Mynd44 you closed my thread saying that I posted false information, so what is this here? Why don't you do proper research instead of closing a thread. God is watching you.

https://www.nairaland.com/3448334/why-increase-fuel-price-again/1

Oletty:
Nigerians don't seem to understand how bad things could get. Oil is an international commodity and refined products trade at a premium relative to crude oil. Years of subsidies have not only distorted the price of refined products but also killed productive enterprise by fueling wanton and unnecessary consumption not backed by an increase in productivity. The government is now too broke to regulate the price of PMS, diesel and kerosene. The markets will determine the price. If the government intervenes, there will be scarcity.

The good news is that a market-reflective price of petroleum products would make renewables (like solar PV) more competitive in Nigeria. With diesel at N200/litre, solar pays back in 6 to 7 years. And this excludes the health effects and noise pollution caused by burning diesel and PMS in generators. Think of all the future health liabilities like cancers that will result from these.

The government should let the markets determine the price of petroleum products and allow cost-reflective pricing of electricity. Without these, there will be little to no investments in power despite the best efforts of Fashola. Subsidies only work if they can be afforded. Nigeria today is broke and with oil probably going to stay low forever (yes, oil demand will start declining in about 15 years time as rich countries transition to alternative energy sources), this is the time to start building productive enterprises, encouraging entrepreneurs and investing heavily in infrastructure. Population control might also be necessary as the annual 3.3% population growth rate has already become an unsustainable time bomb. No country in the history of the world ever got rich while people procreated without restraint. In Europe, they managed this by shipping excess people to North and South America.

Grid electricity prices at N20-N35 ($0.05-$0.075) per kWh are a sham. These barely cover the cost of generation. No country in the world with round the clock electricity charges such low prices (except in the oil-rich Middle East) given that there are transmission and distribution costs still have to be factored in. What it means is that electricity in Nigeria is subsidized, which is why there is no electricity in the first place as no one would invest--yet we are willing to pay N70/kWh to run diesel and petrol generators! Dangote only opted to build his ongoing mega refinery when government assured him that the refined products market would be deregulated. When completed, his refinery would have a significant impact on the country. The same can be done for power. Deregulate and investors will come.

Development is not rocket science. It is the outcome of sound and progressive policies. We know the problems, we are so unwilling to tackle them head on.

this ur novel sweet ooh all this sermon u wrote just for u not to blame saint buhari abi? Continue, anyways during the election u people said buhari can even have nepa bill as his certificate that you people dont care so enjoy buharia the gworo president

otukpo:
This APC government is wicked.

You aint seen nothing yet!

There is one Afonja that argued that it is a lie on my other thread ,where is he now? seunmsg come and talk to defend your master

Dem swear for Nigeria sef?

Oil prices in the world fall but PMS price increases in Nigeria.

And someone was shouting that the former President should reduce PMS price cause Crude oil price has crashed internationally.

So many wrong things with Nigeria

Odogwuskido:


You aint seen nothing yet!

As much as I hate to say it but this is just the plain simple truth. Next year will be tougher for Nigerians than this year, all their mistakes that they are using propagandist anti corruption crusade to cover up this year will become full grown and monstrous economic problems next year

Funny enuff, enuff of this silly. 200 loading.

Na fire go burn Buhari and him cabinets house if them increase Pms price.

Oya take this

elopee3000:
this ur novel sweet ooh all this sermon u wrote just for u not to blame saint buhari abi? Continue, anyways during the election u people said buhari can even have nepa bill as his certificate that you people dont care so enjoy buharia the gworo president

Lol. This is not just about Buhari's govt (though he must be blamed for being rather clueless as to how to solve the problem). GEJ's government cannot be said to have proactively approached these issues either, when oil prices were higher.

Stricker321:
omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka
omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka
omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka omenka, omenka, omenka, omenka, omenka, omenka, omenka, omenka

Look what Omenka's done to someone's child.

#King!

omenka:
Look what Omenka's done to someone's child.

#King!

Come here and lie down omenka.

Your lord and saviour is planning to increase pump price of petrol after taking it to a staggering N145 per liter.

What sayest thou?

[quote author=onatisi post=50828538][/quote]Your post are always prophetic bro. Are you one of them? Big up anyway.

DaGC:
Dem swear for Nigeria sef?

Oil prices in the world fall but PMS price increases in Nigeria.

And someone was shouting that the former President should reduce PMS price cause Crude oil price has crashed internationally.

So many wrong things with Nigeria

Abeg ask Fashola & Tam David-West again my dear.

otukpo:
This APC government is wicked.

My dear am tired of this wahala ooo, there is nothing we re enjoying in this country, No work, no money, no fertilizer for farmers, high tariff, 26.5% increase in bank charges on loan for entrepreneurs, no husband's and no wife's infact nothing at all good just pains.

Very soon this country might end up moving to Ghana as a collateral in exchange of loan. Thank God NA reject the borrowing of Mr President.

Recession is my boy and I am his father so I refused to be under Recession. Just a like will make you jump recession.

Oletty:
Nigerians don't seem to understand how bad things could get. Oil is an international commodity and refined products trade at a premium relative to crude oil. Years of subsidies have not only distorted the price of refined products but also killed productive enterprise by fueling wanton and unnecessary consumption not backed by an increase in productivity. The government is now too broke to regulate the price of PMS, diesel and kerosene. The markets will determine the price. If the government intervenes, there will be scarcity.

The good news is that a market-reflective price of petroleum products would make renewables (like solar PV) more competitive in Nigeria. With diesel at N200/litre, solar pays back in 6 to 7 years. And this excludes the health effects and noise pollution caused by burning diesel and PMS in generators. Think of all the future health liabilities like cancers that will result from these.

The government should let the markets determine the price of petroleum products and allow cost-reflective pricing of electricity. Without these, there will be little to no investments in power despite the best efforts of Fashola. Subsidies only work if they can be afforded. Nigeria today is broke and with oil probably going to stay low forever (yes, oil demand will start declining in about 15 years time as rich countries transition to alternative energy sources), this is the time to start building productive enterprises, encouraging entrepreneurs and investing heavily in infrastructure. Population control might also be necessary as the annual 3.3% population growth rate has already become an unsustainable time bomb. No country in the history of the world ever got rich while people procreated without restraint. In Europe, they managed this by shipping excess people to North and South America.

Grid electricity prices at N20-N35 ($0.05-$0.075) per kWh are a sham. These barely cover the cost of generation. No country in the world with round the clock electricity charges such low prices (except in the oil-rich Middle East) given that there are transmission and distribution costs still have to be factored in. What it means is that electricity in Nigeria is subsidized, which is why there is no electricity in the first place as no one would invest--yet we are willing to pay N70/kWh to run diesel and petrol generators! Dangote only opted to build his ongoing mega refinery when government assured him that the refined products market would be deregulated. When completed, his refinery would have a significant impact on the country. The same can be done for power. Deregulate and investors will come.

Development is not rocket science. It is the outcome of sound and progressive policies. We know the problems, we are so unwilling to tackle them head on.

Bro, exceptional write up, but I fear that you are preaching to the deaf. Unfortunately, I've learned that logic and reason are wasted on the masses, they will always revert to what comes naturally, which is knee jerk emotive responses, as opposed to carefully considered logic and reason.

I'll make just one small correction to what you've written, concerning the cost of electricity for generators. As one of, if not the largest Solar Power company in Nigeria, we do a significant amount of energy assessments across homes and businesses, as part of our sales and installation processes.

I can tell you that the price per kWh of running a generator varies significantly based on the size of the generator, and the prevailing price of Petrol and Diesel. Paradoxically, the smaller the generator you use, the higher the cost per kWh, so we see by far the highest marginal costs of electricity with those who use "I better pass my neighbour" generators. These can be as high as N500 per kWh, whilst the average Petrol generator user in Nigeria, at N145 per litre, is actually paying an average of N200 - N250 per kWh for their power. Diesel burns much more slowly than Petrol, and as such, we see costs of anywhere between N70 - N150 per kWh on average, depending on how efficiently the generator has been sized. Very often, people are using generators that are far larger than they require, and therefore consume significantly more diesel than they would otherwise do if they used a smaller generator to power the exact same loads.

Regards

Uvie

This govt is so clueless to the extent that things run dem

madridguy:
The fuel matter self don belleful person self. The NNPC should just maintain their lane and stop adding salt to injury.

they make too much noise..

is the sector privatized or not??..

setting a prize will create another gragra for the next 5years...we dont need that...

fourthworld:


The joy about the whole recession and what follows it is that the Afonjas are the most affected by it. Very interesting indeed, next time they will not allow their hatred for igbos make them vote blindly. Increase the pump jare, the lazy ones will be mostly affected

Yes indeed buddy..jesus told his people that he came in his father's name and they received him not another came in his own name and they received him.that is the case of Jonathan and Buhari