Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,668 members, 7,959,017 topics. Date: Thursday, 26 September 2024 at 09:24 AM |
Nairaland Forum / Nairaland / General / Politics / Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today (20233 Views)
Petrol May Sell For ₦600 Per Litre With Dangote Refinery – Marketers / Buhari Signing PIB Shows Disdain For Niger Delta People, Says PDP / President Buhari Signing "Not Too Young To Run" Bill Into Law (Photos) (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Nobody: 10:27am On Aug 17, 2021 |
Ofunaofu: Because 1.Petrol still has not been deregulated 2.The sector is still losing lots of money as a result. 3.Because of no deregulation and price controls people cannot build refineries. 4.NNPC Is spending all its money that isn't earmarked for salaries to subsidies fuel..meaning, until recently, it cannot fix its refinereis. 5.This leads to poor refining of diesel, meaning more importation, and still higher prices. 1 Like |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Nobody: 10:28am On Aug 17, 2021 |
Alexsmith007: Niger, CHAD , and Cameroon all are oil producers. Benin too recently discovered oil. |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Kraytur: 10:28am On Aug 17, 2021 |
Corruption has eaten the economy deep The lapses of deteriorated funds has started to show Subsidy is a way of introducing a form of pms tax And another way to level the field We produce crude FGS We should enjoy it’s dividends And not have to suffer Price hike because of the outcome of corruption by wicked leaders who’ve sucked the economy dry Spits 2 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Nobody: 10:38am On Aug 17, 2021 |
Kraytur: Subsidy is not a tax, not as practiced in Nigeria Basically, a subsidy is what you pay to compensate the oil industry for selling fuel below the cost of what it takes to produce one liter of petrol from crude. The problem is, overtime the cost of refining fuel rises, meaning you have to pay higher and higher to subsidize it. And no matter how you try you cannot cover the resulting loss. Which is why many countries that subsidies have problems funding refinery repair or new refinery projects (Nigeria, Venezuela and even Iran are good examples) Here in Nigeria, subsidy comes from the revenue we earn from selling crude oil , which is never high enough for our needs because of our large population. SO we have to use a rising amount of money to pay for subsides, instead of paying for education, health, etc. (The money we spent on subsidy in one year can enroll 1 million Nigerians on NHIS). Meanwhile, falling oil prices make matters worse. And because we don't have enough refining power at home...because of subsides chopping any money that would have been spent on refineries if there was no subsidy...we keep on pouring even more and more money. Since 1993, NIgeria has been warned severally to remove subsides. Each time, the people have said no. |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by DukeNija(m): 10:50am On Aug 17, 2021 |
Beancounter94: And you were told that subsidy plunged this country into debt? Was that what your pay master informed you? Fuel has been subsided in Nigeria since 1973 so it has little to do with our debt profile compared to the kangaroo projects your leader has been borrowing from China to execute in the last 6 years. 5 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by kepstone: 10:55am On Aug 17, 2021 |
Oh my God, what kind of foolish step is this, this government, haba, pity people na, i have never benefited from Nigerian government since a child. is it not funny that we are the giant of Africa, we have oil in abundant, we have 3 refineries in Nigeria, yet we cant refine our own fuel, we have to take it outside to refine, then bring back to the country and sell. Well Nigerians start thinking of ways to make your own money. We offer the best POS solution services Become our Agent and start your POS business or are you a business owner who wants to receive payment and you are looking for the best Fintech Company to use think TRANSAVE. With our mouth watering offer and easy to use platform you can get your business started with one mouse click, receive payment from your customers Nationwide delivery and coverage, life time access and No service charge, transactions fees ridiculously low. Apply today to get started in 2mins, get our POS Machine delivered to you Nationwide from our office. APPLY Today Send email to info@transave.com.ng or call 08061705599, 08039873400
|
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Brushstrokes20: 10:55am On Aug 17, 2021 |
The only THING worse than buhari is buhari ITSELF! What the redundant coupist cannot destroy does not exist Useless govt of self serving THIEVES and BLOODTHIRSTY TERRORISTS.... The shithole is on a cliff edge! 2 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by blaqtom(m): 10:56am On Aug 17, 2021 |
amc:So average Nigerians nor go enter transport? Or u not aware tfare would increase 200% or more u not aware the cost of food stuff will also increase the reich will be able to afford to live even on 500 per liter...and if smuggling is an excuse what do we have customs for are they not responsible for the borders are we suppose to suffer for their ineffectiveness...if smuggling is the problem deploy more men to the borders.....you don’t even have right to speak for the average Nigerian u probably don’t know what they go through as for the money......they just need more money to loot...if they are sincere they would fix the refinery first.... 3 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Nobody: 10:57am On Aug 17, 2021 |
DukeNija: And the prolonged subsidy is why all our refineries eventually broke down No profit. Any money made was directed to feeding the subsidy monster Also price controls started in 1973. The actual subsidising kicked off in 1988. That's when we started selling fuel below the price it cost to.produce it Price controls are not good for any business or corporation. They are like slow release poison. By the way I never voted for Buhari and my support for subsidy removal dates back to 2011..before then I was like you against removing subsidy 1 Like |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Lavidalo: 11:10am On Aug 17, 2021 |
Ahhh
|
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by xynerise: 11:12am On Aug 17, 2021 |
amc: So that is the level Nigeria is in the world? We now compare with these above countries? |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Joe4real1988(m): 11:14am On Aug 17, 2021 |
amc:I don't wonno doubt you bro, just that adding this to the hardship(induced by this administration) we are passing through, would make the common man wish he was not given birth to. If things were to be working on fine when this comes up, everyone, including me would have shouted for joy upon hearing such news, but now, its like evicting a jobless man by the landlord��� 1 Like 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Chukwumawisdom: 11:19am On Aug 17, 2021 |
Your got it wrong bro because the poor pay more for PMT directly or indirectly: the poor don't trek to the market, they don't trek to their offices etc . In nigeria if you don't own a vehicle , you're at the mercies of the commercial transporters. The poor need PMT to even charge their phone's battery, and must importantly, once the pump price increases the prices of food items skyrocket times 3 . I don't know where you guys got this rocket science economic ideology. The Rich in nigeria can alternate between fuel , Soler and diesel why the poor depends solely on fuel. Bro this is nigeria!!! What stop the government from building and revitalizing our refinery? The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure. It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are sting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices. [/quote] 2 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by mywells: 11:32am On Aug 17, 2021 |
What do you expect from a president that can not recites his country national anthems. 1 Like 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by hstar: 11:45am On Aug 17, 2021 |
Uselessmanna: |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by hstar: 11:50am On Aug 17, 2021 |
ityP:He's being paid for what his defending here 3 Likes 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by yemi1504: 11:54am On Aug 17, 2021 |
Whiteangel1234: Ask the Yeruba Lag0s slaves and the ab0kis up North o |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by COMPAQ(m): 11:55am On Aug 17, 2021 |
Nuelito: Is standard of living in Niger, Chad and Cameroon necessarily better than Nigeria? How are they able to afford N350 petrol? |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Kraytur: 11:59am On Aug 17, 2021 |
Beancounter94: Good response but you seem to have left out the bad economy and the corruption More to say how tf did we get here And what can be done 1 Like |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by hstar: 12:02pm On Aug 17, 2021 |
Joe4real1988:They are all the same thing, Anyone u see defending the government blindly here, whether the government implemented policy affects the masses or causes hardship. Whoever u see here defending them here, is one of the paid agents. And we have them here, numberless of them 1 Like 1 Share |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by yemi1504: 12:06pm On Aug 17, 2021 |
philip0906: Not only that about the zombies not knowing subsidy removal affects that, the food that is already expensive and transportation to move around will become more expensive but they won't be affected by the latter anyway since most of them are kuku j0bless! |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by hstar: 12:11pm On Aug 17, 2021 |
blinking001:The masses |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Emekus999(m): 12:24pm On Aug 17, 2021 |
Okoroawusa:you're actually comparing Nigeria with those country? |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Nobody: 12:24pm On Aug 17, 2021 |
Kraytur: Nigeria has a bad economy because we sell our resources rather than use them to make industrial products we can export. Has been that way since independence. The problem with that is that the price for our resources is always not high enough to earn a revenue that can sustain us, which is why we end up taking loans (and we have been taking loans for decades.)..when the price is too low to sustain us. Running an economy selling raw materials encourages people to use the revenue to import...meaning not enough industries...meaning job creation is bad, meaning that people compete for the very limited government jobs available (which is why we have so much inordinate focus on which tribe gets which jobs from the lowest to highest...and why we have federal character) As for corruption, when the money from governance is not coming directly from taxes...but from selling the resources and sharing the money, he who controls the sharing of the money has a lot of power...which explains our civil war , two failed attempts at democracy, the bad religious crisis, the ethnotribal crisis, and even the class war. And a lot of corruption. And a lot of the fighting for president, governor, even local dog catcher. It also explains why hundreds of people died and were displaced in 2011, why we had two pogroms in 1966, and before that why the South west was burning in 1965...because he who controls the sharing controls a lot of things...including who benfits from the crumbs. That's why someone like me does not like APC, PDP, or any of the parties, or the power brokers in Nigeria. They are not ready to change the current way we do things. Even when it was clear it wasn't working. 1 Like |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by latiephwald(m): 12:27pm On Aug 17, 2021 |
Okoroawusa: So disappointed you could compare Nigeria to those countries. Imagine a country of over 200m population with massive Natural resources etc Compare Nigeria with some European and developed American countries |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by blinking001(m): 12:31pm On Aug 17, 2021 |
hstar:Gbamsolutely |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Okoroawusa: 12:39pm On Aug 17, 2021 |
saintruky:There are countries with refineries and oil yet they don't subsidize fuel for their citizens |
Re: Buhari Signing Of PIB: Petrol May Sell For N300, FG To Decide On Subsidy Today by Okoroawusa: 12:42pm On Aug 17, 2021 |
Beancounter94:But Buhari has now taken the bull by the horn. He needs our support |
(1) (2) (3) (4) (5) (6) (Reply)
Gunmen Raze Houses Of APC & LP Chairmen In Imo State, Kidnap Monarch's Wife / Court Grants Idara Gold Bail - Pictures / "Rotimi Amaechi Is APC's ATM Machine", Says Reno Omokri
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 58 |