ok

Haba, I wonder why our opinions these days in Naija are either tribalistic or political. The op only listed the cheapest countries to buy petrol, then your mind went to where I can't explain.

My brother,your finishing is classic >:

flyca:
Why didn't you dig out this statistics when fuel was selling at N87?

How many oil producing nations sell more expensive than us?

How many of these countries run their homes and businesses on PMS?

Lemme give you an example: An average family man “in a fuel expensive country” uses about 10 liters of petrol per month. Full is not scarce and thus not adultrated. Also it is well regulated. There are staff buses to take him to work. He also can use air-conditioned public transport to work. He needs no generator to power his apartmenr, or run his business. 10 liree

Now answer me: how many liters of fuel (on the average) does a family man need per month in Nigeria?

Is Zon-B-ism the best work you can do in this world?

gr8child:
That's good. Let it be like that until the majority of the citizens of this country can begin to enjoy some other real benefit of being a citizen of one of the largest oil producing nations. In a country we are still arguing about paying N30,000 (less than $100) a month as minimum wage, the IMF and other proponents for the removal of subsidy want us to pay what they are paying in America for petrol. They are not serious. If they want to increase the price of petrol, they should improve the economy.

Thing is, if we keep the price of fuel low...time will come when we will keep on owing the NNPC millions in unpaid subsidy claims as the cost of importing fuel goes up.

And no one is going to come into Nigeria, and build a new refinery and sell fuel below the manufacturing cost per liter. Even Dangote is not going to sell fuel at N140 per liter to marketers...below the manufacturing cost, and with all his loans he took for the refienry.

Plus, no one is going to invest in our downstream sector because no one wants to come in and make zero profit.

And why keep subsidy...with all the scams going on.

When we started GSM, Obasanjo allowed GSM companies to set prices anyhow. People were buying SIM cards for N10000 and above. People also wanted Government to control prices. Govt refused.

Five years later...thanks to money plus investment flowing in...prices dropped. Phones became so cheap that even rural people were owning 2 lines.

Why can't we do the same for fuel. Yes...price will go above 200 naira...but investment would flow in, and jobs would be created.And more people will build refineries.

But your God Buhari said that there was no subsidy.

Today he is *paying out" three times the subsidy that Jonathan paid despite almost doubling the fuel price.

APC =scam

theoldpretender:


Because we are selling fuel at N145 per liter when it costs N190 to import it.

The Government pays a subsidy...of about N45 per liter (sometimes as high as N65 per liter) ...to keep the price low. Problem is, it means NNPC just makes back the cost of importation, and does not make a profit.

Also paying subsidy is costing the government big time...and is not sustainable.

Rekyz:
We should be at no1. No thanks to the Dullard.

what stopped una when una dey power for 16 years?

Mizwisdom:



Why don't we value knowledge in this country. You're shouting no but you're 100% wrong

We value knowledge but half baked render us hopeless

theoldpretender:


Because we are selling fuel at N145 per liter when it costs N190 to import it.

The Government pays a subsidy...of about N45 per litre (sometimes as high as N65 per litre) ...to keep the price low. Problem is, it means NNPC just makes back the cost of importation and does not make a profit.

Also paying subsidy is costing the government big time...and is not sustainable.

Let that be the benefit being enjoyed by the Nigerian people since most of the profits that are made from our commonwealth are eventually stolen by government before it can benefit the masses. The government cannot fail to create a decent economy for its people that would give them an appreciable standard of living and better buying power, and then at the same time complain that the people pay too little for a basic necessity in their lives.

Mugu, there's constant power supply in these Countries & non of its citizens beg for basic human requirement. Get your facts right so you don't make a foo..l of yourself

veraponpo:

It is N900/litre in the US

It is about N500/litre in Ghana

shogosco:
its our right....not a big deal

not a big deal, my foot... that's until inflation collapses your economy like the Number one country on the bar chart

Highbhee:




Is US producing Oil?


NO!!!...

More so, average Nigerians work for 12hrs to get #1000 but in US, an hours gonna give you 5k equivalent!!...

So, lock up bruh

Yes, the US is the largest producer of oil in the world.

It also has the highest reserve by passing the record of Saudi. US also has shale oil which is different from our own crude oil

stevio:
Mugu, there's constant power supply in these Countries & non of its citizens beg for basic human requirement. Get your facts right so you don't make foo..l of yourself

Compare apple with apple.

The basis of comparison is oil price; when other matters arise, please bring them on.

theoldpretender:


Because we are selling fuel at N145 per liter when it costs N190 to import it.

The Government pays a subsidy...of about N45 per liter (sometimes as high as N65 per liter) ...to keep the price low. Problem is, it means NNPC just makes back the cost of importation, and does not make a profit.

Also paying subsidy is costing the government big time...and is not sustainable.

And you felt we can be deceived. You should have opposed their initial submission that Previous Govt were not subsidizing fuel. How come the subsidy is now being calculated to the cost of importation. Keep defending their lies.

ZomB at work.

Notice he carefully avoids mentioning economic policy. Because Nigeria doesn't have one.

APC is planning to increase fuel again.

I guess most people have forgotten that they claimed there was nothing like subsidy before they entered, then after they entered they said they had to increase prices to wipe out subsidy.

After increasing prices they actually trebled the amount of daily subsidy they were paying out(high level corruption)

Now they have sent their ZomBs out to prepare us for another increase(which will definitely NOT lead to eradication of subsidy)

In 3yrs time they will increase it again.

All without having any form of economic policy.

Bill Gates came and lambasted them and they said he doesn't know what he is talking about.

APC=Scam

theoldpretender:


Thing is, if we keep the price of fuel low...time will come when we will keep on owing the NNPC millions in unpaid subsidy claims as the cost of importing fuel goes up.

And no one is going to come into Nigeria, and build a new refinery and sell fuel below the manufacturing cost per liter. Even Dangote is not going to sell fuel at N140 per liter to marketers...below the manufacturing cost, and with all his loans he took for the refienry.

Plus, no one is going to invest in our downstream sector because no one wants to come in and make zero profit.

And why keep subsidy...with all the scams going on.

When we started GSM, Obasanjo allowed GSM companies to set prices anyhow. People were buying SIM cards for N10000 and above. People also wanted Government to control prices. Govt refused.

Five years later...thanks to money plus investment flowing in...prices dropped. Phones became so cheap that even rural people were owning 2 lines.

Why can't we do the same for fuel. Yes...price will go above 200 naira...but investment would flow in, and jobs would be created.And more people will build refineries.

Highbhee:




Is US producing Oil?


NO!!!...

More so, average Nigerians work for 12hrs to get #1000 but in US, an hours gonna give you 5k equivalent!!...

So, lock up bruh

Much more than Nigeria can ever think of.

flyca:
Why didn't you dig out this statistics when fuel was selling at N87?

How many oil producing nations sell more expensive than us?

How many of these countries run their homes and businesses on PMS?

Lemme give you an example: An average family man “in a fuel expensive country” uses only about 10 liters of petrol per month. Fuel is not scarce and thus not adultrated. Also it is well regulated. There are staff buses to take him to work. He also can use air-conditioned public transport to work. He needs no generator to power his apartmenr, or run his business.He needs to travel out of town, he takes a well equipped, well-maintained speed train or he flys! 10 litres is okay for weekend outings and necessities.

Now answer me: how many liters of fuel (on the average) does a family man need per month in Nigeria?

Is Zon-B-ism the best work you can do in this world?

The reason why fuel subsdies have to go is simple.

1.We are not making enough cash to fund it. Oil is less than $60 per barrel. We need it at $140per barrel. Even when GEJ was in power, and oil was above $100...we stillcould not fund it...which is why he increased prices from N65 to N140 IN 2012...but Nigerians forced him to reduce iot to N97...then to N87...while the cost of fuel importation went up from N99 in 2012 to N132 in 2016.

2.Right now,fuel is at N145. When it was increased in 2016...landing cost was N132. Now it is N190 as at last week.Government pays NNPC the N45 difference. NNPC cannot make a profit...so cannot do things like fixing refineries, facilties,etc.

Now...this has been going on for decades.

3.Stripping the poltics aside...the truth is, we cannot afford subsidy. It is not letting people make profits which can be reinvested in jobs, new refineries and other facilities, etc. It iskeeping investors away...and eventually when Dangote opens his new refinery...either prices go up..or Dangote exports abroad.

4.Oil subsidy has to go. GEJ was right in 2012..and God knows that back in 2012..I finally saw some sense about the subsidy thing after opposing its removal since the nineties.

Highbhee:




Is US producing Oil?


NO!!!...

More so, average Nigerians work for 12hrs to get #1000 but in US, an hours gonna give you 5k equivalent!!...

So, lock up bruh

The US is producing oil....

Output was expected to rise 1.31 million barrels per day (bpd) to 10.68 million bpd in 2018, lower than last month's forecast of growth of 1.44 million bpd to 10.79 million, according to the U.S. Energy Information Administration

Source : Reuters

In fact the US is not as reliant on oil imports as it used to be.

biosilicon:


Remember a supporter of evil no matter the reason is guilty of same. You can deceive yourself all you want and try to pacify your guilt by feigning good morals. Words are powerful. Be careful.

Don't mind the 30k BMC. Na their way

flyca:
Why didn't you dig out this statistics when fuel was selling at N87?

How many oil producing nations sell more expensive than us?

How many of these countries run their homes and businesses on PMS?

Lemme give you an example: An average family man “in a fuel expensive country” uses only about 10 liters of petrol per month. Fuel is not scarce and thus not adultrated. 1 liter is equal to 1 liter! No stories, no queues. Also it is well regulated. There are staff buses to take him to work. He also can use air-conditioned public transport to work. He needs no generator to power his apartment, or run his business. If he needs to travel out of town, he takes a well equipped, well-maintained speed train or he flys! 10 litres is okay for weekend outings and rare necessities.

Now answer me: how many liters of fuel (on the average) does a family man need per month in Nigeria?

Is Zon-B-ism the best work you can do in this world?

Good one

...and one with lowest income among oil producing countries. So please tell us something else we don't know.

VULCAN:
ZomB at work.

Notice he carefully avoids mentioning economic policy. Because Nigeria doesn't have one.

APC is planning to increase fuel again.

I guess most people have forgotten that they claimed there was nothing like subsidy before they entered, then after they entered they said they had to increase prices to wipe out subsidy.

After increasing prices they actually trebled the amount of daily subsidy they were paying out(high level corruption)

Now they have sent their ZomBs out to prepare us for another increase(which will definitely NOT lead to eradication of subsidy)

In 3yrs time they will increase it again.

All without having any form of economic policy.

Bill Gates came and lambasted them and they said he doesn't know what he is talking about.

APC=Scam

Like I said, we can no longer afford fuel subsidy.

GEJ saw it in 2012...which is why he raised prices from N65 to N140...at a time when it was costing us N99 to import one liter of fuel.

Nigerians cried out, people like Buhari and Tinubu joined them...GEJ reduced it to N97...we got into a huge debt as a result.

By the time Bubu came into power, and recieved some home truths...he icnreased prices from N87 to N145 when landing cost was N132 per liter.

Now it costs N190 per liter.

Forget the politics crap...and face facts. Either subsidy goes...or we keep on losing billions to subsidy scammers and NNPC corruption.

And Lord knows I hate the idea of subsidy removal. But it is costing us too much. Maybe we should spend the savings we get from subsidy removal on public transport....

IgweBUIKE1:
oga stop been a nuisance ok...tell me if most of the apc goons are not part of the 16years misrule you re talking about ...pls let's vote sowore he is better than your glorified dullard

Don't mind him

excel101:
And you felt we can be deceived. You should have opposed their initial submission that Previous Govt were not subsidizing fuel. How come the subsidy is now being calculated to the cost of importation. Keep defending their lies.

Look...let me make things clear here.

I backed GEJ's subsidy removal plan in 2012 because it made sense to me

Understand everything I say through that prisim.

Thank you

And I don't back APC or PDP....I think both parties are in it for themselves, not for Nigerians...

What about wages and salaries??

veraponpo:


Yes, the US is the largest producer of oil in the world.

It also has the highest reserve by passing the record of Saudi. US also has shale oil which is different from our own crude oil

Well, shale oil aren't originally But precursor of kerogem which gonna take millions of years bfr turning to oil...


Now, tell me... Among Oil producing countries?

Where is the US Occupying?

theoldpretender:


Thing is, if we keep the price of fuel low...time will come when we will keep on owing the NNPC millions in unpaid subsidy claims as the cost of importing fuel goes up.

And no one is going to come into Nigeria, and build a new refinery and sell fuel below the manufacturing cost per liter. Even Dangote is not going to sell fuel at N140 per liter to marketers...below the manufacturing cost, and with all his loans he took for the refienry.

Plus, no one is going to invest in our downstream sector because no one wants to come in and make zero profit.

And why keep subsidy...with all the scams going on.

When we started GSM, Obasanjo allowed GSM companies to set prices anyhow. People were buying SIM cards for N10000 and above. People also wanted Government to control prices. Govt refused.

Five years later...thanks to money plus investment flowing in...prices dropped. Phones became so cheap that even rural people were owning 2 lines.

Why can't we do the same for fuel. Yes...price will go above 200 naira...but investment would flow in, and jobs would be created.And more people will build refineries.

Everything you say makes textbook economic sense. However, you cannot squeeze water out of stone. We cannot look at one set of factors (the need to make local refining attractive and to free up income for the government) without considering other factors (the need of the people to survive). Investment will not flow in overnight. In the meantime, the masses would suffer great hardship caused only by the failure of the government to create an enabling economy that would enable its people better absorb the effects of those reforms.

In Zimbabwe, the cost of 1 litre of petrol is now the equivalent of N1,000. That would be N50k to fill up the average car if that kind of increase is implemented here. Even if you think that that is a drastic example, just looking at what is happening in Zimbabwe shows how recklessly tampering with the price of PMS to achieve textbook results, while ignoring other important factors, can go very wrong.

stevio:
Mugu, there's constant power supply in these Countries & non of its citizens beg for basic human requirement. Get your facts right so you don't make a foo..l of yourself

Even Your Constant Electricity because you are a Village still doesn't help your life as A Citizen

The reason is in the value of our currency compared to the dollar. Naira has no value, hence the perceived cheapness in the price of petrol compared to other countries.
OK, can any Nigerian citizen boldly say that petrol is cheap in this country?

gr8child:


Let that be the benefit being enjoyed by the Nigerian people since most of the profits that are made from our commonwealth are eventually stolen by government before it can benefit the masses. The government cannot fail to create a decent economy for its people that would give them an appreciable standard of living and better buying power, and then at the same time complain that the people pay too little for a basic necessity in their lives.

That's what we have been saying since 1993...and as a result, the downstream sector gets starved of cash, and we cannot afford new refineries or improvement to existing refineries.

(Have been following the subsidy argument since 1993...and God knows they were saying what you just said back then. And I beleived it until the scales fell off my eyes in 2012)

The only way we can afford a subsidy is if oil goes above $150 per barrel.

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