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Nairaland Forum / Nairaland / General / Politics / TUC Tackles Sylva As FG Says Fuel Price Increase Looms (12367 Views)
Sanusi Knocks NNPC, Says Fuel Consumption Figures Unbelievable / Border Closure: Ibrahim Ciroma Says Fuel Consumption Dropped By 70% In Adamawa / Zainab Ahmed Says Fuel Subsidy To Gulp N450 Billion In 2020 (2) (3) (4)
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by tnerro1(m): 6:22am On Feb 10, 2021 |
They will soon sell the country to Dangote |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Btruth: 6:23am On Feb 10, 2021 |
For those who continue to have love for Buhari, Tinubu, and other APC chieftains probably because of what you are getting or gaining from them. You all are DAMN! Pains, sorrow, unhappiness and other bad things will always be your portion. Because you guys are really suffering us everyday in this country. If some people can try and manage, what about countless of people that cannot manage. So many parents are out there that doesn't know how to cope again. I've seen so many adults always in tears of tired on been alive. Countless of youths on the streets not knowing what else is next for them. Yet, you our so greedy leaders continue to punish us. God will not give any of you joy! Make una continue. I don't know how it will happen oooo, but I know for sure that pains, sorrowful, and unhappiness is looming at everyone that is contributing to the downfall of this country. Awon oloriburuku gbogbo. 2 Likes |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by lamentor78(m): 6:28am On Feb 10, 2021 |
miracood: Who will help you now |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 6:28am On Feb 10, 2021 |
Esseite: Then he should have removed subsidy completely. Some Buharists too would say the same thing, when their man Bubu is repeating the same errors. The subsidy has to go. Or we just keep on wasting money. |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Brushstrokes20: 6:35am On Feb 10, 2021 |
Only a red revolt can salvage the shithole from the diabolic claws of these self serving THIEVES and sadistic RULERS! The shithole urgently needs a Kaduna nzeogwu! |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Btruth: 6:37am On Feb 10, 2021 |
Vardanes2:I'm so upset that I still don't get you. |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by BigSam13: 6:53am On Feb 10, 2021 |
Kudos to Adam oshiomole when he was NLC president |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by surgical: 7:05am On Feb 10, 2021 |
[quote author=Vardanes2 post=98919714]Well, Nigeria has no choice but to increase fuel prices. In the begining, in the name of subsidy, we sold petrol at a price below the cost of producing it per liter...which led to there not being enough to pay for repairs and upgrades to our refineries. Then when the refineries went down the drain, we began importing, and we sold the petrol at a price below the import price, which led to us running out of money and getting into debt. At some point, we have to face reality. Do we want to continue subsidy and run out of money, and keep on getting into more debt, or do we want to remove it, yes, fuel will be expensive, but more investment and new refineries would come in...and eventually prices go down, plus we become a mass exporter? Let's stop lying to ourselves. Oil subsidy must go. Yes, Buhari is bad,yes all the polticans are bad, but it is also bad business practice to sell a product below the price of its cost, and force NNPC to spend the cash it could have used to repair the refineries, and upgrade them, and even build new ones , on paying subsidy costs. We are doing the same thing in the power sector. And we don't have light as a result. Modified Source:Subsidies Are the Problem, Not the Solution, for Innovation in Energy[/url][/quotey] you are very unintelligent with your comment,there is subsidy all over the world,so it's not bad if Nigerians have some too,thpugh not in petroleum because the problem here is the government refusal to refine petrol in Nigeria because it is not in their interest,once petrol is refined in Nigeria price will crash and dollars will firm up.tell your master to do the right thing and stop taking us for granted 2 Likes |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by iykee101(m): 7:18am On Feb 10, 2021 |
Its crystal clear that GOODLUCK EBELE JONATHAN should re elected and NIGERIANS who worked against him have seen it now,a true leader must always be ready to carry everybody along but APC is after borrowing,increasing of products and commodities,suffering of the masses and never had any good agenda,what a party,may God save us from their hand till their useless tenure finishes. 3 Likes |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by COMPAQ(m): 7:27am On Feb 10, 2021 |
Esseite: See how Nigerians forget so soon. You've forgotten the queue under Jonathan, the subsidy frauds under Jonathan? |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by elmessiahs(m): 7:30am On Feb 10, 2021 |
COMPAQ:face your front |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 7:31am On Feb 10, 2021 |
COMPAQ: Yes I remember the queues to get it cheaper, I cant even afford it now.. just maybe there was no subsidy fraud par say, could have just been subsidy payments above $100 crude price. 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by iykee101(m): 7:33am On Feb 10, 2021 |
A country that are blessed with mineral/natural resources,at first are we suppose to carrying crude oil to go outside to refine while we have a refineries here,cnt our governmment put it in order?what happened to looting money recovers,what are they using it for?thats to show that our government are corrupt and is hightime we youths should look for a lasting solutions to these because we cnt continue to be suffering like that while few greedy set of persons will be enjoying,enough of that 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by COMPAQ(m): 7:36am On Feb 10, 2021 |
I've been in US since July last year and a gallon then was $1.55. Now its $2.05. That's almost 30% increase in 7 months because of increase in crude. Many Americans are also out of job and suffering due to pandemic. Agreed they have some government support, but they will all tell you its not enough. Besides here they pay all manner of taxes. We gree pay tax for Nigeria? Just recently did we manage to increase vat to 7.5%, meanwhile sales tax here on everything I buy is 8.25%. Meanwhile this is a country that's has budget almost 300 times that of nigeria. We cannot afford subsidy. Its common sense. The conversation should be what else to be done to manage the brunt. For those who pay no formal tax, that should be their own tax. 1 Like 1 Share |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 7:49am On Feb 10, 2021 |
surgical: Well petrol can.be refined in Nigeria, but subsidy hass to go first Once aubsidy goes, petrol would be sold profitably Said profits can be reinvested That is something you should tell your masters Buhari and GEJ as i don't back pdp or apc |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by israelmao(m): 7:53am On Feb 10, 2021 |
Some people will still come up and praise this woeful failure in their sycophantic and hypocritical manner. |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 7:53am On Feb 10, 2021 |
Btruth: Well, in 2012, we was selling fuel at N97. It cost N99 to import that fuel Subsidy of 2 naira per liter was paid by government to keep prices low By 2015, it cost N132 to import fuel Fuel was being sold at N87 Government paid a subsidy of N42 to keep prices low Now fuel costs N190 to import, and N162at the pump See a pattern? Plus no profits are being made, plus NNPC uses most of its money to import and pay suabidy costs which is why it cant afford new refineries 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by 400billionman: 8:02am On Feb 10, 2021 |
If the refineries were functional, fuel pump price will not increase when crude oil price increases. This is because you have the product and refine it by yourself. In this case you sold all the raw materials to foreigners at the prevailing high prices, so you should provide for the increase in prices that will accompany importing finished products. Always wasting scarce resources. The only thing they excel in is giving excuses. Now the non functional refineries are there accumulating maintenance costs yet you cannot find buyers for these wasteful assets. Are you people under spell ? |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 8:14am On Feb 10, 2021 |
COMPAQ: The queues and subaidy frauds happened because 1. Until 2017 everyone could import fuel with a permit 2.Government then paid importers part pf the subsidy costs 3. Because subsidy costs are not static, it was becoming difficult for the government to pay subsidy costs over time. 4. As a result many businesspeople engaged in subsidy scams. Without them many petrol businesses would have collapsed. So people lied about importing fuel 5.Why they were doing it was because many marketers were importing fuel and selling it at a loss. Ideally the subsidy payments would have covered their losses but in practice it didn't because rising oil prices meant rising costs 6.That is also why many marketers were smuggling fuel to Niger and Benin . It is alsi the reason why scarcity of fuel was commonplace. It was difficult to import fuel at N99 and sell at N65 which wasghe situation in 2011 ending 7. It ia also why we dont have refineries. Subsides on fuel dating back to the 1980s meant that overtime NNPC wasnt making the type of profit needed to fix and upgrade refineries and add new ones 8Jonathan tried to stop all that by rasing prices from N65 to N141. This would have ended all the queues and scams by making petrol profitable. But Nigerians said no GEJ wasn't a good leader, but the issues arising from fuel subsidy were not his fault 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by deavicky(m): 8:17am On Feb 10, 2021 |
miracood:are you looking for help or where to borrow money? If it is borrow, and you are sure of paying in month time, there are lots of online money lenders. You try them. 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Cantonese: 8:26am On Feb 10, 2021 |
Vardanes2: “More difficult to refine fuel at home”. Having promised us that our refineries would work upon voting him, has he not become a monumental failure? One may ask: if he has been able to obtain loans in billions of dollars to fund the railways, why did he not obtained loans to fix the refineries knowing the importance of that sector to the lives of Nigerians? 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 8:28am On Feb 10, 2021 |
Vardanes2:correct me if am wrong, but I thought subsidy payment provisions was made in our budget year after year? And our refineries are not working because of executive corruption and nothing else- it's not about petrol subsidy but corruption of those in power. If the federal government takes over fully NLNG today,give it 5 years and that cash cow will run aground like NNPC 1 Like |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Btruth: 8:30am On Feb 10, 2021 |
Vardanes2:Understood now. But, ....... .......why can't we just for once focus on getting our refineries working. Even if it's only one of them? Don't you think so? |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 8:34am On Feb 10, 2021 |
Btruth: If we want working refinereis, we also have to allow the refinreis sell fuel at a price above the cost of production so that they can make a profit which would be used to keep the refinery running Even if it means fuel at 200 per liter. |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 8:36am On Feb 10, 2021 |
eduj: Just because government says there is no subsidy doesn't mean that they are telling the truth. Also subsides lend themselves to corruption as i explained upthread. The corruption is a symptom of the problem. It is not the whole problem |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 8:43am On Feb 10, 2021 |
Cantonese: For Buhari to make refining work at home, hr would have to agree to allowing the price of fuel to be determined by the marketers not the government and end subsidy completely That means higher prices which is politically expensive. But in the long run good for our economy As for loans, this is not an excuse for buhari please, but with oil prices ranging between $20 and 80 since he took over, plus we have a breakeven price of 133 dollars up from 122 dollars in 2012, taking loans was inevitable Which is a big reason for buhari removing subsides. He didn't. One of several.bad economic decisions he has taken |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Btruth: 9:00am On Feb 10, 2021 |
Vardanes2:I see. Won't that be better, than continue importing fuel? Though, our administrators can never be trusted without embezzling the whole funds. Nigeria my country. How did we get here gan self? |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by nan1: 9:08am On Feb 10, 2021 |
GOD WILL PUNISH BUHARI AMEN GOD WILL PUNISH ALL HIS GENERATIONS AMEN GOD WILL PUNISH ALL HIS AQUITANCIES AMEN ALL THE PAINS THEY INFLICTED ON NIGERIANS THEY WILL GET IT IN 100 FOLDS AMEN ALL THE INNOCENT BLOOD THEY SHED WILL BE REQUIRED FROM THEIR HANDS AMEN AMEN AND AMEN |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by FinanceHub: 9:18am On Feb 10, 2021 |
deavicky: Please contact us if you need a quick loan. Conditions You must be resident in Lagos You must be a salary earner financeandloanshub@gmail.com WhatsApp: +234 904 727 6819 |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Cantonese: 9:24am On Feb 10, 2021 |
Vardanes2: Thank you very much. You gave the clarification. |
Re: TUC Tackles Sylva As FG Says Fuel Price Increase Looms by Nobody: 10:33am On Feb 10, 2021 |
deavicky: For help |
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