This subsidy money can build several modular refineries

What this government want is to push citizens to the point that they don't react or say anything to what ever the government is doing. No people don't care again. Can't we just reject this budget

saajus:
Benin Rep is 316 Naira/Liter
Togo is 334 Naira/Liter
Ghana is 348 Naira/Liter
We are subsidizing for those countries.
Smugglers Buy 142 Naira in Nigeria, divert to Benin and sell for 316 Naira. Some of them do 2 tankers of 20k liters each per week. Some go as far as Ghana. Tbh, the government must do something. Tighten up our borders and check those oil companies declaring fake sales or remove it totally and refund poor people as a tax return at the end of the year. No Nigerian will trust Govt for refunds or promises of using the subsidy money for infrastructure if it was removed.

you're a useless boy to include Ghana. Do you think we care or think about your useless country or fuel in Ghana.Do you see Ghana crying that you have locked your border so open it.What we see is the hypocrisy of you Nigerians who defy ECOWAS orders to open the border buh when Ghana makes a law to prevent foreigners from doing retail and businesses in Ghana,your own government and people run to these same ECOWAS and cry to them that Ghana is doing protectionism and driving so called ECOWAS members out of our own country. Come and see millions of Nigerians doing businesses and living and working in Ghana in the name of ECOWAS free movement buh you're there bullying Benin Republic and Niger because they have weak economy and population. Why don't you try that nonsense with Cameroon who is your neighbors, smuggles all your petrol out of your country but is not even a member of ECOWAS. You like to bully weak countries. The taxes we pay in Ghana, you people can't survive a week with that taxes in your poverty capital of the world country. That's how we manage to get 24/7 electricity, water always flowing without digging borehole,free education nationwide, highly subsidized farming thus high yields to export to neighboring countries and fastest growing economy in Africa.Togo is also our neighbors and operate a free port system.Have you seen Ghanaians crying because Togolese and Beniniores are smuggling cheap stuffs into our nation.No because our security border posts are extremely serious.The only thing they manage to smuggle into the country is second hand clothes. And we have the second largest economy and market in West Africa.Cry your own cry mister.

nothing call subsidy, they insisted during GEJ era

Yes o. Increase fuel price. That's what this govt is good at...inflicting more pains on the masses. I'm glad people who voted for this govt aren't spared in the hardship.
Where are all the sai barbarians?

chrisagyei:
you're a useless boy to include Ghana. Do you think we care or think about your useless country or fuel in Ghana.Do you see Ghana crying that you have locked your border so open it.What we see is the hypocrisy of you Nigerians who defy ECOWAS orders to open the border buh when Ghana makes a law to prevent foreigners from doing retail and businesses in Ghana,your own government and people run to these same ECOWAS and cry to them that Ghana is doing protectionism and driving so called ECOWAS members out of our own country. Come and see millions of Nigerians doing businesses and living and working in Ghana in the name of ECOWAS free movement buh you're there bullying Benin Republic and Niger because they have weak economy and population. Why don't you try that nonsense with Cameroon who is your neighbors, smuggles all your petrol out of your country but is not even a member of ECOWAS. You like to bully weak countries. The taxes we pay in Ghana, you people can't survive a week with that taxes in your poverty capital of the world country. That's how we manage to get 24/7 electricity, water always flowing without digging borehole,free education nationwide, highly subsidized farming thus high yields to export to neighboring countries and fastest growing economy in Africa.Togo is also our neighbors and operate a free port system.Have you seen Ghanaians crying because Togolese and Beniniores are smuggling cheap stuffs into our nation.No because our security border posts are extremely serious.The only thing they manage to smuggle into the country is second hand clothes. And we have the second largest economy and market in West Africa.Cry your own cry mister.

Very well said....why disobey the free trade ecowas agreement? Naija is a useless country

Instead of strengthening border security...they close border...height of madness...and zombies are clapping for their mumu oga

A Buhari worshipper spotted. When they want to justify their god's actions, they start quoting how much higher petrol price is in other countries and making baseless comparisons. Bunch of delusional fools

saajus:
Benin Rep is 316 Naira/Liter
Togo is 334 Naira/Liter
Ghana is 348 Naira/Liter
We are subsidizing for those countries.
Smugglers Buy 142 Naira in Nigeria, divert to Benin and sell for 316 Naira. Some of them do 2 tankers of 20k liters each per week. Some go as far as Ghana. Tbh, the government must do something. Tighten up our borders and check those oil companies declaring fake sales or remove it totally and refund poor people as a tax return at the end of the year. No Nigerian will trust Govt for refunds or promises of using the subsidy money for infrastructure if it was removed.

Una never see anything yet.

pinkcottoncandy:



Very well said....why disobey the free trade ecowas agreement? Naija is a useless country

Instead of strengthening border security...they close border...height of madness...and zombies are clapping for their mumu oga

How easy for u to call another country useless ?pls man respect our country.

Racoon:
What is fuel subsidy and who is subsidizing what? Thought Mr.President said "Fuel subsidy is a fraud?"

Because Buhari, like most Nigerians then and now do not understand subsidies. So long as government sets the price of any commodity, they are paying a subsidy.

Alternatively, there was a lot of corruption in the subsidy process in 2013...what with people making subsidy claims for fuel not imported (loophole now closed by making NNPC the sole importer of fuel)...and the smuggling across the border (then, as now a problem).

wonder233:
A Buhari worshipper spotted. When they want to justify their god's actions, they start quoting how much higher petrol price is in other countries and making baseless comparisons. Bunch of delusional fools

Well, he is also a GEJ worshipper, since GEJ tried to (partially) remove subsides by raising the price of fuel from N65 to N140 in 2012 (later knocked down to N97 and then N87 in 2015).

The problem is, many marketers and depot owners are taking advantage of the subsidy regime to

1.Buy fuel from government at N137 ...THE depot price

2.Sell across the border at N300 and above....which nets them a good profit.

3.While NNPC pays them a subsidy of N63 per liter of fuel.

4.Meanwhile, most refienry licencees don't want to build new refinereis because it costs at least N165 to refine one liter of fuel in Nigeria. And they would be operating at a loss.

The truth is, we have to remove subsidy. Just as GEJ intended, but you Nigerians, both his supporters and opponents opposed.

eclecticbaron:
Yes o. Increase fuel price. That's what this govt is good at...inflicting more pains to the masses. I'm glad people who voted for this govt aren't spared in the hardship.
Where are all the sai barbarians?

Why should we waste at least N450billion on subsides ??

And note, that is an estimate...which might go up, because fuel consumption in this country is not static, it is increasing. We could end up spending nearly a trillion naira or more on subsides.

Plus, subsides are prone to corrption, plus people take government subsidy money and then smuggle fuel across the border.and earn a profit.

Plus, if Dangote's refinery comes on stream, he would be refining fuel for at least N165 per liter. And we expect him to lost N25 or more per liter of fuel sold in Nigeria??

GEJ had it right in 2012...oil subsidy must go. That N450billion can be used for keeping school fees in government schools and universites low.

oz4real83:
This subsidy money can build several modular refineries

Well, the refineries won't operate at a profit so long as fuel prices are below N145 per liter.

ednut1:
When will dangote refinery kick start na and is the fg going to pay him subsidy in form of cheap crude too

1.2020

2.I doubt government is going to pay him cheap subsidy in the form of fuel. The government may either remove subsidy, or Dangote will sell his fuel abroad.

Idiots.

saajus:
Benin Rep is 316 Naira/Liter
Togo is 334 Naira/Liter
Ghana is 348 Naira/Liter
We are subsidizing for those countries.
Smugglers Buy 142 Naira in Nigeria, divert to Benin and sell for 316 Naira. Some of them do 2 tankers of 20k liters each per week. Some go as far as Ghana. Tbh, the government must do something. Tighten up our borders and check those oil companies declaring fake sales or remove it totally and refund poor people as a tax return at the end of the year. No Nigerian will trust Govt for refunds or promises of using the subsidy money for infrastructure if it was removed.

The thing is, subsidy has to go.

Yes, things would be harsh, but that means all the private refinery operators would get to work building their refienreis, production will go up, and prices would fall.

wonder233:
A Buhari worshipper spotted. When they want to justify their god's actions, they start quoting how much higher petrol price is in other countries and making baseless comparisons. Bunch of delusional fools

Dont mind them

Insisting on calling fuel subsidy under recovery shows how far the Buhari govt is willing to go to decieve Nigerians and itself about the reality

PoliticalWitch:


Why should we waste at least N450billion on subsides ??

And note, that is an estimate...which might go up, because fuel consumption in this country is not static, it is increasing. We could end up spending nearly a trillion naira or more on subsides.

Plus, subsides are prone to corrption, plus people take government subsidy money and then smuggle fuel across the border.and earn a profit.

Plus, if Dangote's refinery comes on stream, he would be refining fuel for at least N165 per liter. And we expect him to lost N25 or more per liter of fuel sold in Nigeria??

GEJ had it right in 2012...oil subsidy must go. That N450billion can be used for keeping school fees in government schools and universites low.

I agree with you. But unfortunately this administration is not sensitive at all. Common minimum wage of N30k is a hustle for the govt to implement. But watch out how they'll use the speed of light to increase fuel price. Like you've already said, ''N450b is just an estimate'', last last it might gulp up to a trillion and this was one of the main things this APC govt used in campaigning. Today they are doing the very same thing they were supposed to stop only this time even worse.

Seems fair enough...

It used to be in trillions...

All I see is millions and billions.

chrisagyei:
you're a useless boy to include Ghana. Do you think we care or think about your useless country or fuel in Ghana.Do you see Ghana crying that you have locked your border so open it.What we see is the hypocrisy of you Nigerians who defy ECOWAS orders to open the border buh when Ghana makes a law to prevent foreigners from doing retail and businesses in Ghana,your own government and people run to these same ECOWAS and cry to them that Ghana is doing protectionism and driving so called ECOWAS members out of our own country. Come and see millions of Nigerians doing businesses and living and working in Ghana in the name of ECOWAS free movement buh you're there bullying Benin Republic and Niger because they have weak economy and population. Why don't you try that nonsense with Cameroon who is your neighbors, smuggles all your petrol out of your country but is not even a member of ECOWAS. You like to bully weak countries. The taxes we pay in Ghana, you people can't survive a week with that taxes in your poverty capital of the world country. That's how we manage to get 24/7 electricity, water always flowing without digging borehole,free education nationwide, highly subsidized farming thus high yields to export to neighboring countries and fastest growing economy in Africa.Togo is also our neighbors and operate a free port system.Have you seen Ghanaians crying because Togolese and Beniniores are smuggling cheap stuffs into our nation.No because our security border posts are extremely serious.The only thing they manage to smuggle into the country is second hand clothes. And we have the second largest economy and market in West Africa.Cry your own cry mister.

so for your mind now, you have opinions and you just aired em?? Well bro down here we don't really give a bleep about Ghana.. First pay up your electricity and gas supply debt to FRN, only then we can talk. We no be mate!!! Jealous and hateful slowpoke!!

pinkcottoncandy:



Very well said....why disobey the free trade ecowas agreement? Naija is a useless country

Instead of strengthening border security...they close border...height of madness...and zombies are clapping for their mumu oga

another fool, who thinks opposition is all about insulting the president's decisions, either Good or bad.

slade31:
so for your mind now, you have opinions and you just aired em?? Well bro down here we don't really give a bleep about Ghana.. First pay up your electricity and gas supply debt to FRN, only then we can talk. We no be mate!!! Jealous and hateful slowpoke!!

so your illiterate fulani president lied to you that you provide Ghana electricity. Your misery in that Godforsaken country of yours is legendary!!.You can't even access 12 hours a day of electricity but you provide electricity to a nation of 30 million who produce very similar amount of electricity compared to the country of over 200 million cows,sorry human beings. Mind you that Nigeria has never produced more than 5,000 megawatts of electricity and it has been hoovering around 2,000 megawatts of electricity compared to Ghana who produce more that 3,000 megawatts of electricity and enjoy 24/7 electricity throughout the year.How much do we owe you for gas ?Am listening. Have you thought about your over 80 billion dollars debts your zoo owes before coming to us for an unexisting and imaginary debts .Oh and we don't give a f**k about your zoo in Ghana too.I only responded to one cow,sorry human being who mentioned Ghana, The Black Star of Africa in his useless comment so don't bring yourself.

chrisagyei:
so your illiterate fulani president lied to you that you provide Ghana electricity. Your misery in that Godforsaken country of yours is legendary!!.You can't even access 12 hours a day of electricity but you provide electricity to a nation of 30 million who produce very similar amount of electricity compared to the country of over 200 million cows,sorry human beings. Mind you that Nigeria has never produced more than 5,000 megawatts of electricity and it has been hoovering around 2,000 megawatts of electricity compared to Ghana who produce more that 3,000 megawatts of electricity and enjoy 24/7 electricity throughout the year.How much do we owe you for gas ?Am listening. Have you thought about your over 80 billion dollars debts your zoo owes before coming to us for an unexisting and imaginary debts .Oh and we don't give a f**k about your zoo in Ghana too.I only responded to one cow,sorry human being who mentioned Ghana, The Black Star of Africa in his useless comment so don't bring yourself.

keep deceiving yourself, when we're done with Benin �� and Niger ��, then we'll have your time.

Fraud!!! What happen after increase of fuel from 87 to 145 na wao this is a dubious govt

Sermons everywhere

Fuel subsidy! Herein lies the biggest scam in the history of Nigeria

How can you subsidize a product that you don't even know how much we actually consume!!

This figure has been passed down from administration to administration. Officially, the pump price is 145 naira however marketers in a bid to out-compete themselves sell at 143 naira. How is this possible with a subsidy? A subsidy means that the stations sell at a price lower than the actual price while the government covers the extra cost as a palliative. Is the government then paying this additional 2 naira or what?

What is the actual cost of PMS imported. The biggest question is what are we still importing petroleum products 5 years into an administration that campaigned to stop it!!!!!! Bull crappp

Enyimbamercedes:
Fuel subsidy! Herein lies the biggest scam in the history of Nigeria

How can you subsidize a product that you don't even know how much we actually consume!!

This figure has been passed down from administration to administration. Officially, the pump price is 145 naira however marketers in a bid to out-compete themselves sell at 143 naira. How is this possible with a subsidy? A subsidy means that the stations sell at a price lower than the actual price while the government covers the extra cost as a palliative. Is the government then paying this additional 2 naira or what?

What is the actual cost of PMS imported. The biggest question is what are we still importing petroleum products 5 years into an administration that campaigned to stop it!!!!!! Bull crappp

Actual cost of PMS imported N 200 per liter

Cost NNPC sells it to depots : N137-140 per liter

Cost depot sells it to marketer : N141

Cost marketer sells it N145.

Why are we importing fuel

1. Because Nigerians insist on low fuel prices.

2.Because no one is going to come and refine fuel at N165 per liter, and then sell it to marketers below N140, losing at least N25 per liter (that's why most licencees of refienreis haven't broken ground...except for Dangote, and a few others.).

3.Because, even if NNPC refineries are all fixed...they can meet domestic need only if the number of cars and generators and other PMS users is at 1986 level. (The last refinery was built in 1988).


So, in other words, if Government wants to solve the fuel crisis, they have to remove subsides, meaning Nigerians pay N300 per liter or more for fuel...which while breeding harship, will save N450 BILLION a year, and also make people come in and build more refineries, increasing production, and by extension the price of PMS.

saajus:
Benin Rep is 316 Naira/Liter
Togo is 334 Naira/Liter
Ghana is 348 Naira/Liter
We are subsidizing for those countries.
Smugglers Buy 142 Naira in Nigeria, divert to Benin and sell for 316 Naira. Some of them do 2 tankers of 20k liters each per week. Some go as far as Ghana. Tbh, the government must do something. Tighten up our borders and check those oil companies declaring fake sales or remove it totally and refund poor people as a tax return at the end of the year. No Nigerian will trust Govt for refunds or promises of using the subsidy money for infrastructure if it was removed.

These smugglers do they use airplanes to smuggle the fuel?
Is it not the same govt officials at the border that check them out with egunje.
Buhari said subsidy is fraud so how come he is paying this fraudulent thing?

That is the question, not how nigerians dey hustle just to make daily pay.

chrisagyei:
you're a useless boy to include Ghana. Do you think we care or think about your useless country or fuel in Ghana.Do you see Ghana crying that you have locked your border so open it.What we see is the hypocrisy of you Nigerians who defy ECOWAS orders to open the border buh when Ghana makes a law to prevent foreigners from doing retail and businesses in Ghana,your own government and people run to these same ECOWAS and cry to them that Ghana is doing protectionism and driving so called ECOWAS members out of our own country. Come and see millions of Nigerians doing businesses and living and working in Ghana in the name of ECOWAS free movement buh you're there bullying Benin Republic and Niger because they have weak economy and population. Why don't you try that nonsense with Cameroon who is your neighbors, smuggles all your petrol out of your country but is not even a member of ECOWAS. You like to bully weak countries. The taxes we pay in Ghana, you people can't survive a week with that taxes in your poverty capital of the world country. That's how we manage to get 24/7 electricity, water always flowing without digging borehole,free education nationwide, highly subsidized farming thus high yields to export to neighboring countries and fastest growing economy in Africa.Togo is also our neighbors and operate a free port system.Have you seen Ghanaians crying because Togolese and Beniniores are smuggling cheap stuffs into our nation.No because our security border posts are extremely serious.The only thing they manage to smuggle into the country is second hand clothes. And we have the second largest economy and market in West Africa.Cry your own cry mister.

What is this punk saying?

You don't know that fuel is being smuggled from Nigeria to Ghana?

You must be quite ignorant then