tupacshakur:


...I miss the better days!

swedbase:
Despite that Dangote is the richest man in Africa, he could not help nigeria from sinking...In all, the last hope of nigeria is a Biafran. The one whom they collected all the money his father had in a bank and gave only 20 pounds to start a life. He is a Biafran, today he single handedly saved nigeria from sinking. It is in our nature to succeed, is not pride but gift from God Almighty

persius555:
capital oil, lagos ibadan express way. Military men, trader, driver,teacher,mother, everyone is in it. A nation of 180 million population without energy security. How on earth did we get to this point.

scachy:

U r on point. I missed Machiavelli most

gregg2:
May God bless Ifeanyi Uba

Macelliot:
An Igbo man systematically solving the tsunami that hitted Nigeria..

koice:


There is nothing like "Hitted", Olodo. It's "Hit" whether present tense, past tense and past participle.

tupacshakur:


I don't miss him!

He lives on...

Yorubbish:
Good

koice:


There is nothing like "Hitted", Olodo. It's "Hit" whether present tense, past tense and past participle.

tucky200:
Dis man don spread hin disease(cluelessness) all over nigeria

millionboi:
dnt worry an igboman is comin(ifeayi ubah)

kennygee: Looks like they are sharing millions.

This country is shutting down.

Na my last battery bar i dey take type this thing

persius555:
capital oil, lagos ibadan express way. Military men, trader, driver,teacher,mother, everyone is in it. A nation of 180 million population without energy security. How on earth did we get to this point.

scachy:

I miss his inspirations, cos am sure that he would have released more n more beats by now if he were alive. (A hrt of soldier with the brain to teach the whole nation)
I miss Machiavelli, I miss my mentor.
May he keep to rest in d Lord.

seedsower:
Thank you Sir. Ifeanyi Uba(Capital Oil) for releasing 13milion litres of fuel yesterday, that forced Wale Tinubu (oando oil) and Femi Otedola(Forte/AP oil) to follow suit today. These cabals should please change.

I still remember Femi Otedola unpaid multiple bank loans
And also still remember his bribe scandal with SENATOR FAROUK LAWAN.

These are the cabals we are talking about, they are the same people working hard to see that subsidy remains.

In his words(Sir Ifeanyi Uba, "I will not be part of this sabotage against our Nigerian or fold my hands while Nigerians suffer because few people want high profits" (Fuel sales currently for N85 Per Litre In All Capital oil petrol station across Nigeria)

(L-R) Wale Tinubu, President Elect Buhari and Otedola

koice:


There is nothing like "Hitted", Olodo. It's "Hit" whether present tense, past tense and past participle.

jpphilips:


The fun of being dumb, is that the victim hardly realize he is dumb, the people you mentioned otedola and co are praying daily for subsidy to be removed.

Jonathan reading your post will be like ''one of those goats i artificially programmed to believe my sh!t''

seedsower:


The sooner we begin to approach our economic challenges with an open mind of objectivity the better for is.

Sir please, can you with bias give me at least one reason why they will want subsidy removed.

Thank you

jpphilips:


picture these scenarios:

picture 1; otedola imports at 115per liter, FG promise to pay the deficit to sell at 87naira per liter, deficit owed by FG is 28naira citeris paribus. fG can owe as long as 2yrs before her majesty iweala decides to pay.

Scenario 2; Otedola imports for 115 and decides to sell 145 in cohort with other importers.

Where does Otedola make the highest profit? scenario 1 or 2?

seedsower:


Yea, correct. 2.

But do you not know that when we finally arrived at full deregulation even me will also be in that business. It will no longer be business as usual, monopoly will be gone for life.

bb. I meant to "without" bias.

The downstream sector does not operate that way, Like you inferred, there will be competition but it is not the way Nigerians expect, look at Diesel for example, it is deregulated but why is competition not driving down the price? Even when it is obvious the demand for AGO is pretty low, so how did a deregulated commodity in the Nigerian open market defy the laws of Economics? UNIONISM.

Like you implied above, anybody can import in a deregulated market fuelling competition, it is not exactly true, there are safety regulations that must be met before you are granted such licence, else Nigeria will be on fire in a matter of days, issue of storage, distribution capacity, inspection and integrity assessment are all considered, not forgetting "political patronage", in the end, only a few will meet the criteria, so its not gonna be an "all come oh! ye faithful" exercise.

As soon as they get their licence, they will join a union, Union will commence price fixing and that is where Nigerians will suffer. Now look at what Capital oil did recently, because he is a personal friend to Mr president who contributed immensely to his business success (TAN & AMCON scandal comes to mind), he decided to defy the union to salvage the image of the president, what most of you don't know is that Union has already decided to call off the strike this week ( I heard it on Thursday last week), so, it is inconsequential to the interest of the union.

The right question to ask is; why did he not release that product last week? what is the reach of Capital oil in Nigeria? he may cover Lagos or some part of Anambra at best, what happens to all the other states? that is where the Union is very powerful.

Another factor you need to consider is the international market, the price of crude fluctuates, when it appreciates, no amount of competition will annul that effect viz the price of its end product.

Import tax is another area you need to consider, well, you may assume it is an essential commodity hence should get a tax rebate, the sad truth is; once new importers join the queue (of course you want to drive competition), it will mount serious pressure on FOREX, the Govt will have no choice than to tax the products to recover. This import tax will sum up to the cost of the product for the end user.

Finally, the strength of the naira, the Naira has been on a free fall for a while and it is going to impact heavily on the cost of the products ( I guess you are aware that Forex differential is part of our subsidy regimen), a sum of all these challenges will annul the possible effect of any competition.

So when some ignorant minds compare the downstream sector with Telecommunications, I just Laugh!!

Subsidy is the only govt control in the downstream sector and it is good for us, the problem I have with most Nigerians is that they don't really know how to define their interest, the Govt should worry about the subsidy not us.

If the union decide to sell at 100 naira for example, the major importers who are subsidy beneficiaries will sell at the government rate (I am not saying they are not union members though, just obliged) the union will not sell, it wont be long before they return to status quo, that is why they capitalize on frivolities to create artificial scarcity to make more money because subsidy is a big bone in their throat. They pray daily for the government to make the mistake of subsidy removal unlike what Jonathan told you in 2012 when he referred to them as "Cabals", no doubt, they are "cabals" but jonathan lied about their interest.The cabal want the subsidy out more than Nigerians want it out.

look at this recent strike, NPDC whose stake was illegally transferred has both NUPENG and PENGASSEN as members, while NUPENG (the junior staff union) went on strike, PENGASSEN (the senior staff union) in other companies was at work

Shell, Exxon, Total Nupeng members were all at work, while tanker drivers members went to strike on their behalf
That is an example of how senseless their strike can be sometimes.

It doesn't negate the fact that they have legitimate concerns sometimes, eg when the FG gave them import mandate and devalued the naira overnight without notice, bank interest rate on the product will increase and cost of purchase increased as well, who pays for the deficit? the FG is a chronic debtor when it comes to subsidy, some importers have backlogs to 2014, Iweala just pays in bits and pieces, till they strike before they will get at least half.

Nobody cares about Aquilla (transport subsidy) these days, the cabal will rather rent their trucks to other members who are not registered and collect their cash than waiting forever for the government to pay, that is the sad truth, Cabal hate subsidy, jonathan Lied big time.

For those of you who root for subsidy removal, you have no idea what these cabals are capable of!!, funny enough I am for subsidy removal but definitely not the 2012 madness

jpphilips:



The downstream sector does not operate that way, Like you inferred, there will be competition but it is not the way Nigerians expect, look at Diesel for example, it is deregulated but why is competition not driving down the price? Even when it is obvious the demand for AGO is pretty low, so how did a deregulated commodity in the Nigerian open market defy the laws of Economics? UNIONISM.

Like you implied above, anybody can import in a deregulated market fuelling competition, it is not exactly true, there are safety regulations that must be met before you are granted such licence, else Nigeria will be on fire in a matter of days, issue of storage, distribution capacity, inspection and integrity assessment are all considered, not forgetting "political patronage", in the end, only a few will meet the criteria, so its not gonna be an "all come oh! ye faithful" exercise.

As soon as they get their licence, they will join a union, Union will commence price fixing and that is where Nigerians will suffer. Now look at what Capital oil did recently, because he is a personal friend to Mr president who contributed immensely to his business success (TAN & AMCON scandal comes to mind), he decided to defy the union to salvage the image of the president, what most of you don't know is that Union has already decided to call off the strike this week ( I heard it on Thursday last week), so, it is inconsequential to the interest of the union.

The right question to ask is; why did he not release that product last week? what is the reach of Capital oil in Nigeria? he may cover Lagos or some part of Anambra at best, what happens to all the other states? that is where the Union is very powerful.

Another factor you need to consider is the international market, the price of crude fluctuates, when it appreciates, no amount of competition will annul that effect viz the price of its end product.

Import tax is another area you need to consider, well, you may assume it is an essential commodity hence should get a tax rebate, the sad truth is; once new importers join the queue (of course you want to drive competition), it will mount serious pressure on FOREX, the Govt will have no choice than to tax the products to recover. This import tax will sum up to the cost of the product for the end user.

Lastly, the strength of the naira, the Naira has been on a free fall for a while and it is going to impact heavily on the cost of the products ( I guess you are aware that Forex differential is part of our subsidy regimen), a sum of all these challenges will annul the possible effect of any competition.

So when some ignorant minds compare the downstream sector with Telecommunications, I just Laugh!!

Subsidy is the only govt control in the downstream sector and it is good for us, the problem I have with most Nigerians is that they don't really know how to define their interest, the Govt should worry about the subsidy not us.

If the union decide to sell at 100 naira for example, the major importers who are subsidy beneficiaries will sell at the government rate (I am not saying they are not union members though, just obliged) the union will not sell, it wont be long before they return to status quo, that is why they capitalize on frivolities to create artificial scarcity to make more money because subsidy is a big bone in their throat. They pray daily for the government to make the mistake of subsidy removal unlike what Jonathan told you in 2012 when he referred to them as "Cabals", no doubt, they are "cabals" but jonathan lied about their interest.The cabal want the subsidy out more than Nigerians want it out.

look at this recent strike, NPDC whose stake was illegally transferred has both NUPENG and PENGASSEN as members, while NUPENG (the junior staff union) went on strike, PENGASSEN (the senior staff union) in other companies was at work

Shell, Exxon, Total Nupeng members were all at work, while tanker drivers members went to strike on their behalf
That is an example of how senseless their strike can be sometimes.

It doesn't negate the fact that they have legitimate concerns sometimes, eg when the FG gave them import mandate and devalued the naira overnight without notice, bank interest rate on the product will increase and cost of purchase increased as well, who pays for the deficit? the FG is a chronic debtor when it comes to subsidy, some importers have backlogs to 2014, Iweala just pays in bits and pieces, till they strike before they will get at least half.

Nobody cares about Aquilla (transport subsidy) these days, the cabal will rather rent their trucks to other members who are not registered and collect their cash than waiting forever for the government to pay, that is the sad truth, Cabal hate subsidy, jonathan Lied big time.

For those of you who root for subsidy removal, you have no idea what these cabals are capable of!!, funny enough I am for subsidy removal but definitely not the 2012 madness

seedsower:


I will be right back certainly not today!

Your response is a course I have to print it out study it properly then get back to you later.