₦airaland Forum

NothingDoMe:
Yes! Trump is planning to crash it down further via ramping up shale production.

Decrease in crude oil price doesn't favor more shale oil production. It's marginally too expensive

As oil price falls it means less money for government from selling crude hence exchange rate will have to go up to make up for the shortfall after exchanging crude oil dollars to naira, what happens when exchange goes up?

SoftSport:
Big thanks to president Tinubu, and Opec for working on oil production surely this price drop will help make things cheaper for Nigerians.

Robot

ComradeKunle:
Propaganda from the demonic APC.

/

Many people believe and cheer the lies.

Watch out.

/

.

iwaeda:
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

A lways A nother
P proclaim P ropaganda
C onfusion C ommunicàted.

ComradeKunle:
Propaganda from the demonic APC.

Marketers are APC again?


Na Opposition induced psychosis be this ooo 😆

SoftSport:
Big thanks to president Tinubu, and Opec for working on oil production surely this price drop will help make things cheaper for Nigerians.

Tinubulized reasoning for emilokan sheep's.

Till then, we are waiting

JASONjnr:
This will go a long way.


But I can net my last kobo...... Prices of fare and market prices will not drop.

The peoppe claiming to be in charge of business and development from a dotted region will never let the price to reduce.

The problem of Nigeria is partially caused by them.... but they are professional in pointing fingers.

Just look at what this boy is saying. One Nigeria my foot.

If you're wise...

Expect the opposite

iwaeda:
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

The Road transport workers and drivers are singing a different song. They said that prices of other things such as plug and tyre hasn't reduced

SoftSport:
Big thanks to president Tinubu, and Opec for working on oil production surely this price drop will help make things cheaper for Nigerians.

To flog you just dey hungry me walahi. How did Tinubu work with Opec to reduce price? The oil price reduction is due to uncertainty with the US ramping up production to the world crude market which will cause oversupply which drops price. Again for Nigerian government, oil price has to go up so that they can get more revenue from crude oil sales.

JASONjnr:
This will go a long way.


But I can net my last kobo...... Prices of fare and market prices will not drop.

The peoppe claiming to be in charge of business and development from a dotted region will never let the price to reduce.

The problem of Nigeria is partially caused by them.... but they are professional in pointing fingers.

Don't be a coward mention who those people are. Call them by their tribe name.

NothingDoMe:
Yes! Trump is planning to crash it down further via ramping up shale production.

No, he can't have it both ways.
Either shale production is sustained or the price of oil remains high.
Shale oil is unprofitable at lower oil price.
If it goes much lower(below $60), most US shale producers will run out of business.

iwaeda:
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

In Wike's voice, "all fake".

Decrease in what percentage?
Things no dey fall for naija

SoftSport:
Big thanks to president Tinubu, and Opec for working on oil production surely this price drop will help make things cheaper for Nigerians.

Wicked Bot. I will soon deactivate you with my anti bot program.

Shame on you.

iwaeda:
Are they the one increasing port charges almost every hour?

One told me, he wasn't going into business to remain like the abokis...

Tell me if this isn't a contributory factor to the hardship.

ComradeKunle:
Propaganda from the demonic APC.

Which kind mumu be all this ones

ahamonyeka:
Is there any price of things in nigeria that ever goes up and comes down?

it will go up with 300 naira then comes down with 5 naira and the government will say there is a reduction in price. Very funny country.

ComradeKunle:
Propaganda from the demonic APC.

iwaeda:
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

I never knew APC is the owner of vanguard newspaper?

iwaeda:
THERE are indications that Nigerians would pay less for the Premium Motor Spirit, PMS, also known as petrol as the price of Brent dropped to $65 per barrel from $69.90 per barrel in the global market.

The price of Brent is used globally to benchmark the prices of other crudes – major feedstocks – and by extension petroleum products prices.

Checks by Vanguard indicated that the development was partly fueled by the already heavy losses following U.S. President Donald Trump’s announcement of sweeping new tariffs.

The checks further showed that it was also fueled by the decision of the Organisation of Oil Producing Countries and its allies, also known as OPEC+ to increase oil output by 410,000 barrels per day starting in May 2025 far above the 135,000 barrels originally planned.

Depot owners slash petrol prices

Already, the depot prices of Mainland, A.Y.M and Ever have dropped to N918 per litre from N920 and N919 from N920 per litre, respectively.

Also, the depot prices of Prudent, Eterna and Soroman have dropped to N912 from N913 per litre, N897 from N900 per litre and N915 from N916 per litre, respectively.

According to petroleumprice.ng, oil marketers would likely adjust their pump prices downwards as they get new supplies next week, if the current market condition persists.

Expect decrease in fares, goods, services — marketers

In a telephone interview with Financial Vanguard, weekend, the President of Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Billy Gillis-Harry, expressed optimism that the development would culminate in low costs of fares, goods and services if the fundamentals persist in the market.

However, in a report, OPEC, stated: “The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 3 April 2025, to review global market conditions and outlook.

“In view of the continuing healthy market fundamentals and the positive market outlook, and in accordance with the decision agreed upon on 5 December 2024, subsequently reaffirmed on 3 March 2025, to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 411 thousand barrels per day, equivalent to three monthly increments, in May 2025.

“This comprises the increment originally planned for May in addition to two monthly increments. The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation.

“The eight countries reaffirmed their commitment to the voluntary production adjustments agreed at the 53rd Joint Ministerial Monitoring Committee, JMMC meeting on 3 April 2024. They also confirmed their intention to fully compensate any overproduced volume since January 2024 and to submit updated front-loaded compensation plans to the OPEC Secretariat by 15 April 2025.”
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

Tbh, the prices of goods and transportation are NEVER going to drop unless you have official price control mechanisms in place in each State of Nigeria overseen by the State Governors. The level of greed by Nigerians to rip their fellow citizens on the street level and make quick profits is largely responsible for a lot of hyperinflation for many years in Nigeria. The State Governors led by Babajide Sanwo-Olu of Lagos State MUST introduce specially leased CNG-fueled cargo trucks and CNG-fueled trains, etc, to URGENTLY bring cheaper food commodities from the farming belts in each Nigerian State right into the major city centers in order to crash food prices for folks over there in Nigeria and stop sitting on their bums! The greedy road transport unions should not be part of this move because they already said they will NOT reduce the cost of transportation over the reduction of fuel price from the refineries. CNG fuel costs N250 per standard cubic feet of gas which is the cheapest fuel and way cheaper than the Dangote Petrochemical Refinery's PMS fuel. Dangote can still sell PMS abroad in exchange for FX.

The exchange rate of N1600 to 1 USD will NOT be a hindrance in dropping prices of goods and services significantly with CNG-fueled vehicles and food trucks specially leased by Lagos State and other States from Lanre Shittu Motors which already has a Lagos factory making CNG vehicles OR Dangote which has a truck assembly factory already in Lagos.

The regulation of high prices (due to artificial inflation) is largely within the purview of State Governors such as Babajide Sanwo-Olu and Dapo Abiodun of Lagos and Ogun States. I've always emphasized on this fact even before the 2023 President elections in Nigeria BUT the largely uninformed who do NOT understand political job descriptions like to relentlessly insult and scapegoat just one man (Tinubu) out of over 230 million folks. People must learn to be problem solvers and get financially literate instead of complaining as well because Trump's global tariff trade wars will further send the global economy into a tail spin in 2025 leading into 2026 and those who are NOT prepared for the dire unintended consequences will be more negatively affected economically. A word is enough for the wise. Period.

Xisnin:
No, he can't have it both ways.

Either shale production is sustained or the price of oil remains high.

Shale oil is unprofitable at lower oil price.
If it goes much lower(below $60), most US shale producers will run out of business.

Succinctly stated.

Konquest:
Tbh, the prices of goods and transportation are NEVER going to drop unless you have official price control mechanisms is place in each State of Nigeria overseen by the State Governors. The level of greed by Nigerians to reap their fellow citizens on the street level and make quick profits is largely responsible for a lot of hyperinflation for many years in Nigeria. The State Governors led by Babajide Sanwo-Olu of Lagos State MUST introduce specially leased CNG-fueled cargo trucks and CNG-fueled trains, etc, to URGENTLY bring cheaper food commodities from the farming belts in each Nigerian State right into the major city centers in order to crash food prices for folks over there in Nigeria and stop sitting on their bums! The greedy road transport unions should not be part of this move because they already said they will NOT reduce the cost of transportation over the reduction of fuel price from the refineries. CNG fuel costs N250 per standard cubic feet of gas which is the cheapest fuel and way cheaper than the Dangote Petrochemical Refinery's PMS fuel. Dangote can still sell PMS abroad in exchange for FX.

The exchange rate of N1600 to 1 USD will NOT be a hindrance in dropping prices of goods and services significantly with CNG-fueled vehicles and food trucks specially leased by Lagos State and other States from Lanre Shittu Motors which already has a Lagos factory making CNG vehicles OR Dangote which has a truck assembly factory already in Lagos.

The regulation of high prices (due to artificial inflation) is largely within the purview of State Governors such as Babajide Sanwo-Olu and Dapo Abiodun of Lagos and Ogun States. I've always emphasized on this fact even before the 2023 President elections in Nigeria BUT the largely uninformed who do NOT understand political job descriptions like to relentlessly insult and scapegoat just one man (Tinubu) out of over 230 million folks. People must learn to be problem solvers and get financially literate instead of complaining as well because Trump's global tariff trade wars will further send the global economy into a tail spin in 2025 leading into 2026 and those who are NOT prepared for the dire unintended consequences will be more negatively affected economically. A word is enough for the wise. Period.

So I am government officials that will remove touts and agberos from Berger. Reduce fuel price.

JASONjnr:
This will go a long way.


But I can bet my last kobo...... Prices of fare and market prices will not drop.

The people claiming to be in charge of business and development from a dotted region will never let the price to reduce.

The problem of Nigeria is partially caused by them.... but they are professional in pointing fingers.

That’s how you go around this forum disgracing your parents.

Are the people from the dot region responsible for making policies in the country?

This post sounds like one made by a person that is running mad.

JASONjnr:
This will go a long way.


But I can bet my last kobo...... Prices of fare and market prices will not drop.

The people claiming to be in charge of business and development from a dotted region will never let the price to reduce.

The problem of Nigeria is partially caused by them.... but they are professional in pointing fingers.

^^^
This is not a valid argument.

Who exactly are these 'people' you say are responsible for keeping prices high - and how are they doing it? Is it cartel activity? Collusion among market players to create a price floor? Is there some form of non-state approved price control at work? What exactly?

You can play the political games on politics thread - not much thought or brain work is required there. But threads on economics or finance won't accept that nonsense.

Address the questions I put to you up there. We are waiting for your response.

Konquest:
Tbh, the prices of goods and transportation are NEVER going to drop unless you have official price control mechanisms is place in each State of Nigeria overseen by the State Governors. The level of greed by Nigerians to reap their fellow citizens on the street level and make quick profits is largely responsible for a lot of hyperinflation for many years in Nigeria. The State Governors led by Babajide Sanwo-Olu of Lagos State MUST introduce specially leased CNG-fueled cargo trucks and CNG-fueled trains, etc, to URGENTLY bring cheaper food commodities from the farming belts in each Nigerian State right into the major city centers in order to crash food prices for folks over there in Nigeria and stop sitting on their bums! The greedy road transport unions should not be part of this move because they already said they will NOT reduce the cost of transportation over the reduction of fuel price from the refineries. CNG fuel costs N250 per standard cubic feet of gas which is the cheapest fuel and way cheaper than the Dangote Petrochemical Refinery's PMS fuel. Dangote can still sell PMS abroad in exchange for FX.

The exchange rate of N1600 to 1 USD will NOT be a hindrance in dropping prices of goods and services significantly with CNG-fueled vehicles and food trucks specially leased by Lagos State and other States from Lanre Shittu Motors which already has a Lagos factory making CNG vehicles OR Dangote which has a truck assembly factory already in Lagos.

The regulation of high prices (due to artificial inflation) is largely within the purview of State Governors such as Babajide Sanwo-Olu and Dapo Abiodun of Lagos and Ogun States. I've always emphasized on this fact even before the 2023 President elections in Nigeria BUT the largely uninformed who do NOT understand political job descriptions like to relentlessly insult and scapegoat just one man (Tinubu) out of over 230 million folks. People must learn to be problem solvers and get financially literate instead of complaining as well because Trump's global tariff trade wars will further send the global economy into a tail spin in 2025 leading into 2026 and those who are NOT prepared for the dire unintended consequences will be more negatively affected economically. A word is enough for the wise. Period.

Price controls always end in tears. They don't work

iwaeda:
https://www.vanguardngr.com/2025/04/oil-prices-drop-expect-decrease-in-fares-goods-services-marketers-tell-nigerians/

Very foolish reasoning here. If oil prices drop, oil revenue and foreign reserves will also drop. This means that the pressure on the naira to depreciate will increase and all imported goods and services will become more expensive. If oil prices keep dropping oil marketers will be monitoring the relative foreign petrol price to the Nigerian petrol price and if the foreign price of petrol falls below the Nigerian petrol price they will supply only Nigerian consumers and collude to reduce production and keep charging us the high prices today. If it is the other way around that foreign petrol prices rises above Nigerian petrol prices - due to the exchange rate depreciation - then you can expect the pump price of fuel in Nigeria to keep rising until it gets close to the foreign petrol price. Either way Nigeria is fooked!

efficiencie:
Very foolish reasoning here. If oil prices drop, oil revenue and foreign reserves will also drop. This means that the pressure on the naira to depreciate will increase and all imported goods and services will become more expensive. If oil prices keep dropping oil marketers will be monitoring the relative foreign petrol price to the Nigerian petrol price and if the foreign price of petrol falls below the Nigerian petrol price they will supply only Nigerian consumers and collude to reduce production and keep charging us the high prices today. If it is the other way around that foreign petrol prices rises above Nigerian petrol prices - due to the exchange rate depreciation - then you can expect the pump price of fuel in Nigeria to keep rising until it gets close to the foreign petrol price. Either way Nigeria is fooked!

All the more reason why Nigeria must diversify and industrialize

Manufactured goods and services