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.

am so sorry if I offend u one way or the other cos of my view
I have some questions to ask u
Firstly, have the rate in which u on your generator reduce?

Secondly, do u filled up ur car tank the way u used to?

Thirdly av u, ur frnd or neighbor limit the way he move around with his or her car?

If ur answer to all this my questions is not on the affirmative that means we the masses are solely the main reason there is a drop in consumption

A wise man ones say
The only way u can detect if a country economy is good is wit the masses not with the minority

erico2k2:

I have checked and it says $0.80/ltr
If you do the maths you will see that the sums do not add up.or you got any other country in mind ie venuzuela . .its meant to be cheaper there

Pump prices are different from the one shippers buy

Are they surprise there is reduction in consumption? They made things hard for people and they're surprise it worked? Id*iots!!

A smart person would have fixed our local refinerires and build more if needed, to render subsidy useless before removing it! But..no, buhari the incompetent as*shole, chose to plunge the moribund country into more hardship in order to brag that he removed the subsidy! What a fool!

mrvitalis:

Pump prices are different from the one shippers buy

Really ? Care to Xplain?

Godjone:
Buhari and Osunbade should go and drink the oil.

The hike in price of the product by the Dollard is responsible for this quagmire.

Buhari is an economic disaster, a terrible and stack illiterate

"Stack" illiterate?

busomma:
The truth is Nigeria was not consuming 40 million liters of fuel daily. It was padded by the marketers to keep on fleecing the country. What we have now is a true reflection of the actual consumption. Thanks to the able Buhari government that has the political will to remove the fuel subsidy thereby dealing a major blow to the oil cartel that has been milking Nigeria dry for such a long time.

This was the point SLS made during the Lagos Subsidy Debate in 2012 that the then government didn't like and got him into more trouble. Documents on Crude shipment coming to CBN didn't just make sense, considering the number of vehicles in the country


https://www.youtube.com/watch?v=tK1vvL2P1zM


https://www.youtube.com/watch?v=kTly9wWVH5c


https://www.youtube.com/watch?v=AMmr8f4i3dA

Larryton:
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

Let me try to explain to you sir why Buhari removed him as GMD maybe u Will understand if ur not a wailler. No doubt Kachikwu is one of the A performing minister of this administration. But he alone cannot be GMD,minister and member of board. This will be against the norm and will bring about conflict of interest.
Since he is being nomited for member of board, it becomes expedient for him to relinquish one of the position for better efficiency, therefore this appointment.
However what I expected the President to do is to make him substantive minister, but he is already acting in that capacity anyway

OptimusJnr:


As much as many for see this to be the case in the nearer future I believe the CBN Liberalization policy is what would determine if we would end up buying petrol at N200/ltr, if there is enough FOREX for importer to bring in the product then be rest assured the price of petrol would drop.

Voodoo economics. CBN policy basic means that CBN and black market rates at parity, so importers are going to peg their prices to the cost of $ to Naira.
Most importanly, oil prices and futures are set at New York Meecantile Exchange, so people what Americans plus cost of refining, freight, govt taxes and profit.

greatness22:
Now who's this pillock?

wow like I said ignorant

vkon2:
am so sorry if I offend u one way or the other cos of my view
I have some questions to ask u
Firstly, have the rate in which u on your generator reduce?

Secondly, do u filled up ur car tank the way u used to?

Thirdly av u, ur frnd or neighbor limit the way he move around with his or her car?

If ur answer to all this my questions is not on the affirmative that means we the masses are solely the main reason there is a drop in consumption

A wise man ones say
The only way u can detect if a country economy is good is wit the masses not with the minority

No i disagree because your statement is not backed up with with facts such as statistics. Mine is also not backed by statistics. That is why i use the word probably. I accept there is an element of reduction in consumption of petrol occasioned by consumer prioritized utilization of the product. But it will be no where near 30%. My point is that the elimination of round tripping has probably contributed more to this reduction than anything else. I hope there is no partisanship here because I have not intention to inadvertently put GEJ's government on the spot. Round-tripping predate's his regime. I hope you will not take offence for differing with you. Thanks.

Billyonaire:
There is nothing like deregulation. People can no longer afford to burn the petrol anymore. Nigeria is on second quarter recession with double digits inflation of almost 16%. The purchasing power has reduced by 30%, with poverty spiraling out of control. My neighborhood has rate of vacant homes as tenants can no longer afford rents and are moving to smaller apartments.

It is either the government is ignorant or are simply trying to confuse their fellow illiterates who by-the-way voted them in.

It is really a very sad situation, I visited Nigeria for 2weeks and what my eyes saw, my mouth can not speak. Nigerians were warned but they wouldn't listen. I was so vocal against buhari on nairaland that seun and his goons gave me a life ban. Let Nigerians swim in d catastrophic flood they created for themselves because of parochial greed and tribal sentiments, it serves them right.

codedguy1:
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.

During the Senate Ministerial Screening. Ibe Kachikwu, when talking about subsidy, did mention to the Senate that from what he has observed in the few months he has been GMD-NNPC, the actual daily consumption of PMS was - in his words - "closer to 30million than 40million". He stated that they were working with the PPPRA to ascertain the true figure.
---
You can see that the former GMD had already hinted a long time ago that our true consumption is around 28-32m litres/day.

Starvation nd more hardship is our gain atlast,fuel is sold times two of the previous price nd yet the refinaries cannot refine,no light,employment, roads etc nd no strategy towards realising them.nothing good works in this country;with all this profits made by govt no any tangeable policy/project aimed at alievating the masses nd yet nobody cares..........to hell with our leaders;the snakes will go after them one after another least the real change abounds!

jomonic:


No i disagree because your statement is not backed up with with facts such as statistics. Mine is also not backed by statistics. That is why i use the word probably. I accept there is an element of reduction in consumption of petrol occasioned by consumer prioritized utilization of the product. But it will be no where near 30%. My point is that the elimination of round tripping has probably contributed more to this reduction than anything else. I hope there is no partisanship here because I have not intention to inadvertently put GEJ's government on the spot. Round-tripping predate's his regime. I hope you will not take offence for differing with you. Thanks.

No offence, you failed to answer any of his questions.

erico2k2:

No offence, you failed to answer any of his questions.

Which question bro.

Tell me dear Mr. Kachikwu, how is reduction in consumption an achievement? Don't you think its because purchasing power has reduced. People trek more now. And also take their power banks to office to charge and return home to darkness. This is shameful

omowolewa:
Smuggling to neighboring countries are no longer lucrative.

Reduced consumption especially on generators

Elimination of padded data for subsidy scam

Increased local production within the creeks

Reduced purchasing power due to economic hardship.

Very sound and unbiased.

dvee2:


Let me try to explain to you sir why Buhari removed him as GMD maybe u Will understand if ur not a wailler. No doubt Kachikwu is one of the A performing minister of this administration. But he alone cannot be GMD,minister and member of board. This will be against the norm and will bring about conflict of interest.
Since he is being nomited for member of board, it becomes expedient for him to relinquish one of the position for better efficiency, therefore this appointment.
However what I expected the President to do is to make him substantive minister, but he is already acting in that capacity anyway

Nope! Am not a wailer but support progressive government,
Thanks for the enlightenment though.

jomonic:


No i disagree because your statement is not backed up with with facts such as statistics. Mine is also not backed by statistics. That is why i use the word probably. I accept there is an element of reduction in consumption of petrol occasioned by consumer prioritized utilization of the product. But it will be no where near 30%. My point is that the elimination of round tripping has probably contributed more to this reduction than anything else. I hope there is no partisanship here because I have not intention to inadvertently put GEJ's government on the spot. Round-tripping predate's his regime. I hope you will not take offence for differing with you. Thanks.

nice view tho

adconline:

Voodoo economics. CBN policy basic means that CBN and black market rates at parity, so importers are going to peg their prices to the cost of $ to Naira.
Most importanly, oil prices and futures are set at New York Meecantile Exchange, so people what Americans plus cost of refining, freight, govt taxes and profit.

Not sure about the rates being at parity as we can see