{"id":130136,"date":"2024-09-06T11:16:57","date_gmt":"2024-09-06T10:16:57","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja"},"modified":"2024-09-06T12:26:41","modified_gmt":"2024-09-06T11:26:41","slug":"how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja","title":{"rendered":"How Nigeria can make fuel pump price to fall \u2013 Kalu Aja"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Kalu Aja, a financial analyst and educator, has said that only a stronger Naira and increased oil output could make the price of Premium Motor Spirit (PMS) fall in the country.<\/p>\n<p>He stated that without a strong Naira, the only way to get \u201ccheap\u201d PMS is through a subsidy on the dollar or a subsidy on crude oil for the Dangote refinery.<\/p>\n<p>Aja explained that a stronger Naira implies that Nigerians could afford $80 per barrel of Brent crude, even with the N70,000 minimum wage.<\/p>\n<p>In a post on his X handle on Thursday, the financial expert stressed that more oil output means Nigeria could sell more oil and use the excess output, above the OPEC quota, to supply subsidized crude to the Dangote refinery.<\/p>\n<p>Aja further pointed out that returning to subsidies is problematic as the scheme itself is costly, insisting that the Federation cannot afford a total subsidy because various levels of government are poor money managers.<\/p>\n<p>Aja\u2019s post read: \u201cHow can the PMS price fall?<\/p>\n<p>More local refineries? No.<\/p>\n<p>Dangote paying in Naira for oil? No.<\/p>\n<p>\u201cRather, a stronger Naira and more oil output.<\/p>\n<p>\u201cA stronger Naira means Nigerians can afford $80 per barrel of Brent crude, even with the $0.27 minimum wage (N70,000 x 40 hrs).<\/p>\n<p>\u201cMore output means Nigeria can sell more oil and use the excess output above the OPEC quota to supply subsidized crude to the Dangote refinery at N100 a barrel. Yes, a subsidy.<\/p>\n<p>\u201cIn summary, if the Naira does not rise, your PMS cost will not fall.<\/p>\n<p>\u201cThe only way to get \u2018cheap\u2019 PMS without a strong Naira is to subsidize PMS by subsidy on the dollar or a subsidy on crude for Dangote.<\/p>\n<p>\u201cSubsidy must return for this to happen.<\/p>\n<p>\u201cThe problem is that subsidy is a cost, and the Federation cannot afford a total subsidy. The Federation are awful money managers.<\/p>\n<p>\u201cSolutions: We will talk about this soon; it involves bringing back subsidy payments, but at the pump, not the ports, maybe the refinery.<\/p>\n<p>\u201cLast point: It would have been worse without the Dangote refinery.<\/p>\n<p>\u201cThank you, Dangote.\u201d<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Kalu Aja, a financial analyst and educator, has said that only a stronger Naira and increased oil output could make the price of Premium Motor Spirit (PMS) fall in the country. He stated that without a strong Naira, the only way to get \u201ccheap\u201d PMS is through a subsidy on the dollar [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":130135,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[10892,14047,254],"class_list":["post-130136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-fuel-pump-price","tag-kalu-aja","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Nigeria can make fuel pump price to fall \u2013 Kalu Aja - Nigeria<\/title>\n<meta name=\"description\" content=\"Kalu Aja, a financial analyst and educator, has said that only a stronger Naira and increased oil output could make the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Nigeria can make fuel pump price to fall \u2013 Kalu Aja\" \/>\n<meta property=\"og:description\" content=\"Kalu Aja, a financial analyst and educator, has said that only a stronger Naira and increased oil output could make the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-06T10:16:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-06T11:26:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725609362.300228.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"804\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"How Nigeria can make fuel pump price to fall \u2013 Kalu Aja\",\"datePublished\":\"2024-09-06T10:16:57+00:00\",\"dateModified\":\"2024-09-06T11:26:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\"},\"wordCount\":369,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725609362.300228.jpg\",\"keywords\":[\"fuel pump price\",\"Kalu Aja\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/how-nigeria-can-make-fuel-pump-price-to-fall-kalu-aja\",\"name\":\"How Nigeria can make fuel pump price to fall \u2013 Kalu Aja - 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