₦airaland Forum

guruvick:
Oga keep shot


Did you pass English in WAEC

GudluckIBB:
I suspect wema, unity, sterling and union banks

RichDad1:
O ki se omo Yoruba gidi. Se nkan ti mo ko ba e wi ti o fi n wu iwa agbero lati da mi lohun?

RichDad1:
What's wrong with this Ekpa?

RichDad1:
What's wrong with this Ekpa?

RichDad1:
What's wrong with this Ekpa?

TonyeBarcanista:
For about two weeks or more Nigerians have been wailing and crying over the scarcity of Premium Motor Spirit(PMS) otherwise known as petrol or 'fuel'. Since the whole drama started, I've been silently observing reactions of people. Most commentaries on the issue were more centred on the effect of the problem and not the problem itself or the solution to the problem. Even prominent Sai Buhari fans were not left out. How do we address a problem when our interest is on the symptoms and not the problem? What is the problem of this fuel scarcity? What is the solution? This I shall address in this article.

The Problem? Petrol Subsidy Is...
Every year, a large chunk of our scarce resources is spent on subsidising 48 million liters per day just to 'relieve the masses burden'(in quote). According to the fmr minister of finance Ngozi Iwaela, Nigeria spent a whopping N2.3 TRILLON in 2011(yes, N2.3trillion) in the name of petrol subsidizing the product at N80 per liter(while the masses buy @N65 per liter). Between 2012 and 2014, Nigeria spent an average of N1trillion every year on this subsidy payment. As at today, Nigeria is made to cough out N619 million everyday to PMS marketers in the name of subsidy payment. Yet, how many Nigerians buy this product at the subsidised rate of N87 per litre despite the exorbitant amount paid to marketers?

The problem is not just the exorbitant amount paid on subsidy, there is also the problem the fraud and manipulation perpetrated by petrol marketers and their friends/allies in government that shortchange the public. These marketers will always file payment invoice to the government even when some of them don't supply the said product. In fact, it is an open secret that some of them divert the product to neighbouring countries and still file for claims of payment.

There is the third problem of sabotage by marketers and their accomplices. They deliberately hoard some of the product so as to sell them above the approved price(like what is being experienced) after creating artificial scarcity and panic buying in order to make more money. Instead of buying at the approved price of N87/ltr, the masses are forced to pay between N150 to N300 per litre for the same product. This loss is different from the billions of public fund that the marketers directly shortchanged the government. In addition to this, valuable manhour is wasted on filling station queues by citizens that want to buy the product.
This is the reason behind the present scarcity of the product that we are experiencing for over two weeks.

The fourth problem is that of blackmail. What led to the fuel scarcity in April/May this year? The marketers after being paid N350billion, N31 billion and N154billion, came up with another N200billion request for payment. Their claim was that N159billion (of the N200billion) was for "exchange rate differential". The government said they won't pay until they verify the claim, the next day booooooooom! Fuel scarcity. As usual, Nigerians curse the government instead of looking at the issue.

A painful part of it is that nobody get convicted for the aforementioned crimes. In fact, the goats are quite aware that irrespective of the yam they eat, nothing will happen to them.

The Past Administration Missed It...
Let us recall that before the 'subsidy removal' in January 2012, the open market price of petrol was N138.59 per liter. The government was paying N73 per litre on subsidy while the masses were made to pay N65 per liter. The government of Jonathan on January 1, 2012 would later remove the subsidy completely because "it cannot be sustained" as claimed by the government. Protest and agitation ensued. The masses argument was that a 100% rise in the price of the product without palliative to ease the attendant suffering will only increase their suffering. The government on the other hand maintained that the subsidy can't be sustained. Eventually, there was a compromise. The masses were to pay N97 per litre while the government pay N41 per litre for the subsidy.

As God will have it, the open market price of the product dropped to N89.84 per liter in January 2015. A price lower than the subsidised N97 per litre as at then. The government was presented with an opportunity to end the subsidy regime while Nigerians will be paying N89.84 per litre for the product, a price lower than even the 'subsidised' product of N97/ltr as then was. The government instead chose to keep the subsidy by reducing the price of the product to N87/ltr. Let me quote the PPPRA's Executive Secretary, Farouk Ahmed


Was there any wisdom in keeping the subsidy at N3 per liter at a point when Nigerians can pay N90 per litre, a price lower than the then subsidised rate of N97 per liter? It is my opinion that Jonathan's government missed it.

The Solution? Subsidy Should Rest In Peace
As at July 2015, the landing cost of petrol was estimated at N123 per litre, while the open market cost of the product was pegged at N138 per litre. This means the government paid N51.6 per litre at N87/ltr pump price, ie spending N2.8Billion daily to service the subsidy of 48million litre per day.

As at September 10, the landing price of the product dropped to N93.93 per litre while the open market price was put at N109.42 per litre. With the pump price at N87 per litre, Nigeria is coughing out N22.42 per litre to service the subsidy and costing us N1.07billion daily on 48 million litre. (See Sept 10 publication of GUARDIAN)

As at October 20, the expected open market price of petrol was pegged at N99.9 per litre. Meaning we pay N12 per litre on subsidy at N87 per litre pump price. That is N619.2 million on 48 million litre per day. (See Oct 20 publication of Daily Trust)

I believe that the N99.9/N100 per litre is not so much for Nigerians to pay in order to end the madness and fraud associated with the fuel subsidy. It is a better option than financing the fraud perpetrated by marketers in the name of subsidy. It is better for the market to be open and regulated than condoning the act of hoarding the product aimed at panic buying at ridiculous price. Did I say it will also save the government N619million daily and N18.58billion monthly? Yes, that's what will happen. The N18.58billion that will be saved monthly will go a long way in financing capital infrastructures(especially the refineries), as well as empower the security of pipelines and other facilities.

Today, Nigerians are being subjected to paying N150 to N300 per litre for 'subsidised' petrol plus wasting manhour in petrol station simply because of some marketers' greed. It is time to separate the goats from the yam(thanks to our GEJ's Goat and Yam theory). Let us see which marketer will deliberately hoard and sabotage his own business in an environment of stiff competition when there is no hope of 'free' government money.

To members of the two main political camps(APC and PDP) that are always quick at uttering words such as "e be like say them don pay dis barcanista" "shey barcanista don port to APC?", I want to remind you all that Nigeria is not not just about PDP and APC fanaticism. I may have my own financial challenge but I have never benefited a kobo from any politician. My position is necessitated on the need for a progressive opposition and better Nigeria that we all will be proud to live in and call our own. Abeg, nobody pay barcanista shi-shi, and I am not interested in patronising any group for selfish gain




May God Bless Us All and Bless Nigeria

Caspian22:
Love is a beautiful thing and love is also blind too. How does that feeling affect our health?
Does it make you beautiful or blind?
Whether it is love at first sight or at the last attempt, we are greatly affected physically and emotionally by our romantic tendencies. So in this very short post we will be looking at 6 shocking ways being in love affects your health.


1. Reduces stress
When you are in love with someone you are less likely to be stressed out. Your headaches ,migraine and pains ease up faster (that's paracetamol money saved). You body is always more relaxed and happy. Every romantic music you listen to will all sound better, which is very much good for your health.



2. Energetic feeling
Being in love increases metabolism. That means that more ATP is used and energy is equally given off. You are always energetic and restless Also hormones such as dopamine and oxytocin causes you to engage in a pleasurable act with your lover. Love is indeed a beautiful thing.



3. Increases your heart rate
This is a rather obvious fact. Whenever you around that special someone your heart starts beating like masterkraft's beat. This is very good because more blood will be pumped into your brain and other vital organs. You don't need to exercise to get your heart pumping faster, all you need to do is fall in love.


4. Reduces your sleep
Enough of the good effects. Love is also blind too. When you are in love with someone your sleep is reduced significantly. This is because instead if you to sleep you'd be thinking about your lover. This is somewhat bad because you can put on more weight. You could watch more movies during that period ,hoping to re-act them with your imagination.


5. Makes you distracted
Being in love reduces the level of the hormone, serotonin. This hormone makes you more conscious and organized. You will become distracted and make more mistakes over the simplest things. This is another downside of that romantic feeling.


6. Makes you eat often
Due to the high rate if metabolism and also the high amount of energy you use stressing about your lover, you will eat more often. Furthermore in a study that involved students that were in love, they all admitted to eat often because everything tasted sweeter (can you imagine?). So it actually a reasonable fact but be careful not to overeat.

Thanks so much for reading and please comment on what you think and also if you had any experiences based on this.

cc: sizzy3
Dominique
lalasticlala
http://www.youmustgethealthy.com/2015/12/6-surprising-ways-being-in-love-affects.html?m=1

Beremx:
President Buhari's silence on this matter calls for concern or is he not presently in the country?

Goke7:
Agreed PMB collected money but how will that stop dasuki's trial. Dasuki naming Obama or the pope cannot save him, those sympathetic to him should not worsen his case, the charges against him have drown him already.

phyllosilicate:
Buying bullet prove cars for formal Presidents is part of maintaing security. All past presidents must be protected my the State.

RichDad1:
Paying more for what we don't have?
Only in Nigeria.


To all you shouting Fashola dis, Buhari that...,
You all should know that it's the [b]Former Clueless government led by GEJ that signs this slavery pact.
If not for APC, no one knows what would have happen to this country.[/b]

dammywapes:
Try n understand kwara poly s an institution managed by d state government not federal.

EdCure:
I tell ya.

It may be the safest and most peaceful place on earth then.
Correct me if I'm wrong

EdCure:
You sound indifferent. Is it commendable or condemnable?

Intendy:
I can authoritatively say that Buhari will never and never received such camouflage gift.
I KNOW MY ONIONS WHEN I SEE ONE