₦airaland Forum

Eziachi:
Am watching this live on TV with some unease. The amount of people here is a potential stampede to occur. Don't they have a bigger ground in Kaduna?

Premiumnoise:
link pls

Collynzo9:
You think they have been spending the same 2012 - early 2014 amount on subsidy all this while?
The amount spent kept reducing with crude oil price until it got to this point.

Collynzo9:
You were buying subsidized fuel at N65 years ago.
I believe this N87 price is without subsidy.

mikeansy:
Is the pump price in US equivalent to that of naija?

olapluto:
Petrol now sells for 87 naira! Source: Channels TV.
The Minister of Petroleum Resources, Mrs Dieziani Allison-Madueke has announced a drop in the pump price of Premium Motor Spirit, popularly known as petrol from N97 to N87 due to the drop in oil prices globally.

The Minister said the directive is to take effect immediately during a press conference at the Presidential Villa, Abuja.
http://www.channelstv.com/2015/01/18/fg-reduces-pms-pump-price-n10/

Allwility:
How will this move affect the price of garri that the common man eats? What happens to the oil marketers that purchased the products at a higher price? They will definitely alter their meter pumps to balance the sudden change. I see this as a cheap move to whip up election support. Fortunately, we can all see through it!

disloman:
u r a goat.10naira reduction is a trash n a slap to we nigerians

simplemach:
y not if not...?

Caseless:
Nonsense! We'll stil be buying at #140. Who him wan deceive? If him like, make him bring d price down to #5 , i wont vote him.

simplemach:
Serios?

Collynzo9:
Article by Jumoke Balogun

Sunnybobo3:
When he prayed in Christian way according to you, did he say "Jesus Christ is the only true God"?

Billyonaire:
I will respond to you because your writing is reasonable. There is something called Value of Cash. The word depletion should be replaced with expending. Expending has to do with spending NOT depleting. The Excess Crude Account, just like Sovereign Wealth Account are maintained for exigencies, exigencies like black ops budget to fight terrorism, like emergency cases as Ebola. For other unpredictable cases like the fall in price of the Crude Oil, the chief major source of income stream for my beloved country.

So, the right question should be; How was/is the funds in the Excess Crude Account expended. And you can take advantage of the Freedom of Information Act, passed by this transparent government of Jonathan to request for details and I am sure this government will make that information available.

To accuse a government of 'depleting' funds when you are actually ignorant of the expenses is largely an act of daftness, and I know you are not daft. So, go ahead and make use of the FOI.

DopeAngel:
And some Fools will still say he is clueless... Does a clueless person know how to handle financial matters?...#GEJtill2019

Billyonaire:
Excess Crude Account (ECA) is different from External Reserve Account (ERA).

The purpose of the Excess Crude Account is for deposits of funds in excess of the budgetory benchmark i.e when the price of crude oil is beyond the budget price. And the function of that Excess Crude Account funds is to cushion the effect of inflation and marginal fluctuation difference in the event of lower price of crude. This is the account that Rotimi Amaechi of APC has been fighting the Presidency to share the money to Governors.

Right now, we should be grateful to Ngozi Iweala for the wisdom to retain the funds, because it is the funds that's used to stabilize the naira, ordinarily, Naira is supposed to lose three-quarter (3/4) of its value, from say 160 to a dollar to 400 to a dollar due to the current fall in price of crude oil to 3/4 of its price. But na this Excess Crude funds that we are using to stabilize the naira in the FX market. We also touch this money to take buy military hardwares that were not budgeted for during the 2014 budget etc.


I supposed keep quiet but I have to inform the illiterate APC goons that we know their stock in trade. Their job is to shout out of ignorance.

Advertico:
guy na wow. Obj did nt pay any debt

FastShipping:
Also include the fake INEC form.

PDP/TANoids are bunch of criminals.

In a sane environment, these people would have been charged for forgery.