The Federal Government is to spend the sum of
N971 billion to subsidise the supply of petrol to
Nigerians in 2015, an indication that the
administration has no plan to do away with
subsidising petrol.
In the same vein, the government plans to give out
a total of N260 million to the Subsidy Reinvestment
Programme, SURE-P, for intervention in various
development agencies.
This is contained in the 2015-2017 Medium Term
Expenditure Framework and Fiscal Strategy paper,
which President Goodluck Jonathan sent to the
National Assembly for approval as the basis for the
2015 budget.
According to the document, which Vanguard
obtained Thursdayt, the government expects to
receive fabulous revenue of N7.164 from oil and
gas while the sum of N3.2 billion from non-oil
revenue sources within the year.
Overall, the administration is expecting N11.1
billion as total federally collectible revenue for
2015, as against the projection of N10.894 for the
current year.
Of its oil revenue, according to Jonathan, the sum
of N858.59 billion will be spent as its contribution
to the cost of oil production while N209 billion will
go to National Domestic gas development and N78
billion set aside for Gas infrastructure development.
In the letter he addressed to the leadership of the
National Assembly, Jonathan admitted that the oil
sector was not witnessing new investments due to
uncertainty occasioned on the non-passage of the
Petroleum Industry Bill, PIB.
Jonathan explained that the oil benchmark of $78
pb was predicated on the projected balance
between increasing global supply resulting from
rising oil and unconventional oil production, and
production disruptions that may might result from
geopolitical risks.
The President said: “Our proposal is also driven by
the need to be cautious in our revenue projections
given the volatile nature of oil prices and the need
to rebuild our fiscal buffers, which have been very
useful in periods of revenue shocks”. www.vanguardngr.com/2014/10/fg-spend-n1-trillion-petrol-subsidy-2015/

All these money are mostly meant for private pockets

Mrs okonjo iweala should be investigated upon d subsidy removal no jobs for d youths just to spread bunch lies we are now more educated. she thinks we are still mumu this so called woman will destroy our economy d more.d more is saying lies d more our economy down, d more this woman fabricate his lies d more the poverty in d land she should be investigated she's a PDP man she should be probe.d oil barons are smiling in her leadership as education minister this is much okonjo iweala should be investigated even she has change drastically in dealing with state government account so its when u decamp to PDP then d allocation of d state will be fast .okonjo iweala will surely give account to God in what she's doing under her leadership as finance minister no hope for incoming ones under her leadership.I believe God Almighty is watching us,I believe one day she will leave that office and a good and God fearing person will head d ministry.

Bihari : " who and what are they subsidising "

Abi Thunder Wan Fire Dem? Upon The Increment In Fuel Price, Jonthan Till . . . .2015

In 2011 alone (an election year), FG budgeted less than N500b, Jonathan ended up spending/looting N1.8trillion in the name of Fuel Subsidy.

Now for 2015 (another election year), Jonathan is projecting 1,000,000,000,000 naira. Who knows the actual sum that will be spent eventually.

Jonathan surely knows how loot with both eyes open.

Stop Corruption, Vote Out Jonathan.

Tis a lot of money....that would have been spent on a lot of things like infrastructure projects, universities, etc...

But we wanted cheap fuel (Which we REALLY can't get because we are producing less than we need for domestic consumption, but let's not get too factual here).

The honest truth is that we are importing fuel, the govt does not have money to build new refineries (and the private refineries promised are on the drawing board). Meanwhile, we are exporting less petrol than the United Arab Emirates....and for a population of 160million people(UAE has 8million).

The sad thing is that the fuel subsidy has to go. Yes, we will get high fuel prices, and I for one don't like having to pay up to N200 for a liter of fuel under the new regimen. But the sad thing is that we are pouring money that we do not have down a bottomless pit....and it is high time we stopped.

Ultimately, Nigeria has to get off oil....and become an industrial society. Maybe the oil subsidy money can be used for things like roads, railways, power, etc...that would fuel our industrail development...leading to jobs galore, and an end to unemployment.

But we Nigerians want free things. We don't want to work for our supper. The rich want their free bee money and the poor want their free fuel...Both want their slices of the oil cake...with no thought as to how the cake is baked.

Oil is a curse.

Nigerians should rise and put a stop to this nonsense and urge d govt to use that money to repair our refineries. What kind of vision less and useless govt is this?

In 15 years, PDP could not build a single Refinery - just so they can keep paying themselves and their Fuel Importers Business Billions of Naira.

Stop Corruption, vote out Jonathan.

size38:
Nigerians should rise and put a stop to this nonsense and urge d govt to use that money to repair our refineries. What kind of vision less and useless govt is this?

In 2012...you Nigerians shouted loud and clear...fuel subsidy must stay.

So, it stayed.

Which Nigerian will rise up? The same ones who said that fuel subsidy must stay back then?

If truly the higher educated one is the more intelligent he becomes. Then Jonathan is a disgrace to his qualification. Education enhances reasoning but in case of GEJ, he is a disappointment.
What has happened to our refineries? Is he going to spend N1Trillion to repair them? What are they subsidizing? He should know that we are not all animals.

Vote PDP out! They are crooks

Gej making us proud.

bushdoc9919:
Tis a lot of money....that would have been spent on a lot of things like infrastructure projects, universities, etc...

But we wanted cheap fuel (Which we REALLY can't get because we are producing less than we need for domestic consumption, but let's not get too factual here).

The honest truth is that we are importing fuel, the govt does not have money to build new refineries (and the private refineries promised are on the drawing board). Meanwhile, we are exporting less petrol than the United Arab Emirates....and for a population of 160million people(UAE has 8million).

The sad thing is that the fuel subsidy has to go. Yes, we will get high fuel prices, and I for one don't like having to pay up to N200 for a liter of fuel under the new regimen. But the sad thing is that we are pouring money that we do not have down a bottomless pit....and it is high time we stopped.

Ultimately, Nigeria has to get off oil....and become an industrial society. Maybe the oil subsidy money can be used for things like roads, railways, power, etc...that would fuel our industrail development...leading to jobs galore, and an end to unemployment.

But we Nigerians want free things. We don't want to work for our supper. The rich want their free bee money and the poor want their free fuel...Both want their slices of the oil cake...with no thought as to how the cake is baked.

Oil is a curse.

Thank God there are still some intelligent people left in Nigeria. Next to corruption, nothing is as wasteful and harmful as the subsidy programme.

Gej and his excos are destroying d integrity and good name of this country. d more okonjo iweala lie about subsidy scam d more they chop our money u will surely be disgrace next yr Cos' no good example to d incoming generation that want to rule this country.

Anyone who still supports this administration is a "suffering and smiling" apostle.

The concept of subsidy is the biggest scam ever.

How can you remove something you never applied in the first place.

Surely if it is true that fuel is subsidised, there must have been a date when the fuel price was reduced because of the application of the said subsidy.

If anybody can find such a date in Nigeria's history please let me know.

The term "Subsidy Removal" is a way of taxing the masses without any obligation to justify what the revenue raised would be used for.

When Abacha raised fuel prices from N11/litre to N18 /litre he never called it subsidy removal and he was transparent about what the revenue raised was to be used for. He used it to set up the Petroleum Trusf Fund , which he appointed Buhari to run, for the purpose of infrastructural development and maintenance.


https://www.youtube.com/watch?v=w2vvTP2hDqs&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V&index=37


https://www.youtube.com/watch?v=_xhN5fljkIw&list=PLRzmuN0KKXK9WjHW14Wmbe6K7F7pL7Y4V&index=31

What are they subsidising? Bloody thieves

instead of the fools to use the money to resurrect those our dead refineries the fools keep on wasting and looting our money, deceiving and lying to us that they are using the money to subsidies petrol.

wahala dey oo

Hmmmm. Seee money!

Will that reduce d price of petrol If No then.....

Ghen ghen!!!
Nigerian govt decieving her people since 1968
Thank God am a lagosian I arnt a nigerian

Space for rent

Thieves!!!!! Money for election




























Space Booked Till Morning!!!















Make I go tell my wife say I don see land buy for Nairaland maybe she go give me garri and beans chop tomorrow morning









The easiest way to see God is prayer, But tresspassing this property is easier!!!!







This space is not for sale, Beware of fraudsters









Not even our oga@the top,Seun can collect this land from me

Gej tryna loot as much as he can before vacating office

I hope this not another excuse to raise the price of fuel?

Dis mods no dey sleep niii?? 00:22

Okay

Mehn. Imagine such amounts properly channeled.

Please FG I need money

Na wah oooo