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National Assembly Increases Fuel Subsidy To N521bn - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / National Assembly Increases Fuel Subsidy To N521bn (17512 Views)

New Petrol Price: A Shift From Subsidy To Profit Making / FG Ends Kerosene Subsidy, To Sell For N83 Per Litre / Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 (2) (3) (4)

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Re: National Assembly Increases Fuel Subsidy To N521bn by Nobody: 10:04am On Dec 01, 2015
99% of people commenting here did not read the article. I tried but couldn't finish it. I am better than people that would read only the headline and comment poo.

I am not a fan of subsidy. The essence of subsidy is to reduce the plight of the masses for the consumption of essential good, but the in the case of fuel subsidy, the effects is almost unnoticed.
Government should instead subsidize some of these costly CONDOMS. The cost of buying condoms here in Abj can get you one Olosho for the night. #MyOpinion.
Re: National Assembly Increases Fuel Subsidy To N521bn by greatiyk4u(m): 10:05am On Dec 01, 2015
Buhari truly has a lot of job 2 do in this country........just imagine the extent of rot in the system

I strongly believe in his integrity#

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by sage2(m): 10:05am On Dec 01, 2015
Has Buhari finally agreed that there is indeed subsidy?

6 Likes

Re: National Assembly Increases Fuel Subsidy To N521bn by Eseries(m): 10:06am On Dec 01, 2015
In Baba's Voice " I dont know what is Subsidy" A heavy round of applause
'' As far as am concern.... what is subsidy? who is subsidizing who?" another resounding applause! grin grin grin grin grin

Shaking my Head!

5 Likes

Re: National Assembly Increases Fuel Subsidy To N521bn by Baboo13(m): 10:07am On Dec 01, 2015
And Buhari said subsidy is a scam.

Issokay

2 Likes

Re: National Assembly Increases Fuel Subsidy To N521bn by Bigcake: 10:08am On Dec 01, 2015
Fuel subsidy should be eliminated with immediate effect... It's absolutely not doing anyone any good.... It benefits only the rich who fuel their massive Jeep car tanks with 150litres while a poor roadside artisan only struggle to buy 4litres for his normal day usage. Now, with this simple analogy, who is fooling who?


NB..... I'm of the view that education at all levels should be 100percent subsidized and not premium motor spirit that benefits a few.
Re: National Assembly Increases Fuel Subsidy To N521bn by specco(m): 10:08am On Dec 01, 2015
Keneking:
Good job by PMB

"Appropriation that the subsidy captured in the budget was only for the period January to September 2015". Why did Jonathan not pay the subsidy between January 1, 2015 - May 29, 2015 angry angry angry
You are a village compound fool. Why not keep quiet if you dont have knowledge/sense

2 Likes

Re: National Assembly Increases Fuel Subsidy To N521bn by VIPERVENOM(m): 10:08am On Dec 01, 2015
Subsidy should be removed.........but not in d manner in which gej did.
Re: National Assembly Increases Fuel Subsidy To N521bn by tete7000(m): 10:09am On Dec 01, 2015
Keneking:
Good job by PMB

"Appropriation that the subsidy captured in the budget was only for the period January to September 2015". Why did Jonathan not pay the subsidy between January 1, 2015 - May 29, 2015 angry angry angry


Because government is a continuum. Deferred payment is a norm in doing business with government since budget is usually based on projected and not earned income.

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by kachnov(m): 10:10am On Dec 01, 2015
Good...Nigerians don't want the whole money..they just want change.
Re: National Assembly Increases Fuel Subsidy To N521bn by gurunlocker: 10:10am On Dec 01, 2015
This is definitely a scam, how won't jonathan pay subsidy fee from january to may?

This same money APC want to repay? i thought they also paid one subsidy fee when buhari first came into power.

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by firstYS(m): 10:12am On Dec 01, 2015
Am laughing on my toes. If this stupidity continues till January I swear there will be mass protest. No job, no money outside and inside, even there is low patronage and this stupid fools are escalating the subsidy money. Am smelling Mass protest come January 2016.

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by TheGoodJoe(m): 10:13am On Dec 01, 2015
[b]Speaking on the development, the committee chairman, Senator Danjuma Goje, said the committee was disappointed to discover that the government was laying the foundation for another
precarious situation by failing to budget for the subsidy claims for the last quarter of the year. “We are concerned because we don’t want to see this kind of situation in the next four years again. We want to see that fuel scarcity is totally eliminated 24 hours a day and fuel is available to all.

“But we are disappointed to hear that this subsidy is only from January to September. With Christmas around the corner, it will be unfortunate that after paying this money, we will come back and face this
problem again,” Goje said.

Also speaking, Senator Adamu Aliero (Kebbi Central) said approving only N413 billion would amount to postponing the evil day, insisting that the October to December subsidy claims must be approved in the supplementary budget. “We don’t want a situation where long queues will surface again. We don’t want a temporary solution. We want the subsidies to cover up to December. This is unacceptable, it must be corrected. We must find a way to approve it as we enter into the Christmas to New Year period,” Aliero said.[/b]
Re: National Assembly Increases Fuel Subsidy To N521bn by slap1(m): 10:16am On Dec 01, 2015
The president who knows nothing about subsidy is increasing subsidy.

4 Likes 3 Shares

Re: National Assembly Increases Fuel Subsidy To N521bn by mescapee: 10:16am On Dec 01, 2015
gurunlocker:
This is definitely a scam, how won't jonathan pay subsidy fee from january to may?

This same money APC want to repay? i thought they also paid one subsidy fee when buhari first came into power.

Good Observation!!!

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by Missmossy(f): 10:17am On Dec 01, 2015
Chai!!!



Let's see where this gets us.
Re: National Assembly Increases Fuel Subsidy To N521bn by TheGoodJoe(m): 10:19am On Dec 01, 2015
Providing details, Senator Akpan Bassey (Akwa Ibom) said intelligence reports before the National Assembly showed that the total subsidy claims including that of NNPC stood at N950 billion, and the corporation had been pretending that the entire subsidy from January to September was N413 billion.
Re: National Assembly Increases Fuel Subsidy To N521bn by Standing5(m): 10:19am On Dec 01, 2015
Until the day they remove that subsidy we will continue to subsidize corruption. When the product was about $100 in open market they paid marketters huge subsidy now it is selling for less than $50 they still get huge subsidy. If not for the failing Naira, I see no reason for the price to go up again.
Re: National Assembly Increases Fuel Subsidy To N521bn by Nobody: 10:21am On Dec 01, 2015
VIPERVENOM:
Subsidy should be removed.........but not in d manner in which gej did.
Can you suggest the manner you would want it removed?
Re: National Assembly Increases Fuel Subsidy To N521bn by saint047(m): 10:21am On Dec 01, 2015
My attention has also been drawn to the fact that FG has requested an additional 100B for subsidy bringing it to N513B for supplementary As a matter of urgent national importance, I want to ask our most distinguished Sen @benmurraybruce to inquire about this N512B on subsidy It is illogical and totally unacceptable that when oil prices have reduced drastically, FG is requesting 513B for Subsidy This supplementary Budget of N512B by FG for subsidy is the highest since the amalgamation of Nigeria in 1914. Dear @benmurraybruce It may interest you to know that even when oil prices were high as N100, we didn't have this big supplementary Budget

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by darecool(m): 10:23am On Dec 01, 2015
A government of saints, by the saint and for the saints.. grin grin a very funny country where the petroleum corporation does not charge subsidy but private marketers does.

1 Like

Re: National Assembly Increases Fuel Subsidy To N521bn by Nobody: 10:31am On Dec 01, 2015
gurunlocker:
This is definitely a scam, how won't jonathan pay subsidy fee from january to may?

This same money APC want to repay? i thought they also paid one subsidy fee when buhari first came into power.
I think it is high time you learnt how to make a complete sentence without GEJ's name. READ THE ARTICLE, THEY DID NOT SAY MAY OR JANUARY. THEY SAID OCTOBER THROUGH DECEMBER.
Criticisms are meant for readers not hearsay

1 Like 1 Share

Re: National Assembly Increases Fuel Subsidy To N521bn by TheGoodJoe(m): 10:31am On Dec 01, 2015
This revelation implied that the corporation has been withdrawing its subsidy claims from source without appropriation.


Bassey said: “What I was trying to clarify at the committee meeting is that we know from our own intelligence that the total subsidy today is about N950 billion. “But what the NNPC and Petroleum Products Pricing and Regulatory Agency (PPPRA) are reporting is the subsidy due to major oil marketers alone. “Major oil marketers import 52 per cent while NNPC imports 48 per cent.

So the subsidy that the NNPC is presenting, in our opinion, is subsidy due to oil majors only and we asked what is the subsidy due to the NNPC on the basis of their own importation of 48 per cent of the total fuel consumption in the country.
Re: National Assembly Increases Fuel Subsidy To N521bn by Nobody: 10:33am On Dec 01, 2015
TonyeBarcanista:
Nonsense! Why should we be paying over N800 billion a year to feed the marketers when they will end up selling the product at prices higher than the subsidised rate of N87 per liter? These men are defrauding Nigerians heavily. The open market price is N95-N100 per litre. Let's end the subsidy!



But why should Senate increase the money? What is their business? What is their interest that we don't know?
Bros. this is a government full of disgruntled beings

1 Like 1 Share

Re: National Assembly Increases Fuel Subsidy To N521bn by TheGoodJoe(m): 10:34am On Dec 01, 2015
The reason for the increase is simple, NNPC can no more deep their hands into the money gotten from the Sales of Crude Oil. So the money the NNPC used for their own importation Subsidy is now open and accounted for.
Re: National Assembly Increases Fuel Subsidy To N521bn by tivta(m): 10:35am On Dec 01, 2015
Omo, see billions oh...
Re: National Assembly Increases Fuel Subsidy To N521bn by kalusky02(m): 10:38am On Dec 01, 2015
Make sure the right amount is paid to the marketers to forestall any possible prank by them (marketers) to hold us to ransom.
Re: National Assembly Increases Fuel Subsidy To N521bn by HirstMOG(m): 10:42am On Dec 01, 2015
Taaaa, there's no subsidy.
Re: National Assembly Increases Fuel Subsidy To N521bn by viktor01(m): 10:43am On Dec 01, 2015
Where is Orubebe, please come and see.
Re: National Assembly Increases Fuel Subsidy To N521bn by banio: 10:45am On Dec 01, 2015
Buhari now knows the meaning of subsidy.

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