freeman67:


The consequences would be that the price of anything that is transported be it; water, food, clothes, drugs etc and all services will increase. There will also be fresh demand for increase of salary because the so called increase that is meant to start by May 2019 was to measure cushion the effect of the former increase from 87-145.

At least the President has already told Nigerians to brace-up for the impact. Welcome to next level. We will all suffer before we enjoy later.

LZAA:

Cc immhotep sarrki Adaibeku

PrecisionFx:




""We will all suffer before we enjoy later""


Paid buharist, I didn't grab that on time...

bigfish3k:


unending suffer before enjoyment. so when will the enjoyment come. my parents suffered austerity so that i can enjoy when am grown up, my parents also suffered S.A.P so that i can enjoy when am grown up, and so many other economic sufferings.
all those are just for me to enjoy when am grown up.
as u can see am now grown and am supposed to be enjoying, but these clowns at the helm of affairs in our country are asking me to endure and suffer so that my own children will enjoy. what rubbish. what cycle of suffering.
they dont mean well for us. given my experience, whats the guaranty that my children will enjoy when i finished another round of suffrering

Nbote:
So what was it u ppl claimed to remove d last tym dat made Nigerians now pay 143 a litre? Despite d NNPC claiming repeatedly dat dey no longer pay subsidy but under-recovery? May God punish both d govt and its supporters

MondayOsunbor:
Please somebody tell us why petrol was increased from 97 to 145 naria ?

tactius:


Because at the time, landing cost was 132 naira while we were selling fuel at 87 naira.

Hence the increase.

erico2k2:

what year was this?

tactius:


2016

erico2k2:


Name one country of the world where you can land petrol from at that cost, please

tactius:


I have no idea...I just read the papers, and accept the facts they give.

You can ask the Petroleum Ministry.

Thing is, I am not a Buhari, Atiku, PDP, APC or whatever supporter. I just think our country would get a better deal by removing subsidy so that all this landing cost things, fake claims, etc can be wiped off.

erico2k2:

The reality is this, if subsidy is removed we are dead. They should tackle the corruption surrounding subsidy, this is the only thing the FG pays for to aid the common man why take it away? They should fix the refineries and that should sort the problem or better still, let private investors refine the oil and the FG regulate the price. This is the practice abroad. As we stand, there is nowhere in the world you can land petrol less than N250.

tactius:


On the other hand , if we keep subsidy

1. The downstream sector is going to be chronically starved of cash. There would be no money to repair or increase refining capacity.

2.Investment would be hindered chronically...and the prospect of new jobs would bereduced.


In 2001...gsm came to Nigeria. We were paying N30000 for SIM (I was a student at that time, and I recall when Vee Mobile..now Airtel...put a poster in our hostel advertising their N27000 package....a package most students won't have been able to afford).

The GSM companies made huge profits...which were reinvested in equipment, etc....and by 2006, the cost of SIM had fallen, services, which were bad in 2002 that someone could not make calls between networks easily had improved drastically.

We could do the same for fuel....and there might be hardship at first, but things would get better. That was the idea back in 2012...but Nigerians could not see what GEJ was intending. (I was a PDP opponent....still am, but I know a good deal when I see one)

erico2k2:

The petrol module is quite different from the GSM one as there is little room for improvement in the means of refining. That being said, I was talking along the line of making the business of building refineries private hence Atiku said he was going to sell NNPC to his friend people where shouting without knowing the true meaning of what it meant. Now if he sells NNPC that shifts the refining of crude to private investors whom in turn must make a profit, how they go about this is their own palava just like the Telcoms coy.which you agree with me. So the way to go is private refining. There is no way we as a country will survive if the subsidy is removed, anyone telling you that would happen is just playing politics, cos we cannot afford to live o n N400/litre,

tactius:


Niger is poorer than we are, and fuel costs N397 per liter there

Benin too...fuel costs N298.

Cameroon fuel costs at least N350 per liter

I checked.

vineyardfarms:
WHO IS A LIAR, THEIF, MANIPULATOR, DECIEVER, CHEAT AND SOLD OUT? APC? NNPC? PRESIDENCY? MINISTER LIAR? ALL WE KEEP HEARING ! NO SUBSIDY PAYMENT BY FG. NOW WORLD BANK HAS EXPOSED THE ONLY MR INTERGRITY. WHO IS FOOLNG WHO?

theenchanter:
which people? did u missed ur way?

The only thing this administration did was that they revoked fuel importer license and asked nnpc alone to import fuel cos most fuel importers hiked their imports which doesn't correspond with what we consume according to nbs. The likes of otedola of forte oil were once importers.

And it made sense.... I dont know if u're aware of d subsidy scam some years ago sha.

freeman67:






We all don't have the same way of writing... Maybe because I did not add any funny emoji or start cursing you guys didn't see the intended sarcasm behind the we will all suffer before we enjoy statement...

I don't have a private refinery/ filling station or market where I will get anything at a lesser price.. We all go to the same market.. I know from personal experience that nothing increases and decrease in Nigeria... I am also part of the people that keeps paying for light and not seeing any improvement even though we keep hearing about it's increase on channels TV..
I know all that but I also know that my knowing that won't change any decision government decides to make so I have resolved to brace for the impact.... Las Las we will all leave through it.

PrecisionFx:



U really need to learn sarcasm.

tactius:


Niger is poorer than we are, and fuel costs N397 per liter there

Benin too...fuel costs N298.

Cameroon fuel costs at least N350 per liter

I checked.

PrecisionFx:


Who is paying u to type this nonsense? Or is it just plain ignorance?

So Nigeria should have a seemingly unending Crude oil reserves and at the same time pay 350 naira per litre like countries that don't have crude oil? Gosh

Sirjamo:
There was no subsidy/under recovery when oil price was $40/b. Subsidy returns when oil prices began to rise above $50, crude prices are directly proportional to the landing costs of refined petroleum products

theenchanter:
we're still paying subsidy, dont get it twisted, we're not just paying over bloated figures quoted by oil marketers, nnpc is the now d sole importer of petroleum in d country.

On buying fuel ×2 d former price... dont u know we import petrol from international markets were the currency used is dollar $? How much was dollar before n now? Has naira not doubled against d dollar? how's subsidy payment more than doubled? Our subsidy payment before this administration was over 1trillion, are we now paying more or less?

tactius:


So that investment flows in , and the profits made can be used to invest in stuff like refinereis, etc, and government saves money

That is why subsidy removal works.

Thanks.