AZeD1:

This part here is what I have been trying to tell you.
Do you know why they can flout the law, because they make money unlike non revenue generating agencies that need money to be given to them.

I am not arguing for the legality of what the agency are doing, I am saying when the VP says that NNPC not the FG is paying for the subsidy, he knows what he is saying.

NNPC is not the only agency making money.

FIRS and Customs bring in Trillions every year.

Note: Every spending by the NNPC must be approved by the FG, including Joint venture agreements.

AZeD1:
Too many illiterates on this thread. All revenue generating agencies return a percentage to the federation account while they spend the remaining.

If the VP says NNPC is paying for it, then it's coming from their share of revenue generated.

Also the NNPC does crude oil swaps.


If you've worked in a big company, you'd know departments have budgets and they kind of spend it in different ways.

I thought vegetable govt said crude oil swap was scam? Why continue with what they call scam? Buhari terminated GEJ's crude swap (a system that largely contributed to stable supply and availability of fuel) calling it a scam, only for the same man to go back to his vomit just like fuel subsidy This govt is rudderless!!!

AZeD1:

Innoson motors wasn't accused, Chukwuma Innoson was the one accused.
If you don't understand the concept of Legal entities, I can't help you.

At times you need to keep quiet about issue beyond you.

ochiosa:
does it then mean that deregulation remains the only solution?

In theory yes.

In other words, Osibanjo is saying NNPC is empowered to spend Nigeria's monies illegally as every money expended outside what is provided for in the senate approved budget is an illegal expenditure.

AZeD1:

Come and seize my phone and laptop na.

Wetin I wan do with ur 2gb ram laptop or 512 ram phone. Ask buhari to buy for you

OBAGADAFFI:



NNPC is not the only agency making money.

FIRS and Customs bring in Trillions every year.

Note: Every spending by the NNPC must be approved by the FG, including Joint venture agreements.

I am not arguing about that. It's the law but how many agencies really follow the law?
Anyway that's another post. My point on this thread is to explain the difference between the FG and NNPC. People think the VP is lying when he said the NNPC is paying for the subsidy not the FG and I'm trying to tell them that the FG and the NNPC are not the same and the VP is not lying. For this thread, I don't care about legality.

AZeD1:

Innoson motors wasn't accused, Chukwuma Innoson was the one accused.
If you don't understand the concept of Legal entities, I can't help you.

obviously we all cant help you...
https://www.thisdaylive.com/index.php/2017/06/15/osinbajo-orders-payment-of-2bn-outstanding-subsidy-claims/ (if NNPC is not a subset of FG why is Osibanjo ordering the payment of subsidy and why is subsidy delayed because of the approval process...please refute this claim in the reports)

https://www.premiumtimesng.com/news/top-news/194245-senate-%E2%80%8Bapprov%E2%80%8Bes-n574bn-supplementary-budget.html
i expect you to defend this also..why did the senate approved 521billion on request from the FG for the payment of outstanding subsidy payment

please defend all these...if you want more i have them

OBAGADAFFI:


At times you need to keep quiet about issue beyond you.

Why are there 3 defendants not two if the owner and the company are the same?

Who's Federal government, minister of petroleum & NNPC ? hmmmm. He claimed subsidies has been removed or a scam. APC come to lime light thru lies and rumour . worse government.

Saaruman:
I thought vegetable govt said crude oil swap was scam? Why continue with what they call scam? Buhari terminated GEJ's crude swap (a system that largely contributed to stable supply and availability of fuel) calling it a scam, only for the same man to go back to his vomit just like fuel subsidy This govt is rudderless!!!

What's my business with that? All I am interested in on this thread is to educate peeps like you on the difference between the FG and NNPC.

Don't miss out, invest now!

hegelian:

obviously we all cant help you...
https://www.thisdaylive.com/index.php/2017/06/15/osinbajo-orders-payment-of-2bn-outstanding-subsidy-claims/ (if NNPC is not a subset of FG why is Osibanjo ordering the payment of subsidy and why is subsidy delayed because of the approval process...please refute this claim in the reports)

https://www.premiumtimesng.com/news/top-news/194245-senate-%E2%80%8Bapprov%E2%80%8Bes-n574bn-supplementary-budget.html
i expect you to defend this also..why did the senate approved 521billion on request from the FG for the payment of outstanding subsidy payment

please defend all these...if you want more i have them

Dude you currently have no idea what is going on right now and I can't help you.

AZeD1:

Dude you currently have no idea what is going on right now and I can't help you.

its obvious you are clueless to whatever it is you are defending same as osibanjo and the entire PMB government...I rest my case sir!

NNPC is a public corporation...if NNPC pays that means the money is from public purse...The presidency said subsidy has been removed, so why NNPC still paying ? During #GEJ the folk said subsidy is a scam , now NNPC importing fuel at the rate of N171 & selling N145 now its N220...there's no truth in d system....this government is deceptive.

AZeD1:

I am not arguing about that. It's the law but how many agencies really follow the law?
Anyway that's another post. My point on this thread is to explain the difference between the FG and NNPC. People think the VP is lying when he said the NNPC is paying for the subsidy not the FG and I'm trying to tell them that the FG and the NNPC are not the same and the VP is not lying. For this thread, I don't care about legality.

AZeD1:

Why are there 3 defendants not two if the owner and the company are the same?

Have you ever registered a company before?

Just asking.

You cannot sue a company without the signatories .

OBAGADAFFI:


At times you need to keep quiet about issue beyond you.

dont mind the guy..no agency or MDA can spend without express permission by the senate.. which was why the then minister of Aviation was criticised fro buying cars that was not captured in their budget or appropriated for....
when its convinient for us we blame the govt and when we like the govt we blame the agency and exonorate the fg....

Too many people here don't understand what is going on so I'll try and break it down.

1) As at today, only the NNPC is importing PMS.
2) The landing cost is 171 but it's sold 145
3) Due to 2 above, it means the cost of PMS is subsidized.
4) Based on the VP's statement, lots of people think the NNPC/FG is paying money ala GEJ's time but this is wrong.
5) The subsidy the VP is talking about is NNPC running at a loss. The NNPC is not paying money to any marketer right now. This might change in the near future but not as at today.

hegelian:

dont mind the guy..no agency or MDA can spend without express permission by the senate.. which was why the then minister of Aviation was criticised fro buying cars that was not captured in their budget or appropriated for....
when its convinient for us we blame the govt and when we like the govt we blame the agency and exonorate the fg....

Some of them dont even know what they are talking about.

They just repeat lies told them by the spin doctors.

Pesuzok:
Everybody is trying to be politically correct.

See, if we don't refine the pms we use, no matter who you put as head of this country we will still find ourselves in this problem.

If they start paying subsidy, we will complain, oya buy at 181, we will cry. Please Nigerian, let us reason together.

We even prefer the govt to pay subsidies of 1tr when we don't even have money for capital projects.

We need suggestions and solutions. We need to put on our thinking cap, put your suggestion out on the social media, somebody somewhere can act on it to better our lives.

Leave the politicians, enough of this APC, PDP crap

So why are we not refining

AZeD1:

What is my stand?

That if NNPC decides to dash out crude oil for lesser petroleum products, it won't affect the country as the crude oil is for their own consumption

AZeD1:
Too many people here don't understand what is going on so I'll try and break it down.

1) As at today, only the NNPC is importing PMS.
2) The landing cost is 171 but it's sold 145
3) Due to 2 above, it means the cost of PMS is subsidized.
4) Based on the VP's statement, lots of people think the NNPC/FG is paying money ala GEJ's time but this is wrong.
5) The subsidy the VP is talking about is NNPC running at a loss. The NNPC is not paying money to any marketer right now. This might change in the near future but not as at today.

6.Nnpc is forcing marketers to sell at 145, leaving little room for profit making.Marketers under the current regimen cannot do business in the harsh circumstances

OBAGADAFFI:

Have you ever registered a company before?

Just asking.

You cannot sue a company without the signatories .

A company owing you is different from the owner of the company owing you.

Amcon took over silverbird Galleria but did not go near Murry Bruce house because they are two different entities.

eph12:

That if NNPC decides to dash out crude oil for lesser petroleum products, it won't affect the country as the crude oil is for their own consumption

Seriously? My point on this thread is that NNPC and the FG are two different entities.

OBAGADAFFI:
“And don’t forget that the way that the NNPC trades is that, in many cases, NNPC is actually giving fuel; there is 445,000 barrels of fuel.

“So really what you are seeing, in many cases, is more or less an exchange for PMS. So at the moment NNPC is paying the cost.”

So how did they arrive at N171, if they are exchange in Fuel for PMS.

They are doing crude swap..

However they need to cost what they re swapping so that the cost can be equivalent..

9jakohai:


6.Nnpc is forcing marketers to sell at 145, leaving little room for profit making.Marketers under the current regimen cannot do business in the harsh circumstances

This doesn't follow because the marketers are not currently importing. This is the reason why they stopped.

AZeD1:
Too many people here don't understand what is going on so I'll try and break it down.

1) As at today, only the NNPC is importing PMS.
2) The landing cost is 171 but it's sold 145
3) Due to 2 above, it means the cost of PMS is subsidized.
4) Based on the VP's statement, lots of people think the NNPC/FG is paying money ala GEJ's time but this is wrong.
5) The subsidy the VP is talking about is NNPC running at a loss. The NNPC is not paying money to any marketer right now. This might change in the near future but not as at today.

1. Who imports diesel and Kerosene

2. How did the NNPC arrive at the figure 171

3. If PMS is subsidized, is Kerosene subsidized?

4. If the FG /NNPC is not paying money, what are they paying to bring fuel into the country and at what cost

5. Can we see the profit and loss statement of the NNPC?

Note: the NNPC is not supposed to pay any money to Marketers since marketers don't import fuel.

AZeD1:

Seriously? My point on this thread is that NNPC and the FG are two different entities.

The buck of the major decisions taken at NNPC falls on whose table?

AZeD1:


What's my business with that? All I am interested in on this thread is to educate peeps like you on the difference between the FG and NNPC.

Before 2015 election, buhari made an allegation against GEJ's govt that NNPC under PDP govt is operating two accounts to commit acts of looting and embezzlement. Buhari went on to say if elected, he will reform NNPC and make it more transparent. Now with this statement by vice President that NNPC bares the cost of fuel subsidy not fg, do you agree with buhari allegations against GEJ that NNPC operate two accounts? Does the vice President's statement lays credence to the fact that NNPC still operate two or more accounts under the so called saint govt If yes why continue with what they call scam during the last govt? Is this how the plan to change Nigeria?

u lie more than lieous Muhammad

kkko:

Wetin I wan do with ur 2gb ram laptop or 512 ram phone. Ask buhari to buy for you

Say what?

OBAGADAFFI:


1. Who imports diesel and Kerosene

Diesel is deregulated, Kerosine importation is shoddy. It's supposed to be deregulated but....

OBAGADAFFI:


2. How did the NNPC arrive at the figure 171

They have their costing mechanism. It's the same way they arrived at 145.

OBAGADAFFI:

3. If PMS is subsidized, is Kerosene subsidized?

PMS is not officially subsided. The NNPC is running at a loss for now. I don't know about Kerosine.

OBAGADAFFI:

4. If the FG /NNPC is not paying money, what are they paying to bring fuel into the country and at what cost

NNPC traditionally swaps it's daily quota for imported refund products, more like trade and better.

OBAGADAFFI:

5. Can we see the profit and loss statement of the NNPC?

Why are you asking me? Did I tell you I work with the NNPC?
Note: the NNPC is supposed to pay any money to Marketers. Since marketers don't import fuel.