since1914:


This is the part I am still yet to comprehend (probably am not intelligent enough to understand such complexities), because, my understanding is that, if the NNPC says it buys crude oil at the prevailing market rates, then it means that when there is a drop in oil prices, consumers should also pay less. Our problem isn't entirely because of plummeting oil prices, but rather, is a direct fallout of our reckless spending habits.

Presently, the 36 state Governors have already started arm - twisting the President to share $2 billion from the Excess Crude Account with them to argument their current allocations., this in my opinion, is a very irresponsible demand not just because of the timing but because of the intent. These monies will simply be used as slush funds for elections.

I agree that we need to raise taxes, especially VAT, because, at 5% we currently have one of the lowest VATs in the world. We also need to review our Personal Income Taxes, because we have too many rich people who are barely paying taxes in this country. But all these still won't amount to anything if we are not prudent. For a start, the Minister of Finance needs to drastically cut down on recurrent expenditure. She needs to take a closer look at what is happening at the budget office, because I think that is where our problem lies. Those guys there are 'Over-budgeting' for things using, over-inflated expenditure templates to make budget estimates.

atlwireles:
Your sufferings will continue. How can a people be so out of touch with their own realities. I want government to sell fuel to you all for N5.00. You are a born Nigerian and you deserve it . Useless bunch of animals.

BossTtdiamonds:


My Dumb self can't even string words properly....
By 2015 my services 'll no longer be needed..and I 'll be back on the streets Jobless...

atlwireles:

BossTtdiamonds:


It shall not be well with me...and the lot of individuals like me who are strugglin' to bring our country down....

Not a curse...but a Fact...

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

idupaul:
I voted him in 2011 but in 2015 he just has to go .. Please Jonathan Go

ayindejimmy:

I failed to grasp the logic behind your comments. Are you saying the only way I can prevent thieves from stealing my family's income is to reduce the amount of money I spend in maintaining my family? I shouldn't bother catching the thieves at all?

Whynotthetruth:


What is this one saying?

nikpet2:
Please I need a good forex website I can invest my money in.. I don't have much experience in it so I'm gonna need someone who is gonna be able to help me..




Thank you

Sodangi77:
GEJ till 2019

GogetterMD:
There is nothing breaking about the news. Was expecting this as a new year gift from our generous Mr President, thanks to the ever falling price of crude oil and failure to curb the excesses of the subsidy thieves
What is the impact of the SURE-P funds from the last subsidy cut? What happened to the promise of prosecution of the subsidy thieves? What happened to the promise of renovation of existing refineries and building new ones? Oil theft and bunkering keeps increasing, not the other way around. Natural gas which is supposed to be a major source of income to the nation isn't, cause of the failure to have put a stop to gas flaring. More questions than answers

cramjones:
Is this not the GEJ that caused an occupy Nigeria? Is he not the one that paid billions of $$ to cronies in the name of subsidy and increased subsidy 10x? If I did not know GEJ, looking at this picture I will think he suffers from Downs or Edward's syndrome. The word clueless falls short in describing this picture. This was a picture taken on his birthday yesterday, and the picture shows you that the leader of Nigeria is indeed clueless. Is this the person that wants to rule Nigeria beyond 2015 (that is if Nigeria still exists)? His face tells it all. Fellows be wise, desist from voting a retard in power!

-CramJones

seanet01:
Invest your money in real estate. Lots of land, hostels, shopping complexes, self contained buildings and consumables like rcement. Transport is also good. forget about forex..
Don say i did not warn you.

BruzMoney:
Hmmmm! When will it get beta??

Toks2008:



You guys still don't get it.

The big question is why have we not put the refineries into work all these years?

Imagine the ijebus bringing cassava to Lagos to process to ijebu garri and now take it back to ijebu land to sell at increase prices with the excuse that the facilities to process cassava to garri in ijebu land is faulty.

Cant you see that we have been taken for fools all these years?

these guys steal our crude oil through exporting and this is why they refused to repair as well as create more refineries yet they still suffer the citizens to pay for their own greed,lapses and mediocrity.

Is this fair?

sevule:


Since it is pretty obvious that your English is quite deficient would you rather that I say it in Pidgin? Or maybe Yoruba or Igbo?

Whynotthetruth:



Bro, no need for abuses yet...why run away when you seem very ignorant...wait a second, let me explain to you how and why they are right...if they don't remove subsidy, then we keep paying importers and putting pressure on the naira hence we grow other economies and force ours and naira to go down...Also, if we don't remove subsidy then, private sector will not invest in that sector because government is the one regulating prices...can you remember the time of NITEL? and how that sector was deregulated? Finally, so with subsidy we will keep regulating that sector thereby pushing away private sector investment and encouraging importation which kills our economy and creates jobs in those countries we are importing from who have functional refineries....is it clear now..? if you don't understand Nigeria and run to another country... you will still run back more confused cos the problem is not in Nigeria but in you...safe journey