₦airaland Forum

No wonder NNPC reported profit- less costs, more revenue from increased prices while the people suffer.

My guess is, the reduction in consumption is as a result of subsidy removal, marketers are unable to smuggle it any longer due to the loss that might be incurred or let's say it will be profitless, i am saying this because where i stay i don't see any reduction in purchase of fuel, people still buy it as they did before it got to #145/litre, another funny thing is, its now suddenly available everywhere.

SeverusSnape:
Keneking is now a closet wailer No more 'Jonathan sef', Now it's Buhari sef!

That dude is feeling the heat, we warned them but they refused to hear. Most of them can't even buy data to come online, the one way they sell land no get customers again.

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

If people dey talk, u my guy no suppose talk, Cos u no dey buy fuel 4 aanything.

Keneking:
30% increase in price and 30% reduction in contribution to GDP

Buhari sef

This one Don dey wake up small small

This thirty percent is the amount of fuel subsidized by Nigerian hard earn money but smuggled to other neighboring African countries by oil cabals. Kudus to Kachikwu

edoyad:
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

in more civilized countries do people always carry their private cars to go just to everywhere. Nigeria has been ran down for over a long time revival will be gradual

mistasameer:
Actually it doesn't affect GDP in the way which you have portrayed. Gross Domestic Product roughly explained is a measure of the monetary total exports of all goods and the services by a country in a given fiscal year. The drop will better be explained by the fact that since deregulation, it has become less/marginally profitable for profiteers who would usually smuggle fuel already subsidized to "neighboring" countries to sell.

Energy consumption is a measure of economic activity and growth => GDP. Smuggling alone cannot explain the drop of 30%. Face it Nigeria is in recession and the naira is almost garbage.

doctokwus:
Let's forget all d figures previously bandied about in regards to all of our economic and social indices, almost all were corruption driven.
We are about to start knowing the true state of our economic demands and supplies

We should 4get the previous figures and stick to dese ones? Why?

chiefoboh1:
Why wont it fall wen dey hv increase everytin nd even reduce salary

while some States re saying they can't pay minimum wages some re increasing salaries of their workers in this same hard times. ask urself how and why?

mistasameer:
Actually it doesn't affect GDP in the way which you have portrayed. Gross Domestic Product roughly explained is a measure of the monetary total exports of all goods and the services by a country in a given fiscal year. The drop will better be explained by the fact that since deregulation, it has become less/marginally profitable for profiteers who would usually smuggle fuel already subsidized to "neighboring" countries to sell.

And if our GDP drops by more than 20% this year, hope u will still be on Nairaland?

Since the increment and hardship in the country , I now use public transport to go to work. My car is parked.

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.

Assuming somebody called you a dullards will you be happy? Where have you people put your home training ethics ?

elvymoore:
in more civilized countries do people always carry their private cars to go just to everywhere. Nigeria has been ran down for over a long time revival will be gradual

In more civilized countries, there's no such thing as presidential Airfleet with 10 planes for The president , his cabinet and their families. Its a two way street bro

Is kachukwu proud of this achievement?
This was same subsidy GEJ wanted to do years back but was vehemently rebuffed by this same govt, so what is the big deal?

Life is very difficult for many Nigerians and the eediot is counting his achievements any govt could have done

Am angered by the insensitive behaviour the govt we voted into power is showing. Making life unbearable for many while celebrating nonsense

Abelpeters:
if u can't power your machine(s); pls pack well. You people think say na willingly china people dey use bicycle? Seat down there!

we grew up in Nigeria with d culture that wasteful spending is a virtue that's what I call squandermania mentality. in Nigeria even a local councillor moves around in a convoy. in China And Japan a big factory owner can move around on a bicycle even with all d assets he has. a lot of people here are not productive but just depend on slush funds from government to spend on frivolous matters.

/
You can only consume what you can afford.

\

Hmmm. May God help Nigeria
Read Devotional now for free at www.Openheavensdaily.org

edoyad:
In more civilized countries, there's no such thing as presidential Airfleet with 10 planes for The president , his cabinet and their families. Its a two way street bro

I support u on this. so u see a lot of overhauling needs to be done. we have to start from somewhere

That is so untrue.. But you're also so very entitled to your opinion.

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.

mistasameer:
Actually it doesn't affect GDP in the way which you have portrayed. Gross Domestic Product roughly explained is a measure of the monetary total exports of all goods and the services by a country in a given fiscal year. The drop will better be explained by the fact that since deregulation, it has become less/marginally profitable for profiteers who would usually smuggle fuel already subsidized to "neighboring" countries to sell.

No u are wrong! GDP is a snap shot of the aggregate productive economic activities of a nation within a given time normally a year.

Fall in energy consumption therefore means a fall in productive activities which in turn means a fall in GDP! It is for lack of knowledge that anyone will celebrate a red flag as positive!

Nations with growing GDP and prosperity experience increasing energy consumption even at higher cost!

Why won't it reduce when the cost of living(fuel, food and basic commodities, etc) is more than monthly income.

Buhari and poor economic planning sef. If he continues like this till 2019, even his brothers will not vote for him.

Yes you're on track... That dude talking about GDP crap amazes the fvck outta me.
Some people sha

mistasameer:
Actually it doesn't affect GDP in the way which you have portrayed. Gross Domestic Product roughly explained is a measure of the monetary total exports of all goods and the services by a country in a given fiscal year. The drop will better be explained by the fact that since deregulation, it has become less/marginally profitable for profiteers who would usually smuggle fuel already subsidized to "neighboring" countries to sell.

tuniski:
No u are wrong! GDP is a snap shot of the aggregate productive economic activities of a nation within a given time normally a year.

Fall in energy consumption therefore means a fall in productive activities which in turn means a fall in GDP! It is for lack of knowledge that anyone will celebrate a red flag as positive!

Nations with growing GDP and prosperity experience increasing energy consumption even at higher cost!

u sound as if our productive activities has been on a higher scale before now. d productive activity which u opined should be used as a paradigm for measuring our GDP. on d contrary I think what we had was more of consumption activities under which guise smuggling to other nearby countries is hidden. people who need PMS to be productive still buys them e.g the taxi, keke, Okada drivers, businesses that require power etc, they still buy d PMS that they need to do their daily task. where we might see reduction is people who buy PMS to use for not so important things.

Vendoor:
This feels good

What feels good about this? When people can't cope with the hardship

S6un:
This means that the economy has nosedive. People are no longer driving to work because there's no work.
People no longer fill up their generator because no spare cash.
In short the economy is finished.

I detest that your last sentence. Nigeria economy is not finished, maybe you are speaking for yourself. even when petrol was selling for 86# some people still couldn't afford it, under jonathan every eligible Nigerian never had a job, if 1$ is equal to 1# some people we still grumble. be positive and join those Nigerians that are making progress. people are buying new cars daily, building new houses, setting up new business even on nairaland here. wake up and move forward. Nigeria is alive.

For naija we get plenty mineral resources, but people still dey break down pass moluwe buses.....

Its because no more yawon banza (roaming around aimlessly) on cheap fuel.

Well..why wont we experince hardship and porverty in the country..when the country is in the hands of wicked and evil people.i dont blame them i blame the so called bishops, ministers in our country who just fold thier hands and watch.

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

Now who's this pillock?

ilevic:
What feels good about this? When people can't cope with the hardship

Nigerians will survive somehow

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.

Bros,

Unfortunately the joke is on you with comprehension skills, going by your analysis on GDP and economic well being.......as it shows you do not comprehend what GDP is