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Nairaland Forum / Nairaland / General / Politics / Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS (21955 Views)
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Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by OVI75(m): 8:46am On May 08, 2016 |
Time To Buy and Hoard For me Oo.Buy Like 100 litres |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by AreaFada2: 8:46am On May 08, 2016 |
lilprinze:That's why no non-Zombie takes them serious. Talking from all corners of their mouth. They wish their neighbour bad and they want success. Governance is now Rocket Science 808. Doctoral level. ![]() 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by omohayek: 8:47am On May 08, 2016 |
989900: This is nothing but wishful thinking on your part, as the causality is actually reversed. As much as you may like the idea of cheap fuel, it will never be economical to refine it domestically if the price of the product is artificially capped. It's not as if fuel has been available at the "subsidized" rate anyway, so why insist on the maintenance of a subsidy hardly any ordinary person benefits from? 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by ibetoibb: 8:47am On May 08, 2016 |
Subsidy removal is just a scam. GEJ made us to understand that d money will b channeled on developmental project , where r those projects. Refineries not working optimally. From Obj till now we still battling wt d concept of subsidy, fuel importation, the untouchable cabals. Nigeria is a derailed country. 2 Likes |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by oloriooko(m): 8:49am On May 08, 2016 |
VillageParrot: ![]() ![]() How can you remove something you said does not exist |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 8:50am On May 08, 2016 |
omohayek: Baloney! |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 8:52am On May 08, 2016 |
989900:lol, where will you get the money to fix the refineries? 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by omohayek: 8:56am On May 08, 2016 |
989900: Wow, what a deep and compelling rebuttal on your part! I'm totally convinced of the errors in my thinking now! [sarcasm] Keep on mistaking your fantasies for reality, and see how much closer that gets you to resolving never-ending fuel shortages that have don't exist even in poor neighbors like Benin, Mali and Togo. 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by BluStreak(m): 8:59am On May 08, 2016 |
thunder74: This is EPIC! Keyword #Change |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by berrystunn(m): 8:59am On May 08, 2016 |
Same people, them them APC do do don't talk |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 9:00am On May 08, 2016 |
GogobiriLalas: 1. Are the refineries working now; at what capacity if they are? 2. How much money are we talking about? If you can answer the above 2 correctly, I'll proceed with you. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by OKorowanta: 9:00am On May 08, 2016 |
newton231: Oga Jona juju catch u? Sorry o...even wen pipo in Bayelsa are saying he is d worst thing to happen to Bayelsa for not standing up for d state. I have over 8 friends from Bayelsa and they said they only supported him bicos he is their own. Wailer, E be like say u eat from dat whale wey dem butcher for Lagos dat year. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Dripy(m): 9:03am On May 08, 2016 |
During his campaign, APC and Buhari said there was no subsidy! What is he trying to remove? The government was built on lies, deceit and the immoral hankering for power at all cost now we have been stuck by the magnitude of the deceits. The dagger that did the damage still drips with blood. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 9:07am On May 08, 2016 |
989900:I'M really not trying to start an argument; it's a simple matter of placing the cart before the horse...if you want the refineries fixed, you need to get some money, if you want money, remove subsidies 2 Likes |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 9:07am On May 08, 2016 |
omohayek: I'm sorry to have to call it what it is, honestly, I wish I did that in a more polite way, but it was just some choking gallimaufry you had going there, and it is totally pointless having such convo with that amount of naivety -- which is none of your fault anyways. One point though, how do other oil producing countries whose PMS pump prices without subsidy are well below N70/litre do it? |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by eph12(m): 9:07am On May 08, 2016 |
Keneking:The rest will be just fine. NNPC alone can't serve one quarter of our population. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by grandstar(m): 9:12am On May 08, 2016 |
989900:Wrong, diesel is already deregulated and is imported 2 Likes |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Rexnegro(m): 9:13am On May 08, 2016 |
good move mr pmb, subsidy has always been fraud all along, the purpose wasn't achieved because some few (cabals) has grossly benefited from it and Not The masses...how can govt say they re subsidizing yet the price of fuel, kerosene, etc are still high, What then did they claim to subsidize? Mr President God will guide You tru, just do the best for the common Man, thanks |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 9:15am On May 08, 2016 |
GogobiriLalas: 0/2 |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by grandstar(m): 9:18am On May 08, 2016 |
The subsidy on forex needs to be removed first as there won't be enough forex to import or it will be sold at the black market exchange rate 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by eightsin(m): 9:19am On May 08, 2016 |
This country is just a mess. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by grandstar(m): 9:24am On May 08, 2016 |
989900: which countries pls? |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by banki(m): 9:25am On May 08, 2016 |
989900: So the avengers can keep blowing it |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by omohayek: 9:27am On May 08, 2016 |
989900: Care to point out what exactly was "gallimufry" in what I wrote? How do you expect refining to flourish in Nigeria when private operators aren't able to make a profit?
The answer is simple: their prices are not below N70/litre, which is why it is so lucrative for criminals to hijack refined fuel from Nigeria to sell abroad. We have to face reality: no matter what the "official" price of petrol may be, nobody is actually getting it at that price without having to do a lot of waiting in long queues in the hot sun with jerry-cans, often with nothing to show for it at the end of the day. Isn't it better to pay the market price for fuel and be sure that you can get it within minutes, rather than wasting so many days of one's life looking for "cheap" fuel that isn't there? Because that is the real situation Nigerians have been facing for years now. I haven't even mentioned the fact that this same costly fuel subsidy is one major reason why Nigeria saved nothing during the years when oil was $110/barrel, or that keeping it in place will completely blow up the 2016 budget, which already requires substantial borrowing. Would you rather have better electricity transmission and better road/rail links, or see billions poured into fuel subsidies whose main beneficiaries are smugglers and fraudulent importers? If you think I am wrong in anything I have said, I would appreciate a response that points out the gaps or errors in my reasoning, rather than trading insults or simply accusing me of "gallimufry". 2 Likes |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 9:34am On May 08, 2016 |
Voting this stone-cold nomad is a major blunder on my part! 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by nairakobo: 9:47am On May 08, 2016 |
omohayek: Just wanna let u knw dat ur civility is well spotted n appreciated. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 9:49am On May 08, 2016 |
omohayek: I posted the below sometime in February in response to another commenter, I'll just copy and paste here. Yes, fuel is N3.98 kobo (Three Naira, Ninety-eight kobo)/litre in Venezuela and, In furtherance, all those other side issues you rightly mentioned like power supply and most other ills, including the value of the Naira, are largely by-products of non-working refineries; with working refineries almost every other ill would be corrected. If we remove subsidy now, and no working refineries, and still import refined fuel, what happens if say oil ever goes to the $100/barrel range? Will we reverse policy and start paying subsidy again, or allow official pump prices in excess of N300/litre? Inflation? wages? For how long will we be doing this unproductive dance? With working refineries, the Naira will appreciate and pump price can be as low as N40-N50 or thereabout if the Naira appreciates, and the gov't and other refinery owners will still make money (at present oil prices). I wrote the below some while back, it might further help with where I am coming from. https://www.nairaland.com/3082768/nnpc-vs-customs-vs-cbn |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by henryutd(m): 9:52am On May 08, 2016 |
I have no problem with subsidy removal provided the price of Pms per litre won't be more than #40 according to Fashola. Global crude price still little above $40. At that price, fuel should be #35 per litre using Fashola's formula of 2014. I doubt if the formula is still working now. ![]() ![]() ![]() |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by 989900: 9:53am On May 08, 2016 |
Pump prices/l Venezuela: N3.98k ($0.02) Kuwait: N44.00 ($0.22) Turkmenistan: N57.77 ($0.29) Saudi: N47.76 ($0.24) Qatar: N71.6 ($0.36) Japan: 191.07 ($0.96) Singapore: N246.76 ($1.24) Brazil: N185.07 ($0.93) India: N183.23 ($0.92) China: N179.10 ($0.90) Nigeria: N87.50 ($0.44) Norway: N322.33 ($1.62) More at http://www.globalpetrolprices.com/gasoline_prices/ The above is for a wider perspective. |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 9:54am On May 08, 2016 |
VillageParrot: And all I will say to this is.....IT IS ABOUT TIME. Thing is....we do not have enough cash to subsdise fuel. Even back when oil was above $100 per barrel. When GEJ wanted to remove subsidy.....people like Sanusi Lamido Sanusi and Ngozi Okonjo Iweala...both agreed that it was the right idea. If we had removed the thing...by now we would have had more savings. (Of course...that does not mean we would have had a stable economy....economic successs is due to innovation and industrial development...not resource dependency). Nigerians should stop looking for cheap fuel.That era has long since been over. We were wrong to oppose the removal back in 2012...and we would be wrong now....especially as we need more naira to import the refined product.(till we build more refineries). Govt should use the savings from the subsidy removal to build more refineries. 2 Likes 1 Share |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 10:01am On May 08, 2016 |
Festivalofholi: 1.Glad you also think badly of GEJ too....since he too wanted to remove subsidy. 2.Subsidy was easy to keep when oil was above $100 per barrel. Now it is below $50 per barrel. We have to save money. Unless you want us to take a loan from the IMF to keep the subsidy......which means more problems later. Better face the reality. The reason why GSM works well is because OBJ did not bring out a subsidy on GSM phone bills. Either you have a secret plan to raise oil to $123 per barrel....which is where we need it to balance the books...or we face reality. We should have faced reality in 2012. 1 Like |
Re: Buhari Moves To Remove Fuel Subsidy, Begins Consultation With NASS by Nobody: 10:03am On May 08, 2016 |
emmalexabl: So you call being realistic about our fiances a scam? SMH for you. You people do not want a government....you want a mummy that would give you cookies and milk every day. What alternatives do you have? 2 Likes |
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