This monster policy needs to be resisted pending the time govt shows more seriousness of piloting this nation that is crying and pleading for unity and security lacking in soul and a national conciousness while our politicians are busy rapn her dry. Enough is enough! We need everxt politician outta town. This may just be the catalysts needed. Na hunger lead German nation enter war with the world o.

ogugua88:

Na my fault. That's what I get for responding to you on NL soon after waking from sleep. I meant living comfortably. If you're saying Nigerian citizens think backwards, do I dare think which way politicians are thinking?

Check the average income and poverty line of Nigeria, and then tell yourself Nigerians don't need fuel to be subsidized. Power first, then any other thing can fall into place, including a fuel subsidy removal.

Lol! I hope you had nice dreams?

Unfortunately, there can never be a right time to make corrections in Nigeria. Every last thing is wrong with our system and shock treatment is necessay in some instances. It is unfortunate that people will have a hard time, but it shouldn't last too long.
What we really need in Nigeria is to start manufacturing, if there was a magic wand to kickstart that, I would wave it; but we've got to face the reality of how messed up our system is, chomp the bit and get on with it.

This monster policy needs to be resisted pending the time govt shows more seriousness of piloting this nation that is crying and pleading for unity and security lacking in soul and a national conciousness while our politicians are busy rapn her dry. Enough is enough! We need everxt politician outta town. This may just be the catalysts needed. Na hunger lead German nation enter war with the world o.

efisher:


Concerning the issue of details of the palliative measures, many of you erroneously believe no one has the details. I can assure you (just like the case of FOI) that all key stakeholders including the labor unions have the info. The only thing is that it takes time for those in the larger society to know. Most of us only get our info from what the pages of the newspapers and other media. As I said earlier, this will become clearer in the next few days.

Negro please! If the labour unions had any info, we'd have it too. It is impossible to keep that sort of thing secret once it leaves the halls of government. The reason why they haven't revealed even a skeletal plan to allay fears is because no such plan exists. Either they have no clue what they are going to spend (whatever's left of) the savings on, or they know that what they are planning cannot possibly convince anybody not to fight them tooth and nail.

this country is f@cked up!
mother nigeria - how did it end up this way for you?

Evil Brain:

There's a difference between being st.upid and acting st.upid. You and Okonjo-Iweala are acting st.upid.

Beaf:

I am very sure the likes of Okonjo Iweala have a very clear and focused framework. However, you have to factor in the ugliness and gutter morality of Nigerian politics; anybody making sincere fundamental structural changes would need to keep their cards close to their chest if they are to have any success.

Sorry that sounds a bit contrived to me. I think it is counter-intuitive to introduce a policy that significantly increases the hardship of most Nigerians without putting forward measures to placate those that would mostly feel the negative effects.

I understand the dirty nature of Nigerian politics but if indeed the new administration want a fresh start as they say- I would wager that openess and clarity would be a good way to start,

Bros Coogar, the country moved closer to where it is when Fashola\Tinubu impoverished Lekki\Epe indigenes with their toll gates and shot at\tear gassed them when they protested. Don't worry, subsidy removal is part of "DEVELOPMENT". Pay up jor, if you can't pay move to Cameroun!

Beaf:

Lol! I hope you had nice dreams?

Unfortunately, there can never be a right time to make corrections in Nigeria. Every last thing is wrong with our system and shock treatment is necessay in some instances. It is unfortunate that people will have a hard time, but it shouldn't last too long.
What we really need in Nigeria is to start manufacturing, if there was a magic wand to kickstart that, I would wave it; but we've got to face the reality of how messed up our system is, chomp the bit and get on with it.

Just to emphasis on what you said, Nigerians have been living a life of lie for quite a very long time. Subsidizing petrol, which will not last forever, led us to the current mess. People, at this point point, will start appreciating the true cost of living. Making unnecessary life choices of everybody having more than 10 children and insisting government to provide free or subsidize health care, education and transportation without paying taxes, is unsustainable.

The One:

Bros Coogar, the country moved closer to where it is when Fashola\Tinubu impoverished Lekki\Epe indigenes with their toll gates and shot at\tear gassed them when they protested. Don't worry, subsidy removal is part of "DEVELOPMENT". Pay up jor, if you can't pay move to Cameroun!

what fashola/tinubu did is quite different from the removal of fuel subsidy unless you are on a wind-up
fashola/tinubu(lagos), fuel price increase(every corner of nigeria). can you see the obvious difference now?

what's the minimum wage in nigeria? what's the price of fuel per litre?
i pity the common man in nigeria.

@Beaf

You seem to have avoided answering some of the concerns raised by xwolvrine and you made mention of a framework to be laid on the table by the Finance Minister etc,  Come on, lets face facts and reality this is Nigeria we are discussing here and not some Western civilized nations where political and intellectual sanity prevails.

You keep mentioning that the long term gains of deregulation will benefit Nigerians but what about the issue of Corruption that Nigeria is wallowing in and the unimagineable salary that the politicians are pocketing, if the Jonathan as intelligent as he is cannot address the issue of corruption but deems it fit to plunge Nigerians into Fuel subsidy trauma amidst the on going bombing issues rampant in the Country , it is not rocket science to say that he has failed.

And if I remember correctly you mention that Nigerians should wake up and realise that the oil we have cannot continue to pay for our subsidy but sure it can pay for the extravagance and luxury of the thieving politicians ruling this country?

Can you sincerely tell me of one social benefit the citizens of Nigeria enjoy either Old or Young that is not paid for indirectly one way or another,  let me give you an Illustration using Kuwait

THe image below shows the list of Oil producing countries



"the kuwaiti  government occasionally disburses a portion of its budget surplus as a grant to all Kuwaiti citizens. In 2006, a grant of (approximately $700) was paid to every citizen who applied. In 2007, the government implemented a debt forgiveness scheme for Kuwaiti citizens amounting to just over $1 billion. In February 2011, the government announced a grant of estimated (approximately $5.3 billion), including (approximately $3,500) to be paid to every citizen along with free monthly food baskets to each Kuwaiti family for 14 months."

Also note that "Among the benefits for Kuwaiti citizens are retirement income, marriage bonuses, housing loans, virtually guaranteed employment, free medical services, and education at all levels."

Agreed Kuwaiti's Population (by birth) is around 2M and Nigeria 1bout 160M not that I am expecting same amount of grants and aids from the Government but Nigerians are getting a very bad bargain if any at all.

Simply put it is just not right on Nigerians no matter what arguement you want to use to support this subsidy removal, there are things that should truely be in place before issues like this should be tabled for discussion at all.

My bro what is good for the part is also good for the whole. The fact that it was Lagos does not mean injustice should stand. As we say in the labour movement, injury to one means injury to all.

Abi, they came for the gypsies, since I wasn't one it didn't concern me. They came for the Jews, I kept quiet. Next time they came, they came for me,

No matter the crap rantings and futile attempts by the faceless bigots of this misguided administration to justify an insensitive policy on Nairaland, one thing is certain: Nigerians should buckle up for a hell ride in 2012. Live is going to be a whole lot harder. No promise from any government or gospel ranting merchant of hope will alleviate the depth of poverty in 2012. The last strata of the lower middle class will be eroded in 2012.

My advice to those still in possession or in control of their brains is to take time out to meditate on how to navigate your way thru this impending austerity. A cut on your budget for luxuries e.g BB subscription, phone call, champagne is okay for a start. Focus on the basic necessities till things stabilize (if they ever do).

Please ignore those faceless people ranting gibberish from government handouts and transcripts to go on in their futile attempt to appear smart. No stochastic contraption of figures from government will change your plight! What the government has effectively done is to half the purchasing power of whatever savings you have by 60%. What this means in real terms is that if you had 10 Naira in savings, the value is down to 4 Naira overnight! If you had N1million, it is now N400 thousand only! You dont need a havard degree to comprehend this for pete's sake

How do you trust an administration that cannot even keep to date. The initial proposed date was April fools day, but they beat you to it! You know why? The don't care a damn about you! The real benefactors of this sudden quantum leap in the price of PMS are the cabals that have been privy to the actual date of Jan 1 2012 months ago. They will have their investments in PMS doubled overnight. I bet you no money doubler of "babalawo" can match it!

I enjoin those still in control of their grey matter to carefully peruse the carefully crafted statement of the PPRA, and I quote:

"By this announcement, the downstream sub-sector of the petroleum industry is hereby deregulated for PMS. Service providers in the sector are now to procure products and sell same in accordance with the indicative benchmark price to be published fortnightly and posted on the PPPRA website"

The simple exegesis is that there is no guarantee on the final price. It is subject to a possible increase every fortnight!!

Happy new year with a breath of foul air!

General Buhari - the only nigerian head of state to date who had anything worthwhile to offer the nigerian people states here that the supposed fuel subsidy is a massive fraud and is merely an excuse being used to squeeze even more from the impoverished masses.

[flash=300,300]
https://www.youtube.com/watch?v=YmG_dYY7YRA[/flash]

^^^Trying to derail the topic again with this old man? What does he know about the economy. All his kind knows is to marry more wives or join the army. From where he comes from, they tell you if you are poor, it is your destiny. How many almajiris has he taken off the streets? Please stick to topic man. dont insult our intelligence and dont let us derail

dmainboss:

^^^Trying to derail the topic again with this old man? What does he know about the economy. All his kind knows is to marry more wives or join the army. From where he comes from, they tell you if you are poor, it is your destiny. How many almajiris has he taken off the streets? Please stick to topic man. dont insult our intelligence and dont let us derail

Intelligence? dont flatter yourself - i can think of a number of words to describe your way of thinking but intelligent wouldnt be one of them.

You all deserve what awaits you at the hands of this criminal govt as you cant tell the difference between genuine leaders and fraudsters.

during this man's tenure all four of nigeria's refineries were working at full capacity all of sudden GEJ and his bandwagon of theives sell you this pathetic lie about fuel subsidies.

Hasnt GEJ condemned most of you to a life of grim poverty already?

^
Crap 28 days of the month.

cap28:

General Buhari - the only nigerian head of state to date who had anything worthwhile to offer the nigerian people states here that the supposed fuel subsidy is a massive fraud and is merely an excuse being used to squeeze even more from the impoverished masses.

[flash=300,300]
https://www.youtube.com/watch?v=YmG_dYY7YRA[/flash]

sai buhari

I think the next step is to cut the cost of running Govt. GEJ should also reduce Govt spending. Nigerian politician are making more than the US Politician. GEJ advocate should defend the raised argument.

Sorry @Nadanbata, even Saint Buhari cant save you now. I suggest you stick with Saint Moritz!

caseymoney:

I think the next step is to cut the cost of running Govt. GEJ should also reduce Govt spending. Nigerian politician are making more than the US Politician. GEJ advocate should defend the raised argument.

I second this. There is no reason why the members of the NASS especially should take home more than Obama. For doing fuckall!

Beaf:

I second this. There is no reason why the members of the NASS especially should take home more than Obama. For doing fuckall!

Not bad for a wish list. But let me wake you up from dreamland. You are wishing for the impossible! Government spending will only increase in the face of this subsidy. They will have enough justifications like rise in cost of living, "escorts" etc etc.

let's watch and see what 2012 would look like. if they periodically publish approved selling price of fuel and enforce it and monitor the marketers, well and good. The issue is trust. trust the govt abit before ranting. let's see what other projects the govt would be doing within 2012 before we condemn.

yes if we can prevail on their huge robber salaries and allowances by protests allover the nation, that would be fine. let's start that one while we watch their ass/backs.

FORMER PETROLEUM MINISTER ON FUEL SUBSIDY REMOVAL
1) One barrel of Crude oil = 42gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day

4) . . 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) = 12millions litres

6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.

7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production;
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69

True cost of one litre of petroleum anywhere in Nigeria;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition and if not, they should tell us how
they came about N65/litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as there was NONE in the first place.

12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION.

Can our esteemed moderator Jarus please set-up a thread where we can monitor inflation as a result of this policy.

It would be informative for Nairalanders to be able to post the price of foodstuff as the year goes by so we can judge the wisdom of this policy and all its attendant effects.

cunny cunny man did not tell us he was declaring a state of emergency with the nation's poor

caseymoney:

I think the next step is to cut the cost of running Govt. GEJ should also reduce Govt spending. Nigerian politician are making more than the US Politician. GEJ advocate should defend the raised argument.

Supported 1000%, perhaps now that Nigerians may protest across the board, GEJ can push through measures to do just that and the cronies at the top will have no choice but to allow it.

Hopefully, that will lead to a mass exodus away from a "career" in politics for the leeches, as they will simply lose interest and go elsewhere to scavenge.

swezenberg:

FORMER PETROLEUM MINISTER ON FUEL SUBSIDY REMOVAL
1) One barrel of Crude oil = 42gallons or 159 litres

2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day

3) Actual refineries capacity due to ageing equipment = 30% i.e. 133,500 barrels per day

4) . . 133,500 barrels = 21.2 million litres

5) Local required consumption (F.O.S) = 12millions litres

6) It means that even our MORIBOND refineries can actually meet our local consumption need of petroleum.

7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production;
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distr/bridging fund Margin -$15.69

True cost of one litre of petroleum anywhere in Nigeria;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition and if not, they should tell us how
they came about N65/litre.

10) Locally refined products cannot be sold at International price.

11) We really do not need FGN SUBSIDY as there was NONE in the first place.

12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION.

no. 12 has always been the problem , from police to the ordinary worker in an office in naija, bribery/corruption, injustices, corruption is regarded as smartness everywhere. who will enforce law when the law makers, the people and the enforcement agencies are corrupt already.

a massive revolution by people of goodwill, strength and integrity is urgently needed. God help naija.

Go on gej I believe in you.

Please enjoy d fresh air. Stop phocking complaining

blacksta:

Go on gej I believe in you.

Please enjoy d fresh air. Stop phocking complaining

Lets enjoy our fresh air jare

Bad belle people dont disturb us

The air is fresh in Nigeria

Thank u Mr president 4 ur new year gift! Wht gud wil dis remval of fuel subsidy be 2 Nigerians? U guys in gvnment only thnk abt ur own pocket nt d masses.