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N250/litre Loading . . . - Politics - Nairaland

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N250/litre Loading . . . by 989900: 7:57am On Feb 01, 2018
We are selling more crude than Jonathan right now at higher prices ($65+) than Jonathan did towards the tail end of his administration($50 thereabout), yet the exchange rate is more than twice.

Of course products are landing now at N180/litre (so you subsidize or 'under recover' . . . 'yada yada yada'), 'cause the rates are at N360 to a dollar, at N180 to a dollar PMS will be at lower than N90/litre.

We have ultimately put ourselves in an economic catch 22, while economies of other oil countries are looking up and exchange rates improving, ours is doing the opposite simply because higher crude prices causes pains to our Naira via excess liquidity (courtesy of our economically faulty allocation disbursement implementation).

And most importantly, via the greed and cluelessness of past and present administrators (politicians and civil servants) of this country who's fault it is our refineries won't work at even a third of their capacity, hence, our need to always use the same hard earned Forex to source for refined petroleum products!

Imagine doing that if crude pushes north of $90/$100 per barrel with a confused economic administration seeing N360/$ as an achievement, same team that believes foreign reserves figures that doesn't translate to reduced inflation on the streets mean anything to an average Joe -- then, we will buy fuel at N250/litre!

3 Likes

Re: N250/litre Loading . . . by madridguy(m): 7:59am On Feb 01, 2018
Wahala dey ooo
Re: N250/litre Loading . . . by papoudaupolos: 8:02am On Feb 01, 2018
The
Re: N250/litre Loading . . . by SalamRushdie: 8:05am On Feb 01, 2018
Buharis poor understanding of economics and his low IQ put us in this catch 22 situation where if oil prices increase Nigerians suffer and if it reduces Nigerians also suffer...Is this not enough proof that Buhari has no idea of what he is doing

16 Likes

Re: N250/litre Loading . . . by Bossontop(m): 8:09am On Feb 01, 2018
grin cheesy
Jonathan iz somewhere sitting jejely and smiling

22 Likes

Re: N250/litre Loading . . . by hisgrace090: 8:12am On Feb 01, 2018
Nigeria is doomed.

Who will bell the cart?

2 Likes

Re: N250/litre Loading . . . by BeeBeeOoh(m): 8:13am On Feb 01, 2018
But, someone said Buhari's supporter's will be buying fuel at N40/ltr??



Sai Chain-Ji


Sai Barber


Buhari till 3450

12 Likes

Re: N250/litre Loading . . . by Realdeals(m): 8:17am On Feb 01, 2018
I'm sure there will be a way out, FG might create a special window for fuel importers to access FX at a lower rate than the N360/$, maybe N280/N250. This step will obviously create a rumble but it's achievable if they wanted.
The damage an increase in fuel price and the expected salary increase will caused on the economy & ordinary Nigerians should better not be imagined.

2 Likes

Re: N250/litre Loading . . . by Firefire(m): 8:25am On Feb 01, 2018
BeeBeeOoh:
But, someone said Buhari's supporter's will be buying fuel at N40/ltr??



Sai Chain-Ji


Sai Barber


Buhari till 3450


Sai Baber! cheesy

7 Likes

Re: N250/litre Loading . . . by BeeBeeOoh(m): 8:27am On Feb 01, 2018
Firefire:



Sai Baber! cheesy
Barber Is Working

14 Likes

Re: N250/litre Loading . . . by dunkem21(m): 8:34am On Feb 01, 2018
People like the OP who campaigned for Buhari and insulted us for crying out on time should hang their heads in shame.

We warned you!

13 Likes

Re: N250/litre Loading . . . by iloveyou82(f): 8:34am On Feb 01, 2018
Don't be panic.
Re: N250/litre Loading . . . by SOFTENGR: 8:35am On Feb 01, 2018
BeeBeeOoh:
But, someone said Buhari's supporter's will be buying fuel at N40/ltr??



Sai Chain-Ji


Sai Barber


Buhari till 3450
...till 3450?
Which direction please?

7 Likes

Re: N250/litre Loading . . . by BeeBeeOoh(m): 8:36am On Feb 01, 2018
SOFTENGR:

...till 3450?
Which direction please?
Direction-less embarassed lipsrsealed

4 Likes

Re: N250/litre Loading . . . by sholatech(m): 8:36am On Feb 01, 2018
Realdeals:
I'm sure there will be a way out, FG might create a special window for fuel importers to access FX at a lower rate than the N360/$, maybe N280/N250. This step will obviously create a rumble but it's achievable if they wanted.
The damage an increase in fuel price and the expected salary increase will caused on the economy & ordinary Nigerians should better not be imagined.

If you give Marketers this special rate, I believe huge part of these funds will find its way to the Black market due to huge effortless arbitrage opportunity it gives them. Supply will thus still be limited.

6 Likes 1 Share

Re: N250/litre Loading . . . by PFRB: 8:52am On Feb 01, 2018
Realdeals:
I'm sure there will be a way out, FG might create a special window for fuel importers to access FX at a lower rate than the N360/$, maybe N280/N250. This step will obviously create a rumble but it's achievable if they wanted.
The damage an increase in fuel price and the expected salary increase will caused on the economy & ordinary Nigerians should better not be imagined.

That special window amounts to subsidy. I believe they know what that entails.

5 Likes

Re: N250/litre Loading . . . by Firefire(m): 8:56am On Feb 01, 2018
dunkem21:
People like the OP who campaigned for Buhari and insulted us for crying out on time should hang their heads in shame.

We warned you!


grin grin

Buhary till Nigerians who voted the dullard have a brain-reset.

1 Like

Re: N250/litre Loading . . . by 989900: 9:03am On Feb 01, 2018
dunkem21:
People like the OP who campaigned for Buhari and insulted us for crying out on time should hang their heads in shame.

We warned you!

.
Re: N250/litre Loading . . . by 989900: 9:04am On Feb 01, 2018
dunkem21:
People like the OP who campaigned for Buhari and insulted us for crying out on time should hang their heads in shame.

We warned you!

It was either Buhari or Jonathan, shame on anyone who would have wanted GEJ and gang to continue.

As for me and other objective critics, we will always call it as it is regardless of who the 'horserider' is.


1 Like 1 Share

Re: N250/litre Loading . . . by dunkem21(m): 9:06am On Feb 01, 2018
.

12 Likes

Re: N250/litre Loading . . . by SantaCruz1: 9:09am On Feb 01, 2018
dunkem21:
People like the OP who campaigned for Buhari and insulted us for crying out on time should hang their heads in shame.

We warned you!
. dunkem21 my senior man

God bless you,we warned them,they called us tanoids,

the Op is one of those riffraffs that brought this calamity upon us all

i remember his long epistles those days

6 Likes

Re: N250/litre Loading . . . by 989900: 9:09am On Feb 01, 2018
SalamRushdie:
Buharis poor understanding of economics and his low IQ put us in this catch 22 situation where if oil prices increase Nigerians suffer and if it reduces Nigerians also suffer...Is this not enough proof that Buhari has no idea of what he is doing

Buhari is just a continuum of the 'dullardheads' selfishness, and cluelessness that has palgued this country for a long time.

3 Likes

Re: N250/litre Loading . . . by SantaCruz1: 9:10am On Feb 01, 2018
dunkem21:

May your life be like the way Nigeria is now under Buhari.
. Amen!!!!!!!!!!!!!!!

2 Likes

Re: N250/litre Loading . . . by 989900: 9:12am On Feb 01, 2018
dunkem21:


May your life be like the way Nigeria is now under Buhari.


My life has been at least 3 times better under Buhari, I can't say for others (I wish everyone the best though, going forward) -- it made me stronger, dig deeper for opportunities, and I came out stronger -- my businesses too.

I pay more people either as full staff or commission workers ( about 40 now, from less than 10 some 2-3 years back).

I spend more time in the country now than overseas -- things are looking brighter. The hardship of running my businesses from overseas and the fear of it collapsing under the mess created by Jonathan and further deepened in 2015/2016 by Buhari made me leave my comfort zone -- it was a risk, but it worked for me.

Would I, and some others have even made far more progress with more brilliant minds running the economy of this country? Absolutely yes!

And of course I do feel for those whose stories are different, hence the collective call for accountability and capable economic administration.

Find something doing, if you're doing something constructive right now, add extra stuffs doing to that. #workharder

My 2 cents.

3 Likes 1 Share

Re: N250/litre Loading . . . by dunkem21(m): 9:13am On Feb 01, 2018
SantaCruz1:
. dunkem21 my senior man

God bless you,we warned them,they called us tanoids,

the Op is one of those riffraffs that brought this calamity upon us all

i remember his long epistles those days

Don't mind him. I have told any repentant Zombie to first apologize to Nigerians before obtaining a wailer card cheesy

5 Likes

Re: N250/litre Loading . . . by dunkem21(m): 9:18am On Feb 01, 2018
989900:


My life has been at least 3 times better under Buhari, I can't say for others.

..So modath also said.

..But has Nigeria been better by at least 3 times under Buhari or worse?

4 Likes

Re: N250/litre Loading . . . by 989900: 9:27am On Feb 01, 2018
sholatech:


If you give Marketers this special rate, I believe huge part of these funds will find its way to the Black market due to huge effortless arbitrage opportunity it gives them. Supply will thus still be limited.

On the money!

#roundtripping

1 Like

Re: N250/litre Loading . . . by seunmsg(m): 9:44am On Feb 01, 2018
989900:


Imagine doing that if crude pushes north of $90/$100 per barrel with a confused economic administration seeing N360/$ as an achievement, same team that believes foreign reserves figures that doesn't translate to reduced inflation on the streets mean anything to an average Joe -- then, we will buy fuel at N250/litre!

[/i]

I raised this very important issue of the high Naira to dollar exchange rate some weeks ago when a thread about our foreign reserve hitting $40billion made it to the front page. It is good to build up foreign reserve but it is not enough. Prices of basic commodities that sustain the masses went up astronomically since 2016 and they are still not down. The masses don't care about GDP or foreign reserve figures. What matters to them are the prices of commodities like petrol and basic foodstuffs. If CBN refuse to crash the exchange rate to around N250, prices of basic commodities will still remain very high and an increase in petroleum pump price will be inevitable if the price of crude oil continue to go up. And trust me, this government will not get away scot free with another petroleum price increase.

We now have more dollars in our foreign reserve and the price of crude oil is really looking up. CBN should use what we have to crash the exchange rate now before it is too late. That to me is the only viable option in the short term.

The government should also immediately privatise those moribund refineries now. They will never work if they remain under the control of government.

7 Likes 1 Share

Re: N250/litre Loading . . . by yaki84: 9:49am On Feb 01, 2018
989900:


My life has been at least 3 times better under Buhari, I can't say for others (I wish everyone the best though, going forward) -- it made me stronger, dig deeper for opportunities, and I came out stronger -- my businesses too.

I pay more people either as full staff or commission workers ( about 40 now, from less than 10 some 2-3 years back).

I spend more time in the country now than overseas -- things are looking brighter. The hardship of running my businesses from overseas and the fear of it collapsing under the mess created by Jonathan and further deepened in 2015/2016 by Buhari made me leave my comfort zone -- it was a risk, but it worked for me.

Would I, and some others have even made far more progress with more brilliant minds running the economy of this country? Absolutely yes!

And of course I do feel for those whose stories are different, hence the collective call for accountability and capable economic administration.

Find something doing, if you're doing something constructive right now, add extra stuffs doing to that. #workharder

My 2 cents.
if u r more comfortable now than before, why open a thread to criticise the cluelessness n hullardiness of buhari?
Bros i will tell a lie if i say i believe u.

8 Likes

Re: N250/litre Loading . . . by 989900: 9:52am On Feb 01, 2018
yaki84:

if u r more comfortable now than before, why open a thread to criticise the cluelessness n hullardiness of buhari?
Bros i will tell a lie if i say i believe u.

Reading and comprehension is not exactly rocket science.

Read again.

1 Like

Re: N250/litre Loading . . . by americanson: 10:08am On Feb 01, 2018
madridguy:
Wahala dey ooo
Wait for it... shebi u dey support Buhari up and down. Una eyes never see anything. Just wait.

1 Like

Re: N250/litre Loading . . . by Sapiosexuality(m): 10:15am On Feb 01, 2018
989900:


It was either Buhari or Jonathan, shame on anyone who would have wanted GEJ and gang to continue.

As for me and other objective critics, we will always call it as it is regardless of who the 'horserider' is.


Lololol. Read this article. You belong to Category 7.

http://www.mortalpoet.com/7-categories-of-nigerians-still-in-support-of-buharis-failure/

3 Likes

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