FG to remove petrol subsidy in May, PDP chieftain


A Peoples Democratic Party (PDP) chieftain Dr. Katchy Onunuju has said that the Federal Government would in the next 90 days remove the Petroleum Support Fund (PSF) otherwise known as petrol subsidy.

He made the revelation today in Abuja at the Town Hall meeting on Natural Resources Governance in Nigeria organised by the Centre for Democracy and Development (CDD).

He said the government’s intention is not to build refineries but to create an enabling environment for private Nigerians to own refineries and provide jobs for the citizenry in the country.

“As I am talking to you today, I believe in the next 90 days you will not hear of subsidy, we will remove it, our intention is to remove it let use the crude to refine at home. We don’t want to come and build refineries, no. Create enabling environment and let Nigerians build it. Let us earn it even if there is a marginal increase in the cost let us you and me have our own. Let's our brothers and sisters work,” Onunuju said.
He said crude oil contributes 15 percent to the country’s Gross Domestic Products (GDP) and 80 percent revenue and that its export merely creates jobs and more economic opportunities for other countries.

He added: “The crude oil only contributes 15 percent to our GDP because Nigeria is lazy. We come to Abuja for money to be shared for us because of that oil and gas money. It is because we are lazy we get 80 percent of revenue from crude oil and we said no, it makes no sense. Why do you export that crude and the people there use it to create jobs for their people? That is what they are doing. As they build refineries they employ their people. They refine the crude oil to build ancillary industry for their people.”

He said the struggle for this year's presidential election is not for nothing but a scramble for the oil and gas industry, stressing that it is about time for the award of new oil licenses.

However, the APC National Publicity Secretary, Alhaji Lai Mohammed, said that if his party win the February 14 presidential election, it would split the Petroleum Industry Bill (PIB) and represent it to the National Assembly.
He said the Petroleum Industry Bill as presently compiled is quite complex because it is attempting to combine the reform of the regulatory agencies, the reform of the NNPC, and the distribution of oil revenue in one document.

SOURCE:http://www.dailytrust.com.ng/daily/news/46376-fg-to-remove-petrol-subsidy-in-may-pdp-chieftain

Kindly reason like a lady for a moment. Who among the 2 gentle men below will you spend February 14(val's day)with? Below are a few of their qualities. GEJ: He is the incumbent who has been your boyfriend for over 5yrs now. He is a zoologists and appears calm and friendly. A christian from the south with a Phd. Boasts of reviving the rail transportation and also provides you with plenty to eat as he believes he has transformed the agricultural sector amongst others. Even though many believe he has exposed you to insecurity, corruption and has reduced your image in the commitee of nations ladies, he believes if giving 4 more years, he will right those wrongs. He loves you thesame way your past lovers did 15yrs ago. Heavily boxed with resources and connections, he promises to continue with what he's been doing in the relationship and even do more only if you accept to go on another date with him this february 14 best man: architect Namadi Sambo, a very loyal friend who is hardly seen nor heard. Boasts of reconciling aggrieved friends of the incumbent. Other friends of the incumbent are Femi fani-kayode, Fayose, pastor Ayo oritsejafor etc [img]http://4.bp..com/-ORfeG9hOA2M/VHZAVbViqbI/AAAAAAAD-aI/NTyV6YI5qN4/s1600/2.jpg[/img] Buhari: GMB, as he is fondly called, is a retired general, a lover of discipline and a man of integrity. He has tried for over a decade now to be your man and still shows no sign of giving up. He believes he loves you so much to heed to the voice of relent. He once dated you before, and during that period, you were a beauty without a single blemish of corruption. He just can't stand beside and watch you rot away. Many believe he's too old for you and you've had him before, so you need something different. He believes he is CHANGE and willing to make-up with you that's why he wants you to go out on a date with him on FEbuhari14. bestman: Osinbajo, a Professor, SAN and a Pastor moulded into one. He has rallied round your neighborhood, telling your friends how much love GMB has for you, his plans and how he intends to fulfill them to the betterment of your life. He is willing to help his friend redeem you from the claws of corruption and insecurity which has plunged you into an open relationship. Other friends are Rotimi Amaechi, Fashola, Rochas Okorocha etc [size=67pt]click like for GMB.....share for GEJ. pick wisely[/size]

Na everyday fuel subsidy removal news dey break. Not news again.

Anywayz, Febuari 14 is around d corner.

so how much will a litre go for

The price of a litre of fuel will now increase to 150naira or more?

Nigerians please shine una eyes o!

Fuel subsidy has been removed tey tey

Dr. Onunuju,

How much does it cost to drill and refine (locally) a litre of premium motor spirit in Nigeria today? Nigerians want to know how much it is so that it can be compared to the cost of importing a litre of refined premium motor spirit. Is it greater than, equal to or less than the current pump price of 87 Naira? While you are at it, let us have the same kind of information for AGO and DPK.

Nigerians want to know. There is no reason why this information should be known only to the mandarins in the ministries of finance and petroleum resources. Nigerians deserve to know whether or not a subsidy actually exists. Goddamit, I have been asking this question for months now and no one has been able to give me a clear answer!!!

no b until we vote am again...make him tell us d job wey him sae him go create wen dem been remove am 2012 and by d way..i dey stay abj..i nevr see dox subsidy buses o...gej we leav u with God

Government is getting out of the oil business. You can import or refine and sell for whatever price the market in Nigeria is ready to pay. Government has no business in the Petroleum sector.

There is no fuel subsidy so nothing to remove. The money is being shared in Abuja .

This president think shey we no get sense

buhari is ok

ok

Every body knows that one nah, some times I wonder and ponder on the duties of a government in making life easier for it's citizens through so many policies, infrastructures, and many more. But this government has really tried in doing the direct opposite. I hope for a day when the people will wise up and stop trading an agonizing 4 years for 3 yards of ankara and 8 cups of rice.