failure

kikero:
N.B: I am not here to defend any government...just to explain things.

The price of fuel is going up for two reasons....very simplifed

1.Nigeria is not earning enough cash to keep the price of fuel down because the amount of dollars we are earning from oil aren't enough to pay for subsidy (which exists so long as fuel prices are controlled by the government)

2.Because Nigeria is not earning enough dollars, the value of the naira is going down, which is why the oil price is going up. (In very rough terms, N145 is equal IN value to N65 ten years ago).

3.We cannot increase refining capacity because despite 61 licences issued for refienreis, only people like Dangote are building, because if you build a refinery in Nigeria, because government is controlling prices, anyone refining fuel in Nigeria will sell at a loss.

(That's why Dangote's refienry is not going to bring down prices in the meantime, because Dangote has to pay back loans he took to build his refinery, and then there is the cost. These add up).

4.Oil prices are going up,and since we import most of our refined fuel the price of fuel too has to go up.

5. The solution is simple. Allow marketers to control the price of fuel they sell. Yes, at the end of the day, we pay N200-300 for a liter of fuel...but in return, investors will come and buiild more refienreis, jobs and production icnreases, and competiton brings down prices. And smuggling stops, and government saves money.

Very lucid economic analysis.
Anytime government tries to control prices of commodities, rather than allowing market forces determine it, the price of the commodity ends up skyrocketing beyond the current price and ends up making things worse.
When the Buhari administration took over in 2015, they tried to control the exchange rate of the dollar to the naira and for the first time the value of the naira fell to $1 to N400.
The outcome of the above economic policy misadventure is still with us as the current parallel exchange rate of the dollar to the Naira is $1 to N468.
Our policy makers ought to be aware that the right economic policies need to be put in place ,even if it will seem like anti-populist measures, as this will be to the overall interest of the masses and the country, in the long run.
The right economic policy of allowing market forces determine the prices of petroleum products need to be adopted quickly, although there might be need to cushion the economic effects of this policy on the poorest of the poor.

Nbotee:
Say hello to the Next level baby

Next level, hello!!!

From Fry pan to fire, what happened?

Volkswagen90:
we got served

Well served thoroughly, if I can say that.

Yorubas, how far?...

kikero:
N.B: I am not here to defend any government...just to explain things.

The price of fuel is going up for two reasons....very simplifed

1.Nigeria is not earning enough cash to keep the price of fuel down because the amount of dollars we are earning from oil aren't enough to pay for subsidy (which exists so long as fuel prices are controlled by the government)

2.Because Nigeria is not earning enough dollars, the value of the naira is going down, which is why the oil price is going up. (In very rough terms, N145 is equal IN value to N65 ten years ago).

3.We cannot increase refining capacity because despite 61 licences issued for refienreis, only people like Dangote are building, because if you build a refinery in Nigeria, because government is controlling prices, anyone refining fuel in Nigeria will sell at a loss.

(That's why Dangote's refienry is not going to bring down prices in the meantime, because Dangote has to pay back loans he took to build his refinery, and then there is the cost. These add up).

4.Oil prices are going up,and since we import most of our refined fuel the price of fuel too has to go up.

5. The solution is simple. Allow marketers to control the price of fuel they sell. Yes, at the end of the day, we pay N200-300 for a liter of fuel...but in return, investors will come and buiild more refienreis, jobs and production icnreases, and competiton brings down prices. And smuggling stops, and government saves money.

I am a fan of your economic analysis on subsidy.

You know we Nigerians are emotional and spiritual... We think about our stomach first and pray for God to provide for tomorrow.

I support govt on this.... The price of petrol should be increased By N3 to N5 every month.

In such a way most Nigerians won't feel it.

In less than 2 years Nigerian would have gotten use to it and private firms will be able to make profit and competition will come in.

If everything is done proper and in accordance.

By 2023... There will be a massive competition within dangote and private modular refinary.

The same thing should be done to power but in this case there should be privatization from TAN to Gencos to Discos ... As well as allowing territorial distribution of power... Every city should have a private power supplier.

caye:

Trust me; this is a delusion. The spirit of corruption present among the rulers and common people would negate any logical path to sanity, progress and prosperity. All that would happen would simply be an uograde of poverty and hopelessness. Nigeria is arguably one of the few places in the world where whatever works for others falls headlong. This is not because God cursed us, but our self-imposed curse due to sin, evil and its offspring :corruption .

I don't agree with your summation above.
When the telecommunication sector was deregulated under the President Obasanjo regime, a minute call rate was about N50 per minute, though you will be still be charged the full N50 whether you make a call of 10 seconds or less.
The above lucrative pricing mechanism attracted other players like Econet and Glo which in turn created competition among them, with Glo introducing the per second billing system which caused many consumers to switch over to their company.
MTN and Econet, not wanting to lose their clients, had no choice but to follow suit in offering the per second billing system to their clients too.
The power of competition and free market pricing of GSM calls has eventually led to the cost of per minute billing of calls to fall to about N12 per minute from N50 per minute!
It has also led to the creation of novel products to maximise clients money by introducing a system where in a network, you get N3,900 for calls and 300 MB data if you buy a recharge card of N1,000. The networks are also more consumer friendly now as they call their clients to ascertain from them if they are satisfied with their services or how they can improve their services
The above shows that the market price system will eventually enthrone the consumer as king if it is allowed to operate in the petroleum sector, though the initial teething pains and difficulty will present themselves, but ultimately the consumers will be better off.

Nawa

GboyegaD:
We never ready to move forward. Why not let market determine the price? Selling it for same prices across the nation makes no sense and just gives an opportunity to looters.

All this one na turenchi. Buhari doesn't understand a word u said

good one there change the change!

I bought petrol for 150 naira per litre today

kikero:
N.B: I am not here to defend any government...just to explain things.

The price of fuel is going up for two reasons....very simplifed

1.Nigeria is not earning enough cash to keep the price of fuel down because the amount of dollars we are earning from oil aren't enough to pay for subsidy (which exists so long as fuel prices are controlled by the government)

2.Because Nigeria is not earning enough dollars, the value of the naira is going down, which is why the oil price is going up. (In very rough terms, N145 is equal IN value to N65 ten years ago).

3.We cannot increase refining capacity because despite 61 licences issued for refienreis, only people like Dangote are building, because if you build a refinery in Nigeria, because government is controlling prices, anyone refining fuel in Nigeria will sell at a loss.

(That's why Dangote's refienry is not going to bring down prices in the meantime, because Dangote has to pay back loans he took to build his refinery, and then there is the cost. These add up).

4.Oil prices are going up,and since we import most of our refined fuel the price of fuel too has to go up.

5. The solution is simple. Allow marketers to control the price of fuel they sell. Yes, at the end of the day, we pay N200-300 for a liter of fuel...but in return, investors will come and buiild more refienreis, jobs and production icnreases, and competiton brings down prices. And smuggling stops, and government saves money.

Easier said than done, prices hardly go down in Nigeria. Even in the telecom sector, you will think data prices should be down now but reverse is the case. Too many non technical factors we are dealing with in Nigeria and greed the greatest of them all

lozanni:


I don't agree with your summation above.
When the telecommunication sector was deregulated under the President Obasanjo regime, a minute call rate was about N50 per minute, though you will be still be charged the full N50 whether you make a call of 10 seconds or less.
The above lucrative pricing mechanism attracted other players like Econet and Glo which in turn created competition among them, with Glo introducing the per second billing system which caused many consumers to switch over to their company.
MTN and Econet, not wanting to lose their clients, had no choice but to follow suit in offering the per second billing system to their clients too.
The power of competition and free market pricing of GSM calls has eventually led to the cost of per minute billing of calls to fall to about N12 per minute from N50 per minute!
It has also led to the creation of novel products to maximise clients money by introducing a system where in a network, you get N3,900 for calls and 300 MB data if you buy a recharge card of N1,000. The networks are also more consumer friendly now as they call their clients to ascertain from them if they are satisfied with their services or how they can improve their services
The above shows that the market price system will eventually enthrone the consumer as king if it is allowed to operate in the petroleum sector, though the initial teething pains and difficulty will present themselves, but ultimately the consumers will be better off.

What is the true state of the telecom sector now, how cheap are the services they render

Goke7:

Easier said than done, prices hardly go down in Nigeria. Even in the telecom sector, you will think data prices should be down now but reverse is the case. Too many non technical factors we are dealing with in Nigeria and greed the greatest of them all

Well data is a bit cheaper than a few years ago, plus there is the phenonenom of 'data resellers'...who sell data at a cheap price.

But of course, things are still a bit high because operating costs are high....eg power supply is bad in Nigeria, so GSM companies spend more on generating power

(And the reason why power is bad is because it is heavily subsidsed and because ...but that's another story).

Goke7:


What is the true state of the telecom sector now, how cheap are the services they render

The service they render is okay, but data can still be made cheaper and faster

Next levels

Nawa this increase don pass loom oo. I just bought fuel now at #148.7

lexy2014:


All this one na turenchi. Buhari doesn't understand a word u said

Na Buhari dey regulate the price?