Jonathan Goodluck,if them born your papa well, just remove that fuel subsidy.

9JA nation where d needs of a few outweigh d needs of all.
How come we swallow IMF poison pills sheepishly? We should have learnt from the antecedents.
How come most oil producing nations sell fuel under 25 naira?
Femi Falana said 9ja's economy is not for Nigerians seeing govt is always looking for foreign investors.
Is he not right?

edicolove:


Except you are fantasizing, rail projects are not done in 5 or 6 months. Major road projects too. The last time I travelled the Benin road, work was on going and some major parts have been done. I cannot defend the speed and quality of the project though. I think it is not as fast as should be. But I dont see how that is a reason to call GEJ a failure.

Did you even read what I wrote? Did I say "done" or comlpleted in 6 months? I wrote words like "massive", "started" "jobs"and and you go off  talking about one stretch of road which has been in a sorry state for more than 10 years. Well your standards are certainly way too low; "umblera" low.

edicolove:


So you expect the 2nd Niger bridge to have started already? You see why I called some of your expectations fantasy?

I thought I was having a sensible conversation until you said this. Why don't you find out what FEED means first. For your information before a project that huge starts it could take months to get the concept and design in, let alone construct. If that hasn't started NOW there is no way GEJ can deliver in the time he has.

Anyways it has been nice talking to you. Walk on bro, PDP style.

I know govt said a cartel benefits from the fuel subsidy.
Have you ever thought govt is lying?If true,govt is indirectly acknowledging her incompetence.
How can govt remove her spurious subsidy in a country lacking economic safety nets?
Previous increases spiked d standard of living.
Some dumb people have pointed to telecoms deregulation but conviniently forget d economic tremors&aftershocks subsidy removal 'll bring.
Anyway,that d price we pay for bad leadership,economic leeches&political prostitutes.

I know govt said a cartel benefits from the fuel subsidy.
Have you ever thought govt is lying?If true,govt is indirectly acknowledging her incompetence.
How can govt remove her spurious subsidy in a country lacking economic safety nets&previous increases spiked d standard of living.
Some dumb people have pointed to telecoms deregulation but conviniently forget d economic tremors&aftershocks subsidy removal 'll bring.
Anyway,that d price we pay for bad leadership,economic leeches&political prostitutes.

I know govt said a cartel benefits from the fuel subsidy.
Have you ever thought govt is lying?If true,govt is indirectly acknowledging her incompetence.
How can govt remove her spurious subsidy in a country lacking economic safety nets&previous increases spiked d standard of living.
Some dumb people have pointed to telecoms deregulation but conviniently forget d economic tremors&aftershocks subsidy removal 'll bring?
Anyway,that's d price we pay for bad leadership,economic leeches&political hookers.

CORRPUTION is the major enemy of Nigeria, why can't president build our own refinery here in Nigeria since he realized about 20% or so is spent on importation of cruel oil. i believe if that is the only thing is going to do, Nigeria will be grateful.

i can imaging buying petrol 20 naira again, but i believe it can be possible only if the president want and act on it,

meet Nigerian, chat, blog free @www.bigimi.com

What really touches my heart is why on earth FGN will want to be running away from its social responsibilities? Federal govts all over the world have this kind of responsibilities irrespective of the type of economic system they operate. As from January 2011, we'll be paying double of what we're paying to PHCN now. Fuel price will rise above #140 (because I believe that these types of rumour have been consistently true over the years). This is in a country where there is high rate of unemployment and more than half of those who are employed/working are actually under employed, then how do you want them to cope with rapid inflation that will follow all these policies with no mechanisms being put in place to alleviate the sufferings that'll be compounded? BTW, who built the refineries in Libya, govt or private? The corruption is at its peak in this land and this won't allow anything to work. Subsidized petrol is being diverted and with all the state resources, there is nothing govt can do about it. The same way all money for the FGN capital projects, NAPEP funds, NDE funds is being diverted over the years. But it is the masses that'll be paying for the corruption on the part of the govt.

The most pathetic of all is that these same people were common and poor men before they got to the position of authority and to believe that they are the same people that are inflicting pain on the common is unjustified and must not be encouraged by any one in the right frame of mind.

The Government for long has "its" nose on Petroleum products - stating it has no vision to develop all other sector of the economy, so the question is if the petroleum finishes what are will going to be living on?

Some quaters( for deregulation) that i believe are naive or tend to think with oscillating synapses forgot to argue their points objectively on the reason why Governors and past precidents have had the opportunity to embezzle the same state funds that they claim is not available at the peril of social infrastructure. Then why will it be that anything that has to deal with the common man has to be treated as Dogs with no choice?

If "Badluck Ebele Judas" knows he can not do anything without deregulation let "it" resign with pride and continue "it" life without shoes and stop betraying the same people that he claim he once lived like.

Who are the faceless Oil cabals or barons that import fuel? Are they not the same people? If Bill Gate from other country can come to Nigeria to better the life of the common Nigerian, then we expect more from this betrayer.
It is on record that most of these cabals have Oil refineries in other African countries and will never make refineries to work in Nigeria.
I will like to submit that there is no human justification for deregulation. Let Government complete all the refineries and build more beore they start thinking of deregulation or else Nigeria will be splitted to NI, Ge, RI, A. by REVOLUTION in West Africa

I am for subsidy removal, only after local production is facilitated. I believe the proposed removal is ill-timed and ill-advised.

Government should ensure that legislations are made to encourage local production. The PIB needs to be passed, as a matter of urgency.

We can have modular refineries in strategic locations to take care of our needs. We dont necessarily need centralized refineries, which can not be managed by government.

FUEL SUBSIDY REMOVAL = THE BEGINNING OF THE NIGERIAN REVOLUTION

it is high time gudlok made way for a better person.

i know 9ja go beta buy na our own generation go fight against dos tin, my own p

edicolove:

You tried to sound intelligent but ended up making a mess of it.

1. PPPRA fixes prices because it is not a deregulated market. They will not be relevant in a deregulated market. There will be a new bill to implement a deregulated market and organisations like PPPRA will not be relevant or will have completely different briefs.
2. Government could not build refineries because they spent all the time doing coups and counter coups and politicking. Even your beloved Buhari did not add anything to the development of the refineries while he was president and while he was petroleum minister. We are still using the refineries built by Gowon and OBJ in his first rule.
3. Refineries take time and mega money to build. It is not like you are building roads.
4. Marketers dont build refineries. Investors and Oil drilling companies build refineries. Marketers are simply that. Marketers!
5. There is nothing in it that is more than it seems. You guys want a change of the country but are not willing to put up with things that will bring change. Where you thinking that change will come easy? It will come with a lot of sacrifices and stuff that will bear on the population. But there are decisions that must be made and actions that must be taking and some of us support it because we think long term not immediate gains

You are obvioulsy uninformed! The last TWO refineries in Nigeria were built when Buhari was Petroleum Minister. He oversaw the building of two refineries and NAFCON. Go check your facts.

this fuel subsidy just dey scratch their body
Nigerians never suffer enough now

like the saying goes
the doomed dog does not hear the hunters whistle
i hope this is the catalyst for change in Nigeria,
Since the government is itching to kill Nigerian
IMF policies have been detrimental to Africa and we have as our prime minister some one who is adamant to continue to ensalve us
here is a quote

Many developing nations are in debt and poverty partly due to the policies of international institutions such as the International Monetary Fund (IMF) and the World Bank.

Their programs have been heavily criticized for many years for resulting in poverty. In addition, for developing or third world countries, there has been an increased dependency on the richer nations. This is despite the IMF and World Bank’s claim that they will reduce poverty.

Following an ideology known as neoliberalism, and spearheaded by these and other institutions known as the “Washington Consensus” (for being based in Washington D.C.), Structural Adjustment Policies (SAPs) have been imposed to ensure debt repayment and economic restructuring. But the way it has happened has required poor countries to reduce spending on things like health, education and development, while debt repayment and other economic policies have been made the priority. In effect, the IMF and World Bank have demanded that poor nations lower the standard of living of their people.

de ja vu anyone?



A Spiraling Race To The Bottom
As detailed further below, the IMF and World Bank provide financial assistance to countries seeking it, but apply a neoliberal economic ideology or agenda as a precondition to receiving the money. For example:

They prescribe cutbacks, “liberalization” of the economy and resource extraction/export-oriented open markets as part of their structural adjustment.
The role of the state is minimized.
Privatization is encouraged as well as reduced protection of domestic industries.
Other adjustment policies also include currency devaluation, increased interest rates, “flexibility” of the labor market, and the elimination of subsidies such as food subsidies.
To be attractive to foreign investors various regulations and standards are reduced or removed.
The impact of these preconditions on poorer countries can be devastating. Factors such as the following lead to further misery for the developing nations and keep them dependent on developed nations:

Poor countries must export more in order to raise enough money to pay off their debts in a timely manner.
Because there are so many nations being asked or forced into the global market place—before they are economically and socially stable and ready—and told to concentrate on similar cash crops and commodities as others, the situation resembles a large-scale price war.
Then, the resources from the poorer regions become even cheaper, which favors consumers in the West.
Governments then need to increase exports just to keep their currencies stable (which may not be sustainable, either) and earn foreign exchange with which to help pay off debts.
Governments therefore must:
spend less
reduce consumption
remove or decrease financial regulations
and so on.
Over time then:
the value of labor decreases
capital flows become more volatile
a spiraling race to the bottom then begins, which generates
social unrest, which in turn leads to IMF riots and protests around the world
These nations are then told to peg their currencies to the dollar. But keeping the exchange rate stable is costly due to measures such as increased interest rates.
Investors obviously concerned about their assets and interests can then pull out very easily if things get tough
In the worst cases, capital flight can lead to economic collapse, such as we saw in the Asian/global financial crises of 1997/98/99, or in Mexico, Brazil, and many other places. During and after a crisis, the mainstream media and free trade economists lay the blame on emerging markets and their governments’ restrictive or inefficient policies, crony capitalism, etc., which is a cruel irony.
When IMF donors keep the exchange rates in their favor, it often means that the poor nations remain poor, or get even poorer. Even the 1997/98/99 global financial crisis can be partly blamed on structural adjustment and early, overly aggressive deregulation for emerging economies.
Millions of children end up dying each year.
Competition between companies involved in manufacturing in developing countries is often ruthless. We are seeing what Korten described as “a race to the bottom. With each passing day it becomes more difficult to obtain contracts from one of the mega-retailers without hiring child labor, cheating workers on overtime pay, imposing merciless quotas, and operating unsafe practices.”

—
As a result, policies such as Structural Adjustments have, as described by Smith, contributed to “the greatest peacetime transfer of wealth from the periphery to the imperial center in history”, to which we could add, without much media attention.


Maintaining Dependency And Poverty
One of the many things that the powerful nations (through the IMF, World Bank, etc.) prescribe is that the developing nation should open up to allow more imports in and export more of their commodities. However, this is precisely what contributes to poverty and dependency.

[I]f a society spends one hundred dollars to manufacture a product within its borders, the money that is used to pay for materials, labor and, other costs moves through the economy as each recipient spends it. Due to this multiplier effect, a hundred dollars worth of primary production can add several hundred dollars to the Gross National Product (GNP) of that country. If money is spent in another country, circulation of that money is within the exporting country. This is the reason an industrialized product-exporting/commodity-importing country is wealthy and an undeveloped product-importing/commodity-exporting country is poor. [Emphasis Added]

…Developed countries grow rich by selling capital-intensive (thus cheap) products for a high price and buying labor-intensive (thus expensive) products for a low price. This imbalance of trade expands the gap between rich and poor. The wealthy sell products to be consumed, not tools to produce. This maintains the monopolization of the tools of production, and assures a continued market for the product. [Such control of tools of production is a strategy of a mercantilist process. That control often requires military might.]

— J.W. Smith, The World’s Wasted Wealth 2, (Institute for Economic Democracy, 1994), pp. 127, 139.
As seen above as well, one of the effects of structural adjustment is that developing countries must increase their exports. Usually commodities and raw materials are exported. But as Smith noted above, poor countries lose out when they

export commodities (which are cheaper than finished products)
are denied or effectively blocked from industrial capital and real technology transfer, and
import finished products (which are more expensive due to the added labor to make the product from those commodities and other resources)
This leads to less circulation of money in their own economy and a smaller multiplier effect. Yet, this is not new. Historically this has been a partial reason for dependent economies and poor nations. This was also the role enforced upon former countries under imperial or colonial rule. Those same third world countries find themselves in a similar situation. This can also be described as unequal trade:

At first glance it may seem that the growth in development of export goods such as coffee, cotton, sugar, and lumber, would be beneficial to the exporting country, since it brings in revenue. In fact, it represents a type of exploitation called unequal exchange. A country that exports raw or unprocessed materials may gain currency for their sale, but they lose it if they import processed goods. The reason is that processed goods—goods that require additional labor—are more costly. Thus a country that exports lumber but does not have the capacity to process it must then re-import it in the form of finished lumber products, at a cost that is greater than the price it received for the raw product. The country that processes the materials gets the added revenue contributed by its laborers. (Emphasis is original)

— Richard Robbins, Global Problems and the Culture of Capitalism,

Remove the subsidy ehhh!

Haba!! Nothing una go do!! NLC go strike for like one month, by the time hunger hammer nigerians small, dem go return to work then start to beg for salary increase,

But atleast some barons wey don use subsidy build upstairs no go see free money chop again,


Jonathan, I and many other Nigerians stand with you, Mudiaga! Remove it, them no fit do nathing, Na today fuel price start to increase?!

Why the price is high is because we have a 'Government' that is interested in protecting the interests of Elite because the Elite sponsored them.

Why the price is high is because we have a 'Government' that is interested in protecting the interests of Elite because the Elite sponsored them.

Persident Jonathan is right on the removal of fuel subsidy. The fuel subsidy has only benefitted fat cows like Adenuga, Tinubu and Otedola.
Anyone campaigning for the status quo to remain in palce is only trying to continue enriching these people and their partners in crime at the
NNPC.


Nigeria is not Libya, you cannot compare a country of less than ten million to a country of more than hundred million when both produce all most
the same amount of oil.

Dereuglation is very important for the Nigerian economy. Anyone that is opposed to deregulation should buy a motorcycle or better still
a bicycle.

edicolove:

Dont exhibit your ignorance. Prices don't go up in a deregulated market. They go down because of competition. The telecoms market is a good bad example. Deregulation produces competition which produces a price war and prices go down, not up. Fuel may never sell for more than N80 in a deregulated market. Maybe a little bit higher when it starts but it will then come down as investors build new refineries and the competition increases. There is nothing like cabal in a deregulated market. Why has the cabal not conspired to increase telecom prices if it is that simple?

Seems you have forgotten we are talking about Nigeria here, a country where after 10 years of the telecoms operators' existence, we still have poor infrastructures and low call quality, at the last time i checked, the cost of making calls in Nigeria is still above 10 naira per minute. Which investor will invest in refineries? The same way investors will invest in Power plants, I think they should also invest in the Presidency. SMH at the level of ignorance. I think i should remind you that dollar will soon be trading at N200 to $1.

continue deceiving yourself about the market forces that are non-existence in Nigeria.

I think the way forward is to invest in the refineries first, then set a maximum price for petroleum products, then you can talk about deregulation/ removing the subsidies

@edicolove, i could feel your passion for this great but misled country, the issue is not just the removal of subsidy, but just take a walk down the the history lane, when babangida came into power, how much was the pump price of petrol, in 1991 IBB made it 70k per litre, earnest shonekon made it N5 per litre and abacha brought it down to N3.25 for a while and latter hiked it to N11.00, in 0ct 1994, General Abdusalami increased the petrol price from N11 to a historic N25, and following outcry from Labour and the public, he “reduced it to N20 on January 6, 1999.

Then the real hike started with the dawn of “democracy” in 1999. Obasanjo “removed the subsidy on fuel” to “deregulate the downstream sector”, free government fund and waste in “unnecessary fuel subsidy, and encourage direct foreign and local investments in downstream sectors of the very corrupt Nigerian petroleum industry, more than three times during his eight-year misrule and electoral fraud. From N20 a litre when Obasanjo assumed power in 1999, he jacked it up to N30.00, but reduced it to N22.00, following public outcry in 2000. Then to about N26.00 in 2002 and then to N40.00 per litre in 2003 and after the explosive protests, he reduced it to N34.00, but later increased it to N40.00 in 2006, and finally to N75.00 just before he left power in 2007.

Hope you can picture the drama vividly now,
In all of these, the arguments have been the same by the corrupt leaders Nigeria parades; who don’t care about the welfare of its people because they get everything for free. The truth of the matter is that there has never been any subsidy. Before President Yar ‘Adua died, he confessed that a cabal had hijacked the Nigerian petroleum distribution and marketing process.

have you paused to ask your self why a country such as ours could not have one, out of its four refineries working optimally?, broh the truth is that the problem of this country lies solely on bad governance, and if nothing is done about our value system then, the alleged removal of subsidy will just come in as one of those political antics, they use in manipulating Nigerians, GOD BLESS NIGERIA