the govt should use this money to create jobs

Take that’s 2.4trillion add some more to it build a refinery get other countries to invest at good interest rates build our refinery make fuel cheaper would’ve been the best option

Poverty via inflation is about to hit nigeria in ways unseen

Omg how did we get here

That is what you get when you claim that certificate of your presidential candidate is not important

Please is it that no one is advising this government or they've no be taking the advices given to them?
All of them cannot be daft at the same time. At least there should be one or two right thinking persons there.
We all know that the price of fuel controls almost the price of other commodities in the market. Nigerians are already dying of hunger due to the throat-choking inflation caused by incompetent politicians and their insensitive and ineffectual economic policies.
Wetin we do una for this country nah?

This people are thieves. What stops the government from fixing the refineries before removing the "subsidy " so that the cost of PMS wouldn't be so high? Have they thought of the inflationary effects this will bring to the economy?? The masses should just brace up for suffering if this is done, because left to me I don't trust Wabba led NLC. They are sell outs!

Buhari just created that ministry of something something to embezzle money ni

Federal government is a person in this context, don't be decieved.

FG deducted
FG borrowed

Another avenue for daylight robbery by ruthless thieves.

Fuel subsidy payments 2018: NGN722B, average oil price $71.3/barrel
https://www.premiumtimesng.com/news/top-news/385394-nigeria-spent-n722-3-billion-on-fuel-subsidy-in-2018-neiti-report.html

Fuel subsidy payments 2019: NGN1.5T, average oil price $64.3/barrel
https://www.vanguardngr.com/2020/04/n1-5trn-spent-on-fuel-subsidy-in-2019-fg/amp/

Fuel subsidy payments for 2021: NGN3T (El Rufai says Nigeria spends NGN250B per month), average oil price $69.3/barrel

How is it possible that subsidy payments double every one to two years despite the media touted "subsidy removals"? Ruthless, ruthless criminals in power. NNPC and the ministry of petroleum have to be among the most criminal minded entities that ever existed.

https://www.statista.com/statistics/262860/uk-brent-crude-oil-price-changes-since-1976/

Time to leave Nigeria

Eriokanmi:
2023 Election is approaching. These guys are so desperate. Youths, shine your eyes this time else, they'd buy your sense and dump it inside dustbin again and you'd be shouting...APC, whyyyy for another 4 years. This is the only party with systematic stealing and corruption in the world, that I know. How can you be paying 120bn naira monthly as fuel subsidy but earmark 200bn monthly as transport stipend for utopian number of Nigerians monthly? Where does the difference go to( electioneering campaigns and rigging, of course!) That's even if they'd pay up to 40m Nigerians for one year in the first place as they claim.

The school feeding programme, which was still ongoing during lockdown easily came to mind, during which students were at home with their parents. I also remember the cash palliative given to a few number of Nigerians who were displayed on the TV while they were giving them the cash on queue and they told us they've shared all the billions during lockdown. I can go on and on. They'd tell you 30k police will be deployed for election but only deploy only 5k after signing for the allowance of the 30k officers with the connivance of the IG. The allowance for the remaining 25k will be used to rig. Sadly, they'd still not pay the 5k officers the right allowance announced. I wish APC and PDP could be retired this time once and for all. They're the problems of Nigeria.

Youths, use your power this time. You're the owner of Nigeria. You have the number. Your United mind and spirits during the endsars which was why sars were banned immediately made me believe you can send them packing with your ballot. They've not been so shaken before. The onus is on you. Don't sell your future which isn't even guaranteed under this govt. Enough said.

nice one there brother. But the is that we don't have youths anymore in this country. Forget endsars, the mistake will still be made in 2023 even worst. Mark this day I told you this

GiantParrot:
Another avenue for daylight robbery by ruthless thieves.

Fuel subsidy payments 2018: NGN722B, average oil price $71.3/barrel
https://www.premiumtimesng.com/news/top-news/385394-nigeria-spent-n722-3-billion-on-fuel-subsidy-in-2018-neiti-report.html

Fuel subsidy payments 2019: NGN1.5T, average oil price $64.3/barrel
https://www.vanguardngr.com/2020/04/n1-5trn-spent-on-fuel-subsidy-in-2019-fg/amp/

Fuel subsidy payments for 2021: NGN3T (El Rufai says Nigeria spends NGN250B per month), average oil price $69.3/barrel

How is it possible that subsidy payments double every one to two years despite the media touted "subsidy removals"? Ruthless, ruthless criminals in power. NNPC and the ministry of petroleum have to be among the most criminal minded entities that ever existed.

https://www.statista.com/statistics/262860/uk-brent-crude-oil-price-changes-since-1976/

Subsidy payments double every 2 years because the cost of producing petrol also goes up every year as does the cost of transportation and importation.

The higher the cost of producing petrol the higher the cost of keeping it cheap

I see no importance in this subsidy removal, it means more suffering for us

Besides, hope you know that buhari has his own poor people list so this trillion reduction is also a scam. It would have no impact on common man.

The people down here with us that are drumming support for this subsidy removal would see crazy next year and start complaining cos transportation fares would be a death sentence. It would also affect price of food etc we are done

If a massive protest is not organised from the grassroots to stop this madness we are all in soup

DuBLINGreenb:
Thieves

That's all I'll type, I don't think I have to spell it out for anyone.

This is a case where a wrong is committed per incuriam, no need to prove anything. The court witnessed everything itself.

These thieves should Just step forward take a plea and wait for sentencing.

Edit:

Ok let me spell it out small: These people are not supposed to take money from Federation account, remember that account was made so that if anyone or any agency tampers with it the whole world (every other agency from everywhere basically everyone in government) will receive alert. Unlike before where every agency had their own separate accounts. Now They will have to say why they dipped their hands into the account and show what they spent the money On.

So as a result these politicians have been scheming "How do we collect money from the account" we need something reasonable that will be believed without a tangible measurement or concrete result you can see and touch and evaluate.

Example: We can't take money for bridge and not actually build the bridge everyone will see that there is no bridge or the bridge is not up to standard claimed.

But we can take the money and claim we sent it to 50million non existent Nigerians noone will be able to verify each of the 50m people we claimed to have sent the money to.

It's basically a way to legitimise the looting that wants to occur now in this last minutes of Bubu regime, elections are around the corner they need funds to rig and bribe and advertise and silence critics, these people are about to leave office and reality is sinking in that 8 years is not forever so thief now or regret it later that's what they are thinking. So this is the plan.

They will claim they gave 50m Nigerians 20k each meanwhile if God touch their heart they may actually give 100,000 Nigerians 20k each and those people will be their relatives, family members or close associates. And one or two random people whose jobs knowingly or unknowingly will be to serve as example that people actually received payments and sing praises that they actually got alert.

Remember the 1,000 abi 100 jobs to youths of all the local governments in Nigeria? That format is what they want to run again. That one was just a test run and it worked. Now they want to scale it up.

Thumbs up!
You really have the spirit of descernment to think deeply. Unfortunately, many Nigerians are too gullible to question criminal tendencies of this government. However, these guys in government are playing with fire. Most Nigerians are already at their wits end, frustrated and hopeless. Even well employed people that are supposedly earning good salary are finding it difficult to get by, then imagine the fate of the masses that are either unemployed or underemployed.

How many people can afford to fill their gas, fuel their car, fuel their generator, buy food stuffs, pay rent, pay school fees etc.? Yet the government still believes it can more than double the fuel price again without dire consequences?

The Endsars nationwide protests will be a child's play compared to the sort of anarchy that will envelope this country next year if they go ahead with this plan. This time around, even Northerners will join hands because they're even more at the receiving end with near absolute poverty rates!

There was a prediction years ago from some foreign agency that a mass revolution will begin in Nigeria that will make headlines accross the globe. Maybe the subsidy removal is what is going to trigger it.

backbencher:


Subsidy payments double every 2 years because the cost of producing petrol also goes up every year as does the cost of transportation and importation.

The higher the cost of producing petrol the higher the cost of keeping it cheap

Stop defending looting. Where did you get this from that the cost of producing, transporting fuel increases every year?
Do you mean the cost also increased last year?
What about 2015,16? What was said to be the cause of recession again?
You govt guys are scammers!!

King44:
I see no importance in this subsidy removal, it means more suffering for us

Besides, hope you know that buhari has his own poor people list so this trillion reduction is also a scam. It would have no impact on common man.

The people down here with us that are drumming support for this subsidy removal would see crazy next year and start complaining cos transportation fares would be a death sentence...

Lagos and Abuja would be worse hit, many workers there would end up spending all their salaries/income on transportation

FG singing

Sho ni CC
Load am cash app
Cashout
O ni maga bill am
Small money ball out
Usain bolt run am
You get sure client lock am
If you no get money leave am
EFCC n bo japa

tobestdegreat:
Our leaders are just incompetent

Someone that failed maths in waec. How do you expect him to do this big big calculations.
Abeg free the man joor

Biafrarep:


Lagos and Abuja would be worse hit, many workers there would end up spending all their salaries/income on transportation

it would be crazy, I spend 200 daily on transport now imagine what would happen next year.

People are not crying now, we will all cry together come next year.... They think it would only affect transportation, food and every other thing would be affected.


I think they did the same thing to gas and that was why it suddenly jumped from 350 to 700 per kg

Flexherbal:


How do they even reach these poor Nigerians?
I have never seen or heard of any of their palliative activities, in my village and other villages around it.

The same thing here in the north, i never heard or met a beneficiary of FG palliat.

Well It is just looting in disguise.
May Allah punish Buhari!

These people are very stupid, incompetent and always lying to President for knowing that he is inept and completely trust them.

another1:


https://punchng.com/subsidy-fg-may-deduct-n2-4tn-palliative-from-federation-account-plans-talks/

Subsidy of Petroleum is already a forgotten issue, it will be removed and the world will not come to an end. We can only ask for an increase in Minimum wage and Salary structure but Subsidy is a forgotten issue

backbencher:


Subsidy payments double every 2 years because the cost of producing petrol also goes up every year as does the cost of transportation and importation.

The higher the cost of producing petrol the higher the cost of keeping it cheap

why does the cost of producing petrol go up every year. In 2010 a barrel of crude cost $110 but today it cost $80. If fuel was N140 without subsidies in 2010 why should it be 320 today without subsidies?


You are a unique human being. You are intelligent enough to understand the truth, yet you twist the situation to favour your point of view. You are a very dangerous person.

Stop one stealing and start another
Only in naija

backbencher:


subsidy removal would not stop price of fuel from going up, what solution has the removal of subsidy solved?


The higher the cost of producing petrol the higher the cost of keeping it cheap

Will the removal of subsidy reduce cost of production?

What is the argument for removing fuel subsidy when the price will eventually go up every 2 years?


What is the relationship between subsidy removal and cost of production since cost of production directly affect price.

Why are you running away from addressing the cost production which repairing existing refineries and building modular ones will solve.?

Why not solve problem associated with importation in area of shipping cost, transportation cost and other cost that increases the price?

What is the benefit to Nigeria since the money realised will be looted by politicians.

You don't understand what you are saying

What you are saying in essence is that Nigeria will be buying fuel at increased price every 2 years when eventually subsidy is removed since you allude that cost increases every 2 years.

Bitches in power........never associate yourself with them

King44:
it would be crazy, I spend 200 daily on transport now imagine what would happen next year.

People are not crying now, we will all cry together come next year.... They think it would only affect transportation, food and every other thing would be affected.


I think they did the same thing to gas and that was why it suddenly jumped from 350 to 700 per kg

Well, you're actually living very close to your workplace. Some people are already spending over 1000 naira daily on transportation.

Two days ago, I took my 12.5 kg cylinder to refill but ended up refilling 10kg at 7500 and also fueled my car at 2500 at the same fuel station making a total of 10,000 naira spent at the spot just like that!

Yet some people think they can still double the prices when income hasn't increased?

Tianamen1:


why does the cost of producing petrol go up every year. In 2010 a barrel of crude cost $110 but today it cost $80. If fuel was N140 without subsidies in 2010 why should it be 320 today without subsidies?


You are a unique human being. You are intelligent enough to understand the truth, yet you twist the situation to favour your point of view. You are a very dangerous person.

I am gratified that you think I am very powerful. And that you think that everyone believes my comments on this nondescript site.

Especially as 99 percent of Nigerians don't agree with me anyway.

Thank you and do have a good morning

I did not abuse you, and I wonder why you cannot state your opposition to my ideas without calling me dangerous and a goverment stooge.

Anyway. Do have a prosperous day

Ttalk:


Will the removal of subsidy reduce cost of production?

What is the argument for removing fuel subsidy when the price will eventually go up every 2 years?


What is the relationship between subsidy removal and cost of production since cost of production directly affect price.

Why are you running away from addressing the cost production which repairing existing refineries and building modular ones will solve.?

Why not solve problem associated with importation in area of shipping cost, transportation cost and other cost that increases the price?

What is the benefit to Nigeria since the money realised will be looted by politicians.

You don't understand what you are saying

What you are saying in essence is that Nigeria will be buying fuel at increased price every 2 years when eventually subsidy is removed since you allude that cost increases every 2 years.

The six refineries under construction will address all your questions in due course.

For now, we have to import because decades of neglect and underselling of refined product refined at home led to loss of domestic refining capacity


Rising costs of production occurs with everything one consumes which is why one bottle of coke costs more than it did 15 years ago

Then because we use a lot of our revenue from crude to service the subsidy plus the loans we have been taking since 2008 ( because oil prices are never at a level that can sustain us) the value of the naira falls which contributes to the rise in fuel cost

Subsides also rise because goverment too cannot predict how the crude oil price will go, so they pay to make sure

As this debate over subsidy removal rages, I don't see government completely removing subsidy as proposed. I am seeing a situation where it will be partly removed, that is, price increase to #200 or there about, and that is the game that they has been going on ever since . Even during Jonathan's regime when they intended removing subsidy the people protested at the end of the day we saw fuel price increase.The same thing I think will happen in this case also. I might be wrong though.
Do not forget that as stated in another thread 2022 is a pre electioneering year, of which APC won't want to take chances.

Biafrarep:


Well, you're actually living very close to your workplace. Some people are already spending over 1000 naira daily on transportation.

Two days ago, I took my 12.5 kg cylinder to refill but ended up refilling 10kg at 7500 and also fueled my car at 2500 at the same fuel station making a total of 10,000 naira spent at the spot just like that!

Yet some people think they can still double the prices when income hasn't increased?

wow! we don enter