PrecisionFx:


No, that is a devilish way to remove subsidy.


We can build our own refineries n withdraw subsidy as our local refining pics up pace. They said we have 45 billion dollars in our Foreign reserve, just 12 billion dollars from there can land us 6 refineries in each geopolitical zone, with each processing 75 thousand barrels daily.......We are supposed to buy gasoline @ a cheap cost, like 36 naira per litre

One refinery costs 9bn dollars.

Also, we cannot use the reserve. That would be bad for our economy

tactius:


One refinery costs 9bn dollars.

Also, we cannot use the reserve. That would be bad for our economy

Pls show me proof that a refinery that processes 75k barrels daily costs 9 billion dollars.

While u are @ it, prove to me how using part of the reserve is bad for the economy?

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.

you will suffer before you enjoy later not we.

bilulu:

Not all Nigerians have short term memory, it was clearly spelled out that subsidy has been removed reason it was nolonger budgeted for. It was celebrated by all of u till when Dino burst the bubble again.... if actually the importers hiked their prices and it was still sold at #87 how come now dat it's only NNPC dats not hiking price we are buying at x2. don't forget how much we were paying for subsidy when Buhari and Co were shouting back then and how much we re paying now?

The price of oil is never stable. Today, it can be $35, tomorrow $70. At $35, there's no subsidy if the price is 145 for instance but at $70, there will be a subsidy if the price still remains 145.

Also, the exchange rate issue is there. Price of oil is priced in dollars. If today, the value if the Naira is 209 to $1, there may be no subsidy but at 360, there will be