₦airaland Forum

dominique:
North central of all places where food is very cheap. This is bad!

theoldpretender:
1.Tam David West was joking...and he knew it. Anyone who knows what was going on could see that (and his comment began my processof not taking APC serious)....Fuel at N45 was impossile, with cost of importing the fuel above N100 at that time, plus even when all our refineries workperfectly...we need more of them...see no2.

2.A new refinery costs $9billion(that is 3,275,999,698,608.03 naira. We need four of them. Our reserves are at $41bn. (And I doubt we can use the reserves...which leaves the budget.).

3.Only way we can build refineries is by attracting investment into our petrol sector...and removing subsidy is a start.(Dangote.? Dangote is not going to sell PMS from his refinery at N145 PER LITER).

4.Always take political promises with a pinch of salt. (It keeps one calm and less cynical). Atiku says he would sell fuel at N90 per liter. Landing cost is N180 . Where is he going to find the money ? Scarcity part 2loading.

The truth is noone...APC,PDP,orNigerians want to remove subsidy. Many people are benefiting from the corrupt subsidy deals...and Nigerians benefit fromthe illusion of 'lowoilprice'. And our petrol sector is cash strapped.

theoldpretender:
Now,I don't like APC,or Bubu...or PDP...But...

1.Bubu was refering to the practice of people claiming subsidy money for what they did not import .(Remember the brief trial of Otedola.).

2.The amout being paid is the left over subsidy claims from the last administration (If you think I am blaming GEJ...please wait and read no 3)

3.GEJ tried to remove subsidy in 2012...partially...because his financial advisers were telling himthat paying for subsidy was no longer sustainable. PMS went up from N65 to N140..Nigerians protested...and price fell to N97.

4.We import most of the fuel we use...because we cannot produce enough for our needs (And why have we no new refienreis...because no investor wants to come and build a refinery if it means selling fuel produced at a subsidsed rate).

5.Because of govt keeping that unsustainable subsidy regimen...which became unsustainble especially as the landing price edged over N120 perliter in 2014...and we were selling fuel at N97 and then N87...a debt of N840BN was accumulated.

6.That is the debt that we are still paying off.

7.Buhari is stuck paying subsidy because if he closed down the scam...fuel would shoot up to N200 and above. (landing cost is now N180 perliter. It was N132 when Bubu increased fuel from N87 to N145....under pressure...because he wanted to keepit at N87...but it was unsustainable,and his financial advisers knew it)....problem is,the scam is now centered around NNPC...which importsfuel at N180...subsidises it down to N145...and sells it to marketers at that price...forcing them to sell it at that price.(and the money to keep the price down is obtained via some dubious accounting).

djon78:
Is Redeemed Christian Church of God owned by anyone

olotuo:
what you wrote is lies

CilicMarin:
Even if it would take 1Month, it will still be one Outcome.

The man of integrity will be returned emphatically...

blacknp:
Too many people that lack intellectuality on Nairaland,kids everywhere.