I personally don't have a problem with the price of electricity, though I can understand that the experience of those in Band A is probably different.

I have always used electricity judiciously, so any pre paid electricity I buy tends to last for a reasonable length of time.

I have always been fastidious about switching off all gadgets FROM THE WALL.

First thing I do when I get out of bed is to pull my curtains so I take advantage of natural light. So, most if not all internal lights are off for most parts of the day unless I absolutely need it.

If I am leaving a room and not returning to that room within 5 mins, I switch off the light. Lights in any room that is not occupied is always switched off.

These are just habits that have become part of my routine. I don't do them because of electricity bill, but it has a very positive effect on my electricity bill. I have not bought electricity for about 3 months now, so cost of electricity is really not an issue for me.

Many Nigerians use electricity wastefully because we have one of the cheapest electricity prices in the world. But that is going to change with the introduction of new bands.

commoditiesnig:

Very true. Law of Demand and Supply

Not 100% correct actually.

The law of demand and supply works perfectly with certain products, but not with others.

It may work well for certain consumer products like tomatoes, water, garri etc

But it doesn't work perfectly for a product like petrol where the manufacturer/producer/seller has a production cost that it can't really influence that much because the price of the input material is determined internationally.

So there is a certain level below which a refinery cannot sell .... at least not for long.

Glaxo, Cadbury etc can operate at a loss in Nigeria for 3, 4, 5 years or even longer before closing down. That's because their operations and therefore losses are relatively small compared to a loss-making refinery.

A loss making large refinery will shut down rather than permanently sell at a loss making cheaper price due to over supply. Or they find markets in other countries.

So the coming on board of Port Harcourt and Warri refinery and other refineries currently being built will not reduce price by more than N5 to N10 or thereabout per litre.

Salewa97:
Good.

The price of petrol is gradually dropping. By the time the private refinery starts selling, the price would have dropped more

2023 AD - by the time Dangote refinery starts...

2024 AD - by the time other refineries start...

None of the 'by the time' will reduce price below cost of production. So expecting cheap petrol if more refineries are working is fanciful.

Refineries will rather close down than permanently sell at a loss-making price.

Outside of subsidy, the only other factors that can bring down the price of petrol is if the price of crude falls significantly on the international market or naira appreciates significantly against the dollar .

There is this other guy on social media who has been jumping from Arise TV to Channels, and back to Arise TV since the protests making false, outlandish, libelous statements.

A couple of days can't go by without him appearing on a TV programme to talk recklessly.

I heard he recently acquired a law degree or finished law school. I don't know which one.

The man is a disgrace to the Nigerian legal education system because he doesn't understand legal boundaries at all. He feels entitled to say whatever he likes.

If he is invited for questioning or arrested now, he will claim his arrest is an attempt to silence him.

Smh

Any of them that causes breach of the peace should be promptly arrested, and prosecuted if there is enough evidence.

If they want to protest the arrest of an individual, no problem.

But they must do it peacefully and outside the perimeters of the airport.

The Nigerian constitution did not give a special status to persons who claim to be human rights advocates.

They are subject to the law of the land like every one else.

favor914:
He is guilty as presumed.

Well, I won't go that far.

He is innocent until found guilty.

Incitement is a crime.

If he is investigated, charged, and convicted, no problem.

Claiming you're a human rights advocate doesn't put you above the law nor is it a licence to talk any how.

Minjim:
To think just last month NNPCL was selling at #580. As soon as they heard Dangote is ready to roll out they increased to #890.
By the way, what happened to the PH Refinery?

Have we all forgotten about that ?

Even that one will not sell cheaper than Dangote.

Minjim:


How are they able to get it out of the country in trucks? The FG and NC are complicit. Petrol are smuggled in large trucks and they move freely across the border.

The question is, who are the FG and Nigerian Customs.

Are they not Nigerians from this same society where corruption is rampant?

Why do you think Nigerian Customs will be any different.

And if it was that easy to find many honest Nigerians, every government since independence would have solved the issue of corruption.

But they haven't and they can't.

Society has a big corruption problem. Until the people decide to change their ways, corruption will continue to ruin things.

Gustavo356:
Buy in Naira and Sell in Naira will be a significant change.
I only wish the price will drop back to N180/litre

That's not possible.

If the government announces N180 price per litre, by the next day, Naira will fall to at least N1800 to a dollar, N2200 within a week, and by mid October, we would be lucky if it is not above N2,500 to one dollar.

Then a worse economic pain will start.

Nigerians will be begging the government to please stop subsidy and return the price of petrol to N800 or above.

Even if the government increase the price then, the damage to Nigeria's credibility will be done and the naira may not return to the N1,600 it is today.

Nigerians assumes the government can just do anything it likes. It mostly can't.

The value of the Nigeria is not 100% determined by what is happening within Nigeria but also the sentiments of international financiers and trade partners concerning the naira.

daragrams:
Dangote is selling at N766

Ok, so my estimate of a pump price of around N800 - N850 may not be far fetched

Minjim:
You're about to lift petrol and bring it to the market and no announcement of any official price.
Why all this secrecy? I'm these people are planning something not in the interest of Nigerians

I don't understand the secrecy too.

However, I think we will know the price within the next 2 days as the petrol starts being sold at filling stations.

I suspect NNPC will make no formal announcement of price now because they probably believe doing so will dominate the news and create unnecessary drama for NNPCL.

Bro, whatever price you buy on Tues or Wednesday at any NNPCL filling station is the new price.

I suspect the price will be close to the current price at NNPCL filling stations.

At least N800 - N850.

Otherwise, why would NNPCL suddenly jack up its price 2 - 3 weeks ago. They were prepping us for this new reality.

joseph1832:
Read what exactly?

Celebrating the use of CNG when it hasn't even gotten to everywhere in Nigeria, when in fact, there are many rural areas that don't have filling station, talkless of having CNG conversion centres?

So government should never introduce any new policy unless they can start it in every corner, village, town, and city in Nigeria on the same day

Chai.

It has become a habit for some people to bring politics into everything.

Government does anything good, they start spreading false news that it is propaganda.

Same thing they did with federal government's students loan scheme. Even when students started confirming their school fees have been paid and N20,000 was dropping in their personal account every month, some people insisted it was all propaganda and not true.

No wonder some politicians don't even bother to do any good.

The government is on track.

The stars are beginning to align for Nigeria.

One step at a time.

I personally want the government to get rid of subsidy 100%.

However, I was not elected into any office so it is understandable that the President may well feel removing subsidy completely and allowing the price of petrol to reach over N1000 is not sustainable when people are hungry.

Fair enough. But any subsidy should be reduced significantly.

As for NNPCL being the sole buyer, I hope no problem with that.

I fear the price - manipulating prowess of the so-called independent marketers more that I fear NNPCL.

I didn't know there were still boarding public schools in Lagos.

These marketers are just playing Nigerians.

Was is not these same people that said a few days ago they will not buy from Dangote, but will instead buy from importers

2 days later, they're telling us they're are already sending their trucks to Dangote refinery expecting loading to Start from Sunday.

So you sent your trucks to buy from Dangote even though the refinery has not announced its price?

From top to bottom, most of the people operating in the oil sector are crooks and manipulators.

Importers o, NNPCL o, they should all buy from the cheapest source.

Nigerias are not willing to pay a higher price from a local producer just for the sake of it.

This is business.

If imported petrol is cheaper, let's continue to import.

Mr Dangote can always sell to other countries.

Morning, afternoon, night, it is all Dangote this, Dangote that. Price, he won't confirm. Petrol, we no see.

Please let the man be.

gasparpisciotta:
I suspect Wike on this one

Mr Wike is probably not involved directly, but those loyal to him in the PDP leadership hierachy saw an opportunity to take Mr Melaye out, and took it.

He walked into their trap.

They will deal with him.

Nigerian media eh.

So Premium Times rushed out last month to report what it has now confirmed to be untrue.

Instead of admitting and apologising for its error, it is now claiming it just found out the correct position of things.

So why did you rush to report what you did not understand or ascertain.

Very unprofessional.

It is inevitable that a huge road project will have some environmental impact, if by environmental impact you mean trees will be felled, rats, snakes and other small animals living in the project areas will be affected.

Even a village road will have some environmental impact.

So we should not build a road or develop infrastructure because of these reasons.

Na Europe we dey? 50 or more years ago, were Europeans doing environmental impact assessment? Sebi dem don bellyfull na im make them dey divert road construction because a few birds dey on top one tree.

Do Indians, the Chinese or other Asian countries stop or divert projects because of environmental impact assessments on rats, birds and snakes?

And when did you, Op, start caring about rats and birds?

Of course you don't. You are just against the project but hiding behind environmental impact assessment

Yaaay!

Mr Tinubu, listen, remove petrol subsidy patapata. Now!

Finally, many Nigerians are beginning to realise petrol subsidy is fake comfort.

You are poor. You keep borrowing money to live a fake life. Well, that fake life will catch up with you eventually.

That is the situation Nigeria is right now.

Borrowing money to pay subsidy is dumb, dumb, dumb.

gare2510:
What are the things we started producing locally that made us stop importation? You increase custom duty, devalue Naira making cost of importation prohibitive

There is a clever re-engineering of the economy going on.

The government is trying to reform the economy to produce more of what we need so that we impirt less.

Devaluing the naira made it far more expensive to buy imported goods and slowly but surely we are now making deliberate decisions about things we buy when we go into supermarkets.

For most people, the days of just putting things in your basket without checking prices are long gone.

I used to casually just put a few Snickers into my basket until a few months ago when I realised that it cost about N1300 instead of the previous N600.

I haven't bought Snickers since then.

I imagine millions of people across the country are making similar decisions about various other expensive (usually imported) goods.

All that will result in fewer sales of those products and that in turn will result in fewer of them being imported.

That is why Nigeria's imports are going down.

People who think Mr Tinubu is dumb are just naive. He is one of the most brilliant Presidents Nigeria has had for very long time.

supereagle:

Why is it not reflecting in our economy?

It takes time because Nigeria is a huge country.

It is like building the foundation of a house. This often takes far more time, effort, and planning than building most of the rest of the building.

And often, people don't appreciate all of that work until later when the blocks are being set and the rest of the building is being constructed.

The Nigerian economy is in the foundation phase. Mr Tinubu is taking tough unpopular decisions that should have been take by previous leaders.

The results of Mr Tinubu's leadership are coming through slowly.

We just need to be a little patient.

And I know that is not easy because too many people are suffering. But we will get there.

All University students who want the government to pay their school fees are getting their school fees paid.

On top of that, each student that apply for the scheme receives N20,000 per month including during holidays, free of charge. And the money is never delayed.

No President in the history of Nigeria has thought of or executed such a policy.

Do naysayers acknowledgeand or welcome this wonderful development? Absolutely not. They're condemn Mr Tinubu every second of every minute of every day. They are only interested in whether subsidy remains or not.

Even if this President doesn't come back for 2nd term, with this student financing scheme, he has written his name in gold in the history of Nigeria.

Never again will a student from a poor family be denied the right to go to university because his parents can't afford school fees.

Another feather in the wings of Mr Tinubu:

Under Mr Buhari, Nigeria was producing about 1 milion barrels of crude oil.

Today, Nigeria is producing 1.7 million barrels, and that figure will keep rising.

That is effective leadership.

But those who only want to condemn don't want to hear all that good news.

Tough decisions for challenging times.

The President should remain on course and not allow himself to be distracted. Remove subsidy patapata and put the saved money into repaying some of our debts and invest the rest in education, health and agriculture.

Non oil exports are booming. Economy is rumbling like a volcano that is about to explode. Those in the know are investing in businesses now because they know this economy will become unstoppable after this challenging period.

All the hard decisions that previous Presidents from Chief Obasanjo failed to take because they didn't want to be unpopular, this President is taking them. A very courageous man.

Those who want to continue to be spoon fed by government through all sorts of subsidies need to realise Nigeria simply can't afford never-ending subsidies.

Mr Tinubu is doing well though he can do even better if detractors will let him be.

ewedunamala:
Subsidy is good. It's in every country. The issue is the high level corruption in Nigeria subsidy

False.

Please other than Arab, basket case Venezuela and a few other similar countries, which other countries subsidise petrol in the world?

What the writer wrote is correct.

You subsidise if you can afford it. But borrowing huge sums and getting yourself into multi generational debt to subsidise petrol is something only a backward African country like Nigeria will insist on doing.

Even in poor Niger Republic, Ghana, and other neighbouring countries petrol is sold around N1300 even though both Niger Republic and Ghana also produce crude oil.

So why should Nigerians insist on buying it for N400. Some even want it to be sold cheaper than that

Nigerians need to understand that there is no constitutional right to cheap petrol.

Fuel subsidy should be removed patapata. Mr Jonathan should have done it but he panicked at the sight of protesters at Ojota. Mr Tinubu should remove it 100%.

Those who want to protest should be allowed to do so to their hearts content.

Subsidy is nothing but an albatross strangulation the economic future of this country.

As things stand now:

Mr Obi and Abia Governor's faction will have to go to court.

And a positive outcome is not certain for them.

APC's national Chairman must be laughing his head off at the mess Labour party has got itself into.

Most people will not call this a massive crowd.

Look at the gaps to the front and rear of the photograph.

Same with APC campaign posters on nairaland. They label every crowd as massive, even if most don't have more than 500 people.

Do PDP and APC really believe readers are deceived when they can clearly see the truth.