₦airaland Forum

DickDastardly:
A proactive goat. The goat that saw through the lies of change and took the bull by the horn. If only we were half as wise Now see what we have brought upon ourselves.
The funniest part is that some idiots think their votes will count in against the dulllard come 2019. No way, had it all figured out already by his choice of INEC head, DSS head etc. Only divine intervention will save Nigeria from this gradual descent into nothingness.
*wailing uncontrollably*

maupe:
All this manufactured evidence will not help this administration, to achieve the required results, it needs to receive the mandate for an encore. At the courts , this evidence will be torn to shreds, and Dasuki, will breathe the air of freedom, but the President might not get a 2nd term. So who is the loser.

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

micayo:
When will you become realistic and stop crediting OBJ with the internet or phones? The phones and internet would have gotten to Nigeria notwithstanding. OBJ's trip overseas was to seek what gangan?

biafranqueen:
OBJ or NOI masterminded that debt relief ? Abeg, I challenge you to start a thread and we will put that Paris loan pay back against the World Bank Loan that he used to start his farm. Make sure you mention me, so we can discuss this intellectually, because I have pages of OBJs atrocities ready for posting.

micayo:
They existed before OBJ but were expensive just like everywhere else in the world. When the cheap ones were made for the common men it became viral like toyota. So pls stop crediting the works of other people to someone who didn't partake in the transformation rather give kudos to the japanese makers, chinese makers, et.al.

We could have secures the debt relief without him jetting out of the country. True or False?

elmisti:
I swear, d tin dey do me like say make I knack u slap.....I am not condemning buh biko Nigeria is a lost course in the international community, No one will help us, there is nothing to gain from helping us...He should bring his ass home and work out local policies that can turn tinz arnd...all d countries he is going to estblish relatnshp wit av dier own issues too...Make I hear say France help am, even UK no get our tym, abi na US wey dey sort issues out or the middle east pple?.....let him come nd work LOCAL SOLUTIONS and CHANGE.....

Zetra:
I wouldn't even blame the present Government if people say they didn't provide jobs for the youth in the North, because if you calculate from Military till democracy you will find out that the North have far far larger benefits in term of politicians that have ruled nigeria...

So ask what have their past leaders/governors/military Heads being doing in terms of improving the lives of people in the North?

cbjonstage:
Y r Fr.M views on srious matas seems 2 b variant

400billionman:
You sound very shallow.

How many Chinese or Asian investors has Buhari brought back from his foreign trips ?

Only the Cross River state government has attracted any form of foreign investment since 29th May.

Tell us the benefits or keep shut.

400billionman:
Ngozi Okonjo Iweala was instrumental to the cancellation of Nigeria's debt.

TruthisGOD:
My friend park well! That was purely the handiwork of the then finance minister that got the debt cancelled.

IbokUtoroh:
was the fones and sims and internet free when it arrived?

obailala:
The amenities you listed are not free in any part of the world. But then, even with all your money in your wallet, you wouldn't have been able to get them still if they didnt exist in your environment; if you had N1m in your pocket, you wouldnt be able to still purchase mobile internet if it didnt exist in Nigeria (as was the case just some years ago).

DickDastardly:
Father mbaka said Jonathan is the problem

cbjonstage:
Fr. Mbaka has no iota of truth on political problms surrounding northerners. if truly dis is coming from Kukah, i believe him

princebaby:
that man is igbos anti christ

Farnsworth:
How is Fuel scarcity not relevant to the argument, when you have clearly insinuated that I am a Jonathan supporter because I dispute the idea that money has been returned to Nigeria, if the central bank is not aware of it. Fuel subsidy was a keenly disputed policy by Buhari during his campaign. Fuel scarcity is due to subsidy, an idea which Buhari has claimed in the past is a lie, this is obviously dishonest for a leader.
Buhari's government lacks transparency, something on the same scale as the OBJ presidency, he has invaded Akwa Ibom govt. declared to have found Guns and dollars in luggage bags, but then nothing, disobeyed judicially and display immense ignorance on power afforded to him by constitution, callous towards nigerians and failed to show any leadership in terms of policy direction. I don't care about politicians, I care about Nigerians and the future the young population we have because obviously this old dimwits are the architects of the failure Nigeria is today and Buhari is showing signs of making it, even worst for future Nigerians.

loomer:
Internet wey u dey use is not free bros, u pay madly to use it. Phones ain't free too.

Or u no dey pay tax?
When I asked about impacts I mean what amenities are u enjoying for free.
Electricity no be 20hrs daily.
Roads no dey.
Armed robbery sky rocket.
No standard public schools
Water we buy.
Jobs no dey.
Hospitals na mess.

loomer:
Like I said, what direct impact did it make on u?

For me no government don directly impact my life.

loomer:
Just like the trips obasanjo been dey embark during him own tenure, wetin be the thing wey u gain directly from those trips as a citizen?

NgeneUkwenu:
By Tomorrow, When the Gains of the so called "junketeerinG" starts trickling in, and it is reported by the Same Sahara Reporters, the Wailers will call it propaganda Newspaper!

It is really bad to be a Wailer

udemzy101:
Lol... Still blaming the past administration, you're saying the complain are coming for jonathians cos the buharis are a shame for saying the truth.. Hmmm.


Fine, I know the problem didn't start today, but APC made us to understand that if they are voted in all our problems will be over in a twinkle of an eye, insurgency will be over within 2months yet we keep hearing of killing and bombing everyday, no plan for job creation, electricity have reduce thanks to the dry season, I guess the damp have dried up... He keep shouting corruption yet no one have gone to jail... Many things have happened within 6months and all you could do is keep putting the blame on past administration?

Continue sir, and before you know it 2019 will be here...

chuna1985:
The new government said that they are Jesus Christ n that they will perform miracles.

Farnsworth:
who cares about Jonathan... poor Nigerians are sleeping at filling station, you are taking about a former president that probably has enough contacts to delivery fuel to him on the moon.

Buhari is bloody failure!

udemzy101:
Nothing could be worst? The present administration is not up to a year and people are always screaming... I hope things change soon cos they promise us change..

udemzy101:
Continue writing the epistle of GEJ administration, soon you will switch to your daura dull.ard...

Lubbish

benedictnsi:
Nigerian leaders sha..... They are deliberately spoiling the country but still pretending they are oblivious of their actions....


How many Employment opportunities did he create during his regime

AtlanticBreeze:
you are a zombie.. How many times has obama travelled in the last six months? Junketing from one country to the other, how will it help nigeria's failing economy, boko haram or fuel scarcity.. You are the reason for the illiteracy figures in Nigeria

GudluckIBB:
Otapiapia will soon start selling fast becos a lot of wailers will be needing it soon!