Newboss:
Let them remove it so that all these ignorant noise makers will feel the full force of every tiny change in fuel procurement costs. SMH.

These people talking won't even have MB to post anything because Nigeria runs on generators. Businesses will tell all of you 'welcome to reality'.

Nigerians always groan when someone gets paid but they never consider what would have happened if those persons never got paid.

it could have better to remove subsidy than still paying it so that all of us can suffer for it once and for all it won't be like many people were suffering while few people were enjoying the benefit of paying it. No pains no gain

ChiefkeefGB4:

Buhari is no different from Abacha when it comes to corruption

Honestly

Buhari is a THIEF like any other nig politician!

Otunba2004:
it could have better to remove subsidy than still paying it so that all of us can suffer for it once and for all it won't be like many people were suffering while few people were enjoying the benefit of paying it. No pains no gain

Mind what you wish for.

Almost every government owned venture in Nigeria is subsidised. Federal universities are subsidised. Healthcare is subsidised.

In a free market, there's nothing like "once and for all". Things can go from 0 to 100 in a single day. US residents know the meaning of that. Nigeria is one of the cheapest places to live.

Whether they remove it or not, it won't make the rich poor. These guys have made their money because there's economy of scale in oil business. They're not "greedy" as most people say. Moving one tanker of fuel is literarily "blood money" anywhere in the world. This is business. Otedola and co didn't "exploit" Nigeria. They simply offered a service at a reasonable price per liter.

They should please remove all the subsidies in Nigeria let everyone pay 100% for anything they purchase. Let's see the poor see the meaning of gross poverty.

Here is why subsidy is skyrocketing

1.The number of end users of petrol is increasing, thus as a result the amount of money needed to keep the price of fuel at 145 naira has to go up.

And it isn't just for cars, petrol is used for generators which we are reliant on because quite frankly power is bad. (for a host of reasons)

2. And, as the numbers of end users goes up, so also does the amount needed for subsidy. People are going to buy vehicles, start businesses etc that in one way or the other need fuel (Unless someone has invented a very efficient solar panel)

3.Election time is a time of increased movement, increased business activity and increased buying. And all these things need more fuel. More money needed for subsidy.

4.The fuel price seems high because of low oil prices, which means less dollars flowing in, which means the value of the naira drops(which is why landing costs and subsidy cost is going up).

5.And let's be honest. Subsidy is a very corrupt institution, largely because most marketers are being forced to sell below profit, IE at a loss. So, in order to make ends meet, stealing becomes legal. (There is some truth in GEJs stealing is not corruption line, because if you are not making false subsidy claims, your business could go under in minutes. You would be running things at a loss). Of course there is the stealing going on as well,and I won't be surprised APC guys too are taking their cut of the loot.

6.Solution..
Remove the subsidy. Allow marketers to sell fuel at the price they want, which while it means high fuel prices in the interim, also means more investment, more refineries, increased production and much more jobs, and eventually a drop in fuel price

This happened in the GSM industry. It could happen in the petroleum industry, and could improve power generation among other things.


The Naijafull

AirBagi:
I hope this is a misinformation, why don't they just remove this subsidy of a thing and stop scamming us, this country really is a shit hole, and we put ourselves in the mess, with the help of the western world, God help us all, but we must help ourselves first

Didn't they remove it in 2016 ?

Naijafull19:
Here is why subsidy is skyrocketing

1.The number of end users of petrol is increasing, thus as a result the amount of money needed to keep the price of fuel at 145 naira has to go up.

And it isn't just for cars, petrol is used for generators which we are reliant on because quite frankly power is bad. (for a host of reasons)

2. And, as the numbers of end users goes up, so also does the amount needed for subsidy. People are going to buy vehicles, start businesses etc that in one way or the other need fuel (Unless someone has invented a very efficient solar panel)

3.Election time is a time of increased movement, increased business activity and increased buying. And all these things need more fuel. More money needed for subsidy.

4.The fuel price seems high because of low oil prices, which means less dollars flowing in, which means the value of the naira drops(which is why landing costs and subsidy cost is going up).

5.And let's be honest. Subsidy is a very corrupt institution, largely because most marketers are being forced to sell below profit, IE at a loss. So, in order to make ends meet, stealing becomes legal. (There is some truth in GEJs stealing is not corruption line, because if you are not making false subsidy claims, your business could go under in minutes. You would be running things at a loss). Of course there is the stealing going on as well,and I won't be surprised APC guys too are taking their cut of the loot.

6.Solution..
Remove the subsidy. Allow marketers to sell fuel at the price they want, which while it means high fuel prices in the interim, also means more investment, more refineries, increased production and much more jobs, and eventually a drop in fuel price

This happened in the GSM industry. It could happen in the petroleum industry, and could improve power generation among other things.


The Naijafull

You are wrong

This happened under the most corrupt Minister of Petroleum ever...... Industrial scale looting.

Babaheekmat:


He was made.. not he did that himself.

He's a puppet. Am sure you know better

Nah, make no mistake...buhari may be suffering from Alzhiemers, but he knows exactly what he's doing.

None of his behaviours for the last 4 years is strange to who buhari have always been

lexy2014:


Pls explain y Despite low oil price under-recovery or subsidy rose by N190bn in two months. Also explain y d refineries aren't working despite billions allocated 4 its maintenance

ALL the refineries have completed its life span and are all comatose, Nigeria needs to decommission 4 of dem are build new ones. The life span of an oil refinery is an average if 30 years.

Subsidy payments can rise by any figure because theres no accurate way to determine exactly how many metric tons of kerosene,. Gasoline or diesel we import daily.

PrecisionFx:


ALL the refineries have completed its life span and are all comatose, Nigeria needs to decommission 4 of dem are build new ones. The life span of an oil refinery is an average if 30 years.

Subsidy payments can rise by any figure because theres no accurate way to determine exactly how many metric tons of kerosene,. Gasoline or diesel we import daily.

When subsidy payment increase by 1,174%, there must a reason 4 it. What I expected from u was an explanation for such a huge increase within d space of two months. What u gave isnt an explanation. Pls explain y there was an increase of that magnitude. If it can't b explained, then it is a scam.

Abadan refinery in Iran. Commissioned 1912. Still functioning till date.

Baton Rouge refinery in d US. Commissioned 1909. Still functioning till date.

Garryville refinery, USA. Commissioned 1976. Still functioning till date.

Baytown refinery, USA. Commissioned 1919. Still functioning till date.

Paraguana refinery, Venezuela. Commissioned 1949. Still functioning till date.

Team refinery, Ghana. Commissioned 1960. Still functioning till date.

Zawiya refinery, Libya. Commissioned 1974. Still functioning till date.

Natref refinery, South Africa. Commissioned 1971. Still functioning till date.

So I don't understand where u got ur information from that refineries can't function after 30years. Mind u SA that doesn't have oil& has a population of 56million, has 6 functioning refineries. India still without oil, has d largest refinery in d world. Bros, don't defend what u can't defend

FarahAideed:


You must be a joker

You must be a mahatma.

FYI, please either refute my points, or say something else. I did not insult you, you chose to insult me. I made my point without abuse.

lexy2014:


When subsidy payment increase by 1,174%, there must a reason 4 it. What I expected from u was an explanation for such a huge increase within d space of two months. What u gave isnt an explanation. Pls explain y there was an increase of that magnitude. If it can't b explained, then it is a scam.

Abadan refinery in Iran. Commissioned 1912. Still functioning till date.

Baton Rouge refinery in d US. Commissioned 1909. Still functioning till date.

Garryville refinery, USA. Commissioned 1976. Still functioning till date.

Baytown refinery, USA. Commissioned 1919. Still functioning till date.

Paraguana refinery, Venezuela. Commissioned 1949. Still functioning till date.

Team refinery, Ghana. Commissioned 1960. Still functioning till date.

Zawiya refinery, Libya. Commissioned 1974. Still functioning till date.

Natref refinery, South Africa. Commissioned 1971. Still functioning till date.

So I don't understand where u got ur information from that refineries can't function after 30years. Mind u SA that doesn't have oil& has a population of 56million, has 6 functioning refineries. India still without oil, has d largest refinery in d world. Bros, don't defend what u can't defend

Don't waste my time Mr pointless.

The life span of a crude oil refinery is 30 years, after that it is decommissioned n new ones built.

ALL the refineries u listed have been rebuilt several times over the last 100 years. If u want to use ur sense, what u needed to find out is the average life span of an oil refinery.







""Mind u SA that doesn't have oil& has a population of 56million, has 6 functioning refineries. India still without oil, has d largest refinery in d world. Bros, don't defend what u can't defend""


Ur talk about SA n India is completely useless m unconnected with anything I have ever said on this post.


Is inside ur head paining u? Where did I defend Nigeria n her stupidity in my post?

Naijafull19:


You must be a mahatma.

FYI, please either refute my points, or say something else. I did not insult you, you chose to insult me. I made my point without abuse.

I am working right now bro when I am through I will refute all your points sir

AirBagi:
I hope this is a misinformation, why don't they just remove this subsidy of a thing and stop scamming us, this country really is a shit hole, and we put ourselves in the mess, with the help of the western world, God help us all, but we must help ourselves first

removing it will be better but dis will have a thorny impact on average man...how many times will the dullard remove it, dont forget he raised if from 87 to 145...second removal can trigger the needed revolution for dis country to better.. they Re wary too even though some thieves thrive on the subsidy system.buhari na bastard and badluck

Naijafull19:


You must be a mahatma.

FYI, please either refute my points, or say something else. I did not insult you, you chose to insult me. I made my point without abuse.

He said ur joking nah, na insult

Weldon Mr president

PrecisionFx:



Don't waste my time Mr pointless.

The life span of a crude oil refinery is 30 years, after that it is decommissioned n new ones built.

ALL the refineries u listed have been rebuilt several times over the last 100 years. If u want to use ur sense, what u needed to find out is the average life span of an oil refinery.

No need to spill ur emotions. If u can't explain y an increase of more than 1000% on subsidy payment isn't a scam, then say so. There's no shame in it.

Am sure u are familiar with d term turn around maintenance. When last did any Nigerian refinery get a TAM? D refineries aren't down because of their lifespan. They are down because they weren't properly managed& maintained. During TAM, parts that need repairs are repaired. Parts that need upgrade are upgraded especially due to technological advancement. Expansion is done where necessary. That is d reason 4d longevity of d refineries i mentioned. I also gave u instances of refineries that were commissioned in 1971, 74 and 76. They weren't decommissioned& rebuilt. They are still functioning. Its not an issue lifespan oga.

PrecisionFx:


Nah, make no mistake...buhari may be suffering from Alzhiemers, but he knows exactly what he's doing.

None of his behaviours for the last 4 years is strange to who buhari have always been

Even during the time he was the head of state.. he's just a figure head. Agunyi Irosi is the real ruler.

Buhari should not be blamed at all.. blame it all on democracy

FarahAideed:


I am working right now bro when I am through I will refute all your points sir

Next time, don't insult me please.

Thank you.

Naijafull19:


Next time, don't insult me please.

Thank you.

Haba joker is not an insult na .Oya forgive and forget

PrecisionFx:



Don't waste my time Mr pointless.

The life span of a crude oil refinery is 30 years, after that it is decommissioned n new ones built.

ALL the refineries u listed have been rebuilt several times over the last 100 years. If u want to use ur sense, what u needed to find out is the average life span of an oil refinery.







""Mind u SA that doesn't have oil& has a population of 56million, has 6 functioning refineries. India still without oil, has d largest refinery in d world. Bros, don't defend what u can't defend""


Ur talk about SA n India is completely useless m unconnected with anything I have ever said on this post.


Is inside ur head paining u? Where did I defend Nigeria n her stupidity in my post?

This is ur comment:

"There is no possibility of the scam if we buy petrol directly according to the available price in the international market"

Isn't this a defense? My point about south Africa and India are very relevant cos I asked u to explain y we don't have functional refineries. If non-oil producing countries can have functional refineries in excess of ours, then i dont c y "lifespan" should b an issue.

Lastly, don't condescend 2d level of mediocrity because u want 2 express urself. U can always make ur point without being belligerent. No one is fighting u. U can always exhibit civility& maturity. Its not that difficult

ivandragon:
Over 120% increase in two months...


Lol.

And the increase just happened right around election period...

lexy2014:


This is ur comment:

"There is no possibility of the scam if we buy petrol directly according to the available price in the international market"

Isn't this a defense? My point about south Africa and India are very relevant cos I asked u to explain y we don't have functional refineries. If non-oil producing countries can have functional refineries in excess of ours, then i dont c y "lifespan" should b an issue.

Lastly, don't condescend 2d level of mediocrity because u want 2 express urself. U can always make ur point without being belligerent. No one is fighting u. U can always exhibit civility& maturity. Its not that difficult

"" I asked u to explain y we don't have functional refineries.""


Are u normal? Why are u asking me why Nigeria's refineries are not functioning? , Do i look like the minister for petroleum?

Babaheekmat:


Even during the time he was the head of state.. he's just a figure head. Agunyi Irosi is the real ruler.

Buhari should not be blamed at all.. blame it all on democracy

U mean Tunde Idiagbon n not Ironsi.

Tunde Idiagbon didnt destroy the Nigerian economy between 1983/1985. Buhari did

""Buhari should not be blamed at all.. blame it all on democracy""

I'm lost here .

lexy2014:


No need to spill ur emotions. If u can't explain y an increase of more than 1000% on subsidy payment isn't a scam, then say so. There's no shame in it.

Am sure u are familiar with d term turn around maintenance. When last did any Nigerian refinery get a TAM? D refineries aren't down because of their lifespan. They are down because they weren't properly managed& maintained. During TAM, parts that need repairs are repaired. Parts that need upgrade are upgraded especially due to technological advancement. Expansion is done where necessary. That is d reason 4d longevity of d refineries i mentioned. I also gave u instances of refineries that were commissioned in 1971, 74 and 76. They weren't decommissioned& rebuilt. They are still functioning. Its not an issue lifespan oga.

""If u can't explain y an increase of more than 1000% on subsidy payment isn't a scam, '"'

I am completely lost...

PrecisionFx:




"" I asked u to explain y we don't have functional refineries.""


Are u normal? Why are u asking me why Nigeria's refineries are not functioning? , Do i look like the minister for petroleum?

Where u d minister of petroleum when u said this?:

"There is no possibility of the scam if we buy petrol directly according to the available price in the international market"

PrecisionFx:




""If u can't explain y an increase of more than 1000% on subsidy payment isn't a scam, '"'

I am completely lost...

Pls b found cos u are only a victim of ur own words:

"There is no possibility of the scam if we buy petrol directly according to the available price in the international market"

"Subsidy payments can rise by any figure because theres no accurate way to determine exactly how many metric tons of kerosene,. Gasoline or diesel we import daily."

According to u, there's no way to determine how much product Nigeria imports, yet u say its not a scam

Newboss:

Mind what you wish for.

Almost every government owned venture in Nigeria is subsidised. Federal universities are subsidised. Healthcare is subsidised.

In a free market, there's nothing like "once and for all". Things can go from 0 to 100 in a single day. US residents know the meaning of that. Nigeria is one of the cheapest places to live.

Whether they remove it or not, it won't make the rich poor. These guys have made their money because there's economy of scale in oil business. They're not "greedy" as most people say. Moving one tanker of fuel is literarily "blood money" anywhere in the world. This is business. Otedola and co didn't "exploit" Nigeria. They simply offered a service at a reasonable price per liter.

They should please remove all the subsidies in Nigeria let everyone pay 100% for anything they purchase. Let's see the poor see the meaning of gross poverty.

See we are talking of integrity issue here and deceit.
The FG lied in 2016 that it had completely removed fuel subsidy, that fuel subsidy is a fraud which previous regimes used to loot public funds.

The even made the alleged fuel subsidy removal to justify increasing pump price from 97 to 145 per litre,
Only for us to find out that fuel subsidy is still being paid.

So now you expect us to keep quiet and just accept any nonsense they throw at us, government of lies to the liars.

AirBagi:
I hope this is a misinformation, why don't they just remove this subsidy of a thing and stop scamming us, this country really is a shit hole, and we put ourselves in the mess, with the help of the western world, God help us all, but we must help ourselves first

How many times will they remove subsidy? Or was it not subsidy removal that pushed pump price of PMS from #87 to #145?

PrecisionFx:


U mean Tunde Idiagbon n not Ironsi.

Tunde Idiagbon didnt destroy the Nigerian economy between 1983/1985. Buhari did

""Buhari should not be blamed at all.. blame it all on democracy""

I'm lost here .

Democracy is not the answer to governance. Sharia is. Divine law is..


Like I said, buhari was figure head then.. he actually didn't destroy anything

Babaheekmat:


Democracy is not the answer to governance. Sharia is. Divine law is..


Like I said, buhari was figure head then.. he actually didn't destroy anything

U mean Nigeria should switch to totsl sharia governance?