President Muhammadu Buhari says the federal government has set aside N305 billion or $1 billion for fuel subsidy payments in the 2019 budget.

Speaking to the joint session of the national assembly on Wednesday in Abuja, the president said the amount will be used to cater for NNPC “under-recoveries”.

“We have allowed N305 billion, equivalent to $1 billion for under-recoveries by NNPC on premium motor spirit in 2019,” Buhari said.

“We will continue working to bring it downwards, so that such resources are freed to meet the developmental needs of our people.

“Let me also use this opportunity to address and clarify the under-recoveries or subsidies on petrol in a period of economic challenges, our purchasing power is weak, we must reduce some of the burden on Nigerians.”

The president went on to explain that subsidies today are much more different from what they used to be in the past, stating that the NNPC is the sole importer of oil today.

“The problem in subsidies in the past was abuse and corruption. Today, the government through the NNPC is the sole importer of premium motor spirit,” Buhari added

“Therefore the under-recovery is fro the NNPC trading account. This means the possibilities of some marketer falsifying claims are removed.”

The senate recently confirmed that $1.05 billion NLNG dividend to the Nigerian state was also used for fuel imports in 2018.

SOURCE: http://www.nigerianeye.com/2018/12/were-setting-aside-1bn-for-fuel-subsidy.html

I remembered this guy said he knows nothing like subsidy and will not pay.

I remembered a friend telling me how this guy built refineries in 1984 and under Abacha and how he is coming to build in every local government.

I remembered the fake rumor that the price of fuel has been reduced to 50 naira by Buhari.

I remembered the early constant light as this guy entered that made some people throw away the fuel can they buy fuel for generators.

Then, when I realized all was SCAM, I simply say " God open thw eyes of all his present supporters"

Ok. Setting aside such a whooping sum for something you claimed never exist. Who is deceiving who.

Someone once said there is nothing like subsidy, that subsidy payment was a fraud and a pipe line for looting as such payment does not exist.
Today, same person pays billions of dollars for the fraud.
Mr integrity in action.

This is another whopping Buhari's achievement according to zombies.

APC /Pmb 2015: There is Nothing like Subsidy!

APC/Pmb 2015: We are increasing fuel price so as to stop subsidy Payments!

APC/Pmb 2018: we are setting $1Billion aside for Subsidy Payment!


The Present Government is a FRAUD!!! Mark these words!! An event that will shake Nigeria to its foundation will happen soon!!! Except The Person in power now Drops!

Final Words: If Pmb or anyone like this Government Happens to Come Back in 2019.................You guys will Sing Fela song

"I sorry sorry ooooo
I sorry for..........

"Subsidy is a scam"-Buhari.


https://www.youtube.com/watch?v=6JjR3RHRs1w
Hypocrisy and clueless is when Buhari/APC/"Occupy Nigeria Protesters" shouted that "Subsidy is a scam.Subsidy does not exist" And today "..President Muhammadu Buhari says the federal government has set aside N305 billion or $1 billion for fuel subsidy payments in the 2019 budget..."

-So what happened to the one-year one-refinery scam?
-How much of petrol does Nigeria consume daily?
-Why is the price of petrol still high despite the fraudulent allegedly non-existent subsidy?

chai,no hope for revamping the refineries or building a new one.
abeg how much will it cost to build a refinary,even if it is medium size.

overall90:
chai,no hope for revamping the refineries or building a new one.
abeg how much will it cost to build a refinary,even if it is medium size.

Just one refinery instead of wasting this money

Righteousness89:
APC /Pmb 2015: There is Nothing like Subsidy!

APC/Pmb 2015: We are increasing fuel price so as to stop subsidy Payments!

APC/Pmb 2018: we are setting $1B

No shame @ all because there is an ever ready band of zombies to do the defending.What a tragic irony.

But I thought u say that subsidy is not real. Politician with game of chess