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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy Not Removed - Osinbajo (40041 Views)
Edward Onoja: "There Is No God If Dino Melaye Is Not Removed As Senator" / I Was Not Removed, I Finished My Assignment – SGF / Fuel Subsidy Not Removed, VP Osinbajo Clears The Air (2) (3) (4)
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Re: Fuel Subsidy Not Removed - Osinbajo by hedgesfun(m): 10:11am On May 14, 2016 |
Hengineer: My brother, I really think it's fast becoming a national disaster this issue of being intellectually lazy, we have so many beauty without brains amongst our ladies and most of guys 're just mere chest without sense, I believe the country is really in danger if our intellectuality is being wasted away due to lots of silly things you know. |
Re: Fuel Subsidy Not Removed - Osinbajo by Nobody: 10:12am On May 14, 2016 |
so you dont know that their publisher is one of yam eater that vomited his own share, so am not surprised. Thats why i dont comment most on politics section . Besides, was subsidy provided in the budget Of 2016? This should silence those confused idiots, but they will rather think or read otherwise and later results to insult than being reasonable . Thats why many still do jamb 5 times. There is no subsidy to remove, simple. Vanguard just want to be opposition newspaper which is good but the are doing it with hatred and with a mission. Hengineer: |
Re: Fuel Subsidy Not Removed - Osinbajo by babestella: 10:12am On May 14, 2016 |
Hengineer: Now they tell you importers of petrol are free to source forex from black market, that is an endorsement of the black market some people said is not to be used as an index when mentioning forex rates, what do we have now. I see this arrangement as a big time fraud on the masses. What it means now is that top government officials in good book of Buhari could get forex directly from the CBN and push same to the black market, it's simple. Buhari's wife was alleged to have collected 22 million dollars from the CBN which she sold at the black market rate. It's funny how this government thinks everyone is living in foolery, I doubt if this nation can survive beyond 2019 at the rate this eeeediotys in power dish out their deceits and lies. |
Re: Fuel Subsidy Not Removed - Osinbajo by Hengineer: 10:19am On May 14, 2016 |
pchukwudi:Sir I'm sure you own a dictionary, or you could try google. |
Re: Fuel Subsidy Not Removed - Osinbajo by Student125(m): 10:21am On May 14, 2016 |
shadelek: You guys should stop miss informing people...do u have problem interpreting d man?.The same reason y I stopped reading vanguard news since last year. |
Re: Fuel Subsidy Not Removed - Osinbajo by Hengineer: 10:23am On May 14, 2016 |
babestella:There is always an official and parallel market. By the way, for all those who have been calling Buhari silly for refusing to devalue the Naira, this price of N145 is the first evidence of what things would be like when the Naira will be official devalued. Isn't it an irony that those claiming that devaluation would miraculously make things better, those claiming devaluation will not increase inflation, those insulting Buhari for his refusal to devalue and make things better are now the same ones insulting Buhari for the hike in fuel prices which is just the first notable effect of devaluation. 1 Like |
Re: Fuel Subsidy Not Removed - Osinbajo by naija247: 10:24am On May 14, 2016 |
If gov't were to pay subsidy how much would it cost? Lets assume gov't pays #45 per liter as subsidy that would bring the price of pms around #100 at most. Even if we entirely import our daily needs which is around 35000000 liters that's a daily payment of #1.575 billion and about #575 billion yearly. A gov't that plans to spend #500 billion on the payment of #5000 to unemployed people can't pay subsidy that would ease the suffering of ALL Nigerians. Of what use is the #5000 anyway when cost of living has risen sky high. They need to get their priorities right. Subsidy removal should be gradual while refineries are fixed/built. |
Re: Fuel Subsidy Not Removed - Osinbajo by Nobody: 10:24am On May 14, 2016 |
please leave this people alone, and go and do better things with your time instead of replying them, ibeg.. Hengineer: 2 Likes |
Re: Fuel Subsidy Not Removed - Osinbajo by tosan200(m): 10:29am On May 14, 2016 |
Hengineer:oga u get time o. People hear what they want to hear, see what they want to see. It's not only them, it cuts across all divide. This same news was posted yesterday with a different headline on this same nairaland... just shows we still have a long way to go in this country. People ruled by sentiments and emotions rather than logic. Smh. 2 Likes |
Re: Fuel Subsidy Not Removed - Osinbajo by kan12(m): 10:30am On May 14, 2016 |
V.p can Joke oh,I dint know dis man is as funny as dis,Sire I advice go amd join Basket mouth and his pipo.wonder if u re still the V.P or are you sleeping through revolution? |
Re: Fuel Subsidy Not Removed - Osinbajo by OBAGADAFFI: 10:30am On May 14, 2016 |
LaExpert: The VP is wrong. VPs comments below “Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn’t much of a subsidy to remove. “In any event, the President is probably one of the most convinced pro-subsidy advocates. Note : there was no monopoly before APC took over government. APC introduced the monopoly by making NNPC sole importer. |
Re: Fuel Subsidy Not Removed - Osinbajo by simplynola(m): 10:43am On May 14, 2016 |
I knew they were still going to say subsidy is still existing even at N1000 per litre. Confused short man and his party. |
Re: Fuel Subsidy Not Removed - Osinbajo by kamelonaire(m): 10:54am On May 14, 2016 |
Well idnt blame you Osibanjo.... How many yrs remain for this poor man |
Re: Fuel Subsidy Not Removed - Osinbajo by MaziOmenuko: 10:57am On May 14, 2016 |
Dahveydson: Oga, you cannot deregulate the oik sector and regulate it's price; you let market forces determine its price. Once again, I ask, if dollar shoots up in the parallel market like it will most likely do when pressure and excess demand from the marketers begins, will we be the once paying that ultimate price thru? How can the govt put a ceiling on fuel price with an assumed parallel market of N285 to a dollar? What happens when that price is no longer teanable? |
Re: Fuel Subsidy Not Removed - Osinbajo by peak115: 11:00am On May 14, 2016 |
His explanation is not different from the diffrence b/w six and half a dozen. If subsidy is not removed does that implies that govt still pay independent marketers some amount of money for every liter of fuel import. 1 Like |
Re: Fuel Subsidy Not Removed - Osinbajo by oc2fish: 11:04am On May 14, 2016 |
MisterGrace: Did they twist the fact that tomatoes is out of rich, no employment, those abroad on scholarship and self sponsored are dropping out of school because of high dollar rate to naira. Hmmm. Refute anyone if this let me see. |
Re: Fuel Subsidy Not Removed - Osinbajo by ozoemenafn: 11:08am On May 14, 2016 |
Is this a government ? I wish all Zombies supporting this government that their private affairs would be managed the way APC is managing this country |
Re: Fuel Subsidy Not Removed - Osinbajo by Bullet1234(m): 11:10am On May 14, 2016 |
Abeg make i go fetch water with my basket jari.
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Re: Fuel Subsidy Not Removed - Osinbajo by limitless777(m): 11:17am On May 14, 2016 |
UNDERSTANDING THE ARGUMENT OVER THE SO-
CALLED REMOVAL OF FUEL SUBSIDY .........Barr. Emeka Ugwuonye (C. E. O. ECULAW GROUP) Charles Novia wrote ; I just had a conversation with a top management ex-staff of NNPC. And he was honest with me. I actually just left his house. I wanted to find out more about this so-called fuel subsidy removal and I asked him a lot of questions. 'So many marketers, including the NNPC itself, had millions and millions of litres in stock before this increase and they bought it at the old rate. What has happened since two days is that some people who had stock bought at the old rate have 'hammered'. It's free money for a lot of people if you work the mathematics' He said. I worked the maths myself silently and shook my head. So much for the lies about not creating overnight billionaires fed to the gullible public. I asked him another question. 'Is this deregulation or price liberalisation?' He answered. 'It's liberalisation. Because the PPRA still has a ceiling placed on the price of what should be sold. If it was deregulation, government or the NNPC or PPRA would not be bothered about fixing prices' 'So, in another way of speaking, you mean to say there is still some subsidy somewhere?' I asked ' There is some sort of subsidy which would only be borne by the products sold at NNPC fuel stations. But no one would tell you that now that we all are singing 'subsidy removal' 'He said. I asked him the crunch question. ' The global price of crude is about $40.' I said. 'What if tomorrow the price of a barrel goes up to $100. How much would out fuel sell at the downstream per litre? Won't it be as high as N300 per litre now that the government says it has no hand in subsidy?' He promptly replied. ' Yes.The more the oil price per barrel rises in the international market, the more the country would pay for fuel per litre at the stations. Maybe as high as N400 per litre if things remain as they are at present' 'Damn! So, if that happens what would the government do? The country would crumble and riot if we are forced to pay that high!' I screamed. He smiled. ' If that scenario happens, my brother, the government would be forced to bring back this same subsidy they have jettisoned partially. And it would be double what we used to pay before. That's why I said the government has not deregulated the downstream because it's still in control. This is just plain liberalisation' Still not out of the woods. |
Re: Fuel Subsidy Not Removed - Osinbajo by nnowu(f): 11:19am On May 14, 2016 |
This is ridiculous |
Re: Fuel Subsidy Not Removed - Osinbajo by BushidoBlue(m): 11:24am On May 14, 2016 |
Thatitan234: [size=18pt] A price band is a fixation: Don't sell above... It was 86 now you say it's a band of #145 Na wa oo [/size] |
Re: Fuel Subsidy Not Removed - Osinbajo by pwettyJasmine(f): 11:25am On May 14, 2016 |
paragon40: A lot is different now, the price of crude oil per barrel is different that on its own says a lot |
Re: Fuel Subsidy Not Removed - Osinbajo by jkarmstrong(m): 11:25am On May 14, 2016 |
There is nothing simple about the VP's statements. That it has managed to confuse a good many of us with more than average level of intelligence means no reasonable person would label it that. And it's all on him. One shouldn't possess esoteric comprehension powers to understand the VP. There must be an easier way to say what he has said, and if there is not he shouldn't have said it all. Perhaps he doesn't properly understand it. If you can not explain it to a six year old-----says Einstein----then you do not truly understand it. Anyway if I get the VP, and the good people merciful enough to lend flesh to his thoughts, then the fuel price hike owes more to forex unavailability at the official rates than to the insignificant fuel subsidy removal. Because of it fuel importers couldn't import fuel at all driving it up to the # 200 and #250 of not so long ago. The government to eliminate this, and to presumably better the people's lot, is basically saying to the importers get forex wherever you can, at whatever price------they speculate at 285 naira to a dollar------import the fuel, make your profit, but do not sell it above 145. Fair enough. Great in fact. The only problem is what happens if the naira crashes further to the dollar----this is not inconceivable----maybe to 500 naira to a dollar, a price where the fuel importers and marketers can not afford to stay in business selling fuel at the 145 fixed rate, do they now close up shop and stop to sell fuel leading invariably to scarcity and the automatic increase in price? Or do the collude now with the government to announce another parody figure of a fixed rate. Whichever way we will be back exactly where we are now. |
Re: Fuel Subsidy Not Removed - Osinbajo by Makarous(m): 11:33am On May 14, 2016 |
Pavarottii:they never said they deregulated fully... |
Re: Fuel Subsidy Not Removed - Osinbajo by Realist2: 11:35am On May 14, 2016 |
Pidggin:me too i am confuse even my neighbour by side is confuse, in fact the whole of my community is confuse. Osinbajo is even confuse more than us he is just talking for talking sake, did Buhari remove subsidy or not?. 1 Like |
Re: Fuel Subsidy Not Removed - Osinbajo by rhektor(m): 11:41am On May 14, 2016 |
I just don't gerrit, someone please explain this to me |
Re: Fuel Subsidy Not Removed - Osinbajo by HardMirror(m): 11:42am On May 14, 2016 |
dukecharles:What is it with "gej is the best thing.." Gej, Obj, Buhari are all terrible leaders. Let's call a spade a spade. They are all the reason for the woes we face as a nation today. Why exonerate Gej? Until we are frank with ourselves we won't move forward. Shame on every buhari supporter, shame on every Gej supporter 1 Like |
Re: Fuel Subsidy Not Removed - Osinbajo by pjsmart(m): 11:46am On May 14, 2016 |
In my opinion what a reasonable government should have done was to fix the real cost of fuel importation and landing (which is around 96+) for NNPC filling stations while other marketers sell at their own prices. As is the case in education where public schools have fixed lower prices and the public have a choice. also seen in the health sector and other sectors too. Fixing the price for everyone? then something is fishy 1 Like |
Re: Fuel Subsidy Not Removed - Osinbajo by SHAIBULIAR: 11:48am On May 14, 2016 |
Pidggin:me too |
Re: Fuel Subsidy Not Removed - Osinbajo by Yksoul(m): 12:04pm On May 14, 2016 |
paragon40:MY FRIEND POLITICIANS ARE THE SAME,DONT COME HERE AND STILL SUPPORT GEJ OR PDP,IF GEJ OR PDP WINS 2019 ELECTION THE WOULD INCREASE FUEL PRICE FROM #145 TO #200 MARK MY WORD.GO AND CHECK OIL PRICE RECORD,THEY APPRECIATE |
Re: Fuel Subsidy Not Removed - Osinbajo by olalol(m): 12:08pm On May 14, 2016 |
Hengineer: |
Re: Fuel Subsidy Not Removed - Osinbajo by Nobody: 12:10pm On May 14, 2016 |
MisterGrace: **** this is how they will keep deceiving you and you will be falling for their deceit **** |
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