Laggafin:

We always quick to call out the telecon sector as a Sucess.. but don't u tink the success is nominal?? Moreso with de deregulation of Diesel and kerosine .. yet the prices of these commodities are still very high

Because we still don't refine them at home

And the reason why is because no one wants to set up a refinery where he or she would refine diesel and kerosene at a profit and refine PMS at a loss. And lose the profits

The same modafuckers that staged protest years ago, when d other ex modafucker talked about subsidy removal...
They said they will make #1=$1
My happiness is that the removal doesn't affect apshit members and supporters ..
When I say Change, you next level of suffering for zombies. Una must get sense by force..

[s]

Ovamboland:


Biden did not introduce fuel subsidy, he only sought to increase oil availability depending on market forces to impact prices.
It doesn't make any economic sense to continue to use 60% and growing of our oil earnings to pay subsidy while stifling private investments and employment in the sector. All other ecowas countries not richer than Nigeria pay market price for fuel and some even have higher HDI than us. Subsidy on fuel has not developed nigeria the way we hoped [/s]

Shattap and quit acting like and pretending that a garri school dropout like you knows what you are saying.. be a good boy and allow educated people with functioning brains comment, thank you very much

itsme01:






Subsidy removal is important but we can't do it now

Primary responsibility of the Government is to see to the welfare of its citizens using any and every means necessary

United States won't mind piling up debt and selling bonds or going to war in the middle East to steal resources as long as American citizens get to enjoy life with best standard of living, enough social benefits and welfare

Already Land borders are closed, Naira are devalued over 200% , there is 2 digit inflation, gas electricity and other utility is at all time high removing subsidies without a local refinery is terrible move


.

Local refineries will be running by the time subsidy is removed, what else?

backbencher:
1.The reason why we had issues in the 1980s was because we had a lack of Forex thanks to the oil price crash of 1982, which is what drove us into SAP in the first place.

2. A big reason why we don't have power and refineries is because both sectors charge subsidised tarrifs meaning they cannot make enough profit to expand, upgrade and improve themselves. ( GSM grew the way it grew because the goverment was not forcing them to sell at a loss in the name of subsidising the sector)

3. Subsidy has to go because the oil revenues aren't enough to fund it . And our tax to gdp ratio is too low to fund it as well. The only way we can find money for subsides is by goverment taxing the 70 percent who don't pay income tax to the federal government due to working in the informal sector.

And doing that is not politically popular in this country because we are all poor apparently.

This is only person addressing real issues so far

backbencher:


Because we still don't refine them at home

And the reason why is because no one wants to set up a refinery where he or she would refine diesel and kerosene at a profit and refine PMS at a loss. And lose the profits

Den it defeats ur argument.. cause u are promoting deregulation / subsidy removal as best economic stimulator .. and I'm telling u dat de diesel) kerosine sector has been derugalated and subsidies removed.. den why is it according to you.. this has not yet attracted investors to make it competitive and bring down the prices

Laggafin:

Den it defeats ur argument.. cause u are promoting deregulation / subsidy removal as best economic stimulator .. and I'm telling u dat de diesel) kerosine sector has been derugalated and subsidies removed.. den why is it according to you.. this has not yet attracted investors to make it competitive and bring down the prices

Well, the thing is, most refineries...refine all sorts of stuff

If you had a big refinery like Dangote, and at the end of the day, made profits from selling diesel and kerosene, but was losing from selling Petrol, and petrol was the thing you produce the most....your profits from diesel and kerosene would be eaten up by the loss from selling subsidized petrol

SO you have two options

1.Build a refinery like BUA's own, which does NOT refine petrol or

2.Get out of the business altogether.

Ovamboland:


Local refineries will be running by the time subsidy is removed, what else?

Which local refinery? Definitely not NNPC or Dangote

backbencher:


Well, the thing is, most refineries...refine all sorts of stuff

If you had a big refinery like Dangote, and at the end of the day, made profits from selling diesel and kerosene, but was losing from selling Petrol, and petrol was the thing you produce the most....your profits from diesel and kerosene would be eaten up by the loss from selling subsidized petrol

SO you have two options

1.Build a refinery like BUA's own, which does NOT refine petrol or

2.Get out of the business altogether.

Ok u suggest the petroleum sector should be fully deregulated so that non of the investors will have dia profits eaten up by any sub petroleum product.. ok fine .. but what in the interim will be the cushion/palliatives given so that citizens won't suffer too much pain before that sector is stabilized after subsidy is removed?

Laggafin:

Ok u suggest the petroleum sector should be fully deregulated so that non of the investors will have dia profits eaten up by any sub petroleum product.. ok fine .. but what in the interim will be the cushion so that citizens won't suffer too much pain before that sector is stabilized after subsidy is removed?

Your government is suggesting N5000 for every poor NIGERIAN for a year.

MY suggestion is N20000 monthly for every car owning Nigerian for a year.

This gentleman has a better idea than both of us

What to do

Based on the fact that the transport grant is unsustainable, and also the difficulty of determining which Nigerians should be eligible for the grant, a better strategy for cushioning the effects of fuel subsidy removal is massive investment in public transportation.

The price of a 56-passenger 2019 luxury bus is about $400,000. So the $3 billion in 2021 fuel subsidies would have purchased 7,500 buses, or about 200 buses for each of the country’s 36 states. This strategy would have more of an impact and be more inclusive than a transport grant that most Nigerians will not receive.

Each state should be encouraged to establish an intra-state transportation agency. The federal government should have a similar agency for inter-state travel. Part of the savings from subsidy removal should be allocated to the state and federal transportation agencies.

They could purchase buses with the fund and cover administrative costs of providing subsidised transport to workers (both formal and informal), farmers, students and other indigent Nigerians.

Using the fuel subsidy savings to support a network of subsidised public transportation in urban and rural areas would boost Nigeria’s productive capacity in various ways.

It would reduce food inflation, as farmers would be able to transport their products to the market more easily and at a lower cost. This would encourage them to produce more and drive down food prices.

Nigeria should learn from the Indian experience, where public transportation subsidies have boosted food supply and lowered food prices.

Nigeria should prioritise investments that raise the economy’s productive capacities, rather than focusing on increasing consumption. Recipients of the transport grant may spend the money on non-durable consumer goods, which could drive inflation, already about 16%. These goods are most likely to be imported, which would strain the country’s scarce foreign exchange.

The provision of subsidised public transport would be good for workers, as it would enable them to spend more on things that increase their productive capacities and contribute to Nigeria’s gross domestic product (GDP).

Nigerian students at all levels of education would benefit from the investment in public transport. Most of them do not receive direct financial support from the government, but subsidising transport would indirectly subsidise their education.

The government would be pacifying students and workers, who are usually the most vociferous in opposing subsidy removal. Previous administrations in Nigeria have jettisoned plans to remove the fuel subsidy, following massive and violent protests against those attempts

.

[quote author=backbencher post=108624508]

So we should keep it and the debt we incur from keeping it?

Removing subsidy is important. Very important. It won't make the economy better in one day, but it would get us refining more and more at home, provide jobs and save more and more ask your self y are the refineries not working,if the refineries are work ,y wld the country import fuel,subsidy wld just disappear, this is common sense haba

backbencher:


Your government is suggesting N5000 for every poor NIGERIAN for a year.

MY suggestion is N20000 monthly for every car owning Nigerian for a year.

This gentleman has a better idea than both of us

.

Bros I'm a realist.. all this suggestions sound good on paper.. but you and I know our system and the Govts we have seen over the years.. how many of them stay true to promises? I tot buhari will be the one to fully derugalate the petroleum sector wen he first came in cause he cald subsidy a scam in opposition.. but 6 years down his tenure he's still talking of fuel subsidy removal The truth my broda is deris notin like fuel subsidy .. it's just another conduit pipe they want to stage to siphomne money for electioneering 2023.. cuz the lies is very obvious .. they want to replace subsidy amount that is less to a fictitious payment of 5000 naira to 40 million Nigerians that is far much higher than the amount used for subsidy .. lol. We know wat we know.. 2023 should just come asap cause it's obvious dis Govt is on all fronts clueless

crossfire:
ask your self y are the refineries not working,if the refineries are work ,y wld the country import fuel,subsidy wld just disappear, this is common sense haba

The refineries broke down because they were being forced to run at a loss, so that we could have cheap subsidized fuel.

Refineries need to make a profit to run well. Government cut corners, and cut maintenance costs to keep fuel cheap

This led to the refineries breaking down eventually...and why we don't have working government refineries.


To use a good example....Venezuela sells fuel at N40 a liter, and has been doing so for decades...meanwhile their largest refinery went from refining 900000 barrels a day to 100000 barrels a day, and they import and import.

Laggafin:

Bros I'm a realist.. all this suggestions sound good on paper.. but you and I know our system and the Govts we have seen over the years.. how many of them stay true to promises? I tot buhari will be the one to fully derugalate the petroleum sector wen he first came in cause he cald subsidy a scam in opposition.. but 6 years down his tenure he's still talking of fuel subsidy removal The truth my broda is deris notin like fuel subsidy .. it's just another conduit pipe they want to stage to siphomne money for electioneering 2023.. cuz the lies is very obvious .. they want to replace subsidy amount that is less to a fictitious payment of 5000 naira to 40 million Nigerians that is far much higher than the amount used for subsidy .. lol. We know wat we know.. 2023 should just come asap cause it's obvious dis Govt is on all fronts clueless

That's because most of us don't want to do the hard work of holding government to account.

Democracy is more than voting and being voted for.

backbencher:


Your government is suggesting N5000 for every poor NIGERIAN for a year.

MY suggestion is N20000 monthly for every car owning Nigerian for a year.

This gentleman has a better idea than both of us

.

I have a simple puzzle for u.. and if u solve it .. then you have the answers to what is going on.. the question is
* A Govt is paying an alleged amount of subsidy for 200 million Nigerians .. and suddenly wants to replace the subsidy for a much higher amount for only 40 million Nigerians ??
The question is why substitute a less amount of subsidy paid for 200 million Nigerians for a much higher cushion amount for only a fragment of 40 million Nigerians that they don't even have accurate data for.... And den wat happens to the rest 160 million Nigerians not captured in the new intervention?? If u answer this question.. den u know exactly what this Govt is up to

Laggafin:

I have a simple puzzle for u.. and if u solve it .. then you have the answers to what is going on.. the question is
* A Govt is paying an alleged amount of subsidy for 200 million Nigerians .. and suddenly wants to replace the subsidy for a much higher amount for only 40 million Nigerians ??
The question is why substitute a less amount of subsidy paid for 200 million Nigerians for a much higher cushion amount for only a fragment of 40 million Nigerians that they don't even have accurate data for.... And den wat happens to the rest 160 million Nigerians not captured in the new intervention?? If u answer this question.. den u know exactly what this Govt is up to

Ask your government.

I have already told you my idea, and the idea that others have thought about. I don't support BUbu's N5000 idea .

backbencher:
1.The reason why we had issues in the 1980s was because we had a lack of Forex thanks to the oil price crash of 1982, which is what drove us into SAP in the first place.

2. A big reason why we don't have power and refineries is because both sectors charge subsidised tarrifs meaning they cannot make enough profit to expand, upgrade and improve themselves. ( GSM grew the way it grew because the goverment was not forcing them to sell at a loss in the name of subsidising the sector)

3. Subsidy has to go because the oil revenues aren't enough to fund it . And our tax to gdp ratio is too low to fund it as well. The only way we can find money for subsides is by goverment taxing the 70 percent who don't pay income tax to the federal government due to working in the informal sector.

And doing that is not politically popular in this country because we are all poor apparently.

Gsm grew because people enjoyed the services and the expansion was done not by consumers but by investors.
Today consumers so everything in Nigeria when it comes to power, we buy poles, buy cables, pay for connections and even pay for maintenance of faulty transformers and also pay for light bills..
No matter how u will see subsidy as evil, it is necxessary evil that musnt be do away with.
It benefits more than 200million nigerians compare to what willl happen if it is removed.

poiZon:

Gsm grew because people enjoyed the services and the expansion was done not by consumers but by investors.
Today consumers so everything in Nigeria when it comes to power, we buy poles, buy cables, pay for connections and even pay for maintenance of faulty transformers and also pay for light bills..
No matter how u will see subsidy as evil, it is necxessary evil that musnt be do away with.
It benefits more than 200million nigerians compare to what willl happen if it is removed.

And investors came because government was not forcing MTN to charge one naira per phone call made regardless of the minutes spent making the call, in the name of making phone calls cheap for NIgerians

Neither was government forcing people selling phones to sell their phones, regardless of the make, and cost of importing the phone , at N500 so as to make phones cheap for NIgerians.

Subsidy is evil. If GEJ and Buhari and Obasanjo think it is evil, who am I.?

If you want money for subsidy, then take over government, and bring a tax for every Nigerian, including herdsmen and farmers. A flat tax of 10% of monthly income (rises to 20% or more for richer Nigerians) to fund subsidies...which is how countries with subsides find money for the thing...because that's the only way to find money for subsides that does not involve us borrowing....

backbencher:


So we should keep it and the debt we incur from keeping it?

Removing subsidy is important. Very important. It won't make the economy better in one day, but it would get us refining more and more at home, provide jobs and save more and more money

It is time it went.

Today cement is extremely costly compare to other west african countries.

Has it bring about more investment in that sector?
How many cement factories have come on board since cement price has skyrock?

Removing subsidy and total deregulation of the downstream sector won't bring about any investmemt in that sector.
The world has grown pass crudeoil and petrol, they r talking of renewable energy.

Also it wont stop smuggling either or bunkering, our petrol will still be smuggled n sold in Benin, chad, Cameroon and other neighbouring countries.
The only people that will gain from subsidy removal will be state govts and fed govt cos they will be more monies to share.
They r not even talking of increasing wages of civil servants amidst this subsidy removal.
The palliative they proposed isnt even captured in next year budget, who will fund the expenditure?

backbencher:


1. Exchange rate and value of the naira is affected by subsides because we spend scarce Forex on importing and subsiding fuel. So less Forex means reduced value of naira

2.Removing subsidy means more refineries since it is now profitable to refine at home meaning less importation of refined product.Dangote need not hold a monopoly.

3.Duties, tarrifs and corruption have no link to the subsidy debate.

4.Subsidy is one of the reason why we have external debts so large. We spend an increasing amount of Forex yearly on subsides meaning we end up taking loans to replace the cash spent on subsides.

Subsidy is the amount paid to cover the difference between the cost of refining fuel and the cost of selling I at goverment prices, which are lower than the cost of production or refining fuel.

Because of rising cost of production, the difference between actual.cost and goverment sanctioned price at the pump keeps rising, and thus the subsidy cost.

5. Minimum wage can only rise with rise in goverment revenue which means government has to tax everyone. Including the.poor.

6. You can only refine crude in the country if goverment guarantees you will make a profit doing so. Subsidy does not guarantee that. It guarantees you would lose money refining fuel at home ( which is why NNPC refineries collapsed in the first place)

The difference between u n buhari isnt much.
Buhari said subsidy is a scam, yet he came n indulge in the scam.
U r saying removing subsidy will increase refining capacity, from where please?
Where r the refineriea that r dormant because we r subsidizing fuel?

poiZon:

The difference between u n buhari isnt much

That shows you don't get my point at all.

Buhari said subsidy is a scam, yet he came n indulge in the scam

Because when he made that comment he did not understand how subsidies worked and why they were bad. He made a comment to get voted in and take advantage of people's anger with GEJ about removing subsidies.

THe above is why I don't like Nigerian politicians in general. They take advantage of anger to get into power to share money.
.

U r saying removing subsidy will increase refining capacity, from where please?
Where r the refineries that r dormant because we r subsidizing fuel?

We have five private refineries, including Dangote, 20 other active licences waiting, plus NNPC Is fixing 2 of its refineries.

Plus, it is going to be a long term thing. (Sorry, but the truth is bitter.). Once subsidy is gone , people would be incentivized to refine at home since there would be profits, and since fuel won't be sold at a loss in the name of subsidy. FOr the same reason investment in local refineries, both local and foreign would flow in

backbencher:


And investors came because government was not forcing MTN to charge one naira per phone call made regardless of the minutes spent making the call, in the name of making phone calls cheap for NIgerians

Neither was government forcing people selling phones to sell their phones, regardless of the make, and cost of importing the phone , at N500 so as to make phones cheap for NIgerians.

Subsidy is evil. If GEJ and Buhari and Obasanjo think it is evil, who am I.?

If you want money for subsidy, then take over government, and bring a tax for every Nigerian, including herdsmen and farmers. A flat tax of 10% of monthly income (rises to 20% or more for richer Nigerians) to fund subsidies...which is how countries with subsides find money for the thing...because that's the only way to find money for subsides that does not involve us borrowing....

First u know what subsidy means...
Even if they forced mtn to charge at 1naira, it means they will pay for the shortfalls which is subsidy.
The problem we r having with subsidy is the govt isnt sincere and those who suppose to check what is brought in are not doing their work.
How will u explain that between 2015 n today fuel consumption has triple from30m litres daily consumption to 90m litres daily? We r paying subsidy for unconsumed products. Thats where the problem lies, not the subsisy itself.
Now they r proposing to pay 40m nigerians 5k for 1year as paliiatives to cushion the effects of the removal, what happens to the remaining 160million nigerians which more than 90percent r poor?

backbencher:


That shows you don't get my point at all.


Because when he made that comment he did not understand how subsidies worked and why they were bad. He made a comment to get voted in and take advantage of people's anger with GEJ about removing subsidies.

THe above is why I don't like Nigerian politicians in general. They take advantage of anger to get into power to share money.
.


We have five private refineries, including Dangote, 20 other active licences waiting, plus NNPC Is fixing 2 of its refineries.

Plus, it is going to be a long term thing. (Sorry, but the truth is bitter.). Once subsidy is gone , people would be incentivized to refine at home since there would be profits, and since fuel won't be sold at a loss in the name of subsidy. FOr the same reason investment in local refineries, both local and foreign would flow in

How can someone who was a federal minister for petroleum not know how subsidy work?
Bros stop defending buhari unless u r paid to do it.
5private refineries that r dead. Dangote refinery that is still being constructed. We r not sure whether it will be completed next year with the news coming from there.
Over 20 licensed refineries, on paper...
U r not being practical and realistic, religion has made u lose sense of reasoning and focus. So 20 licensed refineries equates 20 refineries?

The turn around maintenance done in pirt harcourt refinery, the funds used in doing it was borrowed from outside source. So where will these 20 licensed investors get funds to build the refineries?
Subsidy never stopped refineries from functioning, it never stopped people from building refineries.
Dangote started building refinery when the govt was still paying subsidy. It didnt deter him from building cos he knew how the market is.
Govt cant force him to sell fuel at 70naira. The least govt will do is over tax his refinery.
He cant buy crude at international market price and sell his product at govt regulated price, it can never happen.
Lets Say we didnt find good investors to invest in that sector.

poiZon:

First u know what subsidy means...
Even if they forced mtn to charge at 1naira, it means they will pay for the shortfalls which is subsidy

.

And at the end of the day, MTN won't be able to operate and give us the servicies they give now, simply because

1.They cannot make a profit...the shortfall only pays for the difference between actual cost of producing the service and the government set price of one naira)

2.The source of money to pay the shortfall is unstable. Oil prices are notoriously unstable and chronically low. They have periods where they are high, then go low, and low and low.

The problem we r having with subsidy is the govt isnt sincere and those who suppose to check what is brought in are not doing their work.
How will u explain that between 2015 n today fuel consumption has triple from30m litres daily consumption to 90m litres daily? We r paying subsidy for unconsumed products. Thats where the problem lies, not the subsisy itself

SImple....subsidized fuel is finding its way to other African countries via smuggling. (Venezuela loses 18 BILLION dollars annually due to the same problem...and they sell fuel at the equivalent of N40 Per liter).

The problem has been there long before BUhari took over...that was one of the reasons why GEJ wanted to remove fuel subsidy.(even as far back as 2012, smuggled fuel was reaching places like Ghana!)

The only way to stop it is by violence...and it won't work.

Then, our populaiton is increasing, power supply is still bad, people need fuel for a host of things...and that means needs go up as well.

Now they r proposing to pay 40m nigerians 5k for 1year as paliiatives to cushion the effects of the removal, what happens to the remaining 160million nigerians which more than 90percent r poor?

The 5000 naira project is a joke, and will not work....there are better ideas like subsidized public transport (which GEJ tried...until fall in oil prices made it unsustainable)

poiZon:

How can someone who was a federal minister for petroleum not know how subsidy work?

Politicians lie. Simple. That's why I never would contemplate voting for Buhari.

Bros stop defending buhari unless u r paid to do it

I don't recall abusing you, so behave yourself please.

5private refineries that r dead. Dangote refinery that is still being constructed. We r not sure whether it will be completed next year with the news coming from there.
Over 20 licensed refineries, on paper...

BUA Is under construction, and there are at least three or four private refineries under construction/near completion. Dangote should be ready next year to start work

PLus the main aim behind subsidy removal is to incentivize more people to come in and take advvantage of the profits to be made in domestic refining that would result.

U r not being practical and realistic, religion has made u lose sense of reasoning and focus. So 20 licensed refineries equates 20 refineries?

Again, I did not abuse you, so why should you abuse me? . Behave yourself please. Thank you.

The turn around maintenance done in pirt harcourt refinery, the funds used in doing it was borrowed from outside source. So where will these 20 licensed investors get funds to build the refineries?
Subsidy never stopped refineries from functioning, it never stopped people from building refineries.

NO profit....no incentive. GEJ Had 3 refineries being planned...till he had his subsidy removal plans frustrated...thus the refineries never did take off..

Dangote started building refinery when the govt was still paying subsidy. It didnt deter him from building cos he knew how the market is

Dangote can afford to build his refinery because the banks were willing to give him loans. And the banks gave him loans because they know that if the thing goes bottom up, they can take over his other lucrative businesses, and get their money back.

Dangote needs subsidy removal, or else he would be out of business...and the banks would be running his businesses for him..

Govt cant force him to sell fuel at 70naira. The least govt will do is over tax his refinery.

KInd of what I want eventually!

NOte: Any abuse on your part again would be reported. I thought we were having a discussion, not a shouting and abuse match.

backbencher:


Politicians lie. Simple. That's why I never would contemplate voting for Buhari.



I don't recall abusing you, so behave yourself please.



BUA Is under construction, and there are at least three or four private refineries under construction/near completion. Dangote should be ready next year to start work

PLus the main aim behind subsidy removal is to incentivize more people to come in and take advvantage of the profits to be made in domestic refining that would result.


Again, I did not abuse you, so why should you abuse me? . Behave yourself please. Thank you.



NO profit....no incentive. GEJ Had 3 refineries being planned...till he had his subsidy removal plans frustrated...thus the refineries never did take off..


Dangote can afford to build his refinery because the banks were willing to give him loans. And the banks gave him loans because they know that if the thing goes bottom up, they can take over his other lucrative businesses, and get their money back.

Dangote needs subsidy removal, or else he would be out of business...and the banks would be running his businesses for him..


KInd of what I want eventually!

NOte: Any abuse on your part again would be reported. I thought we were having a discussion, not a shouting and abuse match.

Main aim of removal is for more money to run govt expenditure.
Nothing more.
Govt dont give loans, banks do
Govt only give grants and palliatives which is free money.

Godfullsam:

I am not against subsidy removal. In fact, it is a welcome development all be it at the very WRONG time.

I am only against those who wants subsidy removed now because they are the same set of people who once criticised it.

People are free to change their minds with new information. We are not slaves to past opinion. If the argument for subsidy removal doesn't make sense to you it's a different case.
If you know it's the right thing to do, and still argue against it merely because of the person now arguing for it had a different opinion almost 10 years ago, then you have a problem

Laggafin:

We always quick to call out the telecon sector as a Sucess.. but don't u tink the success is nominal?? Moreso with de deregulation of Diesel and kerosine .. yet the prices of these commodities are still very high

The prices of Kerosene and Diesel have being being responding to the cost of production. In that guise it is not too high, it is only deregulated. If crude falls to about $30-40 a barrel, diesel will drop to about 200-250 a litre from 350

freeborn02:

But UAE gets rich on the same crude oil. How?

If you give all of Nigerias oil wealth to Lagos island alone, what will the place look like?

backbencher:


UAE has less than 20 million people and produces more oil than we do.

There are just 2m Emiratis and 7m guest workers making total of 9m people.

They sell 3.2m barrels of oil daily while Nigeria sells 1.5m barrels daily, but 200m people feel they should be live like Emiratis on top this small oil.

AfonjaConehead:
[s]

Shattap and quit acting like and pretending that a garri school dropout like you knows what you are saying.. be a good boy and allow educated people with functioning brains comment, thank you very much

Your highest intellectual achievement and contribution to mankind is knowing how to use Seun's quote button and text strikethrough. Come and collect your medal

Laggafin:

Den it defeats ur argument.. cause u are promoting deregulation / subsidy removal as best economic stimulator .. and I'm telling u dat de diesel) kerosine sector has been derugalated and subsidies removed.. den why is it according to you.. this has not yet attracted investors to make it competitive and bring down the prices

Prices can never come down below the cost of production or else the refineries will fail again.

Let's start with the real cost of producing a liter of petrol. A liter of crude oil cost 212 naira. A liter of crude will give you 0.4-0.6 litre of petrol. You will still pay cost of refinery equipment, spare parts, salaries etc. Theres no way deregulation will take prices below 212 naira a liter no matter the business acumen of the producer.

The only way to reduce prices is for crude oil prices to crash significantly