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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses (28496 Views)
Innoson Is Producing 100 Units Of CNG City Buses For NNPC / Senators Bicker Over Innoson Motors Boss, Chukwuma / Governor Uzodinma Gifts Innoson Motors To Head Of Service, Permanent Secretaries (2) (3) (4)
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Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 6:35am On Nov 28, 2021 |
Ofunaofu: 1. The subsidy removal was not total plus oil prices started crashing in 2014, and then more money was diverted to raising subsides. (Originally the subsidy removal would have been total. Protests made it partial then it returned.) 2 That meant that the thing could not be sustained. |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by slydog(m): 6:35am On Nov 28, 2021 |
This is not too a good one. We lack visionary leaders. You know that you plan on removing subsidy next year. Contract for these gas buses should hv been made since early this year, so that by now they will be distributed to various states. Now you are giving Contract for only 100buses. Will that be enough for only Abj or Lagos? We hv a lot of assembling companies in Nigeria. There's nothing absolutely wrong in giving them Contract to supply all the states in Nigeria 100 of these gas/diesel bases, instead of the prospective corruption ridden N5000 to be given to poor Nigerians which will be hijacked at the end of the day. |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by toujurs: 6:35am On Nov 28, 2021 |
jimyjames:haters will see it as a negative comment, their hate is what has rendered tem unproductive |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by DaveHarry(m): 6:37am On Nov 28, 2021 |
I don't know about this subsidy of a thing/scheme whatever. What is the advantage(s) and disadvantage(s) of fuel subsidy removal sef? |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Indispensable85(m): 6:38am On Nov 28, 2021 |
The bloody revolution that will follow this proposed increase in fuel price will be irrepressible and unprecedented. 1 Like |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Bigboy911: 6:42am On Nov 28, 2021 |
Igbos are greater than every tribe in Nigeria,am a Yoruba but i reject my skull mining ewedu tribe 1 Like 1 Share |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Soobee(m): 6:44am On Nov 28, 2021 |
where road wey d buses go pass oh? |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Elostar: 6:53am On Nov 28, 2021 |
isaiah4life:do u really love me or scope ka iji aram |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 6:53am On Nov 28, 2021 |
DaveHarry: How subsidy works. The petrol industry refines fuel at a cost price A per liter of fuel while government makes it sell fuel at a cost price less than the cost price A called pump price B. To compensate the industry for its loss of selling fuel at a price below the cost price A, government pays them a subsidy which in theory covers the difference between prices a and b However the cost price a always rises because of salary increases, increased costs of maintenance, increased transport costs, costs of upgrades to refineries etc. So the difference between the cost price a and pump price B rises. That means subsidy has to either rise as well to cover the loss, meaning 1.government eventually diverts money from other sectors of the economy to pay for the subsidy 2. Goverment allows price increases in fuel price to a point where they can still pay a subsidy and keep price at pump B below price A or the cost of production A per liter. 3. However cost of production keeps increasing, so the subsidy keeps increasing to keep the price low,and the cycle continues 4 At some point government starts cutting costs by skimping on refineries maintenance meaning refineries break down which means we end up importing 5. Also because subsidising fuel means in principle that the oil industry cannot earn a substantial profit, that means that new refineries cannot be built. And no investors are going to come and build a new refinery a and sell at a loss, which goverment subsides won't cover for them.( And unlike government refineries, private refineries have to source their money) 6. That in a nutshell is how subsidy works and why it should go. 7. Of course the major disadvantage of subsidy removal is a massive increase in food and transport prices. 2 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by soik(m): 6:54am On Nov 28, 2021 |
So this pple are still going ahead with removing subsidy. Will these buses help put gas in my house GeN or shop GeN? |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by EdwardRandy(m): 6:57am On Nov 28, 2021 |
Putindbutt:And so?? Your kinsmen fit manufacture side mirror?? 4 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by mediainc: 6:58am On Nov 28, 2021 |
Energy is key to our economy...every business uses energy, making it hard for Nigerians to afford fuel, will lead to decline in economic activity and decline in spending and taxes. Removal of subsidy on fuel will affect Nigeria's economy adversely...every small shop has a generator, every Nigerian has a small generator that he buys fuel for everyday. Government should ensure 24hrs power supply, before thinking of removing fuel subsidy. Is it because of IMF advice that is making our government remove the subsidy? IMF is a private club, they are only concerned about making profits off loans they give to poor countries, they don't care about our economy or lives. 200million Nigerians use fuel everyday, government should not destroy our economy just to keep money for corrupt governors and political office holders. 3 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by EdwardRandy(m): 6:59am On Nov 28, 2021 |
RichDad1:They didn’t do it out of love, the act was purely born out of necessity |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by efighter: 7:00am On Nov 28, 2021 |
jimyjames: Negative response kee you there. No matter how much you hate something or someone, you will still find one or two qualities that you will find worthy in such a person or thing. |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Ikpopo: 7:02am On Nov 28, 2021 |
So how many of these buses will serve the whole country,I remember this same thing was said during the last administration but I ask:Where are the buses Jonathan promised.Humans never change and they keep dominating their fellow man to their ruin |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Vistra40: 7:02am On Nov 28, 2021 |
JaySterling: This ain’t necessary bro |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by AmazingELixir: 7:02am On Nov 28, 2021 |
I wish innosen will start domesticating the manufacturing of the heavy mechineries it uses for its production and the vehicle parts. Anambra people are second to known will it comes to entrepreneurship and creativity. 1 Like |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Dhury: 7:04am On Nov 28, 2021 |
We don't want foreign made cars in Nigeria .buy naija grow naira |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:05am On Nov 28, 2021 |
RichDad1: The Buhari hates ibos mantra serves the same function as the GEJ hates Hausa and Muslims mantra of yesteryear Scare people into voting for the right side. It doesn't matter that Buhari had an Ibo running mate in previous elections, or that Gej worked well with a Hausa Fulani president and a Hausa vice President, or that both of them appointed people from the tribe they are supposed to hate to high positions. Plus if I were President of Nigeria, I would try to back domestic industry as much as possible. When we had companies like PAN an VON, previous leaders patronised them and did not import cars for government use 1 Like |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by blowjohn(m): 7:06am On Nov 28, 2021 |
Look past this: They have money to buy hundreds of buses. But don't have money to fix our refineries. 2 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by africanman85: 7:07am On Nov 28, 2021 |
backbencher:But has this subsidy of a thing not been there since independence? What economic benefits are we going to get from subsidy removal since the same subsidy will be evenly distributed to the masses and not everybody earns from govt. Curious to learn 2 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:14am On Nov 28, 2021 |
isaiah4life: |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:14am On Nov 28, 2021 |
africanman85: I'll be brief. I am getting ready for church 1.Subsides have been around since the 1970s ..and not just on fuel.( There are subsides on education and health, which is why government universities dont charge fees in the millions like private universities). 2.Removing subsides means profits will be made to provide more refineries, expand and upgrade existing ones and bring in more jobs. For more information click link below Link 2 Likes |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:15am On Nov 28, 2021 |
Grace001:Abeg shut up |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by BRATISLAVA: 7:15am On Nov 28, 2021 |
moscobabs: And from what tribe is the minister of transportation? |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:17am On Nov 28, 2021 |
Realhommie:lol they'll never give credit. Accept for the reasonable ones who are leaving in the north, getting married, attending there church in peace while doing there business. 1 Like |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Nobody: 7:17am On Nov 28, 2021 |
onojaford:the owner is dogged |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by MICHEALADEX(m): 7:21am On Nov 28, 2021 |
Yet they'll still hate and claim the government hate them even when they are cashing out on same government. |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by michoim(m): 7:22am On Nov 28, 2021 |
Nonsense |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by Dshocker(m): 7:24am On Nov 28, 2021 |
This is a welcomed development |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by ogododo: 7:24am On Nov 28, 2021 |
Grace001: No be wetin GEJ promised dem, but dey go Ojota dey dance palongo dance. By de time bubu finish Nigeria next level go get measurement. |
Re: Fuel Subsidy Removal: NNPC Contracts Innoson Motors To manufacture city buses by MikeBetty(m): 7:26am On Nov 28, 2021 |
This is nonsense. Fg is playing with the masses. Yo want to cushion the effect of subsidy removal and you are ordering for just 100 buses. Shame on those leaders. We have 37 states ABJ included, that is 2 buses per state. Shame on govt. We have 774 LGAs no single bus for them. Govt is earmarking 2.8trillion to transfer to presume poor. Yet 2.8trillion can build at least 2 new refinaries and nigerians will not import again. If dangote will build why cant nigeria govt do more than it? 1 Like |
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