Debate of the Removal Of Petroleum Subsidy: In Whose Interest? Live on Channels Television now.

I could see Iweala and Mr.Sanusi (CBN governor) Ray Ekpu, Femi Otedola, Alinko Dangote, Agbakoba, Isah Aremu, the yoruba man from the north,Mr. Jakande, Ben Bruce, Femi Falana in attendance.

let see how they will discuss our future.

http://channelstv.com/global/live_video.php

Channels TV online:: http://channelstv.com/global/live_video.php

Seun front page pls.

Ngozi Okonjo-Iweala: not an attempt to persuade but an attempt to supply the facts.

1) What is the subsidy?

Igozi Iweala opening speech now with her fact. This woman sef. Watching anyway.

"Landing cost of imported PMS is N123 approx, add cost of distribution N15, comes to N138 appox" NOI

If GSM sector had not been deregulated, we won't have 80 million phone lines instead of 465,000 lines.

ss and se

I dey laugh Igozi Iweala  in my native language.

Why cost of subsidy doubled in the last year. 3 reasons:
1) Amount of PMS we consume has increased substantially.
2) Price of oil increased
3) Kerosine subsidy

Fuel subsidy benefits rich people more because they own more cars, generators and other fuel guzzling possessions.

Seun:

If GSM sector had not been deregulated, we won't have 80 million phone lines instead of 465,000 lines.

Outstanding Bullshit coming from this Lady.

Subsidy is why refinery license holders have not had the incentive to build refineries. Not economical.
They believe the huge amount can be used to help poor people in better ways

She made reference to the cost of crude and that of pms, but I would be more convinced if anyone can give an accurate cost breakdown of the diffwrence btw crude and pms, and how is there linkages btw this product prices, and what the precise relationship is btw the two product price movement.

Borrowing to remove subsidy is bad, and they've been forced to do that.

In Africa, only algeria and libya have lower prices than Nigeria.

Mobinga:

Outstanding Bullshit coming from this Lady.

Keep quiet. Whats bull shit in what she said?

Iweala said there a lot of smugglers on our petroleum products

What is the government doing about smugglers?

Oil producing countries that charge less than nigeria have much less population than Nigeria.

scopusng:

I dey laugh Igozi Iweala  in my native language.

crap

Listen objectively instead of concluding she is talking crap.

Barrels per person in Saudi Arabia 9776.  Nigeria 223.

Even after subsidy, fuel will still be quite cheap relative to most African countries and oil producers.

Seun:

Subsidy is why refinery license holders have not had the incentive to build refineries. Not economical.
They believe the huge amount can be used to help poor people in better ways

Shame on Ngozi for thinking Nigerians don't have brains.

How has the 75% non-subsidy revenue been used to better the masses' lot.

She is making some vague technical analysis (chart) on other oil producing courtier, what d heck has barrel of oil per person has to do with anything? Do they share it to us. Why don't she try comparing minimum wage of these countries she is quoting and that of Nigeria and then see their ratios and that of Nigeria?

Oh oh. They want to spend the resources on social safety nets.  That's worse than a fuel subsidy.

lol at trust govt yet they still do promise and fail

the president will spend 1 billion on food alone and he wants us to buy fuel higher, bunch of thieves. The money, energy and time spent on subsidy would have been spent doing better things

All this crap about using the savings on youth vocational training, reducing child mortality yada yada yada! Haven't we heard this b4? Can't we do this without removing subsidy? If we can't what happened to the funds meant for this? Shouldn't we be going after those funds were ever they are or whoevers pocket they are?

Iweala should shut her mouth

No one is saying subsidy should not be removed. ALL WE ARE ASKING FOR IS FOR REFINERIES TO REFINE OUR OIL before the subsidy is removed

This woman is comparing Nigeria to Libya Saudi Arabia etc when these countries have their own refineries

Who does she think she is telling those B.S. Does she think everyone is silly ?

telling use about cost of fuel higher in Nigeria than in Saudi, Madam it is because they have aramco oil which has refineries all over there country

SMH. keep deceiving Nigerians

I recommend you all read this article I posted here
https://www.nairaland.com/nigeria?topic=827931.msg9792506#msg9792506

It'll open your eyes to see more

is there really a subsidy wow !

ALL WE ARE ASKING FOR IS FOR REFINERIES TO REFINE OUR OIL before the subsidy is removed

If you had the money, would you invest in a refinery selling fuel at less than 50% of the cost of production?