₦airaland Forum

Boss13:
The exchange rate should not affect locally produced goods. It will only affect imported goods and services. Hence the urgent need to reduce consumption of imported products.

Name one goods it won't affect. Then I will tell you how it does affect it then you will recognise what shyte we are in

mystic70563:
i'm curretly at the bank and 1 dollar = 197 naira at the exchange board

Obtainable only if you a ;Da ghost

betterABIAstate:
Governor (eng) David Umahi Inspecting The Thickness Of A Concrete Based Road.


Governor of ebonyi doing it by himself.

Stupidity of the highest order.no wonder contractors never finish projects and take us 4 a ride.where is your PPE Mr Governor?

alrahmanonline:
Many People go full prison Ehn! People are so stubborn for that side, they'll see task force standing like this yet they'll still want to try their luck... Really stubborn people needs stubborn policy

Is traffic offence now criminal in Lagos state? Or contra ention. Plz someone clear me

eitsei:
directly or indirectly, don't you know the outcome will affect you? Stop wishing bad things and stop saying negative things it's good for your life

Bross E better to prepare for the worse than prepare for the worse and get disappointed.

989900:
1. That crude prices are falling would not directly translate to refined products prices falling by 45% -- you should know better. Cost of extraction is not solely responsible for cost of end products, there are other costs i.e transportation, refining costs, storage, security, marketing and e.t.c. that didn't/won't go down proportionally. Also, prices need to be kept in range for other ripple economic effects (hope you understand what I mean). BTW, even countries like UAE, Qatar had to increase pump prices for reason I explained earlier.

2. Pump price in Venezuela is less than N4.00 ($0.02) if you are using their official exchange rate, at their black market rate, it is actually less than 0.5 cent (around 50 kobo a litre) -- let's just say it's free over there. And that's no biggie, they gift over 200,000 barrels of crude to Cuba Jamaica, Haiti and 2 other countries everyday!

Their break-even cost without subsidy to supply PMS in 2014 while crude was roughly $100/barrel was roughly $0.42/litre (about N60 in 2014 Naira). Then, even at $100/barrel their 'direct subsidy' payment was roughly $20b; not $50b ($50b is, when you factor all their losses from being st00pid). Of course their refineries are more or less like ours -- they import refined products too! #oilisacurse

At the moment, they pay less than $10b in direct subsidies, and their pump price is still dirt-cheap (without subsidy prolly around N35-N45/litre, with subsidy, let's just say free! ); far from the 0.2 pounds (N90/litre according to you and 'Fourwinds' calculation which actually should have been N56.2/litre . . . it's traded at the official rate, not BM RATE) you based your analogy on. Venezuela is not your typical example for anything oil.

3. If you use the likes of Saudi, Qatar and e.t.c, it's still very cheap; pump price at $0.20/litre (N47-N71/litre). And, note they just purposely increased their pump prices to augment for fall in revenues it was far cheaper before, it could have been less than N25/litre, but they all kinda removed subsidy.

Hope you get the drift . . . it is very possible for landing costs of PMS in Nigeria to be around N60/litre -- they are 'making a killing' already ('prolly' why NNPC does most of the importation now)!
The below is my earlier response (indicating Venezuela's heavy subsidy):

Have you got a link to the cost of thier subsidy bill? ? Circa 2014 to 2016? It's actually up to $50 in what they pay to import refined product and subsidising it.I'm on mobile wen I gt home I shall post the link they are worse than Nigeria.. main while post ur links
http://www.forbes.com/sites/timworstall/2015/01/26/that-venezuelan-economic-experiment-gasoline-isnt-just-cheap-its-free/#4ce69f783c41

vigasimple:
Or the lack of policies or direction of a clueless government.
I have asked the most ardent supporter of Buhari, what are his policies on each sector of the economy? Education, agriculture, health etc

Those supporters cannot give me an answer.

Buhari of 30 years ago is not smarter than Buhari of today. Infact, there is no change. He hasn't update or learn anything new.

Policy from where?
How?
When?
The man cannot formulate proper policy for his own health care.
Watch this space tomorrow they are going to come up with another headline to divert and deceive Nigerians again

repogirl:
Emefiele should have used his church mind to resign since,he really doesn't need this sh'it.

From the Booooharinomics fiasco to a disgraceful sack, he should have left since.

I agree he should have resigned cos I'm sure he knows what is going to happen.

Ecoterrorism:
My prayer is that Emefiele is sacked so that buhari cannot blame anyone when the dollar hit 890#

Almost there pounds is 450 to send from London. To Nigeria

989900:
Really? Whose gov't? Go thru my posts and yours again.

The venuzuellan government subsidise petrol heavily hence that pump price so in theory me and you cannot go and buy petrol and export it at that price we will ha e to pay VAT and the full cost minus up to %70.
Thier subsidy bill is $50 billion a year. So they are going burst.
This is the reason NNPC is not buying from venuzuella.

989900:
Dear Erico, kindly go thru my post again, and familiarize yourself with my post. It is self-explanatory. Your response shows you didn't quite get a good grasp of it.

$0.02 NOT $0.20 (that will be 'times 10') @ N197 thereabout to a dollar is what?

Yes, fuel is N3.98 kobo (Three Naira, Ninety-eight kobo)/litre in Venezuela and,

Kuwait: N44.00 ($0.22)

Turkmenistan: N57.77 ($0.29)

Saudi: N47.76 ($0.24)

Qatar: N71.6 ($0.36) per litre.

I'm sorry to burst your bubble, but we all learn everyday.

I posted a link, why don't you go through, it'd be useful . . .

Like I said earlier, I practically lived/live some of those prices, and it is of course even cheaper for Octane91 and lower (as most of those prices are for 95, 97 Octane). And those prices are after Saudi, Qatar, UAE, and some others, just increased pump prices some few weeks ago, 'cause of their shortfall in oil revenue by removing fuel subsidies. The UAE oil minister practically said "we'r rich people we should be able to afford to pay without subsidy". Venezuela is heavily subsidized though.

http://www.newsofbahrain.com/viewNews.php?ppId=12820&TYPE=Posts&pid=22&MNU=18&SUB=
http://www.arabianbusiness.com/uae-to-cut-remaining-energy-subsidies--619552.html
http://www.pressreader.com/uae/khaleej-times/20160123/281479275428924/TextView

I do not like blowing trumpets and yada, yada, but . . . anyways, go read thru my post again.

I did it's you who failed to understand me.did you add the %70 subsidy by thier govt or you think they will sell to Nigerians at that price?

mn09abk:
66(1)(a) of the constitution. It provides as follows:

No person shall be qualified for election to the Senate or House of Representatives if; subject to the provision of section 28 of this constitution, he has voluntarily acquired the citizenship of a country other than Nigeria.

Over and Out.....Let me not see you and your kids near public office o.

Oga read what I wrote DUAL citizenship. I have not renounced my Nigeria Citizenship. The senator has American citizenship and Nigerian one.If I ha e a German passport then Yeh cos the Germans do not allow dual citizenship.

mn09abk:
As you oversabi the Nigerian Constitution now...Did you know it is a violation for a Senator to have Dual Citizenship?.....Have you mow see where u erred my brother?

Plz show me the citation because I and kids do have dual citizenship. So ova to U.

PAT4HOT:
Am not doubting your intelligence, am only asking if its not proper for Mr. Ben to trace his roots?

And who told yoy he is not knowledgeable to trace his route? ? did he inform U/us that he was lost?

PAT4HOT:
All those commenting above does not observe that Ben's father may not be a Nigerian from the name and what is stated above. Besides, they all look as half caste as confirmed that the mum is from bayelsa which I think Mr. Ben is representing.
The question now is, where is Mr. Ben from?

We as Nigerians are allowed dual citizenship. Obama and loads of Nigerians bear same

Flyoruboy:
Guy, must you turn all your threads into an Anambra-centric one? You didnt have to suck us in with the deceptive headline. A more specific Anambra heading would have sufficed. Nigeria is bigger than your state alone abeg. I know you get paid to do this but try and show some versilitilty for once.

Guy I'm not from Igbo land but to you I will say If E pain you post what your state produces and stop criticizing others that are proud to show what their states are producing simple.

989900:
Pump prices/l

Venezuela: N3.98k ($0.02)

Kuwait: N44.00 ($0.22)

Turkmenistan: N57.77 ($0.29)

Saudi: N47.76 ($0.24)

Qatar: N71.6 ($0.36)

Japan: 191.07 ($0.96)

Singapore: N246.76 ($1.24)

Brazil: N185.07 ($0.93)

India: N183.23 ($0.92)

China: N179.10 ($0.90)

Nigeria: N87.50 ($0.44)

Norway: N322.33 ($1.62)

More at http://www.globalpetrolprices.com/gasoline_prices/

And that list is as true as it gets, it is actually cheaper in some of those countries, because prices quoted for some of them are prices for higher octane PMS (Octane97), Octane 87,90,91,93, . . . are actually cheaper (I've been privileged to visit a few of those countries between December and now . . . the prices are on point).

P.S. Official exchange rate definitely applies; not ab0kifx.com. And if it were still less than N150 to a $, and we refine our crude, pump price would probably be in the N50/litre range (give or take).

Qatar, UAE, and a few middle eastern countries recently (a few weeks ago) increased their pump prices. #fallinrevenue

Meanwhile, remember our back and forth about OPEC'S relevance or lack of, OPEC and Russia just agreed to a 'freeze', not actually a cut -- let's watch how this pans out.

ok we are same page, however aren't you forgetting a very important element to this list? these are not the true value of the pump price, so are you telling me $0.20 is N3.98? did you do that maths or just copied waht someone wrote?
as at N1 to $200 $0.20 is N40, so my friend your Sums do not add up, meanwhile that price is inclusive of up to %70 subsidy don't forget that.

Aufbauh:
Mr man, they are talking about Rivers State not Abia state, or is Rivers State now an eastern state?
Attachment is prohibited in this thread, please be well guided!

No APC in teh Niger Delta end of.

BIAFRANFLAG:
The difference is clear

according to MR. INTEGRITY, BUHARI.

BOKOHARAM are our MISGUIDED BROTHERS.

NIGER DELTAL MILITANTS are terrorists.

Lol. have you seen the huge IRONIC DIFFERENCES?

Dont mind these people, they shud kontinueee

ocelot2006:
CORRECTION: under GEJ's watch, Boko Haram retreated to their last stronghold and were nearly made extinct thanks to the successful combined arms offensive by the military. It is thanks to GEJ that the military, intelligence services,police, and paramilitary agengies can boast if far better weapons, combat platforms, and better tactical training. Overall, captured territories were liberated and IDPs safely returned to their homes were they were able to particupate in last elections. THAT is what GEJ brought to the table.

For one who served in the military, the Daura President has been a total dissapointment. No additional weapons have been bought, the once successful offensive faltered switvhing from offensive to defensive no thanks to the confused state of this administration in moving the so called "command centre", inability to select new theatre commanders, and delay in selecting service chiefs. Boko Haram on the other hand have switched from switched from a defensive posture to the offensive attacking same areas liberated under GEJ's watch. Oh, did i mention the grumblings in both officer corps and rank-and-file cadre of all securoty services thanks to non-payment/delays in the salaries and allowances? excellent moral "booster". All these while Buhari via his propaganda minister Liar Mohammed were busy yapping about "technically winning" the last December. Let's face it, Baba Brainless has NOT brought JACKSHYTE to the table in this war.

The Northerners here will still come and Bash you but I know why, they are probably not living in the war zones.

tete7000:
Sabotage war is not fought with weapons, just like suicide bombings don't engage conventional weapons. It's people like you that ill advised the Buhari. Adie ba l'okun, ara o r'okun,ara o r'adie. Gragra doesn't solve problems, only wisdom does. Get sense, get wisdom!

they wont understand, we saw this in teh creeks during teh American Vietnam war.There has never been a good war or a bad peace however, everyone must come to the table with what they want,we are still waiting for what BH wants.The justification of MEND led to the North forming BH,now they have been shortchanged,when they began to burn churches they thought it was a Muslim xtian thing,now they are done with churches they turn on their own.The financeers of Bh are all up there in the North.the govt of the day is more equipped to deal with them as they share common knowledge and faith.The ND is strictly criminals and vandals plus hungry people who are after money only nothing else nothing more.BH are barbaric in every sense.To put things into prospective when was the last time we saw anyone from the North East on Nairaland castigating BH orno one comes from dem ends eh

Demdem:
dont mind these lots. so if evil boko decides to be sending warnings before attacks, they will become more permissible to the people. the way these people think eh, i just wonder.

the difference is MEND wants true federalism and from last I checked, the region needs empowerment and reflection of whats under the ground.The problem that will be faced with this new campaign is taring everyone with same brush.Im praying seriously for the OIl wells to be dormant like the coals in Enugu Mines then everybody will rest.

fulanimafia:
Kindly quit disrespecting the lives that were lost and people disabled permanently for life with your shameless attempt to justify terrorism.

So bombing innocent Nigerians is permissible if warning is given beforehand? Gosh the way you people reason is nauseating.

Below is a letter from BH also warning people to stay away from polling stations because of planned attacks. I guess by your IPOB reasoning, they're not liable for the victims of their attacks since they were warned. How pathetic.

I repeat, all terrorists, whether northern or southern, are valid targets of the Nigerian Army for taking up arms against innocent Nigerians.

there is no reason for insults, I'm not from the EAST how am I IPOB?, what you are failing to realize is one man terrorist is another mans freedom fighter,if the people from teh ND are gearing support for the MEND are the people in the NE gearing support for BH?

Demdem:
And so what? does it make them not to be criminals anyonger?

I never said that.They are criminals in the eyes of the law.
However they don't go using knives to cut people's neck and show the clips on youtube.They do not have religious or sentimental ideology for killing people,its pure greed and stealing plus sabotage.What they crave for can be addressed by force or dialogue however our guys in teh NE have no bearing,no handle to start from we do not even know what they want.

fulanimafia:
http://mobile.reuters.com/article/idUSTRE6901Y320101001

I knew that was what you was going to post, Plz tel me the last time Bh warned people they should stay clear of cars and town?no one in MEND owned up to the blast.The blast came after and hour of warning from *MEND* why would they warn those they want to kill?

fulanimafia:
You must have forgotten the MEND independence day bombings and several killings, rape and kidnaps in the creeks. You can only deceive yourself.

I must have forgotten you are right plz post me the link again to those pics posted by you.

fulanimafia:
What else has been advocated for the militants of the NE if not to blow them to pieces, the way I'm advocating for the SS militants to be wiped out as well?

There's no breathing space for militants taking up arms against the state, whether in the North, South or East.

but the boys in the creek do not go to market places in warri or PH to blow themselves up and others, plus they have a face and agenda.

fulanimafia:
What criticism? What's the difference between the bloody terrorists in the North and those in the South? They will all continue to be eliminated like the cancers that they all are.

One likes Money ,land,Oil, the Other likes to Kill people for no just reason and love death so much they blow themselves up and others. and are always from one religion.

I have come to realize on this page some people turn to insult and abuse when they have been found out regarding the meanings of the subject matter.SUBSIDY.is there any need for that,someone makes an editorial comment in one of the major news papers in Nigeria and we are here disecting it,some believe some dont, those that do come to the table with arguments without facts or figure why those that dont come to the argument table with facts and figure.I see people here pegging subsidy with the cost of crude Ok! so what's the relationship?It would be healthy to know we don't import crude but I brought that assumption up when i was debating with fourwinds when i said *think out of the Box*Even if the price of crude goes down the cost of PMS and its other subsequent product are not directly proportional to its cost reduction.Ie the FG just increased cost of power ,why .with all these noise of crude going down from $110 to $35 or so, one would like to think the pump price should at least reduce by %45 no way, accross the world false,in the Uk two years ago average PMS was £1.15 now its £0.97-£0.99 so where is the savings proportional to the dropping cost of crude.
So My question to every each and everyone of us who believe SUBSIDY was removed as we speak pleas I challenge you to guess or tell me what countries in the world this so called importers imported their own PMS from that they could afford to sell @ 86.i cited a country where cost of extraction was $8 and Pump prices was £0.20.that's the cheapest in teh whole world @%70 subsidy,Over to they that believe SUBSIDY was removed tell us where you think you can bring in product at landing cost @N75 as claimed by the editor of the newspaper.

Sant1m:
Yes PMB is an illiterate, i just hope you can can see illiteracy written all over your comment. You like it or not PMB has an economic team, he must not call them so because wailers are demanding for it. Go and find out the composition of any Govt economic team, PMB is not going to call anybody coordinating minister of the economy, full stop. There is absolutely nothing wrong with our economy, what we feel now is just a normal WITHDRAWAL SYMPTOM any addict will show if you take the source of the addiction away. Under Gej what we had was a bloated empty shelled economy, where production was not key to income, an economy where the major source of income was graft, rent seeking and patronage, the supply side of the black market under was was from revenue leakages i,e 2.1B dollar arms fund and others. And you call that an economy, managed by an economic team. What PMB is doing now will see us back to a production based economy, where sources of income will be labour, goods or services. Nigeria can be likened to a 300 level student that hitherto takes 1m to school every semester, the father suddenly makes a u turn, blocks access to his safe and he is now giving the boy 100,000. The boy and his friends will have nothing else to do but WAIL.

let us be a bit wiser and show these politicians we are not as stupid as they think, do not ever believe anything they say until they can prove beyond reasonable doubt.I keep hearing arms deal arms deal, so waht equipment has PMB govt bought since he came into power? answer non, so waht armo and equipment are teh NA fighting with? so since Jan 2015 until Jan 2016 we still using the 2,1 B dollars

OJUcrook:
The Ijaws are gradually attratcing resentment for themselves in Delta state.
Tompolo and his Ijaw Militia stole the land on Itsekiri soil; forged a CofO; and sold the land to former President Jonathan's FG led government to be a site where National Maritame University would be located.


Professor Itse Sagay, a Itsekiri man from Delta state is the chairman of the Presidential Anti-Corruption Committie. A report from the committee indicted Tompolo in the land sales scam.

Festus Keyamo, an Urhobo man also from Delra state is the EFCC's prosecuting councel in this case against Tompolo

we know where all the hate came from,

bashribb:
wailing waiver when subsidy is removed during GEJ n PMB wat happened to the price of fuel? m sure u will remember that one rose( doubled) the other decreased. so u c!!!

So all the talk we dey talk since U never still realize say Govt I mean no govt fit remove subsidy for te next 10 to 15 years?