They will soon sell the country to Dangote

For those who continue to have love for Buhari, Tinubu, and other APC chieftains probably because of what you are getting or gaining from them. You all are DAMN!
Pains, sorrow, unhappiness and other bad things will always be your portion. Because you guys are really suffering us everyday in this country. If some people can try and manage, what about countless of people that cannot manage. So many parents are out there that doesn't know how to cope again. I've seen so many adults always in tears of tired on been alive. Countless of youths on the streets not knowing what else is next for them. Yet, you our so greedy leaders continue to punish us. God will not give any of you joy!
Make una continue. I don't know how it will happen oooo, but I know for sure that pains, sorrowful, and unhappiness is looming at everyone that is contributing to the downfall of this country.

Awon oloriburuku gbogbo.

miracood:
Good day everyone

I'm typing this with heavy heart because I just can't seem to hold it anymore.

I am currently in my NDII in Federal Poly bida.


I need a loan of 20k to complete the payment of my school fees.
Which I promise to pay back in a months time.

The deadline for school fees payment is upon me. And failure to pay, will make me add another year to my graduation years.


Pls help!

Who will help you now

Esseite:


In all, the well being of the populace was his most proprity..

Then he should have removed subsidy completely.

Some Buharists too would say the same thing, when their man Bubu is repeating the same errors.

The subsidy has to go. Or we just keep on wasting money.

Only a red revolt can salvage the shithole from the diabolic claws of these self serving THIEVES and sadistic RULERS!

The shithole urgently needs a Kaduna nzeogwu!

Vardanes2:


Because the petrol from the new refienry would be sold at N160 after being produced at N200 and above from the same refinery, and the refinery as a result won't make the profit it needs to keep running, and upgrade.

And the subsidy payment for the refienry won't cover the losses made adequately.

Within a few years, the refienry would either close down, or would export all its fuel abroad.

That's why all of NNPC's refienries are shuttered...because NNPC was selling subsidsised fuel, and running at a loss as a result. Any money NNPC makes now goes largely to paying subsidy costs, and also imprting fuel. NNPC cannot profitably refine fuel in Nigeria because Nigerians prefer to buy cheap fuel.

I'm so upset that I still don't get you.

Kudos to Adam oshiomole when he was NLC president

[quote author=Vardanes2 post=98919714]Well, Nigeria has no choice but to increase fuel prices.

In the begining, in the name of subsidy, we sold petrol at a price below the cost of producing it per liter...which led to there not being enough to pay for repairs and upgrades to our refineries.

Then when the refineries went down the drain, we began importing, and we sold the petrol at a price below the import price, which led to us running out of money and getting into debt.

At some point, we have to face reality. Do we want to continue subsidy and run out of money, and keep on getting into more debt, or do we want to remove it, yes, fuel will be expensive, but more investment and new refineries would come in...and eventually prices go down, plus we become a mass exporter?

Let's stop lying to ourselves. Oil subsidy must go. Yes, Buhari is bad,yes all the polticans are bad, but it is also bad business practice to sell a product below the price of its cost, and force NNPC to spend the cash it could have used to repair the refineries, and upgrade them, and even build new ones , on paying subsidy costs.

We are doing the same thing in the power sector. And we don't have light as a result.

Modified



Source:Subsidies Are the Problem, Not the Solution, for Innovation in Energy[/url][/quotey] you are very unintelligent with your comment,there is subsidy all over the world,so it's not bad if Nigerians have some too,thpugh not in petroleum because the problem here is the government refusal to refine petrol in Nigeria because it is not in their interest,once petrol is refined in Nigeria price will crash and dollars will firm up.tell your master to do the right thing and stop taking us for granted

Its crystal clear that GOODLUCK EBELE JONATHAN should re elected and NIGERIANS who worked against him have seen it now,a true leader must always be ready to carry everybody along but APC is after borrowing,increasing of products and commodities,suffering of the masses and never had any good agenda,what a party,may God save us from their hand till their useless tenure finishes.

Esseite:


In all, the well being of the populace was his most proprity..

See how Nigerians forget so soon. You've forgotten the queue under Jonathan, the subsidy frauds under Jonathan?

COMPAQ:


See how Nigerians forget so soon. You've forgotten the queue under Jonathan, the subsidy frauds under Jonathan?

face your front

COMPAQ:


See how Nigerians forget so soon. You've forgotten the queue under Jonathan, the subsidy frauds under Jonathan?

Yes I remember the queues to get it cheaper, I cant even afford it now.. just maybe there was no subsidy fraud par say, could have just been subsidy payments above $100 crude price.

A country that are blessed with mineral/natural resources,at first are we suppose to carrying crude oil to go outside to refine while we have a refineries here,cnt our governmment put it in order?what happened to looting money recovers,what are they using it for?thats to show that our government are corrupt and is hightime we youths should look for a lasting solutions to these because we cnt continue to be suffering like that while few greedy set of persons will be enjoying,enough of that

I've been in US since July last year and a gallon then was $1.55. Now its $2.05. That's almost 30% increase in 7 months because of increase in crude. Many Americans are also out of job and suffering due to pandemic.

Agreed they have some government support, but they will all tell you its not enough. Besides here they pay all manner of taxes. We gree pay tax for Nigeria? Just recently did we manage to increase vat to 7.5%, meanwhile sales tax here on everything I buy is 8.25%.

Meanwhile this is a country that's has budget almost 300 times that of nigeria.

We cannot afford subsidy. Its common sense. The conversation should be what else to be done to manage the brunt.

For those who pay no formal tax, that should be their own tax.

surgical:
..

Well petrol can.be refined in Nigeria, but subsidy hass to go first

Once aubsidy goes, petrol would be sold profitably

Said profits can be reinvested

That is something you should tell your masters Buhari and GEJ as i don't back pdp or apc

Some people will still come up and praise this woeful failure in their sycophantic and hypocritical manner.

Btruth:
I'm so upset that I still don't get you.

Well, in 2012, we was selling fuel at N97.

It cost N99 to import that fuel

Subsidy of 2 naira per liter was paid by government to keep prices low

By 2015, it cost N132 to import fuel

Fuel was being sold at N87

Government paid a subsidy of N42 to keep prices low


Now fuel costs N190 to import, and N162at the pump

See a pattern?

Plus no profits are being made, plus NNPC uses most of its money to import and pay suabidy costs which is why it cant afford new refineries

If the refineries were functional, fuel pump price will not increase when crude oil price increases.

This is because you have the product and refine it by yourself. In this case you sold all the raw materials to foreigners at the prevailing high prices, so you should provide for the increase in prices that will accompany importing finished products.

Always wasting scarce resources.

The only thing they excel in is giving excuses. Now the non functional refineries are there accumulating maintenance costs yet you cannot find buyers for these wasteful assets.

Are you people under spell ?

COMPAQ:


See how Nigerians forget so soon. You've forgotten the queue under Jonathan, the subsidy frauds under Jonathan?

The queues and subaidy frauds happened because

1. Until 2017 everyone could import fuel with a permit

2.Government then paid importers part pf the subsidy costs

3. Because subsidy costs are not static, it was becoming difficult for the government to pay subsidy costs over time.

4. As a result many businesspeople engaged in subsidy scams. Without them many petrol businesses would have collapsed. So people lied about importing fuel

5.Why they were doing it was because many marketers were importing fuel and selling it at a loss. Ideally the subsidy payments would have covered their losses but in practice it didn't because rising oil prices meant rising costs

6.That is also why many marketers were smuggling fuel to Niger and Benin . It is alsi the reason why scarcity of fuel was commonplace. It was difficult to import fuel at N99 and sell at N65 which wasghe situation in 2011 ending

7. It ia also why we dont have refineries. Subsides on fuel dating back to the 1980s meant that overtime NNPC wasnt making the type of profit needed to fix and upgrade refineries and add new ones

8Jonathan tried to stop all that by rasing prices from N65 to N141. This would have ended all the queues and scams by making petrol profitable. But Nigerians said no

GEJ wasn't a good leader, but the issues arising from fuel subsidy were not his fault

miracood:
Good day everyone

I'm typing this with heavy heart because I just can't seem to hold it anymore.

I am currently in my NDII in Federal Poly bida.


I need a loan of 20k to complete the payment of my school fees.
Which I promise to pay back in a months time.

The deadline for school fees payment is upon me. And failure to pay, will make me add another year to my graduation years.


Pls help!

are you looking for help or where to borrow money? If it is borrow, and you are sure of paying in month time, there are lots of online money lenders. You try them.

Vardanes2:


1.GEJ wanted to raise fuel from N65 to N140 so as to allow for increased investment in the oil sector due to reduced subsidy costs. You Nigerians protested and as a result, he knocked down prices to N97 and then to N87.

Here is why it wasn't a good idea. In 2012, it cost N99 to import one liter of fuel. Actual cost was N65. gej raised the actual cost to N140, but protests forced a reduction to N97
By 2015, the same fuel cost N87 AT THE pump, while it cost N132 to import. Government subsidy payments had gone up from N2 per liter in 2012 to N130 IN 2015.

2.As a result, our foreign exchange reserves went down from 60 billion in 2010 to 32 billion in 2015...partly because we had to spend more cash subsidising fuel

3.The GEJ era was also the era of fake subsidy claims, made by bsuinessmen because they were being forced to sell fuel at a loss, and as a result, they had to make fake claims to keep their businesses from collapsing.

Also, it became profitable to smuggle fuel outside the country...as fuel was sold for higher in Niger, and elsewhere.

4.Buhari came in, and in essence made NNPC the sole importer and subsidiser of fuel. Which ended issues with fuel scarcity, but makes it even more difficult for NNPC to refine fuel at home, as much of its money now goes to imports and subsidies.

“More difficult to refine fuel at home”. Having promised us that our refineries would work upon voting him, has he not become a monumental failure?

One may ask: if he has been able to obtain loans in billions of dollars to fund the railways, why did he not obtained loans to fix the refineries knowing the importance of that sector to the lives of Nigerians?

Vardanes2:


Because the petrol from the new refienry would be sold at N160 after being produced at N200 and above from the same refinery, and the refinery as a result won't make the profit it needs to keep running, and upgrade.

And the subsidy payment for the refienry won't cover the losses made adequately.

Within a few years, the refienry would either close down, or would export all its fuel abroad.

That's why all of NNPC's refienries are shuttered...because NNPC was selling subsidsised fuel, and running at a loss as a result. Any money NNPC makes now goes largely to paying subsidy costs, and also imprting fuel. NNPC cannot profitably refine fuel in Nigeria because Nigerians prefer to buy cheap fuel.

correct me if am wrong, but I thought subsidy payment provisions was made in our budget year after year?
And our refineries are not working because of executive corruption and nothing else- it's not about petrol subsidy but corruption of those in power. If the federal government takes over fully NLNG today,give it 5 years and that cash cow will run aground like NNPC

Vardanes2:


Well, in 2012, we was selling fuel at N97.

It cost N99 to import that fuel

Subsidy of 2 naira per liter was paid by government to keep prices low

By 2015, it cost N132 to import fuel

Fuel was being sold at N87

Government paid a subsidy of N42 to keep prices low


Now fuel costs N190 to import, and N162at the pump

See a pattern?

Plus no profits are being made, plus NNPC uses most of its money to import and pay suabidy costs which is why it cant afford new refineries

Understood now. But, .......

.......why can't we just for once focus on getting our refineries working. Even if it's only one of them? Don't you think so?

Btruth:
Understood now. But, .......

.......why can't we just for once focus on getting our refineries working. Even if it's only one of them? Don't you think so?

If we want working refinereis, we also have to allow the refinreis sell fuel at a price above the cost of production so that they can make a profit which would be used to keep the refinery running

Even if it means fuel at 200 per liter.

eduj:

correct me if am wrong, but I thought subsidy payment provisions was made in our budget year after year?
And our refineries are not working because of executive corruption and nothing else- it's not about petrol subsidy but corruption of those in power. If the federal government takes over fully NLNG today,give it 5 years and that cash cow will run aground like NNPC

Just because government says there is no subsidy doesn't mean that they are telling the truth.

Also subsides lend themselves to corruption as i explained upthread.

The corruption is a symptom of the problem. It is not the whole problem

Cantonese:


“More difficult to refine fuel at home”. Having promised us that our refineries would work upon voting him, has he not become a monumental failure?

One may ask: if he has been able to obtain loans in billions of dollars to fund the railways, why did he not obtained loans to fix the refineries knowing the importance of that sector to the lives of Nigerians?

For Buhari to make refining work at home, hr would have to agree to allowing the price of fuel to be determined by the marketers not the government and end subsidy completely

That means higher prices which is politically expensive. But in the long run good for our economy

As for loans, this is not an excuse for buhari please, but with oil prices ranging between $20 and 80 since he took over, plus we have a breakeven price of 133 dollars up from 122 dollars in 2012, taking loans was inevitable

Which is a big reason for buhari removing subsides. He didn't. One of several.bad economic decisions he has taken

Vardanes2:


If we want working refinereis, we also have to allow the refinreis sell fuel at a price above the cost of production so that they can make a profit which would be used to keep the refinery running

Even if it means fuel at 200 per liter.

I see. Won't that be better, than continue importing fuel? Though, our administrators can never be trusted without embezzling the whole funds.

Nigeria my country. How did we get here gan self?

GOD WILL PUNISH BUHARI AMEN
GOD WILL PUNISH ALL HIS GENERATIONS AMEN
GOD WILL PUNISH ALL HIS AQUITANCIES AMEN
ALL THE PAINS THEY INFLICTED ON NIGERIANS THEY WILL GET IT IN 100 FOLDS AMEN
ALL THE INNOCENT BLOOD THEY SHED WILL BE REQUIRED FROM THEIR HANDS AMEN

AMEN AND AMEN

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Vardanes2:


For Buhari to make refining work at home, hr would have to agree to allowing the price of fuel to be determined by the marketers not the government and end subsidy completely

That means higher prices which is politically expensive. But in the long run good for our economy

As for loans, this is not an excuse for buhari please, but with oil prices ranging between $20 and 80 since he took over, plus we have a breakeven price of 133 dollars up from 122 dollars in 2012, taking loans was inevitable

Which is a big reason for buhari removing subsides. He didn't. One of several.bad economic decisions he has taken

Thank you very much. You gave the clarification.

deavicky:
are you looking for help or where to borrow money? If it is borrow, and you are sure of paying in month time, there are lots of online money lenders. You try them.

For help