DEREGULATION OF OIL PRODUCTS

Hello Housemates,

Here we are again with deregulation of oil product in this economic meltdown according to Soludo, what will be the fate of a common man? Dnt u think that the price of petrolum products will be too high for ordinary nigerian? knowing what we can do wen such free hands is giving to major and independent marketers?

Posted: at 27-02-2009 07:03 PM (15 years ago) | Gistmaniac

 Government insists full deregulation is non-negotiable. But Nigerians believe they should naturally enjoy cheap fuel because their country is well endowed with hydrocarbon. Deregulation simply means opening the market were by marketers can buy and sell at any prize and goverment removing subsidy.

Subsidy
According to the government, subsidy benefits only the oil contractors so the money should be better channelled to providing social infrastructure from which the ordinary people will benefit rather than the “fatcat” contractors.
Below are some country and their fuel prize in naira equivilent so that you can justify for yourself why Nigeria Govermenment are running away fro their responsibility in the name of deregulation.

Petrol prices per litre in OPEC countries as at February 2009
Country   ($:¢)     N:K        GDP             Per capita
Algeria     $0.34   N49.30   $240.2bn      $7,100
Angola     $0.53   N76.85   $114.6bn      $9,100
Ecuador   $0.51   N73.95    $107bn        $7,700
Iran         $0.10   N14.50    $859.7bn     $13,100
Iraq         $0.10   N14.50    $113.9bn     $4,000
Kuwait      $0.24   N34.80    $157.9bn    $60,800
Libya        $0.14   N20.30    $92.01bn    $14,900
Nigeria     $0.44    N65.00    $328.1bn   $2,200
Qatar       $0.22    N31.90    $83.29bn   $101,000
S’Arabia   $0.16    N23.20    $600.4bn   $21,300
UAE         $0.45    N65.25    $186.8bn   $40,400
Venezuela $0.02   N2.90      $368.6bn   $14,000

Sources:THISDAY Database,CIA Handbook,GTZ

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Posted: at 21-04-2009 10:06 PM (15 years ago) | Upcoming