wow

OZAOEKPE:

SAVING MONEY AND YET THEY INCREASED ELECTRICITY TARRIFS. WHO THEM THEY SAVE THE MONEY FOR?

Electricity is now private business


What have they done with the savings or what do they plan to do with it? That's the most important question.

Wrong topic.

We, the 200 million mumu citizens of the geographical space called Nigeria, are now PAYING our government subsidy.
Yes, negative subsidy.
In doubt?
Ask Alhaji Babatunde Raji Fashola and Prof. Tam David-West.
QED!!!



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Why is such money not reflecting on peoples in d country.

emerged01:
No time! We need projects on ground!

Ambode I hail! I see you. Thanks for lighting up my area

Yes Ambode is really trying I appreciate him

Caseless:
I wonder what would have become of Nigeria if that hat-capped and ineffectual-B had continued as our president. Corruption associated with subsidy is monumental!



Jonathan for kuje prison!

actually the saving would still have been made even if Jonathan was still in government. Buhari did not remove subsidy, Oil prices fell to a level where we don#t have to pay subsidies. I'm very much in pro Buhari and against everything Jonathan stands for but Buhari can't claim credit for what he did not do, just as you can't blame him for the mess he inherited..but .he hasn't removed subsidies, there is just no need to subsidize at current Oil price levels. Wait till he stops importation of fuel then give him credit because the majority of our forex drain is spent on importing fuel.

Subsidy is fraud. Some people were saying there will be scarcity of fuel. Since January this year, petroleum product is stable in the country. Kudos to Buhari.

All these savings and recovery no dey show oh. Na only on the internet/media we dey see am. Still waiting when I go see it's effect on the masses

Subsidy 'removal' when oil sells below $30 in the international market. APC manipulating the gullible with claims of savings from 'subsidy removal' when fuel should be selling at below N50 by now going by current oil price

klassicview:
hypocrisy is when u protest in Lagos and Kano over fuel subsidy removal under GEJ and don't under PMB.

ignorance is when you don't know that subsidies have not been "removed"

What I dont get is whether this is money we are actually getting or just money we didnt spend. Cos if its the latter, it doesnt necessarily mean FG is now rich

Propaganda, was subsidy in the budget? If it wasn't how are we saving the money, how much was allocated for subsidy payment in the budget? Only ignorant zombies will fall for this scam

blackpanda:
What I dont get is whether this is money we are actually getting or just money we didnt spend. Cos if its the latter, it doesnt necessarily mean FG is now rich

it's money we don't have to spend (for now so long as Oil prices remain low) but the "gain" is offset by the fact that this same Oil is our main revenue earner so while we "gain" because we dont have to pay subsidies, we lose much more from the lower price of crude.

Baawaa:
The different is clear

difference bro

lookandlaff:


actually the saving would still have been made even if Jonathan was still in government. Buhari did not remove subsidy, Oil prices fell to a level where we don#t have to pay subsidies. I'm very much in pro Buhari and against everything Jonathan stands for but Buhari can't claim credit for what he did not do, just as you can't blame him for the mess he inherited..but .he hasn't removed subsidies, there is just no need to subsidize at current Oil price levels. Wait till he stops importation of fuel then give him credit.

my God! This is wrong. There was room for BUHARI to include expenses for subsidy in the MTEF he submitted , but he refused, rather, he opted to pay for the 430 billion he inherited from Jonathan and failure to pay that money on time led to the fuel scarcity late last year to early this year. In their projection for year 2016, the reduced the pump price by #0.5 but said " the price will be regulated based on the market price". What you should note is, crude sold less than #40 before Jonathan left office, did he reduce the pump price? And we were paying subsidies for a commodity that has fallen in price at the international market under Gej , no reduction in pump price and you think BUHARI does not deserve the credit? I'm disappointed.

Caseless:
'children of hate aka wailers, what say you?'

Ahah guy you funny let me ask from what country try did they import from Kuwait has the cheapest overhead cost for getting oil off the ground so I asked is this a cheap ploy to obtain a cheap political point? ?

[size=20pt]total lie

lie lie govt[/size]

Caseless:
my God! This is wrong. There was room for BUHARI to include expenses for subsidy in the MTEF he submitted , but he refused, rather, he opted to pay for the 430 billion he inherited from Jonathan and failure to pay that money on time led to the fuel scarcity late last year to early this year. In their projection for year 2016, the reduced the pump price by #0.5 but said " the price will be regulated based on the market price". What you should note is, crude sold less than #40 before Jonathan left office, did he reduce the pump price? And we were paying subsidies for a commodity that has fallen in price at the international market under Gej , no reduction in pump price and you think BUHARI does not deserve the credit? I'm disappointed.

when you go to school, call yourself educated, read an article where it expressly inferred that subsidies have not been removed but you still argue otherwise, why are we such educated illiterates? we go to school to learn facts but not to learn how to think.


did you not see this part in the article?

"the over recoveries from both PMS and HHK would be saved by the government and used to fund future subsidies if the need arose."


1. why would you be funding future subsidies if subsidies have been removed?

2. did you see any official announcement from the govt that they have abolished the subsidy regime?

3.) Did you read anywhere that the market has been deregulated?

4) So how can you remove subsidies when price is regulated what happens when the cost rises above the regulated price?

klassicview:
hypocrisy is when u protest in Lagos and Kano over fuel subsidy removal under GEJ and don't under PMB.

. Don't mind them, they should rather tell us what they used those money for rather than what they're claiming to have saved, liars

They save ooo or they pay, how does it translate to any tangible growth in our economy?? #point us to a simply economic direction and we will find our own way period.

Hmmm

Caseless:
'children of hate aka wailers, what say you?'

. Mumu, u thinks most monies u see on nairaland news are real, if they're like they're reporting they should rather channel them to important things we can see nd not coming on a social media to be spreading false info

Saving while borrowing? I don't get it. How much were they spending on subsidy before the removal on weekly basis? There is God o.

The market is still being regulated but we buy above international market price, so government makes money. Subsidy is only paid when the local market price is above international oil price. As long as you have regulated market with fixed prices, subsidy cannot be said to have been removed. When we return to era of high crude oil price, government will pay subsidy again. For now let them save for the 'raining days' ahead.

tete7000:
The market is still being regulated but we buy above international market price, so government makes money. Subsidy is only paid when the local market price is above international oil price. As long as you have regulated market with fixed prices, subsidy cannot be said to have been removed. When we return to era of high crude oil price, government will pay subsidy again. For now let them save for the 'raining days' ahead.

Thank God for you, so long as there are still people like you who can think and understand, hope is not lost for this country

Now I know we hv a Government

lookandlaff:


it's money we don't have to spend (for now so long as Oil prices remain low) but the "gain" is offset by the fact that this same Oil is our main revenue earner so while we "gain" because we dont have to pay subsidies, we lose much more from the lower price of crude.

So in other words the loss cancel the gain and we are back to square 1 Hmmm

lookandlaff:


when you go to school, call yourself educated, read an article where it expressly tells you subsidies have not been removed but you still argue otherwise, why are we such educated illiterates?


did you not see this part in the article?

"the over recoveries from both PMS and HHK would be saved by the government and used to fund future subsidies if the need arose."


1. why would you be funding future subsidies if subsidies have been removed?

2. did you see any official announcement from the govt that they have abolished the subsidy regime?

if you are not an educated illiterate yourself, why didn't you see the "if" clause in the statement you quoted? There's a condition now; "if" the need arose . It goes to tell you what they would do with the saving , maybe fund the subsidy if or when the need arises.

If the subsidy is existing now, why do we have to wait for the "future" or when the need arises to pay for it? Haba!

Buhari never believed in subsidy because of the fraud associated with it, and like he always say: "who's subsidizing who?" . So don't expect him to come out and say it has been removed "officially".


Please, check the budget, the fraudulent provision that is always made for subsidies is not there. isn't that enough statement to show its removal?


Subsidy has been removed, and replaced with a better framework . nnpc is now involved in importation of the products; this they store in private depot or tank-farm for onward distribution to filling stations across the country. This is how they tackled the last scarcity. This has helped and also saved us from those marketers who always claim they import to Nigeria, sell it somewhere in Africa and come back to FG to collect subsidy payment.

blackpanda:


So in other words the loss cancel the gain and we are back to square 1 Hmmm

Perhaps I should have said the gain is "more than offset"

Caseless:
I wonder what would have become of Nigeria if that hat-capped and ineffectual-B had continued as our president. Corruption associated with subsidy is monumental!



Jonathan for kuje prison!

Nigerians are too gullible! Subsidy hasn't been removed from pms. They shd stop the lie! If subsidy is removed the price would be above N100. Think

berrystunn:
[size=20pt]total lie

lie lie govt[/size]

you are very correct. It is surcharge that is there. FG hasn't removed subsidy. The price of crude has come down, we are the one paying Fg subsidy now. If the price of crude goes up now, Nigerians would see the LIE!

Caseless:
if you are not an educated illiterate yourself, why didn't you see the "if" clause in the statement you quoted? There's a condition now; "if" the need arose . It goes to tell you what they would do with the saving , maybe fund the subsidy if or when the need arises.

If the subsidy is existing now, why do we have to wait for the "future" or when the need arises to pay for it? Haba!

Buhari never believed in subsidy because of the fraud associated with it, and like he always say: "who's subsidizing who?" . So don't expect him to come out and say it has been removed "officially".


Please, check the budget, the fraudulent provision that is always made for subsidies is not there. isn't that enough statement to show its removal?


Subsidy has been removed, and replaced with a better framework . nnpc is now involved in importation of the products; this they store in private depot or tank-farm for onward distribution to filling stations across the country. This is how they tackled the last scarcity. This has helped and also saved us from those marketers who always claim they import to Nigeria, sell it somewhere in Africa and come back to FG to collect subsidy payment.

you clearly are not able to follow logic, the "if" exists because a subsidy regime is still in place, that you are not paying now doesn't mean it no longer exists. If you had abolished subsidies there would be no if, why are we so dull?

Do you understand what a regulated market is?


on your point aboout budget, the budget is based on $38 a barrel, at that level there is no need to subsidize fuel so why make provision in the budget when you don't anticipate a need for subsidies? That you don't make provision because you feel there wont be a need doesn't mean you have abolished subsidies.


Put it this way, you pay your child'd school fees, government now says we education is your child's school is free. Because there are no more school fees, when you plan your expenses you dont allocate money for school fees. But all of this does not mean you have decided to stop paying for your child's school fees. The day govt starts charging for school fees again you will make provision for school fees.

You saying govt has removed subsidies because it currently has no need to pay subsidies is like saying a mana has said he is no longer going to pay his child' school fees simply because for now there are no fees to pay.