This news is unbelievable!!!!!! To say I'm shocked, is to say the least.

Any way.... We voted them d dx x wat they re doing to us.... Tomorrow x another day

Today is apparently a very bad day for Nigerians. However, the immediate effect on salary earners can be mitigated by a proportionate and immediate increase in the Minimum Wage and timely development of all State infrastructure and provision of stable power nationwide.

Guliver:
well I am speechless. if d fuel will b available, no problem.wat am I saying self,Ogun kill buhari,thunder fire him left yansh

ur father, and God bless pmb for increasing pms

Tam David West, where art thou? Oya o. Come and reduce fuel price to N45, abeg.

Was this not the same price GEJ put the fuel price when he removed fuel subsidy?

My people leadership in Nigeria is not moi-moi o.

SamuelAnyawu:
I don't support its removal even though I know it's the right thing.. GEJ saw the massive looting through subsidy and decided to remove it in 2012, But Baba Tinubu and his APC Zombies protested at Ojota and other states in Nigeria....

GEJ We Miss you

Any other Candidate aside GEJ in 2019 remains an exercise in futility PDP take Note.

There was no APC in 2012. Apc was formed in 2013. Enough of these lies u guys keep spreading!

One thing I don't understand about Nigeria is that we too like to suffer ourselves. Why make FOREX scarce? Importers will have to source dollar from black market for what? All these things is to suffer ourselves. Anyway, this is not the end; it is just the begining.

NYSC

Now your suffering Continues

NOT AT THIS TIME ... HABA

Ameko4ever:
FUEL SUBSIDY: TO OUR VOMIT, WE HAVE RETURNED
On January 1, 2012, that is FIFTY-TWO MONTHS AND TEN DAYS ago, a certain Goodluck Jonathan, having the misfortune of being president of this geographical contraption called Nigeria, removed subsidy on premium motor spirit and the country went into turmoil and conflagration, literally.

Today, a certain Mohammadu Buhari, the man who inherited the misfortune, after dilly-dallying for months has done same. After months of pain, anguish and billions lost to social and economic dislocation, the president has done the RIGHT thing.

The difference, however, is that while the nation was brought to her knees in 2012, she won't this time. There won't be a total shutdown of the country. NLC won't call for strike. Human and civil rights activists won't occupy Ojota. Pastor Tunde Bakare is not likely to lead any protest. In short, Nigerians will gladly accept.

Let me say this: I support removal of fuel subsidy. Fully. But why should we allow naked politics to make us waste FOUR years in the nation's economic life? Why did we oppose this thing then when many of those who opposed it knew it was the right thing to do? Can those who congregated in Ojota in 2012 cover their faces in shame? If they support subsidy now, can they justify opposition to it in 2012? Are we aware that fuel could have been selling as low as N50 per litre now? Are we aware that the N145 limit set now by NNPC was the same that was set in 2012?

I can go on. Those who led opposition against removal of subsidy in 2012; a president who once said he did not believe there was anything called subsidy, politicians who capitalised on it four years ago will be justifying it in the days to come. Same Facebook activists who raked against it will be explaining to us why it was the best thing to do. Truly, they are right. But at what cost to this nation?

I am afraid. This nation might never be great again. I am not placing a curse but plainly being realistic!

They can never and should never cover their faces in shame.

Crude was sold for an average on 113 usd per barrel, and the exchange rate was 162 naira to a dollar then.

Today crude is sold below 40 usd per barrel, and a dollar is 199 naira to a USD.

Now that is a huge difference. In b/w fuel was increased from 65 naira to a whooping 141 naira then, the Nigerians protests forced it down to 97 naira.

The timing also made it more damning, waking up on a new year to hear such an horrible news.

Yaradua met it at 70naira and was able to drop it to 65naira whilst paying subsidy.

There is a very big difference!!!!!

Vacancy!!! PROTESTERS NEEDED! Are you an experienced protester? Did you protest during the anti- fuel-subsidy-removal or anti- subsidy-fuel-removal at Ojota? Do you know how to blame GEJ? Can you lie like Lai Mohammed? Then this job is for you! Resume at Gani Fawehinmi Park, Ojota tomorrow by 7am. Great musicians like Fela, Dagrin, Vic O etc will be there to thrill the audience. Why are we protesting? PMS is now N145. What do we want? #BringBackOurSubsidy

I hate Nigeria and PMB so much.

Top bad Nigerians are not the protesting type, now will be a very good time to start a revolution.

P0intBlank:


This is how I think they arrived at N145. If the govt provided forex for these marketers at the official rate then ninety something naira would be possible. However, these marketers would be sourcing for dollars at the parallel market. I don't think it's coincidence that the ratio N320:N197 is almost equal to N145:N86

Let's assume you are right, it's still shy of 140N. So where did the extra 5N come from?

Now considering the fact that the Marketers are only responsible for about 50% of the products, what now happens to the other 50% imported or refined or sourced by NNPC?

That means they'll be making over 45N per litre!!!

Truth be told, the Marketers will not sell @ 145,
Because when NNPC was selling @ 86 they sold for 130.
We should expect them to sell for something close to 200N since NNPC will be dispensing for about 145.





ThefakeStan

The more you look, the less you see. LYING GOVERNMENT

so dis one people are rejoicing that d fuel price is going done, they are planning on increasing it. help us oo God.

JAGINNI YODO! Up GEJ.........DauraDullard failled them. Itsh! I just dey pass ni oooo

[quote author=Quakertellicus1 post=45532662]

Are you also happy that your hero GEJ promised three refineries in 2010....and then broke that promise?

If we had them refineries.....we won't be in this state.[/quote

Yes o. GEJ failure is enof justification for PMB to fail too na. Shaking my head

Quakertellicus1:


First...it isn't the government importing fuel...it is the marketers...the govt gives them dollars at the offical rate to import.(though with falling revenue from oil exports that source is restricted...and marketers have to go parallel).

Second....removing the subsidy might lead to savings to build refineries.

But if you ask me.,.....it is the private investors where it is at.

One more thing....refineries are not built in a year. Even after contracts are awarded...you have to do EIA, pay claims, train staff...etc. And all that takes time.

I have just one question. How sure are we that the subsidy money will be utilized properly. Hope we won't hear another story similar to dasuki gate with our subsidy money.

Buhari is a big liar, he always claimed there is nothing that is called subsidy, even while he was president elect, and now this. Shame on him.

Lawalemi:
I wanna give up on Nigeria

pls Dnt

as bad as it is...they seem to have made all plans. NLC will do nothing. forget that press release. its just for face value

Whick kind yeye talk be this
Even 144 is still beloe 145 so what are they saying.
End time presz release

SamuelAnyawu:
I don't support its removal even though I know it's the right thing.. GEJ saw the massive looting through subsidy and decided to remove it in 2012, But Baba Tinubu and his APC Zombies protested at Ojota and other states in Nigeria....

GEJ We Miss you

Any other Candidate aside GEJ in 2019 remains an exercise in futility PDP take Note.

Illiteracy and lack of democratic principles is the problem of Nigerian leaders.

GEJ is the best President so far. Buhari is just riding on his policies for a year now.

SamuelAnyawu:
I don't support its removal even though I know it's the right thing.. GEJ saw the massive looting through subsidy and decided to remove it in 2012, But Baba Tinubu and his APC Zombies protested at Ojota and other states in Nigeria....

GEJ We Miss you

Any other Candidate aside GEJ in 2019 remains an exercise in futility PDP take Note.

you have to understand that the ineffectual buffoon is gone forever. Not in 2019 not ever

kokaneprodigy:
We keep taking 5 steps forward and 10 steps back, experimenting with the lives of over 170 million people hmmmn.
My question is, has subsidy been removed? Cos i didn't see that clearly stated in that press release. I'll hate to hear subsidy is being paid while we buy at this price.

Where is oga Tom West and Fashola the lawyer that doesn't sign cheques but could calculate how Goodluck should have sold fuel for #40. Hypocrisy everywhere.

NLC and TUC quiet am I missing something?
We really need to be patriotic and stop playing politics with everything.

It's been long I heard SAI BABA though.

sai BABA. no regrets kicking out the buffoon. On a serious note i think deregulation at this point in time is wrong, it ought to come only after the country has reached an appreciable level of local refining capacity

hayzed1090:
......

Refineries are not built in one year.

Keneking:
But where is lalasticlala sef...


Day don break for PPPRA oh -/amazing decision.

Why do you keep mentioning Lalasticlala in all your post. Are you this dull. Smh. spits

Faremisodeeq:
.how much really will the nnpc retailer sell . Please try and give us the actual price

selling it at 144.50 is still below 145. Yeye ANCAIENT PEOPLE OF CORRUPTION (APC)

huntila:
Craze country

Very crazy and silly country. Dangote got forex to invest in another country at official rate and through banks published it but those who intends to serve nigeria's interest couldn't.

hayzee545:
Press Release: PPPRA Second Quarter Price
Modulation


Statutorily enshrined in the PPPRA Act No 8, 2003, is the responsibility to moderate pricing for the Industry. In performing this role, the PPPRA commenced a petroleum products price modulation framework on the 1st of January, 2016, with the aim of ensuring a ‘fit-for-all’ approach that seeks to serve the interest of the Nigerian Consumers, Marketers and the Economy.

In furtherance of its mandate to ensure the efficient supply and distribution of petroleum products, the Petroleum Products Pricing Regulatory Agency, (PPPRA), hereby
announces, effective immediately that the new price band for PMS shall be at a maximum of N145/litre. However, NNPC Retail stations on the outskirts of major cities are advised to sell at price lower than N145/litre.

This review became imperative in the face of extreme difficulties faced by Petroleum Product Importers in sourcing foreign exchange. To meet the consumption
demand of the Nation, Importers will henceforth be permitted to source for their foreign exchange requirements from the secondary sources.

PPPRA is conscious of the difficulties that Nigerians have been going through in the last few months and to ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics thereby ensuring fair value to all Citizens.


Signed:
Sotonye E. Iyoyo
Ag. Executive Secretary
May 11, 2016

Source: http://pppra.gov.ng/pppra-second-quarter-price-modulation/

I need to relocate to the neighboring country fast before Nigeria become a country for only the rich.

All of you that are causing wahala in this country, there is God o!

Boko haram
Biafra
Fulani Herds men
Niger Delta Militants
Non payment of Minimum wage of N18,000
Now, Petrol at N145 per litre
NLC is about to go on strike

Naija is heading for serious crisis. Na to find square root o!

Lawalemi:
I wanna give up on Nigeria

Pls don't.

wealth123:
Stealing is now corruption. Your hero made Nigeria fantastically corrupt and now Buhari is here to put things right. Shame on you.

Fowl, go back to school and ask your teacher the difference between stealing and corruption. This is how you people fail exams and come out to blame your teacher, Google is there to help you, but NO you can't get it. You think you are more intelligent than the learned counsel whom GEJ quoted and made reference to when he said it. Continue in your ignorance.