obomobo:
People believe d removal of subsidy den was a scam, d@ d govt will embezzled d money but I know only time will tell

progress69:
For the wailers who hapilly invaded this thread thinking they will see something to masturbate about, Sorry for the disapointed. Am dure some of you Ekpas will only read the headline and fly to comment.

Back to the matter;

In 2009 when I became governor of Central Bank, the Nigerian government spent N291 billion that year subsidizing petroleum products.

“Two years later in 2011, N2.13 trillion was spent on the same subsidy, so has our population increased ten fold? It was very clear that this wasn’t oil subsidy; it was a scam.


This is just oine of the greatest heist carried out by the gele wearing woman and her master. Imagine using 25% of this year's budget to finance bogus subsidy claims. Even the most inteligent and unrepentant wailer can never come up with anything meaningful to defend this scam


“This is just on kerosene; can you imagine a country losing $120m every month to a non-existent subsidy on kerosene, and not on the PMS.

This one is broad day light robery. Nobody ever i repeat nobody ecer biught kerosene at a subsidized price of N50 -N55 per litre at any filling station. Just once in a blue moon that NNPC sells at the price at select outlets. who was swallowing all the money?

Today oil is selling below 50usd per barrel for over a year now,everyone is crying economy.imagine we had all these monies in our reserves

God help us

Izonpikin:
even Buhari then thought it was a scam....gej Don leave the country for them to rule na...

progress69:
Emir of Kano, Muhammadu Sanusi II on Wednesday said that Nigeria is experiencing economic recession due to the implementation of a “foolish, unrealistic and unsustainable” policy.

The former CBN governor wondered why anyone would be surprised that the country is “bankrupt”, saying the refusal of the elite to listen all these years led us down this path.

Sanusi said this while delivering a lecture on deregulation of the downstream oil sector and Nigeria’s economic development at the National Defence College, Abuja.

“Nigeria is bankrupt; we are bankrupted by a policy that was foolish, that was unrealistic, and unsustainable, and by all means our refusal over the years to listen,” he said.

“We are surprised that we have an economic recession; we are actually surprised that we are in recession? We created the recession.

“The oil sector is only 15 per cent of GDP, yet oil accounts for 70 per cent of government revenues, oil accounts for 99 per cent of our foreign earnings.

“We got to a point when even though the numbers were staring us in the face, the entire nation was in denial. In 2009 when I became governor of Central Bank, the Nigerian government spent N291 billion that year subsidizing petroleum products.

“Two years later in 2011, N2.13 trillion was spent on the same subsidy, so has our population increased ten fold? It was very clear that this wasn’t oil subsidy; it was a scam.

“The whole issue of fuel subsidy was set up to create an opportunity for a few people to make money, and it was presented in a manner that convinced everybody that it was for the poor.

“For every 30,000 metric tonnes of kerosene imported into the country, the Federation Account lost $20m. We were importing six to eight vessels per month for six years until this subsidy unload; the Federation Account was losing from $120m to $160m every month.

“This is just on kerosene; can you imagine a country losing $120m every month to a non-existent subsidy on kerosene, and not on the PMS. This is how bad non-deregulation was because it allowed a small group of criminals to garner so much financial resources as to undermine every single institution that we had for checks and balances.”

https://www.thecable.ng/nigeria-bankrupt-because-of-a-foolish-policy-says-sanusi

Miranda11:
Who was President of nigeria in 2009? i believe it was that person who appointed Sanusi as CBN Governor, why didn't he tell Yaradua then that subsidy was a scam or challenge Obasanjo that subsidy was a scam?

Jonathan tried to remove subsidy during his time and Sanusi was the CBN gov then, because Jonathan knew it was a huge scam but the APC people in power now fought against it, only for the same APC people who supported Sanusi to become Emir of Kano, to turn around and remove it.

Sanusi was also part of the foolish people that created the policy, so please who is scamming who here?

Miranda11:
Who was President of nigeria in 2009? i believe it was that person who appointed Sanusi as CBN Governor, why didn't he tell Yaradua then that subsidy was a scam or challenge Obasanjo that subsidy was a scam?

Jonathan tried to remove subsidy during his time and Sanusi was the CBN gov then, because Jonathan knew it was a huge scam but the APC people in power now fought against it, only for the same APC people who supported Sanusi to become Emir of Kano, to turn around and remove it.

Sanusi was also part of the foolish people that created the policy, so please who is scamming who here?

Miranda11:
Who was President of nigeria in 2009? i believe it was that person who appointed Sanusi as CBN Governor, why didn't he tell Yaradua then that subsidy was a scam or challenge Obasanjo that subsidy was a scam?

Jonathan tried to remove subsidy during his time and Sanusi was the CBN gov then, because Jonathan knew it was a huge scam but the APC people in power now fought against it, only for the same APC people who supported Sanusi to become Emir of Kano, to turn around and remove it.

Sanusi was also part of the foolish people that created the policy, so please who is scamming who here?

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

Miranda11:
Who was President of nigeria in 2009? i believe it was that person who appointed Sanusi as CBN Governor, why didn't he tell Yaradua then that subsidy was a scam or challenge Obasanjo that subsidy was a scam?

Jonathan tried to remove subsidy during his time and Sanusi was the CBN gov then, because Jonathan knew it was a huge scam but the APC people in power now fought against it, only for the same APC people who supported Sanusi to become Emir of Kano, to turn around and remove it.

Sanusi was also part of the foolish people that created the policy, so please who is scamming who here?

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

TheLegal:
we imposed this recession on ourselves. In 2010 when Jonathan removed fuel subsidy, many idiots opposed him. The finance minister then, Iweala did everything possible to convince some fools that subsidy was a scam, that it benefited only the rich and impoverished the poor masses, we chose to play politics with. Evil men then, now in APC including the dullard of a president, brainwashed the illiterates and they took to the streets to protest against subsidy removal.

God will deal with many both here on earth and in the world to come.

The protest was highly felt in the South West and in the North.

ashala:



.....and when Jonathan wanted to emove subsidy, where you not among the Ekpas that fought tooth and Nail?

progress69:
For the wailers who hapilly invaded this thread thinking they will see something to masturbate about, Sorry for the disapointed. Am dure some of you Ekpas will only read the headline and fly to comment.

Back to the matter;

In 2009 when I became governor of Central Bank, the Nigerian government spent N291 billion that year subsidizing petroleum products.

“Two years later in 2011, N2.13 trillion was spent on the same subsidy, so has our population increased ten fold? It was very clear that this wasn’t oil subsidy; it was a scam.


This is just oine of the greatest heist carried out by the gele wearing woman and her master. Imagine using 25% of this year's budget to finance bogus subsidy claims. Even the most inteligent and unrepentant wailer can never come up with anything meaningful to defend this scam


“This is just on kerosene; can you imagine a country losing $120m every month to a non-existent subsidy on kerosene, and not on the PMS.

This one is broad day light robery. Nobody ever i repeat nobody ecer biught kerosene at a subsidized price of N50 -N55 per litre at any filling station. Just once in a blue moon that NNPC sells at the price at select outlets. who was swallowing all the money?

Today oil is selling below 50usd per barrel for over a year now,everyone is crying economy.imagine we had all these monies in our reserves

God help us

3Div:


Didn't the Gele wearing woman move to remove the subsidy in 2011 ?.
Didn't the Gele wearing woman move to create a SWF ?.

What do you even know ?.

God help us.

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

progress69:


Abeg make we hear word. I say make we hear word. The question is how dis subsidy claims jump to up to 8 times more than what was paid in 2009.SWF yhat she eas stealing from? Sanunsi asked if our population rose 10 times. Can u and yhe gele woman expalin the jump in subsidy claims.why did u delibrately ignore the fact she was also paying for a non existent kerosene subsidy. She and master want to turn thr burden of the great heist on innocent Nigeroans whilst selling oil above 100usd, and in prime oil production. Nigerians are no fools, they know the differnce b/w subsidy regime then and now. Okonjo initiated TSA but it was never implemented, They tried to remove total subsidy, no balls to hold tight. To hell with the ineffectual buffon and the con artiste gele wearing woman. You know nothing, i repeat u know nothing. Blind follower

3Div:


I wish you had more sense.

In 2011, the gele woman came out and said all these things you are saying. She was that made it public that NGR could no longer afford to pay this subsidies especially since most of them are fraudulent.

What do you know about Governance ?.

SWF ?. Lord! Why do you have to be such a fool ?!.

Wasn't it Amaechi and cohort that took the FG to court so they could have money to spend on APC...which they did.

Common son. Wake up and learn.

progress69:


Hey boy now listen. This issue of SWF have been over flogged. You i and mynd44 agreed to save money. But all the time we comr for executive meeting you discover I and Mynd44 have tampered with the savings. Now tell me, are u gonna accept to keep saving with us . That is number one. Mind u, google is ur friend, the same fraudster claimed FAAC was aware of the fradulent removal of 2 trillion from be SWF for some phantom subsidy claims but later retracted her lies wgen FAAC denied and said Jonathan gavr her the approval to withdraw the alleges money to pay for subsidy. I am sure u will not like to keep ur money with a con artiste.

You are playing around the bush, the question begging for ans is what occassioned the subsidy Jump from 290bn to 2.2trillion? Did the amount of cars and generators multiply by 10. Or did our population in Nigeria suddenly tripple?she was trying to shift her mess to the innocent masses.

Hey you boy, why have u refused to telk us who was swallowing the so called phantom kerosene subsidy claims, all this still under her watch.

Hey boy, not everyone is silly. I hope u av been educated enough.

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

mrkayusfit:
The Niger delta terrorists are the ones crippling our economy. Left to me, i prefer the military invade the Niger delta creeks to smoke out the scavengers crippling our oil wealth just like they did in arepo creeks. Negotiations is not the way out. Bombard the idiiots and let them know force is the only reply from the government. Many states can't pay salaries because our oil production is dropping because of a few miscreants fighting for their pockets. We once fed the country with cocoa and agriculture money from the north and no youths from SW & North formed militancy. Lazy parasites waiting for monthly stipends from our oil wealth instead of looking for what to do

3Div:


Who raised the alarm that this subsidy is a scam ?!.

That's a simple question. Now, you're accusing the gele woman, same woman who came out publicly to say subsidy was a scam and some people where just churning out figures.

If you do not know, the figures are gotten from the port then sent to the MOF.

That was why NGO had to say. NO!. This is a scam.

5 years later you open your mouth to say how was it so like she didn't say it then.

You have no knowledge of what you're talking about son.

Read!.

ashala:



.....and when Jonathan wanted to emove subsidy, where you not among the Ekpas that fought tooth and Nail?

3Div:


Who raised the alarm that this subsidy is a scam ?!.

That's a simple question. Now, you're accusing the gele woman, same woman who came out publicly to say subsidy was a scam and some people where just churning out figures.

If you do not know, the figures are gotten from the port then sent to the MOF.

That was why NGO had to say. NO!. This is a scam.

5 years later you open your mouth to say how was it so like she didn't say it then.

You have no knowledge of what you're talking about son.

Read!.