Lots of fraud.

How did we move from 30-40million litres a day to 90 million litres a day when there are no meteoric rise either in population r in number of cars?

If it is as a result of smuggling, why is the custom chief not yet sacked if over 30million litres can be smuggled daily?

If it is fictitious claims being paid, why hasnt the presidency ordered a review and plug the gap?

It is a known fact that Nigerians of all classes generally have less disposable cash to splash on fuel. So why is the consumption sky rocketing?

It is obvious that only a complete removal of subsidy will stop this scam. After all, the president said it was a scam before he was elected. Why wasn't the rehabilitation of the refineries made a priority over the last 6yrs so as to remove the subsidy with minimal impact on nigerians?

It is worthy of note that nigeria is the only OPEC nation without working refineries.

So assuming this Government is selling oil at 100 dollars per barrel Nigeria will suffer more. I thought the purpose of increasing fuel to N167 is cus they remove subsidy. Buhari as Minister of Petroleum i can't understand what he is doing. He didn't went to school. One should have expected Buhari to be Minister of defence but no cus of Oil money he is the Minister of Petroleum and see were we found our self. After Buhari and his blind supporters will say PDP sold oil at 100 dollars per barrel and no money. How much was fuel less than N100 and how much was the exchange rate. Infact Buhari is making more money than PDP regime. They sold at less than N190 and Buhari is selling N410 per dollar so who is making more money. I pity those people thay keep supporting this evil government. Assuming Buhari mean well for Nigerians he should have been a Minister of defense cua he has nothing to offer as a minister od Petroleum rather than corruption and to share the money among them selves and use the remaining one to pay their Bandits boys. 2 years should come and go so that Nigerians can breath again.

Beancounter93:
That is why subsidy has to go.

The more costs rise with producing petrol the more it costs to subsidise it.

But if you suggest it to Nigerians they will protest against it

As things stand that's a whole 720billion naira gone in the name of subsidy.

It is difficult to keep fuel cheap. We pay the lowest price for fuel in the whole of west Africa and are wasting billions to do so.

Subsidy has to go. Yes apc is rubbish. Yes Buhari is bad but if we keep on this subsidy things we will always end up wasting billions for nothing

The bolded are the only thing you said that made sense.

Buhari move petrol from from about 75 to 163 (the highest any president has made in the attempt to deal with subsidy). Where is the benefit of this action?

Obj dealt with lower oil price and subsidy, yet he delivered steady double digit growth in the economy, security, inbound investments and a largely debt free eceonomy.

As I said earlier, only the bolded makes sense

Esseite:
Go and take lesson notes from Jonathan how he sustained it at $100...

Fuel subsidy is the only direct general benefit Nigerians get from the Government, if it was not subsidized, the funds would have been stolen like the others..

Increase it and see the mother of all protests, the president no longer has that "saviour" mantra that made us all ignore when he pushed it from 97 to 140...

It was never 100$ at any point in history that's APCs propaganda.

Beancounter93:
That is why subsidy has to go.

The more costs rise with producing petrol the more it costs to subsidise it.

But if you suggest it to Nigerians they will protest against it

As things stand that's a whole 720billion naira gone in the name of subsidy.

It is difficult to keep fuel cheap. We pay the lowest price for fuel in the whole of west Africa and are wasting billions to do so.

Subsidy has to go. Yes apc is rubbish. Yes Buhari is bad but if we keep on this subsidy things we will always end up wasting billions for nothing

You've made excellent points with superb clarity, but I'm afraid they won't make any headway in the face of the Nigerian mindset, which is to argue backwards from the conclusions you want to be true until you reach the "facts" that support them.

Most Nigerians are both extremely nihilistic and incapable of thinking beyond the immediate future, which is why they prefer to keep their fuel subsidized in the here and now, even if the biggest beneficiaries are the rich who own multiple cars and have lots of places to drive to, and even if it is at the cost of horrifying infant mortality, an abysmal life expectancy, rampant illiteracy and many other ills that could be cured with that wasted money. Who cares about such benefits as long as you can still haul a jerry-can to a petrol station and fill it with "cheap" oil this evening? Trying to reason with such people is simply an exercise in futility.

Beancounter93:


Our debt is rising because the oil price is not high enough for a nation our size. And also because of rising subsidy costs

That is why i would have expected this apc governemt to diversify the economy and widen the tax base and increase the tax to.gdp ratio so that we can get other sources of revenue apart from oil to fund the subsidy

Things they.have not done

Oil money is too sweet and Buhari is destroying any means for Nigeria to earn from modern innovations.

This government wants the economy solidly in its grip and hates when Nigerians earn massively on their own.

venabili:
Lots of fraud.

How did we move from 30-40million litres a day to 90 million litres a day when there are no meteoric rise either in population r in number of cars?

If it is as a result of smuggling, why is the custom chief not yet sacked if over 30million litres can be smuggled daily?

If it is fictitious claims being paid, why hasnt the presidency ordered a review and plug the gap?

It is a known fact that Nigerians of all classes generally have less disposable cash to splash on fuel. So why is the consumption sky rocketing?

It is obvious that only a complete removal of subsidy will stop this scam. After all, the president said it was a scam before he was elected. Why wasn't the rehabilitation of the refineries made a priority over the last 6yrs so as to remove the subsidy with minimal impact on nigerians?

It is worthy of note that nigeria is the only OPEC nation without working refineries.

EXACTLY!

Hmmm

vedaxcool:


Lol the economy is being diversified but it requires commitment from everybody. When the borders sure closed to support the production of rice, many people kept railing against the closure. Despite their railing, Nigeria emerge the largest Rice producer in Africa. You might think governance is a switch but it is a process with many moving parts.

State governors are also responsible for collection of taxes they have either failed to improve their capacity of have become thieves stealing the taxes.

Lagos carries 51% of VAT tax collection, indicating that significantly there is a problem on state level, it is not APC guys doing stuff it is government functioning well at all levels.

We should always comment from an informed position, not trivialising issues.

highest producer of rice indeed...I bought a bag of Nigeria rice for 24000 last week whereas it was sold for about #9000 in 2015.Truth be told Buhari is a dunce