Jonathan insists on fuel subsidy removal ON MARCH 20, 2013 12:05 AM

YINKA KOLAWOLE & GODWIN ORITSE

LAGOS — President Goodluck Jonathan, yesterday, in Lagos, unveiled a platform of economic development for the country that must be predicated on full removal of fuel subsidy.


Speaking at the Nigeria Summit 2013 organised by The Economist with the theme Enabling and Implementing Change, Jonathan said the fuel subsidy just have to be removed, but after discussing with the public about the easiest way to do it. He said: “We cannot continue to waste resources meant for a greater number of Nigerians to subsidise the affluent middle class, who are the main beneficiaries.”

It would be recalled that attempt by the Federal Government to remove the fuel subsidy on January 1, 2012 led to widespread protests in the country, forcing the government to partially reinstate the subsidy with fuel price set at N97 per liter from N65, prompting an increase in last year’s budget by N161 billion to accommodate the subsidy.

Read more at: http://www.vanguardngr.com/2013/03/jonathan-insists-on-fuel-subsidy-removal/

Nigerian President Seeks to Cut Fuel Subsidies After Oil Decline

Yinka Ibukun

November 20, 2014 — 8:57 AM WAT


Nigerian President Goodluck Jonathan proposed to cut fuel subsidies in half in a bid to reduce spending after a retreat in global crude prices.
The government of Africa’s biggest oil producer plans to reduce fuel subsidies next year to 458.6 billion naira ($2.6 billion) from 971.1 billion naira, Senate President David Mark, said yesterday in the capital, Abuja, citing a revised 2015 Medium Term Expenditure Framework and Fiscal Strategy Paper submitted by Jonathan.


Jonathan’s last attempt to scrap the subsidy in January 2012 sparked a week of strikes and protests, forcing the government to partially reinstate it. Unions and activists opposed the subsidy’s removal and said the government should fix its poorly maintained refineries and tackle corruption before raising costs for Nigerians.

http://www.bloomberg.com/news/articles/2014-11-20/nigerian-president-seeks-to-cut-fuel-subsidies-after-oil-decline

Nigeria’s 36 states insist on removal of fuel subsidy

The 36 states of the federation on Tuesday declared that there was no going back on their demand for the Federal Government to put a stop to the removal of subsidy on petroleum products in the country.

On the proposed removal of fuel subsidy, the Chairman, Finance Commissioners Forum, Timothy Odaah, said the forum had extensive discussion on it.

Likewise, the issue of subsidy removal came up again and we still stand on the removal of fuel subsidy, because it will be of much greater benefit to the states. The intention of the Federal Government is being defeated by its abuse by some people,” he said.

He said states were determined to ensure that the demand for total removal of fuel subsidy was pursued to its logical end, as the fuel subsidy regime as currently operated has been a fraud.


“The issue of subsidy removal re-echoed today and it became an issue of discussion and the report of the committee set up three months ago is being awaited and we still stand on the removal of subsidy as it will be of much benefit to the states because what we have now is like robbing Peter to pay Paul.

“The purpose by which government set up subsidy is being defeated and so it should be based on consumption”, Mr. Odaah added.


“The issue of subsidy removal re-echoed today and it became an issue of discussion and the report of the committee set up three months ago is being awaited and we still stand on the removal of subsidy as it will be of much benefit to the states because what we have now is like robbing Peter to pay Paul.
“The purpose by which government set up subsidy is being defeated and so it should be based on consumption”, Mr. Odaah added.

davodyguy:
We were buying fuel at the rae of N65 per litre in December, 2011 and by 3rd week in January, 2012 we started buying at the rate of N97 per litre. This amounts to savings of N32 on every litre. Can we ask Jonathan, Diezani and NOI what they did with our N32 per litre from Jan, 2012 to February, 2015?

Nothing to show. Even SURE-P was a fraud. We knew this and that was why we occupied Nigeria.

In 2016, we are not going to occupy any where. We would only trust buhari to give us

1) Improved economy
2) Security
3) Electricity
4) Good Roads
5) Improved infrastructures
6) Improved well being of Nigerians

If he fails us, by 2019, we would sweep him out like we swept out GEJ

swagaholic:
Must u include jonathan Buhari made a decision nd ure telling us jonathan would have made same decision, why did u guys protest in 2012 when he did it Has jonathan even 4 1ce criticized these government? Y not let the man 2 rest??

davodyguy:


Yes.

Read.

It means even if it was Remi Shonaiya or Nihu Ribadu that's the president, Subsidy on PMS would still have been removed

davodyguy:


Yes.

Read.

It means even if it was Remi Shonaiya or Nihu Ribadu that's the president, Subsidy on PMS would still have been removed

iykopy:
Zombies running helter skelter looking for means to defend a draconian fuel subsidy removal @ a time when 70% Nigerians are economically down. This is just annoying.

davodyguy:
We were buying fuel at the rate of N65 per litre in December, 2011 and by 3rd week in January, 2012 we started buying at the rate of N97 per litre. This amounts to savings of N32 on every litre. Can we ask Jonathan, Diezani and NOI what they did with our N32 per litre from Jan, 2012 to February, 2015?

Nothing to show. Even SURE-P was a fraud. We knew this and that was why we occupied Nigeria.

In 2016, we are not going to occupy any where. We would only trust buhari to give us

1) Improved economy
2) Security
3) Electricity
4) Good Roads
5) Improved infrastructures
6) Improved well being of Nigerians

If he fails us, by 2019, we would sweep him out like we swept out GEJ

davodyguy:


Tell us the logical reason why we should continue to subsidize. If you have none, then shut up

iykopy:


Now u want a logical reason even though ur lord was @ the forefront saying subsidy doesnt exist. Dip ur face in sh1t demanding for logical reason.

davodyguy:
We were buying fuel at the rate of N65 per litre in December, 2011 and by 3rd week in January, 2012 we started buying at the rate of N97 per litre. This amounts to savings of N32 on every litre. Can we ask Jonathan, Diezani and NOI what they did with our N32 per litre from Jan, 2012 to February, 2015?

Nothing to show. Even SURE-P was a fraud. We knew this and that was why we occupied Nigeria.

In 2016, we are not going to occupy any where. We would only trust buhari to give us

1) Improved economy
2) Security
3) Electricity
4) Good Roads
5) Improved infrastructures
6) Improved well being of Nigerians

If he fails us, by 2019, we would sweep him out like we swept out GEJ

davodyguy:


Your rhetoric is so senseless. Ive given you reasons why we didn't support in 2012 and why we will support now.

Get a thinking cap young man

Under GEJ in 2012 price of barrel of crude oil was about $100 and the daily crude oil export was about 2,000,000 barrels per day.

Under Buhari, price of barrel of crude oil is about $47 and the daily crude oil export was about 1,100,000 barrels per day.

Please honest Nigerians, where do you want Buhari and Kachukwu to get money to pay for subsidy? Please tell me.

simple arithmetic tells you $100 X 2,000,000 barrels = $200,000,000 per day 2012 under GEJ
$47 X 1,100,000 barrels = $51,700,000 per day 2016 under Buhari


Tell us what GEJ did with that surplus from 2012 to 2014 at least

HIGHESTPOPORI:
I thought they said d Benin Ore road was done with Sure P? So why are u stil lying that SureP was a fraud? What has Buhari done for d one year he is in power for we to trust him?

davodyguy:


Your rhetoric is so senseless. Ive given you reasons why we didn't support in 2012 and why we will support now.

Get a thinking cap young man

Under GEJ in 2012 price of barrel of crude oil was about $100 and the daily crude oil export was about 2,000,000 barrels per day.

Under Buhari, price of barrel of crude oil is about $47 and the daily crude oil export was about 1,100,000 barrels per day.

Please honest Nigerians, where do you want Buhari and Kachukwu to get money to pay for subsidy? Please tell me.

simple arithmetic tells you $100 X 2,000,000 barrels = $200,000,000 per day 2012 under GEJ
$47 X 1,100,000 barrels = $51,700,000 per day 2016 under Buhari


Tell us what GEJ did with that surplus from 2012 to 2014 at least

iykopy:



Stop posting trashes all over and again. Weren't u told subsidy never exist by the same cabal u are applauding now for same action? Well, if u had forgotten, i havent. Now swerve u 'Zombified' being.

davodyguy:


Yes.

Read.

It means even if it was Remi Shonaiya or Nihu Ribadu that's the president, Subsidy on PMS would still have been removed