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Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:43am On May 28, 2015 |
trillville: Go ahead and pursue justice all you want, but while you are doing that, do not mortgage my children's future by borrowing money to pay subsidy. Accountable leaders alone can not drive out corruption. That is wishful thinking. It is the policies of the accountable leader that can stop corruption . If you encourage fast money, you will breed fast money citizens. Extinguish the fire burning your house by first killing the source of that fire You have no choice than to trust your leaders and hold them responsible. Whether you remove subsidy or not, they will eat fat. The only thing is that your future will be mortgage for life while your leader get new citizenship in a foreign country and pop champagne to our foolishness 1 Like |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:31am On May 28, 2015 |
frehage:m Don't be deceived. What you produce is not adequate. 2.2 million bbl per day for 170 million people is not adequate. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:24am On May 28, 2015 |
trillville: Removing subsidy is not taking away money from anybody. Your barber streaking to work is because of subsidy. You are in a dire situation. The situation I gave on page one. Do you want to keep giving your children pocket money and fueling your generator while your roof is leaking? They can go to school, no health care, and you want to keep paying subsidy? |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:15am On May 28, 2015 |
trillville:Delusional feelings and fear of the unknown will hurt you psychologically and financially. Numbers are faithful. They don't lie. PMS price being 1.1 dollars will only hurt you if you are to timid to face facts 1 Like |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:06am On May 28, 2015 |
Esdb3: What you don't seem to understand is that if they is no corruption you are still flat broke. 4 Trillion of 170 million people is suicidal |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 12:02am On May 28, 2015 |
jpphilips: 1. How many time do you want me to tell you the reason they refused to load? Can someone in this forum tell this guy the read my comments. Mr, have you read the reasons I gave you. 2. If you can't understand me or read my comments, why should I keep posting. I will do others a favor to give post my proposed solution to price fixing is to pass laws punishing severely price fixing. If you work for an American company and you are caught sharing information and trade secrets to your competitor, it is instant dismissal. No room for cartels in the eyes of the law. The marketers should collect loan and stock their AGO in the tanks. If they don't sell, they should keep it. We will buy from Togo. Our planes will fly to Ghana to refuel. Prominent Price Fixing Examples Air Travel In August 2007 British Airways was fined £121.5 million for price fixing. The fine was imposed after BA admitted to the price fixing of fuel surcharges on long haul flights . The allegation first came to light in 2006 when Virgin Atlantic reported the events to the authorities after it found staff members from BA and Virgin Atlantic were colluding. Virgin Atlantic has since been granted immunity by both the Office of Fair Trading and the United States Department of Justice who have been investigating the allegations since June 2006. The US Department of Justice later announced that it would fine British Airways $300 million (£148 million) for price fixing. BA maintained that fuel surcharges were "a legitimate way of recovering costs. " Beer In April 2007 the European commission fined Heineken €219.3m, Grolsch €31.65m and Bavaria €22.85m for operating a price fixing cartel in Holland, totalling €273.7m (InBev, another brewer, was convicted for price fixing but escaped punishment) . The brewers controlled 80% of the Dutch market, with Heineken claiming 50% and the two others 15% each. Neelie Kroes said she was "very disappointed" that the collusion took place at the very highest (boardroom) level. She added, Heineken, Grolsch, InBev and Bavaria tried to cover their tracks by using code names and abbreviations for secret meetings to carve up the market for beer sold to supermarkets, hotels, restaurants and cafes. The price fixing extended to cheaper own-brand labels and rebates for bars. Source: Boundless. “Price Fixing.” Boundless Marketing. Boundless, 14 Nov. 2014. To be honest, I am tired of your post. It's a big shame you do not know the effects of a devalued Naira. 18000 Naira today is less than 18000 minimum wage is this time last year. It has lost its value by 25%. It means if you continue to put subsidy on your budget, you will of course continue to run deficit, which will in turn weaken your currency, and then further reduce your 18000. So who loses, the masses. You seems to be a marketer or paid agents, that why you are hell bent on distorting reality. Don't mortgage people's children's life because of the fraud subsidy. It must go. Lastly, if you think we are incapable of running a free market in Nigeria, especially in the oil sector like every other countries (95% countries) the Nigerian spirit will prove you wrong. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 10:52pm On May 27, 2015 |
Esdb3: What I meant is that all countries pay the international price of PMS. Poor, rich, no so rich etc. you seems to be the heartless one. Mortgaging your Kid future for a plate of yam. PMS at the international price would hurt no one. It's the panic and delusions that will hurt. The opportunities in a deregulated downstream sector is enormous. We just have to do it. If you do not do it, your government will have to borrow money to run your country. It is suicidal to run a country of 170 million with ll have to borrow money to run your country. It is suicidal to run a country of 170 million with 4 trillion Naira. You will be worse than Somalia in the future. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 10:50pm On May 27, 2015 |
Esdb3: What I meant is that all countries pay the international price of PMS. Poor, rich, no so rich etc. you seems to be the heartless one. Mortgaging your Kid future for a plate of yam. PMS at the international price would hurt no one. It's the panic and delusions that will hurt. The opportunities in a deregulated downstream sector is enormous. We just have to do it. If you do not do it, your government will have to borrow money to run your country. It is suicidal to run a country of 170 million with 4 trillion Naira. You will be worse than Somalia in the future. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 10:34pm On May 27, 2015 |
adanny01: Corruption doesn't go away by wishing it. It goes by creating policies which in turn creates a system where corruption would not thrive |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 10:30pm On May 27, 2015 |
jpphilips: 1. The Nigerian solution is to get rid of subsidies on PMS. 2. I have also told you why AGO was scarce. Can't you read? 3. They won't give you candies or pepper if your government learn how to regulate a free market |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 9:42pm On May 27, 2015 |
jpphilips: you are also making me repeat myself. Pray tell me why AGO is not scarce in Togo, Chad, USA KENYA etc. You owed the markerters and they showed you pepper. Also pray tell while the annihilation of the middle class has not occured in 90% of the countries. They have devalued your Naira, what it means is that any money you have now (savings) has been reduced by 10 percent. Your expenditures have also been increased by 10%. It means you are actually buying your so called subsidized PMS for 10% extra. Annihilation of the middle class has not occured. Stop the delusion that government can not regulate a free market. Its a communist mentality. 2 Likes 1 Share |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:58pm On May 27, 2015 |
adanny01: Stop the delusion that a hike in PMS prices will affect anything. It wont. If at all it does hike, it is caused by your delusion. Your delusion will panic the market. Your economy is run by diesel not PMS. There are no reasons while the hike in PMS would mean hike in anything. What was the hike in prices when we paid 97 Naira? Even if everything hikes, we would not die. Again do you want your kids to be out of school, you want your wife/mother/kids to die in the hospital because you do not have good medicare, but you want to fuel your Gen in a leaking house? Agriculture is the sure bet to put your subsidy money into. It is the real sector. You employ your people, you feed your people, you produce excess and reserve in time of war, you diversify your economy, you earn exchange rate and put less pressure on your naira and as such values your naira which will in turn reduce price of imported PMS. I can go on and on. Hopefully you get the picture now. Do I need to explain to you how investing in education can help our economy? With all due respect try I read about economics. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:49pm On May 27, 2015 |
jpphilips: Again, please be more civil, it will help us all aprreciate your line of thought. If the so cabal are allowed to sell at 1.1 dollar per litre they wont hoard. PMS is not cheap let us deal with it. AGO is deregulated in 90% of the countries, but not scarce, why should it be scarce in Nigeria? |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:45pm On May 27, 2015 |
nairamaniac: You have spoken well. Removing Jonathan and putting another Jonathan will change nothing. OBJ/Yar Adua/Jonathan was scammed, will Buhari be scammed? May 29th onwards will tell. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:35pm On May 27, 2015 |
jpphilips: Please be more civil. Stop being scared. It is better we are at the mercy of them and learn how to checkmate capitalism excesses in a free market than still be on thier mercy right now. No country ready to progress will pay subsidy on Imported PMS. Subsidy is not a bad word. It should be done in other places (Transport, Agriculture, Education) Not Imported PMS. Like someone said, Imported fuel accounts largely for why the Naira is so weak, that hurts your purse 10 times more than removing the present subsidy will. As it is, remove or no remove only those involved in the scheme/scam wins! The only difference will be an accountable leader will have more money to work (Build Infrastructure) |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:22pm On May 27, 2015 |
TheGoodJoe: Stop living in the past. GEJ is gone. We are talking about the next budget. It is immaterial what GEJ did not did not do. What is important is the future. I can not get back the money owed by my leaders since 1960 about 41 billion dollar debt. Either can i get back the 18 billion monies our state government collected, or the 3 billion NOI collected. What I can do is learn from the past, think about the future and be look to be Brazil, Turkey, China and eventually U>S>A, Japan, Germany etc. 1 Like |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:13pm On May 27, 2015 |
TheGoodJoe: With this mentality, you are no different from your leaders. You want to chop the one you see which is 30 Naira. If you see 1 billion, you wont care, you go chop am, then mortgage your kids future. its alright. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:09pm On May 27, 2015 |
djmummy: Thank you. So what is your position? Remove or not to remove? |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:08pm On May 27, 2015 |
TheGoodJoe: Remove corruption and use 4 Trillion as budget, you are still flat broke. Double that figure to 8 Trillion, you are still flat broke. Oga, you need a trillion dollars to have infrastructure for 170 million people In this case, your security lies in building infrastruture (Military, Agriculture, Education). It does not lie in fueling your generator. You have proven that you did not die the last week. You have proven that when the price was almost doubled from 65 naira to 97 naira, you did not die. Infact you bought more cars. Your poorer neighbours are not dead. Do not mortgage you kids future |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 8:07pm On May 27, 2015 |
pawesome: Thank you. We should learn how to trust our leaders. Some of our leaders want to make things work but lack of trust hinders them. If Buhari truly wants to make things work, why should we hinder him? Why unfortunately we did not trust GEJ, NOI and SLS, why make the same mistake twice. Give Buhari the support to get rid of the thong in the flesh. 1 Like |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 7:53pm On May 27, 2015 |
TheGoodJoe: Man, we have no infrastructure. Remove corruption and use 4 Trillion as budget, you are still flat broke. Double that figure to 8 Trillion, you are still flat broke. Oga, you need a trillion dollars to have infrastructure for 170 million people In this case, your security lies in building infrastruture (Military, Agriculture, Education). It does not lie in fueling your generator. You have proven that you did not die the last week. You have proven that when the price was almost doubled from 65 naira to 97 naira, you did not die. Infact you bought more cars. Your poorer neighbours are not dead. Do not mortgage you kids future |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 7:19pm On May 27, 2015 |
989900: Fantastic |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 7:16pm On May 27, 2015 |
jpphilips: Great answer. Thanks |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 7:15pm On May 27, 2015 |
jpphilips: Please esplain futher, I do not understand this question. I will put an answer, tell me if this helps 1. Because the sector is not fully deregulated. The money these marketers get from PMS, they can afford to sell diesel to you at any price. You are lucky. If the sector is fully deregulated, you may buy diesel at 180 Naira per liter 2. I also believe the reason that the price of diesel is high is because it is not lucrative to import it. The marketers simply ignore it and all rush for the beautiful bride called PMS because of the subsidy they will get from govt. This creates artificial relative scarcity of diesel and the price remains high 3. The price of crude oil is not directly proportional to the price of diesel. In other words if the price of crude oil is reduced by 40 percent, the price of diesel will only reduce by 5% or less The reason being diesel is a necessary by product from the very cherished PMS. It's prices are determined by refining margins amongst other factors. These margins are calculated from the composition of crude refined The price of diesel has dropped in several countries but risen in others. From July 2013 to July 2014 (oil price peak), the retail price of diesel dropped by 3.6 percent in Germany. In Japan, prices increased by 9.7 percent during the same time. The United Kingdom had some of the highest prices for automotive diesel, reaching 1.93 U.S. dollars per liter in July 2014. Today in the UK, the price of diesel is 1.91 U.S. Dollars. 4. I also believe the reason why diesel was scarce last week is because markerters refused to lift. diesel boggle everywhere 2 Likes 1 Share |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 7:10pm On May 27, 2015 |
TheGoodJoe: I mean protest (by voting or strike) that your kids have this in future. Stop living in the past. Because a protest was done in 2012, i should not use the word protest in any context? There are no reasons while the hike in PMS would mean hike in anything. What was the hike in prices when we paid 97 Naira? Even if everything hikes, we would not die. Again do you want your kids to be out of school, you want your wife to die in the hospital because you do not have good medicare, but you want to fuel your Gen in a leaking house? PMS being cheap is like your government giving you 20 Naira and collecting 200 Naira. from your reasons, If you do not allow them take subsidy the same government has the license to take loan on your head will go and take loan, pay the subsidy (their cronies) and chop the balance. So why dont you trust your government? The same government will devalue your Naira and the 20 Naira, 80 Naira or even 200 Naira you want your govenment to give you is erased. Think. you have put so much pressure on your Naira |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 6:29pm On May 27, 2015 |
TheGoodJoe: This is a joke right? TheGoodJoe: The call for removal has nothing to do with GEJ. It has everything to do with whoever will write the next budget |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 6:26pm On May 27, 2015 |
wirinet: I used candles to read in my secondary and univeristy school days. 30 million of the kids in this country use candles to read. At least you can guy a Gen, maintain it and can also afford it at 87 Naira Protest for infrastructure not subsidy. Protest so these kids will have light to read their books not subsidy. 2 Likes 1 Share |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 6:10pm On May 27, 2015 |
wirinet: So in other words, Apart from rashes for your kids removal of subsidy on PMS as no major economic impact right? |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 6:03pm On May 27, 2015 |
TheGoodJoe: Most crude exporting countries are poor. I wont use all of them. I will only use the rich once. 1. UAE: The UAE is 8 million migrant and 1.4 millions citizens. Budget is in excess of 4 trillion Naira. Economy is so diversed that only 4% of oil revenue go to Dubai city budget. They produce 3.2 million bbl per day. Again, a population of 1.4 million people produces 3.2 million bbl/day 2. Saudi: Population 27 million people with a whooping 11 million bbls/day. Saudi also has a gold mining sector and other mineral industries, an agricultural sector that can feed the whole middle east and large number of temporary jobs created by the roughly two million annual hajj pilgrims. They have about 1 Trillion dollars saving, super infrastructure in place and is looking to emulate dubai and build 4 cities (1 Trillion dollars can do that). The cities will be spread around Saudi Arabia to promote diversification for each region and their economy, and the cities are projected to contribute $150 billion to the GDP. 3. Kuwait: 1.2 Million people (voting population of Alimosho LGA) and produces 2.8 million bbls per/day. They have about 600 billion dollars saving. 4. Qatar: 270,000 Qataris (1/10th the size of lekki). 1.5 million bbls/day of crude oil produced. 120 billions saving. Great infrastructure in place. Now soak this information and see what these guys have in common 1. Extreamly low population 2. Massive infrastructure 3. High production rate 4. Massive savings Your country lacks all 4. You need all 4 badly. 2 Likes 1 Share |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 5:43pm On May 27, 2015 |
Sweetguy25: And exchange rate is determined by the amount of pressure you put on the Naira. Create an environment for investors, they build refineries, you reduce 40 million litre of imports per day, you reduce the pressure on your naira, then bang you will cruise. 1 Like 1 Share |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 5:30pm On May 27, 2015 |
wirinet: It wont. Everything manufactured in Nigeria run on Diesel not PMS. Event services (Bank, entertainment, Hotels) run on Diesel. |
Politics / Re: Subsidy 101: Q &A On Subsidy. by gohome: 5:26pm On May 27, 2015 |
TheGoodJoe: Raw materials have to be translated to money before it makes sense. 170 million people with 2 million bbls per day? Take a moment and soak that figure then You can not compare your selves with Oil producing nations doing well. 1 UAE 2. Kuwait 3. Saudi. If you still do not get it let me know, i will expantiate. |
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