youngsahito:
repair our refineries and stop giving us subsidy headache...I tire for this govt.

ednut1:
But subsidy is a scam na. If diesel is 260 how would PMS be 165. Mr Baru u too dey lie. Since buhari came in private coys (that would provide jobs) have not imported fuel and laid off most of their staff cos of Buhari/NNPC scam subsidy

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

obaataaokpaewu:
This was because when price of crude oil rises, the under-recovery on product price also rises.

I need someone to educate me on the emboldened, when price of crude oil rose up-to $100+, price of PMS was below #100 but now the price of crude oil is below $100, the price of PMS is #145. And I read that the price of subsidy (under recovery) keeps going up every year/budget. Is it that the current admin is importing more volumes of PMS compared to the previous admin or what? Isn't that an indictment on/of the current Minister of Petroleum?

theoldpretender:


I don't like the APC, but it's opponents too also lie as well.
In 2016, landing cost of fuel was 132 naira. Fuel was 87 naira. Fuel prices were raised to N145.

Also, budgets for subsidies always go before the National Assembly.

Parada:



This happens because as an Igbo PDP fraudster your brain as been wired not to believe the truth. How much subsidy did Buhari pay in his first year when crude prices were as low as $30/barrel ? Was subsidy paid or money was being generated ? The answer is why many of you Igbos hate the truth because your soul is sold to the devil n you’d rather make hopelessly foolish comment to disparage the Buhari led government.

tit:


do you have sense ni?

alsudaes1:
What's up with the refineries (and modular refineries)?

youngsahito:
repair our refineries and stop giving us subsidy headache...I tire for this govt.

Zico5:
With what I'm reading here only the ungrateful heart will fail to appreciate GEJ. If increasing the price of fuel to 145 naira could not sustain the price of fuel then kudos should be directed to him for maintaining the price at 87 naira with no complaints from his government. We are all watching Apc, 3 years have gone already and blame game is still on. let's see how far they can go in few months to come

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

codedguy1:
Na their zombies dem go fit deceive. Useless scammers.

greatman247:
I guess what Buhari govt needs to do since they still pay subsidy like GEJ govt then they should go back to N97/ Ltr like during GEJ era, there's no justification for that N145/ Ltr that is been charged now, no justification for it at all. Go back to the old price in 2015 or even lower and continue importing fuel and subsidy until that time that we have working Refinery, period! That is what a sensible government will do, simple.

grandstar:


Togo being a francophone country "may" have quality public schools but I'm sure a majority of the eligible kids are out of school because these schools won't be free!

Whether these countries have good schools or not is irrelevant

More money is wasted on fuel subsidy than is spent on education health and defense combined!

If this waste can be spent on education alone I am sure the quality of education will improve

Anyway primary and secondary school education are the responsibility of the state governments and not the FG so each state is to be held responsible for the quality of education given to their wards

The fuel subsidy also discourages investment in the downstream sector of the economy because investors are discouraged by price controls on products.

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

Sirjamo:
Which of the government, the one that wasted 16 years or the one that's just over 3 years

Parada:
Did your father pay me to come teach you senseless Igbos what you can google or do I look like punch newspaper or vanguard to you ? Abi crazy de worry you. I should be providing prove to Igbo liar on NL ?!

You are free to believe his lies like many of brainwashed Biafrans. Those that need prove can already see the prove in the comment you quoted but delusional won’t allow you see it just like many other Igbo. Buhari did not pay any subsidy when crude sold for below $40. Prove that he did, only then wil I counter that claim so get to work I don’t waste time digging out prove for Ipob.

CheapHomes:


Some of u lack simple basic manners. An inquiry was made. If u have d answers 2d inquiry, provide it. If u dont, let d issue b. U need 2 grow up&b civil. From d look of things, it was just a simple question that got u so emotional 2d point were u lost control of ur emotions. U need 2do get a hold of urself. Learn 2 control ur emotions.

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

ignant:
Until two weeks ago, these animals adamantly maintained that they are not paying fuel subsidy, rather "under recovery", which they claimed is not subsidy.

Until two weeks ago, Osibanjo in his typical criminal falsehood had always maintained since 2016 that Nigeria had stopped fuel subsidy and that billions had been saved.

This government is paying 200%-250% fuel subsidy for a product that costs 30% less.

The disturbing problem with this criminality is that since 2016, fuel subsidy payments have been done without appraisal, audit and approval by the national assembly via appropriation.

What this simply means is that this government has been spending hundreds of billions on fuel subsidy without statutory approval by the national assembly.

The implication of this criminality would have been alarming to any other nation, but no, Nigeria is just a shameful product of British criminality.

midolian:


https://www.vanguardngr.com/2018/12/under-recovery-fuel-subsidy-drops-to-n20-per-litre-nnpc/

olajide8:


It can't be repaired- they should just build new smaller refineries - that are more cost efficient

Deepthoughts:
I don't just get the unnecessary noise about the so call under recovery by this government,it is all noise just to cover the monumental fraud going on, it's fraud in the sense that all money generated by NNPC belongs the whole tiers of government as generated revenue, only the NASS has the constitutional power to approve it's expenditure but what we have on ground now is the Apc government dishing out bogus daily fuel consumption figures n claims of fictitious under recovery payments without any form of transparency or NASS oversight!,yet the zombies are busy singing the praises of thier demigods,the term 'under recovery'itself has just been employed by the decietful Apc to hoodwink the gullible, it's just a classical examplification of fela's statement of "using grammar to dabaru the situation".

Deepthoughts:
But when Atiku rightly suggested that they should be sold you people abused him so much.

theoldpretender:


If the refineries were sold...the problem is that subsidising fuel means that the new investors would be refining fuel and selling it at a loss.

And they need the money....the refineries need fixing.

EVEN then....the four refineries CANNOT meet our needs today. The last one was opened in 1988....and our needs are far higher than they were back then...

theoldpretender:


Seems like you don't get the principle of 'underrecovery'

1.NNPC imports fuel (as at today) at N165 and sells it to marketers at N145 per liter

2.NNPC also forces marketers to sell at N145 per liter

3.The government pays N20 per liter of fuel as 'underrecovery' to compensate NNPC for selling fuel to marketers at a loss.

4.Even then, NNPC is not making a profit at all.

5.In 2016 when fuel was being sold at N87 and landing cost was N132, government icnreased prices to N145 , and stopped paying subsidy since cost at the pump was higher than cost at the import.

6.As crude oil prices went up, so did the landing cost of fuel until it passed N160 PER liter...and recently it was high as N190 per liter. Government promptly was forced to start up subsidy payments again ie underrecovery payments to prevent a rise in price of fuel to as high as N250 per liter.

7.It is because NNPC is not making a profit, and has never made a profit under subsidies thaT NNPC cannot earn enough cash to build new refinereis and improve exisiting ones.

8.Also, we don't have more investors building new refineries because no one wants to refine fuel and sell it below the cost it took to refine the fuel.

9. All this corruption you allude to would STOP if government remives subsides, stops paying underrecovery money and allows NNPC to set profitable prices, and allows marketers to import and sell fuel at the price that would enable them to make a profit.

However, this means a pump price of N250 and above...which most Nigerians do not want...and which would lead to protests.