MurderX:
There is a difference between removal of fuel subsidy and price hike. FG did not hike price it only removed subsidy, we should expect that the forces of demand and supply will eventually stabilize the price.

nooo, if they remove subsidy it should be around 99 naira using the official exchange rate. The 145 is arrived at when 298 naira was used as the exchange rate by kachikwu. So for NNPC to use 298 naira is a fraud because they get their forex at 199 from CBN and NNPC too want to be selling at 145 too. Nigerians will be paying 46 naira extra to the federal government anytime we purchase Fuel @ 145 naira at NNPC filling station. So you see that it's fuel price hike to generate money for Federal government.

Kineticist:
Some people are in the habit of spewing far fetched news. What has fuel hike got to do with State Govs..

try to read and research before making comments

kutchs:



http://www.dailytrust.com.ng/news/general/kachikwu-governors-forced-buhari-to-hike-fuel-price--fg-official/146750.html#sea4Uq7VXjwMq2Mp.99

I remember den wen subsidy was removed and pple were sing dat GEJ is a drunkard, jst hope dat PMB has not taken to drinking as well.
unease is d head dat wears d cap.
God bless me
god bless GEJ
god bless Nigeria

DropShot:
Irrespective of whatever went behind our backs, it was the right decision. And for the president to have succumbed, it means he was convinced. I trust him that much because I know he's not an IB.

The next thing is to provide palliatives and increase minimum wage to at least 40k.

How do you want him to increase minimum wage when your foreign earnings are depleting, how are you sure if you provide this so called 15bn excess from subsidy to this state governors it would be used to even pay outstanding salary

Very true too oo

Checked86:
not just President, he is also the Minister of Petroleum. Kachukwu is only the minister of state for petroleum.

As expected, the blames most be shifted to the dogs to MAKE PMB A SCENT.

STFUand4kMeHARD:
@ Gun Point

.
. Guess cow point

Buhari always looking for a way to shift blame to others.

Definitly not his decision, so also every bad one this past year, his govt has taken. In Buhari govt the bulk does not stop at his table, sombody has to be blamed, just like the padded budget. Yes buhari was forced to remove subsidy thank you.

Every thing Una go find way to remove Buhari from shame. Buhari na president of Nigeria oooooo

llook closely and you will agree

kutchs:


Even some oil producing states like Bayelsa are affected,” he said.
He added: “With the drastic reduction in the foreign earnings in April, what would be shared at the next FAAC is expected to be the least ever, when the meagre $550m oil earnings are converted to Naira. The sharp reduction in government revenue particularly from oil earnings due to low price regime in the international market has been exacerbated by domestic factors such as recent sabotage by disgruntled and faceless militants in the Niger Delta”.


http://www.dailytrust.com.ng/news/general/kachikwu-governors-forced-buhari-to-hike-fuel-price--fg-official/146750.html#sea4Uq7VXjwMq2Mp.99

With the federal allocation and current under developed way Bayelsa is, they should not in any way be owing salaries...but no...we wont ask the governor to give account, lets just blame the federal govt cos its gives us joy.

Are we talking about the state governors that go in a convoy of nothing less than 10 exotic jeeps/cars or what?

MurderX:
There is a difference between removal of fuel subsidy and price hike. FG did not hike price it only removed subsidy, we should expect that the forces of demand and supply will eventually stabilize the price.

The vice president would disagree with you. According to him there was no subsidy to be removed.

Nairalanders what would you have done if you were Buhari?

Kineticist:
Some people are in the habit of spewing far fetched news. What has fuel hike got to do with State Govs..

Plenty. When states cannot fend for themselves and the government continues to bail them out. Where do you think the funds are coming from? Nigerians really need to begin to understand the concept of cause and effect. Nigeria did not just become bad overnight. The cause is half a century of terrible citizens and even worse leadership. The effect is what you have as a country today. Blaming Buhari for something that is the fault of every single person in Nigeria is madness.

orunto27:
Ibe Kachikwu is nervous and the state governors that joined him to prevail on Buhari to hike fuel price to N145 per litre, are reckless and unreasonable. It is the importation of Fuel of 50% for Domestic Consumption that put us in this mess.
If Buhari, is truly concerned about the effect of fuel price hike on the average Nigerian, he should immediately stop all importation of Fuel for Domestic Consumption and compel NNPC to produce 100% Domestic Fuel Consumption. While the subsidies removal is sustained, the price hike should be dethroned to N100.

Are you saying nnpc should provide 100% fuel demand from its non-existent refineries?. ... or are you saying nnpc should import 100% of fuel demands?.... nnpc obviously doesn't have the capacity to do any of these.

eph12:

The vice president would disagree with you. According to him there was no subsidy to be removed.

Get your facts right, the vp never said that. learn to read and assimilate and do not let others do the reading and assimilation for you because they may be wrong.

yarimo:
State governors forcing a sitting president just for them to get more money to lavish, really Nigerians are in one one chance. But Is like kachuku is the new lai muhammed of this government

Remember how Ameachi and Co. Forced GEJ to share money from federation account.

MurderX:
There is a difference between removal of fuel subsidy and price hike. FG did not hike price it only removed subsidy, we should expect that the forces of demand and supply will eventually stabilize the price.

spoken like a true zombie

But that is why Nigerians votes for change of government

Masculity:






Remember how Ameachi and Co. Forced GEJ to share money from federation account.

MY QUESTION IS THIS;to what extent is this govt carrying the massies along in her policy making?how many garri market seller understands what buhari and his ministers are into now?

[size=28pt]Yes

#Nationalize-Every-Oil-Well

Let the Movement Begin!![/size]

He said Buhari would not have agreed to the new fuel pricing regime if he had not been presented with the compelling evidence that Nigeria’s declining foreign earnings from oil would be further devastated unless independent oil marketers and other interested entities are encouraged to import fuel.
He said: “The amount required for fuel importation alone will easily take about more than half of the $550m foreign earnings. If the country continues doing that the oil revenue left for FAAC sharing would be significantly reduced with the possibility that a situation where there would be nothing left to share between federal government, states and local governments exists in the near future.
“Although NNPC is meant to supply only 50 per cent of the local fuel supply and independent marketers making up the balance, [size=14pt]none of the marketers has been able to source forex from the CBN this year and therefore cannot sell at the prevailing price regime and make a profit. If the federal government continues with NNPC alone importing oil, and trying to fill the gap left by the independent marketers by dedicating more export crude for domestic consumption, the depleting impact on the oil earnings would continue to worsen. And when this is added to the fact that already about 27 states cannot pay salaries because of the dwindling foreign earnings, the situation becomes even worse. Even some oil producing states like Bayelsa are affected,” he said[/size].

I would like Nigerians to pay attention to the highlighted points......and to for once put aside PDP, APC, GEJ , PMB etc.

Here is the problem. Or rather two problems that led to the increase in fuel price.

1.We are not earning enough money from our crude oil.....so we cannot finance imports with forex at current rate.

2.We import too much fuel.Keep in mind that Nigeria needs 43 million liters of fuel per day....and our refineries can only produce 17 million liters of fuel/PMS.....if they are operating at full capacity.(One expert even thinks Nigeria needs 70million liters of PMS a day.).

The reason why so many people think that removing subsidy is a good idea is because right now....Nigeria is a broke nation. That is why even those calling for palliatives should please wake up and smell the roses. There is no money for palliatives. We just have enough to keep things running as it is.

Nigerians have a serious problem....and the problem is that we always want to spend money we do not have. Right now...we want to live as if oil is $123 per barrel....rather than the $50 per barrel. This does not make sense. We do not have the money. This is not an excuse for corruption....in fact...corruption hurts us badly because they are stealing from a broke nation.

Time we faced reality. Nigeria is , and never was a rich nation. Rich nations are not the countries that rely on selling raw materials and sharing the profits...especially when the profits are not used right. Rich nations invest in the productivity of their people....not in behaving like a trader.

High time we spent more on power, transport, education, etc...and got off this oil mess. Oil will never save us.

orunto27:
Ibe Kachikwu is nervous and the state governors that joined him to prevail on Buhari to hike fuel price to N145 per litre, are reckless and unreasonable. It is the importation of Fuel of 50% for Domestic Consumption that put us in this mess.
If Buhari, is truly concerned about the effect of fuel price hike on the average Nigerian, he should immediately stop all importation of Fuel for Domestic Consumption and compel NNPC to produce 100% Domestic Fuel Consumption. While the subsidies removal is sustained, the price hike should be dethroned to N100.

Now...here is some facts...

Nigeria needs 43 million liters of fuel daily. Our four existing refineries...at full capacity (they are not at full capacity now) can only give us 17 million liters of fuel daily.....ie 17 million.....leaving us with a deficit of 26 million liters of fuel needed.

(And some experts think that we need 70 million liters of fuel a day).

If we stop importing.....we will have CHRONIC fuel scarcity.......and I mean CHRONIC(If you thought the last 6 months were bad...this would be even worse)....no hope of relief. You may even have to forget about using a car for MONTHS on end.

And yes...we should build refineries....but that takes 3-4 years for one...and we need at least 5 new ones.

You see the issue? We cannot stop imports. That is why some of us are angry with PDP for not building refineries...and we would get very angry with APC if they do not build refineries.

Imagine .... What do they take nigerians as, so buhari cant do things he want or just that he cant take responsibility of his actions, i guess the image makers are fixing the integrity part ....



Mr President take responsibility for your actions

The man is up to no good.
The earlier Buhari kicks him out the better.

Kineticist:
Some people are in the habit of spewing far fetched news. What has fuel hike got to do with State Govs..

Because that is where the increase in their shared revenue comes from. Oil price dropped below $40 per barrel compared to when it was above $120 a barrel, with new employments, total payout for employees, low revenue allocation and inflation. And because government has been paying substantial amount as subsidy, with the removal it frees up that huge amount of money paid out to marketers for the government. So you can see why the governors supported the increment and subsidy removal.

emmygzy:
nooo, if they remove subsidy it should be around 99 naira using the official exchange rate. The 145 is arrived at when 298 naira was used as the exchange rate by kachikwu. So for NNPC to use 298 naira is a fraud because they get their forex at 199 from CBN and NNPC too want to be selling at 145 too. Nigerians will be paying 46 naira extra to the federal government anytime we purchase Fuel @ 145 naira at NNPC filling station. So you see that it's fuel price hike to generate money for Federal government.

They used 298 bearing in mind they will be sourcing their FX from the parallel (black market). There is no way they will source and get FX from external at CBN rate which your official rate of 199. So what the government did was to strike a balance by using 298. So if a marketer gets his FX above 298, reality is that he might be selling higher than 145 or lower if he gets his FX at CBN official rate of 199.

Kineticist:
Some people are in the habit of spewing far fetched news. What has fuel hike got to do with State Govs..

Where do you think governors get the monthly allocation to run their states from? The Sky?? Many state workers are groaning because the allocation to states have drastically dropped. Some people over here who were recently employed had their employment terminated when the state government couldn't cope

orunto27:
Ibe Kachikwu is nervous and the state governors that joined him to prevail on Buhari to hike fuel price to N145 per litre, are reckless and unreasonable. It is the importation of Fuel of 50% for Domestic Consumption that put us in this mess.
If Buhari, is truly concerned about the effect of fuel price hike on the average Nigerian, he should immediately stop all importation of Fuel for Domestic Consumption and compel NNPC to produce 100% Domestic Fuel Consumption. While the subsidies removal is sustained, the price hike should be dethroned to N100.

100%/Do u know d state of our 30yrs old Refineries

This is the real definition of 'cluelessness'. You know the consequence of hiking the price of fuel, yet you allowed people to tell you what to do. This man is not fit to rule this country.