Topic: Fuel affecting the economy (Read 232 times)

Due to hyperinflationary pressure, the price of every commodity in the country is increasing which is becoming difficult for a common man to live. The price of every commodity is increasing because of the increase in the price of oil and gas. If the government does not reduce the cost of transportation of goods, the price of everything will continue to rise.

However, due to the increase in the price in the international market, the government has decided to increase the price of fuel oil. If this continues the life of poor people will become more difficult and the cash flow of businessmen will continue to decrease and the overall economic situation will show a downward trend. According to me the government should decide to give subsidy on fuel oil and gas so that the suffering of common people will be eased.

Sometimes I wonder if we should welcome back the military era, I know many people will not agree to it, though me too, but look how crippled we are in a country where we lack nothing to make the country work and benefit everybody in it, no sector in a blessed country as Nigeria is working without complain, social amenities is by the grace of God, for things we don't need prayers for we will still pray to get them done just because we have leaders who don't think about their citizens, this system is messed up.......
The common man is always praying for the betterment of the country where he is supposed to benefit without stress, we talk everyday but nobody listens to our voices, its so sad

Currently now in my area fuel is 1185 per litre, the unpopular private fueling stations are usually higher than those popular fueling stations like Rainoil, NNPC etc. Cause I know Rainoil sell for a lesser amount but it's still more that 1k. This high fuel price is the main reason for increase in the prices of goods. It's making the prices of goods unstable. Transportation of goods and resources for production is high thereby affecting the prices of the goods. Even those that are going to work especially if someone's workplace is far from where they stay, it will affect them badly because you might end up spending half or even more than half of your salary on only transportation.

Don't let dis current situation mak u feel d country will not over come dis situation dat is affecting d economy which d country have never experienced in d history of Nigeria, d price of fuel per liter is now#1300 in some states in Nigeria and it has made d price of transportation to increase double all over d states, and many business men and women are quiting their businesses because dey are finding it difficult to gain income from their businesses. Once God bless us with good administration in d future, d country will b better again op, many developed countries u see around d world today experience wat Nigeria is experiencing now in d country.

I see your and feel your pain the truth of the matter is that our economy has so rotten that it will take a miracle to take it back to where it was some years ago, those at the corridors of power are not even helping matters it's obvious that they have run out of ideas and coupled with the so called subsidy removal people are just surviving in this country

Sorry man, we are all in this together and facing the same hardship in the country. Fuel is one of the vital commodity in the country that determine the price of almost everything in the country. When there is a change in the price of petroleum product, it affects the citizens and vise versa. But one thing I noticed with the country is that, whenever something rises from its actual price, even though what triggers the rise is been consolidated, the price won’t come back again. This is something that is not the government doing it to us, it is just us against us. If some of this can be looked into and taken with much consideration for us all, it’ll be a better place when the price of petrol reduces. Nigeria will be great is something I’ve been hearing from my primary school days and I still stand to believe it’ll be great one day, sooner or later we shall be great, let’s keep the optimism going.

The Country will be better, it just that we need leadership change across all board. The energy crisis is not well managed by the leadership of the country, their is hike in fuel price yet there is no availability of the product which has caused double hike price on the product.
I heard the Government has launched CNG Busses to help cushion the effect of this energy crisis, but that will do little or nothing as you cannot force everyone to convert their car energy to Gas.

Business can only survive on adding price on goods, which is another inflation that, so if you want to see gain in your Business, you have to review the price to make you stable in business else you would run out of the market.

The major reason why things are becoming too tough in the country is because of fuel price because in as much as fuel seem not be regarded as a major factor but is actually one of things that can change the dimension of any country economy, however what is getting me so much upset about the whole issues is that the federal government knows what is coursing the economic crisis in the country but they choose to ignore it and continue to be chasing cloud.

Fuel is the issue we are having because if the government reduces the price to be more affordable you will see that a lot of things will change completely because is from the increment of transportation business have also increase there prices of commodities so if fuel comes down every other things will follow but is unfortunate we live in a country were government does whatever they want without being question.

These things are no longer funny, the level at which the fuel pump price is increasing might not be bearable to an average Nigerian. To be honest, at this point, if I'm using the word 'might', I'm not trying to be a bit balance in my assertions or else, people are already in hardship and crying out loud on the current economy that's biting left, right and center.

The recent nationwide protest that saw many people on the streets, private and government infrastructures vandalized and many people put behind bars was majorly influenced by the hike in petrol prices which jacked up significantly and based on the fact that fuel is a tangible and essential commodity in the country, it immediately affected the price of transportation, food and livelihood entirely. The worse part of this is government is not providing us with road maps rather continuously making it look like they're just gambling with the situation without rolling out sufficient plans that can effectively change the narratives.

Because fuel pump price have rose to a significant height, and majority of our road transport system is run on fuel, it has moved the price of transportation fares up and since most of our goods are equally conveyed by road, prices have to change with an effect on the market people and the entire population.

A responsible government is a people's oriented government meaning most of their policies and programs are driven by the demands and conditions of the people. Such kind of government is oftentimes flexible in their policy formulations and readjustments. When you take out subsidy on fuel, it is usually meant to be for a reason, maybe because of the level of mismanagement of funds allocated to the subsidized products. Such removals are also meant to be temporal because fuel is a necessity in the drive of our economy and many trades and businesses depend on it.

That's not just the case, alone. As you remove fuel subsidy, you must have also come with plans to introduce subsidies on products who are going to be affected by the removal of fuel subsidy. Subsidies in food prices, electricity tarrifs and some other basic amenities are meant to be introduced to ameliorate the adverse effects of the fuel subsidy removal.

Instead of dishing out palliatives here and there, some of these plans would have effectively dause the problems while the government works very hard to practically bring about solutions to the implementation of strong willed policies and regulations on the reapplication of fuel subsidy as well as reviving our local refineries, etcetera.

The recent hike of Petro price is really affecting all sectors in the country and this has also increase the level of poverty in the nation. Every other commodity including food price has also increase in price because most of this things are been transported from one place to another.
The increase in PMS price has brought a negative impart to the country economy as businesses are now struggling to stay afloat and this has also affected the cost of living in the country.
Now is the right time for the government to do something about it before it gets out of hand. My advice to Nigerians now is minimize how they spend unnecessary spending at this period of time.

I went for a burial ceremony in my village this weekend and the filling station that's nearest to the village is selling it at N1300 while if you're getting it from retail sellers in the community you can only get it at N1600 per litre, when you get it at such expensive rate, how wouldn't it affect the cost of living? People in the rural areas that have zero access to electricity are the ones that suffers the most because for most of them, you need to pay transportation fees to go get always all the items you need for your use as an household and even as a shop owner, you still need to pay the increase transportation price to make your purchase and when you've done that, you don't have any choice than to increase the cost of the items You're selling.

If we're doing a comparison on what someone that earns the N70k minimum wage is expected to use his money for, for a full month under this rough economy with price of fuel getting this expensive, it will show how badly poverty has afflicted them. Even for drivers that are self employed, it's deficult to see Passengers on the road because of the increased cost of transportation. When a distance from Your house to your work place that use to be N100 is now  N300 and you have to pay such amount 5 days a week and 20 days a month from that same N70k you're earning, how much have you succeeded in spending in total? That's around  N12,000 on just transportation to and from on your work and you're left with N58k for your feeding, subscriptions, toiletries, children school fees, acomodation, health and miscellaneous expenses?

Price of petrol affects almost all the sectors of our economy because the process of transportation is very crucial in almost all the sectors and any serious that runs in a confined area like the barbars shop would still need power for her usage will still bring price of fuel into play due to the light issue we're still facing.

Luxurious lifestyle in times like this?, Well I think we should be sensible enough to know that we should've long cut down our expenses even without been told. As it stands, the chance of we seeing things going back to their old price is very thin, because since birth, I haven't come across or seen the price of a commodity that went up, and later reduced.

Just like you've pointed out, getting multiple sources of income is clearly the last option for an average person, to at least reduce the level of hardship being felt. But if anyone happens to secure a single job with good pay, then it's advisable not to make a mess, but put his/her 100% effort in it. We must as well learn to prepare for opportunities, because some opportunities comes once in a lifetime.

I heard that in some state of the country, the price is around ₦1,400 per litre and there's no way that it's not supposed to make the price of most goods to increase. Most of the producing plants in the country usually make use of generators or heavy-duty engines that consume petrol and diesel and because of the high cost of petrol, it will make the price of their products to hike.

My brother, as e be so for we country, e no just easy for we the common men, just imagine say fuel wey we dy buy 175naira per liter during the days of good luck Jonathan now na 1200naira, something wey we get, I come dy wonder what if to say we dy buy am just as every other countries wey no get am naturally, how much e for be come be?
To be sincere, our politicians just dy use us play, just imagine as the price of petrol don add money now, after now, e go surely reflect on the price of goods and services for we country, and as such e  go make things even more difficult for we the common men, just look at how most businesses dy close down because them no fit maintain the economic cost in the country, so as e be now, na only God go fit help us.

Lastly, the only advice I fit give to we Nigerian during this period is that, anything we know wey dy chop money from our hand unnecessaryly, make we try avoid am, in other to cut down cost of living.

Actually in almost every filling station asides from nnpc filling stations is 1350 per litre now, that's how bad the situation is. But with all these going on they said it's minimum wage they are working on, the government of Nigeria has misplaced priorities and they have no plans for this country. A lot of my friends that own cars don't even drive their cars because of the increase in fuel price, things are getting out of control. The prices of goods will keep on increasing on a daily basis if this continues, the government has failed the citizens of this country

The constant inincrement of fuel has caused a lot of hunger in our society leaving many in abject poverty,as it stands now people bearly feed once a day with a lot of children been involved in picking from the public dust bin which is very bad in sight, and yet the Presidency his cabinet and the people at the top has no concern about the economy,or even setting out programs to elevate the present situation from it not affecting the citizens, instead they are busy living a lavish life style,at the expenses of all the citizens because the country's wealth is for us all, Nigeria has now become the "ANIMAL FARM" story book,and i think the full story of that book will soon play in Nigeria, where revolution took place and all animals became equal.

I got the notification when this topic was posted on the economic board and after some moment i got another notification of this same topic moved down here maybe since he is a new user he is finding it very difficult to manage the whole thing so to me i will suggest any mod assist op and moved this topic to the right section to keep this board clean from spammers. Nevertheless, someone above already suggested op to move this topic to the Nigerian local board.

An increase in the price of fuel and gas will lead to inflation. The price of goods and services mostly depends on the price of these major consumables. The reason for the high price of fuel might be as a result of the removal of subsidies which has made the market determine the price.

Cutting down expenses will be an option to survive in this current economic condition. You have to focus only on your basic needs and forgo other luxuries. Seeking other means of earning money is advisable. You could change your job by acquiring better skill sets, getting a part-time job, or starting a business. Growing your food if you have the space might help reduce the effect of these economic problems. Establishing a backyard garden where you can grow vegetables and some simple agricultural products might also be helpful.     

Simply move your thread to the economics board or the Nigerian local board.

Regarding bad economy, this is what has affected almost every part of the world, just the the rate is what differs from each other and the way of finding a lasting solution out of the economy degradation, inflation has been the actual force behind the effects of what we are seeing in the country everywhere, i don't think that yours is the only one involved, there are more underdeveloped countries affecting the same or more as we speak due to inflation and its consequence on the economy growth, my little advice is for you not to wait for the government till they get it fixed, try to do something from your end to make a better living for yourself independently.

Sorry for the bad experience but I suggest this post should be posted or moved to nigerian local board since it's a local related issues.

However, that is how we are managing the country and it's still the people who voted in what we are facing today. So we must live to enjoy it with good fate, maybe in the next election that is, next tenor you would choose more better whom to vote enable your country be fine. Seriously we are all facing the hit over here in the country but what do we do, we have to learned to adjust ourselves to suit the situation at hands currently.

Have a nice day.

Edit..
To moved post to Nigeria local board check here https://bitcointalk.org/index.php?board=275.0

Fuel have of really affects the price of things so badly in the country. where I am now fuel is N1200 per liter, Gas N1600 per kg. as a business man I no longer see gain in my business again transport and food stuff have eaten all the gain I have. I don't believe if the country will be better Again ooo