₦airaland Forum

PassingShot:
He doesn't need to come to your house for you to know his plan. He has said it that all his major plans will be discussed with stakeholders before going ahead with them.

Btw, I was grown enough when GMB ruled.

Kingspin:
Some part of Nigeria are fools. Now u remeber to support to remove fuel subsidy. The same way they rejected the national confab. Am have the feelings that they enemies of Nigeria hated GEJ for been the first leader to do good. A fool when Jonathan is in power is a fool forever. Untill we tells ourselves the real truth in this country, Buhari cannot change Nigeria. Good morning Fools of Nigeria.

Beremx:
How much will a litre of fuel be sold for then?

I cannot be against the removal of fuel subsidy in 2012 and be in favour of it in 2015. That's sheer hypocrisy.

Wildrage:
Then you must remember how we were all jubilant the day he was unceremoniously removed like a troubling acne. I thought this doe-eyed crush on the taciturn tyrant, religious bigots were from those u didn't live in that era

lexy2014:
I started hearing about fuel subsidy from d IBB regime although there had been fuel price increase as far back as d gowon regime. B4 1985, nigeria was self sufficient in terms refining petroleum products. During IBB era, a new means of making money was devised,removing FUEL SUBSIDY under d guise of SAP. By denying d refineries periodic maintenance, production dropped. This coupled with increasing demand 4 petroleum products, d govt at d time resorted 2 importation 2 augment local production. This obnoxious policy was inherited by successive govts cos of how "lucrative" it was. What our govts have done since then is 2 adjust price of products thru PPPRA in d name of DEREGULATION when in actual fact they are REGULATING. With deregulation, govt hands off fixing d price of petroleum products 4 operators and then licenses investors both local and foreign 2 refine and market. With this, products will b available at market price not PPPRA price. By-products especially cooking gas will b in abundance since its a "waste" producers will like 2 cash in on. Just like in telcoms were price of sim crashed from N35,000 2 N100 with beg, petroleum products will b like pure water. This is how 2 end fuel subsidy fraud. GEJ missed it

Datanet:
The subsidy payments cannot be removed just like that. Prices of fuel would go up to around N150. That would mean increased food, transportation etc. The NLC would request for increased minimum wage. Basically Nigerians will suffer. The Governemtn should do its job and control and monitor subsidy payments. It should review products actually imported and pay for the difference btw landing cost and actual selling price in the market. The Governement cannot and should not pass its responsibility on its people. It should do its job.

Beremx:
How much will a litre of fuel be sold for then?

I cannot be against the removal of fuel subsidy in 2012 and be in favour of it in 2015. That's sheer hypocrisy.

MosquitoREBIRTH:
Oga, was there APC in 2012? For your info, the protest was mainly for the wrong timing of the removal. How will you instil sufferings on Nigerians on the 1st day of the year without prior notice and you expect people to be happy?

dearpreye:
Hian! Who hacked into Berem's account? This is a rare deviation from her usually hypocritical self!

Beremx:
kindly Shut up! I knew you were gonna quote me and you just did.

Beremx:
How much will a litre of fuel be sold for then?

I cannot be against the removal of fuel subsidy in 2012 and be in favour of it in 2015. That's sheer hypocrisy.

Beremx:
How much will a litre of fuel be sold for then?

I cannot be against the removal of fuel subsidy in 2012 and be in favour of it in 2015. That's sheer hypocrisy.

PassingShot:
To start with, GEJ failed woefully in the way and manner he tried to remove the subsidy (if there really was).

You don't wake up one morning to announce such removal and increase in pump price without sensitizing the nation; without discussing with major stakeholders.

And the partial removal that he did, what did we get in returns?

The SURE-P program, as has been revealed just last week that the employee figure was inflated from 12k to 35k, is another evidence of the scam.

The buses that were promised, where are they today? The refineries, where are they?

Bottom line:
1. I believe there was no true subsidy in the first instance. What we had was an imaginary subsidy.

2. If there truly was subsidy, GEJ could have handled the removal in a more responsible manner than just announcing through the radio, on January 1st 2012, that subsidy was removed. No where in the whole world will such action go unchallenged. He needed to have discussed it with major stakeholders the need to remove subsidy. IBB, Abacha and even OBJ removed some subsidy and we witnessed how they handled it.

3. Nigerians, by rejecting the subsidy, were able to reduce/limit their loss had we allowed full subsidy removal.

4. Now that majority of Nigerians believe we have a more trust-worthy president in Buhari, they will accept a subsidy removal (if there was any) provided they know what they'd get in returns in predetermined dates.

MosquitoREBIRTH:
Moreover, for over a year now, Buhari has made his stance known. He has said he doesn't know anything like subsidy and he doesn't believe in it. Nigerians will never know the major scam and deceit that was in the so called subsidy removal..

onatisi:
bro ,no sensible govt will repair those refineries,they will rather sell them to private investors . But no investor will invest in oil refinery in nigeria when govt is subsidizing imported fuel.this is what gej was saying then. He would have removed the subsidy and make the oil business lucrative for private investors

onatisi:
bro ,no sensible govt will repair those refineries,they will rather sell them to private investors . But no investor will invest in oil refinery in nigeria when govt is subsidizing imported fuel.this is what gej was saying then. He would have removed the subsidy and make the oil business lucrative for private investors

ZeezaRapture:
For the first time, you talk wetin make sense to me.















But, what was the subsidy removal money used for??

kay29000:
Yea, that was my thinking too. But, really, if Jonathan and his government had really taken time to explain why it had to be removed to the masses, maybe we would have agreed. But we just woke up one morning, and heard fuel was to be sold for N150.

lolababe331e:
It's not hypocrisy, many of us understood the reason for it then but didn't trust GEJ and knew he and his cronies would steal any money saved from paying subsidy. Buhari on the other hand I trust, that's the difference

blym4real:
can you tell us what the fund generated from the partial removal was used for, because the refineries are still not working even after the partial removal.

PassingShot:
It's unthinkable that PDP could not get our refineries to work to full capacity in sixteen years!

Datanet:
I am not the author. This was culled from Facebook and written by an Insider in one f the Oil Marketing Companies


NIGERIA'S FUEL CRISIS - WHY I BLAME GEJ

In discussing this very volatile issue, let me make one point very clear. I speak from a very informed perspective. This is not just one of those social commentaries.
I worked in the downstream petroleum sector for about 36 months as legal counsel and this was at the peak of the subsidy crisis. I handled and prepared critical documents, advised on transactions and participated in the subsidy scheme as a staff of the one of biggest indigenous players in the sector. I have a perfect understanding of the system from the point where these products are negotiated and bought from refineries abroad to the contract for their shipping....from arrival at the Port in Nigeria to the inspections and the final destination at designated tank farms, so I speak with authority. When the subsidy probe started, I also made several submissions to the National Assembly Committees and also was at the EFCC during the investigations.
Weak and reactive leadership is a disaster to any organization that has it. The hallmark of great leadership is the ability to identify risks and institute effective risk management systems. No organization in this world can survive uncontrolled hemorrhage of scarce resources.

UNDER PRESIDENT OBASANJO

The subsidy scheme became an issue under President Obansanjo. It was under him that the concept of petroleum importation became full blown. For reasons best known to the wily Owu Chief, our four refineries were left to rot while our country relied on fuel importation. That policy remained the biggest disservice former President Obasanjo did to this country.
However, as bad as that policy was under OBJ, there was still some level of sanity and control. At no time under OBJ did subsidy payments exceed 190 billion Naira annually. There were stringent measures that controlled the participation of companies under the subsidy scheme.
Just before OBJ left office, he sold two of our refineries to Dangote and Otedola, a measure that would have worked if fully implemented. It is beyond doubt that the private sector remains the best economic and commercial managers. Government is a cesspool of waste and corruption.

UNDER PRESIDENT YARADUA

When late President Yar'adua took over, he rode on a staccato of uninformed voices to reverse the sale of the refineries. He reversed the sale but did nothing to bring the refineries back to work. He continued to run the subsidy scheme and kept the restive sanity in the system. As at the time Yar'adua died, Nigeria's subsidy burden was about 230 billion Naira per annum.
Now for the uninformed, the petroleum subsidy scheme is a system where the federal government, on a bid to reduce the cost of fuel paid by Nigerians chooses to pay the difference between the landing cost of petrol imports, the prevailing price of the commodity at the international market and what is actually sold in Nigeria.
For instance, if the landing cost of petrol in Nigeria is, say, N 115, and after adding lightering charges and other logistics costs, the price of petrol should be N147, the federal government asks the marketers to sell at N97 and decides to pay the marketers the difference per litre.


UNDER PRESIDENT JONATHAN

[b]Now enter President Goodluck Ebelechukwu Azikiwe Mainasara Jehoshaphat Effiong Jonathan!
Under him, subsidy costs jumped from 200 billion Naira to over 1.2 trillion in the first two years of his government.
Why? What happened?
Did the population of Nigerian triple within that period or did the number of cars quadruple? Was there an industrial revolution?
The answer is simple. Again, I speak from an informed position.
Due to weak regulatory regimes, the downstream sector became an all comers affair. Every Tom, Dick and Harry entered the business. Companies with no verifiable addresses, no tank farms, no vessels, no financial structures, no bank guarantees all became fuel importers. It was a bazaar. It is only in Nigeria that such bizzare things can happen. Emergency millionaires were made in days. Time and space won't allow me to give you details of the unbelievable things that happened. Every top official of the federal government became an emergency fuel importer or middle man. Importation licenses were hawked openly. All you needed was for the PPPRA to give you a license to import. You could sell it for millions just outside the door.
Now there is a complex web that links the Petroleum Ministry, the DPR, thE Navy, the NPA, NIMASA,PPPRA, DMO, CBN and Commercial Banks in this fraud. Documents like the sovereign debt statements and the sovereign debt notes flew about and our money kept disappearing. From about 30 companies in the scheme, the number shot up to 300. Monthly, billions of Naira were paid out to people who have never had any contact with a Jerry can of fuel in their lives. No verification, no authentication, nothing. Money was being paid with reckless abandon. Dr Okonjo Iweala and Mrs Alison Madueke were all there watching!
It got so bad that some people will arrange with ship owners......take a two day hire of an empty ship, move it to Lagos Port, berth it there. Officials of the PPPRA, Petroleum Ministry, DPR will come there to inspect an empty vessel and certify that the empty vessel carried 10,000 metric tons of petrol, collect their money and walk away. The vessel simply sails away and three weeks later, close to 6 billion Naira will be paid as subsidy when not even a single drop of petrol was brought in.[/b]
It was when the government saw that it could no longer sustain that level of waste that GEJ made that attempt at removing subsidy which was stoutly and rightly rejected by Nigerians.
If you recall, the call for the probe of the Subsidy fraud didn't even come from the Presidency. GEJ never called for any probe. Neither did Alison Madueke nor Okonjo Iweala. The call for probe was triggered off by the submissions of Senator Bukola Saraki on the floor of the Senate when he took time to tell the sad story of the biggest fraud in modern Nigeria called FUEL SUBSIDY.
Nigerians should ask GEJ to tell us how our subsidy burden jumped from 200 billion to 1.4 trillion in two years.
Between 2008 and 2013, the PPPRA was about the most corrupt government office in Nigeria. People who worked there lived like Emperors. They spent dollars like there was no tomorrow. Only the privileged found their way there. Each time I went to their office in Abuja then, I left with a heavy heart. This country is in serious trouble.
The only time sanity came to that sector was when GEJ brought Reginald Stanley, former Group General Manager of PPMC who also headed the London Branch of the NNPC into the picture. Reginald Stanley cleaned up the PPPRA, redeployed close to 80% of the workers and rejigged the subsidy program. It was then discovered that more than 60% of the funds paid as subsidy in the last three years were paid wrongly and fraudulently.
That was when the subsidy probe started. Out of the over 300 companies that were collecting subsidy, it was found that not up,to 30 were really importing fuel. Close to 700 billion Naira were stolen in the subsidy scheme. Till date, not a single person has been convicted.
Again, throughout the five years that GEJ ran this country, not one single attempt was made to even find out what is the problem with our refineries.
And yet, people say I shouldn't blame GEJ!
Who should I blame?
My father.....in his grave?

exlink10:
You sef. U don't even understand the big picture. Imagine a scenario were PMS is supposed to be sold at 80 per litre normally while our gvt is telling us that the acqual price is 160 and and that they are subsidizing it thereby paying N80 while Nigerians pay N80.

But in the actual sense, they are lotting/defrauding N80 per littre in any PMS you and I buy. that's why buhari is still amazed with this fraud called subsidy.

Someone here is saying if subsidy is removed that PMS will cost btw N155 to N160 that it is the same thing in Ghana. How can u compare 6th Highest Producing Oil nation with Ghana that is not even the 100th?

If u see evil my people, say it is evil and don't find a way around. it has been say that it only that's good peoples quiteness for evil to foster.

blym4real:
Bro you are wrong, It was the government that built the refineries in the first place, there is nothing stoping the government from fixing the refineries even GEJ promised to do that during the partial fuel subsidy removal, the point is removal of subsidy[doubt even if it exist] won't stop the oil marketers from holding us to ransome.

Ttalk:
Kindly tell us why govt cant repair that refinery? Are you saying all countries that built refinery at the time we build these refineries have abandoned them because it has become obsolete to maintain? Comon, with the capacity of those refinery, the parts can be fabricated with economic value. Do not be hypnotized by what corrupt government has been feeding the gullible Nigerians

Datanet:
I am not the author. This was culled from Facebook and written by an Insider in one f the Oil Marketing Companies


NIGERIA'S FUEL CRISIS - WHY I BLAME GEJ

In discussing this very volatile issue, let me make one point very clear. I speak from a very informed perspective. This is not just one of those social commentaries.
I worked in the downstream petroleum sector for about 36 months as legal counsel and this was at the peak of the subsidy crisis. I handled and prepared critical documents, advised on transactions and participated in the subsidy scheme as a staff of the one of biggest indigenous players in the sector. I have a perfect understanding of the system from the point where these products are negotiated and bought from refineries abroad to the contract for their shipping....from arrival at the Port in Nigeria to the inspections and the final destination at designated tank farms, so I speak with authority. When the subsidy probe started, I also made several submissions to the National Assembly Committees and also was at the EFCC during the investigations.
Weak and reactive leadership is a disaster to any organization that has it. The hallmark of great leadership is the ability to identify risks and institute effective risk management systems. No organization in this world can survive uncontrolled hemorrhage of scarce resources.

UNDER PRESIDENT OBASANJO

The subsidy scheme became an issue under President Obansanjo. It was under him that the concept of petroleum importation became full blown. For reasons best known to the wily Owu Chief, our four refineries were left to rot while our country relied on fuel importation. That policy remained the biggest disservice former President Obasanjo did to this country.
However, as bad as that policy was under OBJ, there was still some level of sanity and control. At no time under OBJ did subsidy payments exceed 190 billion Naira annually. There were stringent measures that controlled the participation of companies under the subsidy scheme.
Just before OBJ left office, he sold two of our refineries to Dangote and Otedola, a measure that would have worked if fully implemented. It is beyond doubt that the private sector remains the best economic and commercial managers. Government is a cesspool of waste and corruption.

UNDER PRESIDENT YARADUA

When late President Yar'adua took over, he rode on a staccato of uninformed voices to reverse the sale of the refineries. He reversed the sale but did nothing to bring the refineries back to work. He continued to run the subsidy scheme and kept the restive sanity in the system. As at the time Yar'adua died, Nigeria's subsidy burden was about 230 billion Naira per annum.
Now for the uninformed, the petroleum subsidy scheme is a system where the federal government, on a bid to reduce the cost of fuel paid by Nigerians chooses to pay the difference between the landing cost of petrol imports, the prevailing price of the commodity at the international market and what is actually sold in Nigeria.
For instance, if the landing cost of petrol in Nigeria is, say, N 115, and after adding lightering charges and other logistics costs, the price of petrol should be N147, the federal government asks the marketers to sell at N97 and decides to pay the marketers the difference per litre.


UNDER PRESIDENT JONATHAN

Now enter President Goodluck Ebelechukwu Azikiwe Mainasara Jehoshaphat Effiong Jonathan!
Under him, subsidy costs jumped from 200 billion Naira to over 1.2 trillion in the first two years of his government.
Why? What happened?
Did the population of Nigerian triple within that period or did the number of cars quadruple? Was there an industrial revolution?
The answer is simple. Again, I speak from an informed position.
Due to weak regulatory regimes, the downstream sector became an all comers affair. Every Tom, Dick and Harry entered the business. Companies with no verifiable addresses, no tank farms, no vessels, no financial structures, no bank guarantees all became fuel importers. It was a bazaar. It is only in Nigeria that such bizzare things can happen. Emergency millionaires were made in days. Time and space won't allow me to give you details of the unbelievable things that happened. Every top official of the federal government became an emergency fuel importer or middle man. Importation licenses were hawked openly. All you needed was for the PPPRA to give you a license to import. You could sell it for millions just outside the door.
Now there is a complex web that links the Petroleum Ministry, the DPR, thE Navy, the NPA, NIMASA,PPPRA, DMO, CBN and Commercial Banks in this fraud. Documents like the sovereign debt statements and the sovereign debt notes flew about and our money kept disappearing. From about 30 companies in the scheme, the number shot up to 300. Monthly, billions of Naira were paid out to people who have never had any contact with a Jerry can of fuel in their lives. No verification, no authentication, nothing. Money was being paid with reckless abandon. Dr Okonjo Iweala and Mrs Alison Madueke were all there watching!
It got so bad that some people will arrange with ship owners......take a two day hire of an empty ship, move it to Lagos Port, berth it there. Officials of the PPPRA, Petroleum Ministry, DPR will come there to inspect an empty vessel and certify that the empty vessel carried 10,000 metric tons of petrol, collect their money and walk away. The vessel simply sails away and three weeks later, close to 6 billion Naira will be paid as subsidy when not even a single drop of petrol was brought in.
It was when the government saw that it could no longer sustain that level of waste that GEJ made that attempt at removing subsidy which was stoutly and rightly rejected by Nigerians.
If you recall, the call for the probe of the Subsidy fraud didn't even come from the Presidency. GEJ never called for any probe. Neither did Alison Madueke nor Okonjo Iweala. The call for probe was triggered off by the submissions of Senator Bukola Saraki on the floor of the Senate when he took time to tell the sad story of the biggest fraud in modern Nigeria called FUEL SUBSIDY.
Nigerians should ask GEJ to tell us how our subsidy burden jumped from 200 billion to 1.4 trillion in two years.
Between 2008 and 2013, the PPPRA was about the most corrupt government office in Nigeria. People who worked there lived like Emperors. They spent dollars like there was no tomorrow. Only the privileged found their way there. Each time I went to their office in Abuja then, I left with a heavy heart. This country is in serious trouble.
The only time sanity came to that sector was when GEJ brought Reginald Stanley, former Group General Manager of PPMC who also headed the London Branch of the NNPC into the picture. Reginald Stanley cleaned up the PPPRA, redeployed close to 80% of the workers and rejigged the subsidy program. It was then discovered that more than 60% of the funds paid as subsidy in the last three years were paid wrongly and fraudulently.
That was when the subsidy probe started. Out of the over 300 companies that were collecting subsidy, it was found that not up,to 30 were really importing fuel. Close to 700 billion Naira were stolen in the subsidy scheme. Till date, not a single person has been convicted.
Again, throughout the five years that GEJ ran this country, not one single attempt was made to even find out what is the problem with our refineries.
And yet, people say I shouldn't blame GEJ!
Who should I blame?
My father.....in his grave?

femi4:
Willing to buy? Do you know what is called "will"? In the absence of alternative, you said Nigerians are "willing" at that price....SMH

onatisi:
let's wait and see whether buhari will repair it or sell it . It is just a matter of time,before many ppl come here on nairaland to be cursing buhari.

blym4real:
you still didn't address the question.

PassingShot:
Yes I did.

And you must surely remember how we wished he was not overthrown after about three years of IBB's governance.

If Buhari was actually a selfish tyrant, we wouldn't have wished him to return and wouldn't have won the last election.

Don't be a bigot yourself. remove the log in your eyes before attempting to remove another's piece.