₦airaland Forum

Umuchoke:
One agbado douchebag on second page was arguing that price for petrol is higher in the US. So I ask these fools to compare their meager #30,000 minimum wage to $1160 American minimum wage. If converted to naira that's around #878,688.40, almost close to a million.

Someone who earns that much wouldn't flinch to pay #1000 per liter of petrol. But how can one afford to pay #500 per liter when he earns #30k?

Those hailing Tinubu today are condemning the Buhari they once hailed. But if you ask me, Buhari is the lesser evil. Their hypocrisy stinks to the lowest hell!

Which is why the effort of Nigerians via NLC and TUC should be on increased minimum wage and less govt wastge (also bear in mind that less govt wastage also includes reduced staff, cos majority of people in govt are doing very little).

But the idea of pricing thing below their cost and govt making up the balance, which ends up creating a rent seeking economy, that I DO NOT SUPPORT!

Teymanhenry:
I think FG has to intervene this time, they should set a team to check if the reason for hike in electricity bills is valid. We use hydro Power. They should explain clearly how this hike in tariff correlates with their fuel consumption

Actually hydro is only about 15% of our electricity mix. The rest is thermal from gas. And almost all the equipment used in the industry is imported.

What we should have done by now is invest in grid scale solar farms of like 500MW. If we had done like 4 of those in last 5 years, we'd have had 2000MW that isn't fuel dependent and that would reduce the need for increases.

yemmit90:
These people are mad, they should give 24/7 power supply first before thinking of another increment.

With 24/7 power supply and prepaid meter, people can easily afford this because the money to fill gas and fuel the generators would be channelled to electricity bills.

Are you considering that with 24hr electricity, bills will almost triple!? The issue is not really about 24hrs it's about paying the appropriate price for what you use.l, even if it's for one hour.

Even if they increase it to N90 per unit, electricity from a gen ranges from N250 to N500 per unit, depending on the type and size of gen.

And if you doubt my calculation, if you have a typical 3.5kva gen, that outputs about 3000watts and will last 12 hours. The 3000w is 3Kw and used for 12 hours so in Kwh that's 36kwh. If you put 20litrs of petrol for those 12 hours @ 500 per litre =N10k

So N10k divided by 36Kwh = N277 per Kwh.

nedekid:
But Gen is more expensive.

Oh o... That totally defeats the argument.

And the other argument of “oh if Nigerians has 24hr power, they wouldn't mind paying“ makes no sense. Someone has electricity for 10hours ND his bill is N7k and he's owing. Is it when light is 24rhrs and his bill is N18k that he will then pay?

Agreed people should be metered, but meter is possible to get if you really make the effort to get it. Truth is that many people aren't making the effort. As is usual with Nigerians, they just expect the meter to show up at their house.

I'm sure they're all from the North. That's how those positions from up there behave. They believe governance is there right and there's alone

Tofax:
The North seems to have 11 appointees, the South West has 9 appointees, and South East 1, and South-South 1. That is fairness and equity?

Na for every single thread you dey post this thing?

DatIgalaDude:
The appointments reeks of nepotism.
Our leaders are all the same.

Much fairer spread of appointments than what Buhari did!

Kharol1234:
Press conference for wetin na?



Say she cook food



Nigeria police self na anywhere belle face them they put head.

That ain't police. Looks like man o war

CodeTemplar:
We can achieve such figures but the elites always want to own things and be in a position to make huge profits off the masses. I have a thread about what some renewable power projects cost and don't see what stops us from having such if not for this greedy capitalist pattern.

Good point. I have always wondered why we don’t have any large scale solar plant in Nigeria. Once a site is identified and security of supply from a solar manufacturer is established, a solar farm of 500MW can be ready in 2 to 3 years if serious. I guess the issue is making these projects bankable.

Agbegbaorogboye:
Are you aware the state of Georgia gave its residents cheques to subsidise fuel costs last year

That was probably a one off thing. Besides compare what you pay in taxes to what the average resident of Georgia pays as taxes each year. Make we no only compare the left side of the equation, we should also compare the right side of the equation too.

30 is a bit young for low libido. If it were like 45, I'd say that's a bit normal.

It's likely your testosterone levels are low.

princeemma69:
Tinibu should cut down on unprofitable parastatals that are gulping Nigerian revenue

Totally agree! There are agencies we have never heard of in this country, adding no value to it's people, yet their staff collect salary.

Temperatures in Houston are currently at about 36 degrees Celcius, which is very hot by Houston standards, even if many of us in Nigeria are kind of used to this. There have been many warnings sent out for residents to stay hydrated, stay indoors etc so that they don't suffer heatstroke and deaths.

However what struck me in all this is that the Texas State electricity regulator and grid operator - ERCOT- expects electricity demand to hit 80,000MW this weekend!!! That is about 16 times the estimated 5000MW TOTAL electricity production of NIGERIA!!

It's a real shame that Nigeria is sooo far behind. Hopefully, the recent Electricity Act signed by President Tinubu can grow our electricity sector significantly in the next 3-5 years.

TermuxDarkWeb:
Nonsense. This man is crossing his bandry, first it was the innocent CBN Governor Godwin Emefiele and is EFCC chairman. He's creating Lifetime enemies, but it will surely hit him hard. Am not surprised it's government of Yourba he wants to fix only Yourba Muslims in higher positions. NONSENSE

How is he crossing boundry. I thought we always say Nigerians are mega corrupt!?

He suspends people on allegation corruption, but we say he's crossing his boundry.

We also need to improve the quality of who gets to university sef.

This idea of focus on quantity over quality is killing us. Especially in the North where cut off marks for their students are as low as 100 out of 400. How can 25% be a pass mark.

Zonefree:

I don't understand.

I paid library fees
I paid for my hostel
I paid for my feeding
I paid for textbooks

So, how's tuition free in government schools?

Before, government go feed you again?

Redoil:
sorry to ask you
do you understand the basic economics of international trade in relation to FX?

You that you know, kindly educate us of the implications instead of asking everybody the same question.

touchLife:
Interesting, my question is where does dangote refinery comes in, will it also tap into the cng potentials too? And what will be the fate of pms, it most vehicles and machines are converted to use cng, what other purposes will pms be meant for?

Are you really asking these questions. How do you forsee a situation where even 10% of vehicles on Nigerian roads are converted to CNG in 5 years? So wouldn't the remaining 90% still use their petrol ND diesel? Recall it ain't free to convert to CNG.

Besides the analysis of CNG costing N100per litre is faulty cos it doesn't follow that 1litre of CNG provides the exact engine efficiency of 1litre of petrol.

Corridon:
Anything for the good of Nigeria is welcome. Only if they won't loot the money meant for subsidy.

There is this constant theme that government shouldn't loot the money being made from subsidy removal.

I think it should be made clear that there is no actual savings from subsidy removal, since we were borrowing to 'afford' it.

With subsidy removal, what it means is that if we were borrowing N10trln as a nation, maybe we can then reduce borrowing to N2trlnbwjicj helps out deficit levels. The idea is not to continue borrowing N10trln even after subsidy is removed.

Asides buying the dual carburator kit, here in the US there are generators that are dual fuel. I. E they use either petrol or gas.

I'm sure very soon our Igbo brothers will start bringing them from China. I'm even surprised that it had not been in our market since, but I guess since petrol has been dirt cheap for decades, there was no incentive for it.

wonder233:
Ozuo, tigernut drink had nothing to do with your dick being hard. This is why politicians are using your heads in this country. You guys are so dumb, same way you're all holding fast to tribal and religious stereotypes while the politicians smile to the bank. Keep being foolish.

I tire o. Tiger nut drink being am aphrodisiac it's just beer parlour gist.

Cowbell521:
The way some Nigerians dey take reason sef. So na today rain just dey fall abi?

He actually has a point. During the peak of the rainy season, the temperatures fall and people use much less electricity. If you don't know, for most middle and upper middle class houses air conditioner consumes bout 30 to 40% of electricity. So when that demand goes away because the weather is cool, it means there is more electricity to go around.

Also electricity conducts better in cool weather. So asides from the demand reducing, the stability of the grid also improves because electricity conducts better, so it's a double beneficial impact.

money121:
https://thenationonlineng.net/what-to-know-about-acting-cbn-gov-shonubi/

Bankers don't make good CBN governors though! What we need are well trained Economists!!

Sanusi did well even though he was banker, primarily because he was also an economist. As well as Soludo.

MetalJigsaw:
You are an idiot for saying this rubbish.

Are you not in this country??

He's tight though. Just to any federal secretariat d see how people who are supposed to be working are just hanging around corridors doing nothing except wait for Nigerians to come in so they can approach them to "help" them.

Freksy:
This thing is a scam - well organised.

Each time they want to hike the price of fuel, as a means of extorting money from the poor masses to run the corrupt system, they deceive us with this subsidy thing.

Nigeria is broke! Totally broke! They need money by all means. In the coming months or years they will use the same formula to extort money from the poor citizens. They will say it was partially removed.

You can't truly deregulate and still continue to fix the price of PMS - that's regulation.

I assume they are fixing price of their own product. Dangote will also announce his own ex depot price when his refinery starts operation. And any other importer can fix own price

ManirBK:
https://dailytrust.com/tinubus-wife-steps-into-first-ladys-office/?utm_medium=Social&utm_source=Facebook&fbclid

There is no office if the first lady

princeade86:
tell me the day nlc ever mentioned or fight for private sectors workers.

Nlc is made up of multiple lower level trade sector unions, many of which are private sector dominated like oil and gas, telecoms, electricity, etc

skj1377:
Your kind of thinking is what got us to this mess. The crude belongs to Nigeria as such Nigerians don't have to buy it at international price. The actual cost of extracting crude can't be more than $8 while the cost of refining the crude and profit per liter is $0.023 . In other words a litre of fuel in Nigeria should be N20. The reason cost of petrol is this expensive is because of the exchange rate N460 . At an exchange rate of N127 petrol will be much cheaper. The question is why is our exchange rate so poor and the answer is because we use 70% to import fuel in dollars there by leading to a scarcity of the remaining dollars to meet other importer requirements @N460. This lead to a harmonious price of N745 as a balance between the demand and supply . So N550 is still not a final price of petrol as NNPC is the sole importer because the marketers will have to source the dollar at @N745 which unfortunately is the price dollar is available . At such an exchange rate petrol will be N1100 per liter. Don't forget with each request to import at N745 the Naira keeps loosing value something like this N745, N780, N850, N950, N1000............etc the reason for that is also because Nigeria is import dependent and NNPC is the largest foreign exchange earner. The solution to all this is to fabricate local refinaries and produce the petrol locally while exporting extra refined products to earn additional foreign exchange. If we do this the Naira will appreciate to say N80 to $ . Local fabrication means 90% of the maintenance cost will be in Naira so no need to look for dollar for that.

Cost of finding, developing and producing crude oil in Nigeria is about $30 to $40

nairalanda1:
1.Qatar produces 1.8 million barrels of crude a day and shares it among 1.2 million people.

2. UAE produces 2.2 million barrels of crude a day and shares it among 15 million people.

3.Saudi produces 10 million barrels of crude a day and shares it among 40 million people.

4.Nigeria...produces 1.8million barrels of crude a day and shares it (the revenue from the oil) among 220 MILLION people.

We produce the same amount of crude as Qatar and have to share it among .......200 times the population.

That's why we are poor. The per capita oil wealth is too low to make us a rich nation....which is why we got to diversify this economy self.

We haven’t even done 1.8mln in like 4 years now, since Covid.

princeade86:
people are just shouting they should increase salary as if people working under government are up to 40% compare to people working under private sectors. If they increase salaries of government workers, what will be d faith of people working for private sectors that don't have anybody to fight for them for minimum wages. I think government should also have an organization that will be monitoring these private company. Some of them are wicked and heartless to pay peanut salaries to their staff, and still over used them. Some of them will even owe them salaries and if u report to police, they may turn the case on u if they bribe the police. Nigeria needs total reform on private sectors also.

Did they tell you NLC is labour union of government workers alone?

talk2hb1:
Are They Serious, if they piped every house in Nigeria and supply us with free gas, we will still have enough gas to export. Yet they are acting as if they are doing us favor.

All these Nigerians that think governments exist to give you free stuff!

obyno82:
Once again you are not smart. Dangote actually dictates the price of cement because by his monopoly he is the market driver of cement. That is the point, Lafarge and BUA are content with the margins they make and as such will not want to enter a price war that they will certainly lose in. Try and be smart bro

Dangote has market leadership in cement, but NOT A MONOPOLY! Same as Mtn in telecoms has market leadership, Transcorp Hilton has in hotels in Abuja, etc. Every market leader dictates price movements to some extent everywhere in the world. It's normal.