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Petrol Price Cuts May Force Nigeria’s Inflationary Pressures Down – Economist - Politics (2) - Nairaland 506j5l

Petrol Price Cuts May Force Nigeria’s Inflationary Pressures Down – Economist (14770 Views)

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bigdammyj: 2:01pm On Nov 19, 2024
Noted.
phadul: 2:01pm On Nov 19, 2024
They are talking as if it has gone back to N200 per litre. They will reduce N20 only and continue to to the whole world that prices have come down angry
Newton1045: 2:03pm On Nov 19, 2024
All these English on 5 naira reduction.

Our leaders shud fear God.

U employer an English vocabulary speaker for 5 naira reduction out of 1200
concho(m): 2:04pm On Nov 19, 2024
nairalanda1:


Good, so open your own fuel station and help us out by selling it for N100 a liter.

Paper economist indeed. cheesy cheesy cheesy cheesy cheesy cheesy


It’s ironic how you seem completely broke and entirely dependent on someone else’s (your boss’s) decision for a meager daily meal . You’re content as long as the next meal is guaranteed, and attitudes like yours are the reason our society continues to regress.

Just as Ebola was once believed to target only the wealthy, I sometimes wish for a virus that selectively affects those with severely underdeveloped mental faculties. It’s exhausting dealing with people who lack even the most basic intellectual capacity.

Your personality is utterly repulsive and irritating. Frankly, Obasanjo should have implemented a law requiring a mental evaluation before anyone could own a mobile phone.

Regarding my assertion that you’re broke, don’t try to counter it by typing words; I need tangible evidence. Feel free to prove me wrong in any way you’d like. I’m in

1 Like

descartes400: 2:12pm On Nov 19, 2024
jmoore:
If petrol won't go back to 200 naira a liter, only a clown would expect inflation to stop rising.

It doesn't have to go back to 200 but I do agree that in order to effectively curb inflation, the current price of fuel should drastically reduce infact it should be halved. It will have considerable effect towards spurring economic activities.

Currently, we wake every day with cold sweat because uncertainty pervades the air....while our 'liberal guru' of a president commits economic genocide on the masses to the point IMF are asking FG to rethink economic strategies....Pushing the masses to undertake the journey of the palm-wine drinkard.

1 Like

crossbreedwears(m): 2:15pm On Nov 19, 2024
Let us not decieve ourselves bro. Petrol can't go back to 200 naira in this country. The least it cant go down is 600 naiara which is almost impossible
jmoore:
If petrol won't go back to 200 naira a liter, only a clown would expect inflation to stop rising.
Funkyswagzz(m): 2:18pm On Nov 19, 2024
nairalanda1:


The above is why I don't like Nairaland and nairalanders.

Someone makes a point....and the first response is abuse, abuse , abuse.

Person wey no abuse am, and he is being abusive to the person.

The truth is, there are far to many little kids here. Both agbado and obident. All they do is abuse. Lost in the abuse is any point they want to make.

Anyway, what do you expect? Petrol must be sold at N40 per liter. cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy

See one of his crew member with no brain of his own. Must everything be tribalistic to you can't you think with your brain. Na so una make useless noise about tinubu yet we are yet to see a little improvement. Abeg park one side
ajepako(f): 2:20pm On Nov 19, 2024
Can you imagine?

Drop of N50 in fuel is all we need for inflation to reduce?

Mere N50 that has not even reflected in fuel price abi?

Clowns everywhere
nairalanda1(m): 2:25pm On Nov 19, 2024
concho:


It’s ironic how you seem completely broke and entirely dependent on someone else’s (your boss’s) decision for a meager daily meal . You’re content as long as the next meal is guaranteed, and attitudes like yours are the reason our society continues to regress.

Just as Ebola was once believed to target only the wealthy, I sometimes wish for a virus that selectively affects those with severely underdeveloped mental faculties. It’s exhausting dealing with people who lack even the most basic intellectual capacity.

Your personality is utterly repulsive and irritating. Frankly, Obasanjo should have implemented a law requiring a mental evaluation before anyone could own a mobile phone.

Regarding my assertion that you’re broke, don’t try to counter it by typing words; I need tangible evidence. Feel free to prove me wrong in any way you’d like. I’m in


All this because petrol can't be sold at 40 naira per liter?

1 Like

nairalanda1(m): 2:25pm On Nov 19, 2024
Funkyswagzz:


See one of his crew member with no brain of his own. Must everything be tribalistic to you can't you think with your brain. Na so una make useless noise about tinubu yet we are yet to see a little improvement. Abeg park one side

Well, you are also a wise old man too.

grin
nairalanda1(m): 2:27pm On Nov 19, 2024
Funkyswagzz:


See one of his crew member with no brain of his own. Must everything be tribalistic to you can't you think with your brain. Na so una make useless noise about tinubu yet we are yet to see a little improvement. Abeg park one side

All this because he was called out on using fowl language

He has been seen speaking to chickens every afternoon
Free2Fly: 2:30pm On Nov 19, 2024
omowolewa:
That looks good

What's good? Where's the cut??
Free2Fly: 2:32pm On Nov 19, 2024
Shadomaan7:
Good news ahead for Nigerians. The bad news peddlers have been rendered jobless

Mumu, where's the cut? Una just dey useless

1 Like

nairalanda1(m): 2:33pm On Nov 19, 2024
Something being sold at a profit makes people angry.

So, Nigeria must turn to Lenninst principles to survive!
pryme(m): 2:35pm On Nov 19, 2024
We are led by R-e-t-a-r-d-s.
Peppysco: 2:46pm On Nov 19, 2024
jmoore:
If petrol won't go back to 200 naira a liter, only a clown would expect inflation to stop rising.

Wake up to reality. Fuel price cannot go as low as #200 again. But what I expect a reasonable government to do is to channel all retained subsidy into wealth creation, infrastructural and human capital development. Not forgetting massive investments in security to attract FDI. Provide tax friendly capital for investors to increase output and the overall GDP of the country. But then, I doubt if any Naija president could be that purposeful and intentional, without playing politics with people's lives.

2 Likes

olax02(m): 2:48pm On Nov 19, 2024
Omoawoke:
You carry petrol from 200 and something or what again to 1200,
Then you say you cut price from 1200 to 1050 or so and say the reduction will help Nigerians
These people must have smoked cow dung. so this small reduction will force inflation down? Dey play.
aidoko1: 2:53pm On Nov 19, 2024
What is May?
Bimpe29: 3:02pm On Nov 19, 2024
We have been dazed and mesmerized well enough. Our trust and solace lies with God Almighty.
Reelz: 3:08pm On Nov 19, 2024
Sell dollars at a reduced price to petroleum importers n give waivers to food imports. Simple n short.
Baba goslow
nairalanda1(m): 3:08pm On Nov 19, 2024
olax02:
These people must have smoked cow dung. so this small reduction will force inflation down? Dey play.

Well selling fuel at 200 naira per liter means a subsidy of 800 naira per liter must be paid

Which in the long run means about 70% of our budget would go to subsidy every year.

Which means to pay salaries , contractors and to give states their allawee, government may have to borrow 25 trillion naira at least.

Imagine the wondrous effect it would have on our debt profile.

2 Likes 1 Share

nairalanda1(m): 3:09pm On Nov 19, 2024
Reelz:
Sell dollars at a reduced price to petroleum importers n give waivers to food imports. Simple n short.
Baba goslow

Except that the government doesn't have dollars to give

Plus that's a recipie for more round tripping. Popular during buharis regime and one of the reasons why we even had to remove subsidy in the first place

1 Like

yemmit90: 3:17pm On Nov 19, 2024
jmoore:
If petrol won't go back to 200 naira a liter, only a clown would expect inflation to stop rising.

Petrol subsidy removal is not really the issue now but floating policy.

There is no way inflation will come down with #1700 per dollar.
IbeOkehie: 3:36pm On Nov 19, 2024
CodeTemplarr:
What i have been saying for ages. Will they listen and learn to make amends? I doubt.
A man is hungry and in lack yet CBN is counting on interest rate hike to dissuade such a fellow from spending his meagre income to stay afloat. It can never work.
Cc : Nairalanda1, omohayek, grandstar.

OK, so what is the solution to combat inflation? The man quoted is talking about costs. How to tackle those costs is the question. Any ideas?

Good Luck to Nigeria.

1 Like

CodeTemplarr: 3:52pm On Nov 19, 2024
IbeOkehie:


OK, so what is the solution to combat inflation? The man quoted is talking about costs. How to tackle those costs is the question. Any ideas?

Good Luck to Nigeria.
Cost effect wont go away with interest rate hike.

It is better production inputs are subsidized as well as increase production to swell supply against demand. The last will likely lead to export.
CodeTemplarr: 3:53pm On Nov 19, 2024
Reelz:
Sell dollars at a reduced price to petroleum importers n give waivers to food imports. Simple n short.
Baba goslow
Thats reduced naira earnjng for govt. They dont like that.
Funkyswagzz(m): 3:53pm On Nov 19, 2024
nairalanda1:


All this because he was called out on using fowl language

He has been seen speaking to chickens every afternoon

Abeg shift useless people with zero direction
Baxilexi(m): 4:00pm On Nov 19, 2024
Hopefully someone can help me with the answer.

Why can’t NNPC pay Dangote to refine its crude, move it to storage and then distribute or sell at its benchmarked price?
Dangote is a refinery, allowing him source, refine and distribute solely is just reckless.

NNPC should patronize him but also regulate the sector by being his number 1 competitor.

If indeed we are doing more than 1.8mbpd, why can’t we spare 500mb for local consumption.
Muhylonaire007: 4:29pm On Nov 19, 2024
nairalanda1:


The above is why I don't like Nairaland and nairalanders.

Someone makes a point....and the first response is abuse, abuse , abuse.

Person wey no abuse am, and he is being abusive to the person.

The truth is, there are far to many little kids here. Both agbado and obident. All they do is abuse. Lost in the abuse is any point they want to make.

Anyway, what do you expect? Petrol must be sold at N40 per liter. cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy



Shut up jare ode… there are far too many kids yenyenyen, Akinkanju-ode, shebi youbare an adult, enjoy the 1075 naira fuel in peace na. You been talking through your @nus since, yenyenyen 40 naira, E-Diotic human being. Na everybody be kid, Apoda.
Muhylonaire007: 4:30pm On Nov 19, 2024
Funkyswagzz:


Abeg shift useless people with zero direction

You Dey mind the Ediot….? Very føølish person
nairalanda1(m): 4:38pm On Nov 19, 2024
Muhylonaire007:




Shut up jare ode… there are far too many kids yenyenyen, Akinkanju-ode, shebi youbare an adult, enjoy the 1075 naira fuel in peace na. You been talking through your @nus since, yenyenyen 40 naira, E-Diotic human being. Na everybody be kid, Apoda.


Ah, another chicken whisperer
nairalanda1(m): 4:45pm On Nov 19, 2024
Funkyswagzz:


Abeg shift useless people with zero direction

All because I criticized you for being abusive .

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