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Nairaland Forum / Nairaland / General / Politics / Oil Marketers Abandon Scheme To Break Subsidy Regime (24981 Views)
Fuel Price Hike: Oil Marketers Rake In Over N21.8bn Daily / Fuel Scarcity Looms As FG, Oil Marketers Disagree On Pricing / Oil Marketers Cheat Nigerians By N198,500 Per Truck Of Product Sold (2) (3) (4)
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|Oil Marketers Abandon Scheme To Break Subsidy Regime by Islie: 8:32am On Dec 11, 2022|
DSS intervention interrupts cartel in the making
Security agency accuses them of economic sabotage
PMS now sells above N240 per litre in most states
Stakeholders in the petroleum downstream sector may have to go back to the drawing board as the recent intervention by the Department of State Security has disrupted market trends that has seen the pump price of Petroleum Motor Spirit steadily rise above the official price of N179 per litre.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Penguin2: 8:34am On Dec 11, 2022|
They should hold on… Obi is coming to remove subsidy so that their business can become profitable again and the government will also have funds for other critical projects.
But I want Nigerians to remember that we wouldn’t be talking about subsidy by now if not for Tinubu’s malicious and wicked brand of opposition politics.
In January of 2012, President Jonathan removed subsidy and introduced Subsidy Reinvestment Programme (SURE-P) to cushion the effect of the removal of subsidy, but Tinubu raised his army of urchins and led them to occupy Ojota in Lagos while Buhari and Elrufai engaged in their own walk of shame in Kaduna.
Today, that Buhari is the one crying for subsidy removal while Tinubu has lost his voice, and you say these guys are not wicked and evil?
I’m waiting to see Tinubu become president so that I will interrogate the existence of the God of Justice who repays all man according to their deeds.
Tinubu will never reap good for his evils, amen.
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by JoeNL22(m): 8:35am On Dec 11, 2022|
Islie:We need to get the oil industry right. That's the only way Nigeria can move forward.
Obi......hope you are taking note?
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by FrancescoFarino(f): 8:38am On Dec 11, 2022|
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by FrancescoFarino(f): 8:38am On Dec 11, 2022|
Oil marketers contribute a lot to the skyrocketting prices of petrol pump Price.
It will be at their advantage.
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nbote(m): 8:41am On Dec 11, 2022|
The first question I want to ask is, who is the Minister of Petroleum Everytime we blame everyone from marketers, to depot owners to NNPC.. But who is in charge of the Petroleum sector?
70 Likes 3 Shares
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by money121(m): 8:48am On Dec 11, 2022|
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by JASONjnr(m): 8:48am On Dec 11, 2022|
The involvement 9f the FG is highly recommended and they had to wait until NNPC was sold because they started using federal authority to disturb them....
They should equally go after those hiking prices of goods and service during festive periods like the Christmas period....
We need to know why prices are increased...
Osinbajo tried working on it but was totally discouraged two years ago.....We can't continue like this....
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by JASONjnr(m): 8:51am On Dec 11, 2022|
The market is where the prices is hiked....They have their association and they're the filling station owners...
Just like in the case of dollar price....the parallel market is different from the CBN rate....and you can't easily have access to the CBN price...
Although, Buhari using the DSS is actually doing enough to cut down the hike...Of not, before 2023, we should be hoping to buy a litre of fuel for 500 bucks.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 8:51am On Dec 11, 2022|
The problem is , well, we cannot keep pretending that petrol is cheap.
NNPC cannot subsidize fuel forever. Eventually prices will go up.
The move by the DSS is for politics. It is not a reflection of what is happening on the ground.
Below is an image of subsidy over the years. As you can see, the subsidy rises as a percentage of our oil revenue...and when it is too much, government does a partial removal...as done by GEJ in 2011/12, Buhari in 2015, and in 2019.
Subsidy rises because cost of making petrol rises, cost of transporting it rises, and so on.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Beremx(f): 8:55am On Dec 11, 2022|
And the scarcity has to be this Yuletide period when people will have to travel? If this is not wickedness, I dunno what else to call it.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 8:56am On Dec 11, 2022|
While tinubu and Buhari did help in mobilizing support against subsidy removal in 2012...which happened, only partially...the fact is, most Nigerians do not support subsidy removal.
Back then, people were of the opinion that we were earning enough money from oil to fund subsidy (not true)....so they marched. All people saw was that fuel was once N65, now it is N140. Even the N97 that it came down to....
Buhari and tinubu just joined in for politics. In politics, you sometimes do the Machiavelli style to get into power.
But the truth is, if subsidy had gone in 2012, by now the same Buhari and Tinubu would be reaping the benefits.
Subsidy is loved by Nigerians. My worry is, whoever takes over, even if it is your Obi, if they attempt to remove subsidy, Nigerians will forget their divisions and remove them. Buhari tried to remove subsidy early this year. DSS warned him of potential national uprising. That's how subsidy is. Nigerians want it. Nigerians want cheap fuel. Politicians hear and obey. Even at the expense of our economy.
15 Likes 2 Shares
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by SadiqBabaSani: 8:58am On Dec 11, 2022|
All caused by Tinubu
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 9:01am On Dec 11, 2022|
The sector has lost money selling fuel at cheap prices all year round. Losses have to be recouped.
The thing you Nigerians need to get is that you cannot sell something that should cost N200 and more at N180 and below, and expect miracles.
Even NNPC that brings in fuel at above N250 and sells it below N200, how long is it going to sustain that? And guess where the money comes from?
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Asgard73: 9:02am On Dec 11, 2022|
Subsidy is a big scam..
The question to ask ..
Who are the oil marketers and who controls them .. not regulate.
Buhari as a man of integrity promised to remove subsidy .. what happened .. like Gej.. he met giants bigger than Nigeria .. and the rest na history
He’s can’t wait to retire back to daura.. and end that very chapter ..
Lots of heavy interests
Subsidy have come to say.. Obasanjo told Nigerians that they will buy fuel at 100 .. when it was 26..
Today Nigerians are willing to oay 300 a liter.
Privatize nnpc and built refineries.. maybe .. just maybe .. the story fit change
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Beremx(f): 9:06am On Dec 11, 2022|
Kobonaire234:who cares where the money comes from? If they can be looting the national treasury with reckless abandon, why can’t they be paying the subsidies? The masses cannot continue suffering for inability of the government to build refineries or maintain the existing ones. Ig they stop the subsidy, the money will still be stolen. Who suffers it more then?
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 9:09am On Dec 11, 2022|
Privatizing NNPC and building refineries will fail...so long as petrol is sold at N180 when it should be sold at N490 and above.
The reason why we have all this wayo is because petrol is not being sold at a profit. We don't have rice scarcity, beans scarcity, or even garri scarcity or queues for all those stuff.......because all the sellers of these commodities are allowed to set their prices as they wish.
We can build all the refineries we want...and if we still insist that fuel must be cheap because we are poor, and because we are suffering....the refineries won't earn enough money to pay for their upkeep and maintenance. Remember we do not even make most of the components.
And stop blaming 'vested interests'. The real reason why subsidy is there is because most Nigerians back it. The vested interests will do far better if subsidy goes.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by ThiefnubuBandit(f): 9:09am On Dec 11, 2022|
You won't see the useless demented Iragbiji drug criminal called Tinupoo at Ojota with his amala and ewedu shameless miscreants to campaign against subsidy. But he was very vibrant during Jonathan's regime. Evil bastard!
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Lovenorth: 9:10am On Dec 11, 2022|
Pls this useless subsidy should be formally removed and let's have peace of mind, we are tired of this scam
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by patriotic007: 9:10am On Dec 11, 2022|
Nigerian oil industry in very porous and unorganized...... Allowing a crook like Tinubu get his hands into it will spell doom for Nigeria......Alpha beta will be a child's play..... Tinubu will milk Nigeria for Generations to come......I pity Nigeria
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Komolafe89: 9:10am On Dec 11, 2022|
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Asgard73: 9:11am On Dec 11, 2022|
I don’t know how to argue ..
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by JosephXavier: 9:11am On Dec 11, 2022|
Sometimes na we dey do ourselves no be government
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|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Macphenson: 9:11am On Dec 11, 2022|
I remember when Jonathan wanted to remove subsidy, Tinubu and his ignorant urchins led a protest against that good economic move, the economy was even in a better shape to absorb the shock.
Today subsidy has become a serious National burden, The most annoying thing is this government is paying the highest subsidy ever, yet Nigerians are buying fuel at a ridiculously expensive rate, with hours on queue.
Am just wondering if Bola Ahmed Tinubu has the solution to this challenge, why is he not sharing the idea with Buhari. Obviously he doesn't.
Yesterday I bought fuel #250 per litre at that notorious AZKOL filling station at Langbasa road, Ajah.
Thunder fire any idiot still supporting this devilish APC party after the pains and suffering they put hapless Nigerians into.
All these monikers are operated by one person.
8 Likes 1 Share
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by SLIDEwaxie(m): 9:12am On Dec 11, 2022|
Penguin2:so, Obi can remove it abi but any other candidates shouldn't?
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Reinaldo: 9:12am On Dec 11, 2022|
Nigeria must be free
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Quelme: 9:12am On Dec 11, 2022|
Useless epistle as usual from another wailer.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 9:13am On Dec 11, 2022|
Because the cost of producing fuel goes up on a constant basis.
And when it goes up, so does the subsidy....meaning we spend more and more of our budget on subsides...which means that we end up having to take more loans.
Guess who suffers...the same masses.
And guess why they loot...because we haven't grasped that democracy is more than just voting...it involves participating.
Anyway, the best thing that GEJ did for Nigeria was to remove subsides on kerosene and diesel...otherwise by now we would have been funding our budget entirely from loans, and paying our entire revenue plus top up loans...for subsidy.
Finally, susbidy encoruages stealing. Since the guys are not making profits the right way, they will use subsidy to loot and make their money that way...or they go out of business and jobs get lost.
Either we pay market price for fuel at the pump ....or we pretend fuel is N40 a la APC....and we pay for it at the IMF and World Bank HQ...in form of loans ,loans and more loans.
|Re: Oil Marketers Abandon Scheme To Break Subsidy Regime by Nobody: 9:14am On Dec 11, 2022|
Petrol will be paid for...at the pump, or at the World Bank, with Mother IMF and the imperialist geng supervising the payment.
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