porka:


You people base your hope too much on magic.

Check the PPPRA's website, even if all oil are refined in Nigeria the pump price would still be above 80 naira per litre.

Education is better than wishful thinking.

Flets:
And zombies would this half news swallow hook, line and sinker.

How exactly would this govt predict prices after subsidy removal? Only the market forces will determine prices. The cabals who own the tank farms will continue to call the shots.

I hope the same sponsors and participants of Occupy 2012 will be on hand to repeat same. The height of hypocrisy is this geographical space called Nigeria is highly shameful.

ourema:
Hypocrisy is when you remove something you never believed believed to have existed.

Hypocrisy is when you shouted! Crucify GEJ! When he removed fuel subsidy the but hail PMB
for the intention to remove it

Realdeals:
Waste should be reduced by all means, if power supply is stable the noise over fuel prices will not be there.

Standing5:
A dwindling Naira value has pushed fuel prices up in local market. Imagine the diff when 1$ changed for N165 and N260 that's some 35% increase as against some ~40% decrease intl oil prices. PDP really fùcked things up.
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to the guy below, Subsidy didn't exhist technically. Buhari never meant subsidy isn't in existence. It wasn't logical to carry on with it. Marketters were stealing from it and the same govt who put the marketers into relevance couldn't manage their excesses. Buhari was right.

skidskid:


IGNORANCE is when you analyse something only at face value without @least getting some facts. DONT just try to think before you type ... try to GOOGLE what you think of typing .

in 2011 oil peaked at $100 pb. and on January 1 2012 GEJ New year msg was to tell us he was removing subsidy to reinvest in other sectors. btw 2012 n 2015 you tell me what impact sure-p has had in your life or someone. you know

this is 205 oil has dropped below $40 pb. the nation doesn't want to over borrow and become slaves to the white man this the primary aim is to generate income and reduce expenses. this it's a SOLID. reason to scrap subsidy.

Jonah's reason back then was to stop cabals and there was a probe , what has changed since then? be for jona left there was no fuel to the extent telecoms and banks were about to cut their business hours just to tell you in 6 Years GEJ has yet to stop our economy from being run by generating sets . lmao

better put hands on deck and do ur quota to help the country through this period by hustling hard , paying your taxes and ensuring every. politician is accountable instead of still deluding yourself that the past govt cared about us. *motherfckers never loved us!!!( (in drakes voice )

Tmaritas76:
2015-$100/barrel,2016-$38/barrel where is the change.

Flets:
And zombies would this half news swallow hook, line and sinker.

How exactly would this govt predict prices after subsidy removal? Only the market forces will determine prices. The cabals who own the tank farms will continue to call the shots.

I hope the same sponsors and participants of Occupy 2012 will be on hand to repeat same. The height of hypocrisy is this geographical space called Nigeria is highly shameful.

nezer83:
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.

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) [b]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

drnoel:
Looks like the sleeping president has finally woke

Kingy10:
.i don't still understand how u guys use ur brain to reason, when ur in politics
2012 January 1, gej increased removed subsidy, a liter was sold for N140, before it was reduced to 97, the aim of removing it was to build a refinery in Nigeria, yet throughout the 3 yrs+ gej used, we didn't see any sign of refinery
pls, tell me how u reason, i don't still understand your stupid comment
People like u that supports GEJ even after his downfall, it seems ur in a way connected to the money embezzled during gej's regime

adegeye38:

it wont because we are not refining the oil that we use we are importing it, i mean buying it , that where the issue of subsidy came in place

jakiedudu:
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.

Standing5:
A dwindling Naira value has pushed fuel prices up in local market. Imagine the diff when 1$ changed for N165 and N260 that's some 35% increase as against some ~40% decrease intl oil prices. PDP really fùcked things up.
| | |
¤¤¤
to the guy below, Subsidy didn't exhist technically. Buhari never meant subsidy isn't in existence. It wasn't logical to carry on with it. Marketters were stealing from it and the same govt who put the marketers into relevance couldn't manage their excesses. Buhari was right.

porka:


Every time you armchair analysts do your mumbo jumbo analyses you end up looking pathetic.

You have been making conjectures since Buhari came in and then end up going offline every time yet you won't stop.

Crude oil is not selling at an all time low price. It's selling at $36-$38 per barrel currently and those are not all time low prices in any way. Crude oil once sold for $8 per barrel during Shagari's administration.

'Ideally' does not explain the economics of fuel pump price. PPPRA's calculations are different from your own 'ideally' conjecture.

And if Buhari's government knows that fuel price should be below N87 it would have reduced it long ago. Buhari would have been the first person to announce it to the world.

Why are you people too eager to deceive yourselves? Even what Buhari is not thinking about, you will attribute to him. Is that not foolishness?