psucc:
They should spare is these lies. it is obvious they are bent on price increase so let them do it.

It is our fault. How can a country with over 20m graduates decides to vote for an illiterate?

ajepako:


Abeg..even gorilla get sense pass this government..

enemyofprogress:
we don enter one chance with auto pilot

Moreoffaith:
Hmmm....abeg make everybody contribute 100# each make dem take am repair our refinery....

davodyguy:
There's nothing wrong in what's happening.

Let me quickly clarify before dumbass analyst start talking nonsense.

Where we were

Sometime in December, 2015 the price of crude oil per barrel dropped to about $32 and the exchange rate then was less than N300 to 1$. At that time, the government. Marketers were making profit, without subsidy being paid.

2016 first quarter

By mid January, the price of crude oil started rising, and that was the time CBN started their failed policy on exchange rate. What happened then was that as the crude oil price increased, exchange rate to dollar also increased. This made landing cost of refined products to go up. You would recall that we experienced scarcity till May, 2016 when subsidy was finally removed. Why? Cos product was sold. (PMS) at N87 per litre and the differential was paid to marketers as subsidy.

May, 2016

Subsidy was removed. Exchange rate is now over 300 naira to a dollar. Hence we started buying PMS per litre at N145.

NOV, 2016

International price of crude oil rose to $50 per barrel and exchange rate is over N400. The landing cost would automatically increase. But since PMS price is still being regulated and pegged, no marketer would import a product at N145 per litre and still sell below cost price.

JAN, 2017

In order to avoid two things

1) Fuel Scarcity
2) Increased PMS price

NNPC is now importing 90%. of daily consumption of PMS so that Nigerians would not suffer.

So I wonder how some dunce will insult NNPC, when they're actually saving you.

The only solution now is for CBN to do something about the exchange rate and things would be back to normal.

Price not per barrel is about $53-54 and exchange rate is over N400 naira.

Price may remain $54 or even go higher as we pray and hope for. CBN must do something about the exchange rate and allow drop back to 300 or below. If this is done, things would balance up

kennymotors:
for thieves

ajepako:


that time wey you..lyangbali..babangbali..and notorious babe dey shout sai baba and carry sai baba for head like gala..you no know say na one chance..

Una eye don clear when una don chop una free rice...and indomie finish...

Tifun loran..

kennymotors:
for thieves

AfonjasMustDie:
APC zombies and Buhari are the dumbest people on earth

They crucified and wanted to kill Goodluck Jonathan for introducing subsidy

What is happening now ?? Buhari the ignorant 90 years old farmer and his APC rats have ran to subsidy( which they called looting) to help them

This is just the begining

I want the economy to get worse

I want rice to be sold for 50 thousand naira per bag

I want everything to crash to the ground

This is what Zombies deserve for voting in an ignorant farmer as the president

I pray that Buhari will rule Nigeria for 100 years

This is just the beginning of the hardship

Kerosene was 120 naira when Goodluck Jonathan was the president and some idiots said that they want change, they voted for a 90 year old farmer and 1 year later a liter of kerosene is 500 naira

I pray that the price of petrol will increase to 9 thousand naira per liter so that these zombies will die of hardship

davodyguy:
There's nothing wrong in what's happening.

Let me quickly clarify before dumbass analyst start talking nonsense.

Where we were

Sometime in December, 2015 the price of crude oil per barrel dropped to about $32 and the exchange rate then was less than N300 to 1$. At that time, the government. Marketers were making profit, without subsidy being paid.

2016 first quarter

By mid January, the price of crude oil started rising, and that was the time CBN started their failed policy on exchange rate. What happened then was that as the crude oil price increased, exchange rate to dollar also increased. This made landing cost of refined products to go up. You would recall that we experienced scarcity till May, 2016 when subsidy was finally removed. Why? Cos product was sold. (PMS) at N87 per litre and the differential was paid to marketers as subsidy.

May, 2016

Subsidy was removed. Exchange rate is now over 300 naira to a dollar. Hence we started buying PMS per litre at N145.

NOV, 2016

International price of crude oil rose to $50 per barrel and exchange rate is over N400. The landing cost would automatically increase. But since PMS price is still being regulated and pegged, no marketer would import a product at N145 per litre and still sell below cost price.

JAN, 2017

In order to avoid two things

1) Fuel Scarcity
2) Increased PMS price

NNPC is now importing 90%. of daily consumption of PMS so that Nigerians would not suffer.

So I wonder how some dunce will insult NNPC, when they're actually saving you.

The only solution now is for CBN to do something about the exchange rate and things would be back to normal.

Price not per barrel is about $53-54 and exchange rate is over N400 naira.

Price may remain $54 or even go higher as we pray and hope for. CBN must do something about the exchange rate and allow drop back to 300 or below. If this is done, things would balance up

psucc:
They should spare is these lies. it is obvious they are bent on price increase so let them do it.

It is our fault. How can a country with over 20m graduates decides to vote for an illiterate?

desquad:
there can never be any solution because afonjas hate the igbos and will never side us,, afonjas will always be afonjas till they all die of hunger
Tinubu supported buhari out of selfish interest and hatred for an Igbo president. And now his bad choice has backfired and you're asking what the solution is?

The solution now is give us"BIAFRA" so hausas and Afonjas can remain in this zoo kill themselves with this foolishness they call wiseness

chronique:



I don't like when people like you try to twist things around and tell lies just to support buhari. Gej spent 5yrs and not 6yrs. Secondly, the manufacturers of the refineries we have, were invited to give a quote on how much it would cost to do a turn around maintenance and they said they couldn't do it cos the refinery was outdated and getting the parts were difficult. Another firm was invited and the cost given was bogus. At the end, govt decided to get local engineers to do it. They did a TAM but that didn't stop it from packing up. As a matter of fact, there were several TAMs done under Obasanjo but it only worked for a short while before packing up again and then going through another TAM and it became an avenue to siphone money from govt coffers.

Eastactivist:

You are wrong, oil importers like NNPC are the reason naira is being threatened. I expected you not to be economical with the truth. CBN has nothing to do with this. Let NNPC make our refineries functional that's the only way they can help us. And don't remind me of Niger delta militants, the federal government knows what to do to end it yet they are adamant.

obailala:
How can a country with 170 million people and with billions of barresls of proven oil reserves not have a single functional refinery?... And yet the PhD educated presidents didnt think it was sensible to fix a single refinery but you stood under the hot sun to re-vote him.

blackpanda:


You have said nothing. Your long epistle goes to no issue. If pdp couldnt fix the refinery in 16yrs then why blame buhari who has barely spent 2 years. Pls stop telling us stories cos u are actually the liar here!

davodyguy:

Don't just make things up for the purpose of posting.

How's NNPC responsible for the weakened Naira?

What's wrong with oil marketers?

AfonjasMustDie:
APC zombies and Buhari are the dumbest people on earth

They crucified and wanted to kill Goodluck Jonathan for introducing subsidy

What is happening now ?? Buhari the ignorant 90 years old farmer and his APC rats have ran to subsidy( which they called looting) to help them

This is just the begining

I want the economy to get worse

I want rice to be sold for 50 thousand naira per bag

I want everything to crash to the ground

This is what Zombies deserve for voting in an ignorant farmer as the president

I pray that Buhari will rule Nigeria for 100 years

This is just the beginning of the hardship

Kerosene was 120 naira when Goodluck Jonathan was the president and some idiots said that they want change, they voted for a 90 year old farmer and 1 year later a liter of kerosene is 500 naira

I pray that the price of petrol will increase to 9 thousand naira per liter so that these zombies will die of hardship

tivta:
Dropshot will never comment on this...

Eastactivist:


Don't be an educated illiterate...
How can you be asking that dumb question?

Just because you wrote long epistles doesn't mean you can't be wrong bc you definitely are and I called you out because you are getting the public deliberately misinformed.

duni04:
The level of unemployment and illiteracy in this country is staggering. Did you people read the topic at all? Nobody is paying marketers any subsidy again because the NNPC is bearing the loss for the increase in landing cost. The price of oil has been steadily increasing since November. So the landing cost has definitely increased.
Why you people are screaming Buhari and APC baffles me. Our refineries just started producing optimally 2 months ago. Even if they are producing at 100% capacity we will still need to import because the refineries only produce 30% of what we need at optimal capacity.
When Dangotes refinery berths in 2018/2019 we will have all the petrol we need. So everybody should just take a chill pill and relax. There is nothing else the FG can do but wait and take a hit for us by incurring losses through the NNPC at least till 2018/2019.

blackpanda:
[s][/s]

Easy to sit behinde blogs and type trash. Building a refinery is not d same as building a house. Govt lacks both the finance and tech to build refinery. Besides it was not buhari that put our refinery in comatose state. Jonathan had 6yrs to fix it. He didnt. So why should we have voted for him

Its easy for wailers to nag because thats d only thing they r good at. Nag and hate. But its still inside this recession that govt is building bridges, rail, fixing airport and providing social welfare scheme. Things previous regimes didnt do despite their huge resources at disposal. Instead they were dashing their friends billions of dollars!