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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra (25086 Views)
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Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by ochukoccna: 7:22am On Jan 02, 2012 |
9ja4eva:Hell yeah! Just like the refineries &roads OBJ built after paying off the World Bank&increasing PMS prices about 8times. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Joey82(m): 7:59am On Jan 02, 2012 |
This damn removal thing shoulda been done in phases (just as Ghana is doing), the consequences will be too much to bear, this fresh air will soon choke all of us. IMF is finally happy now. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 8:06am On Jan 02, 2012 |
Quote from dmainboss
Your lack if reasoning is what makes you assume for the 160 millon Nigerians, even going to the extent of including Prof Tam David-West who has been saying it since that there aint no subsidy! You just demonstrated the typical ignorant people's trait, trying to belittle others opinion as ITK, to mask their lack of intellect. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Nobody: 8:27am On Jan 02, 2012 |
Pee Dee Pee!! Progress!!
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Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 8:29am On Jan 02, 2012 |
Quote from Obiagu1 @ Akainzo,No I did not assume that, that has been taking cared of by the cost of running NNPC. In the 2012 budget with a crude benchmark of $100, are you accusing the GOVT of making the same assumptions? (2) You assumed that the companies that explored, drilled, serviced, produced the petroleum run a charity, hence do not declare profit.Again, this cost is borne and accounted for in the running of the Ministry of Petroleum Resources. Note that NNPC owns 51% stake in these companies and thus earn/share in this profit but nowhere in our budget do you see this earnings stated as it is also termed as part of cost of running NNPC. (3) Nigeria has an unlimited quota hence could increase the volume of her petroleum export to offset the subsidyHaba! Nowhere in my post did I allude to this, Nigeria has a fixed 400,000 barrels of crude allocated for local consumption and I simply showed what that amount can give us in imported fuel. Eh Conversely, are you assuming that Nigeria imports unlimited quantities of PMS? |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Mustay(m): 8:30am On Jan 02, 2012 |
PPPRA announces #fuelsubsidy removal and still wants to set benchmark price for marketers on their website. . . What happened to #marketforces? Eating your cake and wanna have it. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Obiagu1(m): 8:31am On Jan 02, 2012 |
Akainzo: Unfortunately, Prof Tom David-West do not know WTF he's talking about. Government has no oil company that drills and produces oil, do they? The crude oil we export is the property/product of the oil company that explored, drilled, service, and produced them and their product is sold at an international price level. They only pay government royalty; that's how government make their money. Any country that sells PMS at a price way below $1/litre subsidises it. Name one country. Pump price is affected directly by international crude oil price any where in the world. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 8:57am On Jan 02, 2012 |
Obiagu1:A former petroleum Minister for about 3 years doesn't know what he is talking about as regards petroleum subsidy! Na wa o! Obiagu1: You are wrong on above assertion. In Nigeria, we have mostly Joint Venture agreements, which makes FGN through NNPC part owners of the drilling/exploration companies. They therefore share profits and are part owners of the crude. This is why Govt doesn't also show the cost of oil exploration in its own budgeting. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Ovaiegbe(m): 9:02am On Jan 02, 2012 |
N9800 to fill a 70Lt tank car, How much was govt haggling for minimmum wage again? N18000, (Well, them say e go beta, I'm off to the street with anyone who cares to demonstrate. This just Isn't working for me |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Obiagu1(m): 9:04am On Jan 02, 2012 |
Akainzo: That's not a guarantee he knows what he's talking about because if he did say that, then he should cover his face in shame. Akainzo: Government being a part owner of an oil company does not mean that the product of the company should be sold at a different price from market prices. It's not done anywhere in the world and it's very illogical. Being a part owner means that when the company finally declares its profit, like a shareholder, the government takes his share of the profit and fck off. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by whyx06(m): 9:21am On Jan 02, 2012 |
Y did you think removal of fuel subsidy we solve d problem of Nigeria? While cant we remove the salary's of politician first dis can cause any good thing than RIOT in d country |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Nobody: 9:23am On Jan 02, 2012 |
Shebi na Jona una vote for, no be PDP?
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Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by dvee2: 9:41am On Jan 02, 2012 |
It is not about removal of fuel subsidy, The fundamental question is what will happened to the billions of dollers that is going to accrue from that? Some naive persons will say it will translate to developement. i laugh I assure you just like me and you know the money will soon be appearing in swiss banks et all. What Labour and every unbiase observer is saying is- tackle the corruption around it ,increase our refining capacity. not if these had been done all these fuel subsidy removal will come forth to nothing. because the senators,governors,ministers will now have more revenue to steal from and more hardship for the masses. this is the reality. we are all Nigerians we know what will happen. Someone says there will be a dedicated account for it? i laugh againg C`mon who will execute this projects? the same PDP Goons? I will still give my President the benefit of doubt and support his policy,just my observation. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 9:45am On Jan 02, 2012 |
Obiagu1:What are the guarantees that YOY, know what you are talking about? Obiagu1: Again, you make assumptions about what you know nothing about. The US or UK situation is different from Nigeria. Nigeria operates a Joint Venture agreement system. Do read it up. Have you perused any of Nigeria's budget before, if so, please kindly show me anywhere in that budget that States the payments to offset cost of exploring/producing crude oil. If the FGN budget does not show it, why do you only want to introduce it only for discussion on fuel subsidy |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Obiagu1(m): 9:58am On Jan 02, 2012 |
Akainzo: Exploration/drilling, etc is the work of the oil companies and they normally use drilling and servicing companies to do those work. It's part of their operation. I know about Nigerians 40/40/20 with the oil companies. I don't know if it has changed now though. This shouldn't even be an argument at all. There's a company, there's a shareholder, and there's a product. A company markets it product according to market prices. If prices go up, they make more profit but if the prices crash, then they may record loses. So in oil industry, the company is the oil companies like Shell, the shareholder is the government, and the product is the crude. The oil companies sell their products according to market prices. When they declare profit, they give the shareholders including the government part of their profit. If government wants to help out her citizens, then they, the government, pay part of the market price to make it affordable. This is where subsidy comes in. This is as far I can go on this. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 11:15am On Jan 02, 2012 |
Obiagu1: My guy, due to some kinda NDA, I can't go into much details to let you know I know much than you on this. If you're still stuck on a 40/40/20 stuff, you're way off base. Now you should know that cost of crude for a producing country is definitely different than for a non-producing country. Or do you assume that we produce at the same cost sold at international market prices? Our local consumption cost is at an opportunity cost and not at market rates. Or are you one of those armchair economists that profess that a farmer calculate the cost of food to his household at market rates? BTW, your analysis with Shell is very much way off point. Your analysis holds in US & UK due to the nature of their operations, but not in Nigeria, due to our JV model. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by TheOne2(m): 11:33am On Jan 02, 2012 |
@Akainzo Go and sit down somewhere. Subsidy removal is part of "development". At least govt has provided alternatives in bicycles and roads you can trek on. Lazy people, instead of identifying where to buy bicycle and safe trekking routes, you are here complaining. I'm sure you are all ACN- people politicizing this "development" initiative. If you cannot afford Nigeria, move to Cameroun! |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Rad1cal: 11:41am On Jan 02, 2012 |
Akainzo, you have no shame . . So you boldly came here after your lame attempt at lying to defend the LASG oppressing Lekki triple toll gate . The One: Imagine how shameless he is coming here to argue against subsidy removal . . after his previous vain attempt to paint the Lekki toll gates as the best developmental events that could ever happen for the lekki inhabitants Imagine the double pain the Lekki folks are feeling |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by 989900: 11:54am On Jan 02, 2012 |
If fuel was ever subsidized (in the real sense of it) it should be N22/litre. 1. How can you remove what wasn't there in the first place? 2. A non-oil producing country like Singapore, roughly half the size of Lagos has over 8 working refineries, why ain't our refineries working? 3. Can anyone give us one good reason to trust this goverment or any past goverment i.e gurantee this fraud-subsidy money ain't going to where we all know it's going? |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by labamo07(m): 12:10pm On Jan 02, 2012 |
I wonder if we really imagine what negative effect the increase in the fuel pump price would bring to a common man, Production in Nigeria has solely depended on usage of fuel, invariably there would be an increament of 120% or more on every commodity, I foresee so many dislocation of ankles cuz people will rather walk than to pay triple price for transportation, N20 downwards will be invaluable, Una go jus die of hunga |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Nobody: 12:28pm On Jan 02, 2012 |
Jonathan's promise of "FRESH AIR"! Please read, F= Fuel subsidy removal R= Religious and ethnic crises E= Expands in bombings frm one part of the country 2 anoda S= State of emergency in Borno, others H= High rate of poverty and unemployment A= ASUU strikes I= Insecurity in the 2012 budget R= Restlesness and frustration in our youth. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by TheOne2(m): 2:39pm On Jan 02, 2012 |
Nigerians just like freebies. They want to use fuel and not pay for it. The govt does not owe you anything. Even though you provide light, water, security, road etc for yourself, you still shouldn't expect anything from govt. GEJ, go on soun with your "development" initiatives jare. Nigeria oni baje o! |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Ovaiegbe(m): 2:40pm On Jan 02, 2012 |
@ joey "This damn removal thing shoulda been done in phases (just as Ghana is doing), the consequences will be too much to bear, this fresh air will soon choke all of us. IMF is finally happy now." I agree with you. This govt promised to cushion the effect of the removal only to wake us up with this rude shock. A man has to generate his own electricity, maintain his own transportation system, organise his own security and this inept govt will not give us a breathing space. We need to let govt know we can not be taken for granted. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by pearls2pat: 2:44pm On Jan 02, 2012 |
(Govt. should make sure it get rid of the illegal refineries which litter the Niger-Delta so that the hoarding and irregular pricing system don't automatically enter into the plan. Those who own the illegal refineries might sell their gasoline at a price lower than the pump price by the govt. if not abolished, thereby leading to hoarding of fuel to neighboring countries and also prevent dealers from purchasing from the national producers.) THESE ARE NOT THE PROBLEM, BUT OUR LEADERS(RULERS) LACKING THE POLICAL WILL AND SIMPLE MANAGERIAL SENSE TO LEAD THIS COUNTRY. I DONT SEE HOW ILLEGAL REFINERIES AND SELLING BELOW APPROVE PUMP PRICE WILL LEAD TO HORDING,RATHER SUCH WILL LEAD TO PRICE CRASH' THESE REFINERIES YOU CALLED ILLEGAL SIMPLY BECAUSE THEY DONT HAVE GOVERNMENT APPROVALS,ARE THEY NOT BETTER THAN THE LEGAL ONES THAT HAVE REFUSE TO START OPERATION MANY MONTHS AFTER GETING THE REQUIRED LICENSES. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by tlops(m): 3:35pm On Jan 02, 2012 |
I saw this: I think about GEJ's vision for Nigeria in 2012 and I tell maself ", aal izz well!" |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by BetaThings: 3:43pm On Jan 02, 2012 |
http://www.businessdayonline.com/NG/index.php/analysis/commentary/24821-missed-milestones-of-the-power-sector-roadmap Missed milestones of the power sector roadmap Anybody can make promises |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by tlops(m): 3:50pm On Jan 02, 2012 |
some interesting comments on FB! "Una wey dey broadcast wetin Patience Jonathan talk, shebi u don happy now? Let me see how easily una go fit put fuel inside generator to charge the fakking blackberry wey una dey use broadcast all those rubbish. IDIATS. If u talk again, na NEPA bill go increase. " |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Nobody: 5:53pm On Jan 02, 2012 |
How many Nigerian citizens are actually paying their taxes? No offense to anybody,though, the system is not working properly or altogether not functioning. |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by tlops(m): 6:30pm On Jan 02, 2012 |
Goodluck Nigeria!!!! |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by stunna2(m): 10:35pm On Jan 02, 2012 |
cap28: THANK U MY GUY FOR HAVING THE ENERGY TO RESPOND TO THIS @dmainboss PERSON IN ALL HIS IGNORANCE OOO!! I READ HIS POSTS AND I JUST SHAKE MY HEAD! WE HAVE FRIENDS IN NIGERIA WHO WORK IN GOVERNMENT WHO COME TO THE STATES EVERY FEW MONTHS AND BUYS ONE NEW CAR OR THE OTHER WITH CASH AND MAY GO HOME AND BOASTS HOW WE LIVE HANDS TO MOUTH HERE COMPARED TO HIM AND WHILE THAT IS DEBATABLE, WHAT FACT THAT HIDES IS WHAT YOU BROUGHT OUT - SUCH A PERSON LIKE THIS BIG MOUTH ABOVE IS NOT AN AVERAGE NIGERIAN! PLS WHEN WE R TALKING ABOUT THE AVERAGE NIGERIAN, DO NOT COME HERE AND TRY TO HIJACK THE STORY IF YOUR LIFESTYLE CLEARLY SHOWS YOU R NOT ONE OF THEM, K, IT MAKES U SOUND DUMB NOT KNOWING WHO THE AVERAGE ORDINARY NIGERIAN IS! THANKS GUY FOR RESPONDING TO MAINBOSS |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Nobody: 10:39pm On Jan 02, 2012 |
^^^ What have you done to arrest this kind of situation from happening? What have you done to stop that man buying house every now and then? |
Re: Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra by Akainzo(m): 12:06am On Jan 03, 2012 |
Rad1cal: You are indeed a goat with no reasoning abilities, and only has a one track mind like a village goat. So because I believe in the Lekki Toll plazas, I should not be against the fuel subsidy removal? Does the presence or otherwise of the toll plaza based on the price of fuel? Truly money spent on educating you was wrongly spent as you only went there to see buildings and have fun. The Lekki road was expanded prior to the toll plaza being built, how many refineries did GEJ build or how many did he resuscitate prior to this move? You need to utilize your brain a little when you have discussions. |
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