₦airaland Forum

jumper524:
Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

Allow people to complain in peace. Afterall it is not your complain that they are complaining.

Keep deceiving yourself

TruthDefender:
buhari is trying. fuel price is coming down monthly.

next month petrol will sell for 87 naira

within 3 months he will fulfill his 2015 campaign promise by enacting a law to make 1 naira equal to $1

APC very good party. Nigerians good morning

Make i see as them go take ban the use gen again na,as our petrol don dy turn to water.them go tell me how many people get cars for dis country.very soon na beg them go dy beg people to buy fuel.Rubbish.

yyba:
This is very commendable from Nnpc, BUHARI lead apc administration means well for Nigeria and Nigerians.

Shaaataaap...nonsense everywhere

Good development.

jumper524:
Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

you are not ashamed... Go and find out those countries that produce petrol how much they sell in their local communities.. Many of you just swallow nonsense

We need some more. Good development

Formularcr7:
Good one from d government.

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

Harunabisanti:
We need some more. Good development

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

CXLVII:
God bless His Excellence, President Mohammadu Buhari (GCFR)

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

sevo:
By this comment, you can correctly guess which party affiliation he belongs to

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

Yes you are right,
But their per capital income also differ.
The salary of petrol attendant if any differs,
The salary of truck driver us also in dollars, do the exchange rate maths,
The cost per income capital at every transaction touch point differs or also higher and paid in dollars or Sterling,
All this will add up in the final retail price.
Nnpc runs a system where by crude oil is exchanged for refined oil ( adjusted for total oil per barrel ) that's why is still as cheap like we are selling refined oil.
We would have been a richer(I didn't say better) country if we sold refined oil directly.
By the time dangote refinery comes online,
The initial price may be a bit higher than the 125 per litres being sold now however his main market is already there, (which is Nigerian market).
Regards sir

PigTormentor:
I was just about to post the same message to these people complaining. They just don't know how much fuel is sold in countries like the US and UK. The US is the top oil producing country in the whole world yet it cost about N230 for a liter of fuel. The cost is way more the closer you get to the west coast. It's cheaper in the SE.

princemillla:
Not bad but they can do better

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

KINGwax007:
oshey!!! Awon Pat utomi

Why u no kukuma go buy gala and lacacera, go give them for filling station and collect full tank of fuel?

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

lightheart:
Good

it can never be good one from government... It is naturally falling.. So they have not done anything special... When fuel was sold at $75 and above if they have done this. Then I will see something special about it

But people should remember that ones the crude price increases the pump prices of petroleum products will also increase

gabbasin:
I thought they said the downstream sector is deregulated, why is ppmc still dictating prices.
Since the crash in crude oil price due to covid19, the pump price of AGO (diesel) hasn't come down and it is said to have been deregulated long time ago. Is price of diesel immune to market forces. My fear on this deregulation is that when price of crude oil climbs back, the Shylock marketers will form a cartel that will make it difficult to review prices of petrol downwards when crude crashes again as it is happening to diesel now. Diesel has steadied at average 210 for months as crude crashes by 60%

you are right.. We have a terrible and wicked cabals of marketers.... They never mean well for the citizens

PigTormentor:
I was just about to post the same message to these people complaining. They just don't know how much fuel is sold in countries like the US and UK. The US is the top oil producing country in the whole world yet it cost about N230 for a liter of fuel. The cost is way more the closer you get to the west coast. It's cheaper in the SE.

The point is, as u are quick to compare our petroleum price and advice us to stop complaining.

Why not compare our minimum wage and advice the government to also match up

Why is it hard for the government to let market demand and supply determine the price which I'm sure will be less than 100 naira.
At least do this for the common man.

Lush100:
Yes you are right,
But their per capital income also differ.
The salary of petrol attendant if any differs,
The salary of truck driver us also in dollars, do the exchange rate maths,
The cost per income capital at every transaction touch point differs or also higher and paid in dollars or Sterling,
All this will add up in the final retail price.
Nnpc runs a system where by crude oil is exchanged for refined oil ( adjusted for total oil per barrel ) that's why is still as cheap like we are selling refined oil.
We would have been a richer(I didn't say better) country if we sold refined oil directly.
By the time dangote refinery comes online,
The initial price may be a bit higher than the 125 per litres being sold now however his main market is already there, (which is Nigerian market).
Regards sir

You do made a lot of valid points. Part of the reason for higher fuel cost in the US and UK is TAXES. Each locality has a tax on Fuel the varied cost from State to State. Another important issue that we should remember is that because price of oil today is 10 dollars does not mean that the fuel you are buying today was also sold at 10 dollars before refining it. Oil are purchased in the future like 6 months contracts. Thanks

Let's hope for a better Nigeria. We all for God's mercy and good leadership.

martowskin1:
Supply is more than demand, correct ur self

Thanks

yyba:
This is very commendable from Nnpc, BUHARI lead apc administration means well for Nigeria and Nigerians.

if u really go better school and u understand economics well,u will not be saying this. Because u think d govt is giving u favor.

jumper524:
Very few countries sells petroleum cheaper than Nigeria.
Subsidies has been completely revoked and it sells this low.
We need to take advantage and stop complaining..

stop lying oga. I don't think u know d price of crude oil globally. We produce oil here and stop comparing us with countries without oil. Is it there fault Buhari lied to us about building refinenaries.

stormborn28:
The point is, as u are quick to compare our petroleum price and advice us to stop complaining.

Why not compare our minimum wage and advice the government to also match up

Good question.

If employers such as Chicken Republic have to pay the kinds of minimum wage to their employees like you have in California for example, then the chicken and rice you are buying will have to be priced like it is in California which is a whole lot more than N500 or N800.
The more you make employers pay their employees, the more cost they will pass on to the customers. No employer is going to bare the extra cost from their profit or they will simply go out of business. It could essentially leads to hyper inflation since the govt will have to borrow or print more money to pay for these increased minimum wages.
The minimum wage is low and should be increased but not to the level where employers can't sell their goods at reasonable prices.

If the price of oil stays this low for a longer duration, the price of fuel will still come down some more. The point I was making is that people iin the US and UK are saying the same thing people are saying here - if oil prices are so low why are we still paying almost the same price as before? Oil are sold in future contracts hence the oil that is used to refine the fuel now was more than likely bought when oil was selling at a higher price.
If the price stays this low for much longer then the price of fuel will also go down some more.

awesomely:
https://www.vanguardngr.com/2020/05/petrol-to-sell-at-n117-per-litre-as-ppmc-slashes-ex-depot-prices/

If the government has truly removed subsidy from petroleum completely, what's it's business with it price determination again?,I ask this question because in the future the government may turn around under the guise of this pricing issue to claim payment of subsidies again,but if the government is desirous of price control,then let them do it for all products n services.

Golan007:
Good.

Na 80 naira we go buy last last

...& kero is still over N200

Drienzia:
Dear COVID-19

It’s been over a month since you restricted all our activities, not minding what we all had in place prior to your outbreak. Initially i thought it was just a temporal stay, but days turned weeks, weeks turned months and we’re still waiting in uncertainty.

To say I’m not agitated on how things have turned out is laughable. I wish you never existed, at least not in my generation. What do you stand to benefit in The DEATHS, Those businesses and business trips you’ve halted, those you’ve relieved off their jobs, the hunger and hardship you’ve brought, those exams you stopped not minding how well we’ve prepared for them.

But then I ask, will praying or lamenting bring a solution to this pandemic? “Tongue-tied” But I will keep praying for our front-liners.

Guns can kill but same guns can protect. Arrows can kill but can be used for hunting. Dear COVID-19, I ask again, among your numerous maladies, what advantage have you provided ? You’ve done enough, why not leave and allow us use the rest of the year in healing mentally, emotionally and physically? Living right now is scary. Dear Hunger you know we’ve come a long way, why not spare us for now while we focus on combating this stranger called COVID-19?

Where are the vaccines ? Oh Humanity! See what you’ve been reduced to. But there’s HOPE, whether sooner or later, Humanity will win the fight against this Virus

—————————————————-
Indeed when all these are over, I will appreciate life more and be down to earth. Because it’s obvious God is the giver of life and everyone is equal whether rich or poor. Caucasian or Negroid

AT LEAST NOT IN YOUR GENERATION.


So, nah so you take wicked, wishing for your children (the future generations) this kinda evil.

PigTormentor:
Good question.

If employers such as Chicken Republic have to pay the kinds of minimum wage to their employees like you have in California for example, then the chicken and rice you are buying will have to be priced like it is in California which is a whole lot more than N500 or N800.
The more you make employers pay their employees, the more cost they will pass on to the customers. No employer is going to bare the extra cost from their profit or they will simply go out of business. It could essentially leads to hyper inflation since the govt will have to borrow or print more money to pay for these increased minimum wages.
The minimum wage is low and should be increased but not to the level where employers can't sell their goods at reasonable prices.

If the price of oil stays this low for a longer duration, the price of fuel will still come down some more. The point I was making is that people iin the US and UK are saying the same thing people are saying here - if oil prices are so low why are we still paying almost the same price as before? Oil are sold in future contracts hence the oil that is used to refine the fuel now was more than likely bought when oil was selling at a higher price.
If the price stays this low for much longer then the price of fuel will also go down some more.

exactly what I'm saying... People shouldn't tell us to pay #230 / litre because that how it sold in US as if our minimum wage is the same