₦airaland Forum

We truly missed you in abuja, u turned abuja 2 what it's today, d yeye minister that took over from u couldn't maintain d standard u lay down...kaduna people's I hail ooooo, u have d best governor in Nigeria

Smart, bold, brainy, no nonsense

I got sometin like dis, but I didn't open it

In just 3months, and some ppl are still blind to see a good signs of g8t country

So happy I voted for PMB

The Federal Government’s daily spending on petrol subsidy may dropped from the N2.4 billion it recorded in June to N1.07 billion as at Monday this week.

Specifically, the country’s daily subsidy per litre of fuel has decreased from the N51.61per litre it recorded on June 11 to N22.42 per litre.

The Petroleum Products Pricing Regulatory Agency (PPPRA), which made this disclosure on Monday in its pricing template , put the expected open market price of the product at N109.42.

Based on daily petrol consumption of 48 million litres, the total subsidy cost on the product as of September 7, would amount to N1.07 billion at N22.42 per litre.


The landing cost of Premium Motor Spirit (PMS), otherwise known as petrol, has also dropped from N123.12 per litre to N93.93, while the Expected Open Market Price declined fromN138.61 per litre N109.42.

Subsidy refers to the money paid by the government, to keep prices below what they will otherwise be in a free market system.

Nigeria, which relies on importation for most of its fuel needs as the country’s refineries are in a poor state, has seen a drop in importation of refined petroleum products in recent months, leading to acute scarcity of the products across the country.

Nigeria export all its crude oil produced and has not been earning much since the decline in prices.

The global benchmark Brent crude lost almost half of its value since June last year, plunging below $40 per barrel.

September West Texas Intermediate (WTI) crude oil futures fell by 2.23 per cent and were trading at $44.15 per barrel on Monday, in the electronic session in NYMEX.

Prices fell due to oversupply concerns and economic growth concerns across Europe and China.

Chinese crude oil imports fell by 13 per cent in August 2015, compared to August 2014—to 26.59 million tons.

The slowing Chinese demand for crude oil in the oversupplied market will continue to fuel pessimistic sentiments in the crude oil market.

The landing cost of petrol was put at N75.15 per litre on January 23, with a subsidy of N3.64 per litre, almost a week after the Federal Government reduced the pump price of the product by N10 per litre.

Meanwhile, PPPRA confirmed to The Guardian yesterday that it has approve supplementary import allocations for at least 300,000 tonnes of petrol for the remainder of the third quarter.

The allocations, which enable the companies that hold them to import fuel under the country’s subsidy regime, are in addition to the 1.5 million tonnes issued for the third quarter earlier this year to at least 37 importers.

http://www.ngrguardiannews.com/2015/09/nigerias-daily-fuel-subsidy-drops-to-n1-07-billion/

+2348037014057, dats one of d best and biggest fashion academy in abuja. Thank me lata.. cheers

Wow my president rocking a nice brown shoes, seeing him on brown 4 the vary 1st time. Everytin about u oooz leader

Lolz dats d reason u supporting him. GEJ so intelligent silent than talking lolZ

Both of them need 2 be sacked, childish calling each other names

So Nigeria can do right tinz, seems like a dream, every aspect of govt ready and willing 2 work

We gaining back all our lost respect

Good move

APC has killed their spirit , nothing 2 talk about, most of their so called meeting it's all about how 2 share the money, now that d power has shifted do u expect them 2 travel dat distance for mere talk lolz

PMB family r just so so so simple

What do u expect, no more free money , so hard 2 keep up with expenses and paying all dis E-warriors

Lol even on nairaland they are disappeared

How na abba

La ka ye

Nigerians kai even so called American still using old tv

Ppl forgot u can talk 2 ur God urself, when u open all ur secret to so called man of God, they use it against u.

Oga sorry, u need 2 be more careful, the so called pastor not just after ur wife but ur property

Guy seriously u self say wat u type na
Anyway no vex, though I still stand for u 2 do a check up

Cheers bro

Gejpresident:
lol

U r mad guy

U can't be normal, they should take care of u before u enter market

Gejpresident:
The man is mad

Our own Niger Delta oil

Hausa man giving 100 days ultimatum

No wonder God deprived northern and western Nigeria of oil

God bless Niger Delta

God bless Melbourne

I am proud of PMB, Nigeria will be g8t again

VIP hmmm he has money ooooo, anyway thanks for declaring ur assets

Dis a sign of a good leader, willing to serve not 2 be served.

With dis declaration, looters are all in big trouble because he's not ready 2 compromise, baba time to kick d ball rolling, kirikiri u going 2 have a lot of guest in 4years



Sai baba
Sai Nigeria

Garri and ofio mixed with small sugar

Oops! God have mercy on us, protect and guide us from the eyes of evil, could be anybody, may we not leave our home d day road going 2 cry for blood. Amin


RIP to the dead

They r d best in abuja, why I really don't miss home, because u get all u want dere

ADAMUdaCOWBOY:
I ate poundo with egusi soup there the other day, I tell you the soup plenty pass the swallow! Even water to wash hand na warm water dem dey give

Take away is d best, both d food and stew or meat u just can't finish them, less den 1500 worth of food, any day any time always get hot meal dere

peppyluv02:
Only a glutton that can finish a plate of food there. The plate of food is intimidating. I lose my appetite once they keep that mounting In front of me.

That's my second home, mostly I ate at d breach close 2 amigo store, u can't finish their food lolz

stpat1:
So true my guy. I just love that place, the food is so tasty and rich and their service is fantastic. Above all, its worth every kobo.

When u put all 2gther den u lost d beauty

Stop we statement and start using we have abba

In as much as I love PMB, d issues of promises getting me bored

Dino and fayose should be friends

Nigeria govt, national assembly, human right activist, Nigerians the question is what are we doing about Rape and molestation in dis country, no day without a case of rape in nigeria, even ppl have started having sex with goat and chicken.

Nobody can be trusted with a child again, if father could be so mad to sleep with he's own daughter

Op! Dis one of the best place to eat, they serve u like a king