ivandragon:
if at $59 pb, the landing cost of fuel is N145-N170, imagine the nightmares GEJ was going through when crude was between $80-$90 pb to keep fuel at N97-N87 & still maintain an exchange rate of N150-N180 - $1 for over 3 years...


pmb's major albatross is his previous utterances - the lies & deceit...


it is now very obvious that GEJ was actually spending between $15b-$20b yearly on subsidy.

COMPAQ:


You can't cheat the laws of economics. If economics dictates that N145 is no longer economical based on the price of crude, then not much can change that - except we want to acknowledge that we will be subsidizing. The smart thing to do would have even to deregulate when the rude prices were so low. But the politicians who had just got into government were too scared to do so. That is the only solution. Dangotes refinery may make the price per litre a bit cheaper because at least his Labour cost will be in naira, and all transportation will also go out of the equation. but if crude prices should ever go to say usd 100, even he might not be able to break even at N145.

HtwoOw:



I wonder if you people's brains always leave you when you comment, Buhari ran a successful government for 2 years plus but nothing you people won't complain about


FYI there's been no subsidy for over a year and fuel was supplied at govt approved price , do not confuse greed with anything else


Other than allow these PDP fuckkkkers to hold Nigeria to hostage, it's better to merge marketers into 5 or more, anybody who can't cope with imports should be eliminated from the formula, Banks were merged and we got better service, I totally oppose paying subsidy because that'll be going back to the vomit we all complained about

HtwoOw:


Please don't be stupid, how much was lost to subsidy scam compared to the benefits Nigerians got? Upon all the subsidy there was still scarcity and queues and they even pushed for more


Subsidy was abused and should never be allowed again, period

MobilityExpress:
All these APC govt officials that are sucking Nigeria’s wealth dry but are not buying cars from me, may God punish all of you in a special way. You can’t continue to be eating Nigeria’s money alone and not buy cars from me

Esseite:
Where are all the subsidy is a scam folks...

Where are all the "a barrel sold for $100"... now its selling for $59 and we are already screaming.. without knowing the higher it goes the more we pay for refined crude.

At last.. jonathan has been vindicated on subsidy. He claimed to pay an approx of $400m monthly. If he had punished the masses like we are now and saved that money in our treasury.. we would be hitting $80bn, but he had a sympathetic and empatetic heart.

At $59/barrel marketers are shutting down, imagine at $100/barrel meanwhile dollar was maintained at 150 - 180, reserve was at $30bn, excess crude was as $32b... please please.. am in enough stress already..

maasoap:

Your post made sense but I have two things to say, it doesn't matter whether you agree or not.
1. It has been proven (including Okonjo Iweala) that many fake registered oil importing firms that didn't import a drop of petrol claimed billions of naira as subsidy money under GEJ.
2. Buhari doesn't want to pay subsidy on petrol even though the price of oil is increasing in the international market.

But if there is one thing I learned from this report, I just knew what caused this scarcity because I was used to telling people that I didn't know the exact cause before. Buhari should do something quickly. Like eliminating the fraud in the payments of subsidy because as the price tends to go up in the international market, FG can't avoid the payments of subsidy to reduce the associated hardships in the society.
Unlike Jonathan supporters who were campaigning for subsidy removal in 2011/2012, I wouldn't campaign for that despite the fact that I'm Buhari supporter.

HtwoOw:



I wonder if you people's brains always leave you when you comment, Buhari ran a successful government for 2 years plus but nothing you people won't complain about


FYI there's been no subsidy for over a year and fuel was supplied at govt approved price , do not confuse greed with anything else


Other than allow these PDP fuckkkkers to hold Nigeria to hostage, it's better to merge marketers into 5 or more, anybody who can't cope with imports should be eliminated from the formula, Banks were merged and we got better service, I totally oppose paying subsidy because that'll be going back to the vomit we all complained about

badebillions:


Fixed

GavelSlam:


The refineries cannot work for as long as it is a government parastatal...Nigerians and corruption are like 2 peas in a pod.

We need the private refineries desperately but even Dangote's refinery is slow in taking shape.

MobilityExpress:



I didn’t say that oh, don’t put me in trouble please

matrix199:
The UN should close down this country. It has failed woefully.


We're like a mermaid dying of thirst in her kingdom. How can we be an oil producing nation and still be an oil deficient nation? That's a paradox.


Here's how daft the immediate and the past leaderships of this country are...

They sell a barrel of crude oil(159litres of 6 constituent oil) @ $59/N17,000 per barrel)

They later buy a barrel of 1st constituent of the crude, which is PMS, (1 barrel @ $55) + a barrel of 2nd constituent of the crude, which is kerosene, (1 barrel @ $57) + a barrel of 3rd constituent of the crude, which is diesel, (1 barrel at $70), then sum up all they spend importing what they exported @ $59, that would give $182.

They earn $59 per barrel exporting crude oil. They spend $182 importing a barrel of petrol, a barrel of kerosene, and a barrel of diesel.


A mermaid sells her fresh fish at N100. She later buys it back as fried fish at N200.

Isn't she a daft mermaid?

matrix199:
The UN should close down this country. It has failed woefully.


We're like a mermaid dying of thirst in her kingdom. How can we be an oil producing nation and still be an oil deficient nation? That's a paradox.


Here's how daft the immediate and the past leaderships of this country are...

They sell a barrel of crude oil(159litres of 6 constituent oil) @ $59/N17,000 per barrel)

They later buy a barrel of 1st constituent of the crude, which is PMS, (1 barrel @ $55) + a barrel of 2nd constituent of the crude, which is kerosene, (1 barrel @ $57) + a barrel of 3rd constituent of the crude, which is diesel, (1 barrel at $70), then sum up all they spend importing what they exported @ $59, that would give $182.

They earn $59 per barrel exporting crude oil. They spend $182 importing a barrel of petrol, a barrel of kerosene, and a barrel of diesel.


A mermaid sells her fresh fish at N100. She later buys it back as fried fish at N200.

Isn't she a daft mermaid?

BeeBeeOoh:
When Buhari and APC are done with us, our neck's will be long like that of Tolotolo..





cc Anonimi

HtwoOw:



I wonder if you people's brains always leave you when you comment, Buhari ran a successful government for 2 years plus but nothing you people won't complain about


FYI there's been no subsidy for over a year and fuel was supplied at govt approved price , do not confuse greed with anything else


Other than allow these PDP fuckkkkers to hold Nigeria to hostage, it's better to merge marketers into 5 or more, anybody who can't cope with imports should be eliminated from the formula, Banks were merged and we got better service, I totally oppose paying subsidy because that'll be going back to the vomit we all complained about

matrix199:
The UN should close down this country. It has failed woefully.

ivandragon:
if at $59 pb, the landing cost of fuel is N145-N170, imagine the nightmares GEJ was going through when crude was between $80-$90 pb to keep fuel at N97-N87 & still maintain an exchange rate of N150-N180 - $1 for over 3 years...


pmb's major albatross is his previous utterances - the lies & deceit...


it is now very obvious that GEJ was actually spending between $15b-$20b yearly on subsidy.

yeyerolling:
NNPC has been importing petrol at a loss.which account is that loss hitting abeg Yet some claimed subsidy was a scam.

StankovicEgeni:
I just can't explain what is wrong with the civil society groups , the labor unions and activists . What stops us from rehabilitating at least one of our refineries ? why do we derive pleasure in punishing ourselves ? from the dust we came , to it we'd return .

ajl:


Point of correction. Bitumen are not derived from your normal every day crude oil but from oil sands which are unconventional heavy oil that already has its lighter fraction degraded or removed in situ by microbes. And these are not refined in convention refineries.

The largest oil sands reserve are in Canada and Venezuela. Nigeria also has some heavy oil deposits but not sure if these are exploited.

In summary, one can't get bitumen from the kind of oil that Nigeria produce. These are high end light fractions.

gocac:
This would be the death sentence of Buhari's 2019 ambition.
Should there be 1naira hike in fuel pump price,
Then it is over and out for the APC led government.

Because, even the APC members themselves will cry like a baby, at the filling station.
For me i will not cry, because i have always know that this government is useless to me and my likes.

eprynce:


the APC and their senseless minions have to ensure that the propaganda remains 'true'
They are only doing their work o. BMC

bencynthgreat:

Haha and looking below me I see ur just a waste of oxygen and flesh. Grow up mehn

KanuJEWSarePIGS:


He is deeply pained.

Don't head to the gallow!

bencynthgreat:

I thought u have more punches to throw at me. Do that and see how how I make my name taste just like a dick in ur mouth.

KanuJEWSarePIGS:


I advise you go low with me on this. I receive banters daily from customers thanks to the job I do so be sure you aren't gona get through my skin even as you head towards exhaustion.

Be guided!

bencynthgreat:

U can run ur mouf but I don't care cos if u get too close ama clap ur mouf. am more like a double edged sword and I won't hesitate to slice u.

authenticman:


@ the bolded, so if the marketers made above normal gains during period of lower crude price, good conscience demands that they accept the current price pending when we have full deregulation.

KanuJEWSarePIGS:


He is already running low .

Panting like a scared fat ladened dog.

Relax and enjoy the full comfort of your old loosed chair.

You've not exhausted your threshold.

I never open your channel yet. You go believe wen your o'clock don nack.