Beaf:

^
Believe me, I am more sorry for you. All you do is bounce around the place making personal attacks, making no sense whatsoever, blowing with the wind and standing for nothing. I recall you even lying about the "free farmland" your hero, Aregbesola gave farmers on an elephant reserve (only to get thugs to beat them off it).
Please further increase your font size to 1000pt bro, it tells something about you.

Your type is called, hypocrite. You pretend to be for the people, but you stand for corruption and ethnic bigotry.

I agree mostly with what you’ve said as I’ve advocated the same thing except for the “insider knowledge” and the running refineries costing us more. I know that the FG will need to subsidize the crude oil to the refineries or remove the artificial peg on the cost of fuel at the pump; otherwise, no private investor will touch the refineries with a 10 foot pole!

However, I’m not yet convinced that fuel from our refineries at a 100% capacity will cost us more than the current subsidy. It defies logic because the imported fuel that we buy also incurs the same type of production costs we face locally. The math is as straight forward as outline below:

Cost of crude oil (Drilling cost + opportunity cost of not exporting) + refining cost + profit + transportation = fuel price at the pump.

Bliss4Lyfe:

[size=14pt]A oil producing country like Nigeria should be ashamed of having subsidy for a resources abundantly avialable in the land. Oil subsidy must go.[/size]

Bliss4Lyfe:

[size=14pt]A oil producing country like Nigeria should be ashamed of having subsidy for a resources abundantly avialable in the land. Oil subsidy must go.[/size]

olawalebab:

Do you know what you are saying.

Kobojunkie:

Let's get you actually doing some homework. How many other oil producing countries do you know of that do not have such subsidies in place? Please name them

Bliss4Lyfe:



Look oil subsidies no doubt helps to maintain a lower price for domestic consumption but that price variation isn't much after the subsidy removal.

Subsidy only maintains an inefficient system. One, it means the quantity for fuel available for export would be less and thus puts Nigeria at an uncompetitive position amongst other OPEC countries. The market becomes unattractive for potential investors that would build refineries and create jobs in the process.

Two, Domestic oil traders benefit from selling subsidies oil with the gov and tax-payer bearing the true cost. These are the people that have become billionaires over night and fighting really hard to keep subsidies.

Three, the money gov invest on subsidies for these oil profiteers could be invested on better transport network, education, health and electrity.

Kobojunkie:

Let's get you actually doing some homework. How many other oil producing countries do you know of that do not have such subsidies in place? Please name them

Kobojunkie:

I asked you a very simple question but meaningless babble considering that your claims on subsidy, in general, are unsubstantiated ones.

Bliss4Lyfe:

The fifteen-largest oil producers outside OPEC Russia, the United States, China, Mexico, Canada, Norway, and Brazil. Britain.  NOPEC

Kobojunkie:

I wouldn't really attempt to start this by comparing Nigeria with some of the biggest economies in the world today but let's go with the countries on your list there that make some sense to Nigeria.

Are you sure you did your homework on Subsidy in Mexico? Seriously? Cause a simple google check would reveal you didn't. Same case with Russia. Now again, please do your homework.