"A parliamentary probe into the subsidy scheme in April found it was riddled with fraud that had cost Nigeria $6.8 billion in just three years - equal to a quarter of the national budget. It was one of the biggest corruption scandals in the history of Africa’s top energy producer"
The partial removal of the oil subsidy by the fed govt will go a long way in checkmating the fraud and embezzlemnts.
You know, this subsidy removal and payment issue was just started in January this year. I therefore believe that the govt is still trying to suitably organize the payment process.

I feel it is time every sector/department in Nigeria, including the armed forces and police, go on strike so that this goddamn country will die once and for all.

dedeike:

You re the one who lacks common sense. Fuel subsidy regime is a bane to our development.
First, the idea of using almost one quarter of your national budget to subsidize one single commodity is fundamentally faulty. No economy thrives under that kind of arrangement.

Secondly, it is difficult, given our bad public sector attitude, to use NNPC to build and manage more refineries. We have tried it severally in the past and it ain't working. Successive govts in Nigeria have wasted trillions of Naira in turn around maintenance. It's more lucrative for a govt that wants to corruptly enrich itself to award more contracts fr such turn around maintenance and benefit massively from it. But who manages the refineries afterwards? NNPC?

Thirdly, we need private sector investments in refineries. And for you to achieve this, you need to discourage importation. And for you to discourage importation, you have to remove subsidy so that importation will be less attractive.
No private sector investor will be willing to invest in a sector where prices are fixed by govt.
No private sector investor will take the pains to undertake the long term projects of constructing refineries where his competitors are making quick money from importing PMS and collecting subsidy claims.
So we find ourselves in a fix. No progress. No movement.

Post solidly affirmed by Jmaine

That's good for Nigerians because we all knew that the best way to safe us is to end the damn subsidy because there are so many fraud going on there and when Mr president came out to stop it the cabal them sponsor you guys to go on the street to protest against the good plans because they new that if Mr President put end to Subsidy then the rain of the Subsidy Cabal will end also. But let me ask one Question. where is that Pastor called Bakari that was one of the highly supporters of the street protest because he lost the race to be vice president.

I think the best way is to end the damn Subsidy. Simple.

By the time we remove subsidy,we shall provide 350,000 jobs.create roads,by diesel engine buses.and other promises they made to nigerians.My question is this where are the jobs,roads,buses etc?this government have only deaths and killing of thousands of innocent nigerians,corruption from setting up probe committees.MR jonathan is a big fool

Solution to this problem hinges on three words only:

'Impeach Jonathan Now'.

dedeike:

You re the one who lacks common sense. Fuel subsidy regime is a bane to our development.
First, the idea of using almost one quarter of your national budget to subsidize one single commodity is fundamentally faulty. No economy thrives under that kind of arrangement.

Secondly, it is difficult, given our bad public sector attitude, to use NNPC to build and manage more refineries. We have tried it severally in the past and it ain't working. Successive govts in Nigeria have wasted trillions of Naira in turn around maintenance. It's more lucrative for a govt that wants to corruptly enrich itself to award more contracts fr such turn around maintenance and benefit massively from it. But who manages the refineries afterwards? NNPC?

Thirdly, we need private sector investments in refineries. And for you to achieve this, you need to discourage importation. And for you to discourage importation, you have to remove subsidy so that importation will be less attractive.
No private sector investor will be willing to invest in a sector where prices are fixed by govt.
No private sector investor will take the pains to undertake the long term projects of constructing refineries where his competitors are making quick money from importing PMS and collecting subsidy claims.
So we find ourselves in a fix. No progress. No movement.

So why can't the government subsidise the domestic output of private refineries in Nigeria, and create employment at the same time for thousand of Nigerians instead of wasting precious foreign exchange and keeping foreign refinery workers in employment?

dedeike:

You re the one who lacks common sense. Fuel subsidy regime is a bane to our development.
First, the idea of using almost one quarter of your national budget to subsidize one single commodity is fundamentally faulty. No economy thrives under that kind of arrangement.

Secondly, it is difficult, given our bad public sector attitude, to use NNPC to build and manage more refineries. We have tried it severally in the past and it ain't working. Successive govts in Nigeria have wasted trillions of Naira in turn around maintenance. It's more lucrative for a govt that wants to corruptly enrich itself to award more contracts fr such turn around maintenance and benefit massively from it. But who manages the refineries afterwards? NNPC?

Thirdly, we need private sector investments in refineries. And for you to achieve this, you need to discourage importation. And for you to discourage importation, you have to remove subsidy so that importation will be less attractive.
No private sector investor will be willing to invest in a sector where prices are fixed by govt.
No private sector investor will take the pains to undertake the long term projects of constructing refineries where his competitors are making quick money from importing PMS and collecting subsidy claims.
So we find ourselves in a fix. No progress. No movement.

So why can't the government subsidise the domestic output of private refineries in Nigeria, and create employment at the same time for thousand of Nigerians instead of wasting precious foreign exchange and keeping foreign refinery workers in employment?

jmaine:

Post solidly affirmed by Jmaine

what do we expect. Laptop 3 affirmed what laptop 4 just said. Thats the way it should work. Abeg, where is your main boss, i mean BEAF, its been long since we heard from him or as he is own laptop crashed?

Upright750: That's good for Nigerians because we all knew that the best way to safe us is to end the damn subsidy because there are so many fraud going on there and when Mr president came out to stop it the cabal them sponsor you guys to go on the street to protest against the good plans because they new that if Mr President put end to Subsidy then the rain of the Subsidy Cabal will end also. But let me ask one Question. where is that Pastor called Bakari that was one of the highly supporters of the street protest because he lost the race to be vice president.

I think the best way is to end the damn Subsidy. Simple.

the cabals sponsored the masses to carryout street protest. In short summary, the NLC, The civil society group, the opposition parties are the fucking criminals that robbed this country to the tune of #2.6 trillion. You must be madddd.

No private investor would commit to building refining capacity with the price of the products being articially regulated by govt. Many were opposed to the subsidy removal in Jan because it would have been too steep. A phased approach was needed.

And the passage of the PIB needed to come first, the lay a framework for the sector.

We need to remove all petrol subsidy. It's like the State Police thing, we can delay all we want but it's what we need.

lookmangiw:
what do we expect. Laptop 3 affirmed what laptop 4 just said. Thats the way it should work. Abeg, where is your main boss, i mean BEAF, its been long since we heard from him or as he is own laptop crashed?

Point of correction . .Am laptop number 000 . .Only resident weaklings chose to straw grasp on the lame and worn out laptop mantra . . .You get trounced in an intellectual contest and boom ====> Your ediotic laptop whines suffices for the shallow depth of your depraved souls . . .


P:S -----> What is the serial number of your Chad used BB curve 2 device, given to your squad by El-Rufai . . . . . .This question requires your prompt answer ASAP

OLAJOMO: Another bad news in Naija. is no longer news

I guess when ever there is no bad news in Naija, then that will be news!!

.

jmaine:

Point of correction . .Am laptop number 000 . .Only resident weaklings chose to straw grasp on the lame and worn out laptop mantra . . .You get trounced in an intellectual contest and boom ====> Your ediotic laptop whines suffices for the shallow depth of your depraved souls . . .


P:S -----> What is the serial number of your Chad used BB curve 2 device, given to your squad by El-Rufai . . . . . .This question requires your prompt answer ASAP

i will finish you for here. Just wait,i'm coming.

santuse: I thought by now, at least one of the refinaries would have been working to full capacity with the SURE-P according to GEJ.

indeed warri refinery is working almost full capacity. you need to come see the endless queue of fuel tankers waiting to load fuel at the refinery.

its beginning to look like all south-south, south west and south east fuel stations now lift from here.