God1000:
Clueless government

handie:
All these trillions being used to service petrol subsidy yearly, why not use them to fix the refineries and then totally deregulate the petroleum sector? How long shall government take decisions based on emotions rather than economic logic? Same with University education. Why not allow university autonomy and allow university raise their own revenue and spend it on their schools with only the FG taking supervisory role to discourage corruption? Yeah! High fees and all that will come in but at least with a transparent scholarship scheme..... Maybe say any student who scored 250 or 300 in Jamb qualifies for such scholarship will ensure those who are brilliant but would hitherto be unable to get good quality education qualifies for such. But nah! We'd rather have Endless ASUU strikes and substandard educational system so as to appeal to majority. I'm not an elite nor am I elitist but a serious government needs to take some hard decisions for the benefit of the nation. This petrol subsidy and several others don't help the nation.
That said, I've got some very nice auto deals. I've got a 2011 Mercedes C300 for sale @3.9 Million Naira and several other cars like A 2003 Camry, 2006 Toyota Highlander and several others. For inquiries and negotiation, my WhatsApp number is 08089945511

dmostcheerful:
This woman is a thïef, she might be right but the was she loves expenses, it shows it's the only way she can embezzle funds, example there is no exact calculation to know how much subsidy is paid cause know one really knows the quality of fuel Nigerians use daily.
He case will be worst than Diezani

Mrpojj:

What's about our six refineries?
No body is talking about it

yefeola:

Barrylord4040:
No biafra will rule naija...Even my dog knows this Lollll

Vote Bola Ahmed Tinubu

Moh247:
Only and Intelligent Accountant like Tinubu can navigate the financial tides of Nigeria

Subsidywise20:


There is a subsidy, otherwise, you would have been paying market price for fuel...which is closer to N600 than N200 in reality.

chigoizie7:


Dangote refinery from scratch to finish is worth N9.5 trillion, but the federal government is willing to pay N6 trillion plus in just one year on subsidy. Please who is deceiving who?

EvangDrGeo:
This amount can build two refineries. True or false?

Moh247:


Those crap won't work as long as Politicians are stake holders in Dangote refinery

EvangDrGeo:
This amount can build two refineries. True or false?

989900:
Half of your national budget on subsidy (₦6.5t out of ₦12t) by a man who said subsidy is a scam when our national budget was just ₦4.5 trillion and subsidy was ₦900 billion?!!!

You can't make these stuffs up!

BTW, half would be provided by NNPC by sh!thing it out at the nearest local toilet?!

Subsidywise20:



The thing is, anytime the government, past or present , wants to remove subsidy, the answer Nigerians give them is no.

If I was the president of this country, I would remove subsidy today. The problem is, fuel prices will go up. Eventually, things would improve with increased investment in refineries and the sector that would result....but there would be a period of hardship, and most people don't want that.

That's why anyone supporting subsidy removal is automatically labelled as evil and why Obi said yes and no when asked if he would remove subsidy.

989900:


We got here because we don't have refineries.
Buhari promised refineries (major reason I campaigned for him); 7.5 years later, not 1 refinery -- even the existing ones are dead!

In the 70s and 80s/90s we projected ahead, and built refineries ahead of our expected consumption -- we were making millions of dollars in the early 90s from exporting refined petroleum products!!!

Subsidywise20:


Only way we can make refineries work...is by removing subsidy on fuel

That way, government keeps subsidy money, while the sector makes a profit that includes the amount that would have been spent on subsidy plus more extra profit...meaning that investment in refineries becomes possible and sustainable.(After all since free government money is not coming in once subsidy is gone, refineries have to work or no money comes in)

Subsidy is what led to the refineries breaking down. The petroleum industry was operating at a loss as a result of subsidy which did not cover the losses adequately, and because of the free money pouring in due to subsidy, incentive to keep refineries running was lost...since whether they worked or not, free subsidy money would come in...by 2010, we were at 10% of capacity.


As seen in Venezuela...once had a 900000 BPD refinery....now down to 100000 bpd because they sell fuel at N40 per liter (equivalent) over there. No profit, it does not work.

Everlastingson:




You have started again with language of APC

"The only way to have steady power supply is to remove Jonathan

". Now you say, The only way for refineries to work is to remove subsidy.

Is it subsidy that stops the refineries? Is it not said that NNPC is the sole importer of refined products? The billions you said you pumped into the refineries to resuscitate it where is it? Where is the money you recovered from subsidy removal on AGO and DPK? You shout everyday about subsidy removal but silent on getting the refineries to work. All you care about is for Nigeria to keep importing.

If you claim subsidy is discouraging investors why is Dangote building a refinery?

Subsidywise20:


We don't have refineries because subsidy means that the sector does not earn the large enough profit to pay for working refineries.

Instead we (roughly speaking ) force the sector to sell fuel at a loss (and until 2013, kerosene and diesel)...and pay a subsidy to cover the loss, which leaves it dependent on government money...opening the door for sabotage and corruption..since money will come whether refineries work or not

If subsidy went, the refineries would be reliant on the profit they make, which would make sabotage and corruption very difficult to happen (there are lots of forms of corruption).

But because it means high prices for fuel, and has always meant that, and because people want to buy cheap fuel...here we are.

Or are we going to let Dangote, when his refinery is complete...sell fuel at N165 per liter? When actually refining it costs more than N200.?

Also, Niger Republic has a refinery.and produces crude..and fuel costs over N350 there. Ghana has two refineries...and produces crude. Fuel costs N600 there. Their refineries work...because they make money.