Today have being a bad day for wailers..

tolexy007:
ok

Are you PMB??....

See me see Wahala oooo

This admin doesnt care about d common man...Ok now for travellers xpect to start paying double T.fair while ur bizness or salary is still d same. Wicked govt with no vision.

kunta2simple:

Run for your life.

run go where

MrTruth4real:

The real problem is unavailability of forex to import PMS, what the govt should do is devalue the naira, and make forex available until the modular refineries and dangote refinery is completed, then we can stop importing fuel.

You know if the naira is devalued, the landing cost would still be high and Govt will still have to pay the differential in the amount if they dnt want to increase fuel price at all.

I support them using the subsidy fee to fix power, increase minimum wage and other palliative measures.

So NLC & TUC go to hell

nija politicians outsmarting d masses since d days of elijah

haabimbohlar:
of course they will support, to be honest there wont be any strike.


i really want to be enlighten
they keep saying removal of subsidy but the vice president says there is no such thing but the hike in PMS is because there is no enough fund in the circulation at the moment.

What is the real situation?

this is what Mayflowa has as a reply for you.

Because as at that time the subsidy difference was no more than one naira and it was on government favour. At a point government get 6 naira for every litre of fuel you buy.

Right now, the subsidy difference is still not up to 10 naira. We are only pay so much more because CBN wanna withdraw from giving importers of fuel dollars at197 naira. They assume they will get dollars in black market at abt 285 naira. So the 145 naira per litre is to cover unofficial dollar rate.

Hope u get the gist

This is no news.

But ehnnn, since d introduction of dis new crazzy pump price, Most of d Petrol Station in my area dat were forming No Fuel don come get fuel overnight. We wicked sha for dis country ooo.

Honestly they really don't care and none of them has even bothered to speak to Nigerians about it, it's like a master and slave thing. We all know the removal of subsidy will be good in the long term but how will people get by when cost of living will surely be affected by the increase of fuel which has gotten worse before now which simply means it will get even worse. It's very sad that we have a people who are medieval at the helms of affairs of this country. We can only ask God for that saving grace to carry us through the hardships ahead and don't forget Ramadan is coming, it'll even get worse.

kings09:
U will still buy d product @ a higher price than 120. So it's beta they totally remove it now so dat dis govt n subsequent 1s hv no excuse of payin subsidy. Jst dat they did it witout tinkin of d harsh effects wld add to d alredy bad economy. Na thr Gej get sense pass dem

AntiWailer:


You know if the naira is devalued, the landing cost would still be high and Govt will still have to pay the differential in the amount if they dnt want to increase fuel price at all.

I support them using the subsidy fee to fix power, increase minimum wage and other palliative measures.

I tink is better if they devalue the naira and make forex available for importers, Rather than tell them to go and look for forex elsewhere (black market). The 145pl was derive from 280naira to the dollar, and parallel rate is about 340, so if these importers so go to black market to get dollars, we should be expecting fuel at about 200pl. The govt have no choice than to devalue and remove subsidy too.

FOLYKAZE:


this is what Mayflowa has as a reply for you.

Because as at that time the subsidy difference was no more than one naira and it was on government favour. At a point government get 6 naira for every litre of fuel you buy.

Right now, the subsidy difference is still not up to 10 naira. We are only pay so much more because CBN wanna withdraw from giving importers of fuel dollars at197 naira. They assume they will get dollars in black market at abt 285 naira. So the 145 naira per litre is to cover unofficial dollar rate.

Hope u get the gist

will appreciate more if you can expatiate more

But I think the president or his vice should approach Nigerians on national tv and explain this things better to Nigerians so we will know exactly what we will be facing, how long and if possibly which most likely should be, alternatives be provided. They're just forcing this change on people and it's very uncivilized.

FOLYKAZE:


this is what Mayflowa has as a reply for you.

Because as at that time the subsidy difference was no more than one naira and it was on government favour. At a point government get 6 naira for every litre of fuel you buy.

Right now, the subsidy difference is still not up to 10 naira. We are only pay so much more because CBN wanna withdraw from giving importers of fuel dollars at197 naira. They assume they will get dollars in black market at abt 285 naira. So the 145 naira per litre is to cover unofficial dollar rate.

Hope u get the gist

the VP is 100% right.

haabimbohlar:
of course they will support, to be honest there wont be any strike.


i really want to be enlighten
they keep saying removal of subsidy but the vice president says there is no such thing but the hike in PMS is because there is no enough fund in the circulation at the moment.

What is the real situation?

Whizzdom:
Yes. The Federal Government should find a way to sustain / better the lives of people.

We all know that Buhari alone cant fix this country overnight, the man (Buhari) is trying is best, but Nigerians needs to be sustained.

And the stupid NLC and TUC should call off the already planned strike that yield nothing but more pain to Nigeria's Economy.

Instead of them to be protesting for the increment of minimum wage from N18K to N90k, they are beating around the bush, they know what should be done, but what they will steal and cheap bribes wont let them see it.

God will help us.

NLC is useless. This is the perfect opportunity to fight for increment of workers wage but dem no get sense.

Many states are owning salaries for many months, NLC refuse to act. Na this one dem wan flex muscle.

EmekaBlue:
This admin doesnt care about d common man...Ok now for travellers xpect to start paying double T.fair while ur bizness or salary is still d same. Wicked govt with no vision.

What is the source of your data?

Syop spreading lies! At least I can confirm to you that the minimum wage in Qatar, UAE and Saudi is not what you've stated. In fact, there is no official minimum wage in most Arab countries.

holluwai:
But I think the president or his vice should approach Nigerians on national tv and explain this things better to Nigerians so we will know exactly what we will be facing, how long and if possibly which most likely should be, alternatives be provided. They're just forcing this change on people and it's very uncivilized.

The Minister of Petroleum has done that.

And there is this town hall meeting where Ministers and Vice President address people on the condition of the state and economy. The issue of Subsidy removal was discussed there. Lot of Nigerians were attandant and was coverage live. One hold in Lagos and other in Kaduna. Keep tap with news.

They tot they were leading animals as they forgot Nigerians r humans. Let's hope they get their senses back n quickly put things back on track. Prayers needed no doubt

holluwai:
Honestly they really don't care and none of them has even bothered to speak to Nigerians about it, it's like a master and slave thing. We all know the removal of subsidy will be good in the long term but how will people get by when cost of living will surely be affected by the increase of fuel which has gotten worse before now which simply means it will get even worse. It's very sad that we have a people who are medieval at the helms of affairs of this country. We can only ask God for that saving grace to carry us through the hardships ahead and don't forget Ramadan is coming, it'll even get worse.

popcykaylah:
these senate idiots...well they can sell it at 200naira but wetin me want na just three days strike make man rest

Lol.

I more than keep tab with the news sir but nothing was explained with proper analysis. And the town hall meetings, now you've mentioned it;maybe you can tell me when and where run next one is, will like to attend even if it's not by invitation.

FOLYKAZE:


The Minister of Petroleum has done that.

And there is this town hall meeting where Ministers and Vice President address people on the condition of the state and economy. The issue of Subsidy removal was discussed there. Lot of Nigerians were attandant and was coverage live. One hold in Lagos and other in Kaduna. Keep tap with news.

Anyone who doubts d statistic can google and see fr themselves

DropShot:

What is the source of your data?

Syop spreading lies! At least I can confirm to you that the minimum wage in Qatar, UAE and Saudi is not what you've stated. In fact, there is no official minimum wage in most Arab countries.

haabimbohlar:



will appreciate more if you can expatiate more

Subsidy has long been removed and deregulation was set in motion long ago. Subsidy was not budgetted for in 2016 budget and immediately the President signed the budget into law, people must come to reality that Subsidy is gone.

When the President sent the budget to National Assembly, it was reported that there is no provision for Subsidy in the 2016 budget http://sunnewsonline.com/no-provision-for-subsidy-in-2016-budget-pppra/ . The budget lingered for months in NASS and was only passed into law on 6 May 2016. Immediately President accent the budget, the next turn of action is implementation of Budget. Therefore, since there is no provision for it, Subsidy can be declared dead and gone.

Now, on the issue of 145 naira par litre, the reality is that oil marketers have to source their fx from a third party. The expectation of Government is that marketers will source dollar at an average of about N285 to the dollar, (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre. Government do not have enough fx to pay marketers as the later will take position of providing around 95% of oil products. The hike price was as a result of 285 dollar rate as against 199 naira officail govt rate. We are only paying more because CBN has pulled out of paying 197 naira per dollar and marketers will get dollar now @ 285 naira. So the difference makes the price drive up to 145 atmost.

The Vice president was right when he said the Government is not removing subsidy. The itch is that many people are not keeping tab with news coming from Presidency. Oil is selling @ 38 dollar. At that rate, there is no Subsidy required to be paid. In January, oil sells at 40 dollar and more and more profit was been made by the government. On a daily basis, government earn N647.2 million daily for removing subsidy. That is at the price of N86.50 per litre in petrol stations across the country, government was making an extra N16.18 per litre (http://www.vanguardngr.com/2016/02/savings-from-fuel-subsidy-removal-rise-to-n647m-daily/). This gave us savings amounting to N18.3bn between the period of six weeks http://nairametrics.com/nigeria-has-saved-n18-3bn-in-six-weeks-after-removing-oil-subsidy/ .

Like Osinbajo stated, Subsidy has been removed long ago and the current new price regime is not because budget was removed recently as believed but because CBN cant afford to provide dollar for oil marketers and the later have to source for exchange from a third party who will sell at 285 naira per dollar as against 197.

I hope this help

The removal of subsidy is the best thing to happen to this country. Where were the subsidy cabal when we were buying fuel N200 per litre. ? It's now they wan to strike. May THUNDER strike all the strike agitators DEAD !

Why do I get this feeling that Ikweremadu would make a good senate president better than Saraki. Despite being him an opposition I think the man has an intrest of this country at heart

We making progress, NLC and TUC open your eyes, this strike would be pointless

Other oil producing countries, their fuel pump price and minimum wage.

BiafraBushBoy:

Are you PMB??....

See me see Wahala oooo

make una face una matter.

MrTruth4real:

I tink is better if they devalue the naira and make forex available for importers, Rather than tell them to go and look for forex elsewhere (black market). The 145pl was derive from 280naira to the dollar, and parallel rate is about 340, so if these importers so go to black market to get dollars, we should be expecting fuel at about 200pl. The govt have no choice than to devalue and remove subsidy too.

You have a very valid point though.

SAMBATLAN:
make una face una matter.

I have nothing with the dude...
gerrit?

FOLYKAZE:


Subsidy has long been removed and deregulation was set in motion long ago. Subsidy was not budgetted for in 2016 budget and immediately the President signed the budget into law, people must come to reality that Subsidy is gone.

When the President sent the budget to National Assembly, it was reported that there is no provision for Subsidy in the 2016 budget http://sunnewsonline.com/no-provision-for-subsidy-in-2016-budget-pppra/ . The budget lingered for months in NASS and was only passed into law on 6 May 2016. Immediately President accent the budget, the next turn of action is implementation of Budget. Therefore, since there is no provision for it, Subsidy can be declared dead and gone.

Now, on the issue of 145 naira par litre, the reality is that oil marketers have to source their fx from a third party. The expectation of Government is that marketers will source dollar at an average of about N285 to the dollar, (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre. Government do not have enough fx to pay marketers as the later will take position of providing around 95% of oil products. The hike price was as a result of 285 dollar rate as against 199 naira officail govt rate. We are only paying more because CBN has pulled out of paying 197 naira per dollar and marketers will get dollar now @ 285 naira. So the difference makes the price drive up to 145 atmost.

The Vice president was right when he said the Government is not removing subsidy. The itch is that many people are not keeping tab with news coming from Presidency. Oil is selling @ 38 dollar. At that rate, there is no Subsidy required to be paid. In January, oil sells at 40 dollar and more and more profit was been made by the government. On a daily basis, government earn N647.2 million daily for removing subsidy. That is at the price of N86.50 per litre in petrol stations across the country, government was making an extra N16.18 per litre (http://www.vanguardngr.com/2016/02/savings-from-fuel-subsidy-removal-rise-to-n647m-daily/). This gave us savings amounting to N18.3bn between the period of six weeks http://nairametrics.com/nigeria-has-saved-n18-3bn-in-six-weeks-after-removing-oil-subsidy/ .

Like Osinbajo stated, Subsidy has been removed long ago and the current new price regime is not because budget was removed recently as believed but because CBN cant afford to provide dollar for oil marketers and the later have to source for exchange from a third party who will sell at 285 naira per dollar as against 197.

I hope this help

very well. Thanks a bunch