Curious345:
Be prepared

Until petrol gets to ₦480 per liter. Then we ain't started yet ..

Diesel rose from ₦250 to ₦900..

Petrol Is set to rise too.

But one Man is responsible for all of this ..

His name is TIMIPREYE SYLVA

Curious345:
Be prepared

Until petrol gets to ₦480 per liter. Then we ain't started yet ..

Diesel rose from ₦250 to ₦900..

Petrol Is set to rise too.

But one Man is responsible for all of this ..

His name is TIMIPREYE SYLVA

Immatex:

I have a suspicion that this scarcity is artificial, programmed to make Nigerians accept the new price of PMS after Dangote refinery comes on stream in February and so called subsidy is removed.

With Dangote refining and selling Petrol in Nigeria, expect prices to hit N500/litre before end of year.

Dangote has the formula of making consumer products beyond the reach of ordinary Nigerians even when his wealth is built on borrowing from every Nigerian.

Mjshexy:
This country is in a mess in the hands of these wicked souls. We badly need an overhaul of the entire system, i just feel 1 month is too long a time to kick this govt out

Curious345:
Be prepared

Until petrol gets to ₦480 per liter. Then we ain't started yet ..

Diesel rose from ₦250 to ₦900..

Petrol Is set to rise too.

But one Man is responsible for all of this ..

His name is TIMIPREYE SYLVA

udyraph:
Seems people are just noticing that petrol is sold for N300 now. As am typing this piece we are buying petrol in ikono LGA in akwa ibom state for N300 plus and it has been like that since November last year.

nedu666:



Petrol can't sell for 425 if subsidy is removed.
Check kerosene is 800, diesel is 820, gas is 850. Fuel will sell around same price range of 800 per litre

Patrickilogu:
We have been buying 320 since 2022 here in Zaria, Kaduna state

obi58:




These are desperate times and desperate times call for desperate measures. Any depot found to be hoarding fuel should be taken over by government.

Same thing should be done to those inflating their prices and causing this artificial scarcity. Even if we are in the last days of the administration, government should not turn a blind eye to these practices and instead work assiduously to leave a good legacy behind.

Patrickilogu:
We have been buying 320 since 2022 here in Zaria, Kaduna state

Curious345:
Be prepared

Until petrol gets to ₦480 per liter. Then we ain't started yet ..

Diesel rose from ₦250 to ₦900..

Petrol Is set to rise too.

But one Man is responsible for all of this ..

His name is TIMIPREYE SYLVA

IbeOkehie:




In 1975 the federal government seized control of universities and schools to promote universal availability and ensure access for all.

We know the results after 50 years. Look around at the condition of government owned schools all over Nigeria.

Sometime in the 1970s, the federal government seized control of the only refinery in Nigeria which was then owned by a foreign company called BP. Today that refinery is producing ZERO fuel.

Added to that, the federal government started paying fuel subsidy in 1973 to ensure affordable prices for the masses.

How has that worked out?

In 2015 upon assuming office, the first thing President Buhari did was to ban all private importation of petrol. He made NNPC the sole importer to ensure transparency and fight corruption.

How has that worked out?

Before 1999, all cement factories in Nigeria were owned by government. Nigeria used to have widespread scarcity of cement just like scarcity of petrol today.

Around 2005 the government sold off all the cement factories to private investors. Dangote bought Benue Cement, BUA bought CCNN in Sokoto. Unicem bult a factory in Cross River and Lafarge in Adamawa or so. Nigeria even exports cement today.

The ONLY unproductive cement factory in Nigeria is Nkalagu cement which is still owned by Ebonyi State because they refused to sell to Ibeto Cement.

There's has been no scarcity of cement in Nigeria since round 2009 or so.

Government is the problem. Remove government and problems disappear. Insert government and problems will grow. It's a real lesson that we have seen live in the Nigerian economy. I don't know why Nigerians find it hard to understand

obi58:


Whilst I agree that government and corruption are hand in hand in 3rd world countries, in this instance the problem is not the government. The imported fuel is available at the tank farms but the tank farms are hoarding same and inflating prices not the government. Government is still partially to blame because they are seeing the excesses of these depot owners and how it's frustrating their efforts to subsidise fuel and they are not taking action. Unless you are accusing the government of being complicit with these depots which I frankly don't believe. I do believe that if government steps in all these excesses will disappear overnight.

IbeOkehie:


The world market price of petrol for any given day can be found here

https://www.investing.com/commodities/gasoline-rbob

That's all there is to it. That's the price at which NNPC can buy it anywhere in the world.

Right now, at this moment, the price of a gallon of petrol is $2.30.

4 litres = 1 gallon, so one litter price ~ $0.60

Convert to naira using CBN rate to get ~ 275.

Convert to naira using free market rate ~ 460.

So the price of fuel in Nigeria without fuel subsidy should be above ₦275.

The price without forex subsidy should be ₦460.

There's no mystery to this. The info is freely available. Anyone can call the sales office of any refinery in North America, Asia or Europe and this is the price that will be quoted.

This is the price at which Dangote must also sell or his refinery will shut down. The only way he can sell for less is if the government pays him a subsidy. Are Nigerians ready for the Nigerian government to pay Dangote ₦2 trillion per year to supply fuel for Nigerians?

If Nigerians want their country to prosper, then all subsidies must go. Aside health and elementary education, government should get out of the market. Allow Nigerians to produce, buy and sell whatever they want to or from any country or any person at their freely chosen price.

Yes Nigerians will suffer but that is how other people suffered to make their countries better. Everything isn't about today, think about 20 years from now.

It's OK too if Nigerians don't want to suffer, it's very understandable.

Just know the choices available are set and the consequences unavoidable in the long term...which is where we are right now.

Thanks.

SmartPolician:
In the last days of Goodluck Jonathan in 2015, Nigeria was a big mess. There were no light and no PMS, and Boko Haram was throwing bombs all over Maiduguri.

The truth is that the same thing is practically happening today, except for bombs going off all over the place. There's a pattern here. It seems that Nigerian politicians become less concerned in the last days of their administration.

If not, how does one explain that Buhari is paying subsidy on PMS and people are buying the product for #300?

Seekhimnow:

I have a 43" Smart TV for urgent sale.

Immatex:

I have a suspicion that this scarcity is artificial, programmed to make Nigerians accept the new price of PMS after Dangote refinery comes on stream in February and so called subsidy is removed.

With Dangote refining and selling Petrol in Nigeria, expect prices to hit N500/litre before end of year.

Dangote has the formula of making consumer products beyond the reach of ordinary Nigerians even when his wealth is built on borrowing from every Nigerian.

phranco:

Sell it at FB marketplace in your location

Immatex:

I have a suspicion that this scarcity is artificial, programmed to make Nigerians accept the new price of PMS after Dangote refinery comes on stream in February and so called subsidy is removed.

With Dangote refining and selling Petrol in Nigeria, expect prices to hit N500/litre before end of year.

Dangote has the formula of making consumer products beyond the reach of ordinary Nigerians even when his wealth is built on borrowing from every Nigerian.

Perfectbeing:
Buhari should end fuel subsidy for crying out loud.
All sane and realistic Nigerians are pro end fuel subsidy.

Subsidy removal: Tinubu backs Buhari, Falana condemns price hike
13th May 2016

A former Lagos State Governor and National Leader of the All Progressives Congress, Asiwaju Bola Tinubu, has described the decision of the President Buhari-led Federal Government to remove petrol subsidy as courageous.

The government, through the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday, announced the removal of the subsidy on petrol, pegging the upper limit at N145 per litre from N86.50k.

In a statement in Lagos on Thursday, Tinubu said though the decision was a difficult one, it would ultimately become beneficial to the generality of the people instead of enriching the pockets of a few Nigerians, who enjoyed the fraud of the subsidy regime.

https://punchng.com/subsidy-removal-tinubu-backs-buhari-falana-condemns-price-hike/?amp

Dikysmith1:

SOURCE
https://supers.ng/rising-petrol-price-hits-n300-per-litre/