I observed that supporters of APC govt always give this flimsy excuse that GEJ govt could not be trusted with subsidy removal to justify their non-support for GEJ's govt on removal of subsidy in 2012. That he could not be trusted. Is that a good excuse Does it make economic sence to support corruption because you feel GEJ govt is corrupt Certainly not. Phrases like, ''his govt was corrupt'', ''he could not be trusted'' has become a favorite defence mechanism for APC supporters on why they protest subsidy removal in 2012. Oby Ezekwesily even made a lowly remark that ''She was glad she and her house hold didn't gave free money to govt in the name of subsidy removal in 2012''. Her own justification as to why she didn't support subsidy removal in 2012. What makes the above even more baffling is that Oby, as a former world bank executive should known better the economic benefits of subsidy removal, yet allowed her sence of judgement to be clouded by personal politics. For someone with basic economic knowledge who worked with a reputable organization like the world bank, one would expect that she should have known better that fuel subsidy was an economic parasite that should have been removed since 2012. But out of whatever beef had with GEJ's govt, she allowed sentiments to cloud her jugements.
It is share hypocrisy that individuals who always berate GEJ govt over fuel subsidy corruption supported subsidy in 2012. Fuel subsidy had actually been the catalyst that fuel sharp corrupt practices in the oil sector since the 1970s. It is difficult and almost impossible to root it out, considering the complexities and nature as number one money spenner for the country. That has been was the situation. Same thing facing the country today. So why support corruption (fuel subsidy) only to support it now because it is not GEJ govt It doesn't makes sence!

For starters, conditions for subsidy removal were actually RIPE in 2012. Then oil price was over $100 per barel, there was no shortage of foreign exchange, inflation was at a single digit, and currency exchange was about N160-175 to the dollar. At that time the worsed price senario for pms in post subsidy removal was around N160 per litre. It was quite high then, but given a chance, fuel prices would have since dropped owing to competition.
The benefits then were huge. Private sector players would have build refineries, because it would be much more cheaper to refine products locally than import. More strategic fuel depots would have been build round to country for quick supply as oil companies seek to maximize their profits. More jobs would have been created. More foreign exchange would have been saved. Transport fares and food prices would have come down considerably. Had it been Nigerians suppoted fuel subsidy removal in 2012, we would never had experince any fuel shortage from 2014 to date.

Unfortunately for some, politics got in the way of economic reason. We allowed sentiments to cloud our minds on why subsidy need to be removed. Some politicians even sponsored protest all over the country to resist subsidy removal. One politician even attacked GEJ saying subsidy is the only thing Nigerians enjoy, and GEJ wants to take it away from them. Funy enough the same politician today is in full support of removal of subsidy. So what has changed Obviously nothing has changed. Was fuel subsidy removal not a means to attack corruption and fuel availability then as it is now Was fuel subsidy removal not a remedy for privately build refineries then and now Was fuel subsidy not depleting govt income (higher crude prices = higher subsidy payment) then as it is now Its still the same.
Subsidy proved too unsustainable. It was an economic parasite. It encourages sharp practices and hinders free economic competition. No investor any where in the world would invest in a sector where prices of comodities are fixed by govt led alone build refineries (one of the major reasons why GEJ administration made attampts to remove fuel subsidy).

Unfortunately for us, conditions are even more precarious today. With inflation sky rocketing at two digits and rising food prices every where, it would be a lot more harder for Nigerians to endure subsidy removal than it would have been in 2012. Nigerians purchasing power has dropped considerably over the last few months owing to rising cost of living. Certainly conditions are for more worse today. To make matters worse, there's no garuantee that the N145 per litre price is even realistic. With marketers sourcing for dollars in black market at N320, fuel price per litre may end up selling higher than N145.
So the conditions are going to be much tougher than in 2012.
Though fuel subsidy is the way to go to allow for more open participation from individuals and organizations, the idea that fuel subsidy could not be supported in 2012 because of corruption lacks economic objectivity and is highly ridiculous.

GEJ meant well for dis country, don't know y some people reason through their anus. If subsidy were removed then, d economy would have bin nice n adjusted by now. APC n all those who resisted GEJ owe him an apology. Infact every policies of dis administration seem to be copy n paste of GEJ's plans n strategies

With all the looting GEJ's administration did with him watching, defending and supporting, some people still wished he had added total removal of subsidy to it.

What did he do with revenue from the partial removal? It was looted under the guise of SURE-P.

May we know the root cause of our problems in life, amen.

chikel2000:
GEJ meant well for dis country, don't know y some people reason through their anus. If subsidy were removed then, d economy would have bin nice n adjusted by now. APC n all those who resisted GEJ owe him an apology. Infact every policies of dis administration seem to be copy n paste of GEJ's plans n strategies

He meant well by allowing all the fraud and scam perpetrated during his administration to go undisturbed.

He even defended it publicly because he meant well.

He allowed Dasuki to divert the arms funds because he meant well for the Nation.

He grounded the nation to a halt through last minute looting and sharing billions of dollars in order to win his election because he meant well.

Emptied the national treasury because he meant well.

GEJ remains a big Mumu to me.

ba7man:
He meant well by allowing all the fraud and scam perpetrated during his administration to go undisturbed.

He even defended it publicly because he meant well.

He allowed Dasuki to divert the arms funds because he meant well for the Nation.

He grounded the nation to a halt through last minute looting and sharing billions of dollars in order to win his election because he meant well.

Emptied the national treasury because he meant well.

GEJ remains a big Mumu to me.

Yes to u n ur follow likes

Lalasticlala

chikel2000:
Yes to u n ur follow likes

Prove anything I've written up there wrong. I dare you.

GEJ and his team still remains the best thing that has ever happened to this country and to most of you saying GEJ is corrupt I don't really blame you guys because your gullibility is legendary,the humble man ran his administration the way he feels will help the masses,and all the accusations leveled against him are money he spent during his campaign which he didnt eat 1 naira from..and I believe that dullard spent more,any day EFCC traces any money to GEJ's account then I will take you guys serious beside Abacha didn't steal 1naira according to dullarpo.

Irrespective of what you wrote at the op Jonathan is not the right guy to remove subsidy. We are all witnesses to the Revelation of loot perpetrated under his watch

chikel2000:
GEJ meant well for dis country, don't know y some people reason through their anus. If subsidy were removed then, d economy would have bin nice n adjusted by now. APC n all those who resisted GEJ owe him an apology. Infact every policies of dis administration seem to be copy n paste of GEJ's plans n strategies

You're right. So far all policies executed by the APC govt are same policies they condem few years ago.

Sall:
Irrespective of what you wrote at the op Jonathan is not the right guy to remove subsidy. We are all witnesses to the Revelation of loot perpetrated under his watch

My dear, in 2012, did you directly or indirectly tell Nigerians or the world that GEJ was not qualified to remove PMS subsidy because his government was corrupt?
Thanks as I wait for your answer!

as stale n cliché as it may now sound, comn nw 2 say GEJ cud av mismanaged d fund being d major reason it ws rejected By D's hypothetical people, can we jus pause n try2 recal DAT d argument(by ds short sighted cum messiah) den ws GEJ bein insensitiv n wicked of d untold hardship it WL bring2d pipl bt nt fear of GEJ mismanagn d fund DE nw use as defence line...nw d question is, D's sets of hypocrites drumn for d removal presently r DE not really being d 1 shown wickedness n insensitivity at same time wit zero care?...afta hikn NEPA n forcn it down our throat as being a necessary bitter pill even against d senate stand down orda, DE have com nw wit anoda necessary bitter pill wich DE r alwayz immune to....DE count it worthy to increase evryrn BT minimum wage...who Eva da WL champion D's revolution has got a disciple in me already