PassingShot:
It's unthinkable that PDP could not get our refineries to work to full capacity in sixteen years!

I think Obasanjo should take a larger share of the blame honestly.

The price of fuel after removal of subsidy shuldnt matter here because Nigerians for the past few weeks were willing to buy fuel at 500naira/litre,Fuel was selling at 140/litre in 2012 when GEJ removed subsidy.

Beremx:
How much will a litre of fuel be sold for then?

I cannot be against the removal of fuel subsidy in 2012 and be in favour of it in 2015. That's sheer hypocrisy.

Yea, that was my thinking too. But, really, if Jonathan and his government had really taken time to explain why it had to be removed to the masses, maybe we would have agreed. But we just woke up one morning, and heard fuel was to be sold for N150.

PassingShot:

You will be surprised to learn that even after the subsidy removal, PMS may not be more than 100 naira per liter or less.

Another angle to it is, if there was actually a subsidy and it is removed, such ploughed back money can be spent for infrastructural development which GEJ failed to provide.

Besides, the 2015 budget has provision for about 30% of what is needed for subsidy in 2015. To subsidize (assuming it is real), the government will have to borrow money again.

My position is, if subsidy actually exists, remove it now and work to get the refineries ready to refine our local demands. And when that is done, revise the pump price downward to reflect that current situation then.

what if more people are given license to import fuel,will it also decrease the price?

Myself2:


And which voodoo calculation is that?

1) One barrel of Crude oil = 42 gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined)
capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing
equipment = 30% i.e. 133,500 barrels per day.

4) 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) =
12millions litres

6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.

7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production; – Findings / development – $3.5
– Production cost – $1.5
– Refining Cost – $12.6
– Pipeline/transportation – $1.5
– Distr/bridging fund Margin -$15.69
True cost of one litre of petroleum anywhere in Nigeria;
– Total sum cost = $34.8
– 1ltr cost = $34.8/159 litres = $0.219
– Naira equiv. 0.219xN160= N35.02k
– Add Tax N5 + N35.02 = N40.02
9) Let FGN refute the above composition and if not, they should tell us how they came about
N95/N85 litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as
there was NONE in the first place.

So GEJ was correct...i have always known his intentions for Nigeria were genuine. Well One down... so many more to go. Tribalism and ethnicity was the fuel used in kicking him out of office. If we had listened to him, we should not have wasted all these years. Some sections of our country displayed immaturity in dealing with that policy. Dont forget that IMMATURITY can be defined as a behaviour that is appropriate to someone younger.

Buhari tell innocent motors to deliver 500 60 seater bus to each state on behave of the FG an let a company manage them. Let everybody jump on buses if you want if you can't goodluck Jonathan to you.

Prof. Tam David West said that there is no subsidy attached to fuel.

Buhari himself said that he doesn't know what fuel subsidy is.

And saraki wants him to remove subsidy in fuel. Do you want Buhari to remove what does not exist?

Ezenwammadu:
Hypocrisy is when you where abusing GEJ for trying remove fuel subsidy in 2012 and now screaming remove fuel subsidy

Get it right. He (Saraki) is in support of subsidy, but expressing concerns on its management that is doing us more harm.

AreaFada2:
.

But GEJ saw the fraud and the highly connected people, and the difficulty fighting it. Because too many people have been eating where they didn't sow.

He the only way was to remove subsidy but you all called him clueless.

So this is pure hypocrisy.

To start with, GEJ failed woefully in the way and manner he tried to remove the subsidy (if there really was).

You don't wake up one morning to announce such removal and increase in pump price without sensitizing the nation; without discussing with major stakeholders.

And the partial removal that he did, what did we get in returns?

The SURE-P program, as has been revealed just last week that the employee figure was inflated from 12k to 35k, is another evidence of the scam.

The buses that were promised, where are they today? The refineries, where are they?

Bottom line:
1. I believe there was no true subsidy in the first instance. What we had was an imaginary subsidy.

2. If there truly was subsidy, GEJ could have handled the removal in a more responsible manner than just announcing through the radio, on January 1st 2012, that subsidy was removed. No where in the whole world will such action go unchallenged. He needed to have discussed it with major stakeholders the need to remove subsidy. IBB, Abacha and even OBJ removed some subsidy and we witnessed how they handled it.

3. Nigerians, by rejecting the subsidy, were able to reduce/limit their loss had we allowed full subsidy removal.

4. Now that majority of Nigerians believe we have a more trust-worthy president in Buhari, they will accept a subsidy removal (if there was any) provided they know what they'd get in returns in predetermined dates.

lolababe331e:


It's not hypocrisy, many of us understood the reason for it then but didn't trust GEJ and knew he and his cronies would steal any money saved from paying subsidy. Buhari on the other hand I trust, that's the difference

We all support him removing subsidy but on the other hand, PMS must sell at #40 (Kero for #45 and diesel for #50) per litre immediately after subsidy removal. There should be no hike in price or trust Nigerians, we go all out in the project mission "Occupy Hipocrisy"!!!

atbu1983:


A liter will be 155naira to 160 naira. that is s price of 1 litre in Ghana

Atbu as in the univ?

kay29000:


Yea, that was my thinking too. But, really, if Jonathan and his government had really taken time to explain why it had to be removed to the masses, maybe we would have agreed. But we just woke up one morning, and heard fuel was to be sold for N150.

[size=18pt]They did explain it and many others did but most of you had heads and nostrils up deep in the ass of ACN to understand it[/size]

femialiu:


Get your facts right...this dude has always been against subsidy removal...he was in PDP in 2012.

Yeah, that's what they want us to believe.
They use an ex-pdp member to voice their opinion, to avoid people tagging them as hypocrites.

Ezenwammadu:
Hypocrisy is when you where abusing GEJ for trying remove fuel subsidy in 2012 and now screaming remove fuel subsidy

For the first time, you talk wetin make sense to me.















But, what was the subsidy removal money used for??

kingslly:
The price of fuel after removal of subsidy shuldnt matter here because Nigerians for the past few weeks were willing to buy fuel at 500naira/litre,Fuel was selling at 140/litre in 2012 when GEJ removed subsidy.

Willing to buy? Do you know what is called "will"? In the absence of alternative, you said Nigerians are "willing" at that price....SMH

Most Nigerians were not totaly against the removal of fuel subsidy then but the timing.

kay29000:


Yea, that was my thinking too. But, really, if Jonathan and his government had really taken time to explain why it had to be removed to the masses, maybe we would have agreed. But we just woke up one morning, and heard fuel was to be sold for N150.

Story for the gods! Ignorance is no excuse, bro!
I thought the S.E were foools then?
Looks like they're the ones who understood afterall.
Kikikikiki!

Those who abused Jonathan and called him clueless plus other names must swallow back their vomit.

Wasted time and energy on Occupy Nigeria, innit

Beremx:
what if more people are given license to import fuel,will it also decrease the price?

The fact is, if truly there was subsidy (I still doubt there is), giving license to more importers will not solve the problem if the government is not ready to subsidize it. All those importers will still agree on what they will sell per liter.

The best bet is to get our refineries to work which luckily is a main agenda of Buhari.

misinformation, saraki was with Jonathan in 2011, in fact in his good book.....TANoid

onatisi:
The same set of people that sponsored and organised violent protests against the removal of fuel subsidy in 2012 because they weren't in power are ones now clamoring for it because they are now in power. Splendid!!!!!!!

PassingShot:
It's unthinkable that PDP could not get our refineries to work to full capacity in sixteen years!

Which PDP?
The one that is now APC or another one




www.nairaland.com/attachments/2102459_apcteam_png6dc9407cdcc2b68174c445361fc3e4c9

Burger01:
Subsidy must go!

hmmmmm... now that it's buhari turn all of you(apc) suddenly becomes supporter of subsidy removal. Na wa o.. 3 days to inauguration where is buhari??

onatisi:
The same set of people that sponsored and organised violent protests against the removal of fuel subsidy in 2012 because they weren't in power are ones now clamoring for it because they are now in power. Splendid!!!!!!!

There is God ooooo! Second name of APC is bunch of hypocrites. I hate them because any thing they do is perfect.

Am with saraki on this...

anonimi:


Which PDP?
The one that is now APC or another one

Do you seriously think you're making sense?

kay29000:


Yea, that was my thinking too. But, really, if Jonathan and his government had really taken time to explain why it had to be removed to the masses, maybe we would have agreed. But we just woke up one morning, and heard fuel was to be sold for N150.

.

People took a sectarian approach to it. They were NOT ready to hear or listen. It wasn't at all about rational. It was about plans to unseat GEJ come 2015. It was making him look as bad as possible.

People like me who tried explaining here were shouted down by tribal bigots.

GEJ could not go about arresting Wale Tinubu, Otedola, Dangote's Uncle (Dantata), Ubah and the rest that pocketed billions in subsidy that Nigerians didn't enjoy.

They would have called him a militant from the creek, out to deal with non-Niger Deltans.

Now people are talking about subsidy from all corners of their mouth.

People should get ready for the "change" they clamour for. Removal of subsidy would be just a start.

PassingShot:
Do you seriously think you're making sense?

You should ask yourself that question

onatisi:
your post makes no sense. So because u didn't trust gej ,u allowed the nation to lose about 20billion dollars to oil marketers and to punish the nation for 4 solid years so that when u come into power u will remove itdoes that make any common sense to u? Do u know how much nigeria has lost as payments to these oil marketers within 4years

can you tell us what the fund generated from the partial removal was used for, because the refineries are still not working even after the partial removal.