sammie06:
You better pay up all your debt.

BrokenTV:

You are wrong subsidy has come to stay, till all our Refineries start functioning at optimal. We cannot do away with it.

Burger01:

Guy, simply put, millions of dollars are being raked in from this subsidy scam. Like I said, subsidy is nothing but money siphoning conduit for the thieving cabals. What baffles me is how and why precedent governments had refused to put our refineries in shape..except of course that benefit few pockets in the government and their alibabas. I don't trust this government. What I want to see is total hauling of our refineries by naija engineers. We have resources capable of putting the refineries back to shape BUT the cabals won't allow for that...they can't allow for truncation of their subsidy scam.. Subsidy must go...and go ASAP

kawkab:
In January 2012 when GEJ removed fuel subsidy, all hell was let loose by the opposition, labour union and civil society groups. If we had allowed subsidy to be removed then, by now the forces of demand and supply would have come into play in the reduction of pump prices of fuel.

MizMyColi:


Did you support it in 2011?
Just asking...

Pavore9:
Subsidy should go! kenyans pay over N200 per litre on petrol still transport fares are cheaper in Kenya than in Nigeria!

VolvoS60:


^^^^
There is a subsidy on imported fuel. Agreed. The landing cost on Nigerian shores of a litre of refined PMS from Venezuela, Norway, Iraq or wherever is definitely above N87 or N97 or whatever price of the month we are being charged for it. The figures are on the PPRA website - the landing cost as at yesterday was N114.76. By the time distribution margins (totalling N15.49 as at yesterday) are factored in, the cost per litre of imported fuel stood at N130.25 as at yesterday, 28th April 2015. The government foots the bill for the difference between this so called 'open market price' of N130.25 and the pump head price of N87.

But is there a subsidy on locally produced and locally refined fuel? This is a question that the government has refused to answer clearly. After several years of controversy on this matter, successive Nigerian governments have refused to come clean on exactly how much it costs to drill and refine a litre of fuel here in Nigeria. Why is it so hard to release this information to Nigerians in a clear and unambiguous manner?

Because if the cost per litre of locally refined PMS (plus distribution margins) is less than the pump price of N87 or N97 or whatever, then there is NO subsidy on locally produced fuel, plain and simple. This is the information that has been carefully hidden from Nigerians for donkey years. The Obasanjo government hid this information. The Jonathan and Yaradua governments also hid this information. Why?

Because access to this information will raise questions as to WHY these governments refused to build local refineries and instead chose to enrich private interests through opaque fuel import license agreements. Fuel import licence agreements that give jobs and revenue to norwegian, venezuelan and iraqi governments and citizens. Fuel import licence agreements that give jobs and revenue to international shipping companies to move refined petroleum products to a country (Oh! Nigeria!) that has the raw crude sitting right under her soil. Fuel import licence agreements that enrich global oil traders like glencore.

If there is indeed a subsidy on locally produced fuel then the government should prove it with facts and figures if they can. The truth will make us free.

VolvoS60:


^^^^
Be careful when you say 'subsidy must go'... or those who support the wholesale plunder going on will take those words and run with them. The question you should be asking is for the government to prove there is a subsidy on locally produced and refined petroleum products. Everything else turns on this question. If there is no subsidy on locally produced fuel there is absolutely no reason for importation of costly, dollar denominated refined petroleum products from other oil exporting countries. It makes absolutely no sense to do this.

Avoid repeating slogans or soundbites such as 'subsidy must go' without exploring and understanding the real issues behind them...or you unwittingly become an accomplice to those who have an agenda...

BrokenTV:

I will respond to you when i have the time.

Burger01:

I supported in 2011 because I was green. Now, it just have to go. Govt can sensitise the populace about it and put serious palliative in place to cushion the effects of the removal. We can't progress as a nation if we keep threading this path. That subsidy is a scam...a big scam.

XBLadez:

Even Ghana

VolvoS60:


^^^^
There is a subsidy on imported fuel. Agreed. The landing cost on Nigerian shores of a litre of refined PMS from Venezuela, Norway, Iraq or wherever is definitely above N87 or N97 or whatever price of the month we are being charged for it. The figures are on the PPRA website - the landing cost as at yesterday was N114.76. By the time distribution margins (totalling N15.49 as at yesterday) are factored in, the cost per litre of imported fuel stood at N130.25 as at yesterday, 28th April 2015. The government foots the bill for the difference between this so called 'open market price' of N130.25 and the pump head price of N87.

But is there a subsidy on locally produced and locally refined fuel? This is a question that the government has refused to answer clearly. After several years of controversy on this matter, successive Nigerian governments have refused to come clean on exactly how much it costs to drill and refine a litre of fuel here in Nigeria. Why is it so hard to release this information to Nigerians in a clear and unambiguous manner?

Because if the cost per litre of locally refined PMS (plus distribution margins) is less than the pump price of N87 or N97 or whatever, then there is NO subsidy on locally produced fuel, plain and simple. This is the information that has been carefully hidden from Nigerians for donkey years. The Obasanjo government hid this information. The Jonathan and Yaradua governments also hid this information. Why?

Because access to this information will raise questions as to WHY these governments refused to build local refineries and instead chose to enrich private interests through opaque fuel import license agreements. Fuel import licence agreements that give jobs and revenue to norwegian, venezuelan and iraqi governments and citizens. Fuel import licence agreements that give jobs and revenue to international shipping companies to move refined petroleum products to a country (Oh! Nigeria!) that has the raw crude sitting right under her soil. Fuel import licence agreements that enrich global oil traders like glencore.

If there is indeed a subsidy on locally produced fuel then the government should prove it with facts and figures if they can. The truth will make us free.

VolvoS60:


^^^^
Be careful when you say 'subsidy must go'... or those who support the wholesale plunder going on will take those words and run with them. The question you should be asking is for the government to prove there is a subsidy on locally produced and refined petroleum products. Everything else turns on this question. If there is no subsidy on locally produced fuel there is absolutely no reason for routine, continuous importation of costly, dollar denominated refined petroleum products from other oil exporting countries. It makes absolutely no sense to do this.

Avoid repeating slogans or soundbites such as 'subsidy must go' without exploring and understanding the real issues behind them...or you unwittingly become an accomplice to those who have an agenda...

austinesteve:





and u made it to fp

MARKone:


It is very simple, get our refineries to work to full capacity, a lot of money have siphoned by these cabals, aided by the FG, all in the name of subsidy.

zingywingy:
Kk....please pay up ur debts before May 29, since u never inherited any when u assumed power.

Burger01:

So, what has the clueless government been doing not making the refineries to work? You can see the conspiracy and sabotage on part of the government. They are benefitting from the subsidy and so they wont give a hoot if the refineries work or nat. Ogbeni, subsidy must go and the refineries will be put in order.

wtfCode:
GEJ na now u wake up?
*Smh*
he's doin' good lately...lemme call it 'last fight'.

MizMyColi:


Okay, I asked because I remember it's one of those drastic steps that Jona took earlier, which made him lose popularity with the populace.
The cabals found a way to convince us, the man didn't have our best interests at heart.

I hope the cabals support it this time.

Besides, we can't just remove it if we haven't put measures and machineries in place to cushion the destabilizing effect it will have on the labour force. Sensitization is not enough.

BrokenTV:

But when goverment wanted to curtail this siphoning of money the whole country wanted to burn down through protest. We have to live with oil subsidy till all our refineries start working.

kawkab:
In January 2012 when GEJ removed fuel subsidy, all hell was let loose by the opposition, labour union and civil society groups. If we had allowed subsidy to be removed then, by now the forces of demand and supply would have come into play in the reduction of pump prices of fuel.

VolvoS60:


^^^^
There is a subsidy on imported fuel. Agreed. The landing cost on Nigerian shores of a litre of refined PMS from Venezuela, Norway, Iraq or wherever is definitely above N87 or N97 or whatever price of the month we are being charged for it. The figures are on the PPRA website - the landing cost as at yesterday was N114.76. By the time distribution margins (totalling N15.49 as at yesterday) are factored in, the cost per litre of imported fuel stood at N130.25 as at yesterday, 28th April 2015. The government foots the bill for the difference between this so called 'open market price' of N130.25 and the pump head price of N87.

But is there a subsidy on locally produced and locally refined fuel? This is a question that the government has refused to answer clearly. After several years of controversy on this matter, successive Nigerian governments have refused to come clean on exactly how much it costs to drill and refine a litre of fuel here in Nigeria. Why is it so hard to release this information to Nigerians in a clear and unambiguous manner?

Because if the cost per litre of locally refined PMS (plus distribution margins) is less than the pump price of N87 or N97 or whatever, then there is NO subsidy on locally produced fuel, plain and simple. This is the information that has been carefully hidden from Nigerians for donkey years. The Obasanjo government hid this information. The Jonathan and Yaradua governments also hid this information. Why?

Because access to this information will raise questions as to WHY these governments refused to build local refineries and instead chose to enrich private interests through opaque fuel import license agreements. Fuel import licence agreements that give jobs and revenue to norwegian, venezuelan and iraqi governments and citizens. Fuel import licence agreements that give jobs and revenue to international shipping companies to move refined petroleum products to a country (Oh! Nigeria!) that has the raw crude sitting right under her soil. Fuel import licence agreements that enrich global oil traders like glencore.

If there is indeed a subsidy on locally produced fuel then the government should prove it with facts and figures if they can. The truth will make us free.

MARKone:


It is very simple, get our refineries to work to full capacity, a lot of money have siphoned by these cabals, aided by the FG, all in the name of subsidy.

MARKone:


It is very simple, get our refineries to work to full capacity, a lot of money have siphoned by these cabals, aided by the FG, all in the name of subsidy.

MizMyColi:
I think I agree with your post to a large extent.
Please what are your thoughts on the PIB that hasn't been passed? Perchance, if it were passed, would it ameliorate the subsidy issues? Especially the queues at filling stations?
Please school me.