orimsamsam:
dude d problem with you is dat you are just too sentimental in your judgement. You criticize any you feel does not support jonathan 2015 re-election. For God sake, nigeria is an oil producing country. Why cant we repair our faulty refinering and build new one. The country u mention dat nigeria import petrol frm has a higher gdp dan nigeria. The earliar you start saying the truth the better

My guy this is not about refineries, yes I agree our refineries should be repaired and more should be bullt but the fact is that we still import petrol and with the current price of crude oil in the market, there is no way you can buy refined petrol at N109 without subsidy as the article claims. Those countries GDPs have nothing to do with their petrol price, they sell according to the price of crude oil in the market + the cost of refining it. If they sell for an equivalent of N300 in their countries, there is no way we can buy from them for anything less, so the price of petrol definitely can't be N109 without subsidy.
If the article was about the Government's failure to repair our refineries to full capacity or build new ones, I wouldn't have commented.
2 private refineries, Dangote in Lagos and Orient in Anambra are being built anyway.

With the devaluation of our naira, pump price without subsidy is going to be much higher.

ayindejimmy:

Whats our business with subsidy if we have our own refineries? Who grounded our refineries and why?
How many Opec members refined their crude outside?
We're members of Opec for crying out loud...dont we get any benefits from having oil?
We pay thru our nose for water, health,education, power...... and some ppl wanna compare us with Russia?
Now, what do the masses benefit for being in an oil producinproducing country ? Insecurity. ..if you ask me.
This whole subsidy is a scam

Saudi Arabia has refineries, but they still subsidise Petrol, Venezuela has refineries, but they still subsidise fuel. I don't Know what your argument is about.

Collynzo9:

My guy this is not about refineries, yes I agree our refineries should be repaired and more should be bullt but the fact is that we still import petrol and with the current price of crude oil in the market, there is no way you can buy refined petrol at N109 without subsidy as the article claims. Those countries GDPs have nothing to do with their petrol price, they sell according to the price of crude oil in the market + the cost of refining it. If they sell for an equivalent of N300 in their countries, there is no way we can buy from them for anything less, so the price of petrol definitely can't be N109 without subsidy.
If the article was about the Government's failure to repair our refineries to full capacity or build new ones, I wouldn't have commented.
2 private refineries, Dangote in Lagos and Orient in Anambra are being built anyway.

That is the true picture but Nigerians will never understand it. they say repair refineries like it is going to make petrol prices cheaper. Why do you think Dangote is say that he will not sell his Petrol in Nigeria when his Refinery is ready? Because at the price we are buying it there will be no profit for him if there is no subsidy.

ducii:


Saudi Arabia has refineries, but they still subsidise Petrol, Venezuela has refineries, but they still subsidise fuel. I don't Know what your argument is about.

My argument is that you failed to say Saudi Arabia gives its citizens free health policies. Saudi Arabia has constant power supply, better roads, better education system and more opportunities for citizens to climb the social ladder to financial independence.
You can't compare Nigeria with Venezuela and Saudi because the Nigerians don't benefits ANYTHING from our resources. Most Nigerians are traders are most Saudis and Venezuelans traders?

ayindejimmy:

My argument is that you failed to say Saudi Arabia gives its citizens free health policies. Saudi Arabia has constant power supply, better roads, better education system and more opportunities for citizens to climb the social ladder to financial independence.
You can't compare Nigeria with Venezuela and Saudi because the Nigerians don't benefits ANYTHING from our resources. Most Nigerians are traders are most Saudis and Venezuelans traders?

Ok you fail to see the logic. Ok lets make some comparisons

* Saudi Arabia produces 6.5million barrels of oil every day, Nigeria struggles to get 2 million barrels everyday.

* Saudi Arabia has a population of about 25 million, Nigeria's population is 170 million people. so you see Saudi Arabia generates more money from the sale of crude oil and there by can do whatever they like with their proceeds.


The reason why Russia does not subsidise fuel is because of their large population.
As Russia, Nigeria also has a large population and can not be subsidising petrol, we are subsidising the wrong aspect of our lives, why do we not use the money for fuel subsidy to subsidise health care, build better hospitals, better Universities. Do you know what 8 billion dollars a year can build for Nigerians?

Ok ask yourself another question why is Petrol not cheaper in the US, than it is in Nigeria, since the US now produces SHALE OIL. The US produces close to 9 million barrels a day of shale oil, but yet Petrol is sold higher in the US than in Nigeria. The answer to that question is that the US attaches more emphasis to their Health, welfare, Education and infrastructural sectors than just reducing the price of Petrol through subsidy.

The money Nigeria is spending on subsidy is stupid if you ask me, that money could be spent on other beneficial and more important things, than on Petrol.

this pdp lead govt is fraudulent and if any one is still believing them, let that one go and see a doctor.
subsidy today, subsidy tomorrow. the one u removed in 2012, how much money have u recovered since then and where is the money? where the buses that we were told will be passing through our kitchens and toilets?
when u wanted to sell phcn, u said all manners of lies and today, what do we get? STEADY HIKE IN THE TARIFF RATHER THAN STEADY POWER SUPPLY.
what is stopping every nigerian from getting the prepaid meter? can't govt give these criminal owners of light in nigeria ultimatum to provide these meters of forget their investments?
till date, nigerians are still buying electric poles, high and low tension cables, transformers and every other accessories and then pay the phcn officials to install same. after the installation, they will tell u these are phcn properties. God punish them. this govt is fraudulent. u collect tax, vat and charges when selling ur token and turn back to tell me that i am owing u in a prepaid arrangement when i still have credit on my meter - pure fraud.
people who have houses in their villages will return back after 2 years away to pay phcn and nepa for services they did not use over the years of absence pure fraud.
even if u remove this subsidy, nothing will change. as long as u lack the power to constitutionally deal with those stealing the subsidy money, u continue calling them cabal, how are u going to stop them from coming to steal the money from bank?

ducii:


Ok you fail to see the logic. Ok lets make some comparisons

* Saudi Arabia produces 6.5million barrels of oil every day, Nigeria struggles to get 2 million barrels everyday.

* Saudi Arabia has a population of about 25 million, Nigeria's population is 170 million people. so you see Saudi Arabia generates more money from the sale of crude oil and there by can do whatever they like with their proceeds.


The reason why Russia does not subsidise fuel is because of their large population.
As Russia, Nigeria also has a large population and can not be subsidising petrol, we are subsidising the wrong aspect of our lives, why do we not use the money for fuel subsidy to subsidise health care, build better hospitals, better Universities. Do you know what 8 billion dollars a year can build for Nigerians?

Ok ask yourself another question why is Petrol not cheaper in the US, than it is in Nigeria, since the US now produces SHALE OIL. The US produces close to 9 million barrels a day of shale oil, but yet Petrol is sold higher in the US than in Nigeria. The answer to that question is that the US attaches more emphasis to their Health, welfare, Education and infrastructural sectors than just reducing the price of Petrol through subsidy.

The money Nigeria is spending on subsidy is stupid if you ask me, that money could be spent on other beneficial and more important things, than on Petrol.

Nice points you've raised.. But the issue here is trust. Look at this scenario. If fuel is being subsidised how come Yar Adau was able to reduce the pump price? Or he didn't know what he was doing. Are you telling me that the government caters for the whole population of Nigeria? Because you made reference to our population and Saudi's. People basically hustle to survive on their own. We produce our own water, tile our streets, buy transformer and wires to connect to the grill.... Even make arrangement for our own security! Where in the world does that happen?
If the government had been able to manage the few they've removed from the 'so- called' subsidy people would be convinced. But for the past 3 years what do we have to show for it? It's all a blatant fraud. And they'll all pay for it in the not too distance future.
Petrol is not cheaper in the US because their transport system works. Education works... And government there is institutionalised. It's cheaper to use public transport than personal. And the dollar is more valuable in the market.

ayindejimmy:

Nice points you've raised.. But the issue here is trust. Look at this scenario. If fuel is being subsidised how come Yar Adau was able to reduce the pump price? Or he didn't know what he was doing. Are you telling me that the government caters for the whole population of Nigeria? Because you made reference to our population and Saudi's. People basically hustle to survive on their own. We produce our own water, tile our streets, buy transformer and wires to connect to the grill.... Even make arrangement for our own security! Where in the world does that happen?
If the government had been able to manage the few they've removed from the 'so- called' subsidy people would be convinced. But for the past 3 years what do we have to show for it? It's all a blatant fraud. And they'll all pay for it in the not too distance future.
Petrol is not cheaper in the US because their transport system works. Education works... And government there is institutionalised. It's cheaper to use public transport than personal. And the dollar is more valuable in the market.

Now you are begin to see my point, that there are more important aspect of governance than reducing the price of Petrol pump prices.
The government is using fuel subsidy as an excuse not to do their duty, and deny its citizenry what they deserve.
I think if you ask me I will say Late President Yar Adua made a mistake by reducing fuel prices, through subsidy, I think he was ill advised.

For me, if he had used that money to Build hospitals and made health care affordable for Nigerians it would have helped in increasing our Mortality age and would have been a better welfare programme, than this Fuel subsidy(because that is a form of welfare as well)

Nigeria Spends $8 billion per annum on Fuel subsidy, ok imagine since we started this subsidy thing, that we spent for instance $200 million per year to build a UK or USA styled hospital per state in Nigeria, it would have only cost us $7.2 billion to do. So imagine if we had continued for 6 or 7 years that this subsidy thing has been going on, what our health system would have looked like today.