Still on Petrol Price Increase…

I just hate it when people do this naira to dollar conversion like we earn the the naira equivalent of what they earn. Put it in perspective of %. If 2 normal people earning minimum wage in both country is to buy 17gallons of fuel, who will be spending more of their income.

So if we had higher minimum wage, cost of crude oil will reduce?

@quadrant_art Please answer his question

@Bond_not_james In as much as I dont want to be rude, I wouldn't expect anyone older than 18 to ask that kind of question.

He’s just saying nonsense with confidence. Always quick to compare Nigeria to America when it comes to expenses but when it comes to citizen benefits they’ll disappear.

You are sick. Does America spend in Naira for you to be converting to Nigerian currency?

Will you stop being stupid?? You must be mad!! Why converting as if Naira and Dollars are of the same value?? Most of you are either stupid or intentionally doing this

This is US gas price March 11th

You can host a twitter live let’s critique this properly. There are so many economic indexes to this. And also look into what caused the like in petrol. For me, this is an opportunity for Nigeria to gain the best market share the can globally

What caused the hike?

This recent bombing between Iran, Israel and USA has caused the oil supply chain to stifle. Exportation of oil in the US has reduced and citizens have to pay higher prices to compensate for the loss. Every strategic government runs a zero sum balance.

Wow! Very enlightening . So the bombing doesn’t affect Nigeria?

You only showed a video of an American based Nigerian crying over the cost of petrol. I’m saying it doesn’t justify your claim that goods shouldn’t be cheaper in their country of production. You can’t tell me America is supplying at a rate cheaper than what they sell within.

For me, I would say this is even an advantage if actually we have strategic leaders. You can research on the impact of the bombing to find out that Nigeria is only affected indirectly. If we are strategic, our export revenue would grow this time.

I claimed goods shouldn’t be cheaper in their country of production? Thats what you got from the video?

Let’s start from your question “America does 20million barrels a day and Nigeria does 1.5million” “WHY ARE THEY BUYING IT AT THAT RATE” Your strongest claim is that goods should not necessarily be cheaper in their country of production, citing that there are other factors

Who’s this ? What are the economic indices of America to Nigerias’? Imagine the exchange rate gap between these two countries. Imagine our naira is equal to dollar. If you are buying fuel for 5 naira. Would you be saying all this? There’s no bases for comparison between Nigeria and USA. Our economy is poorly managed

Cost of production operations and logistics in the USA is different from Nigeria.

Cost of producing a barrel of crude is higher in Nigeria. Oil workers in Nigeria earn globally competitive wages. What’s your point? It should higher here?

My argument is that price of PMS in the United States is more economical to Nigeria given the cost running refinery would definitely be cheaper in Nigeria, cost of moving the product is cheaper in Nigeria and operations cost of service outlets is cheaper in Nigeria.

While the price difference is less than $0.15

Sometimes, some of you will just stand in front of a camera and be saying nonsénsé but you will be thinking you're making sense, why must you people always convert dollars to naira why don't you compel it since you're busy compiling the way of life over there to the way of life here?.

See how stupid You sound in your analysis. Some acclaimed intelligent bingos under your comment section want people to come up with a superior argument, but I’m glad people see only the yeye person you are

Na why I always respect @Bond_not_james . He makes his point and simplifies it. If you listen to this with clear mind and no bias, you can't fault it. I read the comment looking for someone with superior viewpoint and all I see is people rambling without a counter to his point

Like?!!! I’m looking for someone to actually call me out with better arguments not emotional rants like tenagers. They will be alright

@bishoptboy Unlike the stomach you don’t know if the brain is empty Comparing America 🇺🇸 to Nigeria at this point in time? Even the girl you used her video left Nigeria to America for greener pastures and over millions persons are want japa too, why ? A WORKING SYSTEM

@bishoptboy 210 trillion missing in NNPC can’t miss in USA 🇺🇸 with out traces or explanation, Still comparing Nigeria 🇳🇬 to USA 🇺🇸 at this point in time? Minimum hour pay in USA can get more than 5 liters in USA 🇺🇸 according to the Nigeria 🇳🇬 minimum wage you must work half day

@bishoptboy to get a liter 💔 This term is regarded as the PURCHASING POWER so if you’re comparing fuel price in USA 🇺🇸 to Nigeria 🇳🇬 compare the PURCHASING POWER Unfortunately we don’t even have

@Bond_not_james

You sound smart but so so so dumb, extreme dumb like the so called APC expertise in power, comparing the societal structure of America to Nigeria. Defending the apartheid system of electricity instead of voicing for a better transmission. You have been doing this devil advocate

It’s misinfo to say the Band system was done to subsidize electricity for the poor. NERC never said that. Even if they said so, it makes no sense as the different band don’t get the same service making it a useless defense for your main argument

The question is what does it take to make that amount in America compared to Nigeria and what is the value of the money when compared to global markets. Next time do analysis well.

You act like cars are the only thing that’s being fueled in Nigeria. She spends $100 on 17 gallons, and that’s done. The usecase for fuel in Nigeria goes beyond mobility. So an average Nigerian is consuming thrice as much, while earning 100x less Affordability is the issue

@tukay85 What’s your point?

Liked what you said but that elementary part of minimum wage you left out I am sorry is so so important…no country is perfect but Nigeria have over 120m people in poverty is a big deal …let’s use this analogy there are 200m people in Nigeria ..fuel is not a luxury but a necessity for transportation and electricity..out of 200m people 150m people can’t afford the fuel ..what do you think happens to the productivity of that country?

Where is the full video because so far he has said nothing

You have solid points, Duru. However, affordability is very important. You can not say America gas is 2k naira per litre and hence “high”. There should be a fair proportion between what people earn and affording the basics.

You people are part of the people that are enabling this bad government to do more wickédnéss..

you’re just foolish

We all see your 🌽 text

@Afolabiolamide8 With the way you’re talking someone will think you’re not even dumb

Our naira is useless, if they sell for $4 why are we not selling for 4 naira. We earn in naira and spend in naira.

Some of you are just unintelligent or wicked. We should start talking about Americans that have more purchasing power than us? As a Nigerian, if not becos of erratic power supply, why do I need to buy fuel at 1400 today? Does that happen in America? Always comparing rubbish!!!

Firstly you can’t create a band system for basic citizen necessities hence the band system for electricity is very flawed. Secondly Nigeria as opposed to other part of the world do not have a steady power system and they therefore fallback to petroleum gas so this should be heavily subsidised. The western world on the other hand does not. I have not paid for gas in 4 years in the UK. All my household runs fully on electric. You might want to argue that the power generation runs on the so called gas, but energy providers have a 6-12 months lock on your tariffs, your bus and groceries has a Year price lock. Sudden crises like this won’t impact a change. In Nigeria you feel it instantly. Sorry to say when you make these point you do not come from any critical thinking perspective and you should travel more to more developed countries to give you better understanding on the trade offs available. The point of view totally makes no sense.

A country can decide to sell their fuel for a $1m per liter and move their min wage to $1b. That balances it for them. You can’t be shouting over N2,000 for fuel in 🇺🇸 and comparing it to 🇳🇬. Compare Nigeria buying power to the fuel cost in Nigeria. How do you people think?

If to say una get sense at all, this is not ehat person will be hearing from so-called educated people in this country. Why is it only in taking out you guys know how to put this kind of effort but in giving back to the society you remain silent? A country that your wages is not the same with you are comparing it's prices. Continue the endless buffonry.

This guy just likes capping, America has Shale oil and it’s expensive to refined while Nigeria crude is Sweet less expenses to refine it, I hope he knows what they call Bonny Light. For Nigeria petroleum products should be cheaper if our Governments are doing the right thing.

I zoomed off when you started your comparison. People who compare Nigeria and the western countries to justify hardship are unintelligent.

😂 When things are rough always bringing the American antics! 😂 Be like you have swallowed America life too much? Is America the only oil producing country in the world? And the lies that America has more oil than Nigeria will not destroy you! Reserves is not same as owned

Your analysis is wrong. USA produces light crude oil but their refineries were designed for heavy crude oil. So USA mainly imports heavy crude oil from other countries hence why they’re also affected by the price spike owning to the Iran crisis. Please do more research.