₦airaland Forum

Rugaria:
The president of this country just handed out over 60 oil wells to "UNKNOWN" people and all of you are quiet Is there any bigger corruption case than this? Is Nigeria Buharis property? Why secret? What are they hiding? What's going on!?!?
Within the last few years, Buhari who has doubled as the minister of petroleum, has renewed over 60 oil well licences, and all were kept secret too!!!
People, this is not buharis or fulanis oil wells. This man is auctioning off sensitive economic assets of the country to cronies, while shouting "anti corruption" all over the place! Buhari is the corruption he needs to fight..

Subsidybad21:
I was against subsidy removal from 1993 when i first became aware of it as a teenager

It was GEJs attempt to remove subsidy that led me to start educating myself on why subsides were bad for the economy and led to me backing subsidy removal since 2012.

I was opposed to GEJ, but his subsidy removal was not opposed by me.( I am.no Buhari supporter either. Especially since he claimed to want to make fuel 40 naira per liter which showed he did not get how damaging subsides were)

Abdomox:
120bn/(234-162)/30days= 55.5m litres of PMS daily?

DPR still maintains below 40m consumption level.

What's going on here?

Subsidybad21:
Simple. The value of the naira has fallen since Jonah's time when crude cost 100 dollars per barrel so not enough dollars to raise the value of the naira due to fall in crude prices since 2014( we had it as low as 30 dollars in 2016)

Also the revenue available now to subside fuel is less rhan it was under Jonah's time again due to low oil prices. We are making at least 40 dollars less per barrel of crude compared to 2012. Laat year it was as high as 80 dollars less per barrel.In 2016 it was 100 dollars less per barrel.

And even then in 2012 Jona wanted to remove subsidy completely because even at that high oil price it was no longer sustainable. Nigerians said no then.

Tajbol4splend:
Naivety will make you argue this but followership has done more harm to this country (Forced Union) than leadership

Good and effective followership begets good leadership most times

We the people of this country (Forced Union) don't know our role as the people who own governance

We accept anything thrown at us without any reaction that will make them have a rethink

I witnessed the years of ₦15.00/Litre, even less and I'm about to witness above ₦200/Litre

I witnessed and ran the errand of ₦3.00 long bread

We just accept these things without effective reaction

We are so much naive of the power we have as the people

Why can't everyone, every single one just stop buying it

It's going to be difficult but it's going to be very effective

But alas, we can't make these sacrifices for the greater good

Look where it's got us

Look what it's cost us

They make these decisions not even thinking of what we will do because we always do nothing

That's how bad followership has begotten the kind of bad leadership we have in this amalgamation

Kennitrust:
The foolish man once say 'THERE IS NO SUBSIDY '... Subsidy is a SCAM!



How they make us reject a man with brain and choose a lifeless death brain walking man, still beat my imagination

Kennitrust:
The foolish man once say 'THERE IS NO SUBSIDY '... Subsidy is a SCAM!



How they make us reject a man with brain and choose a lifeless death brain walking man, still beat my imagination

loswhite:
Now what is the effect of higher prices? You guys are quick to call other African countries but will never mention that other African countries dont buy fuel to power generators Other countries dont use 60 million litres daily...you are just mad for posting this rubbish

Subsidybad21:
Simple. The value of the naira has fallen since Jonah's time when crude cost 100 dollars per barrel so not enough dollars to raise the value of the naira due to fall in crude prices since 2014( we had it as low as 30 dollars in 2016)

Also the revenue available now to subside fuel is less rhan it was under Jonah's time again due to low oil prices. We are making at least 40 dollars less per barrel of crude compared to 2012. Laat year it was as high as 80 dollars less per barrel.In 2016 it was 100 dollars less per barrel.

And even then in 2012 Jona wanted to remove subsidy completely because even at that high oil price it was no longer sustainable. Nigerians said no then.

History555:
I don't care if the price is 250. As long as buharist and i are paying the same price for fuel , i am happy

Subsidybad21:
Truth

That's what NNPC has been screaming since forever

At some point keeping fuel cheap is going to cost you billions of money that could have been used for other things.Like new refineries

It is time to let subsidy go. Many African countries who are poorer than us pay higher for fuel.

Subsidy has cost us billions in lost revenue and investment in new refineries and by extension jobs. Plus since 2012 the oil revenue has not been able to sustain the subsidy well. Time to let it go

Komu1048:
They will always come up with stupid statistical analysis to cover up their failure. Is it same Jonathan that made dollar fall, this govt is cursed from the root aswear

dbonks:
Just listen to yourself and ask if you are really making sense ...go to the CBN and NNPC website and download the document containing the actual price of petrol per barrel during 2011 and 2012 and you will see the actual figure instead of the 100 dollar story to sold to you people during election, and uptil this time, people like you are still stucked with this story even in the face of obvious battering of the economy. T[b]he answer is simply Jonathan saw the future and knew the nation can not continue to sustain the subsidy[/b], that was why he even held meeting with the governors then and introduced the SUREP program to see how the effect could be cushioned, but you lots forgot governors that got billions of naira on behalf of their various states and focused on him, abused, insulted, occupied and eventually removed his government. Some of you went ahead to abuse the minister of finance then, calling her a thief, but today she is WTO director general...at last the chicken has come home roost...why can't the government of today look at sustain the dollar at an exchange rate that is reasonable while it removes the subsidy, at least to reduce the burden on the suffering masses, while concerted effort will be aggressively made to address the refineries.. but no every effect and burden is on the masses.
And you lots that brought this incompetence in 2015 are still coming online to make noise....I challenge you to post relevant certified documents here when oil was sold above 100 dollars between 2010 to 2015...when Jonathan was the president let the whole world see.

History555:
I don't care if the price is 250. As long as buharist and i are paying the same price for fuel , i am happy

samwillyco1:
This Government is a DISASTER believe it or not.

What will happen if Government mandates all the mult national oil companies in NIGERIA at least to build one good working refinery or leave the country for other that can do it.

Secondly, the money invested in railway projects should have been used to build new refineries or even privatize the existing ones if Government cannot manage it.

Thirdly why not remove the ban on importation of fuel so that people that have money can go into the business, instead of leaving it in the hands of few.

Finally, why is our government always rush to destroy the so called illegal refineries in the creek of Niger Delta, since our government cannot refine oil. Why not bring them together, monitor their activities, support them financially and improve the quality of product refined from all those refineries and have sources of giving them crude oil to avoid bunkery and stealing of the crude oil. Believe me if it is done these people will do wonders

loswhite:
Can you tell us the price of crude oil in 1999 and also the value of the naira?

loswhite:
Now what is the effect of higher prices? You guys are quick to call other African countries but will never mention that other African countries dont buy fuel to power generators Other countries dont use 60 million litres daily...you are just mad for posting this rubbish

UnimkeAk:
Lol, why are u rambling ?

Buhari Is worst than johnathan in every aspect of governance..

Nigeria never hard it this bad except 83/85

LadySarah:
Can someone explain to me why durinvg Jonah's tenure,removal of subsidy would amount to #145 ftom #97 and yet we are at #212 and still paying subsidy?

Where are the labor Unions that threatened to shut down the country,the Opposition lions and the BMC.


Remove it and let us rest, fools!At this point i feel sorry for the businesses dependent on fuel to power their equipments.

ArcSEMPECJ:
Minister of Finance.....Zainab...Fulani
MD. NNPC.............. Kyari......Fulani
President of Nigeria ...Buhari....Fulani

Oga stop defending clueless people......

Value of Naira can be better when right brains occupy the sit of power