One mind is telling me that fed govt wants to increase price of fuel

nairalanda1:


Because Nigerians do not want to pay the market price of petrol and power.

That is why you have epileptic power and epileptic petrol supply.

Right now, you all are supposed to pay N184 per kwh of power, and N1000 and above for petrol. Yet, only 20% of us pay above N184 per kwh for power now, and petrol is below N800 at most filing stations, N900 at worst.

SO, at the end, nothing would smoothly run.

Subsides are supposed to bridge the gap, but are usually not sufficent. Corruption is a part of the issue, but the main thing is that it costs money to produce petrol and power.

And if you are not paying above the cost of production, issues are going to arise.

DO you have issues with your phone usage? Issues with food supply? Or issues sending a parcel? No, because they all are allowed to charge their prices for services rendered. Power , like I said is supposed to be N184, yet until recently, 100% of the country was paying below N71 per kwh. Now it is 80%

See, profit lubiricates things. take away the right of profit in the name of helping the poor, and providers will find it difficult to give you a-grade service, because it would make them so broke, their accounts would be reading something like minus one million dollars..lol.

You won't sell your product below what it cost to produce it to help poor nigerians.

Many Nigerians are ready to pay the price for this service, but also consider that 60% or more of Nigerians are living below the poverty line . What’s the minimum wage, what’s government making easier for the populace bar large.. so subsidy must stay . The problem is unproductive and corrupt government bodies . Once the people trust the government they know it’s a matter of time before thier sufferings come to an end.

karkinase:

Many Nigerians are ready to pay the price for this service, but also consider that 60% or more of Nigerians are living below the poverty line . What’s the minimum wage, what’s government making easier for the populace bar large.. so subsidy must stay . The problem is unproductive and corrupt government bodies . Once the people trust the government they know it’s a matter of time before thier sufferings come to an end.

Well, keeping subsides to help the nigerians below the poverty line is why we have massive debts, and bad refinereis, and a massively corrupt subsidy regimen.

It's basically a between the devil and deep blue sea thing, and something our leaders have faced since 1973.

Niger republic, has a poverty rate bigger than Nigeria. And yet, fuel costs N1000 and above, because they are also very poor to pay for subsidies, and because the refinery there...which runs on domestic crude...is a dollar earner...so it has to earn a profit.

The better way, really, is free market. Selling fuel , even at N700 and less, is a nice way to ruin things. At least, with a free market, we would have something called investment...which helps generate jobs and more jobs.

karkinase:

Many Nigerians are ready to pay the price for this service, but also consider that 60% or more of Nigerians are living below the poverty line . What’s the minimum wage, what’s government making easier for the populace bar large.. so subsidy must stay . The problem is unproductive and corrupt government bodies . Once the people trust the government they know it’s a matter of time before thier sufferings come to an end.

Sorry for quoting you again.

Telephony is an expensive thing. When GSM came here, it was expensive. Very much so. MY first sim in 2004, and it took me two years to make the plunge...cost me N7000. Ntel. I did not even get MTN till 2007..when the price had dropped to make it make sense.

Yet because government let there be free market, it made sense for investment to flow into GSM, and for us to go into a point where phones went from being for the very rich...to even poor people having phones.

That is how the free market works.

If minister Heineken is the minister of petroleum for state who then is minister of petroleum 🤔🤔🤔🤔

"Scarcity worsens nationwide", yet no state or city in the south south or south east was mentioned. Abi dem no follow for "nationwide"?

NeckingNgulping:
I have said it before, and I will say it again: the only solution to this shit hole called Nigeria is disintegration.

Divide this country now.

First divide ur family first. I.pob

Racoon:
Another round shege promax suffering for the common man.Meanwhile, the Tinubu mummified zombies are mute now.

The shege starting from ur household

sanpipita:
I'm surprised APC urchins are not asking how many refineries did Peter Obi build as governor, guess he didn't build any that's why we have fuel scarcity

They were told that the price is expected to drop and that's why the gas station are not selling. Can you imagine this kind of voodoo economics? Someone said that they are usually given instructions on their WhatsApp group.

NeckingNgulping:


Why is it that we don't see those guys who always paint the federal government in good light on threads like these?

I'm not a member of any political party, neither I'm i a political a** licker.

what will they have to say?? You will never see that loony dolt Reno say anything about issues like this o

nairalanda1:


Because Nigerians do not want to pay the market price of petrol and power.

That is why you have epileptic power and epileptic petrol supply.

Right now, you all are supposed to pay N184 per kwh of power, and N1000 and above for petrol. Yet, only 20% of us pay above N184 per kwh for power now, and petrol is below N800 at most filing stations, N900 at worst.

SO, at the end, nothing would smoothly run.

Subsides are supposed to bridge the gap, but are usually not sufficent. Corruption is a part of the issue, but the main thing is that it costs money to produce petrol and power.

And if you are not paying above the cost of production, issues are going to arise.

DO you have issues with your phone usage? Issues with food supply? Or issues sending a parcel? No, because they all are allowed to charge their prices for services rendered. Power , like I said is supposed to be N184, yet until recently, 100% of the country was paying below N71 per kwh. Now it is 80%

See, profit lubiricates things. take away the right of profit in the name of helping the poor, and providers will find it difficult to give you a-grade service, because it would make them so broke, their accounts would be reading something like minus one million dollars..lol.

You won't sell your product below what it cost to produce it to help poor nigerians.

How did you arrive at N184 / kwh?

nairalanda1:


Because Nigerians do not want to pay the market price of petrol and power.

That is why you have epileptic power and epileptic petrol supply.

Right now, you all are supposed to pay N184 per kwh of power, and N1000 and above for petrol. Yet, only 20% of us pay above N184 per kwh for power now, and petrol is below N800 at most filing stations, N900 at worst.

SO, at the end, nothing would smoothly run.

Subsides are supposed to bridge the gap, but are usually not sufficent. Corruption is a part of the issue, but the main thing is that it costs money to produce petrol and power.

And if you are not paying above the cost of production, issues are going to arise.

DO you have issues with your phone usage? Issues with food supply? Or issues sending a parcel? No, because they all are allowed to charge their prices for services rendered. Power , like I said is supposed to be N184, yet until recently, 100% of the country was paying below N71 per kwh. Now it is 80%

See, profit lubiricates things. take away the right of profit in the name of helping the poor, and providers will find it difficult to give you a-grade service, because it would make them so broke, their accounts would be reading something like minus one million dollars..lol.

You won't sell your product below what it cost to produce it to help poor nigerians.

I get your point but everything all boils down to the ineptitude of the central government.

I’ll take for example a country of similar economic outlook like ours, Vietnam.

What the Vietnamese have done in the recent past was to invest heavily in electricity even whilst taking loans in the process. They were also heavily subsidizing electricity at some point (as I type this, the Vietnamese pay about N11.5 the Nigerian Naira equivalent as electricity cost).

These business friendly environment was what triggered telecoms giant, Samsung to set up a massive factory where about 50% of their phones are being manufactured.

We are in 2024 and topical issues like this shouldn’t be an issue. Just to add, as at 2015, our GDP Per Capita was in the same bracket as what is obtainable in the aforementioned country. But as at today, the draconian policies of the central government has reduced our GDP Per Capita to half of what’s obtainable there, yet the central government wants Nigerians to pay more than 10x of what the Vietnamese are paying.

Isn’t that sheer wickedness?

I be wan come establish for naija this year but as wetin I dey see, dey read for internet the embankment will be put on-hold to a journey in another white man's land as a sojourner.

nairalanda1:


Well, keeping subsides to help the nigerians below the poverty line is why we have massive debts, and bad refinereis, and a massively corrupt subsidy regimen.

It's basically a between the devil and deep blue sea thing, and something our leaders have faced since 1973.

Niger republic, has a poverty rate bigger than Nigeria. And yet, fuel costs N1000 and above, because they are also very poor to pay for subsidies, and because the refinery there...which runs on domestic crude...is a dollar earner...so it has to earn a profit.

The better way, really, is free market. Selling fuel , even at N700 and less, is a nice way to ruin things. At least, with a free market, we would have something called investment...which helps generate jobs and more jobs.

So they have stopped paying subsidy? So your subsidy removal has stopped the corruption in the system.

On a second thought, so you guys knew all these but fought intensely against subsidy removal by GEJ?

nedu666:
One mind is telling me that fed govt wants to increase price of fuel

I thought as well, but maybe till after NMW

Ibrahim79mantu:

How did you arrive at N184 / kwh?

It's the figure given by the government recently....specifically the NERC chairman. (He should know, they are the geng in charge of the pricing of power).

See the article here

Elusive001:



So they have stopped paying subsidy? So your subsidy removal has stopped the corruption in the system.

SO, you believe the government propaganda that they have removed subsidy?

Okay...

On a second thought, so you guys knew all these but fought intensely against subsidy removal by GEJ?

Actually, it was in 2012, that my eyes were opened to why government wanted to remove subsidy. AM glad i woke up then. SO, I wasn't at Ojota, really.

ogododo:


https://dailytrust.com/petrol-scarcity-worsens-nationwide/

This is a fat lie, in SE is not so, i travelled to Onithsa from Abuja over the weekend

Bekermann:


I get your point but everything all boils down to the ineptitude of the central government.

I’ll take for example a country of similar economic outlook like ours, Vietnam.

What the Vietnamese have done in the recent past was to invest heavily in electricity even whilst taking loans in the process. They were also heavily subsidizing electricity at some point (as I type this, the Vietnamese pay about N11.5 the Nigerian Naira equivalent as electricity cost).

These business friendly environment was what triggered telecoms giant, Samsung to set up a massive factory where about 50% of their phones are being manufactured.

We are in 2024 and topical issues like this shouldn’t be an issue. Just to add, as at 2015, our GDP Per Capita was in the same bracket as what is obtainable in the aforementioned country. But as at today, the draconian policies of the central government has reduced our GDP Per Capita to half of what’s obtainable there, yet the central government wants Nigerians to pay 10x of what the Vietnamese are paying.

Isn’t that sheer wickedness?

Well, VIetnam is a state run concern. And they have a lower populaton than we do. Nigeria has privatised power since 2013...and the right thing should have been to let them set their prices...but no.

As for examples..let's use Ivory coast. It used to be like Nigeria with even grid collapsing...until 1993, when they privatised power, and even additionally let the sector set its prices.

NO power cuts since 1993, no problems with grid collapse.

As for Vietnam

The government subsidy for electricity is no longer appropriate given that the country is to continue facing a power shortage for socio-economic development.

According to economist Tran Dinh Thien, electricity prices in Vietnam are subsidised by the government to maintain a low level with the aim of supporting the disadvantaged in society, despite rising input costs.

The subsidised electricity prices have caused a market imbalance, where power producers such as Vietnam Electricity suffer heavy losses and the market experiences a supply shortage.

“High electricity prices are not as big a problem as power cuts,” said Thien, who added that market-based pricing should lead to the development of the electricity industry.

He said that electricity prices should be sufficient to cover product costs, while the government’s subsidy must be separated from the pricing.

“Electricity prices must ensure a balance between generation and consumption

SOURCE

SO, issues

NeckingNgulping:
I have said it before, and I will say it again: the only solution to this shit hole called Nigeria is disintegration.

Divide this country now.

Is not the only solution but it is one of it

Brendaniel:
Imagine Paying subsidy of almost 1 trillion monthly and still having fuel scarcity

Imagine having Dangote refinery and still having fuel scarcity

Imagine paying 1200 for fuel and still having fuel scarcity

Imagine investing 1.5 billion dollars to fix Port-harcort refinery and still fuel scarcity

Propaganda is not governance....

Na Dangote own shock me pass.... not producing for the Nigerian people...

Nigeria is not suppose to be a country the wickedness in Nigerian people in position is just tooooooooòo much

Hellfire really dey learn work..

These people are just wicked.... agbado government demons...

Na to find online gigs to balance my daily hustle.

Meanwhile the minister of petroleum is gallivanting all over the world as if nothing is happening.

Sack the minister of petroleum now!!

NeckingNgulping:


Why is it that we don't see those guys who always paint the federal government in good light on threads like these?

I'm not a member of any political party, neither I'm i a political a** licker.

They may be waiting for directives on what to say. They may be undergoing program installation now.

NeckingNgulping:
I have said it before, and I will say it again: the only solution to this shit hole called Nigeria is disintegration.

Divide this country now.

The Zoo is dead

Even with fuel subsidy removal and the tripling of hardship across the country

I dont know how else to describe failure

@helinus and other dummmmmmiiiess

I like the suffering because we voted for it and we want it to continue.

I can't wait to experience using a wheelbarrow of money to buy bread.

nairalanda1:


Well, VIetnam is a state run concern. And they have a lower populaton than we do. Nigeria has privatised power since 2013...and the right thing should have been to let them set their prices...but no.

As for examples..let's use Ivory coast. It used to be like Nigeria with even grid collapsing...until 1993, when they privatised power, and even additionally let the sector set its prices.

NO power cuts since 1993, no problems with grid collapse.

As for Vietnam


SO, issues

He said that electricity prices should be sufficient to cover product costs, while the government’s subsidy must be separated from the pricing.

The central government can do this if they want to.

The purchasing power of Nigerians is too weak to absorb the pressures facing the removal of subsidy on Petroleum Products, Education, Electricity amongst others.

Bekermann:


He said that electricity prices should be sufficient to cover product costs, while the government’s subsidy must be separated from the pricing.

The central government can do this if they want to.

The purchasing power of Nigerians is too weak to absorb the pressures facing the removal of subsidy on Petroleum Products, Education, Electricity amongst others.

Then we will still have bad light.

Nigeria can't fund a good enough subsidy for power, and no I am not excusing corruptuion...the corruption is even making matters worse, and we got to fight it, but sadly our poltiicans and most people aren't interested , and it angers me. We are not earning enough, and our debt is eating most of our earnings.

But the main thing is we rely on one source of income...oil. For a nation our size we should have a diverse income portfolio, with manufacturing forming a great part of it, before we can earn money to supply power perfectly and subsidise it.

Vietnam is struggling to maintain subsides...see the power shortages coming.

what is Tinubu job as the substantive petroleum minister?

ZombieTAMER:


I kinda like how Tinubu is giving it to them back to back

They'll confess that Buhari was better