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

Oga, it won't be immediate like that! Don't scare yourself! Despite Naira fall, it isn't as high as it was at the beginning of this month! It was around 480-5 but it closed today @443 and if CBN start selling to BDC by Friday as promised, it will strengthen the naira again and the price could dropped or flunctuate around 400-20 depending on the volume!

So, what's your analysis behind 'see nothing good in your country idealogy' and 'Buhari this that mentality'? Don't let data availability push you to display your ignorance and half baked-crude economics stupidity online! Ask about what you know not!

sunnyeinstein:


So now is the right time? During a pandemic and with tarrif hikes left, right and centre?
What makes you think people trust them now but did not trust the jonathanians? What is your measurement yardstick as per trust? Is corruption not also thriving in this government?
Let's stop emotional outbursts and reason the matter based on facts! Thank you

Thank you

Cyberterror:
Dangote and BUA refineries are coming on stream soon. Both fulani-owned.

You are the only one here so far that truely decoded the real reason for all the petrol deregulation drama going on by the federal government. You are smart.

Lol!!!

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

Some people are slaves to failure. Mediocrity is celebrated as achievement.

I greet you sir. Please continue with your words of wisdom.

Anyhow una do am we go cope

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

U lot keep quoting subsidy is stopped, can any of you prove it? don't just pluck words from the Air, if you truly believe we can pay for petrol at world oil cost now tell me this if given a licence to import fuel what country would you import from to sell bellow N350 pump price, I'm waiting!

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.

Stop deceiving urself and be humble for once, so the timing was wrong during Jonathan's time, but in this Buhari's disaster of an administration, as Nigerians try to pick themselves up from the effect of Corona virus, the time is now perfect abi?

Who is this Okechukwu Nnodim from Abuja that typed "The Federal Gorvernment is no more going to be releasing..." At first, I thought it was error made by the OP as he tried to summarise the original story, then I clicked on the link and saw the same horrendous grammar.

WTF is "...no more going to be releasing...?"

And who in God's name is his editor?

And to think Punch posted this on their website. Dang!

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.

If U re-read, they never said anything about subsidy though

kutashi:


Oga, it won't be immediate like that! Don't scare yourself! Despite Naira fall, it isn't as high as it was at the beginning of this month! It was around 480-5 but it closed today @443 and if CBN start selling to BDC by Friday as promised, it will strengthen the naira again and the price could dropped or flunctuate around 400-20 depending on the volume!

So, what's your analysis behind 'see nothing good in your country idealogy' and 'Buhari this that mentality'? Don't let data availability push you to display your ignorance and half baked-crude economics stupidity online! Ask about what you know not!

Keep quiet you Buharist quasi educated man ...Who told you it wasn't immediate ..The Naira is one of the most fragile currency on Earth and every careless poorly thought out policy affects it within 24 hours ( you can ask Emeifele)... Any increase in electricity tarriffs automatically puts pressure on contracting Economy and Naira ...The fact that even transportation cost went up hours later should tell you the effect was immediate , I hope you are aware Nigerian electricity deficit is balanced by petrol generators and an increase in petrol doesn't just affect transport but affect service and production in the micro Economy.. Opening the international airspace also put immediate pressure on the Naira as travellers started demanding for Forex and banks and travel BDCs start hoarding in anticipation of a spike in demand ... By weekend the pressure had reflected on the naira so much the CBN injected 50 million dollars to protect the value of the Naira and even that didn't prevent the slide and if the naira really closed at the price you mentioned then the CBN must have injected more today to cause that and by tommorow I will find out ..

Since Buhari came he has been artificially keeping the naira buffered using reserves we don't have if not the way he has destroyed the economy and Naira the value will be about 700 to a dollar ..

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.

Go and sleep hypocrite like you, not the right time then? now is the right time when the world is sick abi? guy who do you don die I swear!

amc:
Una dey cry for N165 per litre? Now, the real crying will soon start. lol

Al these country run on subsidy too.

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.

but the timing is right now abi Mr Mumu, defending the indefensible. people like you are the reason Nigeria will never progress. bunch of degenerates

baralatie:

so you are against removal of subsidy

Is that what we are talking about here?

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.

without a pandemic the timing was wrong but with a pandemic where a lot of people earn zero naira per day. Eg: private school teachers the time is right. That is your idea of politics. Yeye man.

Unionism is completely Dead in Nigeria.No protest since d hike in petrol.

God abeg punish one tall man

Nice one

Mayeldah:


What makes you think the money saved from paying subsidies will be put to good use? Let's watch our lives in the next one year if there will be improvements?

Nigeria is a failed state.

This is why I think subsidy should never be removed rather it should be properly regulated and accounted for. The western world subsidises more than we do, if you have heard of red and white diesel in the UK you will understand.The subsidy is the only give back the FG does for the ordinary man!

Goldwater2023:
The coming days will be though

Big oil companies are going to be making good bucks now, if u can bring in you petrol u are a boss

erico2k2:

This is why I think subsidy should never be removed rather it should be properly regulated and accounted for. The western world subsidises more than we do, if you have heard of red and white diesel in the UK you will understand.The subsidy is the only give back the FG does for the ordinary man!

My brother exactly my point..people have been shouting up and down about removal of subsidy but here we are today..how sure are we the money rediverted from subsidy payment will not still end up in the pockets of the political elite..in what way will the removal better the life of a poor or an average nigerian..hike in petrol price will eventually lead to hike in food stuff..inflation in every facet of our day to day life but what do i know..well all that they keep saying is our economy this our economy that..the govts economic policies are already a failure...removal of subsidy for sure won't affect the political elite in this country..it will for sure come down on us the masses that move to earn a living by the day!..laslas na to waka leave this country better pass cause there's no hope whatsoever

rejoice4eva:
Painfully the government has failed to put any reasonable palliative measure in place to safeguard the interest of the already impoverished populace. Almost the price of everything , especially staple foods has skyrocketed.
Only God can save us .

point of correction, we don't have government in Nigeria but tyrranic rulers.

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., someone actually said this yesterday on Nairaland, that until he sees the Government stop setting the price of pms, then, & only then will he believe subsidy has been removed, I guess now he believes?

please tell us where it said it stopped paying for subsidy or you mean to say 2020 U never wise still? like seriously?

And so be it.
Let market forces prevail.

This is very good, the masses that voted for APC in the north will have to pay more cause the price can’t be the same in the south as it will be in the north, so enjoy your next level

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.

less vehicles available for our police force to extort on the road.

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

By next year, petrol with be at least 300 Naira per liter. No subsidy again, so Nigerians will feel every road movement.

Now we have a sustainable system

Nasir246:

My brother exactly my point..people have been shouting up and down about removal of subsidy but here we are today..how sure are we the money rediverted from subsidy payment will not still end up in the pockets of the political elite..in what way will the removal better the life of a poor or an average nigerian..hike in petrol price will eventually lead to hike in food stuff..inflation in every facet of our day to day life but what do i know..well all that they keep saying is our economy this our economy that..the govts economic policies are already a failure...removal of subsidy for sure won't affect the political elite in this country..it will for sure come down on us the masses that move to earn a living by the day!..laslas na to waka leave this country better pass cause there's no hope whatsoever

The truth of the matter is this, we can never remove subsidy, it would be 2 expensive. The market should be open more,The importation process should be made transparent. This one where NNPC is doing it in house nah only God go reveal the true extent of damage done, Nigerians will be shocked when power changes hand and the truth is told.

NaMeAboki:
And so be it.
Let market forces prevail.

what mkt forces?

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.

Omenka, I was critical of PDP like you, but 2012 was the right time to remove subsidy.

Thanks to the protest against the subsidy thing, we laid the foundation for part of the reason why our foreign reserves got drained, why we had rampant scarcity till 2017 when your hero made Nnpc the sole importer of fuel, and why we still have bad refineries

GEJ had trust issues, but for once, the subsidy removal thing was the right thing to do then. If we had done it then, we would have had an increase in refineries by now, and prices would be coming down.

Now your hero has to do partial removal because covid and low oil prices. Yes, removing subsidy now is the right thing, but let's be honest, it is years too late

The reason why the forces of demand a won't drive the pump price down is because the numerous association will highjack process and determine the price as they wish. Association too much for Nigeria