Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

Here is the only post from someone who understands the situation aptly.

The opinions of the rest on this thread are filled with either ignorance or clueless naivety.

Thumbs up, bro.
You have said it all.
I don't even know whether to think it would have been better for us as a nation if we never had oil.

# UNREPENTANT GOVT OF THIEVES,

BY THIEVES!

FOR BRAIN-DEAD BUFFOONS!


the cursed shithole is long overdue for a red revolt!

Durchmann:



Here is the only post from someone who understands the situation aptly.

The opinions of the rest on this thread are filled with either ignorance or clueless naivety.

Thumbs up, bro.
You have said it all.
I don't even know whether to think it would have been better for us as a nation if we never had oil.

Thank you.

Telkart19:


No, I'm not, and I don't know where to go to get a job as an influencer. If you know, please hook me up...I need to save money for a Dell Inspirion..

Actually, I have supported subsidy removal since 2011...when GEJ's economic people finally talked some sense into my mind. That, plus my reading up over the last 8 years since have convinced me that subsidy has to go.

Before, I was all for subsidy, right from the 1990's when one Baroness Lynda Chalker was telling us that subsidy had to go (and we all thought she was a bad IMF mole).

The truth is, we are spending 2 trillion on a subsidy that could have been used elsewhere. And now, with oil prices being low....the revnue to sustain it is not there anymore.

If it was up to me, I would even set prices at N30 per liter self. Right now. But we can't.

So, sorry, but it is subsidy removal...or we keep taking more and more loans from IMF.

u may be right sir, but these people are just embezzle the money and still come out to tell us rubbish that they still need to increase fuel. Libya and Algeria sells below 60 naira because they are oil producing countries.

Telkart19:


Thank you.

when atiku mentioned that nnpc should be sold, people saying he is a thief that is a bad idea. Nigeria can't be great with 85% dumb people in it.

princeade86:
u may be right sir, but these people are just embezzle the money and still come out to tell us rubbish that they still need to increase fuel. Libya and Algeria sells below 60 naira because they are oil producing countries.

1. The embezzeling is an issue....but then again, subsidy cabals chop our subsidy money.

Anyway, democaracy empowers one to ask questions, agitate, and fight for the right things to be done.

2.Libya has 5 -6 million people, and on a good day, produce more than three times what we produce here in Nigeria. So they have the cash for subsides, and a lot more. Algeria has 40 million people, and produce more oil than we do. Same thing.

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

You are delusional with no one to tell you...

princeade86:
when atiku mentioned that nnpc should be sold, people saying he is a thief that is a bad idea. Nigeria can't be great with 85% dumb people in it.

NNPC should be sold....along with subsidy removal

I don't like Atiku...but there he was speaking sense.

NNPC would become more compettive...and eventually might even become a global player. May even generate more jobs self if privatised.

Telkart19:


Thank you.

Ride on, bro.
Keep educating the clueless ones here.
It scares me to think how much our literacy levels in this country inhibits citizens from finding out the truth for themselves, even with the information overload on the internet.

NkayStory:




You are delusional with no one to tell you...

I'm much obliged to you, sir , for telling me the truth about myself. You have done a good and thankless job.

May you live long , dear sir.

Thank God my newly acquired Golf 5 no dey consume.

The success witnessed in the liberalisation of the telecommunications industry in Nigeria today is the reason why I will always respect President Olusegun Obasanjo.
Same should apply in our Power and Oil Industry as well. We are yet to fully liberalise those sectors of the economy. Once that is done and we go through the rough patches at the initial period, the improvement we will witness in our economy will be unprecedented.

I just hope or wish we could have a no nonsense leader like Obasanjo when it comes to matters of this nature.

Government has no business in business. Regulation remains its sole responsibility and duty to its citizens. Until we realise that, we will keep running in circles.

Next level...change!

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

I get ur point, but is the govt of the day ready to fully take it off?

Pavarottii:

I get ur point, but is the govt of the day ready to fully take it off?

They better..especially as there would be savings of 1.5 trillion at least....or we will keep on taking loans to keep our head above water.

GEJ that partially removed subsides in 2012...netted enough savings for things like sure P.

Nbote:
Lolzzz... Welcum to d next level ppl... We already saw d writings on d wall even though d govt and ZonBs kept denying ... D only thing dat held dem back was d elections and now we can go to hell till 2023

exactly what i wrote before elections but zombies/callous,selfish,wicked humans turned blind eyes because of party.
i wrote then that there would be cow colony
i also wrote that there would be fuel price increase

i believe zombies know the truth and chose to be wicked

now the rain will fall on everyone

Telkart19:


1. The embezzeling is an issue....but then again, subsidy cabals chop our subsidy money.

Anyway, democaracy empowers one to ask questions, agitate, and fight for the right things to be done.

2.Libya has 5 -6 million people, and on a good day, produce more than three times what we produce here in Nigeria. So they have the cash for subsides, and a lot more. Algeria has 40 million people, and produce more oil than we do. Same thing.

the problem we have is refinery. if we have refinery, things will be easy, but unfortunately, they embezzled refinery money.

Telkart19:


They better..especially as there would be savings of 1.5 trillion at least....or we will keep on taking loans to keep our head above water.

GEJ that partially removed subsides in 2012...netted enough savings for things like sure P.

They would av allowed GEJ take it off fully and all of these problems would av been solved... My brother the canals stealing from subsidy in this country will not allow u guys take it off fully... Mark my words... Naija is doomed.

Bolustical:
Before you type rubbish. Read that news and point out where NNPC hinted a raise in the pump price.

So if a company says Nigerian garri is the cheapest in the world, it means there will be a raise in the price

they are just testing the waters to see ur reactions.
ur reactions will determine the fate of the intended increase

Pavarottii:

They would av allowed GEJ take it off fully and all of these problems would av been solved... My brother the canals stealing from subsidy in this country will not allow u guys take it off fully... Mark my words... Naija is doomed.

They should have...(it was around 2011//12 that I started seeing why subsidy had to go)...but the problem is not only do the cabals don't want it....Nigerians too don't like it either.

All Nigerians see is the potential price increase. Other benefits, they don't see.

princeade86:
the problem we have is refinery. if we have refinery, things will be easy, but unfortunately, they embezzled refinery money.

A big issue with refineries under a subsidy regime is that when you subsidise products...refineries don't make a profit.

We have been issuing refienries permits in this country for over 10 years...yet, people don't want to do because the cost of producing one liter of fuel is less than the price of N145 that government wants them to sell it at.(That's a big reason, in addition to the fraud at NNPC that NNPC too cannot build and upgrade refinereis...it isn't profitable to do so).

So, they would be running the refienries at a loss (Danogte is building a refienry because he has the money, plus he got some loans to top it up. Even then, I doubt he would be selling fuel at N145 per liter to marketers....he would lose money).

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

benekruku is the public relations officer (PRO) for RUGA settlements while u are for the fuel price increase. make una fear God in whatever u are doing

bigfish3k:


benekruku is the public relations officer (PRO) for RUGA settlements while u are for the fuel price increase. make una fear God in whatever u are doing

Please can you tell me where they are doing BMC things...I need the money...need to save for a Merc.

On a more serious note....

The cost of the fuel subsidy has continued to grow exponentially. This is partly due to the rising cost of fuel—which meant that the government had to spend even more to keep domestic prices low— and also due to Nigeria’s increasing population— which resulted in increased fuel consumption; together these pressures made the cost of the fuel subsidy unsustainable. The price of crude oil increased from 30.4 dollars per barrel in 2000 to 94.9 in 2010 over the same period Nigeria’s population increased from about 123 million to 158 million. By 2011, the fuel subsidy accounted for 30 percent of the Nigerian government’s expenditure and it was about 4 percent of GDP and 118 percent of the capital budget.

Nigeria’s fuel subsidy continues to crowd out other development spending. By comparison,, Nigeria’s total allocation for education is about $2.2 billion and it is not much higher for health care. Infant mortality in Nigeria remains unacceptably high at 90.4 per 1,000 live births. In 2004, it was estimated that only 15 percent of the country’s roads were paved. The $8 billion from the fuel subsidy could help to address some of these issues.

In addition, keeping the domestic price of oil artificially low with the fuel subsidy has discouraged additional investment in Nigeria’s oil sector. This is especially problematic given that the oil sector is the lifeblood of the Nigerian economy. Since 2000, Nigeria has issued at least 20 refinery licenses to private companies. However, not one refinery has been built because investors could not recoup their investment under the artificially low price structure.

By the way, I have been backing fuel subsidy removal since 2011....and I have never voted for APC or PDP in my life.

kingigwe1:
cos of 10k FG or buhari do pay u to type rubbish make u no get sense. Can't u eat d money and type like a human being with conscience. How many west Africa have oil as Nigeria, also what's d economic power of NaijA compare to ghana

been trying to bring out sense from this your quote,, I beg try explain the poo you just dropped

THE SIMPLE ECONOMICS THEORY IS THAT, YOU CANT PRODUCE PRODUCT AND STILL SUFFER FOR WHAT YOU PRODUCE LIKE WHO ARE NOT THE PRODUCERS.


BUHARI AND HIS HEGEMONY ARE BUNCH OF FAILURES

hmmmm it is so obvious that the next level they are talking about is a next level of white painted lies when fuel was at 97naira per litre we all went for Nationwide strike and now this one happened no strike but still yet all those hypocrite that were behind all this cannot talk it is better we all wise up and let's face facts not well painted and engineered lies

Telkart19:


Nigeria’s fuel subsidy continues to crowd out other development spending. By comparison,, Nigeria’s total allocation for education is about $2.2 billion and it is not much higher for health care. Infant mortality in Nigeria remains unacceptably high at 90.4 per 1,000 live births. In 2004, it was estimated that only 15 percent of the country’s roads were paved. The $8 billion from the fuel subsidy could help to address some of these issues.

In addition, keeping the domestic price of oil artificially low with the fuel subsidy has discouraged additional investment in Nigeria’s oil sector. This is especially problematic given that the oil sector is the lifeblood of the Nigerian economy. Since 2000, Nigeria has issued at least 20 refinery licenses to private companies. However, not one refinery has been built because investors could not recoup their investment under the artificially low price structure

SOURS

but they told us 2016 that at N145 , subsidy will be gone that we should infact expect a lower price in 6 months time because of the competitive advantage that the new investors will bring into the foray

GEEBITE:
Are they earning naira in Ghana. Obviously you havent heard about purchasing power parity.Nothing is expensive there,it is your country currency that has very low value.

travel and see okay,,even their citizens can't afford proper meal,,when some my dudes came to 9ja from GH,de testify,,, to dollar dem carry come get value here pass dia ,,convert the cost of a meal in a fast food in GH to dollar,,, its way higher than 9ja meals ,,my guy things changed high cost of living no only took a turn in 9ja,,na almost everywhere,,na unemployment be the problem we get

[color=#990000][/color]

Telkart19:
Good idea

Increase prices, and stop throwing N2 trillion down a drain every year.

In fact, it is better that NNPC stops controlling prices of petroloeum products. Instead, let the market set the price.

Yes..prices of stuff will go up. Yes, we will pay N200 and above for petrol

BUT....eventually, investors would flow in, investment will flow in, and more money will come, and eventually...more refienries, and LOWER PRICES FOR FUEL

Instead of us dashing subsidy cabals 2 trillion every year...let them work for their money. Government can use the savings for things like educaiton, health, etc.

P;S If you quote me to abuse me, I will report you to the mods. I have a right to my opinions.


[url=http://www.eria.org/Chapter%208-Impact%20of%20Fuel%20Subsidy%20Removal%20on%20Government%20Spending.pdf]
SAUCE[/url]

Instead of encouraging the Government to increase pump price of PMSwhy not encourage them to improve on the situation of our electricity.. Can't constant electricity bring about inflow of foreign investors?... We be careful while give advice. Thank you

Telkart19:


Please can you tell me where they are doing BMC things...I need the money...need to save for a Merc.

On a more serious note....



By the way, I have been backing fuel subsidy removal since 2011....and I have never voted for APC or PDP in my life.

if u are not a BMC, please stop repeating all the fake economic jargons they reeled out in 2016 to deceive us when they wanted to increase fuel price to N145. non of the jargons worked
let them compare what they told us in 2016 to what is happening now before telling us another story. we are not fools

TheWrita:
Who is the 6th biggest oil producer in the world?You guys defend evil and incompetence.

oil wen d price crash by more than 100%and ur country depends on just oil�

bigfish3k:


but they told us 2016 that at N145 , subsidy will be gone that we should infact expect a lower price in 6 months time because of the competitive advantage that the new investors will bring into the foray

1. In 2016...it cost N132 to import one liter of fuel. Fuel was costing N87 at the pump....thus the government removed subsidy by raising prices to N145.....which eliminated the N40-50 subsidy being paid per liter.

2.However....subsidy was still in place. Because...the government was still setting the price.

3. Note...governments have been doing this in Nigeria since the 1970's....they remove subsidy, set a price, and keep fuel at that price till the cost of production or importation rises above the set price...then they pay a subsidy to maintiain it at that fixed price...till it becomes unsustainable...at which prices shoot up again...to a new set price...and the show continues.

4. Now...landing costs is N200. Government is selling fuel at N145...and paying underrecovery (subsidy) of N55-60 PER LITER.

5.However, as fuel prices are too low...and revenue is falling...the subsidy has to go again. So...goverment may have to raise prices.

6.iDEALLY....government should stop setting prices, and allow the petrol makreters to set what price they see fit. Problem is, prices may shoot as high as N300..BUT...since no one is controlling prices, that makes things like new refienreis possible...and crucially profitable.

7.Investors flow in, more refienries etc get built...and production icreases...meaning prices FALL.