₦airaland Forum

The Cankerworm.s are at it again...waiting for the saTANoids to defend their paymasters...

Elose11:
Fuel subsidy is usually resorted to when the price of crude oil in the international market is higher than the consumers can afford. The government then pays the difference between what it's citizens can conveniently pay and the international price. That difference is usually called subsidy. The higher the international price, the more subsidy the government pays. Whereas if the price is lower, the less subsidy is paid.
Mathematically, if the cost of buying refined petroleum product in the international market is N150, and the government decides to reduce the burden on the masses by fixing the price of, say, petrol at N100, the subsidy on petroleum to the government is N50. Now if the price has falling, as we are currently experiencing, to N120, the government may decide to reduce the price of the product for the public or reduce its subsidy payment.
When government in 2011 increase the pump price of petrol to N97, crude oil was selling at between $102 and $115 per barrel. This the government translates to about N 141 per liter of petrol. The government decided to pay the difference of N44 (N141 - N97) as subsidy. Now if the price of crude at the international market has reduced to between $74 and $80 it therefore means the price per liter has also reduced.
This means either the subsidy paid by the government have been completely wiped out, or a massive reduction has occurred. Since we are passing through economic crunch by the reduction in price of crude oil, our main economic stay, the government may not reduce the pump price of petroleum product. Neither will it increase it.
So all the hues and cries by our arm chair critics about an increase in pump price of petrol because of a reduction in the fuel subsidy payment in 2015 budget estimate is neither here nor there. The government may even reduce the pump price of fuel, as Yaradua government did in 2008, when crude oil price crashed at the international market. The price was reduced from N70 to N65.
2015, being election year, I don't see Jonathan increasing the pump price of fuel. There may likely be a reduction.

You have spoken like the way any reasonable Nigerian should talk, apart from if the person involved is clueless like GEJ...But mark my word and keep this for future reference, instead of reducing the pump price, it would surely be increased by the clueless one next year...just wait and see.

simplemach:
Abeg, person go run commot for this APC from this country?

JECBOSS:
Hmm......
This is serious.
APC must be responsible for this mess!

Did you guys even read the article before mentoring APC...you level of bigotry is appalling.

Smh for them...

Smh for my brothers in SS & SE, they have been blinded by their ethnic & religious bigotry to know how clueless this man his, anyway all I can say is....

Am not surprised at all, that's what you get when your 1st, 2nd & 3rd degrees are from the same university. Most of these lecturers have colonize and monopolize the academic structure of our university system, you see a lecturer that spent all his life in a single university, even for post-doc they won't venture to another university, a lot of secrecy exists in our institution, were lecturers tends to cover for themselves, it's one hell of a cult, if not for little disagreements like this...issues like this will never see the light of the day.

Emasel:
you mean ur study permit took 3 weeks?

It must definitely be a visiting visa, study permit tajes nothing less than 45 days nowadays...

extrovert6:
Hello house, thanks for the bountiful information, I ve really learnt a lot .
I'm a postgraduate student of university of Ibadan,
I applied for a conference in the republic, but I applied very late for my visa, i applied on the 14th of this month and the conference starts on the 26th - 28th of this month. Which means I have to leave inveriably on the 25th of November. Someone with experience should tell me the processing period. Also a cousine stands to be sponsoring me , he has about 900k in his account , hope its okay?
Thanks

Honestly, I don't think it will be ready, the time is just to short, but be optimistic, you might just be lucky.

Whao...

More like Alchol poisoning to me...

How much is the cost of the 10KVA inverter with the solar panel + battery + installation. thanks

Endorsed

eleko1:
Abeg,it is too early to invoke/cast curse/spell.May we not see evil*Na beg I beg una ooo*

Thanks Eleko, the guy is just too useless, and thinks he has the monopoly to say rubbish gotta teach him a lesson.

donphiIopus:
Not when your mother die by thunder

Useless monkey

No need to respond to your knee jerk reaction...have spoken and so shall it be.

donphiIopus:
May your days be cut short amin


Idiot

Despite the fact I only express my mind and didn't say anything bad towards you or your master GEJ, and for the fact that I haven't tasted anything this morning may you and your household days but cut short...Ammiinnnn. So be it.

@Op, be careful to who you take your MacBook to for repairs. I also use Mac and it stopped working recently which I think it's the Logic Board, but in your own case, it might be the OS, which one are you using is it Snow Leopard(most common) or Mountain Lion, and beside count the numbers of error tone it's giving at start-up. Let me know this and I'll get back to you. If I didn't reply on time you can send me a PM.

Mr Stealing is not corruption, a Happy Birthday to you, may this be the last birthday you celebrate at our government house.

abaeli:
[Hi house, please is it possible to book for ticket from SA for flight from Naija to SA, am in Nigeria presently, instead of booking here in naija, please help me for this peak period]

There is little difference in the ticket prices even at this peak period, you can try out wakanow.com to compare the ticket prices of different airlines, that will surely help.

MTN are thieves, they charge at 40k/sec

cutieme:
@yinchar,what program are you gonna run there?

It's for my PhD...

Front page things mod...ASAP

Honestly I think an international independent panel of enquiry should be set up to unravel exactly what is going on in the Nigeria Army, who is giving the order and why are they not fighting. How can just 64 gun men sack a whole 3 battalion numbering upto 3000 soldiers from their barracks. This is surely a SHAME, honestly.

Hello house, am glad to inform everybody that I was finally issued my study permit yesterday after 4 solid months and two applications. I'll like to thank everyone that have made this thread informative, you guys are doing a wonderful job...One love my next destination is Bloemfontein.

Splashme:
Nigeria's economic team is rock solid.
They can handle it.

My worry is for states govs plunging their states into huge debts - Lagos, Osun, Imo, Ogun and Kaduna

Didinrin...what are we saying...what is he saying?....smh

SOURCE

Rooneyboy is TESTED and CONFIRMED....So am recommending him as the CHEAPEST DATA RESELLER on Nairaland...

Just bought data from him now, he accepts all mode of payment, card, VTU, airtime transfer, and bank deposit at the same rate.. irrespective of the payment medium. Keep it up.

samflexxy:
Apc will never rest always looking for ways to discredit jonathans admistration

Can't you simply read

The problem actually is not the falling oil prices but the large scale bunkering that's affecting us exporting less than the daily quota, and subsequently affects the yearly projections. I am surprised no one in this forum has condemned the daily-light oil theft/bunkering under Jonadaf.t government, the present government has continued turning a blind eye towards this theft/bunkering, despite awarding huge pipeline securing contracts to Tompolo etc. I personally won't be surprised if efforts are now made to reduce the theft/bunkering of our oil resources.

How much did you buy this supposed iPhone 5

Expecting the Cankerworms, TANoids and Jonathanians to fill this thread with their petty denial and lies....lmao