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Nairaland Forum / Nairaland / General / Politics / ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments (56749 Views)
Popular Tinubu Supporter Laments As Unilag School Fees Increases By Over 500% / Advantages Of 620 Per Litre Fuel ! / N620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments (2) (3) (4)
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Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by SIONKPO1(m): 6:37am On Jul 19, 2023 |
wildernessVoice:We go laugh them tire. 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by omoredia: 6:46am On Jul 19, 2023 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Iamzik: 6:50am On Jul 19, 2023 |
Ijaya123: What is constructive about your blind support for a policy that is obviously not working? It was this same blind loyalty for buhari by the north that set Nigeria backwards for 8 years. South West that is supposed to be enlightened is even doing worse with Tinubu The coming days will open all zombie eyes 3 Likes 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Pacyrus(m): 7:14am On Jul 19, 2023 |
taylor89:The itis go hear am hot |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Almunjid(m): 7:25am On Jul 19, 2023 |
zinaunreal:As e dey pain u, e dey sweet us. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Kukutenla: 7:54am On Jul 19, 2023 |
Gajagojo:Are you a machine? Why are you repeating same thing over again 3 Likes 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Milementor: 7:54am On Jul 19, 2023 |
I have always said it and will keep saying it. No matter how high the price goes, i will survive it, I pity people like you that voted APC.. U NEVA START 2 CRY### Useless pipu 3 Likes |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by gabbytabby: 7:56am On Jul 19, 2023 |
We hear we hear and understand that una no get home training neither does your comment demonstrate a measured response or a joined up thinking but that of someone still suffering intoxication from Hero’s or another Nigerian beer. While he dey choke right now the 2 major elephants in the room ( fuel subsidy thieves and currency arbitrage ole) have been taken out. We know PBAT will get the turnaround necessary to put Nigeria on a successful trajectory and will favour me and my family. We shall overcome. The armed robbers and their agents destroying Nigeria’s commonwealth through all the criminal routes are fighting vigorously and we the people need to stand our ground and behind PBAT The most ungrateful people on Mother Earth excluding and are to be ignored. up taylor89: |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by GoodRocks: 8:03am On Jul 19, 2023 |
Beremx: There are comments of monikers I have been waiting for. Seunmsg leodeking Pandoraobi moh247 Obembet Etc You see the above Yolubas and Tinubu supporters, you'll never see them on threads like this. But let it be about obi, boom you'll see them appear immediately to insult and lambast obi. This is Nigeria where their lord and savior is currently the illegitimate president, the man wants to kill Nigerians yet them no send. I'm sure Only obi and his supporters are feeling the heat 3 Likes |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Kukutenla: 8:04am On Jul 19, 2023 |
Gajagojo: Weyrey re oo 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Beremx(f): 8:05am On Jul 19, 2023 |
GO0DHardDick:they are quietly enjoying the renewal of shege banza to Dan bura uba. Suffering and smiling. What do you expect? 😄 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by GoodRocks: 8:05am On Jul 19, 2023 |
successmatters: Call their names bro, they're right here Seunmsg leodeking Pandoraobi moh247 Obembet Etc As long as this isn't about obi, e no concern them Nigeria can burn to ashes 2 Likes |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by GoodRocks: 8:07am On Jul 19, 2023 |
Ikpeyi: Not all of us bro, Tinubu and APC supporters are enjoying. They're buying fuel for #98 naira. If you come with your face cap and you're with your broom, they'll quickly sell it for you for #50 naira. Ask the moniker blow Seunmsg leodeking Pandoraobi moh247 Obembet Etc 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by lolu2019: 8:09am On Jul 19, 2023 |
Always look at the positive side of my life.the last time I checked, good things don't come easily. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Ijaya123: 8:16am On Jul 19, 2023 |
Iamzik: The policy is working just as it should. And if you have a better idea, let’s have it. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by ransomed: 8:18am On Jul 19, 2023 |
You ain't seen nothing yet. More to come from the chief capitalist of Nigeria, the one who reaps where he did not sow, more toll gates will be constructed, pay parking on the streets will commence in all city and major towns, you have to get permission and payheavily before sinking borehole for water, welcome to Emilokan dynasty. 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Kukutenla: 8:25am On Jul 19, 2023 |
Gajagojo:Abeg stop quoting me Abeg please 🙏 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Kukutenla: 8:33am On Jul 19, 2023 |
Gajagojo:I'm sorry sir It was in error please 🙏 🙏 🙏 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Demore1848: 8:53am On Jul 19, 2023 |
This is just less than three months of administration oooo We told them, we warned .......see what they've done to themselves now |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Chudyned26: 9:08am On Jul 19, 2023 |
This new government is making me to see buhari as a good president. Chaii !!!! imagine, an oil producing state selling fuel at 630 per liter to it's citizens. Well since una no wan get sense,since una allow tribalism and religious differences to blind your conscience, this national hardship go reset una brain. We are still in genesis by the time time we reach revelation,una body go hearam.🤣🤣🤣🤣🤣 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Maobichek: 9:14am On Jul 19, 2023 |
grandstar: You did well but the effects on the masses is something else, PBAT should block all lope holes and go after the real culprits. The question is: can he do that? |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Chizzy1000: 9:25am On Jul 19, 2023 |
Idiots.......na lie ooooo. U pple have started crying when the shege hasn't reached 💯% 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Greattha: 9:31am On Jul 19, 2023 |
See wailing. Stop winning. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Vind4favor(m): 9:48am On Jul 19, 2023 |
Pump price: NLC, TUC NASS like "dogs can't bark , bite".- Amachi Anakwe |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by torqque7(m): 10:07am On Jul 19, 2023 |
taylor89: My brother in my Area here in Abuja there is fuel station selling to APC guys for 240per liter. o..just come with evidence that you are from APC or wear any Tinubu paraphernalia and boom you get cheap fuel and cheap food..it is favoriting them and their families o..the blood they are crying is for something else suffered in another country. Useless people plunged us into a mess because we share space with stup.Id illiterates and bigots. 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 10:19am On Jul 19, 2023 |
Treadway: Exchange rate 2.4trn, share proof showing the time frame this accrued Early this year to June 1st, the official exchange rate hovered around $1- 440 while the parallel market rate was 740. Crude oil production was around 1.5 million barrels per day. Price of crude average around $50 per barrel. When multiplied, that is $75m per day. Let us say the governments share is $50m daily. In a month, that will $1.5bn monthly Lets now calculate the how much the government was losing monthly $1.5bn sold at the official rate of N440. 1.5bn x 440 = N660b $1.5b at the parallel rate N750 .1.5bn x 750 = 1.215 Tr So, 1.125,000,000,000 - 660,000,000,000 = 465bn So, government was losing N465b every month. So, from beginning of January to June 1st, which is 5 months, the 3 arms of government would have lost 465b x 5 = 2.325tr. That is just within 5 months. If we extend it to by another 7 months, the figure will be very frightening. Fuel subsidy 7.8trn, share proof also showing the time frame this accrued. At June 2023, the average price of a litre of Nigerian Bonny Light crude oil average $0.47 or 47 cents per day. When 47 cents is multiplied by 440, you get N206.80 per litre. The price then was fixed at 195 per litre if I am correct? That means, it was cheaper to buy petrol than to buy crude oil. There was already a subsidy of N10. Since the end price to consumer was 195/litre, that means NNPC would have sold it to marketers cheaper for them to make a profit. So, let us say the government sold it to them at N175/litre, the subsidy increases to about N30/litre. Please note I used the unrealistic 440 to a dollar rate. Also, I have not included refining cost. I don't know how much it would cost to refine it but let us use 150/litre. So, lets add N30 + N150 = 180. Total subsidy is 180/litre. Daily average daily consumption is minimum of 60m 180 x 60 = N10.8b daily. Multiply by 365 and you have 3.942 trillion a year in subsidies. Please note that I only used the unrealistic exchange rate of 440 to calculate my figures instead of 750 which is about 60% higher. If we used 750 x 47cents, it would be N352/Litre of crude oil. That will mean the 352-195 = 157/litre subsidy before it is even refined. If we add 150 refining cost, that would bring the estimated refining cost to 157 + 150 = 307 litres per day. 307 litre x 60,000,000 daily consumption = 18.42bn subsidy daily. Multiply 18..42bn x 365 = 6.723 tr per year in subsidies Also note my refining cost was an assumption. Also, the daily consumption was the minimum possible as most estimates are higher than that, some even up to 90m My estimate for refining cost was just an estimation 3 Likes 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by greatman247(m): 11:01am On Jul 19, 2023 |
Tntsi: Dem never suffer them just dey start. What pains me past are the poor idiots that have never benefitted a thing from Tinubu, Buhari and Apc still want die for am. They are since been broke and poor since 2015 and till now situation still the same yet they still support them both online and on the street and come to us that are against Apc and Tinubu to beg for money and food. I give them no shi shi... next time dem go get sense. How can you expect a man that have embezzle Lagos wealth to come clean Nigeria over night. Once a thief always a thief. All the funds he saved for Nigeria from the subsidy removal will be siphon by Tinubu and Co.. i can bet my life on that. A thief will never change. |
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