Gamesmart:


Did you use your brain to think that exchange rates fluctuate and they might have calculated using the exchange rate for each year?

Now you sounding more dumb 😆 🤣

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

Your analysis isn't accurate:

First of all a set of wicked and tribalistic folks protested against subsidy removal by GEJ..which meant his Admin had to continue to pay for fuel subsidy.

Secondly GeJs admin actually paid for subsidy just as it was back then. In full..

in Buharis admin, there were claims that the fuel subsidy had been expunged many times, but the cunning government still continued to pay for subsidy to a whooping > 7 trillion naira and Nigerians still paid more for PMS.

To say Buhari isn't one that has misappropriated funds then you really need to ask yourself some good questions.. Buhari is the king of clumsiness, nonchalance, uselessness, daftness ,incompetence and olodoness when it comes to leadership...and he is also very corrupt...is it not his relative that he made the minister of aviation that has scammed the whole country with Air Nigeria ? Mtsheew...


My write up does not exclude GEJs government from been corrupt..it was a corrupt administration...but to say misappropriation of funds wasn't one of Buharis downsides is spurious.

Those statistics look funny...

Corridon:
His antecedent reads negative.

Same with Peter Obi the saint

A lot of people would see the figures and be in denial, or blame this leader and that leader.

But the figures should go a long way in showing people hw damaging subsidy is. The cost of subsidy ALWAYS increases, which is why there have been partial removals from time to time to enable us afford the cost of the thing.

Nigerians, however, love their cheap fuel.

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

At least under Jonathan, we can point fingers to who and who did it

bayelsaowei:


Your analysis isn't accurate:

First of all a set of wicked and tribalistic folks protested against subsidy removal by GEJ..which meant his Admin had to continue to pay for fuel subsidy.

Secondly GeJs admin actually paid for subsidy just as it was back then. In full..

in Buharis admin, there were claims that the fuel subsidy had been expunged many times, but the cunning government still continued to pay for subsidy to a whooping > 7 trillion naira and Nigerians still paid more for PMS.

To say Buhari isn't one that has misappropriated funds then you really need to ask yourself some good questions.. Buhari is the king of clumsiness, nonchalance, uselessness, daftness ,incompetence and olodoness when it comes to leadership...and he is also very corrupt...is it not his relative that he made the minister of aviation that has scammed the whole country with Air Nigeria ? Mtsheew...


My write up does not exclude GEJs government from been corrupt..it was a corrupt administration...but to say misappropriation of funds wasn't one of Buharis downsides is spurious.

1,.Both GEj AND Buhari should have removed subsidy

2.That Buhari paid more for subsidy and the price of fuel rose does not mean anything...and no I am not defending him.

A lot of people used to say that Buhari should return the petrol price to N87. When he took over, the landing cost was around N132. By the time he left, landing cost was N300-400 per liter.

If he had kept fuel prices at say N87, he would have ended up paying far far more for subsidy than he paid during his admin

Sme thing with GEJ...who had landing price at N99 in 2012 Jan, and when he left, it was going towars N130. If he had kept fuel at N65 as some opponets were chanting...the cost of subsidy would have been immensely high.


3.Ultimately, most Nigerians are opposed to total subsidy removal...whoever is in charge. So, leaders over the years have kept the thing despite the damage. Nothing to do with tribe. In 2012, all people saw was that they paid N65 before, now they pay N140.

Tinubu am sure would love to keep subsidy, but the rising cost over the years has led to us borrowing to pay for subsidy. So, his hand was forced. Same thing whoever else was in charge.

Subsidy regime was the biggest fraud of all times. Nigerians do not have cars to consume the quantity paid for as subsidy.

Gamesmart:


OBJ = $4.65bn per year
Yaradua = $5.65bn per year
Jonadaaft = $8.33bn per year
Buhari = $3.33bn per year

That man was so senseless, Nigeria was being looted everyday. At least $3bn per year was being comfortable looted from the coffers.

Why was the cost of subsidy higher under GEJ

wELL

1.Gej had high oil prices. Prices to the tune of over 100 dollars from 2010-14. High oil prices mean much higher cost of petrol as refining costs jump up...which lead to more money being paid for subsidies as it costs more to refine fuel, and paying for the difference between the cost price and subsidised price gets more expensive.

You see why he wanted to remove subsidy.

2. Nigerians complained and protested, and GEJ had to keep the subsidy and the expensive payment.

Yes, he should have been bold to remove the subsidy, and yes, there was a lot of corruptuion in the system, but the fact is, most of you Nigerians refused to let him end the subsidy, and thus the large expenses and corruption .

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

Yes, Jonathan spent more on subsidy than Buhari because subsidy costs were far more expensive under Jonathan than Buhari due to the sky high costs of crude oil under his regime.

There was a reason why GEJ so badly wanted to remove subsidy, because it was very very expensive under his regime. But you Nigerians said no.

Buhari on the other hand, did not have the same high costs of crude for most of his regime...and subsidy costs therefore were lower.

(The same corruption and stealing exisited in the subsidy regime in both regimes so don't start).

Reference:


Though subsidy corruption was at its peak during the Jonathan's regime you have not factored in the price of crude v the retail price of PMS in Nigeria. That ratio will give a better picture. In a nutshell crude prices were much higher broadly across the Jonathan regime as such the subsidy per litre of product will be the highest then.

Exactly.

What is a blessing (high crude prices) could also be a curse paradoxically (higher cost of subsidy).

freemanq:
With this money Nigeria would have built over 10 refineries over the years, but some people in power refuse because they are making money. Law of kama is very Real

Subsidy remained because most Nigerians always said no when removing it was proposed...using the same arguments being used now.

That's why even people like Abacha never removed it. They knew it would spark massive protests.

That it is going now is because our finances have reached a critical state.

Finally they Have decided to loot subsidy

klawaaa:
You know that a cat won't change to be a dog? A cat would be a cat any day, anytime and won't never changed to be a dog. From the time of immemorial, this dude is corruption personified. Everything about him is self-centeredness, and questionable.

Is there any politicians in this country that u can put your life on the line that he/she never steal public fund before?

gare:


What are you guys talking about have you checked how that was borrowed by APC government is more than what PDP borrowed in 16yrs, please get your facts right , PDP, APC are all same so I would not separate any of them they are all evil set of people taking advantage of Nigerians

My dear, we are not talking about borrowing, we are talking about subsidy... When it come to PDP APC and LP, they are all criminals, all with same characters, they are just changing clothes

lexy2014:


How does hoping make those in government to do the right thing?

Matter of time

DGOODLYF:
You see propaganda? ...Leave it for Apc...
Now you want me to believe GEJ dat only add 80naira to fuel price wen he want to remove subsidy paid more dan Buhari dat has added up 400naira to fuel price....
You guyz will just be in one room and b releasing yeye stats to deceive your gullible followers

He did for the following reasons

1.Prices of crude oil were higher, thus cost of subsidy was much higher.

This is because high crude oil prices push up the cost of subsidy.

Something similar happened last year, when the cost of crude went above 100 dollars...we ended up paying more for subsidy than we did the precceding two years.

2. There were more importers, and part of the subsidy costs goes to them...because they have to sell below market price to marketers.

That's why Buhari made NNPC the sole importer in 2016, because it cost too much to pay subsidy claims to too many private importers.(even after that, it took three years to pay the outstanding claims...claims left over from GEJ's admin).

Subsides cost a lot of money. That is why GEJ wanted to remove the thing. We said, like we have several times in the past, no.

The problem i have with government is their lack of accountability.

Corridon:
This is exactly my fear. Subsidized fuel is the only thing poor masses benefits from the government. If the money will still end up in private pockets it is better to continue the subsidy payment.

You should understand subsidy better. Poor man eats nothing from subsidized pms. When you hear NNPC, what comes to your mind? Those are the armed robbers. In the next one their monopoly will be broken. This time around, they can't escape it.

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

hope you know diesel, kerosene, cooking gas and other products were subsidise then but Buhari was on pms

obembet:
Nigeria has spent ₦16.6 trillion ($81.4 billion) on fuel Subsidy from 2005 to 2022.



Source: https://twitter.com/StatiSense/status/1666133252535463956?t=mSmfy3RHm1dZYO80Zs_KIg&s=19

This means Jonathan spend more than Buhari in 4 years, because Buhari waste $23bn in 8 years while GEJ waste $42bn in 5 years.

Jonathan administration should be probed. How come they spent so much money on subsidy in 4 years?

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

You people have come again with your PR work. Praise singer, the way you did it for Mc Oluomo. Did we buy the same price under the two administration? The highest we bought under GEJ was around N84, but your APC was around N250, N300 with subsidy. Why would subsidy payment be the same? However, there are criminals eating from subsidy payment in all their administration.

infogeneral:
Jonathan administration should be probed. How come they spent so much money on subsidy in 4 years?

Higher cost of subsidy due to high oil prices for most of his time in power.

From 2010-14, and in particular from 2012-14, oil prices were higher than 90 dollars per barrel, and even as high as 130 dollars per barrel at one point.

That made the cost of refining one liter of fuel higher, and by extension the cost of subsidizing it.

It would have been much higher if GEJ did not partially remove subsidy in 2012, raising prices from N65 to N97 per liter.

odduduwa:
hope you know diesel, kerosene, cooking gas and other products were subsidise then but Buhari was on pms

Don't mind him. He was doing PR work. We didn't buy the same price under them. The highest was N84 under GEJ, while APC was N250 N300 with subsidy

crowther15:

You people have come again with your PR work. Praise singer, the way you did it for Mc Oluomo. Did we buy the same price under the two administration? The highest we bought under GEJ was around N84, but your APC was around N250, N300 with subsidy. Why would subsidy payment be the same? However, there are criminals eating from subsidy payment in all their administration.

Actually, highest we bought under GEJ was N97...which is what he raised it to from N65 in 2012 January, AND THEN reduced it to N87 in early 2015.

Unoffically though, prices were as high as N100-187 from 2013 onwards. Subsidy costs were not enough to cover the large difference.

There were reasons why GEJ wanted to remove subsidy by raising prices to N140 in 2012.

solmusdesigns:




Wow


I went to eat at a mama put and some women got talking

The normal Ibadan hood women , traders and vendor

May God bless you

They said in their Neighborhood Yahooboys won't let them rest with Sounds of Generator from morning till night as they don't work, and they also go clubbing disturbing them at night

They said with subsidy removal atleast the money would go to power generation for the whole country and other infrastructure

If these women could understand it's Economic importance , I wonder why some educated folks are against it especially NLC boss


Nigeria has over 11,000 abandoned Projects

*Fix Ajaokuta with $1.2billion USD and Nigeria would become manufacturer of steel based products

*Complete Zhengeru Projects, Mabila dam with $500m and we have more power

*Build two Nuclear powered plant and like 5 coal plant and Generate enough power to sell accross west Africa

*Build monorail in all major city

*Build Inter state roads and rail



.

May God bless you

Not my business but my only take home is how ₦6.68tn = ($42.2bn)
But ₦7.95tn = ($23.3bn) under Buhari's administration
Shame on Buhari and his government

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

That's because the subsidy has gradually been removed since Jonathan's era. Abi did you buy fuel the same price under the Jonathan and Buhari era??

Simple mathematics. Petrol was cheaper under Jonathan because he paid more to subsidize the price of fuel than his successor.

Evolutionlove:


This is the thing that I hate most and also Vexes me about Blvck People. Hypocrisy and Whining

Why asking this Fuuleesh Question when you already know the Truth and Reality in your Mind.

Why? Why?

The Question you are supposed to be asking is Why do you Blvck People want to remain Forever Stewpid, Fuuleesh and Useless

They already know the answer na. Ape beings!

Very foolish set of human beings advocating for the removal of subsidy and foolishly hoping that it will be diverted to improving their welfare.

They will never learn from history as if they enjoy any other thing from the Nigerian government.

One vow I have made within myself is to make sure my kids never share the same passports with these backward beings or any country in Sub-saharan Africa.

I will rather remain childless and end my lineage.

N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

So ₦6.68tn is double of ₦7.95trn ?
Nigga get a life, all this 50k bmc job no go help you