zombieHUNTER:

Do you think you will feel the impact of the money if removed...

Do you think it will stop this administration from borrowing...

These were the same rogues that protested when Jonathan removed it...

The truth is that it has to go. It's stupid to continue paying it. Let's suffer once and for all. All these hardship in stages is baseless.

Better Buhari does it now so the next government after him has no excuses.

iwaeda:


Sorry you cannot dance at Ojota again, it has been sealed of, Enjoying their lies. In Jan 2012 was still the best opportunity, but you dancers, I will not call you protesters.

Well, I did support subsidy removal in 2011-12, so there was no reason for me to dance at Ojota.

Good afternoon.

Malcolm123:



Nigeria is 15th largest oil producer in the world and it has neva be in 5th position before .......just fact telling u, not disregarding ur comment

Not 15th, currently at no 10th
But we set to return to 5th after the new oil Discovery

Nonesense. They will not talk about the extra profit they are making in the export of crude oil. The six years they have been in office is enough to fix our refineries and even build a new one. They are benefiting from the current system.

If they know the punishment that awaits them on judgment day, they will repent fast.

Beancounter93:


Basically that's the entire point of the argument

Subsidy has to go. Yes, prices will increase, yes Buhari is a bad leader and he has to go, yes, things have never been this bad.

But the truth is, the reason why we are here is because of rising subsidy costs

The cost of making one liter of petrol rises every year...so the amount of subsidy rises. If you want the subsidy to remain then government is going to spend a higher amount of money paying for it.

Oil prices are low. Our breakeven oil price now is $133. Right now oil is below $80. Nigeria, even if we get back all the looted money, won't be able to fund subsides under the current regime.

There is a reason why the GEJ admin removed subsides...until Nigerians said no. The more the cost of petrol rises, the more subsidy rises...and the more you drain your reserves and everything trying to fund it. And you get into more debt, and you end up having more issues.

And the more smuggling rises. We spend N165 on petrol here...meanwhile it costs above N350 ev erywhere else. Smuggling is too lucrative ....unless we want to keep our borders closed, and unless we want to build a fence.


So, abuse me, abuse my ancestors, abuse abuse.....but the cold reality is that if we want to stop wasting money and getting into more debt...subsidy has to go. Period. IT IS NOT BENEFITING THE POOR...it is TAKING AWAY THE SAVINGS OF THE POOR TO GET US INTO MORE DEBT

fact is the way the government is claiming to be removing and readding the subsidy isn't a long term solution. if their plan is just to increase pump price again it them shows Buhari and his forty thieves don't have any solution. you can't keep increasing it every 3 months because the price will continue to go up. what is the long term plan

BigDawsNet:



Not 15th, currently at no 10th
But we set to return to 5th after the new oil Discovery

Oohk, depending on d website stating it wiki said 11th
Buh Nigeria is not @ top 5 not because of inadequate oil (so new discovery won't do much to help d situation)
More of production capacity, OPEC quotas and low FDI as NNPC rely on international companies for exploration and production

valentineuwakwe:
Enough no this petrol landing cost and subsidy wahala, let them increase the fuel price to N250 and see how NLC go react...
As for we Nigerians nothing we go do, we go still be suffering and smiling!

Both nlc n govt are one. Forget that bold face strike, Dem be padi padi behind the scene. Unionism in nigeria na scam, very massive scam.

God is good.............all the time,and all time,God is good is a popular slogan in pentecostal churches thesedays.But talking of subsidy is satanic,luciferous,barbaric,demonic and dehumanizing,the fraud in the NNPC is satan is good....and all time because a few members of the cabal are benefitting,EFCC should stop their (rent-seeking) ranting about YAHOO boys when the main yahoo boys are within the NNPC.What stop the federal government to unbundle this deft corruption into six geo-political oil corporation,so that each should take care of each zone,what kind of slavery is this N5.58b spent daily on fuel is a fraud of the century.I would rather advice the federal government NNPC should only sell the crude oil because our believe is to sell raw materials and import finished due to economic sorcerers and astrologers in government,importation of fuel should be the duties of state governors in their geo-political zones.NO good roads,subsidy is the only good news.The presidency well-done

Beancounter93:


First, it was much higher than 26 million liters in 2015. (40million, some put it at 60-70 million in 2016). And a large part of it is smuggling. We are in essence subsidsing fuel for a large part of the West African continent...and even some parts of Cameroon.

Second, if subsidy goes, so does the corruption you are rightly implying. Me I support subsidy going because it is very very easy for corruption to fester in it. Fake claims, fake import invovices...etc etc...and the smuggling. If subsidies end...so does free money...no more corruption...fuel amounts falls back to normal.

There is a reason why some of us opponets of your hero GEJ listened to him when he tried to remove subsdy

Pls stop this false narratives. subsidy was paid on 26 million litres in 2015 which includes smuggling. The records are there at ministry of finance and pppra

History555:


Pls stop this false narratives. subsidy was paid on 26 million litres in 2015 which includes smuggling. The records are there at ministry of finance and pppra

It isn't a false narrative and it isn't a defence of government either

The problem with subsidy is that due to the nature of the beast you end up pouring more and more money into its mouth

Nigeria was consuming 40 million liters of fuel by 2015 if not more because subsides meant lower prices of fuel which made it easy for people to smuggle fuel to neighbouring countries for bigger profits

The amount paid to subsidise fuel under GEJ was not fully paid till 2018. Because the governemt no matter how it tried could not keep up with subsidy payments due to rising costs

Same thing for the Bubu admin . They tried to mask it by forcing NNPC to be the sole importer and subsidiser of fuel from 2016 onward which has led to a situation where NNPC is using its profits and losses to pay for subsidies

iwaeda:
They promised you one refinery per year, six years NO single refinery, everyone is waiting for Dangote that may not function this decade.

courtesy of bubu

Malcolm123:


Oohk, depending on d website stating it wiki said 11th
Buh Nigeria is not @ top 5 not because of inadequate oil (so new discovery won't do much to help d situation)
More of production capacity, OPEC quotas and low FDI as NNPC rely on international companies for exploration and production

The question is why do we depend on Foreign nation to refine our oil

Is it so difficult to build a working perfect refineries

joey150:


The truth is that it has to go. It's stupid to continue paying it. Let's suffer once and for all. All these hardship in stages is baseless.

Better Buhari does it now so the next government after him has no excuses.

It is you and your family and entire generation that will suffer oloriburuku.

There won't be any next Government. After this calamity called Buhari, It is balkanization & disintegration.

It is Oduduwa Nation or nothing!

Your quota-system people are all over Abuja stealing Billions of Money and marrying new wives every month.

Your rubber-stamp Senate President just dashed his new Amariya 100Million Naira while the bastard keeps complaining to his fellow bastard Senators that Nigeria is broke.

Tamper with the current price of Petrol and Nigeria will burn to ashes. Even you yourself will flee to Cameroon or Togo.

Awon Oloriburuku Omo Ale!

We have had enough!

Make it N500 make person hear word. After all buhari needs money to continue his cow economic transformation.

Apc is more of failure than pdp

Akathriel:


It is you and your family and entire generation that will suffer oloriburuku.

There won't be any next Government. After this calamity called Buhari, It is balkanization & disintegration.

It is Oduduwa Nation or nothing!

Your quota-system people are all over Abuja stealing Billions of Money and marrying new wives every month.

Your rubber-stamp Senate President just dashed his new Amariya 100Million Naira while the bastard keeps complaining to his fellow bastard Senators that Nigeria is broke.

Tamper with the current price of Petrol and Nigeria will burn to ashes. Even you yourself will flee to Cameroon or Togo.

Awon Oloriburuku Omo Ale!

We have had enough!

You are a donkey!

What does fuel subsidy removal have to do with whatever your worthless senate President did?

The rest of your balderdash I will not even attempt to react to.

Stop skipping your meds!

SELL AT N250 AND STOP SUBSIDY.

Why don't we change the narrative to production cost in Nigeria ��

Petroleum refining is not a rocket science for God's sake.

The way forward is subsidy removal. Which should have happened since 1993...when we were first told to do it. But we did not listen, because politics.

We are waiting for APC campaigns to see why people should vote for them at any level.

They want to finish us off finally.

Beancounter93:


While such a probe will be welcome, at the end of the day, it would reveal nothing

Subsides, by their nature, chop money. The more you keep a subsidy, the more and more money you spend...to maintain it.

Let's say I am Mr Government, and subsidise a loaf of bread , being sold at N400, which costs N200 to make, at N350 a loaf, so that it costs N100 at the subsidised price.

Suddenly costs of making the loaf rise to N400 per loaf...WHICH means by right the same loaf should be sold at N600. Yet I am forcing bakers to sell at N100, and paying them N350...which means instead of the N200 profit they should make, they are making N50.

oF COURSE ...low profit...no means of increasing staff salaries, improving machinery, buying ingredinets, etc etc...

So either the subsidy goes up by N150, or it gets removed

And then the cost keeps rising.

As does the subsidy.

There is a reason why the solution to subsidy corruption is to remove subsidy.

I understand that and that's where the problem lies. How many times have this government claimed to have removed subsidy? And also how is it proving to be rocket science for us to have at least one functioning refinery in this country

Beancounter93:
.



Apart from Dangote...no one wants to build refineries in Nigeria because subsidy=prices below the cost of production=potential losses

If subsidy goes, the 20 INACTIVE refinery licenses will become active immediately.

Plus, NNPC cannot build refineries, because Bubu in essence forced them to use their profits to subsidse fuel since 2016. Thus, no free money to pay for new refineries.

I don't always subscribe to defending Governments, I see our problem has lack of will power to do the right thing, it goes beyond subsidy or whatever, what about other sectors.