StOla:
Obi should be reminded that if refineries were working, we would not be importing refined petroleum products.

For 16yrs, PDP tried aimlessly yet could not repair a single refinery.

We are paying for 16yrs of unrepentant failure by the PDP.

1.As at now, our refineries at full capacity cannot supply all our needs.. Considering that the last one was built in 1988.

2.NNPC cannot build new refineries because under subsidy it sells fuel at a loss. That is how it has been since the 1980s. And that is also why it is difficult to repair the existing refinery.

3.In fairness to PDP, they tried to remove subsidy in 2006 and 2012. Nigerians said no, investment stayed away, and the downstream problem continued

4.removing subsidies means more investments, more refineries at the price of a short lived rise in fuel prices which would fall once competition and the new refineries kick in.

And Dangote is not going to sell fuel below 145 naira per liter to marketers. Not with the loans he took for the refinery he built

PHIPEX:
It's madness to hang the fate of over 200million people on the private plan of a single man, this govt could pass for the most irresponsible govt in the world.

No one is hanging anything, the reason why subsidy is still there is because Nigerians don't want to pay 250 naira for a liter of fuel.

Even Obi knows that

theoldpretender:


No one is hanging anything, the reason why subsidy is still there is because Nigerians don't want to pay 250 naira for a liter of fuel.

Even Obi knows that

The funny thing is that immediately dangotes refineries begin operations , Nigerians will prolly pay more than 250 naira

urahara:


The funny thing is that immediately dangotes refineries begin operations , Nigerians will prolly pay more than 250 naira

Won't be surprised. Dangote has loans and big salaries to pay.

Sirjamo:
The only way to stop subsidies completely is to get our refineries working again or build new ones, or deregulates the downstream sectors 100% and let the masses bear the costs.

Obi and his boss want to remove subsidies and leave Nigerians to pay more for PMS which will lead to more inflation and make life difficult for us.

Buhari and Osinbajo want to keep subsidies for the mean time until private refineries currently under construction come on board, then, we will be able to stop subsidies completely without creating more economic hardship for the people.

Deregulation of the downstream sector is the key. Nothing like patching an old tube here. We have to solve this problem completely and that is removing the subsidy and deregulate that sector. Definitely there will be inflation but I believe it will be temporary as market will definitely drive down the prices. It worked in telecommunication, it can work in this sector. The current government increased petrol price and more money is spent on subsidy. There are ways to address that challenge of hike in petrol prices if subsidy is removed. One of them is by addressing Labour's minimum wage demands.

theoldpretender:


No one is hanging anything, the reason why subsidy is still there is because Nigerians don't want to pay 250 naira for a liter of fuel.

Even Obi knows that

Don't put the blame on Nigerians. Within a year of this govt I paid almost 100% more for fuel than before. Subsidy remains because this govt has gone full cycle with lies. From there is nothing like subsidy to jacking up fuel price to 145 on the lies of removing subsidy. They promised to build new refineries during campaign, now they sit and wait for Dagote to rescue us. They motivated ignorant few to resist subsidy removal I'm 2012, now tell me how wise were they?

They should admit they have no single plan in place to run the economy. They are merely paying salaries and waiting for reactionary moves.

casualobserver2:
It sounds like PDP under Atiku is planning IMF strategy. They have already said they want to sell EFCC and they are now complaining about subsidy. If they sell EFCC and ban subsidy then what will happen to the masses?

Which private entity would want to buy a law enforcement agency like EFCC?

Who wants to sell EFCC?

What kind of talk is this sef?


are Buhari supporters naturally with low IQ?

theoldpretender:


The only way we would attract new investors to build more refinery is by removing subsidy in the first place.

But because that does not win votes, no one wants that idea.

right

StOla:
Obi should be reminded that if refineries were working, we would not be importing refined petroleum products.

For 16yrs, PDP tried aimlessly yet could not repair a single refinery.

We are paying for 16yrs of unrepentant failure by the PDP.

Please grow up. This is in our national interest and not about party. May I remind you that Obi wasn't a member of PDP in those years you mentioned. Who is PDP and who is APC? Is it the Amaechi Rotimi or Akpabio? The earlier we start pushing this down to individuals rather than political parties the better for us. Obama was loved yet his party and his choice was defeated because they don't trust Clinton. Amaechi Rotimi did some good stuff as a PDP governor, Obi did well too as an APGA governor. Let's learn to reward competence rather than just shouting PDP and APC. T.A Orji is a very useless governor and as an average Nigerian politician, he might cross over to APC and start saying that PDP is bad. Who then is PDP?

theoldpretender:


The only way we would attract new investors to build more refinery is by removing subsidy in the first place.

But because that does not win votes, no one wants that idea.

You're right. Buhari can't be stupid enough to make Nigerians pay 200 Naira for a litre of PMS, it will bring the end of APC

theoldpretender:


Won't be surprised. Dangote has loans and big salaries to pay.

it's funny because most Nigerians think that dangotes refineries will even make the fuel cheaper.

This government is truly a disgrace. I thought there is nothing like subsidy.Believe all this useless politicians at your own peril. There can eat their shit to get to that sit.

PHIPEX:
Don't put the blame on Nigerians. Within a year of this govt I paid almost 100% more for fuel than before. Subsidy remains because this govt has gone full cycle with lies. From there is nothing like subsidy to jacking up fuel price to 145 on the lies of removing subsidy. They promised to build new refineries during campaign, now they sit and wait for Dagote to rescue us. They motivated ignorant few to resist subsidy removal I'm 2012, now tell me how wise were they?

They should admit they have no single plan in place to run the economy. They are merely paying salaries and waiting for reactionary moves.

Some back up history

1.In 2012, GEJ raised fuel prices at the pump to 140 per liter. Protests knocked it down to 97.at the time, landing cost of fuel was 99 naira.

2.By 2016,fuel was at 87 naira, landing cost was 132 naira, and because of falling oil prices, govt of Bubu raised prices to 145, ending subsidy at that time.

3.When the landing prices rose to above 160 naira, subsidies returned under the guise of under recovery.

4.Because of the 2012 protests, debts were incurred in paying the marketers subsidy claims. These debts made subsidies unsustainable by 2013 (which is why GEJ plan of 2012 made sense), and the debts rose. It is only just now we are paying them. Off.

5.For govt to remove subsidies, it simply has to stop setting prices and allows marketers set their own price. Because this means politically expensive prices of 250 and above, govt would rather pay subsidy than.risk a revolt.

festacman:
Peter Obi is saying many things, playing to the gallery. What is their short-term plans to ensure steady fuel supply to Nigeria while newly licenced refineries come on board and existing one refurbished? He has not said anything to help their campaign.

There is no short term solution. The immediate step to take is tackle the bottleneck associated with ports activities. Like rebuilding and expanding roads to and around the ports. Check why cargoes are held up and delayed to the extent they incur charges that impact adversely on the petrol price. Also tackle the total volumes imported. These might be inflated. None of these can happen in a short time.

theoldpretender:


Some back up history

1.In 2012, GEJ raised fuel prices at the pump to 140 per liter. Protests knocked it down to 97.at the time, landing cost of fuel was 99 naira.

2.By 2016,fuel was at 87 naira, landing cost was 132 naira, and because of falling oil prices, govt of Bubu raised prices to 145, ending subsidy at that time.

3.When the landing prices rose to above 160 naira, subsidies returned under the guise of under recovery.

4.Because of the 2012 protests, debts were incurred in paying the marketers subsidy claims. These debts made subsidies unsustainable by 2013 (which is why GEJ plan of 2012 made sense), and the debts rose. It is only just now we are paying them. Off.

5.For govt to remove subsidies, it simply has to stop setting prices and allows marketers set their own price. Because this means politically expensive prices of 250 and above, govt would rather pay subsidy than.risk a revolt.

This is one of the most insightful posts on Nairaland, not just this topic. Unfortunately most Nigerians are too stupid to face reality. Just two questions;

1. Is poor Ghana with their faster growing economy not paying more than 250 naira a litre, have they died? has their development stopped?
2. Why is it only PMS government pays subsidy on? why not garri and yam, are these items not crucial for the economy and the poor man, or sudsidy on medication and anti-malaria tablets?

henryobinna:
you're talking bullshit, how can they sell the EFCC, are you even okay. They can disband or end the EFCC totally, but sell? Come on.


Can you sell the police? Is the police a business?

You are not up to speed...

You ought to know that he meant NNPC...

StOla:
Obi should be reminded that if refineries were working, we would not be importing refined petroleum products.

For 16yrs, PDP tried aimlessly yet could not repair a single refinery.

We are paying for 16yrs of unrepentant failure by the PDP.

And APC is doing badly after 3 years ...

At least if you cant improve my well being..... let me be on the status quo ...

StOla:
Obi should be reminded that if refineries were working, we would not be importing refined petroleum products.

For 16yrs, PDP tried aimlessly yet could not repair a single refinery.

We are paying for 16yrs of unrepentant failure by the PDP.

Until you people realise that this our feeding bottle system of government will not take us anywhere. D better for us.

It is not government job to refine petroleum.

If only we deregulated our downstream sector .

Dre would've been enough refineries in Nigeria.

How much is Ghana paying for fuel?
How much is Niger and co.
Even electricity.

Instead.
Our daily consumption jumped from 30m litres to 50m a day while Buhari nd APC pay subsidy without appropriations.

Woes unto you all who sees the truth but always thwart it.

If dey allowed GEJ remove Subsidy

There wouldn't be trillions being wasted today.

Nigeria is north and north is Nigeria forever

TOBACCO19:


I guess u want to say NNPC

Yes I meant to say NNPC.

Sirjamo:
The only way to stop subsidies completely is to get our refineries working again or build new ones, or deregulates the downstream sectors 100% and let the masses bear the costs.

Obi and his boss want to remove subsidies and leave Nigerians to pay more for PMS which will lead to more inflation and make life difficult for us.

Buhari and Osinbajo want to keep subsidies for the mean time until private refineries currently under construction come on board, then, we will be able to stop subsidies completely without creating more economic hardship for the people.

This set of party has paid subcidy and fuel was N87 don't u think Buhari need to humble himself and ask him for solution.

henryobinna:
you're talking bullshit, how can they sell the EFCC, are you even okay. They can disband or end the EFCC totally, but sell? Come on.


Can you sell the police? Is the police a business?

I meant sell NNPC oga.

Metuh:


Selling EFCC ke?



What part of the country are you from?

I meant sell NNPC

casualobserver2:
It sounds like PDP under Atiku is planning IMF strategy. They have already said they want to sell EFCC and they are now complaining about subsidy. If they sell EFCC and ban subsidy then what will happen to the masses?

Sell EFCC? Who said that one? Where, when and how? Ns wa for una o!

artofseduction:


Until you people realise that this our feeding bottle system of government will not take us anywhere. D better for us.

It is not government job to refine petroleum.

If only we deregulated our downstream sector .

Dre would've been enough refineries in Nigeria.

How much is Ghana paying for fuel?
How much is Niger and co.
Even electricity.

Instead.
Our daily consumption jumped from 30m litres to 50m a day while Buhari nd APC pay subsidy without appropriations.

Woes unto you all who sees the truth but always thwart it.

If dey allowed GEJ remove Subsidy

There wouldn't be trillions being wasted today.

Buhari must resign or be impeached

Ghanains are paying an average of 330 Naira per liter for petrol yet the price of transportation is cheaper in Ghana compared to Nigeria. Ivorians don"t say because they are one of the largest exporters of cocoa then there should be subsidies on Chocolate.i dont know where Nigerian got this idea of subsidy on petrol from.Subsidize food,health and Education but not petrol.

StOla:
Obi should be reminded that if refineries were working, we would not be importing refined petroleum products.

For 16yrs, PDP tried aimlessly yet could not repair a single refinery.

We are paying for 16yrs of unrepentant failure by the PDP.

Kaduna refinery and the one in PH was working even though not full capacities. The one in Kaduna has been down for the past 1year and half. What exactly are you talking about?

PHIPEX:
It's madness to hang the fate of over 200million people on the private plan of a single man, this govt could pass for the most irresponsible govt in the world.

Its even WORSE to do nothing and continue to import!! So this is a case of half bread being better than none

anthony86:
Ghanains are paying an average of 330 Naira per liter for petrol yet the price of transportation is cheaper in Ghana compared to Nigeria. Ivorians don"t say because they are one of the largest exporters of cocoa then there should be subsidies on Chocolate.i dont know where Nigerian got this idea of subsidy on petrol from.Subsidize food,health and Education but not petrol.

Totally agree!! We really love to stick our heads in the sand in Nigeria, blindly holding on to the way things were in the past!

Population of Nigeria now and 1960 na the same?

Number of children in school and university na the same?

Number of people requiring electricity na the same?

Number of appliances in a typical house na the same?

Number of mouths to feed na the same?

Pressure on roads na the same?

However, crude oil production na the same! In fact price of oil has actually come down in real terms. What $1bln would build or finance in 1960 will cost maybe $6bln today.

Not to mention we have soooo many more states now, with sooooo many more staff, wasting money on paying unnecessary salaries. Yet we want more infrastructure and everything to be paid for and the same price of yesteryear? Agreed there is corruption, but unfortunately the fact that leaders of the past have been corrupt and incompetent means we have a deeper hole to climb out of with less resources to do so?

If you wait for govt, you go wait tire. Only way is to privatise and let the market create the efficiency.

Zansu007:
Why did buhari now said subsidy was a scam, that there was nothing like subsidy.

Let's say there was scam in the previous subsidy regime