₦airaland Forum

slimthugchimee2:
If you think inflation is high try and kill of oil prices

Price of petrol will go down but there will be less dollars in the economy sparking another surge in dollar vs naira which in turn worsens inflation

SalamRushdie:
In Nigeria both high oil price and low oil price trigger inflation, it's the only place in the world where you that , infact high oil price trigger more inflation here strangely...high oil price is only a blessing for thieving politicians

Acidosis:
What can be worse than taking FX from N400 to N1700? Nigerians have seen the worst already.

budaatum:
You'll find out when oil price is low.

NewDigitalWorld:
Source: https://www.bbc.com/news/articles/c17ewl98kgvo

NewDigitalWorld:
Source: https://www.bbc.com/news/articles/c17ewl98kgvo

slimthugchimee2:
High oil prices trigger inflation for petroleum
Which ever way, politicians will steal

You are the ones that will suffer it, stop wishing more suffering on yourself so you will shame politicians that don't even know you exist.

This is like saying "I wish my house will burn down so I can shame my LG chairman"

Mynd44:
The cost of drilling and maintaining oil wells is a major problem. If the price of crude oil falls, American oil companies will have less reason to produce locally as there won't be any profit for them. The prices of oil needs to be high for America to increase its oil outputs.

Angelfrost:
Slash oil prices!!!

That would be the final nail in the coffins of certain corrupt 3rd world nations.

budaatum:
Yeah? Nigeria should lower crude oil price and earn less dollars to pay off our debt, because, America first! America first!

SalamRushdie:
High oil prices trigger high Petro price and anything that triggers higher Petro prices trigger general inflation...Nigeria is so badly run that the price of oil changes nothing actually, inflation will keep climbing but someone with low IQ like you can never understand

tnerro1:
Not if America decides to stop buying from outside sources and only buy oil drilled in America .

budaatum:
You'll find out when oil price is low.

zero8zero:
Your low IQ is even worse than that. You illiterates think the value of naira was N465?. The more you're reminded than over $10billion was used for defending the naira to sustain it, the more you keep fooling yourself with artificial naira value, illiterates.

Acidosis:
Yeah, the good thing is that, instead of the government continuing to pay the subsidy, the payment of the subsidy has been transferred to you, the dull, non-thinking Nigerian.

Someone is still paying that subsidy (i.e., high cost of petrol, electricity, FX, and increased bank charges, call, and data tariffs); it’s just no longer the government. Instead, it’s the slow "patriot" like you, who believes you’re contributing to a non-existent "better future" by taking the liability off a government that takes loans in billions to fund private jets, yachts, and VP house renovations.

Someone is extremely dull in this equation, and it's definitely not the government.

Chibuzoripob:
if they eventually slash it,our dear KYARI?DANGER(DANGOTE) and others THIEVES will knack us story

Acidosis:
Yeah, the good thing is that, instead of the government continuing to pay the subsidy, the payment of the subsidy has been transferred to you, the dull, non-thinking Nigerian.

Someone is still paying that subsidy (i.e., high cost of petrol, electricity, FX, and increased bank charges, call, and data tariffs); it’s just no longer the government. Instead, it’s the slow "patriot" like you, who believes you’re contributing to a non-existent "better future" by taking the liability off a government that takes loans in billions to fund private jets, yachts, and VP house renovations.

Someone is extremely dull in this equation, and it's definitely not the government.

zero8zero:
And that's how it's supposed to be, pay for what you consume, as it is being done in countries that work. It is illiterates like you that are spreading fake news because 99% are gullibles. The jets purchased is not a private jet, it is FG property, Tinubu will not take it to his house when he leaves office, there was a security reports that he needed a new jet when the old ones are already malfunctioning. For the yatch, have you seen Tinubu in any yatch?. And the VP residence, are you aware that the same residence had been under construction since OBJ regime?, with billions allocated every budget for it yet it remained uncompleted but people siphoning the money. So, what bad if the new President complete it once & for all?. Will anyone put it in the budget again to siphon money?. You're an illiterate, keep wailing.

Angelfrost:
Slash oil prices!!!

That would be the final nail in the coffins of certain corrupt 3rd world nations.

Acidosis:
Defender of governments of countries that work una

You want poor Nigerians to pay for what they consume at inflation rate of over 33%, but your president is still taking loans to fund the most basic things??

jaxxy:
Bad for Nigeria that's depending 100% on oil to fund outrageous budget.

budaatum:
Yeah? Nigeria should lower crude oil price and earn less dollars to pay off our debt, because, America first! America first!

"You gotta bring down the oil price, that will end that war. You could end that war," he added

zero8zero:
Defender of poor Nigerians, oya tell us 5 top countries that inflation is not going up?.

Defender of poor Nigerians, oya tell us if poor people in any advanced country are not paying for what they consume?

Defender of poor Nigerians, oya tell us another best way that Government can finance a budget deficits apart from borrowing?

Acidosis:
I can give you 30 countries, but manage these 7:

1. United States
2. Canada
3. Germany
4. Argentina
5. South Africa
6. Indonesia
7. China



These are unreasonable and thoughtless questions. Paying for what you consume is the reason the average worker earning ₦70,000 (yet to be implemented minimum wage) cannot afford a bag of rice priced at over ₦85,000.

I dare you to name just one country where a 50kg bag of rice costs more than the monthly minimum wage of workers.

Let me help you:

Nigeria: Rice (₦85,000 – ₦150,000) Minimum wage (₦30,000)
United States: Rice ($229.50) Minimum wage ($1,160)
Switzerland: Rice ($196.50) Minimum wage ($4,774)