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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 (33954 Views)
Marketers Sell Petrol Above N145/L In 16 States (see the states) / Filling Stations In Awka Sell Petrol For N250 Per Litre / FG Ends Kerosene Subsidy, To Sell For N83 Per Litre (2) (3) (4)
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Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Nobody: 12:38pm On Dec 15, 2015 |
porka:the forces of supply and demand will force the price to as low as N50 and then scarcity of petroleum product will be thing of the past 1 Like |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by banio: 12:40pm On Dec 15, 2015 |
Useless govt |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by obstead200(m): 12:55pm On Dec 15, 2015 |
Flets:@the bolded, I tire for this scam called APC. How can u remove subsidy and at the same time seek to regulate price? I 100% support subsidy removal but this system they want to adopt is bullshit. As for the occupy 2012 rubbish, I hope the military will rise up to the occasion and crush any paid tout who will come out to protest against subsidy removal. FYI, "occupy nigeria" was a sinister campaign sponsored by fraudulent petrol importers that frustrate jonathan's effort to restore sanity to this nation by removing the insanity called subsidy. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Saao(m): 1:28pm On Dec 15, 2015 |
We will not accept it. Power tarriff increment and now PMS? We will fight it with all we got. I'm not a politician so what do I enjoy from govt? God purnish all of them |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Reference(m): 1:31pm On Dec 15, 2015 |
ourema: Its called eating your own dung but its long overdue. The things we see today takes most Nigerians months even years to realise. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by vickbaze: 1:34pm On Dec 15, 2015 |
Governor Adams Oshiomhole Stated His Reasons Of Removing Head of Service READ FULL ARTICLE AT SOURCE: Source:http://www.vickbaze.com/2015/12/15/governor-adams-oshiomhole-stated-his-reasons-of-removing-head-of-service/ |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Skmoda360(m): 1:34pm On Dec 15, 2015 |
Realdeals:what do you means by 'waste' or 'west'...fake human being. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by hopilo: 1:39pm On Dec 15, 2015 |
Standing5: Keep the blame game on |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by hopilo: 1:52pm On Dec 15, 2015 |
skidskid:GEJ said it January, PMB announced it 3 weeks to January, pls is this 3 weeks difference that made you object subsidy removal in 2012? |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by nezer83: 2:20pm On Dec 15, 2015 |
May we call on David-west to justify the move of his boss. I think we have a lot of problem in this country. Have we considered that not just the price of crude oil is involved here. Crude oil is a mixture having so many particles that do undergo refining We import this products and the Importers will have to pay for Freight, Customs taxes at both ends of the supply chain, then storage and offloading, plus profit margin. All the Logistics involved, and Nigeria as an importing country there is no way petrol will sell at N40 per litre. Truth is Take away subsidy and petrol will sell for roughly N120 per litre. In any case, Let Mr President apologies to Nigerians and the past government, then go ahead and remove the subsidy. The time to get ride of this economic monster is now. [b]There has been an ongoing national argument on the reality of the oil subsidy which some eminent Nigerians have refuted against. Former petroleum minister Prof Tam David West breaks down his analysis of the falsehood behind the fuel subsidy that has only enriched a few rich and selfish individuals in Nigeria. See insightful details. 1) One barrel of Crude oil = 42 gallons or 159 litres 2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day 3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day. 4) 133,500 barrels = 21.2 million litres 5) Local required consumption (F.O.S) = 12millions litres 6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum. 7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production; – Findings / development – $3.5 – Production cost – $1.5 – Refining Cost – $12.6 – Pipeline/transportation – $1.5 – Distr/bridging fund Margin -$15.69 True cost of one litre of petroleum anywhere in Nigeria; – Total sum cost = $34.8 – 1ltr cost = $34.8/159 litres = $0.219 – Naira equiv. 0.219xN160= N35.02k – Add Tax N5 + N35.02 = N40.02 9) Let FGN refute the above composition and if not, they should tell us how they came about N95/N85 litre. 10) Locally refined products cannot be sold at International price. 11) We really do not need FGN SUBSIDY as there was NONE in the first place. 12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION. Pls re-post until it gets to the right quarters for their response; We still stand a chance as a COUNTRY. Analysis by Professor Tam David West, former Petroleum Minister. [/b]http://nigeriana.org/135485.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Jetheights+%28Jobemy+Nigeria%29 |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by ORAFA(m): 2:27pm On Dec 15, 2015 |
Tmaritas76: $62 of cause!!! And GEJ, Dasuki, NOI, Deziani, Dokpesi, etc are with it. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by jakiedudu(m): 2:33pm On Dec 15, 2015 |
Flets:Exactly! It's a pity they were against the removal of subsidy in the paste and the same people are now supporting it's removal. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Nobody: 2:35pm On Dec 15, 2015 |
BLCO loaded cargo available ready for sale. 11/8$ .Marine ATB ready. Please contact ME ON 08127465565. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by 989900: 2:41pm On Dec 15, 2015 |
nezer83: 21.2 million litres of crude or refined products, is not equal to 21.2 million litres of PMS. However, 445,000 barrels of crude can give you between 22-28 million litres of PMS depending . . . That said, if we refine locally, with a little stronger Naira, N50/litre or less is quite doable! |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Alezy(m): 2:49pm On Dec 15, 2015 |
drnoel:wetin wan wake am?? that guy will be sleeping for 4 years. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by jakiedudu(m): 2:54pm On Dec 15, 2015 |
Kingy10:Now that PMB is planning to remove fuel subsidy, are the refineries working? Efforts to repair the refineries had been on since Obasanjo's tenure to no avail. GEJ knowing the real state of all the nations refineries new that nothing much will be achieved if he attempt to fix them, hence opted for Total Subsidy removal to allow market forces determine price of fuel, but was hindered by misinform Nigerians. If fuel subsidy was removed since 2012, Nigerians would have been enjoying a reduction of fuel pump price via falling international crude oil prices by now. Just yesterday internatioal crude oil price fell to all time low to $35 per barel. How many litres do you think makes up a barel of oil? Do the math, fuel price today would have hovered below N60 per litre. You can see from the admition of Kachikwu (whom himself made a case for all the refineries to be disposed through selling and was rejected by PMB) that the nations refineries are far from being fixed. These refineries are all obsolete. Fixing them will result in waste of funds. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by pimpo: 3:27pm On Dec 15, 2015 |
adegeye38:If the cost of the raw material changes, the cost of the finished product also changes. The cost of processing and transportation won't vary considerably. Hence, since there has been a 50-60% decrease in the crude price, there should at least a 30-40% reduction in the landing cost of PMS and this should have eliminated the subsidy FG has been paying. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by mandarin: 3:30pm On Dec 15, 2015 |
GEJ could not had removed subsidy considering the cost of a barrel of crude in the market as at the time. Even the enormous amount of income generated by the country from sales of oil are now been revealed as utter wastage, what a shame. To many of you that think Buhari should solve Nigeria's problem in 7months, how much does it take you to solve yopur corporate problem talk less of a whole nation, mschewww for you. If am on Buhari's advisory I will suggest the following: 1. Remove subsidy and immediately privatize all the refineries with MOU of six month in getting them to produce 2. Position NNPC as the sole importer for that 6months so that marketers do not undermine the process 3. Offer new licensing regime for small capacity(modular) refineries 4. Allow private pipeline companies to take their footings 5. Shelve the =N500billion for welfare for now and channel that to stimulating the economy through supporting of entrepreneurial growth, youths corp member empowerment and funding innovation aside budgeting for roads and housing infrastructures. 6. Reduce cost of governance by organizing a summit of key political stakeholders to commit to 50% cut on all allowances including the National and State Assemblies. 7. Intensify recovery of stolen funds by ALL MEANS necessary and prosecute offenders, this will go hand in hand with judiciary reforms. 8. Focus on reducing government borrowing. I will advise the sack of the CBN governor who looking at all the allegations of funds transfer from CBN is compromised and restrict importations of some goods to cut down unnnesary stress on the Naira 9. I will use the Charles Logan formula( see 24 hours serie) either get my job done or quit. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by swiffy(f): 3:38pm On Dec 15, 2015 |
This man is really confused,I can c hardship ahead. well may God c us through. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Hakagure: 3:45pm On Dec 15, 2015 |
Most Arab countries are doing this also. Kuwait just announced a similar move this month... It will relieve pressure on the naira also. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Kingy10: 4:44pm On Dec 15, 2015 |
jakiedudu:you said it all bro, but wasting money to build fix them would have been better than transporting to other countries u know?......so far it's functioning |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by Innomach(m): 6:53pm On Dec 15, 2015 |
Standing5: No sir, petroleum marketers do not buy the dollars from the parallel market but officially from CBN at N198 per dollar. |
Re: Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 by 4C2215131: 12:30pm On Dec 17, 2015 |
porka: Haba! You could have educated me without all the insinuated insults now? Well, maybe you are mistaking me with someone else with regards to Buhari. Why all the anger in your post. I am very non-partisan when it comes to politics, giving it to Jonathan, Buhari or whomever that deserves it (praises or criticism however misplaced my views may be as no man holds monopoly over knowledge). You made some valid points (arguable by the way) but, I refrain from engaging you further as from your retort to my post, I doubt if you will discuss without casting aspersions and throwing insults. So you win, greetings! |
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