Well, I don't know the economics around the price it costs to refined a litre of fuel. But I think the government will not just wake up to implement arbitrary policies just to punish the citizens. Thank you

Saao:
thanks for your opinion, but can I remind you that, since buhari took over, he increased fuel from 87 to 145, what did they do with the differences in the increase? Secondly, are you saying individuals are powerful than government especially this buhari government that control other arm of government tyrannically? If any government wants to fail she resort to excuses as the case of this government. Nigerians are already in severe pain adding to their pains it's wickedness in high places. Government functioned as a palliative to the plight of her citizens not to impoverished them as in this government.

Yeah, GEJ's intent was a good one but the approach was wacky. Imagine empowering already rich folks at the detriment of the poor. That's why subsidy reinvestment policy of his administration failed. I saw one SURE-P vehicles with Young Shall Grow motors then, but the fares wasn't different from other buses in their fleet. That approach was a total misplaced priority among others. Thank you

Bedwyr:


That's what I keep telling people, and that's what GEJ tried to do in 2012...but most Nigerians think that low oil prices is a right....even if not sustainable.

Even when showing them the massive corruption in the subsidy regime...all they would say is 'We need more fairness' Well, the subsidy regime is not set up to ensure fairness and freedom from corruption.

GamalNasser:
For most of Jonathan's govt there's wasnt scarcity till 2014 Xmas which was orchestrated by the APC

No there was...and no, the scarcity was not enginerred by the APC people...

Here is what happened..

1.In 2011....GEJ attempted to remove fuel subsidy...by raising the price of fuel from N65 to N140. At the time , it cost N99 to import one liter of fuel...and we were at that time importing most of the fuel used in the country...because of years of corruption in NNPC (which predates 1999 bY THE WAY).

2.Protests by most Nigerians forced GEJ to cut prices to N97 from N140 planned...meaning subsidy was now N2 per liter. However landing prices went up and kept on going up from N99 in 2012 to N132 in 2016. (the cost in naira of importing one liter of fuel.

Back then, marketers imported fuel at say N120 (Landing cost around 2013/4,), and sold it at N97 (n87 by 2015) and governemnt paid them the difference in subsidy claims. However, this was becoming diffcult over time for governmet to pay due to rising cost of imprting fuel

Scarcities hit Nigeria by 2013 , 2014 and 2015...because trhanks to government not being able to pay subsidy claims (many of which were never paid until 2018 WHEN buhari managed to scrape some money together and pay them off)...many marketers were running at a loss..

Scarcities were worse atr Xmas because many marketers had to balance their books year end...so as not to run at a loss

Also, from 2013...many independent marketers were selling fuel above the official N87-97 price...(with prices ranging from N100-185). Those ones had fuel flowing...but you paid a higher price (I bought fuel in Kaduna from an independent marketer at the cost of N121 in April 2014 while on a trip. A relative of mine bought fuel in Minna at N170 IN May 2014).

The simple reason why we had fuel scarcites....was because subsidy had become unsustainable. That was why GEJ tried to increase prices by 2011 from N65 to N140.(and why even opponents like HRH the Emir of Kano and supporters like Ngozi Okonjo Iweala to this day back him up on that).

What stopped the fuel scarcites was that Buhari

1.Made NNPC the sole importer of fuel

2.Made NNPC to pay part of the cost of subsidising fuel

3.Marketers now buy from NNPC at N137 and sell at N145

4.Marketers make a profit.

EVEN THEN...this is just putting lipstick on a pig and saying it is beautiful. It won't be sustainable long run...as NNPC is now finding it difficult to keep up the charade.

Also when Buhari raised prices from N87 ...at the time, fuel was costing N132 to import, and was being sold at N87. Also, due to the crash in oil prices.from $120 a barrel in2014 march to $32 in Deceber 2015...the money was not enough to keep fuel subsides at N87...so prices were raised to N145, and petrol marketers made a profit....until the landing cost shot above N150 and above..and Buhari then made NNPC the sole importer.

That's fuel subsidy in a nutshell. APC had nothing to do with it...except being foolish enough to oppose GEJ's subsidy removal without sitting down to understand why. (I was an opponet of GEJ then, and at least I sat down and understood why, and when I got it...I supported it)

luluosas:
Yeah, GEJ's intent was a good one but the approach was wacky. Imagine empowering already rich folks at the detriment of the poor. That's why subsidy reinvestment policy of his administration failed. I saw one SURE-P vehicles with Young Shall Grow motors then, but the fares wasn't different from other buses in their fleet. That approach was a total misplaced priority among others. Thank you

Yeah, that's the problem with Nigeria's economy...we too like dey share kudi.

That's not how to develop an economy.

But really, corruption or no corruption re SURE-P...subsidy had to go.

Good forbid bad things

kolaaderin:
Bring back our queue

You seem to have a deep knowledge about the fuel subsidy operations.

Bedwyr:


No there was...and no, the scarcity was not enginerred by the APC people...

Here is what happened..

1.In 2011....GEJ attempted to remove fuel subsidy...by raising the price of fuel from N65 to N140. At the time , it cost N99 to import one liter of fuel...and we were at that time importing most of the fuel used in the country...because of years of corruption in NNPC (which predates 1999 bY THE WAY).

2.Protests by most Nigerians forced GEJ to cut prices to N97 from N140 planned...meaning subsidy was now N2 per liter. However landing prices went up and kept on going up from N99 in 2012 to N132 in 2016. (the cost in naira of importing one liter of fuel.

Back then, marketers imported fuel at say N120 (Landing cost around 2013/4,), and sold it at N97 (n87 by 2015) and governemnt paid them the difference in subsidy claims. However, this was becoming diffcult over time for governmet to pay due to rising cost of imprting fuel

Scarcities hit Nigeria by 2013 , 2014 and 2015...because trhanks to government not being able to pay subsidy claims (many of which were never paid until 2018 WHEN buhari managed to scrape some money together and pay them off)...many marketers were running at a loss..

Scarcities were worse atr Xmas because many marketers had to balance their books year end...so as not to run at a loss

Also, from 2013...many independent marketers were selling fuel above the official N87-97 price...(with prices ranging from N100-185). Those ones had fuel flowing...but you paid a higher price (I bought fuel in Kaduna from an independent marketer at the cost of N121 in April 2014 while on a trip. A relative of mine bought fuel in Minna at N170 IN May 2014).

The simple reason why we had fuel scarcites....was because subsidy had become unsustainable. That was why GEJ tried to increase prices by 2011 from N65 to N140.(and why even opponents like HRH the Emir of Kano and supporters like Ngozi Okonjo Iweala to this day back him up on that).

What stopped the fuel scarcites was that Buhari

1.Made NNPC the sole importer of fuel

2.Made NNPC to pay part of the cost of subsidising fuel

3.Marketers now buy from NNPC at N137 and sell at N145

4.Marketers make a profit.

EVEN THEN...this is just putting lipstick on a pig and saying it is beautiful. It won't be sustainable long run...as NNPC is now finding it difficult to keep up the charade.

Also when Buhari raised prices from N87 ...at the time, fuel was costing N132 to import, and was being sold at N87. Also, due to the crash in oil prices.from $120 a barrel in2014 march to $32 in Deceber 2015...the money was not enough to keep fuel subsides at N87...so prices were raised to N145, and petrol marketers made a profit....until the landing cost shot above N150 and above..and Buhari then made NNPC the sole importer.

That's fuel subsidy in a nutshell. APC had nothing to do with it...except being foolish enough to oppose GEJ's subsidy removal without sitting down to understand why. (I was an opponet of GEJ then, and at least I sat down and understood why, and when I got it...I supported it)

U can add Them ...

luluosas:
What about some years before 2015?