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Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ - Politics - Nairaland

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Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by ijustdey: 8:33am On Jul 11
Governors have described as unsustainable, payment of oil subsidy to marketers by the Nigeria National Petroleum Corporation (NNPC).

The governors called on the federal government to do away with it, saying fuel subsidy is a drain on the nation’s resources.

Kayode Fayemi, chairman of the Nigeria Governors’ Forum (NGF), made the demand when he led a delegation to Mele Kyari, the new group managing director of the corporation.

He said subsidy remains a major drawback on government revenues, adding that there is need to consider a new deal on how government will absorb its cost.

This he said has become necessary given the new reality of low oil revenues and rising government commitments.

“It is important to highlight that subsidy remains a major drawback on government revenues. We may need to consider a new deal on how governments will absorb the cost of subsidy,” he said.

“This has become necessary given the new reality of low oil revenues and rising government commitments. We believe that at the current course, subsidy costs will continue to offset any recovery in the oil market. The country recorded one of its lowest cost of subsidy in 2016 when oil traded at an average of US$48.11 pb. Total subsidy that year was around N28.6 billion; but the amount rose to N219 billion in 2017 and N345.5 billion by mid-2018, as the price of oil and domestic PMS consumption rebounded.These are important considerations for us, with direct implications on energy security and economic stability in the country.”

The NGF chairman said having worked with Kyari when he was minister of mines and steel, he believes that the NNPC GMD is a man of integrity who would deliver on his promises to the nation.

Governors are the latest to oppose fuel subsidy. Last month, Muhammadu Sanusi, emir of Kano, asked President Muhammadu Buhari to end fuel subsidy. He had said “N1.5 trillion on subsidy is N1.5 trillion out of education“.

Six days ago, Stuart Symington, US ambassador to Nigeria, also advised the federal government to get rid of fuel subsidy.


https://www.thecable.ng/continuous-payment-of-oil-subsidy-not-sustainable-say-governors

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Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by IkalaiyeLOTO: 8:47am On Jul 11
angry
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by FarahAideed: 9:44am On Jul 11
Which subsidy are they talking off ? Buhari has said he is not doing subsidy at all but under recovery which is not subsidy

14 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Nobody: 11:45am On Jul 11
Yes, it isn't
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by NLSavage: 11:45am On Jul 11
Naija which way?
God Punish anybody that voted the dullard in.
All he cares about is Cows, Cows and more Cows!!
Very confused government
angry

22 Likes 2 Shares

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Nobody: 11:46am On Jul 11
FarahAideed:
Which subsidy are they talking off ? Buhari has said he is not doing subsidy at all but under recovery which is not subsidy

It is subsidy...the government was using dobule speak then

So long as they are setting prices...there is a subsidy.

Until they stop setting prices, that's when we know there is no subsidy.

4 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Muyiwaipere(m): 11:46am On Jul 11
A
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by ibietela2(m): 11:46am On Jul 11
Since 2012 this poo is getting removed?

1 Like

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Graduateacher(f): 11:46am On Jul 11
Buhari said subsidy is a scam so which subsidy are they talking of again?

14 Likes 1 Share

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by KidsNEXTdoor: 11:47am On Jul 11
Which subsidy are they talking about?

4 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by gabicon: 11:48am On Jul 11
We better brace up for subsidy removal and start holding our leader accountable. The biggest mistake we made was not allowing OBJ to remove it and sell PMS at =N=100.

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Plutonium(m): 11:48am On Jul 11
Now they lost LGA funds to steal from, they're starting to think.

10 Likes 1 Share

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by gurunlocker: 11:51am On Jul 11
The same subsidy Buhari removed 4 years ago while increasing pump price?

They have already started planning to increase it again.

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Benekruku(m): 11:53am On Jul 11
In actual reality.

It's not.

The middle class will bear the brunt
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by pat077: 11:53am On Jul 11
Why don't u kick against your security vote and the bogus allowances you receive.
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Dottore: 11:53am On Jul 11
why cant they issue licences for modular refineries so that the refining of crude oil will be done locally and competitively

4 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Commentor: 11:54am On Jul 11
End subsidies today.

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Balkan(m): 11:55am On Jul 11
This is very interesting. This next level will be so sweet. Thank God no spacial petrol station for zombies.
I miss Dugara and Saraki who could have kicked against this inhuman behavior of APC

What we have now is Rubber Stamp speaker.
well, Tinubu will cancel all these when he becomes president 2023 grin grin grin grin grin

1 Like

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by maybachmusic(m): 11:56am On Jul 11
joytowatch:
With or without subsidy, I will still buy my own car in this country...click "like" if you desire this


Is car a goal?

undecided

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Macgyver1: 11:56am On Jul 11
FG will keep paying fuel subsidy, until our refineries starts working.

1 Like

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by AroOkigbo(m): 11:57am On Jul 11
So there is still subsidy?
What was the reason the gave for moving the price from #87 to #145?
Scam everywhere- even in high places.
Gosh

1 Like

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by Samuelpluto: 11:57am On Jul 11
stupid governors, when they ain't buying pms, why won't u say they should remove subsidy. abeg leave subsidy and let Nigeria bankrupt jejely

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by KidsNEXTdoor: 11:58am On Jul 11
Benekuru.....


You must enjoy the next level

There is nothing like middle class under Buhari... It's either rich or poor
Benekruku:
In actual reality.

It's not.

The middle class will bear the brunt
Benekruku:
In actual reality.

It's not.

The middle class will bear the brunt

2 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by mrvitalis(m): 11:58am On Jul 11
Finally
Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by VillagePipu: 12:00pm On Jul 11
joytowatch:
With or without subsidy, I will still buy my own car in this country...click "like" if you desire this

By the time you buy your car, you'll be urinating inside the fuel abi?

1 Like

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by SolarKing247: 12:00pm On Jul 11
Upon the stress and unprecedented suicide rate, the wicked wants to still add to the problem of citizens. angry

3 Likes

Re: Governors Kick Against Fuel Subsidy, Say ‘It’s Not Sustainable’ by pat077: 12:00pm On Jul 11
Samuelpluto:
stupid governors, when they ain't buying pms, why won't u say they should remove subsidy. abeg leave subsidy and let Nigeria bankrupt jejely
at least we go know wettin cause d bankruptcy

(1) (2) (Reply)

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