Islie:


https://leadership.ng/subsidy-removal-drags-down-petrol-consumption-by-28/

Law of demand. The higher the price the lower would be demand

thisisit:
Decrease in demand for petrol energy implies:

Decrease in productivity
Decrease in GDP
Decrease in per capital Income
Economic depression and stagnation

TOTAL = INCREASE IN MULTIDIMENSIONAL POVERTY

I agree. This isn't good omen at all.

A family member wanted to launch a snack production business this quarter, but he is really having a re-think as logistics transportation costs will take a huge chunk out of his pocket, not even mentioning production costs.

There is nearly no sane country that doesn't subsidize energy one way or another. Energy subsidy will drive production and the gains from the production will offset the cost of the subsidy

God1000:
True, Our roads have become very empty because so many people cannot fuel their vehicles anymore

Is this dividends of democracy?

no, it shows nigerians are poor

A lot of pro-subsidy people are going to soon be asking for the subsidy to come back.

But honestly, it should not. As time goes on, domestic refining might improve, and prices may 'come down'

Harsh as it sounds, subsidy should have gone since the early 1990's.

Day169:
Possibly from reduced smuggling of petroleum products across the borders.

How did it now amount to 28% when previously no one knew how much petrol nigeria consumed?

How was smuggling of petroleum products carried out across the borders?

nairalanda1:
A lot of pro-subsidy people are going to soon be asking for the subsidy to come back.

But honestly, it should not. As time goes on, domestic refining might improve, and prices may 'come down'

Harsh as it sounds, subsidy should have gone since the early 1990's.

But subsisdy was gone since 2020. Which subsisdy did Tinubu remove again in 2023?

In your second paragraph, you aren't even sure of what you are saying...."might improve"...."may come down".

Doesn't this show that all your theories are just a fabrication?

SirLakes:
Make people go buy Carmel

person wey no fit afford 550 per liter na em go feed Camel

JIBO4REAL:


Yes it’s still smuggling to our neighboring country but it’s not more profitable as it’s used to be …

That means removal of fuel subsidy didn't stop smuggling.

Are you aware that all previous "subsidy removals" were done because of "our neighbouring countries"?

risos:
Subsidy petrol from Nigeria no dey profitable for neighbouring countries again, expecting that figure to reduce next month too

How did subsidy petrol get to neighboring countries?

[/quote][quote author=BabaCommander post=124281932]28% only?
Even with domestic consumption falling....

What happened to the so called protest in neighboring countries? Abi na scam?
Or is it still being smuggled to Niger Republic and other neighboring countries even at the current price?

I mean, our domestic c

Was also wondering. A 28% decline seems to suggest most of the fuel was consumed in Nigeria

Government should ensure 24hrs power, that figure will get to 50%, and this will stabilize price of PMS.

masseratti:
unrelated to the topic, but I still don't think we are up to 200m tho.. My opinion.

We are...he gave you a realistic breakdown of how that figure of 28% reduction was reached

BabaCommander:
28% only?
Even with domestic consumption falling....

What happened to the so called protest in neighboring countries? Abi na scam?
Or is it still being smuggled to Niger Republic and other neighboring countries even at the current price?

I mean, our domestic c

You are waiting for a neighboring country to protest for you?

post=124281915:
Dearest Sane Nairaland members,
Sisi Yewande and Madam Ngo on behalf of All of us at [/b] are checking on you.

Times are hard
It is for the best future for us all.
No pain No Gain.
Guide your mental health.
Cut down on excesses and frivolity.
Keep joining us to pray for a better Nigeria 🇳🇬.
Slow and Steady we will get to the nation flowing with milk and honey.
A country of our dreams.
God bless you all.
God bless Nigeria 🇳🇬 🇳🇬 🇳🇬

We Love You all ❤️ 😍 💖


[b]Addendum : Enemies of Nigeria,
Skip this comment, it ain't for you.
Check the first line to see who it was addressed to.
If you do otherwise and quote to be negative or curse sane people here may you be miserable for life. (We will be talking to you in the language you understand going forward. )
Thanks and Cheers.

You said it well my comrade

make we dey manage

Yankiss:
It's not good news. Many people have abandoned essential travels. If emergency occurs transporting one to hospital is a big task,, especially among the masses. We should not look at the shrinkage in fuel consumption as good omen. In the long run it would ruin many things unless there is a way out or credible alternatives for the masses. We are still having 120 car convoy, while the masses have nothing to commute with. It's largely a poor masses impact problem. The rich are not that impacted. It is obvious.

Go and get a life. IPOB ASS LICKER

thisisit:
Decrease in demand for petrol energy implies:

Decrease in productivity
Decrease in GDP
Decrease in per capital Income
Economic depression and stagnation

TOTAL = INCREASE IN MULTIDIMENSIONAL POVERTY

You nailed it.The productivity of Nigerians has dropped considerably which will affect its per Capita income and ultimately the nations GDP.

The economy is seriously retrogresing because of this bad policy

This is bad news.
Evidence that people are suffering by excessive trekking and not going where they ought to go.

The stupid , thoughtless policy of emilokan,frog eyed, druggie has created an unknown, unheard of, unprecedented hardship on average Nigerian sufferhead masses!!! useless afonjati jati lot!na una go suffer am pass

Yes,many people now short cost for footwagin.

Yankiss:
It's not good news. Many people have abandoned essential travels. If emergency occurs transporting one to hospital is a big task,, especially among the masses. We should not look at the shrinkage in fuel consumption as good omen. In the long run it would ruin many things unless there is a way out or credible alternatives for the masses. We are still having 120 car convoy, while the masses have nothing to commute with. It's largely a poor masses impact problem. The rich are not that impacted. It is obvious.

Yeah, but eventually, we would get increased domestic refining coming up, as all them license holders for refineries don't have a choice, but to start work.

It may lead to a reduction in prices, but the era of prices below 200 naira is over. Petrol costs money to refine. Government has been protecting us from high fuel prcies for 5 decades, and it has cost us too too much.

Whoever is rich enough to own a car should be able to afford fuelling and that's why you see some are still driving .

God1000:
True, Our roads have become very empty because so many people cannot fuel their vehicles anymore

Is this dividends of democracy?

okoolori:


Go and get a life. IPOB ASS LICKER

The fuel price hike does not know AREWA,AFENIFERE or OHANEZE it cuts across board

Zupay:


After screaming SAI BABA for eight years!☹️

You and your likes are the real enemies of Nigeria.

What ever happens it's the poor and the low class that will be at the receiving ends.
Please How many political elite, politicians that you saw standing on queve during the cashless Policy , How many of them you saw looking for cash during that Period, How many of them has reduced their convoy because of this fuel Subsidy?
Average Nigerians will suffer for it seriously.
How many people you saw putting up Generator again like before?
We have long way to go.

Yankiss:
It's not good news. Many people have abandoned essential travels. If emergency occurs transporting one to hospital is a big task,, especially among the masses. We should not look at the shrinkage in fuel consumption as good omen. In the long run it would ruin many things unless there is a way out or credible alternatives for the masses. We are still having 120 car convoy, while the masses have nothing to commute with. It's largely a poor masses impact problem. The rich are not that impacted. It is obvious.

coputa:
The fuel price hike does not know AREWA,AFENIFERE or OHANEZE it cuts across board

And I said and repeat that you should get a life unless you are gaining front eh subsidy that is milking us dry... A sensible and patriotic person won't be commenting that thrash you are saying... Oh seems you are in abroad and you want Nigeria to be like abroad but you still wanna be buying cheap stuffs... While you are buying at higher rate there.... Let the petrol subsidy removal be... Good thing don't come easy.... Na so Europe and America start... Abi Na subsidy largesse dem take train you to school ni

mabea:
You and your likes are the real enemies of Nigeria.

For not being sycophants and not screaming SAI BABA?🙄

coputa:
The fuel price hike does not know AREWA,AFENIFERE or OHANEZE it cuts across board

So we keep the subsidy, and in a few years , when we are paying more than our revenue to keep the thing running, and really running out of money, you would he happy then.

okoolori:


And I said and repeat that you should get a life unless you are gaining front eh subsidy that is milking us dry... A sensible and patriotic person won't be commenting that thrash you are saying... Oh seems you are in abroad and you want Nigeria to be like abroad but you still wanna be buying cheap stuffs... While you are buying at higher rate there.... Let the petrol subsidy removal be... Good thing don't come easy.... Na so Europe and America start... Abi Na subsidy largesse dem take train you to school ni

So why did you guys support Tinubu in his misguided attempt to stop subsidy removal in 2012 then?

During that fuel hike and no cash wahala I bought a 30,000 mAh power bank....what a saver

I have not bought fuel for my gen for over a month now...like I never buy fuel 500+

The little fuel in my gen was fuel from NnPc at 189 or so. I only on the generator when I want to blend..

This was me who use to fill my 25 litre at NnPc for like 6k.

The day my last fuel go finish and I buy fuel 500.

I go come here come cry...for now my power bank day rescue me.

this report of 28 percent reduction is not true because the Nigerian public was never informed of the earlier true figures.

some people in love with subsidy management and the sweetness are still hanging around to propagate false naratives backed with imaginary fuel consumption figures.

we only hope that the PBAT will not succumb to various schemes coming out from evil pots of thinking and tactics to portray the knowledge of economic not well being of the Nigerian nation.

our ICT man, that can do without coming to office with his car, now come to office without yellow bus now. he Said for him t drive to office now, he will have to spent minimum of 5k to buy fuel to and fro. But if he take public bus to and fro with b 2200. to cut the story short. baba don park car for house o