I think this might be the good thing, cos Nigeria needs some hard reality to look for other ways to generate money, and boost the economy of that nation.
Secondly, at present Nigeria's budget is based on gas being sold at 30 something naira a litre and even for the next budgeting, they are still talking of 45$ per litre, so Nigeria is still in good shape, but regardless, Nigeria needs a hard reality check.

pls look at those nations who dont have oil but are living very well , even most of them are on the top list of developing nations or developed nations. please, who are we fooling the problem is not the price of oil, the problem is the mentality of average nigerians.
even countries with oil are doing well. very well wikth good infrastructure and such. why not nigeria.
wat i meant by wat i said is dat nigerians need 2 face d bull by d horn, so many cowards here- pls say d truth in reality and try 2 do bettter , that bis the only way we can move forward
tell your governors to emulate fashola and those not doing well, threaten them that they will be removed or u wud do a sit at home for the individual

i beleive these stae governors should be removed for lack of profitable activities
oyo
osun
ondo
ekiti
taraba
benue
and most of the northern governers
i almost fell out of my chair while laffing when taraba stae government wanted to enhance tax collection,
for God sake who does he want to tax- the farmers

Olaolufred:

When Crude oil was increasing,OBJ was also increasing the local price of PMS(petrol).
The pain on the masses was so excrutiating, but the chimpazee did not border an inch.
His point through his Minister was that the cost of Importation of Refined product increase
as the international crude price increases.
I thank the Living God now that the price is falling by almost $100 per barrel. So, the
local price for PMS should come back to #10 per litre.
If this do not happen, the OBJ is a lier. PDP is a committee of rogue and robbers.

I am deeply dissappointed that an educated person would make this kind of comment (assuming you're educated).
Whenever in doubt, seek knowledge.
Do you know anything at all about the subsidy on petrol. Do you know why the PPPRA was created. Are you aware that the 70 naira per liter is a fixed price based on heavy subsidies by the govt and dialogue between downstream importers.
Yes, crude prices are down. Let me ask you one question,
Why didn't petrol move from 70 naira per litre to 120 naira per litre when crude hit $140 per barrel?
If the price of petrol needs to come down, it would be as a result of the govt, negotiating their subsidy. The price of crude has to go down to the point where the subsidy is not needed for you to see an automatic drop in prices.

"let the oil fall to 10 cents a gallon sef.
maybe then we can "hear something" from those militants on speed boats"

ha ha ha!! thats a good one bros, at least we start looking into the other
sectors for way out, farming as an example, money dey dia o!!

O Lord please come and take your Oil away,human beings have turned your free gift into weapons of war. Some are worshipping the mineral resources that you created and gave to them rather than you They don't even pay tithe for all they are enjoying.There is no peace in Nigeria because of Oil !!!!. small children are being kidnapped, ladies are being raped, the earth is crying "i have had enough blood, I'm tired of drinking !!!", even some of your prophets have become prophets of Oil. O Lord have mercy and take this thing away .  Nigeria has refused to develop, refused to have any form of integrity,shuns all that is reasonable and decent, lives in fools paradise,calls herself giant of Africa when she is really a dwarf,divorced the spirit of Love perpertually, exalts mediocrity more than diligence,excellence and wisdom, institutionalised witchcraft and all manner of wickedness that you said are abominations unto you, all because of one silly thing called Oil !!!. Lord , Do you know that Oil is worth more than human life in Nigeria, O Lord we are in pains, serious pains, please hasten and deliver us from the bondage of Oil, for it has become a curse to Nigeria.

Anxiously waiting for your faithful answer, as i pray in Jesus name - AMEN.

Aso rock

_{I am deeply dissappointed that an educated person would make this kind of comment (assuming you're educated).
Whenever in doubt, seek knowledge.
Do you know anything at all about the subsidy on petrol. Do you know why the PPPRA was created. Are you aware that the 70 naira per liter is a fixed price based on heavy subsidies by the govt and dialogue between downstream importers.
Yes, crude prices are down. Let me ask you one question,
Why didn't petrol move from 70 naira per litre to 120 naira per litre when crude hit $140 per barrel?
If the price of petrol needs to come down, it would be as a result of the govt, negotiating their subsidy. The price of crude has to go down to the point where the subsidy is not needed for you to see an automatic drop in prices.}

If you have a mango  plantation and your household enjoys eating a few mangos from your plantation, do you tell them that you are subsidizing mangos for them even though  they help you work and harvest your plantation?  How can Nigeria subsidize what belongs to her? Do people in Nigeria get paid in dollars because oil trading is dollar denominated? How about 400K barrels NNPC gets for local consumption?

I like you knowledge on PPPRA, what does it cost refine a barrel of crude? What doe it cost to buy a liter of PMS in OPEC countries? Are you aware that Nigeria has the highest pump price among OPEC countries? Should Nigerians be made to pay for ineptitude of NNPC management that has refused to make all Nigerians refineries fully functional at maximum capacity?

adconline:

Aso rock

_{I am deeply dissappointed that an educated person would make this kind of comment (assuming you're educated).
Whenever in doubt, seek knowledge.
Do you know anything at all about the subsidy on petrol. Do you know why the PPPRA was created. Are you aware that the 70 naira per liter is a fixed price based on heavy subsidies by the govt and dialogue between downstream importers.
Yes, crude prices are down. Let me ask you one question,
Why didn't petrol move from 70 naira per litre to 120 naira per litre when crude hit $140 per barrel?
If the price of petrol needs to come down, it would be as a result of the govt, negotiating their subsidy. The price of crude has to go down to the point where the subsidy is not needed for you to see an automatic drop in prices.}

If you have a mango plantation and your household enjoys eating a few mangos from your plantation, do you tell them that you are subsidizing mangos for them even though they help you work and harvest your plantation? How can Nigeria subsidize what belongs to her? Do people in Nigeria get paid in dollars because oil trading is dollar denominated? How about 400K barrels NNPC gets for local consumption?

I like you knowledge on PPPRA, what does it cost refine a barrel of crude? What doe it cost to buy a liter of PMS in OPEC countries? Are you aware that Nigeria has the highest pump price among OPEC countries? Should Nigerians be made to pay for ineptitude of NNPC management that has refused to make all Nigerians refineries fully functional at maximum capacity?

Okay, now you're just being silly.
I replied his comment because he made a very silly comment as well.
Obviously, petrol should be cheaper in Nigeria since crude oil is abundant but facts are facts. it is not.

You stated that nigeria has the highest pump price amongst OPEC countries. How many of these OPEC countries have 20-30% refining capacity.
Why do nigerians like being so ignorant. THe pure fact is that we lack the refining capacity to satisfy consumers. Same way NEPA lacks power generation capacity.
Did you notice that the price of diesel as dropped since crude oil prices dropped!!!!!!!!!!!!!!!!!Thats because diesel is fully deregulated.
Please if you just want to be senitmental then hit the bush otherwise lets talk facts here.
Your example of mangos is plain "tales by moonlight'. Story story.
Until we are able to refine crude oil locally, petrol will continue to be expensive in nigeria. End of discussion.

the economy will always be under threat because we are still been ruled by MILITANTS.

whether oil drops to 1cent, the economy will continue to be threatened cos there are no deterrants for the rogues we have as rulers.

lets copy china . you steal money , you get one bullet . no long thing.

And now, with the price hovering around 92 dollaars (91%) is Nigerian economy fully recovered?