Fuel price rockets: Happy New Year from Jonathan
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Posted by Felix Okoli on January 02, 2012 at 05:18:28:
In line with the President's stand on the stoppage of fuel subsidy, fuel price has been officially deregulated and Nigerians are feeling the pinch already. The price rocketed to about N140 at filling stations across Nigeria although, it was originally a bit scarce and sold by black marketers for higher. It seems that the Independent Petroleum marketers have already added their prices to the product. Initially there was a bit of scarcity in cities across Nigeria as fuel price increased by more than 100% in the black market. The price for fuel at filling stations in 2011 was at around N65 per litre but as the new year breaks, it has reached over N140 per litre. There is a lot of panic in the country as prices of most other items are on the increase too. From transporters to retailers, everyone is increasing their prices and it seems the last people that would feel this burden are final consumers. Only God knows how this petrol induced inflation would last but it would really have an effect on Nigeria's economy for the first quarter of 2012.
It seems this is Jonathan's gift to Nigerians for the new year.
Comments:
In line with the President's stand on the stoppage of fuel subsidy, fuel price has been officially deregulated and Nigerians are feeling the pinch already. The price rocketed to about N140 at filling stations across Nigeria although, it was originally a bit scarce and sold by black marketers for higher. It seems that the Independent Petroleum marketers have already added their prices to the product. Initially there was a bit of scarcity in cities across Nigeria as fuel price increased by more than 100% in the black market. The price for fuel at filling stations in 2011 was at around N65 per litre but as the new year breaks, it has reached over N140 per litre. There is a lot of panic in the country as prices of most other items are on the increase too. From transporters to retailers, everyone is increasing their prices and it seems the last people that would feel this burden are final consumers. Only God knows how this petrol induced inflation would last but it would really have an effect on Nigeria's economy for the first quarter of 2012.
It seems this is Jonathan's gift to Nigerians for the new year.
Comments:
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Re: Fuel price rockets: Happy New Year from Jonathan
Posted by Afolabi Julius
on January 05, 2012 at 06:45:47:
very unfortunate this happened on a day that makes it mixed feeling for Nigerians. i understand that cutting edge leaders make uncommon decisions but not without appropriate analysis and well structured palliatives over time.
the removal is untimely.
income level hasnt changed yet cost has soared. what happens to survival? the people have not changed , how do we expect system to change. 1600 buses for 160m people? railway system is not an immediate solution. i thought the sectors immediately affected by the PMS should have first been palliated before announcement of price hike not until reactions. it shows their lack of indepth analysis which we cant guarantee how many more flaws will show up in their planned palliative! you cant bring change without the foot soldiers (common man) because he is the one that will not care to destroy because he has not much to loose afterall he may not have benefitted anything from the myopic government. i expect the EMT to resit and rethink and readvise commencement of removal. the curruption in our country may not make us believe the palliative will see the light of the day if we have not done anything to those who looted us in the past. it is just a beaten track." a leader who want to be great must have the tactis of a slave. it was difficult for government to pay minimum wage but it was easy to remove subsidy! we save to enrich others. VERY UNFAIR!!! i know a revolution will come someday!
Re: Fuel price rockets: Happy New Year from Jonathan Posted by mudashir kamil adekunle on January 11, 2012 at 08:59:22: i think Nigeria government can think deeply to see the effects of increase in fuel price. now where is our positioned.
Re: Fuel price rockets: Happy New Year from Jonathan Posted by GARRY on January 18, 2012 at 11:18:25: Should Jonathan government be trusted?