Kobonaire234:


You did not know me in 2012 either, plus i was not on nairaland then.

Also 2011 was when i woke up and saw the light regarding subsides and why they werw evil

Go and meet an apc supporter with this your comment. I am not one.

Kobonaire234:
At 300 naira it is even still cheaper than all our African brethren except Algeria and Angola.

Also, seems apc has admitted in essence that 40 naira pletrol was a lie.

Splitmind:
Only lazy youths are crying and about the price of fuel. Good for nothing wailers who keep trying to spoil president Buhari's good name.

Kobonaire234:


Maybe, but on the other hand it is unrealistic tp expect fuel to be less than 250 naira per liter or even the 15 kobo it was in 1981.

I know you guys want it at 65 naira, but if peter wins and tries that, the loans he would take to sustain it would make Buhari loans look like chicken feed

Abfinest007:
I get angry when I see APC campaigning

Nightwolf1:
Stupid man

Kobonaire234:
At 300 naira it is even still cheaper than all our African brethren except Algeria and Angola.

Also, seems apc has admitted in essence that 40 naira petrol was a lie.

symbianDON:
you de mind dem?? E de sweet them for mouth to de compare petrol price side by side with other countries but you won't hear them comparing minimum wages side by side and general standards of life.

Kobonaire234:


Berry simple...and it boils down to what I said earlier...

When the cost of production rises , the cost of your subsidy rises....if you cannot pay the rising costs of subsidy...scarcity results, or price increases above the official price results.

Let that sink in

When the budget was made in 2021 for 2022...no one knew that Ukraine would be invaded, that we would have really hellish weather in August and September, and that all that would 1) increase oil prices 2) increase the cost of refined products 3) increase the cost of transporting them....which had a knock on effect on subsidy costs.

As a result, by September 2022, we had spent more than we did for the whole of 2021 on subsidy. To make matters worse, diesel prices have been rising for the whole year (Diesel has not been subsidised since 2013,), raising the subsidy costs esp transport subsidy costs (government pays part of subsidy to transporters...that's why in theory fuel costs the same everywhere, unlike in India and the US where costs vary from place to place)....and the subsidy costs rose beyond what NNPC and government could cover.


Thus prices rose in many parts....



To give you an idea of how bad it is...in June 2021 it cost N261 to bring in one liter of fuel. By November 2022 it was costing N510 per liter.


And Government does not have the money because it is spending more on debts, massive oil stealing has reduced our oil income, and taxation is not providing enough cash, plus they did not diversify. At the end, here we are.

adenigga:


Source: https:///N300-Per-Litre-Price-Of-Petro-Is-Not-Bad-Petroleum-Minister-Sylva

Kobonaire234:
At 300 naira it is even still cheaper than all our African brethren except Algeria and Angola.

Also, seems apc has admitted in essence that 40 naira petrol was a lie.

Kobonaire234:


Berry simple...and it boils down to what I said earlier...

When the cost of production rises , the cost of your subsidy rises....if you cannot pay the rising costs of subsidy...scarcity results, or price increases above the official price results.

Let that sink in

When the budget was made in 2021 for 2022...no one knew that Ukraine would be invaded, that we would have really hellish weather in August and September, and that all that would 1) increase oil prices 2) increase the cost of refined products 3) increase the cost of transporting them....which had a knock on effect on subsidy costs.

As a result, by September 2022, we had spent more than we did for the whole of 2021 on subsidy. To make matters worse, diesel prices have been rising for the whole year (Diesel has not been subsidised since 2013,), raising the subsidy costs esp transport subsidy costs (government pays part of subsidy to transporters...that's why in theory fuel costs the same everywhere, unlike in India and the US where costs vary from place to place)....and the subsidy costs rose beyond what NNPC and government could cover.


Thus prices rose in many parts....



To give you an idea of how bad it is...in June 2021 it cost N261 to bring in one liter of fuel. By November 2022 it was costing N510 per liter.


And Government does not have the money because it is spending more on debts, massive oil stealing has reduced our oil income, and taxation is not providing enough cash, plus they did not diversify. At the end, here we are.

adenigga:


Source: https:///N300-Per-Litre-Price-Of-Petro-Is-Not-Bad-Petroleum-Minister-Sylva

adenigga:


Source: https:///N300-Per-Litre-Price-Of-Petro-Is-Not-Bad-Petroleum-Minister-Sylva

adenigga:


Source: https:///N300-Per-Litre-Price-Of-Petro-Is-Not-Bad-Petroleum-Minister-Sylva