Abi oooo

providencia:


God bless you for this

My take is the same govt will loot the money so nothing to write home about

ThatCEO:


Not an excuse, Tinubu could had submitted a supplementary budget.

In February, d NNPC CEO said landing cost is 315. How come we are paying over 500 now? What is your Tinubu doing about the robbery or he knows about it

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

Says who? @bolded

Skyehigher1:
I also support the subsidy removal because with tinubu remove it all the money will be channel to the right direction

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.

sherylbaky:
As if the will really divert the fund to benefit the masses. They are just fighting for their pockets.

Well, time would tell

it's for their own benefit. The removed it from diesel, kerosene and gas, yet we didn't see the effect.

Wrong timing,

GoodStrongDick:
No sane government removes fuel subsidy without proper and adequate planning.

Tinubu is a very big fool with vision for the country. The Man is so Brain dead that he copied Peter obi's policy. Unfortunately for him, obi said he'll build and fix up the refineries first before removing fuel subsidy. A vision that the drug lord lacks.

'E go favour me and my family" crew, I heard them and the Yollubas are buying fuel for #50 Naira. How true is this news?

finallybusy.... here's one of them

Just imagine .....people that av been deceiving us for how long
I doubt that

Paracetamol01:
Hardship will be experienced .. but in the long run things would get better....if only Nigerian politicians would be sincere in handling the subsidy funds

ShaqFu:
read the opening post I quoted.

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.

Worriedwife:
It is good. The problem is we do not trust the government to plough back this money into the betterment of the country. That is why we would rather have subsidy as the only thing the common man gains from Nigeria

👍🏿...You the only sensible person on this thread.

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

Cutting down the cost of governance is the way forward

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

Buddha3:


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.

so who is government paying this subsidy to, if nnpc are the only ones importing fuel?

GoodStrongDick:
No sane government removes fuel subsidy without proper and adequate planning.

Tinubu is a very big fool with vision for the country. The Man is so Brain dead that he copied Peter obi's policy. Unfortunately for him, obi said he'll build and fix up the refineries first before removing fuel subsidy. A vision that the drug lord lacks.

'E go favour me and my family" crew, I heard them and the Yollubas are buying fuel for #50 Naira. How true is this news?

When obi was governor. What did he build?

Cromagnon:

When obi was governor. What did he build?

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?

harmless011:
The problem is that there is no subsidy removal, they just increase the price of fuel.
This is the same template they have been using all this while.
Buhari did that in the past and nobody questioned him, so Tinubu is just following the template.
Before you can say that subsidy has been totally removed, there must be full deregulation.
NNPC is still the sole importer of PMS, so basically they still call the shot as per the selling price of fuel in Nigeria.
We can only solve the fuel issue when independent marketers are allowed to get the products from wherever they can find it, by so doing the government price control can then be broken.
We don't even know the landing cost of pms, what we know is whatever NNPC told us, but when others are allowed to bring in fuel then there will be competition. Only then can we know exactly the real price of fuel.
For now we are hoping the new admin will do the right thing, by fully deregulating the downstream petroleum sector.
As long as NNPC still solely decides the price of fuel, we are yet to solve the problem of that sector.

brother you are blessed but as usual, many nigerians who u expect that are educated are more than gullible

finallybusy:
This thread is a trap. It was set to expose the low literacy of Nairalanders. Lord knows ignorant opinions will flow like streams. People who have zero idea of comprehending write-ups will spew garbage in the comments section.

Godspeed as you wallow through idiotic vituperations.

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.

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:
Just imagine .....people that av been deceiving us for how long
I doubt that

Paracetamol01:
Hardship will be experienced .. but in the long run things would get better....if only Nigerian politicians would be sincere in handling the subsidy funds

ebenezary:
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

you are too much bro.

LagosG:
We urgently need to enact policies that will favour Nigerians in the next 200 years. If we continue on this selfish path, where will we be in 2223? If Nigerians are till queuing for petrol in 200 years, they will curse all of us who are alive today. They will not curse the presidents alone. They will curse all of us. It will be drastic but these harsh decisions must be made. When you think about it, even with subsidy, we still suffer fuel scarcity and increments in finished product from crude oil so it's better the removal is permanent so we can know where to focus next. I know the subsidy seems like the only thing the common man enjoys but we must remember the generations yet unborn. What will remain for them? If we continue like this we will not be different from present day Haiti in 200 years from now.
The current administration should make it an important task to get at least one other refinery back up and running before the first term is over. Giving Dangote a monopoly will never end well. It is shameful if we never see petrol queues in Venezuela, Saudi Arabia, Algeria, Iraq, Iran, Russia but you will see the same in Nigeria. It is very shameful.

We're the most resilient race on the planet. We will pull through. Nothing can and has ever held us back. I hope the subsidy funds are channeled into repairing our ailing refineries. It's like having a big gbola but paying some average sized dick to service your woman. E no make any sense at all.

Finally a sensible take. But the one wen you take end am shaaa...omoorrr. Make una dey respect this thing na.

Cornerstone2018:
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.

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

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.

OgbeniOptional:
Regardless of who is removing this subsidy, either Bubu or Bat. Subsidy just need to go. One guy for my area went into bunkering and shit and the guy is a billionaire. Imagine u stole it and govt still pay subsidy on stolen commodity. Procrastinating on this subsidy will only give the beneficiary more time to lobby people in Govt. Buari tried to remove it many times but lobbying thieves won’t let it be. Also, people should downsize their cars, it’s crazy how 1 person can own more than 3 cars in Nigeria. People with minimum wage have no business with cars if we want to be honest with each other. I only want minimum wage to be nothing less than #100,000, open borders fully cuz I don’t understand how imported rice is cheaper than homegrown after border closure, cbn should use daily black market rate for exchange rate too and watch how exchange rates will go back to near 2015 rate. Lastly, we Nigerians run, some of us are just plain wicked but as usual we always find someone else to blame. How can u hoard fuel u bought in old price from depot just to make x5 profit? Maybe it’s when people starts burning one or two stations hoarding fuel. Them go get sense. I just don’t like how some few people do evil and make the people blame govt. nonsense

Second sensible comment on the thread

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?

ShaqFu:
so who is government paying this subsidy to, if nnpc are the only ones importing fuel?

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.

Tonnierichy:

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.

I wish you the best of luck in your search for attention.

Only those next to the head will know how the head functions

Subsidy is a myth …

chima47:
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.

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?

victorVIC1:
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?

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.

Buddha3:


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.

Now it's very clear to me. Thanks for the insightful response