wirinet:


Thank you. This is the message i am trying to pass through. We cannot depend on imported energy to run Nigeria. That cost would reflect in everything manufactured in Nigeria and you will lose jobs to other countries. Our industries are running on foreign raw materials, foreign equipments and foreign technical manpower, we cannot afford to run on imported energy.

gohome:


How do kids in Togo sleep?

atlwireles:



Please explain this statement?

gohome:


Raw materials have to be translated to money before it makes sense. 170 million people with 2 million bbls per day? Take a moment and soak that figure then You can not compare your selves with Oil producing nations doing well. 1 UAE 2. Kuwait 3. Saudi. If you still do not get it let me know, i will expantiate.

frehage:


Benue State churns out hundreds of thousands of tons agricultural produce annually. As a result, the state's residents could practically get some products next to nothing. This is not the case with Lagos and some other states. We are an oil producing country. We shouldn't buy petrol at the same price that non oil producing countries like South Africa do.

Sweetguy25:
The problem with subsidy is the exchange rate. If naira exchanged for 90 naira per dollar, we won't have a problem with subsidy removal

atlwireles:


Please name one globally traded commodity produced in Benue, that is cheaper in Benue than Lagos.

gohome:


It wont. Everything manufactured in Nigeria run on Diesel not PMS. Event services (Bank, entertainment, Hotels) run on Diesel.

TheGoodJoe:


I do not understand your answer. Do not use Japan and Hungary for your debate. If these were Crude Exporting Countries, their Government will Subsidize their Petrol prices.

Their prices are not subsidized because they are not Crude Exporting countries.

If you want to tow that line, use Crude Exporting countries.

atlwireles:


Please name one globally traded commodity produced in Benue, that is cheaper in Benue than Lagos.

wirinet:

Cashewnuts, seseme seeds and soya beans.

wirinet:


And the Diesel is not imported energy? Petrol, Diesel, Aviation fuel and Kerosine are all imported energy. Manufacturing companies should not run on diesel, if you do you will not be able to compete in the international market. Diesel is a very expensive form of energy. Industries in industrialized nations run on electricity or in the alternative gas. Even homes in Europe run on gas for hot water and heat during winter, it would be too expensive to run on diesel.

gohome:


So in other words, Apart from rashes for your kids removal of subsidy on PMS as no major economic impact right?

frehage:


Well, petrol is three times cheaper in Venezuela, the gulf states, etc, than Nigeria and more than five times cheaper than is obtained in South Africa and other non oil producing countries. How about that?

gohome:


Most crude exporting countries are poor. I wont use all of them. I will only use the rich once.

1. UAE: The UAE is 8 million migrant and 1.4 millions citizens. Budget is in excess of 4 trillion Naira. Economy is so diversed that only 4% of oil revenue go to Dubai city budget. They produce 3.2 million bbl per day. Again, a population of 1.4 million people produces 3.2 million bbl/day

2. Saudi: Population 27 million people with a whooping 11 million bbls/day. Saudi also has a gold mining sector and other mineral industries, an agricultural sector that can feed the whole middle east and large number of temporary jobs created by the roughly two million annual hajj pilgrims. They have about 1 Trillion dollars saving, super infrastructure in place and is looking to emulate dubai and build 4 cities (1 Trillion dollars can do that). The cities will be spread around Saudi Arabia to promote diversification for each region and their economy, and the cities are projected to contribute $150 billion to the GDP.

3. Kuwait: 1.2 Million people (voting population of Alimosho LGA) and produces 2.8 million bbls per/day. They have about 1 Trillion dollars saving.

4. Qatar: 270,000 Qataris (1/10th the size of lekki). 1.5 million bbls/day of crude oil produced. 120 billions saving. Great infrastructure in place.

wirinet:


Why are you now being sacarstic? I said petrol affects every facet of our lives and its cost places a great strain on the masses. You mischievoulsy ignored where i wrote that power is essential for their homeworks.

I was responding to your analogy where you implied that fuel for the home is a luxury that can be dispensed with, i was telling you it is a neccessity.

I have not even gone into how much i spend in my office daily.

TheGoodJoe:
[color=#000099]
If our country was run well, this debate should not be an issue. In the past, subsidy was run without it having an effect on infrastructural development.

TheGoodJoe:
[b][color=#000099]

Look at the amount of loans GEJ took with nothing g to show. Without the Subsidy, the money gotten from it will go down that drain. If our country was run like the other Crude producing nations, we will not talk of subsidizing petrol prices.

So, we should not use infrastructure as an argument for removing Subsidy. It was the same argument NOI used to take loans and increased our foreign debt. Nothing to show for it.

With total Subsidy removal, infrastructural decay will continue especially, if GEJ continued to rule. to

Put a system in place, curb out corruption in the system. We will see we do not even need this Subsidy removal of our refineries are working in full capacity.

gohome:


This is a joke right?



The call for removal has nothing to do with GEJ. It has everything to do with whoever will write the next budget

gohome:
Question



Answer

[b]Nigeria can no longer afford to pay subsidy on petroleum products full stop. Corruption or no corruption we do not have the money to pay. You have to let it sink in your head. We have an infrastructural decay that will take 200 billion dollars to fix, you have annual 'deficit' budget of less than 20 billion dollars of which 40 percent is used to fund lazy states and you want to continue to spend 25% of your the remaining budget to subsidize PMS?

Hope the anology below helps

You are the head of your house, and you have an annual budget of 100 naira. Rent in a dilapidated house is 20 Naira. School fees is 20 Naira. Transportation to work and school is 30 Naira. Fueling your generator is 30 Naira. Let say you want to start up a new business to increase your income and as such you need to save 20 Naira. You also need to move from your present apartment because the ceiling leaks water any time it rains, which will require you save an extra 10 Naira. You took a loan from the bank, and the monthly deduction is 10 Naira. You have relations that cannot run their family and they have come asking for money because the landlord is about to evict them from the house. In the middle of all these, Something happened and your annual budget is reduced to 50 Naira. Will you keep paying for fuel to light up your house while you cannot pay rent and your kids can not go to school?

Before you critic always put yourself in a leadership position and provide practical solution
[/b]

gohome:


Answer

[b]The subsidy issue is not shrouded in mystery. You have chosen to be ignorant. The average price of PMS around the world is about 1.1 dollars per liter. That's 220 Naira per liter. Poorer countries pay this. We produce 2.2 million barrels per day, rich countries like Russia US, China, India UK Brazil that produces up to 5 times more oil than we do pay this. Poorer countries like Haiti Angola Gabon also pay this. Even poorer and remote villages in Nigeria, burutu Nembe, mambila pay 200 plus for a liter. So what is the problem with it all gone? I'm 2012, sanusi and Iwealla with Allison went round TV stations explaining the steps to fully deregulate the downstream sector, no one listened. 65 Naira or nothing was the chant. I remember when Sanusi said the best way to put a fire out is to eliminate the source of the fire.

It was shame that GEJ and his ministers did not have the political tenacity to completely do way with this fire. Buhari seems to have it. He will remove it, fuel will sell at 180-220 per liter[/b]

gohome:


I used candles to read in my secondary and univeristy school days. 30 million of the kids in this country use candles to read. At least you can guy a Gen, maintain it and can also afford it at 87 Naira Protest for infrastructure not subsidy. Protest so these kids will have light to read their books not subsidy.

I have just a few questions.


1). How much were previous administrations paying for subsidy??

2). How much did Jonathan pay on assumption of duty as the president and in subsequent years as president??

3). What necessitated the geometric increase in the expenditure on subsidy soon after Jonathan took over?? It was about 300billion on the budget but burgeoned to nearly 2trillion at the end of the fiscal year. Was there a corresponding increase in the demand of products to have warranted such increase in "supply"?? Did Nigeria get thirstier for petroleum products??

4). Was there any supplementary budget passed by the NASS to accommodate the increase as stated in #3??

5). There were about 40 importers of products prior to Jonathan's regime. After he took over, the list went over the roof to about 150!! What was the reason behind this??

sparkleboy:
Booked


GEJ should have removed this subsidy on Pms completely then and spent the SURE-p fund on building or repairing new refineries that should have been handed over to private companies to handle and manage.
We wouldn't have been in this mess if such had been done but the wicked cabals that are enjoying the deep corruption in that sector would not allow such.
People like Wale Tinubu, ifeanyi uba, pres obasanjo, otedola, rahamaniyya oil,
These people enjoy the loot from under supplying and been overpaid. If you see the deep corruption that goes on in the Pms supply chain You'll be scared for Nigeria.

Most of them import the cheapest fuel, and over value their oil,
A lot of the so called subsidised oils are refined in the refineries owned by our former leaders and business moguls in Trinidad and tobago, guinea, etc.
a lot of the subsidised fuel ends up in neighbouring African countries such as TOGO, BENIN, GHANA ETC,

SOLUTION
BUHARI SHOULD CANCEL PAYMENT OF SUBSIDY AND REVAMP OUR REFINERIES AND GIVE IT TO A PRIVATE COMPANY TO MANAGE.

Pavore9:
The subsidy is a fraud! A litre of Petrol is N181.07 here in Nairobi though it was about N224 per litre before the recent oil crash but even at the N181.07 per litre transport fare is still cheaper here than in Nigeria. Subsidy should go as Nigerians are not even benefiting from it.

jpphilips:


Stick your mouth in Nairobi affairs that is where you pay your taxes, Nigerians should decide whether or not they want subsidy

TheGoodJoe:


You just said, this is not about GEJ but you went back to the proteast. The issue of the protest is simple. It is better we lose billions to marketers and buy petrol cheap. You read with Candle but you entered Public transport, your parents had cars, stores you bought things used gen sets to cool drinks and water. You cut your hair with barbers that used gen sets.

A hike in petrol price is a hike in everything. Including candles.

As long as the petrol is cheap, some way, some how, the government worked for us. Take Subsidy, you take government responsibility. They have sold the whole country in the name of privatization. Yet Subsidy is their problem.

TheGoodJoe:


You just said, this is not about GEJ but you went back to the proteast. The issue of the protest is simple. It is better we lose billions to marketers and buy petrol cheap. You read with Candle but you entered Public transport, your parents had cars, stores you bought things used gen sets to cool drinks and water. You cut your hair with barbers that used gen sets.

A hike in petrol price is a hike in everything. Including candles.

As long as the petrol is cheap, some way, some how, the government worked for us. Take Subsidy, you take government responsibility. They have sold the whole country in the name of privatization. Yet Subsidy is their problem.

jpphilips:



You did not answer the question, you are just making ignorant blank statements, how did a regulated PMS affect a deregulated AGO, if you dont know the answer, keep quiet.

jpphilips:
Corruption, financial muscle, Audit assessment, integrity assessment of facilities, political patronage etc

989900:


If you said the above in 1999 up till 2008 thereabout, you will be correct.

As we stand now, the present subsidy scheme would only destroy Nigeria.

Imported fuel accounts largely for why the Naira is so weak, that hurts your purse 10 times more than removing the present subsidy will.

As it is, only those involved in the scheme/scam wins!

Next time Nigerians take to the streets, I want us to do it for the refineries, do it for stable electricity supply -- that's when we win!

gohome:


I mean protest (by voting or strike) that your kids have this in future. Stop living in the past. Because a protest was done in 2012, i should not use the word protest in any context?

There are no reasons while the hike in PMS would mean hike in anything. What was the hike in prices when we paid 97 Naira? Even if everything hikes, we would not die. Again do you want your kids to be out of school, you want your wife to die in the hospital because you do not have good medicare, but you want to fuel your Gen in a leaking house?

PMS being cheap is like your government giving you 20 Naira and collecting 200 Naira. from your reasons, If you do not allow them take subsidy the same government has the license to take loan on your head will go and take loan, pay the subsidy (their cronies) and chop the balance. So why dont you trust your government? The same government will devalue your Naira and the 20 Naira, 80 Naira or even 200 Naira you want your govenment to give you is erased. Think.

you have put so much pressure on your Naira

989900:


If you said the above in 1999 up till 2008 thereabout, you will be correct.

As we stand now, the present subsidy scheme would only destroy Nigeria.

Imported fuel accounts largely for why the Naira is so weak, that hurts your purse 10 times more than removing the present subsidy will.

As it is, only those involved in the scheme/scam wins!

Next time Nigerians take to the streets, I want us to do it for the refineries, do it for stable electricity supply -- that's when we win!