The timing was better then and this government has more trust issues with all the incompetent ministers.

This was not the best time but they have no option cuz no one will borrow Nigeria money to keep paying for those things. So they actually had no other choice but to do this.

Angelfrost:


The pathetic irony of the above in bold makes even a neutral like me laugh!!!... An honest Nigerian is more scarce than ice in Sahara!

omenka:
If this would ensure the subsidy regime never comes back, so be it. I'm sick and tired of that fraud.

If we must suffer, let it be once and for all. This unending rollercoaster of pains and succour does no one no good.

are you OK? Is it what you said during Jonathan?

GamalNasser:
As I predicted again earlier on another thread the Naira has fallen today again and the price of fuel will have to go up or Buhari will need to start paying subsidy again by Monday ..this announcement is a face saving measure from the embarassment of another fuel increase just one week after the last was done .. well Nigerians should be ready to buy fuel at about 220 before December

make I go buy full talk now now..

abeg where you dey get the currency news?

favor914:
During covid lockdown when the price of crude fell in the international market you were hailing?, & now that it is high you are complaining? No more subsidy it is gone for good.

You should be more worried ..even at 3000 naira a litre my standard of living will not drop

Angelfrost:


That's how it is meant to be... It is called 'Growing pains'!... If this had been allowed to sail in 2012, or had been done by these morons in 2015, when power changed hands, we would have long outgrown the pain or impact, and the nation doing far better financially.

It is a sad thing that Nigerians and their leaders lack foresight... That's why Africa is so behind!!!

Angelfrost on point.

BigTableShaker:

make I go buy full talk now now..

abeg where you dey get the currency news?

I just watch the actions of the govt and I can see how it will affect the naira . Last week the increase Fuel price , Electricity tarriffs and then opened the international airspace in a safe of 4 days , that's was bound to put pressure on the Naira by today and it did even though the govt tried to buffer the Naira by injecting 50 million dollars over the weekend it didn't work

BrighterMe:
Please permit to deviate a bit from the topic. Thank you.

Greetings to you all, please come to the rescue of my my mother. She is critically lying ill in the hospital with an intestine disease. No money to attend to her medical needs. An emergency surgery is recommended by the doctor but no money. This is why we need your financial assistance to enable us deposit any amount for the operation. God knows there's no money in family as we are just struggling to survive. She means everything to me please. Your contribution can keep her alive which is all we want. Thanks and God bless.
Please this is no fraud. If it's, whatsoever a man soweth, so he shall reap.

305 654 0836 Juliet I., First Bank

Also make a thread on this on Twitter and Instagram you would be able to raise more money. Wishing your mother speedy recovery.

GamalNasser:


You should be more worried ..even at 3000 naira a litre my standard of living will not drop

Respect GamalNasser.

georgeiyke009:
The timing was better then and this government has more trust issues with all the incompetent ministers.

This was not the best time but they have no option cuz no one will borrow Nigeria money to keep paying for those things. So they actually had no other choice but to do this.

I know well enough that they had to be strong-armed by sensible powers that be before they could do something as commonsense as subsidy removal... This is why I faulted their lack of foresight, integrity, and economic wisdom!!!

I also take personal issues with sycophants acting like this timing has always been pre-planned, and this idiotic and false statement of claiming Nigerians have more trust in this government than previous ones is a joke taken too far!

This is the best time for all those whose protested in 2012 (regardless of party affiliation) to bury their heads in shame, and not say one more word!!!

favor914:
Angelfrost on point.

Thank you ma... Glad we eventually reached common ground on this deregulation matter!!! Kudos!!!

JonCleary:


This can't work in Nigeria because marketers will simply form a cartel meeting informally to fix a base price that guarantees 100% markup and then what will PPPRA do about it?

Brother... let's be positive about certain things. Deregulation is a foregone conclusion, and the sensible thing any nation should be doing.

One Bridge at a time!!!

Good, we are all in it.
The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Christ is coming soon. Repent

omenka:
Get the fvck out of my sights. Go lean on another shoulder to cry over your loss of yesteryear.

I get irritated seeing all you emotional kids rant and rave over the past, same thing you tend to forbid others from doing.

Nigerians didn't allow Jonathan do it not because of hatred but because the timing was wrong and his government had chronic trust deficit. Deal with that and stop whining like a little girl denied her toys.

This timing is good according to your buhari book of wisdom Abi?

GAZZUZZ:


They are now useless

Them go dey check meter readings of fuel pumps

proclinician:


Exactly. Poor bastards are on this thread screaming deregulation. Poor idiots that earn 30k as minimum wage, they don't understand. When you deregulate an essential commodity like PMS you put in palliatives to cushion impact such as cheaper transport alternatives, steady power supply and removal of all checkpoints on the road but patrol security teams instead. Without these things the salaries of these poor people bcoms more useless as general price level will increase. Poor monkeys have no idea.

You equally don't understand the reality on ground...

This government has no other choice going forward! They want to borrow more, but severe conditions have been placed on them by their creditors (IMF and co). This is one of such conditions!!!

This nation has been running on economic fumes for far too long, due to poor economic policies!!! Continuing to pay insane amounts as subsidies will further deepen the nation's financial woes!!!

My main issue with them was their approach since 2015... They should have consulted properly with people in the know, people like OBJ and Okonjo...

I can almost bet you they didn't even plan to take this approach this year!!!

Seikiri1:

The countries in the chart what are their minimum wage?
You should have included that as well.

That is where the real issue is. Wages in this country are way too low.

georgeiyke009:
Lol. Well technically its possible but thats where economics will come in.

A lot of people move around too much and buy and drive cars cuz fuel is affordable. When they make it unaffordable, then the following will happen:
1. Most fuel people buy is for commuting to work and back. Discussions for people to start working from home permanently and maybe just come to the office once in 2 weeks will happen.

2.Ride sharing will become the order of the day as guys will team up and fuel a guys car for the week, then another person's car.

3. People will start trekking more especially for within movement.

4. Online shops will surge in profits as people will prefer to buy and pay a delivery fee which will be less.

5. Less traffic as few cars will be on the road as a result. The few times people really need to go out the road will be at least free saving fuel.

6. V6 and v8 cars will become junks as smaller cars will become more attractive. Only the truly rich can now afford to drive one.

So in the end it does not matter if they band and make it 1000/liter. A lot of people will simply not be able to buy and drive as regularly as they do and they will be forced to drop their cars and limit movement as much as possible. They can no drink their fuel. Literally.

Exactly!!! There will be widespread adjustments and individual budget cuts... All hands will have to be on deck to weather this coming economic tsunami!!!

The citizens can't keep living a pipe dream of a "Subsidized economy"! That was never gonna be feasible for long.

Ehinmen3:



This timing is good according to your buhari book of wisdom Abi?

Unfortunately, there is no "good"time! Majority of Nigerians have been extremely poor for that past 30 years and that won't change anytime soon.

Not because I like it like that, but thats the unfortunate truth. There is no magic wand to it. And one of the biggest reasons is because we are also majorly illiterate. In this modern economy, a country just can't have people as poorly educated as Nigerians are and expect they won't be living in poverty

ogododo:


https://punchng.com/breaking-fg-discards-petrol-price-band-begins-full-deregulation/

Lies

They are still the sole importers of fuel and they power to overtax to discourage competitors lies in the hand of the government.

If truely they fully hands of, let them issue licence and permits that allows for local or modular refineries at different capacities such that they don't need to international market to purchase crude but source that locally.

hush15:


Lies

They are still the sole importers of fuel and they power to overtax to discourage competitors lies in the hand of the government.

If truely they fully hands of, let them issue licence and permits that allows for local or modular refineries at different capacities such that they don't need to international market to purchase crude but source that locally.

that is one solution

Angelfrost:


You equally don't understand the reality on ground...

This government has no other choice going forward! They want to borrow more, but severe conditions have been placed on them by their creditors (IMF and co). This is one of such conditions!!!

This nation has been running on economic fumes for far too long, due to poor economic policies!!! Continuing to pay insane amounts as subsidies will further deepen the nation's financial woes!!!

My main issue with them was their approach since 2015... They should have consulted properly with people in the know, people like OBJ and Okonjo...

I can almost bet you they didn't even plan to take this approach this year!!!

Okay. You are the one that don't understand. With those huge sums as subsidies your penny u earn as salary can buy you some things just enough to keep you sane. With the general price level increasing as will be the case, your salary becomes more useless and well I can only be sorry.

Are you sure you are not contradicting yourself or emotional attacking the guy you quoted? During this post-Covid period how many people have gone out to work? Even those who did, how many operated at full capacity? You are aware many were not paid as a result being employees of private sectors since they were shut down. Such sector is the educational were the private school employees were never paid. The 2012 that is the bone of contention here we probably had two weeks holiday ( December 23, 2011 to January 5, 2012 ) some people are yet to come back from their various destination where they spent their festive period. If then Jonathan's timing was ill? What will you now call Buhari's timing?




Get the fvck out of my sights. Go lean on another shoulder to cry over your loss of yesteryear.

I get irritated seeing all you emotional kids rant and rave over the past, same thing you tend to forbid others from doing.

Nigerians didn't allow Jonathan do it not because of hatred but because the timing was wrong and his government had chronic trust deficit. Deal with that and stop whining like a little girl denied her toys.[/quote]

GamalNasser:


You should be more worried ..even at 3000 naira a litre my standard of living will not drop

Lol

georgeiyke009:
Lol. Well technically its possible but thats where economics will come in.

A lot of people move around too much and buy and drive cars cuz fuel is affordable. When they make it unaffordable, then the following will happen:
1. Most fuel people buy is for commuting to work and back. Discussions for people to start working from home permanently and maybe just come to the office once in 2 weeks will happen.

2.Ride sharing will become the order of the day as guys will team up and fuel a guys car for the week, then another person's car.

3. People will start trekking more especially for within movement.

4. Online shops will surge in profits as people will prefer to buy and pay a delivery fee which will be less.

5. Less traffic as few cars will be on the road as a result. The few times people really need to go out the road will be at least free saving fuel.

6. V6 and v8 cars will become junks as smaller cars will become more attractive. Only the truly rich can now afford to drive one.

So in the end it does not matter if they band and make it 1000/liter. A lot of people will simply not be able to buy and drive as regularly as they do and they will be forced to drop their cars and limit movement as much as possible. They can no drink their fuel. Literally.

Good points. It's funny how in UK most people drive tiny cars for maximum fuel efficiency. Its rare to see a car the size of accord or carry on UK. Yet in Nigeria we have this obsession for benz and SUV partly because petrol price was never an issue. Maybe this will cause a rethink. Very likely my next car will be a hybrid.

Maybe this is also a time for car conversion to LPG to kick off in Nigeria.

CilicMarin:
Good One Mr. President......

No Going Back To President Jonathan Tenure Where Petrol Sold For 600 Naira due to scarcity of the product...


We Good Nigerians Appreciate You, President Mohammadu Buhari...

Now is the right time to scrap PPPRA...They are no longer needed in view of the recent development..m

Repeal Decree No. Of 1975 (as amended by Decree No. 32 of 1989)

proclinician:


Okay. You are the one that don't understand. With those huge sums as subsidies your penny u earn as salary can buy you some things just enough to keep you sane. With the general price level increasing as will be the case, your salary becomes more useless and well I can only be sorry.

you are referring to impact on likely increase in inflation thereby affects liveable income

Angelfrost:


Brother... let's be positive about certain things. Deregulation is a foregone conclusion, and the sensible thing any nation should be doing.

One Bridge at a time!!!

It's not about being positive or otherwise, trial-and-error economics is going to kill Nigeria.

You can't put a skyscraper on a foundation designed to carry a two-storey structure it's bound to fail! If we don't build the basics, the bigger stuff like deregulation cannot work.

Governance is not by magic or positive thinking

It is welcome development as long as this would end the subsidy regime that is been benefited by few individuals and the era of long queues at filling station at unfriendly prices. The only problem I have is the transparency and accountability from the part of government.
Anyways, We move!!!

iPhone 11 Pro Max with 64GB for sale. DM via whatsapp for more enquiries

hush15:


Lies

They are still the sole importers of fuel and they power to overtax to discourage competitors lies in the hand of the government.

If truely they fully hands of, let them issue licence and permits that allows for local or modular refineries at different capacities such that they don't need to international market to purchase crude but source that locally.

You be correct guy!

baralatie:

you are referring to impact on likely increase in inflation thereby affects liveable income

Exactly. This is what will happen. Everyone selling anything both goods and services will increase charges and blame pump price. Meanwhile the salary is not increasing one bit. Is it fair?

CilicMarin:
Good One Mr. President......

No Going Back To President Jonathan Tenure Where Petrol Sold For 600 Naira due to scarcity of the product...


We Good Nigerians Appreciate You, President Mohammadu Buhari...

Now is the right time to scrap PPPRA...They are no longer needed in view of the recent development..m

Are you being sarcastic or are you being simply stupid