NNPC,the cesspool of corruption.Subsidy issue would have been put to rest during Jonathan administration but some individuals most especially Buhari politicized it in order to gain easy access to power now the subsidy they called a fraud is haunting them daily.

Well, it would be better if we removed subsidy completely, saved this money and got extra money from investments and taxes and suchlike that would flow in as a result of removal of subsidy

It would also be better if we taxed the 70% of taxable Nigerians who don't pay income tax to fund subsides too, instead of using oil revenuie

But no, APC, and most Nigerians love cheap fuel, and hate taxes

At the expense of our economy

Nigeria is a perfect case of, 'the more you see, the less you understand'......what a bunch of crooks we have as leaders!

gurunlocker:
Are we saying 1 trillion can't even build a functioning refinery or something?


I don't understand how this weird country works!

N1 trillion? Dangote's refinery cost him over $20 billion. N1 trillion cant do the job

gurunlocker:
Are we saying 1 trillion can't even build a functioning refinery or something?


I don't understand how this weird country works!

Well, if you take the one trillion to pay for a refinery, you either find another one trillion to fund subsides, or you remove subsides and allow the market control the price

Which long term would allow the new refinery to be funded by its profits, and not from government purse.

israelmao:
NNPC,the cesspool of corruption.Subsidy issue would have been put to rest during Jonathan administration but some individuals most especially Buhari politicized it in order to gain easy access to power now the subsidy they called a fraud is haunting them daily.

GEJ also did not remove subsidy because, Buhari aside, removing subsidy was not popular in 2012, as it is not popular now. Most Nigerians don't like subsidy removal. Buhari took advantage of pre-existing anger (politicians always make good use of a crisis)

(And yes, we should have removed subsidy even before 2012...since 1993 even when the idea was proposed to us)

Racoon:
[s][/s]In (a) pre-2015 video, Buhari said fuel subsidy was a fraud, that it didn't exist, and that he wanted petroleum economists to explain it to him. He's been petrol minister for the past 6 years and has removed a fraudulent, non-existent "subsidy" 3 times. He'll remove it again next year. What subsidy did he remove and will remove again next year?

Same fuel subsidy ought to have gone a long time ago, but the present wicked crop of politicians especially the president, Tinubu and almost all the politicians under this satanic govt played senseless politics with the issue.Have some shame when defending some of the useless undefendable policies of this present failed govt.

Very true, but the fact is, most Nigerians then opposed subsidy removal.Most oppose it now too.

I remember those days well. Back then, I saw the light, but i could not express my opinion in public.

Nigerians have never wanted subsidy gone. That even includes Buhari (who kept it when he was in power in the 1980's despite low oil revenue). They didn't want it gone in 2012, and they won't want it gone now.

Now most people argue we are too poor to remove subsidy. Back in 2012, the argument was that we had enough cash to pay for the thing, concurrent with we are too poor to remove subsidy.

During Jonathan era, excess crude conveniently took care of fuel subsidy but now even with rise in the price of crude oil, there's no excess crude money and subsidy is funded from allocation.

The kind corruption under this kind of opaque arrangement is unimaginable

symbianDON:
Nigeria is a perfect case of, 'the more you see, the less you understand'......what a bunch of crooks we have as leaders!

One trillion is even an underestimate.

The problem with subsidy is that it is the difference between the cost of production and the cost at the pump. Cost of production is always rising, while government tries to keep the cost at the pump artifically low.

That's how we lost our four refineries. To reduce subsidy costs, we tried to reduce the difference between the cost of production and cost at pump by not maintaining our refinereis well. The predictable result happened...the refinereis broke down. Add sabotage...since NNPC workers are not paid from profits from the refinereis(which were non existent anyway, thanks to subsides)...but money from crude sales...and you see the problem

So, we send crude for refining abroad...and the cost of bringing out, transporting , refining, and transporting back fuel is always rising...so does the subsidy

And so what?

To think that this dullard in power have removed this fuel subsidy three times since 2015.
Buhari indeed is a calamitous mistake

Eriokanmi:
They just want to look for ways of stealing by fire by force to fund elections, since their subsidy transport palliative arrangement of 200bn had failed.

But Buhari and his people in 2015 deceived us by saying saying subsidy was a scam. What do we call it now?

Subsidy has always been a scam...people lie about a lot of things to get more subsidy money eg..fuel transported, fuel sold, etc...then there is smuggling of subsided fuel to neighboring countries...

But removing the subsidy and ending the scam means fuel prices higher than N300.Not good for elections

Buhari is a politician. Politicians lie creatively...so that they can get into power.

Remove am. Who cares but leave subsidy till senators salary, governors, ministers salary and allowances are slashed to that of a permanent secretary. There is transparency in spending and government dealings and buhari is out and forgotten. We can talk of subsidy removal

Subsidy scam.

Racoon:
[s][/s]In (a) pre-2015 video, Buhari said fuel subsidy was a fraud, that it didn't exist, and that he wanted petroleum economists to explain it to him. He's been petrol minister for the past 6 years and has removed a fraudulent, non-existent "subsidy" 3 times. He'll remove it again next year. What subsidy did he remove and will remove again next year?

Same fuel subsidy ought to have gone a long time ago, but the present wicked crop of politicians especially the president, Tinubu and almost all the politicians under this satanic govt played senseless politics with the issue.Have some shame when defending some of the useless undefendable policies of this present failed govt.

The boy you quoted don’t have IQ for this kind of argument but watch him rambling around as usual don’t know who is the most dullard btw him and his darling bubu.

If una like withdraw I gazillion, one thing know in a democracy, the people protect their interests, just like the politician are protecting their jumbo pay, allowances and previledges...I will not allow politicians take more from me, to fill their pockets. We all know Nigeria politicians are greedy, they are there for money and plundering.

na our money fools

backbencher:


One trillion is even an underestimate.

The problem with subsidy is that it is the difference between the cost of production and the cost at the pump. Cost of production is always rising, while government tries to keep the cost at the pump artifically low.

That's how we lost our four refineries. To reduce subsidy costs, we tried to reduce the difference between the cost of production and cost at pump by not maintaining our refinereis well. The predictable result happened...the refinereis broke down. Add sabotage...since NNPC workers are not paid from profits from the refinereis(which were non existent anyway, thanks to subsides)...but money from crude sales...and you see the problem

So, we send crude for refining abroad...and the cost of bringing out, transporting , refining, and transporting back fuel is always rising...so does the subsidy

what's your honest opinion about Dangote Refineries coming on stream in the latter part of the year? Do you the subsidy dying a natural death?

symbianDON:
what's your honest opinion about Dangote Refineries coming on stream in the latter part of the year? Do you the subsidy dying a natural death?

Subsidy has to go for Dangote to make enough profit to keep his refinery running , pay debts and still have cash left over.

Fuel prices would be initially high as a result...but since forex is being saved, and since more people may be attracted...long term...fuel prices would fall. Hopefully

Hmn! Everything is laced with lie and secrecy.

backbencher:


Subsidy has to go for Dangote to make enough profit to keep his refinery running , pay debts and still have cash left over.

Fuel prices would be initially high as a result...but since forex is being saved, and since more people may be attracted...long term...fuel prices would fall. Hopefully

But considering that Dangote is going to source crude locally and refining will take place locally, ruling out freight costs and other like charges, I thought fuel prices ought to be low right from the beginning?

Racoon:
[s][/s]In (a) pre-2015 video, Buhari said fuel subsidy was a fraud, that it didn't exist, and that he wanted petroleum economists to explain it to him. He's been petrol minister for the past 6 years and has removed a fraudulent, non-existent "subsidy" 3 times. He'll remove it again next year. What subsidy did he remove and will remove again next year?

Same fuel subsidy ought to have gone a long time ago, but the present wicked crop of politicians especially the president, Tinubu and almost all the politicians under this satanic govt played senseless politics with the issue.Have some shame when defending some of the useless undefendable policies of this present failed govt.

think man
Go check cost of indomine super pack, something of #50 is now #150...

Why not stop other projects like building railway to Naija and use the money to build refineries. Why is it very difficult for FG to fix already built refinery. Is Britain really behind that? Can't FG seek for a loan for building refineries. Is there something they are not telling us?

symbianDON:
But considering that Dangote is going to source crude locally and refining will take place locally, ruling out freight costs and other like charges, I thought fuel prices ought to be low right from the beginning?

Low, but definitely not below 200 naira per liter. We shall see though

Daylight robbery

Corea4king:
Why not stop other projects like building railway to Naija and use the money to build refineries. Why is it very difficult for FG to fix already built refinery. Is Britain really behind that? Can't FG seek for a loan for building refineries. Is there something they are not telling us?

Government is fixing two of the refineries(plus in addition to dangote, there are five refineries under construction, four of which can produce PMS)

The problem is, the refineries need to be maintained, repaired, upgraded from time to time, and expanded...and for that you need subsidy gone, so that fuel would be sold at a price that would enable the refineries to make a good enough profit.

backbencher:


Low, but definitely not below 200 naira per liter. We shall see though

great!! Thanks for your beautiful and constructive responses!

symbianDON:
great!! Thanks for your beautiful and constructive responses!

No problem