alsudan:

If Nigerians suffer do them, they know what to do.

nairalanda1:


Maybe, but the problem with the oil sector always has been selling petrol below what it costs to make it, or what it costs to import it.

Subsidizing petrol is a very expensive thing. That's the real reason why protests don't work. Even the famous 2012 protests did not work because at the end fuel prices still rose... because subsidy costs in 2011 were thrice that in 2010. If GEJ had not removed subsidy partially, by 2014 he would have been using the entire budget to pay for subsidy. And, that is not funny.

Even if we protested now, and tinubu listened and set prices at 100 naira, subsidy costs would exceed 1000 per liter. Over 70% of our budget would go to paying subsidy. The resultant deficit would need loans to cover. More loans. Already the subsidy we have now is forcing govt to take more loans.

Not everything is tribe. If obi was president today, the same issue would be there.


All in all, you sell at a loss, problems start. In 1984 government was forcing people to sell sugar , milk and bread at knock down price to help the poor. Result, people selling could not make a profit to buy new stock, scarcity resulted. We don't have that today because subsequent governments did not repeat that mistake

Quest7777:

Protests is not a Solution, but it's an indication that there are serious issues that need to be addressed by Govt.

The problems of Nigeria are beyond Obi or any single individual, as long as Tribal, Religious and Sectional interests are prioritised over National Interests.
Apart from those who believe Obi would have made a better President (arguable), the clamour for Obi was for Sectional interests - to give S/East sense of inclusiveness in National affairs.

Agreed, prices of goods & services in a free Capitalist Economy ought to be determined by forces of Demand & Supply, but the consequences in Nigeria would be dire for a commodity like Fuel.

But fundamentally, Nigerians owe far greater allegiance to their Ethnicity than Nationality, and are not ready to unite to build a Nation.

I rest my case.

Quest7777:

Protests is not a Solution, but it's an indication that there are serious issues that need to be addressed by Govt.

The problems of Nigeria are beyond Obi or any single individual, as long as Tribal, Religious and Sectional interests are prioritised over National Interests.
Apart from those who believe Obi would have made a better President (arguable), the clamour for Obi was for Sectional interests - to give S/East sense of inclusiveness in National affairs.

Agreed, prices of goods & services in a free Capitalist Economy ought to be determined by forces of Demand & Supply, but the consequences in Nigeria would be dire for a commodity like Fuel.

But fundamentally, Nigerians owe far greater allegiance to their Ethnicity than Nationality, and are not ready to unite to build a Nation.

I rest my case.

nairalanda1:


Has nothing to do with triblaism and everything to do with running away from the reality of capitalism

You sell something at 720 that cost you 1000 naira to bring in, and you don't expect there to be issues?

nairalanda1:


Has nothing to do with triblaism and everything to do with running away from the reality of capitalism

You sell something at 720 that cost you 1000 naira to bring in, and you don't expect there to be issues?

Quest7777:
This country is heading for doom.

The fundamental problem is that Ethnic, Religious and other Sectional interests are placed ahead of National interests.

Imagine Tinubu creating Ministry of Cow Development.

Quest7777:
This country is heading for doom.

The fundamental problem is that Ethnic, Religious and other Sectional interests are placed ahead of National interests.

Imagine Tinubu creating Ministry of Cow Development.

how many countries are using tankers to supply PMS or supply AGO; it is not done. Naturally, what is done is the use of pipelines, and in some cases, they use rails.

nairalanda1:


(1) Subsidizing petrol is a very expensive thing. That's the real reason why protests don't work. Even the famous 2012 protests did not work because at the end fuel prices still rose... because subsidy costs in 2011 were thrice that in 2010. If GEJ had not removed subsidy partially, by 2014 he would have been using the entire budget to pay for subsidy. And, that is not funny.

Even if we protested now, and tinubu listened and set prices at 100 naira, subsidy costs would exceed 1000 per liter. Over 70% of our budget would go to paying subsidy. The resultant deficit would need loans to cover. More loans. Already the subsidy we have now is forcing govt to take more loans.

(2) Not everything is tribe. If obi was president today, the same issue would be there.


(3) All in all, you sell at a loss, problems start. In 1984 government was forcing people to sell sugar , milk and bread at knock down price to help the poor. Result, people selling could not make a profit to buy new stock, scarcity resulted. We don't have that today because subsequent governments did not repeat that mistake

Quest7777:
This country is heading for doom.

The fundamental problem is that Ethnic, Religious and other Sectional interests are placed ahead of National interests.

Imagine Tinubu creating Ministry of Cow Development.

Snake001:
Hehehe

With wetin dey happen now, Tinubu can only get my vote in 2027 if he kills that bleached albino monkey father of mine

E be like say this country now big pass wetin only one man fit fix ooo.

nairalanda1:


Maybe, but the problem with the oil sector always has been selling petrol below what it costs to make it, or what it costs to import it.

Subsidizing petrol is a very expensive thing. That's the real reason why protests don't work. Even the famous 2012 protests did not work because at the end fuel prices still rose... because subsidy costs in 2011 were thrice that in 2010. If GEJ had not removed subsidy partially, by 2014 he would have been using the entire budget to pay for subsidy. And, that is not funny.

Even if we protested now, and tinubu listened and set prices at 100 naira, subsidy costs would exceed 1000 per liter. Over 70% of our budget would go to paying subsidy. The resultant deficit would need loans to cover. More loans. Already the subsidy we have now is forcing govt to take more loans.

Not everything is tribe. If obi was president today, the same issue would be there.


All in all, you sell at a loss, problems start. In 1984 government was forcing people to sell sugar , milk and bread at knock down price to help the poor. Result, people selling could not make a profit to buy new stock, scarcity resulted. We don't have that today because subsequent governments did not repeat that mistake

nairalanda1:


Maybe, but the problem with the oil sector always has been selling petrol below what it costs to make it, or what it costs to import it.

Subsidizing petrol is a very expensive thing. That's the real reason why protests don't work. Even the famous 2012 protests did not work because at the end fuel prices still rose... because subsidy costs in 2011 were thrice that in 2010. If GEJ had not removed subsidy partially, by 2014 he would have been using the entire budget to pay for subsidy. And, that is not funny.

Even if we protested now, and tinubu listened and set prices at 100 naira, subsidy costs would exceed 1000 per liter. Over 70% of our budget would go to paying subsidy. The resultant deficit would need loans to cover. More loans. Already the subsidy we have now is forcing govt to take more loans.

Not everything is tribe. If obi was president today, the same issue would be there.


All in all, you sell at a loss, problems start. In 1984 government was forcing people to sell sugar , milk and bread at knock down price to help the poor. Result, people selling could not make a profit to buy new stock, scarcity resulted. We don't have that today because subsequent governments did not repeat that mistake

iwaeda:


In the days of Goodluck, Ojota would have been filled, but now they barbed wired the place. At N800, people are queueing to buy, but when you talk they call you names. Anyways, it is favouring me and my family.

Tianamen1:

Crude oil prices account for 67% of the price of petrol.

Between 2010 and 2012, crude oil prices averaged above $100, so petrol prices were also at historic highs.

Presently crude oil prices are about $80 per barrel. Why is the price of petrol in Nigeria at all-time highs?

You are like a doctor trying to cure malaria with Panadol. Until you understand the problem, all your comments are simply generalisations people accept as facts, whereas in reality, add no value whatsoever to solve Nigeria's complex issues.

https://bizfluent.com/how-7571180-calculate-price-crude-oil-price.html
https://www.macrotrends.net/1369/crude-oil-price-history-chart

ps. The price of Gas (petrol) in the United States is slightly less than in 2008.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epmr_pte_nus_dpg&f=m

Omooba77:


It is well.....