Wiseandtrue:
The official removal of fuel subsidy which led to the increment of fuel pump price from N87 to N145

Then the continuity in paying the SAME SUBSIDY is a testament that Buhari is fantastically corrupt!!!

Argue with facts!!!

Modified:


Was landing cost not there when it was sold for N87

Shuooooooo

Why didn't Buhari talk about this landing cost during GEJ regime because he was strongly opposing it due to the untold hardship it will bring to the citizens then

So what has changed What manner of hypocrisy is this

W&T...the problem is you do not understand how subsidy works like most Nigerians.

1.In 2016, landing costs was N132 per liter while the price of fuel was N87 per liter. Government was finding it difficult to pay the subsidy of N50 per literdue to very low oil prices...and there were queues as a result..as many marketers found it difficult to run functioning businessess.

2.The givernment icnreased prices to N145, ending the subsidy at that time....BUT THE FACT THAT THEY WERE STILL SETTING THE PRICE MEANT THERE WAS A SUBSIDY IN PLACE. (The only way for subsidy to go is for the government to remove itself from price setting mechanisms).

3.That was the state of things, till the landing cost went above N145 per barrel....to what it is now. Subsidy came back. Now if subsidy had gone, fuel would have been costing N200 and above since government is no longer paying any thing called subsidy, meaning marketers and depot managers are now responsible for paying for fuel, and the trasport thereof.


4.In 2012, landing cost was N99, fuel was N65. GEJ tried to remove the subsidy by rasing prices to N140 per liter. Poeple protested, prices went down to N97 per liter by government order., meaning that the government was paying N2 per liter. Unfortunately, bnecause we improt about 80% of our fuel, the landing cost kept on going up...till in 2016 when it was N132 per liter, and the price was N87 per liter...meanwhile oil prices had gone down from $100 and above in 2012 to $30 in 2016.

5.And the reason why we import fuel is because investors are not going to come and build a refinery, refine fuel above 150 naira per liter...and then sell it at N145 or less, meaning they would be operating at a loss. (That's why of the 60 private refinery licences, less than 5 are actually building something.).

6.Because of subsidy, we are now spending N1billion a day, money that could have been spent on education or health...is spent subsidising a prodiuct...and as well as subsidising corruption and mess in the NNPC.

That is why subsidy has to go, it isn't sustainable anymore.

Kanade21:


Because if they remove subsides, the price of fuel would shoot up to as high as N200 or more per liter...leading to hike in costs of food, and goods and services...leading to inflation and possible economic crisis.

On the plus side, since people can now make profits, investors would flow in...leading to more jobs and more refinereis.(More people would be ready to build Dangote type refinereis.

At the end of the day, the country would benefit...but it would take a very long time. Nigerian governments don't have that time.

Plus, recently in Ecuador, the government removed fuel subsides...and there was fire on the streets. Government reversed the decision. Iran too is trying to remove 50% of subsidies, and even the government's explanation that it is all going for welfare projects isn't stopping protesters.

Are u an economist? You've justified the situation

bubu is the worst thing to ever happen to Nigeria since 1914. naija no even get direction, just moving back and forth no progress..

princealexndre:
Are u an economist? You've justified the situation

No I am no economist, and no, I have not justified anything.

I have just laid out the facts....as I see it.

And to me, it would be beneificial to Nigeria if subsidy goes...and I have been backing this thing since 2011. (Long before Buhari came along).

The thing is, people don't want to pay higher for food. That's why subsidy, even though it is wrecking our economy , is supported.

But it has to go. You can call me an opressor, you can call me all the names you want to call me, I ain't even a Buharist, gejist, or whatever....our economy is suffering because of this subsidy. That 1 billion can go to education or health.

codedguy1:


That's where the problem is. Nobody trust these guys will use the saved subsidy money for anything positive.

Damn if we do damn if we don't. All the ones that they have saved from under recovery as they call it, recovered loot from Abacha and supposed corrupt people, can you pinpoint what they have done with it? Do you even know how much was recovered.

That's why you people have to use your democracy to fight for better accountability.

But you just sit down and let PDP and APC play you for pennies...

And don't ask me about government returned loot or whatever. I am not in government, I have never voted for PDP or APC and never will.

And I keep asking what has Buhari done better than GEJ in the last four years and still counting, I know the answer will be the same with mine but why hasn't the Ibadan express and western media criticizing it or writing inciting editorial on daily basis. The earlier we south south and other sane region rise up again this the better for us.

wonder233:
A buhari worshiper spotted

Point out where I said Buhari is the greatest thing since sliced bread...or hold your peace.

As for this subsidy thing, I have been backing it since 2011...that subsidy has to go.

And I don't even support PDP or APC , and have never voted for either of them. I awlays back one of the smaller parties.

mrvitalis:
We should not only reomove fuel subsidy petroleum should be taxed 70 naira per litre
Diesel should tax 120 per litre
Kerosene should be tax free

This what countries like Cameron ,kenya even Ghana are doing

Thunder fire you there

deolurexy1:


Thunder fire you there

And u want to be like dubai

Kanade21:


Well, that means we should keep on trhowing away trillion of naira on a subsidy project that is open to corruption, and makes it easier for smugglers to smuggle fuel across the broder, and sell for a profit.

If Niger, Benin, Ghana, and Cameroon can pay N300 per liter and above, so can we. Let's use that subsidy money for better things.

OGA they don't have crude oil like we do. Question you should ask your self is why we a still importing PMS?

.

deolurexy1:


OGA they don't have crude oil like we do. Question you should ask your self is why we a still importing PMS?

Because no one is going to come and refine fuel at N150 and above per liter, and sell it below the produciton price under subsidy regimen.

Plus, Cameroon, Benin and even Niger have crude oil too. And they are as poor or even poorer than we are.

Another thing...oil prices need to be above $100 and above per barrel before we can enjoy a surplus budget sans borrowing. Oil has been below $75 since 2014

Is this not wasteful and criminal??

Spot this buhari worshiper trying to surreptitiously defend his 'God', but attempting to do so in such a way as not to make the masses angry

Kanade21:


That's because the landing cost in 2016 was at N132 per liter, while we were selling it at N87. At the same time, crude oil prices were at an all time low of $32 per barrel. There were queues all over the place because government could no longer afford to pay the difference of N50 per liter.

So Government supposedly removed subsidy by taking the price to N145. Meaning they no lonmger had to pay any cash....until the landing cost went above N145...to what it is today.

At that point, government brought back subsidy.

If you understand how subsidy worked, you would have seen that government was lying when they said subsidy must go. So long as government is setting the price...there is a subsidy. That's why I did not believe the lie.

You're two-faced. It would be better you just shut up like your wise fellow worshippers have done

Kanade21:


Point out where I said Buhari is the greatest thing since sliced bread...or hold your peace.

As for this subsidy thing, I have been backing it since 2011...that subsidy has to go.

And I don't even support PDP or APC , and have never voted for either of them. I awlays back one of the smaller parties.

wonder233:
You're two-faced. It would be better you just shut up like your wise fellow worshippers have done

wonder233:
Spot this buhari worshiper trying to surreptitiously defend his 'God', but attempting to do so in such a way as not to make the masses angry

Good afternoon....

I have noted your comments...now here is my reply

1.I have been watching this subsidy thing since 1993....and was a supporter of subsidy till 2011.

2.In 2011...thanks to the information given by the GEJ government, not only did I back subsidy removal, but I completely did a U turn on years of held beleif.

3.And why should I support Buhari who in 2011 was marching against subsidy, and thanks to his support for not removing subsidy, the GEJ government was forced to maintain a programme that was not good for our economy, as you can see now.(Infact see my previous posts for how subsidy messed up our economy).

I mean, in 2011...I was for subsidy removal. Buahri and his gang were against subsidy removal. So, how can I be a buharist.??

4.And I don't like Buhari or PDP. Yes, I am one of those Nigerians who never gets to see the type of government he or she wants in office. Since 1999....not one of the governments that has been elected has made me happy.

5.If Buahri removes susbdiy, and allows marketers to set the price, maybe I might change my mind about him. But the thing is, I also happen to think that people like Obasanjo and Buhari have no business running Nigerian again in the first palce.


You are calling me a Buharist because you do not understand how subsidy works. I did not like GEJ, but thanks to him, I saw some sense and started doing some actual reading about the whole subsidy thing.

Infact, most Buharists would stone me for holding the views I hold. And Buhari is going to keep subsidy. Because he does not want to be thrown out of office, even though the thing is chopping our economy.

Indeed that is why no Nigerian leader, with the exception of GEJ has attempted a full scale removal of subsidy., High food prices are too much of a risk.

Good afternoon. You are free to abuse me all you want. But as far as I am concerend, subsidy must go. It is the only sensible decison any government can make. We cannot waste billions on corruption in NNPC.

P.S

1.Again, I don't care for PDP and APC. As far as I am concerend, they are two sides of the same coin.

2.Subsidy has to go, so that we can have icnreased investment in refineries and build more...since the investors would no longer be hindered by governemnt setting prices. Jobs would be created too.

3.NNPC also needs to be sold, and privatised.

wonder233:
Spot this buhari worshiper trying to surreptitiously defend his 'God', but attempting to do so in such a way as not to make the masses angry

You know, the funny thing is that those of us who supported subsidy removal in 2011 were labelled PDP supoprters, and GEJ slaves., even when we weren't.

Dude, just say you don't like subsidy removal. I have no problem with that.

Fake president

Kanade21:


That's why you people have to use your democracy to fight for better accountability.

But you just sit down and let PDP and APC play you for pennies...

And don't ask me about government returned loot or whatever. I am not in government, I have never voted for PDP or APC and never will.

It is now YOU PEOPLE that should fight using democracy abi. Do you even know if I am in Nigeria? Please stop assuming with that tone. We were having a simple conversation.

And what makes you think I am into APC/PDP nonsense.

codedguy1:


It is now YOU PEOPLE that should fight using democracy abi. Do you even know if I am in Nigeria? Please stop assuming with that tone. We were having a simple conversation.

And what makes you think I am into APC/PDP nonsense.

Sorry, it is just that I am tired of hearing people moaning about 'the government' every day, and then on election day, na to line up behind PDP and APC.

Plus this subsidy thing is keeping away investors who would like Dangote build more refienries. That's why I am keen on having it removed...it means more jobs in the long run.

The problem is, Nigerians cannot see that.

Kanade21:


Well, that means we should keep on trhowing away trillion of naira on a subsidy project that is open to corruption, and makes it easier for smugglers to smuggle fuel across the broder, and sell for a profit.

If Niger, Benin, Ghana, and Cameroon can pay N300 per liter and above, so can we. Let's use that subsidy money for better things.

Are you guys coursed ntori oloun...So you’re gonna compare a Country with one of the highest crude oil deficits with Niger, Benin, Ghana and Cameroon?? ��

What happened to all the promises of fixing the refineries? Mehn, Nigerians thou. Smh.

keep enjoying yourselves northerners, I just want to remind you that crude oil is a non renewable resource, one day Niger delta oil will finish so that this "one Nigeria" I will not hear it again

Kanade21:


Sorry, it is just that I am tired of hearing people moaning about 'the government' every day, and then on election day, na to line up behind PDP and APC.

Plus this subsidy thing is keeping away investors who would like Dangote build more refienries. That's why I am keen on having it removed...it means more jobs in the long run.

The problem is, Nigerians cannot see that.

There is more to it and right now its not that simple.

Coming out on election day can be suicidal in Nigeria. Kogi and Rivers state 2019.

PDP/APC are birds of a feather because our politicians crisscross parties with impunity and without shame and would find a way to stifle any attempt by a supposedly qualified and intelligent person who is ready to do the right thing.

I have nothing against removal of subsidy but if it is done the wrong way then we will be worse off because these guys will always find a way to satisfy their selfish needs at the detriment of the people.

From the time of Obasanjo till now we have heard how deals and contracts are signed like the p&d gas deal where it seems officials sell off the country for monetary gains.

Its terrible.

Victorex001:


Are you guys courses ntori oloun...So you’re gonna compare a Country with one of the highest crude oil deficits with Niger, Benin, Ghana and Cameroon?? ��

Well, we produce a lot of crude, but our large population makes the money meaningless.

As an example, Pakistan and New Zealand have the same GDP. Pakistan is poorer because of their high populaiton

Corruption makes things worse.

What happened to all the promises of fixing the refineries? Mehn, Nigerians thou. Smh.

Basically, subsidy means that anyone refining petrol in Nigeria is going to be selling at a loss. (which is why Dangote refinery is not going to 'save us'..plus Dangote took loans guaranteed by government to build his refienry, and the banks were pleased to lend to him).

Plus, if the refienreis are fixed...remeber the last one of them was built in 1988. So, with all of them operating at full capapcity, the amount they would produce won't be enough to meet our needs.

With subsidy removal, since government is no longer controlling prices, people would come in and build more refienreis without goverment paying any money. Because now they can make a profit. The problem is, prices would go up....but the comeptiton should bring it down.

what is subsidy? - Buhari in 2014

helinues:
Which subsidy again

You can ask your brain dead president.

Zombie will always remain one, save the cure by reality of hunger.

Las las, everybodi go become wailer.

hmmmm

How much is a refinery.



Oga how much will it cost?


God punish devil

poiZon:
U can't see seunmsg for this kind thread.
Nigerians esp those ones from that side r full of hypocrites.

Lol... were you expecting him comment on this kind of thread? If it isn't eulogising the current government he won't show up.