₦airaland Forum

sholatech:
This is a completely wrong analogy.

Crude Oil is completely different from Solid Minerals in Nigeria.

Aside Iron ore mining you mentioned, all the other minerals have long been abandoned by the Federal Government.

The Nigerian mineral sector is completely dominated by the private sector, albeit informal and artisanal products and 99% of their output are exported.
These minerals from Nigeria are used mostly by Industries in Asia and Europe.
Not like your Crude oil that is JV operations btw FG and the multinationals. The FG only gives you license for exploring or mining and leaves you alone to undertake the huge risk in the business and everything you mine is yours to export, and you can see that the non-oil exports even contribute less than 3% to our GDP because FG has little impetus for the sector.

Crude oil products are consumption goods, but our mineral products are Production goods.
All the mining sites you mentioned are completely private sector discovered and managed.
if FG decides to subsidize those goods, it will be a laughing stock because everyone will start looking for where the subsidy is, because the owner/operator of those mines ships ALL his products to the end users ABROAD!
We can talk so much on this long abandoned sector, but we will not deviate from the heat of the moment that Govt has not done much to warrant the removal of fuel subsidy at this time. There is no electricity nationwide and hence our small businesses and households rely on the use of petrol daily to run their generators and generate their own electricity. If the price doubles or triples, the multipier effect on the cost of living in Nigeria will astronomically increase. Please abandon those western macroeconomic policies and get lectured on Nigeria-Specific Behavioral Economics.
Imagine if we all have electricity in our homes 24/7 as we had long been promised on those power supply projects and we are witnessing huge road expansion and repair projects nationwide and then our dear GEJ now asks for understanding on removing fuel subsidy, how many people will you see on the streets?
The AGF mentioned how much Nigerians launder every year which far exceeds how much is used on subsidy yearly. Can't that be plugged? If it can't be plugged, then even the removal of fuel subsidies will only creare more money for contracts to be taken by our Politician Contractors giving them more money to launder abroad since our leaders are refusing to plug that hole!

nku5:
@Beaf - you be young man o. Dont get caught up in the web that these old demons have been spinning for us and their children (not our own).

dustydee:
Does the price of stone or wood affect the cost of food in the market?

nku5:
Is this supposed to be a joke?

Does my car run on gold, does my generator run on gold, does the price of gold affect the cost of food and virtually eveything else. Abeg lets get serious enough of the clowning

dustydee:
Yes. As soon as every Nigerians start using Gold on a daily basis and as soon as it starts affecting the cost of food and transportation in Nigeria.

Aigbofa:
Do you need gold to get from point A to B? Wrong analogy! Besides, the imported refined oil does not belong to Niger delta.

Ozin:
I suspect this all along!

[size=14pt]6 oil marketers in trouble for funding fuel riots[/size]
• May be arrested soon
, CBN, EFCC on the alert over panic withdrawal
From Our reporter
Thursday, January 05, 2012

More Stories on This Section
The near-instant mobilization of protesters to demonstrate against the federal government’s New Year Day removal of subsidy on petrol has caught the attention of the nation’s security operatives as they seek to get to the bottom of the sudden explosion of violence across the country.

The security operatives are suspecting a fifth columnist may have got into the mix and taken advantage of the situation. They are, therefore, trailing the movement of funds to some organizers of the rallies, even as organized labour gets set for mass action from Monday. Daily Sun gathered yesterday that security operatives may have started probing six marketers for allegedly bankrolling the proposed nationwide protest.

Nothing less than N1 billion is believed to have already been doled out by the marketers to some protest organisers. To further underscore government’s seriousness on the matter, it was also authoritatively gathered that the marketers, many of whom figured in the controversial Senate subsidy cabal list, may be arrested for questioning any moment from now.

Consequent upon these findings, the Central Bank of Nigeria (CBN) as well as the Economic and Financial Crimes Commission (EFCC) have been placed on the alert to check curious withdrawals by some marketers to fund any nationwide protest. Investigation showed that the apex bank and the EFCC are monitoring commercial banks on curious withdrawals. However, a Deputy Governor with CBN who spoke on condition of annonimity said “if anybody is concocting huge withdrawals to finance a national strike, it will fail”. He further added: “I think we should all rally round the government to allow this deregulation to succeed. There will be initial pains but Nigerians will enjoy the benefits.”

According to findings by security agencies, the concerned marketers were alleged to be working in concert with some trade union leaders to make the country ungovernable. It was gathered that the security reports had indicted the affected marketers of budgeting over N1billion to frustrate the withdrawal of fuel subsidy. It was also learnt that the security agencies uncovered a secret meeting between the marketers and some Senators and members of the House of Representatives on how to compromise the National Assembly to reject the withdrawal of fuel subsidy by the Federal Government.

“We are probing some marketers for taking undue advantage of issues raised by Labour to cause mayhem nationwide… Security agencies have identified six of the marketers, who are the arrowheads of this covert plot to bring down the government.” A reliable source told a select group yesterday. According to the source, “the marketers have voted over N1billion to hijack the labour strike to make the nation ungovernable and some marketers will soon be invited for questioning. And whoever is involved might be tried accordingly.

“These marketers are unhappy because the removal of subsidy will put an end to cooking of records to get refund from government and diversion of subsidized imported to neighbouring African countries where they make triple profit.
“They are also angry that it will no longer be business as usual. They are some of the beneficiaries of fuel subsidy.
“Unfortunately, they have made labour leaders to believe that they are backing Nigerian workers for a just cause.”

[size=14pt]6 oil marketers in trouble for funding fuel riots[/size]
• May be arrested soon
, CBN, EFCC on the alert over panic withdrawal
From Our reporter
Thursday, January 05, 2012

More Stories on This Section
The near-instant mobilization of protesters to demonstrate against the federal government’s New Year Day removal of subsidy on petrol has caught the attention of the nation’s security operatives as they seek to get to the bottom of the sudden explosion of violence across the country.

The security operatives are suspecting a fifth columnist may have got into the mix and taken advantage of the situation. They are, therefore, trailing the movement of funds to some organizers of the rallies, even as organized labour gets set for mass action from Monday. Daily Sun gathered yesterday that security operatives may have started probing six marketers for allegedly bankrolling the proposed nationwide protest.

Nothing less than N1 billion is believed to have already been doled out by the marketers to some protest organisers. To further underscore government’s seriousness on the matter, it was also authoritatively gathered that the marketers, many of whom figured in the controversial Senate subsidy cabal list, may be arrested for questioning any moment from now.

Consequent upon these findings, the Central Bank of Nigeria (CBN) as well as the Economic and Financial Crimes Commission (EFCC) have been placed on the alert to check curious withdrawals by some marketers to fund any nationwide protest. Investigation showed that the apex bank and the EFCC are monitoring commercial banks on curious withdrawals. However, a Deputy Governor with CBN who spoke on condition of annonimity said “if anybody is concocting huge withdrawals to finance a national strike, it will fail”. He further added: “I think we should all rally round the government to allow this deregulation to succeed. There will be initial pains but Nigerians will enjoy the benefits.”

According to findings by security agencies, the concerned marketers were alleged to be working in concert with some trade union leaders to make the country ungovernable. It was gathered that the security reports had indicted the affected marketers of budgeting over N1billion to frustrate the withdrawal of fuel subsidy. It was also learnt that the security agencies uncovered a secret meeting between the marketers and some Senators and members of the House of Representatives on how to compromise the National Assembly to reject the withdrawal of fuel subsidy by the Federal Government.

“We are probing some marketers for taking undue advantage of issues raised by Labour to cause mayhem nationwide… Security agencies have identified six of the marketers, who are the arrowheads of this covert plot to bring down the government.” A reliable source told a select group yesterday. According to the source, “the marketers have voted over N1billion to hijack the labour strike to make the nation ungovernable and some marketers will soon be invited for questioning. And whoever is involved might be tried accordingly.

“These marketers are unhappy because the removal of subsidy will put an end to cooking of records to get refund from government and diversion of subsidized imported to neighbouring African countries where they make triple profit.
“They are also angry that it will no longer be business as usual. They are some of the beneficiaries of fuel subsidy.
“Unfortunately, they have made labour leaders to believe that they are backing Nigerian workers for a just cause.”

lastpage:
Dont worry urself, in this age of "technology", there are ways of unmasking any masquerade!

Mostly those ways are NOT legal sha, and needs to be done stealthily

Lastpage

2mch:
I thought SS and SE got this? Maybe SE and one state in SS. That is why history always remembers the SE. Your opinion is not the majority, so i am not going to go where you want to go. I have seen a lot of Igbo's step out and protest against the fuel subsidy. I watached on Channels TV a very brilliant lawyer of Igbo origin give a very good analysis of the situation so Mr. man you are on your own. You and Beaf are the only ones jumping up and down, where the SE is divided on the issue. Know this, no Yoruba will fall for your trap. Everyone should ignore this thread and focus on showing this government that we own Nigeria.

Nchara:
Beaf I actually wish you were Reno. Let your enemies hug a fat wet transformer. Even their parents will not miss them.

Beaf: By the way, I am not against proper subsidies. Subsidies are a brilliant thing if they are used to kickstart productivity in an economy; I will back subsidies on agriculture, Research and Development, education, health, manufacturing, local content etc.

ARP tasks N-Assembly

African Renaissance Party, ARP, yesterday, urged the National Assembly to reconvene as a matter of national urgency, to help tackle the Boko Haram threats.

Mr Udoka Udeogaranya, Lagos State chairman of ARP in a statement, said there was need for the lawmakers to enact a law that would punish perpetrators and ensure that everyone joins hands to end the menace.

The party said: “It is our opinion that the ultimatum by the sect, amid a rising tide of violence, gives a profound recognition that punitive measures are needed.

jmaine:
They call for salary and allowance cuts is staring them at the face . . .they would tread with caution . . . . .The subsidy removal gameplay should see both the Legislative and the executive antagonize each other in their excessive budgeting . . .

The gameplay should be to protest wastage in all cadres of government in Nigeria . .

blacksta:
Beaf what is your thought on the 1600 buses. Is that not subsidy?

[size=14pt]Reps make U-turn on subsidy removal[/size]
January 4, 2012 by John Ameh, Abuja

Three days after the Federal Government removed the subsidy on petrol, the House of Representatives adjusted its stance on the issue, claiming it had not taken a definite position on the issue.

In a fresh statement it issued in Abuja on Tuesday, the House said its position on the controversial policy would be guided by the majority opinions of members.

Members are currently observing the Christmas and New Year break and will reconvene on Tuesday, January 10.

The Deputy Chairman of the House Committee on Media and Public Affairs, Mr. Victor Ogene, signed Tuesday’s statement.

It read in part, “The House of Representatives has not taken any definite decision on the subsidy matter before it proceeded on recess on December 20, 2011.

“However, the House of Representatives would immediately upon resumption on Tuesday, January 10, 2012, commence exhaustive deliberation and consultation with other stakeholders on the issue, and wishes to assure all Nigerians that as the elected representatives of the people, the outcome will be reflective of the views of majority of members.”

The latest statement was contrary to the earlier position the House took on December 1 when it considered and approved a report on the medium Term Expenditure Framework and Fiscal Strategy Paper on the 2012 budget.

The report, a product of the House Joint Committee on Appropriation, Finance and Legislative Budget, opposed the removal of subsidy on petroleum products.

Members in plenary, endorsed the report, describing any move by the Executive to remove subsidy as “premature.”

The House also kicked against the proposal of the President to use proceeds from subsidy removal to fund the deficit in the 2012 budget.

Part of the report adopted on December 1, reads, “The proposal on fuel subsidy removal, as contained in the revised Fiscal Strategy Paper, is premature.

“Sources other than relying on savings from proposed subsidy removal as part of financing items for expected deficit (of 2012 budget) should be explored.”

Besides, the Chairman of the Committee on Media and Public Affairs, Mr. Zakari Mohammed, had consistently told Nigerians that the House was against the removal of subsidy on fuel.

Only last week, Mohammed had insisted that there was no going back on the opposition to the removal of subsidy.

“We are the representatives of the people; on this issue of subsidy. We are on the same page with the people of Nigeria,” he had said.

“If they support the removal of subsidy, we will support it, but so far, the opinion of the people is that they do not want subsidy to be removed.

“The House does not take a position that will add to the pains Nigerians are already facing,” he had said.

But, on Tuesday, his deputy, Ogene, said that the House had not taken a decision on subsidy.

Mohammed is currently out of the country.

Only on Monday, opposition lawmakers had vowed to do everything within their powers to stop Jonathan.

The Deputy Minority Leader, Suleiman Kawu, had called the removal of subsidy another form of terrorism against Nigerians.

He threatened that the House would use “the law” to stop Jonathan but did not give details.