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Nairaland Forum / Nairaland / General / Politics / Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel (9151 Views)
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Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by BeeBeeOoh(m): 6:12am On Jan 13, 2022 |
Oil prices continued their surge yesterday, hitting a two-month high amid projections that lack of production capacity and limited investment in the sector could lift crude between $90 and $100 a barrel this year. https://www.thisdaylive.com/index.php/2022/01/13/nigeria-to-pay-more-for-petrol-subsidy-as-oil-price-hits-85/
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Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by helinues: 6:13am On Jan 13, 2022 |
Speculation news |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by chatinent: 6:15am On Jan 13, 2022 |
Overindependence on oil and no diversification of the economy should inform you that the Nigerian government don't have any plan for the Nigerian future. All they yearn to do is milk the country dry to its dregs...then to its marrow. And during elections, all we see are recycled godfathers reconstesting...those who pull the strings of Nigerian affairs coming out again to finish what they started—loot! What hope is there for the electorates? Nothing! They remain glued to the imaginery forever-never-coming promise of being the leaders of tomorrow. Their longing is a Monday joke! How can a person of today be deceived he shall become a leader of tomorrow while the leaders of yesterday are still clinging to the throne? Old un-useful men? They keep such insincere aspiration in mind until greyheadedness becomes of them watching the same old ruin-ers of Nigeria feast on the remains of the World Most Populous black village. My grandfather may still be wishing to be a youth leader of tomorrow...who knows! A thing of sorrow. The electorates are nothing to write home about. Those at the top succeed every now and then to poison their minds so that disunity will ensure good administrative conveniences and loot made-easy for them....while their Mahatma-Gandhi-partisan e-warriors keep fighting themselves for them! Pawns without subjects! Pawns indeed. Nigeria is such a checkmated chessboard! A monopoly in scrambles. Can a single person break a bunch of broom? No. It takes a group of people to do that. And that is where these politicians plot to destroy so the harvest will be great. One set of recycled old people have been ruling since Nigeria became Nigeria as though others are meant to be ruled. They've twisted the constitution so it keeps their lineage there forever. Not all old people are wise. Nigeria has made me known some young foolish people also grew old. Woe! 15 Likes 2 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by 3gpvids: 6:17am On Jan 13, 2022 |
And we get oil mumu nation 7 Likes 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Dorcmass(m): 6:19am On Jan 13, 2022 |
Country wey dey produce oil by itself
omg radarada 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Nobody: 6:29am On Jan 13, 2022 |
How can we be paying for a natural resource;s that we have in our soil?Does Buhari buys fuel from his salary?The minister of petroleum,governors and senators get this fuel for free and they are making us to cough out our hard-earned money to buy a commodity we produce locally at the international price when they are getting it for free.Election time,they will start making false promises. African rulers are devil's incarnate. 23 Likes 4 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by bcomputer101: 6:40am On Jan 13, 2022 |
Buhari is one of the greatest mistake Nigerians has ever made. But he said, there's nothing like Fuel Subsidy -General Muhammad Buhari 2012 3 Likes 2 Shares
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Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Mko123(m): 7:10am On Jan 13, 2022 |
Tinubu is yet to enter and the situation is going like this 2 Likes 2 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by danielbello(m): 7:11am On Jan 13, 2022 |
Ok |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by clarocuzioo(m): 7:11am On Jan 13, 2022 |
The dullard of a president once said subsidy is a fraud and there's nothing like susidy. Today he has paid.more subsidy than any president in the history of this country and sold fuel at the highest price ever. Buhari na scam. , oil price is rising, the failure of a president will still fail. 12 Likes 3 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by mustbewell: 7:11am On Jan 13, 2022 |
We are ready. |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by handsomeyinka(m): 7:12am On Jan 13, 2022 |
Na to dey drive wheel Barrow and bicycle ,Meanwhile Baba Bourdillon road dey share rice today ooo. Incoming 2023 president (IN HIS DREAMS). Tinubu go dey alright Las las. 4 Likes 1 Share
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Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by adaxme(m): 7:12am On Jan 13, 2022 |
somethings we will never fully understand 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by oluwaseyi0: 7:12am On Jan 13, 2022 |
Should we now pray for oil to be 1dollar for barrel because when price was low this same apc and buhari was wailing and complaining about Jonathan selling oil at higher price 8 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Nobody: 7:12am On Jan 13, 2022 |
Walahi it will not be well for the people who crippled our refinaries.... 6 Likes 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by inoki247: 7:14am On Jan 13, 2022 |
Before dere excuse na bkuz say Oil price low... Now e don rise there excuse iz we av to pay more Subsidy..... which one diz Govt want sef.... 4 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by blazetitov: 7:16am On Jan 13, 2022 |
I hope and pray the Dangote refinery comes on stream this year. That will help the country alot. 1 Like 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by ceaser: 7:16am On Jan 13, 2022 |
This thing is even confusing like Buhari. Crude oil price falls, Nigerians suffer. If ẹ come rise again Nigerians go still suffer. So which one come be good for the country? . Buharinomics is simply destructive to the Nigerian state. 9 Likes 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by danhans(m): 7:18am On Jan 13, 2022 |
They will gain in sale and pay more on subsidy,$85 is a big boom for crude oil export Multiply $85 by 2 m-2.2 million barrel how will this wicked people get per day on sale of crude oil nonsense 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Dozie6mark: 7:19am On Jan 13, 2022 |
Nigeria is doomed 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Dozie6mark: 7:21am On Jan 13, 2022 |
[quote Big scam author=clarocuzioo post=109324772]The dullard of a president once said subsidy is a fraud and there's nothing like susidy. Today he has paid.more subsidy than any president in the history of this country and sold fuel at the highest price ever. Buhari na scam. , oil price is rising, the failure of a president will still fail.[/quote] |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Femijohn198: 7:25am On Jan 13, 2022 |
Our leaders have crippled what belongs to the future of tomorrow. Why can there build rifinaries or repaired the old one not working. Taking our crude resources abroad to refined will costs us more than refining it here in Nigeria. African leaders are thinking from the anus. 2 Likes 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by kayusely70(m): 7:29am On Jan 13, 2022 |
chatinent:You've spoken very well and reasonably too! 1 Like 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Nobody: 7:33am On Jan 13, 2022 |
The reason is simple Higher oil prices means higher cost of production which means in order to keep the price at N162 per liter, we have to pay more and more for subsidy. The same money we pay for subsidy comes from the same crude oil revenue. Keep in mind that as the article said, oil hasn't been above 100 dollars per barrel since 2014 (and our current fiscal breakeven oil price is $133 per barrel). We still have to borrow money to meet up, and we still also have to pay debts....from the same oil money. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty. Sauce Throw in the fact that subsided fuel lead to a lot of stealing , be it making false import and transportation claims, as well as mass smuggling...and we can see the problem Oil subsidy has to go...or we stop taking loans, and tax each and every NIGERIAN , rich or poor, at rates of 40% of annual income to find money for this year's budget. We cannot live in dreamland forever. |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Advocate500: 7:35am On Jan 13, 2022 |
Joker's in leadership, Jonathan failed to save when oil was this and that, their was nothing like subsidies, subsidies payment is a scam. The only reason we are not saving is because oil price have dropped below $50 per barrel, today we are hearing about increase in the oil price, but they are reminding us about subsidies, the government will never accept responsibility for once. Where are the so called opposition parties? 2 Likes 2 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by vickydevoka(m): 7:37am On Jan 13, 2022 |
If price drop we suffer, en rose we suffer. During coronavirus way en drop de refuse to reduce fuel price 1 Like |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Advocate500: 7:39am On Jan 13, 2022 |
oluwaseyi0:exactly my point, the deceit in this government is beyond human comprehension. Their foots soldiers are all over the internet spewing rubbish in justification of every policy they embarked upon. 5 Likes 1 Share |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by gambia(m): 7:41am On Jan 13, 2022 |
This country is a big joke, the more you look, the less you see. They can only deceive the gullible ones. 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Advocate500: 7:41am On Jan 13, 2022 |
blazetitov:oga wether Dangote or otedola refinery ,without accountability nothing will work ,get that fact and have peace of mind. 1 Like 2 Shares |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by Sunnyja: 7:42am On Jan 13, 2022 |
BeeBeeOoh:In 2016, they justified the suffering of the people saying Bubu met low oil prices at $28 per barrel. In 2022, at $80 per barrel the suffering will now be doubled? Wonderful! 2 Likes |
Re: Nigeria To Pay More For Petrol Subsidy As Oil Price Hits $85 Per Barrel by West2019(m): 7:42am On Jan 13, 2022 |
Revolution2022:You said it all God Will punish all our bad leaders a d put their generation to generation into shame 1 Like 1 Share |
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