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Nairaland Forum / Nairaland / General / Politics / Buhari Is Right; Fuel Subsidy Is A Fraud. (22832 Views)
Deregulation: Brace For N750/litre Petrol When Subsidy Is Removed, Stakeholders / NNPC Petrol Price Without Subsidy Is ₦400/Litre – Marketers / Peter Obi: Fuel Subsidy Is Organized Crime (2) (3) (4)
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Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Mrpojj(m): 4:46pm On Apr 23, 2019 |
Gandollar: Pple don't knw buhari is a puppet Pple are just controlling the old man 1 Like |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Nobody: 4:48pm On Apr 23, 2019 |
eeby1983: NNPC can't because they are spending revenue that they would have used for refinery on subsidy. Neither can any independent marketer build new refineries...except people like Danogte...because subsidy would force them to sell below the production cost meaning they cannot make a profit. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by 1miccza: 4:52pm On Apr 23, 2019 |
tactius: On the contrary all they have to do is carry out strict supervision and implementation of the construction of smaller/ modular refineries in all the states of the federation aided by the private sector, this will support whatever comes out of the current refineries.. It's not about Buhari or GEJ but about a fast thinking and pro active leader who doesn't care less about whose ox is gored.. That is what we don't have now.. 1 Like |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by samsard(m): 4:58pm On Apr 23, 2019 |
Joromi12:The man is truly mad. Imagine selling calculating the price of crude with a blind attitude to global pricing. Totally ridiculous. My own issue is we should have refining capacity above our needs to allow for market forces to bring it down. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by 2T215: 5:04pm On Apr 23, 2019 |
Apt and direct. Thanks for the analysis. tactius: |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by AerialMapper: 5:10pm On Apr 23, 2019 |
Therein lies the reason why they do not want functional refineries. Every government including this benefits from the scam called subsidy. Subsidy based on faulty statistics and even faultier pricing templates. Why are we not talking about repairing the refineries or building new ones. What we pay in "subsidy" would have built new refineries many times over What do i know anyway... |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Nobody: 5:13pm On Apr 23, 2019 |
blackpanda:i was an ex auditor. Audif of nnpc is like looking for pin inside well water. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by searchlight: 5:24pm On Apr 23, 2019 |
tactius:really? does it mean you just acquired sense or you are just being a zombie? I doubt you said same when GEJ tries to remove subsidy. It will never be well with Nigerians and her citizens. God ( if at all he exists ) must hate nonsense |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by blackpanda: 5:25pm On Apr 23, 2019 |
Joromi12: AKUKO |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Nobody: 5:33pm On Apr 23, 2019 |
searchlight: Have supported subsidy removal since 2012.... Yes , I don't like PDP or APC...but I know a good deal when I see one. Have been following the subsidy argument for longer than 2012. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by RealityShot: 5:44pm On Apr 23, 2019 |
SluttanSlayer:All these just because Dangote is building refinery and wants to recover his investments in 1 year! NIGERIANS SHINE YOUR EYES O It's probably time to riot like Algeria and Sudan... |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by bukatyne(f): 6:07pm On Apr 23, 2019 |
tactius: You prefer to pay N200/ liter than pay subsidy cabals for nothing Sorry, you sound like someone being fed or has no responsibilities. If Buhari has 10% of his acclaimed integrity, he would fish out the cabals and let us have peace. Fuel hike + increased VAT = inflation in a country with more than 50% below poverty line. Electricity is epileptic and we run gen almost 14hrs daily when we are at home. Imagine the amount incurred on a weekly basis. Why? |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by bukatyne(f): 6:09pm On Apr 23, 2019 |
blackpanda: Another one is here. How does it not tie into the equation? You get sense so? We don't spend dollars in Nigeria like we don't incur cost in dollars. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Xisnin(m): 6:18pm On Apr 23, 2019 |
ClearFlair:Most yahoo boys campaigned for the next level. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by martins21: 6:23pm On Apr 23, 2019 |
tactius:. You don't have conscience. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Nobody: 6:34pm On Apr 23, 2019 |
bukatyne: 1.I have a job, thank you very much. 2.And yes, you are right. 3.At the same time, we are spending trillions on subsidy regime that is full of corruption....and trillions that could have been used to, you know build refinereis, etc.... 4.If subsidy goes, YES...fuel will rise to N200 per liter....BUT A) Foreign investors will come and build refineries as would local investors attracted by the profit. b) As a result of the resultant improved supply, prices will come down c) Then there is the fact that more JOBS would be created d) Niger and Benin are poorer than us...YET...they pay above N290 per liter. (I asked google). We were here before....in 2001...Obasanjo brought in GSM. One sim cost above N20000 and above. Service was bad. Poeple were angry, and were shouting at government to cut prices. Obj did not hear. And the GSM companies took our money, invested in better facilities, and expansion...and thanks to that....I can type this stuff from my home., instead of the internet cafe I was using in 2004 , for 100 per hour, with slow speed. And you complain about power. Well, when PHCN became discos, the government then brought in subsidy where we pay discos 30 percent of the cost of power, while they were to pay the remaining 70% As a result, DISCOS are running at a loss, have had to be balied out several times, and cannot meet demand for new equipment. Plus. they cannot earn enough to pay GENCOS for power....which is why GENCOS cannot pay gas companies for gas...which is why discos reject power from the gencos...which is why government cannot raise the money needed for fixing transmission,....because everyithing is running at a loss....and as a result, we have BAD POWER. But if you were a businesswoman, or man and you were selling minerals at N100 per bottle, and government intervened and forced you to sell your minerals at N30 so that people can afford it...while they give you a subsidy of N40/.....meaning you lose N30 per bottle...would you be happy? Yet you want the same for your PMS and your power sector. And you complain when marketers smuggle and do scarcity...because if they did not do that they would be BROKE ...and they would sack workers...leading to more joblessness. But no, you guys want a socialist government...while you want to be capitalist,.like...how is that possible Honestly, Obasanjo is not my favoriite person, but if he had listened to you people on GSM....we would have still been struggling with VSAT while our neighbours would have been moving on to 5G.bUT HE DID NOT...and the price of sim came down to N500 after 5 years. The same can happen if we pay high prices for fuel and POWER.....yes, prices would be high...but the resulting increased investment, and so on would eventually bring prices down, and we would even HAVE improved supply more refienries, and 50000mw OF POWER. And what annoys me is that you would call be a bubu zombie. Six years ago, when I was making the same argument under GEJ...you would have called me a wailer. When I don't even LIKE any of those bigot ridden, tribal, parties called PDP or APC. Anyway...continue sabotaging your economy in the name of cheap fuel, and cheap power....and call me an oppressor for telling the truth. Good evening. 1 Like |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Gandollar(f): 6:34pm On Apr 23, 2019 |
GrammarNazi1:Lol |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Nobody: 6:35pm On Apr 23, 2019 |
martins21: Okay. Good evening to you too. I so don't like writing what I have written...but it is the truth...and whether you like it or not, whether you insult me or curse me...it is the truth. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by grandstar(m): 6:42pm On Apr 23, 2019 |
This article was written by an economic illiterate. How can you base value of a barrel on the cost of production? I'm an estate agent and we are the ones that value old machinery that is to be disposed. Why are we called rather than a mechanical engineer. Because the value if a product is determined by market forces, that is the forces of demand and supply. It is not determined by cost of production. If the value of oil was determined by production cost, no company will invest billions in drilling oil. There are times when the market value is less than the production cost! The Saudis crashed the price of oil around 2015 in order to run American shale oil producers out of business. Many were forced to stop producing as the cost of production was higher than the market price 2 Likes 1 Share |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Gift84(f): 6:56pm On Apr 23, 2019 |
Buhari,the friend of the poor |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Gandollar(f): 7:13pm On Apr 23, 2019 |
Mrpojj:An old fool with early signs of dementia for that matter. 2 Likes |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by FoxyBlueSKy(m): 7:21pm On Apr 23, 2019 |
Another Version of Deludness |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by jojothaiv(m): 7:34pm On Apr 23, 2019 |
Jadax:Fuel Subsidy is a scam that Buhari knows... |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Ugosample(m): 8:39pm On Apr 23, 2019 |
Joromi12: you know what's up nwanne nnpc scamming the country clean and cleae |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Ugosample(m): 8:52pm On Apr 23, 2019 |
bukatyne: bukatyne, the current petrol subsidy is the BIGGESR SCAM in Africa Subsidy needs to go, for tangible devt BUT This fuel subsidy seems to br the oNLY major thing that the masses enjoy from the govt?, and the argument is that IF we save from subsidy, the money will still be stolen by politicians So it's a catch 22 situation ideally subsidy should go BUT the peculiarities of Nigeria is another PALAVA |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Ugosample(m): 8:55pm On Apr 23, 2019 |
tactius: You have made points, but disagree with the below But if you were a businesswoman, or man and you were selling minerals at N100 per bottle, and government intervened and forced you to sell your minerals at N30 so that people can afford it...while they give you a subsidy of N40/.....meaning you lose N30 per bottle...would you be happy? if the govt force a you to sell at 30, the govt will subsidise at 70. |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Truthbites: 10:17pm On Apr 23, 2019 |
Buhari isn't right about anything |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by Codes151(m): 8:10am On Apr 24, 2019 |
PMB has already spent trillions on subsidy! Through increment since 5years ago Now paying another cash for subsidy is total abuse and uselessness of the useless Nigerian economy 1 Like |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by StaffofOrayan(m): 9:05am On Apr 24, 2019 |
Very true The dumb youths still believe there is anything like APC/PDP. Politicians are ALL puppets of the highest bidders In the next couple of years another idiot would come to power and claim he needs to remove subsidy and the docile peeps would argue online. 1StopRudeness: |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by StaffofOrayan(m): 9:16am On Apr 24, 2019 |
I believe he meant fuel consumed domestically, hence his reference to PH refinery. Anything produced and consumed locally is 100% determined by the cost of production. Especially when the market is not only guaranteed it is growing daily. Just like real estate, just provide the houses and even before you paint the building, people are already offering you money. grandstar: |
Re: Buhari Is Right; Fuel Subsidy Is A Fraud. by MrSly(m): 9:22am On Apr 24, 2019 |
Islie:Yesssssss! And Good luck was wrong fuel subsidy wasn't a fraud. Wow!!! What a nation with reasonable citizens! |
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