1. Most bad habits don't kill or maim immediately. They take time to build up damage and maim or kill. The number of cars being imported into Nigeria has been increasing since 1999 and the FG has to pay to fuel them. Of course they were bound to run into problems like we are having now. The number of federal government employees have more than tripled since 1999. These things build up and become a problem

2. With the advent of democracy more people have access to power and information about this and other lucrative FG programs. It's not a matter of a very few military officers and their civilian cronies taking advantage of these programs, now you have speakers, governors, ministers and advisers piling in. That's why the cost of this program has been increasing and now threatened to take over the majority of the budget, each year more people are catching on and joining the subsidy party. Remember politicians need friends and money to win elections!

3. Your FG is illegitimate itself, it is hard to prosecute criminals in this contraption called Nigeria. Prevention is better than cure. Don't run programs that are so vulnerable to corruption unless absolutely neccessary and affordable. Who are you going to send? The army or police or senate or HOR that won't be compromised? Lest make the best of this bad marriage and reduce govt. involvement in business. That will at least ensure peace and survival.

youngmonie:

Im still very much confused on this subsidy issue. Fine the  production capacity of Nigerias Refineries cannot meet up with the daily demand in fuel consumption. So therefore companies etc OANDO and the rest are  given licences to import  it. They import at a certian price which was to expensive for Nigerians even as they (importers)  would calculate all theri cost. The government then decides to subsidize  the cost therefore they ( Government bears some of the cost) and Nigerians paid N65. On the list released by  Government which people tagged them as CABAL ( Which I dont see them as, they were simply doing business. I was given a licence tO import fuel and  the government DECIDES TO PAY  subsidy, so what makes me a cabal. The government allowed it dint they?) THE  main issue is the astronomical increase in the number of importers within a certain period of time which was very crazy.  cos i believe there should be  a short to medium term plan in place b4  the completion of refineries.

Jarus:

Oando is a legitimate importer and unless any of you can prove that Oando participate in sharp practices like smuggling to other country, over-invoicing etc, stop counting Oando as cabal.

Fuel importation by a competent company is a legitimate biz, go after the mushroom companies that were quickly set up in the last 3 years and being given licence to import when they are not qualified.

Imagine George Bush in 2001 telling the American people that Al-Qaeda was too powerful and that Americans will have to bear with him as they bomb them to oblivion.

playboy19:

Read this and tell me what you think after reading it,

Please let's enlighten ourselves for a minute. For your information, the above listed companies are just 11% of the beneficiaries of the subsidy. 87% of the oil imported into Nigeria is by NNPC itself (why is NNPC name not on top of the list?) which means 87% of the subsidy paid went back to NNPC (Where NNPC = Gov't = Cabal). The remaining 2 percent are the other independent importers who brought in their product without lobbying for the PSF (Petroleum Support Fund, i.e Subsidy).

Now your question should be, how would the independent importers make profit when they do not benefit from the so called subsidy? The answer is, there is nothing like subsidy in the first place.

As at this morning the landing cost for

PMS (Petrol) = N47/litre

AGO (Diesel) = N82/litre

Jetty fee + Tank farm shouldn't charge more than N2 per litre, so add that up. Meaning the total expenditure to Tank Farm in Lagos is N49 per litre. So if we sell for N65/litre, there will be a N16 profit margin between the importer and the filling station owner. If you are into oil and gas, you will realize that, this is alotta money considering the quantity you are importing, so what the heck is the meaning of subsidy?

Any oil importer can call me out on this one if you think my analysis is wrong and we'll iron it out. Now after the N16 profit between the importer and the filling station, the federal govt now comes out to tell us they paid some "selected people" an extra N75/litre as subsidy, which bring the profit margin to N75+ N16. Does this make any sense?


Subsidy is just a way invented by the government to pay the cabal (Cabal AKA.The Kitchen Cabinet; meaning the Super-Advisers, a position which is called The Consiglierie  in Mafia). This Cabal majorly comprises of powerful Ex office holders,  like the ex presidents, ex senator presidents and the likes and they act as the super advisers to the present president while subtly fine-tuning him to make policies that will suite their own purpose. Not forgetting that they were the ones who endorsed him both at the primary level and at the general election and majority of his campaign funds came from them. ANd now that he is the president as they wanted, it's now a "Fukk you pay us" situation.

Now in my opinion, i believe the country is broke and in a big debt. Jonathan now realizes that he can no longer pay this Cabal AKA The GodFathers directly from the government purse and he's not trying to stand in their way from collecting their entitlement, hence he's putting the burden on the citizen. So now, look at it from the above analysis, if you buy PMS at N140,  you are directly paying the subsidy by yourself to the Cabal and the fortunate ones in this situation is the independent importer. They dont need to even think of lobbying for PSF now, they only need to bring in their product as usual and sell at N140, which automatically gives them the same profit margin as the Cabal. This is why i was telling someone on the other thread that, he must be joking for claiming that Otedola, Adenuga and Dantatas of the world are the one sponsoring NLC and NTU, what would be their gain? Do you think they'll have the time now? I can tell you they're all busy tracking their next Vessels to Naija right now.

There is a lot to say but hey, i don't think i'd make a good lecturer. But let's all seek knowledge and know what exactly we are fighting for and against. It's not about the subsudy removal, it's about fighting the godfatherism trend that has been enslaving us for like god knows when. Let's stand up and fight it out NOW.


And to all the paid "internet stand-up guys" like beaf and co,  you are free to post all your idi.otic comments all you like, it's what you've been paid for, so I wouldn't blame you. Just make sure at least one is sensible.

=======

Hey, for you all to confirm what i was talking about, i just found a 2006-2008 PSF PPPRA report. Please take a look at it and check how many percent of the subsidy goes to NNPC and confirm what i am talking about

http://www.pppra-nigeria.org/briefonadministrationofPSF.pdf



wow !!, Thanks for the proper break down because to me I was wondering whts the point of calling them cabals wen der still gonna make their huge profit margins when the "subsidy" has been removed!! But if 87% of the fuel is imported by NNPC, I guess some1shud be accountable for all those monie they termed subsidy since NNPC is a government owned corporation!

whitehawk:

People, I have a fun day discussing on this forums. That has been a most Productive way of spending the day in the office.

Someone called SWAGGER has a good EXTRACT of the FGN's Budget on this forum. I have provided a link to my comments.

https://www.nairaland.com/nigeria/topic-837675.768.html

While you read it please remember the follwing:

a) President Jonathan REPEALED the Official Secrets ACT. That is why you can now see, review, criticise the budget of ANY GORVERNMENT of NIGERIA. Before he REPEALED it was a CRIME to demand or disclose the details of ANY governments( Federal State or Local) budget.
That was the basis of corruption in Nigeria.
GEJ SHOULD BE COMMENDED by the NBA, the NLC, PAsuma, Pastor Bakare and every Nigerian for that.

b) For your eyes only the National Budget is here: http://www.budgetoffice.gov.ng/2012_budget_proposal.html

c) Accept the Fuel Subsidy removal.

d) Sanusi Lamido Sanusi, the CBN Governor was the first to last year draw attention to the 25% of the National budget that was expended on the National Assembly.
He is a HEROE of the reform. Not the villain.
Guys you are fighting the wron people.

I have several other posts today solely on the Fuel Subsidy Removal.

Of course you have your opinions and I have mine. We may disagree but we should not be enemies.



Till tomorrow.

DrugDoc:

@alj Harem

May your harem continue to increase in Allah's name, Amiiinnnnn!, your questions are:

Why was Obasanjo able to pay off our national debt worth billions of dollars while retaining fuel subsidy?
Why was Obasanjo able to build up our foreign reserves into billions of dollars while subsidy was still on?
Why did Obasanjo still launch some projects, like satellite, while subsidy was on?
Why was subsidy money in the billions while others were in government but went into trillions just few months into Jonathan`s government?
Why were the implicated subsidy beneficiaries(oil cabals) not punished by Jonathan?
Let me stop here. Answer these questions satisfactorily and I will join you in canvassing support fr subsidy removal.


1. Most bad habits don't kill or maim immediately.  They take time to build up damage and maim or kill.  The number of cars being imported into Nigeria has been increasing since 1999 and the FG has to pay to  fuel them. Of course they were bound to run into problems like we are having now. The number of federal government employees have more than tripled since 1999. These things build up and become a problem

2. With the advent of democracy more people have access to power and  information about this and other lucrative FG programs.  It's not a matter of a very few military officers and their civilian cronies taking advantage of these programs, now you have speakers, governors, ministers and advisers piling in.  That's why the cost of this program has been increasing and now threatened to take over the majority of the budget, each year more people are catching on and joining the subsidy party.  Remember politicians need friends and money to win elections!

3.  Your FG is illegitimate itself, it is hard to prosecute criminals in this contraption called Nigeria.  Prevention is better than cure.  Don't run programs that are so vulnerable to corruption unless absolutely neccessary and affordable. Who are you going to send? The army or police or senate or HOR that won't be compromised?  Lest make the best of this bad marriage and reduce govt. involvement in business.  That will at least ensure peace and survival.

youngmonie:

playboy19:

Please let's enlighten ourselves for a minute. For your information, the above listed companies are just 11% of the beneficiaries of the subsidy. 87% of the oil imported into Nigeria is by NNPC itself (why is NNPC name not on top of the list?) which means 87% of the subsidy paid went back to NNPC (Where NNPC = Gov't = Cabal). The remaining 2 percent are the other independent importers who brought in their product without lobbying for the PSF (Petroleum Support Fund, i.e Subsidy).

Now your question should be, how would the independent importers make profit when they do not benefit from the so called subsidy? The answer is, there is nothing like subsidy in the first place.

As at this morning the landing cost for

PMS (Petrol) = N47/litre

AGO (Diesel) = N82/litre

Jetty fee + Tank farm shouldn't charge more than N2 per litre, so add that up. Meaning the total expenditure to Tank Farm in Lagos is N49 per litre. So if we sell for N65/litre, there will be a N16 profit margin between the importer and the filling station owner. If you are into oil and gas, you will realize that, this is alotta money considering the quantity you are importing, so what the heck is the meaning of subsidy?

Any oil importer can call me out on this one if you think my analysis is wrong and we'll iron it out. Now after the N16 profit between the importer and the filling station, the federal govt now comes out to tell us they paid some "selected people" an extra N75/litre as subsidy, which bring the profit margin to N75+ N16. Does this make any sense?


Subsidy is just a way invented by the government to pay the cabal (Cabal AKA.The Kitchen Cabinet; meaning the Super-Advisers, a position which is called The Consiglierie in Mafia). This Cabal majorly comprises of powerful Ex office holders, like the ex presidents, ex senator presidents and the likes and they act as the super advisers to the present president while subtly fine-tuning him to make policies that will suite their own purpose. Not forgetting that they were the ones who endorsed him both at the primary level and at the general election and majority of his campaign funds came from them. ANd now that he is the president as they wanted, it's now a "Fukk you pay us" situation.

Now in my opinion, i believe the country is broke and in a big debt. Jonathan now realizes that he can no longer pay this Cabal AKA The GodFathers directly from the government purse and he's not trying to stand in their way from collecting their entitlement, hence he's putting the burden on the citizen. So now, look at it from the above analysis, if you buy PMS at N140, you are directly paying the subsidy by yourself to the Cabal and the fortunate ones in this situation is the independent importer. They dont need to even think of lobbying for PSF now, they only need to bring in their product as usual and sell at N140, which automatically gives them the same profit margin as the Cabal. This is why i was telling someone on the other thread that, he must be joking for claiming that Otedola, Adenuga and Dantatas of the world are the one sponsoring NLC and NTU, what would be their gain? Do you think they'll have the time now? I can tell you they're all busy tracking their next Vessels to Naija right now.

There is a lot to say but hey, i don't think i'd make a good lecturer. But let's all seek knowledge and know what exactly we are fighting for and against. It's not about the subsudy removal, it's about fighting the godfatherism trend that has been enslaving us for like god knows when. Let's stand up and fight it out NOW.


And to all the paid "internet stand-up guys" like beaf and co, you are free to post all your idi.otic comments all you like, it's what you've been paid for, so I wouldn't blame you. Just make sure at least one is sensible.

=======

Hey, for you all to confirm what i was talking about, i just found a 2006-2008 PSF PPPRA report. Please take a look at it and check how many percent of the subsidy goes to NNPC and confirm what i am talking about

http://www.pppra-nigeria.org/briefonadministrationofPSF.pdf

whitehawk:

People I am in my office not at home. Nothing is happening hence I have the time to post on a forum like this.

This is about FIGHTING CORRUPTION.  

The Budget (Federal, State, Local) is the MASTER DOCUMENT for government's revenu and exependiture.
That is the INSTRUMENT that is used to tackle corruption AT SOURCE not the after-the-act EFFC and the Judiciary where members of the NBA make their money.

Lawyers make money from Conflicts, they represent ALL the SIDES to the Conflict for a fee !

If you are protesting because you agree with the NLC that PMS (petrol) costs N40 a litre to produce please remember that one litre of bottled water sells fro N80 a litre, beer sells for N150 to N200 a litre.

If your are outraged about the profligacy and execesses of the members of the national assembly who pay themselves about N150,000 for as tea allowance and unmentionable sums for foreign trips for Shopping, then you SHOULD BE SUPPORTING SANUSI LAMIDO AND OKONJO IWEALLA. !!!


Remember that last year Sanusi Lamido, the CBN Governor raised the alarm that 25 % of the National budget is appropriated by the National Senate and the House of Representatives. The NLC and the NBA did not support and neither DID YOU.

These CBN Governor and the Minister of Finance are fighting CORRUPTION.

People you should be supporing them.

GEJ has REPEALED the Official Secrets Act that the military and past governments had been hiding under to STEAL our money.


GEJ has started very well. He REPEALED THE OFFICIAL SECRETS ACT in 2010. That little known decree was the basis of Nigeria's corruption.

Since time lost until year, under the Official Secrets Act, it ILLEGAL punishable by IMPRISONMENT for anyone to ask for or to Disclose the DETAILS of ANY GOVERNMENT BUDGET !!!!.  

YES !!

By repealing the relevant parts of the Official Secrets Act, you and I can now ask for the full details of all government budgets ( Federal, State and Local). We should COMMEND GEJ !!!.

But under military rule every 1st of January, the National Budget was read to the solemn national anthem. The leaders the proceeded to spend the money as they wished.

Recall also that in 1999 that it was AFTER OBJ was sworn in as President that Gen. Abubakar gave OBJ the 1999 Constitution. Since then we have been operating a democracy with a MILITARY mindset. Every "leader" is a "commmander". Speaker Bankole locked out the ELECTED members ofHouse of Rep memebers who accus him of corruption and demanded an apology before he would PERMIT them to return.

Because of the  immunity and  impunity, Corruption became endemic.

With our access to the details of government budgets, we can see the bloat in goverment expenditure.

The Government should be RESPONSIBLE for housing or  feeding ministers, government executives or legislatures.

The NLC, the NBA and the House of Representatives are NOT ANGELS at all.

When Sanusi Lamido revealed that 25% of the National Budget was spent on the National Assembly no one supported him. Not the clergy, the NBA or the NLC. Shortly thereafter the former Speaker of the House of Reps was arrested for borrowing  from the banks and spending 40 BILLION NAIRA in additon to what was budgeted for. Sanusi fought a lone fight. He was disparaged by the House of Reps. The NBA, the NLC, Pastor Bakare and Mallam Rufai did not come to fight corruption.

The fuel subsidy has to be removed because it is the sure way to stop the Corruption in that business. The fight against Corruption must BE INSITUTIONAL AND PROCESS BASED.  The EFCC and the Judiaciary have not been effective becasue that approach is based on the PERSONALITY of the EFCC Chairman of a particular judge.

Please read Sanusi Lamido's details of how the Fuel Subsidy FRAUD is perpetrated by excutives of the petrol industry, Nigerian Customs, oil industry regulators etc. This will give an idea of the vast scope and depth of the FRAUD.