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Nairaland Forum / Nairaland / General / Politics / Petrol Landing Cost Hits N1,000/litre On FX Crisis (29874 Views)
Petrol Landing Cost Hits N1000 Per Liter Mark / Depots Deserted As Petrol Landing Cost Hits ₦720/Litre / Petrol Landing Cost Hits ₦216, Daily Subsidy Now ₦4.64 Billion (2) (3) (4)
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Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:07pm On Feb 14 |
The landing cost of imported petrol has surpassed N1,000 per litre as the country’s foreign exchange crisis deepened, according to findings by BusinessDay. SOURCE 3 Shares
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Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Jnas: 5:13pm On Feb 14 |
In the end, the voters, not politicians are at the receiving end 44 Likes 7 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:14pm On Feb 14 |
If one has been following this thing for as long as I have, you would see that we are paying a subsidy. 1.APC apologists cry that fuel is not being subsidised...well it is. Landing cost was N720 as at October, now it is N1000..meaning subsidy costs rose from N20-140 to N300-420 per liter today. We are pushing ourselves into more debt so see where we are 2.IN 2012 january, landing cost was N99 per liter, now it is N1000. Fuel price was N97 per liter now it is N580-720. Assuming Nigeria kept fuel at N97 per liter as some PDP apologists wanted , by now subsidy would have risen from N2 per liter to N920 per liter ...and note that fuel consumption has risen over the years. We would have a debt that would make our current debt look like the pocket money you give your 10 year old. See how much subsidy costs? But all of you, be it PDP or APC or LP, many of you want it. Oya, come and get your fuel at N97....lol. MOdified I find it amusing some people think I support APC because of this comment. APC is still paying subsidy, meanwhile I oppose payment of subsidy....so apparently I am an aAPC supporter. See, I don't get NIgerians. Someone is supporting something that is in opposition to the party in power, yet is a supporter of the party. I pray God opens your eyes to see what I see, all ye who quote me, then you will understand there is a method to my madness. 19 Likes 4 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by AllTheWayUp: 5:18pm On Feb 14 |
TINUBU (DISASTER) has befallen Nigeria. Those who voted TINUBU and those Zombies still supporting Tinubu janja-weed economic policies should hide their face in shame Nigeria is experiencing the GREAT TINUBULATION 143 Likes 13 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by RepoMan007: 5:21pm On Feb 14 |
nairalanda1:Great. |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Tunechi5(m): 5:21pm On Feb 14 |
Sigh 😔 😔 How about the ph refinery? 6 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by AllTheWayUp: 5:22pm On Feb 14 |
Tunechi5:Thats is just a propaganda by TINUBU and his fellow zombies 79 Likes 8 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:22pm On Feb 14 |
RepoMan007: Well, at the end of the day, no matter how many funny stories you tell about me (I no know any politican, the one I even know retired centuries ago, and is not in active politics for over 10 years self and was in PDP anyway)....things cost money, even petrol, and if you pretend it is cheap, wahala go result. See Venezuela wey sell fuel for N40, today their once powerful refinery has gone from refining 900000bpd to refining less than 100000bpd. Even NIgeria, subsidy dey since 1973, at the end we went from 400000 bpd in the 80's to 92000 in 2012, to 6500 in 2019. And you think subsidy works still. Anyway, cry, weep, abuse, get angry, and anyway...your beloved TInubu is still paying a subsidy self, so what are you angry about.....but so long as that subsidy remains, wahala dey. Good evening, son. 21 Likes 5 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by iwaeda: 5:22pm On Feb 14 |
nairalanda1:Yet they claimed , subsidy is gone. What a set of insincere leaders. Liars and falsehood spreaders. 9 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:25pm On Feb 14 |
Tunechi5: When that refinery starts, government should not sell fuel at a loss, because it would wreck the refinery. The experts state that any fuel refined in Nigeria would cost N70 less than the landing cost..so fuel better cost N930 at least, or more, certainly not below N700. We have not diversifed our economy at all, not regulated revenue from mining, not improved agriculture....so here we are. All our leaders, TInubu inclusive are to blame. Pretending that fuel is cheap even made matters worse. 9 Likes 1 Share |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:26pm On Feb 14 |
iwaeda: NIgerian leaders always sacrifice sane economics on the altar of politics. Remember that. |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Hoelujohn: 5:30pm On Feb 14 |
nairalanda1:Why cant they use part of our crude to exchange for refined products. With that they don't get to pay and they even sell to marketers 8 Likes 3 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:32pm On Feb 14 |
Hoelujohn: That was what we have been kinda doing all along...but anyway,we can't do it these days..expecially since most of our crude has been sold...even the future production...for debt service. 3 Likes 2 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Sibrah: 5:37pm On Feb 14 |
nairalanda1:don't tell me subsidy will be phased out. Nigerians can't take the hardship. |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:39pm On Feb 14 |
Sibrah: Yeah, but let's be honest, maintainig subsidy has brought a lot of problems for our economy. Now, let's be honest, I think there should be some subsidy for say the poorest of the poor. But what makes subsidy impossible in Nigeria is simple....we don;t have enough money for it. Yes our politicans loot, but we spent 10 trillion naira on subsidy in 2022, and 14 trillion in 2023. I doubt that any politican has looted that amount at all. Either we do as sane nations do and raise our tax to gdp and get the money that way, or we sell more cocoa, cotton and solid minerals to raise monies for things like fuel subsidy. Either that, or we forget about subsidy. 2 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by iwaeda: 5:42pm On Feb 14 |
nairalanda1:You have more dumb followers, who don't read, but put things on board. 9 Likes 2 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by History555: 5:51pm On Feb 14 |
nairalanda1: Abeg bros, who sold most of our crude and till when 3 Likes 1 Share |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 5:52pm On Feb 14 |
History555: The last administration. 1 Like 1 Share |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by gaby(m): 6:09pm On Feb 14 |
Should we just call it a wrap? Dead, buried, and gone. Poor Nigeria. 12 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Treasure17(m): 6:29pm On Feb 14 |
Tinubu must go. 5 Likes
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Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nnachukz(m): 6:32pm On Feb 14 |
N1100 to N1200 per litre loading. Loading.......98%. Except if someone is secretly paying subsidy after destroying the whole country economy. 10 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by OkCornel(m): 6:49pm On Feb 14 |
APC promises…a throwback 12 Likes 1 Share
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Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by MichaelSokoto(m): 8:16pm On Feb 14 |
nairalanda1: APC is a very useless party! 24 Likes 3 Shares |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by mightyhaze: 8:21pm On Feb 14 |
Shege after shege yea Shege after shege After shege after shege,..yeaa 11 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by HenryTimes: 8:46pm On Feb 14 |
I still dey talk am, AGO is a thousand plus, DPK is a thousand plus and while PMS is a little above 5hundred naira, HOW is it possible without subsidy 5 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by nairalanda1(m): 9:28pm On Feb 14 |
MichaelSokoto: So the fact that apc has been lying to you about subsides is trash? Didn't know you were an apc supporter. As for me apc and pdp are the same . And their policy o subsides is why we don't have cash right now for subsides. We are not the masters of our destiny now. 1 Like |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Nicepoker(m): 9:29pm On Feb 14 |
Venezuela here Nigeria comes 8 Likes |
Re: Petrol Landing Cost Hits N1,000/litre On FX Crisis by Twist4u: 9:58pm On Feb 14 |
nairalanda1: A fool at forty. You started well and ended poorly. Because like Oliver twist .... You are an APC Miscreant trying to rope PDP and LP into APC mess.that "They all said they will remove subsidy" The first paragraph of the report hit the nail on the head very hard " Landing cost was due to deepening forex exchange rate" Today exchange rate is 1$ =1,500, Feb 2024 under PDP regime 1999 - 2014, exchange rate range was between 1$ = 180 max. Your permutation is null and void. Because there's no way landing cost would have gotten to #1000 under a PDP economy with a rate of $1 = 180. Buhari was a Tragedy Tinubu is a confirm disaster. APC should not have existed. 70 Likes 12 Shares |
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