alienvirus:
Great development. Bringing down the cost of PMS has always been a challenging one. PDP/Obasanjo era was worse. Obj spent 8 years and increased the cost for 8 times.

I am pretty sure Buhari is doing a wonderful job up there.

God help the current leadership.

Abbeyme:
The Federal Government has approved a new pump price for Premium Motor Spirit (PMS) otherwise known as petrol. This new price of N86.50k was announced night of Tuesday, 29th December 2015.


Details later

This news also came up on Channels news at 10.00pm and was also captured on the news bar as shown:

opal4real:
And some Eidiots will applaud this 50k Change.
Suffering and smiling Nigerians.

saint047:
Dear Stella,

We apologise for criticising you for those BMW cars

GMB wants to buy his own for N3.6B

Signed:
Ex-Stellagate Activists

x12345678x:

I hardly comment on anyfyn here buh seeing ur comment rilly does irk me.! Dude seriously!!!!!. Oil price fell from $80+ per barrel to $37 and presidency reduces PMS price from N87 to N86.5, and its still being subsidised?. Common mehn u guyz just stop dis. I have no time for politics buh I fink d last govt had a berer policy concerning subsidy/pump prices. Although I hear some ppl vehemently refused it for only-God-knows-what reasons.

alienvirus:
Great development. Bringing down the cost of PMS has always been a challenging one. PDP/Obasanjo era was worse. Obj spent 8 years and increased the cost for 8 times.

I am pretty sure Buhari is doing a wonderful job up there.

God help the current leadership.

tomakint:
This is madness.......what is this when the oil price at the International Market had been projected by the IMF to hit a bottom $20 per barrel in the coming year. By now this administration should be talking about crashing the PMS to N50 and do likewise to other fuel like kerosene and diesel and not this killing and robbing N86.50k in a country where prices of other commodities had skyrocketted against the buying power of the Naira, that is inching close to N300 to a dollar

donholy28:
86.50k good but where u see d fuel?

excellentmomma:


Where is the product kwanu, most stations are locked in Lagos here,

Give us the product @ N87 we don't mind.

The available black mkt is N200 so price reduction doesn't make sense if the product is not available.

Abbeyme:


Great argument you are presenting here, dude

tomakint:

$37.87!

alienvirus:
Great development. Bringing down the cost of PMS has always been a challenging one. PDP/Obasanjo era was worse. Obj spent 8 years and increased the cost for 8 times.

I am pretty sure Buhari is doing a wonderful job up there.

God help the current leadership.

lordizak:
U for go run government urself, that scam called subsidy has been removed.

cele360:
Rubbish, are we making use of our Kobo coins here in Nigeria? if i want buy one liter how I go take get change...

alienvirus:
Great development. Bringing down the cost of PMS has always been a challenging one. PDP/Obasanjo era was worse. Obj spent 8 years and increased the cost for 8 times.

I am pretty sure Buhari is doing a wonderful job up there.

God help the current leadership.

njikoamaka:
Confirmed, na comedians full this government with their own alibaba in aso villa.

DonUjay:
.You just said it has been PROJECTED by the IMF (Emphasis on the word Projected) that Oil price will fall to $20 and you want the Government to take actions based on Projections by bringing price down to as Low as N50

asala1:


The average price of PMS around the world is 1.00 U.S dollars.

francizy:


Minimum wage in US is btw $6 to $7 per hour.
lets assume someone works 7hrs per day, 5 days/wk and 4 weeks
Therefore min. wage in US is approx $980 per month with enough time to rest (assume $7/hour)
this is roughly N196,000

Mathematically if N196,000 pays N200/litre in US, therefore N19,000.00 should pay 200/196000*19000= N19.38k period



What is the minimum wage in countries where PMS sells that high? Can it be compared to the paltry 19k (which they are even threatening to reduce) Nigerians are receiving as minimum wage?

Kx:
Reduction has been confirmed yes.
However, no details has been provided.

Fair enough pmb will be addressing the nation by 7.00pm today, why don't let's wait for more details before rushing on name calling,labeling, mudslinging and all sorts of speculations?

obailala:
Why is this government afraid of just deregulating this petroleum sector now?... Why cant they just throw subsidy away and deregulate now that oil prices are low?