Shanid:
[b]QUALITY LEATHER BELTS AVAILABLE AT AFFORDABLE PRICE[/S

Agboriotejoye:

I don't really get you. Do you mean I should believe you over what govt says?
NNPC is the sole importer and they said based on the current price there's no subsidy. Besides, indomie for example fixes price as well. Same with telecoms. Does that mean they also subsidise their prices?

kikero:


Sorry, but I won't beleive that the government has removed subsidy until they stop setting the price.

So long as prices are being set by the government, there is a subsidy. Either they let marketers set the price...so as to really prove they aren't subsidising fuel.

shadeyinka:

I understand you. But it's the government that is confusing everyone. Their hang on the economy is next to zero.

The problem isn't about marketers selling the price but what the true price of production is. The government seem not to know or care.

But, do you think it was logical for government to reduce petrol price from N195 to N125 while still telling everyone about heavy SUBSIDY?

kikero:


Here is the reason why smuggling happens.

In Nigeria, fuel costs N123.5-N125 per liter, with a subsidy in place. In Benin republic, fuel costs N336 per liter. In Ghana, its N301 per liter, in Niger, it is N350, and in Ivoiry Coast it is N385 per liter. Cameroon sells fuel at N419 per liter. I could go on..

So, it is far easier for your local marketer to smuggle fuel across the borders, and make a big profit selling it there.

That's why subsidy has to go, and marketers have to be the ones controlling the price of the fuel they sell. NNPC inclusive.

Also, NNPC is spending billions on refinereis without result because they are a government agency. As a result, they have no incentive to make profits, no matter how bad they are doing, they can just request for more money. Making NNPC private would end all that, they would be forced to work for their money, and their refinereis would be working in days.

The truth is, the government introducing price controls and subsidies is the reason why we have issues with refieries, and issues with smuggling. But because removing suibsidy and allowing the market determine the price has always been very unpopular (the GEJ admin tried it in 2012, and faced severe protests, Buhari only was able to get away with a partial removal because everyone could see at the time that the treasury was almost empty due to very low oil prices then)...government keeps a subsidy in place.

You won't allow the government control the prices of what you sell, if you were a businessman. Why are we allowing them control the price of fuel?? Is Cameroon, Benin, etc richer than we are?

kikero:


That's it, the whole subsidy thing does not make sense, which is why it has to go.

kikero:

The problem is, prices of fuel will shoot up, and that's not polticially popular. IDEALLY, on the other hand, more investment flows in, and that means more refineireis and more jobs.

kikero:

As for 'true price of production'....that's the issue. Subsidies and price controls means that there isn't much production of fuel in Nigeria...we import a lot...so thus prices would be, in principle, very high.


MODIFIED

The cost of refining a liter of fuel is between 0.40 dollars to 0.70 dollars ie N155 to N271.60 ( based on American values...I'll put it at N155 myself since we are perpetually in summer here)

SarkinYarki:


For four years Buhari denied the existence of subsidy while his corrupt friends where enriching their selves in his secret corrupt subsidy regime and that corruption was responsible for daily fuel consumption jumping over 100 percent under Buhari..

You say there is no problem as long a there is no subsidy ? Lies !!! The laws of demand and supply now govern the price of fuel and as long as the Nigerian Economy keeps bearing the punch of demand and supply of other west African countries because of smugglers Nigerians won't get a fair deal in what they pay for fuel and that includes you

kutashi:

Mumu! Table your evidence! Or you think everybody is daft like you?

mfm04622:


It is really important not to comment when we don't fully understand the subject matter.
Price of fuel in Nigeria is still not subject to full market forces. Govt still set prices. Local price of PMS is set by international price of crude, set by international demand for crude and not by local demand for PMS. Nigerian demand for PMS is miniscule in the world energy market. So, no matter what we demand, it won't affect the cost of PMS

SarkinYarki:


If I was daft don't you think you will be richer and more successful than I am? But you and all the men in family can't measure upto me in anything and that says a lot .... Well if you had any brain you will know the APC kept complaining that Jonathan was paying subsidy for 30 million litres of fuel a day which they claimed was Corrupt because the actual figure was about 26 million and months after Buhari showed up this figure magically jumped to over 50 million and at a time when Vehicle tarrifss had been increased and Nigerians buying less cars and also a recession in place and price of petrol increased by almost a 100 percent. If you were smart you wouldnt even be defending a failed govt like that of Buhari in the first place

kutashi:


I am more convinced than before that you are a super daft-in-chief! For you comparing your poverty level assumed as riches! I don't think you are happy!
Back to the issue, I will refer you to this https://www.bbc.com/news/world-africa-18238973. Again, if you aren't daft as you have already proved, calculate the amount the claim as subsidy on 30 million litres and report back to me! Do some little research before comment!

livebyday:


It's sad that in 2020 other countries are talking about ground breaking achievements in medical biotech research

New energy discoveries

Space research

And new discoveries of archeological finds

But Nigeria is shamelessly showing the whole world her stupidity

Imagine this headline ? Other countries will be sourcing the internet to see which countries are catching up in terms of being a world power but they will see this NONSENSE from Nigeria as usual

Nigeria gives Africa a bad name

Earlier this year before the Covid 19 I was in Kenya and Rwanda and I can tell you Nigeria is far behind these two nations

These are progressive forward thinking nations that want to do away with the western stereotype of Africa being backward and depending on western nations but Nigeria just keep dragging the continent backwards..

Nigeria has nothing to show for in the last two decades save for internet penetration which allowed her citizens to start troubling the world with cyber crime .

The worst part are the disillusioned youths who are a generation of drug addicts, hippies and care free delusional consumers

Nigerian youths don't care about reality, facts , morals or doing the right thing

They just want to eat here and now and fûck away their future.

The irony is they curse the past generation for wasting away their so called birthright, but look at what is going on today ...

The coming generation will have nothing but dust to inherit

Nigeria is doomed .. at this point it may be best this nation divides because at the rate this nation is being bled , the resources of the south would be used to enrich and build a Dubai in the north then after the south is bankrupt trust me the north would agree to a division by then southern Nigeria would be poorer than northern Sudan

This is my fear

kikero:


Actually, fuel consumption was much higher than that under GEJ. NNPC had the same issues measuring fuel consumption then as it does now.

All in all due to subsidy.

Also, GEJ left office 5 years ago, the population has grown, and people still buy cars, generators. Fuel consumption ought to go up.

Poloyanabo2:
Do we blame the smugglers, or do we blame buhari's incompetence?
After spending N64 billion on kaduna refinery to no effect, kyari now needs $2billion to replace escravos to kaduna pipeline?
NNPC keep spending more money without making any profit whatsoever.
When will NNPC be scrapped?

nedekid:

Tell that to a section of the south that refuses to understand.

PrecisionFx:





Keep defending defending a hopeless thieving dullard

Burchester:


How much ??

kikero:


What's there to defend?

Nnpc has a lot of issues because of price controls.

PrecisionFx:


And who should be blamed for that?

kikero:


The fact that for decades we have been imposing price controls on the petroleum industry.

Who to blame? Actually, Nigerians. Most Nigerians don't see the benefits of 1 ) ending price controls and by extension 2. subsides.

Your hero GEJ at least saw the benefits, hence his attempt to increase prices from 65 to 140 naira in 2011, which had it been allowed to stand would have saved billions of naira , attracted investment, reduced subsides and so on. Sadly most Nigerians only saw raised prices.

The thing is, if government today privatised nnpc, removes subsidy and allows marketers set the prices, Nnpc would be forced to work for its money, and all the sharp accounting practices and so on will end. And we probably will know how much fuel is used in this country.

My problem is with subsidy, not PDP or APC

PrecisionFx:






Buhari is to blame.

He is the Petroleum minister.

Stop talking about decades ago,buhari came to fix the system, not to make excuses

kikero:


Well, Buhari knows what to do...

End subsides,privatize nnpc, end price controls.

But most Nigerians don't want that. That's why I blame Nigerians.

(And it's why I can't take APC and PDP serious. A leader needs to be bold. Bubu isn't bold)

SarkinYarki:


Oga I am rich by any world standard so shut up ...in any Economy I go to to on Earth I will fall among the I percenters there so keep quiet jare ..

Well I am not here to calculate amount claimed on subsidy but the fact that Daily Fuel consumption increased by over 100 percent under Buharis clandestine subsidy regime criminally called " UNDERRECOVERY", the most corrupt subsidy regime Nigeria has passed through in my opinion and that will be exposed when the regime leaves power .

I have taken the liberty to add a screen shot of how much one needs to earn minimum annually to be a world class one percenter so it sinks in that I am not your mate in anything and I am legit ooo .... What do you even do for a living ?

Free salary? Political sycophancy? Tell me please .. Abeg let me go and work out small

Burchester:


How much ??