₦airaland Forum

Lol.....Nigeria about to enter 1 chance.....

Racoon:
Crude oil prices fluctuate in the global market. May be nah to borrow again to fund the budget of criminality.

Cut costs of governance; reduce unnecessary spendings, borrowings with huge debit servicing, merge govt ministries( Oransanye report) and others but they won't listen.

the only thing they can cut is always on the side of the people

Gbadugbakun:
Does this mean that fuel prices would drop?

That's why it's dropping

.
Fresh excuse for non performance loading

Nuff said
.

But doesn't threaten 7b naira cars

Osun To Procure ₦‎7 Billion Vehicles For Adeleke’s 37 Advisers

Zionmdde:
Crude oil price threatening budget again?
Same story since buhari government
With the way this government is squeezing multiple taxes out the people, shouldn't the story be different today?

Subsidy removed
Naira floated
Dangote refinery on stream
Petrol importation cut down rapidly
Yet nothing, absolutely nothing to show for it.
What new is this government bringing to the table?

Make he reduce to 30$ per barrel.

Flame333:
I thought they said if the price rises the price of petrol will rise as well so it's a good thing that the price is dropping so that we can keep on having low fuel price...

Many pple don't understand dis. Now lemi break it down. The budget was planned at 75$ per oil barrel being dat our main revenue is Oil. And almost 70% of d budget is from oil sells. If we didn't depend on oil 4 revenue. It would have been good on d govt side.
But in other hand. The refined products will reduce in price, because refineries now have cheaper crude. Is now left for those refiners to reduce dia price to benefit d common man. Being said. Pms is supposed to be sold for around 700/ltr

Rossychy:
Should we cry that the price of oil reduced? I am not understanding

Many pple don't understand dis. Now lemi break it down. The budget was planned at 75$ per oil barrel being dat our main revenue is Oil. And almost 70% of d budget is from oil sells. If we didn't depend on oil 4 revenue. It would have been good on d govt side.
But in other hand. The refined products will reduce in price, because refineries now have cheaper crude. Is now left for those refiners to reduce dia price to benefit d common man. Being said. Pms is supposed to be sold for around 700/ltr

Flame333:
I thought they said if the price rises the price of petrol will rise as well so it's a good thing that the price is dropping so that we can keep on having low fuel price...

your budgetary provision is dependant on a high/stable crude price. the government will struggle to meet up budget demand if this happens

Gbadugbakun:
Does this mean that fuel prices would drop?

that is exactly why dangote could actually drop fuel price

omoredia:
When it increases u thieves will lock up

It's actually increased from when Jonathan and PDP were chased out by the 200 million mumus who were scammed into thinking that Tinubu's 2011 expired leader looter was the best thing after sliced yam. The messiah of change has revealed himself to be a master of shege that T-Pain is continuing in APC stylee.
The question is why life has become worse in our country despite higher oil prices. maybe smart people like you can help us out with the reasoning

anthonykezy:
Oil slump: Bring down fuel price immediately, Fashola tells FG ON DECEMBER 7, 2014

Lagos—As the global oil prices slid further downward, Governor Babatunde Fashola of Lagos State, yesterday, asked the Federal Government to review downward the pump prices of Premium Motor Spirit, PMS,  from N97 per litre in the country in tandem with the slump in world oil price. President Jonathan and Gov Babatubde Fashola of Lagos

The Organisation of Petroleum Exporting Countries, OPEC, had last Friday, on its website pegged the oil price at $66.27 per barrel. Fashola who blasted FG for its reluctance to adjust the pump price of   PMS, made the remarks while addressing hundreds of youths at the  Lagos State and After School  Graduation Development Centre,  AGDC, IGNITE Employability Project 5, Ikeja. He lamented that Nigerians were not receiving fair treatment from the central government like others in oil producing nation.

Fashola said, “Now we should be enjoying cheap fuel if the price of oil has dropped globally. Even as we import the product, a major component has reduced in price and while this has reduced, the pump price of fuel in the country still remains the same. “Then something is wrong. If the price increases in the country when the price of oil goes up globally, then it should also reduce when the price of oil drops. “I understand that I am not an economist; they (Federal Government) are the economists. But I have some logic and common sense to ask critical questions. For instance, if one buy flour at N10 per kilogram, and the bread was sold at N1 per loaf. If the price of flour drops, the price of the bread should also change,” Fashola added. The governor, therefore, urged President Goodluck Jonathan led administration to follow the footstep of other countries that have reduced the pump price of oil products for their citizens.

Source: http://www.vanguardngr.com/2014/12/oil-slump-bring-fuel-price-immediately-fashola-tells-fg-2/

Otamendi99:
Many pple don't understand dis. Now lemi break it down. The budget was planned at 75$ per oil barrel being dat our main revenue is Oil. And almost 70% of d budget is from oil sells. If we didn't depend on oil 4 revenue. It would have been good on d govt side.
But in other hand. The refined products will reduce in price, because refineries now have cheaper crude. Is now left for those refiners to reduce dia price to benefit d common man. Being said. Pms is supposed to be sold for around 700/ltr

I saw on the news yesterday that the price will come down

Manufactured goods and services

If it benefits Africa, it will be sabotaged

Flame333:
I saw on the news yesterday that the price will come down

Yes. E suppose. Even price dem dy sell am now. Dem dangote n nnpc dey get beta profit.

iwaeda:
https://www.vanguardngr.com/2025/03/oil-price-decline-to-73-5-per-barrel-threatens-budget-2025-revenue-target/

/

Currently at $69.80

Dangote better crank up that refinery. As per Nigeria, what's new? Oil at $50 or $120 means nothing to the common man. There are no positive impacts

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Unigrad:
Crude oil price dropped, na problem. E rise, na problem.
Crude oil price drop should benefit Nigerians but less money for the Government.

Crude oil prices dropping means less forex for Nigeria and borrowing to defend naira with crude back loans

Gboss247:
Crude oil prices dropping means less forex for Nigeria and borrowing to defend naira with crude back loans

Where is the diversification buhari did in his 8 years administration?
I thought by now, we won't be depending on crude oil. From what I read few days ago, The money generated by FIRs from taxes is More than 10 times bigger than what NNPC generate and give the Federation account. Alot of things are secret to Nigerians.

Unigrad:
Where is the diversification buhari did in his 8 years administration?
I thought by now, we won't be depending on crude oil. From what I read few days ago, The money generated by FIRs from taxes is More than 10 times bigger than what NNPC generate and give the Federation account. Alot of things are secret to Nigerians.

Which diversification?
The money generated through taxes are nairas, so generating more nairas means more devaluation and price increment.