noiseless:

Have you finished?  I'm sure that you agree that some people where denied education cos awolawo subsidised education for his people only, and he said that coacoa was a cash crop that was found in yorubaland,so only the yorubas can benefit from it,as he believed nigeria was just a geografical expression while other leaders allowed their ressuces to be used to run nigeria.And yet despite all the free education the yorubas enjoyed all you can show for it is fake digrees and this braging of yours that you are educated than everyone and play 419 on them,that is what you know and do best, GET A LIFE PLS.

My Brother, Your Preposition Deserves Some Respect for your quest for knowledge. The regional government then have greater level of resource control, unlike what we have now - i hope you know what that means or just ask your parents if you are too young to know, except if they are canoe makers.

Fellow Citizens,

Lets neglect comments of our beloved brothers and sisters from the east and south south- Their comments is a type of corruption in itself called nepotism - i.e. giving unmerited favour to your kinsman at ALL COST when he least deserves it. OBJ did not win election even in his ward in south west in 1999 but we delivered the west to Jonathan in 2011. We are civilized people without sentiment. We protested against some people called cabals to make sure Jonathan was confirmed acting president. No sentiment

Where was SS/SE when we protested against the CABALs who failed to make Jonathan the substantive acting president when Yar adua was sick? Did they join in the protest? No. Where were they when we protested against Abacha and IBB? Where were they when we protested against OBJ on fuel subsidy led by Oshiomole? Where were they when we protested against the annulment of June 12 election. Where were they when The Ganis, Kutis, Falanas, alfreds, faseuns, Adesanyas e.tc were laying their lives to make Our President beneficiary of the struggles he knows little about. The history of civil protest in Nigeria has also been without them because they are educationally disadvantage, they cannot protest for or against what they don't even understand.

Jonathan came to Lagos and danced before us like a beggar pleading for our votes, he danced to the same music we played at Gani-Fawehinmi park we trusted him and voted him, even OBJ did not get that kind of support. Now we did the same thing and people who now claim to be his brother are angry, Jona himself is angry. Why are you angry? What kind of people would call a fellow man Monkey? We understand the average psyche of anyone from the east, you got admitted to our universities with 5 ordinary passes because we recognised you are educational disadvantage and we don't expect much sense from you.

If you can relate well with ur environment, you would agree that the protest was avoidable, if Our President (Not Ijaw or Ibo President) respect the constitution he swore to uphold. The National Assemble - Who were the representative of the people convened on an usual day -Sunday- and spoke with one voice that he should revert back to 65 Naira. But he declined. When the President violate the principle of democracy and disrespect the peoples reepresentatives he gets what he deserves-Peaceful protest.Respect is reciprocal.

Should a man who lives on the bank of the river wash his hand with spittle? - An Ibo Proverb
Should a man bite the finger that fed him? An Ibo Proverbs
Is it not greed that makes an hunter who killed an elephant to still want to hunt for rats on his way home?

While I agree that it is never right to Kill another man for any reason like the Boko-Haram sect, It is the act of oppression through military force like the ones deployed to forestall peaceful protest in Gani Fawehinmi Park that might have been responsible for the creation of such sect. Your sect in south south (Kidnappers) and SE (otokoto) was the result of similar neglect. Yar-Adua was responsible enough to listen to you, bring you out of the creeks and send you to school so that you behave like responsible people. Because he listened he even appointed - Jonathan as his running mate. Let Our President - Not Ijaw or SS or SE President listen to us and we would have a better Nigeria.

Fellow Citizens,

Lets neglect comments of our beloved brothers and sisters from the east and south south- Their comments is a type of corruption in itself called nepotism - i.e. giving unmerited favour to your kinsman at ALL COST when he least deserves it. OBJ did not win election even in his ward in south west in 1999 but we delivered the west to Jonathan in 2011. We are civilized people without sentiment. We protested against some people called cabals to make sure Jonathan was confirmed acting president. No sentiment

Where was SS/SE when we protested against the CABALs who failed to make Jonathan the substantive acting president when Yar adua was sick? Did they join in the protest? No. Where were they when we protested against Abacha and IBB? Where were they when we protested against OBJ on fuel subsidy led by Oshiomole? Where were they when we protested against the annulment of June 12 election. Where were they when The Ganis, Kutis, Falanas, alfreds, faseuns, Adesanyas e.tc were laying their lives to make Our President beneficiary of the struggles he knows little about. The history of civil protest in Nigeria has also been without them because they are educationally disadvantage, they cannot protest for or against what they don't even understand.

Jonathan came to Lagos and danced before us like a beggar pleading for our votes, he danced to the same music we played at Gani-Fawehinmi park we trusted him and voted him, even OBJ did not get that kind of support. Now we did the same thing and people who now claim to be his brother are angry, Jona himself is angry. Why are you angry? What kind of people would call a fellow man Monkey? We understand the average psyche of anyone from the east, you got admitted to our universities with 5 ordinary passes because we recognised you are educational disadvantage and we don't expect much sense from you.

If you can relate well with ur environment, you would agree that the protest was avoidable, if Our President (Not Ijaw or Ibo President) respect the constitution he swore to uphold. The National Assemble - Who were the representative of the people convened on an usual day -Sunday- and spoke with one voice that he should revert back to 65 Naira. But he declined. When the President violate the principle of democracy and disrespect the peoples reepresentatives he gets what he deserves-Peaceful protest.Respect is reciprocal.

Should a man who lives on the bank of the river wash his hand with spittle? - An Ibo Proverb
Should a man bite the finger that fed him? An Ibo Proverbs
Is it not greed that makes an hunter who killed an elephant to still want to hunt for rats on his way home?

While I agree that it is never right to Kill another man for any reason like the Boko-Haram sect, It is the act of oppression through military force like the ones deployed to forestall peaceful protest in Gani Fawehinmi Park that might have been responsible for the creation of such sect. Your sect in south south (Kidnappers) and SE (otokoto) was the result of similar neglect. Yar-Adua was responsible enough to listen to you, bring you out of the creeks and send you to school so that you behave like responsible people. Because he listened he even appointed - Jonathan as his running mate. Let Our President - Not Ijaw or SS or SE President listen to us and we would have a better Nigeria.

Fellow Citizens,

Lets neglect comments of our beloved brothers and sisters from the east and south south- Their comments is a type of corruption in itself called nepotism - i.e. giving unmerited favour to your kinsman at ALL COST when he least deserves it. OBJ did not win election even in his ward in south west in 1999 but we delivered the west to Jonathan in 2011. We are civilized people without sentiment. We protested against some people called cabals to make sure Jonathan was confirmed acting president. No sentiment

Where was SS/SE when we protested against the CABALs who failed to make Jonathan the substantive acting president when Yar adua was sick? Did they join in the protest? No. Where were they when we protested against Abacha and IBB? Where were they when we protested against OBJ on fuel subsidy led by Oshiomole? Where were they when we protested against the annulment of June 12 election. Where were they when The Ganis, Kutis, Falanas, alfreds, faseuns, Adesanyas e.tc were laying their lives to make Our President beneficiary of the struggles he knows little about. The history of civil protest in Nigeria has also been without them because they are educationally disadvantage, they cannot protest for or against what they don't even understand.

Jonathan came to Lagos and danced before us like a beggar pleading for our votes, he danced to the same music we played at Gani-Fawehinmi park we trusted him and voted him, even OBJ did not get that kind of support. Now we did the same thing and people who now claim to be his brother are angry, Jona himself is angry. Why are you angry? What kind of people would call a fellow man Monkey? We understand the average psyche of anyone from the east, you got admitted to our universities with 5 ordinary passes because we recognised you are educational disadvantage and we don't expect much sense from you.

If you can relate well with ur environment, you would agree that the protest was avoidable, if Our President (Not Ijaw or Ibo President) respect the constitution he swore to uphold. The National Assemble - Who were the representative of the people convened on an usual day -Sunday- and spoke with one voice that he should revert back to 65 Naira. But he declined. When the President violate the principle of democracy and disrespect the peoples reepresentatives he gets what he deserves-Peaceful protest.Respect is reciprocal.

Should a man who lives on the bank of the river wash his hand with spittle? - An Ibo Proverb
Should a man bite the finger that fed him? An Ibo Proverbs
Is it not greed that makes an hunter who killed an elephant to still want to hunt for rats on his way home?

While I agree that it is never right to Kill another man for any reason like the Boko-Haram sect, It is the act of oppression through military force like the ones deployed to forestall peaceful protest in Gani Fawehinmi Park that might have been responsible for the creation of such sect. Your sect in south south (Kidnappers) and SE (otokoto) was the result of similar neglect. Yar-Adua was responsible enough to listen to you, bring you out of the creeks and send you to school so that you behave like responsible people. Because he listened he even appointed - Jonathan as his running mate. Let Our President - Not Ijaw or SS or SE President listen to us and we would have a better Nigeria.

Fellow Citizens,

Lets neglect comments of our beloved brothers and sisters from the east and south south- Their comments is a type of corruption in itself called nepotism - i.e. giving unmerited favour to your kinsman at ALL COST when he least deserves it. OBJ did not win election even in his ward in south west in 1999 but we delivered the west to Jonathan in 2011. We are civilized people without sentiment. We protested against some people called cabals to make sure Jonathan was confirmed acting president. No sentiment

Where was SS/SE when we protested against the CABALs who failed to make Jonathan the substantive acting president when Yar adua was sick? Did they join in the protest? No. Where were they when we protested against Abacha and IBB? Where were they when we protested against OBJ on fuel subsidy led by Oshiomole? Where were they when we protested against the annulment of June 12 election. Where were they when The Ganis, Kutis, Falanas, alfreds, faseuns, Adesanyas e.tc were laying their lives to make Our President beneficiary of the struggles he knows little about. The history of civil protest in Nigeria has also been without them because they are educationally disadvantage, they cannot protest for or against what they don't even understand.

Jonathan came to Lagos and danced before us like a beggar pleading for our votes, he danced to the same music we played at Gani-Fawehinmi park we trusted him and voted him, even OBJ did not get that kind of support. Now we did the same thing and people who now claim to be his brother are angry, Jona himself is angry. Why are you angry? What kind of people would call a fellow man Monkey? We understand the average psyche of anyone from the east, you got admitted to our universities with 5 ordinary passes because we recognised you are educational disadvantage and we don't expect much sense from you.

If you can relate well with ur environment, you would agree that the protest was avoidable, if Our President (Not Ijaw or Ibo President) respect the constitution he swore to uphold. The National Assemble - Who were the representative of the people convened on an usual day -Sunday- and spoke with one voice that he should revert back to 65 Naira. But he declined. When the President violate the principle of democracy and disrespect the peoples reepresentatives he gets what he deserves-Peaceful protest.Respect is reciprocal.

Should a man who lives on the bank of the river wash his hand with spittle? - An Ibo Proverb
Should a man bite the finger that fed him? An Ibo Proverbs
Is it not greed that makes an hunter who killed an elephant to still want to hunt for rats on his way home?

While I agree that it is never right to Kill another man for any reason like the Boko-Haram sect, It is the act of oppression through military force like the ones deployed to forestall peaceful protest in Gani Fawehinmi Park that might have been responsible for the creation of such sect. Your sect in south south (Kidnappers) and SE (otokoto) was the result of similar neglect. Yar-Adua was responsible enough to listen to you, bring you out of the creeks and send you to school so that you behave like responsible people. Because he listened he even appointed - Jonathan as his running mate. Let Our President - Not Ijaw or SS or SE President listen to us and we would have a better Nigeria.

Maybe They should explain to us why its difficult to learn from better countries like Venezuela where fuel is sold for less than N5 per litre, an oil producing nation like Nigeria whose citizens love their President despite he being despised and hated by the western world. Okonjo Iweala should put the interest of the citizens ahead of world bank please.

THERE are similarities between Venezuela and Nigeria. Both are sovereign, oil producing nations, and members of the Organisation of Oil Producing Countries (OPEC).
But that is where the similarities end. While Venezuelans are enjoying all the benefits of an oil producing country, same could not be said of Nigerians.
When Enerique Fernando Arrundell, the Venezuela Ambassador to Nigeria, paid about N12, 000 to refuel his car over two years ago, he expressed shock to Mrs. Dora Akunyili, the then Minister of Information and Communication
He said: “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12, 000 here (Nigeria); in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners. You have to have your own country. The oil is yours. Sorry I am telling you this. I am giving you the experience of Venezuela. We have 12 refineries in the United States, 18,000 gas stations in the West Coast. All we are doing is in the hands of the Venezuelans. Before 1999, we had three or four foreign companies working with us. That time they were taking 80 per cent, and giving us 20. Now, we have 90 per cent, and giving them 10 per cent. But now, we have 22 countries working with us in that condition.
“It is the Venezuelan condition. You know why? It is because 60 per cent of the income goes to social programmes. That’s why we have 22,000 medical doctors assisting the people in the community. The people don’t go to the hospital; doctors go to their houses. This is because the money is handled by the Venezuelans. How come Nigeria that has more technical manpower than Venezuela, with 150 million people, and very intellectual people all around, not been able to get it right?
“The question is, if you are not handling your resources, how are you going to handle the country? So, it is important that Nigeria takes control of its resources. We have no illiterate people. We have over 17 new universities totally free. I graduated from the university without paying one cent and take three meals every day, because we have the resources. We want the resources of the Nigerian people for the Nigerians. ”

Please who can confirm this? Could this be true? I read the post from a link on the website.

It is very sad to note that our unproductive lawmakers earn more than the leaders of the developed economies. The figures below is definitely a smack on the sensibilities of Nigerians. The yearly salaries the leaders of the developed countries are:

1. President Barack Obama (USA)- $400,000.00
2. Prime Minister Davaid Cameron (UK) - $222,000.00
3. President Nicolas Sarkozy (France) - $302,000.00
4. Chancellor Angela Merkel (Germany) - $296,000.00
5. President Hu Jintao (China)- $11,000.00

Contrast the above with the yearly salaries of Nigerian Federal Lawmakers
1. Senator (Nigeria) - $1,100,000.00 (x 109)
2. Member, House of Representative (Nigeria) - $834,402.00 (x 360)

What are these lawmakers contributing to the growth and development of the Nigerian economy to deserve such hefty salaries? Just this week, there was massive pay cut (up to 52%) for politicians in Singapore. On which planet is Nigeria, an underdeveloped country, to afford such blatant waste of our very limited resources. Enough is Enough of this LOOTING OF OUR TREASURY.

Please who can confirm this? Could this be true? I read the post from a link on the website.

It is very sad to note that our unproductive lawmakers earn more than the leaders of the developed economies. The figures below is definitely a smack on the sensibilities of Nigerians. The yearly salaries the leaders of the developed countries are:

1. President Barack Obama (USA)- $400,000.00
2. Prime Minister Davaid Cameron (UK) - $222,000.00
3. President Nicolas Sarkozy (France) - $302,000.00
4. Chancellor Angela Merkel (Germany) - $296,000.00
5. President Hu Jintao (China)- $11,000.00

Contrast the above with the yearly salaries of Nigerian Federal Lawmakers
1. Senator (Nigeria) - $1,100,000.00 (x 109)
2. Member, House of Representative (Nigeria) - $834,402.00 (x 360)

What are these lawmakers contributing to the growth and development of the Nigerian economy to deserve such hefty salaries? Just this week, there was massive pay cut (up to 52%) for politicians in Singapore. On which planet is Nigeria, an underdeveloped country, to afford such blatant waste of our very limited resources. Enough is Enough of this LOOTING OF OUR TREASURY.

Please who can confirm this? Could this be true? I read the post from a link on the website.

It is very sad to note that our unproductive lawmakers earn more than the leaders of the developed economies. The figures below is definitely a smack on the sensibilities of Nigerians. The yearly salaries the leaders of the developed countries are:

1. President Barack Obama (USA)- $400,000.00
2. Prime Minister Davaid Cameron (UK) - $222,000.00
3. President Nicolas Sarkozy (France) - $302,000.00
4. Chancellor Angela Merkel (Germany) - $296,000.00
5. President Hu Jintao (China)- $11,000.00

Contrast the above with the yearly salaries of Nigerian Federal Lawmakers
1. Senator (Nigeria) - $1,100,000.00 (x 109)
2. Member, House of Representative (Nigeria) - $834,402.00 (x 360)

What are these lawmakers contributing to the growth and development of the Nigerian economy to deserve such hefty salaries? Just this week, there was massive pay cut (up to 52%) for politicians in Singapore. On which planet is Nigeria, an underdeveloped country, to afford such blatant waste of our very limited resources. Enough is Enough of this LOOTING OF OUR TREASURY.

Please who can confirm this? Could this be true? I read the post from a link on the website.

It is very sad to note that our unproductive lawmakers earn more than the leaders of the developed economies. The figures below is definitely a smack on the sensibilities of Nigerians. The yearly salaries the leaders of the developed countries are:

1. President Barack Obama (USA)- $400,000.00
2. Prime Minister Davaid Cameron (UK) - $222,000.00
3. President Nicolas Sarkozy (France) - $302,000.00
4. Chancellor Angela Merkel (Germany) - $296,000.00
5. President Hu Jintao (China)- $11,000.00

Contrast the above with the yearly salaries of Nigerian Federal Lawmakers
1. Senator (Nigeria) - $1,100,000.00 (x 109)
2. Member, House of Representative (Nigeria) - $834,402.00 (x 360)

What are these lawmakers contributing to the growth and development of the Nigerian economy to deserve such hefty salaries? Just this week, there was massive pay cut (up to 52%) for politicians in Singapore. On which planet is Nigeria, an underdeveloped country, to afford such blatant waste of our very limited resources. Enough is Enough of this LOOTING OF OUR TREASURY.

Please read this: “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12,000 here (Nigeria), in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners.-ENERIQUE FERNANDO ARRUNDELL, the Venezuelan Ambassador to Nigeria

Maybe They should explain to us why its difficult to learn from better countries like Venezuela where fuel is sold for less than N5 per litre, an oil producing nation like Nigeria whose citizens love their President despite he being despised and hated by the western world. Okonjo Iweala should put the interest of the citizens ahead of world bank please.

THERE are similarities between Venezuela and Nigeria. Both are sovereign, oil producing nations, and members of the Organisation of Oil Producing Countries (OPEC).
But that is where the similarities end. While Venezuelans are enjoying all the benefits of an oil producing country, same could not be said of Nigerians.
When Enerique Fernando Arrundell, the Venezuela Ambassador to Nigeria, paid about N12, 000 to refuel his car over two years ago, he expressed shock to Mrs. Dora Akunyili, the then Minister of Information and Communication
He said: “In Venezuela, since 1999, we’ve never had a raise in fuel price. We only pay $1.02 to fill the tank. What I pay for with N12, 000 here (Nigeria); in Venezuela I’ll pay N400. What is happening is simple. Our President (Hugo Chavez) decided one day to control the industry, because it belongs to the Venezuelans. If you don’t control the industry, your development will be in the hands of the foreigners. You have to have your own country. The oil is yours. Sorry I am telling you this. I am giving you the experience of Venezuela. We have 12 refineries in the United States, 18,000 gas stations in the West Coast. All we are doing is in the hands of the Venezuelans. Before 1999, we had three or four foreign companies working with us. That time they were taking 80 per cent, and giving us 20. Now, we have 90 per cent, and giving them 10 per cent. But now, we have 22 countries working with us in that condition.
“It is the Venezuelan condition. You know why? It is because 60 per cent of the income goes to social programmes. That’s why we have 22,000 medical doctors assisting the people in the community. The people don’t go to the hospital; doctors go to their houses. This is because the money is handled by the Venezuelans. How come Nigeria that has more technical manpower than Venezuela, with 150 million people, and very intellectual people all around, not been able to get it right?
“The question is, if you are not handling your resources, how are you going to handle the country? So, it is important that Nigeria takes control of its resources. We have no illiterate people. We have over 17 new universities totally free. I graduated from the university without paying one cent and take three meals every day, because we have the resources. We want the resources of the Nigerian people for the Nigerians. ”

Well its not Mr. Presidents fault. It just further proofs that our standard of education is destroyed. It is expected that Okonjo Iweala Ngozi (The daughter of a Professor, a royal princess and graduate of Harvard University & MIT) would be smarter than Mr. President (The Son of canoe maker, a graduate of a dilapidated Nigerian university who went to school without shoes and listened to lectures sitting on window). Who do you expect to be smarter? She is of course doing her masters bidding (world bank) who are more interested in Nigeria paying it debt not minding whether we are dead or alive . When Ngozi Okonjo Iweala, the Finance minister and the coordinating minister for the economy (a position not provided in our constitution) presented ‘briefs’ to the Federal Executive Council on why the Jonathan administration must end the subsidy in less than a month.
When Nigerians go through these so called facts, they will find that Okonjo’s conclusions are the typical, ‘working to the answer’. Her thesis cannot stand the test of a strict scrutiny and indeed calls into question her credentials as a financial expert.
For starters:
1. Okonjo’s thesis was wrong from the beginning: she says that subsidy does not reach the poor, that only the rich and the middle class are the beneficiaries. The hollowness and shallowness of the position have been profoundly proven by the cries of agony by Nigerians. Who have been the most hit by the anti-people measure? The poor. Who have been crying loudest? The poor.
Even, if we accept her theory that the rich and middle class are the greatest beneficiaries of oil subsidy, are they not Nigerians? Are they not entitled to some goodies from their government?
2. Okonjo posited that Nigeria had spent N3.6 trillion on subsidy in five years, an average of N660 billion yearly, but fails to explain how the figure rose to N1.3 trillion in 2011, the same year like 2008 when international oil prices shot to the roof.
Using Okonjo’s statistics, the average crude oil price in 2008 was $101.78 dollars, compared with $113.98 in 2011. The amount of subsidy in those years was at variance by more than 10 per cent that any reasonable, rational, logical person will expect. What accounted for this difference? Was subsidy fund stolen to fund Jonathan’s re-election campaign? Was the increase in subsidy expenses because the oil cabal presented bogus claims for settlement?
Mrs. Okonjo Iweala did not explain and no one provided any details.
3. Okonjo’s analysis to paint subsidy as bad and to justify why it must go, were based on two oil prices and it was obvious she did so to arrive at her bogus conclusion.
In one breath, she used $113 dollars as the base price of crude oil to determine how Nigeria’s subsidized oil price ranks with other African countries. At 46 cents, petrol is cheapest in Nigeria, compared with mainly non-oil producing countries, such as Cape Verde, CAR, Malawi, Ivory Coast, Egypt, Equatorial Guinea, and Mali etc. Angola, an oil producer is also classified as selling its petrol higher than Nigeria at 69 cents a litre. If only Mrs. Okonjo had looked at her figures and graph, she would have seen two other oil producers in Africa, seating pretty below Nigeria on this price graph. These countries are Algeria, which unlike Nigeria sells more refined products than Nigeria, which sells its crude to the world, without trying to add value, by refining and creating jobs at home. The other country is Libya. Algeria sells a litre of petrol at 32 cents and Libya sells its own at 17 cents. They are fellow oil producers like our country. According to Okonjo, these countries offer cheap fuel to their people because they are not as populated like Nigeria and because they have higher per capita than Nigeria.
However missing from her explanation was whether those countries behave like Nigeria’s irresponsible rulers, spending three-quarters of their budget on recurrent expenditure, cutlery, bullet proof cars and so on.
4. In another breath, Mrs. Okonjo compared Nigeria’s oil price last year, with a mixed bag of European, Latin America and African nations, all oil producers. These statistics showed that Nigeria’s price at N65 was not the cheapest in the world. Although petrol sold cheaper here then than Angola and Sudan, in Venezuela, it is almost free at 3 cents. Brunei, Yemen, Oman, Algeria, Kuwait, Bahrain, Qatar, Saudi Arabia, Iran all offer their petrol very cheap to their people. In Iran, it is 10 cents, compared with Nigeria’s January 2012 price of almost $1. The Saudis sell their oil at 17 cents, Kuwait at 22 cents.
5. With subsidy removed, we can already feel the effects the increase has had on the Nigerian people: it has further pauperized them and has made things more difficult for the 90 per cent living on less than $2 a day, according to Sanusi Lamido Sanusi, the Central bank governor.
6. In further analysis, Okonjo presented another graph that shows Nigeria’s position, among other oil producers and African nations after the subsidy removal. The graph puts the cost of fuel at 69 cents, using another oil price as basis—$90 per barrel. Of course all Nigerians know that the fuel they are selling at gas stations is between N141 and N150, which is very close to $1. Curiously, on the same graph sits USA. There, a litre of oil is 80 cents, cheaper than what the Russians (84 cents), the Indonesians (83 cents), war-torn Iraq (81 cents) pay for a litre of fuel.
7. Nigerians need to ask Okonjo the logic that supports citizens of an oil-producing nation, like Nigeria, paying more money for fuel than the Americans, oil importers, pay. America has a greater per capita than Nigeria; the least income earner in America earns at least $24,000 a year, compared with Nigeria where 90 per cent live on $2 a day.
Will this policy not diminish further our people’s capacity to get out of the vicious bracket of poverty? How now will 90 per cent of Nigerians starving on $2 a day, not be economically asphyxiated when commodity prices have jumped, in some cases by 100 per cent?
In my view, her argument and the entire policy of removing the fuel subsidy are ill thought out and ‘callous’ as some Nigerians have said.

This economic puzzle is simple enough for anyone to solve.

* Fuel subsidy itself is a scam
* Removal of self subsidy is a scam
* Turn around maintenance of refineries is a scam
* Non development of new refineries is a scam
* Insincerity of government is a scam

Fuel Subsidy Equation
------------------------
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 ageing equipment = 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 MORIBOND 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

True cost of one litre of petroleum anywhere in Nigeria ;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 litres = $0.219
- Naira equiv. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition.

Chuba1 whoever you are its apparent you are one of them. Well its not Mr. Presidents fault. It just a further proofs that our standard of education is destroyed. It is expected that Okonjo Iweala Ngozi (The daughter of a Professor, a royal princess and graduate of Harvard University & MIT) would be smarter than Mr. President (The Son of canoe maker, a graduate of a dilapidated Nigerian university who went to school without shoes and listened to lectures sitting on window). Who do you expect to be smarter? She is of course doing her masters bidding (world bank) who are more interested in Nigeria paying it debt not minding whether we are dead or alive .

When Ngozi Okonjo Iweala, the Finance minister and the coordinating minister for the economy (a position not provided in our constitution) presented ‘briefs’ to the Federal Executive Council on why the Jonathan administration must end the subsidy in less than a month.
When Nigerians go through these so called facts, they will find that Okonjo’s conclusions are the typical, ‘working to the answer’. Her thesis cannot stand the test of a strict scrutiny and indeed calls into question her credentials as a financial expert.
For starters:
1. Okonjo’s thesis was wrong from the beginning: she says that subsidy does not reach the poor, that only the rich and the middle class are the beneficiaries. The hollowness and shallowness of the position have been profoundly proven by the cries of agony by Nigerians. Who have been the most hit by the anti-people measure? The poor. Who have been crying loudest? The poor.
Even, if we accept her theory that the rich and middle class are the greatest beneficiaries of oil subsidy, are they not Nigerians? Are they not entitled to some goodies from their government?
2. Okonjo posited that Nigeria had spent N3.6 trillion on subsidy in five years, an average of N660 billion yearly, but fails to explain how the figure rose to N1.3 trillion in 2011, the same year like 2008 when international oil prices shot to the roof.
Using Okonjo’s statistics, the average crude oil price in 2008 was $101.78 dollars, compared with $113.98 in 2011. The amount of subsidy in those years was at variance by more than 10 per cent that any reasonable, rational, logical person will expect. What accounted for this difference? Was subsidy fund stolen to fund Jonathan’s re-election campaign? Was the increase in subsidy expenses because the oil cabal presented bogus claims for settlement?
Mrs. Okonjo Iweala did not explain and no one provided any details.
3. Okonjo’s analysis to paint subsidy as bad and to justify why it must go, were based on two oil prices and it was obvious she did so to arrive at her bogus conclusion.
In one breath, she used $113 dollars as the base price of crude oil to determine how Nigeria’s subsidized oil price ranks with other African countries. At 46 cents, petrol is cheapest in Nigeria, compared with mainly non-oil producing countries, such as Cape Verde, CAR, Malawi, Ivory Coast, Egypt, Equatorial Guinea, and Mali etc. Angola, an oil producer is also classified as selling its petrol higher than Nigeria at 69 cents a litre. If only Mrs. Okonjo had looked at her figures and graph, she would have seen two other oil producers in Africa, seating pretty below Nigeria on this price graph. These countries are Algeria, which unlike Nigeria sells more refined products than Nigeria, which sells its crude to the world, without trying to add value, by refining and creating jobs at home. The other country is Libya. Algeria sells a litre of petrol at 32 cents and Libya sells its own at 17 cents. They are fellow oil producers like our country. According to Okonjo, these countries offer cheap fuel to their people because they are not as populated like Nigeria and because they have higher per capita than Nigeria.
However missing from her explanation was whether those countries behave like Nigeria’s irresponsible rulers, spending three-quarters of their budget on recurrent expenditure, cutlery, bullet proof cars and so on.
4. In another breath, Mrs. Okonjo compared Nigeria’s oil price last year, with a mixed bag of European, Latin America and African nations, all oil producers. These statistics showed that Nigeria’s price at N65 was not the cheapest in the world. Although petrol sold cheaper here then than Angola and Sudan, in Venezuela, it is almost free at 3 cents. Brunei, Yemen, Oman, Algeria, Kuwait, Bahrain, Qatar, Saudi Arabia, Iran all offer their petrol very cheap to their people. In Iran, it is 10 cents, compared with Nigeria’s January 2012 price of almost $1. The Saudis sell their oil at 17 cents, Kuwait at 22 cents.
5. With subsidy removed, we can already feel the effects the increase has had on the Nigerian people: it has further pauperized them and has made things more difficult for the 90 per cent living on less than $2 a day, according to Sanusi Lamido Sanusi, the Central bank governor.
6. In further analysis, Okonjo presented another graph that shows Nigeria’s position, among other oil producers and African nations after the subsidy removal. The graph puts the cost of fuel at 69 cents, using another oil price as basis—$90 per barrel. Of course all Nigerians know that the fuel they are selling at gas stations is between N141 and N150, which is very close to $1. Curiously, on the same graph sits USA. There, a litre of oil is 80 cents, cheaper than what the Russians (84 cents), the Indonesians (83 cents), war-torn Iraq (81 cents) pay for a litre of fuel.
7. Nigerians need to ask Okonjo the logic that supports citizens of an oil-producing nation, like Nigeria, paying more money for fuel than the Americans, oil importers, pay. America has a greater per capita than Nigeria; the least income earner in America earns at least $24,000 a year, compared with Nigeria where 90 per cent live on $2 a day.
Will this policy not diminish further our people’s capacity to get out of the vicious bracket of poverty? How now will 90 per cent of Nigerians starving on $2 a day, not be economically asphyxiated when commodity prices have jumped, in some cases by 100 per cent?
In my view, her argument and the entire policy of removing the fuel subsidy are ill thought out and ‘callous’ as some Nigerians have said.

Statement from Liverpool FC
7th Jan 2012 - Latest News

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Liverpool Football Club continue to work closely with Merseyside Police to establish all the facts surrounding the incident that occurred during last night's game.

We take this matter extremely seriously and have today provided the Police with the evidence we currently have available to us.

This includes CCTV coverage and still photography of what we believe to be the relevant part of the stadium, statements from matchday stewards in that area and full access to all the footage captured by the cameras filming the match for our in-house tv operation.

In addition, we have examined records of the tickets purchased in that part of the ground to see if they provide any additional information and have passed that on to the Police.

Finally, we would also urge any of our supporters who witnessed this incident or saw the individual involved and who have not already done so, to contact either the Club or the Police.

Author: Liverpool FC
Tagged: Statement Oldham Merseyside Police FA Cup Kop