The history of fuel price hike in Nigeria

[sokani]

Source: https://www.researchgate.net/figure/History-of-Fuel-price-Hike-in-Nigeria_tbl1_324259601

As I stumbled on this pic, I come remember wetin my papa been tell me about the beautiful old days. How things be dey cheap during their time. How our papas dey tell us with joy how them buy black & white TV for N2, how dem buy motor for N10, how dem buy fridge for N3 etc. Say life been dey sweet that time. I know say when I been dey primary school if you carry N50 go school you be big boy but now things no dey like that because of many reasons. As I go through this table I come see how the fuel prices don increase over the years in the different military and civilian administration. We know that there's high inflation rate worldwide, but could it be the major cause of hike in fuel price in Nigeria? Do you believe that fuel price at some point might go down? is the hike in fuel price in recent years justified?

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[cytpoway121]

Do you believe that fuel price at some point might go down? is the hike in fuel price in recent years justified?

Fuel scarcity and inflation in naija is man made and has nothing to do with global economic recession. The pattern is clear and easy to read as a nigeria.

A: FG tells NNPC to increase fuel pump price
B: NNPC refuses and blame marketers and cause artificial scarcity
C: Marketers blame FG and sell at exorbitant prices leaving citizens with no alternatives
D: FG comes out as an avatar, increase pump price and act as the savior
E: Rinse and repeat

Hopefully, the people do justice at the polls in february

[Dr.Bitcoin_Strange]

CryptopreneurBrainboss has already created a thread concerning Nigeria's fuel scacity discussion on this board. https://bitcointalk.org/index.php?topic=5431983.0,
There is no need to create this thread; you should just add your contribution to the formal thread.

[Obari]

I come remember wetin my papa been tell me about the beautiful old days. How things be dey cheap during their time. How our papas dey tell us with joy how them buy black & white TV for N2, how dem buy motor for N10, how dem buy fridge for N3 etc. Say life been dey sweet that time

I doubt if life been dey sweet that time comrade as compared to now. I understand say the prices of things don really dare now but the truth be told say no matter how things cost now we no suppose use now the compare with the past especially with the ways of life and I wan also let you know say as at then, trade by batter been dey and the value of money been dey very high because even with the #10 naira wey you say them been dey buy motor, you go agree with me say e no still easy for them because if e been easy, almost all if not all of our grand and great grand parents for get cars even more than one.

We know that there's high inflation rate worldwide, but could it be the major cause of hike in fuel price in Nigeria? Do you believe that fuel price at some point might go down? is the hike in fuel price in recent years justified?

Yes inflation na one major cost of the hike in price of fuel price.
And yes fuel price go also come down someday if the necessary measures are been taken into consideration.

CryptopreneurBrainboss has already created a thread concerning Nigeria's fuel scacity discussion on this board. https://bitcointalk.org/index.php?topic=5431983.0,
There is no need to create this thread; you should just add your contribution to the formal thread.

Chairman we dey in this stuff together and I believe say even our boss @brainboss don also see this thread but no cap because we dey try grow this board together so I no really see the need of talking OP down and beside I no really think say the both threads dey tackle same thing.

[sokani]

I doubt if life been dey sweet that time comrade as compared to now. I understand say the prices of things don really dare now but the truth be told say no matter how things cost now we no suppose use now the compare with the past especially with the ways of life and I wan also let you know say as at then, trade by barter been dey and the value of money been dey very high.

I know say the value of naira been dey very high that time but I disagree with you sir... From wetin we dey see now I doubt if things be better pass before. The only thing wey we dey enjoy now na technological advancement.

...And yes fuel price go also come down someday if the necessary measures are been taken into consideration.

For naija, price of commodites dey defile the law of gravity. if price go up e no dey come down again... But we gats dey optimistic and believe the common man prayer say one day e go better and I dey look forward to that day  wey the price of things go try come down.

[Nobility17]

The table shows a progressive increase, which agrees with the saying "anything that goes up doesn't come down in Nigeria" The truth is that until the refineries in Nigeria starts working then fuel price is not coming down anytime soon. The only bad thing be say na d poor masses dey suffer pass 4 everything. God go help us.