Nigeria Spends N10trn On Petrol Subsidy - Politics (2) - Nairaland
Nairaland Forum › Nairaland General › Politics › Nigeria Spends N10trn On Petrol Subsidy (8066 Views)
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 6:50am On Apr 02, 2019 |
MrTechy:You think I am a Buhari supporter, which I ain't. Correct that misconception, and you will get my point. Thanks |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Frankbaro(m): 6:51am On Apr 02, 2019 |
tactius:Other things like what? What are the Nigerian masses actually benefiting from this government and subsequent governments. Even after removing the so called subsidy, we still won't see what the money was used for. Let them continue subsiding fuel, at least let that be our gain till the start giving us steady power supply. After all what benefits do we enjoy as an Oil Producing Nation. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 6:53am On Apr 02, 2019 |
Esseite:Yes, the whole subsidy thing is crooked, which is why it should be stopped. But the thing is, many. Nigerians don't want subsidies to go even with all the crookedness because it means high prices at the pump. That is what annoys me. Nigerians complaining about subsidies, and then they reject the only solution which is total removal. Subsidy system is a waste |
| Re: Nigeria Spends N10trn On Petrol Subsidy by DMerciful(m): 6:53am On Apr 02, 2019 |
Subsidy should go but that's not the point. Bubu said if anybody tells you he is subsidising anything, that person is a fraud! Also if 'corrupt' GEJ was paying less than 'upright ' Bubu then there needs to be explanation. All in all, subsidy has to go tactius: |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 6:55am On Apr 02, 2019 |
Frankbaro:So, we should keep paying into a.corrupt system that prevents investments,. Improvements, and job creation? I don't get you Nigerians. You tightly criticise buharis subsidy regimen,. But you want to keep it at. The. Same time. Well, we. Wasted 10 trillion naira. Since 2006 |
| Re: Nigeria Spends N10trn On Petrol Subsidy by ceejayluv(m): 6:58am On Apr 02, 2019 |
tactius:But you remember the impression he gave during his first term campaign saying he doesn't know what subsidy is. (Presumable) Supporters like you went into an orgasmic frenzy to paint the former government black. Now, buhari is even paying More. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Magic1: 6:58am On Apr 02, 2019 |
tactius: |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Magic1: 7:00am On Apr 02, 2019 |
DMerciful:Bubu needs to explain why he is paying more than GEJ coupled with the increase at the pump from 85 to 145 |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:00am On Apr 02, 2019 |
EddyNumerouno:What Buhari should have do e was stop setting prices for fuel. He should have let the market determine the price of fuel. The increase from 87 to 145 was because landing costs had increased to. 132. Subsidy came back when landing cost went up to 150 and above. If Buhari had really wanted to remove subsidies, fuel would be costing 200 naira and above. Bubu lied.. The truth is, no politicians in Nigeria wants total deregulation. It is expensive politically |
| Re: Nigeria Spends N10trn On Petrol Subsidy by tiwiex(m): 7:03am On Apr 02, 2019 |
tactius:One of Buhari's campaign argument was that subsidy is a fraud and we can buy petrol at a lower price even without subsidy. We don enter second term now. You ask the wrong question. Buhari already said no subsidy. We pay subsidy for almost twice the volume before now. Did our consumption double? |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:04am On Apr 02, 2019 |
ceejayluv:Well, I don't support Bubu. And I knew that despite what he was saying, he had no intention of removing subsidy or deregulating. GEJ I opposed, except when he tried to do the right thing and remove subsidy in 2012. I backed that, and I believe that most of the problems we have stem. From GEJ being forced to go from 140 to 97 naira. Had GEJ 140 stood, there.would have been no fuel crisis till 2017. I believe in deregulation. I owe no loyalty to APC or PDP. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Akiara: 7:05am On Apr 02, 2019 |
tactius:Dude....stop this obviously childish and 'paid for' narrative. How can you be critical of a 'Jonathan' Government that paid subsidy and at the same time 'Buharis' Government is paying double and even increased the pump price by almost 100%. To curb subsidy your refineries must work...since Buhari assumed power has any refinery worked?..NO!! So whose fault is it? ..Mine,Yours or Buhari's inept Government. Stop supporting Nonsense. ...Buhari is a Scam |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:06am On Apr 02, 2019 |
tiwiex:I have been a strong supporter of deregulation since 2012. So, obviously I did not take Buhari seriously about.subsidy. The truth .is he said it to get elected. If he had been promoting deregulation, he won't have won. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nukilia: 7:07am On Apr 02, 2019*. Modified: 8:11am On Apr 02, 2019 |
tactius:I don't get you! Are you talking in support of a government who while in opposition protested against GEJ subsidy removal and requested palliatives be put in place for the masses. This same government increased the price of fuel to a higher #145 deceiving the masses there's no more subsidy. I think APC has successfully fooled the people of this country. ![]() |
| Re: Nigeria Spends N10trn On Petrol Subsidy by bixton(m): 7:07am On Apr 02, 2019 |
tactius:How many foreign investors or investments in new refineries were initiated during the OBJ to GEJ regime ; None. They all wanted to import the product that was never seen only to make claims from the government. Is it now that any investment would be done given the economy? I'd expected any government/the government to go into partnership with oil producing companies just like they did on the NLNG project and put up some refineries. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nukilia: 7:09am On Apr 02, 2019 |
Akiara:APC is the biggest scam in the history of Nigerias democratic dispensation |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Reference(m): 7:09am On Apr 02, 2019 |
tactius:The criticism is about the perceived hypocrisy this government is enmeshed in when it cast doubt about the subsidy in the run up to the elections to get folks like you voting them in only to pay even more in even less transparent circumstances after raising pump prices. How the government has gotten away with this fiasco without serious inquest baffles me but proves Nigerians are eith unwilling or unable to be active partners in the governance of this country. It is not simply a matter of whether each individual citizen wants subsidy retained or not. Nigerians are clearly split on this. It is the actions of this government that raises serious questions. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:09am On Apr 02, 2019 |
Akiara:Wow, you are putting words in my mouth. I have said it repeatedly on this thread Paying subsidy is a mistake. Governments, both pdp and APC do it because Nigerians want it.. Try being a supporter of deregulation like I am. Everyone accuses you of being anti people.. You think I support Buhari. I don't. I am. Not symphatetic to any party, APC or PDP. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:09am On Apr 02, 2019 |
But APC said they would remove subsidy, and build refineries, not knowing that they continued from where GEJ's government stopped. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:11am On Apr 02, 2019 |
Reference:Didn't vote for APC or PDP. Never will. Have been a supporter of deregulation since 2012 though |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:12am On Apr 02, 2019 |
bixton:Good idea, but removing subsidies too would attract more foreign investment. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by bluke(m): 7:12am On Apr 02, 2019 |
GolDRoger:nigeria plc |
| Re: Nigeria Spends N10trn On Petrol Subsidy by bixton(m): 7:13am On Apr 02, 2019 |
Akiara:Since 1999 till date no refinery has been working, so don't run blames. I still don't see the logic behind selling crude and buying refined products. It just shows we love short cuts as a nation. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:15am On Apr 02, 2019 |
Nukilia:1.i am saying that government should not setfuel prices, or pay subsidies or under recovery. Let the marketers set their price. 2.In 2016 it cost. 132 to import one liter of fuel. And wewere selling at 87 naira per liter. Hence the price increase. 3.i did. Not like GEJ, but I will always appreciate him for raising prices to 140 which would have helped a lot. Nigerians unfortunately did not see the benefits. APC joined them, and was.left with the resulting crisis when they took over. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by bilulu(m): 7:16am On Apr 02, 2019 |
tactius:But he told us he stopped paying subsidy that's why pump price went up.... can you explain why pump price and subsidy payment went up same time? |
| Re: Nigeria Spends N10trn On Petrol Subsidy by mabea: 7:20am On Apr 02, 2019 |
tactius:Guy the point you are making is very clear but people dont want to reason |
| Re: Nigeria Spends N10trn On Petrol Subsidy by RZArecta2(m): 7:23am On Apr 02, 2019 |
8.5 trillion of the money went into the babarigas of Mr integrity's friends ![]() |
| Re: Nigeria Spends N10trn On Petrol Subsidy by Nobody: 7:24am On Apr 02, 2019 |
bilulu:Here is an explanation In 2016, fuel cost 132 naira per liter to import. We were selling it at 87 naira per liter And we had low. Oil. Prices. Oil was selling at. 30 dollars per barrel.. We needed it to be above 100.dollars per barrel to earn enough to meet our needs. Buhari raised prices to 145.Subsidy ended. But when oil prices rose, landing.costsrose to 150 and kept rising. Government then made NNPC the sole importer of fuel, and paid them money called under recovery, aka subsidies by another name. The 10trillion is money paid from 2006 to 2018 for subsides. By the way, paying subsidy is bad economics. But because Bubu wants to. Keep winning, he keeps paying. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by TGM2015: 7:27am On Apr 02, 2019 |
, the country may have spent about N10 trillion in the provision of pump price subsidy on imported petroleum products from 2006 to 2018.The 10 trillions is for 12 years. |
| Re: Nigeria Spends N10trn On Petrol Subsidy by RZArecta2(m): 7:30am On Apr 02, 2019 |
bilulu:Buhari is a thief simple. You can't be paying full subsidy and buy pms at 87 naira pre 2015 then all of a sudden government is paying half subsidy yet fuel price jumped to 145 naira and everything about the subsidy regime and NNPC have been hidden under thick blankets |
Nigeria Spends About N3 Billion To Send Govt Officials To COP28 • Peter Obi Speaks On Petrol Subsidy • Nigeria Borrows N10trn In 30 Months! • 2 • 3 • 4
Governor Otti Set To Build An Airport In Abia, Begins Community Engagement • Vigilante Group Nabs 19 Boko-Haram Suspects In Borno. • It's Time For Middle Belt To Produce The Next President, Sen Jang Tell Nigerians

