BlackPeni5:
Congratulations Nigerians. The Federal government's gift to us this year is the removal of fuel subsidies in a very 'Technical' way. I'm totally in support of the government's removal of subsidy because I can't remember when I bought it at the regulated price. Besides, no provision for subsidy was made in the 2016 budget.

In the template below, the expected selling price is N85.10 which is based on the current price of crude oil. If the price of crude changes, there will now be a corresponding change in the price of PMS based on the price modulation introduced by the minister of petroleum.

Never the less, Nigerians should not expect to buy at the government's estimated price. The real determinants of the price will be the exchange rate, demand and supply.

kayusely:
The subsidy has been an avenue to milk nigeria by some unscrupous elements kudos to FG for the smart move

krendo:
There is nothing smart about this policy

The drop in crude oil prices in the international market makes it unnessary to have fuel subsidy anyway

The fuel subsidy itself was there as a buffer for the high cost crude when oil was at 100 dollars a barrel. Now that oil has dropped to below 40 dollars a barrel then it's easy to remove the subsidy.

Also note that we have removed subsidy and kept the official price of crude at the level it was when crude oil was 100 dollars a barrel. This is effectively an increment in the cost of crude by the government in order to remove subsidy.

There is nothing smart about this policy, it is only natural

What will be SMART will be for Nigeria to increase her refining capacity and be self reliant! We need to also export more of PMS and other by products of crude instead of crude oil itself! It is criminal that we produce crude and import petrol, thereby subject our economy to international exchange rate even though we have enough crude oil that if we refine locally we can shield our economy from international market forces!

krendo:

What will be SMART will be for Nigeria to [b]increase her refining capacity and be self reliant! We need to also export more of PMS and other by products of crude instead of crude oil itself! [/b]It is criminal that we produce crude and import petrol, thereby subject our economy to international exchange rate even though we have enough crude oil that if we refine locally we can shield our economy from international market forces!

Pavore9:
So no more subsidy scam.

krendo:
There is nothing smart about this policy

The drop in crude oil prices in the international market makes it unnessary to have fuel subsidy anyway

The fuel subsidy itself was there as a buffer for the high cost crude when oil was at 100 dollars a barrel. Now that oil has dropped to below 40 dollars a barrel then it's easy to remove the subsidy.

Also note that we have removed subsidy and kept the official price of crude at the level it was when crude oil was 100 dollars a barrel. This is effectively an increment in the cost of crude by the government in order to remove subsidy.

There is nothing smart about this policy, it is only natural

What will be SMART will be for Nigeria to increase her refining capacity and be self reliant! We need to also export more of PMS and other by products of crude instead of crude oil itself! It is criminal that we produce crude and import petrol, thereby subject our economy to international exchange rate even though we have enough crude oil that if we refine locally we can shield our economy from international market forces!

Hiploko:
[s]Hypocrites everywhere. God will judge every one who occupied Naija in 2012 and now hailing this government[/s]

Idiataqueen:
Wenti concern me.

krendo:
There is nothing smart about this policy

The drop in crude oil prices in the international market makes it unnessary to have fuel subsidy anyway

The fuel subsidy itself was there as a buffer for the high cost crude when oil was at 100 dollars a barrel. Now that oil has dropped to below 40 dollars a barrel then it's easy to remove the subsidy.

Also note that we have removed subsidy and kept the official price of crude at the level it was when crude oil was 100 dollars a barrel. This is effectively an increment in the cost of crude by the government in order to remove subsidy.

There is nothing smart about this policy, it is only natural

What will be SMART will be for Nigeria to increase her refining capacity and be self reliant! We need to also export more of PMS and other by products of crude instead of crude oil itself! It is criminal that we produce crude and import petrol, thereby subject our economy to international exchange rate even though we have enough crude oil that if we refine locally we can shield our economy from international market forces!

jmaine:


Hope you were not among the occupy naija dolts in 2012 ?

@thread . . . .Kudos to the FG for this move at last. It was well over due . . . . . .

hinohsend:



The man on the street didn't protest against the removal of subsidy,but against the increase in the price of fuel.

hinohsend:



The man on the street didn't protest against the removal of subsidy,but against the increase in the price of fuel.