CheerfulGiver: Anyone earning 400k and below should add sir when talking to drivers henceforth.
Not to get into the argument but just remember that not all drivers are in Lagos and earnings in Lagos cannot be replicated anywhere outside Lagos.
However, salary in Lagos can be replicated elsewhere.
Also, Where I live, I really don't see how anyone doing regular office job will burn full tank of fuel in a week. My wife uses full tank of fuel in three weeks.
Just an important point I thought needed to be made.
Everyone should take out time to watch this interview. There is no question you possibly have about subsidy and the refineries that was not answered here.
TrebleChamp: I thought Tinubu was suppose to sack Emefiele and order his immediate arrest? So dem be dey wyne us with all that "Emefiele want him to lose election" bullshit....
It was obvious to some of us Buhari was the one calling the shot. Emefiele was a convenient scape goat.
Except for those getting it through form A which is not easy, most of us never got it at the previous rate anyway. If the black market rate can come down to this, it's a small win
Only problem is that the cost of fuel will further increase
buygala: You will realize how much of a pain these small engined vehicles are when they are bearing any significant load, be it people or goods.. Seat four adults in one of those and stock just two bags of rice, and watch its fuel economy fly out of the window, and watch its puny engine almost strangle itself..
Besides what these fuel economical cars save in fuel, they take it away in price of their parts.. You don price 206 and Yaris parts of recent?.. Abi "Anti-Pollution Fault" never show you shege for those Peugeot vehicles ba?
If you won't become a mini petrol-head like some of us who will buy fuel for even 1k per litre instead of dropping our V8s, help yourself and buy a normal 4-cylinder with at least 130hp like the Corollas.. .You will realise life isn't all about fuel economy when you have to haul persons other than yourself and some luggage in those kekes... That fuel wey you dey dodge to buy, you go still buy am, even if you use keke, one way or the other.
Even the Corolla. Put three adults at the back and you instantly notice drag and slower acceleration. Having owned V6 vehicles all my life, it was the very first thing I noticed the day I drove a Corolla with and without passengers.
dapotemi: The app company would not have any choice than to RESPOND to the price increase by INCREASING their fare price..That is the only way out...There is no way ANY DRIVER can cope with this fuel increase if the app guys continue to maintain the current price..To fill up Corolla now will be like 24k... The reason, I think why some of the app has not increased their fare is because perhaps they are only seeing or dealing with scarcity. Now it's confirmed, the cheapest fuel you will get is 488 per litre, and it's only NNPC that will sell at that price.Others will probably be more...BRACE UP! The optics is not looking good.. Moreso, riders will decrease significantly. How many rider can take a ride of 7k to work and 14k to and fro, every day! I know many riders that takes Uber only on Monday and maybe Tuesday and the rest na public transport.Now am not sure they will be able to do that anymore...App needs to step up their game, create a system where you can MERGE two riders going towards same route and they both get a 50% discount...Some of the riders I picked regularly to island in the morning have started calling to arrange for daily pick up, offering 5k...Some of them would look for a friend, a neighbour to join and share the trip fare. We must survive somehow.
Fuel has been increased by 163% and could easily rise to 500 percent.
By how many percentage will the ehailing companies raise their fare to compensate? Given what I know about Bolt, it's not something to put your hopes on.
Larry1960: What kinda of analysis are you doing nah. I didn't have fuel this morning to go pickup my girlfriend, so I decided to book indriver for my girlfriend Omo I indriver don double price normally that 1hr journey that would cost say 3k-4k is now 7-8k
Guys would still make their profit d only thing b say request go decrease definitely cos people go find alternative means like entering public transport or trekking Even I dey hear say oshodi to lekki is now 2k via sienna
Did someone not just say up there that he opened ride and indrive and the prices are still more or less the same with just a slightly increase?
So if the price you paid doubled perhaps becsuse of scarcity and demand. Is that a regular occurence? What will happen when all filing stations start selling. Will indrive still be able to charge double when there's less demand?
Why not just wait for the scarcity to be over? You will know the kind of analysis I'm doing.
CheerfulGiver: Salary earners how far? Even if fuel is 700/l I go buy, and I'll make profit... I warned you to leave those stupid jobs .... Are you still earning 150k a month and waiting for promotion?
Dey play
Did you run the numbers? Let's say you buy 5000 fuel at 184 per litre and gross 25000. You now buy the same quantity of fuel at 19000 and still gross the same 25k. You pay commission of 2500 on indrive or 5000-7500 on bolt. Where is the profit?
Even if you gross 30k on 5k fuel, I'm still not seeing the profit.
Important to also note that fuel can and will go as high as a thousand naira per litre. The higher the price of crude, the higher the price of fuel.
BlueRayDick: I will like them to do an analysis of how the whole pricing thing will play out. They should educate us and put the information out there and not making us do guess work.
They should state true pictures of things unequivocally.
I do agree. The exact details should be made public.
BlueRayDick: The average Price in Lagos now N500 as at this morning .
The issue now is ;even the N500 looks like a regulated price that has the hand of government ( Which is against what Deregulation stands for ) .
What happens to the forces of demand and supply that was meant to determine the price ?
This country na one kain country sha
I don't think so. You know the price of diesel has also come down to 500+. I think the price will now fluctuate will crude oil prices. We should expect to pay as high as 900 naira per litre if crude rises.
ReadaDream: E too fresh, no cap! E go hard me to use this kind car for Ehailing sha.
God knows I've always admired these cars but fear no dey gree me buy them.
I mean, forget about getting the parts in Nigeria. You have to always import. Sometimes they use special tools for something as simple as changing spark plugs. To get good hands to repair it is also a problem.
If I ever make up my mind to buy it, will just buy two. One to harvest for parts and the other to be driven.