…Says policy in best interest of economy

ByEmma Ujah,

The federal government has said that there is no alternative to the new policy of deregulation of the price of petrol and  appealed to the leadership of labour unions and all Nigerians for understanding, as the current hardship would not last long.

Addressing journalists in Abuja, Monday, the Minister of Information , Alh. Lai Mohammed, said that the paucity of foreign exchange has made it impossible for the Nigerian National Petroleum Corporation to continue to solely import petrol.

His words, “Many have been asking why this would happen at this time and what triggered the decision concerning the new framework for petrol products supply, distribution and pricing.

“Gentlemen, we have no choice than to liberalize the price of petrol, if we are to end the crippling fuel scarcity that has enveloped the country, ensure the availability of the products and end the suffering of our people over the lingering scarcity.”

Details later..

: http://www.vanguardngr.com/2016/05/petrol-no-alternative-deregulation-fg/

Hmmm ok

Sai Buhari

This decision is irreversible

Anyway, I am listening to Landlady from Joe Nez to cool off a hard-day online.

OK

Nigerians REALLY elected hyenas during the last elections to look after goats.

madridguy:
Drastic times call for drastic measures.

you no lie bros.

We all need to bear the pain for now to save our economy from total collapse.

Mutuwa:


you no lie bros.

True.
Govt must not back down no matter what.
Had GEJ stood his ground in 2012, by now we would have been better for it.
No thanks to NLC and TUC.

lai lai......anytime this man speaks.

even APC members wonder, who send am to lie and disgrace us again

OK I see
Meanwhile i also discover that there is No alternative to PDP Govt

Lienus



https://www.youtube.com/watch?v=J0cSOtPxnYk

ACN turned APC will NEVER know peace


https://www.youtube.com/watch?gl=NG&hl=en-GB&v=Kpc8gwCXDn8

I'm confused now sef......I now spend so much fueling the car and the generator

But fuel was more than sufficient during GEJs regime

As difficult as it is, deregulation is the best option right now instead of promises to end scarcity we all know can't be achieved.

Competition in the long run will force the price down, if all that subsidy money is channeled to getting the 3 refineries we have working to full capacity, licensing private refineries and hopefully the "coming soon" dangote's refinery. This will reduced the pressure on the already dwindled foreign reserve or wherever it is they are getting it from as more of the product will be refined locally.

If measures are not put in place to achieve the above then "competition" might end up having little impact on price reduction as scarcity of foreign exchange will push the price of the dollar up and by extension raise the cost of production. Irrespective of the level of competition, nobody is going to sell below "cost price"

Diversification should also be pursued headlong..... Not promising Eldorado and achieving far below reasonable expectation.

your lies is enough alternative

Thk God he didn't blame Oga Jonathan

Yes there is an alternative Mr. Lai....and the alternative is not rocket science.

The alternative is to make us self sufficient in refining and also provide steady power supply. Provide these alternatives and let's see if there will be a be need to subsidize.

For the next couple of years, Nigerians brace yourselves for some hard times...all I see is every body talking about importing petrol, no one is talking though on local refining to meet our consumption.

I weep for my country.

tiamiyukunle69:
I'm confused now sef......I now spend so much fueling the car and the generator

must you drive all the time? At least you have alternative

Fuck_ Buhari.

I beg everytime these people go say we have 2 bear the pain 2 enjoy latter, Pls which pain the politicians don ever bear?
These new set of politicians on board collect SUV, Wardrobe allowance poor man na to dey bear everytime Hmmm.

APC is a shame but same thing you wouldn't allow PDP to do. I have lost confidence in their governance.
Corruption is indeed fanatastically part of Nigeria....

The Lying Liar from the bloodthirsty cult, APC, has opened his mouth again.

APC is a disgrace

[size=18pt] The Fantastically lying Legend [/size]

Very prideful statement from a minister

D government should increase minimum wage to save civil servants from this looming hardship. The business people have taken care of themselves by increasing their prices, the private sector should be compelled to abide by the minum wage and the naira losses its value automtically. The common man is always asked to bear the brunt of the reckless political class. They come and destroy our economy and country, enrich themselves, live very extravagant lifestyles, buy choice properties in the best part of the country make themselves comfortable then leave office. A new set come and pilfer our collective resources make their blunders and still ask us to be patient. Its high time we speak outbwith one voice and forget our differences as youth and demand accountability from leader from the councilor in a local government to the president at the centre

is it not unfortunate that our Minister does not know the difference between subsidy removal, price modulation and price liberalism.

they put microphone in front of his face and he begins to blab.

we only transferred subsidy payment, hitherto paid by the government to a few cabal to the masses of Nigeria.

we now pay with our money.

FG has not deregulated. when you deregulate you don't determine price of PMS.

The same thing they stood stoutly against in 2012 is now being trumpeted as the best for the country.
I am for the removal of fuel subsidy, but it reallly rankles how we were driven four years back because of political gains.