Fuel Subsidy To Go Next Year- Sanusi - Politics - Nairaland
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New Petrol Price: A Shift From Subsidy To Profit Making / FG Ends Kerosene Subsidy, To Sell For N83 Per Litre / Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 (2) (3) (4)
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| Fuel Subsidy To Go Next Year- Sanusi by citizenisb: 7:28am On Oct 12, 2012 |
http://www.thisdaylive.com/articles/nigeria-s-external-reserves-hit-2-year-high/127506/ He noted that the amount in the ECA was $8 billion as at October 3 and had been projected to grow to $10 billion by the end of this year. Sanusi, who also represented the Coordinating Minister for the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala, said was that eventually, subsidy on petroleum products would be removed, even though he acknowledged that it was difficult removing 50 per cent of it at the beginning of the year. According to him, “there have been concerns about the unsustainable subsidy regime and we now have a taskforce and a number of importers are now being investigated for subsidy payments that do not relate to importation of petroleum products. “In 2011, over N2 trillion was paid as subsidy for importation of petroleum products .This has come to about N888 billion in 2012. Ultimately, this subsidy will have to go. It is difficult to remove, but the government was able to remove 50 per cent this year- it is a major, major achievement, especially for the fact that for a long time no one could remove the subsidy.” |
| Re: Fuel Subsidy To Go Next Year- Sanusi by citizenisb: 7:38am On Oct 12, 2012 |
Missing copiously from the budget was a provision for fuel subsidy, an indication perhaps that government may fully remove the subsidy in 2013. 2 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by citizenisb: 7:46am On Oct 12, 2012 |
"I was at Abuja mid way last month for a conference held Transcorp Hilton, a former school mate who happens to be a bit high up there at the ministry of finance told me how the Finance Minister has succeeded to blocking most the leakages that supplied monies into theirs own and others pockets so much that BDC operators are complaining of very low patronage!!! He told me pointblank that the House of Reps are kicking this hard against Jonathan because they not able to get what other before them were collecting (even up to their immediate predecessors in office) and the taking away of the constituency projects from them (except that they decide the type, scope and location of these projects). This has been a very bitter pill for them to swallow! Governments after governments have been giving the legistors the monies for constituency projects and no project gets executed anywhere, except for a couple of bore-holes here and there, but Jonathan’s government changed that! Now, whether the implementation of these projects are fast or slow, at least something is being done all the same unlike before now!" 21 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Clerverly: 8:03am On Oct 12, 2012 |
And you will follow suit  2 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Okijajuju1(m): 8:05am On Oct 12, 2012 |
I support the removal of the subsidy.. BUT Mr. Sanusi, tell Jonathan that it will fail again like it didearlier this year.. No awareness campaign and we are two months away from next year.. 3 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Ijebulogic(m): 8:06am On Oct 12, 2012 |
Fellow Nigerians, Brace Yourselves for 2013. Its going to be a rough ride. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by ochukoccna: 8:08am On Oct 12, 2012 |
citizenisb: "I was at Abuja mid way last month for a conference held Transcorp Hilton, a former school mate who happens to be a bit high up there at the ministry of finance told me how the Finance Minister has succeeded to blocking most the leakages that supplied monies into theirs own and others pockets so much that BDC operators are complaining of very low patronage!!! It is bullsh#t for an executhieve that is supposedly reining in corruption from other arms to be swathed in it How much did they budget for feeding themselves? How much have their buddies looted in the name of fuel subsidy? How come Nigeria had about the most expensive entourage to the UN recently? This soot covered pot should stop pointing the finger @ the black kettle.  We are no fools.  Thieves should stop calling their kind Ole!  Simples! 11 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by ochukoccna: 8:10am On Oct 12, 2012 |
Okija_juju: I support the removal of the subsidy.. BUT Mr. Sanusi, tell Jonathan that it will fail again like it didearlier this year.. No awareness campaign and we are two months away from next year..I'm buying fuel for 110 naira already in Lagos |
| Re: Fuel Subsidy To Go Next Year- Sanusi by uzomagic(m): 8:10am On Oct 12, 2012 |
Of course. It is high time. The issue has been over flogged. It is a gateway to deregulation. If subsidy goes, private refineries will start because there's nothing else attractive about importation. When these private refineries become fully operational, there will not be any more stories of PENGASSON. and oil marketers conspiracy. The price of fuel will also come down drastically. Competition will ensure product availability and employment. 7 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Nobody: 8:13am On Oct 12, 2012 |
na una saka! anyhow ebi, we must survive! Nigeria survived IBB's austerity measures na subsidy measure we no go survive? abeg give me chance make i pass jare! 5 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by patrickmuf(m): 8:13am On Oct 12, 2012 |
So 2013 is already being painted black 4 da ordinary Nigerian...Smh 4 dis govt 1 Like |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Nobody: 8:13am On Oct 12, 2012 |
Is it not better they told us early than giving us a shocker on 1st of january 2013? Very well then! They should expect the wrath of nigerians!! |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Okijajuju1(m): 8:14am On Oct 12, 2012 |
ochukoccna: Except on the outskirts of Port-Harcourt Fuel is generally scare with the few stations with Proper Pump Price fuel having long queues.. In Calabar, TONIMAS Filling Station has 120 Naira per litre displayed on their pumps.. Nigerians will forever live in denial.. The average cost of fuel this year was 110 Nationwide.. So why not just remove the darn thing already.. 3 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Toks2008(m): 8:15am On Oct 12, 2012 |
As far as i am concerned, we are clueles in this country. The only commodity which should be a big contraband is pms becaue that happens to be the only thing we have in this country and tyet the Government prefers to export our crude using foreign vessels and also bring in refined crude with foreign vessels thereby contravening the maritime laws and making theft collaboration easier. How else do they want to steal money if not from excess crude oil exportation afterall shebbi na wetin dem write for paper say dem export na im we go believe. In Venezuela, the world's No. 5 oil exporter, drivers fill their tanks for less than the price of a cheap breakfast, and love to point out that gasoline costs less than mineral water. It costs just 12cents for a gallon of petrol. Can you immagine filling my 50littres tank with less than 4usd. Wetin we do for Nigeria. GOD PLEASE FORGIVE US IF WE HAVE GONE ASTRAY IN ONE WAY OR THE OTHER AND GUIDE OUR LEADERS RIGHT. The irony of the whole issue is that we have no business exporting crude becuase it costs peanuts to put our refinerries in order and to even build new ones. What a clueless country. 3 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Wsdm: 8:15am On Oct 12, 2012 |
Are we not already used to the total removal of fuel subsidy? Afterall, so many of us are buying it now well over the anticipated price after its proposed removal. This is truly a short-sighted government. May God see us through. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by nass07(m): 8:15am On Oct 12, 2012 |
Untill self centered legislators and senators are snokered out,the removal might come against brickwall. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Bukkyade: 8:16am On Oct 12, 2012 |
I will be very glad if this subsidy is finally removed. I understand it is stalling development of the oil sector and causing serious hardship on Nigerians. Even with the subsidy thing, some areas still buy fuel as much as 140 a liter. So what's the difference? It's better we remove it and reap from the benefits of deregulation that it has to offer rather than keep postponing doomsday. 3 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Standing5(m): 8:16am On Oct 12, 2012 |
Good move from SLS . . . especially when you consider the fact that we are "rent seekers" who consume because we just want to and not for the sake of staying productive. 1 Like |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Maxymilliano(m): 8:17am On Oct 12, 2012 |
Here we go again, putting the cart before the horse. Subsidy removal is never the issue for me but shifting the burden and failures of successive governments in the petroleum sector on the hapless masses is just insufferable and inhuman. Granted, subsidy removal is the best way to go, the government should just do the needful, i'm tired of hearing about greenfield refineries and other assorted type of private and licenced refineries that never come to fruition 4 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by nomshu(m): 8:19am On Oct 12, 2012 |
Hi Guys, To my greatest point of view, this is a remarcable achievement that i know Goodluck administration had achieved. can someone in the house concour? 6 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Ignatio(m): 8:22am On Oct 12, 2012 |
Save all your grammar for something else. Let's prepare for 2013. The earlier the better. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by divatosin(f): 8:22am On Oct 12, 2012 |
I stand with SANUSI on this one. I opposed subsidy removal in January but now I have realized we made a big mistake then. I have come to understand these issues better since then. We need to open up the oil sector to deregulation where the market forces of supply and demand will dictate price. Private refineries need to come on board and they can't come in unless government desists from subsiding importation. BUT BEFORE THEY GO AHEAD, LET THEM DO MASSIVE ENLIGHTENMENT 17 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Nobody: 8:24am On Oct 12, 2012 |
berem: Is it not better they told us early than giving us a shocker on 1st of january 2013? Very well then! They should expect the wrath of nigerians!!if we had known, GEJ shud av bn allowed τ̅o remove †ЂΞ subsidy in whole earlier dis year, it is clear u dnt buy PMS, cos we r already buyin it @ †ЂΞ price wit ₪O subsidy! |
| Re: Fuel Subsidy To Go Next Year- Sanusi by otigba123: 8:25am On Oct 12, 2012 |
this might result to another dangerous strike. they should instead mornitor the projects awarded from the susidy reduction returns since this year. thousands of youths have no jobs,besides, power project should also be hastened. most of of our major roads are damaged and the railway system slougish. the govt. should place screening agencies to constantly visit projects in all parts of the country and also give every contractor a stipulated time for completion. our president is trying but his delegates are thieves. 2 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Druss(m): 8:26am On Oct 12, 2012 |
ochukoccna: Where from? I have never bought for above 97.5 naira in Lagos. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Mallamabdul: 8:26am On Oct 12, 2012 |
Till we remove this subsidy of a thing. We will be going around in circles. Nothing tangible will be achieved in the oil industry. NNPC, PPPRA, CUSTOMS, DPR, and oil marketers will be making money at the expense of the people. No true investor will come into build refineries. The oil cabal despite the fight and prosecutions they face now will continue to hold us all to ransome. 1 Like |
| Re: Fuel Subsidy To Go Next Year- Sanusi by rahman137(m): 8:27am On Oct 12, 2012 |
uzomagic: Of course. It is high time. The issue has been over flogged. It is a gateway to deregulation. U got it wrong all wrong, even NOI, SLS said it that deregulation will not reduce price of petrol den why all d bullshit. pls oo abeggi if den no give me subsidy wetin else dey wan give. security na me dey provide dt one, water me drill borehole, power me get generator, even road na community effort. pls o without subsidy wetin government go dey do  ///1 Like |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Mekusnwa: 8:28am On Oct 12, 2012 |
uzomagic: Of course. It is high time. The issue has been over flogged. It is a gateway to deregulation.Seconded. |
| Re: Fuel Subsidy To Go Next Year- Sanusi by Druss(m): 8:30am On Oct 12, 2012 |
Bukkyade: I will be very glad if this subsidy is finally removed. I understand it is stalling development of the oil sector and causing serious hardship on Nigerians. The fuel subsidy is not stalling the development of anything. The only thing is government want to reduce its responsibility to the Nigerian people. Unfortunately they have not realised for this thing to work - the standard of living in Nigeria has to rise higher. Government has to prepare a workable and viable vision for the future, sell that vision to Nigerians and other stakeholders and implement it. The current leadership has shown they lack the integrity, communication skills and will to do such! 4 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by uzomagic(m): 8:31am On Oct 12, 2012 |
rahman137: You don't understand it that way. What is subsidy in the first place? Government pays our balance of importation and selling at regulated prices. When you cease to regulate price, that is deregulation. No real private investments can take place in any industry where there is such regulation of prices. just like telecoms, aviation sector etc, govt doesn't need to fix price and pay for the balance. Market forces determine price. Prices are usually high. But it will gradually come down due to competiton amongst local private refineries that will be attracted by the removal of subsidy on importation. The fear we have about high prices in a post subsidy era will pale into insignificance in the face of prospects for private sector participation in refining. Until you remove subsidy, no body no matter how rich will invest in refinery in Nigeria. They rather go and establish such refineries abroad and make cool money from importing refined products from there. It is simple economics. Remove subsidy. It will make importation less attractive because there will not be anymore subsidy funds to share. Oil marketers/trader companies including those earlier licensed by OBJ to start private refineries will now move to build refineries locally. The drive is to crash price and have an edge over other competitors. At the long term, it is expected that pump price will come as low as 40 Naira. Millions of jobs will also be created. And we will all live ever happily after. 2 Likes |
| Re: Fuel Subsidy To Go Next Year- Sanusi by ilee1206: 8:33am On Oct 12, 2012 |
should place screening agencies to constantly visit projects in all parts of the country and also give every contractor a stipulated time for completion. our president is trying but his delegates are thieves. [img]http://www.forexchartingsoftware.info/pc.gif[/img] |
| Re: Fuel Subsidy To Go Next Year- Sanusi by MrCGPA(m): 8:33am On Oct 12, 2012 |
Bulshit. I have not seen any positive effect of the 50% removal yet and some body is making noise here about total removal next yr. If dts don Nigeria must be bring to a halt. Goodluck should use his sense and know dt d malan wants to spoil his government. Ewu! 3 Likes |
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