chronique:
Smh. And the gullible ones were busy shouting sai baba on that thread last night. I read several comments on that thread last night,and was upset with the level of foolishness Nigerians exhibit. A country that is struggling to earn revenues from her major source of income,suddenly reduces pump price of petroleum and by so doing,increases its amount being spent on subsidy;how's that possible? Where will the money come from? Most Nigerians don't even think with their brains when they read news items. They just swallow it hook,line and sinker. Tomorrow,these set of people will tell you that they are educated but they find it hard to think properly. I was just too upset to comment on that thread cos I knew a thread like this will surface today.

I did not bother when I saw the post because I had made my views on a similar where somebody claimed the product was selling at 74 in Osuna and that marketers had asked their members to embark on strike


Th3 official price at the depot remains 77.66 excluding other cost

tuniski:
before any significant reduction, subsidy must have been eliminated by performance not transfer to the citizens then, a sustained performance will result Into price reduction of note! Your head is there jor!

This is the best season to totally remove subsidy... The international price is significantly low and what we pay as subsidy is somewhere around a dollar

GenBuhari:
How do you abolish something that doesn't exist?

so you mean since buhari entered no subsidy has been paid? if so then tell me why our oil price is stagnant. in the usa their price varies on world price. it fluctuates base on oil contract which is mostly determined by the crude oil price. so why is ours stagnant? if not for the fact that the cost of refining and transporting is paid by government as subsudy.

Themandator:



This is the best season to totally remove subsidy... The international price is significantly low and what we pay as subsidy is somewhere around a dollar

looool. you mean a dollar per litre? look the 87 we pay is fkurking cheap. just that the naira is so devalued 87 naira looks like a big deal. if subsidy is remove totally expect to buy oil at above 130 naira. damn thats gonna kill people. An american can pay 1$ per litre but a Nigerian cant pay same amount of 1#(220naira) hence the subsidy. having a working refinery is better

Owliver:
looool. you mean a dollar per litre? look the 87 we pay is fkurking cheap. just that the naira is so devalued 87 naira looks like a big deal. if subsidy is remove totally expect to buy oil at above 130 naira. damn thats gonna kill people. An american can pay 1$ per litre but a Nigerian cant pay same amount of 1#(220naira) hence the subsidy. having a working refinery is better

That is why I stated that subsidy is around 1 dollar or less. And we have paid higher than 130 in the past and from the look of things, product will only be available in the black market, come December unl3ss something urgent is done.

Virtually all depot owners are indebted to banks and therefore can't access loans from them all because of subsidy that takes ages to pay.




Let the repairs go side by side with the removal.... We pay subsidy on daily dubious figure of 40m litres. Remove subsidy and watch that figure drop drastically.

Most of the products that goes up north ends up in neighbouring countries after even PEF per truck running into half a million naira has been filed for and claimed... This is outside the subsidy that are paid to the importers

Nigeria has no control of oil prices.

I do not know what fraudulent systems that have been internally set up, but that would be what Buhari would meet.

Owliver:
so you mean since buhari entered no subsidy has been paid? if so then tell me why our oil price is stagnant. in the usa their price varies on world price. it fluctuates base on oil contract which is mostly determined by the crude oil price. so why is ours stagnant? if not for the fact that the cost of refining and transporting is paid by government as subsudy.

GenBuhari:
Nigeria has no control of oil prices.

I do not know what fraudulent systems that have been internally set up, but that would be what Buhari would meet.

yes but we have fixed pump price? the fluctuating world price and transport of these oil is paid by fed government as subsidy. there might be scam in subsidy but i wont agree if you say there's no subsidy at all.