N145 pump price will crash in three months- APC chairman says | Welcome to Linda Ikeji's Blog

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Saturday, 14 May 2016

N145 pump price will crash in three months- APC chairman says

The leadership of the All Progressives Congress APC says the new N145 pump price of petrol will crash within thhe next three months. In a media briefing with newsmen in Abuja yesterday May 13th, the Chairman of the party, John Odigie-Oyegun, says just like the Global System of Mobile telecommunication, GSM, the price of fuel is bound to reduce due to competitive market forces.

According to him:
“From our point of view as a party, it has become necessary to fully and in order to recover from the economic situation which we have been plunged to totally free the economy and let the normal laws of demand and supply operate. Of course, with government standing by to protect the long suffering Nigerian who is at the margin. If is unfortunate, it is painful what has happened, it will increase cost in all directions. But in the medium term, in three months at best, I foresee that the prices will come crashing down when there is availability. NNPC will continue to be in the field anyway either through the refineries whenever our pipelines are allowed to function or through importation and so will continue to be a player in the fuel supply market. Prices are bound to come down. A typical example is what happened when mobile phones were introduced. I remember that I bought a SIM card for over N30,000, but today, it is virtually free. If we free the fuel market, that same thing will happen which was as a result of competition is likely to happen. “Over time, the subsidy regime has become so intensely manipulated, so abused that it really was no longer operating in the interest of the Nigerian public. 
I think that it has become very clear that the kind of queues that has become endemic over several regimes in this nation is a clear indication that something has gone seriously wrong with the subsidy regime. Those who were privileged were exploiting it to amass more wealth. Meanwhile, the people for whom it was basically meant had to bear the cost in higher transport fare. Each time these queues develop, of course the ordinary Nigerian bears the cost while the importers and manipulators of the system are the ones that makes all the money. If the region of subsidy is to be reintroduced, it can only divert resources from the crying needs of other sectors, including the programme to help the Nigerians living at the margin. So, the appeal which is a very sincere appeal to the Nigerian people; yes there is a lot of hardship, yes increased pump price will also increase that hardship. 
But the economy is being freed in a way that the ordinary Nigerian will become the major beneficiary and we are talking of a matter of months from removing this one last bottleneck that has held the Nigerian economy down. So, it is an appeal and we should watch what happen in the next few months as far as the fuel issue is concerned because I am sure it will come crashing down. In any case, it will free resources eventually that will be used to create good jobs which has been promised and improve the lot of the Nigerians at the margin. 
That is the message the party wants to convey. The economy is in bad shape as a result of which our people are going through hard times”, he said

97 comments:

Jennifer Collins said...

Story for the gods

Unknown said...

Sorry boss we can't wait till 3 month, let it crash tonight, 3 month alone is enough to kill am entire family from starvation...

Anonymous said...

I believe it will crash.
Lol. Read this funny akpos jokes here

Unknown said...

Naija which way na.

Unknown said...

There's no tomatoes in town oooo dis one that everybody is busy talking about fuel

Unknown said...

Abeg this old man should pack one side.. We don't need this consoling message coz we already know nothing is gonna happen.. Pull over make I waka pass jorrr 😁

Olaaliu said...

πŸ˜•πŸ˜•πŸ˜•πŸ˜•πŸ˜•πŸ˜•indeedπŸ˜•πŸ˜•πŸ˜•πŸ˜•

Unknown said...

Okkk

Unknown said...

Who's d MUGU here!!!. I've always said it.. Time will Tell.

Joyous babe,Linda ikeji first cousin said...

Story,before that 3month many might have died of hunger,stupid govt.

Chizzy Liz said...

***************************True sha **********it will really work !!!!!bur muna channel d supposed subsidy money to a useful end ********************dax ma own

Unknown said...

Bullshit

Anonymous said...

Mr Party chairman,we don't want to believe your lies again,you promised change but you have us CHAINS. We don't trust your party again.

Olumide Abiodun said...

"A typical example is what happened when mobile phones were introduced. I remember that I bought a SIM card for over N30,000, but today, it is virtually free. If we free the fuel market, that same thing will happen which was as a result of competition is likely to happen."


I like what he said here. Let's pray it all makes sense in the end.




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Unknown said...

Liars!!.....the tears of the poor folks in this country will soon dry their a****.....

Anonymous said...

Mr Party chairman,we don't want to believe your lies again,you promised change but you gave us CHAINS. We don't trust your party again.

Unknown said...

We pray so! Linda take note!

FRESH said...

Igbos here,pls.show me some intelligence. besides being abusive & pessimistic. Show us you can reason too.is this statement a possibility or not?

Unknown said...

Mad people!#Lindangwanu#

NaijaDeltaBabe said...

Three months is too much o


...merited happiness

Anonymous said...

They think all nigerians are 3year old kids they should just hang themselves cos no matter what they try to cheat the poor people God will always lift us high. They said they are fighting corruption instead they want to kill the masses God pass them and they should all kiss my black ass

Anonymous said...

Tnk u

Anonymous said...

Fuck u Mr chairman! Within that 3 months ,you guys hve covered all ur campaign expences...filling stations are selling fuel 150/160 u fool! No just mke me vex plzzz.

tsalz c.e.o said...

Action film..

Anonymous said...

Taa useless government. From 6 months it has reduced to 3. The fear of strike. Monday they promised to start the strike and protests. We can't wait

Unknown said...

Another lie, am sure the pump price will Never come down to even N120, after 6mnths they wil Denial they ever said it

Unknown said...

Scammers, in 3mnths when Nigerians must have been use to buying N145

OSINANL said...

Liars...

Unknown said...

I usually don't cry foul but this time around I have no option. The case of GSM? It didn't take 3 months for things to become good in the Telecoms sector. Things are still not good in that sector. Are we claiming it is cheap making calls in Nigeria. What with the poverty level? It took years before Nigerians knew what was up. Infact the early players made so much money and became billionaires. The likes of Sani Bello and a host of others to whom their children are now serving governors are living testimonies. How long would the common man continue to wait, watching the rich and those in the corridors of power become richer. Those who will benefit from this know themselves. They are those who can get licences to operate and make some quick quids. Not those who are busy crying when the light is out, or those who can't pay to get proper medication. When Nigerians are in dire need of food and the basic necessities of life, those in power are busy playing pranks with us. I just hope this is not an avenue for some APC chieftains to make money which will be used to repay what was initially spent on their elections. At least some members were accused of using state funds to sponsor elections. God dey.

Eddy Ogbunambala said...

I believe you sir

Unknown said...

True talk!

I concur wit all he said despite am not supporter of any political parties.

Truth b told d regime of deregulation of d down stream sector has come to stay. D earlier Nigeians get UAE to it d better while d NLC can go on strike for all I care and if am PMB I would act as if they don't exist.

Good riddance to bad rubbish for its high time we stop enriching d rich and let d resources get across board.

Long live LIB!

Kinkilicious me said...

Oga abeg shut ur dirty trap. All u ppl do is keep giving blindfolded nigerians who collected ur juju rice during campaign unrealistic hope. Rubbish#

Anonymous said...

Ibe Kachikwu said 6 Months and this man is saying 3 months. Which one we go take?

Unknown said...

Una pman..three month..4 y

Laundry enthusiasts said...

how much has diesel changed after donkey years of deregulation. story 4d gods!

Unknown said...

Fuck off.

Unknown said...

And the fake promises continue. Note: 3 months= August
-D great anonymous now as Vivian Reginalds

Unknown said...

A whole lot of cock and bull story. Apc should bot bother coming back for any reelection in 2019. Enough is enough.

Anonymous said...

APC!!!.... scam, how can we believe you people, feeding of school children, scam,N1 to $ 1 dollar,scam, N40 per a litre of fuel, scam, N5000 for unemployed graduate, scam, creating 10,jobs in first 6month, scam, bringing back our girl in 6month, scam, steady light, scam, and eliminating Bokoharam in six months, scam, many more, so tell me how we can believe APC.

Anonymous said...

APC!!!.... scam, how can we believe you people, feeding of school children, scam,N1 to $ 1 dollar,scam, N40 per a litre of fuel, scam, N5000 for unemployed graduate, scam, creating 10,jobs in first 6month, scam, bringing back our girl in 6month, scam, steady light, scam, and eliminating Bokoharam in six months, scam, many more, so tell me how we can believe APC.

Pretty face said...

Cant believe this people, all the promises they have made has ended up in the opposite. Tired of their lies and excuses

Anonymous said...

Wen electricity tariff was increased, u people said so.

Unknown said...

Nonsense

Anonymous said...

cheap monkey heading useless party talking nonsense.. you steal and eat public funds thats why you can open your smelly mouth and talk rubbish

Anonymous said...

If he has shame,he will keep quiet instead of saying this nonsense. This is how they promised oil subsidy but go back on it. Oldmen without shame.

ekele onuoha said...

It is a shame that they keep making promises without a workeable road map. How will d price go down where the so called exchange rate is going up.

Kiki said...

Lying old fool. You are taking Nigerians for a ride. And to think that this pathetic man used to be one of the men I believed in. Pathetic.

Hessaawards2019.com said...

Seeing is believing...

Na me talk am!

Long Live Lib!!!

Anonymous said...

APC!!!.... scam, how can we believe you people, feeding of school children, scam,N1 to $ 1 dollar,scam, N40 per a litre of fuel, scam, N5000 for unemployed graduate, scam, creating 10,jobs in first 6month, scam, bringing back our girl in 6month, scam, steady light, scam, and eliminating Bokoharam in six months, scam, many more, so tell me how we can believe APC.

Anonymous said...

APC!!!.... scam, how can we believe you people, feeding of school children, scam,N1 to $ 1 dollar,scam, N40 per a litre of fuel, scam, N5000 for unemployed graduate, scam, creating 10,jobs in first 6month, scam, bringing back our girl in 6month, scam, steady light, scam, and eliminating Bokoharam in six months, scam, many more, so tell me how we can believe APC.

Unknown said...

Old lies

Simon said...

This man stupid , he just said the direct opposite of what will be the case, funny how they want to deregulate and regulate at the same time , in three months time petrol will sell for 370 upwards and another story will come up. This people are clueless obviously

Anonymous said...

The problem is the stations always adjust their pumps at the and of the day you but at 150 or 160 and they keep telling you that they ( nnpc) Will check those d efaulters. Wake up guys.

Anonymous said...

Mr Man. I beg park well. I don't believe you.


This Govt, is just performing all manners of experiment on Nigerians. Kachikwu said by May which he later reduced to April Fuel Scarcity will be a thing of the past. This is Mid May. The Problem is still there.

NEPA has increased tariffs. But there is no Light. We are paying for darkness. Stamp Duty on our Account, Exchange Rate problem, Fuel Pump Price Increase again. Dem no go kill us oooo. What is happening here. If we spend sooooo much on services that are not there, how much should we now spend on Food, Education, Shelter (Basic Ammenities).

Even if we agree to Fuel Price increase, is there a guarantee that we are going to get LIGHT, Good roads e.t.c. One of the reasons we need fuel is to generate our light as NEPA has failed us.

This govt should think well. So many experiments!!!!!!

Mrs I said...

LIES! When i was a child i use to think elderly pple don't lie o....

Anonymous said...

This fools are doing us the more you look the less you see God help us

Sasha said...

You guys believe this imp. it is a fat lie. NNPC boss said 6months, he is saying 3months. He's been paid to say this. Plus the sim he's talking about, has been sold for 200box in years. Foolish liar.

Anonymous said...

God bless you...we claim to be good at business yet act like we dont understand d laws of demand and supply..just cos of hatred for buhari!
Do they know why dollar is scarce? Do they know why subsidy was removed? Do they know why we devalued our naira? Nah, they will not reason..they prefer the corruption under gej that led to all d above problems...just cos they hate pmb! The man hasnt made any wrong policy move so far- let us debate it, i invite my igbo brothers,oya!!

Unknown said...

Story for the gods

Unknown said...

If APC say good morning and you make no effort to cross check, you are done for!

Unknown said...

lie lie lie like lai mohammed, God punish u danboroba...

Anonymous said...

Old illiterate fool how will it come down? Where will the importers get the dollars from to import it cheaply when ur dumb party policy has told them to go get from the already saturated parallel market bunch of ignorant mofos how can u compare a services based buisness with a product based one of course they can reduce sim cards because the raw materials are not priced by opec u fool! The telecommunication equipment is not constantly imported how the fuck can u use that model to estimate the prices of fuel u nitwit! I am so mad at Nigerians for voting in these fools may u all suffer the ignorance of ur actions go back n read up how buhari collapsed the economy in his first two years as president he is obviously still clueless to how our economy really works buffon! In medicine when u want to hv a heart transplant do u just yank the heart out dont u put in place a machine to pump the blood around the body while u remove the old heart n put a new one in place why not fix d refineries first and sort out unrest in the Niger delta b4 offliading the responsibility of providing fuel to money grabbing hungry importers? U r a fool buhari and a dull ignorant moron who has no clue how to revive our economy! Obasanjo met less money in the federation account and crude sold for way less than it does now during his tenure but he managed to turn things around and take us out of debt! I thought u were d messiah perform ur magic now! The current forex in d cbn who r u keeping it for! Salaries are not been paid contracts r not been awarded running ur old dumb mouth in the uk shamelssly ridiculing those who voted u in as thieves u r a mad man and posterity will judge u!!!!

Anonymous said...

If you want to deregulate then let's have proper deregulation. Why does government have to fix pump price? Just leave it to market forces. Allow open importation of fuel as long ad the importers meet the specs. Then open up access to crude oil purchase whether fir export or domestic refining. That way anyone can buy NNPC Crude Oil, refine it where they want and bring it back if there is profit for them. This price fixing is where the problem starts from. It is not deregulation

Anonymous said...

At N145 per liter APC is saying that Nigerians should buy products at $115 per barrel in a market where Crude Oil is being exported at below Brent at $30 - $35 per barrel. Please how does Buhari justify that gap other than that he is not in charge of the country? We should be ready to vote out APC if Nigeria survives till the next general elections. These people are callous and brainless. I welcomed the change of government but not a replacement with another group of selfish corrupt imbeciles.

Anonymous said...

Akuko uwa uhuruchi!!

Kaka said...

Ur just yarning dust.

Kaka said...

Just shut up and stop talking rubbish.

Kaka said...

U r daft

Unknown said...

Okay. .



#FINEST

Anonymous said...

You ask Igbo's to reason.....have you pulled your own head out of your arse and actually thought about the bullshit this liar is feeding you.

1. Petrol is still being controlled in price....hence it is not market forces driving price, therefore the analogy to GSM is totally misplaced.

2. What happens when the price of oil starts to bounce back?

3. How will private marketers afford the product without any dollars as the black market does not have enough dollars to sustain this airy fairy idea?

I could go on but let me allow these questions to fester in your shallow myopic bigoted mind.

Anonymous said...

Ur grammatical construction is very poor

Unknown said...

Pls go home and play with with your grandchildren.

TAMARA SPLASH said...

Just shut up sir

Anonymous said...

6months na here the suffering is just to much Mr national chairman ibelive u are a party man address Ur party pple who gave u the right to address us are u now the president

Anonymous said...

The two aren't the same and the markets aren't the same too! Don't let anybody fool you by comparing the incomparable. Kolaq

Anonymous said...

Hmmmm!Kolaq

Unknown said...

May God help Nigerians and bless the nation's at large.

Unknown said...

May God help Nigerians and bless the nation's at large.

Anonymous said...

The era of tin tomatoes is back

Anonymous said...

May God help Nigerians

Unknown said...

May God help Nigerians and bless the nation's at large.

Tech Blog said...

In as much as we all know it will even take more than a year for the price to start coming down, am still supportive of the govt's decision to remove fuel subsidy...I advise labour not to go on strike as it will make things worse.And let us remember that subsidy was removed the day the budget was sent to the NASS last year.

Oge Nsimah said...

This man is a joke by comparing sim card with pms....Olodo .come to think that most people will fall for this shm!when will NNPC give out pms to dealers without money and give them target for the month and pay them billions as incentive? .that is the only time fuel will be free,and it's actually what these operators do...which nigeria cannot do because pms is their major source of income. Quite talking noness old man.

Unknown said...

Ask about the prices of diesel and kerosine since it was completely deregulated

Pearlie said...

APC and their lie-change have dealt with us
What makes them think we will buy their lies anymore than we have done before

Unknown said...

Price of fuel is dependent on dollar. If the N145 per litre was arrived at by using N320 per dollar bench mark, then fuel price will continue to increase. Dollar is already short in the black market, and shortage means price hike. Dollar now sells for about N400. So MR STUPID, ur new policy will achieve two things. More queues and higher prices.

Unknown said...

Idiot man just listen to the rubbish u are saying,no blame u sha

Anonymous said...

Mr man!! Strike is commencing soon, if the fuel price is still 145 in Nigeria as u guys don't consider poor people in Nigeria before doing things.

Anonymous said...

From all the negative comments I have read, it is clear that most of the negative comments are coming from my igbo brothers and sisters back home in the east or those in festac.
When are we going to start letting nigerians know we are capable of intelligent reasoning? All we do is criticize un constructively. Its like when early man argued that the surface of the earth was flat when they could clearly see that the moon was round. Many of us igbos are extremely short sighted when it comes to analytic reasoning.
Many nigerians paid well above the pump price to get fuel during each scarcity period and paid hiked transport fares. As long as we continue to have subsidized fuel, scarcity will never stop, majority of us will continue to suffer as we cannot go to work or run our business due to unavailability.
Based on the law of demand and supply, the price of fuel will eventually crash, its a matter of time. A bitter pill we must all chew to cure this lifetime headache. How many of us can point to a subsidy collector that has helped, that has given back, that has built community roads or clinics?
Instead they take the money to UK and co to invest, abeg make ona park well or pack out to pakistan.

Anonymous said...

From all the negative comments I have read, it is clear that most of the negative comments are coming from my igbo brothers and sisters back home in the east or those in festac.
When are we going to start letting nigerians know we are capable of intelligent reasoning? All we do is criticize un constructively. Its like when early man argued that the surface of the earth was flat when they could clearly see that the moon was round. Many of us igbos are extremely short sighted when it comes to analytic reasoning.
Many nigerians paid well above the pump price to get fuel during each scarcity period and paid hiked transport fares. As long as we continue to have subsidized fuel, scarcity will never stop, majority of us will continue to suffer as we cannot go to work or run our business due to unavailability.
Based on the law of demand and supply, the price of fuel will eventually crash, its a matter of time. A bitter pill we must all chew to cure this lifetime headache. How many of us can point to a subsidy collector that has helped, that has given back, that has built community roads or clinics?
Instead they take the money to UK and co to invest, abeg make ona park well or pack out to pakistan.

Unknown said...

Mr party chairman, you're talking your small children. Save yourself the stress.

Anonymous said...

My friend keep quiet...this hiked pump price during the scarcity period u are pointing out is exactly what they planned to achieve so people like you will be happy in your little mind that 145 is fairer. Again no one is disputing the fact that subsidy was removed but the fact that it was kicked against during Jona's time makes it very hypocritical, with all sense of fairness. Honestly by now, what this APC oga dey yarn for don be tey
tey(if applicable sef)....but no they thought they had an out-of -this world solution. All we are asking is put control measures in place while we wait for 3 abi 6 months to experience 'change'. Nonsensical.
B.

lioness said...

Scam!Scam!Scam.....God help us o

lioness said...

Then ghennnnnn....lol...In God i put my trust!

Anonymous said...

lolllllllllllllllllllllllll

Nigerians are daft and dont think true!

But APC should not underestimate Nigerians ...or overestimate their propaganda

Anonymous said...

lie.......................

Anonymous said...

WHY IS IT THAT THESE GRANDFATHERS CANNOT TELL THEIR GRANDCHILDREN THE SIMPLE TRUTH. HELL YOU GO.

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