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Nairaland Forum / Nairaland / General / Politics / What Is Your Take On The Fuel Subsidy Removal? (14940 Views)
Mr Macaroni Reacts To The Fuel Scarcity Across The Country / Be Careful Of The Fuel, You Buy In Lagos / FG To Pay Nigerians Transport Allowance After Fuel Subsidy Removal- Zainab Ahmed (2) (3) (4)
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Re: What Is Your Take On The Fuel Subsidy Removal? by Showpatos: 11:58am On Jun 01, 2023 |
Abi oooo providencia: |
Re: What Is Your Take On The Fuel Subsidy Removal? by FireUpNow(m): 11:58am On Jun 01, 2023 |
My take is the same govt will loot the money so nothing to write home about |
Re: What Is Your Take On The Fuel Subsidy Removal? by Iwedunloye: 11:59am On Jun 01, 2023 |
ThatCEO: He never tell them to sell at any price, NNPC wanna play a smart one by increasing the price higher.They are aware their will be a negotiation on the price so they did it so government can compel them to reduce it a bit |
Re: What Is Your Take On The Fuel Subsidy Removal? by sherylbaky(f): 12:00pm On Jun 01, 2023 |
Says who? @bolded Skyehigher1: |
Re: What Is Your Take On The Fuel Subsidy Removal? by Cornerstone2018: 12:00pm On Jun 01, 2023 |
Funny enough subsidy will be removed, money will be channeled to politicians pockets. The fuel will likely get more n more expensive, light will not be available, while masses keep buying more fuel. 2 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by Evergreen4(m): 12:01pm On Jun 01, 2023 |
sherylbaky:it's for their own benefit. The removed it from diesel, kerosene and gas, yet we didn't see the effect. |
Re: What Is Your Take On The Fuel Subsidy Removal? by chukiz(m): 12:01pm On Jun 01, 2023 |
Wrong timing, |
Re: What Is Your Take On The Fuel Subsidy Removal? by LagosG: 12:03pm On Jun 01, 2023 |
GoodStrongDick:finallybusy.... here's one of them 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by Showpatos: 12:03pm On Jun 01, 2023 |
Just imagine .....people that av been deceiving us for how long I doubt that Paracetamol01: 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by Nobody: 12:04pm On Jun 01, 2023 |
ShaqFu: That initiative ended long ago, even before Buhari's tenure. There was a time independent oil companies were importing products alongside the NNPC. All you had to do was provide the import duty invoice which was monitored and approved by the Petroleum Pricing and regulatory bodies alongside the Petroleum ministry and the federal finance body, and once verified, Government will settle the subsidy claims for whatever you've imported so you could sell products the same prices as what was obtainable with NNPC. Overtime, sharp practices were noticed and gross corruption set in. Oil companies were colluding with government officials to import less, inflate subsidy claims and fleece the Federal government in the process. Even after that, these imported subsidised products were being moved to neighbouring countries by land and water so they could be sold for an even higher profit margin. So independent marketers were cut off from the importation chain and NNPC was saddled with the sole importation responsibility. 2 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by HateBigots: 12:04pm On Jun 01, 2023 |
Worriedwife: 👍🏿...You the only sensible person on this thread. |
Re: What Is Your Take On The Fuel Subsidy Removal? by ebenezary(m): 12:09pm On Jun 01, 2023 |
if subsidy is remove then, why are still regulating the price and how many time government will remove subsidy? then what is the benefit of the largest refinery in Nigeria and what is the gain for having crude oil in the first place |
Re: What Is Your Take On The Fuel Subsidy Removal? by Resnik(m): 12:10pm On Jun 01, 2023 |
Cutting down the cost of governance is the way forward |
Re: What Is Your Take On The Fuel Subsidy Removal? by Gggjhhj: 12:11pm On Jun 01, 2023 |
So they pay this much for subsidy and people still have to steal so much money, even snakes and monkey swallowing money, this country will soon be comatose. I just pity the next generation |
Re: What Is Your Take On The Fuel Subsidy Removal? by ShaqFu: 12:11pm On Jun 01, 2023 |
Buddha3:so who is government paying this subsidy to, if nnpc are the only ones importing fuel? |
Re: What Is Your Take On The Fuel Subsidy Removal? by Cromagnon: 12:13pm On Jun 01, 2023 |
GoodStrongDick:When obi was governor. What did he build? 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by GoodStrongDick: 12:15pm On Jun 01, 2023 |
Cromagnon: Travel to Anambra state yourself to verify or you can simply use Google to verify. No quote me again. 'E go favour me and my family" crew, how much you dey buy fuel now? |
Re: What Is Your Take On The Fuel Subsidy Removal? by lexy2014: 12:16pm On Jun 01, 2023 |
harmless011: brother you are blessed but as usual, many nigerians who u expect that are educated are more than gullible 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by Tonnierichy(m): 12:17pm On Jun 01, 2023 |
finallybusy:Then educate us. What have you achieved with all you've said now? People are here penning down their opinions, and some others are here to learn from it. If you know so much about the topic, why not share your knowledge instead of trying to bite off your tongue. 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by sherylbaky(f): 12:17pm On Jun 01, 2023 |
I remember when Buhari started showing us pepper, this was exactly what majority were saying. It has started again, I don't know how long we would continue to be like this. Knowing fully well these people only care about themselves Showpatos: Paracetamol01: 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by lexy2014: 12:17pm On Jun 01, 2023 |
ebenezary: you are too much bro. |
Re: What Is Your Take On The Fuel Subsidy Removal? by Tonnierichy(m): 12:20pm On Jun 01, 2023 |
LagosG:Finally a sensible take. But the one wen you take end am shaaa...omoorrr. Make una dey respect this thing na. |
Re: What Is Your Take On The Fuel Subsidy Removal? by lexy2014: 12:21pm On Jun 01, 2023 |
Cornerstone2018: governments in nigeria have been "removing" subsidy forever but they all cant give account on how they managed the subsidy. something as basic as what percentage of a litre of fuel they were paying as subsidy isnt available 2 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by chima47(m): 12:22pm On Jun 01, 2023 |
I support the removal of subsidy, ( if there was a subsidy in the first place) in facts it's long over due, but the process of this removal is a careless and reckless one. The masses was never considered, nothing to cushion the effect of the subsidy. Again In his quest to be president Tinubu spent money he can't recover even if he is allow to be president for 15 years, if he depends only on his legitimate income, so he needs to begin now to identify areas he can loot from immediately. |
Re: What Is Your Take On The Fuel Subsidy Removal? by Tonnierichy(m): 12:22pm On Jun 01, 2023 |
OgbeniOptional:Second sensible comment on the thread |
Re: What Is Your Take On The Fuel Subsidy Removal? by victorVIC1(m): 12:23pm On Jun 01, 2023 |
I was surprised to see in a report earlier this morning that the Nigerian government also subsidize for some other African countries. Could someone please verify is this information is legit? |
Re: What Is Your Take On The Fuel Subsidy Removal? by Nobody: 12:24pm On Jun 01, 2023 |
ShaqFu: The NNPC. In economics, there's the concept of "balance sheet deficits" and "carry forward debts". Those are not the actual terms but I'm trying to simplify this conversation. When Jonathan wanted to remove subsidy, daily consumption of fuel in Nigeria stood between 25 to 35million liters (if my memory serves me well). Fast forward to today, daily consumption is claimed to be well over 60million liters. Translation? Nigeria is paying double the subsidy claims today than it was doing in 2012. Hence, NNPC is paying more as means of subsidy during importation. Conclusion? Federal Government has to repay everything NNPC always claim to spend on subsidising importation. With the free fall of our economy since 2016, coupled with Oil theft and pipeline vandalism, FG and NNPC have made less from Oil sales, while subsidy claims have kept increasing at the same time, so at some point, even the NNPC was unable to pay subsidy from her own pockets while awaiting repayment from the FG. So they balance their books with deficits, FG has no money to repay, FG has to go borrowing money to repay NNPC and before that happens, NNPC must have already accumulated a 2 or 3months subsidy claim. I have not even factored in corruption and theft by NNPC staff and government officials. See my brother, this issue is a giant web of corruption, thievery and deliberate sabotage of the commonwealth of the Nigerian people. It's a conversation I can detail for you in person but cannot type down, cause I have a fine knowledge of it, having worked in the oil sector at some point. 1 Like 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by finallybusy: 12:25pm On Jun 01, 2023 |
Tonnierichy:I wish you the best of luck in your search for attention. |
Re: What Is Your Take On The Fuel Subsidy Removal? by tonididdy(m): 12:28pm On Jun 01, 2023 |
Only those next to the head will know how the head functions Subsidy is a myth … |
Re: What Is Your Take On The Fuel Subsidy Removal? by tonididdy(m): 12:30pm On Jun 01, 2023 |
chima47: Why do you support the removal of subsidy? Is it because you think an imaginary money will make your life better than it already is? Or you trust the govt to use the money instead for insfrastructures? Why exactly are you in support? |
Re: What Is Your Take On The Fuel Subsidy Removal? by Nobody: 12:30pm On Jun 01, 2023 |
victorVIC1: What this means is simply the fact that independent marketers buy subsidised fuel from NNPC and smuggle it to neighbouring African countries. When fuel was 185 in Nigeria, it was the francs equivalent of 350 or 400 naira in Cameroon. So I can buy a 30,000 liters tanker of fuel as a rich man in a Nigerian depot and go sell it for over twice that amount in Cameroon, come home and be smiling with my millions. That's what that statement means. 2 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by victorVIC1(m): 12:31pm On Jun 01, 2023 |
Buddha3: Now it's very clear to me. Thanks for the insightful response 1 Like |
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