Wednesday, September 09, 2020
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ReplyDeleteSame circulated old leaders who have nothing to offer
DeleteNaira plunged deeper against the dollar again this week. The price of fuel needed to go up or Buhari will need to start paying subsidy again. If this trend continues, only God knows how much PNS would retail for in the next few months.
ReplyDeleteThank you very much Sapio_Jules,
DeleteAlhaji Atiku Abubakar knows this but he is a politician and likes to play to the gallery. Mainly because he knows that the average social media user will not bother with doing a little research, if it has nothing to do with memes and jokes.
To respond to the jamb question for those that aren't interested in Alhaji's politics;
As a businessman he knows that exchange rates affect prices.
Please do the maths @306 vs 385.
At the peak of the pandemic crude prices dropped to as low as $15-$20, then exchange rate was still N306/$, hence petrol pump price was reduced to below N130 without subsidy. Alhaji Atiku didn't post any cryptic messages or WAEC questions when this was done. Twice.
In the present reality of crude @ over $40 and "official" exchange rate of N386, PMS pump price is a reflection of all these factors.
It'll be a rough beginning. But it's time for this deregulation. The elites and beneficiaries of the subsidy are the ones sponsoring the noise. Like the MNO's(Mobile network operators), the prices will crash out eventually.
Thank you.
*PMS
DeleteAll of una no be the same thing? When you are outside its sweet to criticise.
ReplyDeleteStart a protest,lead a protest and see if we will not join you. Occupy Nigeria does not want to occupy again because they know its a matter of death and life if you say pim
ReplyDeleteThe real people that staged the occupy Nigeria protest few years ago are now the people truly occupying Nigeria. All the others that poured into the streets were just pawns in their hands.
DeleteGod bless you for this post.
DeleteNo be dem cause am? See thief dey ask thief questions.
ReplyDeleteAtiku na so buhari complain when GEJ be presido.
ReplyDeleteIf you win 2023 we fit buy am 400 and Tinubu go come complain his own.
All of una na the same.
Like Ceaser dey always talk, na make person arrange his kpali Japa comot for naija sure pass.
Biko leave us alone o. Na only Jamb question you have seen and you are complaining. We will soon see old GCE questions without calculator. Are you not amongst those who forced Buhari on us in 2015?. You all wanted Goodluck out by all means. Was it not your private jet he used for campaign? Answer the jamb question yourself biko. Una want us to carry placards because of fuel and electricity increase. Na lie. NEVER. A mudu of local rice as at yesterday is 1k. My joy is that the price of garri and rice is not different for those who voted Goodluck and those who voted Buhari. Woe to all those pastors who donated money to Nigeria for covid-19 while there members are wallowing in abject poverty. Give us our daily bread oh lord. God Almighty! na your love, protection and provision sure pass. Na CHANGE una want. Na the CHANGE be this. Deal with it.
ReplyDeleteI am just tired of these our corrupted leaders. They always know what to do when not in power immediately they become leaders like this they'll just be misbehaving... mtcheeew
ReplyDeleteSee his long mouth like questions begs answers.
ReplyDeleteYou all are cut from same wrapper.
ReplyDeleteNo sir, your economics is a bit faulty, because you have not considered:
ReplyDelete- the proportion of subsidy per liter of fuel
- the fact that we import most of what we consume
- the deterioration in the exchange rate
When you consider these 3 factors (plus others I haven’t mentioned) you will see our deteriorating Naira counters any drop in the price of refined fuels. Also, the subsidy per liter was already too high. If there wasn’t any subsidy abinitio and prices were originally as high as they should be, you may find that the other 2 factors may have resulted in a small net movement above or below (since we still import); so now we still need to contend with covering the subsidy gap.
You and Jonathan should have had the balls to take off subsidy on fuel In 2013, but you let people blackmail you. This is one of the few things Buhari has done that I support 100%.
No sir, your economics is a bit faulty, because you have not considered:
ReplyDelete- the proportion of subsidy per liter of fuel
- the fact that we import most of what we consume
- the deterioration in the exchange rate
When you consider these 3 factors (plus others I haven’t mentioned) you will see our deteriorating Naira counters any drop in the price of refined fuels. Also, the subsidy per liter was already too high. If there wasn’t any subsidy abinitio and prices were originally as high as they should be, you may find that the other 2 factors may have resulted in a small net movement above or below (since we still import); so now we still need to contend with covering the subsidy gap.
You and Jonathan should have had the balls to take off subsidy on fuel In 2013, but you let people blackmail you. This is one of the few things Buhari has done that I support 100%.
F**k all ya'
ReplyDeleteMtcheeeeew
ReplyDeleteHi Stella. Can you or any of the BCs very familiar with the economics of oil post an article to educate us on the correlation between oil prices in the country, crude oil prices and the effect on foreign currency.
ReplyDelete