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Nairaland Forum / Nairaland / General / Politics / Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price (31335 Views)
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Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by VolvoS60(m): 9:34am On Dec 08, 2014 |
BlackTechnology: ^^^ Stick to the topic. I have no idea what you mean by the above statement. 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by VolvoS60(m): 9:39am On Dec 08, 2014 |
Demdem: ^^^ Clearly stated. 2 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Demdem(m): 9:42am On Dec 08, 2014 |
BlackTechnology: Apologies. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by seunot: 10:16am On Dec 08, 2014 |
SOMETHING Is Definitely Wrong With The Psyche Of A Nigeria! When prices of goods or services go up, it barely comes down, it makes one wonder whether we are part of humanity!! Anyway, I thing I know for sure is that WE ARE OUR OWN WORST ENEMY!!! |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Etinosajay(m): 12:45pm On Dec 08, 2014 |
revolt: By your logic, a thief who resigns from stealing in d open, but coerces u to hand it to him, isn't that d same stealing? How by your logic can u prove that subsidy really exists? Because I don't 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 2:14pm On Dec 08, 2014 |
barcanista: Barcanista I want to school you.... You know little about Global Energy business, Now do you know that the real price of petrol per little is NGN 140 while crude is $100, but Gov decided to pay ur NGN 43, now crude is $70 , by simple algebra( as an Engineer) petrol supposed to be sold for NGN 98 , so even if we are refining the crude Gov is subsiding NGN 1.00 ( one naira) for you.... before now dollar to Naira was NGN162 and its now NGN 178, thats an increament of NGN16.... thats a multiple effect of one tenth of the original value( NGN162). so if federal government was selling petrol at 97 Naira It means there is a multiple effect of additional one tenth which is NGN9.7, so if u add this to NGN98 = NGN107.7.... So in all Feg Gov is still subsiding NGN10 per litter for you...... CC: tits , Demdem, revolts, omenka 1 Like 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 2:27pm On Dec 08, 2014 |
Etinosajay:as long as nnpc(fg) is involved in paying the marketers, there's a subsidy. Why can't the marketers like every other good sell directly to consumers, why must fg buy 1st and resell. You don't even know how the system works do you? Thts da probs wif u guys. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 2:40pm On Dec 08, 2014 |
adconline:I don't remba any marketer claiming they import from newyork and pls hw can refining cost be constant, are all tax rate and derivates, same in all economies.. Hmm na wa. O |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 2:54pm On Dec 08, 2014 |
majekdom2:so how do u propose to stop these cabals? Bearing in mind they're operating with legitimate licences.. U suggest govt keeps paying them ryt? because u guys want subsidized fuel. Na wa. O |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 3:01pm On Dec 08, 2014 |
revolt:No , I dont want the govt to keep paying them because there was no subsidy in the first place . we all know how likes of obat , jimoh ibrahim " fleet oil " and loads of them turned bigger millionaires because of this subsidy stuff.In all truth and transperency , an end can come to all these if our refineries can function ,I know you may say it will be delayed , there is no cause for delay if not because of this same corruption we talking and so it takes a true govt which is ready to operate in truth and accountability to do this. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 3:03pm On Dec 08, 2014 |
synergycom19:well he reduced but u blinded urself to one fact!! The subsidy payments tripled. That was a lousy policy, tht was politically motivated to mke him look like servant leader...go and stuidy tht sector n get the facts and stop arguing like a market woman!! Hearsays. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 3:15pm On Dec 08, 2014 |
aperture11:is the black race this unbrilliant? Okay let's illustrate like ure in primary school. Your country doesn't produce pmc, your govt licences som ppl to go import from countries that produce. Can you tell me how ur govt will control the price from the overseas refineries? If u were the ceo of tht oversea refinery wd u reduce ur price to ur nigerian customers... My guess is no. So what's the solution? Let's see if u can think. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 3:19pm On Dec 08, 2014 |
majekdom2:ure govt cudnt successfully run a courier coy, ie carry letters from lagos to ogunstate, and you're hoping they operate a refinery. List the sectors that are most successful in nigeria( telecoms, banking, it, paid Tv.transportation) how many are controlled by govt. Have u heard of federal xter, quota system etc..go read my guy 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 3:20pm On Dec 08, 2014 |
kaycid77:you are just too quick to type. Next time you comprehend before rushing. Before now, government was subsidizing petrol at the rate of N43.00. With the drop in the price of crude to $70, and putting the N16 decrease in the value of the naira into consederation, the real price of pms now becomes N107.70 per liter. If the populace are to still be buying petrol at N97/litre, it means government only spends N10 per litre on subsidy, hence, she is to return the balance of N14 per every litre to the treasury representing 59% that it has appropriated for the subsidy bills. The simply means that 59% of the money appropriated for subsidy(in 2014 budget) since the fall of the oil price must be returned to the treasury and used for other capital projects. If the government insists not to return the money, then it is justifiable that the pump price be reviwed downward. This isn't a complex economics. 4 Likes |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 4:28pm On Dec 08, 2014 |
revolt:where did you read in my post I said the government should run refineries . I said only an accountble govt will be ready to privatise the refineries , read again ? |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Bayswater: 8:49pm On Dec 08, 2014 |
deeflamez: How much was it in October and how much is a litre now? I mean in Canada and usa |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Bayswater: 8:52pm On Dec 08, 2014 |
xandy84: By how much please? Remember, the price of crude oil fell by 40%. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 9:49pm On Dec 08, 2014 |
t majekdom2:but gejs govt wanted to remove the subsidy whch is a prerequisite for deregulation and privatisation, so he was ready to privatise the sector una say no |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 9:54pm On Dec 08, 2014 |
revolt:it was partially removed and we were told we would see changes in 4 years according to the economist so revolt:it was partially removed and we were told we would see changes in 4 years according to the economist so what do you expect Nigerians to do now . isnt it same scam. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Walspring: 11:41pm On Dec 08, 2014 |
Why can't we Nigerians strike and shutdown the whole nation simply by telling the FG to repair or build refineries within a year.. Maybe we never believe that this can work because our leaders are thieves If FG cant FG to repair or build refineries within a year that means they are stealing from us.. I can imagine 98% of Nigerians stealing from each other, Although you might not believe this.. 1 Like 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by revolt(m): 7:44am On Dec 09, 2014 |
majekdom2:whether its partially removed, doesn't make a diff. If you must know, they've been partially removing it since mid 80s. Take it off let's bear the consequences now so our children dnt suffer. Its like a farmer tryna protect his farm from wolves then he partially builds a fence. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by espn(m): 7:51am On Dec 09, 2014 |
nonen:another question for u sir.. when yar adua reduced d price of petrol during his regime. What was d exchange rate between Naira and Dollar den? We know d Naira has never bin strong against d Dollar..it is always falling..so am confused. Please explain sir.. cos I also studied economics frm d prestigious university of ilorin. Teach me what I dint learn in school. 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Adminisher: 7:58am On Dec 09, 2014 |
kaycid77: Please redo this calculation for crude oil at $60 a barrel and tell the govt to reduce the pump price. I have always believed the devaluation of the naira was an attempt to take the subsidy money through the back door since that is where the nigeria spends an unbelievable amount of naira (N1.7 trillion in 2012) but the price is going to fall lower so govt should give back the money. 1 Like 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by obi2012: 10:02am On Dec 09, 2014 |
gas prices in the US dropped by almost 40 percent.. Nigeria needs to simplify its supply chain. There is no reason why nigeria should be subsidizing or importing refined crude oil.. all this form of trickery is put in place to confuse the masses so they wont be able to trace where money is being eaten.. if theres was no subsidy and crude was being refined in nigeria, there is no reason why the prices of petrol at the pump should not have dropped as the cost of crude dropped per barrel. Even in the case where we are importing refined crude, the cost of refined crude has dropped everywhere else so we should be importing at a lower price since people in the US are seeing refined crude at less prices. Importing at a lower price should translate to lower prices for the average nigerian at the gas station. So its either the government is playing tricks as usual or the petroleum marketers are making a lot of money off our stupidity because there is no way they are still buying refined crude at the same rate they were buying it when it was $115/barrel Bayswater: 1 Like 1 Share |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Nobody: 3:57am On Dec 10, 2014 |
I strongly suggest you leave ur old illogical english and embrace more reasonable non-conventional language usage. What exactly is d essence of communication if I'm confused by wat u are saying to me? Simply put, it makes better sense to say u cnt eat it and have it too, u must agree: http://en.m.wikipedia.org/wiki/You_can%27t_have_your_cake_and_eat_it more: http://www.urbandictionary.com/define.php?term=you+can%27t+have+your+cake+and+eat+it+too and: http://public.wsu.edu/~brians/errors/eatcake.html also: http://english.stackexchange.com/questions/156203/you-can-t-have-your-cake-and-eat-it-too Bottomline; it is not enough for u to be told it is so without u attempting to critic it. |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by suremanpatriot: 9:48pm On Dec 12, 2014 |
So who titled this thread,wht do u mean by Gov. BRF ignorantly seeks oil price reduction...? It is simple secondary sch econs,let me enlighten u domestic fuel price was fixed based on international benchmark pricing. Thus if the price crashes by x% u reduce Nigeria's pump price by same x%,afterall when oil price appreciate to surplus they begin to use diversionary move to say for SURE-P. It is unacceptable. 1 Like |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by Image123(m): 3:44pm On Dec 30, 2015 |
Singgggggggg Fashola, since you don't sign then sing. lol |
Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by kYjelly2: 11:55am On Dec 05, 2017 |
Where is Fashola Now? Oil price today is even less, at %57, yet pump price is N145. |
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