MyVILLAGEpeople:
You see this life ehnnn. We will all definitely end up in the grave. But since riches and poverty is vanity. Please choose your own vanity wisely.

Slurity:
it is about the Nigerian law and not about belonging to that particular party. Nigerian law said you must belong to a particular part before you can contest for any political position.
Don't also forget that, the second reason the court sack the NNPP governor is even more huge than the first. Over 160k votes of NNPP votes has been removed because they where not sign nor stamped by Inec and counted for only NNPP candidate which clearly means rigging of that election. After removal of those vote, he came second position.

Bliss52:



David Hudeyen trying to stay relevant

Well most Private Jet in Nigeria are actually registered ofshore to reduce cost per year


You wish a first class accountant from OAU Ife(best Graduating student),son of Ibadan hero Adelabu Penkelemes, former first bank ED, one of the richest hotelier in ibadan Death

A drop out like David Hudeyen can only impress illiterate Ipob


Why does Peter Obi register his company in tax havens, British virgin islands, panama same reason


.

modelmike7:
..... I stand for the TRUTH, now and always. I am not a political party person.

modelmike7:
Now, you can see the wailers , AKA, the children of hate commenting, liking, praising Sahara Reporters for this news that is in their favour. Now 'SR' is no more sponsored by Tinubu! Hypocrites.

SleekAboki:
The Great lizard of Ubima that 'delivered'rivers state to buhari has again been given a brutal knockout for the dogged sani.

Eeser:
You can call me a zombie If you like. But I believe in what he just said. Cause I wish for this suffering to end.

ogunsbanjul:
sooner or later you will know Fashola is capable only that the so people like the minister himself is sabotaging the industry. let him go and check Fashola records in Lagos. politics apart

seunny4lif:

Yes and No
He can use his position to draw the chief of Staff and the president to what is going on there...

searchiing4love:
May God Punish GEJ for dragging this nation in the mud with his excessive looting and foolishness. May Buhari live long

Tokety7:


Who and who returned the bastard? Or do u want Buhari to investigate the amount he distributed also for that election. That's not even the point. The point is as at 2012, his true self as a criminous fraud was already known which started by the time he was acting.

samobaba:
Jasper Azualatam wrote:

THE FEDERAL GOVERNMENT DID NOT REMOVE SUBSIDY BECAUSE THERE IS NO SUBSIDY AT #86.5 PUMP PRICE OF FUEL

Before you go to protest against the removal of fuel subsidy by the Federal Government, be informed that the government did not remove any subsidy because there was no subsidy to be removed in the first place! So don't go and protest against what does not exist. Seek information and be informed.

This is what the government has done. The government has simply stopped giving foreign exchange to fuel importers and has asked them to source for foreign exchange through secondary sources.
Why has the pump price of fuel increased from #86.5 to between #135 and #145? This is specifically as a result of the difrence between the official exchange rate and the informal (parallel) market exchange rate. This is the simple mathematics.
The official exchange rate is #199 per dollar while the parallel market exchange rate is #320 per dollar. This represents and increase of 37% (320-199/320 × 100 = 37.8%). This reflected exactly in the new price of petrol as it increased from #86.5 to an averag of #140 which is an increase of 38% (140 - 86.5/140 ×100 = 38%).

There may be a gap in the dissemination of information to the public and it is totally regrettable and I am sure it will be taken care of, but I encourage Nigeians to seek the right information.
I have always insisted that there was nothing like fuel subsidy and I stand by that. The Federal government cannot continue to be the sole source of foreign exchange for the importation of fuel in the face of falling price of crude resulting in the depletion of our foreign reserve. It unsustainable and cannot satisfy the domestic consumption of fuel in Nigeria.

Nigeria gets foreign currency from the sell of crude and the price of crude has fallen by over 70%. This means that the government no long has enough dollars to give to fuel importers. A lame man shoud be able to understand this.

With the competition that will set in from the open market, it s expected that the pump price of fuel will naturally crash in time.

Please share and enlighten every Nigerian.

Jasper Azuatalam

EbukaFran:


You Igbos are hypocrites

This is N13milliom not $13 Million

N13 million is what some people were stealing per minute under the Otueke Drunkard, yet these useless Igbos are shouting because of a N13 million (LOAN)

useless people

Tokety7:


So as acting president, there was a president taking decisions not him eh.......smh

Tokety7:


Shut up or answer the damn question. When did he become the acting President and who was in charge then.

Tokt:


Arrant Nonsense. Do u think u are talking to ur fellow foolish gullible minds here? What do u take us for?
Which year did he became acting president? For how long was he such before the core election ? Or are u insinuating that during this period, the Otuoke bastard wasn't in charge?

Tokt:
These celebrities are far more sensible than the op whose attempt to ridicule them falls flat. Comparing both scenarios is plain foolish and nothing more.
in 2012, it was clear that we had a ineffectual buffoon who had allowed a subsidy program to balloon by over 300% because he wanted to satisfy his cronies
in 2016, it is clear we have a nation in hard times which require even harder measures

Owamudia:
Nonsense!
PMB will not and must not give in!!
Subsidy must go forever!!!

Praktikals:
Nice write-up, but you can't blame the Nigerians who resisted the move in 2012. The average Nigerian was/is more concerned about what happens to the money that will be saved through subsidy removal.

koboko69:




Am tired of educaring your lots. Even the economiat ur celebrate every now and then kept warning about how bad the economy was gonna be, and even vindicated the present administration by saying Jonathan's government lacked the WILL to save during the time of plenty and also further explained that, its the reason why Nigerians are going through what they are today. A quick google search will give many links to that article.
Further more, it is not Buhari that crashed the oil prices, where Yaradua was able to defend the Naira when oil dropped to as low as 35usd per barrel because of a robust forex reserve which grew from about 42 bn dollars to 68 bn dollars when he assumed office, Buhari is not able.to.do so, cos our treasury was looted and the foreign reserve stood just about 30bn dollars at Jonathan's exit.
Inflation is expected when things are like this, and as for tomatoes, we all know ita as a result of 2 reasons, the Virus that attacked the tomatoes plantation nicknamed tomato ebola, and the dangote tomatoes paste factory. U all claim the North is useless, but just an issue with tomatoes in the Norrth and Middle belt, we all are groaning.
So the bag of rice blabla is stale and null as every other oil dependent country is experiencing same inflation even Almighty Saudi Arabia. So far so good Nigeria as faired well amongst others..Even your hero was already borrowing to pat salaries at 57usd per dollar, so spare us all these tales and face reality. Good day!

koboko69:
Subsidy Removal under Jonathan;

Jonathans government announced the total removal of subsidy on Jan 1 2012.

The Facts;

1. Oil sold at 113 usd per barrel as at Dec 31st 2011

2. The exchane rate as at Dec 2011 was 1 usd to N 162.3

3. Jonathan's Predecessor actually dropped PMS price from N75 to N65 and was able to sustain subsidy whilst handling the amnesty program for repentant millitants till his early dismiss.

4. A more bouyant foreign reserve and growing ecomomy.

The government's major basis of total removal of subsidy was sighted as massive corruption. Rather than deal with the monster, the incompetence of the government was shifted to the masses. Many Nigerians were not ready to make the government have more money to loot, as subsidy was still sustainable at that time.

After the Occupy Nigieria protests, the price of PMS was revised to N97 per littre, with the promise of urban busses, building and rehabilitation of refineries e.t.c. It is interesting to note that the only partially successful programme after the subsidy removal was SURE-P because some Nigeirans benefitted from it without the "u must know someone" clause. Till the exit of Jonathan's government, we had no functional refineries, neither were new ones built.

Please note, Boko Haram was more like rag tag millitant as at the time of subsidy removal but later grew to a sophisticated, machine guns, tanks rolling millitant. So BH as an excuse is not tenable.

Subsidy removal under President Buhari.

1. Oil price selling below 40usd per barrel

2. Exchange rate of N197-N199 to a dollar and N320 to a dollar in the parallel market.

3. An ailing economy, with limited FOREX, and dwindling reserves.

The major reason for the total removal of subsidy by the current government is because of scarcity of Forex and an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the present government have been able to tackle corruption to a fault in the oil industry.

The oil Marketters have now been given the liberty to source forex from other sources to import fuel which is the major reason for the high price hike.

The current government have made moves which will see the price of PMS drop in the nearest future. For the first time in years we have the Warri, Kaduna, and Port Harcourt refineries working together but some misguided youths amd miscreants in the name of avengers have decided to keep sabotaging the efforts of the present government.
There are also moves on ground to build more refineries.

In my opinion, the deregulation of the lower stream sector is right on track at this time and I stand with Buhari on this.

For now i see no reason why this government should not be supported, as they still have more than 2 years to deliver. Should the government not meet up to expectations before next elections, then Nigerians can't take their anger to the polls.

God Bless Nigeria.

mrvitalis:

The role of any government is to take decisions that will be best for her citizens

mrvitalis:
Nigerian politician know that the Nigerian population are really ignorant and they use this very well
How can a sensible politician criticise the subsidy removal

I challenge any Nairalanders to give an alternative, we're government would pay subsidy, pay workers, build roads, airports and other infeatructure we need putting into consideration our revenue

This will surely have sooner or later, we prospnded this four years ago and achieved nothing should we follow the same part and expect different results? ?

This is a painful decision but the benefits so passes the pain

Very soon people would see that u would make more profit if u build refineries here
Expect more biding for refineries licence in the next few months
If u think am wrong I challenge you to an open debate on this

Akshow:
I bought my SIM card with number for 30,000 NAIRA. I made calls 70/per minute, whether it was 25 seconds or 60 seconds. Then MTN held sway.

Glo came. Econet came. Other Telecom companies came. All of a sudden, the price of SIM cards crashed to 3000 and 1000 NAIRA and then nothing! The telecom companies started begging us to pick up their SIM cards for free.

And now, I don't even know what MTN charges for a minute's call again. It's something I take for granted. But in 2004, I always checked my account balance to see how many minute's call my airtime could sustain. I do not have that worry today.

Competition in the sector has driven down the cost of everything. If my MTN line misbehaves, I buy airtime on my Glo network and make calls from there. There were times when MTN gave me bonuses whenever I had dropped their SIM for other networks just to woo me back.

Occasionally, MTN will role incentives, promos and packages to reward my loyalty. Other telecom companies do the same. The endpoint is always to keep their customers happy and hooked to their brands and services.

All that happened because President Obasanjo deregulated the sector. It appeared a crazy idea when he did it, in fact, the cost we borne was humungous. But all that has eased out to usher in an era of choice that comes with comparative ease today.

If you support the government's deregulation of the petroleum sector, though initially things will be tough, but ultimately, it will bring happiness just as we experienced in the telecom sector.

Have you ever imagined a situation where independent marketers will fall over their necks just to have you buy fuel in their stations? And then, you, the buyer, will make your yanga whether to buy in station A or B, if their price, quality and quantity is right.

That time will come, and sooner than we expect. So let's endure the pain of deregulation to enjoy the gain that is sure to come.

VictorRomanov:


The bolded got me laughing. Are android phones the only phones in Nigeria? You just sit in your comfort zone and start drawing conclusions. I've been to places were there re little or no basic amenities and people still use the Nokia torchlight phones.

Yes, petrol is an essential commodity, but given that Nigerians have been buying petrol for close to N300/litre without any protest indicate that they can and will survive with N145/litre pump price. With the subsidy removal, anyone with the capacity to, can import product and sell at their own prices. This may lead to competition and maybe reduction in price.

Raymie:
To add to this, we should stop using diesel as comparative as well. When diesel was deregulated in 2006, it cost 90naira, now the same diesel sells for 125-165 and in periods of scarcity, 300+. And this is not exactly an essential commodity. PMS on the other hand, dictate the prices of things around it as it directly impacts every Nigerian one way or the other. If tomorrow, petrol falls, will foodstuff, services and all those that base their pricing on - among other factors- petrol price hike, reduce the price of their products? I'm personally not against the subsidy removal. however, at a time when we suffer grinding hardship is nothing short of inconsiderate. The government's attitude, honestly, is one of do your worst, we don't care.

Ehisod:
The recent announcement by the FG on change (deregulation) in PMS price prompted to want to know how it is with other countries and I stumbled on this site [url]www.globalpetrolprices.com/gasoline_prices/ [/url]

So given the new price regime we are now in the $0.73 price range at the official 199/$1. Still not too bad other oil producing states like Canada are still ahead in terms of price but at least dem dey get light and don't carry gallons and generator tanks around like we do here.

Oz4realsss:


Your claim is ridiculous. How dare you compare the petroleum industry to the telecommunications sector? Although there may have been noticeable gains, but its effect on the common man is never the same as the petroleum product would.

The telephone is not an essential commodity as the petrol. The common man depends on the latter for transportation and electricity. It is also an essential factor that determines the prices of goods and services in Nigeria. It further determines the cost of running small scale businesses in this era of epileptic power supply.

Same cannot be said about the telephone industry and its associated products and services that you provided as an analogy. Even when the telephone sector was deregulated, only those that could afford the high cost owned telephones. Till date, only those that can afford it are still patronizing it. There are very expensive android phones also, but not everyone owns them. Infact, very few Nigerians own and use android phones. This simply tells that the telephone ownership and usage is not an essential commodity that affects the general wellbeing of an average Nigerian.

Having said these, stop comparing oranges to mangoes!

VictorRomanov:



The subsidy removal is a welcome development. It is much like the deregulation of telecommunications sector. At first people bought lines for 50k+ but now line is free. You only pay for recharge cards. I believe the same thing would happen to petrol, hopefully. My only annoyance is that we are 4 years late. Because the same people who are championing it now, were the same people who instigated protests all over the country. What was their motives back then? What has changed now? You talked about conditions, what conditions has changed?

Looking at it carefully, I've come to see that politicians care little or nothing about the masses. Their only concern is to wrestling down power from their opponents, even if this means being unreasonable. And my friend, its so unfortunate that u have refused to see this!

uniklinkum:
Wow!!!! How foolish can some people can some people get in this country, Somebody cornered your common patrimony that should have been used in bettering your pathetic lives. Yet some people are up in arms to defend a common thief. I give up on this country finally, y'all can forever remain in your pathetic condition.