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Nairaland Forum / Nairaland / General / Politics / Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy (15481 Views)
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Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by OBAGADAFFI: 11:46am On Dec 27, 2017 |
AZeD1: LOL, You mean FIRS and Customs dont get allocations? http://www.pulse.ng/news/local/buhari-president-sends-2016-budgets-of-nan-nnpc-36-others-to-nass-id5282978.html https://www.businessdayonline.com/senate-passes-n152bn-2017-budget-firs/ |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by kaystick86(m): 11:47am On Dec 27, 2017 |
What's the difference between NNPC and FG. Pastor Osinbajo stop covering up for this people |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by Kennykenty(m): 11:48am On Dec 27, 2017 |
AZeD1:when d price of crude oil was lower, what did we have? |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by eph12(m): 11:48am On Dec 27, 2017 |
AZeD1:Yes I believe the VP meant crude oil swap for petroleum products. But if crude oil worth 1 billion is swapped for petroleum products worth 700 million, how is this different from paying cash? Is this money not supposed to be used by the government in other sectors and to fulfill campaign promises? 3 Likes |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by irumanle(m): 11:48am On Dec 27, 2017 |
ivandragon:My thought too. Buharists yaf landed us in deep shit. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by OBAGADAFFI: 11:48am On Dec 27, 2017 |
kaystick86: Don't mind those liars |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 11:49am On Dec 27, 2017 |
hegelian:Dude you need to understand the concept of legal entities. Mike Adenuga owns Globacom. Saying Globacom paid for something is not the same thing as saying Mike Adenuga paid for that thing. The FG is the largest shareholder of the NNPC. The FG is not the same thing as the NNPC. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by Nobody: 11:50am On Dec 27, 2017 |
eph12: Because we were not earning enough dollars due to crude falling, the naira value fell, and the price of PMS went up. By the way, I am beginning to understand part of the reason why GEJ did not save....when he was forced to reverse his subsidy removal, dipping into the reserves became inevitable to keep subsidy costs up. ...because we were importing fuel heavily, and prices were lower because of high dollar inflows then. We must deregulate 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by stephozien: 11:50am On Dec 27, 2017 |
...and to think that this was a pst turns politician with such a silly comments. NNPC is own and manage by private entity , l almost forgot.... You can fools some but not everyone always. Govt of deceit by the deceit without iota of sincerity... |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by odogwubiafra: 11:51am On Dec 27, 2017 |
AZeD1: And if their revenue target is #10B and they generate same, but are to pay #1B for subsidy, will they still remit the generated amount, or the difference to accommodate the subsidy payment. In your analysis, they will remit the #10B generated, may be share their staff members AK47 to go steal the #1B for the subsidy payment. Anu mpam. 2 Likes |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by Nobody: 11:53am On Dec 27, 2017 |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 11:54am On Dec 27, 2017 |
OBAGADAFFI:Has the Budget for NNPC bring passed for this year? You need to understand how revenue generating agencies work in Nigeria. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by 9japrof(m): 11:55am On Dec 27, 2017 |
AZeD1: I think you are shooting yourself more in the feet, if NNPC is the sole importer of PMS, why the scarcity, does it mean the government and it's agency are part of the grand conspiracy to ensure there is fuel scarcity? If the NNPC, is the sole importer, why blame petroleum marketers? If the government does swapping as alledged, why are we still paying for subsidy sicne it's a kind of trade and batter transact. Osibanjo has lied many times in the past, he has said things that contradicted what his masters have said even including the chief lair in the information ministry, so Osibanjo has lost all morals remaining in him since he joined the government, so don't go there... |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by jdleo32(m): 11:56am On Dec 27, 2017 |
THIS GOVT. IS SO FULL OF COMEDY. EVEN PROF. OSINBANJO HAVE BEEN REDUCED TO THE FACT THAT HE NOW DEFENDS THE TRUTH. SO @ 145 WE ARE STILL PAYING SUBSIDY. THIS IS HELL ON EARTH THE SAME PPL WHO FORCED JONATHAN NOT TO INCREASE FUEL PRICE AT THE DETRIMENT OF THE THE CABALS. NOW HAVE CREATED MORE ROOM FOR THE CABALS THEM SELVES. THIS GOVT. IS THE MOST INCOMPETENT EVER EVEN ABACHA IS BETTER THAN THESE FOOLS. I JUST PITY WHO EVER THROWS HIS SUPPORT BEHIND THE IDIOTS AGAIN. WHAT PRACTICALLY HAPPENED IS THAT BUHARI FORCED UNTOLD HARDSHIP ON THE CITIZENS BY NOT COMING ON BOARD WITH A GAME PLAN. FORCE PRICE ON ESSENTIAL COMMODITY TO INCREASE BY AND AVERAGE 200% WHILE DOLLAR STRENGTHEN AGAINST THE NAIRA SO THE FULL BENEFIT OF THE SUBSIDY WAS FULLY ADJUSTED TO WHAT IT WAS PRESUMED TO BE. TOMORROW THOSE BMC WOULD WANT TO GIVE US REASON TO VOTE IN THIS INCOMPETENT FOOL FROM THE JUNGLE. JONATHAN WHOLE CORRUPTION IS FAR MORE BETTER THAN INCOMPETENCE. SO FAR THE ONLY THING THEY HAVE DONE IS TO RECOVER LOOTED FUND WHICH IS GOOD BUT PLEASE WE HAVE LOST A MANY TO MUCH TO CONTINUE. WE MUST CHANGE THIS SET OF INDIVIDUAL. FUNNY ENOUGH HIS CREW IS FILLED WITH HIS RELATIVES THAT MAKES IT TOTAL HARD FOR HIM TO RUN A COMPETENCE TEST ON OR START LAYING OFF MINISTERS WITH LOW PERFORMANCE INDICES. IT IS RATHER LATE FOR US TO COMPLAIN EVEN THE OPPOSITION ARE NOT VIABLE ENOUGH. THOSE WHO SOLD THIS ILL ADMIN TO THE PUBLIC STRUGGLE TO DEFEND THEM AND CANT GO BACK TO THIER VOMIT. HAHAHAAHHA WE ARE DOOOOOOOMMMMMMMMEDDDDDDDD 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by eph12(m): 11:58am On Dec 27, 2017 |
9jakohai:This was obvious then to those that cared to understand what's really happening. We just wanted GEJ out which was understandable but Buhari was elected for the wrong reasons. Until we become self reliant in things that consume our forex like petroleum products, electronics, clothes and shoes, we'll never move forward. When GEJ wanted to remove subsidy I was in support, same with Buhari because it has to go. But both present and past administration has shown they don't know what to do next. Buhari has to go come 2019 for our children sake period 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 11:59am On Dec 27, 2017 |
eph12:The NNPC is a black box that has been running at a loss for a very long time. I think the NNPC only generated a profit in the time of Ibe Kachikwu. The NNPC reserves an amount of crude oil produced for internal consumption. That amount can be increased or decreased as the NNPC deems fit. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by OBAGADAFFI: 12:01pm On Dec 27, 2017 |
AZeD1: Is the FIRS no longer revenue generating agencies? By logic if revenue generating agencies don't get allocations. Why is the FIRS getting budget allocations. Why is President Buhari including NNPC in the Yearly Budget Proposal? |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:02pm On Dec 27, 2017 |
9japrof:Other importers stopped importing because the FG refused to increase price. That's why there is scarcity. Osibanjo lying is not my business. 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by lograr(m): 12:03pm On Dec 27, 2017 |
ivandragon: He just indirectly told you that NNPC has been sold. probably to themselves. So he is right. lol |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by hegelian: 12:05pm On Dec 27, 2017 |
AZeD1:Mr Man stop exposing your ignorance....and when globacom commit fraud or treason who will be prosecutedthe fiinance director abi?? when innoson motors was accused why was the owner arrested and not the general manager why did we blamed gej for the stealing that happened under NNPC and GEJ for the rot in aviation at the time?chief the more you talk, the more look somehow so just keep it..i will be using your point to knock you without brinong any other point from outside eventhough there are plenty of examples we go just dey hear new things from you guy..imagine FG is not the owner of NNPC 2 Likes |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by OBAGADAFFI: 12:06pm On Dec 27, 2017 |
https://www.premiumtimesng.com/news/231610-budget-osinbajo-responds-to-senate-ultimatum-directs-nnpc-others-to-comply.html The acting president, Yemi Osinbajo, has issued an executive order outlining the timeline and procedure for government offices to submit their yearly budgets, less than two days after the Senate demanded offices comply with the relevant fiscal law within two weeks. The Senate had on Wednesday asked Mr. Osinbajo to ensure the submission of the budgets of 31 government establishments, including the Nigerian National Petroleum Corporation and the Nigerian Ports Authority. Section 21 of the Fiscal Responsibility Act demands that proposed revenue and expenditure of the mostly 31 revenue-generating and state-owned companies be submitted to their supervisory ministers not later than end of August of each financial year. Lawmakers have for years accused powerful agencies like the state oil firm, NNPC, of non-compliance. The Senate said the executive had breached the law “year in year out”, and issued a two-week ultimatum for compliance. 2 Likes |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:07pm On Dec 27, 2017 |
OBAGADAFFI:Buhari only put NNPC in 2016 budget and that's because the Senate has been fighting against arbitrary spending by revenue generating agencies. This has been going on since time memorial. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by Nobody: 12:07pm On Dec 27, 2017 |
AZeD1: Exactly You can't import as an independent marketer at 171 and be forced by nnpc to sell at 145.! Another reason to deregulate. Let nnpc sell at n145, others can set their prices |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by bigstan11787(m): 12:08pm On Dec 27, 2017 |
D govt is jus a bunch of comedy, y re dy sti talkin about subsidy wen subsidy has ben remove over two yrs ago, what has dy don with d money, [color=#990000][/color] 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by eph12(m): 12:12pm On Dec 27, 2017 |
AZeD1:Really? Internal consumption that will be enough to subsidize for over 100 million people? You don't have enough info to defend your stand. 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:13pm On Dec 27, 2017 |
OBAGADAFFI:This part here is what I have been trying to tell you. Do you know why they can flout the law, because they make money unlike non revenue generating agencies that need money to be given to them. I am not arguing for the legality of what the agency are doing, I am saying when the VP says that NNPC not the FG is paying for the subsidy, he knows what he is saying. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by jdleo32(m): 12:13pm On Dec 27, 2017 |
AZeD1: THEY STOPPED because FG WANTED TO HIDE THE FACT. WHAT IS THE FACT IN QUESTION= THE PUMP PRICE INCREASE AS NAIRA DEPRECIATED(WHICH WAS THE GROSS NEGLEGENCE OF THE BUHARIMETRIC) AND NOW THE ORDINARY MAN HAVE TO PAY FOR IT |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:14pm On Dec 27, 2017 |
eph12:What is my stand? |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:15pm On Dec 27, 2017 |
9jakohai:Dude I'm all for deregulation. 1 Like |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by AZeD1(m): 12:18pm On Dec 27, 2017 |
hegelian:Innoson motors wasn't accused, Chukwuma Innoson was the one accused. If you don't understand the concept of Legal entities, I can't help you. |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by trillville(m): 12:20pm On Dec 27, 2017 |
AZeD1: when GEJ said stealing is not corruption, he was right in the legal sense. However his statement was insensitive and foolish. This isn't about being right based on the law. Logically, Osinbajo is trying to justify an unjustifiable position. 2 Likes |
Re: Osinbajo: NNPC — Not FG — Bearing Cost Of Subsidy by ochiosa(m): 12:21pm On Dec 27, 2017 |
AZeD1:does it then mean that deregulation remains the only solution? |
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