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Nairaland Forum / Nairaland / General / Politics / Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price (31137 Views)
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Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by olillywales(m): 8:21am On Dec 07, 2014 |
Governor of Lagos State, Babatunde Fashola has questioned the Federal Government’s reluctance to cut pump price of Premium Motor Spirit (Petrol) from N97 per litre following the fall in the global oil price.www.metronaija.com/governor-fashola-urges-federal-government-to-cut-petrol-pump-price/ http://leadership.ng/business/393416/falling-oil-prices-fashola-asks-fg-cut-pump-price 27 Likes 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by GboyegaD(m): 8:28am On Dec 07, 2014 |
That is the bad side of our country. Everyone in the name of maximizing profits try to exploit others. We don't need a Fashola to announce before NUPENG and other unions suggest same. 34 Likes 2 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Crocz(m): 8:39am On Dec 07, 2014 |
He absolutely right....Nigerians are just insensitive to situations like this, we should be buying petrol less now But the government can't afford to do that cos the revenue will go down low even more...so when people protest it, they'll just say they are implementing full subsidy removal and in the end, it won't matter 20 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Generalkorex(m): 8:40am On Dec 07, 2014 |
Naija o 2 Likes 2 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by nonen(m): 8:52am On Dec 07, 2014 |
Yea. Fashola has the local logic correct. However there's an expected increase in fuel pump price due to the dollar-naira exchange rate disparity. Since the naira is losing weight against the dollars, the importers will have to pay more to import the product. Fashola logic would have worked only if we refine the crude here. 95 Likes 12 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by jmaine: 8:55am On Dec 07, 2014 |
nonen: Thank you . . . . . . . . 59 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by eunisam: 8:55am On Dec 07, 2014 |
The govenment has a way of doing things right.wait till January before you complain 5 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by fadamekus(m): 9:00am On Dec 07, 2014 |
Ok 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by chiefinalowo: 9:00am On Dec 07, 2014 |
Tanzania has just cut petrol pump price. I don't think Tanzania has a drop of oil and gas. There is need for President GEJ to do the needful. 68 Likes 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Youngzedd(m): 9:03am On Dec 07, 2014 |
I thought about that too. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by saintopus(m): 9:05am On Dec 07, 2014 |
If subsidy was removed, we would have been enjoying the drop in oil prices. But the issue is that, when the government go ahead with that plan, Lagosians will "occupy Ojota for six months ". You cannot eat your cake and have it. 39 Likes 2 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:08am On Dec 07, 2014 |
nonen:Well said, the fall of the naira have cancelled our gains but we might have to do more calculations, how many litres do they get from a barrel of crude. Is 30 nairs increase on the dollar enough to cancel out $40 saving on falling crude? I don't think so. CC. Jmaine, Barcarnista, CFCfan, BlackTechnology datolee. 11 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:09am On Dec 07, 2014 |
Isn't this the best time to remove their phantom subsidy? 4 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by DaBullIT(m): 9:15am On Dec 07, 2014 |
Now that the price per barrel for crude oil has reduced , do we have to start an international campaign before nupeng and co realizes price per liter should also reduce in Nigeria [size=18pt] #CutdownPriceperLitre[/size] 3 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by chemali: 9:16am On Dec 07, 2014 |
Obiagelli: This is the best time to remove the subsidy. Instead, we are told the subsidy would be halved next year to 450 billion (I don't know who they are deceiving). The system itself is messed up. Even if the price of petrol doesn't drop, why is diesel still priced highly? Even though the naira was devalued, there should have been a difference. 3 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by VolvoS60(m): 9:18am On Dec 07, 2014 |
The craziness behind Nigerian government's refusal to fix the refineries or build new ones should now be clear to even its most hardened supporters. Nigerians: The price of crude oil has gone down, non? And so why hasn't the pump price gone down in Nigeria too? Government: The pump price has not gone down because the Naira has fallen against the dollar and we are importing the fuel which is sold at Nigerian petrol stations. Nigerians: Would it not make more sense to fix our refineries and build new ones so that we will not be affected by exchange rate fluctuations? After all, the crude oil is under Nigerian soil and it would be cheaper to drill and refine locally than to import, non? Government: ![]() ![]() ![]() Nigerians: ![]() 59 Likes 6 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 9:24am On Dec 07, 2014 |
Crocz:once more lemme ppl again!! It doesn't affect the price cos were importing and not producing bulk of it. Only way we can start producing is deregulation n total govt handsoff the sector. Capitalism is our christ for now. Subsidy must go or our children will still be facing same issue 60yrs from now. 3 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by fkaz(m): 9:24am On Dec 07, 2014 |
Governor Fashola reawaken nigerians mind of their privilege again, okonjo will not be quick to take action since it is going to benefit the poor. Jonathan government is purely anti-poor WE NEED BUHARI/FASHOLA iN 2015 26 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:27am On Dec 07, 2014 |
chemali:A lot of difference by my own calculations. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by fkaz(m): 9:27am On Dec 07, 2014 |
. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Bayswater: 9:30am On Dec 07, 2014 |
That's Fashola playing to the gallery again saying rubbish under the pretence of not being an economist. He has economic advisers, he could have sought their advise before displaying his hypocrisy. That a barrel of oil is now $65 does not mean the cost of producing it or bringing it to the pump will change. Pump price has not been reduced in the UK, usa and across Europe. His attempt at using a bushmeat seller's logic has failed woefully. Even if we refine the crude oil here, the cost if producing a barrel of oil would still be more than $65 per barrel. Even the average cost of producing the shale which people consider cheaper, is above $70 per barrel. As long as we don't refine crude here, it would take months for us to see reduction in pump prices. Our greedy oil marketers too will not allow us feel the positive impact even when they start getting oil at reduced prices, they would want to maximise their profit. 15 Likes 4 Shares |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 9:32am On Dec 07, 2014 |
Obiagelli:oga whoever is importing diesel will not reduce his price, cos it profitable. If we were refining then wed hve a case but infact, its even more expensive to import now with devaluation of naira. The subsidy must go 2 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Crocz(m): 9:36am On Dec 07, 2014 |
revolt: Exactly why the price should be less by logic, well maybe the devaluation of Naira somehow affect the price. But depending on if we are buying refined product or trading with crude, if later the price should be that globally |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by VolvoS60(m): 9:37am On Dec 07, 2014 |
Bayswater: ^^^ I challenge you to prove this. 3 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by fkaz(m): 9:37am On Dec 07, 2014 |
post=28662963: How much are they paying for subside now, that oil has drop? Nigerians need another protest for government to bring down fuel price 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:38am On Dec 07, 2014 |
revolt:The lazy way out is subsidy most go. Sensible countries will refine and export finished products. 3 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by donmalcolm21(m): 9:41am On Dec 07, 2014 |
nonen:Good answer, waiting for barcanista to come and counter it with his own black market analysis |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Crocz(m): 9:41am On Dec 07, 2014 |
Bayswater: Dude with all this you long thing, you didn't tell us why the price shouldn't be less...cos for me,if the price of your chief input in production falls considerably, the price of the commodity should too regardless of the marketing and other costs! 20 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:46am On Dec 07, 2014 |
Bayswater:You have no idea what you are talking about, did you say shale oil is cheap? 17 Likes 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 10:01am On Dec 07, 2014 |
nonen:What iis the %Change in the Price of the Dollar and what is the %Change in the price of crude oil? My friend this is a very simple economics. At price $100 per barrel, government spends 1trillion on subsidy bills. Naira/Dollar was N165. At price $70 per barrel, government cannot justify spending the same 1 trillion on subsidy bills, despite the devalue of the naira to 178 per dollar. The %Change can never justify it. We have 30% reduction in the price of the crude oil, with a 8% increament in the price of the dollar. The disparity is just glaring. The price of petrol must go down or the appropriation on subsidy must go down should the price of petrol remain constant. 45 Likes 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by chamboy(m): 10:04am On Dec 07, 2014 |
BRF pls Direct this Opinion to ur New Team. Wen u guys take over 2015, u can implement this theory. The Present Government is Glue to political Benefits than the life's of the common citizens 9 Likes |
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