Dangote Refinery Slashes Petrol Price to N1,200/litre.

[Jubilee58]

Dangote refinery has rolled back it's recent hike in fuel prices, reducing the ex-gentery cost of Premium Motor Spirit (PMS) by N75 to N1,200 per litre.

Here is the news:BREAKING: Dangote Refinery slashes petrol price to N1,200/litre , more details : https://www.beloud.com/news/131167491

Of a truth, I don't even know how we got to this place. As at 2014, barely 12 years ago, a litre of fuel was about N95 or there about. Then, the economy of Nigeria was better, then even the poor people can even eat three square meal a day. Cost of transportation wasn't too high and cost of living was okay. Today, a litre of fuel is selling for N1,200 and those who are behind this havoc are very happy, and does not even see anything wrong with that.

Removal of fuel subsidy, and high cost of transportation has impacted negatively in the economy of Nigeria, leading to inflation , and economic downturn as high cost of transportation has caused some persons to even withdraw from their jobs, more especially those doing low paying jobs.

What is your take on this?

[Nathrixxx]

All this thing are not going to make a tangible difference from what the market is presenting on us because they are just light difference with no impact on the economy, I don't expect from the first instance to see that the market got to #1,350 pump price, when we are not directly involved in the ongoing Iran Israel war, yet they claim that they are buying the cheapest from dangote, until we have something less than 1,000 naira per liter on fuel pump price before we can see difference being felt on the general economy.

[Crakryptvest]

All this thing are not going to make a tangible difference from what the market is presenting on us because they are just light difference with no impact on the economy, I don't expect from the first instance to see that the market got to #1,350 pump price, when we are not directly involved in the ongoing Iran Israel war, yet they claim that they are buying the cheapest from dangote, until we have something less than 1,000 naira per liter on fuel pump price before we can see difference being felt on the general economy.

The price was at 1250 before dangote dropped it if I'm right, I support what you said, we won't feel anything different, these guys keep joking with us, another problem we are going to face is the price of goods and transportation because as long as I have know this country, we shouldn't expect that even though the price of fuel drop to 1800 they will reduce the price of those things I mentioned because there won't be anybody to monitor them, the people operating in these areas will capitalize on what have been to deal with their fellow citizens, with the help of our government paying deaf ears to these issues, do you think that our government even want the fuel drop? Do you know how much they have shared this period, are they talking, they are much concerned about personal pocket nothing more.

[Agbamoni]

Removal of fuel subsidy, and high cost of transportation has impacted negatively in the economy of Nigeria, leading to inflation , and economic downturn as high cost of transportation has caused some persons to even withdraw from their jobs, more especially those doing low paying jobs.

What is your take on this?

The worst is about to happen as Dangote has cut down some percentage from the price of fuel. First, the price of fuel wont go down below this price, it will become a standard price. Anything that goes up in Nigeria never comes down. Fuel subsidy was removed, not too long ago. Dangote refinery was opened to supply fuel to Nigeria. During the period the announcement was made, Dangote refinery reduced the current price of fuel to attract customers. Just in, the price of fuel increased this year, Dangote refinery has made 3 times what they made in 2 years, which is what they made in 2 months.

[SmartCharpa]

Dangote refinery has rolled back it's recent hike in fuel prices, reducing the ex-gentery cost of Premium Motor Spirit (PMS) by N75 to N1,200 per litre.

Here is the news:BREAKING: Dangote Refinery slashes petrol price to N1,200/litre , more details : https://www.beloud.com/news/131167491

Of a truth, I don't even know how we got to this place. As at 2014, barely 12 years ago, a litre of fuel was about N95 or there about. Then, the economy of Nigeria was better, then even the poor people can even eat three square meal a day. Cost of transportation wasn't too high and cost of living was okay. Today, a litre of fuel is selling for N1,200 and those who are behind this havoc are very happy, and does not even see anything wrong with that.

Removal of fuel subsidy, and high cost of transportation has impacted negatively in the economy of Nigeria, leading to inflation , and economic downturn as high cost of transportation has caused some persons to even withdraw from their jobs, more especially those doing low paying jobs.

What is your take on this?

I don’t know how true this news is all about, but the news I saw this morning was that the price of fuel increased, and some filling stations are selling at 1,350, sometimes you will see a news that the price is decreased by #70 naira, bro what is the difference between 1,350 naira and 1,280? Since the first day tinubu step his foot in that position, we have been suffering from this problem, fuel increased like say I blinked my eyes and opened it, from around #200 to #500 and that is how we got here today.

It’s still surprising that a country blessed with a crude oil is still facing this kind of situation, the fuel prices is the reason why things are getting expensive is this country, as the price of fuel is rising like waiting I don’t know, the price of goods will go up as well, because the transportation is getting more expensive, and tye owners of the business have no choice but to raise the prices of their goods, because they still need to make profit and cover the money they spend.

[Joy_learns_crypto]

All this thing are not going to make a tangible difference from what the market is presenting on us because they are just light difference with no impact on the economy, I don't expect from the first instance to see that the market got to #1,350 pump price, when we are not directly involved in the ongoing Iran Israel war, yet they claim that they are buying the cheapest from dangote, until we have something less than 1,000 naira per liter on fuel pump price before we can see difference being felt on the general economy.

I used to think that we aren’t directly involved in the ongoing US and isreal war so what ever they are doing in that war should not impact Nigeria but what ever happens in that war will impact the world oil price.
The straits of Hamouz is a passage way for 20% of the global world oil the other 80% is spread across the world, 20% from a particular route alone is high also considering that the rest of the world shares 80%.
The price of oil is more unified than you think, the hike in oil prices caused by effects from the 20% route will be felt even in places like Nigeria.

[Marykeller]

What is your take on this?

We are in a mess in this country. How can citizens be increasing the price of things as they like without the government interfering in it, for them to have a change of heart.

I hate it with passion as our government does show "I don't care attitude" in almost everything regarding their price tag. How can Dangote increase the price of petrol, knowing full well that it will bring much hardship to the citizens of the country, as petrol is needed for many things in this country.

It's disheartening that we find ourselves in this terrible government that doesn't care about its citizens, only corrupt practices they know of.

[Biirakedee]

I agree with your point that fuel price affects almost everything and the moment it goes up like this everything in the country starts to increase. So even the reduction may not really be felt immediately. The part about subsidy removal also played a big role while some say that it was necessary, the reality is that the effect of it hits different hard especially those with low income but at the same time I feel like we should also look at sustainability, the problem now is that the adjustment in price came without enough support to stop the effect. So it’s not just about the price dropping slightly but whether we can actually feel relief in our daily expenses. The reduction is good though but until it reflects in transport and food price, I believe we all wont really feel the difference.

[OsaiEmma]

Dangote refinery has rolled back it's recent hike in fuel prices, reducing the ex-gentery cost of Premium Motor Spirit (PMS) by N75 to N1,200 per litre.

Here is the news:BREAKING: Dangote Refinery slashes petrol price to N1,200/litre , more details : https://www.beloud.com/news/131167491

Of a truth, I don't even know how we got to this place. As at 2014, barely 12 years ago, a litre of fuel was about N95 or there about. Then, the economy of Nigeria was better, then even the poor people can even eat three square meal a day. Cost of transportation wasn't too high and cost of living was okay. Today, a litre of fuel is selling for N1,200 and those who are behind this havoc are very happy, and does not even see anything wrong with that.

Removal of fuel subsidy, and high cost of transportation has impacted negatively in the economy of Nigeria, leading to inflation , and economic downturn as high cost of transportation has caused some persons to even withdraw from their jobs, more especially those doing low paying jobs.

What is your take on this?

It weirds me out to experience what is happening now most especially with fuel price. I remember very well during Goodluck's tenure when he removed fuel subsidy and fuel went up to 80 - 90 naira if I'm not mistaken. The whole country, including some political figures fought him tooth and nail to reverse it. His intentions were good, he planned on channeling the subsidy funds to some other sectors of the country for the betterment of the country. But we all refused, honestly,.I wasn't against it then, I thought it was a good idea but no, we all refused.

Now, something even worse is happening, I think we deserve it, yes we do, we pushed out a good leader, we mocked his wife, we criticized his leadership, we called him a woman. Now let a man lead us.

[DYOR+BTC]

The dramatic reduction and increment of petrol price by the dangote refinery is just a strategic plans of gaining trust from the Nigerian government thereby eliminating competitiveness and increase monopoly in the petroleum sector.  Since the existence of the dangote's refinery all they wished for is just to take domination in the petroleum sector and deny all the nation access to competition in that sector which i see as a pending danger that is worse than a time bomb.  The reduction that was experienced in the petrol price is just a strategic plans to lure the nation into choosing them as the only alternative in the petroleum distribution that i know must definitely backfire if they accept such offer.

[9ja Amaka]

Of a truth, I don't even know how we got to this place. As at 2014, barely 12 years ago, a litre of fuel was about N95 or there about. Then, the economy of Nigeria was better, then even the poor people can even eat three square meal a day. Cost of transportation wasn't too high and cost of living was okay. Today, a litre of fuel is selling for N1,200 and those who are behind this havoc are very happy, and does not even see anything wrong with that.

This situation we are right now just shows how bad the government has been over the years. Imagine as at 12 years ago the price of fuel is just N95 and its now N1200 per liter. The government of today will claim that it's because of the removal of subsidy,  but my question is what are they doing with the money that is removed for subsidizing fuel, my honest answer is nothing, rather they just remove it an out it in the pocket to enrich them self. I don't just call this corruption,  but I call it wickedness on the side of the government, because they can see how the people are struggling to make ends meet, instead of them to find a way to ease the pain on the people, they rather make policies that will help kill the people the more.

[Decimetre]

Dangote refinery has rolled back it's recent hike in fuel prices, reducing the ex-gentery cost of Premium Motor Spirit (PMS) by N75 to N1,200 per litre.

Here is the news:BREAKING: Dangote Refinery slashes petrol price to N1,200/litre , more details : https://www.beloud.com/news/131167491

Of a truth, I don't even know how we got to this place. As at 2014, barely 12 years ago, a litre of fuel was about N95 or there about. Then, the economy of Nigeria was better, then even the poor people can even eat three square meal a day. Cost of transportation wasn't too high and cost of living was okay. Today, a litre of fuel is selling for N1,200 and those who are behind this havoc are very happy, and does not even see anything wrong with that.

Removal of fuel subsidy, and high cost of transportation has impacted negatively in the economy of Nigeria, leading to inflation , and economic downturn as high cost of transportation has caused some persons to even withdraw from their jobs, more especially those doing low paying jobs.

What is your take on this?

How we take reach this stage. So na #1,200 be price wey we suppose dey rejoice for? This government just dey use Naija people dey catch cruise because na the only thing wey me I see. Oya, make we forget 2014; for 2023, Buhari leave for around #300, so just in less than 3 years time, we don dey used to this hardship and the media get mind to dey talk say #1,200 na breaking news. I just tire for this country, fuel wey we get na wetin wan kpai a common man. If na like this renewed hope be, make we leave the hope as e take be before o.

Inflation just dey go every day and e be like say these leaders no even send anybody papa. If this fuel price continues like this, one day you go see another breaking news: Dangote slashes fuel price to #10,900. Nigerians go still survive.

[Biirakedee]

How we take reach this stage. So na #1,200 be price wey we suppose dey rejoice for? This government just dey use Naija people dey catch cruise because na the only thing wey me I see. Oya, make we forget 2014; for 2023, Buhari leave for around #300, so just in less than 3 years time, we don dey used to this hardship and the media get mind to dey talk say #1,200 na breaking news. I just tire for this country, fuel wey we get na wetin wan kpai a common man. If na like this renewed hope be, make we leave the hope as e take be before o.

Inflation just dey go every day and e be like say these leaders no even send anybody papa. If this fuel price continues like this, one day you go see another breaking news: Dangote slashes fuel price to #10,900. Nigerians go still survive.
[/quote]
I feel you, no be small frustration so, how #1200 take be good news Abeg? E just show us how bad things done really change for the country. From around #97 even if na the #300 we still wan talk, no be something wey de easy at all for average Nigerian. The breaking news part sef funny but painful because even with d small reduction, people still no de feel am at all cos everything still de on a high. The real talk be say, how we take reach this point and why people still never see relief . And that your talk say Nigerians go still survive anything, na true but e no mean say everything de okay.