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FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO (16897 Views)

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Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by olumike001(m): 8:05am On Apr 17
Many top guys in Nigeria are the tel demons, many of them benefited from subsidy, sold our fuel to other countries. They don't care if Nigeria burn, they take the proceeds to buy houses and save up abroad. This guys are the real enemy of Nigeria, they thrive on propaganda.

Now this is the problem the rich keep using the poor as a weapon mainly and most times to there own personal advantage. If you as a CEO is saying we are still paying for subsidy, does it mean he is selling subsidized fuel? Are they still exporting our subsidized fuel to togo, Benin n co.

Are we borrowing to pay for It? Where exactly is the money coming from?
There is subsidy and many stations are still closed? This oil thieves called CEO enjoys subsidy mainly for there selfish reason same way they enjoyed subsidized dollars.

May Nigeria succeeds

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Lithiumite: 8:10am On Apr 17
socialmediaman:
Government of lies and propaganda

They lied about fuel subsidy. Nigerians are paying so much for fuel yet there is subsidy.

They lied about floating the naira. Naira has lost a lot of value yet they’re still depleting our foreign reserves at unprecedented amounts to defend the naira

Their lies have caused untold hardship on Nigerians with rise in prices of foodstuffs, electricity tariffs, fuel increase, huge losses to foreign investors


What exactly is your grouse?The 3 leading presidential aspirants all agreed that our Forex system needed to be overhauled and that the man who won has tried to do.....There was no way the pre tinubu naira value could be sustained.... dollar is a commodity that has a value attached to it and the real value is what people are willing to buy which is why the black market professed the real value of 750 as against the govt subsidised value of 450 at the time......subsidising dollars and same privileged few that have access round trips it to the black market and sell at about 70% margin.......it wasn't sustainable.

Those crazy values of 1,500 to 1,900 where not driven by real market forces but speculators and economic saboteurs....you should know except you want to be mischievous that simple economics teaches us that the higher the price,the lesser the demand ....was it the vast majority of Nigerians who couldn't afford food to eat that was buying the dollar at those crazy rates.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Yampotatocarrot(m): 8:12am On Apr 17
nairalanda1:


1.The price controls inherent in fuel subsidy prevent domestic refining of petrol. That is why some of us want subsidy gone

2.Fuel refined illegally is bad for one's car and bad for the environment of the communites, and yes, damm too risky.



Regulation means that the cost of refining fuel by the 'illegal entities' is going to go up. LIke now, upgrading their equipment just to meet NESREA standards is going to cost them some money. Not conducive to their business model.




It is simple. Remove subsidy totally, good refineries will spring up like weeds in my farm (okay, not a good analogy, but I guess you get the point grin).

People have not been interested in licit refining because right now, if I had a legal refinery , I cannot be refining fuel at over N1000 per liter, and then come and sell it at N700 to market. Am I ment.?

Okay, thanks for breaking it down

Now, if subsidy is removed, does fuel necessarily have to sell at #1000 and above? Let's even say it sells at #850, isn't there a way to REALISTICALLY know how soon the subsidy removal will start having effect? You know people are ready to endure when they believe their suffering has an expiry date... Just like Christians ready to suffer in this world for the gains of heaven

Is it that our refineries are not producing any fuel AT ALL? If they are (irrespective of the quantity), how much are they selling to the public? Atleast, investors can use that to gauge the rate they'll sell when they build theirs

I think it's wickedness if the ones being refined in-country are being sold at the same rate as the ones being imported (which will be similar to what we're currently facing concerning imported and foreign rice)
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by seunayantokun(m): 8:16am On Apr 17
The current government didn't have a clear picture of what it would look like when subsidy was initially removed because of the darkness left in government by Buhari. So, it goofed but clandestinely went back to do the needful. However, they got an opportunity to deal with fraud in the subsidy matter, because the average daily consumption of petrol has fallen from 66.9 million litres to about 40 million litres. Dependence on petrol and fraudulent subsidy claims have reduced significantly.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Willed042(m): 8:19am On Apr 17
helinues:
Claimed with no substantiation.

Hahaha, see clowns.

How much debt have we serviced?

How much have we borrowed?

All this hullabaloo is all about how Naira has been able to grain strength without government backing.

Emefiele was briefly questioned and released to give revelations about some important things.

Make una continue to dey beside the river bank and be waiting for the blinking of a crab
Someone who is a stakeholder in the industry is talking this one with no stake in the country is here contradicting himself with his bunch of over 70 sycophants who gave him likes. In all sincerity APC crooks are very unpatriotic, they are after their selfish interest just like their leaders whom they look up to.

2 Likes

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Lithiumite: 8:22am On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.


You reintroduce subsidy, they still complain.
Noh mind them..... Dollar dey rise dem dey shout, dollar don dey come down dem still dey shout.....there is an explanation to why petrol is at the price it is,there is no budget for subsidy where would a government be getting 600b from monthly without budgeting for it.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by advanceDNA: 8:31am On Apr 17
We don't care....if they don't pay it ..they will embezzle it .......so they should pay
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by jaxxy(m): 8:39am On Apr 17
After increasing fuel price in the name of subsidy removal? undecided

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by RHINO123: 9:03am On Apr 17
but why are we not refining crude oil here in our owb very country. all these money for importation and subsidy... warri, PORTHARCOURT, lagos.... we have refineries here in Nigeria nah... na wa.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Joey4321: 9:04am On Apr 17
Biodun556:
Anything about subsidy would be over in 2 months time

I'll be back to quote you.

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by RisenObinna: 9:38am On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.


You reintroduce subsidy, they still complain.
Shut up. Why didn't he publicly announce its reintroduction like he did on his inauguration. The economy was plunged into chaos because of his careless statement. Stop being a hypocrite!

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Riskymarvelous(m): 9:38am On Apr 17
odinaccess:
How much come remain inside budget ....
₦6600 agbadorians naija dollar
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by owunabastard: 10:08am On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.


You reintroduce subsidy, they still complain.
See this ediot, why removing fuel subsidy in the first place? that skyrocketed and brought hardship to Nigerians and you come back to pay subsidy again. Meanwhile cost of goods and services have gone up seriously affecting the standard of living
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by nairalanda1(m): 10:19am On Apr 17
Yampotatocarrot:


Okay, thanks for breaking it down

Now, if subsidy is removed, does fuel necessarily have to sell at #1000 and above? Let's even say it sells at #850, isn't there a way to REALISTICALLY know how soon the subsidy removal will start having effect? You know people are ready to endure when they believe their suffering has an expiry date... Just like Christians ready to suffer in this world for the gains of heaven

Fuel has to sell at the price that would ensure enough profit is made for all debts to be settled, taxes paid, and improvements made and investment. Fuel price should not be set by government.

Is it that our refineries are not producing any fuel AT ALL? If they are (irrespective of the quantity), how much are they selling to the public? Atleast, investors can use that to gauge the rate they'll sell when they build theirs

No, fuel has been falling (in 1988 NNPC was refining 400000bpd, by 2012 it was 92000bpd then by 2019 it was 6000bpd. ) Effects of subsidy.


I think it's wickedness if the ones being refined in-country are being sold at the same rate as the ones being imported (which will be similar to what we're currently facing concerning imported and foreign rice)

At the moment we don't know how much Dangote wants to sell PMS. Till May at the earliest before we know.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by LZAA: 10:24am On Apr 17
helinues:


That guy helinues must have shown some people shege and Atarodo on this forum.

grin cheesy

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by cjudy(m): 10:34am On Apr 17
helinues:


That guy helinues must have shown some people shege and Atarodo on this forum.

grin cheesy
Zone B

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Timmi: 10:44am On Apr 17
Lizzysamuel:


https://nairametrics.com/2024/04/16/fg-now-pays-about-n600-billion-monthly-for-fuel-subsidy-rainoil-ceo-ogbechie/

It’s people like this man that is distorting the market. How come the cost of fuel at his filing station not going down in reflection of the Naira appreciation. He should tell us how much is buying fuel when the exchange is about 1,800 and how much is same now that the rate is now 1,100. Yet the fuel price at his station still remains the same at 680-690 per liter. Also the pump at the Rainoil gas station is stealing from buyers, when you pay for 25-liters of fuel, it will be like 3/4 full of the standard 25-liter Jerry can.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by blaqtom(m): 10:50am On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.


You reintroduce subsidy, they still complain.

When it was reintroduced did it return to the original price it was before it was removed….
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by nlreserve: 11:07am On Apr 17
OkayDaddy:


Debt Management Office
Dmo.gov.ng

Carry your wahala there.

Next!
Na person wey try get mumu sense I asked
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by prophetfire: 11:09am On Apr 17
helinues:
Claimed with no substantiation.

Hahaha, see clowns.

How much debt have we serviced?

How much have we borrowed?

All this hullabaloo is all about how Naira has been able to grain strength without government backing.

Emefiele was briefly questioned and released to give revelations about some important things.

Make una continue to dey beside the river bank and be waiting for the blinking of a crab
Lies and propaganda don't develop a country.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Honestey: 11:35am On Apr 17
This one is believable to sons of hate, it's not Audio or propaganda news but naira appreciation is propaganda to the same set of creatures. FG should find a way to round up this people and quarantine them, they don't deserve to live in the midst of sane people.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by peculiar2233: 11:52am On Apr 17
helinues:
Claimed with no substantiation.

Hahaha, see clowns.

How much debt have we serviced?

How much have we borrowed?

All this hullabaloo is all about how Naira has been able to grain strength without government backing.

Emefiele was briefly questioned and released to give revelations about some important things.

Make una continue to dey beside the river bank and be waiting for the blinking of a crab
Must you be inane because you are supporting the evil party called APC?

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Anunakeeh: 12:06pm On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.

You reintroduce subsidy, they still complain.

You **** sense.

Subsidy was never really removed. It was only removed on paper which was the biggest scam in the history of sh!thole. They just deliberated increase the fuel price so the ignoramus masses can pay more so you b*stards can have abundant money to loot.

Citizens of any oil producing nation shouldn't be buying fuel at a hight cost. But you are governed by Evil people.

Most of you don't use your brain. It's just there for decoration.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by frog12: 12:29pm On Apr 17
gra gra tinubu. he failed to keep his promise grin grin grin grin
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by gabicon: 12:51pm On Apr 17
Lizzysamuel:


https://nairametrics.com/2024/04/16/fg-now-pays-about-n600-billion-monthly-for-fuel-subsidy-rainoil-ceo-ogbechie/

Mr Ogbechie is speculating, he is right that the government may be subsidising petrol but he can't prove the price or how such subsidy is paid. The subsidy might be in form of crude for petrol exchange or cash, but one sure thing is that the marketers are not being paid subsidy.
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by femi4: 4:16pm On Apr 17
Godfullsam:
Nigeria and Nigerians are very difficult to govern.

You remove subsidy, they complain.


You reintroduce subsidy, they still complain.
That's because there is no impact . In a sane society, if govt introduces subsidy, price of such goods becomes affordable
Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Melagros(m): 11:07pm On Apr 17
nlreserve:
no mind Helinues. He's on every thread defending them. I strongly believe he's been paid to do this. A normal man who is not benefiting can't be doing this without a rethink
Exactly

1 Like

Re: FG Now Pays About ₦‎600 Billion Monthly For Fuel Subsidy - Rainoil CEO by Alhajikd: 12:21am On Apr 18
helinues:


That guy helinues must have shown some people shege and Atarodo on this forum.

grin cheesy
You don't have shame and conscience.
God will surely judge you for supporting evil

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