soroptimist:

So it is now that elections are around the corner that you expect him to come clean on all these atrocities when in their own mind we have already forgotten the sorrow and pangs of wickedness his actions subjected Nigerians to on the 1st of January

GEJ is a deceptive man and he has his DNA tainted with lying while maintaining the countenance of a Reverend Father( which some have termed as humility and gentility

Take it from me,i have it on good authority that he would remove the total subsidy once he gets his 2nd term( God forbid),so the pain Nigerians experienced in 2012 is in suspended-mode

jaybee3: @barcanista

Like seriously, who are you?

barcanista: Our Friend Comos is embarrassing me

Keky: Barcanista Decimating Jonathanians Since 1999

soroptimist:

Infact let's concede.......Barcanista is a wicked soul who relish in inflicting trailer-load of pain on the clueless Jonathanians

since he decamped to the Progressive ideology he has earned his place both in content and character with nerver-wracking articles and sensible commentaries so far

You are mouthed!

Ventura1: N5.222 trillion on oil subsidy in 4 years! this is scary

atlwireles:
Why is it scary, you have an administration stating the true cost of petrol subsidies. Not the nonsense that use to be. Nigeria is spending over $8B annually supplying petrol to its people, below the market price. Why are you people surprised. We flush $8B down the toilet, yet more than 70% of Nigerians pay more than the official price. Yet, some people are killing themselves to keep a non working subsidies system in place.

AZeD1: There's obviously fraud in this fuel subsidy saga but OP your analysis can be countered by a smart Jonathanian (PS i know smart and Jonathanian should not be used in the same sentence).

Let me help Sincere Nigerian do his job.
Reason why your analysis is flawed:
Before you can compare the figures from, OBJ to GEJ, you have to take into account several factors which include
1) Crude oil prices
2) Value of Naira to the Dollar
3) Cost of refinery
4) Cost of transportation and other associated cost.

You also have to take into account the increase in the number of Nigerians who own cars and generators(This should reduce if the power situation is better than it was pre GEJ).



Disclaimer: The whole subsidy issue is a scam and i am fully aware of that

barcanista: If we are to go into that Jonathanians will be embarrassed. Honestly... I dare them to start

jaybee3:
Abi na... Surely they can't defend such exponential rise even if you were to apply an adjusted margin to smooth out the expected effect of price variations during the periods in question.

obailala: The number of private Jets in Nigeria jumped from 20 in 2007 to 150 in 2012 (only God knows what the figure would be now in 2014 when the likes of Tompolo and CAN president have only recently acquired their own toys).
http://www.forbes.com/sites/mfonobongnsehe/2012/09/18/wealthy-nigerians-spend-a-reported-6-5-billion-on-private-jets/

In this day and age, with info like this flying around, anybody still wondering where the subsidy funds end up is self deluded

barcanista: Demdem say something

Demdem: Jonathan destiny is to bankrupt Nigeria - Bakare.

atlwireles:

Totally removing petrol subsidy will be the best thing to happen in Nigeria. It might be painful, but the end here, justifies the means.

barcanista: And we will resist him through legitimate means

soroptimist:

Yes that is the lie they told you......and i put it to you that is a lie from the pit of Hell

Without saying too much......if you are privy to how the Subsidy regime works viz-a-vis the Trading,importation and landing cost of petroleum products in Nigeria......you will wish the ground should open and swallow all these liars and corrupt individuals

Corruption from the Ministry of Petroleum Resources,DPR and NNPC is the only reason why Nigerians pay through their nostrils for such products

The way allocations for importation is awarded to final importers is where the mother of all corruption happens whereby the initial person that gets the allocation from the Presidency/DPR/NNPC only sells the allocation paper after adding a mark up in price to a middle man who in turn adds a mark up and now sell to final importers

These mark ups in price(s) are collected in advance by way of bribes and kick-backs running into billions.....infact the person who owns the allocation person would have collected his own money like a month or two before the product is brought from Russia or wherever the final importer will source from and after the product lands

The importer in connivance with some DPR and NIMASA guys( who will not clear the vessel in on time making the product to generate demurrage charge deliberately) will also do their own magic by entering a false claim..........say if importer brings in 25000MT of AGO,they will say the person brought in say 35-40000MT,do fake Q and Q certificate and issue a Certificate of Discharge in a Tank farm to the importer who will then go and process the differentials and share with the guys according to the agreed percentages


All of these mark ups along the way obviously gets transferred to you and i who spend the whole of our lives defending them after being given pittance by TAN,Neighbour-@-Neighbour,Goodluck Support Group

If corruption is eliminated along the chain......Nigerians should not be buying PMS more than 40naira,because if you know the amount they source from the refineries,inclusive of the cargo charge,insurance etc you will weep for Nigeria

HUMONGOUS CORRUPTION is the number one problem of Nigeria and it has a palatial mansion in the Presidency

atlwireles:

Nigerians as a people like to wallow in unnecessary witch hurting, sometimes, it is a complete waste of time. I know the price of gasoline ex works in Rotterdam or the Gulf coast of the United states, the Price is about $2.60/gallon, which is about 3.78liters. Add insurance and freight alone, without the necessary distribution cost in Nigeria , plus the currency factors,you are getting your petrol in Lagos at about 40% discount at N97 per liter. Then you add cost of local distribution and warehousing, it comes to about another N7 per liter. All the black hoes in the process can be stopped, by simply getting government out of the business. Let Importers bring in their product and sell for whatever price the market is willing to support. Within 3 years, Nigeria will become a true exporter of refined products. Not this kabuki dance we have been doing since 1985

hercules07:

You sir are an slowpoke, the cost of fuel in Saudi Arabia is #4 per liter, those prices in the US and the other western countries are because of heavy tax, we do not import from the pumps, we buy from refineries who sell far far below what you have posted up there, your PDP government and Jonathan are thieves in the Subsidy issue, the cost of fuel should not be up to #50.

hercules07:

You sir are an slowpoke, the cost of fuel in Saudi Arabia is #4 per liter, those prices in the US and the other western countries are because of heavy tax, we do not import from the pumps, we buy from refineries who sell far far below what you have posted up there, your PDP government and Jonathan are thieves in the Subsidy issue, the cost of fuel should not be up to #50.

soroptimist:

I have refused to engage in needless back and forth on this subject matter but the fact that we have 4 refineries which the PDP government deliberately allowed to go to rot or are under utilised in order to justify their wicked arguement in support of importation whose allocation they give to themselves at rock bottom prices but are inflated before it gets to the real importers who as business men would simply transfer the load and other sundry charges to the end users thereby justifying there initial attempt and arguement in favour of the high subsidy money

Yet NNPC haven't accounted for how they use their 445,000Barrels/Day of crude oil which are refined at our refineries whose capacity are criminally under-declared to justify the need for us to continue to import refined petroleum products

A fraction of the NNPC allocation after being refined are sold on the High sea around Togo triangle to so-called importers who will take vessel and longside with the NNPC Mother vessel

These charlatan 'importers' will then do fake import papers as if the product they have on-board was imported from abroad when in fact it is a round tripped arrangement and with active knowing connivance of the inspectors and all that a Discharge Certificate will be issued to the person which he will go and process to collect Subsidy Claims

It is these corruption sanctioned from on high that is making the subsidy claim to sky rocket and the Presidency can't claim not to know because 'Na Padi padi arrangement'

4Play: Since we all agree that subsidy is a huge conduit for corruption, we should all support its removal. The money should be spent on free healthcare and education.

The main reason why the subsidy budget is lower in previous years is that the earlier figures are bogus. The simple solution is to get rid of this fiscal atrocity called subsidy.

Our fathers did very well without subsidy despite having a civil war to cope with.

Sincere9gerian:
My guy, a beg make you no vex, what do you do for a living?

soroptimist:
You are not getting it at all.......and i am afraid you opinion is exactly the way the government want Nigerins to think
Cutting off the head is not the cure to a nagging headache
The Corruption in the downstream sector is self inflicted and sanctioned from the table of the person that is supposed to right the wrongs and that is why it seems to be a problem that has defied solutions
The fact is that Products importation rights by way of allocation are not awarded or given directly to the downstreams sector players this i know for a fact!