jmslimx:

For all i know the bubble will soon burst in this nigeria we are where leaders and politicians are greedy and not care about about 70% unemployment, no roads , education zero , it will soon burst i know that, we are watching we are waiting,

It will soon burst because the thieving leaders have overdone the corruption. They have embezzled so much that they have become endangered and at the risk of the anger of the masses who no longer have anything to lose.

Pukkah:

It will soon burst because the thieving leaders have overdone the corruption. They have embezzled so much that they have become endangered and at the risk of the anger of[b] the masses who no longer have anything to lose. [/b]

Yes ooooo

tell them as it is

You spoke well my daughter,may God bless you.

This might just be the one that breaks the camel's back.

Subsidy must go bla bla bla. . . . . But we should continue subsidizing the obscene lifestyles of our elected officials. No way.
It must go but the govt won't bother naming those that have been sabotaging the economy. No way.

4 more refineries will negate the word subsidy automatically but if this is not commonsensical enough to Jonathan. then removal of subsidy will be the last straw that will break the Carmel's back. and if the unthinkable starts and degenerate. it will be free for all vengeance, Nigeria will BOOM!!!!!  Am too sure 80% of our politicians right from military rule till date will not survive the Impact. cos, this is not a divide and rule tactics, this is not about ethnicity or tribal war, this is about survival. then our own end of world will come! . Jonathan you better think!!!

A jona that could not deliver on promised 18k minimum wage for Nigerian workers how could he be thought to deliver on anything.
The man is an epic failure. It serves the 'vote jona not pdp' right. It seems pdp is even better than its paraded presido.

I support the removal of subsidy. Most of the profits being made in this subsidized petroleum are by those who end up selling them at high price in neighboring countries thereby causing artificial scarcity in the country. Not only that, the importers are making hell of money in the presence of subsidy which supposed not be. Should the nation continue to chuck large amount of it income into greedy individuals pockets or look for way to make use of its income for the good of the citizens?  My concern is if the govt. will be able to create poverty alleviation programs with this huge amount of money for the poor. Having said that, we shouldn't see this subsidy removal as a way to punish the poor but way to regulate the wasting the national income. At the end we find out that the rich are the ones enjoying this subsidy because they are the ones who own lots of cars and running many of the public transports.

The subsidy we have seen here has not really uplifted the lives of ordinary Nigerians yet the govt. is dishing out such huge amount of money into some greedy elements pockets each year.

ttt

^^^
The question is who are the people really benefiting from the subsidy?

Subsidy works more for petrol, it is not even working for kerosene. The price of kerosene is still high.

The solution is to build more refineries, be it public or private. When we can satisfy our own demands without importing then we can get rid of the subsidies.

I think this is what will finally unite Nigerians, to stand up and chase all our enemies (politicians) to the desert. Gabriel Suswan, you are one of the cartel. Why are you afraid of mentioning their names? GEJ, if you like, listen to the voice of reason (wisdom) or, harden your heart like Pharoah, the bubble must surely burst. You are warned!

Well if GEJ removes the subsidy it may trigger the revolution that Nigeria has avoided to date. I still can't understand why the multi-millionaire politicians will not take a pay cut. A pay reduction of 1% a year is a joke!

jmoore:

Subsidy works more for petrol, it is not even working for kerosene. The price of kerosene is still high.

The solution is to build more refineries, be it public or private. When we can satisfy our own demands without importing then we can get rid of the subsidies.

The private sector won't build refineries when they have no chance of recouping costs because fuel is sold below costs. Why do you think they haven't bothered?

The Govt could build refineries but this will be in addition to the 4 they already own and we know the Govt's record in respect of refineries.

i think we guys should be ready 4 revolution this is what i can call FIFI OBO LONIYAN OF THE HIGHEST ORDER we should form an association here on nairaland instead of abusing ourselves, thatS what they did in countries that have access to the internet, if we enlighten our people they will get angry of their situation, and things will change, we all know that our entertainment industry is nothing to write home about on the issue of using songs to criticize politicians they all sing about love all the time had it been the likes of papa felA are here things will not be like this but we too can do it, THROUGH GOOD MEANS LETS STRATEGIZE INSTEAD OF CRITICIZING,

4 Play:

The private sector won't build refineries when they have no chance of recouping costs because fuel is sold below costs. Why do you think they haven't bothered?

The Govt could build refineries but this will be in addition to the 4 they already own and we know the Govt's record in respect of refineries.

Diesel has been deregulated. Is there any reason why the private sector is not taking advantage of this?

i think it is important to shed some light on this subsidy.
in the past when we had working refineries crude oil produced at source was pumped directly to the refineries out of the Federation share(note they share all oil produced with oil majors e.g SHELL) and then sold at the controlled price. the remainder of the federation oil was sold and then shared as such subsidy is paid by states and FG and there was no derivation
the refineries did NOT pay for the oil as they were government owned and some form of centralized accounting took place.
again,note that in those days officially we were doing something like $1 to 70 kobo and a litre was about 20 kobo

typically a barrel of oil equal 160 litres which at 20 kobo per litre was 32 naira or $45 dollars for most of the 70s and early 80s.
as such it is doubtful if there really was a subsidy then.
following babangida's devaluation of the naira evrytin scatter scatter

Now the government sells ALL the oil and then shares according to formula as such all the subsidy is removed after sharing from ONLY the FG's share
the dollar is doing 1 to 15000 kobo and a litre 6300 kobo or so this works out at about $67 a barrel of oil (REFINED PRODUCT) obviously there is a considerable subsidy which would make a grudging amount of sense if the refineries are in nigeria. as they are not it is clearly NOT sustainable and has to stop. the question is how. gradually or abruptly
and when.
the problem is the naira is NOT stable and does not look like it will be given our taste for nice things and our inability to produce them

if the refineries were to come back to nigeria question is

will they pay for crude oil??
if NOT which tier of government will be responsible.
it looks like there are really tough times ahead for nigerians and GEJ does NOT have the ideas to solve them. we have a huge unemployment problem. sadly even if we grow our economy through agriculture it will NOT translate into more jobs. in fact quite the contrary as has been shown elsewhere when mechanized farming is adopted; there is a massive loss of jobs in the unskilled segment which is massive in our case.

i see a growth in the church sector as well as boko haram

What is difficult in arresting and annihilating the cartel that is stealing the subsidy? Why is GEJ not using his powers? Why is he terrified to fight corruption? Fight corruption and everything will be ok.

according to the US department of energy it costs about 104 naira to PRODUCE a litre of petrol (15 naira refining) based on $100 a barrel. as such  IF the naira remains stable you really cannot expect a PRIVATE refinery to sell petrol for under 120 naira a litre.

personally i do NOT believe the naira will be stable

so what to do

we must have a strong refining sector in nigeria i.e a profitable one to encourage growth and technology and secondary suport industry as such the subsidy has to go. the spotlight has to be on other areas where government is corrupt and inefficient. public transport and infrastructure are key and removing policemen from the roads as they add huge costs to business should help reduce the pain but believe me we have had a lot more pain inflicted on us with the silent money printing of babangida which was never announced. do not forget that when HE came to power a bottle of coke was 50 kobo a flight from lagos to PH was about 50 naira

Fight corruption and we will have good roads, constant electricity, good and stable fuel and price, good and efficient police and millitary, minimal unemployment, good educational standard, good leadership, etc. The government knows that the key is fighting corruption to stand still. If the people in the government are not making good use of the money at their disposal now, how much more that from the subsidy removal?

the whole world knows that our leaders think with their anus not brains.we are producers that starve on what we produce. quite ironical.

GEJ should please listen.

people talking abou reducing recurrent expenditure should get some facts.
this subsidy is a MAJOR recurrent expenditure.

but this is also why i do not believe in GEJ one bit.
i do NOT believe that he initiated or understands why this is being done.
he is NOT the driver and so cannot sell it to the people.


if there is to be a subsidy why should only the the FG pay for it.
why is there no contribution on a state by state basis by the states that consume.

personally i do NOT believe the skies will come down.

in 1985 we were paying well under one naira and now we pay 70
in the US they paid 1.20-1.80 a gallon and now i believe about $4 or so

there are even more serious problems afflicting our economy

we import too much
we produce too little
corruption

please as u are removing the subsidy, remove the immunity clause also .

Revolution in the works. smh

how are other oil producing countries doing it? For those comparing us to the US and Uk also remeber that food is highly subsidized and is very cheap in those places. Also, the have very good and efficient transportation system and their per capita income is much higher than ours.

^^^
Then what do you think of Benin, Niger and other neighboring countries where these petroleum are hoarded? Come on!

dustydee:

how are other oil producing countries doing it? For those comparing us to the US and Uk also remeber that food is highly subsidized and is very cheap in those places. Also, the have very good and efficient transportation system and their per capita income is much higher than ours.

doing what??

oil prices in norway are twice what they are in the US probably the dearest in the world
britain another oil producer is quite expensive too.

it is not prudent to dash the oil to your citizens because you are a producer.

let us imagine that oil is a resource that belongs to us and those nigerians that have not yet been born then we should invest it not just waste it . we would do well to copy the likes of norway not the likes of libya or venezuela

aribisala0:

doing what??

oil prices in norway are twice what they are in the US probably the dearest in the world
britain another oil producer is quite expensive too.

it is not prudent to dash the oil to your citizens because you are a producer.

let us imagine that oil is a resource that belongs to us and those nigerians that have not yet been born then we should invest it not just waste it . we would do well to copy the likes of norway not the likes of libya or venezuela

It appears some folks fail to notice that every country in the world, irrespective of their situation, attempts to confer an advantage to its populace and local businesses. EVERY COUNTRY!!.

Forget about the UK and USA and Norway that you are talking about.

Why do you think import tariffs and quotas exist?
Why do you think the U.S.A places import tariffs on Brazilian Biofuel? Simple. . because Sugar Cane is indigenous to Brazil and is  a more efficient means of producing Biofuel in comparison to the Corn produced by U.S Farmers. As a result, the U.S Government places tariffs on Brazilian Biofuel that make the landing price unfavorable.

Open your eyes and look around the world, you'll see countries protecting their local producers and populace.

Why did the U.S have quotas on Japanese made cars several years ago? Quotas that essentially forced those companies like Toyota to open factories in the U.S.


It is only delusional people that believe in a complete free market. Why are American companies offshoring to get better prices?


If Venezuela sells fuel for N10 per litre, to whose benefit is it? is it not to the people and companies there? Does it not give them an advantage. Is it wrong to give your people an advantage.

The U.S government subsidizes The American Agricultural sector to a mind blowing extent. To the point wherein America produces half the grain produced on this entire planet in one year. That is  AMERICA PRODUCES 50% OF ALL GRAIN PRODUCED ON EARTH ANNUALLY!!! 


If Kuwait, Saudi Arabia, and other countries choose to sell for lower, it is to their advantage.

So. . . Mr/Ms Aribisala0. . . .

HERE IS MY CHALLENGE TO YOU:

WILL YOU SEND YOUR CHILD TO A NIGERIAN PUBLIC SCHOOL WHEN YOU CAN AFFORD A PRIVATE SCHOOL JUST BECAUSE IT CONFERS NUMEROUS ADVANTAGES TO YOUR CHILD OVER THE AVERAGE CHILD??



If no, then why can't a country give its population an advantage. If Benin and Niger can't give their citizens, is it our problem?

That is like saying because your neighbor cannot afford to send his son to a good private school, therefore you'll tell your son to sit at home or go to the run down public school.

Equivalent to your daughter asking you for money for books and you telling her that since your neighbor doesn't give his daughter, you won't give her, despite the fact you have more than enough cash

Haba. People should think of helping others.

Since when did Nigeria and Benin become the same category. Are Benin and Niger as blessed as Nigeria.

The Bible says "To Whom much is given, much is required."


BTW. . . go look up how much Norway adds to the price of its gasoline. You'll find out that it taxes its populace dearly. Same as the UK. And that is only because the populace can afford to pay. Those prices reflect tariffs and taxes and never the cost of production.


The Median Household Income in the U.S.A is $43,625 (over N6.8 million) yet they are whining and crying each time gasoline prices reach $4/gallon (N160 per litre)

Yet you look at Nigerians and say that they should pay the same price despite the Median Household Income not even reaching N300,000. And your reason for this is that people in Niger and Benin are paying same price.      

In some places in Europe, an apple costs over $1, why not start selling food to Nigerians for that same rate. 

COOL DOWN JOR.

^^^
Do you ever get it right? This greedy men will sell the petroleum for high price offered by those neighboring countries thereby causing artificial scarcity, which you and I will complain there is not enough to meet demand at home. See it from that perspective, if you couldn't see those importing the products making huge profit to the detriment of the national income.

there is no advantage to our populace from the current arrangement . petrol does not sell for the so called subsidized price.
in fact most of the petrol signed up for maiduguri never leaves lagos.
no need for the fustian twaddle.
venezuela is ranked as one of the most corrupt nations on earth. hardly a role model for us. and even they have refineries that work. nobody imports petrol and then subsidizes it. at least the refineries employ venezuelans and the oil goes direct from well to refinery
norway does not spend their oil revenue on recurrent expenditure i.e salaries and presidentiial jet maintenance. they invest every single penny thus forcing their population to be productive. we sell our oil and use the proceeds to import rice, rotten fish ,turkey and chicken. we need to wake up

please tell me where the apples are so expensive.

almost everything is more expensive now in nigeria

is it food
cars
electronics
clothes
hotel rooms and you get less value for money when i come to nigeria i really doff my hat because it is a ver EXPENSIVE place compared to europe

since you want to quote bible. joseph dreamt and told pharaoh they should tighten their belt during the years of PLENTY TO PREPARE FOR YEARS OF SCARCITY.
that is what they are doing in norway. our oil will not last for ever

all4naija:

^^^
Do you ever get it right? This greedy men will sell the petroleum for high price offered by those neighboring countries thereby causing artificial scarcity, which you and I will complain there is not enough to meet demand at home. See it from that perspective, if you couldn't see those importing the products making huge profit to the detriment of the national income.

And these "greedy men" you talk about (Femi Otedola, Deziani and Friends) are gods abi?
If placed in a cell, the heavens will rage, and the earth will crumble, right?

I suppose the average Nigerian is supposed to keep suffering for the actions of some "greedy men".

This is the equivalent of killing a roach with a sledge hammer.

N65 to N140 for gasoline. And some people dare to ask if Nigerians are benefiting from the price of N65.

jensinmi, it is as if u are really vexed with this aribisala0 guy. I think d guy needs to sit down and reason b4 typing. Comparism has never worked for nigeria and it will never work.