Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,156,440 members, 7,830,203 topics. Date: Thursday, 16 May 2024 at 05:44 PM |
Nairaland Forum / Nairaland / General / Politics / Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day (9768 Views)
Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly / Power Producers Sell ₦294.16 Billion Electricity In Five Months / High Oil Price Pushes Subsidy On Petrol To N65.6 Per Litre (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Curious346: 11:09am On Jan 30, 2022 |
Let them Pay the 16b usd.. Who cares |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Onepeople: 11:10am On Jan 30, 2022 |
They said Jonathan government failed to save when oil price was $100 dollars per barrel, today they are trying to convince the gullible that the more increase in the price of crude, the more subsidies they pay for it.who is deceiving who? |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Daniel058(m): 11:10am On Jan 30, 2022 |
I Pity those whose who trust this government |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by okeysoninv: 11:13am On Jan 30, 2022 |
Revolution2022:do you mean kpofire. Illiterate graduate everywhere. Kpofire is now a refinery .no wonder Nigeria is backward like citizens like politicians 1 Like |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:24am On Jan 30, 2022 |
As usual most people don't get what's going on Prices of crude are rising, so the cost of production of petrol goes up That means the cost of subsidy goes up as well..because it is now costing more to keep fuel at 163 naira per liter. Simple 1 Like |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by brownlolly(m): 11:26am On Jan 30, 2022 |
Why are we all worrying about subsidy removal next year when Dangote's refinery will be in production before this year ends? ogododo: |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:27am On Jan 30, 2022 |
Revolution2022: The petrol refined in the illegal refineries are not refined to standard meaning they could be dangerous to your car and the environment Goverment legalising them would be a disaster unless they are ready to make the improvements needed to protect the environment and to refine fuel that won't mess with your engine. Subsidy cost is going up because the cost of producing a liter of fuel is going up due to rising crude oil prices. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by iamblest(m): 11:27am On Jan 30, 2022 |
But wait ooo...government dey claim subsidy on fuel.....I want to even ask...where is govment seeing the money to subsidize the fuel....is it not same oil money they are using to subsidize fuel for us...abi any place dey wey dem dey generate the money from.this thing no make sence at all to me.. Na pure scam jare |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by BigYash: 11:28am On Jan 30, 2022 |
backbencher:So are you saying it better for the price not to rise? Oya make people understand.. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by NwokoloOwa: 11:30am On Jan 30, 2022 |
Even if e like make reach 1trillion dollars, this Buhari regime will not be allowed to remove subsidy. They better get that |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:31am On Jan 30, 2022 |
Onepeople: The same reason why GEJ failed to save is the same reason why subsidies are going up now. Under GEJ, oil was at 100 per barrel. That meant that the amount of money Gej was spending to keep oil cheap at 65 then at 97 and 87 naira per liter was too too high. Which is why he wanted to remove it , but Nigerians said no The same thing is happening under Bubu. Oil prices are rising,the cost of production is going up and as a result he has to spend more to keep oil at 162 naira That's a big reason why subsidy has to go and why GEJ wanted to remove it. It cost too too much to maintain |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Olufemiolaolu(m): 11:32am On Jan 30, 2022 |
How on earth can this be true? This subsidy is more than a fraud . I m wondering who are those consuming this subsidy self. Refining our crude oil in Nigeria is a permanent solution to this subsidy fraud. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:33am On Jan 30, 2022 |
BigYash: I'm saying subsiy has to go,or we would spend all the extra revenue we earn from the current increase in crude oil prices on maintaing fuel at 163 naira. Something I woke up to ten years ago. Better that people make profits and goverment keeps its money instead of is paying for a subsidy that has made domestic refining unprofitable |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Onepeople: 11:35am On Jan 30, 2022 |
backbencher:to the best of my understanding, Buhari have removed subsidies twice? |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Ayoolamax: 11:36am On Jan 30, 2022 |
ogododo:OP PLS CORRECT UR HEADLINE NAA WHY DID U LIKE TO THEY CONFUSE PPL LIKE THIS PLS DONT CREATE WHAT U AND UR FAMILY WILL NOT HANDLE. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:37am On Jan 30, 2022 |
slivertongue: Yes, goverment is corrupt But what is happening here is simple. Cost of producing one liter of petrol has gone up . Landing cost of petrol was 282 naira this week up from 232 last year June And we are selling the same fuel at 162 naira Thus te cost of subsiding the petrol is going. Up from 70 naira per liter at least to 120 naira per liter at least And all this adds up to an increase in the billions. Noting to do with the obviously corrupt APC goverment. Everything to do with the expensive nature of subsides |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by BigYash: 11:38am On Jan 30, 2022 |
backbencher:Very well then. But when PDshit talked about removing subsidy then,Apshit said no. They staged protest in major cities across Nigeria. The thing right now is ,I don't know who is fooling who in this whole drama crude/subsidy .. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:41am On Jan 30, 2022 |
Onepeople: No,he was lying. So long as goverment sets the price,there is a subsidy What they did was to reduce the amount of money spent on subsidy . This manifested as price increase Sometimes ,they even set the price above the cost of production, as done in 2015, and paid no subsidy till the cost of production rose above the goverment set price, then subsidy came back. That's how subsidy removal works Buhari style. It's an old trick 40 years ago,Shagari used the same.method to raise fuel prices from 15 kobo per liter to 45 kobo per liter. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by iamblest(m): 11:41am On Jan 30, 2022 |
backbencher: Me my own question is thus.....where is government seeing the money to pay for subsidy and if they remove it ...what will they do with the money.?.embezle itpr what? Because we no see any meaning infrastructure on ground built by govt |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:43am On Jan 30, 2022 |
BigYash: Nigerians don't want subsidy to go, and that includes even loyal party men and women Even me,I backed subsidy removal until I woke upten years ago. Governments past and present know subsidy has to go. But the threat of a national insurrection that would degenerate into tribal warfare over raising of fuel price stopped them. Even people like Abacha. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Simplythebest: 11:44am On Jan 30, 2022 |
Pls help me ask them. I just pity those people that keep supporting our wicked and evil leaders. updatedws: |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:46am On Jan 30, 2022 |
iamblest: Simple,they take it from oil revenue This means that they don't have money for other things like education, health and so on So they take a loan The subsidy money is what is preventing the petroleum sector from collapsing. They don't make profit beecaise they sell at a loss thanks to subsidy The subsidy money goes to.cover their losses from selling fuel at N163 below the cost of production of 200 naira and above |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by BigYash: 11:46am On Jan 30, 2022 |
backbencher:Perfect explanation. You're wise 1 Like 1 Share |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by MondayOsunbor(m): 11:48am On Jan 30, 2022 |
ogododo: ONE QUESTION is NiGERIA STILL AN OIL PRODUCING COUNTRY? |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Onepeople: 11:48am On Jan 30, 2022 |
backbencher:we should continue to deceive ourselves, what the government is pushing for is not total removal but usual deduction, because if we are to remove subsidy, market forces will now determine the price of PMS not the other way round, a man in sokoto will buy fuel more costly than someone in rivers state. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:49am On Jan 30, 2022 |
flexyrule: 1. Nations that do well.from crude have very small population Populations ranging from 1 million to 40 million. Nigeria has 211 million people and we produce the same as Qatar which has one and a half million people 2. We spend a large amount of crude revenues on subsdizing fuel, and a host of other things |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Oghene1st: 11:49am On Jan 30, 2022 |
In that 1.8m barrel daily, 1.4m is from the South South. That is 1.4m multiply by $90 which equals $126m, over N60b is the revenue generated by Nigeria from South south oil daily. Then one idiot Yoruba boy abi Yorubas will come to say South West is the economic backbone of Nigeria. South South is the one feeding all you hungry zones. 2 Likes |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by tctrills: 11:50am On Jan 30, 2022 |
vincentjk:Agriculture cannot bring in half of what oil is bringing in. The government has spent billions on rice cultivation since the past 10 years. We are still importing rice today. |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:50am On Jan 30, 2022 |
Onepeople: Indeed But at the end the man in Sokoto and the man in rivers don't want subsidy gone. That's the problem sadly |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Enyimbamercedes: 11:50am On Jan 30, 2022 |
Petrol subsidy is a scam. 1 Like |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by tctrills: 11:52am On Jan 30, 2022 |
Under the last administration, oil sold for over $100 yet petrol was mostly below N100 a liter. Are they telling us that the last administration spend all our money on subsidy? |
Re: Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day by Nobody: 11:54am On Jan 30, 2022 |
tctrills: Yes, and the countries we import from like Thailand and Brazil have something we don't have, massive wetlands Nigeria? To create a wetland we have to build a dam and create it artificially,and at the end of the day, it needs more resources to maintain it .Our natirial wetlands on a good day aren't even up to half of what Thailand and Brazil got |
Fulani Herdsmen Kill Three Persons In Kabo, Niger State / Senate To Receive 2nd Batch Of Ministerial List Today / Appeal Court Sacks Bauchi Deputy Speaker, Barade
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 58 |