koboko69:
So far, the the only reason so far given by the wailing wailers for not supporting the removal of subsidy is simply because "Tinubu" and "Fashola" were against it when Jonathan removed it. Most of these people were also amongst those who protested against the removal back then. But as it is today, its a game of looking for any opportunity to attack Buhari.

mynd44 and lalasticlala

koboko69:
Subsidy Removal under Jonathan;

Jonathans government announced the total removal of subsidy on Jan 1 2012.

The Facts;

1. Oil sold at 113 usd per barrel as at Dec 31st 2011

2. The exchane rate as at Dec 2011 was 1 usd to N 162.3

3. Jonathan's Predecessor actually dropped PMS price from N75 to N65 and was able to sustain subsidy whilst handling the amnesty program for repentant millitants till his early dismiss.

4. A more bouyant foreign reserve and growing ecomomy.

The government's major basis of total removal of subsidy was sighted as massive corruption. Rather than deal with the monster, the incompetence of the government was shifted to the masses. Many Nigerians were not ready to make the government have more money to loot, as subsidy was still sustainable at that time.

After the Occupy Nigieria protests, the price of PMS was revised to N97 per littre, with the promise of urban busses, building and rehabilitation of refineries e.t.c. It is interesting to note that the only partially successful programme after the subsidy removal was SURE-P because some Nigeirans benefitted from it without the "u must know someone" clause. Till the exit of Jonathan's government, we had no functional refineries, neither were new ones built.

Please note, Boko Haram was more like rag tag millitant as at the time of subsidy removal but later grew to a sophisticated, machine guns, tanks rolling millitant. So BH as an excuse is not tenable.

Subsidy removal under President Buhari.

1. Oil price selling below 40usd per barrel

2. Exchange rate of N197-N199 to a dollar and N320 to a dollar in the parallel market.

3. An ailing economy, with limited FOREX, and dwindling reserves.

The major reason for the total removal of subsidy by the current government is because of scarcity of Forex and an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the present government have been able to tackle corruption to a fault in the oil industry.

The oil Marketters have now been given the liberty to source forex from other sources to import fuel which is the major reason for the high price hike.

The current government have made moves which will see the price of PMS drop in the nearest future. For the first time in years we have the Warri, Kaduna, and Port Harcourt refineries working together but some misguided youths amd miscreants in the name of avengers have decided to keep sabotaging the efforts of the present government.
There are also moves on ground to build more refineries.

In my opinion, the deregulation of the lower stream sector is right on track at this time and I stand with Buhari on this.

For now i see no reason why this government should not be supported, as they still have more than 2 years to deliver. Should the government not meet up to expectations before next elections, then Nigerians can't take their anger to the polls.

God Bless Nigeria.

poiZon:



u guys r so hypocritical, senseless n to cap it a certified zombie. so umean after reading d op's article u still dont make meaning of it?

first in2012 when gej wanted removing fuel subsidy, price of crude was 110dollsper barrel, then the economy was booming, states were not struggling to pay salaries, price of commodity was cheap, alsothe intending price was 141 naira per litre. now fastforwardto 2016, oil price is 44 dolls per barrel, most states r struggling to pay salaries, economy is on downward slope, priceof good r on the high side, exchange rate at black mrket Is on thehigh side n the new pump price is 145nairaper litre. bros do u really understand what u read?
or u r justifying the zombiesm in u?

iykopy:
Anoda nonsense zombie posting baseless and disjointed epistle.

iykopy:
Anoda nonsense zombie posting baseless and disjointed epistle.

youngeagle:
The worst part is that GEJ raised minimum wage and NYSC allowance as a panacea to the suffering the subsidy might cause,but our dullardiho doesn't give a damn even with the worsening economic condition caused by the dollar hike and still most Nigerians that protested in 2012 finds it hard to even condemn this act...my Hero will live longer than his adversaries wished him.

koboko69:


All you guys have been ranting on this threas is Zombie blablabla....no sensible contribution so far.

pchukwudi:
[s][/s]

See, I don't know where you guys invent your economic theories from. But common sense tells me that neither deregulation nor devaluation will guarantee sufficient dollar supply.

The majority of dollars in circulation here comes from CBN through crude export proceeds. And fuel import is the largest consumer of this forex.

So when you deregulate you are simplly in effect skyrocketing the demand for dollars. And the anticipated foreign direct investments you hope to attract with devaluation is not going to come with speed. Folks are going to be way too sceptical to invest. Or how do you trust a govetnment that made hardcore forex policy reversals at least 3 solid times in less than 1 year?

Foreign investors are not fools. So they are likely to wait this out.

And if no FDI comes quickly in the midst of low oil prices and subsidy removal three things are likely to happen.

1. Naira will get weaker, and the gap between the official rate and the parallel market will become wider.

1. The external reserve until bleed untill nothing or little is left.

2. Say hello to another era of essential commodities where you cue for hours to buy fuel and everythig else.

This govt. and its supporters tho. God help us all.

koboko69:
So far, the the only reason so far given by the wailing wailers for not supporting the removal of subsidy is simply because "Tinubu" and "Fashola" were against it when Jonathan removed it. Most of these people were also amongst those who protested against the removal back then. But as it is today, its a game of looking for any opportunity to attack Buhari.

mynd44 and lalasticlala This government is a scam they have duped Nigerians and they will never know peace

OrlandoOwoh:
I've come to realize that GEJ/PDP supporters have not come up with any reason, whether plausible or otherwise, why the removal of subsidy, as they're wont to make us believe, is wrong. Their only objection is because when GEJ attempted it in 2012, it's resisted. Na wa for una o.

OrlandoOwoh:

Has Sure-P been able to account for the over 500 billion naira it claimed was realized from the partial remove of subsidy on fuel, that the Senate confronted it with? I don't Jonat with anything that involves money.

Standing5:
Your hero increase minimum wage and NYSC allowance but ended up borrowing to pay same salaries and allowances. It shows you GEJ was a bad leader and Buhari inherited a downward moving economy.

Geniro:
What nonsense is this zombie saying ?

koboko69:
Subsidy Removal under Jonathan;

Jonathans government announced the total removal of subsidy on Jan 1 2012.

The Facts;

1. Oil sold at 113 usd per barrel as at Dec 31st 2011

2. The exchane rate as at Dec 2011 was 1 usd to N 162.3

3. Jonathan's Predecessor actually dropped PMS price from N75 to N65 and was able to sustain subsidy whilst handling the amnesty program for repentant millitants till his early dismiss.

4. A more bouyant foreign reserve and growing ecomomy.

The government's major basis of total removal of subsidy was sighted as massive corruption. Rather than deal with the monster, the incompetence of the government was shifted to the masses. Many Nigerians were not ready to make the government have more money to loot, as subsidy was still sustainable at that time.

After the Occupy Nigieria protests, the price of PMS was revised to N97 per littre, with the promise of urban busses, building and rehabilitation of refineries e.t.c. It is interesting to note that the only partially successful programme after the subsidy removal was SURE-P because some Nigeirans benefitted from it without the "u must know someone" clause. Till the exit of Jonathan's government, we had no functional refineries, neither were new ones built.

Please note, Boko Haram was more like rag tag millitant as at the time of subsidy removal but later grew to a sophisticated, machine guns, tanks rolling millitant. So BH as an excuse is not tenable.

Subsidy removal under President Buhari.

1. Oil price selling below 40usd per barrel

2. Exchange rate of N197-N199 to a dollar and N320 to a dollar in the parallel market.

3. An ailing economy, with limited FOREX, and dwindling reserves.

The major reason for the total removal of subsidy by the current government is because of scarcity of Forex and an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the present government have been able to tackle corruption to a fault in the oil industry.

The oil Marketters have now been given the liberty to source forex from other sources to import fuel which is the major reason for the high price hike.

The current government have made moves which will see the price of PMS drop in the nearest future. For the first time in years we have the Warri, Kaduna, and Port Harcourt refineries working together but some misguided youths amd miscreants in the name of avengers have decided to keep sabotaging the efforts of the present government.
There are also moves on ground to build more refineries.

In my opinion, the deregulation of the lower stream sector is right on track at this time and I stand with Buhari on this.

For now i see no reason why this government should not be supported, as they still have more than 2 years to deliver. Should the government not meet up to expectations before next elections, then Nigerians can't take their anger to the polls.

God Bless Nigeria.

poiZon:



did buhari clarify how he expend over 300billion naira of ptf?

bros there isnothing like subsidy. crude cant sell below 40dolls n govt still pay subsidy. how much is fuel at international market?
let start with that.

koboko69:
Subsidy Removal under Jonathan;

Jonathans government announced the total removal of subsidy on Jan 1 2012.

The Facts;

1. Oil sold at 113 usd per barrel as at Dec 31st 2011

2. The exchane rate as at Dec 2011 was 1 usd to N 162.3

3. Jonathan's Predecessor actually dropped PMS price from N75 to N65 and was able to sustain subsidy whilst handling the amnesty program for repentant millitants till his early dismiss.

4. A more bouyant foreign reserve and growing ecomomy.

The government's major basis of total removal of subsidy was sighted as massive corruption. Rather than deal with the monster, the incompetence of the government was shifted to the masses. Many Nigerians were not ready to make the government have more money to loot, as subsidy was still sustainable at that time.

After the Occupy Nigieria protests, the price of PMS was revised to N97 per littre, with the promise of urban busses, building and rehabilitation of refineries e.t.c. It is interesting to note that the only partially successful programme after the subsidy removal was SURE-P because some Nigeirans benefitted from it without the "u must know someone" clause. Till the exit of Jonathan's government, we had no functional refineries, neither were new ones built.

Please note, Boko Haram was more like rag tag millitant as at the time of subsidy removal but later grew to a sophisticated, machine guns, tanks rolling millitant. So BH as an excuse is not tenable.

Subsidy removal under President Buhari.

1. Oil price selling below 40usd per barrel

2. Exchange rate of N197-N199 to a dollar and N320 to a dollar in the parallel market.

3. An ailing economy, with limited FOREX, and dwindling reserves.

The major reason for the total removal of subsidy by the current government is because of scarcity of Forex and an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the present government have been able to tackle corruption to a fault in the oil industry.

The oil Marketters have now been given the liberty to source forex from other sources to import fuel which is the major reason for the high price hike.

The current government have made moves which will see the price of PMS drop in the nearest future. For the first time in years we have the Warri, Kaduna, and Port Harcourt refineries working together but some misguided youths amd miscreants in the name of avengers have decided to keep sabotaging the efforts of the present government.
There are also moves on ground to build more refineries.

In my opinion, the deregulation of the lower stream sector is right on track at this time and I stand with Buhari on this.

For now i see no reason why this government should not be supported, as they still have more than 2 years to deliver. Should the government not meet up to expectations before next elections, then Nigerians can't take their anger to the polls.

God Bless Nigeria.

osita76:
This is government of deceit and lies Nigeria is now moving from bad to worse what we are witnessing is total collapse of the economy and now they want to foist hardship to the masses this government will never know peace

youngeagle:
keep on consoling your self

hausameat:
Can anyone tell me when was this zomby let loosed? Tell me any reasons why Buhari/apc was after GEJ's removal of subsidyother than to frustrate and force him out of government. Go and tell the most dumbest dunce Buhari that his incompetence is causing many companies to close down. His incompetence has caused untold hardship never experience since indenptendence.

Temidayo9:
and now did PMB now reverts d minimum wages and the increments even when intln oil price is below $45.?

OrlandoOwoh:
I've come to realize that GEJ/PDP supporters have not come up with any reason, whether plausible or otherwise, why the removal of subsidy, as they're wont to make us believe, is wrong. Their only objection is because when GEJ attempted it in 2012, it's resisted. Na wa for una o.

waziri4biz:

This op is an APC e-warrior
GEJ's time naira had more value true
price of crude was $113/barrel true
And GEJ wanted to save the money it was only GEJ that made fg savings a legal thing by making it pass 2ru NASS which is known as sovereign wealth account.
If u are not biased is it not when there is plenty that you save or is it when the economy is flirting with bankruptcy that you save.
The truth is that we are four years behind of this deregulation issue.
I don't know why nigerians will will still trust people who condemned deregulation when it was the best time because they wanted to be seen as the good guys at the polls then how they it is almost about the same price that the deregulation falls to.2012 the proposed/deregulation was N141/ltr it is when there is plenty that is the best time to save.Oh the perfect and corruption free Buhari's administration is the best team to deregulate.Stop being brain washed by a set of Idolized Hypocrites.

koboko69:
Jonathan increased minimum wage more than a month after partial subsidy removal while selling crude above 100usd. Why not wait for palliatives by this government b4 unleashing the wailing syndrome

poiZon:
I challenge d govt to come open with the new pump price, there was nothing like subsidy. u cant pay subsidy on fuel wen price of crude oil is 28dolls per barrel. let d govttell us the price of fuel at international market, how much is d cost of shipment n why r we paying tax on every litre of fuel consumed. why nupeng, tanker drivers charging us for every litre imported? the issue of inflated pump price is cos marketers r getting dollars from open market which is 320naira per dolls. nnpc isgetting at 199 per dolls. now the abokis n mallam that the marketers will go source for dolls where r they getting their dollars from? do they grow dolls?
cbn is still feeding these guys with dolls at inflated rate over the official rate.
everything balls down to bad policies n corruption.
buhari forex policy is killing the economy.
buhari is destroying nigeria, his policies r not working.

I challenge any thing that supports this rubbish from buhari to tellus where the marketers now will source for dollars, themallams that sell dollars where do they get their dollars from knowng well that cbn stopped transferring dolls to these guys.
dont forget the dollars we r talking of is above 100million dollars every time they want to import.

youngeagle:
The worst part is that GEJ raised minimum wage and NYSC allowance as a panacea to the suffering the subsidy might cause,but our dullardiho doesn't give a damn even with the worsening economic condition caused by the dollar hike and still most Nigerians that protested in 2012 finds it hard to even condemn this act...my Hero will live longer than his adversaries wished him.

Standing5:
Your hero increase minimum wage and NYSC allowance but ended up borrowing to pay same salaries and allowances. It shows you GEJ was a bad leader and Buhari inherited a downward moving economy.

oneolajire:



Lie, NYSC allowance was increased after 2011 general elections after the defenceless corpers were killed in the northern states.