onyechez:

Am not even bothered at petrol because they're so many factors especially in developing countries but the case of Nigeria is very worrisome, we can't point to any sector in Nigeria and say that it is working.
If you check most of the African countries Importing petrol at least they got 24hrs electricity, but Nigeria with largest economy no electricity. Let the federal government give Nigeria 24hrs electricity and I bet you nobody will cry of high petrol price, because it will reduce the number of petrol users and reduce cost of producing petrol products and cut foreign exchange losses in Nigeria.

The AfricAN counntries that have light 24 hours daily do something that we don't do....they concentrate on giving power to mainly urban areas and leve the rural areas in darkess....

If we were to do the same in Nigeria...it meas we give light to the state capitals, and probably some other cities, and leave the rest of the coountry in darkness completely....

But what we do is try to hook up most of the coountry to the grid....which means actual demand is greater than generation.

Improving generation is hampered by artifically low prices of power (till recently, it cost N53 to produce one kwh of electricity, WHILE discos were selling it at N30 per kwh and below...meaning the sector was losng money...and then there is the fact most people don't even paY at all)..menaing low profits...meaNING NO money for new power gen plants....and improving the transmission sector.

Below is a MAP of power access in Africa....and our neighbour are not better than us.

PhiliptheArab:


How much do you think we can raise from 'cuting the cost of governance'...probably N1 trillion

Plus, the thing with fuel subsidy.....it is a big hole that keeps growing.

Between 2012 to 2015 , fuel subsidy costs went up from N2 per liter to N40 PER Liter ( due to the cost of importing fuel ging up from N99 to N132 PER liter.). Add the fact that when internationaL oil prices fluctuate....the fuel price fluctuates accrdingly.And the amoun t spent increases as well (Someone told me elsewhere that governemnt can spend as much as 2 trillion a year subsidsing fuel....no looting mind you)

And even if we were refining at home...the fact that refinereis have to be upgraded, expanded, etc...raises the cost of keeping prices low.

And the more you spend on subsidising fuel , the less you see for things like roads, schgools, hospitals, etc....which froces government to keep on taking more loans to keep the books balalnced.

Nigeria population is too much for resources to go round. How can you be subsidising fuel for the population size of 10 countries, imagine 90% of our yearly budget is recurrent expenditure only

zionstaar75:
if u do your research u will find out price of fuel changes daily or weekly with respect to crude oil prices in US, CANADA etc. What has Jonathan got to do with this, is he d one determining price of crude oil

are you mad ni ? Bcs ife you are not mad you Will not compare USA and Canada with Nigeria .
Road,
Health system
Infrastructure and social warefare cannot match with our own .we are far behind .

Let me say it this way:wetin some people in this country sit down see,take others to climb tallest MTN mast to see, OK let's be going till next 3years o Our mumu never do .

Make i see who go mumu come wish me merry Christmas omo we go fight die o ,u go tell me watin merry inside this scam called Nigeria

tutudesz:

Nigeria population is too much for resources to go round. How can you be subsidising fuel for the population size of 10 countries, imagine 90% of our yearly budget is recurrent expenditure only

That's the sad and painful truth....and to be honest, I wish it wasn't like that.

I may support subsidy removal....but God knows I wish it did not have to come to this.

SAI BABA....

PhiliptheArab:


That's the sad and painful truth....and to be honest, I wish it wasn't like that.

I may support subsidy removal....but God knows I wish it did not have to come to this.

When Government depends on only Oil revenue with our population size we are suppose to have nothing last 4 major source of revenue Oil, Agriculture, manufacturing and taxes.
Just imagine if Oil price should fall below $10-$5

Na make I go look for trailer to follow go home for xmass.....

PhiliptheArab:

All our neighbours pay N300 and above for fuel. Among oil produers, only Algeria, Sudan, and Venezuela pay lower than we do for fuel...and Sudan is considering a price increase. Algeria produces five times more crude than we do for a population less than 50 million, and Venezuela is running its savings down to pay for the subsidies

Do not reason like an insane folk! Must we inconvenience our people to justify any international crap?

ttbaba:
Na make I go look for trailer to follow go home for xmass.....

, you better dey where you dey if you nor get money. Won't you spend money at home? Abi na just to go chop?

Nukilia:


Do not reason like an insane folk! Must we inconvenience our people to justify any international crap?

Thanks for calling me insane. Do have a pleasant day

I get-ee my money
Plan my plan finish
Start-ee to go for market
Start-ee to go for shopping
Before I reach market nko o?
Government show don enter
My plan-ee don spoil o
Government show don enter
My plan-ee don spoil o

gaetano:
There's nothing more i can do but laugh . Afonja peeps supported this empty cow over Jona, the way this economic hardship is going round is so sweeting me. Lmao. We weren't having it so good during jona's time but we were okay but now, we have food inflation, multiple taxation, border closure, abuse of human right, we can't even protest, baba is negotiating with actual terrorists while tagging protesters terrorists. Afonja una done see una handwork. Lmao

You people always try to blame other for your problems. So afonja is your problem but during the last election buhari couldn't even win afonja states. Ondo , Oyo, Lag but he clear all the votes from the east. Your hypocrisy is top notch. That's why you guys will neva progress because you can't take responsibility for what you've done. You place it on tribalism

tutudesz:

Nigeria population is too much for resources to go round. How can you be subsidising fuel for the population size of 10 countries, imagine 90% of our yearly budget is recurrent expenditure only

Do not reason like this! This is not the first time we heard subsidy removal and a price increase is executed to favor that

dat is the only thing they do best. increase in price of commodities. � giver.

Nukilia:

Do not reason like this! This is not the first time we heard subsidy removal and a price increase is executed to favor that

Here is how subsidy removal works...Nigerian style


1.In 2011, fuel cost N65 at the pump, and N99 to import...meaning government was paYING A subsidy of N34 per liter.

2.In 2012...pump price was icnreased to N97 , meaning government now paid N2 per liter as subsidy

3.By 2015, importing fuel was now N132 per liter....and the pump price as N87. Meaning government was payingN45 per liter as subsidy.

4. To reduce costs , especially as the crude oil price was falling....government raised prices to N145 per liter....and thus removed subsidy...sine fuel was now costing above the import price

5.Which worked until 3 years later...when cost of importing fuel was now N180.

Just a Taste of what has been goiing on since 1978.......

Bleep Democracy... Soilders should stage coupe and destroy Buhari once and for all

D's kwantry... naa waoo

Nukilia:

Do not reason like this! This is not the first time we heard subsidy removal and a price increase is executed to favor that

the timing is wrong, considering the economy situation globally But the truth Nigeria has a country is broke and can't afford to pay subsidy anymore

Things just keep getting worst

Where is this country leading to

ogododo:


https://punchng.com/breaking-nnpc-raises-petrol-depot-price-marketers-to-sell-at-n168-n170-litre/

AFONJACOW:
Bleep Democracy... Soilders should stage coupe and destroy Buhari once and for all

The problem with a change oof government is that even if a new government comes in and reduces fuel to N40 per liter....it would have to find money to subsidise fuel

Right now, fuel cost N200 and more to import. Keeping fuel low aT n40 woud cost N160 per liter.

Such money would drain our treasurty and reserves...and force us to take more and more loans.

Plus Army rule makes civilan rule look heavenly. Buhari civlian may be harsh, but Buhari millitary would have done worse than the Lekki shooting.....

Scam

The only regime with zero human empathy, thats y i condemn every living thing that supports this govt. Make i start from home.

Okoro hausa
Rotimi amaechi
Our shameless pastor osibanjo
Tinubu the chief armed robber
Goodluck jonathan for messing up his tenure with armed robbers.

Okezie kerosene ikpeazu for being the most useless ngwa man.

PhiliptheArab:


The problem with a change oof government is that even if a new government comes in and reduces fuel to N40 per liter....it would have to find money to subsidise fuel

Right now, fuel cost N200 and more to import. Keeping fuel low aT n40 woud cost N160 per liter.

Such money would drain our treasurty and reserves...and force us to take more and more loans.

Plus Army rule makes civilan rule look heavenly. Buhari civlian may be harsh, but Buhari millitary would have done worse than the Lekki shooting.....

Not an excuse


Why can't our useless government manufacture it here

SocialJustice:
Better to buy it expensive and it is easily available compared to fake N87 that was mostly scarce and people still had to buy at black market rate of N120 after enduring long queues.

Why have you all allowed this APC bewitchment cause you to act hypocritically and so blindly? Why are you watching yourself being led to destruction.

"Better to buy it expensive and it is easily available". Are you comparing your earning capacity with that of the bigger nations? With your minimum wage, which is not even fully paid, how many of you can now confidently buy one quarter bags of rice? How many of those countries have such economic policies that reduce more of its citizens to poverty daily?

Na wah for una sef!

Afonja Muslims and fulanis jihadist terrorists!! Dancing skellewu now!!!

lamentor78:

...and election day will come and you will sit at home

Under this condition, who will stay at home. I am busy with the timetable on when to use generator and how long in my house now.

Men. It is finished

primestreams:

Not an excuse


Why can't our useless government manufacture it here

Because if we refined fuel here for say N150 per liter, Nigerians will insisit on it being sold below N90.

This won't let the refienries make enough of a profit to pay for maintenance costs, expand stock, and build new refinereis if needed...as well as pay off any other financial costs (eg loans taken to build refinery, in suran ce costs)

Subsidy only covers the difference between N90 and N150. Zero profit made, at best.

No profit=bAD REFIENREIS

Aboguede:
It is called inflation

Then they go to one discrepit village and give a few folks N20,000 that will be worth N10,000 by the time they attempt to spend it. Hahaha...the joke is on Nigerians. Next time seek those who have ideas of how to develop nations.