horsepower102:
Where are the protests? Where is #occupy Nigeria.

I always knew Nigerians are hypocrites but the level this fact has been exposed under Buhari’ls administration is beyond belief.

hush15:


Of course I didn't believe but I also believe price shouldn't be more than a hundred if things are done right.

We have the facility, we have the resource, we have the workforce that can make it possible. Our local market consumption alone can sustain this economy if government are judicious in the expenses, even with a few excesses but no, not this governmen but at the end of the day, its the people that suffer the consequences

It's so annoying

COMPAQ:


Even the N100 would be a tall order. The fact that we have oil doesn't mean its free. There is a cost to finding, developing and producing it. There is also the opportunity cost of using it locally. If I am a local crude producer with option of selling to Dangote refinery in Naira and selling internationally in dollars, I will only sell to Dangote if it pays me. The moment it doesn't, I would rather sell internationally.

Therefore the opportunity cost of selling a barrel of crude to Dangote N11,400 ($30*400) is the difference between $30 and the international price of crude, which is $ 43.

Point is Dangote will have to get his crude at near international price and that therefore means it would be very unlikely for petrol to be N100. Even the portion that will come from his own oil fields, which cannot sustain the refinery, won't be at below cost price of producing it.

damofaith:
Ogun, saponna and Sango strike you for defending Buhari

anonimi:


He cannot, and IBB knows why.


www.nairaland.com/attachments/2615370_facebook20150226111711_jpeg0c454a4b9e79b337bde62bca91797926


www.nairaland.com/attachments/2026536_image_jpeg9f360c5ab7736510df54c882e9dbf188

stephanie11:
POLITICSNIGERIA.COM



https://politicsnigeria.com/explainer-what-you-must-know-about-new-petrol-pump-price/

horsepower102:
Where are the protests? Where is #occupy Nigeria.

I always knew Nigerians are hypocrites but the level this fact has been exposed under Buhari’s administration is beyond belief.

AerialMapper:
Much ado over nothing!

A 10 naira increase in fuel only translates to about 600 naira more for a car owner going by an average of 60litre tank capacity assuming you are not like broke ass people like morgstreme who buy quarter tank!

Surely, 600 naira is not worth all these complaints considering during times of scarcity we gladly pay 200-300 naira a litre from the balck market

However we know the tendency of transporters to over-exaggerate the effect of fuel price increases to hike prices disproportionally...and that is where the issue lies!

For the APC members and supporters of this failed government, i really hope you all are paying 87 naira o!!!

laosy:
Buhari oooooo, May you suffer for 600yrs .


The irony is that na we, the citizens dey help you suffer am
You never see anything.
Shebi una want next level and this is it

Damidave1124:
Trying to justify why they are making life hard for those that put them in power.
In my own opinion, this is pure wickedness.

As usual, only the poor will feel the hardship this government is subjecting us to

ImmaculateJOE:
The only thing to note is that Buhari is an Incompetent Buffoon

nairaman66:
In time to come, when you say your name is Buhari, you will be stoned and burnt.

Buhari is an evil being whose modus operandi is to bring poverty and death to the land. This evil man called Buhari successfully scammed/defrauded Nigerians twice!

morgstreme:


Yes...

Like this..

flexd99:
We all knew the price slash was temporal

BTW,
UK used HP probook 6440
4gb RAM
Intel corei5
2gb total graphics memory
55k only!

nairaman66:


No like this!

morgstreme:


Your heros should take us back to where they met fuel;at 16.60k per litre..

And rice at 2350 per bag..

Naira to dollar at 20naira..

Morons everywhere..