Until fuel subsidy is removed, fuel crisis remains imminent – Kachikwu

Minister of State for petroleum Resources, Mr. Ibe Kachikwu, Thursday, stated that until the downstream sector of the Nigerian petroleum industry is liberalized and subsidy of petroleum products removed, the country would continue to struggle and face challenges in terms of ensuring stable fuel supply. Kachikwu •Kachikwu: Hosted APC Northern leaders Speaking in Abuja, at the presentation of the key achievements of the Ministry of Petroleum Resources in three years, 2016 to 2018 and award to staff of the ministry, Kachikwu, argued that to address fuel supply challenges, the country needed to find a way to satisfy the need to provide products sufficiently for the populace and at the same time to be able to free the sector for growth. He said, “In the midstream and downstream sectors, we have struggled. I would love to see a day when there would be no fuel scarcity in this country. But for that to happen, there are certain realities. The liberalization of the sector is going to be a panacea to being able to solve this. As long as we continue to subsidise products, create market-unfriendly type practices, we would continue to struggle. “We are not going to trade our way out of the fuel crisis by bringing sufficiency, by expanding reserves, by extravagant costs which cost the country a lot of money; that is not the solution. The solution is to get our refineries working.” Kachikwu noted that investments are lacking in the petroleum sector, adding that over the years, refineries’ turn around maintenance, TAM, had been fraught with faulty models which had hampered the effectiveness of the refineries.

Read more at: https://www.vanguardngr.com/2018/12/until-fuel-subsidy-is-removed-fuel-crisis-remains-imminent-kachikwu/

Read more at: https://www.vanguardngr.com/2018/12/until-fuel-subsidy-is-removed-fuel-crisis-remains-imminent-kachikwu/

300/liter loading in 2019, next level!!

They championed the cause against GEJ removal of subsidy, they got to power, they increased pump price from N95 to N145 telling us the removed subsidy. Now they've stylishly start to campaign for subsidy removal. I guess we should be expecting rise in pump price anytime soon to N500/lt

homguy obekediamondfuto

Somebody should just travel in peace

Lols buhari ooooooo subsidy is a Scam...lols

lalasticlala mynd44

Something is in the offing. They've given an indication. This is tip. May be New Year message may not be palatable.

But can Kachikwu tell us what actually constitute the recent N145/litre price Nigerians are paying? The initial statement was the removal of subsidy and today the subsidy doubles what the PDP use to pay. Buhari will remain a reference point in Nigeria's history when lies, corruption, and dumb followers are taught.

By and large, OBJ, Tinubu, even Atiku must pay for the sufferings they brought on Nigerians

But fuel subsidy is a scam? and power supply is no rocket science? Integrity no kill this administration

Turantula:
But fuel subsidy is a scam? and power supply is no rocket science? Integrity no kill this administration

psucc:
Something is in the offing. They've given an indication. This is tip. May be New Year message may not be palatable.

But can Kachikwu tell us what actually constitute the recent N145/litre price Nigerians are paying? The initial statement was the removal of subsidy and today the subsidy doubles what the PDP use to pay. Buhari will remain a reference point in Nigeria's history when lies, corruption, and dumb followers are taught.

By and large, OBJ, Tinubu, even Atiku must pay for the sufferings they brought on Nigerians

I hope this people won't try shit o, cause Nigeria will burn if this foolish and useless government feels they can increase the price of fuel without increasing peoples salaries by more than 100%... There shall be total anarchy.

We're not fools, you increased fuel price from 87 to 148 without anything to show for it. I hope Nigeria will rise up as one this time around and make this country burn.

BabaOwen:
I hope this people won't try shit o, cause Nigeria will burn if this foolish and useless government feels they can increase the price of fuel without increasing peoples salaries by more than 100%... There shall be total anarchy.

We're not fools, you can't increase fuel price from 87 to 148 without anything to show for it.

Hehehe

Ghen - Ghen.. We don't need a soothsayer to tell us these idiots will increase pump price after election to launch us into their next level agenda

BabaOwen:
I hope this people won't try shit o, cause Nigeria will burn if this foolish and useless government feels they can increase the price of fuel without increasing peoples salaries by more than 100%... There shall be total anarchy.

We're not fools, you can't increase fuel price from 87 to 148 without anything to show for it.

Another don start with ona usual noise again.. When dem send army follow ona, ona go maintain

Frankiss44:


Another don start with ona usual noise again.. When dem send army follow ona, ona go maintain

All these na preamble for fuel price increase
Lalasticlala

Now your government is talking.Thought Buhari/APC said "Fuel subsidy does not exist? Subsidy is a fraud.".

And where now are the "Occupy Nigeria" protesters @ Ojota-Lagos in 2014-the Lauretta Onochies, Falanas, Prof.Soyinkas, the Nigerian celebraties etc.who only out of hatred choose to work against a president that have placed Nigeria then on a path to greatness?

And what have the subsidy cabal in the Buhari's presidency/NNPC done to us today? So can you all humbly yourselves and apologize to Jonathan?
Meanwhile fuel price must not be increase for any reason.

Mynd44 this is a front-page news. I have called your attention since yesterday... Why are you ignoring such an ominous news?

Cc
Seun

I beg to differ hon.minister,fix our refineries,have dem running and the issue of fuel crisis will be a thing of the past.

BabaOwen:
I hope this people won't try shit o, cause Nigeria will burn if this foolish and useless government feels they can increase the price of fuel without increasing peoples salaries by more than 100%... There shall be total anarchy.

We're not fools, you can't increase fuel price from 87 to 148 without anything to show for it.

If the people haven't revolted yet they never will. There is no straw that can break the back of Nigeria. Suffering and smiling until infinity and beyond.

The notorious subsidy that's not present and somehow not absent as well.
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What subsidy? The one Buhari already removed or the one that Tinubu and co manipulated Lagosians to hold the past administration hostage?

A times it baffles me when I try to place side by side most of the political decisions we make in SW against the average level of education of a South Westerner.

REMOVE IT NOW.....right NOW!

You mean after denyin and denying and denying the exisitence of any fuel subsidy this utterly useless govt is today telling us that we have been paying subsidy on fuel despite paying 145 Naira per litre for the lowest dirty grade of petrol there is ... in the last two days both Kachikwu and Fashola seem to be passing subliminal messages to Nigerians to vote out this evil govt., first it was Fashola that said Govt does not owe Nigerians electricity suppply and Kachikwu said the govt had not spent zero Naira on TAM maintenance of the refineries till date even though there seems to be appropriation for that .

inkon:
I think he has a point.

No point. We have no business importing what we produce!!

post=73827802:
REMOVE IT NOW.....right NOW!

Ehehehe....

See your life

Diesel is 260 without subsidy. Petrol hmmm

Buhari : I don't know what is fuel subsidy


Any body who supports this evil administration will not die well

You mean there is still subsidy or "under-recovery"?Same subsidy Buhari said it was a fraud and same subsidy they said,it has been removed.