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Kachikwu: Subsidy Removal Will Not Affect Pump Price - Politics (4) - Nairaland

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Ekweremadu’s Removal Will Divide Nigeria – Archbishop Chukwuma Cautions Buhari / Kachikwu: Subsidy Removal To Save N16.4bn Monthly For Govt / Tinubu To Jonathan In 2012: Subsidy Removal Will Bring Hardship On The People (2) (3) (4)

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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:
https://www.thecable.ng/subsidy-removal-may-not-affect-petrol-pump-price

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:


It's a sign of immaturity not to admit you made a mistake.

It's only a child that would continue to attempt to cover obvious falsehood with more lies.

You didn't oppose the last administration on subsidy removal because of anything but a combination ignorance, programmed thinking, and perhaps hatred.

Many of you people said then that there was no subsidy at all. While many others said it was your entitlement. Arguing that Nigeria is rich to subsidize petrol, you brought several figures of petrol pump prices from other jurisdictions to justify your entitlement tales. That was when we 'knew' how much petrol is/was sold in Iran, Venezuela, Gabon, Angola etc.

The last administration was the first to identify the unsustainability of petrol subsidy. It was the first to identify those who abused it an charged them to court.

It appointed Kolade the chair of SURE-P who did his bits and resigned based on his AGE (he said at 80 years he was done with public service).

Kolade subsequently nominated Martin Luther Agwai to Jonathan as his replacement.

Again, it's childish to attempt to cover lies with further lies. Ultimately, most lies are uncovered sooner or later.

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:


Which government are you trusting? This hypocritical government that said it doesn't know what subsidy is?

Keep getting brainwashed.
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:
Oh STFU sir!

In 2012 I opposed the subsidy removal but I'm a strong advocate of removal now. Why?

In 2012, the subsidy payment was N78 per litre, while the masses paid N65 per litre. Removing subsidy means the masses were to bear the extra load of 78 naira per litre in addition to the N65. That's hardship.... Beside, there was no paliative.

But now, the open market of pms is around N95 per litre. Meaning, government only pay N8 per litre as subsidy. Removing subsidy won't make any difference on the masses.


Hence, Subsidy Must Go!



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:


You're not versed in international economics. Nigeria is a monolithic economy and our dependence on oil is the bane for our underdevelopment.

In the international market, oil is our comparative advantage and when there's a sharp drop in price, Nigeria government will devalue the naira to cushion deficit at the expense of its citizenry.

Practically, as oil drops, government will devalue naira making you pay same amount you paid when they'd subsidized.

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:
3 days ago. I still boughtt fuel at N87 3 days ago.
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:


Yes he his but don't be fooled he was handed over to Buhari buy the cabal of the old (Danjuma and IBB)

He's a chop man but an intelligent chop man who will have equity in the industry.

Our oil and gas industry will always have a grey area.

People who have worked with Kachukwu say he's half decent ethics wise nothing more or holy pass

Kachukwu is purely Danjumas contribution to Buharis government .

Danjuma was completely frozen out on a few things by Deziani and he decided he needs to hold down Petroleum when Buhari comes in.

He's probably the biggest donor to Buharis campaign.


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:
. You've said it all, you are great hypocrite and a super-self-deceiver. You only opposed GEJ of your myopic reasoning. All of you should eat the humble pie and not be ashamed to do so. GEJ is a living legend. He is the first person in over 25years of subsidy payment that stopped the payment but for brainwashed mugus like you blinded by killer-hatred. You are still covering the truth not knowing that it is an impossibility. Your co-conspirators that rocked the ship of GEJ's administration are already confessing about GEJ's UNEQUALLED achievement in virtually all sectors of the nation's economy but until they confess that they devilishly and demonically deceived Nigerians they would remain under the fierce and intense judgement of God. For people like you still revelling in self-delusion, pray you don't get so frustrated and disappointed by your messiah PMB to the point of taking your own life. The pit you dug for GEJ will swallow you all up while GEJ keeps flying to higher heights and levels of accomplishments and achievements.
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:
. [s]You've said it all, you are great hypocrite and a super-self-deceiver. You only opposed GEJ of your myopic reasoning. All of you should eat the humble pie and not be ashamed to do so. GEJ is a living legend. He is the first person in over 25years of subsidy payment that stopped the payment but for brainwashed mugus like you blinded by killer-hatred. You are still covering the truth not knowing that it is an impossibility. Your co-conspirators that rocked the ship of GEJ's administration are already confessing about GEJ's UNEQUALLED achievement in virtually all sectors of the nation's economy but until they confess that they devilishly and demonically deceived Nigerians they would remain under the fierce and intense judgement of God. For people like you still revelling in self-delusion, pray you don't get so frustrated and disappointed by your messiah PMB to the point of taking your own life. The pit you dug for GEJ will swallow you all up while GEJ keeps flying to higher heights and levels of accomplishments and achievements. [/s]

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:
At $36 pb pump price should be #86 per litre for PMS ask PMB.

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:
There's no gainsaying there's gonna be a severe slash in subsidy payments in the forthcoming year given the whispers about the policy in government circles.

Given the state of our financial fortunes at the moment, it is absolutely imperative that the policy be done away with and the monies saved from so doing channeled into the development of critical infrastructure to stimulate the economic growth and development we all yearn for.

With just a few nairas that was saved from subsidy removal some years ago, we all saw what Baba did with PTF. The projects, most of which are still visible to this day due to their quality, bear testament to Baba's prudence and sincerity when it comes to usage of funds.

I believe he can do it again if given the chance.

I know some folks would wanna call me a hypocrite for being supportive of this when I stood firmly against it in the last admin. Let me state for the record and for the last time, most of us who did did so because of the sleaze that was the hallmark of Jonathan's admin. We knew nothing good would come out of it and indeed we were proven right by the revelations made by Christopher Kolade, the guy appointed to manage the funds saved from the partial removal: SURE-p was a humongous scam.

It shall be well with Nigeria.
Sorry to burst your bubbles,you are still a big hypocrite!.

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