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Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 11:01am On Jan 10, 2012 |
Olamusli: Sorry your just rattling your personal opinion and not what the instigators of the strike action feels . . .take a closer look at most placards and speeches rendered, and one thing is glaring . . .No to subsidy removal and the call that GEJ must revert to N65 naira or else the strike protest continues . If it was about corruption . .then why have the Legislooters, the governors, the local government chairman, the oil marketers not being placed under the spot light recently the house of reps received applause for calling for the reversal . .people were even spouting that the NASS supports the people , when the NASS is even the hotbed of corruption. Why did the NASS shy away from passing a resolution to mandate the EFCC to go after the oil marketers . . As far as your protests is glaringly selective and centered around the subsidy removal . . I still maintain that i don't give a damn!! . . Vague actions don't fool me unless you drag all political office holders into your mass protests and call for the heads of your NASS members,governors, L.G.A chairmen and councilors . .then i would gladly and gleefully yell Aluta on the streets Until then . . . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by efisher(m): 3:18pm On Jan 10, 2012 |
100% correct jmaine. That's the reality. The man on the street has one thing in mind: N65 per litre. They don't care about the other details. |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by seunlayi(m): 4:53pm On Jan 10, 2012 |
people the to be more educated about this 1 Like |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by PointB: 4:57pm On Jan 10, 2012 |
@Jmaine, thanks for speaking my mind. Well articulated! |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 4:57pm On Jan 10, 2012 |
Anybody who speaks up against this policy of subsidy removal will immediately be called an agent of "oil cabals", "agent of Boko Haram", "agent of IBB, Atiku, Ciroma" etc, by Jonathan apologists on this blog. You people should answer these questions and I will be one of your members: Why was Obasanjo able to pay off our national debt worth billions of dollars while retaining fuel subsidy? Why was Obasanjo able to build up our foreign reserves into billions of dollars while subsidy was still on? Why did Obasanjo still launch some projects, like satellite, while subsidy was on? Why was subsidy money in the billions while others were in government but went into trillions just few months into Jonathan`s government? Why were the implicated subsidy beneficiaries(oil cabals) not punished by Jonathan? Let me stop here. Answer these questions satisfactorily and I will join you in canvassing support fr subsidy removal. |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Rad1cal: 9:39pm On Jan 10, 2012 |
Hmm ! |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 11:40pm On Jan 10, 2012 |
^ My day was good . .Oya back to action . . . Now with that said, I have nothing against Iweala I mean she was my hero alongside Dora until they both messed up big time. As far as me dey concerned, those two ladies no fail me in anyway . . and who told you the average Nigerian lives on 300 naira a day. how much is the average meal in Nigeria using Lagos as a model = N150:00 x 3 = N450 . .transport nko = 100 and after beer period of at least 1 bottle = 200 = roughly N 800 . . .we all know we eat more than N450 food and pay more than N100 Tfare money , we also take at least 2 bottles for starters , and some other frivolities . . so that 2 dollars logic is an outdated ploy to make us look pitiful . . . If that is so, then I am sure you would agree with me that people have the right to be angry, protesting and asking questions that the FG has not answered which are. Sure people have the right to protest and question their government, but to say the government have not answered questions is unfair, maybe not all questions you meant It's no longer news that our refineries are moribund and they have been so since ages courtesy due to the endemic systemic corruption from even the grassroots like you and i . .so the "if we drill our oil and refine our oil in Nigeria" part is anti- reality as we speak . During the last government of OBJ, Iweala made us pay 16 billion dollars claiming that we would use it for road etc like she is doing now. Why ? was she not in OBJ era ? has she not paid the money off now so what other thing does she need to deliever her promise in 2005. Okonjo Iweala aided the payment as the finance minister who called the shotz in all monetary affairs in the country . .she made that promise on the premiss of being in charge of the budgetary planning and implementation . . But what happened . .the treacherous and canny OBJ decided to play fast on her by diluting her stern grip on the monetary port folios of the nation . . And as an honourable Nigerian who did not want a tarnished image . . she rescinded . .and that was around June, 2006 . .Just a year after payment of the debts . .are we to blame her for Obasanjo tactical move to take her out of the mainstream . .or for her integrity to rescind when it was obvious she was being restricted tactically And do not forget, she initiated the process of publishing monthly revenue allocation to states and L.G for transparency purpose, which had the rouge governors like Ibori complaining about a deliberate attempt by the ministry to pitch them against the people . . Ole !! The woman has ideas my brother and if given the opportunities would deliver Yaradua died in 2010 and the subsidy was about 600 billion, Now FG is telling us that immediately Jonthan got in, it jumped up to 1.3-1.6 trillion (since the figures are not consistent). They told us during the channels debate that they have been paying it as if this admin started since 2005 or so. The previous referenced article below has some answers . . The Federal Government is subsidising a litre of premium motor spirit (petrol) with N91, indicating a rise of N24.68 or 27.1 per cent over the N66.32 spent last February.http://www.nigeriannewsservice.com/nns-news-archive/headlines/fuel-subsidy-rises-to-n91-per-litre It's simple logic . . An increase in global crude oil would affect the subsidy paid due to the following . . .The variable which is the imported crude at the prevailing international prize must be standardized to N65 for the masses to pay . .so whatever marhin differences is shouldered squarely by the FG . . The FG would must likely pay more for as subsidy if global crude oil prize is say $100 in contrast to a prize of $ 80 as the article above suggest. The increase in the price cannot and I repeat cannot be = inflation and increase in population. No way there have to be some explaination. I mean we are talking about an increase by 700 billion to 1 trillion within 2 months of yaradua's and jonthan admin. Something is not right. 2 months Alj Harem . . .Yar Adua died may 2010 ( so we were told ) . .and we are talking about december 2011 . . .over a year bro . . and over those years , you would agree with me that in the government zeal to avoid fuel scarcity . .they encouraged more imports witch prolly fuelled the desires of corrupt collaborators to increase their smuggling activities and also to inflate imported figures to swindle the FG . .though a little vigilance on the part of the FG could have stemmed this tide . .nevertheless, when the next man is corrupt, policing an obvious loop hole in subsidy payment is an uphill task . . . Beaf and FG are arguing about forcing the private companies to build refineries. Yes good Idea because by deregualtion they would be urge to build their own refinery right. Now it also exposes them to some few things The right word is encouraging them to build refineries to create a robust and properly managed business clime Now if the government remove subsidy without refinaries, he can simply export it and tell the government the price which he used to pay the foreign refinarires and the GOVERNMENT (NNPC) HAS NO CHOICE BUT TO PAY HIM Why would the FG pay them when subsidy has been removed and the market deregulated . .don't really get that part . NNPC has no capacity to store Petrol for more then 2 weeks and that is why we use to have fuel scarcity until the PRIVATELY OWN RESERVOIR CAME INTO BEING. thus they cheat the FG by lying to them and store petrol at about 3 Naira for a liter. Again this would suffice : Why would the FG pay them when subsidy has been removed and the market deregulated . .they would simply sell whatever they have, the government has no interest in their personnel capacity . .they have no option than to sell to make profits . . via competition . .though the option of them forming a cartelto dictates prizing is present . . The PPRA should be strengten to curtail such antecedents . . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 12:18am On Jan 11, 2012 |
^^^^^^^ Jmiane you never answer my question o I said 1. now that the prices are deregulated and if the cost of production of petrol (PMS) is whatever and the oil company tells the FG 200 naira per liter. How much would NNPC sell it for ? 200 naira as well remember they have no storage capacity and 30% capacity in the refinery. 2. I believe or should I say I want to believe that having our own refinery would make us immune to external prices of crude oil. I mean if we drill our oil at X amount and refine it at Y amount. I would expect the cost of a liter of oil to be X + Y +Z where Z is the extra amount due to logistics in transportation etc. Thus lets say it cost 131 dollars a barrel today and 200 dollars a barrel tomorrow, It should not affect us since we are not buying the crude oil. Again another adage says "A man that grows yam and still buys pounded yam is a fool"(I hope I am right ) But I am sure you know what I mean; unless I am not really understanding it and I am willing to learn. 3. The Fg would still pay them since it has no capacity to store her own PMS. The Fg still need to store it in private own reservoirs and can be at the rate of 3 naira per liter stored Also they would also cheat the FG by claiming wrong figures as the example I made earlier. 4. Also you mean from 2010 to 2011 the price of subsidy jumped from 600 billion to 1.3-1.6 trillion. That is about 100-200 % increase. I am sure the FG can explain those figure better. Abi we dey bath with petrol for Nija (I read your link) I think we need to becareful because even with the percentage increase as your link suggested would not amount to 1.3 trillion naira because if there is an increase by 27 % which means the new subsidy should be 825 billion naira. And also increase in crude oil in the global market should not affect us if we have our refinery. |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 1:46am On Jan 11, 2012 |
^ Oga Harem . . . now that the prices are deregulated and if the cost of production of petrol (PMS) is whatever and the oil company tells the FG 200 naira per liter. How much would NNPC sell it for ? 200 naira as well remember they have no storage capacity and 30% capacity in the refinery The independent marketers can never inflate their prize of importation cos the FG (NNPC) for now is also in the business of importation . . The PPRA is saddled with the responsibility of checking such practices if adequately strengthened . . So the scenario you played is quite low if the probability is to considered . . .but it all depends on the efficiency of the PPRA and that we can't really determine if it's going to be + ve or - ve . Our continous activism to put them on their toes may be the antidote to potential corrupt practices I believe or should I say I want to believe that having our own refinery would make us immune to external prices of crude oil. I mean if we drill our oil at X amount and refine it at Y amount. I would expect the cost of a liter of oil to be X + Y +Z where Z is the extra amount due to logistics in transportation etc. Yes, having our own refineries would insulate us against unnecessary and unfriendly foriegn costs, but like i said earlier, that your phrase of " If we drill our oil and refine" is anti - reality cos as we speak the refineries are moribund, due to the endemic net export of corruption an average Nigerian like you and export into system . . Corruption runs in our veins, which is not far fetched as to why the refineries for decades have been neglected by subsequent government . and since building a new one has a whole lots of socio-political issues to address . .the cheaper and more fraudulent liable route of subsidy payment was adopted as usual The Fg would still pay them since it has no capacity to store her own PMS. The Fg still need to store it in private own reservoirs and can be at the rate of 3 naira per liter stored off course the FG has to pay the stipulated N3 storage cost if they patronize private tank farms . .and would factor that cost into their pump prize . .as for them cheating the FG as regards volume of stored remaining fuel; the onus is on the FG to curb such practice . .but that won't affects the pump prize in anyway . . In such scenario, the FG can't pay them any money but would rather loss value for storage services not rendered, since some of their stored products was siphoned . . But measures put into place can stop that practice, since the usual business of free subsidy over any claims has been removed . . .All man to himself now . . lso you mean from 2010 to 2011 the price of subsidy jumped from 600 billion to 1.3-1.6 trillion. That is about 100-200 % increase. I am sure the FG can explain those figure better. Abi we dey bath with petrol for Nija (I read your link) I think we need to becareful because even with the percentage increase as your link suggested would not amount to 1.3 trillion naira because if there is an increase by 27 % which means the new subsidy should be 825 billion naira. There was fallacy in your calculations, go check it out . .fuel subsidy payment has always been on the increase yearly, right from OBJ tenure - Yar Adua and not surprisingly to GEJ. Which is an indication of an increased consumption of gasoline, either via new business springing up or more people adopting the "power your home privately" route . In your calculations, all you did was fail to factor in any potential increase in gasoline consumption. But rather, you used the static figure of 650 Billion X % increase of 2009, to arrive at your current figure . . The chart below [/b]is an evidence of the prevailing crude oil prize from Dec - 2005 to Mar 2001 . .Notice the steady increase in prize, now when you factor in the increasing demand of fuel nationwide . . .The subsidy must increase . . . [b]Another glaring reason i earlier pointed (below) is the corrupt feast, due to the loop hole the government created, by making it her priority of ensuring fuel are available at all time and at the regulated given prize of N65 . . .which was easily observable, as the frequent fuel scarcity experienced by previous regimes was reduced drastically to negligible level . . This most likely contributed to the sharp rise in subsidy payment . .offcourse , when your house is riddled with holes, do not be surprised when you see rats playing the game of chase in your living room And subsidy payment coupled with the ultra endemic corruption in all spheres of the Nigerian business clime, were those holes that necessitated such increase in sharp practices in tandem with the government huge fuel demands . . jmaine: And also increase in crude oil in the global market should not affect us if we have our refinery. You are very correct sir, but sadly we don't have them currently, until the next 18 - 24 months ( if the time line of the FG shall be fulfilled ) . . and within this period, our debt burden might increase to alarming levels if we keep paying this people the fraudulent subsidies. Due to the alarming conduit pipes of corruption in the system . . .Right from the Port - through the customs -down to the NNPC . . If these people cover their tracks well . .investigating and getting substantial evidence would be tasky and might not yield the required dividends, unless you want to get smashed in the law court for failure of providing telling evidence to nail them beyond reasonable doubt. . . I liken the subsidy issue to a fire incident . . . Why not cut out the fuel source (subsidy) to the Fire( corruption) , than try in vain to smother a fire with huge amount of fuel ( Systemic corruption) all around you . .which is the preferred route Oga, Harem . . Hope say i don answer your questions, Chaii i don tire . . .Endurance don less . .
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Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 2:39am On Jan 11, 2012 |
^^^^^^^ Thanks for your reply. I very much appreciate your explanation I hope you would not mind if I can just take a bit more of your time Before I start I just want to reinstate my position that subsidy has to be removed but not now. 1. Surly you have to agree with me that before the purpose removal to even the governors 6 months ago; there must have been thoughts of it more so Iweala was there around 2005 and she must have know if the subsidy was sustainable or not right. If yes then during Jonathan which started from 2010, she could have told GEJ to start building a refinery around the period she got the job. Also I have to add that the issue here is trust Another adage "Once bitten twice shy" You to be honest with you, we (nigerians protesting) don't trust the government and I believe we are right to believe so. Subsidy removal was never a bad idea. the problem comes when the government would start telling us stories few months down the line and I no go lie the thing go pain me no be small. Right now, the FG spends 1 billion (993 million naira) on just food for GEJ and sambo. Such wasteful spending does not sound correct to our ears at all. I can go on and on and on on such ridiculous spending plan. But funny the FG want to use others to save up then they themselves cannot cut down on the spending. Also since 6 months ago according the Iweala there was a meeting about the removal of subsidy, why did the FG not start the building of refinery immediately (5 months) so when people like me ask what the money would be used for, the evidence would be there for us to see. All the initiative Iweala said could have started maybe in a small scale and then they would present it to the people that they want to go larger and such they need more money of which would come from the subsidy. Again, talking of reduction in transport, would that not be subsided ? If yes then by how much in the subsidy money ? Diesel subsidy has been removed we don't still have refinery so what makes me an average man think that GEJ would be different from OBJ, Yaradua ? Sorry Jmaine but I am just being critical here in my thinking. Each successive government had promised heaven and earth and still we are in the same situation. Let me just let you know that the protest is not even about subsidy again but about corruption and that is why we saw youths visit Otedola, Tinubu and co houses yesterday. No one wants to be fooled again by the government. recently Madueke bought a house in Austria worth 20 million euros or 25.5 Million Dollars. I am sure you know that such money is not from shell or what ever but from corruption and Now you want to tell me that such a woman would turn around and make things move It is sad. Lastly, Now Nigerian or should I say "I" really want to see the visible development before the removal. The FG can't just wake up one day and tell us that she would turn Nigeria into a better place by using the money from subsidy correctly. Moreover you spoke of corruption but the people the FG are going to give the money to are also corrupt so why not protest now so people can see what the average man is thinking ? Just the very last thing. Can you tell me why the FG has not explained to us the money from the removal of subsidy from Diesel and Kerosene. Because I remember when subsidy was removed from agriculture, the infrastructure (port harcourt i think) was already in place before the removal by OBJ and it was the exact same issue about benefit thieves, smugglers etc why can't the same be in GEJ Thanks for you time |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 1:21pm On Jan 11, 2012 |
^ Am not primed for long arguments . . am the mike tyson type with powerful stunning blows over a short period of time . . so this might just be my last answer . . . Before I start I just want to reinstate my position that subsidy has to be removed but not now Yes, not totally now . .but definitely now . . and to be candid , Nigerians in general don't have a particular "now" when subsidy should be removed . . . it's in our DNA to criticize . . 1. Surly you have to agree with me that before the purpose removal to even the governors 6 months ago; there must have been thoughts of it more so Iweala was there around 2005 and she must have know if the subsidy was sustainable or not right. The world economy of 2005 was more stable than 2011, like Sanusi pointed which most people chose to ignore . . Economies round the world are trimming down on their socialist expences in the name of austere measures . .recently the U.K prime minister also announced some . . .due to the fragile balance of the global economy . . . Economists work on prediction and forcast to plan for today . .and the difference is that the economic forecast for 2005 was not as dicey as the economic forecast for 2011 and beyond . . .and what was obtainable in 2005 may not be obtainable in 2011 . . . 6 whopping years, in which there was a global melt down in between One word Difference . . .in time and even in space . . As for the trust issues . . .I understand the fears of Nigerians cos i feel the same way too . . . but we must have a little faith in the system or else . .our negativity would just bring stagnation rather than the risks for growth Right now, the FG spends 1 billion (993 million naira) on just food for GEJ and sambo. Such wasteful spending does not sound correct to our ears at all. I can go on and on and on on such ridiculous spending plan. But funny the FG want to use others to save up then they themselves cannot cut down on the spending. This was rebutted by Reuben Abiatti (Below) but it's subject to more clarification . . . Na government rebuttal sha He denied jetting out to South Africa or spending N1billion to feed in Aso Rock. http://www.thenationonlineng.net/2011/index.php/news/32599-jonathan-accuses-house-of-inciting-nigerians.html Also since 6 months ago according the Iweala there was a meeting about the removal of subsidy, why did the FG not start the building of refinery immediately (5 months) so when people like me ask what the money would be used for, the evidence would be there for us to see. With all sincerity, there has been ground work to build the refineries since mid 2010 . .at least that of the Lagos i was aware of . . . As an EIA expert, i wanted to get involved and as a business man . .i wanted to buy off some lands around the locality for future sale purposes . .Lands around the refinery location would be gold . .so we predicted . . . And to do an EIA of that magnitude can span more than a year if a thorough job is to be done over seasonal variations . . . before we now consider your normal bureaucratic bottle neck of analyzing the report from the experts, giving the go ahead, releasing funds, importing the machinery, and moving it to the site to commence work . . .You don't expect all this to be on the pages on the newspaper . . If you want evidence . .go to the office of the D.P.R and you would see it . . . All the initiative Iweala said could have started maybe in a small scale and then they would present it to the people that they want to go larger and such they need more money of which would come from the subsidy. I support the bolded . . . but you cant place a figure on how much transport would be subsidized . . .but it can never shoot up to the trillions cos it's fuel utilized that would be accounted for devoid of smuggling and inflated and doctored importation papers Diesel subsidy has been removed we don't still have refinery so what makes me an average man think that GEJ would be different from OBJ, Yaradua ? Sorry Jmaine but I am just being critical here in my thinking. Each successive government had promised heaven and earth and still we are in the same situation. Diesel is just one of those numerous products gotten from the fractional distillation of crude oil and has such has other siblings . . .As far as the gasoline was heavily regulated and subsidized . .then it would make no economic sense to install a refinery while not utilizing the wholesome products to maximize profits . .they would simply be at a loss . .and no business is created to court losses . . . Let me just let you know that the protest is not even about subsidy again but about corruption and that is why we saw youths visit Otedola, Tinubu and co houses yesterday. No one wants to be fooled again by the government. Majority of the protests is against subsidy removal . .those who went to those guyz houses were composed of 0.000001% of the grumbling voices of the masses . .why are your legislooters being hailed as heroes for playing to the gallery, asking for prize reversal . .why have their heads not being placed on the plate like the FG . . recently Madueke bought a house in Austria worth 20 million euros or 25.5 Million Dollars. I am sure you know that such money is not from shell or what ever but from corruption and Now you want to tell me that such a woman would turn around and make things move Undecided It is sad. This was too cheap of you . . .No iota of facts in them . .too hell with those Sahara junks and their useless and shameful propaganda . . this part did not do justice to your person . . Lastly, Now Nigerian or should I say "I" really want to see the visible development before the removal. The FG can't just wake up one day and tell us that she would turn Nigeria into a better place by using the money from subsidy correctly. All you did here was to repeat yourself . . .I did acknowledge the trust issues as rightly pointed by you and everyone else . . . Just the very last thing. Can you tell me why the FG has not explained to us the money from the removal of subsidy from Diesel and Kerosene. First the removal of subsidy spanned OBJ period, so if you are to use OBJ as a comparison to GEJ, then there is a fallacy in that cos OBJ should also answer what happened to the subsidy money . . . Yes, the subsidy money was wasted due to systemic corruption cos if there was none . .the power projects of the OBJ regime should have been lighting our homes on a consistent basis . . Now my question . . .why did the labour Union and Nigerians generally not fight . . .guess, we thought it never affected us directly . .but chose to act now, since it is now on our door step . .sorry . .it's hypocrisy on our part . . Thanks for you time Your welcome but no give me too much work again . . I don tire . . . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Nobody: 1:40pm On Jan 11, 2012 |
https://www.nairaland.com/nigeria/topic-482263.0.html Marketers Kick over Fuel Import Contracts there you have it. between gej and diezani, they turned fuel importation into a political slush fund. now, just as with nortern leader twats and boko haram, it is out of their control, and the only way they can kill their frankenstein monster is by sticking it to nigerians |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Bliss4Lyfe(f): 3:18pm On Jan 11, 2012 |
Fuel Subsidy: Scarcity Hits Neighbouring Countries « on: Today at 10:07:35 AM » Fuel subsidy: Scarcity hits neighbouring countries Wednesday, 11 January 2012 00:00 BILL OKONEDO & DANIEL OBI The Republic of Benin, which shares land borders with Nigeria is witnessing a biting scarcity of petrol, days after Nigeria stopped subsidising the product. This gives credence to widespread claims that some unscrupulous Nigerian businessmen had for years been smuggling petrol meant for local consumption across the country’s borders for extra profit, even after claiming subsidy on the product from the Federal Government. What this indicates is that the Nigerian government has inadvertently been subsidising fuel to neighbouring countries and enriching some unscrupulous local businessmen. But in the last eight days, those illicit activities have been brought under control. Said a Nigerian who does business in Benin Republic: “Now, with the upward price adjustment in Lagos, it is no longer profitable to smuggle fuel from Lagos to Benin Republic and Benin Republic will now have to spend its own foreign exchange to import what citizens consume.” Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria had said in a television programme yesterday :The cost of petrol in Nigeria was N65 per litre and in neighbouring countries it was N190 per litre. “In such a situation, everybody who knows he can take advantage will take advantage. In some countries, smuggling across borders attracted the death penalty and then it was changed to 20 years. But here, you cannot do what a monarchy or totalitarian government will do. But you can deal with it through the cost. When the cost differential becomes insignificant, it becomes unprofitable to smuggle and that blocks the leakage”. Speaking on the same programme, Ngozi Okonjo-Iweala, finance minister said:” The element of smuggling was because the cost here was lower than neighbouring countries. At night tankers are driving across our borders and taking our products away from our people”. A Nigerian businessman said the neighbouring countries have been consuming Nigeria’s petrol and “we have been squandering our foreign exchange bringing in petrol, spending N1.3 trillion, only for the petrol to be smuggled across the border”, he regretted. “There is this thing about the subsidy. Apart from it being consumed by the rich and Nigerians, all our neighbouring countries also consume our petrol. In some states near borders, petrol stations are built in the bush, some within miles of the border. They never sell fuel there. They just take their allocation of petrol and take it across the border and sell it at world market price”. Other analysts believe that the introduction of fuel subsidy by the federal government will moderate fuel consumption and specify the actual quantity of the product consumed by Nigerians yearly. The Lagos State Commissioner for Economic Planning and Budget, Ben Akabueze, while addressing newsmen on the state’s N491.941 billion budget analysis, said consumption of fuel will now be reduced, compared to what was consumed in previous years. “What we will see is that consumption will reduce because many will be forced to park their cars and take public buses. All of the petrol that was brought into this country for local consumption and had subsidy claimed on them, which later found their way out of the country, will no longer happen. “The consumption will decrease and correspond to the amount of subsidy. What is true, however, is that because there is no more subsidy, the amount often deducted for subsidy from the federation account will now be available for the three tiers of governments. So we expect the impact of the subsidy to be positive, if properly applied.” It is also expected that the policy will benefit the economy and the citizens, in the medium to long term as the private sector would likely invest in the downstream oil sector with a corresponding impact on the creation of jobs. Other benefits that would be derivable from the policy, according to analysts include reduction in the pressures on foreign reserves as huge chunk of foreign reserves was used to fund fuel importation. http://businessdayonline.com/NG/index.php/news/76-hot-topic/31763-fuel-subsidy-scarcity-hits-neighbouring-countries |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 5:46pm On Jan 11, 2012 |
jmaine: thanks Oga Jmaine but there are some things you stated that my mind can't just agree to. One last thing oga jmaine and I would make it very short. 1. If the prices of fuel in Chad goes up to 200 naira, would the smugglers not still be benefiting ? You see it is like having headache and saying the solution is to cut the head off. Other things the government is subsiding in the future can as well be smuggled out of the border 2. If the price of oil in america dollars then all of a sudden raises to 500 naira per liter, would we be buying the fuel at such prices even though we produce it ? Don't you think our economy has now been exposed ? Thanks |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by efisher(m): 7:01pm On Jan 11, 2012 |
@alj harem, let me use a set of questions to "answer" one of your above questions. Cars are smuggled daily from Cotonou to Nigeria. Does that have a negative effect on Benin Republic? Has the smuggling resulted a shortage of cars in Benin? The key condition is this: When there is no subsidy (money paid out by govt), on a commodity, then its smuggling results in no loss for the nation as long as supply is guaranteed. (In fact it's a net gain for the source country). |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 7:34pm On Jan 11, 2012 |
alj harem: I understand . . . alj harem: It better be 00h! cos me don tire . . . alj harem: I would answer your question in two stead: - Scenario 1:- whether they smuggle it into neighboring countries . .the FG wont be paying heavily for that illegal activity . . Scenario 2: with the amount of bribe they need to pay all the way to those countries . . .The Low profit margin might just discourage the smugglers from taking that route often . .which ever way, we spend no cash while those who sell within would continue to make more money . . . due to population indices . . . The fuel subsidy scam is like a festering cancer tissue due to the high systemic corruption . .and what do you do to such tissue . .you cut it off completely . . . alj harem: If the government subsidizes production within, it would create jobs and increase the socio-economic well being of an average Nigerian . . . we would rather start importing to other places than smuggling . .unless what you export is against the law . . . alj harem: Yes, your fears are genuine but that is a worse case scenario you played . . .mind if i also play another scene by telling you that before then, we might have had our TAM completed on our refineries and also others refineries might also spring up . . . Everyone has a doom day scenario . . . but let's leave it at that . . . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by karlmax2: 7:44pm On Jan 11, 2012 |
. If the prices of fuel in Chad goes up to 200 naira, would the smugglers not still be benefiting ? You see it is like having headache and saying the solution is to cut the head off. Ans. I don't care as long as my LGA is getting its share of the N1.3tr government spends to subsidize it for them initially!!! Instead of me protesting to give NNPC the N1.3tr to continue subsidizing it for them |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Nobody: 7:54pm On Jan 11, 2012 |
The fuel subsidy is good but the government placed the cart before the horse! The people should have been better informed and palliatives put in place before removal. I believe the strike should be channelled to demand for accountability, reduction in bogus governance, expenditures, salaries & allowances in the arms of govt especially those ROGUES in NASS, fight corruption & prosecute the CABALS, improve srecurity, infrastructures e.t.c But my concern is can he succeed when the cabal is in control? |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 8:01pm On Jan 11, 2012 |
efisher: I like the way you put the highlighted point. The answer is NO since cars are manufactured goods and are not produced in benin republic thus it has not effect on their economy UNLIKE Crude oil that is produced in Nigeria and has every effect on our economy. My brother that is not the key. The key from the government point of view is that people are smuggling PMS to other countries of which the FG has paid subsidy for. If so, if the prices of petrol in benin goes up to 200 naira, there would still be smuggling and thus the issue has not been fixed Yes it would affect Nigeria's economy because if NNPC can account for the amount of crude oil exported to be refined (imagine nigeria exporting oil to be refined, I weep for this country) and cannot account for the resulting liters of petrol, it means we are at the losing end here. take a look at this example If Nigeria export 1 billion barrel of crude oil and it is expected to bring back 500 million of PMS but brings back 300 million barrels of PMS since it has smuggled 200 million of chad. Who loses. Nigeria's economy or the other ? think of the money expected and think of the money recovered. Yes that is right, we would be at the losing end |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 8:02pm On Jan 11, 2012 |
jmaine:I no go disturb you again make I allow you rest Oga Jmaine thanks a lot, I enjoyed the discussion and appreciate it. Thanks |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 8:03pm On Jan 11, 2012 |
karl max: Nah you were never giving NNPC 1.3 trillion. but Ok time would tell |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 8:16pm On Jan 11, 2012 |
alj harem: Thank You too oo! Oga Harem . . .make i go take my stand by glucose . . . Energy don waka finish |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 8:31pm On Jan 11, 2012 |
jmaine: that got me seriously cracking you be old man |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Nobody: 9:28pm On Jan 11, 2012 |
This Bliss4lyfe must be praying for this thread to dive into oblivion. He must be saying 'Oh what a fool i've become, my blind loyalty made me write this shet. I'm sory i'm a fool' |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Rad1cal: 10:15pm On Jan 11, 2012 |
diluminati: You always sound pretty silly . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by jmaine: 10:54pm On Jan 11, 2012 |
alj harem: I be young old man . . . |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Nobody: 10:57pm On Jan 11, 2012 |
Rad1cal: someone is hungry for p u s s y Ediot |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by aljharem(m): 11:06pm On Jan 11, 2012 |
diluminati: + 10 |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Bliss4Lyfe(f): 6:54am On Jan 12, 2012 |
diluminati: alj harem: What nonsense is this animal typing. U must be mad/delusional. Why do all the crazy phucks on nairaland male and female always chase me around like dogs on heat. What da Phuck? |
Re: What Is The Point Of NLC/TUC Protest? Just Fun Day Off Work? by Rad1cal: 12:43am On Jan 17, 2012 |
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