Jostoman:
Why is this government so heartless like this, you people are just punishing Nigerians instead of making life better for every Nigerians. Nawao.

Subsidywise20:


They did not, they continued with subsidy. That is what chased away private hands from rehab and operating refineries., or even doing new ones.

Subsidy means that fuel would be sold at a loss, and government pays the petroleum industry some money..the subsidy...to cover that loss. In practice, since costs of production rise all the time...the subsidy is inadequate.

That is why we haven't had any new refineries from NNPC...NNPC has always operated at a loss for a long time.

If GEJ-Yaradua had removed subsidy, yes, we would have been buying fuel at N150 as early as 2011, BUT....there would have been enough incentive for private people to run refineries.

Privatising refineries does not mean that Company W would come and build new refinery from you...they must surely make a profit while doing so. If they cannot...they won't come. Using an example from the GSM sector...all those facilites MTN, Airtel, and Glo built...ya think they would have done so if government did not allow them to set the price of their service..so that they could recoup their investment.

Nigerians need to give up this idea that fuel must be cheap...it is driving away investment.

Subsidywise20:


Main reason for this scarcity is roughly that marketers and NNPC cannot transport petrol to end user at the current prices...because the cost of diesel is very very high...



Yep...actions have consequences.


1.Nigeria still subsidsies fuel....otherwise we would be paying between N400-700 by now.

2. UK does not subsidize gas, fuel or any other fossil fuel at all (and prices are high in part because it is taxed)

3.USA does not subsidize gas, fuel or any other fossil fuel. (They may give some assistance to the poorest of the poor to buy fuel, but that's it.). US has very high fuel prices...

4.Egypt was subsidizing fuel....but they have reduced the amount they spend on subsidy. Now they spend about 10% of what they spent in 2014 on subsides...and as a result prices have gone up (Reuters article on matter)

Cognitivereason:


Reason with ur head

why wont they pay subsidies in triple can u compare the global price of petrol today to what it was in GEJ.

so you expect FG to be paying the same amount for subsidies after Russia Ukraine war?

dey reason na..everything isnt APC

kennethfranc:
It's very sad. The fact that this is happening in an oil producing country makes me worried.

More reason why we need to vote LP come 2023.


#OBIAHMED2023

Warlord12:


https://guardian.ng/news/nnpc-quietly-approves-petrol-pump-price-hike-to-n179-litre/

IamANigerianMan:
If that will make fuel scarcity over let it be

Goodyness:
As much as I’m pained by the level of hardship APC has brought upon this country, subsidy needs to go for Nigeria to move forward. Current petrol subsidy regime is not sustainable, benefits only some cartels and not the masses as we’ve been told. Subsidizing consumption will only make the country poor and poorer. We should know this and prepare accordingly. It will not easy but it’s for the good of all. Investments will flow into local refineries creating more jobs and opportunities for the citizens.

Saintinoo:


What do you think subsidy is? US gives incentives to it citizens because of the high cost of gas, Nigeria subsidy the landing cost of petrol, is there any difference?

The government have been subsidising the landing cost of petrol by the marketers, although is not fully subsidising fuel, reason why petrol jumped from 90 naira to 179, the recent increase, if the government fully removes subsidy then petrol will sell at around 400 naira.

Forget there political talks, the government can further pay for the landing cost of petrol but they rather steal than to help the masses. You don't know how many trillions politicians steal in this country, subsidising petrol should not be the problem.

IamANigerianMan:
If that will make fuel scarcity over let it be

popez:
More hardship for the masses. What positive impact have APC made on the lives of ordinary Nigerians since they assumed power?


Our students have been at home for over 5 months now, the security situation in the country is terrifying, the common masses can barely feed once a day, what on earth have these !diots been doing the past 7 years?

Who Voted Buhari into Power for consecutively twice without a glitch for once to think over it?

I believe its Aliens from JUPITER?

Next Year is around the Corner let's VOTE IN another DULLARD into POWER

Cognitivereason:


I understand all what You said..

What you failed to include is that Dangote still showed interest in rehabilitating the refineries starting with PH..but Yar Adua rejected it..

Have you asked yourself why Dangote still embarked upon building his own despite the facts that subsidies remain..

yess the business isnt profitable ordinarily..this is why FG spends trillions to those in the Business to make it profitable as they keep importing.. Dangote could have taken over the refineries and FG allocates the subsidies to him as his rights...if FG doesnt promptly pay Dangote increases the prices of his product for him to generate his profit.. It quite tedious and unnecessarily complicated which is why ni investor wants to take that risk..but Dangote wanted to bear all this and rehabilitate a 210,000 bpd refinery in PH.. and Yar Adua just quenched it..

Today are we not in the mercy of Dangote to finish his refinery..and if he does if the price of PMS is not allowed to rise aboveN400 as it should normally be without subsidies...dont you think NNPC will now allocate all the trillions sent abroad in scarce FOREX to Dangote?

we had 2 golden opportunities but Yar Adua had no sense...I am still wondering why he is referred to as the best..Obasanjo is the best .

IamANigerianMan:
If that will make fuel scarcity over let it be

Subsidywise20:


They did not, they continued with subsidy. That is what chased away private hands from rehab and operating refineries., or even doing new ones.

Subsidy means that fuel would be sold at a loss, and government pays the petroleum industry some money..the subsidy...to cover that loss. In practice, since costs of production rise all the time...the subsidy is inadequate.

That is why we haven't had any new refineries from NNPC...NNPC has always operated at a loss for a long time.

If GEJ-Yaradua had removed subsidy, yes, we would have been buying fuel at N150 as early as 2011, BUT....there would have been enough incentive for private people to run refineries.

Privatising refineries does not mean that Company W would come and build new refinery from you...they must surely make a profit while doing so. If they cannot...they won't come. Using an example from the GSM sector...all those facilites MTN, Airtel, and Glo built...ya think they would have done so if government did not allow them to set the price of their service..so that they could recoup their investment.

Nigerians need to give up this idea that fuel must be cheap...it is driving away investment.

Cognitivereason:


I understand all what You said..

What you failed to include is that Dangote still showed interest in rehabilitating the refineries starting with PH..but Yar Adua rejected it..

Have you asked yourself why Dangote still embarked upon building his own despite the facts that subsidies remain..

yess the business isnt profitable ordinarily..this is why FG spends trillions to those in the Business to make it profitable as they keep importing.. Dangote could have taken over the refineries and FG allocates the subsidies to him as his rights...if FG doesnt promptly pay Dangote increases the prices of his product for him to generate his profit.. It quite tedious and unnecessarily complicated which is why ni investor wants to take that risk..but Dangote wanted to bear all this and rehabilitate a 210,000 bpd refinery in PH.. and Yar Adua just quenched it..

Today are we not in the mercy of Dangote to finish his refinery..and if he does if the price of PMS is not allowed to rise aboveN400 as it should normally be without subsidies...dont you think NNPC will now allocate all the trillions sent abroad in scarce FOREX to Dangote?

we had 2 golden opportunities but Yar Adua had no sense...I am still wondering why he is referred to as the best..Obasanjo is the best .

Warlord12:


https://guardian.ng/news/nnpc-quietly-approves-petrol-pump-price-hike-to-n179-litre/

akbonus:

GUY TRY USE YOUR SENSE SMALL,THIS WILL MAKE MARKETERS,PPMC,PPRC AND OTHER STAKE HOLDERS MAKE MORE MONEY AND MORE SUFFERING FOR NIGERIANS.PETROLEUM MARKETING PRICING IN NIGERIA IS THE BIGGEST SCAM IN NIGERIA,NNPC IS NIGERIA'S HEAQURTER OF CORRUPTION.MUCH OF THE STOLEN MONEY FROM NIGERIA'S FEDERATION ACCOUNT COMES OUT FROM NNPC.ONE OF THE REASON THEY ARE TRYING TO STOP OBI IS FOR HIM AND HIS DATA SPECIALIST VP NOT TO COME AND EXPOSE THEIR FRAUD IN NNPC,IF THEY DO ALL FORMER MANAGERS IN NNPC WILL GO TO KUJE,KIRI KIRI.THE QUANTITY IMPORTED,CONSUME AND THE AMOUNT PAID FOR SUBSIDY AND DUMERAGE AT THE PORT ARE AL SCAM.USELESS OLD THIEVES,WE ARE FLUSHING ALL OF THEM OUT COME NEXT YEAR.OUR EYES DON CLEAR,TELL THEM SAY OUR EYES DON OPEN OO,IN THE VOICE OF THAT MUSICIAN I DON'T KNOW HIS NAME THOUGH.

bigfish3k:

I don't have power to argue with any APC person because they talk with both sides of their mouth

Below is how you people reason :

When petrol price goes up internationally, the APC government will increase our local prices and triple subsidy payments, citing international price increment as an excuse

When petrol price also comes down internationally, the APC government will still increase local prices and triple subsidy payments, while citing international low prices.

Mtchew. You people are the ones not reasoning well and frustrating Nigerians.

God Forbid BAT thing

Subsidywise20:


Again, subsidy is what government pays to the petroleum sector to compensate them for selling fuel below its production and landing cost.

We cannot afford to subsidise petrol...even with the stealing of money goung on....it costs far too much.

(I am not excusing corruption mind you)

Also, US gives incentives to some...the minority...not EVERYONE...as in Nigeria