Adeosun: Technically, there is no subsidy but ‘under-recovery’ - Politics (3)

Adeosun: Technically, there is no subsidy but ‘under-recovery’ - Politics (3) - Nairaland

Nairaland Forum › Nairaland General › Politics › Adeosun: Technically, there is no subsidy but ‘under-recovery’ (16700 Views)

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Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by uvalued(m): 5:40am On Feb 01, 2018

12submarine:
“Now, when there is talk of payment of subsidy, technically today there is no subsidy but there is under-recovery.

TECHNICALLY, Boko Haram has been defeated.

TECHNICALLY today, there is no subsidy.

Whenever they say TECHNICALLY, we know what they mean.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by AerialMapper: 5:55am On Feb 01, 2018

In summary:

The government is providing fuel to the citizens lower than its cost price... that is a subsidy .... simple!!! No technically bull crap

The three tiers of government are parasites solely exist on sharing Income from three agencies.

1 Like

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by vaca1: 6:01am On Feb 01, 2018

Champele:
I believe the Hon Minister. PDP put us in this mess they are trying to clear out. Only a fool will argue this. I use to be among the fools. Open your eyes my fellow Nigerians. biko!

see this one. carry this your beer parlor jist dey waka abeg

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by israelmao(m): 6:24am On Feb 01, 2018

They have finally found another phrase to exonerate themselves from back door payment of subsidy.Building built on lies can't stand.If NNPC bears cost of transporation of crude oil abroad,refining both home and abroad and transporation of refined petroleum back to the country and still sell slow to oil marketers regardless of production cost and transporation,are they not still subsidizing?They are not telling us how much they make from byproducts of petroleum.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Fourwinds: 6:40am On Feb 01, 2018

nonsense talk from Buhari's demons

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by 989900: 6:45am On Feb 01, 2018*

Crapola, from head to bottom!

2.5 million BPD, when have we ever 'officially' done that consistently or at all, Kemi? Even the realistic 2.2 mbpd (which is what all previous admins have worked with) is bravo when achieved. Why even bring something as moot as this to the equation.

It's not easy to hide failure.

You are selling more crude than Jonathan right now at higher prices than Jonathan did towards the tail end of his administration, yet the exchange rate is more than twice, your indomie brains can't tell you it's cause of the exchange rates which the present administration will prefer to murder for foreign reserves bragging rights.

Of course products are costing N180/litre (so you subsidize or 'under recover' . . . 'yada yada yada', 'cause the rates are at 360 to a dollar, at 180 to a dollar PMS will be at lower than N90/litre.

We have ultimately put ourselves in an economic 'catch 22', while economies of other oil countries are looking up and exchange rates improving, ours is doing the opposite simply because higher crude prices causes pains to our Naira via mopping up excess liquidity (courtesy of our allocation disbursement implementation).

And most importantly, via the greed and cluelessness of past and present administrators (politicians and civil servants) of this country who's fault it is our refineries won't work at even a third of their capacity, hence, our need to always use the same hard earned Forex to source for refined petroleum products!

Imagine doing that if crude pushes north of $90/$100 per barrel with a confused economic administration seeing N360/$ as an achievement, same team that believes foreign reserves figures that doesn't translate to reduced inflation on the streets mean anything to an average Joe -- then, we will buy fuel at N250/litre!

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Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Lakeshizu(m): 6:49am On Feb 01, 2018

AerialMapper:
In summary:

The government is providing fuel to the citizens lower than its cost price... that is a subsidy .... simple!!! No technically bull crap

The three tiers of government are parasites solely exist on sharing Income from three agencies.

i agree with you totally... i prefer dis arrangement to dat of the government paying the marketers directly.... hav a lovely day

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Lakeshizu(m): 6:52am On Feb 01, 2018

989900:
Crapola, from head to bottom!

2.5 million BPD, when have we ever 'officially' done that consistently or at all, Kemi? Even the realistic 2.2 mbpd (which is what all previous admins have worked with) is bravo when achieved. Why even bring something as moot as this to the equation.

It's not easy to hide failure.

You are selling more crude than Jonathan right now at higher prices than Jonathan did towards the tail end of his administration, yet the exchange rate is more than twice, your indomie brains can't tell you it's cause of the exchange rates which the present administration will prefer to murder for foreign reserves bragging rights.

Of course products are costing N180/litre (so you subsidize or 'under recover' . . . 'yada yada yada', 'cause the rates are at 360 to a dollar, at 180 to a dollar PMS will be at lower than N90/litre.

We have ultimately put ourselves in an economic 'catch 22', while economies of other oil countries are looking up and pump prices falling, exchange rates improving, ours is doing the opposite simply because higher crude prices causes pains to our Naira via mopping up excess liquidity (courtesy of our allocation disbursement implementation).

And most importantly, via the greed and cluelessness of past and present administrators (politicians and civil servants) of this country who's fault it is our refineries won't work at even a third of their capacity, hence, our need to always use the same hard earned Forex to source for refined petroleum products!

Imagine doing that if crude pushes north of $90/$100 per barrel with a confused economic administration seeing N360/$ as an achievement, same team that believes foreign reserves figures that doesn't translate to reduced inflation on the streets mean anything to an average Joe -- then, we will buy fuel at N250/litre!

Prices of fuel has increased significantly all over the world... the only countries benefiting from dis are countries with refineries.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Nobody: 6:53am On Feb 01, 2018

sarrki:
Coz am a patriot

Don't fool your self... Slow poke

1 Like

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by 989900: 6:57am On Feb 01, 2018

Lakeshizu:
Prices of fuel has increased significantly all over the world... the only countries benefiting from dis are countries with refineries.

Of course, oil producing countries with refineries.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by opribo(m): 6:57am On Feb 01, 2018

Are they there only to give reasons and give excuses why things are like this or blame past government for not saving for the rainy day.

Someone close to these tyros should just tell them to get the hell out of that place let those who understand and know what to to drive this economy. Just wonder how easy it is for people to come on TV over and over again to come and give a million reasons why things are the way they are of course we know that's why we brought in those who claimed they have the midas touch to turns things around only to realise too late that they are quacks.
So action they promised and action they must give.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Miles300: 7:03am On Feb 01, 2018

I didn't realize we av a minister of finance

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Tunks2017(m): 7:06am On Feb 01, 2018

Apc is drying up, day by day..........

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by codedguy1(m): 7:06am On Feb 01, 2018

Lakeshizu:
Prices of fuel has increased significantly all over the world... the only countries benefiting from dis are countries with refineries.

we have refineries too. Only we refused to make ours work. so who do we blame, the people benefiting from this because they manage to make their refineries work?

A zoo is far more organised than this country.

Nigeria is an evil forest.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by taurusmena1(m): 7:07am On Feb 01, 2018

What's with this government and "Technically"? Technically subsidy is non-existent, technically BH has been defeated, Technically a dollar is one naira...mtchewwwww

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by IFNOTGOD(m): 7:13am On Feb 01, 2018

incompetence at its peak

what's under recovery u import fuel at 170 n sell to marketers at 143 u call it under recovery so what did past administration did should be termed under recovery also cos dey bought fuel 150 n sell 87.

mtchew if u like let it be over recovery it is still subsidy

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Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Nobody: 7:23am On Feb 01, 2018

this dumb b*tch again?.... *spits*
nig. runs a govt. of fools! by fools, for FOOLS!
enough of nonsense!

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by Reference(m): 7:42am On Feb 01, 2018

A new low.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by pawesome(m): 7:48am On Feb 01, 2018

Champele:
I believe the Hon Minister. PDP put us in this mess they are trying to clear out. Only a fool will argue this. I use to be among the fools. Open your eyes my fellow Nigerians. biko!

technically you are still a foool and this time,it has gotten a degree attached to it....ediat

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by ivandragon: 8:18am On Feb 01, 2018

adeosun's explanation shows that there is even worse corruption going on.

if the 'under recovery' is removed from source, that means it will be very difficult to track monies lost to under recovery.

the FG can say it imports 50m litres of PMS per day at any amount it wishes to state, pays the so called differential into the federation account & writes off the loss while in actual fact it has diverted funds & chalked it off as under recovery.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by reality1010: 9:25am On Feb 01, 2018

dre11:
why nnpc is charging nigerians higher for fuel fg

http://sunnewsonline.com/why-nnpc-is-charging-nigerians-higher-for-fuel-fg/

That woman from d word. go is incompetent. OBJ's letter said a lot about her poor knowledge of economy.

Re: Adeosun: Technically, there is no subsidy but ‘under-recovery’ by HIPROFILE(m): 12:28pm On Feb 01, 2018

Karma is all I can see

Every statement and even more used to discredit GEJ is working against this buhari administration

All statement and warnings made by nnamdi kanu about this government is happening right before our very eyes.

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