₦airaland Forum

Reduced price has been abused by this so called outlet. What is even 10 naira reduction

Don27tiky:
until it’s down to at least 500 . Nothing has changed.

Even 600 will be manageable. However, this drop - today - increase - tomorrow they are doing is not deceiving anyone.

fmlala:
Good news as the competetion is now driving the price down

What is good about the news. They keep reducing and adding price for more than a year now. Even the reduction has never made sense. Hovering around eight hundred and something to 1000 every now and then.

Anything more than N200 per litre is nonsense to me.

Wait till next year when the new tax bill takes effect. 5% oil vat loading

Balablue can't even fulfill campaign promises.

We love to believe a lie. Even devil go shock at our unity and cohesiveness towards sustaining lies despite being its father.


The truth will prevail one day. But 870 is still far from 200. Lol

We should be thankful to a government that took fuel from N185 to N1100 and now back to N875

Can only be ( APC) All Pains Continue

Iranu

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Are you tayad of the #5 #10 change forth n back .. 2yrs n yu don taya 🤭

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

What a stupid question, it takes a massive degree of self delusion for anyone to think this regime or anyone after this will return fuel to where it was.

Subsidy is gone , no matter who the next president is.

Reduce pump price indeed. Try buying fuel in a transparent calibrated container. I had a terrible experience last week.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Thanks for the highlightis, that should be the focrum of our discussions as we move forward toward 2027.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Dead that idea. Until dollar comes down to 300 naira you are on a long thing. It is not realistic to thing the price will go back to Pre May 29, 2023.

In Tupac voice, I see no changes

adioolayi:
Good to see queues are now things of the past..

Good to see that customers are now kings and queens at petrol stations...and not at the mercies of fuel attendants and station managers..

God is wonderful

Although, still very high...let the competition go on

About the queues, you would have to understand that the era of the Cabals was- to come up, step up, then, they had to get validation and on the news sell us the crap that subsidy was real.
We took it hook, line and sinker.....
The prices have never showed significance with this so called market forces....another ploy.
Same ni and we that soji are not shit faced....

ZeemsPropeties:
No government can get it back to pre-2023 prices. That era is gone forever. That price was artificial to begin with, we only had that because of subsidy. Let's accept this new price and stop yearning for a price that would never come back (unless subsidy is returned)

ok zeems I totally understand u.. so let's return to subsidy era cos the aim has been defeated already cos am not enjoying the post subsidy era or the benefit of the money realised from it. Nigerians have not seen anything concrete the money was used for to warrant us been happy about the subsidy removal and from what we hear we are still very much in the importation of fuel, borrowings have tripled and the value of the naira has fallen deeply accompanying with sky rocket prices of consumer goods.

I dont know about you but I think I enjoyed and benefited more as an individual when there was subsidy and I am speaking the mind if most Nigerians, most families cant feed, children are been withdrawn from schools, societal ills or vices have skyrocketed with deepening in poverty level, c,mon let's face the facts things are worst now than before but life is about progression but all I can see is retrogression.

I rest my case.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

It seems you have no knowledge of subsidy removal or full deregulation. Government is not paying any free money for you again ok.

Okoroawusa:
Getting it to where they met it means fuel subsidy and Nigerians don't want to go that route again.

Who told u Nigerians dont want to go back to that route again ? A route were one could eat a meal in a restaurant satisfactorily with N500 or are you presently enjoying this route were we dont see the benefit of the proceed from the removal of the subsidy.

Please let's not be emotional about all this ..things are presently not the best for the Nigerian populace FACTS..

SIRAO:
It seems you have no knowledge of subsidy removal or full deregulation. Government is not paying any free money for you again ok.

Then lets see the dividend practically of were the money is been channelled into ...its that too much for a citizen to ask. Are we not supposed to be benefiting on the other way round ?

So is al about competition, meaning they can actually sale it even more cheaper and still make enough profit. Why are suffering Nigerians , once the PMS price reduced prices of every other goods will come down.

No be to reduce price then come adjust the pump 🤔


No matter how your try to understand this country bro the country go surprise you.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it
What plans do other contestants have?
We desperately need well structured public debates btw our political aspirants

Why don't you try and educate yoursaelf?

When Buhari assumed office, the government was spending N26 out of every N100 of government revenue on debt servicing. By 2023 whne he was leaving office N97 out of N100 was spent servicing debt.

One of the reasons why government was borrowing so much was to provide Nigerians with very cheap petrol via petrol subsidy.

With the removal of the petrol subsidy and the floating of the Naira, and other reforms, debt servcing now consumes less than N50 out of every N100.

The price of crude oil at the present price of $66/barrel would be about N500/litre. If you want it to go back to less tha N200/litre for petrol, that would be a subsidy of at least N300/litre. It is cheaper to buy petrol than its raw material, crude oil. The country has not included refining cost.

Witha subsidized price demand may hit 60m litres per day. That is about N18bn a day or about 7 trillion a year. It would be much more because refining cost and transportation costs haven't been included. It may cost up to 10 trillion a year. The government budget deficit this year is already 15tr. You now add another 10 trillion. That deficit is now 25 tr.

bewisemasses:
Market forces.
But does this regime have any plans to get this fuel price to where they met it....

Are you serious, this is open market price now. Willing buyer, willing seller.
Fuel price has nothing to do with government anymore

But abegi, official pump price for Nigeria is how much?

adioolayi:
Good to see queues are now things of the past..

Good to see that customers are now kings and queens at petrol stations...and not at the mercies of fuel attendants and station managers..

God is wonderful

Although, still very high...let the competition go on

Well said bro, initially, any slight thing, all of them have shut down, creating artificial scarcity and panic everywhere. It's either they tell us landing cost suddenly went up, increase in exchange rate, government not paying them on time, rising cost of fuel in international market, fuel being diverted to neighbouring countries by saboteurs, war breaking out in an unrelated country bla bla bla.

I'm sure, we would have even experienced serious intermittent scarcity as a result of Russia and Ukraine war if subsidy hadn't been removed!

Let the competition and market forces continue to drive the price, everyone will adjust.

Today you can leave your home with just 10litres of fuel in your car with the believe that you can always drive into the nearest filling station to fill your tank.

This is commendable!

Biofil84:
ok zeems I totally understand u.. so let's return to subsidy era cos the aim has been defeated already cos am not enjoying the post subsidy era or the benefit of the money realised from it. Nigerians have not seen anything concrete the money was used for to warrant us been happy about the subsidy removal and from what we hear we are still very much in the importation of fuel, borrowings have tripled and the value of the naira has fallen deeply accompanying with sky rocket prices of consumer goods.

I dont know about you but I think I enjoyed and benefited more as an individual when there was subsidy and I am speaking the mind if most Nigerians, most families cant feed, children are been withdrawn from schools, societal ills or vices have skyrocketed with deepening in poverty level, c,mon let's face the facts things are worst now than before but life is about progression but all I can see is retrogression.

I rest my case.

Things being "worse now" is relative. Issues like those you listed have always happened. And while it's sad that it happens, fuel subsidy removal is not the direct cause of it. Also, as you have rightly said, life is about progress and not regress. Returning to an old era will erode all forms of progress made, so don't you think we should forge ahead?