majekdom2:
oga , if the salaries of these senators and all can be slashed , if they see these cabals go to jail. I tell you Nigeria will embrace this subsidy removal full time.

Am sure the Finance Ministry in conjunction with the Budget Office will work out an amicable solution to the high recurrent expenditure in next year's budget.

sevule:
I have ONE question to ask our incredibly CORRUPT government. What has SURE-P done with the funds that accrued from the partial lifting of fuel subsidy that was done early this year??

The answer is NOTHING!!!!!! Our government is so corrupt that they can not even account for the funds that was received from lifting of subsidy. I still remember the PTF which was setup when the then military government increased fuel prices. I actually saw roads that were built by PTF and my school's labs were renovated by PTF! And to think that this was during the military era which was supposedly corrupt.

I can say that the JONATHAN administration is without doubt THE MOST CORRUPT government Nigeria has ever had!!!

The sad truth is that subsidy should actually be removed but the sadder fact is that even if it is totally removed today, the money saved would enter the pockets of corrupt government officials

Finally where are all the people that are quick to say GEJ till 2019 How come none of them are on this thread??

What is this one saying?

Whynotthetruth:



That's the truth...But how do we go from here... First, inasmuch as government is directly regulating the sector via subsidy and others, private investors will never come in...Till we remove subsidy and government allows market mechanism to regulate the sector, refineries from private investors won't come in...Have you researched why all the private companies licensed since over 5years now have refused to build any refinery? take a cursory look at the PIB and you see it is private sector driven...once they remove subsidy and pass that bill, believe me that sector will open up and in the long run, the common man will benefit more... though in the interim, we may scream but it will only be short lived...and we be the better off.......SUBSIDY is taking from the NEEDY to pay the GREEDY...

why don't they pass the bill first before removal of subsidy. Bro , it is not because the government has got a say in this industry , it is because of some of laws in the PIB will not favor international investment. You can read up on this. Investors are afraid because they do not know what the future will be if the PIb is passed not because the sector is controlled by the government. After all, I can't just give a price for my products if I have not even built a refinery. The main issue is passage of this Bill first to encourage investors.

Collynzo9:

What exactly is your point? Is the crude oil they bought at a higher price supposed to last forever? What have they been selling to their customers then? The drop in Prices of petroleum products in US and other places wouldn't have come to effect if the marketers had not exhausted their previous stock bought at the former price.
By the way, this cut is subsidy is meant to take effect from next year, would we still be buying at a high price by then? Assuming crude oil prices do not suddenly go up.

these countries you mentioning don't export crude , rather they buy and export refined products.US is a leading producer of crude , they rank above nigeria , yet they still buy our crude. This is to tell you why there is a fall in their product price.The consumption should be double or Tripple of nigeria.am only correcting that notion that import has got to fall.period.

major466:

Am sure the Finance Ministry in conjunction with the Budget Office will work out an amicable solution to the high recurrent expenditure in next year's budget.

oh , I sense you are in the govt. that's the usual defense. Once this is done transparently, I dont mean paper talk.we can embrace subsidy removal. Just as amosu slashed salaries and we saw the projects.

majekdom2:
these countries you mentioning don't export crude , rather they buy and export refined products.US is a leading producer of crude , they rank above nigeria , yet they still buy our crude. This is to tell you why there is a fall in their product price.The consumption should be double or Tripple of nigeria.am only correcting that notion that import has got to fall.period.

It is a fact and not a notion that the price of importing refined petroleum products has to fall along with the price of crude oil. It is basic.
The price of the refined products is a function of the price the crude oil was bought.

majekdom2:
why don't they pass the bill first before removal of subsidy. Bro , it is not because the government has got a say in this industry , it is because of some of laws in the PIB will not favor international investment. You can read up on this. Investors are afraid because they do not know what the future will be if the PIb is passed not because the sector is controlled by the government. After all, I can't just give a price for my products if I have not even built a refinery. The main issue is passage of this Bill first to encourage investors.

Bro, you seem confused here...how can the investor be confused in a free market economy...where prices are determined by market mechanism (forces of demand & supply)...investor is waiting to be sure the PIB is passed before investing...where did you read that your postulation....how do government get funds to run governance if you want them to wait till PIB is passed before removing subsidy? what's the advantage of not removing it now plz?

bushdoc9919:
Was expected

Thing is, we are wasting money on a bottomless pit called Fuel subsidy. It has been subject to a lot of abuse and stealing.

I guess the money saved can now be used for Power, Railways, and education as well as health.

Well Nigerians.....looks like the era of cheap fuel is over. And this is one PDP policy that I won't be criticizing......because, unfortunately, it is the right thing to do.

Modified at 7.58: We must spend the saved money from the removal of fuel subsidy on improving power....so that we can no longer be dependent on oil....and instead...be doing industrial development, industrial development!

And no longer have a dutch diseased economy....the true problem of Nigeria..

what will happen if u remove it? this is one project every nigerian is benefiting from. we run the most expensive democracy in the world yet no one is talking about that. we have the most corrupt idiots in power and no one is going to jail. even if they remove it, we will not die but nothing will still improve here. will the money be enough for the first family to feed? a president that eats N1B worth of food annually can never take nigeria anywhere. it is just a business of making more money for a future that may not come for these politicians. very soon, God will destroy this fuel and we will have peace of mind.

majekdom2:
he is the regular folk that needs slaps to bring his senses back.

you're the one that needs a slap, he is on point.

What fuel subsidy? If the price of crude is falling then the price of fuel and diesel should fall as well. Why aren't we seeing a fall in the price of diesel which is fully deregulated? Secondly, we should also see a fall in the cost of fuel, assuming there is a subsidy then we should hear an announcement that the government will be spending less on subsidy than before due to the fall in prices. What we shouldn't be hearing is an increase in fuel prices due to the removal of subsidy!!!! Simple economics

idupaul:
I voted him in 2011 but in 2015 he just has to go .. Please Jonathan Go

sharp fish

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

you really reason like europeans. Our major problem in Nigeria is illitracy

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

Is like u re part of d govt, dat is y u re talking unreasonably. what has gej done with d 2012 cut of subsidy? it ll surely inflate d prices of goods & services, dat is what Nigerians re afraid of.

Someone should help me explain this thing.

When this "crude oil price" thing goes to our favour, why don't we see or enjoy some kind of benefit? When it goes against us, we start preparing for issues.

Kai! No wonder bible say make we no trust man. I remember 2011 elections. I voted our dear president. And i was ready to defend it (i remember how many of us, many old and young people, ate breakfast and lunch in the place we voted just to wait for the ballots to be counted).

The only benefit im seeing of this government is on TV adverts, economic statistics and probably freedom of speech. Is that all about democratic government? For almost 15 years now, we are still saying the same thing!

What happened to phch privatisation. What happened to 20billion dollars that is missing

s4short:



you're the one that needs a slap, he is on point.

the truth is in the coming months there is supposed to be a fall in the price of fuel. The government are just trying to cover up fraud.

[/b]

Whynotthetruth:



Bro, you seem confused here...how can the investor be confused in a free market economy...where prices are determined by market mechanism (forces of demand & supply)...[b]investor is waiting to be sure the PIB is passed before investing...where did you read that your postulation....how do government get funds to run governance if you want them to wait till PIB is passed before removing subsidy? what's the advantage of not removing it now plz?

@ bolded , read this www.eia.gov/countries/cab.cfm?fips=NI. www.proshareng.com/news/9488 . How do you mean get funds ? What's the aim of removing subsidy ? How has it be run before when okonjo came out to say we are not broke. You the one confused. The price of fuel is meant to go down in the coming months as it is in other countries already. In Kenya it is down .this subsidy shit is just fraud.

Subsidy should be completely removed. The masses aren't seeing the benefits. It is a conduit for enriching the rich. So enough of it.

Collynzo9:

It is a fact and not a notion that the price of importing refined petroleum products has to fall along with the price of crude oil. It is basic.
The price of the refined products is a function of the price the crude oil was bought.

yea, it will come down in coming months. Like you said it is a function of what crude was bought. The price of the crude refined for the current product is what should be checked.... And this has been my point. You would not want to sell to make loss. In Kenya ,the prices are down already. Perhaps , the reverse was their case

praise God baba clueless has dropped the bombshell again..atleast when we have an increase in fuel price those morons saying gej till year 3000 wont be able to afford fuel to fill their I pass my Neigbour generator to charge their china phones and yarn nonsense..

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

Can you tell me what clueless means pls? You are as clueless as your paymaster. Before d last subsidy was removed, i watched Ngozi iwela live on TV saying everything ll be fine after d subsidy must have been removed but what did Nigerians got in return from these animals are nothing but youth unemployment, poverty, terrorism,nepotism, massive corruption, lawlessness, tribal and religious division from all these animals in human skins.

majekdom2:
world economics don't sound sensible. They will be selling higher so as not to make losses. You dont have an option than to buy because you don't have the facility to refine because you need it direly . You don't have an option than to sell your crud produced also because you need to generate income. You see the problem nigeria is facing. We have to sell crude at a lower price , and import higher simply because we don't have maximum means to refine here. So many countries produce crude , if you not selling the will buy from others. And if you are not buying their refined products their own citizens will buy. The refined product is one that has got better usage.

Oga how many oil producing nations import refined products? Answer o!

I'm not a critic of this present administration before, but now that the hand written is fully inscribed on the wall I would be. GEJ is a joker, an unscrupulous leader, greedy man, insincere man, a deceitful country man etc. Must masses bear the consequences of the fall in the price of oil? What happened to the promised he made that all gov. Officials salary would be reduced by 25cent?. Oh!! this man remains clueless as he has been. Who would save Nigeria from this mess?I see no one!! What a pity?

Here we go,,,,,,,b prepared!

We r not saying dey shd not cut d subsidy, but wat ve dey achieved with d one dey removed in 2012, lets see d impart of dat before telling us cut d subsidy for some set of pple to embezzle again

major466:

That's why it's important to follow developments going on around the country. Your questions clearly suggest that you are not fully aware of going ons in the energy sector.
I can't tell you whether the people you mentioned are charged to court. You can do the investigation yourself.

Please enlighten me on who then has been charged to court, and the whereabouts of the "recovered" subsidy funds

I love GEJ as a person , but is leadership style i dislike . Sure P is sure failure , Naira now is around #170 to a dollar , new traffic on power by January . I HOPE BY 30th May 2015 he was a president .

Sebi the all wise all knowing okonjo iweala said austerity measures will not not affect the poor masses. Story for the marines, lol. Second base jare.

#RemoveRoundaboutonLekkiRoad

We Are Waiting!

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

I failed to grasp the logic behind your comments. Are you saying the only way I can prevent thieves from stealing my family's income is to reduce the amount of money I spend in maintaining my family? I shouldn't bother catching the thieves at all?

That's the problem I have with this country. The government steal instead of developing other sectors of the economy,the fuel price fall because of their inefficiencies,the people are the ones to pay for their failure,later some people would be like GEJ 2015. When fuel subsidy is removed are the GEJ supporters excluded from paying high price,maybe in your dreams... 2015 it'd be pay back time,by fire by force you GEJ is goin back to your OTUOKE...