₦airaland Forum

Vikkie14:
In summary: The Reduction in Subsidy payment is due to the Fall in Oil Price. Anything apart from this is Falsehood and lie

between June and september, oil prices fell from $65 to $48 but subsidy bill dropped from N2billion daily to N575million daily.

I am sure you are a smart person and should be able to do the simple mathematics. Between June and October, World Oil prices fell by 26% but Nigerias subsidy bill dropped by 71%. Once again, I'm sure you are a smart person to know what that means.

GudluckIBB:
From a high of N51.61 per litre on June 11, 2015, subsidy on every litre of Premium Motor Spirit consumed in the country has dropped to N14.39, data obtained from the Petroleum Products Pricing Regulatory Agency on Sunday showed.

The dip in the subsidy payable by the Federal Government is partly due to the sustained decline in global crude oil prices, which have continued to trade below the $50 per barrel mark in recent weeks.

The global benchmark Brent crude, which fell below $50 per barrel in January, rebounded to $65 in June, pushing up the subsidy on petrol. However, Brent traded around $48 per barrel on Sunday.

Subsidy refers to the money paid, usually by the government, to keep prices below what they will otherwise be in a free market system.

The PPPRA, in its latest pricing template released on Friday, October 2, 2015, stated that the landing cost and Expected Open Market Price (total cost) of petrol were N85.90 and N101.39 per litre, respectively.

This is against a regulated retail price of N87 per litre. The difference between the EOMP and the retail price is, therefore, N14.39.

According to the Nigerian National Petroleum Corporation, the country consumes about 40 million litres of petrol daily.

By multiplying the volume of petrol consumed across the country on a daily basis with the current amount spent on subsidising the product, it means that the government spends about N575.6m on subsidy, down from N2.06bn in June 11.

Nigeria, Africa’s top oil producer, relies on importation for most of its fuel needs as the country’s refineries are in a poor state.

The landing cost is the cost of the product plus freight rate at N75.03; trader’s margin, N1.47; lightering expenses, N4.19; Nigerian Ports Authority fees, N0.77; financing cost, N1.68; jetty depot throughput charge, N0.8; and storage charge, N3.

The addition of the distribution margins to the landing cost gives the EOMP (total cost). The distribution margins comprise retailers, transporters and dealers’ profits as well as bridging fund, marine transport average and admin charges.

Retailers get N4.6; transporters, N2.99; dealers, N1.75; bridging cost is N5.85; marine transport average, N0.15; and the admin charge, N0.15. The sub-total margin stands at N15.49.

When added to the landing cost of N85.90, the EOMP of N101.39 per litre is arrived at.

The Federal Government had on January 18, 2015 announced the reduction in the pump price of petrol from N97 to N87 per litre, attributing this to the decline in global crude oil prices.

http://www.punchng.com/business/business-economy/subsidy-on-petrol-falls-to-n576m-daily/

Between June and October, world oil prices fell from $65 to $48/barrel, but Nigeria's subsidy bill dropped from N2billion to N575million daily within this period, i.e. World Oil prices fell by 26% but Nigeria's subsidy bill dropped by 71%.

Now I think that is a major drop in the subsidy bill and no doubt, this is only due to a more prudent and responsible administration being in place.

A little mathematics, at N575 million daily, that would equate to about N210billion annually. Not too long ago in 2011, Nigeria paid N2.13Trillion for the same subsidy and after all the protests and exposes, Nigeria paid approximately N1trillion per annum for the subsequent years.

...and with some of these things, some would still beat their chests and ask what the CHANGE is. May God forgive us!

EgusiSoup:
Good day all,

Sequel to the recent political witch hunt that have trailed our ex-minister of Petroleum in the guise of corruption investigations, I would like to categorically postulate that those bent on bringing this lovely, beautiful, and kind woman to her knees will never succeed.

Here is a woman who has been recognized all over the world as a game changer in the oil and gas sector, a woman the world appointed to be the OPEC chairman inspite of numerous challenges and hurdles limiting women in terms of gender discrimination, a woman of class, respect and dexterity.

If my hero, Deziani Alison-Madueke is corrupt as these Northern cabals say, why has OPEC not relieved her of her appointment?? Where is the evidence that she is what they say she is? They may try to paint her as a devil but the only statement I have in her defence is that "he who is without sin should cast the first stone"

I have decided to go on a one month dry fasting on her behalf and I plead with all well meaning nairalanders to join me in this fast as we intercede for this living legend.

Please join me.



#EgusiSoup

cc
Boiledcorn
Friedplantain
Lalasticlala
Bitterleafsoup
Redoil
Beremx
Obiagelli
GoatandYamTheory
Stupidity
Cleverly
Cramjones

A sensible person would wait for investigations to be completed before all these silly intercessions. That you are defending the woman, did she tell you she cannot defend herself?... Who send you this message?...

Truckpusher:
Just listen to yourself , in a 21st century economy where nations are using their strategic resources, bilateral trade agreement and geographical importance to acquire physical technology and exchange of vital information you're happy that our Government with her both human and capital resources is still accepting aids from the West that raped West African countries in the first place over decades.

It is shame Berem for any Nigerian govt to accept food and monetary aid from the West.
From today hence forth I command the spirit of begging to flee fom your life.
Jesus ! I thought Jonathan once told these guys that we do not need their aids in a United nations general assembly where he specifically told world leaders using a Chinese proverb that they should ''teach a man how to fish and not give him free fish all the time'' and he highlighted his comments by saying that the transfer of technological help and information based on mutual respect is the only way African countries can stand up on its own and not accepting aids.This was equally highlighted when he visited China to secure a 3 billion dollar infrastructural loan that would be purely based on building infrastructure and training Nigerians to run it efficiently after some years.

It is shame Berem

Nigeria no doubt is a great rich nation, but corruption and mismanagement for decades has rendered us destitute. Now is not the time to beat our chests and affirm our 'independence.' We need any kind of help we can get and we need to humble ourselves to receive any help.

You might be comfortable, hence your statements. But unlike you, there are millions of your fellow Nigerians out there who have no food to eat this morning, and who are not assured of any proper meal for the rest of today. Quit speaking for these ones and be considerate for the plight of others.

All I can say is that, unlike in past regimes, I have a little more extra confidence in our present leadership that these moneys would be used properly and would not end up in one big man's pocket (as has always been the case for decades).

...And some cretins have been shouting at the top of their voices and asking what the benefits of all those foreign trips are. Anyway, for people who genuinely think that people like Diezani are saints and heroes, the daftness of these people is no longer in doubt.

All I can say regarding this topic is, thank God we now have a responsible government. I know this is a covert loan from the US which will definitely be repayable. But I can sleep peacefully at night knowing fully well that this money will not end up in the pockets of some imbeciiles who some other imbeciiles would then regard as 'heroes.'

Another useless write-up from another Igbo person suffering from PPD (paranoid personality disorder) and persecution complex; always assuming everybody is deliberately out to hurt them and always assuming themselves to be victims.

Our second fear was that PMB has been portrayed as a hater of the Igbos, and that he would not only push the South East to the back bench in his policies as President, but would also initiate actions to Islamise that zone that voted massively for the PDP.

In Buhari's first attempt to contest democratically in 2003, of all the over 250 tribes in Nigeria, he picked an Igbo running mate. In his second attempt in 2007, he once again picked an Igbo man. Does this really sound like the actions of a man who hates the Igbos?... If there is any chance that Buhari now hates Igbos, it is simply because of the diabolic and rabid hate which Igbos have shown the man. If someone hates me so much for absolutely no reason, I don't think I would be foolish enough to be endeared to such a person.

Furthermore, anyone out there who believes that Buhari can Islamise anywhere, most especially the South-East, such a person must be a capital dunce.

And why is the military HQ telling us this?

What do we need this info for?

Why dont they go ahead and use the 'clues' to arrest the bastards?

Hahaha..

There is definitely fire on the mountain top... and unlike during the past administrations were nobody seemed to be on the run, it is clear the tides have now changed.

Interesting days ahead... Nigeria must be better, whether the devil and the devils like it or not.

mars123:
Imagine a Buhari as president since 2007 - 2015. There is no doubt our lives would have been much better.

Sai buhari.

If buhari had been president since 2007 and if Nigeria never went through the monumental rot and economic pillaging of the past administration, we would never appreciate what buhari stands for. The only reason Nigerians can appreciate buhari's leadership is because we have experienced the bad and the (very) ugly.

Amaechi looks very uncomfortable in that parlour, trying hard to maintain a straight face

[img]http://4.bp..com/-J48B4x_bMgY/Vg9yhFKFsfI/AAAAAAACybk/4a0TcLjPLIg/s1600/unnamed%2B%25283%2529.jpg[/img]

OZAOEKPE:
"the youths of this country are solidly behind you ma, no weapon designed by PMB and his bandits shall prosper. Anything that happen to her, we won't take it lightly, we will being down this zoo". Quote me anywhere






-click share if you share my view, and like if you hate my comment

Only a diabolically evil mind or just a compound iidiot would share your views on this. I dont even believe you share your own views; you just make all these senseless comments out of anger due to the defeat of GEJ in the last election.

Chaii... I really need to take lessons from this guy..

hahn:
Obasanjo is just as big a thief as Jonathan is, if not bigger. What happened to all the funds that were allocated to electricity and roads during his tenure?

Obj is only better at covering his tracks than Jonathan plus sentiment is on his side.

Miranda11:
If na OBJ his tym to is coming. D power sector probe is also goin on so there is no escape for the Ota Boss. Spillin d beans on Dieziani will not save him from being probed as well. We dey watch.

We've heard enough of these stories about OBJ stealing $16billion meant for power but that's absolute rubbish. If OBj was directly involved in that mess, he wouldn't be as bold as he is today.

After OBJs tenure, the ndudi elumelu headed power probe indicted several big men, those men are not ghosts but rather, are the same set of big men and friends of the government that still controlled things in this country during the reign of GEJ. I think it is silly to heap the blame on OBJ even when a probe was conducted and names of the real culprits were mentioned. Besides, if OBJ was still the president following the probe, maybe something would have been done about the criminals. But unfortunately, the immediate ex-president didn't think it was necessary to go after such criminals, in fact, according to his goat and yam ideology, these people were only involved in 'mere stealing and not corruption' and hence should be let free.

Meanwhile we have die hard supporters of this immediate ex-president heaping the blame on OBJ as the one who pocketed the money. You guys should be honest with yourselves.

Now for those asking how OBJ became so rich, it is not rocket science to understand that as an ex-president, he would enjoy massive goodwill and can never be poor except he consciously chooses to be poor (like PMB etc). That is not to say the Ota man may not have stolen billions, but you can be assured that he has done it with the highest level of tact and his tracks can never be traced, hence his uncommon confidence today.

melzabull:
madcow1, obailala


what sayest thou?

Judging from both tweets, the dude is a joker...

Regarding the bombings, I have always been of the opinion that the most formidable weapon of warfare is a person who is willing and happy to take his/her life especially as a suicide bomber. This situation hardly has any thing to do with the competence of any security force (be it under gej or pmb); only God can protect under such circumstances.

However, when it comes to a ragtag insurgence taking over several towns and LGAs for months, I think that is a clear sign that someone isnt doing a really good job.

melzabull:
You keep putting so much effort to mask your ignorance. For the umpteenth time, why did the demolition date shift backward suddenly from oct4 to oct1? The contention here is about the date shifting and not necessarily the demolition, or are you blind to notice?

The iddiots are already giving you the likes while they laugh heartily wherever they are at your idiocy and probably calling you a 'learner' or 'correct guy' who wants to be more Nigerian than the 'N' in 'naira'.

Sorry!

I'm sorry dear, I'm not a paranoid person. And above all, I'm not a tribalist.

melzabull:
So when one complains of an unfair treatment, its called crying? or is the persecution not obvious?


And you telling me you cant see the obvious deliberate mischief there? answer my question and stop talking nonsense, why the shift of the date from earlier schedule date thereby taking the traders by surprise? and when people speak against the evil decision/act, you call it 'lamenting openly', or should we have lamented secretly? so that the iddiots won't mock themselves

Even people you have same party affiliation with have condemned this evil act, and you are here arguing blindly like an illiterate. Try and see beyond your nose, take a cue from madcow1 and be reasonable sometimes even if its once in a while. Only an irredeemable fool will fail to see the ethnic colouration written all over the demolition act.

Grow some brain!

I'm sorry but I'm not of your school of thoughts... I hate it when everything is read as ethnic even when it's not proven. Inputing ethnic/tribal motives and reading ethnic/tribal meanings into every single act of your neighbours is the surest way to never be at peace with yourself and with your neighbours. Just the same way Fashola deported destitute to Ibadan, Oshogbo and some other places, but it never made the news, but the moment some were deported to onitsha, the headlines read, "Fashola hates Igbos.. Fashola is deporting Igbos from Lagos"... and in no time, a needless ethnic alarm and tension was created fuelling unnecessary hatred and rivalry.. That exactly is my point, does everything in your life have to be given an ethnic colouration?... I asked a question, is this the first market that's being demolished in Lagos?... Why and how have you instantly concluded that the LASG headed by Ambode is demolishing the market simply because the traders there are Igbos?

Why do people hate this woman so much?

melzabull:
You are st√pid!

Smh!

It is because you are crying like a child and lamenting openly that your are being persecuted because of your tribe, that is the only reason why those iidiots you talk of are taking advantage of you idiocy, laughing, rejoicing and mocking your tribe.

melzabull:
and you ate suffering from Idiocy Induced Paranoia (IIP) who lacks the discretion to decipher when an issue has an obvious ethnic stamp.

This is evident from the comments here but you are blinded by gross st√pidity to notice, otherwise have you asked yourself why a schedule Oct. 4 demolition notice suddenly turned to Oct.1 when they took the people unawares with the demolition?..Just keep on with your delusion

Kindly shut-up.

This isn't very good news... She's needed in Nigeria to answer some questions regarding billions. Remanding her in prison in the UK or anywhere doesn't help Nigeria in any way.

melzabull:
I do not expect people like you to understand that the demolition is more of a show of power tussle and ethnic superiority as such the deliberate act which every discerning mind can tell from the way some lazy haters are rejoicing over this act. Remain blind and keep sleeping

Of course, I did not expect people like you not to automatically interpret it as a tribal attack/assault on the traders solely because of their tribe. You suffer from a very common ailment amongst the black race called Paranoid Personality Disorder (PPD).

It is people like you who rush and attack that old innocent relative in the village when you have a mere headache because in your paranoia, your brain always interprets every negative thing you experience as an attack by 'your enemies.' And of course, it is because there are a lot of people like you out there who automatically view things like this as a tribal attack, that's the only reason why some senseless tribalists on the other side are now rejoicing and claiming it to be a point in their favour. Grow up!

ERAKAMUS:
El Rufai and the so- called Sanusi are both Products of Quota System and Northern Influence, Don't be deceived by what some Crude people post online.

Not as vast and intimidating as Soludo's CV, but El Rufai is also a first class scholar with a Havard degree. As for Sanusi, he's also an internationally recognised genius. No matter the hate anybody has for these 3 men for whatever reason, it cannot change the facts about them.

So because a market is demolished, it is now seen as deliberate war against Igbos and some people go as far as mocking people who lose their means of livelihood? .... Is it only in Lagos that markets have been demolished?... and is it only Igbo dominated markets that have been demolished?... Why must everything be tribalised to raise needless tribal tension in Nigeria?

It's a sad development for those involved/affected, but at the end, it is for the better good. I don't see why this should be turned into a tribal war.

dmz1:
Igbo's may never get the presidency, but Yoruba's too will never be President of Nigeria again. the north henceforth will always be producing the President till the country breaks up.
this is the sorry situation in the south now

There is a very high chance that the SW will even be president after PMB. From the look of things, it would even be easier for the SS to produce another president before the SE. The reason behind this is simple, the Igbos have generally failed to play proper politics of partnership. GEJ's era actually made matters worse when you consider the actions and reactions of Igbos pre and post the 2015 elections. You do not get the presidency of a nation by burning bridges (which is exactly what Igbos are doing presently). Even the SS of which the SE is presently courting politically would even be wary of completely supporting a SE presidency any time soon.

In a nutshell, it would be very difficult for the SE to produce the president of Nigeria based on the current situation of things (except a Yaradua=>GEJ situation occurs). The actions and reactions of the SE within and post-GEJ era has further created more distrust and further dampened the chances. This is something a number of Igbos have realised lately, hence their renewed campaign for secession as the next available option. But personally, I think we should concentrate in developing our region ourselves and also, aim for a proper cooperation with the middle-belt, the SS and the SW to fight the north for the actualisation of true federalism. From Nigerian history, producing a president has never helped any region and I dont think the case would be different even for the SE.

shegsky:
ladies and Guyz , hardly have i set my eyes on obama with a prepared speech with A4 paper at any event . what Does he use and how did he go about it without mincing words ? cos i believe i will become a president in the nearest future. Anybody with an idea.

Obama and all American presidents use a teleprompter. In addition, Obama is also an exceptional public speaker, hence his outstanding nature.

TonyeBarcanista:
Immediately after the announcement of the Presidential election, I confided in some allies that for PDP to come back in 2019, it must present a candidate from the North. Specifically, the North East. I'm so glad that PDP has zoned the 2019 presidential ticket to the North. This is a testament that the party is ready for business.

Why The North?
1. Nigeria has held five presidential election since this 4th republic in 1999. The south was given the PDP's ticket on four occasions; SW(1999 and 2003) and SS (2011 and 2015). The North only had one ticket, which was in 2007(NW).

2. It will be fair and just that the North be allowed to present the PDP presidential candidate in 2019 and 2023 Presidential elections. This will give the the North a sense of belonging and equal partner of the party. PDP beloings to everybody irrespective of religion and region. It is the only party with National Appeal.

Preference For The North East:
In my opinion, it will be fair and just that the North East be allowed to present the presidential candidate for PDP in 2019. The reason being that the North East is the only region in Nigeria that is yet to produce president of this country. Fortunately for PDP, we have credible chieftain in the person of Mallam Nuhu Ribadu (Adamawa) that has the personality, charisma and credibility to stand shoulder-to-shoulder with incumbent Muhammadu Buhari. We also have Governor Ibrahim Dankwambo of Gombe state.

South East Should Produce The Vice Presidential Candidate:
For the Vice Presidency of 2019, the South East deserve the slot to compensate for their loyalty to the party. Also considering that of the three regions in the South, only the SE that has not been on the joint Presidential ticket of the PDP since 1999. While the SW produced the presidential candidate in 1999 and 2003, the SS produced presidential candidate in 2011 and 2015, and VP candidate in 2007. Having a candidate from the SE in the 2019 ticket will be correct politically, morally and on the basis of equity.

My unflinching support will always rest with a PDP NE/SE Presidential ticket in 2019 and 2023 elections.

I believe that come 2019 the PDP will reclaim Aso Rock if we get things right... I believe we shall...



PDP Shall Lead Again!!!
Power To The People!!!

Well, I agree with some of your postulates, I think Ribadu or Dankwambo are good candidates from the NE, and a SE VP would be in order. But unfortunately, I dont see the PDP taking power from the APC in 2019 (except PMB doesn't re-contest and APC fields a clown).

Another problem also would be PMB stepping down and handing over to another northerner, and you really think the SE/SS would agree to such an arrangement all because it's PDP?.... With the present regional divide in Nigeria today, I personally don't see the SE/SE voting for a northerner.

alonzoiv:
Always exposing breasts. (some) Women sha. INTROVERT, welcome back.
While you were away, a lot of things happened. FTC is no longer a do or die affair like it was before. Click LIKE if you think it's high time Flavour did the needful and married this woman.

Abeg, where did this one see exposed breast in the pishure?

Urine:
Really? Running a media business is charity? Airtime is free? Broadcasting equipment run on water? Manpower costs nothing? Why do you people keep on talking like experts on things you know nothing about?

So even with all the explanations on this thread, some people are still obstinate?

Those media stations mentioned would lobby and bribe their way to get clearance to go cover those events, if they don't succeed, there are a lot of other media houses queueing outside that would be too excited to take their place.

Very soon someone would soon tell us the INEC paid channels TV to cover the announcing of election results, or maybe the CCT paid Channels/AIT to cover saraki's trial last week.

Kaii..

denko:
This propaganda must stop, How much do u think Ait, NTA and other media houses charge for hourly coverage of event Google it and see the fraud in 70 million budget for independence, i hope Buhari will open his books for us to see after now.

..and you think the presidency would have to pay AIT or CHANNELS first before they cover it's news?

Kaii!!... Why is it only dull people that hate buhari so much?... Yet they claim he is a dullard?

Please where is Barcanista and the other sensible anti-buharists?

winniz:
Yes, The voice in that altered audio been circulated does not belong to Nnamdi Kanu.

winniz:
Are you trying to tell me you don't know that Newspaper is fake? Just the way they are circulating a doctored audio claiming the voice belong to Nnamdi Kanu is the same way the mischievous OP with his fake newspaper never included the year he claimed Rochas made that statement, even the Month on that Newspaper is false.

Thanks for the clarification... I knew the paper was a fake tabloid, and from the february date, you could tell it was just dirty politics being played against rochas prior to elections... but I couldnt really tell the motive behind the audio recording, hence my questions.

maestroferddi:
Oga, it appears you are out to insult our intelligence.

Why exactly were you trying to achieve by insisting that an assertion about all Igbo women being prostitutes must have been made by a certain Daniel Kanu when you know, at least, by commonsense that such comment must have been doctored?

How come you rode on with your obvious bent on mischief even when you were being corrected? Were you covering yourself in glory?...

Is that what you mean by me making a disparaging statement against Igbos?

I listened to a youtube audio recording which purported that kanu made a distasteful statement about Igbo women, then I opened this thread and saw a silly newspaper image which reports that it was Rochas that made the statement... and then I asked a question "wasnt it kanu who made this senseless statement?"

And for this above question, you and the mannerless girl have been insulting me all evening?

How on earth did you interpret this to mean I was insulting igbos?... I am born of an Igbo man and woman, Is it my fault that you cannot understand simple english?... or is it my fault that you chose to read senseless meanings to my statements?