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Nairaland Forum / Nairaland / General / Politics / Subsidy Removal: FG Saves N18.3bn In Six Weeks (14878 Views)
Mohammed Abacha Fights To Reclaim $1.3bn Oil Bloc, Sues FG, Shell, Agip / Ex-air Force Chief, Umar, Diverted N13.3bn In 2 Yrs / No Going Back On Subsidy Removal - FG (2) (3) (4)
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Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by spaggy01(m): 12:29pm On Feb 15, 2016 |
wow |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by AZeD1(m): 12:31pm On Feb 15, 2016 |
OZAOEKPE:Electricity is now private business What have they done with the savings or what do they plan to do with it? That's the most important question. 3 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by anonimi: 12:32pm On Feb 15, 2016 |
Wrong topic. We, the 200 million mumu citizens of the geographical space called Nigeria, are now PAYING our government subsidy. Yes, negative subsidy. In doubt? Ask Alhaji Babatunde Raji Fashola and Prof. Tam David-West. QED!!! www.nairaland.com/attachments/3317460_3095323fbimg1447784631943jpeg0d6fe0821b4b9d3c854613847a8ddc94_jpeg2c09f55ae35047b47c6d2e4c9b2e6495 www.nairaland.com/attachments/3115090_seunoloketuyi1223747310596353674000681876567738n_jpegf23910bd963a3dbb9d74ad4621bdda8b www.nairaland.com/attachments/3252479_img20160103103227_jpegc267729d8628fd994230adedd6d053b8 www.nairaland.com/attachments/3117129_image_jpeg9f360c5ab7736510df54c882e9dbf188 4 Likes 2 Shares |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Pascal181: 12:34pm On Feb 15, 2016 |
Why is such money not reflecting on peoples in d country. 2 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by ahmadmuazu5(m): 12:34pm On Feb 15, 2016 |
emerged01:Yes Ambode is really trying I appreciate him 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 12:34pm On Feb 15, 2016 |
Caseless: actually the saving would still have been made even if Jonathan was still in government. Buhari did not remove subsidy, Oil prices fell to a level where we don#t have to pay subsidies. I'm very much in pro Buhari and against everything Jonathan stands for but Buhari can't claim credit for what he did not do, just as you can't blame him for the mess he inherited..but .he hasn't removed subsidies, there is just no need to subsidize at current Oil price levels. Wait till he stops importation of fuel then give him credit because the majority of our forex drain is spent on importing fuel. 3 Likes 1 Share |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by yemmight(m): 12:35pm On Feb 15, 2016 |
Subsidy is fraud. Some people were saying there will be scarcity of fuel. Since January this year, petroleum product is stable in the country. Kudos to Buhari. 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by sorom4: 12:35pm On Feb 15, 2016 |
All these savings and recovery no dey show oh. Na only on the internet/media we dey see am. Still waiting when I go see it's effect on the masses 2 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Guyman02: 12:37pm On Feb 15, 2016 |
Subsidy 'removal' when oil sells below $30 in the international market. APC manipulating the gullible with claims of savings from 'subsidy removal' when fuel should be selling at below N50 by now going by current oil price 2 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 12:38pm On Feb 15, 2016 |
klassicview: ignorance is when you don't know that subsidies have not been "removed" 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by blackpanda: 12:39pm On Feb 15, 2016 |
What I dont get is whether this is money we are actually getting or just money we didnt spend. Cos if its the latter, it doesnt necessarily mean FG is now rich 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by peacengine(m): 12:41pm On Feb 15, 2016 |
Propaganda, was subsidy in the budget? If it wasn't how are we saving the money, how much was allocated for subsidy payment in the budget? Only ignorant zombies will fall for this scam |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 12:44pm On Feb 15, 2016 |
blackpanda: it's money we don't have to spend (for now so long as Oil prices remain low) but the "gain" is offset by the fact that this same Oil is our main revenue earner so while we "gain" because we dont have to pay subsidies, we lose much more from the lower price of crude. |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Eebrahym(m): 12:45pm On Feb 15, 2016 |
Baawaa:difference bro 2 Likes 1 Share |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Caseless: 12:48pm On Feb 15, 2016 |
lookandlaff:my God! This is wrong. There was room for BUHARI to include expenses for subsidy in the MTEF he submitted , but he refused, rather, he opted to pay for the 430 billion he inherited from Jonathan and failure to pay that money on time led to the fuel scarcity late last year to early this year. In their projection for year 2016, the reduced the pump price by #0.5 but said " the price will be regulated based on the market price". What you should note is, crude sold less than #40 before Jonathan left office, did he reduce the pump price? And we were paying subsidies for a commodity that has fallen in price at the international market under Gej , no reduction in pump price and you think BUHARI does not deserve the credit? I'm disappointed. 2 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by erico2k2(m): 12:48pm On Feb 15, 2016 |
Caseless:Ahah guy you funny let me ask from what country try did they import from Kuwait has the cheapest overhead cost for getting oil off the ground so I asked is this a cheap ploy to obtain a cheap political point? ? |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by berrystunn(m): 12:50pm On Feb 15, 2016 |
[size=20pt]total lie lie lie govt[/size] |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 12:52pm On Feb 15, 2016 |
Caseless: when you go to school, call yourself educated, read an article where it expressly inferred that subsidies have not been removed but you still argue otherwise, why are we such educated illiterates? we go to school to learn facts but not to learn how to think. did you not see this part in the article? "the over recoveries from both PMS and HHK would be saved by the government and used to fund future subsidies if the need arose." 1. why would you be funding future subsidies if subsidies have been removed? 2. did you see any official announcement from the govt that they have abolished the subsidy regime? 3.) Did you read anywhere that the market has been deregulated? 4) So how can you remove subsidies when price is regulated what happens when the cost rises above the regulated price? 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by excel101(m): 12:55pm On Feb 15, 2016 |
klassicview:. Don't mind them, they should rather tell us what they used those money for rather than what they're claiming to have saved, liars |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by megaweight(m): 12:55pm On Feb 15, 2016 |
They save ooo or they pay, how does it translate to any tangible growth in our economy?? #point us to a simply economic direction and we will find our own way period. |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by just2okworld(f): 12:59pm On Feb 15, 2016 |
Hmmm |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by excel101(m): 1:00pm On Feb 15, 2016 |
Caseless:. Mumu, u thinks most monies u see on nairaland news are real, if they're like they're reporting they should rather channel them to important things we can see nd not coming on a social media to be spreading false info |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Anwonspee(m): 1:01pm On Feb 15, 2016 |
Saving while borrowing? I don't get it. How much were they spending on subsidy before the removal on weekly basis? There is God o. |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by tete7000(m): 1:03pm On Feb 15, 2016 |
The market is still being regulated but we buy above international market price, so government makes money. Subsidy is only paid when the local market price is above international oil price. As long as you have regulated market with fixed prices, subsidy cannot be said to have been removed. When we return to era of high crude oil price, government will pay subsidy again. For now let them save for the 'raining days' ahead. 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 1:05pm On Feb 15, 2016 |
tete7000: Thank God for you, so long as there are still people like you who can think and understand, hope is not lost for this country 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Manred0(m): 1:06pm On Feb 15, 2016 |
Now I know we hv a Government |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by blackpanda: 1:10pm On Feb 15, 2016 |
lookandlaff: So in other words the loss cancel the gain and we are back to square 1 Hmmm |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Caseless: 1:10pm On Feb 15, 2016 |
lookandlaff:if you are not an educated illiterate yourself, why didn't you see the "if" clause in the statement you quoted? There's a condition now; "if" the need arose . It goes to tell you what they would do with the saving , maybe fund the subsidy if or when the need arises. If the subsidy is existing now, why do we have to wait for the "future" or when the need arises to pay for it? Haba! Buhari never believed in subsidy because of the fraud associated with it, and like he always say: "who's subsidizing who?" . So don't expect him to come out and say it has been removed "officially". Please, check the budget, the fraudulent provision that is always made for subsidies is not there. isn't that enough statement to show its removal? Subsidy has been removed, and replaced with a better framework . nnpc is now involved in importation of the products; this they store in private depot or tank-farm for onward distribution to filling stations across the country. This is how they tackled the last scarcity. This has helped and also saved us from those marketers who always claim they import to Nigeria, sell it somewhere in Africa and come back to FG to collect subsidy payment. 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 1:11pm On Feb 15, 2016 |
blackpanda: Perhaps I should have said the gain is "more than offset" |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Kenobus: 1:12pm On Feb 15, 2016 |
Caseless:Nigerians are too gullible! Subsidy hasn't been removed from pms. They shd stop the lie! If subsidy is removed the price would be above N100. Think 1 Like |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Kenobus: 1:15pm On Feb 15, 2016 |
berrystunn:you are very correct. It is surcharge that is there. FG hasn't removed subsidy. The price of crude has come down, we are the one paying Fg subsidy now. If the price of crude goes up now, Nigerians would see the LIE! 2 Likes |
Re: Subsidy Removal: FG Saves N18.3bn In Six Weeks by Nobody: 1:15pm On Feb 15, 2016 |
Caseless: you clearly are not able to follow logic, the "if" exists because a subsidy regime is still in place, that you are not paying now doesn't mean it no longer exists. If you had abolished subsidies there would be no if, why are we so dull? Do you understand what a regulated market is? on your point aboout budget, the budget is based on $38 a barrel, at that level there is no need to subsidize fuel so why make provision in the budget when you don't anticipate a need for subsidies? That you don't make provision because you feel there wont be a need doesn't mean you have abolished subsidies. Put it this way, you pay your child'd school fees, government now says we education is your child's school is free. Because there are no more school fees, when you plan your expenses you dont allocate money for school fees. But all of this does not mean you have decided to stop paying for your child's school fees. The day govt starts charging for school fees again you will make provision for school fees. You saying govt has removed subsidies because it currently has no need to pay subsidies is like saying a mana has said he is no longer going to pay his child' school fees simply because for now there are no fees to pay. |
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