Prinnce1:
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.

Exactly. If it was Jonathan who increased petrol price to 145 Naira the media and the people on the street would have gone berserk. Here Buhari pays humongous figures for same subsidy he criminalized as a presidential aspirant, increased petrol pump price and acts like nothing happened, yet Nigerians are quiet. In fact, Nigerians are afraid to voice out.

Hmmm, subsidy scam. During GEJ APC staged a peaceful demonstration against subsidy removal, they get into power and removed subsidy. After sometimes, they devalued our Naira which they failed to realize would affect the landing cost. Thus, Naira is down, petrol is up, Diesel and Kerosene beyond comment, subsidy is back, masses are groaning...
again they want to make wayo to increase petrol pump price.

Hmm...

Racoon:

Buhari and the APC government is the biggest monumental scam and fraud ever seen in Nigeria

Nigerians are the biggest mugun to fall fall for their scam

Make we hail Una na abi.

Mumu no fit build/fix refinery...

overall90:


you know the drill.
but these people said that the daily PMS consumption have dropped due to the border closure and so it's expected that the daily subsidy payments should drop but it seems that the reverse is the case.

chronic liars are expected to have good memories but in their case reverse is the case

Racoon:

https://punchng.com/nnpc-spends-n1bn-daily-petrol-subsidy-hits-n19-37-litre/

subsidy payment is now like ijebu garri according to Dino.

mrvitalis:

It takes someone with above average knowledge in economics to understand me ...so not surprised u don't

If you have any knowledge of economics, you should have known that PMS is in the category of public goods, a necessity, judging by our epileptic power situation. You can not tax fuel consumption when almost all businesses depend on it for survival. I'm quite sure, more than half of our daily fuel consumption is used in running power generators.
You're quick to mention Ghana and Kenya. How many homes and businesses run on generators?
Lets be realistic at once. It doesn't hurt.

Kanade21:


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.



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.

Very apt,

Competition is not a guaranteed way to keep prices low, competitors can come together form a coalition to set high prices or general prices, rake in profits.
Telecoms operators probably do they same in Nigeria and in the US.

The only advantage would be creation of more jobs which may improve standard of living but probably just for a few people and short time.

DeOTR:

If you have any knowledge of economics, you should have known that PMS is in the category of public goods, a necessity, judging by our epileptic power situation. You can not tax fuel consumption when almost all businesses depend on it for survival. I'm quite sure, more than half of our daily fuel consumption is used in running power generators.
You're quick to mention Ghana and Kenya. How many homes and businesses run on generators?
Lets be realistic at once. It doesn't hurt.

Lol any body who runs business should have NP business buying fuel at that price ...I have a factory and if its for the good of road yes I would pay more ....

Are Ghanaians richer than Nigerians ?

Who has connection to NNPC.. i swear i need a job and i want to work there.

Kanade21:


So you expect fuel consumption to remain static over 5-8 years??

In trhe last 5-8 years, people have bought more cars, bought more generators..because power supply is bad and you know it., started businesses, and so on

So why won't fuel consumption go up from 30million to 60 million per day?

Unless it is still the year 2013 and no one told me??

Oil subsidy must go.

Corruption defenders.
Buhari said nobody is making millions again as against during gej regime, so how una dey tek buy cars?
Is it audio cars?
Power supply according to this govt have improved, some states resident by apc minnions can attest to this so where are those buying to fuel use it for?
Me i no buy car, infact plenty people wey i knw since 2014 never buy car. The ones wey bin get dey drive once in a while cos fuel price cost, so how do u justify this astronomical leap in quantity consumed daily.......
Discuss with ur childrens

mrvitalis:

Lol any body who runs business should have NP business buying fuel at that price ...I have a factory and if its for the good of road yes I would pay more ....

Are Ghanaians richer than Nigerians ?

You're getting my point.
Ghanaians are not using generators all day, we are.
No wonder it's cheaper to produce in Ghana and import into Nigeria and Nigerian government had to lock the border to protect local producers.
Let them impose a 50% tax on fuel consumption and let me see how many people will buy that your product.
If it's a product that has cheaper substitutes, you'll simply close shop.
In Nigeria, fuel is a public goods in the ranks of education and health, in Ghana and Kenya, it's not. That's the economic fact.

poiZon:

Corruption defenders.

So because I told you the truth that fuel supply cannot be remaing static, I am suddenly a corruption defender?

Okay..

Buhari said nobody is making millions again as against during gej regime, so how una dey tek buy cars?
Is it audio cars?
Power supply according to this govt have improved, some states resident by apc minnions can attest to this so where are those buying to fuel use it for?

1.The economy doesn't work that way.

2.Fuel isn't used for cars only, we use it for running generators, and a host of other things.

Business still has to be run despite harsh conditions.

3.FYI...I don't support Buhari. Nor do I like PDP either. I voted for the NCP when I was first able to, and have since then supported smaller parties...

Me i no buy car, infact plenty people wey i knw since 2014 never buy car. The ones wey bin get dey drive once in a while cos fuel price cost, so how do u justify this astronomical leap in quantity consumed daily.......
Discuss with ur childrens

So your economic conditions = the economic conditions of every Nigerian?

Plus, how do you know every Nigerian drives his or her car once a while?? Or if Nigerians were not buying cars, why is the import of cars still big busienss?? If Nigerians were not buying cars, would the importers of cars be still importing cars.

Now, that does not mean the economy is good. That I bought a car myself 2 years ago does not mean I am hailing Buhari. The fact is, Nigeria's economy is in a bad state because it is oil dependent....and removing subsidy is key to getting us off our oil dependency.

And I doubt that Buahri is going to remove fuel subsidy because like most polticans he wants to keep in power. Removing fuel subsidy means high prices for most everything...and polticans love to do everyhting to stay in power...

As for me....since 2011...oil subsidy must go. And back then they were calling people like me a GEJ slave. Now you are calling me a Buhari slave. Make up your minds , people!

Victory2222:
I taught we were told subsidy has being removed. When fuel increase from 97 to 145 naira

oh I weep for this country my friend. So what happened that it increased from 97 to 145 naira. Are we cursed in this geographical entity or what. Which subsidy are these people talking about again. Its not a curse but I don't see this country ever making progress with these set of leaders

Kanade21:


So because I told you the truth that fuel supply cannot be remaing static, I am suddenly a corruption defender?

Okay..



1.The economy doesn't work that way.

2.Fuel isn't used for cars only, we use it for running generators, and a host of other things.

Business still has to be run despite harsh conditions.

3.FYI...I don't support Buhari. Nor do I like PDP either. I voted for the NCP when I was first able to, and have since then supported smaller parties...



So your economic conditions = the economic conditions of every Nigerian?

Plus, how do you know every Nigerian drives his or her car once a while?? Or if Nigerians were not buying cars, why is the import of cars still big busienss?? If Nigerians were not buying cars, would the importers of cars be still importing cars.

Now, that does not mean the economy is good. That I bought a car myself 2 years ago does not mean I am hailing Buhari. The fact is, Nigeria's economy is in a bad state because it is oil dependent....and removing subsidy is key to getting us off our oil dependency.

And I doubt that Buahri is going to remove fuel subsidy because like most polticans he wants to keep in power. Removing fuel subsidy means high prices for most everything...and polticans love to do everyhting to stay in power...

As for me....since 2011...oil subsidy must go. And back then they were calling people like me a GEJ slave. Now you are calling me a Buhari slave. Make up your minds , people!

pls help me but when buhari govt increased fuel from 97 to 145 what did he remove cos am not understanding again

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

forget those criminals and those defending them

uwabuwa888:
When pms was 65 naira ..the country uses 35million litres per day..now the price is 145 naira, the country uses 65 million litres per day ..
This government is disproving the law of demand...

When the economy is booming in 2012 the quantity of pms supply was 35 million litres per day..now the economy is down, the supplies of pms increase to 65 million per day.. this government is disproving the law of supply..

One thing good about this country is...the people have the will to leave better life, but the leaders are blinded by their greed... forgetting where there's a will there's a way...

Time shall tell..

God bless you for your analysis. Nigeria is massively and brutally plundered before our very eyes daily and we pretend as though nothing is happening

shugaboy6102:
pls help me but when buhari govt increased fuel from 97 to 145 what did he remove cos am not understanding again

Have explained it before...but here we go again.

1.It costs N164 naira today to import a liter of fuel into the country...while we sell it at N145. Government pays a subsidy of N19 to keep prices that low.


2.In 2016, it cost N132 to import one liter of fuel into the country. Meanwhile fuel was being sold at the offical price of N87. The subsidy then was N43. However thanks to the fall in oil prices from $120 per barrel in April 2014 to $30 per barrel in January 2016, our revenue from exports of crude oil was falling , making it diffiuclt for government to keep on paying a subsidy.

Hope you are following me.

3.In 2016, government increased prices up to N145 per liter....meaning that instead of government paying N43 per liter of fuel to keep prices low, it paid nothing...and marketers earned a profit of N9 per liter. In other words, subsidy ended...at that point in time.....but not for long as you will soon see (and once again, if government is setting prices, there is a subsidy)

4.However, the crude oil price increased, and thus the import cost too went up to as high as N180 per liter of fuel in early 2018 but now it has come down to N164 per liter. In order to keep the price at N145 per liter, government pays a subsidy of N19 per liter of fuel.

That's the way of the matter.

N,B...I do not work for the government, nor do I support Buhari, GEJ or PDP or APC. I have however been a firm proponent of fuel subsidy removal since 2011. This disclaimer has become necessary because I am tired of being accused of being what I am not.

mrvitalis:

It takes someone with above average knowledge in economics to understand me ...so not surprised u don't

Pele eeyan pat utomi...mtchew!

Racoon:

Buhari and the APC government is the biggest monumental scam and fraud ever seen in Nigeria

To those who they deceived

Tell us how much you generate daily also