trillville:


This is an end game scenario.

The main issue government should be concerned with is not increasing supply of petrol but saving scarce dollars as well as reducing the fuel queues. Fuel queues also get reduced if fewer people can afford to purchase fuel. I believe this is final junction.

Government has three options of diminishing demand for petrol and save dollars in the short run.

1. Fire government workers: upper and middle class will be affected the most.
2. Devalue the naira: all nigerians will suffer and it will take several years for nigeria to recover from this event.
3. Continue to increase the price of petrol until nigerians protest: I believe this is the safest choice for now.

If the FG increases the price of fuel further under the pretense that 145 isn't sufficient to encourage marketers, would nigerians protest?

If nigerians choose to protest government will then insist on implementing oronsaye's bill on reform and at the same time offer a 45000 minimum wage to workers that survive the blood shed.

The fg had thought that at 145 nigerians would protest so the fg could make its devil's bargain. Nigerians however are so used to suffering, we completely ignored the price hike.

Seriously, I just don't know when all these will end.

As u have hinted out, and haven chose the option 3, they just forgot the the price of petrol kinda determines the price of every Damn commodity in the market.

As for not devaluing the naira, I think they kinda did that already few days ago, through the back door though, what do u expect when they threw the fx market to open to all to be determined by the market forces?

Confusion everywhere in dis country.d spirit of nation building is far from many Nigerians.everyone only cares abt his pocket n his family.we should stop deceiving ourselves we r d problem of ourselves.

Keneking:
They can do whatever they want...

ya let them cintinue. we dont depend on them but on God

It is going to b well

Our so called leaders are confused. Today you will hear one statement and by tomorrow a different statement from the same set of people. Am tired of all these stories.
When FG wanted to increase the pump price of petrol, all they needed to do was to allow the price to be open without pegging at 145. Let the market determine the price. FG knew very well that the problem is the availability of dollars not to cost of dollar to naira. Marketers were told to source dollars from any where knowing fully well that our balance of payment is in bad shape. Where are they going to get the dollars irrespective of the price to naira? How do expect a marketer who managed to get the dollar at higher price to sell petrol at the ceiling price of 145. FG is a joke

Buhari does not understand how this particular petro-dollar economy works, neither does Kachikwu, apparently. The government advisers who understand are either making money out of this confusion by not doing their job, or they're talking & this Buhari-Kachikwu team is not listening to them.

First of all these independent marketers need to be kicked out of the importation process. They can't get forex to fund their activities unless CBN spoonfeeds them, so they're actually a liability to the process. And they are too greedy. Their markups are opaque & obviously unreasonable. That's why they confused govt to increase prices, they knew all along that they have zero access to funding.

Let NNPC deal only with the majors regarding the 50% importation balance (if the majors agree to, which is unlikely) or set up a holding company and establish a reasonably transparent crude-for-PMS swap deal with refineries offshore. This would be a temporary solution to supply issues, while the govt works out the mechanics of full deregulation and looks for ways to attract investors to build refineries.

Buhari-Kachikwu have made Nigerians suffer needlessly by hiking the price to n145/litre, there was absolutely no reason to increase pump price. No reason at all.

What is wrong with this Jonathan self, he stole everything about Nigeria even the dollar self he nor live for us. We must prosecute NOI for stealing all the dollars. In fact, Diezeni must be arrested for setting a pace that is insurmountable. Jonathan's wife must bring back all the money she stole and Saraki must bring back those properties he failed to declare.

Please add up to the list of people we are to blame for this colossal failure of Joe Igbokwe's party, the man who doesn't know when his party took over power from the corruption personified Jonathan.

trillville:


This is an end game scenario.

The main issue government should be concerned with is not increasing supply of petrol but saving scarce dollars as well as reducing the fuel queues. Fuel queues also get reduced if fewer people can afford to purchase fuel. I believe this is final junction.

Government has three options of diminishing demand for petrol and save dollars in the short run.

1. Fire government workers: upper and middle class will be affected the most.
2. Devalue the naira: all nigerians will suffer and it will take several years for nigeria to recover from this event.
3. Continue to increase the price of petrol until nigerians protest: I believe this is the safest choice for now.

If the FG increases the price of fuel further under the pretense that 145 isn't sufficient to encourage marketers, would nigerians protest?

If nigerians choose to protest government will then insist on implementing oronsaye's bill on reform and at the same time offer a 45000 minimum wage to workers that survive the blood shed.

The fg had thought that at 145 nigerians would protest so the fg could make its devil's bargain. Nigerians however are so used to suffering, we completely ignored the price hike.

It's quite obvious that the government has to retrench at least 50% of the labour force at federal & state levels. Most of these civil servants are underemployed, the hardworking ones are running their private businesses alongside their government jobs, the slackers are just enjoying the ride. Well the joyride has now come to an end. Goodluck 'Fortunato' Jonathan's profligacy ensured that.

The downsizing is the real change apc was talking about, the hard one, only apc themselves didn't know it. The oil & gas sector has downsized already, FG has to do it too, because oil & gas is the real paymaster, not the Federal Government.

They have to devalue the naira too, let the banks sink or swim. Either way the forex rate dichotomy has to stop because its only feeding the wrong set of ba$tards, the fat cats in the CBN and the treasury staff of the banks. Nigerians have already absorbed the full effect of devaluation as a result of the forex scarcity and the fuel price hike. It can't get much worse than this on the streets.

ok

chigoizie7:
FG are so daft.

1st u calculated @ d template of 300/$ to arrive @ N145. Good.

2nd, u allowed the value of naira to dollar to be determined by the market when u really don't have enough dollars to go around. In this case, the demand outweighs the supply, automatically, the price will increase which means, if it increases and the marketers are able to get fx finally @ above 300/$ will they still sell @ N145?

FG make una ask una selves that question.no business man will want to be @ lose here.


The problem of this govt is that they make policy "A" today, and then they make policy "B" the next day, a policy that will counter policy "A" entirely.

Their inconsistency has made everyone to stand and be watching them. They are not organised @ all, CBN governor, finance minister, petroleum minister. Are all working differently, they should be working together to avoid this their policy and counter policies.


To me, this government in power is not competent enough to run the affairs of this nation.

You've said it all. Only sycophants and ethno religious bigots will keep praising the present government.

The voodoo economics of the Daura President would soon be exposed for the deceit its all about.

Thanks God the price of crude has risen slightly in the world market we will see what becomes of the so called subsidy removal.

We DEY Wait

idupaul:
The way it's going I see Buhari being disgraced

jesu....e fit be oooo

Your right... But with the refineries working you can let the market determine its price.. For instance, stations in kd can sell as 50/lit and zamfara can sell at 60/lit.. Ie 10 Maria covering the cost of transportation.. The major ish is just the refineries.. Once our refineries and region deports are fixed.. All this issue will reduce

ThundrCork:


Even with refineries, without subsidy price of fuel will be high or unavailable. No refinery will want to sell fuel below international rate. They would rather export it to neighbouring countries to make more profit

Forget anything like Oil Cabal.. This is pure business for the marketers and they are not committing any crime.. They are in the business to make money and not lose...

nezer83:


Why are the OIL CABALS still working free and holding Nigerians to ransom, i thought a sheriff is in town to tame them by his body language abi na body odour.

It's called security public enterprise my friend.. The oil sector is too sensitive and the government is scared private individuals will exploit Nigerians.. Which I think will happen really soon

chuberg:



Must we import? Can't the govt allow private refinery to be build in these country. Some state and men in this country can build it without the FG assistance.

Very funny.... All the big marketers with exception of Maybe FO and AARano outsource their logistics to smaller oil marketers that majors in haulage.. Eg total has over 50 different oil transporters that transport products round Nigeria

Goke7:


only folks like Total, Oando, Mobil and other serious marketers who have all their logistics in place with good organisation can cope with the post subsidy regime, those mushroom marketers that hire tankers with two tires na dem go hear am pass, come to apapa, all those rickety tankers are no where in sight, na subsidy de carry them all these while.

Banks get their dollar from CBN and CBN is already complaining self..

EazyMoh:

I have no idea what you are talking about. Can't they get the dollars from the banks at N280/1$ or are telling me even the banks don't have the dollars?

VENEZUELA

Have followed your post all thru.. You really have never done any business in your life..

Goke7:


Do you work there? If subsidy removal can't keep it running anymore it can be converted to a church, na today?

We kept warning Nigerians about all these things but the stupidd ones that voted for buhari kept calling us wailers ,now who is wailing

Institutions should arise that allows the common man participate in a mutual fund that sources for funds for fuel importation. The turn over rate is fast and at a minimum of 100k with say 10% return in 2 months lots of Nigerians would participate. We don't need the marketers, we can make more millionaires through this process and forget the BIG BOYS.

We shall cross this bridge and the enemies of Nigeria shall be disgraced. All I see is opportunity my brother, if the marketers renege, other Nigerians shall take the opportunity. No one/group of People can keep this Nation down.

onatisi:
We kept warning Nigerians about all these things but the stupidd ones that voted for buhari kept calling us wailers ,now who is wailing