GloriousGbola:
The more we delay ending the subsidy the worse it will be. This is like cancer that has metastasized. It will be difficult and painful to remove, but the more we delay, the harder it will be.

There will never be a good time to remove the subsidy. The best time would have been the Obj years when money was flowing. Now there is no fking money.

People seem to be missing the point; are we saying Nigeria should be paying international equivalent market rate for PMS

Segedinho:

So Baba wey get ball don run go court....



O lo lo lo lo

Olowunl01:


Chief I am surprised at your submission seeing that I view your as someone with more knowledge of the industry... Subsidy is not removed when we have NNPC as sole importer and govt agency determining the price....

People seem to be missing the point; are we saying Nigeria should be paying international equivalent market rate for PMS lets start from here? make we start here first, cos I don't get all this talk about having subsidy equating to people not ready for Nigeria to develop, most of us studied under subsidized education am guessing it should apply to education too, and probably health naa.

Coz this seem to me like that standard scam govt dey run, where they will now climb down to N250 per litre as new price with promise of putting things in place to totally remove subsidy in future...

Leaving us back to square1 where we don't have genuine figures of what subsidy was paid to whom or genuine consumption figures as per the NLC chairman's interview.

OasisX:




Kò sọ gbọn to lè dá, kò sì wá to lè wù, kò sọ na to lè gbà, to lè fi tẹ ààyè lọ́run ó. Last time I checked, Judiciary is arm of Government.

GloriousGbola:


The subsidy represents a parallel market where fuel is sold at x dollars in Nigeria and 3x dollars outside Nigeria. As long as this persists there will never be accurate fuel consumption numbers because a person can literally make millions in a trip moving a truck to the border. He is buying at n1 and selling at n3 or greater.as a naija matter all he needs to do is identify the ogas that need to be settled and he is good to go.

On a lower scale we have pump meter manipulation where a pump is adjusted to read 21 - 22 litres for every 20 litres. Dealers can literally kill you if you get in the way. And they are settling dpr, corporate, and Co.

Now multiply that money and tell me what you think will happen.

Segedinho:

Oh I forgot.

😆😆

iamoyindamola:

How is this manipulation na, if a truck is transporting 20 liters of petrol before it reaches it destiny the 20 liters would have reduced
So taking 21 for 20 liters ain’t manipulation even diesel that doesn’t dry up quickly like petrol have the same measurement

This your Mathematics no go fly, sir

If we agree that 2 litres is lost for every 20 litres, you are indirectly saying for every 33,000 litres (one tanker), 3,300 litres can be lost.

Even if you drive from here to Sokoto, how can 3,300 litres disappear?

izzou:


This your Mathematics no go fly, sir

If we agree that 2 litres is lost for every 20 litres, you are indirectly saying for every 33,000 litres (one tanker), 3,300 litres can be lost.

Even if you drive from here to Sokoto, how can 3,300 litres disappear?

OasisX:




Ẹ̀gbọ́n......give our administration chance to prove ourselves. We mean well for every Nigerian.

Segedinho:

Lols......


Sunday wey go bubble .na Saturday dem dey know

OasisX:




......and so far, the Saturday seems lively and interesting.

GloriousGbola:


That is your version of events

What you forget or are unaware is that we have had the subsidy going back to the 70s. It was never controversial until the gej administration when it became a free for all scam. It was under gej that numerous briefcase companies were given licenses and paid for bringing in nothing. This was when the subsidy ballooned and never really came down after that.

And gej rather than prosecute the numerous easily identified scammers, opted to kill the subsidy.

I have been looking for the article where wale Tinubu, then moman chairman wrote a letter complaining about the proliferation of briefcase companies that were literally delivering millions of litres on paper.

Somehow in all of this, the major marketers became the boogeymen.

The person who sabotaged himself was gej who made no announcement of any kind but chose to slap people with a subsidy removal on jan1 2012 without any prior warning. No one brainwashed any public. It was an unforced error. Gej style.

1. Throw away the salad of corruption in NNPC

2. Lay foundation for a mass transit system in the railways and road network with long term bonds

3.Develop the energy sector and revitalize Nigeria’s economy

Segedinho:
wey baba don dey drag us go court even Multiplying our hardship by 3..

iamoyindamola:

No I am saying 1or 2 liters is not manipulation in the total quantity not every 20 liters

izzou:


His point was based on every 20 litres

So imagine a station getting an extra 3,300 fraudulently

GloriousGbola:


The subsidy represents a parallel market where fuel is sold at x dollars in Nigeria and 3x dollars outside Nigeria. As long as this persists there will never be accurate fuel consumption numbers because a person can literally make millions in a trip moving a truck to the border. He is buying at n1 and selling at n3 or greater.as a naija matter all he needs to do is identify the ogas that need to be settled and he is good to go.

On a lower scale we have pump meter manipulation where a pump is adjusted to read 21 - 22 litres for every 20 litres. Dealers can literally kill you if you get in the way. And they are settling dpr, corporate, and Co.

Now multiply that money and tell me what you think will happen.

Unlimited22:
Because of YOU ALL, Pitakwa Boy is in the top 150 in the African literature section of Amazon.


Thank you. Thank you.

Olowunl01:

You have not addressed my questions, everybody knows that subsidized PMS is being smuggled across the border - which is a govt failure? We speak as if govt agencies are not active participants and enablers of this scam, we are speaking about truckload of PMS not some 50 litre gallons being sped across border line on motorbikes.

The core of my question is are we saying we want to remove subsidy so that PMS price reflect international prices? Leaving it to market forces? Full deregulation

Cos what we have right now is NNPCL annoucing a price; being sole importer whilst a govt agency is still regulating price cos Dangote will come on stream and nothing or very little will change, me and you know that N511 is not international price except using govt FX rate, which based on Kyari is what is happening? So in essence we are still subsidising FX, if not we should be looking at N800 per litre..

I see from your previous submission that PMS had been subsidized since the 70's when we had better public transport system and electricity compared to now, the only reason PMS subsidy is an issue is a failure of govt to curb abuse and corruption surrounding it.

Chief - we cannot seriously be saying that a country that produce IT unicorns cannot find solution to curb this problem; Mr. Kyari I heard speak is a smart guy that if genuine and given honest political backing, or anybody else who is genuine would fix - this is my biggest dissapointment with Buhari, but like everything Nigeria we always go for the shortcut...

BlueRayDick:


If GEJ allowed for proliferation of briefcase companies posing as oil marketers which allowed subsidy payment to balloon as u claim in the bold, what did his successor do about it ?

We’ve all agreed Jonathan failed in the art of governance ; reason why he was kicked out of office . What did his successor do about it ? How many of the briefcase companies did he prosecute , how many were delisted and how come for 8 good years they couldn’t put measures in place to determine exactly how much pms we consume daily ?

The good thing about all of these is that Tinubu himself knows what needs to be done before subsidy should be removed and it’s on record he put his thought to paper in 2012 by rightly saying for subsidy to go , then these things should be put in place



The question now is why is nobody telling Tinubu to put his 2012 thoughts to action now that he has the mantle of leadership ? Let’s even say he had no hand in government in the last 8 years , now that he does why is he going for “killing subsidy “ which u refer to as unforced error while u were discussing GEJ up there ?

BlueRayDick:


Sometimes last year , I shared Professor Ndubuisi Ekekwe’s proposal tracking our daily petroleum consumption. The man submitted his proposal to Buhari’s team at the height of deliberations on the future of subsidy .

Guess what ? The man’s proposal was not given much thought . …… They didn’t even bother to hear him nor consider the workability of his plans . Here’s someone who invented and patented a robotic system which the US government was impressed enough to acquire assignee rights .

Honestly I’m not moved by Kyari’s eloquence in that interview cos for all his eloquence , he’s no better than other NNPC chairmen/GMD who couldn’t actually put an accurate figure of what we consume

BlueRayDick:


Sometimes last year , I shared Professor Ndubuisi Ekekwe’s proposal tracking our daily petroleum consumption. The man submitted his proposal to Buhari’s team at the height of deliberations on the future of subsidy .

Guess what ? The man’s proposal was not given much thought . …… They didn’t even bother to hear him nor consider the workability of his plans . Here’s someone who invented and patented a robotic system which the US government was impressed enough to acquire assignee rights .

Honestly I’m not moved by Kyari’s eloquence in that interview cos for all his eloquence , he’s no better than other NNPC chairmen/GMD who couldn’t actually put an accurate figure of what we consume

Olowunl01:

You have not addressed my questions, everybody knows that subsidized PMS is being smuggled across the border - which is a govt failure? We speak as if govt agencies are not active participants and enablers of this scam, we are speaking about truckload of PMS not some 50 litre gallons being sped across border line on motorbikes.

The core of my question is are we saying we want to remove subsidy so that PMS price reflect international prices? Leaving it to market forces? Full deregulation

Cos what we have right now is NNPCL annoucing a price; being sole importer whilst a govt agency is still regulating price cos Dangote will come on stream and nothing or very little will change, me and you know that N511 is not international price except using govt FX rate, which based on Kyari is what is happening? So in essence we are still subsidising FX, if not we should be looking at N800 per litre..

I see from your previous submission that PMS had been subsidized since the 70's when we had better public transport system and electricity compared to now, the only reason PMS subsidy is an issue is a failure of govt to curb abuse and corruption surrounding it.

Chief - we cannot seriously be saying that a country that produce IT unicorns cannot find solution to curb this problem; Mr. Kyari I heard speak is a smart guy that if genuine and given honest political backing, or anybody else who is genuine would fix - this is my biggest dissapointment with Buhari, but like everything Nigeria we always go for the shortcut...

GloriousGbola:



The man is not saying anything new. These systems already exist. At the most basic you enter your tank reading every day into an online database. Or you have atg probes recording your tank level each day. Up to a fuel management system that sums up litres dispensed at pump and matches with level in tank.

However all of these systems are very expensive. The real bane of fuel in Nigeria is that there is no proper barrier to entry. Any Tom dick or Harry can come in. You build a standard station at 200m.they build a nonsense station at 70m.then you are both selling fuel at same price. Who breaks even first? So as things are today, these will increase your Capex while you are trying to compete. The only downstream company that really pushes standards today is total. Because they are using downstream Capex to move forex out of Nigeria

BlueRayDick:


If GEJ allowed for proliferation of briefcase companies posing as oil marketers which allowed subsidy payment to balloon as u claim in the bold, what did his successor do about it ?

We’ve all agreed Jonathan failed in the art of governance ; reason why he was kicked out of office . What did his successor do about it ? How many of the briefcase companies did he prosecute , how many were delisted and how come for 8 good years they couldn’t put measures in place to determine exactly how much pms we consume daily ?

The good thing about all of these is that Tinubu himself knows what needs to be done before subsidy should be removed and it’s on record he put his thought to paper in 2012 by rightly saying for subsidy to go , then these things should be put in place



The question now is why is nobody telling Tinubu to put his 2012 thoughts to action now that he has the mantle of leadership ? Let’s even say he had no hand in government in the last 8 years , now that he does why is he going for “killing subsidy “ which u refer to as unforced error while u were discussing GEJ up there ?