₦airaland Forum

Fourwinds:
I disagree.. pounds is to UK.. not individual countries...How much is it in Venezuela., Qatar etc..


in Nigeria.... a pounds is around #450 or there about...

so if we do d calculation....0.20× 450 =#90..

is dat our price now.

Fourwinds:
d question is how did we get to this point.? we were not importing refine products when our refinaries were working...thieves and wicked Nigerians saw loopholes and destroyed our pipelines and refinaries....governments rite from IBB till GEJ never saw any reason to build modern refinaries.. so corruption was let lose in d name of subsidy...


subsidy can be stop...I don't buy ur pessimism...

how.? Dangote has shown interest in putting up a refinary or refinaries.. others may show interest too..

no matter how cheap fuel is., people will still make gain...greed is what is driving Nigerians crazy....everybody wants to make it at once

eleojo23:
It is common sense to patronize made in Nigeria products especially at a time like this.

Fourwinds:
u don't need to tell me all dis..I know what subsidy look like ok... now let's go back to GEJ's regime...when d price of oil was above $100/ barrel oil., d government said it was paying subsidy...don't forget d same time we were favour by d rise in prices of crude oil...so I expect d government to save for d famine ok...dat government was desperate to remove d subsidy because it spent extravagantly through corruption...so we were subsidizing thieves dat EFCC is chasing today...now to d recent... when d price of oil started dropping., we have little or no saving... d effect was unpaid salary in most states of d federation toward d tail end of GEJ government...now in dis present govt.. all marketers are well scrutinized and product seen before government pay..since deir is a drop in crude ., d money for import and other logistics were also affected....infact d price of petrol id around #70... dis govt may be wise for leaving it at #86.50 because of any sharp change

Fourwinds:
u can not deceive me ok.!!! have u heard any marketer(s) complaining about subsidy payment recently as dey use to wail during GEJ regime... or u think d likes of Otedola,, Ifeanyi Uba etc wouldn't have been complaining by now.... open ur eyes bros

Fourwinds:
subsidy had been removed ok.! u go back and read carefully...did u not read how d government gain had steadily increase from January till now

Fourwinds:
when d subsidy was removed., did u notice any change....did fuel price increase.? was it same with GEJ removal. I. need answers

Fourwinds:
nonsense.!!! nonsense.!!! when GEJ subsidy removal took place., was it not #140/ litre now dis government removed it., many people didn't even notice it and yet they are still making gain... keep wailing

lookandlaff:
I do not have in depth knowledge of the Oil industry but I do know a few things about shale and about economics. The only reason why Shale became attractive is because the high price of Oil made it economically viable even at a high extraction cost. At current costs many of these shale deposits become unattractive. I also know enough about shale Oil to know that the yeild on shale deposits reduce dramatically and quickly after the 1st extraction so ultimately shale Oil is unsustainable even at higher prices, Shale is the rage now because explorers are getting good yeilds and they haven't exhausted the more profitable initial yeilds from the wells, the more you frack, the more expensive it is to get more out of the land. Unlike conventional drilling where once you drill that's it, you can count on stable extraction rate for decades, with shale, you may identify a whole area as having shale but only a small portion give you good yield and it is quickly exhausted. Once you exhaust the good sands, there is a dramatic drop in yeild to the next best, so not only do you have to keep fracking and drilling new wells but the more you exploit the basin the less oil you get for your fracking and the more expensive the production cost for the lower yeild. The Saudi's know this and that is why they are prepared to play the long game, unfortunately countries like Venezuela and Nigeria who have wasted the boom years are more desperate are getting impatient.

On the issue of Kuwait and Saudi, the flaw with your thesis if I understand what you are suggesting is this: irrespective of your cost of production, everybody (whether you produce @ $10, $20 or $30) sells their Oil at the market price give or take a few dollars so why would you produce Oil that you sell @ say $35 only to buy the same oil back from Kuwait or Saudi @ $35 and incurr transport costs in the bargain? India has no Oil, so india has no choice but to import. We have crude, we have pipelines to our refineries, why would we import raw crude?

lookandlaff:
It's always nice to read from a bright light in the sea of darkness, people talking stupidly about things they don't understand. I read one post where despite the article expressly saying saying there is currently no subsidy being paid, some leading light of the Nigerian youth actually posted here that "Nigerians are too gullible! Subsidy hasn't been removed from pms. They shd stop the lie! If subsidy is removed the price would be above N100. Think" and someone actually liked his post!!!!

Snipes009:
Your English is bad. Even your Pidgin. Smh. #NowPlaying: G Unit - I Smell P***y (Is that you Eric?)....lol (Keep quoting me, I have the time to embarrass you more). Mothafucka

lookandlaff:
actually the saving would still have been made even if Jonathan was still in government. Buhari did not remove subsidy, Oil prices fell to a level where we don#t have to pay subsidies. I'm very much in pro Buhari and against everything Jonathan stands for but Buhari can't claim credit for what he did not do, just as you can't blame him for the mess he inherited..but .he hasn't removed subsidies, there is just no need to subsidize at current Oil price levels. Wait till he stops importation of fuel then give him credit because the majority of our forex drain is spent on importing fuel.

Caseless:
in the first place, was there subsidy? It was an avenue for the cronnies of the last administration to steal from us because it kept increasing from hundreds of billions to a trillion plus under gej. Why was price of crude going down and what we were paying for subsidies kept increasing under gej ? Some marketers claimed they imported the products, bring it to our shore , document it, take it somewhere , sell it and come back to FG to pay them their subsidy claim. How much is kerosene selling now? No subsidy!

lookandlaff:
when you go to school, call yourself educated, read an article where it expressly inferred that subsidies have not been removed but you still argue otherwise, why are we such educated illiterates? we go to school to learn facts but not to learn how to think.


did you not see this part in the article?

"the over recoveries from both PMS and HHK would be saved by the government and used to fund future subsidies if the need arose."


1. why would you be funding future subsidies if subsidies have been removed?

2. did you see any official announcement from the govt that they have abolished the subsidy regime?

3.) Did you read anywhere that the market has been deregulated?

4) So how can you remove subsidies when price is regulated what happens when the cost rises above the regulated price?

Caseless:
'children of hate aka wailers, what say you?'

Snipes009:
You sha dey embarrass yourself.....#NowPlaying: G Unit - You So Tough

Snipes009:
Water. Stop proving your dumbness to me brother. U suppose don realize say I no get ur time. Na why I just dey smhfu. So, poof!

oteneaaron:
Yes!!!!!! Niggah we made it.............walcott...come and bang my babe for free.......

iukpe:
Therefore, no one should be held responsible or all should be held responsible?
If you politicians do not get it right this time, the youths who have their future uninsured by you all, and their lives at the brink of being wasted will rise up and hold all of you responsible.
Nigeria is annoying. Such waste of time and resources.
Every time we have the same undetermined people playing them selves back into government to continue from where they stopped.

erico2k2:
Well where did you have to cut your Key? I have just one key on mine still, I would like to see where I can cut a blank, I fixed my ECU,had to get one from the US

Snipes009:
I wondered the same about you, hence me smhfu....

Lyondavinci:
er you better than him ? #borrowpose

udatso:
Experts have actually analysed this evaluation issue. They came to conclusion that devaluation won't do us any good. I think cbn should focus on Playing and maintaining policies that would solve this Forex issues

Snipes009:
Smhfu

Okijajuju1:
Hahahahahahaaa..


You want to use sentiments to debate against facts and figures? #GoodluckWithThat.

O!! And South-South States are not Eastern states.

Lagos is in the West and is a Yoruba State. Whatever made lagos great does not stop Lagos from being a Yoruba State with a Metropolitan capital city.

The East has Coal, The West has Gold, Cocoa, Timber and such.
ahahh Timber ke, who told you the west have timber? the only state in the west that comes close to Edo and Delta is Ondo, still SAPELE is on the Map cos of Timber,they even named a kind of timber after the town
The SS states are no longer SE,that was in the past we have moved on.the SS states are Edo,Delta,Bayelsa,Rivers and cross Rivers and we are teh Niger Delta.Take away teh seaport from Lagos wahala don start be that.Look at that kpako airport in PH, we have 3 international flights from Europe daily,Lufthansa,Air france and KLM.They are all fully loaded.The seaport is gradually gaining momentum.



Dont start a fight you cant win.

AyoolaIgwe:
u are deranged my brother. does it run in your family? if so, thank devil.
Nasir Adhama is d name of d purported SA. which state is he from? post a credible link via which ur claim will be ascertained.

Snipes009:
Your comment showed how dumb you are...lol. Na only Nigeria you see wey up their production? Why u no say presidents of the other countries had F9 in Eco? Let me just help your retarded brain out by summarizing it for you: Not all the crude tapped are sold per. Some will go into reserve. U deserved to be laugh at, Mr. Worlexynomics...

lookandlaff:
are you teaching? are you a doctor, are you in the civil service? because this are the areas we have issues, these are the areas no one pays for his own education abroad and goes into.

StOla:
The federal government needs to do something about the terrorism of the Fulani herdsmen.

I recommend a 1week sit at home to call the attention of the government to this decade long menace.

If government refuses to do anything, then it is within the rights of the citizenry to terminate the menace wherever it exist.

And no grazing land will be supplied to any Fulani business man. Let them pay for rent like every other citizen of the country.

Nomadic pastoralism should have ended in the 19th century.