SalamRushdie:


Another failed 28 year old , yuck

nairalanda1:


. Seriously man, I used to think you were more mature than this.

Good afternoon.

soccerlite:


You are talking as if nigeria is Japan or Korea

Nigeria don't have the technology, technical ability and companies

Well maybe those companies will have to come in

SalamRushdie:


You refused to sympathize with what Nigerians have been going through because of wicked govts by saying our petrol is cheap , have you checked petrol price of other OPEC members ? Why should Petro in a country with a GDP per Capita of 2000 dollars be more expensive than America whose GDP per Capita is over 70 thousand dollars ?

Jackiedemie:
I think when Dangote refinery is operating at full capacity... The rate of FX on import id PMS will reduce hence the price might Reduce as well as creating both direct and indirect employment in tenth fold than direct importation

HenryWilliams:
This is just clueless thinking..
We have abundance of CNG in Nigeria.
Let the FG start a hybrid system scheme.
Anyone interested in converting their cars to use PMS and CNG can sign up ..
Owner pays 75%
FG pays the rest.
It's doable and will reduce the demand on PMS and possibly the price as well.
This should have been done at least a year ago.

nairalanda1:


Well , the appropriate body has approved six importers and is ready to approve more

CodeTemplar:
Naira strengthens and an imported product goes up in price. How is that possible?

yaki84:

Oga fuel dey everywhere, there is ample supply of products infact the entire country is flooded with fuel but cash no dey to buy.

I just saw fuel price index for all countries...

Fuel is sold at 1.3dolls per litre at international rate, convert it to naira that is 910naira at 700naira per dollar rate.

What we r praying for is good policies that will revalue the naira against dollar and push down the price of fuel downward...
But this too will also affect the country cos we rely on this high exchange rate to fund our domestic spending....

jmoore:
4.3% is not something to worry about.
So save your crying energy for the big one that will hit by July or August.
By the time they import petrol with dollars bought at 750 naira, una go hear am.

Jackiedemie:
I think when Dangote refinery is operating at full capacity... The rate of FX on import id PMS will reduce hence the price might Reduce as well as creating both direct and indirect employment in tenth fold than direct importation

nairalanda1:


Yes I did, and do you know our fuel subsidy cost for one month as at this year?

600 billion naira.

24 billion naira cannot pay for subsidy costs for one week talkless of one month.

Oga, I do not support corrupt leaders, so take your anger elsewhere, and grow up.

Seriously. You guys should read sometimes. Haba!

nairalanda1:


LOL...we are not paying more than the USA.

Some parts of the USA pay even higher than we do, eg California.

At the end, the secotr needs to make a profit, because things cost money, and people want to be paid. and many of the people who want to be paid are poor Nigerians, ordinary Nigerians, not just the rich cats.

georgeakins:



The licence should not be given to any crook who will be bringing substandard fuel into Nigeria.

Only major oil marketers should be allowed.

We don't need useless Ibo man competition.

TheOldGods:
young man,. I never said they should keep or remove subsidy. I only mentioned that 24billilion is spent for reps accomodation only. It is not only fuel subsidy corruption, but also cost of governance corruption too should be looked and reduced. Dem no wan gree increase minimum order wage. 24 billion can pay up to 20,000 federal workers at 150k per month, instead of only 300 people or less

Electorate:






It is called Tinubuconomics, invented by bala blu bulaba...enjoy your renewed hopelessness...

Tianamen1:


The average petrol price in America today is the same as in 2006. Try to get this in your head. Prices are increasing in Nigeria because the Naira keeps falling in value.

The Naira's fall in value is due to population increase, changes in taste and preferences due to the internet (social media), and a lack of productivity amongst the Nigerian masses.

nairalanda1:


Na, you want the subsidy to stay.

At the end of the day, you think removing it is affecting the poor.

Sorry to dissapoint you, great-uncle.

TheOldGods:
I want subsidy to stay yes, but if government wants to remove it, they should find a way to do that without affecting you and me. Maybe if they made refineries worked and provided alternative to CNG gas now people use on Gen. Or maybe increased minimum wage before doing such things I won't complain . The money that is saved from subsidy, what has the government said it will do with it? Nothing. They told us nothing so who is not collecting the money? Where is it going?

nairalanda1:


1.The problem is, if subsidy stays, we would end up spending far more than we earn to pay for the thing.

2.So long as the production cost keeps rising, as well as transport cost, subsidy costs would rise, and rise. This will happen even if we stop corruption , stealing and smuggling of fuel.

3.The refineries must be allowed to work at a profit, and subsidy has to be removed to allow that to happen. You keep subsidy, the government sets prices, which severely limits the revenue refineries can make. Also, since subsidy means refineries and their people get paid regardless of production or not, stealing will still result.


All in all, we are spending so much money on subsidy, that something had to give.


Below: Our subsidy spending from 2010-19

Note that subsidy spending fell in 2012,and 2016...that was the time fuel prices were raised from N65 TO N97 (in 2012) and N87 to N145 (2016)....the raising of fuel prices or partial removal of subsidy saved us a lot of money then. But as the production cost rises...so does the money spent on subsidy that even the partial removal is not enough, and prices have to be raised.

TheOldGods:

What promise or commitment or statement has tinubu said he will do with the saved subsidy money? Did he say he will revamp our health sector with the money being saved? Did he say it was rail way. Note you, federal government has removed subsidy from universities too. As of today uniben is paying 170k. All these money where is it going to go or where is it going? Yet they have already approved 24billion for accommodation only for House of reps.

TheOldGods:

What promise or commitment or statement has tinubu said he will do with the saved subsidy money? Did he say he will revamp our health sector with the money being saved? Did he say it was rail way. Note you, federal government has removed subsidy from universities too. As of today uniben is paying 170k. All these money where is it going to go or where is it going? Yet they have already approved 24billion for accommodation only for House of reps.

nairalanda1:



That's a quesiton you have to ask your local APC supporter, not me, as I did not vote for them, do not trust them or even their opposite numbers in the PDP or LP, and wish that Nigerians voted for smaller parties in the last election.

One thing I always say is that Nigerians too have to put heat under their leaders. (Hell, even one prominent politican once said that Nigerians do not put heat under their feet long enough which is why it is easy for them to steal).

But the main reason why we are not rich is simple. We are not earning enough money. And so long as we rely on oil money we would always have that problem. That and so long as APC kkeeps on the corruption.


P.S And 24 billion won;t pay for a month;s subsidy nor would it be enough for one university. Maybe several primary schools or secondary schools...and it won't do much for one tertiary hospital. And yes, those senators and reps don't need that money.

nairalanda1:


By the way, you can now see why we cannot spend more money on subsidy?

Subsidy costs grow year in and year out. The more they grow, the more they eat out of our revenue.

TheOldGods:
If we have nothing else to gain from the government, either they are not building hospitals for us, then they should keep paying subsidy. We pay tax on almost everything. Where the hell is all that money going to go now the subsidy is out

TheOldGods:
Bro even if we are rich, super rich and we don't put that heat like you said, the government will still squander the money. Tell me which hospital in Nigeria has a roof for helicopter emergencies? Even when oil was selling high, the money was looted, yet they go outside to enjoy that amenities. The simple thing is our leaders are very corrupt. We don't need to be so rich to build good hospital's where anyone can go. We don't need to be so rich to have constant electricity. Do you get money once and pay your house rent? Shebi you save it over time. If the government had project and was doing it small small but now since the last 20 years, we would have constant electricity, hospitals that can even do heart transplantation easily.

a4cube:
Nnpc sold something that is not petrol last Yr to motorist. Hope you knew about it. Fear of ibo man is keeping Nigeria down. Everyone is chopping the breakfast.

mrvitalis:

Speak for yourself sir
I have knowledge n technology

CodeTemplar:
Naira strengthens and an imported product goes up in price. How is that possible?

georgeakins:


What is keeping Alaigbo down?
South East has been the most backward region since independence till date.
Nobody fears you, they just hateful you.
So, stop fooling yourselves

a4cube:
What kept Alaigbo down is the same thing that kept ala Yoruba and Ala Hausa down not forgetting that it also kept Nigeria down that is making everyone to japa. You can keep hating the Igbos, do we give a flying monkey about your hate? Capital NO. The hate is a burden to you and may kpai you if care is not taken.
Minus Lagos, Alaigbo is more developed and peaceful to your region.

Go and Verify.

nairalanda1:


By the way, you can now see why we cannot spend more money on subsidy?

Subsidy costs grow year in and year out. The more they grow, the more they eat out of our revenue.

Tianamen1:


Your second chart shows that the difference between gross revenues and subsidy payments between 2020 and 2022 remained constant at about 3.5 trillion.