₦airaland Forum

Vision less dumb skulls everywhere in government. I weep for Nigerians. How could a govt claimed trillions of naira is spent on subsidy while our refineries still lies in commatos. How much exactly is needed to fixed our refineries and ensure they work maximally? Am very certain that 5trn will conveniently fix all our refineries and even build a new one

Subsidy will go when dangote is done y'all should chill. The raw materials are partially owned by NIgeria(crude oil) so you don't necessarily have to import the raw materials ,the only impediment will be refining cost which might shoot up cost but I think dangote will try to at least compromise if he government is willing to at least reduce the cost in any way they can which is a win win. We HV been subsidizing for almost 2 decades I am sure we can wait another year or two for the refinery to be complete. Also more refineries will be built in order to compete.

ex president says let him remove fuel subsidy totally and fuel will be sold at 120 they shouted no, now fuel goes for 145 with subsidy palava.

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tactius:
So, you agree government should let fuel prices rise by ceasing the payment of under recovery?

I think they should, but you people don't want to pay 200 per liter and above re fuel. That's why government is paying under recovery.

Can they explain to us how come they are paying more subsidy then the previous government even after increasing fuel price from 97 to 145 naira?

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tactius:
You haven't answered my question.

Should Buhari have stopped paying subsidies since 2015 and allowed marketers to set prices of fuel. ?

Would you have complained if fuel prices had risen?

Me, I think that Buhari decision to pay subsidies us harming our economy. But if he had stopped, prices would have gone up, but you people would have been calling it anti people .

Subsidy is there because Nigerians want it. You do want it

Then what why did they increase the price of fuel from 97 to 145 naira if not to stop subsidy.

Emotionss:
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Then what why did they increase the price of fuel from 97 to 145 naira if not to stop subsidy.

I have explained why upthread.

Emotionss:
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Can they explain to us how come they are paying more subsidy then the previous government even after increasing fuel price from 97 to 145 naira?

Why are you asking me? All the long story I tell here is so that government can remove subsidy so that the whole corruption can stop.

I am no APC or PDP fan. I am for subsidy to be gone, and marketers set price. Full stop.

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tactius:
Why are you asking me? All the long story I tell here is so that government can remove subsidy so that the whole corruption can stop.

I am no APC or PDP fan. I am for subsidy to be gone, and marketers set price. Full stop.

They told us that the reason they increased fuel price from 97 to 145 was because subsidy was removed. So what's all this nonsense about them paying double subsidy to avoid increase again ?

Emotionss:
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They told us that the reason they increased fuel price from 97 to 145 was because subsidy was removed. So what's all this nonsense about them paying double subsidy to avoid increase again ?

That is why subsidy, underrecovery and government setting of prices has to stop....

simple.

tactius:
Actually the only way refinereis can be built is by deregulation.

We need 4 new Dangote type refineries to take care of our fuel needs. A new refinery costs $10billion USD. Our reserves are around 40 billion USD.

Oil is selling at $68 per barrel, and we need it to be selling at $140 per barrel to meet all our needs without taking loans.

And it isn't just building refineries, we have to maintain them

Truth is, by removing subsidies, we attract investment, local and foreign that means more refienries, and eventually prices of fuel fall.

Subsidy removal means government stops setting prices, and stops paying subsidy, ans uses the money for funding things like educaiton, etc.

Why wouldn’t the government allow private individuals to own modular refineries?
It’s a good start from there
See anything to stop importing fuel is ok by me.

Kfed4ril:
Why wouldn’t the government allow private individuals to own modular refineries?
It’s a good start from there
See anything to stop importing fuel is ok by me.

Well, they are allowing private individuals own modular refineries

The issue is that subsidy means the owner of a modular refinery sells fuel at a loss.

tactius:
Well, they are allowing private individuals own modular refineries

The issue is that subsidy means the owner of a modular refinery sells fuel at a loss.

Bros how? How? How? Do you know how many products you get from crude oil?
Bros you can never run a loss, the low oil price self is an advantage to the refinery owners because the will buy the crude at a cheaper price the refine the various products from it and sell.

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