₦airaland Forum

venabili:
Good post. I never supported the continuation of this fuel subsidy especially with our porous borders and the opacity of the subsidy regime itself.

One thing you did not talk about though is the comments by Buhari that subsidy does not exist and claiming to pay such is a fraud.
Secondly, the one refinery a year promise he made. If that had been kept, we will likely not be talking subsidy. Were this just political ploys to clinch the presidency? What does that say about his integrity?

1.The day he said subsidy does not exist, is the day I knew he didn't understand how the thing worked.SUBSIDY EXISTS when government sets the price.

He was right about the fraud in a way..people back then were making fraudulent claims for subsidy eg claiming subsidy for petrol not imported or transported, and Nigeria lost billions in the process. (which, in fairness, he ended by making NNPC the sole importer...although that was just moving the problem from one place to another, not getting rid of it, and anyway the scam continues eg smuggling subsidised petrol to other countries via smuggling)

2.Anyone promising one refinery a year, without removing subsidy, is doing magical thinking. It's not possible, not without subsidy gone. How are we going to get the profit to maintain said refinereis plus how do we even attract investment for the refinereis when subsidy means no return on investment? APC was talking in dreams.

Politicians, all of them, lie to get into power. It's one reason why I can't stand APC or PDP(yes, Atiku came in 2019 with promise of N90 fuel . Had he learned anything from Buhari's dud N40 fuel promise?). Buhari, as par the course, lied and made promises he knew he could not keep.

helinues:
Toh

U mean u have nothing to say?? I was expecting the usual trash from u... Nonsense BMC

maak400:
Dangote already said he'll sell his petrol based on international oil prices, so nothing like reduced price of pms.

He has to, or he would be running at a loss, and the banks will start eyeing his other lucrative assets...

All Government has promised him is that they would sell crude to him in naira, not in dollars. That's all.

goodheart01:
U mean u have nothing to say?? I was expecting the usual trash from u... Nonsense BMC

It's good to be keeping ones opinion sometimes.

Btw, I have been one of the people criticizing this government regarding fuel subsidy..

So before you troll, think twice

helinues:
It's good to be keeping ones opinion sometimes.

Btw, I have been one of the people criticizing this government regarding fuel subsidy..

So before you troll, think twice

Do u also criticize this government in other areas?? You're always a BMC

Racoon:
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?

After failing woefully to sell petrol @ reduced price and delivering the one-year, one refinery promise, the fraudster of a president is now gonna pass the buck to another fraudster.

Buhari was simply the biggest political scam and fraud ever visited on a nation. Meanwhile, where are the "Ojota occupy and Save Nigeria" groups? Guess they have long lost their voices? Histroy will never be kind to you all.

Have noticed that once buhari's lies are exposed you would never see his supporters comment esp that manna guy.. guess they have no counter lies to counter the blatant lies...

Dont be deceived my people, 2023 is make or break our votes count... lets be alert to their lies and deceit ,never again be brain washed by their big fat glaring LIES..

Nigerians deserve subsidy/welfare, eliminate the corruption in the subsidy system, that is your job as political office holders, unless you don't want to. The other option is wait for Dangote refinery, because I know he will sell cheaper, because he will avoid shipping, insurance, landing costs etc... this will reflect in his selling price.

mediainc:
Nigerians deserve subsidy/welfare, eliminate the corruption in the subsidy system, that is your job as political office holders, unless you don't want to. The other option is wait for Dangote refinery, because I know he will sell cheaper, because he will avoid shipping, insurance, landing costs etc... this will reflect in his selling price.

Yes, there is nothing wrong with subsidy, but the issue is, we pay for subsidy not from tax revenue, but from crude oil revenue, which due to changes in oil price occurring every month is very unstable.

And at the moment less than 30% of taxable Nigerians pay income tax. That leaves very limited money to pay for subsidies, and forces us to take loans to make up, every time we have to pay for subsidy from oil revenue,

And subsidy is the reason why we have bad local refining capacity. Niger republic has a working refinery, and no subsidy, meaning the refinery makes enough of a profit to run very very well.

I will make 1dollar 1naira..
I will practise true federalism
I will destroy boko boys
I will deliver 24hours light in 6months
I will pay every poor nigerian 5000naira monthly
Jonathan never bought any weapons
dasuki stole 12billion dollars
I will call a referendum to amend the constitution
Subsidy is a scam
I have removed subsidy
I will make sure no public official travels abroad for medical treatment
I will make all public officials declare their assets
I will destroy corruption
I will ensure freedom of speech.
Boko haram has been defeated...
The party of LIES , headed by the king of LIES..
my people its time to take back our country, our mandate will never be given to people like this ever again,we will dissect,analyse,and fact find about every candidates campaign speech and past interviews..

backbencher:
Yes, there is nothing wrong with subsidy, but the issue is, we pay for subsidy not from tax revenue, but from crude oil revenue, which due to changes in oil price occurring every month is very unstable.

And at the moment less than 30% of taxable Nigerians pay income tax. That leaves very limited money to pay for subsidies, and forces us to take loans to make up, every time we have to pay for subsidy from oil revenue,

And subsidy is the reason why we have bad local refining capacity. Niger republic has a working refinery, and no subsidy, meaning the refinery makes enough of a profit to run very very well.

When Dangote refinery comes, it will stabilize the price.

They are preparing new lies my people lets be prepared also..

They said jona no buy weapons,jona steal all nigeria money finish,jona no do anything, jona no decimate boko boys ..the same jona they were wooing to come and be their presidential candidate.. lets be wiser come 2023 ohhh..

mediainc:
When Dangote refinery comes, it will stabilize the price.

Not exactly

Dangote would charge at international prices...his refinery is a private concern after all.

He has to pay staff, expand the refinery, upgrade the refinery, and maintain it...and it cannot be done for selling PMS at N162 or less per liter.

backbencher:
Not exactly

Dangote would charge at international prices...his refinery is a private concern after all.

He has to pay staff, expand the refinery, upgrade the refinery, and maintain it...and it cannot be done for selling PMS at N162 or less per liter.

Crude are priced internationally not finished PMS processed locally. OPEC is a block for petroleum "exporting countries", to help them control price, petrol refined and sold locally does not fall under OPEC's jurisdiction, it's petroleum exported. Get your facts right.

Listen he won't pay shipping costs, import duties, insurance, landing costs, this will make a huge difference.

I earnestly waiting to see what the next administration has to say about this administration.

syntekelite:
Dont be deceived my people, 2023 is make or break our votes count... lets be alert to their lies and deceit ,never again be brain washed by their big fat glaring LIES..

This was one aspect that was used to really nail GEJ.

It was unfortunate that GEJ had a weak media team that could not counter the lies of the then opposition.

Even now, GEJ is more interested in looking out for his selfish interest rather than setting the records straight.

mediainc:
Crude are priced internationally not finished PMS processed locally. OPEC is a block for petroleum "exporting countries", to help them control price, petrol refined and sold locally does not fall under OPEC's jurisdiction, it's petroleum exported. You let market forces decide for PMS, that was why the government said they wanted to fully deregulate, so market controls the price. Get your facts right.

Listen he won't pay shipping costs, import duties, insurance, landing costs, this will make a huge difference.

But he has to pay

1.Loans

2.Expansion costs....when the refinery opens, there is still ten years of planned expansion left over.

3.Staff salaries (unlike NNPC whose staff gets paid from the government purse,Dangote has to pay his staff out of pocket)

4.Transport costs...because no subsidy means no transport equalization cost.

5.Refining costs. (A big secret about the fuel we use...it is refined in substandard refienreis abroad to keep costs down. Dangote is refining at a higher standard, so costs go up)

6. Cost of crude oil...which can be low,or high. Prices adjusted accordingly.

7.Potential taxes....yes taxes. Dangote has to pay...taxes.


Government cannot afford to pay Dangote subsidy...because as I said, subsidy comes from the very unstable revenue we get from crude.

Racoon:
NgeneUkwenu

Is this zombie still alive?
Maybe the hardship in the country had squeezed him to the point that he can't afford a browsing phone and data to come online and support his dullard.

ivandragon:
This was one aspect that was used to really nail GEJ.

It was unfortunate that GEJ had a weak media team that could not counter the lies of the then opposition.

Even now, GEJ is more interested in looking out for his selfish interest rather than setting the records straight.

You have said it all.. his team never even showcased his achievements..i think it had more to do with his personality,he is an humble unaggressive kind of man..always wanting to avoid conflicts..

backbencher:
All very correct.

But the truth is, no matter who we replace Buhari with, Nigerians are not going to agree to subsidy removal.

No matter how it is explained ...and GEJ did a good job of explaining subsidy removal which convinced holdouts like me to change their minds...MOST people won't change their minds.

I am not a fan of drastic subsidy removal either. Yet I know It must happen 100% because what we have currently is unsustainable and actually dragging us backwards.

It is like we are paying tonnes of our income, not enough to fund our needs in the first place, to buy failure. Self-destructive governance allowed to go on too long.

Buhari no doubt failed like others before him because he had time to put in place tangible achievements that would drastically reduce the harmful effect of subsidy removal on Nigerians.

For example, Lagos consumes a large amount of refined derivative of crudeused in Nigeria in the form of PMS.

If Buhari is a holistically visionary and effective leader then why not make the Lagos metro rail a federal government concern also to be delivered as a matter of national priority so that the demand for PMS in Lagos, and thus Nigeria, drops drastically?

Most Nigerians run petrol gens. Why not go all out to improve power supply so demand for petrol nationally, to power Generators , drops appreciably?

A lot more could have been done, vis-a-vis the transport and power mix, to reduce Nigerians addiction to cheap fuel.

It all goes back to what I said about Buhari being gradualist, conservative and sentimental in outlook. Atiku and any other Northerner will be no different. Neither would a Southerner, beholden to playing boy-boy to the North, like Jonathan.

Nigeria's problems are not too great for a visionary, sincere and able manager of men and resources to deliver solutions for.

mfm04622:
Buhari disappointed me in this fuel subsidy issue!

There is no subsidy on diesel used in industries to produce alternative power and for long distance transport. We are used to it.
There is no subsidy in kerosene used by the poor in the cities, nobody is crying!
There is no subsidy on gas used by the rich to cook, to produce power but both GENCO and lucky companies, there is no issue.
Why is there fear Nigerians will die if hunger if PMS is not subsidized?
Cameroon, Niger, Chad are all our neighbors. They are all producing countries. None of them is subsidizing PMS. Ghana is oil producing, no subsidy
Our neighbors depends on cheaper PMS smuggled from Nigeria! In reality, Nigeria is subsidizing PMS for all our neighbors! This is not sustainable!

Buhari can only remove subsidy if he actually believes that it exists! In the past he said there was nothing like subsidy, so what is he going to remove?

Buhari just to put hardship on Nigerians even to the next government come 2023 his next successor.... nawaoooo

If subsidy will be removed, it cannot be by Buhari. How do you remove something you claimed doesn't exist. Buhari is a lier and a fraudster... Simple as abc

backbencher:
But he has to pay

1.Loans

2.Expansion costs....when the refinery opens, there is still ten years of planned expansion left over.

3.Staff salaries (unlike NNPC whose staff gets paid from the government purse,Dangote has to pay his staff out of pocket)

4.Transport costs...because no subsidy means no transport equalization cost.

5.Refining costs. (A big secret about the fuel we use...it is refined in substandard refienreis abroad to keep costs down. Dangote is refining at a higher standard, so costs go up)

6. Cost of crude oil...which can be low,or high. Prices adjusted accordingly.

7.Potential taxes....yes taxes. Dangote has to pay...taxes.


Government cannot afford to pay Dangote subsidy...because as I said, subsidy comes from the very unstable revenue we get from crude.

Believe what you may...stop talking dumbly no one is asking government to pay Dangote subsidy... government can give him other concessions to allow him sell cheaper. Even you hate Dangote, let's wait and see.

The criminal once said nothing like subsidy on Nigeria that Jonathan want to steal from Nigerians

mediainc:
Believe what you may...stop talking dumbly no one is asking government to pay Dangote subsidy... government can give him other concessions to allow him sell cheaper. Even you hate Dangote, let's wait and see.

Good afternoon...

This must be a topic in all presidential debate for 2023. Every candidate must tell us how they intend to deal with the issue of subsidy.

Racoon:
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?

After failing woefully to sell petrol @ reduced price and delivering on the one-year, one refinery promise, the fraudster of a president is now gonna pass the buck to another fraudster in waiting.

Buhari was simply the biggest political scam and fraud ever visited on a nation. Meanwhile, where are the "Ojota occupy and Save Nigeria" groups? Guess they have long lost their voices? Histroy will never be kind to you all.

You are filled with HATRED to the brim of your soul..

It's your type that will scream to the heavens if the subsidy was removed without working Refineries,monthly subvention monies,alternative "fallbacks" for citizens to cushion the effect in the midterm period of transition..

Yours is just pure plain IGNORANCE coupled with hatred...