₦airaland Forum

NewHe:
Where's the dollar,? Or you thought Nigeria dey manufacture USD?

ncoolsome:
So fuel price should determine who should own a car or not....

santaclaws:
The bolded is so true... The data doesn't account for reduced smuggling. Since subsidy was removed, smuggling also reduced drastically as the profit margins plunged significantly, so 98% is actually exaggerated.

Personally, I think due to the fact that majority of Nigerians no longer use their generators and low-earning private car users have stopped buying fuel, 70% is a safe estimate and that's a lot still....

ofwest47:
Brainless idiots anti Tinubu governmental Administration. In Nigeria you get everything imported from fly covered meat to Televisions BBC radio broadcast news during Muritala Muhammed cow meat importation. All of you anti Tinubu, in Nigeria from the word go do you get any national exported products from the country besides Petroleum products. From the Federal governmental level to all the 36 states and over several thousand local government so called administrations, is it not Petroleum monetary distribution systems for their so called governmental administration spending.

Racoon:
"Cut down their purchasing power and slow down the economy..." Someone made this senseless statement and people cheered on.

Artscollection:
His people cheered him!

VeeVeeMyLuv:
You guys have no idea the extent of economic damage in the name of reforms. People are no longer moving, travelling, economy is slowly grinding to a halt.

Streets, roads, highways are getting more empty.

The petrol consumption has significantly reduced.

Ikaeniyan0:
Nigerians were not the only ones consuming the fuel we were importing before.

I now move freely in Lagos, traffic has really reduced.

Once naira start gaining value, price of petrol will fall. Nigerians who have no business with owing cars are now parking their cars at home

fineboynl:
Why is the dollar not crashing. A lot of things they are not telling Nigerians. They are looting the dollars away from the economy that is the only answer.

Because i don’t understand the fact that import have reduced but dollar keep going higher despite the dollar they are borrowing

tundegan:
The world is watching as Nigeria takes bold steps towards economic recovery. Tinubu is the man for the job and he will get it done.

DeLaRue:
In this case, some factors have not remained constant.

With prices in August and September hovering above N1000 in many areas, smuggling of petrol to neighbouring countries will have reduced.

Improvement in power supply in certain parts of the country has resulted in fewer people fueling their generators at the same level as before.

Finally, fuel price increase has resulted in many car owners cutting down on their car usage.

These 3 factors have contributed to usage levels crashing.

BABAawoo47:
what do you mean Nigerians who has no business owning car? You guys are simply supporting elitism. Only rich people should use cars? what kind of statement is that?

Ikaeniyan0:
Nigerians were not the only ones consuming the fuel we were importing before.

I now move freely in Lagos, traffic has really reduced.

Once naira start gaining value, price of petrol will fall. Nigerians who have no business with owing cars are now parking their cars at home

Biodun556:
This further expose subsidy scam

It means excess amount were quoted to either export to neighboring countries or embezzled through subsidy scam

92% drop is alarming

Biodun556:
This further expose subsidy scam

It means excess amount were quoted to either export to neighboring countries or embezzled through subsidy scam

92% drop is alarming

FreeStuffsNG:
The unpatriotic smugglers of subsidized petrol have been chased out of business

Petrol subsidy is not coming back and this data further confirms that petrol is overrated and it's no inelastic good. O lule pii!

May God bless Nigeria for ever! Check my signature for free stuffs!

maxoemmy:
Quick question. Why was Niger gettin 2i think we both know the answer to this ,the trucks were moved to neighbouring countries.1 trucks?

tete7000:
And it doesn't occur to you that demand and supply have inverse relationship? Beyond smuggling, many are struggling to survive and will trade luxury for essential foods.

Biodun556:
If the 92% drop is as a result of hardship then we should not have any vehicles on our roads by now


92% drop is massive and it is nothing but subsidy scam. The hardship impact can not be up to that

VeeVeeMyLuv:
Kai see thinking!

During Goodluck time it was efficiently flowing and circulating.

But now APC has monopolized it closing the tap. And started laundering the FX out of the country like the person you quoted stated.

VeeVeeMyLuv:
Aswear!

And they are still cheering him on despite this obvious shambolic eyesore of a display.

Atime I wonder if they have a reasoning faculty. The behaviour closely resembles what is seen in zombie apocalypse movies.

NewHe:
And that's why we are suffering today!
Making your country import dependent doesn't make your currency valuable get that to sink deep! Government was subsidizing USD then!

trutharena:
We are gradually getting there.