Is there actual proof that subsidy is being paid for?

davodyguy:
There's nothing wrong in what's happening.

Let me quickly clarify before dumbass analyst start talking nonsense.

Where we were

Sometime in December, 2015 the price of crude oil per barrel dropped to about $32 and the exchange rate then was less than N300 to 1$. At that time, the government. Marketers were making profit, without subsidy being paid.

2016 first quarter

By mid January, the price of crude oil started rising, and that was the time CBN started their failed policy on exchange rate. What happened then was that as the crude oil price increased, exchange rate to dollar also increased. This made landing cost of refined products to go up. You would recall that we experienced scarcity till May, 2016 when subsidy was finally removed. Why? Cos product was sold. (PMS) at N87 per litre and the differential was paid to marketers as subsidy.

May, 2016

Subsidy was removed. Exchange rate is now over 300 naira to a dollar. Hence we started buying PMS per litre at N145.

NOV, 2016

International price of crude oil rose to $50 per barrel and exchange rate is over N400. The landing cost would automatically increase. But since PMS price is still being regulated and pegged, no marketer would import a product at N145 per litre and still sell below cost price.

JAN, 2017

In order to avoid two things

1) Fuel Scarcity
2) Increased PMS price

NNPC is now importing 90%. of daily consumption of PMS so that Nigerians would not suffer.

So I wonder how some dunce will insult NNPC, when they're actually saving you.

The only solution now is for CBN to do something about the exchange rate and things would be back to normal.

Price not per barrel is about $53-54 and exchange rate is over N400 naira.

Price may remain $54 or even go higher as we pray and hope for. CBN must do something about the exchange rate and allow drop back to 300 or below. If this is done, things would balance up

U tried but really didn't make any point. What u said doesn't change d situation. Not d fault of nnpc, but d annoying fact is that, as long as d govt and CBN under this admin continue with their directionless policies and somersaults, nnpc and d people will keep bearing d brunt.

AfonjasMustDie:
APC zombies and Buhari are the dumbest people on earth

They crucified and wanted to kill Goodluck Jonathan for introducing subsidy

What is happening now ?? Buhari the ignorant 90 years old farmer and his APC rats have ran to subsidy( which they called looting) to help them

This is just the begining




I want the economy to get worse

I want rice to be sold for 50 thousand naira per bag

I want everything to crash to the ground

This is what Zombies deserve for voting in an ignorant farmer as the president

I pray that Buhari will rule Nigeria for 100 years

This is just the beginning of the hardship

Kerosene was 120 naira when Goodluck Jonathan was the president and some idiots said that they want change, they voted for a 90 year old farmer and 1 year later a liter of kerosene is 500 naira

I pray that the price of petrol will increase to 9 thousand naira per liter so that these zombies will die of hardship

We are all in it together. God will see us through this situation. Keep praying for bad things for yourself and your family. Not Nigeria.

2dugged:
you left out modath, by the way, I haven't seen her comment since late last year, I hope she is ok, and it's only the shame of buhari that is keeping her away

Modath abi, I guess she's either fired or enjoying her pension. Cos they have not been active in defending her pay masters. I just hope she well.

handsomeclouds:

Modath abi, I guess she's either fired or enjoying her pension. Cos they have not been active in defending their pay masters. I just hope she well.

I hope she is ok too

davodyguy:
There's nothing wrong in what's happening.

Let me quickly clarify before dumbass analyst start talking nonsense.

Where we were

Sometime in December, 2015 the price of crude oil per barrel dropped to about $32 and the exchange rate then was less than N300 to 1$. At that time, the government. Marketers were making profit, without subsidy being paid.

2016 first quarter

By mid January, the price of crude oil started rising, and that was the time CBN started their failed policy on exchange rate. What happened then was that as the crude oil price increased, exchange rate to dollar also increased. This made landing cost of refined products to go up. You would recall that we experienced scarcity till May, 2016 when subsidy was finally removed. Why? Cos product was sold. (PMS) at N87 per litre and the differential was paid to marketers as subsidy.

May, 2016

Subsidy was removed. Exchange rate is now over 300 naira to a dollar. Hence we started buying PMS per litre at N145.

NOV, 2016

International price of crude oil rose to $50 per barrel and exchange rate is over N400. The landing cost would automatically increase. But since PMS price is still being regulated and pegged, no marketer would import a product at N145 per litre and still sell below cost price.

JAN, 2017

In order to avoid two things

1) Fuel Scarcity
2) Increased PMS price

NNPC is now importing 90%. of daily consumption of PMS so that Nigerians would not suffer.

So I wonder how some dunce will insult NNPC, when they're actually saving you.

The only solution now is for CBN to do something about the exchange rate and things would be back to normal.

Price not per barrel is about $53-54 and exchange rate is over N400 naira.

Price may remain $54 or even go higher as we pray and hope for. CBN must do something about the exchange rate and allow drop back to 300 or below. If this is done, things would balance up

What is the 'something' you are referring to?

...

psucc:
They should spare us these lies. it is obvious they are bent on price increase so let them do it.

It is our fault. How can a country with over 20m graduates decides to vote for an illiterate?

Bro but werent we deadlocked? Between that "corrupt" Jonathan and "saint" Buhari couldnt we have just had someone else totally different but worthy emerging as president?

[s]

erico2k2:

Do you have one?you log will just yep sillyNess in 5 he name of making sense and U wonder how over 20M graduates managed to vote someone with no certificate into power. With mindsets like this your answers are laid bare.

[/s]

Shut up and grow up already. Buhari is d best thing to happen to nigeria. He is Godsent. If u dont like it, lagoon still has ample space for your likes. Rubbish!

blackpanda:
[s][/s]

Shut up and grow up already. Buhari is d best thing to happen to nigeria. He is Godsent. If u dont like it, lagoon still has ample space for your likes. Rubbish!

hahahahahahshahahaha

handsomeclouds:

Modath abi, I guess she's either fired or enjoying her pension. Cos they have not been active in defending her pay masters. I just hope she well.

Modath is an hypocrite... she's too ashamed to voice out...

sapele914:
Poor foundation laid by the now defunct pdp. Please tell me ONE meaningful achievement of pdp in the oil sector in its 16 years in power that affected your life positively.

CONTINUE DEFENDING THE GOVERNMENT AND TRADING THE BLAME GAME.WE FELT THE GOVT OF TODAY WOULD HAVE TAKEN UP FROM WHERE JONATHAN LEFT AND MAKE THINGS BETTER FOR NIGERIANS.I HAD FAITH IN THIS GOVERNMENT BUT UNFORTUNATELY THE DISAPPOINTED ME AND EVERY NIGERIAN.WHEN JONATHAN LEFT THESE WERE PRICES OF FOOD WHICH IS THE ONLY THING A POOR MAN CAN AFFORD.
RICE #7500 NOW #21,000,GARRI (TIN) #1,100 NOW #3,000,INDOMIE CARTON #1,700 NOW #3,000,KEROSENE (4LITRES)#350 NOW #2000,CEMENT #1,300 NOW #2,350, ETC.WE VOTED FOR THEM TO MAKE NIGERIA GREAT AGAIN AS THEY PROMISED US BUT UNFORTUNATELY THEY HAVE PRACTICALLY MADE THINGS WORSE WITH WEAK AND TRIAL AND ERROR POLICIES.

blackpanda:
[s][/s]

Shut up and grow up already. Buhari is d best thing to happen to nigeria. He is Godsent. If u dont like it, lagoon still has ample space for your likes. Rubbish!

ITS LIKE U JUST DROPPED FROM THE MOON

2dugged:
you left out modath, by the way, I haven't seen her comment since late last year, I hope she is ok, and it's only the shame of buhari that is keeping her away

Humiliating shame more like it.

Pilar4u:


I don't know why people like you rush to comment... I think you need help

Hahahhaa!
You where Sabi wetin be your own

Druss:
Is there actual proof that subsidy is being paid for?

Yes and the only ones benefitting is the NNPC .
If not show a country where you can land petrol from at.N180

blackpanda:
[s][/s]

Shut up and grow up already. Buhari is d best thing to happen to nigeria. He is Godsent. If u dont like it, lagoon still has ample space for your likes. Rubbish!

E pain am
. Are you finished ?
Make u dey celibrate a person that did nothing for Daura .
All his followers are Cows . And U 2 follow.

Jokerman:

Modath is an hypocrite... she's too ashamed to voice out...

What do you expect. This should remind us that we shouldn't be a firebrand.

ephi123:


Humiliating shame more like it.

Please are there people in the house who buy fuel above N145 per liter. There are arguments that people buy above N145 but i have searched google and can't seem to find that information. I think the argument of people buying above N145 is just a speculation rather than a fact. I could be wrong. Any thoughts on this.