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Nairaland Forum / Nairaland / General / Politics / PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre (36644 Views)
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Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by lexander(m): 7:25pm On Jul 01, 2020 |
obailala:I thought the president promised during his campaign against Jonathan that he won't pay subsidy and that's why PMS was been sold for 143 naira ever since he entered Office.... So why am I now hearing about he has removed subsidy ? Is it possible to remove subsidy again after you've removed it the first time ? If he has just removed it then why was the price of petrol increase by almost 80% in his first term of ruling ? 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by cjrane: 7:25pm On Jul 01, 2020 |
SmartProf: But crude oil price is at about $40 dollars/ barrel! We paid N97 naira for a litre of petrol when crude oil price was $120 dollars/ barrel. Now that the price has reduced to $40 dollars/ barrel, we are paying almost double for the product? Pure wickedness on the part of the government! 2 Likes |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by tonididdy(m): 7:29pm On Jul 01, 2020 |
Anything that will ease the suffering of the masses can never last in this country. Never |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by bigfish3k: 7:33pm On Jul 01, 2020 |
kikero:So you believe this government refining fuel at N165. That means it's cheaper to import than to refine here Hope you have read what is on social media where nigeria produces crude at $23 while other countries are producing at $3 Our country is fraud |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by mankan2k7(m): 7:35pm On Jul 01, 2020 |
APC is evil and heartless. They don't have the interest of common men at heart |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by a4cube: 7:45pm On Jul 01, 2020 |
Bluntemperor:Don't mind them. Even here in UK petrol price is still going down. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 7:49pm On Jul 01, 2020 |
kikero:sometimes i wonder how you people to make comments without giving the pros and cons.. Now you are talking about saving. Where does the saved money go? Private pockets. Tell me how has Nigerians fair from this oil which is God given natural resources.. Everything looted. Just like a man who married a woman that suffered with him until he became rich and he decided to spend the money on side chics. That is the senario of Nigeria government(looters) and its citizens 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by alwaysonnet: 7:50pm On Jul 01, 2020 |
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Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by obailala(m): 7:54pm On Jul 01, 2020 |
lexander:Subsidy was removed when pump prices was increased to N145 in 2016. Of course following severe groaning from Nigerians, when oil prices increased further (prompting pump prices above N145), it was a politically inexpedient to let that happen. So subsidy was systematically re-introduced (under a new name called 'under-recovery') to peg the prices at N145. With oil prices rising much further, the amount spent / lost for the so-called under-recovery increased. This year, Covid19 crisis has forced oil prices to drop to record lows again. The government has just made another attempt (about a month or 2 ago) to stop subsidy finally. This time I doubt the govt would reverse on this decision because even the recent loan the FG got from the world bank, part of the conditions was that fuel subsidy would never be re-introduced. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by faithfull18(f): 7:56pm On Jul 01, 2020 |
Hmmn. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by obailala(m): 7:57pm On Jul 01, 2020 |
cjrane:Nigeria imports petrol with dollars. The exchange rate has more than doubled since the date you refer to. Do the maths! 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 7:57pm On Jul 01, 2020 |
ajebuter:exactly what is on my mind |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Nobody: 7:58pm On Jul 01, 2020 |
cjrane: Yes we paid N97 at $120 per barrel because 1.We had enough dollars to keep the value of the naira up. (Remember in 2012,$1 =N157, now $1=N465 ) 2.We also had enough dollars to pay to import fuel and pay for subsidy to keep the price of fuel at N97(between 2011-14 cost of oil per barrel was between $90-130). 3.Cost of importing fuel then (landing price ) in 2012 was N99 per liter. It was a different time. (and no, it does not mean Buhari is good or GEJ is bad or vice versa). 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Nobody: 8:00pm On Jul 01, 2020 |
bigfish3k: We export crude oil to be refined abroad. The cost of refining a liter of fuel is different from the cost of getting crude oil from the ground. (And we export crude because you cannot refine fuel at N165 and more and sell at N143 per liter and make an adequate profit ) |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by gemini35(m): 8:04pm On Jul 01, 2020 |
Nigerian govt it self is fraudulent defrauding the poor Masse's of their hard earned money,indirectly, while efcc and sars are busy chasing yahoo boys,while the bigger yahoo men are working scot free, Is crime to be a Nigerian, mnk. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 8:04pm On Jul 01, 2020 |
kikero:nonsense comment.. There is no marketers that have interest of the work force at heart... They are explotative. You speak as if some of us are not in Nigeria. A fuel attendant is paid peanut. Go to Dangote cement factory the workers dont earn well but he keeps getting richer... Nonsense. Who you wan deceive |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by BobTeeJoe: 8:05pm On Jul 01, 2020 |
Hardship is too much in Nigeria. A country blessed with excessive mineral resources is headquarter of poverty in the world. Nigeria is a failed nation. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Nobody: 8:06pm On Jul 01, 2020 |
Fourwinds: And why is the saved money going to private pockets? Because honest Nigerians like you and me refuse to do the hardwork of democracy..ie putting pressure on elected leaders to run a fair government. We just vote and then go home. Finito. All sucessful democracies are sucessful because people over the centruies put pressure on their governments to do the right thing. Some people even died in the process. As a result, their descendants have a better standard of living. Blacks in America live far better than they did 100 years ago because many of them used their demcratic rights to agitate for better. And many of the fighters knew that they won't live to see the fruits of their labour. But they fought.Some suffered heavily, some even paid the ultimate price. Here in Nigeria, we mock such people(good example Sowore) because we don't want to accept that democracy is good hard work. So we laze around on Nairaland, while our poltical leaders keep on chopping. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Nobody: 8:11pm On Jul 01, 2020 |
Fourwinds: A fuel attendant is paid peanuts because that's all their marketers can afford at current prices. We are selling fuel below the prodcution price, and you expect the marketer to have cash to pay his workers. If you were running a shop selling shirts at N5000 after buying them at N2500, and then government comes and forces you to sell your shirts at N2000, while paying you N300 for every shirt sold, where is the profit that you would make.?How would you pay your workers adequately? How would you run your business?? That's what we have been doing to the peroleum sector, and why it is not growing. If you want Dangote to pay his cement workers better, get your senator to pass a law guaranteeing that Dangote cement workers can form a union to agitate for better rights. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by obailala(m): 8:11pm On Jul 01, 2020 |
Bluntemperor:Nigerians of course have a right to feel bad over harsh economic situations. But this increase you have here is just an effect of the govt no longer paying subsidies. Except your proposal is for the govt to keep paying subsidies, I'm not sure I understand what your blames are for. Petroleum product prices in those other countries you talk about is not increasing because it has always been high; those countries have always had it deregulated and prices fixed based on market forces. I live in the UK, do you know how much I pay for a litre of fuel? £1.10 currently (and this is the lowest it's ever been , thanks to low oil prices). Pump price in Nigeria is one of the cheapest in the world even at N145, and this is because the govt always subsidises the cost. Whilst we agree that removing subsidy will cause hardship, if we must tell ourselves the truth, Nigeria cannot afford to keep paying subsidies. The only countries where the pump price is as cheap or cheaper than Nigeria are those mega rich oil producing nations like Saudi whose governments have a massive financial war-chest to even dispense petrol free of charge. 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Luckydubby7(m): 8:13pm On Jul 01, 2020 |
You opened inter state movement and increased fuel price. What a government. Just enjoy seeing the ordinary masses suffer. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 8:19pm On Jul 01, 2020 |
kikero:making comment nairaland doesnt equate to being lazy.. I did not vote this government. I saw what happened in their first term. I wanted a change of the government through voting but majority voted it again. May be because of 500 naira and so on |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Jahwinaboy(m): 8:20pm On Jul 01, 2020 |
Revolution now, we don't want to align together. On this platform some persons are encouraging us to STAND UP and many are not interested. We are doing ourselves more harm than good by Keeping Quiet |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by osteenbush(m): 8:20pm On Jul 01, 2020 |
Just as expected, I knew they were gonna increase the price as soon as the interstate movement ban is lifted. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by nextstep(m): 8:21pm On Jul 01, 2020 |
SmartProf: The government that is punishing the people is the government that was elected by the people. When the people get tired of the punishment, they are free to vote wisely next time, from LGA chairmen, state assemblies, National Assembly, to president. 1 Like |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by OhBiafra: 8:24pm On Jul 01, 2020 |
obailala:Mumu |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 8:25pm On Jul 01, 2020 |
kikero:i just made mentioned of Dangote cement factory. Does the government control the price yet go and find out how much they are paid. Even oil companies have a lot of casuals just to keep the big guys at the top perpetually feeding fat |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Nobody: 8:26pm On Jul 01, 2020 |
Fourwinds: See the last paragraph. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by waslag11(m): 8:27pm On Jul 01, 2020 |
naija my country, just becos interstate movement has started, so the pump price jump up |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by nextstep(m): 8:29pm On Jul 01, 2020 |
Jahwinaboy: Revolution is not necessary... the population has the opportunity to change their leaders, every 4 years. If people can't be bothered to choose leaders based on their capabilities now, what makes you think revolution would change anything? It would just be a different, violent way to pick mediocre leadership. All we need is for the under-40 population to get their heads straight. They are the largest voting bloc in this country, yet they abscond on their responsibility to nominate, promote, and elect good leaders. The last election had the likes of Sowore, Chike Ukaegbu, Donald Duke, Fela Durotoye, yet none of these got up to 1% votes. When people, especially youths, complain bitterly about bad leaders, I can't help but feel angry. They have the power to choose, yet refuse to do so. |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by femakins: 8:31pm On Jul 01, 2020 |
I knew the reduced price will not last long they are just cajoling we citizens. Should dey even think of increasing the fuel price at this trying period for us? God come and deliver our land |
Re: PPPRA Increases Price Of Petrol From N140.80 To N143.80 Per Litre by Fourwinds: 8:35pm On Jul 01, 2020 |
kikero:what is wrong with the paragraph |
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