VanuatuWycombe:


Both present and past governments (the 3 arms) are not serious. They should have started the removal of subsidies in piecemeal 20, 25 years ago. By a now we would have gotten over it. Instead, they kept postponing evil days.
I, authoritatively, heard of a subsidy beneficiary who was collecting over N500million daily in 2014. He is one of the cabals. He till collects subsidy till today - a south westerner. They are part of the reasons our refineries died. They killed it and corrupted NNPC.

but Bihari categorically told us there is nothing like subsidy or is he lying and lacks integrity

sonofthunder:




The former VP does not mean well.

The refineries should be privatised not NNPC

the northerners will never agree to privatise nnpc because that's where all their relatives work. there's a reason Buhari nominated himself to be petroleum minister. northerners are mainly enjoying the lost in nnpc because deep in their hearts they feel they're oppressing the south by lording over the south's resources

xeju:

excuse upon excuse upon excuse. after your Godfather said he would fix all refineries didn't he factor this your economics into the whole picture or he's a moronic buffoon

1.Well, I have no godfather

2.Buhari , I have never voted for. And never will

3.Even if Buhari repiars all the refienreis, they aren't going to stay 'new' forever....which is why they have to make a profit to stay up to date, as well as to pay salaries for workers and so on

4.If you don't allow marketers to make a profit by controlling the price of fuel...they cannot make a profit to

a) Pay the refienreis for the petrol they refine from crude

b) Pay for the transport of the fuel to depot

c) Pay for the transport from depot to the marketers.

The problem with subsidy is that government charges below the production cost of a liter of fuel...to keep me and you and your mother happy, while at the end of the day, there isn't enough profit being made to fix the refineries...which is why we have bad refinereis in the first place.

And fixing them, while laudable won't solve the problem. At the end of the day, we will be refining fuel above N200 per liter here, while selling it at N162 OR lower....and the subsidy paid won't be enough.

There is a reason why I have supported subsidy removal since 2011. And why because of my support for subsody removal, I can never vote for a guy who was promising N40 fuel...because it was not going to happen.

Dammmmmmmmnnnn it ....

And who is the minister for petroleum again

Buhari and cohorts are COMMON THIEVES!

Zoharariel:


The same thing they said about NEPA. What exactly has changed?

This illiterate, certificateless, quota-system & fura da nono-drinking bastard President & his stupid Vice President said they were going to build us one Refinery every year. What stopped them from fulfilling their fake & useless promises?

I know that you’re a paid BMC charlatan as your moniker was just registered on Nairaland last month (August 27) and my spirit is strongly telling me that this is none other than “NASIR EL-RUFAI” hiding under this moniker because the nepotistic & tribalistic bastard has always been at the forefront of the Petroleum Subsidy removal.

But let me quickly make one thing clear to you. If you & your fellow direction-less rogues in Government dare tamper with the Subsidy; the only thing you will remember before we start hunting your bastard children like kangaroos in the wild while Nigeria is completely burnt down to ashes is that instead of reading about Tonto Dike, Annie Idibia & BBN; Nigerians will be reading your obituaries on the pages of newspapers & all social media platforms - Foolish, Despicable & Greedy Bastards!

Note: That stupid quota-system arithmetic you’re asking me about buying & selling of 10kg bag of rice should be directed to your brainless campaign managers & economic teams who met a bag of 50kg foreign rice at 8,500Naira when APC came to power in 2015 while the same bag is now being sold at over 40,000Naira.

Like I said earlier, if you tamper with the Petroleum Subsidy - AMA PA IYALAYA GBOGBO YIN NI!

If Nigeria is broke, it is very simple; shut down the National Assembly and all the MDAs with all their over-bloated & useless padded budgets. We do not need them because they are of no use to the average Nigerian.

You heard what Rotimi Amaechi said last week; “IF WE’RE NOT CAREFUL, WE’LL BE CHASED OUT OF ABUJA”.

https://dailytrust.com/amaechi-if-we-are-not-careful-well-be-chased-out-of-abuja

Yes, that is simply because Rotimi Amaechi’s cosmic extrasensory perceptor is in order and can detect the chaos & free-for-all anarchy that will ensue should you BASTARDS IN GOVERNMENT dare make another wrong move!

# the best piece I've read on naira land in a very looooooong time!

Thumbs up!
Buhari and cohorts are just a bunch of self serving CRIMINALS and their Waterloo looms.

Modrov:
The only way for the refienreis to work is simple.

Let marketers control the price of fuel...not the government. And privatize NNPC.

Sure, we would pay for fuel at N300 per liter or higher, but in return..THERE would be enough money to fix refineries, enough money to make them work.

And NNPC won't dare let the refineries run down because as a result...they would lose profits if they do.

And we would get more and more people investing in refineries.because NOW it is profitable to refine at home , rather than import.

Finally, we would stop the illegal smuggling of our subsidized fuel abroad.

Tissue of lies and propaganda.

In which economy do marketers determine price?

xeju:

but Bihari categorically told us there is nothing like subsidy or is he lying and lacks integrity

It’s sarcasm. A Level 8 officer in petroleum ministry knows there is subsidy regime let alone someone that was once a petroleum head during PTDF. Nigeria started subsidizing petrol since late 1970s and every successive government didn’t attempt to remove it because they felt it would affect their parties, politically. Even the Military didn’t attempt it. Both military and civilian saw/see the subsidy era as: first of all a Greek gift and, secondly, as a means of enriching their cronies. So subsidy is a to-me-to-you thing or what we could call chop, make I chop. Citizenry is eating subsidized fuel because we like free or cheap things , cabals are eating the bloated money from subsidy.

Go to Apapa and you will discover that what a lot of oil vessels declare on their manifest as import is not real. They under declare and bribe port officers so that they can offload little fuel here and carry the remaining ones to go and sell at higher prices in other West African countries. They will still come back and claim full subsidy on fuel that they didn’t supply.

All the value chain in our oil sector is corrupt.
So Buhari cannot say subsidy doesn’t exist except he was quoted out of context or he was joking.

lawkenoz:


Bro you just hit the point everyone else has been missing. We have this crude oil as a natural resource, if we drill out and refine the crude here with majorly local sourced means would we die? If we refine these things ourselves within the country shouldn't it stand to reason that it will cost less to do so here and sell the refined products at cheaper rate for our people then at international rates when we export them and make money from it?

Rather, we export the crude and import one of the refined derivates at international prices, then subsidize it with profits we made from the crude oil sale.....who cursed this nation abeg?

Ive heard of locally refined petroleum products done crudely by our brothers into bunkering that live in the creeks of ND, all it needs it's fine tuning and professional methods to make it feasible for the larger public.

Whenever you talk of this petrol stuff you hear landing cost and all what not....can't we refine it ourselves and enjoy it like an oil producer should?

Nigeria's case is a forgone one! Sad to say but that's just how it is! Speaking about the absurdity that is Nigeria gives me migraines. We move anyhow!

VanuatuWycombe:


It’s sarcasm. A Level 8 officer in petroleum ministry knows there is subsidy regime let alone someone that was once a petroleum head during PTDF. Nigeria started subsidizing petrol since late 1970s and every successive government didn’t attempt to remove it because they felt it would affect their parties, politically. Even the Military didn’t attempt it. Both military and civilian saw/see the subsidy era as: first of all a Greek gift and, secondly, as a means of enriching their cronies. So subsidy is a to-me-to-you thing or what we could call chop, make I chop. Citizenry is eating subsidized fuel because we like free or cheap things , cabals are eating the bloated money from subsidy.

Go to Apapa and you will discover that what a lot of oil vessels declare on their manifest as import is not real. They under declare and bribe port officers so that they can offload little fuel here and carry the remaining ones to go and sell at higher prices in other West African countries. They will still come back and claim full subsidy on fuel that they didn’t supply.

All the value chain in our oil sector is corrupt.
So Buhari cannot say subsidy doesn’t exist except he was quoted out of context or he was joking.

There's a video of him saying it