₦airaland Forum

equity1:
I was taking this serious until I saw Nigeria petrol price at N22.

Is this report as at 2022?

Check well, it is Iran not Nigeria.

Nigeria is showing clearly 173 written in red.

twentyfivekobo:
Many of the countries of West Africa have higher fuel prices and similar or lower minimum wage than we do.

I like the way you are educating people here. I started the thread just for people to have the knowledge. Rather than learning and making a positive comment, they otherwise put out arrogant comments.

It took me over 30mins to prepare the table in Spreadsheet, yet these guy don't really know how to learn.

Thank for you contribution.

What rate is your exchange? Are you saying N1200 will give you ghc27? Send me your contact so I can go and exchange there because N1000 will only give you ghc12.5 at best.

wirinet:
That's still about N600. How come Ghanians have not rioted or at least protest against the government due to the increase in price of petrol. They are not even dissing the government and the country on social media.

When you import things, then you can talk about forex. I am referring to local spending.

wirinet:
The whole comparison is not flawed because everyone buys petrol at the international price and worse still countries like Nigeria buys refined crude from refineries abroad. So prices are expected to be similar save taxes and subsidies.

wirinet:
Those you are importing fuel from won't ask you of your minimum wage or access to finance before selling to you.

still not making sense

Richy986:
When you import things, then you can talk about forex. I am referring to local spending.

The topic is on price of petrol in Nigeria in comparison to other countries. 100% of our petrol is imported, so you cannot avoid talking about forex.

SecretReporter:
still not making sense

Abeg helep me make sense. You import petrol at the landing cost of N600, but you want to buy at 165. Government must subsidise the petrol you use to drive your car with 435/litre. Which 9s now costing close to 7 trillion a year. That's more than half our revenue from petrol.

wirinet:
The whole comparison is not flawed because everyone buys petrol at the international price and worse still countries like Nigeria buys refined crude from refineries abroad. So prices are expected to be similar save taxes and subsidies.

What happened to our refineries.

DeepSight:
What happened to our refineries.

No long term strategy for building and managing refineries. The adopted scheme of importing engineers to build the refineries and then having our people just manage them without technological transfer of knowledge would never have worked. We will perpetually depend on them for maintenance at exorbitant and exploitative costs.

Then the greed of the average Nigerian can never allow community or nationally owned assets to prosper.