₦airaland Forum

costandi:
1. Subsidy wouldn't be removed.
2. Subsidy removal would create thousands of jobs - kachikwu, lie mohammed
3. Subsidy wasn't removed.
4. Subsidy removal would save money.

Buharis government is a disaster.

Segadem:
Who activate am?

Ijaya123:
Try reading between the lines. It will save yours from being a disaster.

Ijaya123:
We know the money saved will be put to good use unlike the previous administration who lacked the mental and moral capacity to manage our resources.

Yet to meet a single person who benefitted from the scam called SURE-P.

TyrantInAsoRock:
Yes it will be put to good use lyk the 45% increment on our electricity bill is been put to good use



Agramafols

989900:
There is no $16.4b. They removed subsidy since the time they drafted the budget.

Ijaya123:
Daft reference. Are you paying the 45% to the govt?

Adesiji77:
Osinbajo: Fuel subsidy not removed, increase due to non-availability of FX

Kachikwu: Fuel subsidy has been removed

So, which one?



http://www.thisdaylive.com/index.php/2016/05/15/kachikwu-subsidy-removal-to-save-n16-4bn-monthly-for-govt/

OLADD:
So your head was dead when Osinbajo said Subsidy wasn't removed?

http://www.vanguardngr.com/2016/05/fuel-price-hike-fg-not-removed-subsidy-says-vp-osinabjo/

[size=14pt]Fuel price hike: FG has not removed subsidy, says VP Osinabjo[/size]

Contrary to popular knowledge that the federal government has expunged oil subsidy from the Nigerian oil and gas system, Vice President, Yemi Osinabjo refuted the claim, saying it was not true. Osinabjo said that what the government did was to withdraw the monopoly hitherto enjoyed by the Nigerian National Petroleum Corporation, NNPC to allow free market sales. He said that “at $40 a barrel, there isn’t much of a subsidy to remove.”

In a statement tilted “The Fuel Pricing Debate: Our story”, personally signed by him, the Vice President said that the decision to adopt a new measure was essentially informed by the non availability of foreign exchange for the independent marketers to import fuel.

His Statement: "The Fuel Pricing Debate: Our Story

“Fellow Citizens: “I have read the various observations about the fuel pricing regime and the attendant issues generated. All certainly have strong points. “The most important issue of course is how to shield the poor from the worst effects of the policy. I will hopefully address that in another note. “Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn’t much of a subsidy to remove. “In any event, the President is probably one of the most convinced pro-subsidy advocates.

“What happened is as follows: our local consumption of fuel is almost entirely imported. The NNPC exchanges crude from its joint venture share to provide about 50% of local fuel consumption. The remaining 50% is imported by major and independent marketers.

“These marketers up until three months ago sourced their foreign exchange from the Central Bank of Nigeria at the official rate. However, since late last year, independent marketers have brought in little or no fuel because they have been unable to get foreign exchange from the CBN. The CBN simply did not have enough. (In April, oil earnings dipped to $550 million. The amount required for fuel importation alone is about $225million!).

“Meanwhile, NNPC tried to cover the 50% shortfall by dedicating more export crude for domestic consumption. Besides the short term depletion of the Federation Account, which is where the FG and States are paid from, and further cash-call debts pilling up, NNPC also lacked the capacity to distribute 100% of local consumption around the country. Previously, they were responsible for only about 50%. (Partly the reason for the lingering scarcity).

Hengineer:
Kindly point out where Osinbajo said subsidy wasn't removed?... And please don't show me some silly report by some quack Vanguard journalist who obviously reports stories out of his insane imaginations.

Below is the Vanguard report causing this confusion to people who happen to be learned, but would rather not read; besides the first paragraph and the title which is the dumb interpretation and opinion of the journalist, kindly point out the line within the report where Osinbajo said subsidy wasn't removed?... I have highlighted the exact words of Osinbajo in RED

Apparently, because the VP says the real issue isn't subsidy removal, then an unbaked journalist interprets this sentence as "No subsidy has been removed," even though it is all over the news that subsidy has been removed, and the sad part is that many (even educated people) swallow this. Isn't it a shame that we have these kind of journalists publishing news reports for a major newspaper like Vanguard?.... This was exactly how another Vanguard slowpoke reported the "I will make N1=$1" falsehood.

cc: Adesiji77, shiimah, Nbote, costandi, mineANDurs, micfoley, omowolewa, OZAOEKPE, sigiyaya, cosmatika

Timbuktu14:
Who the 16.4B go epp? Smh!

Karm16:
I support the removal of Feul subsidy, but where will the saved money be going? Politician pockets. So e no concern hungry iPod yoots.

Adesiji77:
Osinbajo: Fuel subsidy not removed, increase due to non-availability of FX

Kachikwu: Fuel subsidy has been removed
[url][/url]
So, which one?



http://www.thisdaylive.com/index.php/2016/05/15/kachikwu-subsidy-removal-to-save-n16-4bn-monthly-for-govt/ [/quote[sub][/sub]][center][/center][quote]