Let them Pay the 16b usd..

Who cares

They said Jonathan government failed to save when oil price was $100 dollars per barrel, today they are trying to convince the gullible that the more increase in the price of crude, the more subsidies they pay for it.who is deceiving who?

I Pity those whose who trust this government

Revolution2022:
If governments grant the local refinery operators licences in river's state the issue of paying subsidy will stop to exist.But no.There are some cabals who are benefitting from this scam call subsidy.They want it refine abroad and imported back into the country so that they will inflate the import duty and other illegal charges to make excess profit.
Besides,who are the marketers receiving subsidy payment?Are they being monitored in other to make sure that they are delivering the products?I still believe Buhari is lying about subsidy because he said it with his mouth that it is a scam.

do you mean kpofire. Illiterate graduate everywhere. Kpofire is now a refinery .no wonder Nigeria is backward like citizens like politicians

As usual most people don't get what's going on

Prices of crude are rising, so the cost of production of petrol goes up

That means the cost of subsidy goes up as well..because it is now costing more to keep fuel at 163 naira per liter.

Simple

Why are we all worrying about subsidy removal next year when Dangote's refinery will be in production before this year ends?

ogododo:
. 




https://www.vanguardngr.com/2022/01/rising-crude-price-pushes-petrol-subsidy-to-n16bn-per-day-2/

Revolution2022:
If governments grant the local refinery operators licences in river's state the issue of paying subsidy will stop to exist.But no.There are some cabals who are benefitting from this scam call subsidy.They want it refine abroad and imported back into the country so that they will inflate the import duty and other illegal charges to make excess profit.
Besides,who are the marketers receiving subsidy payment?Are they being monitored in other to make sure that they are delivering the products?I still believe Buhari is lying about subsidy because he said it with his mouth that it is a scam.

The petrol refined in the illegal refineries are not refined to standard meaning they could be dangerous to your car and the environment

Goverment legalising them would be a disaster unless they are ready to make the improvements needed to protect the environment and to refine fuel that won't mess with your engine.

Subsidy cost is going up because the cost of producing a liter of fuel is going up due to rising crude oil prices.

But wait ooo...government dey claim subsidy on fuel.....I want to even ask...where is govment seeing the money to subsidize the fuel....is it not same oil money they are using to subsidize fuel for us...abi any place dey wey dem dey generate the money from.this thing no make sence at all to me..

Na pure scam jare

backbencher:
As usual most people don't get what's going on

Prices of crude are rising, so the cost of production of petrol goes up

That means the cost of subsidy goes up as well..because it is now costing more to keep fuel at 163 naira per liter.

Simple

So are you saying it better for the price not to rise? Oya make people understand..

Even if e like make reach 1trillion dollars, this Buhari regime will not be allowed to remove subsidy. They better get that

Onepeople:
They said Jonathan government failed to save when oil price was $100 dollars per barrel, today they are trying to convince the gullible that the more increase in the price of crude, the more subsidies they pay for it.who is deceiving who?

The same reason why GEJ failed to save is the same reason why subsidies are going up now.

Under GEJ, oil was at 100 per barrel. That meant that the amount of money Gej was spending to keep oil cheap at 65 then at 97 and 87 naira per liter was too too high. Which is why he wanted to remove it , but Nigerians said no

The same thing is happening under Bubu. Oil prices are rising,the cost of production is going up and as a result he has to spend more to keep oil at 162 naira

That's a big reason why subsidy has to go and why GEJ wanted to remove it. It cost too too much to maintain

How on earth can this be true? This subsidy is more than a fraud . I m wondering who are those consuming this subsidy self. Refining our crude oil in Nigeria is a permanent solution to this subsidy fraud.

BigYash:
So are you saying it better for the price not to rise? Oya make people understand..

I'm saying subsiy has to go,or we would spend all the extra revenue we earn from the current increase in crude oil prices on maintaing fuel at 163 naira.

Something I woke up to ten years ago.

Better that people make profits and goverment keeps its money instead of is paying for a subsidy that has made domestic refining unprofitable

backbencher:


The same reason why GEJ failed to save is the same reason why subsidies are going up now.

Under GEJ, oil was at 100 per barrel. That meant that the amount of money Gej was spending to keep oil cheap at 65 then at 97 and 87 naira per liter was too too high. Which is why he wanted to remove it , but Nigerians said no

The same thing is happening under Bubu. Oil prices are rising,the cost of production is going up and as a result he has to spend more to keep oil at 162 naira

That's a big reason why subsidy has to go and why GEJ wanted to remove it. It cost too too much to maintain

to the best of my understanding, Buhari have removed subsidies twice?

ogododo:
. 




https://www.vanguardngr.com/2022/01/rising-crude-price-pushes-petrol-subsidy-to-n16bn-per-day-2/

OP PLS CORRECT UR HEADLINE NAA WHY DID U LIKE TO THEY CONFUSE PPL LIKE THIS PLS DONT CREATE WHAT U AND UR FAMILY WILL NOT HANDLE.

slivertongue:
The rogues in this incompetent govt are bent on looting everything

Yes, goverment is corrupt

But what is happening here is simple.

Cost of producing one liter of petrol has gone up . Landing cost of petrol was 282 naira this week up from 232 last year June

And we are selling the same fuel at 162 naira

Thus te cost of subsiding the petrol is going. Up from 70 naira per liter at least to 120 naira per liter at least

And all this adds up to an increase in the billions.

Noting to do with the obviously corrupt APC goverment. Everything to do with the expensive nature of subsides

backbencher:


I'm saying subsiy has to go,or we would spend all the extra revenue we earn from the current increase in crude oil prices on maintaing fuel at 163 naira.

Something I woke up to ten years ago.

Better that people make profits and goverment keeps its money instead of is paying for a subsidy that has made domestic refining unprofitable

Very well then. But when PDshit talked about removing subsidy then,Apshit said no. They staged protest in major cities across Nigeria.
The thing right now is ,I don't know who is fooling who in this whole drama crude/subsidy ..

Onepeople:
to the best of my understanding, Buhari have removed subsidies twice?

No,he was lying.

So long as goverment sets the price,there is a subsidy

What they did was to reduce the amount of money spent on subsidy . This manifested as price increase

Sometimes ,they even set the price above the cost of production, as done in 2015, and paid no subsidy till the cost of production rose above the goverment set price, then subsidy came back.

That's how subsidy removal works Buhari style. It's an old trick

40 years ago,Shagari used the same.method to raise fuel prices from 15 kobo per liter to 45 kobo per liter.

backbencher:


Yes, goverment is corrupt

But what is happening here is simple.

Cost of producing one liter of petrol has gone up . Landing cost of petrol was 282 naira this week up from 232 last year June

And we are selling the same fuel at 162 naira

Thus te cost of subsiding the petrol is going. Up from 70 naira per liter at least to 120 naira per liter at least

And all this adds up to an increase in the billions.

Noting to do with the obviously corrupt APC goverment. Everything to do with the expensive nature of subsides

Me my own question is thus.....where is government seeing the money to pay for subsidy and if they remove it ...what will they do with the money.?.embezle itpr what? Because we no see any meaning infrastructure on ground built by govt

BigYash:
Very well then. But when PDshit talked about removing subsidy then,Apshit said no. They staged protest in major cities across Nigeria.
The thing right now is ,I don't know who is fooling who in this whole drama crude/subsidy ..

Nigerians don't want subsidy to go, and that includes even loyal party men and women

Even me,I backed subsidy removal until I woke upten years ago.

Governments past and present know subsidy has to go. But the threat of a national insurrection that would degenerate into tribal warfare over raising of fuel price stopped them. Even people like Abacha.

Pls help me ask them. I just pity those people that keep supporting our wicked and evil leaders.

updatedws:
I thought Buhari said the last administration earned massively because oil sold for over $100.

he blamed his slow start to governance as a result of the fall in oil price.

now oil price is increasing and u guys are still crying?

pls what does this government want?

iamblest:



Me my own question is thus.....where is government seeing the money to pay for subsidy and if they remove it ...what will dry do with the money.?.embezle itpr what? Because we no see any meaning infrastructure on ground built by govt

Simple,they take it from oil revenue

This means that they don't have money for other things like education, health and so on

So they take a loan

The subsidy money is what is preventing the petroleum sector from collapsing. They don't make profit beecaise they sell at a loss thanks to subsidy

The subsidy money goes to.cover their losses from selling fuel at N163 below the cost of production of 200 naira and above

backbencher:


Nigerians don't want subsidy to go, and that includes even loyal party men and women

Even me,I backed subsidy removal until I woke upten years ago.

Governments past and present know subsidy has to go. But the threat of a national insurrection that would degenerate into tribal warfare over raising of fuel price stopped them. Even people like Abacha.

Perfect explanation. You're wise

ogododo:
N16bn per day, na lie be dis, even for GEJ, it no reach 10% wetin come change.

ONE QUESTION
is NiGERIA STILL AN OIL PRODUCING COUNTRY?

backbencher:


No,he was lying.

So long as goverment sets the price,there is a subsidy

What they did was to reduce the amount of money spent on subsidy . This manifested as price increase

Sometimes ,they even set the price above the cost of production, as done in 2015, and paid no subsidy till the cost of production rose above the goverment set price, then subsidy came back.

That's how subsidy removal works Buhari style. It's an old trick

40 years ago,Shagari used the same.method to raise fuel prices from 15 kobo per liter to 45 kobo per liter.

we should continue to deceive ourselves, what the government is pushing for is not total removal but usual deduction, because if we are to remove subsidy, market forces will now determine the price of PMS not the other way round, a man in sokoto will buy fuel more costly than someone in rivers state.

flexyrule:
Crude oil that is a blessing to other nations is a big curse to Nigeria.

Rising oil prices that should translate to more revenue is technically another problem for us.

How did I end up in this hole?

1. Nations that do well.from crude have very small population

Populations ranging from 1 million to 40 million.

Nigeria has 211 million people and we produce the same as Qatar which has one and a half million people

2. We spend a large amount of crude revenues on subsdizing fuel, and a host of other things

In that 1.8m barrel daily, 1.4m is from the South South. That is 1.4m multiply by $90 which equals $126m, over N60b is the revenue generated by Nigeria from South south oil daily. Then one idiot Yoruba boy abi Yorubas will come to say South West is the economic backbone of Nigeria.

South South is the one feeding all you hungry zones.

vincentjk:
If they like let them not go and invest in agriculture.

Today oil tomorrow oil yet na we borrow borrow pass. Audio oil

Agriculture cannot bring in half of what oil is bringing in.
The government has spent billions on rice cultivation since the past 10 years. We are still importing rice today.

Onepeople:
we should continue to deceive ourselves, what the government is pushing for is not total removal but usual deduction, because if we are to remove subsidy, market forces will now determine the price of PMS not the other way round, a man in sokoto will buy fuel more costly than someone in rivers state.

Indeed

But at the end the man in Sokoto and the man in rivers don't want subsidy gone.

That's the problem sadly

Petrol subsidy is a scam.

Under the last administration, oil sold for over $100 yet petrol was mostly below N100 a liter. Are they telling us that the last administration spend all our money on subsidy?

tctrills:

Agriculture cannot bring in half of what oil is bringing in.
The government has spent billions on rice cultivation since the past 10 years. We are still importing rice today.

Yes, and the countries we import from like Thailand and Brazil have something we don't have, massive wetlands

Nigeria? To create a wetland we have to build a dam and create it artificially,and at the end of the day, it needs more resources to maintain it .Our natirial wetlands on a good day aren't even up to half of what Thailand and Brazil got