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Sheriffman's Posts

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PoliticsRe: #occupynigeria Protest Goes Cyber. Govt Officials Private Numbers Released by sheriffman(f): 6:10pm On Jan 06, 2012
now where are d supporters of subsidy removal @ this point in time?u can all hide ur face in shame as we are taking over.occuppy nigeria has started.this is a battle fgn cannot win join b4 its too late.
PoliticsRe: #occupynigeria Protest Goes Cyber. Govt Officials Private Numbers Released by sheriffman(f): 6:08pm On Jan 06, 2012
Tell Diezani Alison Maduekwe how you feel - 08034025013.
Tell David Mark how you feel – 08035008888
Femi Otedola is one of the cabal text or call him 2 pass ur msg to GEJ – 07030000222
Tell Gov Yakowa how u feel 08033146646
Tell Gen Azazi how you feel – 08085858541
Tell Sen Bala Muhammed how u feel – 08051009192
Tell Gov Yuguda how u feel 07058626004
Tell Rotimi Amaechi how you feel – 07088980000
Reno Omokri's Boss : Oronto Douglas - 08055077077, 08033003890.
08036651111 tel Gov. Kwankwaso of kano state
Tell Adams Oshiomole how u feel 08055554448
08035897127 the phone number of Minister of information Labaran Maku. Don't call he won't answer. Send a text on how you feel about Subsidy!
Senator Lado kano central 08033111188
Pass the message direct to GEJ via his ADC Col Adegbe - 08036350313
PoliticsNoi And Sls. Why Did You Do This To Us? Why Did You Let Us Down? by sheriffman(op): 11:04am On Jan 04, 2012
AN OPEN LETTER TO Mrs. Ngozi Okonjo Iweala and Mr. Sanusi Lamido Sanusi

I would have wanted to also address in this letter, Mrs. Diezani Allison Maduekwe and Dr Goodluck Ebele Jonathan, but, since Nigerians don’t really know who you people are, except that Mrs. DAM was one of the top-staff in Shell, and is the First Minister of Petroleum Resources in Nigeria at least according to her twitter page (@diezanimadueke). And for Dr. GEJ, the only thing we know about you is that you are the incumbent and “SERVING” President of the Federal Republic of Nigeria. Oh, and also, that you had no shoes. Apart from that, for the two of you, we really don’t know who you are, and we are yet to know what you stand for or against. We are still looking, so, we can’t talk much.

As for Mrs NOI, and Mr. SLS, Nigerians don’t really know who you are anymore. Who are you people really? And are you truly for us or against us? Are you black or white? Please let us know. In this letter we will only address Mrs. NOI.

Ma, on the 7th of February, 2010, at the 5th Annual the Future Awards, Nigerian youths were gathered and you revealed to us something we didn’t know about ourselves. The Nigerian youth comprises 70 percent of the Nigerian population. Our mouths opened and could not close and we listened with rapt attention as if we are sharing some earth-shattering discovery. You automatically became our Hero, and we almost worshipped you. You became the father, the mother, and the much-needed mentor we never had. You gave us identity; you told us that Nigerians belongs to us, and not just to the 30percent. You said that we should demand good governance and accountability and we should fight for our rights even if it means peaceful protests. We believed you wholeheartedly and @EiENigeria (Enough is Enough Nigeria) was formed. @GbengaSesan, @Chude, @Bubusn, @AbangMercy, and others ran with the vision. You said we should fight for Truth and Justice. In case you don’t know Mum, we listened to you. We have braced ourselves up against corruption; we have armed ourselves with truth. We now demand transparency.

Fast-forward to 2011. We have heard so-many of your arguments for the removal of the subsidy. We too don’t support the subsidy of inefficiency and corruption but because you have taught us to read, question, and demand transparency, we have dug up facts, we have dusted Nigerian history, we have read about other Countries, we have given counter-arguments, we have proposed alternatives, we have made our case known. Mum, we have done everything you told us to do on that fateful day, 7th of February, 2010, but Mum, you became our Enemy. You betrayed us.

Firstly, when you were presented with the KPMG independent Audit, you studied it, we all studied it. With all the massive irregularities, monumental fraud, and leakages in the Nigerian Oil Sector as highlighted, we expected a strong statement and reaction from you, yet you turned a blind eye to this, instead blaming an unidentifiable cabal. Now, that report is dead. No one sacked, no one jailed, no one resigned. Mummy, why?

Firstly, Mummy, you are quick to compare Nigeria with other countries, saying Indonesia, Malaysia, and Iran removed subsidy, so, Nigerians too can remove subsidy with appropriate safety nets. What you refused to tell Nigerians is that before Indonesia removed subsidy, the price was N29 per litre and after staggered and step-by-step removals over Years it became N87 per litre. Also, you intentionally didn’t tell Nigerians that it was because their Oil reserves were dwindling and they have become a net importer of oil (i.e. they needed to import Crude at international prices) is why they considered removing subsidy. Nigeria produces enough Crude Oil to cater for its domestic needs. Iran, also was selling Fuel to its Citizens for N15 per Litre which increased to N60 per Liter after subsidy removal. Also, you didn’t tell us that Malaysia spends $14 billion US dollars and Iran spends $45 billion US dollars yearly on Fuel Subsidy as compared to Nigeria’s spending of $9 billion US dollars as at the time they removed their Subsidy. Ma, you also didn’t tell us that Iran, Malaysia, and Indonesia were subsidizing for their citizens below the cost of refining, while Nigeria was subsidizing for her own citizens the cost of not refining.

Secondly, Ma, you told us that the cost of Fuel in Nigeria is one of the lowest in the World. Ma, what you tried to hide from us is that you were comparing us with non-Oil producing countries. At N65, we have the 14th cheapest Petrol in the world but the 3rd most expensive in OPEC. Angola is a Country just out of war, same as Iraq. We are not just out of a War! After the removal of the Subsidy, Nigeria will be 42nd place in the world around Countries like Russia, China, Peru, Jordan, Taiwan, and the United States. In OPEC, we will probably the most expensive or competing with POST-WAR Iraq and Angola. Also, you refused to tell us about the standard of living in these other countries you are comparing us with. Nigeria is struggling to pay N18,000 minimum wage while average monthly salary of Kuwaiti employees is around ($3,650) i.e N551,150.

Thirdly, you told us Ma that the cost of Fuel will be N120 after the removal of Subsidy but a quick visit to the PPPRA shows that the Landing cost of Fuel without the Distributor’s margin is N131, and the Distributors margin around N9.34. What magic in the world did you want to perform to bring it down to N120? Will the refining company or shipping company run at a Loss?

Ma, you have taught us to ask questions, so we will do some simple Mathematics.

You claimed around 1.4 trillion was paid in Subsidies in 2011 and according to the SURE document N1.134 trillion is re-investible from PMS subsidy removal. Simple mathematics shows that since 75 naira is the amount paid on PMS subsidy, that means Nigerians consumed N1.134 trillion / N75 = 15,120 million litres in the year. More mathematics says daily consumption averages 41.42 million litres i.e. by dividing the annual consumption by 365.

Now, you and Mrs. DAM have not been able to explain to us how Nigerians started consuming 41.42 million litres by day, when a cursory look at the past NNPC records for the past 13 years (1997 – 2010) shows that the highest we have ever gone is 27 million litres? Did Nigerians suddenly start buying Cars and Generators? Another quick look at the statements by Senator Bukola Saraki that roused the whole subsidy brouhaha showed that probably Nigerians started drinking fuel around June, meaning that consumption was stable at around 27 million litres for the first 6 months, then in the last 6 months, consumption became around 55.8 million liters per day. It is still a mystery unsolved what Nigerians started doing starting from June, after the Inauguration of the present Government that would gulp 55.8 million litres. Mummy, you are in power to be our voice in Government, but you turned your back on us when we needed you the most.

In 2010, 2.8 million litres of PMS were refined averagely per day in NNPC (Local Refining). Are we paying subsidies on that also? Yes, it must be because if not, then Mrs DAM still has more explanations to make on how 1.134 trillion was spent on subsidy when 2.8 million litres per day is domestic refining. Doing a quick calculation reveals that 76 billion naira is the amount of subsidy paid on UNSUBSIDIZED domestically refined fuel.

Again, we don’t understand the distraction methods created by the Senate Probe committee and Mrs. DAM by criminalizing the Petroleum Marketers in Nigeria by calling them the Cabal that have been eating the N1.134 trillion meant for the Subsidy. A quick look again at the PPPRA pricing template clearly states that the N122.51 is the cost of a litre of Fuel i.e. the cost of a litre of Fuel coming from the foreign refinery and shipping costs for it to land at our own Ports. The Logic is N122.51 – N65 = N57.51 on every litre paid as SUBSIDY to the Refining and Shipping companies. It means N861 billion out of the so-called SUBSIDY money is the cost of us having to refine outside the country and then ship it back to our own country and it is paid to foreign refining firms and shipping firms not to the Marketers. Is it the fault of the Marketers that Nigeria can’t refine? At least according to the PPPRA template, the real money entering the hands of the Marketers is N6.5 which is essentially the dealers and retailers margin. The annual sum then gets to N98.28 billion. The cost of transportation and bridging is N8.85 naira per Litre, and that is just because the pipelines are either bad or vandalized. Then we ask again, is it the Marketer’s fault. NNPC doesn’t have adequate or has unutilized storage depots and the private hands store Fuel at N3 per Litre and then you ask again? Is it the Marketer’s fault? Who is in business that doesn’t want to make Profit? Instead of looking at the real problems, they told us it was a Cabal that was stealing all of our money, are they dipping hands into the Federation account? Are they not being paid by PPMC?

Mummy, you sold Nigerians the story that you are trying to take Money from a powerful few and redistribute it to the Poor. How much are you taking from these “Cabal”? N98.2 billion of legitimately earned money. Nigerians believed you because they thought they were fighting the Cabal. We are not deceived, they are not the real Cabal. Identify them in NNPC. Identify them in our Past and Present Leaders and Politicians.

Mummy, we are really tired of explaining mathematics because we know you know better than us at these things, at least that is why you were the Vice-President at the World Bank. My only question is why did you sell us out?

There is still one more thing that confuses us, and this we are not sure anybody has asked you before. We will paint a scenario.

If Nigeria were to refine all the Crude Oil necessary to meet Local Demand, we might have to refine like 400,000 barrels more than we currently do per day. So, since, we don’t refine that Crude which is meant for Nigerians internal consumption, the Nigerian Government sells that Crude on the International market as part of its export. For example, if Nigeria exports approximately 2 million barrels per day. If the refineries were working, Nigeria will only be able to sell 1.6million barrels per day. So, we can safely assume that extra 400,000 barrels of Crude Oil is being sold on behalf of the Nigerian people daily. Bringing out our Calculator again: 400,000 * $106 * 365days = $15.48 billion, but as Mrs DAM has successfully hidden from us what percentage exactly the Nigerian Government profits from Crude Sales, let us assume only half (50%) of it is remitted back to the Nigerian government. That gives us $7.73billion which is approximately N1.2 trillion. This amount alone covers for the subsidy of PMS. Where does that Money go to?



Ma, We really want to stop disturbing you right now but We also remembered you told us you were still consulting widely with stakeholders and that a probable date is fixed for April 1st, All of a sudden, you gamed Nigerians on the First day of the new year. This is not how you raised us up in truthfulness and integrity.

Presently, the Nigerian Youth has the feeling of being raped, that eerie and awful feeling of being raped by a close Friend and Confidant. We discussed and discussed and had Press releases but the Government would not listen and then @renoomokri was “sent” to come insult our intelligence and teach us how to read the constitution.



Muyideen



You said, when all else fails, we should employ peaceful protests to advance our position which we obediently hearkened to. Now Mustafa Muyideen Mofoluwasho Opobiyi is dead. A 23 year old young man is dead. He had completed his studies in computer training at Da’arul Salam Computer Training Institute of Information and Technology. He arrived in Abuja post-graduation for a short vacation but was shot down in cold blood by Nigerian police at the pro-subsidy protest in Ilorin, Kwara state by the Nigerian police. Ma, you are now in Government, who authorized the Police to shoot him down?

Another of us was brutalized ( ) by Policemen at Maryland today, who authorized them? Ma, we just wish to remind you that you are in Government today and you are also to be held accountable. Section 40 of the Nigerian constitution protects the Nigerian Citizens right to Assemble. “Every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interests:” Why Ma, have you gamed us?



Ma, we’d like you to know that there is no going back moreso since some of us have been gunned down. We continue our Protests tomorrow. Are we still going to be gunned down tomorrow? You are in Government, you sponsored this Policy, and being a truthful person that we “hope” you are, please tell us the truth.

The Sub-Saharan Spring has started. Ma, would you want your name to go down in History as the same person who encouraged Youths to engage their Government and Protest when need be, and also be the same Person that will be noted as the Flagbearer of the Policy which caused the Protests?



There is something Nigerian Youths will want you to do for us.

You must rescind on this subsidy-removal policy which you heralded.
You must apologize to all Nigerian Youths, your Children, 70% of the Nigerian Population.
You must publicly tell Nigerians that you are not being used by IMF or the World Bank.
You must tell the Labour Minister that apart from NLC and so-called Hoodlums who were protesting, there is also a class of Nigerians called the Enlightened Nigerian Youth.
You should tell Mrs Diezani Allison Maduekwe that her antics has not deceived any of us.
You should tell Mr. Labaran Maku that Nigerian youth are now more informed and we just don’t swallow everything hook, line, and sinker. Also, that it was an insult on us for him to tell us that we should be thankful that President Jonathan is a Patient and Calm man.
Finally, Ma, if you cannot rescind on this Policy at this moment, we’ll appreciate if you will honourably resign. This will help send a message to the Jonathan led government that his policies and methods are unpopular.



I will leave you with the words of your Friend and Colleague @obyezeks (Madam OBY), She said:

“Today, we have no choice but to go back to basics and try to regain the people's trust. In 1946, philanthropist Joseph N. Pew Jr. said, "Tell the truth and trust the people”. Analytical evidence shows that economies that respect citizens' SPACE and VOICE to contest Policy grow better and faster. History shows that it becomes a slippery slope when nations try to shrink the Public Space for Citizens' Voice. Avoid it!

Social Accountability is now the core of Good Governance which means that engaging with CITIZENS as EQUAL PARTNERS is their RIGHT and not a PRIVILEGE”



The Nigerian youth have spoken! We don’t want a removal of Fuel Subsidy; we demand a stoppage of it. Subsidy wasn’t there originally, and we know what brought it in, eliminate what brought subsidy in, and subsidy itself will be eliminated. Treat the Disease, not the Symptoms!

I hope you Listen. We still trust you. We believe you will do what is right.



Signed

Typical Nigerian
PoliticsRe: South-east PDP Endorses Fuel Subsidy Removal by sheriffman(f): 10:39am On Nov 28, 2011
@ Gbawe Let me say here that I always enjoy reading ur posts However could u enlighten me to d stance of d ACN guvnors on d subsidy removal?cos it seems that they may ve tactically endorsed it while the party says no.pls enlighten me. tx
FamilyRe: Man Raises Family Under Lagos Bridge by sheriffman(f): 5:31pm On Nov 24, 2011
MAY GOD BLESS AND REPLENISH ALL THOSE DAT VE CONTRIBUTED TO MAKING THIS HAPPEN ALSO TO THE VERY PERSON DAT BROUGHT THIS TOPIC UP AND D 1ST PERSON DAT SUGGESTED WE DON SOMETHING 4 THEM.MAY BABA GOD ANSWER ALL UR PRAYERS BEYOND UR EXPECTATIONS.MORE DONATIONS NEEDED PLS
FamilyRe: Man Raises Family Under Lagos Bridge by sheriffman(f): 9:28am On Nov 23, 2011
Just sent in my widows might to JARUS now pls confirm receipt
FamilyRe: Man Raises Family Under Lagos Bridge by sheriffman(f): 7:57pm On Nov 21, 2011
I NEED THE ACCOUNT DETAILS PLS
BusinessRe: Sanusi Halts Naira Devaluation Claims Naira Is At Desired Stability by sheriffman(f): 3:26pm On Nov 21, 2011
If SLS can go this far truly he has tried then let him comtinue now and bring down d dollar value to 100 Naira.This is just a rant I am not into economics pls advise.
FamilyRe: Man Raises Family Under Lagos Bridge by sheriffman(f): 10:15pm On Nov 17, 2011
We reported the condition of Monday Obu, his 2 year child and pregnant wife, Dupe, who have been living dangerously in poverty under Cele Bridge. They've rejected several help including accommodation and only demand cash offers.

A UK based Nigerian offered Obuh and his family a room at 13, Church Street, Off Gbajobi Bus Stop, Itele Road, Ota, Ogun State and he rejected it. The helper said that “I arranged to pay for a room to settle his family because of the child and the pregnant wife. I had wanted to buy a mattress, stove and other materials to ensure that the family can live a normal life again. He said that he wants to start a building material business, I intend to empower him by giving him money to start the business". - (Pm News)

A Lady banker yielding to Mr Obu's request for money to start business, she bought buckets, stove and related house fittings. “Yesterday, I used my ATM to withdraw money. I gave him N9,000 for mattress and another N4,000 for out of pocket expenses and he is insisting of been given N100,000 before leaving the under bridge home.

The pain from this disappointment from Mr Obu was why we were unable to send out any update today. Who is sure these efforts to give Hope back to Nigerian is worth continuing.

http://lindaikeji..com/2011/11/lagos-under-bridge-family-reject-house.html?utm_source=twitterfeed&utm_medium=facebook
Nairaland GeneralRe: Nairaland Charity Organisation- E-Helpers Network by sheriffman(f): 10:07am On Nov 16, 2011
i am in
FamilyRe: Man Raises Family Under Lagos Bridge by sheriffman(f): 10:04am On Nov 16, 2011
i just got to know bout this thread through a PM from R231 and I must commend him for a smart move on this,and I only started 4llowing frm page 7,however I feel that after about 9 pages of discussion we should by now have an account nos 4 them either permanent or temporary.I am definitely in on this and willing to contribute whatever I can to help this couple.If our plans here are achieved b4 31st December and I am part of it I will be d happiest guy ending 2011.Pls R231 do add my name to d volunteers list.i am not resident in Lag and culd ve volunteered my account nos,but if there's more i can do let me know.Thanks r231 4 bringing me into this. 
Nairaland GeneralRe: Nairaland Charity Organisation- E-Helpers Network by sheriffman(f): 1:46pm On Nov 14, 2011
I AM DEFINTELY PART OF THIS, I AM IN FROM NOW TILL INFINITY
WebmastersRe: Webmasters In The House, Post Your Twitter Handles! by sheriffman(f): 8:43am On Nov 14, 2011
Hello guys thanks for following me for those that ve done so,however its now that I am just reading it all over again that the topic was for webmasters which I am not pls am sorry again for misunderstanding.
WebmastersRe: Webmasters In The House, Post Your Twitter Handles! by sheriffman(f): 9:35pm On Nov 13, 2011
following all so far except 2 twitter.com/qtguru and @ cos I cant find them.Tx
WebmastersRe: Webmasters In The House, Post Your Twitter Handles! by sheriffman(f): 9:28pm On Nov 13, 2011
@roddy5000
PoliticsRe: Olusegun Obasanjo. Like Or Loathe Him, Is The Greatest Living Nigerian. by sheriffman(f): 10:45am On Nov 05, 2011
I AM NOT SURPRISED THAT THE OP HAS NAMED OBJ AS HIS GREATEST HIS NAME (IRUNMOLE)SPEAKS VOLUME ABOUT HIS LOVE 4 OBJ SO 4K HIM.AS 4 ME OBJ IS ONE OF THE WORST LEADERS A COUNTRY CAN HAVE.
PoliticsRe: Riot Breaks Out In Kaduna by sheriffman(f): 10:30am On Nov 05, 2011
ITS NO RIOT ITS ONLY A PROTEST AGAINST THE KILLING BY UNKNOWN GUNMEN AND ITS NOT EVEN IN KADUNA TOWN ITS IN ZONKWA,THATS SOMEWHERE IN SOUTHERN KADUNA.THE STORY HAS BEEN CIRCULATING THAT ITS IN KADUNA BUT ITS LIKE THAT.IF OUR OWN LOCAL MEDIA CANNOT REPORT STORIES CORECTLY HOW THEN CAN THEY EXPECT THE FOREIGN MEDIA TO REPORT FAVOURABLY?
ComputersRe: Fiber Optics or VSAT, which way to go? by sheriffman(f): 6:24pm On Nov 04, 2011
FIBRE is the future its becoming cheaper and faster.

fawwad:
who is providing corportate solution for internet on fiber optics !!! few good names please

we have to reconsider our service provider and i am looking for some one, who has fiber optics connectivity,
please share some good and repured names other than MTN smiley
I know Suburban has fibre connectivity.
By the way I jst got Certified today by the FOA (Fibre Optics Association).I am so so over the moon.
PoliticsRe: The Most Backward State In Nigeria? by sheriffman(f): 4:35pm On Oct 30, 2011
I DO NOT THINK ANYONE OF US HERE IS QUALIFIED TO MAKE A DEFINITE JUDGEMENT ON THIS QUESTION BASED ON WHATEVER CRITERIA MAY BE USED.cOS TO GET A TRUE PICTURE SUCH A PERSON MUST HAVE GONE ROUND TO ALL THE STATES AND EVEN 3/4 OF THE LGA'S TO COME OUT WITH A STATEMENT WHICH I BELIEVE NONE OF US HERE HAS.I THINK MOST ANSWERS HERE ARE BASED ON THE STATES THAT THEY HAVE HEARD LESS NEWS ABOUT I.E THOSE STATES THAT ARE NOT TO POPULAR HENCE THY ASSUME IT IS BACKWARD.
BusinessRe: Discussing Fuel Subsidy Removal (please Let's Keep The Discussion Civil) by sheriffman(f): 3:07pm On Oct 27, 2011
Here is a graphic understanding of what subsidy means to a common man:

http://234next.com/csp/cms/sites/Next/Home/5746467-182/fuel_subsidy_the_true_story.csp

Chioma earns N18, 000:00k in a month at the factory where she works.

They pay only N17,100:00k into her account after tax.

She spends N11, 000:00k every month buying Gari, Rice, Beans and other food stuff.

She buys a lot of Gari because she takes some to work to soak in the afternoons.

Getting to work and coming back home every day, in addition to going to church on Sunday (N1,800:00k tithe) costs her about N1, 440:00k i.e. N60:00k to and fro.

This leaves her N 2,860:00k which she uses to pay back some of the money she borrowed from her sister to make the down payment of her 2-year rent. She also contributes N1000:00k to the staff cooperative.

On the last Saturday in January 2012 she spends N12, 600:00k on food and by the end of February she has had to spend N2,880:00k on transport. She is left with N1, 620:00k.

She opts out of the cooperative. She does not pay her tithe. She does not pick her sister's phone calls,

Crude Oil and Petrol are two different products. Prof. Aluko seems to conveniently overlook this fact.

Nigeria exports Crude Oil and imports Petrol.

Of course, some Crude Oil is refined in Nigeria to produce Petrol.

Therefore, we can say that the Petrol used by Nigerians comes from two sources:

Locally refined
Imports

An important question to ask is how much Petrol do Nigerians consume daily?

On the average 294,000 barrels.

The four local refineries are operating at, again on the average, 21% of their capacities.

This means they provide, at most, only 93,450 barrels every day.

If they run at only 66% of full capacity, they would meet the need of all Nigerians and the pump price of fuel would be about N30:00 only.

What has the Government done to ensure that the four refineries run at full capacity?

What about the private operators who were given licenses to run refineries?

Anyway, since the locally refined Petrol does not meet the need of Nigerians, at least 200,550 barrels need to be imported.

What then is the cost of imported Petrol per litre?

It costs N115:74k to get to the Nigerian ports.

Because the Nigerian ports are not as efficient as the ports of, say, Ghana or even Togo an additional cost of N6:25k per litre is incurred at the Nigerian ports.

What has the Government done to increase the capacity of our ports and improve their efficiencies?

So, the cost of Petrol per litre increases to N121:99k

The Petrol is not transferred directly from the ships to trucks.

The Petrol is usually first stored in depots, which charge N3:00k

Then there is an Administrative cost of 15kobo

There is a Bridging Fund of N3.95k

Then the dealers add their margin of N1.75k

The transporters add their own margin of N2.75k

Finally, the Petrol stations generally add their margin of N4.60k

So, the cost of Petrol at the station ought to be N138:19k per litre, approximately N140:00k.

Why then is Petrol sold for N65:00k (when there's no Fuel Scarcity, Black market)?

Because the Government pays the remaining N75:00k, more or less, on every litre that is bought.

This N75:00k is the subsidy which the government wishes to stop paying because:

They say they cannot continue to give Nigerians money forever; Government says it would become broke.
They say they need the money to build roads, fund health services and education etc.

Therefore, as from next year Nigerians would have to start paying about N140:00k per litre of Petrol.

What would be the effects of this?

N140:00k is about 215% of N65:00k therefore the cost of Petrol will more than double.

What does this mean?

Generally, Nigerians spend about 63.8% of their monthly income on food and about 4.2% of that income on transportation.

Therefore when all transport fares double, at the very least, and assuming a 10% increase in percentage of income spent on food due to increasing food prices, Nigerians would then spend 73.8% on food and about 8.4% of their incomes on transport.

This leaves only 17.8% of incomes to spend on Housing, Water, Electricity, School fees, and Hospital Bills.

But because the Landlords have to increase rents in order to be able to feed their families, and PHCN, Schools and Hospitals are going to have to increase their bills in order to be able to pay their staffs that also have families to feed, 17.8% won't only be too small, it would be grossly inadequate:

more families will receive quit notices by the end of 2012

more people will die in the hospitals for lack of treatment in 2012

more children will have to stop going to school, 2012

People have to eat first and that would leave almost nothing left over.

The Government says it would offset some of this burden by increasing the minimum wage.

An increase in minimum wage is also an increase in the salaries of Senators, Special Advisers, Political Aides and so on.

The rise in prices is also called Inflation.

One of the major aims of the Central Bank is to combat inflation, but all efforts to achieve that end would be undermined by the subsidy removal. The Central Bank is going to fail in one of its major functions.

Usually, a reduction in Inflation is opposed by an increase in Unemployment: if Inflation goes down Unemployment increases and if Inflation goes up Unemployment reduces. In many situations and in advanced economies, the people usually get compensated with the creation of new jobs for more people as a direct consequence of inflationary policies, but this does not apply to all inflationary policies.

The removal of the fuel subsidy in and of itself is not tied to job creation in any way therefore there would be no compensation for Nigerians in terms of Unemployment reduction.

Calculations based on numbers sourced from:

BudgIT; http://www.flickr.com/photos/68891946@N06/6263971530/sizes/l/in/photostream/

Petroleum Products Pricing Regulatory Agency (PPPRA); http://pppra-nigeria.org/pricingtemplate.asp

National Bureau of Statistics; http://www.nigerianstat.gov.ng</
BusinessRe: Discussing Fuel Subsidy Removal (please Let's Keep The Discussion Civil) by sheriffman(f): 2:56pm On Oct 27, 2011
Very interesting thread,Pls I want to solicit for the support of the Moderator here that this topic should not only remain on the front page but it should be at the top of the list on the front page as it is very very educative and it's a hot one that could define us in yrs to come.besides I dont see this degenerating into a bashing thread except?
PoliticsRe: Nigerian Spring - Can It Happen? - A SWOT Analysis by sheriffman(f): 8:04pm On Oct 25, 2011
BetaThings:
Beaf has a point
Although the suffering in Nigeria exceeds that of Libya and those "sprung" countries,
It should not be GenBuhari that should be opening this thread

However
Suffering in Nigeria = past 12 years witnessed the largest oil revenue in Nigerian history
But PDP = deepening and entrenching poverty
I dont agree with ur view bout who opens up a thread 4 such discussion.Do u ve a preference for those that should air the truth and the obvious?It can cum frm even ur enemies and u should be prepared to examine the facts contained therein.GenBuari has a point here can we really occupy?
PoliticsRe: Ben Bruce To Run For Governor In Bayelsa State by sheriffman(f): 7:50pm On Oct 25, 2011
This guy may be a gud soul but surely nt cut out 4 nigerian politics and again he has chosen d wrong party,though its PDP dat must win dat elections cos of GEJ but I tell u he will lose d primaries.dont Write out sylva.alaibe will be given d Atiku treatment collect his money and dump him.I still see Sylva picking d PDP ticket.Guys dis is 9JA.We ve been deceived 4 so long and I tink I now know hw dis guys think.Its all politics Sylva will win.
PoliticsRe: Plans Revealed On How North And South Plan To Punish South Western Rascals. by sheriffman(f): 8:09pm On Oct 24, 2011
This is what the Yorubas call Ase (Nonsense)
BusinessRe: What Is The Maximum Daily Deposit In Nigerian Banks? by sheriffman(f): 12:55pm On Oct 22, 2011
If deposits truly ve a limit THEN WHAT HAPPENS TO SAVINGS ACCOUNT HOLDERS WHO DO NOT HAVE ACCESS TO DEPOSIT VIA CHEQUES?
PhonesRe: Glo Data Bonus Offer by sheriffman(f): 9:31pm On Oct 21, 2011
THIS IS THE SETTIN ON UR MODEM,U DONT VE TO DELETE D OLD ONE JUST CREATE A NEW PROFILE WITH DIS AND MAKE IT AS UR DEFAULT THEN OFF U GO

glodirect-AS UR PROFILE NAME
Apn, glosecure
Username, web
Password, web
PhonesRe: Glo Data Bonus Offer by sheriffman(f): 9:28pm On Oct 21, 2011
NAIRALAND IS TRULY1DERFUL I CHECKED MY DATA AND I VE 10.1GB,I CHANGED MY SIM TO MY FONE USING D GLOSECURE SETTINGS AND VOILA I CAN POST AND BROWSE USING IT ON MY MODEM GOD BLESS U ALL
WebmastersRe: ..... by sheriffman(f): 6:06pm On Oct 21, 2011
not dual core but i do VSAT
Foreign AffairsRe: If Ghadaffi Had Been A Nigerian by sheriffman(f): 1:05pm On Oct 21, 2011
HE WOULDNT VE LASTED MORE THAN HIS TWO TERMS,OR AS A MILITARY MAN HE WOULD VE BEEN OVERTHROWN,HENCE THERE WOULDNT VE BEEN ANY SENSELESS KILLINGS.AS CRAZY AS (JA CAN BE SUM THINGS CANT JUST HAPPEN HERE
WebmastersRe: ..... by sheriffman(f): 12:26pm On Oct 21, 2011
I am interested in d bandwidth from a service provider after activation of a vsat link
WebmastersRe: ..... by sheriffman(f): 12:12pm On Oct 21, 2011
unite4real:
you can visit the site www.bandwidthplace.com and do a speed test. you have to make sure no other computer or system is sharing bandwidth at that time. we call that back-to-back test. better still, you can unplug you internet cable from the network. set it up on only one computer to do this test.
Is this not for a speed test?someone pls help

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