Deregulation: Petrol Consumption Falls By 30%, Says FG - Politics (2)

Deregulation: Petrol Consumption Falls By 30%, Says FG - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Deregulation: Petrol Consumption Falls By 30%, Says FG (36730 Views)

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by goddyjay(m): 11:07am On Jul 09, 2016

hmmm

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by sankky: 11:08am On Jul 09, 2016

SO THE ZOMBIES ARE NOW HAPPY THAT ITS A GOOD SIGN THAT ALL OF A SUDDEN, 30% OF NIGERIANS CAN NO LONGER AFFORD TO BUY FUEL. THEY ARE ALSO HAPPY THAT ONLY THEM CAN AFFORD TO BUY FUEL AND OTHER ESSENTIAL THINGS OF LIFE WHILE OVER N150m OTHERS CAN'T.
THE BLACKMAN IS SURELY A CURSE TO THE WORLD. NO WONDER NO RACE RATES BLACKS AS HUMANS undecided

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 11:09am On Jul 09, 2016

SeverusSnape:
True, Many people can't cope with the new price.

The hardship in the country isn't helping issues, many people have parked their vehicles and are now using public transport.

But some months (and years) back, One dullard said there's nothing like subsidy.

Snapers! So are you saying GEJ was wrong to have increased fuel price to 140 naira in 2012?

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by codedguy1(m): 11:15am On Jul 09, 2016

So we practically now consume around 20-25million litres daily depending on what the initial figure was which was really not known.

We bandied between 30 - 40million litres as our daily consumption in the past.

I think the main reason for this reduction is reduction in smuggling of the product because of its unprofitability after the removal of the subsidy.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 11:15am On Jul 09, 2016

The fall in the consumption numbers might not be entirely due to the increased pump price. It might reflect the actual consumption rate which was exaggerated during the subsidy era as a means of defrauding the government through presentation of receipts to claim money for products not supplied. It implies Nigeria was probably providing subsidy payment 30% more that the required amount.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by VERDA: 11:18am On Jul 09, 2016

tuniski:
U need comprehension skills! 30% drop in consumption of fuel is a direct hit on GDP and overall ecoomic well being of the nation. It simply means we are heading to depression!

The economy is in terrible state.

Help me tell them please,80% of the time a drop in energy consumption of any country is indicative of a rapidly slowing growth.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Wallade(m): 11:20am On Jul 09, 2016*

The major reason for the significant drop in consumption must be that subsidy removal made the business of diversion of petroleum products to neighboring countries unattractive and unprofitable.

In the past, petroleum marketers ship petroleum products through Nigeria with disguise that the entire products are for Nigerian market. They claim subsidy on the shipment from the Nigerian government and then divert the bulk of the products to neighboring West African countries where they sell above Nigeria's regulated price.

It may shock you that petroleum products that probably was not shipped into Nigeria were presented as received inventories to claim subsidy payments for products not supplied.

That was the magic - the more you look, the less you see - of those days of subsidy.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by theMEGAman(m): 11:21am On Jul 09, 2016

tuniski:
U need comprehension skills! 30% drop in consumption of fuel is a direct hit on GDP and overall ecoomic well being of the nation. It simply means we are heading to depression!

The economy is in terrible state.

don't mind the idi*t, he don't even understand the English what consign the woo of economy and subsidy. some people here think that they can play politics in everything.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Nobody: 11:22am On Jul 09, 2016

SeverusSnape:
True, Many people can't cope with the new price.

The hardship in the country isn't helping issues, many people have parked their vehicles and are now using public transport.

But some months (and years) back, One dullard said there's nothing like subsidy.

many people were wasting petrol because it was cheap, unnecessary journeys, excessive speed etc

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Perfecttouch(m): 11:25am On Jul 09, 2016

Islie:
http://punchng.com/deregulation-petrol-consumption-falls-30-says-fg/

the rate at which people are selling their cars is alarming and at a cheap price for that matter. Gbogbo eyin eleeribu dede

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by frisky2good(m): 11:25am On Jul 09, 2016

GenWOJUOLA:
Why wouldn't it drop? When d price of a good increases by about 80%, d demand would have to drop too.I hav parked my car, two of my neighbors have also parked theirs, d oda sold his wife's car. What Buhari failed to understand is that everything in this country runs on fuel!!!! The barber, the restaurant, manufacturing industries, even govt offices AND BARS ! With increase in cost of goods nd no increase in purchasing power, wat did Kachikwu and co expect People would reduce consumption and as such manufacturers would also reduce output and by extension reduce the qty of fuel purchased to run their factory.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by nonix22(m): 11:28am On Jul 09, 2016

carbon emissions will drastically reduce in no time. One will have to breathe in fresh air now. phew!

In my area in wuse zone 4 Abuja, now now is 11.27am, saturday-and its as if there is curfew. Every where dry! I can even count cars that have passed in the pass One hours.

http://whatsyourimpact.org/greenhouse-gases/carbon-dioxide-emissions

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by elvymoore: 11:35am On Jul 09, 2016

designking:
Smuggling and roundtripping stopped because it is no longer beneficial. Demand does not just drop drastically this way because of a suppose increase in pump price. Petroleum price has always been way higher than N100 in most part of the country even when government was subsiding it.

The question to ask is why is the product suddenly available nationwide?

ur submission makes so much sense. I believe d reduction in consumption is BC round tripping has been discouraged by deregulation. even when PMS was sold at N145 and above, consumption did not drop. so why now. basically judging from my locality I don't think that there is much drop in how people buy fuel. the same lifestyle persists even though there is hardship. bottom line is that that 30% and more reduction to come is as a result of bogus claims from marketers who are bent on exploiting the subsidy system. at times Nigerians let's look beyond sentiments and analyse issues properly

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by edoyad(m): 11:37am On Jul 09, 2016

Alright , you claim this .......

“We have succeeded in removing subsidy and saving over N1.4tn for this country on a yearly basis. We have reduced upstream contracting period from the average of between two and half years to between six and nine months and we have started a massive commercialisation of every aspect of our business.”

...but 60% of the states in Nigeria can't pay salaries and have been even taken to International courts by SERAP. Who's deceiving who ?

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by edoyad(m): 11:39am On Jul 09, 2016

elvymoore:
ur submission makes so much sense. I believe d reduction in consumption is BC round tripping has been discouraged by deregulation. even when PMS was sold at N145 and above, consumption did not drop. so why now. basically judging from my locality I don't think that there is much drop in how people buy fuel. the same lifestyle persists even though there is hardship. bottom line is that that 30% and more reduction to come is as a result of bogus claims from marketers who are bent on exploiting the subsidy system. at times Nigerians let's look beyond sentiments and analyse issues properly

Dude you are wrong. I know many workers who park their cars 50% of the times as compared to before. Life styles have seriously changed. Let's not even talk about how this country has been powered by generators since January. Stopping the round tripping is a factor but that's hardly the story

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by chiefoboh1(m): 11:39am On Jul 09, 2016

Why wont it fall wen dey hv increase everytin nd even reduce salary

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by elvymoore: 11:40am On Jul 09, 2016

sankky:
SO THE ZOMBIES ARE NOW HAPPY THAT ITS A GOOD SIGN THAT ALL OF A SUDDEN, 30% OF NIGERIANS CAN NO LONGER AFFORD TO BUY FUEL. THEY ARE ALSO HAPPY THAT ONLY THEM CAN AFFORD TO BUY FUEL AND OTHER ESSENTIAL THINGS OF LIFE WHILE OVER N150m OTHERS CAN'T.
THE BLACKMAN IS SURELY A CURSE TO THE WORLD. NO WONDER NO RACE RATES BLACKS AS HUMANS

it doesn't work that way. for instance in my locality people who on their gen every nite still do so even now d price is 145. people who still drive to work still do so no matter whether rich or poor. after all we bought fuel for over 160 for months yet peoples lifestyle didn't change much

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by tonguengineer(m): 11:40am On Jul 09, 2016

mrvitalis:
And we paid subsidy for the 30% for years.. . Who actually benefited from this things
PDP was a cancer we actually removed

Ur brain needs to be evaluated bro
Did u even read it @ all

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Trustyd1(m): 11:41am On Jul 09, 2016*

jomonic:
The fall in the consumption numbers might not be entirely due to the increased pump price. It might reflect the actual consumption rate which was exaggerated during the subsidy era as a means of defrauding the government through presentation of receipts to claim money for products not supplied. It implies Nigeria was probably providing subsidy payment 30% more that the required amount.

I don't agree with u,
Since the increased I've reduce by far my consumption. At N87 per litre N500 could buy me 4litres and I'll have change then run my gen. But at N145 per litre, 3Litres is already abt N500 and will run the gen in less time.
Let me analyse the impact of this increase. 1. No more power supply so we that depends on power to do our work are less productive. I'm a movie Editor and for like 1week now we have not have electricity for more than 3hrs. People that pays me are not willing to increase their pay so when I check how much it will cause me to do a job of 3week on steady gen power I've to turn down some jobs that will make a litle profit. Now who is gaining? I never support the subsidy, even when GEJ removed it I supported it but the government should make good plans to make the product available at affordable price. At least they promise during their campaign that it will be sold for N40.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by chidiandre(m): 11:45am On Jul 09, 2016

greatness22:
Why won't it fall drastically? Some Nigerians can't cope with the new price.

am sure somebody just dash u phone read it very well abeg and don't be ignorant again

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by edoyad(m): 11:45am On Jul 09, 2016

tonguengineer:
Ur brain needs to be evaluated bro
Did u even read it @ all

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by SeverusSnape(m): 11:48am On Jul 09, 2016

Quakertellicus1:
Snapers! So are you saying GEJ was wrong to have increased fuel price to 140 naira in 2012?

No, He was right. But we know what happened afterwards.

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by dunkem21(m): 11:49am On Jul 09, 2016

TANTUMERGO007:
I dont want to believe that severussnapes sold the last wailing form to you. lwkmd

its good to see you wailing

You mean he was scammed huh

.. because I didn't sign any wailers form from the secretariat angry

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by Larryton(m): 11:50am On Jul 09, 2016

If what they wrote here professed by this man is true, that makes him an acheiver of great deed and an asset to this nation in his short tenure in office as the GMD of so called NNPC. But, I wonder why Buhari would remove such active person without tangible reason. So far so good u have done well kachuwku

Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by 2rutalk1: 11:50am On Jul 09, 2016

"We are saving over N1.4trillion annually from subsidy removal, we have saved over N3.1 trillion from TSA, we have saved over N1.8trillion from ghost workers, we have recovered over N3.7trillion from looters" yet you can't fund the budget, you want to borrow money to pay salaries, no single infrastructural project has been initiated by your administration, Nigerians are suffering. What kind of Economic principle can justify this? "it is all about the greatest good for the greatest number". You guys are better off while the masses are worse off. Any economic progress that does not improve the welfare of the people is useless, if you like save $50trillion, as far as it cannot create jobs and reduce poverty, it is useless.

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Re: Deregulation: Petrol Consumption Falls By 30%, Says FG by elvymoore: 11:52am On Jul 09, 2016

edoyad:
Alright , you claim this .......

...but 60% of the states in Nigeria can't pay salaries and have been even taken to International courts by SERAP. Who's deceiving who ?

ask urself why some can't pay why are some still paying as and at when due. many governors don't understand what administration is about. some think a governor is one who distributes and spends allocations of a state not one who also generates. as a governor for any money u spend u suppose to have put in place how to generate more.

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