1. Govt imports fuel at N600/L. ($1/L abroad + sea trsp).✔️

2. Pays about N400/L out of it to sell it to Nigerians at N200/L.✔️ (N400x80mLs = #trn / year)


Foolishness?
Yes . Acute foolishness.

3. The revenue that was supposed to be used to launch satellites, build farms, industries, fund education / research, establish industrial zones, housing is used to pay for one import jambouree item.

4. It means ALL the Nigerians that were supposed to work in sector (3) above become inactive.

5. Nigeria funds one commodity but allows nine more to lie fallow.

6. They struggle to import the products of the other nine: wheat for bread; cow milk for powdered milk production; cars; smartphones; expatriates etc

7. You save #1 and spend extra #3 or #10 for liking "nfe" [free].

1. Without subsidy:
Cost of fuel: 9% annual salary
Inactive dependents: 9% annual salary
Other costs: 32% annual salary

Savings1: 50% annual salary (with prospects of growth in coming year)

2. With subsidy:
Cost of fuel: 3% annual salary
Inactive dependents: 30% annual salary
Other costs: 87% annual salary

Savings2: -20% annual salary (you dip into your past bank savings).

Weak and senseless propaganda.

NigerianAngelo:
1. Govt imports fuel at N600/L.

2. Pays about N400/L out of it to sell it to Nigerians at N200/L.


Foolishness?
Yes . Acute foolishness.

No need for many senseless debate but one question please.
Who is the owner of the N400 being used to subsidize the fuel? The few people in govt or generality of people using the cheap petrol?

New Pump prices from NNPC after order from Tinubu (May 30th meeting):

-Port Harcourt: #511
-Awka: #520


Brown roof, well (no borehole), city without Catholic should pick their own prices from list -- last column, effective today.

na naija we day na,,, shebi dem don comot am?
now we will see the benefits they were talking about

Fuel subsidy removal have not yet come to effect but Tinubu don go announce am, now see what is happening, price of fuel everywhere have increased when fuel subsidy removal have not yet come to effect. This is what happens when you swear in a senile old ancestor as president. Expect more speech blunders from him.

dyera:
Fuel subsidy removal have not yet come to effect but Tinubu don go announce am, now see what is happening, price of fuel everywhere have increased when fuel subsidy removal have not yet come to effect. This is what happens when you swear in a senile old ancestor as president. Expect more speech blunders from him.

NNPC told him at a meeting yesterday that in the first place FG will have to pay #2.8trn to keep the current fraud in place. He cancelled it.

That money should be used to provide three million jobs.

Standing5:
Weak and senseless propaganda.


No need for many senseless debate but one question please.
Who is the owner of the N400 being used to subsidize the fuel? The few people in govt or generality of people using the cheap petrol?

The 400 is not even available that was why Buhari government was borrowing hear and there

For like 2 years NNPC was not remitting anything to federation account. NNPC export crude and used the proceeds to subsidized imported refined oil

Biodun556:


The 400 is even available that was why Buhari government was borrowing hear and there

For like 2 years NNPC was not remitting anything to federation account. NNPC export crude and used the proceeds to subsidized imported refined oil

better than pot belly looter painting Dubai and London red with it.