|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,714,323 members, 6,413,647 topics. Date: Saturday, 31 July 2021 at 05:40 AM
|Logical Reasonings Behind Fuel Subsidy by Horlawale1(m): 9:43pm On May 15, 2016|
Chief Joseph is a petroleum importer. He imports 10 million litre of petrol at the of cost of N95 per litre.
He report to the DPR that he has imported 15 million litres at the cost of N105 per litre, requesting N30 subsidy per litre.
DPR sends Mr. Yusuf, an inspection and monitoring officer, to measure and verify the authenticity of the claims.
Chief Joseph offered Mr. Yusuf a bribe of the applied subsidy in liew of 1 million liters, which Yusuf reject instantly, requesting that of 3million liters so that, it can comfortably go round to his bosses.
Apparently they ended up agreeing on 2.5m liters each. The deal is strucked, Mal. Yusuf and his Bosses ended up with N75,000,000 while Joseph, the importer gain N400,000,000 on the deal They jointly cheated the government the sum of N175,000,000.
Finally Chief Joseph divert 75% of the product to the black market and sell at N120 per liter to the masses. Later the government will also pay the cost of transporting 15 million liters to the allocated filling stations across the country.
Thats exactly the case of petroleum subsidy in Nigeria. So isn't it better for the government to invest those savings of hundreds of Billions of Naira wasted every year on subsidy, on life touching projects?
GOD BLESS NIGERIA
|Re: Logical Reasonings Behind Fuel Subsidy by faaz24: 9:46pm On May 15, 2016|
HA ! Subsidy is a scam
|Re: Logical Reasonings Behind Fuel Subsidy by Flexherbal(m): 9:51pm On May 15, 2016|
God bless Nigeria.
|Re: Logical Reasonings Behind Fuel Subsidy by Taeewo(m): 9:57pm On May 15, 2016|
|Re: Logical Reasonings Behind Fuel Subsidy by lodscott(m): 10:12pm On May 15, 2016|
my problem is why una no talk this one when jona Commot the subsidy.
|Re: Logical Reasonings Behind Fuel Subsidy by happen2: 10:22pm On May 15, 2016|
Because there was alot money in our foreign reserves which Govt were sharing between themselves then and hence Nigerian demanded for subsidy payment by Govt.
|Re: Logical Reasonings Behind Fuel Subsidy by naija247: 10:28pm On May 15, 2016|
The increase in price isn't as a result of subsidy removal as already clarified by the VP and other gov't officials. According to them Nigeria wasn't paying any. The pricing templet has been adjusted because of forex based on interbank rates. This means that marketers are expected to get dollars around #285.
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 34