LeoMax:

[size=15pt][b]PROTEST AGAINST THESE CABALS[/size]
Oando Nigeria Plc, N228.506billion;
Integrated Oil and Gas Plc, N30billion;
MRS, 224.818 billion;
A.A. Rano, N1.14 billion;
A-Z Petroleum, N18.61 billion;
A.S.B, N3.16 billion;
Arcon Plc, N24.116 billion;
African Petroleum, N104.58 billion;
Aminu Resources, N2.3 billion;
Capital Oil, N22.4 billion;
Con Oil, N37.96 billion;
Avante Guard, N1.14 billion;
Avido, N3.64 billion;
Boffas and Company, N3.67 billion;
Brilla Energy, N960.3 million.
D. Jones Petroleum, N14.86 billion;
DownStream Energy, N789.648 million;
Dosil Oil and Gas, N3.375 billion;
Inco ray, N1.988 billion;
Eternal, N5.574 billion;
Folawiyo Energy, N113.32 billion;
Frado International, N2.63 billion;
First Deepwater Oil, N257.396 million;
Heden Petrol, N693 million;
Honeywell Petrol, N12.2 billion;
AMP, N11.417 billion;
Ascon, N5.271 billion;
Channel Oil, N1.308 billion;
Fort Oil, N8.582 billion;
Enak Oil & Gas, N19.684 billion;
Bovas & Co. Nig Ltd, N5.685billion;
Obat Oil N85billion.
IPMAN Investment Limited, N10.9billion;
Atio Oil, N64.4billion;
Emac Oil, N19.2billion.[/b]

we did not elect the cabal to rule us. our govt have responsibility to take care of the cabal for us. these so called cabals wine and dine with our elected govt. they are members of economic team. they all get national awards from our elected govt.

our govt campaigned and got elected based on campaign, so there is a contract between us and our govt.

Never and if he reverts to the N65/litre, then Goodluck will be a BIG DISAPPOINTMENT. SUBSIDY WITH THE ASSOCIATED CORRUPTION MUST GO.

LeoMax:

[size=15pt][b]PROTEST AGAINST THESE CABALS[/size]
Oando Nigeria Plc, N228.506billion;
Integrated Oil and Gas Plc, N30billion;
MRS, 224.818 billion;
A.A. Rano, N1.14 billion;
A-Z Petroleum, N18.61 billion;
A.S.B, N3.16 billion;
Arcon Plc, N24.116 billion;
African Petroleum, N104.58 billion;
Aminu Resources, N2.3 billion;
Capital Oil, N22.4 billion;
Con Oil, N37.96 billion;
Avante Guard, N1.14 billion;
Avido, N3.64 billion;
Boffas and Company, N3.67 billion;
Brilla Energy, N960.3 million.
D. Jones Petroleum, N14.86 billion;
DownStream Energy, N789.648 million;
Dosil Oil and Gas, N3.375 billion;
Inco ray, N1.988 billion;
Eternal, N5.574 billion;
Folawiyo Energy, N113.32 billion;
Frado International, N2.63 billion;
First Deepwater Oil, N257.396 million;
Heden Petrol, N693 million;
Honeywell Petrol, N12.2 billion;
AMP, N11.417 billion;
Ascon, N5.271 billion;
Channel Oil, N1.308 billion;
Fort Oil, N8.582 billion;
Enak Oil & Gas, N19.684 billion;
Bovas & Co. Nig Ltd, N5.685billion;
Obat Oil N85billion.
IPMAN Investment Limited, N10.9billion;
Atio Oil, N64.4billion;
Emac Oil, N19.2billion.[/b]

If I may ask an innocent question, whats the crime of the companies listed above? Are they not legitimate companies doing legitimate business (fuel importation) according to government regulations? If they are involved in sharp practices, surely there is a regulator to keep them in check? Even with the removal of fuel subsidy, the only change is that government stops paying these folks and transfer the bill to Nigerians. So they will still be there until the only thing that can put them out of business is there: Refineries!

Where is Nigeria's money really going?

to @LeoMax,


That list includes several LEGITIMATE business. The subsidy is supposed to work as follows.

The importer buys and pays landed cost of say N135 per litre. But since petrol must be sold at N65 per litre, the NNPC on behalf of the FGN REFUNDS N70 per lire (the subsidy).

The problem is that the processes and procedures have been corrupted by executives in the oil industry and Nigerian Customs who using DOCUMENTS have perfected the FRAUD.

Please read Sanusi Lamido's detailed and factual analysis of how these executives steal our money. I can send you a link.

And finally anytime you read that refine petrol should not cost more than N40 per litre please remember that bottled water sells for at least N80 per litre and a bottle of beer goes for N150 a litre.

Of course we should respect each others opinions.

the problem with we nigerians is that we are yet to believe that no going on subsidy removal. subsidy has come to stay in nigeria. it is high time we come to the reality of things. dont be deceived any nlc and tuc leaders.

I do not expect GEJ to reverse himself on the [size=13pt]deregulation of the petrol (PMS) market[/size] that is being misconstrued as removal of subsidy. 
A subsidy that the labour and civil society activists have variously described as phantom, non-existent etc.
GEJ needs to stay strong, bold and courageous till the end on this needful and mecessary economic policy of [size=13pt]deregulation[/size] that plugs a N1.3trillion corruption hole in the federal budget that could otherwise be used for more beneficial things for the masses if we are VIGILANT.
GEJ needs to retool his information team and strategy to dissipate the falsehood that is being peddled over this deregulation that will ULTIMATELY lead to better life after the initial birthing pains.

Yes,he should&must revert to status quo.Great leaders are known for thier flexibility.Reversing the policy ain't no sign that Gej is weak,He is an ijaw man for the records and they are known  for bravery,atimes,u ve got to stoop low to win.While not condemning the policy,l think that the timing and modulus operadi is bad.GEJ shd tackle corruption,make d refinery work,provide good roads and other infrastructures b4 removing the damn subsidy.

Jona and his cohorts are not sincere with Nigerians, and I can tell you, non of them can come out and give us details of how monies have been spent over the past years, and how they have fought corruption to ensure that public funds get to the right projects.

They are all lies, and never to be trusted. Sometimes, I feel I should trust this govt, but when I check the indices and postulations behind the removal of fuel subsidy, it comes very clear that the process is insincere, callous and fraudulent.

1. I can name several projects that monies have been allocated for and even released and those project s are not anywhere near 25% completion. These includes our power sector, where past governments have sunk billions of dollars, and at the end of the day. we still don't have steady electricity. Probes were called for and nothing came out of it.

2. Health sector is neglected, and monies are allocated and released for the health sector, rather the funds end up in foreign accounts of politicians.

3. there has been massive corruption in this country, how many govt officials have been sentenced. NON.

4. Benin -Ore road projects had been awarded several times, with billions of money released for the rehabilitation of the road, yet for more than 20 years now, that road has never been attended to. The public officials who managed the funds/project were not held accountable.

5. Okonjo and uncle Jona are not sincere with Nigerians. If you look at the sharing formula of the acclaimed money to be generated from fuel subsidy, it has already been shared, the money they have not realised have already been shared. Why is this, do you share what you don't have?

It then means that fuel subsidy funds was provided for in this last 2012 budget, and that is why they have shared it with specific figures to feds, states and local govt councils. For crying out loud, you cannot share money you have not shared??

Lets work some maths here, if subsidy policy comes to stay, it then means that people have to cut down on expenses in fuel. Most people will cut down from 100% a month to about 65% consumption monthly, so if for instance I buy 100 litres of fuel monthly both for my car and generator, I have to cut it down to 65 litres monthly, and the same goes to majority of people around the country, so then government income will definitely drop from what it used to be and it then means that their calculated income of 1.3 trillion from subsidy removal is faulty because at the end of the year, they might not really realise the proposed 1.3 trillion. So how did they share the money to arrive at those figure they are brandishing on TVs that will be shared amongst the feds, states and local govt councils. It is logically clear that our govt is not sincere with the people. The right thing to do is to realise the money first before sharing, but from what I see here, it is like they have already borrowed and shared it. Now even with removal of fuel subsidy, Nigerians will still be paying debts related to this fuel subsidy issue.

6. The subsidy shut up from 250 billion within 1 year to 1.3 trillion, and our president cannot even call for investigation and make sure heads roll. It is like running a company in which you a monthly salary of 10 million Naira to your staffs, and suddenly your accountant brings a salary schedule of 25 million naira for you to sign, won't you call for probe?

we all agree that consumption have increased over the years, but by what percentage, Nigerians should be able to know by what percentage our PMS consumption have increased, because it is logical but that cannot account for 1.3 trillion subsidy in any way.

My deal NL, Nigeria is in deep shit, and this should be taking very seriously, this is no child's play. The Northern part of this country is burning, people are killed on a daily basis by islamic extremist called Boko Haram, and our president feels it is not necessary to tackle that

Refineries are not working which is one of the reasons why the youths don't have jobs, and our president is not bothered about making the refineries work??

Industries are barely struggling to survive due to astronomical cost of doing business in Nigeria.

Corruption is a multi headed monster in our country and especially in the oil industry, and the president feels this monster is bigger than him and Nigerians behind him

Funds/projects have never been properly managed and accounted for in this country, not ever for once, and now the presidents wants Nigerians to believe that the money realised from removal of fuel subsidy can be properly managed and accounted for.?

Why can't our president seek to know why the subsidy rose from 250 billion to 1.3 trillion why is he afraid, what is he afraid of? or is he part of the cabal too/??

In my opinion as a Nigerian who voted for GEJ, I stood in the rain and sun to defend my vote for GEJ, if in the next 48 hours Goodluck Ebele Jonathan refuses to address the nation and revert back to 65 per ltr of fuel, then I think he is not in anyway fit to lead, he does not have the will and sound mind to lead this nation out of corruption which is the major problem setting this country backwards.

i think in all honesty the fisherman is acting a script! agreed the removal of subsidy will do a lot to the economy of nigeria. the quetion is how do you go about removing it since nigeria has lost trust in its govt and without putting more hardship on the people? the answer: a sincere govt would have drawn a 3 yr road map on subsidy removal. the 1st yr 30% of subsidy should be removed. by the second yr govt will come back to the people and say this is what we did to the 30% we removed from subsidy and if the people see that truly so so and so was done with subsidy money another 30% is removed! i just don't understand the rush in removing everything at a blow! f.ack the drunken fisherman

@babestella

Please help me define the word. Inflation !

Yes,he should&must revert to status quo.Great leaders are known for thier flexibility.Reversing the policy ain't no sign that Gej is weak,He is an ijaw man for the records and they are known  for bravery,atimes,u ve got to stoop low to win.While not condemning the policy,l think that the timing and modulus operadi is bad.GEJ shd tackle corruption,make d refinery work,provide good roads and other infrastructures b4 removing the damn subsidy.

GEJ! Meet me for advice on hw to get NLC to call off the industrial action! Something sensible; take us thirty years back for at least two weeks; shutdown MTN, GLO, AIRTEL, ETISALAT, and all telecoms for two weeks! Take away internet services, shutdown power! Let all be on strike then u will c magic! Meet me for more! If u so wish![b][/b][color=#990000][/color]

Gej shld do d right things at right time. An average nigerian knws d advantage of dis subsidy removal but gej believe he could just stand up ova9t & impose a policy on nigerian without proper cönsultation, dialogue, palliative measure. No orientation. No advertisiment. D way he goes abt it was wrong and need to correcte his mistake by make some adjustment. 1.cuttin d salary of politicians to 25% 2. Cuttin d 2012 bulget to d bearest minimum. 3. A gud leaders must lead by example. Cuting d 1billion u budgeted 4 ur food per annum 2 reasonable amount. 4. Dis subsidy shld remove twice. Let pay #100 4 nw an later pay d rest. 5.D minimum wage shld be increase to N50,000.00 no state govt wil say dey can pay dt amount nw after buyin at #100 d state alocatn wil increase as well.

Listen up guys, our govt have agreed that there lots of fraud and corruption in the downstream sector which includes the process of importation of fuels and in its paper work. Now since the govt does not have the guts and muscle to fight and stop of even reduce this corruption to its barest minimum, what they are doing now is to transfer the liability to the Nigerians, so that we continue to pay for the fraud and corruption they are not able to check thereby allowing our govt officials time and chance to share more of our national treasury.

If our president cannot fight the cabals, build new refineries to sustain domestic consumption, so be it, then he has to put up with the problem of paying bills to the importers of fuel.

When you say you are subsidising fuel, it should be a short term measure, so that refineries can be put in place, and when that is done, subsidy can then be removed. we cannot continue to import and say we want to remove subsidy. Subsidy can only be removed when we have refineries working to sustain local consumption.

Nigerians cannot be handed over to these cabals to milk us dry because no amount of regulation can help here, it has never helped. The best way out of this is for our govt to check corruption and check the process and procedure of subsidy payout to the fuel importers until we revive our refineries which will even provide more jobs. PERIOD.

@leomax, Inflation? I am sure you know the definition.

The House of Representatives yesterday said it is not worried by the refusal of President Goodluck Jonathan to respect its resolution asking him to suspend the removal of oil subsidy.


Deputy Chairman House committee on Media and Public Affairs Rep Victor Ogene, who made this known to Daily Trust, said the lawmakers will invoke their powers under the constitution to restore subsidy.



Following the removal of subsidy, the pump price of petroleum jumped from N65 to N144.

Ogene said the House had to approve its votes and proceedings of Sunday’s emergency session to enable the National Assembly bureaucracy transmit the resolution to the executive in order to avoid excuses from that quota.

“If dialogue fails we will invoke our lawmaking and appropriation powers, in accordance with provisions of the 1999 constitution as amended, and put in money in the 2012 budget in tune with the wishes of most Nigerians.”

Ogene also said the statement credited to Jonathan’s spokesman Dr Reuben Abati, accusing the House of inciting Nigerians against the government by their resolution, will be probed by the newly constituted ad-hoc committees on subsidy dialogue and monitoring regime.

“That statement was childish even though we don’t want to waste our time responding to everything; but I am sure the ad-hoc committees will have to look into it,” he said.

For his part, Rep Aliyu Ibrahim Gebi (CPC, Bauchi) said: “If the President is saying that he does not need the consent of the National Assembly, which represent the Nigerian people, that means he also does not need the consent of Nigerians that elected us. So there is even no need to ever hold election in Nigeria again. Let the few of them just sit down with Jega and stamp and said this is our president. But as long as they are representing people and we are elected to be the people’s voices, it is full-hardy to say that you do not need the consent of the National Assembly.”

Abati had, while reacting to the resolution of the green chamber, described it as an attempt by the House of Reps to incite the Nigerian people against the government.

The lower legislative chamber had during an emergency session last Sunday asked President Jonathan to reverse government’s scrapping of petrol subsidies, which more than doubled fuel prices and sparked protests in many cities over the past one week.

The House also urged the labour unions to call off the strike and mass protests after adopting a motion sponsored by Rep Yusuf Tajuddeen (PDP, Kogi).

DAILYTRUST

He is bound to.

Leomax, you are funny, if oga GEJ shut down telecoms etc, how will he then meet you. >?? cos he has to communicate with you na.

Lets be serious here, the solution is this:

1. tackle corruption.
2. Build at least 1 new refineries and revive the existing 4 to service local consumption.
3. Roads
4. rail transportation and mass transit buses.

Then remove subsidy and see if Nigerians will complain.

These are projects he can do in phases.

It will not be out of place, because oil prices are generally controlled by global forces and events. However, you will agree with me that if we have our local refineries servicing our local needs with at least 70% of manpower from Nigeria, international oil price will not have any effect here, rather if the price of crude rises as a result of international events, Nigeria will be making more money.

@ leomax, Sorry it was written by someone else, sorry about that.

[size=14pt]Time will Tell! [/size]

babestella:

It will not be out of place, because oil prices are generally controlled by global forces and events. However, you will agree with me that if we have our local refineries servicing our local needs with at least 70% of manpower from Nigeria, international oil price will not have any effect here, rather if the price of crude rises as a result of international events, Nigeria will be making more money.
[b]

You have made a very valid point. I respect that. If we have refineries to take care of local consumption and even more refineries to export to other countries, the price will fall even below 65 naira per litre. But BabeStella, there is something I know that you and most people dont know. Due to this subsidy, these oil billionaires pay people to sabotage our refineries so government can keep paying them subsidy. The even bribe the defunct PHCN from the says of NEPA to keep us in the dark so they can sell their product. Imagine my gateman in Lekki that is selling stolen diesel becoming upset that "there is too much NEPA and market no dey" They have local union inside Lekki Phase One from what I gathered later on, to bribe those Nepa boyz to sabotage my street transformer. SOrry for the digress but it was to show you what happen on a street level.

If the price of PMS is kept low on 65 naira. It will not be enticing enough for any FDI or Local Investor to put his billions into building refineries and Babestella dont be one of those who clamour for Government to build refineries and manage them. Nigeria government is a corrup entity. GEJ is only risking his life bringing these changes, against the wishes of the very people who put him there. QED [/b]

I ve the antidote to all this useless labour, TUC n house of reps disrespect for my president! GEJ! Meet me for advice on hw to get NLC to call off the industrial action! Something sensible; take us thirty years back for at least two weeks; shutdown MTN, GLO, AIRTEL, ETISALAT, and all telecoms for two weeks! Take away internet services, shutdown power! Let all be on strike then u will c magic! Meet me for more! If u so wish! Don't forget d address I gave to u during our fb frnds meeting!

i am sure Beaf,Leomax and friends will not see the comments by Stagger be cos dey will never see beyond their nose.

Make una begin justify the figures now, thief people

Barawo people

@Beaf,leomax and friends

If fisherman turn president action against "boko haram" was as swift as against unarmed civilians by removing fuel subsidy even while their so called Cabal ops,stakeholder consultation was going on,many Nigerians would be alive today.
But what did he do? he said and i quote him "Terrorism is global phenomenon that Naija must live with, dt it will soon fizzle out"

Even my 3 yr old son can see that oga jonah is wacko along the likes of Beaf,leomax and co.

At last: Nigerians have found the true meaning of
Jonathan, J.O.N.A.T.H.A.N. ***Just On National Assignment
Τo Harm All Nigerians***

Restore subsidy,

betrani:

shutdown MTN, GLO, AIRTEL, ETISALAT, and all telecoms for two weeks! Take away internet services, shutdown power!

Mr. Man, when solving a problem try not to create further problems. Shioorrr!