Nothing is working in this cesspit.

Absolutely nothing!

Everybody go dey okay

For 11yers from 2012-2023 Nigeria and its leader has learnt absolutely nothing.
fuel scarcity is actually an issue of national security but our leaders are not seeing it in that light. Every government officials believe that if subsidy is removed the problem of fuel scarcity will eventually end but this is a big fallacy.
Currently in major cities across Nigeria where you see queue in filling Station they are fuel in those city but the problem is affordability, despite the queues you can still get fuel from the black market but it is so expensive that many people prefer to spend hours on the queue
Removing subsidy won't slove the problem of feul scarcity, removal of scarcity will only make the product available just like the black market, even the so called dangote refinnary will only slove the problem of availability...
To slove the problem of fuel scarcity across the nation the government must own and operate its own refinnary or buy a major stake in private refinnary, that way government can slove the problem of scarcity

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.

You ppl should get out!! Must we experience this every Christmas period!!

Kobonaire234:


And NNPC brings in fuel at N510/liter.

Learn to assimilate facts too ....once you do, everything makes sense

Thanks and good am.

You're the ignorant one here. The real question is why is NNPC still bringing in fuel?(used your parlance). What happened to the billions borrowed to revamp pur refineries in 2018? The failure of this inept adminstration cannot be denied.

annisy:
For 11yers from 2012-2023 Nigeria and its leader has learnt absolutely nothing.
fuel scarcity is actually an issue of national security but our leaders are not seeing it in that light. Every government officials believe that if subsidy is removed the problem of fuel scarcity will eventually end but this is a big fallacy.
Currently in major cities across Nigeria where you see queue in filling Station they are fuel in those city but the problem is affordability, despite the queues you can still get fuel from the black market but it is so expensive that many people prefer to spend hours on the queue
Removing subsidy won't slove the problem of feul scarcity, removal of scarcity will only make the product available just like the black market, even the so called dangote refinnary will only slove the problem of availability...
To slove the problem of fuel scarcity across the nation the government must own and operate its own refinnary or buy a major stake in private refinnary, that way government can slove the problem of scarcity

1.Here is how subsidy works in brief.

Assuming it costs the petroleum sector something like N500 to produce and transport fuel to end user, meaning the price at the pump should be above N500, government then comes in and tells the sector to sell fuel at say N180 to end user.

This means that the sector loses N320 per liter of fuel sold. Government pays that difference in the form of something called a subsidy.

The problem with subsidy is that the cost of refining and transporting fuel rises ....due to a number of factors (refinery improvements, maintenance, upgrandes, transport costs0) ....so eventually the N320 per liter paid as subsidy would be insufficent.


We have been doing this for years...which means NNPC has not made a profit....and as a result all our refineries are in a mess, and unless your name is Dangote, no one would invest in or build new refineries...because they would lose money in the process. Even Dangote is at risk of the same.


If subsidy goes....

1.Govenrment would no longer be dashing free money to the petrol secotr.

2.The sector would make enough money to pay for transport, and refining of fuel in Nigeria.

3.Scarcity would end


Countries like Niger, Ghana that don't have subsides....have no fuel scarcity (and they are crude oil producers too).




The short version to understanding subsidy is: Would you bake bread at a cost of N1000 a loaf, and sell that same bread at N300 a loaf to help the poor? And the government pays you N300 a loaf as 'bread subsidy'? How would your business function...expecially since government has forbidden you to raise your prices?

Ritzen:


You're the ignorant one here.

I suggest you go and give your wife the gift of a lifetime

The real question is why is NNPC still bringing in fuel?(used your parlance). What happened to the billions borrowed to revamp pur refineries in 2018? The failure of this inept adminstration cannot be denied.

[/quote]

Because NNPC has been using its profit to subsidise fuel for decades...meaning nothing left really for keeping up the refineries(TAM manintenance really meaneth nothing..and is probably (allegedly) a corruption conduit).

We have been subsiding fuel since 1973....see what selling at a loss for a long time has led us to.

The Buhari admin even made things worse. In 2016, THEY made NNPC the sole importer and also the sole people responsible for subsiding fuel. In pracitce, this means NNPC has been running even more at a loss because of that. Crazy economics....


If NNPC had been allowed to sell fuel at a profit, as it was pre 1972, and the marketets were allowed to sell fuel at a profit, we would be paying high prices, but we won't have thrown trillons down the drain over 50 years in the name of keeping fuel cheap. And the refineries would be working because sabotaging them means no money for the year.

I beg where people dey get fuel with dis kin traffic wey I dey see with my kokoro eyes ?

NIGERIAN no money but you must travel and do parties.

Angelfrost:
Well, you all fought and insulted GEJ in 2012 when he did the needul.


Those who fought and instigated riots against him are now in the seat of power, suddenly they can't perform the very miracle they demanded of the former president.

If subsidy had been allowed to die in 2012 by both supporters and foes of GEJ, we would be way ahead of this economic curve by now.

Sadly, if the subsidy has to go today, it will come at a horrendously higher price than it would have been in 2012!

It's such a shame that foresight is not the strong suit of an average Nigerian both common and elite.

how many refinery did GEJ fix and run?

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.



Anyone quoting me to abuse should remember....NNPC brings in fuel at N510 as at November and sells it at N180 now. In June last year it was N261, in 2011 it was N99 and sell it at N65.

Also remember that we have been doing the same thing for several years....decades

Then a lot of things will make sense.

Thanks for playing.

Just answer this simple question, why are we importing fuel?

Don't vote APC again

CodeTemplar:
how many refinery did GEJ fix and run?

You mean after his subsidy removal attempt was reversed due to riots and protests instigated by your current leaders?!! Or do you mean before?!!


Please, specifically ask the right questions!

I hold no brief for the man... His administration was corrupt and tainted. However, the move to remove subsidy was brilliant and even overdue.

Respect55:


Just answer this simple question, why are we importing fuel?

Because since 1973, NNPC has not been allowed to make a profit refining it here at home...short answer.

Long answer: In order to help poor people, government controls the price of fuel, which means that profits are not sufficent to keep the refineries running well (unlike the GSM sector, where MTN, Airtel and Glo set their price, make their profit, and are able to pay for all the antenna and facilities without government help)

And yes, Buhari is to blame because he has not removed subsidy.

Good am.

Kobonaire234:
GEJ, in a way, was right in 2012. As was NOI and SLS.

Please in what other way(s) was Jonathan not right in 2012 concerning fuel subsidy that Buhari called a fraud and he removed it in 2016

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.



Anyone quoting me to abuse should remember....NNPC brings in fuel at N510 as at November and sells it at N180 now. In June last year it was N261, in 2011 it was N99 and sell it at N65.

Also remember that we have been doing the same thing for several years....decades

Then a lot of things will make sense.

Thanks for playing.

This is false. A very big lie.

There is nothing like 510 per litre anywhere. It's way less than that.

Mods should pay attention to misinformation like this.

Angelfrost:


You mean after his subsidy removal attempt was reversed due to riots and protests instigated by your current leaders?!! Or do you mean before?!!


Please, specifically ask the right questions!

I hold no brief for the man... His administration was corrupt and tainted. However, the move to remove subsidy was brilliant and even overdue.

GEJ failed and Buhari too has failed. EOD.

ModCaller:


This is false. A very big lie.

There is nothing like 510 per litre anywhere. It's way less than that.

Mods should pay attention to misinformation like this.

And in response...

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari, has disclosed that the landing cost of Premium Motor Spirit(PMS), popularly called petrol is thrice N170 per litre.

Kyari, stated this on Wednesday at the Legislative Transparency and Accountability Summit organised by the House of Representatives Committee on Anti-Corruption in Abuja .


His declaration was coming barely two months after he told the resumed hearing of the ad hoc committee of the House of Representatives investigating subsidy regime from 2013 to date, chaired by Ibrahim Mustapha, that landing cost of petrol stands at N327.68 per litre.

But less than two months, the cost had ballooned to N510 per litre.

“It is not possible for you to buy fuel at N170 when your actual cost is thrice that value.

Sarce: The Sun , November 11, 2022


You were saying, good sir??

(In fairness, this is one of those times when I do wish I was lying)

seguno2:


Please in what other way(s) was Jonathan not right in 2012 concerning fuel subsidy that Buhari called a fraud and he removed it in 2016

Go and ask the APC urchins that.

Don't ask me. In 2011, I got saved and had my eyes opened to the benefit of subsidy removal.

Kobonaire234:


1.Buhari for opposing subsidy removal and for not removing it when he came into power.

2.If he had done so by 2015, we would be reaping the benefits. If he had not joined the 2011/12 protests...by now we would have more refinereis than Dangote.

Yes, I am not an APC saupporter...to answer your real question.

Thanks for your time.

Not just Búhari, Gej too , for not having the balls too to implement something he knows will benefit us all in the long run .
*I never cared about your political affiliation, the whole subsidy thing , the more I hear it, the more I get confused , I just want someone who would point who's to be blamed so I can vent my anger

agadez007:
Yoruba people are quiet because some of them want emilokan to be there,so no wahala
Even if the country burns as far as emilokan wins
nobody is occupying Ojota because it’s not Jonathan

That's one thing about many yorubas (some of them are still sensible and logical)...the rest just want it to be that a Yoruba man is President whether Nigeria is burning or not.

Backward primitive cave-like mentality

Kasdat5:


Not just Búhari, Gej too , for not having the balls too to implement something he knows will benefit us all in the long run .
*I never cared about your political affiliation, the whole subsidy thing , the more I hear it, the more I get confused , I just want someone who would point who's to be blamed so I can vent my anger

The reason why i threw in politricks is because say you oppose fuel subsidy....you must be a Buhari supporter apparently.

I agree with you but I want you to understand that the issue of fuel scarcity has to do with availability and affordability.
Removing the subsidy will only address the issue of availability but that won't address the issue of affordability...
Niger, Ghana and Co is not a perfect example to sight when it come to this debate .
The perfect example is diesel (DPK)
Subsidy is not paid on deisel in Nigeria, because subsidy is not paid on diesel you can hardly hear of diesel scarcity (availability issues has been slove) but many businesses and companies have closed down because of the high price of dpk!!!! (affordability issue has not been slove) if you own a business that requires diesel to function then you will agree that availability of the product is as important at the affordability

The government needs to own its own refiniary and operate the infiniary as a business that way the government can slove the problem of availability of the product and also make it affordable for its citizens.

From uae to Saudi to Oman to Russia and even our brothers in Libya petroleum product is very cheap because their national energy sectors equivalent of our nnpc are state own and properly run

Removal of subsidy on its own won't slove the entire problem

NNPC needs to own and operate more refinnary, that way government can decide to forego its profit to make the product affordable for Nigerians

Kobonaire234:


1.Here is how subsidy works in brief.

Assuming it costs the petroleum sector something like N500 to produce and transport fuel to end user, meaning the price at the pump should be above N500, government then comes in and tells the sector to sell fuel at say N180 to end user.

This means that the sector loses N320 per liter of fuel sold. Government pays that difference in the form of something called a subsidy.

The problem with subsidy is that the cost of refining and transporting fuel rises ....due to a number of factors (refinery improvements, maintenance, upgrandes, transport costs0) ....so eventually the N320 per liter paid as subsidy would be insufficent.


We have been doing this for years...which means NNPC has not made a profit....and as a result all our refineries are in a mess, and unless your name is Dangote, no one would invest in or build new refineries...because they would lose money in the process. Even Dangote is at risk of the same.


If subsidy goes....

1.Govenrment would no longer be dashing free money to the petrol secotr.

2.The sector would make enough money to pay for transport, and refining of fuel in Nigeria.

3.Scarcity would end


Countries like Niger, Ghana that don't have subsides....have no fuel scarcity (and they are crude oil producers too).




The short version to understanding subsidy is: Would you bake bread at a cost of N1000 a loaf, and sell that same bread at N300 a loaf to help the poor? And the government pays you N300 a loaf as 'bread subsidy'? How would your business function...expecially since government has forbidden you to raise your prices?

Ladies and gents,e done happen. I bought fuel at 280 naira this morning in owerri.. 280 folks.. now it's crystal clear to the blind and deafeningly loud to the deaf that 500/Ltr will soon be the Goal!!

nymphomaniac:
Really sad. I bought 230/ltr and wondered who cursed us as a nation.

I just poured my last 5ltr which will take me home and after that, like the biblical widow and her son, it’s to park the car at home and hope for the best.

It’s sad that there is scarcity in the midst of plenty due to mismanagement and corruption.

God will help us get things right in 2023.

annisy:
I agree with you but I want you to understand that the issue of fuel scarcity has to do with availability and affordability.
Removing the subsidy will only address the issue of availability but that won't address the issue of affordability...
Niger, Ghana and Co is not a perfect example to sight when it come to this debate .
The perfect example is diesel (DPK)
Subsidy is not paid on deisel in Nigeria, because subsidy is not paid on diesel you can hardly hear of diesel scarcity (availability issues has been slove) but many businesses and companies have closed down because of the high price of dpk!!!! (affordability issue has not been slove) if you own a business that requires diesel to function then you will agree that availability of the product is as important at the affordability

The government needs to own its own refiniary and operate the infiniary as a business that way the government can slove the problem of availability of the product and also make it affordable for its citizens.

From uae to Saudi to Oman to Russia and even our brothers in Libya petroleum product is very cheap because their national energy sectors equivalent of our nnpc are state own and properly run

Removal of subsidy on its own won't slove the entire problem

NNPC needs to own and operate more refinnary, that way government can decide to forego its profit to make the product affordable for Nigerians

Ah, so we come to the real issue.

In response, I am going to ask you a question

If you were baking bread at N1000 a loaf, would you agree for government to force you to sell that same loaf at the price of N200 to help the poor?

How would you fund worker salaries, maintenance, even your own earnings, and pay taxes, and so forth?

Answer that, and you would see why affordability is really a non-issue.

Things, sadly, cost money to make.


(Refining fuel at home would, according to one other Nairalander elsewhere, mean that fuel would have to be sold above N230. )

Kobonaire234:
Here is the problem

1.NNPC is bringing in fuel above N510 and selling it at N148 to depot as at this month...that is no longer sustainable.

2.From the article above, some indepdendent depots are buying from major marketers...at high prices...which means that they have to sell at a loss to keep to NNPC price of N179

3.Diesel costs are impuigning on overall fuel costs.


At the end, subsidy has to go to bring an end to the crisis.

I know, Nigerians will suffer. I wish it was not so, and to all those who insult me about my support for fuel subsidy removal....I have heard, I have considered it, and God knows that if there was a way to keep petrol at even N20 per liter for the sake of the poor and needy, I would take it.

But we cannot import fuel at N500 AND ABOVE , and sell it at N179, and expect miracles.

Even if we refine at home, we cannot refine fuel below N200 per liter. Before transport self.


You can insult me, you can abuse me, you can call me names, but if you won't sell at a loss....you cannot expect the petrol industry to sell at a loss...because you will encourage them to do sharp practices...which is what is happening.

It is wishful economics to import fuel at N510 and sell it at N148 and pay subsidy, that would have been used to pay for refineries , new and old...to cover the losses...while the cost of production goes up

The DSS move was lipstick on a pig. Lipstick on a pig won't turn it into Miss World...it will still be a pig. At the end, people were not moving product out because they could not afford to do so at a loss. DSS should have stuck to security. Economics is not their forte.



Either we pay the market price of fuel at the pump...like they do elsewhere...or we pay it at the IMF HQ, with them dictating the terms.


GEJ, in a way, was right in 2012. As was NOI and SLS.

Good morning.



Anyone quoting me to abuse should remember....NNPC brings in fuel at N510 as at November and sells it at N180 now. In June last year it was N261, in 2011 it was N99 and sell it at N65.

Also remember that we have been doing the same thing for several years....decades

Then a lot of things will make sense.

Thanks for playing.


Modified

HERE IS THE SOURCE OF THE N510 landing cost..

We are not meant to import at all and since it is a local product then international prices shouldn't dictate our domestic market. I support subsidy removal but it has to be in the interim while we work on local production.

Kobonaire234:


The reason why i threw in politricks is because say you oppose fuel subsidy....you must be a Buhari supporter apparently.

Qus is !!!
Why no one has the balls yet to do the needful , is it that difficult ??

Abagworo:


We are not meant to import at all and since it is a local product then international prices shouldn't dictate our domestic market. I support subsidy removal but it has to be in the interim while we work on local production.

Local production does not mean that fuel would be cheap. Refineries are made of imported stuff. And they need maintenance and upgrading

Also, who wants to invest in a business where government sets your price? No one

APC and Buhari has destroyed this country and Buhari is even the minister of petroleum... what a failure

FarahAideed:
Vote useless govt win useless prize

... that is why nigerians should be careful on who they vote next year 2033 .. nigerians should learn from their past mistakes and vote for a competent person and party

You are getting it wrong
Energy security is a matter of national security petrol, diesel, and Co is a matter of national security!!
Petrol is not like bread and should not be left in the hands of an individual or individuals to determine the pricing,,
Energy securities is like DSS


You said affordability is non-issue! Honestly you need to read & do proper research, forget what our politicians are saying



Are you aware that because of Ukraine and Russia war the price of petroleum product and electricity in uk went up,the uk government brought out 10 billion pounds as subsidy or bail out to bring the price down..

And here we are in Africa buying into the cramp our leaders are saying that affordability is not a problem

Anyway reflect on all I have said and do your proper research, please don't use Ghana, Niger and Co when doing your research use serious nation

Petrol is not like bread
Remain bless

Kobonaire234:




Ah, so we come to the real issue.

In response, I am going to ask you a question

If you were baking bread at N1000 a loaf, would you agree for government to force you to sell that same loaf at the price of N200 to help the poor?

How would you fund worker salaries, maintenance, even your own earnings, and pay taxes, and so forth?

Answer that, and you would see why affordability is really a non-issue.

Things, sadly, cost money to make.


(Refining fuel at home would, according to one other Nairalander elsewhere, mean that fuel would have to be sold above N230. )

Exceed15:
GEJ will be laughing at APC and Nigerians now . He meant well but they frustrated him out of power by fake promises. I never voted Buhari because I wasn't one of the Nigerians deceived. For those who voted this evil party.. una see una life .. rubbish.

It is laughable my brother. Sometimes I wonder if those supporting APC, come 2023, are hypnotised or they are just deliberating catching cruise. After all they have done, they still drum support for APC. Haba!!!