This explanation as far as I am concerned does not hold water. Since this administration came up, Nigerians have been suffering from one issue to another. If it is not increament on electricity tarrif, it will be high cost of dollar and now it is increament on pms. They just did abrakadabra by reducing the price to N87 and now almost 70% increase. Just in less than a year, price of things have gone up beyond expectation and on daily basis Nigerians are losing their job on daily basis. The big question is how will Nigerians survive under this internse hardship and yet we have politicans that promised heaven and earth. They promised N5000 to unemployed. Today, it has turned to dream that never comes true. Today many Nigerians are fasting for this administration to come to an end, why?, because the change that was voted for is not the change we are seeing. It is high time that this APC administration should at least impresed Nigerians for once.Nigerians are watching.

Olochedavido:


This country would never cease to amaze me. What they all kicked against in the name of scam during GEJ's administration is thesame tin they want to xplain to us otherwise. Clueless mofos

Simply pathetic. I weep at hypocrisy at its highest level. There would b a judgement day

kachola:
Oga APC was not in existence by that 2012

Just mention all the guys that opposed it then and who / where are they now?

YourMrBoo:
This osibanjo is the worst fool of a vice president ever come to my memory...

Someone help me ask the fool why government should shy away from their responsibility.

Why can't the government endure by subsidizing our fuel until when we attain the said sufficiency by 2018.

Why will it have to be the masses that will do the enduring, what now is the responsibility of the government if they keep running away from their misgivings and problems.

The government should know that this subsidy removal came at a very wrong time when we are having crisis oon our foreign exchange...

This government is a flop, a joke and a scam...
I despise this government for despising on me first...

Zombies can go ahead and quote me, some of you will have to cough out the said money from your asses to buy the said fuel. Beautiful nonsense

Subsidize it with what!?

Can't you get it? Our foreign earning is down. All other importer couldn't import fuel again cos it not profitable at current exchange rate.
What Osinbajo is saying is that inflation caused this present fuel hike.

I wonder why they can't make those that put us here pay?
Oh! Sorry. That'll be witch-hunting

asids55:


why can't you just read for once ehnn...you don't have to come to a public forum and show your ignorance, it was clearly stated that revenue from oil for April was 550m $,and what the importers need it about 225m $,that's already half of it,do you think it's just the oil importers that need $ from cbn?there are other critical sectors of the economy that need $,so how the hell do you want them to ration that till 2018??

I wonder oooo my brother some people are just here to spoil things. Spoilers.

APC has failed, no long story.

APC government is DOA.

Corrupt government fighting corruption? How possible is that?

LesbianBoy:
God Punish Buhari and his supporters!

May satan behold ur generation...
stupidi and idiotic fellow... hush!!!

[b]By Bola Tinubu

As Nigerians gathered with family and friends to celebrate the New Year, the federal government was baking a national cake wrapped in the scheme that would instantly make the New Year a bitter one. Barely had the public weaned itself from last year when government dropped a historic surprise on an unsuspecting nation. PPPRA issued a statement abolishing the fuel subsidy. By this sly piece of paper, the federal government breached the social contract with the people. This government, which owes its very existence to the people’s desire to be governed by someone more humble than elitist, has turned its back on the collective will. By bureaucratic fiat, government made the most fateful economic decision any administration has made since the inception of the Fourth Republic and it has done so with an arrogant wave of the hand as if issuing a minor regulation. Because of the terrible substance of the decision and the haughty style of its enactment, the people feel betrayed and angry. At this moment, we know not to where this anger will lead. In good conscience, we pray against violence. Also in good conscience, it is the duty of every citizen to peacefully demonstrate and record their opposition to this draconian measure that is swiftly crippling the economy more than it will ever cure it unqote[/b]

Stalwert:
[s][/s]

words of a jealous man

A pathetic jealous man u mean.

YourMrBoo:


Jealous as in how??

In my profession I do it well, am a programmer...

So I expect him to also do well in his, what's there??

Dude how do you charge the phone you are using to quote me zombifically?

You are not doing well.

you are an unknown entity in programming.

You expect a Professor of law to do well in his career. What is your definition of doing well?

Hengineer:
I do! Very many Nigerians and even non-Nigerians do, far much more than those who do not and you know why?... its because he is an outstandingly intelligent professor of law, a senior advocate of Nigeria, and an annointed man of God.

The only people who do not take him serious are those who hate him, and the only reason they hate him is cos he was elevated by God to the position of VP of the FRN, together with PMB, and together they displaced a pathologically corrupt regime.

Bros! You might never get to see this! But I duff my heart for you! Some people re too dull to comprehend his intelligent disposition! This man is an asset to this great nation

some nigerians are just too difficult to explain/analyse tinz to...even when You re making sense they still won't agree with You because of their immediate now. smh

But i expect this explanation to come first before d increament.

The only problem i have with this policy is telling d oil marketers to saurce forex from black market. It will put pressure on naira which will make d pms cost more in future. you base present price 145 on 298/$ which means if black mkt rise to 400/$ we will buy petrol at 200. Sending people that needs forex to black mkt. will put pressure on naira d more. Which is d reason naira rise to 320. Now if oil mkters join them what miracle will happen that will make them to continue to see dollar to buy at 298/$

This singular decision may worst d case of our economy.

I think our present problem now is this millitant that return to d creek. The proceed from oil will keep on to reduce as they continue their bombing. When most oil company shut down it mean we are going to depend on the so called marketers that will take advabtage of vulnurable nigerians.

We heard rumour of naira devaluation. Hmmm Devalue naira will be worst unless there is a gurantee that everybody can seek naira from cbn.
As u devalue, d black mkt will shoot up accordingly
Because even with devaluation if there is no other alternative to get dollar to our reserve than oil. The devaluation will be useless.

I beg please let govt intesify on diversification from oil
That is d only solution at present.
Lets close all borders for anything that can be produce in nigeria.
In conclution let this present govt swallow their pride and call upon economy expert to work with. Lets drop anything politics for now.

Stalwert:
[s][/s]

Jealousy jealousy is the root of hatred

Sometimes i wonder how some idiots reason

They push u to d wall and u re looking for a road in d wall


You all will rot in hell

APC : ALL PROMISES CANCELLED.

elitejosef:
Sometimes i wonder how some idiots reason They push u to d wall and u re looking for a road in d wall You all will rot in hell

APC : ALL PROMISES CANCELLED.

Oh...they Sent u to play the role of Animal Farm's SQUEALER. Kontinue...

LesbianBoy:
God Punish Buhari and his supporters!

God punish you and everybody that supports you in life. Ol0rïbūruku

Falling oil prices coupled with falling demand for oil on the global stage, plus falling production in Nigeria due to vandalism.

Given government earns about 70% of earning from oil, you can see why earnings are dwindling.

PapaBrowne:
The big question is why are earnings dwindling?

Would they call themselves smart now or do they see themselves as desperate power seekers. They have nothing new to offer other than to carry on with PDP agenda and ofcourse apply wicked propaganda of calling the former corrupt and incompetent but the earlier the zombies realise that its all a huge fraud on our collective intelligence the better for us all.

Jagaban is even tired of this learner he put in there. Is this the vision of the ACN or he has missed his way.

Kachikwu says it's subsidy removal. Osinbajo says it's not subsidy removal, but a foreign exchange problem. So, who do we believe?

OKDnigeria:
l fully support d govt as far as subsidy removal is concern.

My grouse with dem is their stinking hypocrisy. They opposed it in 2012, telling d pple dat subsidy removal is anti pple. We would have gone past dis issue as a nation 4 yrs ago. APC have set us back by 4 yrs by opposing subsidy removal in 2012. not dat they didn't know d benefit of it, they just wanted to turn d pple against d govt then just to grab power.

+ 1000000 likes. This is the real issues. I am anti- subsidy. Govt cannot pay for daily fuel.consumption and diversion of 180 million people. That is like throwing away our collective wealth. I preached these a through 2012. I stood firmly with Jonathan then because I know subsidy removal will ultimately stimulate our economy, ensures savings and help individuals build power and refineries.

But no. APC and lai Mohammed's with not let progress come in 2012. The hunger f oya r power made them discredit the bold action of Jonathan. Now, they are becoming to see the benefit. It is either they are daft for now realizing till now or they are anti - progress of our dear country.

I am glad they finally removed subsidy but sad we have to face it anew wen we ought to be reaping the benefit just about now! Mtcheeeewwww

The scripture must accomplished!!

It is fun reading some of the comments in response to the VP's explanation.

Many of them are so full of bitterness that one wonders what happened to these people that hurts them so?

Hey, I know you guys had an election that was lost last year. And yeah, some people voted out of tribe. But....most people voted because they were fed up too.

I am not asking anyone to support APC.....I am asking people to move on for once.

pasitor,remember all liars will not enter into the kingdom of God,Mr vp you are a pathetic liar. tell Buhari the truth, the truth shall set you free.

Fellow Nigerians,
First of all, let me establish that I stand with NIGERIA and not with Buhari, Jonathan or anyone. Let's stand together for ourselves and not quarrel due to sentiments and tribe. FUEL SUBSIDY IS A DISEASE and RAPE of this nation. As a nation, our leaders have painfully failed to store up in the "years of plenty" and we are now suffering the consequences in this "famine". Let me paint this picture of the current scenario:

1. Your father is wealthy and can afford a good standard of living for you. At a time, things get bad for him and he is struggling with his finances. What will you have him do? Borrow to sustain your earlier standard of living? or would you rather adjust your lifestyle to face the current reality?
2. Your father is away, working outside your state to make ends meet. He sends you N10 monthly for your upkeep through your uncle. Your uncle cheats you, taking N8 for himself and only gives you N2. How would you feel knowing your father is working hard for your upkeep and your uncle is busy stealing and squandering your father's hard-earned money for your upkeep?

This is the reality of the current fuel subsidy regime. For me, the two main reasons why we should support the end of fuel subsidy are:

a. With fuel subsidy, fuel business is more profitable when there are no refineries working in Nigeria. Without fuel subsidy, the business is more profitable WITH working refineries in Nigeria.
b. Market forces that will bring about the drop of fuel price cannot work in the subsidy regime but with the subsidy gone, market forces can find expression and will naturally induce competition and regular drop in fuel prices. (Remember sim cards once cost N30,000 in Nigeria? How much is it now? Less than N300!)

Please note that I am a common Nigerian, not one with great means so I will feel the pain of the fuel subsidy removal too, just like anyone else. In conclusion, please note the following:

I. There is no escaping this discomfort. We either face it now or face worse in the future.
II. Fuel subsidy is akin to giving Nigerians a "fake lifestyle", just like a father throwing a birthday party for his son over and instead of paying his school fees.
III. This is the only reasonable way to progress in the oil sector. The only reasonable way for the masses to determine their own fate rather than look to the same leadership that has failed us repeatedly.

In the bluntest of expressions, FUEL SUBSIDY is evil! Let's forget about sentiments and tribe, forget about the fact that those presently in government resisted it previously, let's work and fight for ourselves and our children. So tomorrow, we'll proudly look at our kids knowing we bore the pain for their pleasure and comfort.

GOD BLESS NIGERIA!!!

Nigerian Productivity is the answer to all. If Nigeria makes its own petrol, diesel and Kerosene, then fuel prices can drop and so can the cost of buying dollars. In fact, not so many dollars will be required by then but the crude oil production will still be there to earn those petrol dollars if desired.
The government should have been subsidizing local refinery expansion all these years. In the future, the only subsidizing of fuel should be for the growth of crude oil production and refineries. Produce, produce and produce. Subsidize only productivity and programs to foster peoples potential to be productive. Make excess refined petrol and the price will go down, and then export it to neighbour countries at those low prices and the neigbor countries will demand it regularly. Benin republic is so fuel deficient that they sell fuel out of glass kegs by the road side on tables and that is during normal times rather than periods of fuel crisis.

The only way to bring prices down is productivity. As long as production is being grown,there is no escaping the drop of price. Also the privatization of the refineries and depot sourcing will allow the competition needed to bring prices down when supply is grown to excess. But for now, supply is so low that it will only drive prices up.

But.... this is Nigeria we are talking about, It is very likely that in all of Nigeria's "Fantastic corruption", certain people or groups in the business will ignorantly commit selfish acts of viscious sabotage to depots and refineries when supply is so high & making prices drop.
They will likely go blindly into sabotaging productivity to keep prices high for their own excessive wealth while it will suffer the wealth of the nation by depriving the nation of excess refined petrol to export for new revenues. Some Nigerians hold the nation ,as a whole , back so as to preserve their own personal isolated progress in wealth within the nation. Its like decorating your bedroom and refurbishing it with all the best things while the entire house around your room is deteriorating and falling apart. Is this good sense? The pitfalls of selfish greed.

Dangote is leaps ahead of every one because he is exporting Nigerian productivity and not interested in sabotaging internal production to keep high prices for his products. He gets much richer by dropping prices of cement and selling much more of it outside of the nation's borders.
This is what must be done with refined petrol in Nigeria. The number of Dangote cement trucks taking cement outside of Nigeria is high. The same can be so for the number of Nigeria refined petrol tankers.

Any way, there is hope so long as people know what to focus on and prepare for the possible issues to be faced.

When it comes to getting position for Petroleum Minister, Buhari was quick to grabbed it but to explain subsidy removal & availability of petrol he hid himself pushing Osibanjo to be errand boy, what a way.

Honestly, when I see unintelligent comments coming from our youths , (eg jealous, fake pastor, failed govt etc), I just weep for our future. Illogical thinking emanating from d depths of the very minds that should be innovative. Our educational system really has to be looked into. I just hope someone understands Honestly, when I see unintelligent comments coming from our youths , (eg jealous, fake pastor, failed govt etc), I just weep for our future. Illogical thinking emanating from d depths of the very minds that should be innovative. Our educational system really has to be looked into. I just hope someone understands

3rdlegxxx:


lol, dude unless those 85% are not on nairaland, because the kinds of minds here won't oo, they would only insult, abuse and call names, ask them to counter his point with reasonable points or facts, for where..

Me sef tire.......So so blind people

Hengineer:
I do! Very many Nigerians and even non-Nigerians do, far much more than those who do not and you know why?... its because he is an outstandingly intelligent professor of law, a senior advocate of Nigeria, and an annointed man of God.

The only people who do not take him serious are those who hate him, and the only reason they hate him is cos he was elevated by God to the position of VP of the FRN, together with PMB, and together they displaced a pathologically corrupt regime.

my dear trust no one but God. U r only looking at d label on d bottle.

Nigeria is fantastically corrupt