₦airaland Forum

oyetunder:
We need to be preach UNITY pls. Dividing this country along tribal lines won't solve our problems! I won't be surprise to find tribes within igbo tribe even if they become a Nation on their own! Let there be a Yoruba republic today, and you will know that yorubas are not one! Then you will know that ekitis hate the Ijebus. Hmm, if there is a Biafra republic today, all the Ibo traders shall need visa to enter all Yoruba, middle belt, south south and hausa villages..what happens when they return home to Iboland to trade alone! If all the ibos in lagos should go back to the east today, it shall be a tsunamy!!! Let's build a Great Nation and stop promoting useless solutions.

tonychristopher:
THE ERA ILEKEH AND BAREM WERE VIRGIN...NOW THEY ARE IN MENOPAUSE

Arabambi1:
Morally speaking, I was thinking a successor is in better position to initiate probe on the predecessor. You can hardly hear a new incoming state governor say he/she will probe the past administrations from inception till date, he/she will only concern him/herself with the immediate predecessor (e.g Wike is saying he will probe Amaechi and not starting from Odili). So GEJ should have probed OBJ, OBJ should have probed Abubakar, Abubakar should have probed Shonekan, Shonekan should have probed Abacha, Abacha should have probed babangida. It will be extremely difficult to say Shonekan should have started his probe from Shagari. So if GEJ did not deem it fit to probe OBJ for any reason, he should not advise GMB to extend his probe beyond his administration. Come to think of it, statement like this gives indication that you have already given up because of your atrocities. It's like saying "I know I am going down but I don't want to go down alone". The simple statement I expect from him is something like " Let them probe my administration and see whether they can find something against me" that's a brave man attitude GEJ!

GUNZnROSES:
GEJ will never be forgotten in the annals of Nigerian history. A man who rose to power through dark sentiment using the devious “I had no shoes” and “fresh air” mantra to insult the collective intelligence of the people . The common wealth of the people, the status of Nigeria in the international eye has plummeted to the lowest ebb you can ever think of. The economy has lost its trajectory. The middle class is dead and has been buried while investors and small business owners have all packed up their wares. Corruption is so inundating in this Jonathanian administration that those who fail to adore its toga are slandered and relegated (Sanusi comes to mind) from the political equation. This country has never been doomed to this extent. Critics might attack me for leaning to the extreme on the continuum but I would rather you call me a wimp than lavish in blind optimism.

lastpage:
I've always said the SUBSIDY was a SCAM! Same as the current Electricity Regime

Below was my last post in respect of the matter, (in response to another person that is rooting for the Subsidy "removal":

https://www.nairaland.com/2335043/gtb-close-all-branches-1pm/3#34068636










You cannot remove what was NOT THERE from the beginning!

Its just a SCAM.
Let Jonathan come out "openly" to tell us how much he benefited from this SCAM, as the President who oversaw and super-intended the whle SCAM!


Lastpage!


Lastpage!

You are one of those Nigerians Jonathan will read their post and call them, dumb!!, people like you are the reason our politicians act pretty crazy, because you have no idea what is going on and you feel you can analyse what you don't know, let me give you a shocker!! are you aware that the Cabal is praying everyday for subsidy to be removed?? are you aware that Subsidy is a very big problem for the cabal? simply because Jonathan lied that Cabal sponsored the Ojota rally you believed him?
If you know anything about the downstream sector, you will never take Jonathan seriously.
Did Jonathan not promise you that refineries will solve the subsidy problem, did you believe him? well! the shocker is that in 2012, products from the refineries were equally subsidized so what difference will a new refinery make?
Jonathan and his gang made most of you look stup!!d.

PassingShot:
To start with, GEJ failed woefully in the way and manner he tried to remove the subsidy (if there really was).

You don't wake up one morning to announce such removal and increase in pump price without sensitizing the nation; without discussing with major stakeholders.

And the partial removal that he did, what did we get in returns?

The SURE-P program, as has been revealed just last week that the employee figure was inflated from 12k to 35k, is another evidence of the scam.

The buses that were promised, where are they today? The refineries, where are they?

Bottom line:
1. I believe there was no true subsidy in the first instance. What we had was an imaginary subsidy.

2. If there truly was subsidy, GEJ could have handled the removal in a more responsible manner than just announcing through the radio, on January 1st 2012, that subsidy was removed. No where in the whole world will such action go unchallenged. He needed to have discussed it with major stakeholders the need to remove subsidy. IBB, Abacha and even OBJ removed some subsidy and we witnessed how they handled it.

3. Nigerians, by rejecting the subsidy, were able to reduce/limit their loss had we allowed full subsidy removal.

4. Now that majority of Nigerians believe we have a more trust-worthy president in Buhari, they will accept a subsidy removal (if there was any) provided they know what they'd get in returns in predetermined dates.

most of the things you were told in 2012 were white lies, ironically, some dolts are still recycling those lies till date, nobody ponders why the stories don't add up.
When the fuel subsidy removal was announced, I didn't take it seriously because I knew there was no money to pay the subsidy in the first place, most people couldnt figure it out.

Where did Yaradua pay subsidy from in his last days? ECA, after 2011 elections, Jonathan ate into it so deeply, that aggravated the governors who went to court to get their share.

Recently , Iweala published who got what from the ECA, which is a proof that there was no money to pay subsidy in the first place. where did the Sure-p funds come from? simple, from the federation account.
Next revelation to Nigerians will be that there was no feed stock for the refineries in the first place, reason the refineries are left to rot, but hey!! any one can believe whatever they want to believe.

Jonathan told them that the solution to subsidy removal was setting up refineries, meanwhile, the products from the refineries at the time were subsidized , some bingos actually believed that nonsense!!

Nigerians are exponentially dumb and the politicians know that too well.

chuna1985:
Fuel Subsidy is a disadvantage for a country with a population of 177 million people. Fuel subsidy is good for places like Qatar which has a population of 2 million

sammhi:
that gov does not understand Surep fund...it us a savings fund...that means if you were to spend 10N as subsidy but due to partial removal you only spend 6N , then you have saved 4N. that 4N is the sure p fund.
maybe the cattle rearer thinks Surep fund means anoda Moni from different source..m
gullible Nigerians.. just wat they want to hear

seedsower:
I will be right back certainly not today!

Your response is a course I have to print it out study it properly then get back to you later.

The Federal Government paid the calculated 59 billion naira or thereabouts to the oil importers/ marketers fully and told them 'Now, we don't owe you anymore backlogs.'

The greedy oil marketers came up with a new caveat; ' Mrs Okonjo-Iweala, when we imported the fuel, we imported and borrowed money at the old official rate of N165 to a dollar. But when the naira got devalued, we have a N20 difference to pay up to the banks. We demand that the government pay us the differential to offset our losses. Besides, this is the only time we have to make those demands. Buhari has said he will cancel importation and subsidy and since this means an end to our businesses, we must get the parting gift from the government. We demand for N200 billion naira to offset our bills due to currency devaluation"

Okonjo-Iweala flared up. ' That is blackmail! You all are trying to blackmail the Federal Government and Nigerians. Your demands are preposterous and can never hold water anywhere. I will not sign off any amount other than the N59 billion verified and agreed and which has been paid to all your accounts. You rogues believe you can arm twist the President into acceding to this economic sabotage. You expect me to agree to sign this and then when Buhari enters, they will say I signed off 200 billion during the last days of my tenure. I'm a world bank former MD with the highest principles of accounting standards. What you are asking for is illegal and not even contained in the Federal budget. I will not do it'

The Oil Marketers nodded their heads slowly. ' Ok. We will show you all that we have power. That even the new government coming in has to reckon with us. We will stop supplying fuel till that money is paid'

Okonjo-Iweala told them ' Go do your worst. But read my lips; I won't budge'

And The Cabal went to work. Now, what people don't understand is that The Cabal has very strong tentacles in all sectors and interests in those circles are intertwined. The Oil Marketers stopped lifting fuel immediately. Curiously but efficiently, the Oil Unions, NUPENG and PENGASSAN immediately went on strike on a flimsy excuse. PENGASSAN controls the gas sector and shut down the gas supply to the electricity sector. Power generation dropped and PHCN went off. These saboteurs popped champagne and waited for the nation to be brought to its knees, which happened before long.

And it's a big Shame too for those who call themselves educated in this country. They just sit and write and curse. 'Oh, Jonathan is paying back Nigerians for voting him out' , they write. So, the ones who voted for him, nko? People have no sense or no gift of reasoning at times, I'm sorry to say. These same people in 6 months from now, may be singing a different tune about Buhari not saying he is bad but like I have said, new wine in Old wine glasses

mikolo80:
Your problem is you're thinking this is still military rule where you can do and undo. No it is nairaland not IPhillipsland so you need to man up and wade through the muck to get to the substance. This is a democracy not a meritocracy so you have to take the good with the bad. Everything in nigeria has k leg cos the foundation na k foundation.

When in yankee you play by western rules
when in naija you play by k legged rules

PhockPhockMan:
You don't get it.
If you have been there, you won't say this.

seedsower:
Yea, correct. 2.

But do you not know that when we finally arrived at full deregulation even me will also be in that business. It will no longer be business as usual, monopoly will be gone for life.

bb. I meant to "without" bias.

The downstream sector does not operate that way, Like you inferred, there will be competition but it is not the way Nigerians expect, look at Diesel for example, it is deregulated but why is competition not driving down the price? Even when it is obvious the demand for AGO is pretty low, so how did a deregulated commodity in the Nigerian open market defy the laws of Economics? UNIONISM.

Like you implied above, anybody can import in a deregulated market fuelling competition, it is not exactly true, there are safety regulations that must be met before you are granted such licence, else Nigeria will be on fire in a matter of days, issue of storage, distribution capacity, inspection and integrity assessment are all considered, not forgetting "political patronage", in the end, only a few will meet the criteria, so its not gonna be an "all come oh! ye faithful" exercise.

As soon as they get their licence, they will join a union, Union will commence price fixing and that is where Nigerians will suffer. Now look at what Capital oil did recently, because he is a personal friend to Mr president who contributed immensely to his business success (TAN & AMCON scandal comes to mind), he decided to defy the union to salvage the image of the president, what most of you don't know is that Union has already decided to call off the strike this week ( I heard it on Thursday last week), so, it is inconsequential to the interest of the union.

The right question to ask is; why did he not release that product last week? what is the reach of Capital oil in Nigeria? he may cover Lagos or some part of Anambra at best, what happens to all the other states? that is where the Union is very powerful.

Another factor you need to consider is the international market, the price of crude fluctuates, when it appreciates, no amount of competition will annul that effect viz the price of its end product.

Import tax is another area you need to consider, well, you may assume it is an essential commodity hence should get a tax rebate, the sad truth is; once new importers join the queue (of course you want to drive competition), it will mount serious pressure on FOREX, the Govt will have no choice than to tax the products to recover. This import tax will sum up to the cost of the product for the end user.

Finally, the strength of the naira, the Naira has been on a free fall for a while and it is going to impact heavily on the cost of the products ( I guess you are aware that Forex differential is part of our subsidy regimen), a sum of all these challenges will annul the possible effect of any competition.

So when some ignorant minds compare the downstream sector with Telecommunications, I just Laugh!!

Subsidy is the only govt control in the downstream sector and it is good for us, the problem I have with most Nigerians is that they don't really know how to define their interest, the Govt should worry about the subsidy not us.

If the union decide to sell at 100 naira for example, the major importers who are subsidy beneficiaries will sell at the government rate (I am not saying they are not union members though, just obliged) the union will not sell, it wont be long before they return to status quo, that is why they capitalize on frivolities to create artificial scarcity to make more money because subsidy is a big bone in their throat. They pray daily for the government to make the mistake of subsidy removal unlike what Jonathan told you in 2012 when he referred to them as "Cabals", no doubt, they are "cabals" but jonathan lied about their interest.The cabal want the subsidy out more than Nigerians want it out.

look at this recent strike, NPDC whose stake was illegally transferred has both NUPENG and PENGASSEN as members, while NUPENG (the junior staff union) went on strike, PENGASSEN (the senior staff union) in other companies was at work

Shell, Exxon, Total Nupeng members were all at work, while tanker drivers members went to strike on their behalf
That is an example of how senseless their strike can be sometimes.

It doesn't negate the fact that they have legitimate concerns sometimes, eg when the FG gave them import mandate and devalued the naira overnight without notice, bank interest rate on the product will increase and cost of purchase increased as well, who pays for the deficit? the FG is a chronic debtor when it comes to subsidy, some importers have backlogs to 2014, Iweala just pays in bits and pieces, till they strike before they will get at least half.

Nobody cares about Aquilla (transport subsidy) these days, the cabal will rather rent their trucks to other members who are not registered and collect their cash than waiting forever for the government to pay, that is the sad truth, Cabal hate subsidy, jonathan Lied big time.

For those of you who root for subsidy removal, you have no idea what these cabals are capable of!!, funny enough I am for subsidy removal but definitely not the 2012 madness

seedsower:
The sooner we begin to approach our economic challenges with an open mind of objectivity the better for is.

Sir please, can you with bias give me at least one reason why they will want subsidy removed.

Thank you

PhockPhockMan:
You don't get it. If you have been there, you won't say this.

seedsower:
Thank you Sir. Ifeanyi Uba(Capital Oil) for releasing 13milion litres of fuel yesterday, that forced Wale Tinubu (oando oil) and Femi Otedola(Forte/AP oil) to follow suit today. These cabals should please change.

I still remember Femi Otedola unpaid multiple bank loans
And also still remember his bribe scandal with SENATOR FAROUK LAWAN.

These are the cabals we are talking about, they are the same people working hard to see that subsidy remains.

In his words(Sir Ifeanyi Uba, "I will not be part of this sabotage against our Nigerian or fold my hands while Nigerians suffer because few people want high profits" (Fuel sales currently for N85 Per Litre In All Capital oil petrol station across Nigeria)

(L-R) Wale Tinubu, President Elect Buhari and Otedola

chronique:
There goes another ignorant Nigerian who doesn't know,but behaves like He knows. I would have expected that you'd take yyour time to do just a lil research before blurting out to counter me with your uninformed opinion. Majority of you guys here,suffer from the same problem(laziness to find out proper info before talking). Anyways,I'd give you a link from the DMO so you don't have to query my analysis again. It's a shame that you're trying to talk like you know,but do not even realize that Nigeria started having foreign debts even before independence. You still have a lot to read and know about your country cos you presently don't have enough info to make an arguement with me.

Origin of Nigeria's debt according to the DMO.
http://www.dmo.gov.ng/ardrnigeriaexternalanddomesticdebt.php

Finally,stop spreading that ignorant view of yours that GEJ accumulated over 60bn dollars debt in 4 years;it is wrong. Thank you.

peedeeasobie:
What is it about being objective that repels you? Caution and shape the reckless behavior of which states? Lagos? The mismanagement is both a problem of the FG and Lagos state and others.

Osibanjo told halftruth. If he says FG, the average will only think GeJ and his cabinet, meanwhile the chunk of the debts were accumulated by APC controlled states.

Try objectivity sometimes, it helps!

chronique:
Someone talked about Nigerian youths being intellectually lazy and as soon as I read that post,my mind flashed to your moniker cos you're one of such youths always eager to type and comment,without thinking or taking time to find out accurate information,before you talk. Obj got a debt relief for Nigeria,but didn't clear Nigeria's debt. He left an external debt of $3bn and about $13bn worth of internal debt. These are facts in the public domain which you have failed to access due to your intellectual laziness. What irritates me more is that,people who do not have a mind of their own and who are equally intellectually lazy like you,would swallow this your opinion hook,line and sinker,and spread it round to other folks in the same category. Let me ask you one quick question: how were you expecting Obj to clear all Nigeria's internal debts(including those incurred by the state governments)? Is the federal govt responsible for bonds taken by state governments? Is there any nation in this world that doesn't have debts? Are you aware that part of the monetary policies which government uses in reducing money supply in the economy to control inflation,requires them selling treasury bills and bonds? Are you aware that these bonds raised,form part of the internal debts? I followed GEJ's economic team's policies throughout his govt and I realized they were constantlyy working on reduction of inflation rate and trying to stabilize the rate of inflation. This is why banks were asked to increase their reserve levels with the CBN,and bank rates for borrowing from the CBN were also increased and invariably passed down to the consumers. The objective of these,was to reduce the money supply in the market as banks would have lesser cash to borrow out,and consumers would be discouraged from borrowing money,due to higher interest rates for borrowing. Bonds were also placed in the market and investors were given higher returns for buying govt bonds. This simply meant those who had money to spend,witheld their funds and money kept moving from banks,companies and investors purse,into govt purse.

porka:
[size=16pt] Is Osinbajo inheriting Lagos State debt too?[/size]

utytill:
Debt from 1960s,then buhari's military dictatorship regime debt is inclusive.oh what a karma.but obj told us that he pay all the debt?or was it that of paris club?.

mikolo80:
Its called freedom of speech.

basilo101:
Nonesense. Power has been privatised. Any region dat cnt manage dia own will hav demselves 2 blame

Unabefool:
Scarcity of Petroleum Products: Etisalat Announces Possible Outages To Network Operations


Etisalat Nigeria today announced possible disruptions to its operations and services as a result of the current nationwide scarcity of petroleum products. Management stated that the company is working assiduously to minimise the impact given the circumstances.
The scarcity of petroleum products has impacted every sector of the economy and the provision of telecommunications services is no exception. We are however working with partners and doing all that is possible to continue to deliver quality services in spite of the challenge. Such a prolonged situation threatens our ability to re-fuel all our sites and thus negatively impacting service.
Etisalat reiterates its commitment to delivering quality services and asks for understanding from all customers who might be impacted during this period.
Management.

www.facebook.com/notes/etisalat-nigeria/scarcity-of-petroleum-products-etisalat-announces-possible-outages-to-network-op/840480595987125/?refid=17

abbey621:
No you are getting it all wrong, true solar energy does not need any other charging source than the sun. We have plenty of sunshine in Nigeria, all it takes is a very powerful capacitor and inverter and a couple of solar panels. The Chinese have perfected this technology and it is slowly being rolled out in advanced countries.

abbey621:
When will all these useless businesses start investing in solar energy? A country like Nigeria heavily dependent on Oil will continue to face uncertainty at times, businesses must be equipped with an alternate source of electricity!