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Nairaland Forum / Nairaland / General / Politics / Kachikwu: Subsidy Removal Will Not Affect Pump Price (22786 Views)
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Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by Edunwa302(m): 12:02pm On Dec 19, 2015 |
If this is realistic then ,I ask what have the government been subsidizing ? Since the total removal didn't affect the pump price |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by salissmg(m): 12:02pm On Dec 19, 2015 |
Freegift75:fayose over to you,is not wat ever u may heard from some of the govt allies N u begin to say robbish witout waitng for d last outcome. I always say u ar an educated illitrate no wonder obasanjo said u ar only satisfying ur type. Change shall manifest,u like it or not. |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by TheAdvocate(m): 12:05pm On Dec 19, 2015 |
Which of the pump prices now? The N150 per litre we are paying now or the official N97 that is not available? See his mouth as if they can even control any pump price at all... Mtcheeeew 1 Like |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by mokset123: 12:05pm On Dec 19, 2015 |
porka: I beg to differ. The last administration wasn't the first to see or observe the unsustainabillty of subsidy. They where the only ones bold enough to take all away. But at that time Nigerians didn't understand why government did such and hence the occupy nigeria took pace |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by ODUBEZE: 12:12pm On Dec 19, 2015 |
This story Kachikwu is selling is difficult to believe even with the fuel subsidy, Nigeria is still buying beyond the pump price! what will then happen when it is removed? |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by Lakeland4321: 12:54pm On Dec 19, 2015 |
mployer:The person that said so is not a 21st century oil expert, listen to this man and see genuine analysis and solution creation for us all to move forward. Do you think exxonmobil is happy to see him leave them? He is by far the most cerebral GMD NNPC as ever had, with God's help they will soon post a profit for the first time since inception! |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by Mathemagician1(m): 1:42pm On Dec 19, 2015 |
TonyeBarcanista: I think you need to apologise to nezer8 and learn to accept your mistakes when you didn't get it right. You can't even get your figures right. I know you think of yourself as a political analyst but I'm not so sure of your mathematical analysis. You political enthusiasts are too emotional to analyse problems especially when it doesn't favour your political view. Most of you still assume that the landing cost of petrol is N83/ltr which is very far from current realities. In 2012 the landing cost of Petrol was N104/ltr while the pump price was N65/ltr. That is, the Government pays a subsidy of N39 per/ltr which is approximately 38% of the cost. By mid-January 2015 the landing cost of Petrol was N86.10/ltr due to the drop in global oil price while pump price was selling at N97. The then Government was mandated to pay subsidy of only N0.90/ltr plus exchange differential of around N49/ltr simply because the Naira fell against the Dollar which the then minister of finance refused to pay because she felt businesses should bear some risk. Nigerians screamed to high heavens until the Govt reduced pump price to N87 and beared an extra N10 in subsidy payments. Oh, I bet you didn't factor in exchange rate differential in your analysis. The currency exchange differential is the cause of the scarcity and not hoarding or any marketer's trick. Subsidy payment on petrol is now around N1 trillion. Surprised? As of today, given the latest exchange rate, landing cost of Petrol should be around N103/litre, subsidy at N15 with an exchange rate differential of around N96. I can assure you that if subsidy is removed, you'll buy petrol for nothing less than N140 unless the Govt agrees to continue paying off the exchange differential which is another form of subsidy on its own... and it will only get worse as the Naira is set to devalue further. My projection is if subsidy on petrol is removed, by this time next year you'll be buying petrol for N170 and I'm only trying to be economical with figures here. So when next you start wondering why fuel price is increasing while there's a fall in global oil price, look at your exchange rate differential. Learn to own up to your mistake, your attack on the previous administration when he decided to scrap petrol subsidy was ill informed and I am sure you were an APC supporter then, that should have been the best time to remove the subsidy, not now when the Naira has fallen greatly. 2 Likes |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by tunene66: 1:46pm On Dec 19, 2015 |
freshvine: Well it appears we r saying different things. I am saying that the issue of subsidy for now and d nearest future will b virtually low or non existent using present official rate. Now if the official rate changes n the refineries are still not working then except the pump price of PMS is increased the subsidy issue will no doubt rear it's head |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by djkirkoo2(m): 1:50pm On Dec 19, 2015 |
Sibrah:New Lai Mohammed spotted 1 Like |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by henryutd(m): 2:21pm On Dec 19, 2015 |
At $36 pb pump price should be #86 per litre for PMS ask PMB. |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by 0taPiaPia(m): 2:38pm On Dec 19, 2015 |
first i don't like the Words "may or may not". 2. u haven't made mention of LNG as is it very crucial to handle short falls in kerosene production with respect to domestic use... thank you !! |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by petermichaels(m): 2:40pm On Dec 19, 2015 |
den no subsidy was done if it dnt. Get a lyf lie lie pple |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by rottennaija(m): 4:21pm On Dec 19, 2015 |
ideylaff: Well, I do not know what you are saying. But that's what I have noticed about the man |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by dragunov: 5:28pm On Dec 19, 2015 |
keally:GEJ is still an hero? A legend? With all the revelations flying around! Well you may be right. When it comes to mismanagement of funds he was a true LEGEND. 2 Likes |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by grandstar(m): 6:28pm On Dec 19, 2015 |
This is utter nonsense. The government is not serious.It should just free the price. There will still be a subsidy because the oil marketers will be buying the oil at the rate of 197 to a $1 which is a heavily subsidised rate |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by 989900: 7:16pm On Dec 19, 2015 |
keally: J U S T S H U T UP! |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by 989900: 7:23pm On Dec 19, 2015 |
henryutd: It should be less -- they know it. And Kachikwu is being elusive. How much has the gov't been paying as subsidy since September? At what crude prices? At $38/barrel, I doubt if there is any genuine subsidy payment payable if importers still get their dollars at CBN's rate. 1 Like |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by OpenHeaven2me(f): 7:26pm On Dec 19, 2015 |
Let's put all our hopes in God who is able to deliver us from the hand of the wicked ones |
Re: Kachikwu: Subsidy Removal Will Not Affect Pump Price by 9japatroit(m): 8:11pm On Dec 19, 2015 |
omenka:Sorry to burst your bubbles,you are still a big hypocrite!. |
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