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Nairaland Forum / Nairaland / General / Politics / Breaking News: Fuel Subsidy Removed (45833 Views)
Fuel Subsidy To Go Next Year. FG To Sell Petrol At 97 / Breaking News!!!!!!! : Fuel To Sell At N57/litre ? / Fuel Subsidy Removed - Full Transcript Of Press Release From The Pppra (2) (3) (4)
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Re: Breaking News: Fuel Subsidy Removed by Beaf: 8:45pm On Jan 01, 2012 |
efisher: The bolded brilliantly encapsulates the progressive argument for the removal of subsidies. |
Re: Breaking News: Fuel Subsidy Removed by k9ine(m): 8:46pm On Jan 01, 2012 |
Hi folks pls I have got a question. So the locally refined fuel will be sold to us at same price with the said "imported" fuel. - N141.00? Don't forget our refineries can provide for our local consumption needs. The more you look, the less you see - Abracadabra |
Re: Breaking News: Fuel Subsidy Removed by jidewin(m): 8:47pm On Jan 01, 2012 |
There really. Was no subsidy in the first place.check this out: 1) One barrel of Crude oil = 42gallons or 159 litres 2) Our Refineries (i.e 4) Installed (combined) capacity = 445,000 barrels per day 3) Actual refineries capacity due to mismanagement = 30% i.e. 133,500 barrels per day. 4) . . 133,500 barrels = 21.2 million litres 5) Local required consumption (F.O.S) = 12millions litres 6) It means that even our MORIBUND refineries can actually meet our local consumption need of petroleum. 7) The cost structure of crude oil (i.e. Qua Iboe Crude Oil) production; - Findings / development - $3.5 - Production cost - $1.5 - Refining Cost - $12.6 - Pipeline/transportation - $1.5 - Distr/bridging fund Margin -$15.69 ![]() Nigeria; - Total sum cost = $34.8 - 1ltr cost = $34.8/159 litres = $0.219 - Naira equiv.:$.219xN160= N35.02k - Add Tax N5 + N35.02 = N40.02 9) Let FGN refute the above composition and if not, they should tell us how they came about N65/litre. 10) Locally refined products cannot be sold at International price. 11) We really do not need FGN SUBSIDY as there was NONE in the first place. 12) What is LACKING, is the WILL to enforce LAW ON CORRUPTION |
Re: Breaking News: Fuel Subsidy Removed by nitrogen(m): 8:48pm On Jan 01, 2012 |
Haaaa! Wahala don dey o, this is not fresh air o,this is gonna be too stuffy for nigerians. |
Re: Breaking News: Fuel Subsidy Removed by flahkhee: 8:50pm On Jan 01, 2012 |
Gej transformation agenda |
Re: Breaking News: Fuel Subsidy Removed by sartorius(m): 8:51pm On Jan 01, 2012 |
Just got @ 65naira. We still ve some good men that are not taking advantage |
Re: Breaking News: Fuel Subsidy Removed by OmoTier1(m): 8:52pm On Jan 01, 2012 |
efisher:Look stop deceiving yourself mate! The simple result of what you described is this: The citizenry get the basic essentials at much cheaper cost so as to enable them have enough cash in their pockets to spend. THAT IS SIMPLY CALLED SUBSIDY! WHETHER YOU DO IT THE CLEVER WAY THE UK OR FRANCE DOES IT, OR THE STUPID WAY NIGERIA GOES ABOUT WITH HERS, ITS CALLED SUBSIDY stupid!! However you choose to look at the Fuel subsidy, it is simply a case of what we call 'Design Default at concept' because those that designed the system simply care more about HOW MUCH they will make out of it, hence the reason several checks and safe gaurds were never built into the whole process! No body is saying subsidy shouldn't go, but the bigger question that deserves answer is this: What do you intend to do with the savings to be made? The government released a document of what they intend to do with the money, lo and behold, it is ridden with projects already appropriated for in 2010, 2011 and in 2012! Who is fooling who? |
Re: Breaking News: Fuel Subsidy Removed by Nobody: 8:52pm On Jan 01, 2012 |
its official, fiiling stations across Lagos are shut down. those of us who had advance warning were the only ones lucky enough to get fuel. prepare for interesting times fresh air 2012!!!! |
Re: Breaking News: Fuel Subsidy Removed by paddylo1(m): 8:52pm On Jan 01, 2012 |
[b]ok lets see. . In the past one yr, the price of crude has gone up,while the local currency the naira has depreciated in value Yet the price of petrol(PMS) has been held artificially steady at N65. Ladies and gentlemen this is no way to run an economy There is no incentive to conserve the use of fuel as prices rise no incentive to develop alternative sources of Energy,like EVs or SOLAR Think for a moment if the US Govt came out after the personal computer was invented in 1980 and decided to intervene (and set prices)cause the cost was to high for the masses, there would be no apple,HP,Microsoft and all other IT innovators today that have brought down the price of a pc to commodity status Again think for a moment,why subsidize fuel?.why not bread,cement, drugs. etc,the whole subsidy game is a slippery slope,that the GOVT best not get involved in. Cheap fuel is a license to non critical reasoning,thats why the Europeans have huge taxes on fuel,so mass transport can bloom,the environment saved,and alternative energy developed. Nigerians say they have Crude in their backyard so PMS should be cheap, but can they refine the crude by themselves without importing machines made elsewhere?, can we build a refinery without outside help?,if the answer in no we cant,then we dont deserve cheap fuel. Let us get innovative for once,build this economy into a knowledge based one,and stop this laziness of the brain and body that we exhibit time after time so yea am for subsidy removal,perhaps it will clear our cities of okada,and instead have us build trains,trams and subways perhaps the next great invention like a car that runs on water or air will come from Nigeria. . who knows. . Happy new yr!![/b] |
Re: Breaking News: Fuel Subsidy Removed by Johnpaul2k2(m): 8:53pm On Jan 01, 2012 |
what next ![]() |
Re: Breaking News: Fuel Subsidy Removed by TheOne2(m): 8:55pm On Jan 01, 2012 |
Everyone should take a deep breathe abeg. Now that it is an issue that touches you guys, you are all hyperventilating here. When we complained about tolling on Lekki road and how it impacts negatively on the people, you all said it was DEVELOPMENT and that those of us complaining are PDP politicians. Can the same be said of this move? Is it development and all you guys complaing ACN- guys? Personally, after that Lekki toll thing, I've resolved that it's not worth fighting for the masses on anything. Politics and tribalism blinds too many people |
Re: Breaking News: Fuel Subsidy Removed by Gbawe: 8:56pm On Jan 01, 2012 |
Beaf: My guy , I will never take you for a joke any more after you stated confidently yesterday that subsidy was gone and that is precisely what happened today. In fact, I will start using IP scrambling software from now on. I don't want you and you fellow paid PDP goons appearing at my door any time soon . Unlike you, I have no affiliation with any politician. I fully back the closure of Oando filling Stations selling at N141.00/L till Government restore subsidy (worth only N240 billion according to Femi Falana) rather than taking the cowardly route of punishing Nigerians for its own inability to fight scammers who are exploiting the system , with the support of your oga's regime, to the tune of over N1 trillion !!!!! Folks should shut Oando down !!!!! Na Gbawe talk am. I will be in Naija in a few weeks and will join anything going down - plus take pictures !!!! Tinubu will probably not mind Oando losing some change if that is what it will take to convince the Government to stop taking Nigerians for a ride. Anyway, I have no time for you. Remember how I told you terrorism would bog down GEJ and you bragged the "almighty" Presidency would overcome? Who is right today 'buddy'? I have made another prediction. Watch and see. Note what is going on worldwide to understand that the only option open to the world is to support the people when they get behind those fighting the "callous" and "wicked" government "living in hideous luxury" yet unable to empathise with those who live in poverty and deprivation. |
Re: Breaking News: Fuel Subsidy Removed by Nobody: 8:56pm On Jan 01, 2012 |
Nigerians are hopeless. |
Re: Breaking News: Fuel Subsidy Removed by Johnpaul2k2(m): 8:57pm On Jan 01, 2012 |
The One: ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Breaking News: Fuel Subsidy Removed by OmoTier1(m): 8:58pm On Jan 01, 2012 |
paddy_lo:Do you ask yourself why MEND was able to set up several local refinaries 'modules' and were busy refining crude in the creeks, yet our FG in the past two years can not get out existing refinaries working? Yes granted even if our local refinaries were all working at 90% capacity, according to the FG, it still would not meet our consumption needs daily, (we know this is all lies anyway) but what stopped them from granting free duty waiver for machinaries to be used for the construction of small modules with local refinaring capacity ![]() |
Re: Breaking News: Fuel Subsidy Removed by DRANOEL(m): 8:59pm On Jan 01, 2012 |
that mudaphuckin bastard/dullard! son of a thousand basted fathers called jonathan. the facker increases the budget for security(read security vote) for his likes and removes subsidy for the masses! what is this years budget on security? if they was no bokoharam will subsidy still be removed? considering the amount budgeted on them! bloody drunken fisherman with his certificate buying wife and that dull good for nothing biatch called dieziani or whatever her cretin name is! the damm supermarkets round mi house have all closed! |
Re: Breaking News: Fuel Subsidy Removed by nsiadi: 8:59pm On Jan 01, 2012 |
Clueless dayo wants bench outside Tot he has balls Only knows how to rain abuses. |
Re: Breaking News: Fuel Subsidy Removed by Beaf: 9:00pm On Jan 01, 2012 |
Omo_Tier1: Stop talking like a malnourished toad. You claimed that the UK subsidises fuel with reduced VAT! GBAGAUN!!!!! ![]() ![]() ![]() ![]() You then further claimed that the UK has no price controls and the UK National Health Service (NHS) subsidises alcohol and cigarrattes! GBAGAUN!!!! ![]() ![]() ![]() ![]() The UK does not subsidise fuel, instead it is taxed; in fact more than half the price of a litre at the pump goes to govt as taxes. No developed country would do something as id!otic as subsidising fuel for consumption, that sort of fuckry only occurs in places like Nigeria where carpenters, hunters and rewires can aqcuire "Toronto" degree's from Oluwole and begin to lord it over genuine people. No industrialised country will subsidise fuel for consumption, that is the same as subsidising indolence. All developed countries subsidise productive sectors of their economies like research, space industries, defence, health, manufacturing etc. A lying baboon like you would not even understand that subsidies are meant to be a strategic economic tool meant to achieve measurable goals and steer the economy in particular directions. Here is a succint defintion: A subsidy (also known as a Render) is an assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributed as subventions in an industry to prevent the decline of that industry (e.g., as a result of continuous unprofitable operations) or an increase in the prices of its products or simply to encourage it to hire more labor (as in the case of a wage subsidy). Examples are subsidies to encourage the sale of exports; subsidies on some foods to keep down the cost of living, especially in urban areas; and subsidies to encourage the expansion of farm production and achieve self-reliance in food production.[1] http://en.wikipedia.org/wiki/Subsidy Please, learn in silence. |
Re: Breaking News: Fuel Subsidy Removed by Nobody: 9:00pm On Jan 01, 2012 |
paddy_lo: abegi - tell that to the govt that cannot enage in belt tightening, much less critical thinking who will build the trains and trams you are on about? the FG of empty promises? the FG that has STILL NOT BEEN ABLE TO KEEP ANY OF THEIR PROMISES ON POWER? what sort of critical thinking will resolve the fact that 90% of the energy i use is from petrol? buy an inverter? where will the power to charge it come from? buy solar cells? so what about the batteries that i will replace every 9 months? the critical thinking you are ging on about is the responsibility of the government who can only think about how to give themselves 1billion naira fesding budget as to conserving the use of fuel, most nigerians already conserve the use of fuel, in any way they can. |
Re: Breaking News: Fuel Subsidy Removed by luluosas(m): 9:01pm On Jan 01, 2012 |
Well! Well!! Well!!! This is Fresh air that just blows transformation into Nigeria. Happy new year all. |
Re: Breaking News: Fuel Subsidy Removed by Remii(m): 9:03pm On Jan 01, 2012 |
Taken at NNPC Ikoyi Mega station
|
Re: Breaking News: Fuel Subsidy Removed by overhyped: 9:03pm On Jan 01, 2012 |
I just heard from a friend that tfare from Enugu to Lagos is now N17,000. kai some people will be stranded in East be that o! ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Breaking News: Fuel Subsidy Removed by 2sleek2NV(m): 9:05pm On Jan 01, 2012 |
its is simple. choose between your generator and your car. |
Re: Breaking News: Fuel Subsidy Removed by Beaf: 9:06pm On Jan 01, 2012 |
Gbawe: Comedy! Abeg, put your money where your mouth is and start burning things down (especially Oando). No need to yarn opata and parade big chest on the internet. |
Re: Breaking News: Fuel Subsidy Removed by Nobody: 9:07pm On Jan 01, 2012 |
overhyped:Thats just the beginning, Food prices will go up drastically soon. |
Re: Breaking News: Fuel Subsidy Removed by ifeci: 9:08pm On Jan 01, 2012 |
Now I wish Abacha was still alive |
Re: Breaking News: Fuel Subsidy Removed by OmoTier1(m): 9:10pm On Jan 01, 2012 |
Beaf:A classed idiot, like your slowpico GEJ, can't comprehend why economies here run with common sense! VAT,Tax Breaks are subsidies tools that you can use more effectively more than you would do your corrupt cash injection module approach your crooked leadership uses. Inglorious numpty, you think leaders here think pocket first when they formulate policy?, Your claimed price control on Alcohol/cigarrettes are no price control in your Nigerians sense and contaxt! They are price control to keep the NHS subsidy within budget and sustainable. I know sycophants like you know how to spin FACTS but sorry not this one! |
Re: Breaking News: Fuel Subsidy Removed by Nobody: 9:10pm On Jan 01, 2012 |
I thought boko haram would drop a bomb today, i didnt know the FG would do the job themselves ![]() ![]() ![]() |
Re: Breaking News: Fuel Subsidy Removed by Beaf: 9:11pm On Jan 01, 2012 |
engineerd: There will be some pain, which is regretable. But it will turn for the better in the near future as the money saved is channelled into productive areas. There is going to be very massive job creation in the millions this year as the FG promised the day before yesterday. |
Re: Breaking News: Fuel Subsidy Removed by wowo2: 9:15pm On Jan 01, 2012 |
did someone just say near future? where has the future been for Nigerians for he past 52 years? |
Re: Breaking News: Fuel Subsidy Removed by Dauchman(m): 9:16pm On Jan 01, 2012 |
I keep hearing government is broke. Which government are we talking of? Nigerian government or Greek government. I was sitting a while ago with my Irish mate, he was reading the economist and he said to me, your country is in the news again. The summary of the story was $8 to $9bn is syphoned from the Nigerian economy annually by corrupt government officials. I have sat and listened to a lot of posts about the fuel subsidy removal. I agree it has it's pros and cons like some people have rightly pointed out. But a fundamental question remains,"how does this affect the economy as a whole?" Almost everything done in the country is tied to fuel, I do not know if the government realizes this. Increase the price of fuel and prices of most goods and services would go up. What has the government of the day put in place to cushion this? For instance we are all aware that all available means of transport in the country depends on fuel, what has the government done to alternate this? We also know most times most homes power their houses with generators that run on fuel, what has the government done to save them not having regular power supply? I have heard some people say that subsidy is not good but i ask what government in the world doesn't apply some sort of subsidy. From figures i have seen and posted in the past, countries who have crude oil as a major resource apply subsidy in the sale of PMS. We all a few months back joined in crucifying Ghaddaffi but apparently the tyrant knew the effects of not subsidizing PMS. Some pro government pundits have said we should trust the government that the pain would be for only a while, the savings from subsidy removal would be used judiciously but i ask how can you trust a government that said it would not remove the subsidy until April but goes ahead to remove it on the first day of the new year? Same government that has spent billions on fixing the power issue in the country but still a lot of Nigerians don't have power supply. A country were security votes makes up the biggest part of the budget and yet BH goes around threatening the lives of the citizenry. To be honest I reckon this might be the last straw. May GEJ not be the one to divide Nigeria!!! One more thing, to all those who keep saying God help us, God would not come down from heaven to sort us out, we have to do it ourselves. History speaks for herself. When people want to move forward, they stand up for themselves. |
Re: Breaking News: Fuel Subsidy Removed by Beaf: 9:18pm On Jan 01, 2012 |
Omo_Tier1: The one redeeming grace of a unicellular brained nematode like you, is that while you find it extremely difficult, you at least learn slowly. Some pages ago, when you learnt the fuel would be price controlled; against all commonsense and informed admonition, you began id!otically arguing that there were no price controls in the UK. Thank God you've seen the light; it is the job of the more exposed ones to help stones and rocks like you. Its a tough task but we must continue to teach, teach, and patiently teach. |
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