@rymz- triple GBAMZ!!!!

i havent seen it better explained ANYWHERE!!!

the truth is there is actually no money!!! o god! its funny!!
so long story short even if we protest til tommorow they cannot give us back the subsidy shee? chineke!

I don't blame her!

:-x

queensmith:

@rymz- triple GBAMZ!!!!

i havent seen it better explained ANYWHERE!!!

the truth is there is actually no money!!! o god! its funny!!
so long story short even if we protest til tommorow they cannot give us back the subsidy shee? chineke!

my sister, the country is not realy broke per se, the fact is that we have an irresponsible government that is trying to cover up it inadequacies by overhauling the system. It is obvious that GEJ is not the kind of leader that Nigeria needs right now, the ministers have hijacked his government knowing that he is intellectually shallow and have little grasp of details. The man is not in control of anything even the speeches he writes do not have his mental contribution in them. He is a 4cking lameduck that is doing a job that is way over his head. Nigeria made a grave mistake voting such a mediocrity. I guess we will have to endure this regret till 2015.

^^ funny enough i dont actually believe hes a lame duck- i think theyre all in it together. to say hes a lame duck is saying he actually means well but cant do well. i dont think he gives a shit. when his term is over he probably has millions waiting for him too!

oh yeah sure,
[img]http://s05.flagcounter.com/count/d7fd/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=0/.png[/img][img]http://s06.flagcounter.com/count/pII1/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=0/.png[/img][img]http://flagcounter.com/count/H9Y2/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=0/.png[/img][img]http://2.s01.flagcounter.com/count/H9Y2/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=0/.png[/img]

Nigeria should be ready to embrace change.We have the resources but some wicked few wants to manipulate the country with their selfish need.Let give change a chance.

Queensmith
you are very correct. The man is very much in it. He is just as corrupt as an average Nigerian leader. However, he is as well lame cos obviously, his ministers have outsmarted him and are using it as advantage to steal even more than he intends to steal. It is like the ministers are kind of indirectly getting him to steal so that they can use that as justification to even the more. Look at Madueke, Alison, NNPC and his PDP friends he calls cabal. Everyone has got sth incriminating on eachother so nobody can have any moral justification to go againt anyone's interest. Why do you think GEJ is reluctant to put Madueke or the so-called Cabals in their place? He knows that is too risky. The nigga is not your ordinary smart criminal, he is very dumb amd docile to a fault, no wonder the northerners treat him with disdain. Nigga has got no balls, presence or even the smarts.

http://www.aljazeera.com/news/africa/2012/01/201219132749562385.html

she said it there ^^^^^^^^^^^^^^^^^^^^^^

tellwisdom (m)
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Re: I Only Speak To Reputable News Organisations & Not Individuals - Okonjo-iweala
« #2 on: Yesterday at 04:54:28 PM »

--------------------------------------------------------------------------------

Sorry, who is oko-ndo iwuara?


She's D Nigerian acting president for fuel subsidy matters

Did she not lie when Sowore of SR called her and she was pretending not to hear? Did she not lie when she told BBC on Monday that there is no strike in Abuja as everybody is already in the office? GEJ and his co travellers are making it increasingly difficult for me and other Nigerians to trust them. As long as any govt. Policy comes from this same woman, I would not trust or believe her. What did she not say Nigerians stand to gain if we paid 16B dollars in one swoop to Paris Club? She told us the money we use in servicing the loans will be channelled to provide education, hospitals, power etc, except there is a Nigeria somewhere else, I have not seen half of those policies implemented.
Now she is telling us again to hope and trust that this policies will work out.
I opened a thread some few days back and I pleaded with the moderators to put it on the front page, govt will not gain anything from subsidy removal. Even @Beaf could not answer my question. For goodness sake, there is no budget for subsidy this year, where will the govt get the savings from? As good as the spirit of subsidy removal is, it is absolutely criminal for NOI, SLS and GEJ to tell us we will make savings from it.

So much talking from sentiments, if you have anything against Gej, law down facts and stop the ordinary name calling, it wont yield anything.
As much as I don't want to pay more for PMS, I have not seen much sincerity from those opposing subsidy removal other than just being an opposition. Please argue on facts so I can know why I crucified Gej.

Weatern imperialism policies would impoverish nigerians and mak the poor poorer, all this okonjo iweala policies are typical economic genocides which are expected to cripple the economy.

There was no need 4 protest jarray! what did it achieve?! let mamma Ngozi carry out her plans,

A good blog on the current state of the nation!!

www.cutting-edge-view..com/2012/01/oily-affairs-of-profligate-nation.html?m=1

wellmax:

So much talking from sentiments, if you have anything against Gej, law down facts and stop the ordinary name calling, it wont yield anything.
As much as I don't want to pay more for PMS, I have not seen much sincerity from those opposing subsidy removal other than just being an opposition. Please argue on facts so I can know why I crucified Gej.

It is not funny that you are unaware of the facts against GEJ.
The government he presides over is riddled with corruption as confirmed by himself, NOI & SLS. Instead of fighting the few corrupt individuals, he turns on you and I to make life most unbearable for us while still keeping his corrupt friends in business.
He made a budget in which apart from his salaries, he has more than 2Billion as allowances that directly or indirectly go to him.
Several months after telling us he knows the people who are behind BH, we still daily live our lives in fear of attacks and insecurity. Only few days ago, he dropped the bombshell that BH is part of govt, military and judiciary.
Are these not enough for us to see that his govt is not capable of leading Nigeria? Now tell me why a Nigerian should trust him another 1.3Trillion that exists only in his mind?

@Scribble:
That link to an Interview Okonjo Iweala gave, IS MISLEADING!

I listened to it and nothing like that came up.
Maybe you're just trying to defend her by sending us a "red-herring"?
So you can turn around that she did not say so?

Not sooo Smart dude!

BTW: The silly thing she said was that All transport vehicles in Nigeria USE DIESEL!
Chai! Does this woman ever visit a petrol station and see Danfo, Nissan Urvan buses, e.t.c ALL BUYING PETROL?
She is so out of touch with reality! Thats what IMF does to people.

And again, with a population of 150 million, 150, 000 Buses implies 100,000 people to ONE SINGLE BUS!

So, 100,000 of us should struggle to enter one single bus, THAT IS GEJ's, SANUSI's and IWEALA's ECONOMIC PALLIATIVE!

These three must be high on some cheap Drugs!

Lastpage!

Ngozi is a liar

Nairaland peeps make una know fall my hand, She says she didn't say anything like that so let us agree she didn't, People fabricate stories on social media so it's a possibilty that it is fabricated, One worthy of note is the lie that all FG websites have been recently hacked when the site links provide are actually phising sites (copycat sites). I know because I checked them out, and the real sites are still standing and operational, So let's be careful of wat info we believe.

my follow Nairalanders, as much as i don't support the removal fuel Subsidy without actually coming down hard on the corrupt petrol officials and the marketers, but the Govt instead took a simpler route to impovrishing the poor more!
If the woman didn't say what she denied then, please stop the insults on her.

I'm sorry for my previous post If she actually said "the masses don't get it" then u guys cn actually go ahead and crucify her, ℓ☺ℓ, It is her job to make the masses get it, But for me o her explanations so far about why we shud remove the subsidy have been unconvincing

This economic puzzle is simple enough for anyone to solve.

* Fuel subsidy itself is a scam
* Removal of self subsidy is a scam
* Turn around maintenance of refineries is a scam
* Non development of new refineries is a scam
* Insincerity of government is a scam

Fuel Subsidy Equation
------------------------
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.

Well its not Mr. Presidents fault. It just further proofs that our standard of education is destroyed. It is expected that Okonjo Iweala Ngozi (The daughter of a Professor, a royal princess and graduate of Harvard University & MIT) would be smarter than Mr. President (The Son of canoe maker, a graduate of a dilapidated Nigerian university who went to school without shoes and listened to lectures sitting on window). Who do you expect to be smarter? She is of course doing her masters bidding (world bank) who are more interested in Nigeria paying it debt not minding whether we are dead or alive . When Ngozi Okonjo Iweala, the Finance minister and the coordinating minister for the economy (a position not provided in our constitution) presented ‘briefs’ to the Federal Executive Council on why the Jonathan administration must end the subsidy in less than a month.
When Nigerians go through these so called facts, they will find that Okonjo’s conclusions are the typical, ‘working to the answer’. Her thesis cannot stand the test of a strict scrutiny and indeed calls into question her credentials as a financial expert.
For starters:
1. Okonjo’s thesis was wrong from the beginning: she says that subsidy does not reach the poor, that only the rich and the middle class are the beneficiaries. The hollowness and shallowness of the position have been profoundly proven by the cries of agony by Nigerians. Who have been the most hit by the anti-people measure? The poor. Who have been crying loudest? The poor.
Even, if we accept her theory that the rich and middle class are the greatest beneficiaries of oil subsidy, are they not Nigerians? Are they not entitled to some goodies from their government?
2. Okonjo posited that Nigeria had spent N3.6 trillion on subsidy in five years, an average of N660 billion yearly, but fails to explain how the figure rose to N1.3 trillion in 2011, the same year like 2008 when international oil prices shot to the roof.
Using Okonjo’s statistics, the average crude oil price in 2008 was $101.78 dollars, compared with $113.98 in 2011. The amount of subsidy in those years was at variance by more than 10 per cent that any reasonable, rational, logical person will expect. What accounted for this difference? Was subsidy fund stolen to fund Jonathan’s re-election campaign? Was the increase in subsidy expenses because the oil cabal presented bogus claims for settlement?
Mrs. Okonjo Iweala did not explain and no one provided any details.
3. Okonjo’s analysis to paint subsidy as bad and to justify why it must go, were based on two oil prices and it was obvious she did so to arrive at her bogus conclusion.
In one breath, she used $113 dollars as the base price of crude oil to determine how Nigeria’s subsidized oil price ranks with other African countries. At 46 cents, petrol is cheapest in Nigeria, compared with mainly non-oil producing countries, such as Cape Verde, CAR, Malawi, Ivory Coast, Egypt, Equatorial Guinea, and Mali etc. Angola, an oil producer is also classified as selling its petrol higher than Nigeria at 69 cents a litre. If only Mrs. Okonjo had looked at her figures and graph, she would have seen two other oil producers in Africa, seating pretty below Nigeria on this price graph. These countries are Algeria, which unlike Nigeria sells more refined products than Nigeria, which sells its crude to the world, without trying to add value, by refining and creating jobs at home. The other country is Libya. Algeria sells a litre of petrol at 32 cents and Libya sells its own at 17 cents. They are fellow oil producers like our country. According to Okonjo, these countries offer cheap fuel to their people because they are not as populated like Nigeria and because they have higher per capita than Nigeria.
However missing from her explanation was whether those countries behave like Nigeria’s irresponsible rulers, spending three-quarters of their budget on recurrent expenditure, cutlery, bullet proof cars and so on.
4. In another breath, Mrs. Okonjo compared Nigeria’s oil price last year, with a mixed bag of European, Latin America and African nations, all oil producers. These statistics showed that Nigeria’s price at N65 was not the cheapest in the world. Although petrol sold cheaper here then than Angola and Sudan, in Venezuela, it is almost free at 3 cents. Brunei, Yemen, Oman, Algeria, Kuwait, Bahrain, Qatar, Saudi Arabia, Iran all offer their petrol very cheap to their people. In Iran, it is 10 cents, compared with Nigeria’s January 2012 price of almost $1. The Saudis sell their oil at 17 cents, Kuwait at 22 cents.
5. With subsidy removed, we can already feel the effects the increase has had on the Nigerian people: it has further pauperized them and has made things more difficult for the 90 per cent living on less than $2 a day, according to Sanusi Lamido Sanusi, the Central bank governor.
6. In further analysis, Okonjo presented another graph that shows Nigeria’s position, among other oil producers and African nations after the subsidy removal. The graph puts the cost of fuel at 69 cents, using another oil price as basis—$90 per barrel. Of course all Nigerians know that the fuel they are selling at gas stations is between N141 and N150, which is very close to $1. Curiously, on the same graph sits USA. There, a litre of oil is 80 cents, cheaper than what the Russians (84 cents), the Indonesians (83 cents), war-torn Iraq (81 cents) pay for a litre of fuel.
7. Nigerians need to ask Okonjo the logic that supports citizens of an oil-producing nation, like Nigeria, paying more money for fuel than the Americans, oil importers, pay. America has a greater per capita than Nigeria; the least income earner in America earns at least $24,000 a year, compared with Nigeria where 90 per cent live on $2 a day.
Will this policy not diminish further our people’s capacity to get out of the vicious bracket of poverty? How now will 90 per cent of Nigerians starving on $2 a day, not be economically asphyxiated when commodity prices have jumped, in some cases by 100 per cent?
In my view, her argument and the entire policy of removing the fuel subsidy are ill thought out and ‘callous’ as some Nigerians have said.

Maybe They should explain to us why its difficult to learn from better countries like Venezuela where fuel is sold for less than N5 per litre, an oil producing nation like Nigeria whose citizens love their President despite he being despised and hated by the western world. Okonjo Iweala should put the interest of the citizens ahead of world bank please.

THERE are similarities between Venezuela and Nigeria. Both are sovereign, oil producing nations, and members of the Organisation of Oil Producing Countries (OPEC).
But that is where the similarities end. While Venezuelans are enjoying all the benefits of an oil producing country, same could not be said of Nigerians.
When Enerique Fernando Arrundell, the Venezuela Ambassador to Nigeria, paid about N12, 000 to refuel his car over two years ago, he expressed shock to Mrs. Dora Akunyili, the then Minister of Information and Communication
He said: “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12, 000 here (Nigeria); in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners. You have to have your own country. The oil is yours. Sorry I am telling you this. I am giving you the experience of Venezuela. We have 12 refineries in the United States, 18,000 gas stations in the West Coast. All we are doing is in the hands of the Venezuelans. Before 1999, we had three or four foreign companies working with us. That time they were taking 80 per cent, and giving us 20. Now, we have 90 per cent, and giving them 10 per cent. But now, we have 22 countries working with us in that condition.
“It is the Venezuelan condition. You know why? It is because 60 per cent of the income goes to social programmes. That’s why we have 22,000 medical doctors assisting the people in the community. The people don’t go to the hospital; doctors go to their houses. This is because the money is handled by the Venezuelans. How come Nigeria that has more technical manpower than Venezuela, with 150 million people, and very intellectual people all around, not been able to get it right?
“The question is, if you are not handling your resources, how are you going to handle the country? So, it is important that Nigeria takes control of its resources. We have no illiterate people. We have over 17 new universities totally free. I graduated from the university without paying one cent and take three meals every day, because we have the resources. We want the resources of the Nigerian people for the Nigerians. ”

Please read this: “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12,000 here (Nigeria), in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners.-ENERIQUE FERNANDO ARRUNDELL, the Venezuelan Ambassador to Nigeria

Please who can confirm this? Could this be true? I read the post from a link on the website.

It is very sad to note that our unproductive lawmakers earn more than the leaders of the developed economies. The figures below is definitely a smack on the sensibilities of Nigerians. The yearly salaries the leaders of the developed countries are:

1. President Barack Obama (USA)- $400,000.00
2. Prime Minister Davaid Cameron (UK) - $222,000.00
3. President Nicolas Sarkozy (France) - $302,000.00
4. Chancellor Angela Merkel (Germany) - $296,000.00
5. President Hu Jintao (China)- $11,000.00

Contrast the above with the yearly salaries of Nigerian Federal Lawmakers
1. Senator (Nigeria) - $1,100,000.00 (x 109)
2. Member, House of Representative (Nigeria) - $834,402.00 (x 360)

What are these lawmakers contributing to the growth and development of the Nigerian economy to deserve such hefty salaries? Just this week, there was massive pay cut (up to 52%) for politicians in Singapore. On which planet is Nigeria, an underdeveloped country, to afford such blatant waste of our very limited resources. Enough is Enough of this LOOTING OF OUR TREASURY.

Some stupid dudes are invading our NL
They are hiding under the internet to attack respected people
The little minds concerned should abandon their evil ways b4 nemesis catches up wt them
They are haters and liars, soon their paymasters will all be exposed

Most of u supporting the subsidy removal should not forget that diesel and kerosine were deregulated years ago for the same purpose of development yet not one thing positive has been achieved. How do u remove the only benefit all nigerians now get? Why not account for the deregulation on diesel and kerosine and check other excesses before fuel subsidy removal. How wud the poor survive? Nls be realistic, be sincere to urselves fuel subsidy should be done after ,

May the slaps of the Great Bishop fall on her puff-puff cheeks.

TopAnalyst:

May the slaps of the Great Bishop fall on her puff-puff cheeks.

LOL!

Well there is already an award for the minister early this. She has been conferred with the JACK BAUR of Dr. Jonah Jonah administration as the leading actor that never dies. Remember her from Uncle Sege era!

The woman too fall hand.
So much for 'foreign graduates'

THE TRUE STORY THE GOVT WON’T TELL YOU[size=12pt][/size]

Nigeria . . . 2011. The Govt. suddenly realised that it had a debt burden that was potentially going to throw it into an economic crisis. On ‘critical analysis’ of the country’s expenditure, they realised they were spending so much on fuel subsidy for the masses.
WHY was it so much? CORRUPTION associated with the importation of the fuel,inefficiency and ineptitude of the Govt. to tackle it.
HOW can it be solved? OPTION ONE: Wage a major anti-corruption war against the CABAL using underhand practices to steal from the country’s commonwealth [corruption can NEVER be ELIMINATED. EVER! However, with sincerity of purpose of Govt., due diligence, hard work and efficiency, it can be reduced drastically]. This option was going to be too much hard work, they would step on toes (toes of the Govt, their friends and well-wishers included) and it was bound to be very messy. It was the HARD OPTION.
OPTION TWO: Eliminate fuel subsidy in its entirety and let the masses bear the cost. All in favour say Aye! . . .Aye!!! The Ayes had it. It
was unanimous! It was the EASY OPTION.

However, there was a catch! The Govt. could not sell that STORY to the people. Nigerians would not buy a story that they were being
impoverished because of a potential debt crisis. That they were being IMPOVERISHED because the Govt. could not fight corruption or ATTEMPT
to fight it. That they were being IMPOVERISHED because the Govt. could not cut down drastically on the COST OF GOVERNANCE. Borrowing the words of a man now in Govt., THE ECONOMISTS WOULD HAVE BEEN STONED.
So they had to cook up a story. A good one.

“Let’s tell them they are being cheated by a RICH CABAL,” they said. “That’s a story the poor would definitely buy. The Rich is stealing
your money. Let’s not tell them that we haven’t attempted to prosecute even ONE MEMBER OF THE RICH CABAL. Let’s not tell them that we are
INTERTWINED with this CABAL. Let’s tell them that we are going to take this money and re-invest it for infrastructural development. Let’s not
tell them that the money DOESN’T EXIST since we have only been borrowing this money and we want to stop borrowing it. Let’s tell them
that when the money is with THE GOVT and split to SEVERAL SECTORS and the THREE TIERS OF GOVT, we would manage it better and tackle the
corruption at ALL THESE LEVELS even if we couldn’t tackle the corruption in ONE SECTOR!!! Yes, let’s tell them.

"Let’s also tell them that when we remove this subsidy, SMUGGLING will stop and all the oil imported to Nigeria will stay in Nigeria. Let’s
not tell them that even after subsidy removal, smuggling will continue as long as there is a price differential. Let’s not tell them that we
are actually too LAZY, INEFFICIENT and CORRUPT to tackle smuggling at the source.
Let’s tell them that the pain is only temporary. Very temporary. That this is for the poor. Let’s not tell them that the POOR which we claim
to fight for are the people who will actually feel the pain. . .REAL LOSERS!!

Let’s hope the NIGERIAN FOOLS will believe this. Let’s tell them this is for the poor. Let’s tell them. All in favour say Aye! . . Aye!!! The Ayes had it! It was unanimous. It was a good STORY!

DISCLAIMER: I do not claim that every bit of this story is true, but it is my guess as to what the REAL STORY is, based on facts revealed
by the actors themselves, hidden truths in their statements, and COMMON SENSE. The ‘Nigerian fools’ are not gullible. . .They were not
counting on that. #OCCUPY.NIGERIA