Where is the OP ?  

@OP
Which family has it worse when their commuting to work is compared on a like for like basis?

                                                          Nigeria.         UK
Cost of fuel.                                            140.            325
Average cost per month (per 100 litres).    14000.        32500
Miminum monthly salary.                          18000.        240500
% of salary spent on fuel.                          77.7%.       13.5%

PS: Assumptions factored into the above are as follows,
Exchange rate= 250 to 1 pound
Minimum salary for an adult in the UK is based on the calculation of 6 pounds per hr * 37 hrs a week * 52 woks a year divided by 12

texazzpete:

My point is, subsidy or no subsidy, the much touted future where a myriad of private investors are falling over themselves to set up refineries is a lie.

Since this has been put forward as a very realistic future which would lead to a reduction in fuel price, I am keen on busting that lying balloon.

Forget this talk of private investors, let the Nigerian Government fix the existing refineries and even build a few more! Saudi Aramco puts the cost of constructing a new 400,000 bpd refinery at $6 billion. Ask yourself why the clueless GEJ happily shared out the $20 billion excess crude account to his cronies who frittered it away.

Saudi Aramco can quote for and build refineries, but what is lost on you is that Aramco is Saudi Arabia's equivalent to NNPC. Aramco can also drill oil, bid for oil blocks in foreign lands, and clear oil spills (I recall they offered their expertise to the US during their recent BP spill).
Why do you think NNPC cannot even design a fuel jerrycan, talkless of a full refinery? In one simple sentence, I'll tell you the reason; it is because of the upside down, phucked up system we run. I will explain.

While Aramco is expected to compete and run a profit, every last thing in our NNPC is subsidised. NNPC does not compete with anyone and has never turned a profit in its wretchedly corrupt history (neither is it expected to and neither can it). All that people at NNPC need do to earn a startling wage is turn up for work, because NNPC's very existence is subsidised; it can drain the economy with yearly losses and never go burst. Aramco on the other hand does real battle to stay afloat and thrive and the difference is shown in their valuation; NNPC is not worth a sheet of used toilet roll, but Aramco at $8trillion, is the Worlds most valuable unlisted company.

While Nigeria has subsidised laziness and fuckry in NNPC, so that mental output is less than what one would get from a heap of cow dung; Aramco is deeply into Research and development, they operate on the cutting edge and have a Intellectual Property portfolio that boasts hundreds of patents. They have diversified into shipping with a tanker fleet that plies Europe, Asia and America.

I could go on and on, but it should be quite clear what our id!otic subsidies have brought us. Why then, would any right thinking person oppose a govt that wants to sweep NNPC away and replace it with non-subsidised companies as part of the deregulation that the removal of subsidies is a part of?
Some might argue that Saudi and other OPEC country subsidise fuel at the pump, but those countries tend to have much more oil than Nigeria and populations that however around the 6million mark and below. For them, oil is abundant, for us it is not.

tlops: @ Beaf

you always jump to support GEJ no matter what, try to be objective a little. what should Nigerians expect (not shifting of goal post promises) at the end of this year! Atleast we need to have moved a step closer to the right direction. That is the major fear of Nigerian. Nigerians should not be made to pay for the comfort of the politicians.

Dude, I understand your fear and it is very valid. I too share the same fear, but we have got to take a step away from where we are, if not today, then we'll have to do it tomorrow with even more pain and greater chances of failure.
Everyone has been traumatised by the stup!d policies and reckless attitudes of our so called leaders, most of whom couldn't give an arse about how you and I exist.

However, as you know, I have always had faith that GEJ has the sincerity of heart toward Nigeria to set us on the right path. It is for the people to for once, have faith in a govt leader and back GEJ now. In backing him though, let us be totally clear about what our expectations for the better are; let us tie him down to his word that we will begin to see positive changes in 6 months from now, afterall June is not far off.

If this all comes out right, the pay off will be something Nigerians will forever cherish as the turning point in our national development.

In Britain there is free health care.
In the US only about 13milion people is not covered by health insurance
In Canada there is free health care and most other developed
countries in the world plus other important benefits they get from their govt.
Most of these countries, if not all have free education to at least secondary school level.
There is constant electricity, good road networks, and efficient police force and relaxation parks
for its citizens. Tell me what your government is providing for you in Nigeria. NOTHING other than abetting
corruption

Beaf:

Saudi Aramco can quote for and build refineries, but what is lost on you is that Aramco is Saudi Arabia's equivalent to NNPC. Aramco can also drill oil, bid for oil blocks in foreign lands, and clear oil spills (I recall they offered their expertise to the US during their recent BP spill).
Why do you think NNPC cannot even design a fuel jerrycan, talkless of a full refinery? In one simple sentence, I'll tell you the reason; it is because of the upside down, phucked up system we run. I will explain.

While Aramco is expected to compete and run a profit, every last thing in our NNPC is subsidised. NNPC does not compete with anyone and has never turned a profit in its wretchedly corrupt history (neither is it expected to and neither can it). All that people at NNPC need do to earn a startling wage is turn up for work, because NNPC's very existence is subsidised; it can drain the economy with yearly losses and never go burst. Aramco on the other hand does real battle to stay afloat and thrive and the difference is shown in their valuation; NNPC is not worth a sheet of used toilet roll, but Aramco at $8trillion, is the Worlds most valuable unlisted company.

While Nigeria has subsidised laziness and fuckry in NNPC, so that mental output is less than what one would get from a heap of cow dung; Aramco is deeply into Research and development, they operate on the cutting edge and have a Intellectual Property portfolio that boasts hundreds of patents. They have diversified into shipping with a tanker fleet that plies Europe, Asia and America.

I could go on and on, but it should be quite clear what our id!otic subsidies have brought us. Why then, would any right thinking person oppose a govt that wants to sweep NNPC away and replace it with non-subsidised companies as part of the deregulation that the removal of subsidies is a part of?
Some might argue that Saudi and other OPEC country subsidise fuel at the pump, but those countries tend to have much more oil than Nigeria and populations that however around the 6million mark and below. For them, oil is abundant, for us it is not.

anyone reading this diatribe from beaf would doubt if this is the same beaf who has an aunty alison bling bling madueke as chairperson of NNPC

didn't you spam this board last year with all sorts of stories about how gej was cleaning up the nnpc, the first ever audit of the nnpc, etc?

who do you think you are fooling?

is it not your aunt who basically gave oil blocks to chris aire? who was shaking down marketers to contribute to gej's campaign?

and you have the gall to come here and sputter about how corrupt nnpc is?

fuel subsidy must be removed. You can't keep subsidizing consumption. Nigeria is borrowing the money that it is using to fund the subsidies and if the money isn't diverted to activities that generate economic growth Nigeria will have a large debt profile with nothing to show for it. Greece and other countries in Europe are now facing the consequences of borowing money to fund consumption.

People should stop expecting the Federal Govt. to build refineries because govnernment should not be in the businesses of building refineries. Just look at how poorly the 3 refineries Nigeria has are being managed. Nigeria needs to expedite the process of getting private companies to build refineries, which will help to bring down the price of fuel.

jay bee:

@OP
Which family has it worse when their commuting to work is compared on a like for like basis?

Nigeria. UK
Cost of fuel. 140. 325
Average cost per month (per 100 litres). 14000. 32500
Miminum monthly salary. 18000. 240500
% of salary spent on fuel. 77.7%. 13.5%

PS: Assumptions factored into the above are as follows,
Exchange rate= 250 to 1 pound
Minimum salary for an adult in the UK is based on the calculation of 6 pounds per hr * 37 hrs a week * 52 woks a year divided by 12

This is a dishonest comparison.
Firstly, you have not included fractions for rent or taxes. Secondly, the UK didn't get to where it is today because of oil subsidies (yes, the UK is one of the Worlds top oil producers).

We all need to desperately want Nigeria to attain the UK's standards and we cannot do that by effectively subsidising the indolense in the system.

Mr trueword: is it now our problem is the refineries arent well managed, or isnt the govt putting their own people there to sabotage the thing,

they say subsidy is for other projects, when they didnt take away the subsidy, which project did they do, rather they are using almost a billion for food. na moon dem dey chop d food abi no b d same naija we dey,

even if you want to remove subsidy, wont you cushion it, cant you take it out bit by bit,

Beaf:

This is a dishonest comparison.
Firstly, you have not included fractions for rent or taxes. Secondly, the UK didn't get to where it is today because of oil subsidies (yes, the UK is one of the Worlds top oil producers).

We all need to desperately want Nigeria to attain the UK's standards and we cannot do that by effectively subsidising the indolense in the system.

Rent is subsidised for the poorest in the UK

Both countries cnt b compared.Most Nigerians will nt complain if dey re assured dat d moni will nt go into d pockets of private individuals.D level of corruption in govt in too much, nd dats y d people find it hard to trust govt.If only govt cn use dis moni for d people,d hrdshp will nt b much,

jay bee:

Rent is subsidised for the poorest in the UK

like 90% subsidy.
people on housing benefits pay how much per month of their rent?

if the monthly rent is £600, the government is paying £530 per month for the poor folks.

Beaf:

While Aramco is expected to compete and run a profit, every last thing in our NNPC is subsidised. NNPC does not compete with anyone and has never turned a profit in its wretchedly corrupt history (neither is it expected to and neither can it). All that people at NNPC need do to earn a startling wage is turn up for work, because NNPC's very existence is subsidised; it can drain the economy with yearly losses and never go burst. Aramco on the other hand does real battle to stay afloat and thrive and the difference is shown in their valuation; NNPC is not worth a sheet of used toilet roll, but Aramco at $8trillion, is the Worlds most valuable unlisted company.

You are quite dim to say this - if the Saudi refineries were buying oil at international market prices, do you think they would be selling petrol that cheaply? Regardless of what you say, the aspects of Saudi Aramco supplying domestic fuel is subsidized.

You are too daft to comprehend the difference between a well run organisation and a corrupt one that is incapable of tying its shoelaces.

The subsidy on petrol is not the problem of the NNPC - it is the lack of will on the side of the government to tackle corruption.

teeluv:

Mr trueword: is it now our problem is the refineries arent well managed,  or isnt the govt putting their own people there to sabotage the thing,

they say subsidy is for other projects, when they didnt take away the subsidy, which project did they do,  rather they are using almost a billion for food. na moon dem dey chop d food abi no b d same naija we dey,

even if you want to remove subsidy, wont you cushion it,  cant you take it out bit by bit,

Nigeria spent about $7.5 Billion on fuel subsidy which is a whole lot more than 1 billion Naira. If private companies are sinking their own money into building refineries I highly doubt they would allow some kind of sabotage to derail their project and cause them to lose millions/hundreds of millions of dollars.

Nigeria annual budget is about 75% for salaries and consumption while 25% was for capital projects. For Nigerians to start feeling impact of economic growth the FG needs to be spending at least 50% of the budget on capital project which will help to generate employment and economic growth.  

If the $7.5 Billion dollar is used on projects which impact people directly in a positive way people will start to feel the 7.5% annual growth of the Nigerian economy.  

I suppose they could remove it in increments but I guess they feel they must remove it all at once because of the direction it would send the economy if it isn't.

The FG did mention some of the things they were going to do with the money but I dont remember.

[quote][/quote]
Make devil roast ya mouth EWU of the highest order.
na naija be dis
no be England

Now I'm convinced some Nigerians in UK are fools,

Mr Uk.

I got an offer to teach in Church in UK 2006 (part time teacher), my annual Salary was 12,000pound. then it was 140 to 1pound. I was earning more than a Zenith Bank fresh graduate and that time, Zenith bank was paying higher than every other Bank. I know uk more than u. I schooled there right from my primary days.

debosky:

You are quite dim to say this - if the Saudi refineries were buying oil at international market prices, do you think they would be selling petrol that cheaply? Regardless of what you say, the aspects of Saudi Aramco supplying domestic fuel is subsidized.

You are too daft to comprehend the difference between a well run organisation and a corrupt one that is incapable of tying its shoelaces.

[size=18pt]The subsidy on petrol is not the problem of the NNPC - it is the lack of will on the side of the government to tackle corruption[/size].

May u live long. . .

debosky:

You are quite dim to say this - if the Saudi refineries were buying oil at international market prices, do you think they would be selling petrol that cheaply? Regardless of what you say, the aspects of Saudi Aramco supplying domestic fuel is subsidized.

You are too daft to comprehend the difference between a well run organisation and a corrupt one that is incapable of tying its shoelaces.

The subsidy on petrol is not the problem of the NNPC - it is the lack of will on the side of the government to tackle corruption.

You amaze me. Do you "fight" corruption and leave the system that generated loopholes intact?

You are a fool. I can understand though that you are only trying in vain to keep your doomed corrupt links going.
Maybe you are too stup!d to understand that the Saudi population is just 27 million, yet they have proven reserves of 264.52billion barrels compared to Nigeria with a population of 167million and only 37billion barrels of proven reserves; so they can afford to pay a fraction of the pump price. We can't.

Nigeria keeps producing fools like you from our half baked education system, only for you to come up with ideas that will make a kid from practically any foreign country burst into weeping on your behalf. Our petroleum sector can only produce cretins like you, apes that sit on their fat arses, fart all day and get a whopping salary. The corruption in NNPC is 100% due to the fact that they don't need to think to make a living, because every phucking thing is subsidised. While their foreign compatriots are applying for patents and turning out profits year-in-year-out.

Wicked fools like you will always root for the NNPC to remain as it is; whereas other countries petroleum institutions are making strides in development. You most likely benefit from the theft at NNPC anyway, so I am not surprised that you want it to remain as it is.

Beaf:

You are a fool. I can understand though that you are only trying in vain to keep your doomed corrupt links going.
Maybe you are too stup!d to understand that the Saudi population is just 27 million, yet they have proven reserves of 264.52billion barrels compared to Nigeria with a population of 167million and only 37billion barrels of proven reserves; so they can afford to pay a fraction of the pump price. We can't.

Then why did your retarded self make Aramco as an example? Were you too stupId to realise these facts about Saudi before you made your idiotic post? You need to shut up and discuss fishing in rivers because your mental faculties are not useful for anything else.

Wicked fools like you will always root for the NNPC to remain as it is; whereas other countries petroleum institutions are making strides in development. You most likely benefit from the theft at NNPC anyway, so I am not surprised that you want it to remain as it is.

Not only are you dim, thick and daft, you are unable to read - the NNPC has been reshuffled over 4 times in the last 20 years - from the creation of SBUs to Project Pace with no improvement. The issue remains the lack of will on the side of government to tackle corruption.

Painting lipstick on a pig cannot change a pig and that is what your foolish leader is doing.

If we start protesting, striking etc and the police start detainng and shooting people, IMF and the West will denounce GEJ and he will be more confused.

What Nairalanders need to do is form a forum with a face or faces.
Contact Reuben Abati or someone close to GEJ to help us get an appointment with him.
At the meeting with GEJ, we tell him to return to 65 naira the cost of petrol
Fix and build more refineries.

I promise you he will tell us he will do as we wish (and he might) and to top it all, we will leave Aso rock with transport money.

GEJ has no idea, ; he will whatever anybody tells him to do without thinking it through, so long as the person approaches him with a smile.

Why comparing Nigeria and UK ? They are different economy . Things work better in UK than Nigeria.

debosky:

Then why did your slow self make Aramco as an example? Were you too silly to realise these facts about Saudi before you made your idiotic post? You need to shut up and discuss fishing in rivers because your mental faculties are not useful for anything else.

If you were not a fool, you would have read what was written about Aramco and understood it, but I guess that is not for thieves and vultures who wish NNPC will always be there for them to milk the populace.
Whether you like it or not NNPC is also billed to be dissolved. Let phuckers like you weep buckets, it won't change a thing.

debosky:

Not only are you dim, thick and daft, you are unable to read - the NNPC has been reshuffled over 4 times in the last 20 years - from the creation of SBUs to Project Pace with no improvement. The issue remains the lack of will on the side of government to tackle corruption.

Painting lipstick on a pig cannot change a pig and that is what your foolish leader is doing.

You are even more stup!d than I estimated. NNPC is not going to be reshuffled, your whole phucking NNPC paradise of corruption is going to be swept away, with people like you kicking and screaming; so cry blood if you like.

Dunce.

Petrol in libya is N2.20kobo per litre. In Algeria,it is N31.00. In Venezuela, it is N17.00 and Venezuela has about 40 functional refineries within and outside the country. Libya has free education,free health services,free power supply and free telephone services for the citizens.
Britain has unemployment benefits,national health insurance, functional alternative transport systems and many other benefits for the citizens.
What does the Nigerian government have for its citizens? Absolutely nothing other than removal of subsidies to cover up for the govt's inefficiencies and maladministration!
we generate our own power supply via generators in Nigeria because power supply from the National Grid is erratic.In my area, there has been no power for about two weeks. The residents in my area have been using generators powered by petrol and diesel. Even without electricity supply,the electricity bills come regularly and we are expected to pay for what we did not use.
Yet the govt is increasing the cost of petrol from N65.00 to N150.00 and an insensitive UK based Nigerian who is enjoying 24 hour power supplyin the UK is justifying this wicked act.
How many residents in the UK have petrol generators? Every home in Nigeria has one.

REVOLUTION IS THE SOLUTION FROM TOP TO BOTTON, ARE WE APES or MONKEY, ?

Infact where is all the trillions and billions going, There Banks or Wat,

BOKO HARAM NEED TO FACE FG

@ poster, it seems u ve been hired by them to talk us into buying petrol at that price. better tell them that in uk,  people dont run their generators to have electricity. their government provided un interupted power supply.  but  since today, i have been running on generator. got a litre for  150 naira. i have used more than 10 litres today.  do i pluck money from trees

Beaf:

If you were not a fool, you would have read what was written about Aramco and understood it, but I guess that is not for thieves and vultures who wish NNPC will always be there for them to milk the populace.
Whether you like it or not NNPC is also billed to be dissolved. Let phuckers like you weep buckets, it won't change a thing.

You told untruths and were called out on it - Petrol is subsidized in Saudi Arabia. If you can't get facts straight, expect to be shown up for the mendacious twit that you are.

You are even more stup!d than I estimated. NNPC is not going to be reshuffled, your whole phucking NNPC paradise of corruption is going to be swept away, with people like you kicking and screaming; so cry blood if you like.

The predecessor of the NNPC was the NNOC - it was also corrupt and useless. You are completely lacking in any cognitive ability if you feel 'sweeping away' the NNPC is the issue. The issue is corruption - as long as GEJ is actively encouraging corruption and lacks the will to fight it, whatever replaces the NNPC is bound to be corrupt.

The difference between Nigeria and UK is immense.

Sometimes I wonder do Nigerians aboard realize life aboard isn't the same as life in Nigeria. Nigerians back home are not as privileged as UK citizens neither are they making the same amount of money as Nigerian citizens neither are they as poor as your average Nigerian. That is biggest difference. A UK citizen can avoid the doubled gas price, a Nigerian citizen unfortunately cannot.

knowledge4:

Petrol in libya is N2.20kobo per litre. In Algeria,it is N31.00. In Venezuela, it is N17.00 and Venezuela has about 40 functional refineries within and outside the country. Libya has free education,free health services,free power supply and free telephone services for the citizens.
Britain has unemployment benefits,national health insurance, functional alternative transport systems and many other benefits for the citizens.
What does the Nigerian government have for its citizens? Absolutely nothing other than removal of subsidies to cover up for the govt's inefficiencies and maladministration!
we generate our own power supply via generators in Nigeria because power supply from the National Grid is erratic.In my area, there has been no power for about two weeks. The residents in my area have been using generators powered by petrol and diesel. Even without electricity supply,the electricity bills come regularly and we are expected to pay for what we did not use.
Yet the govt is increasing the cost of petrol from N65.00 to N150.00 and an insensitive UK based Nigerian who is enjoying 24 hour power supplyin the UK is justifying this wicked act.
How many residents in the UK have petrol generators? Every home in Nigeria has one.

good points

debosky:

You told untruths and were called out on it - Petrol is subsidized in Saudi Arabia. If you can't get facts straight, expect to be shown up for the mendacious twit that you are.

Stop trying to tell lies and put words in my mouth. You are just a belly crawling mud muncher without principles.
Whenever there are articles on Shell or NNPC, you turn up to twist stories and create anti-people angles like a witch from Okija forest.

debosky:

The predecessor of the NNPC was the NNOC - it was also corrupt and useless. You are completely lacking in any cognitive ability if you feel 'sweeping away' the NNPC is the issue. The issue is corruption - as long as GEJ is actively encouraging corruption and lacks the will to fight it, whatever replaces the NNPC is bound to be corrupt.

It doesn't matter if the predecessor of NNPC was abracadabra, you and the phucking corrupt NNPC are gonna be swpt away. Howl as much as you look like, it is a waste of time. But moving your mind to understanding that fact is like moving tectonic plates; you are that stup!d and corrupt.
Lol! Its funny how weasels and vampires turn up like Beelzebub to try to switch off the truth and sell lies spiced with fake curry. Dude, you are caged like a feral baboon.

Thor:

In Nigeria you should think yourself lucky, the price of fuel in most other countries on the planet is already double that of Nigeria even with the increase!!!

Those of you wealthy enough to afford a car need to pay their way!

If petrol is not subsidized, what do you think they should subsidize in its place?

There is something called Purchasing Power Parity.if you know that, you wont start this thread.Even without subsidy our petrol should be cheaper.Nigeria is the only country in Opec oil producing countries to import petrol.That is why its is still expensive.If we refine oil at home we are talking about 40naira per litre or slightly higher. But the gangsta cartels wont like that.

shine12:

There is something called Purchasing Power Parity.if you know that, you wont start this thread.Even without subsidy our petrol should be cheaper.Nigeria is the only country in Opec oil producing countries to import petrol.That is why its is still expensive.If we refine oil at home we are talking about 40naira per litre or slightly higher. But the gangsta cartels wont like that.

What if other things are subsidised instead of petrol? Things that will actually generate volumes of money like education, research, agriculture, manufacturing etc?
The removal of the subsidy is painful and tough, but the arguments for it are baseless and a path to disaster. You know it and I know it.