Acidosis:


How do you know Nigeria is broke?

A budget of N8trillion is not enough for Nigeria.

And by the way...we need oil to be at $123 per barrel just to balance the books.

Want to know how broke we are? Our Universities need N3 trillion every two years in extra funding just to be at par.

In my opinion, we are not a rich nation. And we are not rich because we are reliant on the revenue from resources whose prices we do not control.

That is why we must stop relying on oil, mining and agric...and start focusing on innovation and science. It may mean some few decades of hardship....but the rewards are great.

Adexprint:
Gej should have removed it totally then; we would have been used to it. But the fear of losing in 2015 election made him reconsider, thereby postponing d total removal which did not happen.

May thunder and lightning scatter your good for nothing head. When people like you came out to occupy Nigeria then

Acidosis:


How do you know Nigeria is broke?

Especially wen our politicians are the highest paid in the world

At last after deceiving us that they can't do that. What now makes a difference between the last and present administrations? Same bloody liars. This government has given us so much suffering. Nothing is working...The body giving Electricity has become a den of fraud! It's darkness we are paying for for the past 6 months. Food items are so expensive that most families hardly eat once daily. All things are much costly and there is no money in circulation.

What are we enjoying so far?... Many are dying of suffering, poverty, failed system and more. Government of rejected PDP wasn't as though as this!

This is not the kind of CHANGE Nigerians bargained for. This is fraud!

toniok:
This decision is the best PMB could have taken. Nigeria can not afford to continue paying subsidy. Nigeria is presently broke in addition to the high dollar-naira exchange rate. People condemned GEJ then because nigeria had so much during his tenure that could have built more refineries and make nigeria not to depend on imported petrol.

Guy sharrrrrrrrrrrrap if you don't know what to say

redcap:




You're actually the one that has refused to think, oil price was double of it is today during gej's era. Ironically price of forex has also doubled at the moment thereby making a folly of ur argument. Think!

what dumb point are you making bro, they were looting like no mans business but because of your hypocritical nature, nothing was wrong with it, if they had removed subsidy and the price went to N140 or N150 it would have been fine but that didn't happen and let's stop blaming everything on APC, most people kicked against it, we protested now is the best time for it to go altho also the economy is really bad right now and we are to face the worst of it, what i expected was reasonable arguments on minimum wage since what was used to determine the current N18, 000 was the the then price of the dollar, since it has risen and no sign of it returning back to it's old price, that should also be revised to at least reduce to sufferings of the masses, let's stop all this APC, PDP thing jare, blaming them is the easy way out, if we want change, let's go and and get it, hold them accountable and more

Can some tell me the meaning of subsidy in PMS.... Im Nigeria.? Am sure if u understood then u will think outside the box.... For every change there is a revolution....

Mrpoker:
God in heaven, we do not deserve buhari!
Please kill him for me.
If you do this for me, I will dedicate 90% of my time doing your works.
I will live in your temple and serve you, I will testify to the world about your goodness and mercy.

you have a lot to do then

Boscojugunu:
I love dis. Continue your good works buhari

I like this.
There would be competition now.
Some stations would start selling for 100 nairaland by next week.

[size=38pt]God.. How do i power my generator.. No trace of Phcn in my area.. God please take me out from dis Egypt.. And take me to Cyprus.. For the main time. [/size]

OkaiCorne:
*singing* Things are getting better...

Let's face it as long as we keep importing fuel...heads or tail, Nigeria loses. If crude price goes up, subsidy cost goes up and FG spends more. If crude price goes down FG faces dwindling revenue since we run a mono-economy.

Until we refine crude locally to meet the demands of the local market, the black gold will continually be a BLACK CURSE!!!

your petroleum minister said marketers can import fuel as long as they follow the regulations...so that's telling you that we are still going to deal with imported fuel

titiakins:
But good luck tried to do it and he was rebuked!!!

Suddenly it's a great idea


All of GEJ's ideas are suddenly becoming the best Ideas
But this government should have their own ideas too na

Which govt should have their own ideas?
Hope you are not talking about this "fantastically corrupt govt"?

[quote author=Acidosis post=45528976]

How do you know Nigeria is broke?[/quote

I know that Nigeria is broke because we were managing as a country (not meeting developmental needs) when oil (our only source of income) was above 100 dollar per baŕrel and now that it is below 40 dollars we ought to be worse off

I dnt bliv PMB can do a such....PMB nd Yaradua were d only ex head of state nd ex president respectively that did not add to the price of #Fuel during there time in Office....

HARDDON:



Was subsidy also responsible for d hardship the northern president put Nigerians tru in 1983?

Was it fuel selling for less than 50$ that caused that too?

In brief....we were in the position we were in 1982...when the oil price dropped...because Nigeria's economic policy since independence has always been to rely on revenue from resources we sell.

In the 1960's and early 1970's...it was agriculture and mining. Then in the mid 1970's....we lost our guaranteed market in the UK. We were ''lucky''....we had discovered oil....which became our new cash cow. (If Nigeria had had no oil...we would have been like Ghana was in the 1970's and 1980's.....very very broke).

The problem with oil...and with agriculture and mining ....is simple. We do not control the price of these commodities. As such...when prices go up....we are rich. When prices go down...see the oil drop of 1982....we get broke.

Sure we can blame the North....but Southern leaders like OBJ and GEJ did not show much signs of changing. (Yes...GEJ built car plants. Car assembly plants that rely on high oil prcies for enough cash to import the raw materials needed to keep them running. Once the cash falls...the plants stop running well. We were there before.....see PAN and Volks of Nigeria...roaring in the 70's...whimpering in the 1980's).

The way I see it.....I hope Buhari means it when he talks about diversification Because...if it turns out to be just talk...I think he should go in 2019. We should have learned our lesson...resource dependency does us no good.

titiakins:
But good luck tried to do it and he was rebuked!!!

Suddenly it's a great idea


All of GEJ's ideas are suddenly becoming the best Ideas
But this government should have their own ideas too na

In 2012, GEJ announce the total removal of subsidy and indeed Nigeria protested due to the sharp increase of fuel to about 120%. Maybe most of you here were not born then or were still babies, it was agreed by all stake holders that the removal of subsidy should be done in phases and GEJ was allowed to partially remove subsidy on PMS by 50%. The government then set up sure-p with the savings from the 50% removal and promised to build refineries and provide other cushioning measures. It was really so unfortunate that nothing was done with 50% sure-p money to boost local fuel supply. It should be on clear notice that the removal of subsidy on pms started with GEJ in 2012.

Abagworo:
God bless Buhari. What Jonathan could not achieve in 6 years he has done in one year. Game over for the subsidy cabal.

receive sense

Yepaa! He Don finally red for Nigeria. God have mercy

lordtriplee:
Great to hear this happening. We should not postpone doomsday. Subsidy should have been killed years ago. Want to wipe out corruption? Start with Subsidy.

And when Jonathan tried to do it, didn't you call him clueless? But now that buhari did it, it has become the right step. You guys are empty hypocrites.

veekid:
buhari is working

I'm sure you meant to say "buhari is copying gej"

Quakertellicus1:


Abeg park well.

We are doing this because oil is below 50 usd per barrel...meaning we do not have the revenue for any subsidy.

You cannot keep on spending money that you do not have.

You have no brain!! Try to read and know the truth.

50 liters of Petrol is obtained from dis tilling 1 barrel of crude oil

In 2012 a barrel of crude oil was 130usd and when GEJ removed subsidy a liter of fuel was 145 naira per liter.

Now 2016 a barrel of crude oil still delivers 50 liters of petrol and the price of 1 barrel is 40usd and when Buhari removes his subsidy a liter is 145usd


So who is the corrupt profiteering president?

I've been buying the fuel at 130 per litre and we were told that its being subsidized... Anyway its better we buy it at this rate. May God take control

we will still survive,Man no die e no rotten

attention007:

your petroleum minister said marketers can import fuel as long as they follow the regulations...so that's telling you that we are still going to deal with imported fuel

and the curse continues then...

Good move by the Nigerian Government.

Go all across Africa,Government does not set petrol prices there are no fuel queues, but only in Nigeria do you have that.

The next thing to be deregulated should be the FX price.

If Buhari does that then he has put Nigeria on the part of growth.

Note i am not a Buhari supporter, but might consider supporting him following this move.

Quakertellicus1:


A budget of N8trillion is not enough for Nigeria.

And by the way...we need oil to be at $123 per barrel just to balance the books.

Want to know how broke we are? Our Universities need N3 trillion every two years in extra funding just to be at par.

In my opinion, we are not a rich nation. And we are not rich because we are reliant on the revenue from resources whose prices we do not control.

That is why we must stop relying on oil, mining and agric...and start focusing on innovation and science. It may mean some few decades of hardship....but the rewards are great.

Defending a failed system can't be an exception in polarized society where many focus on interest and selfish gains

smirn:

In 2012, GEJ announce the total removal of subsidy and indeed Nigeria protested due to the sharp increase of fuel to about 120%. Maybe most of you here were not born then or were still babies, it was agreed by all stake holders that the removal of subsidy should be done in phases and GEJ was allowed to partially remove subsidy on PMS by 50%. The government then set up sure-p with the savings from the 50% removal and promised to build refineries and provide other cushioning measures. It was really so unfortunate that nothing was done with 50% sure-p money to boost local fuel supply. It should be on clear notice that the removal of subsidy on pms started with GEJ in 2012.

you that was born in 2012
Shebi you resisted the move
Why support it now
Oh I forgot
It's cos you r a unintelligent zombie!

Quakertellicus1:


A budget of N8trillion is not enough for Nigeria.

And by the way...we need oil to be at $123 per barrel just to balance the books.

Want to know how broke we are? Our Universities need N3 trillion every two years in extra funding just to be at par.

In my opinion, we are not a rich nation. And we are not rich because we are reliant on the revenue from resources whose prices we do not control.

That is why we must stop relying on oil, mining and agric...and start focusing on innovation and science. It may mean some few decades of hardship....but the rewards are great.

Defending a failed system can't be an exception in polarized society where many focus on interest and selfish gains. What can you do to bring back to life those dying of the ongoing suffering?

I dey laugh Yoruba people. and their APC. SAI BUHARI SAI BABA

adeusolu:


You have no brain!! Try to read and know the truth.

50 liters of Petrol is obtained from dis tilling 1 barrel of crude oil

In 2012 a barrel of crude oil was 130usd and when GEJ removed subsidy a liter of fuel was 145 naira per liter.

Now 2016 a barrel of crude oil still delivers 50 liters of petrol and the price of 1 barrel is 40usd and when Buhari removes his subsidy a liter is 145usd


So who is the corrupt profiteering president?

.

First....it is from the same revenue that we get from selling oil that we get the money to subsidize it. That source of revenue is gone.

And second....we import over 60% of the oil we use in this country....and we subsidize that imported oil! (Talk about throwing money down a big hole).

Factor the above thoughts into your previous point...and you would see where we are going with this.

We had no choice. And yes...should have been removed since 2012.To keep it now means.....taking loans to pay for fuel which we mostly import anyway. (What!?)

royallord1:

initially when i saw the news i had nothing to say but for now all i can say is HMMMMMMMM..M.. E DONE SET...
WITH THE EXCESSIVE HARDSHIP AND PAIN IN THE COUNTRY ITS ILL-TIMED TO REMOVE SUBSIDY ... THEY HAV TRIPLED THE SUFFERING OF THE PEOPLE..
the people they claim to represent... #18000. is d minimum wage set with a dollar conversion of about $120 but now its $56.25 wat dat implies that the cost of things have exprecienced about a 120% increase all based on the same 18000 minimum wage... so you already have people paying more for the same product they bought 120% cheaper a few years back... then in your wisdom to save cost of governance you remove fuel subsidy .. thus increasing the sufferings of the people.. government ought to be for the people.. by the people... and of them... what we are experiencing is a MASTER AND SLAVE RELATIONSHIP.... ITS PAINFULL
if labour do not organise occupy nigeria ahhhhh... we ar finished
APC........ ASSOCIATION OF PAINGIVING CÙÑT..
E GO BETTER...

the ball is in nlc court now or you prefer no fuel at 400 per litre.at least no more excuse to increase fuel price again

Adexprint:
Gej should have removed it totally then; we would have been used to it. But the fear of losing in 2015 election made him reconsider, thereby postponing d total removal which did not happen.

You were then ones that protested against it despite his effort to explain.