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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries (41078 Views)
Nigeria’s Highest Oil Producing States - NUPRC / FG To Pay Nigerians Transport Allowance After Fuel Subsidy Removal- Zainab Ahmed / Akpabio, Wike And Other Oil-Producing State Governors Meet Buhari (2) (3) (4)
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Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:01pm On Jun 17, 2023 |
nairalanda1:Whichakes it worse because they have to pay commercial transporters who have to earn a living. $0.92 is about N650 so if we compare price of gas, ours is about 77% of theirs. Now compare our minimum wage of N30000 which is about 1.7% of their $2400(1.7m approx.) Omo!! I never mentioned price control in any of my submissions. If you check again, I actually did one rough calculation to show you that at N200/litre they can make a very decent profit provided they reduce corruption to its barest minimum. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:05pm On Jun 17, 2023 |
nairalanda1:Oh. If you agree that you don't aubsidise 100% of what you import then what have we been arguing about? I've said we should produce locally and eliminate corruption and there'll be no need for subsidy. And the price will still be no where near where it is right now. Lower prices encourage smuggling but severe punishment of offenders will discourage it. Simple na. It's been nice conversing with you anyway. I wish our leaders deliberate on issues half as much. Last last, na our Nigerian prayer we go still pray... It's well! Goodnight 1 Like |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 11:07pm On Jun 17, 2023 |
emorse: Well, you support subsides, and therefore, price controls by extension. Also, fuel cannot be sold for N200. Not when there are taxes, transport costs, etc to be paid. Anyway, we won't know how much it costs to refine fuel here in Nigeria until Dangote releases his costs, as do other refineries here in Nigeria. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 11:08pm On Jun 17, 2023 |
emorse: And I say quite simply that fuel refining is a business, not a NGO giving free stuff Good night to you too. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:11pm On Jun 17, 2023 |
nairalanda1:I showed you a rough calculation though. You never made any reference to it. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:14pm On Jun 17, 2023 |
nairalanda1:It's like you deliberately ignore the parts where I talk about them making decent profits at prices even at much lower prices. I wan dey suspect you this guy. lol It's been a nice conversation by the way. 1 Like |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 11:19pm On Jun 17, 2023 |
emorse: Because you have no right to set prices for businesses...and neither do i. And because you do not know how much it would actually cost to refine a liter of fuel...and neither do i, and until we have that figure, any discussion on the matter is hypothetical. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 11:20pm On Jun 17, 2023 |
emorse: Based on a hypothetical...not on reality. Get the actual figures we will when refining takes off here soon. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by AK481(m): 11:22pm On Jun 17, 2023 |
lexy2014: But the government say it will subsidise transport and fertiliser? If they do, will corruption attack there ? 1 Like |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:26pm On Jun 17, 2023 |
nairalanda1: nairalanda1:This is 2023, use the internet bro. I gave you a link earlier. You can find lots more yourself. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by emorse(m): 11:27pm On Jun 17, 2023 |
AK481:Your question funny but na wetin me and nairalanda1 dey argue since |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by kazyhm(m): 12:25am On Jun 18, 2023 |
nairalanda1: Seun should put total ban on illiterate from writing on Nairaland...... your literacy level is disgusting to say the least. Everything that is advantages to other climes is a curse in Africa.... Nigeria is the headquarters of the brainless citizens of the world......is high population not an advantage in America, China, Indian etc.......why is it a negative factor in Nigeria? |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by kazyhm(m): 12:40am On Jun 18, 2023 |
nairalanda1: Rather, if you sold 10 tubers of yam at #1000 and then buy 1 rap of Pounded yam that weigh 0.1 lb at #500.............this the actual Nigeria oil deal scenario... |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by kazyhm(m): 12:53am On Jun 18, 2023 |
nairalanda1: Subsidy in Nigeria is actually the Dollar to Naira exchange rate...... Price of pms did not increase anywhere....but the naira is losing value against the dollar....hence the increments in subsidy..... You don't actually understand economics........stop embarrassing yourself in public. Dangote refinary is a private business, it is set up for profit.......and profit, shareholders, foreign partners and debt services shall be the basis for the company policy.......not Nigeria predicament.....which a choice anyway. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by kazyhm(m): 1:26am On Jun 18, 2023 |
nairalanda1: Nigeria know how much fuel is......since 1967..... Use Kerosene and Diesel as a reference not GSM........Nigeria government killed Nitel for a foreign private company that extorted and is still extorting her citizen as we speak........the sad aspect is that South Africa won't oblige any foreign private company such.... They Bastardized NEPA before dashing it out in the name privatization to private individual that jettison the terms of the deal one of which is prepaid metering......and yet for how many years now, nothing has changed....in the power sector Dangote refinary is the same scenario......you earlier asserted that subsidy payment is what deprived the Nigeria nation the initiative to build refinaries....the same government invested an amount that; if you add some money, would build new refinary into Dangote refinary, and in addition still lend him money for the project....... Dangote refinary is a already monopoly.....I pray he won't hold the country to ransom. I can go on and on |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by Truthday: 1:28am On Jun 18, 2023 |
ijustdey: Woow you did a lot of work here kudos |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by Truthday: 1:30am On Jun 18, 2023 |
LadyExcellency: Nigeria do not have institutions, that's the best solution for now. Institutional reforms can take longer time |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by gare(f): 4:22am On Jun 18, 2023 |
ijustdey: Is that the only thing they can compare with those countries. in those countries, see below list of other things they should aslo put in place if they want us to pay for petrol at same price 1. Regular Power Supply:Citizens dont run Generators like we do in Nigeria, because theres regular power supply, I have in my house 3 Gen Set, do you know the cost of the gen set and the regular purchase of petrol to make sure i have power at home. 2. Good Transportation system: Good Bus and taxi system, Trains, in thise countries not everyone do have cars and even if they do sometimes they use the public transport because the system is good. 3. Good Infrastructures and many more. When you have above things in place the some people may not even see the need to buy petrol because theres always an alternative, stop comparing prices everyday. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by lexy2014: 6:53am On Jun 18, 2023 |
AK481: According to the nigerian economic theory of Subsidy and corruption, anywhere there is subsidy there is corruption. Anywhere subsisdy is removed, corruption stops. Therefore, if the government subsidies transportation and fertilizer, corruption will attack there |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by cardoctor(m): 7:02am On Jun 18, 2023 |
Venezuela N2 per liter. Hmmmm |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by Yjjsjjsj: 7:43am On Jun 18, 2023 |
. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by Azuwonder(m): 8:05am On Jun 18, 2023 |
nairalanda1: This is highly false. Go try smuggle fuel for Saudi Arabia then see the nature of the things your body go collect. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 8:08am On Jun 18, 2023 |
Azuwonder: I wish it was false But apart from Saudi, Libya, Angola and Venezuela as well as Iran all have smuggling issues. I even have a post on the matter with links Check me profile |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by AK481(m): 1:03pm On Jun 18, 2023 |
lexy2014: If the government is a full capitalist state and no social function, why do you need a government to redistribute wealth? |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by AK481(m): 1:04pm On Jun 18, 2023 |
emorse: My brother ,they always drop common sense in the ocean when arguing . |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by lexy2014: 1:29pm On Jun 18, 2023 |
AK481: Whats the relationship between the above and my post? |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 1:42pm On Jun 18, 2023 |
This subsidy thing brings out the argument in people. |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by AK481(m): 2:32pm On Jun 18, 2023 |
lexy2014: Hmmm |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by 9jahotblog: 5:26pm On Jun 18, 2023 |
nairalanda1:same way it happened in Nigeria too |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by 9jahotblog: 5:27pm On Jun 18, 2023 |
Balogunodua:you don’t know what’s going on in 🇻🇪. If they give you the visa of Venezuela 🇻🇪, you will port to that place without coming back to Nigeria |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 5:28pm On Jun 18, 2023 |
9jahotblog: It is called Dutch disease. Ours is a bit better because we still produce some things. Venezuela imports everything. Still both Nigeria and Venezuela are broke nations because Dutch disease Venezuela is just Nigeria if it was a Latin American nation |
Re: Fuel Subsidy Removal: Cost Of Living, Petrol Rates In Oil Producing Countries by nairalanda1(m): 5:38pm On Jun 18, 2023 |
9jahotblog: You would just be porting to a slightly worse version of Nigeria Infact hundreds of thousands of Venezuelans are japaing well well. US dollar is basically the main currency there |
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