₦airaland Forum

njokuuche77:
Saying "Tinubu doesn't fix prices" ignores how governance works.
He doesn't hold the fuel pump, but his administration's policies completely dictate the price.

Economic Directives: He announced "Subsidy is gone" on Day 1 and floated the Naira, which caused the exchange rate crash that directly pushed landed costs of fuel to these heights.

Dual Role: He chose to remain the substantive Minister of Petroleum, meaning the sector's failures are his direct portfolio.

Constitutional Duty: The primary purpose of any government is the welfare of its citizens. When policy failures make food, transport, and school fees unaffordable, the leader takes responsibility. The number one seat isn't for decoration.

Make una no dey support nonsense abeg

njokuuche77:
Who said anything about controlling global oil prices? Stop shifting the goalposts.

The global crude price is in US Dollars. The Nigerian government does not control global oil, but they completely control the value of the Naira through the Central Bank.

When the global price of crude is $80 or $100 a barrel, a country with a strong currency pays less in local money. But because this government floated the Naira and let it crash past N1,300+/$, they automatically multiplied the cost of that oil for Nigerians.

Even with the Dangote Refinery up and running, crude is benchmarked in Dollars. If your currency is weak, your fuel will be expensive. The government's failure is currency management, not global oil prices.

njokuuche77:
Saying "Tinubu doesn't fix prices" ignores how governance works.
He doesn't hold the fuel pump, but his administration's policies completely dictate the price.

Economic Directives: He announced "Subsidy is gone" on Day 1 and floated the Naira, which caused the exchange rate crash that directly pushed landed costs of fuel to these heights.

Dual Role: He chose to remain the substantive Minister of Petroleum, meaning the sector's failures are his direct portfolio.

Constitutional Duty: The primary purpose of any government is the welfare of its citizens. When policy failures make food, transport, and school fees unaffordable, the leader takes responsibility. The number one seat isn't for decoration.

Make una no dey support nonsense abeg

Niok:
Dont worry majority of Nigerians dont have brains
They will still elect apc come 2027

tfelicityk:
Can this same ADC tell his principals that owned petrol stations and farm tanks across the Nation to sell what they have at rate of just #500 for the five months before the 2027 elections.

In fact, automatically - Nigerians will cast their votes for them.

However, I don't have voter's card

helinues:
Both Fuel and Naira subsidy was removed as we can't continue paying for ghost subsidy.

As for why fuel subsidy removal was mandatory, the question which I asked , till now, I am yet to get any meaning response.

Why did the Beninese protest about the fuel subsidy removal in their country?

As for naira to dollar subsidy removal, there was a reason why Binance was kicked out from Nigeria. Imagine foreigners coming to your country to rack up your dollar and sell elsewhere.

The fluctuation with the price of fuel in Nigeria is due to the senseless war USA always get themselves involved with plus the greediness of the Nigeria oil ( Exchange rate is no longer an excuse as it's now stable) marketers who always have at least oil reserve that can last for 6 months, but will increase the same oil price 2nd day the global price rise as if they have drank the oil reserve

Harnny:
Profer one solution... tell me Nigeria should continue to subsidize. Tinubu suppose don let Zimbabwe happen to the country. No be una fault. The economy need to pick up to the point where there is ample middlemen. Blame Tinubu for education, Infra, Healthcare and Security. But this fuel price, you know whonisnat fault.

njokuuche77:
You are actually contradicting yourself in your own post. First, you claim the exchange rate is "stable and no longer an excuse," but then you say the price is fluctuating because of US wars affecting global crude oil.

Let's look at the actual reality:

The Exchange Rate is the Issue: The exchange rate isn't an "excuse"; it is the foundation of the price. Stable at N1,600+/$ is still fundamentally broken. When the base currency is severely devalued, it permanently anchors local prices at hyper-inflated highs.

Look at the Depot Source: You are blaming "greedy marketers hoarding 6 months of reserves," but the Dangote Refinery just raised its own wholesale gantry price to N1,350/litre. Are you saying Dangote is a retail marketer hoarding fuel in a local filling station? Marketers are buying at a base wholesale cost of over N1,300. Adding transport and distribution costs easily pushes the pump price to N1,470+.

The Governance Failure: Nobody is arguing for "ghost subsidies." The argument is about poor sequencing. You do not float a currency and drop subsidies simultaneously without building a structural cushion for your citizens. A government's job is to manage the economic shocks, not to leave people to drown while shouting "market forces."

lordm:
Tinubu does not fix petrol prices

helinues:
This ADC people better stop their incitement or they will be picked.

Don't say you are not warned ahead oo

njokuuche77:
Nobody is defending the corruption of the old subsidy regime, but look at the terrible execution of this deregulation.

You do not remove subsidies and float the currency at the exact same time without making sure local refineries are fully functional and crude is supplied to them in Naira to shield the local market.

A responsible government doesn't just throw its hands in the air and say "market forces" while its citizens starve. Even in deregulated markets, governments use strategic reserves, tax waivers, and targeted interventions to keep energy affordable. Saying the government is completely helpless is just giving bad leadership a free pass.

lordm:
Tinubu does not fix petrol prices

njokuuche77:
Saying "Tinubu doesn't fix prices" ignores how governance works.
He doesn't hold the fuel pump, but his administration's policies completely dictate the price.

Economic Directives: He announced "Subsidy is gone" on Day 1 and floated the Naira, which caused the exchange rate crash that directly pushed landed costs of fuel to these heights.

Dual Role: He chose to remain the substantive Minister of Petroleum, meaning the sector's failures are his direct portfolio.

Constitutional Duty: The primary purpose of any government is the welfare of its citizens. When policy failures make food, transport, and school fees unaffordable, the leader takes responsibility. The number one seat isn't for decoration.

Make una no dey support nonsense abeg

helinues:
How is the fluctuation of oil price affecting the Naira stability? You are probably struggling to comprehend my comments

Dangote oil is a private business not government owned, why should government be responsible for how Dangote set his price? It's a free market, other marketers can sell theirs cheaper than Dangote, it's allowed

Except if you are expecting the over 3 decades rots in Nigeria to be cleared within 3 years, that's when you can claim you don't see the efforts of this government in stabilizing things.

Currently in Nigeria, how many sectors do we have, how many are not functioning?

njokuuche77:
Nobody is defending the corruption of the old subsidy regime, but look at the terrible execution of this deregulation.

You do not remove subsidies and float the currency at the exact same time without making sure local refineries are fully functional and crude is supplied to them in Naira to shield the local market.

A responsible government doesn't just throw its hands in the air and say "market forces" while its citizens starve. Even in deregulated markets, governments use strategic reserves, tax waivers, and targeted interventions to keep energy affordable. Saying the government is completely helpless is just giving bad leadership a free pass.

coleon:
I wish I can like this comment 100 times, majority of the people here are either ignorant or just decide to have selective amnesia.
Government exists for the people and not the other way round. I spent 6 hours in traffic yesterday to navigate from VI to Magodo while burning the fuel that I bought at 1400 per litre in the process.
I thought to myself that despite all these suffering going on in this country,that APC is still poised to win the next election means Nigeria is a lost cause and irredeemable.

njokuuche77:
You want solutions? Here is the alternative policy that a prepared government would have used instead of this reckless, uncoordinated shock therapy:

Phased Removal, Not Instant Shock: You do not remove subsidies and float the Naira on the exact same day. A competent government phases out the subsidy gradually while aggressively fixing local refineries first to protect the domestic economy from immediate shock.

Domestic Crude in Naira: If the government wants to protect citizens from "global oil prices," they should supply crude to local refineries (like Dangote and the modular ones) strictly in Naira, not USD. This shields local pump prices from the crashing exchange rate.

Strategic Energy Tax Cuts: Cut the heavy NMDPRA regulatory levies and port fees that the government charges on petroleum products to immediately lower the landing cost.

Saying "blame Tinubu for infrastructure and healthcare but not fuel" makes zero sense. Fuel prices directly dictate the cost of transport, food, healthcare, and infrastructure. You cannot separate them. Managing the energy crisis is his primary job.

EponObi:
Na Tinubu dey sell petrol?

You should direct your warning to your darling orange man in the White House who started a senseless war with Iran.

Nigerians are funny creatures. While Trump and his allies and family members were printing hard by trading oil and weapons & defense stocks, you were all orgasmic when that war started, especially the Christians. In their delusional mind, Trump was fighting an holy war. Those from the east too were jumping up and down because likewise in their delusional mind, Trump was punishing terrorists. A nation with civilization as old as 6000 years is a terrorist nation and one that America will defeat easily; funny remembering all they said then.

The entire world is suffering the effect of the war now but na Tinubu you wan blame? Lmaoooo. It must be ment.

Niok:
bro see mumu Abeg
Omo things dey occur o

KINGKONG:
Don't be stupid .......

njokuuche77:
My chairman, na me and you today ooo 😂
You are talking about a "free market" where marketers can just choose to sell cheaper than Dangote? With what product? Where will they get the cheaper fuel from?

Unless they want to manufacture fuel out of thin air, they either buy from Dangote at N1,350/litre or they import it with Dollars at N1,600+/$ (which costs even more).

And yes, Dangote is a private business, but the government owns a 7.2% stake in that refinery via NNPC and controls the crude oil supply. If the government fails to supply crude oil locally in Naira to protect the local market, Dangote has no choice but to price in line with international Dollar benchmarks.

Make you stop[b] to they use the "3-year rot" excuse. The issue isn't that the government hasn't fixed everything[/b], the issue is that their specific policy decisions directly caused this current currency crash and fuel spike. You cannot decouple the government from the economic environment they created.

lordm:
Tinubu does not fix petrol prices