145 is a new figure that rings bell in the ears of every Nigerian. It is the official new pump price for the Premium Motor Spirit (PMS) popularly known as petrol, after the Federal Government of Nigeria removed fuel subsidy on the product.

The significance of the removal of fuel subsidy means the price of fuel will increase from the regular 87 Naira per litre to about 145 Naira per litre. That is over 60% increase.

The removal of fuel subsidy in Nigeria is long overdue, it is the right path in a good direction as there has been lots of sabotage and diversions by oil marketers who have been milking the economy dry by illegal and dubious means. If the money generated from fuel subsidy can be diverted to infrastructural development and economy building, it will go a long way in growing our economy.

The removal of fuel subsidy is going to be a nightmare to many Nigerians as the cost of everything you can ever think of is expected to skyrocket. The increase in fuel price will mean increase in the cost of running businesses, increase in the price of raw materials, increase in transportation and of course decrease in the standard of living as there won’t be any significance increase income.

With the removal of fuel subsidy in Nigeria, Here are the biggest losers and winners from the fuel subsidy removal

Fuel Subsidy Removal

Biggest Winners

Federal Government: The federal Government is the biggest benefactor from the removal of fuel subsidy. This will mean that the Federal Government of Nigeria will have more money to save in foreign reserve and also more funds to execute public projects as there won’t be siphoning of public funds through diversion by oil marketers. Unlike in the past where the federal government gives oil marketers funds to run their business through reduction in customs duty, low levies etc

Fuel Station owners: What this means is fuel stations can now sell fuel at whatever amount they buy regardless of how much they bought it.

Oil well Owners: Owners of oil well also stand to gain a lot of money from the removal of fuel subsidy as there will be more demand for crude locally and these owners of oil well can easily trade crude oil for refined one and still sell for higher profit.

The cabals: They are the ones responsible for sabotaging, fixing of oil price, they will find a way to regulate the market in their favour through unions and connections from government officials

Governors: With the removal of fuel subsidy, there will be more money for the federal government which also means more allocation for Governors in Nigeria

Politicians: Our politicians have a way of using events like this to blackmail and achieve their personal interest. Even the oppositions are not against it. Wonder why?



Biggest Losers

Oil Marketers : Oil marketers will suffer the heaviest blow as there won’t be free money and business as usual which in the past, the federal government provide them funds to import fuel, now the marketers will have to source for foreign exchange to source for the commodity. This will cause a lot of them to either close up or merge with top level Oil marketers as they might not be able to compete with the big names.
Manufacturers: Local manufacturers will have to be ready to buy raw materials at a slightly higher price and there will be significant increase in the cost of running the business
Workers : Nigerian workers will feel the biggest blow as there might not be increase in salaries but the price of everything will definitely be inflated
Nigerians: Nigerians from all works of life will feel the wrath of this removal due to the fact that there will be
Black marketers: With the removal of subsidy, there wont be need for queues at the filling stations as there will be more fuel available for disposal. What this signifies is black marketers will no longer be patronised.

Source: http://www.businessmopol.com/fuel-subsidy-removal-the-greatest-losers-and-winners/

Please be logical...
How exactly would the cabal benefit from subsidy removal...?

leksmedia:
145 is a new figure that rings bell in the ears of every Nigerian. It is the official new pump price for the Premium Motor Spirit (PMS) popularly known as petrol, after the Federal Government of Nigeria removed fuel subsidy on the product.

The significance of the removal of fuel subsidy means the price of fuel will increase from the regular 87 Naira per litre to about 145 Naira per litre. That is over 60% increase.

The removal of fuel subsidy in Nigeria is long overdue, it is the right path in a good direction as there has been lots of sabotage and diversions by oil marketers who have been milking the economy dry by illegal and dubious means. If the money generated from fuel subsidy can be diverted to infrastructural development and economy building, it will go a long way in growing our economy.

The removal of fuel subsidy is going to be a nightmare to many Nigerians as the cost of everything you can ever think of is expected to skyrocket. The increase in fuel price will mean increase in the cost of running businesses, increase in the price of raw materials, increase in transportation and of course decrease in the standard of living as there won’t be any significance increase income.

With the removal of fuel subsidy in Nigeria, Here are the biggest losers and winners from the fuel subsidy removal

Fuel Subsidy Removal

Biggest Winners

Federal Government: The federal Government is the biggest benefactor from the removal of fuel subsidy. This will mean that the Federal Government of Nigeria will have more money to save in foreign reserve and also more funds to execute public projects as there won’t be siphoning of public funds through diversion by oil marketers. Unlike in the past where the federal government gives oil marketers funds to run their business through reduction in customs duty, low levies etc

Fuel Station owners: What this means is fuel stations can now sell fuel at whatever amount they buy regardless of how much they bought it.

Oil well Owners: Owners of oil well also stand to gain a lot of money from the removal of fuel subsidy as there will be more demand for crude locally and these owners of oil well can easily trade crude oil for refined one and still sell for higher profit.

The cabals: They are the ones responsible for sabotaging, fixing of oil price, they will find a way to regulate the market in their favour through unions and connections from government officials

Governors: With the removal of fuel subsidy, there will be more money for the federal government which also means more allocation for Governors in Nigeria

Politicians: Our politicians have a way of using events like this to blackmail and achieve their personal interest. Even the oppositions are not against it. Wonder why?

You can Also Ready about: Nigeria – China Currency Deal – The Biggest Winners and Losers



Biggest Losers

Oil Marketers : Oil marketers will suffer the heaviest blow as there won’t be free money and business as usual which in the past, the federal government provide them funds to import fuel, now the marketers will have to source for foreign exchange to source for the commodity. This will cause a lot of them to either close up or merge with top level Oil marketers as they might not be able to compete with the big names.
Manufacturers: Local manufacturers will have to be ready to buy raw materials at a slightly higher price and there will be significant increase in the cost of running the business
Workers : Nigerian workers will feel the biggest blow as there might not be increase in salaries but the price of everything will definitely be inflated
Nigerians: Nigerians from all works of life will feel the wrath of this removal due to the fact that there will be
Black marketers: With the removal of subsidy, there wont be need for queues at the filling stations as there will be more fuel available for disposal. What this signifies is black marketers will no longer be patronised.

cc lalasticlala

Read More http://www.businessmopol.com/fuel-subsidy-removal-the-greatest-losers-and-winners/

This evaluation isn't complete until you also look at the long term effects of this policies.

The government(FG) I think is the greatest loser in these

The government should start a transport company like in lagos, so that people won't feel too much of the effects. If they are expecting states and other companies to start you are wasting your time. Start it and privatise it later when you have fully established it properly.

L

everybody no say na masses and civil servant go suffer this thing pass

Hmm

rottennaija:


This evaluation isn't complete until you also look at the long term effects of this policies.

Do you really need to quote that long post before dropping your opinion??

opius:
Y are they opposing it when GEJ tried it 2012

with the high cost of crude oil back then, what do we have to show for it Like PMB said during his last interview on cnn some set of people gathered round the money and shared it like breakfast/ dinner. Even the partial removal back then can you kindly go to the street and snap any of the said mass transit bus they promised

Y are they opposing it when GEJ tried it 2012

ATTEMPT ALL QUESTIONS

If GEJ is a constant, while APC is a variable: and 1year has been used for blaming;
With the aid of a diagram:

1. discuss the probability of APC blaming GEJ for the next 3years for:
i. Dollar rise against Naira.
ii. Fuel Price increase.

2. If APC = All Promises Cancelled, where PMB is a constant, discuss the speed at which people's suffering may increase.

3. Define the term, ''Budget padding''.

4. Mention 3 types of APC propaganda you know, and how they can be used in 21st century politics.

5. Mention 5 Prisoners you know that are fed on N14000 daily.

6. Mention the next 3 countries PMB will travel to after London.

7. If PMB is silent when herdsmen kill people and buys jet fighters when Biafra is mentioned, solve the equation in correlation to x.

8. Write short notes on these mad phrases;
i. Masquerade Dressing,
ii. Importation of grass and;
iii. Pencil production by 2017.

9. If x is CHANJI and y is lies/propaganda, solve the equation, 2x + 5y = ?

10. If you used to be corrupt, but now fantastically corrupt. Explain the effect of gravitational force on you on CHANJI.

G

sure banker 1 45

inadequate and unsubstantial write up

Regardless of which way the pendulum swings, the cabal will always make money; subsidy or no subsidy. Another entity that wins in the game are the banks. You forgot to add the FX dealers

Okay

Hehehehe

I am

am not against fuel subsidy removal, but no one stops breast feeding a child without alternative means of feeding the child. Bulhari shud have made some palliative measures available before scrapping subsidy. GoodLuck tried this before same Angry People's Congress brought heavens down. now they have gone back to their own vomit, eating their words....SMH

When GEJ removed it in the year 2012, Nigerian opposed because, we do not trust Jonathan and Diezany but, later GEJ removed part of it and pledge to use it for the betterment of the Nation. SURE P was formed and Jonathan claimed to have spent every subsidy money on Sure P which did not impacted on the life of Nigerian hence the reason why PMB scraped it without any protest from the people against his decision.

We trust Buhari, that was why we voted for him. Though, things will be hard now but, certainly good time ahead.

Wailers Come and chop

opius:
Y are they opposing it when GEJ tried it 2012

hypocrisy... subsidy removal is unavoidable

Let's wait and see what is going to happen in the days ahead.

Nairaland no go loose?
No electricity + no fuel = phone off + Nairaland loss.

Every Nigeria government from 1980 attempted to remove subsidy apart from Abdulsalami regime which only focus was transition to civil rule,

From all indication Buhari civilian government will finally succeed in removing fuel subsidy, fuel is now a free market like rice and sugar anyone can import or refine and sell at competitive price.

Bye bye to cabal that will claim subsidy for fuel not imported in connivance with government officials,

Lol we can feel the wind of change

Poor Nigerians are also top losers. because I don't see any increment in salaries/wages in the nearest future. Some state governments are owing their workers for months talk more of increasing.....may God see us through this trying times.

This cabal are stand to gain because they have power to influence price of pms to suit themself. Often said that, they are also stand to loose because no biz as usual.

Serves those marketers right.

Since it's now an open market, at the end of the day, competition will turn it into a benefit for the people.