sulaak:



If you intend to prioritise the welfare of Nigerians then remove oil subsidies immediately because it doesn't exist in the first place. If Nigerians insist that subsidies exist, then the government will acquire $7 billion loans and share it among themselves.

If 96% of Nigerians are suffering, they should revolt and remove the government.


Buhari said fuel subsidies is corruption, Mele Kyari said oil subsidies have been removed in 2020, Fuel Consumption Data Is Crazy, Says Minister Timipre Sylva. Yet stupid Africans are debating what doesn't exist, while their own leaders rob them blind using foreign currency and fake fuel subsidies.

Buhari is the minister of petroleum, yet one single refinery is not working!

Fuel subsidy gone forever in Nigeria – NNPC GMD
ByBassey Udo April 7, 2020 3 min read

https://www.premiumtimesng.com/news/headlines/386370-fuel-subsidy-gone-forever-in-nigeria-nnpc-gmd.html

Bro,

I am sorry to say that you are shallow really.

I can't pick or grip your points. Where are you driving at. .

If you are saying there are no subsidies, then what are they removing? . . That means they are planning to multiply by times 3 present suffering of the masses by placing an artificial yoke of inflation on them. .

These guys are almost dead presently. . They should fix the leakages in the system. .

If Nigerians cannot even feed anymore. . A revolution will break out and the govt will be gone. . Or Nigeria may even be gone . That is the reality.

Revolution2022:
There is nothing like fuel subsidy.Buhati's government is stealing public funds in the name of paying subsidy.

There is a fuel subsidy

Landing cost of fuel is 282 naira. The same fuel is sold at 163 naira

The difference between both prices is paid as subsidy . Part of the money goes to NNPC, some to transporters (which is why fuel costs the same everywhere) part to marketers

NNPC also keeps costs low by refining petrol in low standard refineries in Holland and Belgium. This helps keep subsidy costs low.

The times when government reduces the amount spent on subsidy which manifests as an increase in prices,is what the Buhari administration calls removing subsidy .It has been done several times by several administrators which is why fuel does not cost 45 kobo as it did 41 years ago

As for why subsidy costs rise, in June last year landing cost of fuel was 232 naira. It is now 282. Subsidy costs rose accordingly.

And yes, most people dont want to go into local refineries because subsidy means government would set the price of fuel they sell and not pay them enough to cover the difference between thw production price and the sale price that government would force on them to keep subsidy costs low. That is how we also lost our four refineries. Subsidy meant governent forced them to operate at a loss meaning they could not pay for their upkeep because goverment wanted low fuel prices and low subsidy costs

No subsidy means we would have been paying at least 300 naira per liter for fuel by now.

[s]E costly for your flank o, we comin sell N2,800 down here in Onitsha. Sai baba[/s]

Ochys87:

Imagine say na Chinese financial institution come out to say dis trash, Nigerians for done dey condemn China but since its American IMF (an organization that doesn't care about d welfare of d ordinary Nigerians) Nigerians can't condemn them...I say we join hands together and condemn any foreign financial institutions that seeks to watch us suffer

Big time my man, Imf only wants to see the countries they aid suffer and crumble, and if Nigeria fails to pay they are ready to finance any organization be it a terrorist group to sabotage the countries economy, just like I said we haven't seen anything yet. The worst China did was disapproving giving us another loan.

BleedTears:
Lol are we truly independent?

How will IMF tell us what to do, are they going to share money to the citizens to use buy the fuel at exorbitant price?

Nigeria borrow borrow government is owing IMF. With crude oil wealth, Nigeria is failing to pay back the loan. So what are you guys doing with the oil money?
We are spending it on payment of fuel subsidy.
Hell no! Just stop the subsidy payment. Increase tax so you can raise our money.... Bla bla bla.

Anything to make Nigeria rise again is welcome...

Basicend:


Bro,

I am sorry to say that you are shallow really.

I can't pick or grip your points. Where are you driving at. .

If you are saying there are no subsidies, then what are they removing? . . That means they are planning to multiply by times 3 present suffering of the masses by placing an artificial yoke of inflation on them. .

These guys are almost dead presently. . They should fix the leakages in the system. .

If Nigerians cannot even feed anymore. . A revolution will break out and the govt will be gone. . Or Nigeria may even be gone . That is the reality.

It is not what they are removing but what they intend to do with the N3 trillion that they intend to borrow and share among themselves, especially during election years.

Last month the state petroleum minister said Fuel Consumption Data Is Crazy, in 2020 the GMD of NNPC said that fuel subsidy is gone forever. If we don't have the data on the fuel consumption and sold how can you subsidise what you don't know ?


Under GEJ in 2012 the PMS consumption was 11-20 million a day, last year it was a whopping 103 million litres per day ( all estimate) despite only the NNPC being responsible for importing PMS. Has Nigeria increased the number of cars on the road between 2012 to 2022.?

We were informed that oil subsidies will be removed in the 2022 budget and then last month the Buhari changed that position and insist that oil subsidies will now be imposed at a cost of N3 trillion, how did they work that figure.

The data seen by BusinessDay expose why Nigeria’s daily consumption of Premium Motor Spirit (PMS) – petrol – is currently at an unsustainable level, at 103 million litres per day.
https://businessday.ng/energy/oilandgas/article/nigerias-crazy-petrol-consumption-in-five-charts/

The era of fuel subsidy is gone forever in Nigeria, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said.

Speaking on an Africa Independent Television (AIT) programme on Monday, Mr Kyari said, “There is no fuel subsidy anymore in Nigeria. It is zero subsidy forever.”

https://www.premiumtimesng.com/news/headlines/386370-fuel-subsidy-gone-forever-in-nigeria-nnpc-gmd.html

backbencher:


There is a fuel subsidy

Landing cost of fuel is 282 naira. The same fuel is sold at 163 naira

The difference between both prices is paid as subsidy . Part of the money goes to NNPC, some to transporters (which is why fuel costs the same everywhere) part to marketers

NNPC also keeps costs low by refining petrol in low standard refineries in Holland and Belgium. This helps keep subsidy costs low.

The times when government reduces the amount spent on subsidy which manifests as an increase in prices,is what the Buhari administration calls removing subsidy .It has been done several times by several administrators which is why fuel does not cost 45 kobo as it did 41 years ago

As for why subsidy costs rise, in June last year landing cost of fuel was 232 naira. It is now 282. Subsidy costs rose accordingly.

And yes, most people dont want to go into local refineries because subsidy means government would set the price of fuel they sell and not pay them enough to cover the difference between thw production price and the sale price that government would force on them to keep subsidy costs low. That is how we also lost our four refineries. Subsidy meant governent forced them to operate at a loss meaning they could not pay for their upkeep because goverment wanted low fuel prices and low subsidy costs

No subsidy means we would have been paying at least 300 naira per liter for fuel by now.

If there are fuel subsidies please advise how Nigeria PMS consumption has been increasing since 2012. Mele Kyari said that there is no oil subsidies in 2020 so what are we subsiding, when we don't have any rational data on the number of vehicle on the roads and the daily fuel consumption.

For example, Matrix Energy, a company with less than 60 filling stations, lifted as high as 123.6 million litres of petrol in June 2021, while Total Nigeria plc, the only international oil company in Nigeria’s downstream sector with an extensive distribution network of over 570 service stations nationwide, lifted 24.3 million litres of petrol same period.

Also, A.A RANO Nigeria Limited with less than 100 filling stations lifted 115.4 million litres of petrol in June, while A.Y.M Shafa Limited, a company with less than 100 filling stations lifted as high as 89.2 million litres of petrol in the same period.
https://businessday.ng/energy/oilandgas/article/nigerias-crazy-petrol-consumption-in-five-charts/

sulaak:


How man



The option is to borrow N3-4 trillion to pay for subsidies that don't exist according to Mele Kyari.

Who will borrow them that for subsidy?? Why has subsidy more than double during this administration?? Are there explanations??

They destroyed the economy, created artificial inflation then want to remove subsidy?? Lol

INF you are the cause of economic woes of developing nations. You are dictating harsh conditions but those stealing our money back to advanced countries the borrower you do nothing.

ThinkSmarter:
They should remove the fuel subsidy
Improve power supply.
Improve accessibility to clean energy [Solar]
Those of you kicking against the removal of fuel subsidy should know that Nigeria economy is solely dependent on oil revenue.
And PMS is used more than AGO, DPK and LNG combined.
Worst case scenario is that most of the subsidized products are diverted to other West African countries where they still market the product without subsidy.
Before federal government will realize more capital for infrastructure development in railways, education, health, agriculture etc.
Subsidy must be removed.
Don't expect state governments to pay salaries smoothly, employ people, increase workers salary and carry out infrastructural development without increase in Federal allocation.


Remove the Fuel subsidy Now!
It's high time we make a crucial decision for our future and damn the temporal consequences.

Good morning, so it's now that removal of subsidy is necessary but where were you when your empty brain president protested that subsidy was a scam. Double standard is a form of hypocrisy.

Passionnn:

Nigeria borrow borrow government is owing IMF. With crude oil wealth, Nigeria is failing to pay back the loan. So what are you guys doing with the oil money?
We are spending it on payment of fuel subsidy.
Hell no! Just stop the subsidy payment. Increase tax so you can raise our money.... Bla bla bla.

I get, but not because I owe you will make you tell me what I must do.
There are ways to recover debts which is supposed to be in the agreement of the loan.

And not to come and command us say we must remove subsidy and increase tax.

iwaeda:


Someone whose live is only hanging on a thread

There's nothing wrong if his life is "only hanging on a thread" at his age. Reprehensible cretins like you said same about the Fulani dude in Aso Rock and he's still alive. Not sure you'll live up to their age though.

That is the language of a lender trying to recover his loans.

What else do you expect from IMF.

They don't care about Nigerians, but needs their fund.

Racoon:
This fuel subsidy or fraudulent subsidy under-recovery the sanctimonious Buhari government called it ought to have been removed since 2012 but they politicised the issue. Now it must go but they are in a dilemma to do so after removing fuel subsidy multiple times. Awon werey gbogbo.

So, it shouldn't have been opposed under the thieving, utterly corrupt GEJ government when there was oil boom? Oloriburuku!

the reason Singapore and china succeeded is because they kick out institutions like IMF, imf is a bank and like every bank they make money of your borrowing, if you are not borrowing they would go broke, so they give you advice and conditions that keep you in debate, so you can forever keep borrowing and they can forever keep getting rich off you. anybody listening to imf can never progress, if you think i lie mention just one country and listen to imf and progressed.

iwaeda:


https://www.vanguardngr.com/2022/02/imf-insists-on-fuel-subsidy-removal/

Fuel is been diverted to other countries; that is the job of the Police, Custom, army and other government agency assigned with the responsibilities of protecting our borders.
You think if Subsidy is removed this government will do anything extra from what has been done in Infrastructure? Never. They will award more contracts to their friends and the contracts won't be delivered and nothing will be done about it.
People still billions daily and no agency will report missing money.

The only thing I enjoy right now as a citizen of this country is fuel subsidy and nothing else.

ThinkSmarter:
They should remove the fuel subsidy
Improve power supply.
Improve accessibility to clean energy [Solar]
Those of you kicking against the removal of fuel subsidy should know that Nigeria economy is solely dependent on oil revenue.
And PMS is used more than AGO, DPK and LNG combined.
Worst case scenario is that most of the subsidized products are diverted to other West African countries where they still market the product without subsidy.
Before federal government will realize more capital for infrastructure development in railways, education, health, agriculture etc.
Subsidy must be removed.
Don't expect state governments to pay salaries smoothly, employ people, increase workers salary and carry out infrastructural development without increase in Federal allocation.


Remove the Fuel subsidy Now!
It's high time we make a crucial decision for our future and damn the temporal consequences.

backbencher:


There is a fuel subsidy

Landing cost of fuel is 282 naira. The same fuel is sold at 163 naira

The difference between both prices is paid as subsidy . Part of the money goes to NNPC, some to transporters (which is why fuel costs the same everywhere) part to marketers

NNPC also keeps costs low by refining petrol in low standard refineries in Holland and Belgium. This helps keep subsidy costs low.

The times when government reduces the amount spent on subsidy which manifests as an increase in prices,is what the Buhari administration calls removing subsidy .It has been done several times by several administrators which is why fuel does not cost 45 kobo as it did 41 years ago

As for why subsidy costs rise, in June last year landing cost of fuel was 232 naira. It is now 282. Subsidy costs rose accordingly.

And yes, most people dont want to go into local refineries because subsidy means government would set the price of fuel they sell and not pay them enough to cover the difference between thw production price and the sale price that government would force on them to keep subsidy costs low. That is how we also lost our four refineries. Subsidy meant governent forced them to operate at a loss meaning they could not pay for their upkeep because goverment wanted low fuel prices and low subsidy costs

No subsidy means we would have been paying at least 300 naira per liter for fuel by now.

Do you work with nnpc to know all this?

sulaak:


If there are fuel subsidies please advise how Nigeria PMS consumption has been increasing since 2012. Mele Kyari said that there is no oil subsidies in 2020 so what are we subsiding, when we don't have any rational data on the number of vehicle on the roads and the daily fuel consumption.

1. Increased population means increase in usage

2.Smuggling. Fuel costs over 350 naira in all our neighbours. It costs 162 here. What do you expect
( Venezuela has the same problems. Fuel costs equivalent of 40 naira due to heavy subsides. It costs over 500 in its biggest neighbouring country Colombia. Smuggling ensures)

3. Corruption, within and outside the NNPC.
People lie.

In 2020 when kyari made the comment, crude oil prices were too low for us to find revenue to pay any subsides. Plus low oil prices meant that the cost of producing a liter of fuel fell. Subsidy went

When crude prices began rising, government now had revenue to pay subsides which they started paying when landing cost rose above 163 naira due to rising cost of refining fuel

chloride6:
This country surprises me...

I thought the president was determined to tackle graft in the downstream petroleum sector but in the end he has no will to see through with his decision.

APC and gra gra...

By now PDP would have increased fuel prices jejely hereby sharing the burden between government and citizen but APC went to pass PIB, now their spineless selves can't follow through...

Not implementing the PIB put Nigeria at risk of losing key investments. They have collected the accolades for passing the PIB now is the time to collect the thorns too.

Guy, you are just typing Grammer with no deep understanding of what you are saying. .

What graft are they tacking on downstream sector. . Is that the significant issue affect economic recovery or liquidity in the system?

Is there no graft in budgetory allocations and all governmental processes?

All the borrowed funds how were they amortized?

The recovered looted funds, how were they appropriated?

Do you know how much they budget for kitchen allowance for themselves alone?

Why cant executive govt officials and legislators have just 1 or 2 cars allowed to them?

Do you know how much billions of dollars or borrowed funds have been waisted by Buhari into oil search in the north basin? When the world is diversifying to eco-friendly energy?

Do you know how much we pay for presidential aircraft fleet maintaining a day?

Why should we be paying forex for refining PMS, something we produce at our backyard. .? Can't our leaders objectively think on that?

But you are out here shouting Nigeria is loosing investment if subsidy is not removed. . Because you have an absorber that would cover u and your family. That is very narrow, myopic, shallow and selfish thinking bro. .


More than 92 percent Nigerians don't have that absorber that you have and their survival matters above all.

Wellness and well-being of the citizenry should be first.

Revolution2022:
Do you work with nnpc to know all this?

No, all this is the result of eleven years of reading and listening to understand subsides and why they are bad for us

Its a process that is still ongoing for me. I havr been, however opposed to subsidy retention since 2012

Ogun kill you!! They should remove what does not exist in the first place?? Buhari and Tinubu said fuel subsidy does not exist.. APC really bleeped up

ThinkSmarter:
They should remove the fuel subsidy
Improve power supply.
Improve accessibility to clean energy [Solar]
Those of you kicking against the removal of fuel subsidy should know that Nigeria economy is solely dependent on oil revenue.
And PMS is used more than AGO, DPK and LNG combined.
Worst case scenario is that most of the subsidized products are diverted to other West African countries where they still market the product without subsidy.
Before federal government will realize more capital for infrastructure development in railways, education, health, agriculture etc.
Subsidy must be removed.
Don't expect state governments to pay salaries smoothly, employ people, increase workers salary and carry out infrastructural development without increase in Federal allocation.


Remove the Fuel subsidy Now!
It's high time we make a crucial decision for our future and damn the temporal consequences.

Newton85:
So, it shouldn't have been opposed under the thieving, utterly corrupt GEJ government when there was oil boom? Oloriburuku!

It should have been removed even then

Subsisy costs were sky high under gej, which is why he wanted it gone

backbencher:


It should have been removed even then

Subsisy costs were sky high under gej, which is why he wanted it gone

There was an oil boom under GEJ so people rightly protested against the thieves wanting to remove subsidy.

Basicend:


Guy, you are just typing Grammer with no deep understanding of what you are saying. .

What graft are they tacking on downstream sector. . Is that the significant issue affect economic recovery or liquidity in the system?

Is there no graft in budgetory allocations and all governmental processes?

All the borrowed funds how were they amortized?

The recovered looted funds, how were they appropriated?

Do you know how much they budget for kitchen allowance for themselves alone?

Why cant executive govt officials and legislators have just 1 or 2 cars allowed to them?

Do you know how much billions of dollars or borrowed funds have been waisted by Buhari into oil search in the north basin? When the world is diversifying to eco-friendly energy?

Do you know how much we pay for presidential aircraft fleet maintaining a day?

Why should we be paying forex for refining PMS, something we produce at our backyard. .? Can't our leaders objectively think on that?

But you are out here shouting Nigeria is loosing investment if subsidy is not removed. . Because you have an absorber that would cover u and your family. That is very narrow, myopic, shallow and selfish thinking bro. .


More than 92 percent Nigerians don't have that absorber that you have and their survival matters above all.

Wellness and well-being of the citizenry should be first.

You made a lot of sense. Good post

However subsidy has to go.

If we did all you suggest, the money raised wont adequately cover subsidy costs.

The problem is the cost of production rises and keeps rising

Plus after you cut costs the money would only be enough for a year.

Then we have other sectors like education, health, transport that need the money too

Finally, Nigeria does not make enough money in the first place.subsidy removal means more investment, more profit, saved money higher than what we can get from cutting goverment spending and thus more prosperity.

Newton85:
There was an oil boom under GEJ so people rightly protested against the thieves wanting to remove subsidy.

And it should have gone anyway.

We were losing trillions spending money on the thing. Just as we about to lose trillions on subsidy now.

With the oil boom money we would have been able to payfor palliative plus more people would have built refineries and Dangote wont be doing monopoly because it would have made sensefor banks to lend .money to potential refinery developers

ThinkSmarter:
They should remove the fuel subsidy
Improve power supply.
Improve accessibility to clean energy [Solar]
Those of you kicking against the removal of fuel subsidy should know that Nigeria economy is solely dependent on oil revenue.
And PMS is used more than AGO, DPK and LNG combined.
Worst case scenario is that most of the subsidized products are diverted to other West African countries where they still market the product without subsidy.
Before federal government will realize more capital for infrastructure development in railways, education, health, agriculture etc.
Subsidy must be removed.
Don't expect state governments to pay salaries smoothly, employ people, increase workers salary and carry out infrastructural development without increase in Federal allocation.


Remove the Fuel subsidy Now!
It's high time we make a crucial decision for our future and damn the temporal consequences.

I believe we can bear the hardship that comes with removing it...but are u sure the money won't be looted ?most of the foreign loans are been looted...what's the purpose of enduring hardship for the elites to keep embezzling...

Basicend:


Guy, you are just typing Grammer with no deep understanding of what you are saying. .

What graft are they tacking on downstream sector. . Is that the significant issue affect economic recovery or liquidity in the system?

Is there no graft in budgetory allocations and all governmental processes?

All the borrowed funds how were they amortized?

The recovered looted funds, how were they appropriated?

Do you know how much they budget for kitchen allowance for themselves alone?

Why cant executive govt officials and legislators have just 1 or 2 cars allowed to them?

Do you know how much billions of dollars or borrowed funds have been waisted by Buhari into oil search in the north basin? When the world is diversifying to eco-friendly energy?

Do you know how much we pay for presidential aircraft fleet maintaining a day?

Why should we be paying forex for refining PMS, something we produce at our backyard. .? Can't our leaders objectively think on that?

But you are out here shouting Nigeria is loosing investment if subsidy is not removed. . Because you have an absorber that would cover u and your family. That is very narrow, myopic, shallow and selfish thinking bro. .


More than 92 percent Nigerians don't have that absorber that you have and their survival matters above all.

Wellness and well-being of the citizenry should be first.

You didn't give people shock absorbers for food, rent, school fees, cooking gas, clothing because there is no money to steal there, it is the one FG can easily steal money , they are concerned about shock absorbers.

Thieves!!

ThinkSmarter:
They should remove the fuel subsidy
Improve power supply.
Improve accessibility to clean energy [Solar]
Those of you kicking against the removal of fuel subsidy should know that Nigeria economy is solely dependent on oil revenue.
And PMS is used more than AGO, DPK and LNG combined.
Worst case scenario is that most of the subsidized products are diverted to other West African countries where they still market the product without subsidy.
Before federal government will realize more capital for infrastructure development in railways, education, health, agriculture etc.
Subsidy must be removed.
Don't expect state governments to pay salaries smoothly, employ people, increase workers salary and carry out infrastructural development without increase in Federal allocation.


Remove the Fuel subsidy Now!
It's high time we make a crucial decision for our future and damn the temporal consequences.

removing the subsidy is not the issue here...our leaders will still not manage the resources well there by looting more of it. Inflation will still be on the rise and will in turn affect the price of the importation of fuel which the price will later increased because the downstream has been deregulated. We all know who will be on the receiving end .why are we painting the subsidization as a bad thing as if we don't have any other country subsidizing fuel for her citizens and even the almighty America do subsidized fuel,just to mention a few.

backbencher:



You made a lot of sense. Good post

However subsidy has to go.

If we did all you suggest, the money raised wont adequately cover subsidy costs.

The problem is the cost of production rises and keeps rising

Plus after you cut costs the money would only be enough for a year.

Then we have other sectors like education, health, transport that need the money too

Finally, Nigeria does not make enough money in the first place.subsidy removal means more investment, more profit, saved money higher than what we can get from cutting goverment spending and thus more prosperity.

The point you guys have not yet seen is that the so called revenue that would come from fuel subsidy removal will still be siphoned for coming election purposes and pockets of our politicians.

Nigerian will get less that 15 percent of it as drop down. That is definite.

Bro, haven't you see ln the tracks for.many years. . Our politicians will just impoverish the mercies and divide the monies as usual.

Who cares. . This is the only way the masses can get anything from these selfish leaders.

Oyiboman69:
removing the subsidy is not the issue here...our leaders will still not manage the resources well there by looting more of it. Inflation will still be on the rise and will in turn affect the price of the importation of fuel which the price will later increased because the downstream has been deregulated. We all know who will be on the receiving end .why are we painting the subsidization as a bad thing as if we don't have any other country subsidizing fuel for her citizens and even the almighty America do subsidized fuel,just to mention a few.

That is what those guys don't see.

Putting money in the hands of Nigerian politicians and expecting proper appropriation is like saying Leeds United will win EPL.