“@iaindabawa: Diesel is now N625
@Gidi_Traffic

https://twitter.com/Gidi_Traffic/status/1501117677796044804

How many companies can run on diesel and still pay salary conveniently. The overhead is unimaginable.

This government is evil

iwaeda:
How many companies can run on diesel and still pay salary conveniently. The overhead is unimaginable.

This government is evil

This is beyond the government o.. This is the direct effect of the Russia-ukraine war. Absolutely nothing government can do in this case.

Yusufnairaland2:

This is beyond the government o.. This is the direct effect of the Russia-ukraine war. Absolutely nothing government can do in this case.

If our refineries are running as they promised

It is easy to make 1million naira in Buhari regime but easier to loose 1 million naira because the value of 1 million naira in Buhari's regime is equivalent to 250k before 2015.
Just imagine buying diesel for 625 naira.

iwaeda:
How many companies can run on diesel and still pay salary conveniently. The overhead is unimaginable.

This government is evil

Diesel (and kerosene) has been deregulated since 2013. Nothing to do with Buhari, unless you want him to go into debt paying another subsidy for diesel...then we all will know he is truly and really incompetent.

I know, Buhari is bad, but this has nothing to do with the government. Just normal rise of prices of refined product when the raw material price goes up ($127 as at this am, per barrel)

Kingpin1000:
It is easy to make 1million naira in Buhari regime but easier to loose 1 million naira because the value of 1 million naira in Buhari's regime is equivalent to 250k before 2015.

Because until 2014, we had high oil prices above 90 dollars for a continued 2-3 years, meanwhile, Buhari has had oil prices below $80 and sometimes as low as $30 until 4 weeks ago.

If we want a strong currency, we have to diversify our economy and become a strong producer of exportable finished stuff...which is where Buhari has failed.

When that Dangote Refinery dey start operation? I hope it brings an end to things like these .

iwaeda:

If our refineries are running as they promised

If you guys want good refineries, the answer has been there since 1993....remove subsidies and allow the refineries run at a profit.

Yet, when government wants to remove subsidy completely, even pro-government supporters are up in arms, whatever the party in charge. So, governments have been forced to keep something that does not work.

backbencher:


Because until 2014, we had high oil prices above 90 dollars for a continued 2-3 years, meanwhile, Buhari has had oil prices below $80 and sometimes as low as $30 until 4 weeks ago.

If we want a strong currency, we have to diversify our economy and become a strong producer of exportable finished stuff...which is where Buhari has failed.

Don't tell me Rubbish about oil prices. When the prices of oil dropped fuel prices was supposed to drop, but your useless excuse was that oil prices were low. We are having record rise in oil prices you guys are still saying fuel prices get high because of high oil prices.
Una no dey tire for excuse?
Make APC go sidon for gutter. You have nothing to offer in 2023.
You are all about excuses.
Nigeria can never diversify so far as there is still oil in the land.
Apart from Oil what gives Qatar, Saudi Arabia money?
Monkey APC govt.

callme9mm:
When that Dangote Refinery dey start operation? I hope it brings an end to things like these .

Dangote needs to pay staff salaries, pay maintenance costs, pay taxes upon taxes, pay insurance, pay upgrade and expansion costs, and also pay for the crude he is going to refine.

And let's not forget he took 6-10 billion dollars in loans to build the refinery, loans that must be paid back

Fuel from that refinery will not cost N40 or N162 or even 200 naira. It would cost maybe (my opinion) N300 and above. So that it can earn profit to run well.....or else.

Same for the 5-6 other private refinery under construction.

Force it to sell cheap fuel...then you will end up like Venezuela's refinery...went from refining 900000 barrels per day to 100000 barrels per day because their government said they must sell fuel below N40 per liter equivalent.

backbencher:


Diesel (and kerosene) has been deregulated since 2013. Nothing to do with Buhari, unless you want him to go into debt paying another subsidy for diesel...then we all will know he is truly and really incompetent.

I know, Buhari is bad, but this has nothing to do with the government. Just normal rise of prices of refined product when the raw material price goes up ($127 as at this am, per barrel)

Mr. Voltron, APC promised one refinery per year in 2015, making atleast 4 now, but all we have is zero

Kingpin1000:

Don't tell me Rubbish about oil prices

Look, Buhari is a bad leader, and I accept that we all have to have voted him out, and I have not voted for him in a day, but the truth is, our currency is dependent on the price of oil. No two ways about that. We can lie, but the truth is, we use US dollars instead of Saudi riyals because one is dependent on oil prices and if oil crashes, the currency crashes.

The only way we can escape that is by becoming more and more productive....so that oil price would no longer matter to our economy. Has Buhari done that? No.

iwaeda:


Mr. Voltron, APC promised one refinery per year in 2015, making atleast 4 now, but all we have is zero

GEJ promised, and even signed deal for 3 refineries with China, yet nothing happened...why?

Because subsidy makes any deal for those refineries unprofitable. GEJ tried to remove subsidy, see what happened. Same thing for any promise APC makes regarding refineries. They need foreign partners and investors, and una go invest when government is still setting prices of petrol? (And APC themselves love subsidy too too much...even now we are going to be stiffed with a loan of 3 trillion for subsidies because rising oil prices)

At the end, any new refinery will lose money, and end up like our 4 refineries for the same reason.....no profit, crap service.

Dangote that is building refinery , he got loans because if he does not meet up with payment, the banks take over his lucrative assets.

Note that China signed a similar deal with Niger and their refinery is up and running, because in Niger fuel costs N350 per liter. Profits made help fund and keep the deal running. Nathing like subsidy.

iwaeda:
How many companies can run on diesel and still pay salary conveniently. The overhead is unimaginable.

This government is evil

I doubt you know diesel and kerosene have been deregulated under Goodluck.

Parachoko:
I doubt you know diesel and kerosene have been deregulated under Goodluck.

I know more than you know, but if our refineries are working,these are bye products from oil

backbencher:


GEJ promised, and even signed deal for 3 refineries with China, yet nothing happened...why?

Because subsidy makes any deal for those refineries unprofitable. GEJ tried to remove subsidy, see what happened. Same thing for any promise APC makes regarding refineries. They need foreign partners and investors, and una go invest when government is still setting prices of petrol? (And APC themselves love subsidy too too much...even now we are going to be stiffed with a loan of 3 trillion for subsidies because rising oil prices)

At the end, any new refinery will lose money, and end up like our 4 refineries for the same reason.....no profit, crap service.

Dangote that is building refinery , he got loans because if he does not meet up with payment, the banks take over his lucrative assets.

Note that China signed a similar deal with Niger and their refinery is up and running, because in Niger fuel costs N350 per liter. Profits made help fund and keep the deal running. Nathing like subsidy.

When Tinubu, Soyinka, Pastor Bakare, Buhari gathered you at Ojota and Abuja, were you not dancing palongo to cry against subsidy removal

iwaeda:


When Tinubu, Soyinka, Pastor Bakare, Buhari gathered you at Ojota and Abuja, were you not dancing palongo to cry against subsidy removal

For the record, it was people like NOI and SLS under GEJ that convinced me of how bad subsidy was.

So, why should I support subsidy retention. GEJ's government ran a lot of adverts to tell people how damaging subsidy was, and I was convinced by those adverts. Hence my opposition to subsidy since 2012.

So, stop laughing. As far as I know, subsidy does not work, and all those protesting against it were doing so because they could not see long term benefits.

Most Nigerians, even GEJ and Buhari supporters back subsidy. Even on this site, most people back subsidy. Try arguing for subsidy removal, and you would get abuse all day long.

backbencher:


For the record, it was people like NOI and SLS under GEJ that convinced me of how bad subsidy was.

So, why should I support subsidy retention. GEJ's government ran a lot of adverts to tell people how damaging subsidy was, and I was convinced by those adverts. Hence my opposition to subsidy since 2012.

So, stop laughing. As far as I know, subsidy does not work, and all those protesting against it were doing so because they could not see long term benefits.

Most Nigerians, even GEJ and Buhari supporters back subsidy. Even on this site, most people back subsidy. Try arguing for subsidy removal, and you would get abuse all day long.

That means you didn't go to Ojota

iwaeda:


That means you didn't go to Ojota

I don't even live in Lagos anyways....plus when one has woken up to why subsidy is bad,why support such a march?

By the way


Do you think we should keep paying subsides then? Yes or no.?

backbencher:


I don't even live in Lagos anyways....plus when one has woken up to why subsidy is bad,why support such a march?

By the way


Do you think we should keep paying subsides then? Yes or no.?

There is no subsidy on Deisel

SarkinYarki:


There is no subsidy on Deisel

I know...I did say so up thread. I meant subsides on petrol....and also by extension, should we reinstate subsides on diesel?

That's the point of my question to iwaeda.

At the end, the price of refined products is really beyond PDP and APC. It's all about letting the petroleum sector run profitably. By now, if subsidy had gone since 2012, even 1993, we won't be here crying about bad fuel, or scarce fuel.

backbencher:


GEJ promised, and even signed deal for 3 refineries with China, yet nothing happened...why?

Because subsidy makes any deal for those refineries unprofitable. GEJ tried to remove subsidy, see what happened. Same thing for any promise APC makes regarding refineries. They need foreign partners and investors, and una go invest when government is still setting prices of petrol? (And APC themselves love subsidy too too much...even now we are going to be stiffed with a loan of 3 trillion for subsidies because rising oil prices)

At the end, any new refinery will lose money, and end up like our 4 refineries for the same reason.....no profit, crap service.

Dangote that is building refinery , he got loans because if he does not meet up with payment, the banks take over his lucrative assets.

Note that China signed a similar deal with Niger and their refinery is up and running, because in Niger fuel costs N350 per liter. Profits made help fund and keep the deal running. Nathing like subsidy.

Buhari did not believe in subsidy. He made it clear that anybody paying subsidy is a scamer. So I don't think bubu is paying subsidy unless you want to call him a scamer.

a4cube:
Buhari did not believe in subsidy. He made it clear that anybody paying subsidy is a scamer. So I don't think bubu is paying subsidy unless you want to call him a scamer.

1.Buhari by saying subsidy does not exist, showed that he did not understand how subsidy worked (a reason why some of us did not vote for him in 2015, and 19).

2.If there was no subsidy, NNPC won't be budgeting for it, and fuel would by now be costing N333 naira

There is a subsidy, and anyone telling you otherwise knoweth not what he or she talketh about....and yes, APC and PDP are scams to me anyway.

Buhari that was saying no subsidy, now he has had his eyes opened well well, once he got on the hot seat. And he loves them too much which is why he is ready to force our economy into deficit to pay for the subsidy.

backbencher:


Diesel (and kerosene) has been deregulated since 2013. Nothing to do with Buhari, unless you want him to go into debt paying another subsidy for diesel...then we all will know he is truly and really incompetent.

I know, Buhari is bad, but this has nothing to do with the government. Just normal rise of prices of refined product when the raw material price goes up ($127 as at this am, per barrel)

if the refineries he allocated billions for since 2015 were working, would we be talking about this now ? If he kept his promise of building one refinery a year, would we be talking about this now ? If he followed up on the modular refineries Osinbajo promised Niger Delta oil bunkers in 2016/17 for them to stop illegal refining, will we be talking about this today ? It might have happened but it'll definitely not be this bad. Prepare for worse because this is just the tip of the iceberg. Fulani friendly guys have stopped thousands of farmers from working in the North, borders are still unofficially locked down south and supply chain disruptions due to this senseless war coupled with an inept leadership at home is a recipe for interesting times

backbencher:


Because until 2014, we had high oil prices above 90 dollars for a continued 2-3 years, meanwhile, Buhari has had oil prices below $80 and sometimes as low as $30 until 4 weeks ago.

If we want a strong currency, we have to diversify our economy and become a strong producer of exportable finished stuff...which is where Buhari has failed.

But Buhari is selling oils at over $120 per litre. What has he done with ones he has sold so far?? He promised to rehabilitate our refineries for 7 years now no solution. Don't defend the indefensible!!!?!!

talktimi:
if the refineries he allocated billions for since 2015 were working, would we be talking about this now ? If he kept his promise of building one refinery a year, would we be talking about this now ? If he followed up on the modular refineries Osinbajo promised Niger Delta oil bunkers in 2016/17 for them to stop illegal refining, will we be talking about this today ? It might have happened but it'll definitely not be this bad. Prepare for worse because this is just the tip of the iceberg. Fulani friendly guys have stopped thousands of farmers from working in the North, borders are still unofficially locked down south and supply chain disruptions due to this senseless war coupled with an inept leadership at home is a recipe for interesting times

If you want a refinery, then you have to guarantee that it would sell fuel at a profit.

We don't have refineries because we are running them at a loss, and we use the money we would have paid for new refineries to pay for subsidy

And at the end, trying to remove subsidy always means protests. So we keep on sinking billons into importing fuel because we want cheap fuel.

Subsidy breeds corruption and sabotage, which is why despite billions of naira, the refinereis are not working...plus they need far far more than that anyway to work. And that can only come if NNPC is allowed to sell fuel at a profit...so that we can repair and build new refineries at no cost to the treasury.

And yes, APC has failed...in security, and so on. And God knows i WISH Nigerians woke up.

a4cube:
[s]Buhari did not believe in subsidy. He made it clear that anybody paying subsidy is a scamer. So I don't think bubu is paying subsidy unless you want to call him a scamer[/s].

the juju they used on you people is very strong I swear. Not only is Nigeria still making subsidy payments on petrol but the payments astronomically increased at the inception of darling bubu's government. When we talked, you people called us 5% and wailing wailers

ChiefS:

But Buhari is selling oils at over $120 per litre

for about 1-2 weeks. Oil was below 80 dollars 7 weeks ago. Benefit, if it comes, won't come

Plus, we have to pay the debts we incurred when oil prices crashed...oil was below 75 dollars for most of 2014-5 weeks ago. And since our revenue is from oil, and since APC refused to diverisify, rice pyramids nothwisthanding, we incurred a lot of debt.

And as this quote puts it

For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty

2004 article

Even if oil prices go up...we have to

1.Pay our debts

2.Pay for subsidy...and at a much higher price than we are doing now...like right now, we are spending N10 billion daily to keep fuel at N163 per liter. N10 billion. And we need more than N3 trillion.

And that means that if we want things to improve, BHIHARU MUST DIVERSIFY THIS NIGERIAN ECONOMY.


.

What has he done with ones he has sold so far?? He promised to rehabilitate our refineries for 7 years now no solution. Don't defend the indefensible!!!?!!

Like your party promised the same for the refineries from 2000-15?

The thing is, until subsidy is removed and fuel is allowed to be sold at market prices, we will never see good refineries, and the subsidy monster will eat and eat our money, and the corruption will do the rest.

So, ask Buhari to face the reality. I have woken to the reality for 10 years. Don't blame me. I'm not an APC supporter anyway, or a PDP supporter.

backbencher:


If you guys want good refineries, the answer has been there since 1993....remove subsidies and allow the refineries run at a profit.

Yet, when government wants to remove subsidy completely, even pro-government supporters are up in arms, whatever the party in charge. So, governments have been forced to keep something that does not work.

did this your evil government protested against it during Jonathan government?

Hi Backbencher! I'd like to engage in some cogent discuss with you
Give me a message in +2347025204411.
Thanks.

backbencher:


for about 1-2 weeks. Oil was below 80 dollars 7 weeks ago. Benefit, if it comes, won't come

Plus, we have to pay the debts we incurred when oil prices crashed...oil was below 75 dollars for most of 2014-5 weeks ago. And since our revenue is from oil, and since APC refused to diverisify, rice pyramids nothwisthanding, we incurred a lot of debt.

And as this quote puts it



2004 article

Even if oil prices go up...we have to

1.Pay our debts

2.Pay for subsidy...and at a much higher price than we are doing now...like right now, we are spending N10 billion daily to keep fuel at N163 per liter. N10 billion. And we need more than N3 trillion.

And that means that if we want things to improve, BHIHARU MUST DIVERSIFY THIS NIGERIAN ECONOMY.


.

Like your party promised the same for the refineries from 2000-15?

The thing is, until subsidy is removed and fuel is allowed to be sold at market prices, we will never see good refineries, and the subsidy monster will eat and eat our money, and the corruption will do the rest.

So, ask Buhari to face the reality. I have woken to the reality for 10 years. Don't blame me. I'm not an APC supporter anyway, or a PDP supporter.