anonimi:


Where were you when Jonathan wanted to LIBERALISE the downstream oil sector that would have allowed investors in refineries to ULTIMATELY bring down price though enhanced COMPETITION?

Was this not what happened with the

- Telecoms
and
- Cement

sectors

And what happened?

What happened to the money saved from the partial subsidy?

Where are the palliatives?

You people talk like you don't live in Nigeria. When petroleum prices go up, not just motorist suffers but we all do. I need more money to power my generator, production firms need more money, hell even telecoms companies suffers as the price of diesel is too high.

What stopped the Goodluck administration from building new refineries, fixing old ones and then removing the subsidy?

That is economic policy with the people in mind.

vanunu:




I know that u are one of those who objected to subsidy removal. At times I wonder the kind of school u people went to.

No reasonable foreign investor will come to Nigeria to build a refinery when your government is going to dictate his selling price to him. If you remove price controls or subsidy, people will come in and build refineries and sell at their own prices.

Mynd44:

And what happened?

What happened to the money saved from the partial subsidy?

Where are the palliatives?

You people talk like you don't live in Nigeria. When petroleum prices go up, not just motorist suffers but we all do. I need more money to power my generator, production firms need more money, hell even telecoms companies suffers as the price of diesel is too high.

What stopped the Goodluck administration from building new refineries, fixing old ones and then removing the subsidy?

That is economic policy with the people in mind.

Asking the government to build new refineries is like going back to your vomit. We have 3 refineries now that are badly run and have probably never attained optimum production capacity since the 80's or 90's when they were built. We need privately held and run refineries, and to have them we must liberalise our downstream sector. You don't put the cart before the horse, remove the subsidy first and allow competition to bring down prices.

duni04:

No reasonable foreign investor will come to Nigeria to build a refinery when your government is going to dictate his selling price to him. If you remove price controls or subsidy, people will come in and build refineries and sell at their own prices.

What we need are local solutions to local problems. Award Oil blocs to oil indigenous firms Dangote, Oando, Adenuga, Zenon oil and then award the license for refinery on the condition that the oil that comes from the Oil bloc is only going to go to the refineries and sold locally at market defined costs.

Take out the price control and watch market forces work

duni04:

Asking the government to build new refineries is like going back to your vomit. We have 3 refineries now that are badly run and have probably never attained optimum production capacity since the 80's or 90's when they were built. We need privately held and run refineries, and to have them we must liberalise our downstream sector. You don't put the cart before the horse, remove the subsidy first and allow competition to bring down prices.

Do not remove the subsidy. Fix the darned refineries, build new ones or allow private investors build new ones then remove subsidy.

Where will the money being used for the subsidy go if it is removed? The same place the money saved from the partial removal went thin air

Mynd44:

What we need are local solutions to local problems. Award Oil blocs to oil indigenous firms Dangote, Oando, Adenuga, Zenon oil and then award the license for refinery on the condition that the oil that comes from the Oil bloc is only going to go to the refineries and sold locally at market defined costs.

Take out the price control and watch market forces work

Oil supply is not the problem, Adenuga already owns oil blocks through conoil. The problem is local refining. Why don't we have people building refineries when we consume a lot of petrol locsally? Cos its not profitable in a price control regime. I'm not going invest 10 billion dollars on a refinery when I'm not sure your government will not wake up tomorrow and tell me to sell petrol at a loss.

Mynd44:

Do not remove the subsidy.[b] Fix the darned refineries, build new ones [/b]or allow private investors build new ones then remove subsidy.

Where will the money being used for the subsidy go if it is removed? The same place the money saved from the partial removal went thin air

You know we've been fixing these refineries since the 80's? You know the number of billionaires that have emerged from helping us 'fix' our refineries?

duni04:

Oil supply is not the problem, Adenuga already owns oil blocks through conoil. The problem is local refining. Why don't we have people building refineries when we consume a lot of petrol locsally? Cos its not profitable in a price control regime. I'm not going invest 10 billion dollars on a refinery when I'm not sure your government will not wake up tomorrow and tell me to sell petrol at a loss.

The only reason there is a price control is because we import refined products. I agree that price control should be removed but not before refineries are built.

An agreement should be reached and when the refineries are almost done, remove price control.

Removing price control before refineries are even constructed is callous and giving the guys importing fuel acess to billions in the 18months it will take to build new refineries

duni04:

You know we've been fixing these refineries since the 80's? You know the number of billionaires that have emerged from helping us 'fix' our refineries?

The reason this is so is that we keep giving this to the corrupt and if they do a bad job, we accept it.

How are we going to successfully do turn around maintenance on a refinery when the president is making statements like "The money Nwobodo stole is not enough to buy a volkswagen car and yet he was sent to jail"? We are sending a message that we condole corruption and so they steal the money.

What ever your prediction may be I don't care ,"I still need some more shoes"

Mynd44:

Do not remove the subsidy. Fix the darned refineries, build new ones or allow private investors build new ones then remove subsidy.

Where will the money being used for the subsidy go if it is removed? The same place the money saved from the partial removal went thin air

Private investors will never ever build refineries without the subsidy being removed or even without an assurance. They have to be able to speculate their financial record with a clear feasibility study.
You don't just invest in a company making losses with the hope that things will get better

Mynd44:

The only reason there is a price control is because we import refined products. I agree that price control should be removed but not before refineries are built.

An agreement should be reached and when the refineries are almost done, remove price control.

Removing price control before refineries are even constructed is callous and giving the guys importing fuel acess to billions in the 18months it will take to build new refineries

Lol well I don't know of any foreign investors that will be willing to play that kind of game in a politically volatile country like Nigeria. So if Jonathans regime agrees to that kind of deal and the foreign investor starts building his refinery, what is the guaranty that if Buhari comes in, he won't cancel the contract? That's not how investment operates. You create an enabling environment first for investment to thrive before investors come. Reomove price controls and watch them swarm around Nigeria to build refineries, like flies on a corpse

duni04:

Lol well I don't know of any foreign investors that will be willing to play that kind of game in a politically volatile country like Nigeria. So if Jonathans regime agrees to that kind of deal and the foreign investor starts building his refinery, what is the guaranty that if Buhari comes in, he won't cancel the contract? That's not how investment operates. You create an enabling environment first for investment to thrive before investors come. Reomove price controls and watch them swarm around Nigeria to build refineries, like flies on a corpse

Guy, you dont need foreign investors to build refineries. You have firms here who can finance that.

An agreement with them detailing the need to continue with the current price regime and have an agreement is enough.

Mynd44:

Guy, you dont need foreign investors to build refineries. You have firms here who can finance that.

An agreement with them detailing the need to continue with the current price regime and have an agreement is enough.

I don't think its workable. It would be way easier and more open if we just removed the subsidy and allowed people build at will. Cutting deals with select local companies and agreeing to sell discounted oil to their refineries on the condition that they sell locally will only replace one form of control with another and promote corruption and monopoly. Its cleaner and easier to open the entire sector up to investment. Though we'll suffer initially, on the long run we'll be the better for it. If we'd agreed to the subsidy removal in 2011, we'd probably be enjoying N80 or N60 petrol now

divaoflife:
Like the O'Neil man said,Sanusi was doing a good job but was removed because of we all know why;
Too bad that it would take a foreigner to tell us what is soooooo glaring-no foreign investors,economy nose-diving,security nil,etc.
Yet some people will be arguing blindly.May we help ourselves o because it is said that the heavens help those who help themselves.

Same Sanusi proposed the oil subsidy removal but some sophisticated folks decided to dance azonto at ojota...

You are being short sighted. You think is going to be easy when he is not given the second term tenure like other zones. Watch out! If you like mind my words. Nigerians depend much more on revenue from oil proceeds. Watch out how this is going to be paralysed. The early they allow this man to finish his second term tenure the better. Northern have made this nation ungovernable for him, likewise is the Niger Deltas going to make the revenue generating source useless for this nation. I only have mercy for the next president if this equation is not balanced.

kingthreat:


Boldening your comments doesn't mean they make sense.

Nice 1 bro. No mind the clown.

imoleay0:
Dr Goodluck Jonathan till 2019!

imagine

I was listening to GEJ speak on TV in Enugu yesterday and i couldn't quite fathom wat he meant when he said and I quote. '' how much did Jim Nwobodo stole!?? Money not enough to acquire a Peugeot saloon car and Buhari regime sent him to Jail''...so there&then, I stopped wondering why he pardoned alameiseiga, a man who embezzled almost enough money to buy the whole Peugeot company... indeed, change is what we need....

JONATHAN WILL LOSE FOUGHT COMING ELECTION.
BOOKMARK THIS PAGE AND QUOTE ME.

arsetalks:
Educate me please. Why exactly should the fuel subsidy be removed.

Let's do this please.


Edited - I mean why should it be removed. Oya educate me.

Bros, mere sighting his moniker sef...u ud know that he has a bungalow brain with nothing upstairs

AAinEqGuinea:


You probably under-emphasized the part where I emphasized the people themselves creating real change and breakthroughs like it has been in an exceedly and exceptional way, abroad and native.. (2014's rebasing stats for Nija have to mean something to say the least)


But yea, hope and change--keep praying on the handout. It's the People that define a country.. and Nigerians are doing just fine as is

I didn't hear an amen 4 d heartfelt prayer. Hahahaha rebasing? I guess we should be celebrating growth without development or a govt & a system dat has created d greatest inequality in our land. dis empty statistics hav no meaning or impact on d masses of Nigeria. d richest black man in d world is Nigerian. d richest black woman is Nigerian. Nigeria has d greatest number of private jet owners in Africa but d mass of d people live in abject poverty - below $1 - $2 a day. Our national patrimony is daily being shared among a cabal of govt sponsors in scams disguised as privatization deals dat reek of corruption & infamy. To dis inept & corrupt govt, stealing is not corruption. dis govt has failed in every area of leadership & development of our nation.
WRONG! A small minority of nigerians ar doing fine as is. That's not good enough 4 Nigeria. We can do better.

Mynd44:
There are loads of investors who want to come into Nigeria but they don't really see the government. They expect the government tl be serious in things like security and power supply which is something that is needed tl trigger economic growth but we seem not to care about them.

I am still here wondering why we have no private refineries yet or why our public refineries are not working well

It has been that way since 1999, not the fault of this administration. Besides, a private refinery is on the way

[size=28pt]In theory and not a proven fact as it could turn out worst with Buhari.[/size]

dollyptosh:
Pls don't mind him. I can't believe some persons on here still feel the subsidy removal was right, you guys are just supporting gej blindly.

The subsidy removal was right.....what was wrong was the follow up that never happened....what did the FG do with the withdrawn subsidy? Nobody knows...so that being the case...like Mynd said....restore the subsidy.Aside...help me understand how you can be bragging about being a big oil producer and not having refineries...nor making serious efforts to have? In Nigeria Petrol should be competing with the price of pure water.

APC is very strong sha! They have even bribed Bloomberg News too!!
I remember they also bribed Aisha Sesay of CNN & Hillary Clinton last year.

I think GEJ has seen the handwriting on the wall ' Mene mene tekel upharsin '...

Otuoke here your (dis) illustrious son comes , to hold court for the creek warriors for the rest of his life!

He has made a choice for us

Oh! How i love the social media; it can neither be bought nor controlled.
how i wish policies will be made out of peoples thought and expectation and not the ''BIG PUSH APPROACH'' we are used to.

Originalsly:
The subsidy removal was right.....what was wrong was the follow up that never happened....what did the FG do with the withdrawn subsidy? Nobody knows...so that being the case...like Mynd said....restore the subsidy.Aside...help me understand how you can be bragging about being a big oil producer and not having refineries...nor making serious efforts to have? In Nigeria Petrol should be competing with the price of pure water.

Petrol can be extreamly cheap in Nigeria, but not through subsidies. Its true that we ought to have refineries but refineries owned by who? Our previous experience with government controlled refineries is that they never work because of vested interests that make money from 'maintaining' them and selling the very little they produce at the government controlled prices, when in actual fact its cheaper.
Petrol can be cheap in Nigeria if we allow people come here and build refineries enmass. There will be no landing cost or foreign exchange costs that importers are currently factoring into their selling price. It'll just be to transport petrol from the refineries to the petrol stations. The only way this kind of regime can operate in Nigeria is when we allow investors come and build these refineries, and they will only come when we liberalise our downstream sector by not dictating their selling price to them. Its very simple!

Mynd44:

Wrong.

I support removal of subsidy but inna country like Nigeria where public officers are not know for being accountable, I suggested it was continued and the reason is simple. The subsidy is the only way the people fells like the government is doing anything reasonable for them.

When the subsidy was removed(even partially), how has the money affected the people? What has changed? What has happened to the money saved?

How has the money affected the man on the street? We were told there will be palliatives and some silly buses where are they? Have you rode one before? Do you know someone who has?

If the money saved form the partial removal was used to fix just one refinery it would have been better. What has been done with the money?

Throughout the oil boom of last year what was done with the excess funds? Did we build or fix our refineries? Did we use the money to fix our power supply or make our society more secured.w

The subsidy removal will have no effect on Nigerians due to corruption so why not just leave it as it was the only way it would benefit the common man. That is economics a government should look at not some economic theory that will end up a failure

You were born with sense and understanding,
No be say you buy am .

Thanks

ideyvexnow:
All of the APC supporters are not realistic.

If Jonathan decides to end corruption today, APC as a party will cease to exist, because Tinubu, who is Mr. corruption himself, Amaechi and Atiku will be arrested alongside many PDP, APC members, including Governors, Ministers, Senators, House of Rep members, Policemen, Military personnel, Pastorpreneurs, imams, civil servants, past Presidents and even Buhari, for the lopsided PTF developmental projects and for jailing mainly southerners while northerners where mostly left free to enjoy their loot. Remember that Dr Alex Ekwueme who was a powerless Vice President was thrown into Kirikiri, while Shehu Shagari who was the main culprit was only given house arrest.

So you see, you guys have everything to lose and absolutely nothing to gain.

Be careful what you wish for, because you may get it.



Since Northerners ruled for 38 years without anything to show for it, this means that the northerners stole a lot more money than the southerners and if Real and holistic fight against corruption is to begin today, then northerners imprisoned will out number southerners.

So let's allow GEJ fight corruption gradually by plugging the avenues through which people steal money.

Yimu switttttttt

Mynd44:

Wrong.

I support removal of subsidy but inna country like Nigeria where public officers are not know for being accountable, I suggested it was continued and the reason is simple. The subsidy is the only way the people fells like the government is doing anything reasonable for them.

When the subsidy was removed(even partially), how has the money affected the people? What has changed? What has happened to the money saved?

How has the money affected the man on the street? We were told there will be palliatives and some silly buses where are they? Have you rode one before? Do you know someone who has?

If the money saved form the partial removal was used to fix just one refinery it would have been better. What has been done with the money?

Throughout the oil boom of last year what was done with the excess funds? Did we build or fix our refineries? Did we use the money to fix our power supply or make our society more secured.

The subsidy removal will have no effect on Nigerians due to corruption so why not just leave it as it was the only way it would benefit the common man. That is economics a government should look at not some economic theory that will end up a failure

God bless ya bro.....you should contest for the next future governor of your state...