Penguin2:
They should hold on… Obi is coming to remove subsidy so that their business can become profitable again and the government will also have funds for other critical projects.

But I want Nigerians to remember that we wouldn’t be talking about subsidy by now if not for Tinubu’s malicious and wicked brand of opposition politics.

In January of 2012, President Jonathan removed subsidy and introduced Subsidy Reinvestment Programme (SURE-P) to cushion the effect of the removal of subsidy, but Tinubu raised his army of urchins and led them to occupy Ojota in Lagos while Buhari and Elrufai engaged in their own walk of shame in Kaduna.

Today, that Buhari is the one crying for subsidy removal while Tinubu has lost his voice, and you say these guys are not wicked and evil?

I’m waiting to see Tinubu become president so that I will interrogate the existence of the God of Justice who repays all man according to their deeds.

Tinubu will never reap good for his evils, amen.

So true.
The evil that men do lives after them....
Tinubu didn't know he would one day desire (more than anything in his life) to be president

Kobonaire234:
The problem is , well, we cannot keep pretending that petrol is cheap.

NNPC cannot subsidize fuel forever. Eventually prices will go up.

The move by the DSS is for politics. It is not a reflection of what is happening on the ground.

Modified...

Below is an image of subsidy over the years. As you can see, the subsidy rises as a percentage of our oil revenue...and when it is too much, government does a partial removal...as done by GEJ in 2011/12, Buhari in 2015, and in 2019.

Subsidy rises because cost of making petrol rises, cost of transporting it rises, and so on.

Subsidy is long due for removal, I don't know why we are still in this quagmire. Remove subsidy, increase investments in both upsrteam and downstream, prices will stabilize.

Govt pays subsidy in trillions every year and the masses still bear a significant brunt, ain't that madness?

Kobonaire234:


Well we built two refineries and they broke down because subsidy and corruption.

Sell at a loss, ...

If we build a million refineries, they will fail due to corruption not subsidy. The rent takers in government will ensure the refineries fail so that bogus subsidy payment can continuously be made to then for products the did not supply. The business men and women build refineries while government check them. If the business people like, after collecting loans in hundreds of millions or billions of dollars, they should let the business crumble. That will be their business.

Under the worst and weakest Minister of Petroleum.

A man so incompetent as Minister and President.

ADAMUdaCOWBOY:

Who said so? The government has no business building any refineries, they are rogues. Private individuals - Dangote, Otedola etc should be encouraged and allowed to do so while government through its agencies regulates them. Period!

And they should be allowed to sell fuel at a profit too.

As should the marketer so that they have the profits to pay Dangote for the fuel.and the transporter for transporting it.

If we must have subsidy it must be for very poor people. And we must tax most people to pay for it.

ADAMUdaCOWBOY:

If we build a million refineries, they will fail due to corruption not subsidy. The rent takers in government will ensure the refineries fail so that bogus subsidy payment can continuously be made to then for products the did not supply. The business men and women build refineries while government check them. If the business people like, after collecting loans in hundreds of millions or billions of dollars, they should let the business crumble. That will be their business.

Like you don't get how damaging subsidy is.

In 2012 it cost N99 to bring in a liter of fuel. We were selling it at 65 naira

Now it costs N510 to bring in a liter of fuel that we sell.at N178

NNPC won't make a profit to do shishi. And a large chunk of the money for subsidy comes from the budget

JoeNL22:

We need to get the oil industry right. That's the only way Nigeria can move forward.

Obi......hope you are taking note?

....no no no.....
And rip apart the lives of the indigenes where this precious mineral is mined, while gold, cocoa, and others are exploited to the riches of so called coded billionaires.....
Mbanu

Faposky95:


....no no no.....
And rip apart the lives of the indigenes where this precious mineral is mined, while gold, cocoa, and others are exploited to the riches of so called coded billionaires.....
Mbanu

I don't understand your premise?

Associations....why don't I like that word

National Association of Barbers.... National Association of Madmen......etc

These set ups are the major problem,codedly, to the liberalisation of a free market economy....which Nigeria is very ripe for....
Govt and its watch dog agencies should have watchers....checks to allow for a plain competitive field.....
Instead, it's an avenue for lazy minded individuals to lay claim to power and corruption restructuring......

Why can't Govt with all its powers in this country control the excesses of many associations.....?

They are simple gaining backdoor

JoeNL22:

I don't understand your premise?

Wat do you really understand in the Premise called our country

Kobonaire234:



Oga, when you import something at 510 naira and sell it at 180 naira , where do you think the money to pay the difference ie subsidy comes from? Is it not from the masses money?

Is it not the poor that would suffer the resulting deficit and debt?

Okay o. I don talk

The poor is not suffering any deficit and debt
It is the greedy marketers that are looking to pillage through arbitrary prices
How many of them have invested in diesel and kerosene since it was deregulated
Only to be bringing in adulterated diesel and kerosene while jacking up prices
Those marketers belong in jail. Simple

Nbote:
The first question I want to ask is, who is the Minister of Petroleum Everytime we blame everyone from marketers, to depot owners to NNPC.. But who is in charge of the Petroleum sector?

The minister of petroleum is the head of the cartel.

Nigerians just like deceiving themselves, the Buhari government removed the indigenous security architecture in the Niger-Delta led by Tompolo and replaced it with corrupt naval officers to support their stealing of oil with the collaboration of International Oil Companies (IOC) for the best part of seven years.

Oil subsidies have increased 10 fold, yet the president, the first MD of NNPC in 1977, has failed to rehabilitate or build a single modular or new refinerfinery.

The simple solution is that Nigeria rehabilitates its four refineries and builds 10 modular refineries across the country. The refineries can be listed on the Nigeria stock market to provide some public scrutiny, and a third-party operator control at least 40% of refineries.

The corruption of the Buhari government is mind-blowing; if Tinubu or Atiku replaces Buhari, it will be the same.

Faposky95:


Wat do you really understand in the Premise called our country

Just explain your previous statement

Agbegbaorogboye:

The poor is not suffering any deficit and debt
It is the greedy marketers that are looking to pillage through arbitrary prices
How many of them have invested in diesel and kerosene since it was deregulated
Only to be bringing in adulterated diesel and kerosene while jacking up prices
Those marketers belong in jail. Simple

Lol.

toluxe0075:
Ever since I read Okonjo Iweala’s book “fighting corruption is dangerous” I’ve stop disturbing myself about fuel and crude oil palava because it’s never ending.

The kind of corruption going on in NNPC, within oil marketers, and the ministry of petroleum resources will never allow any solution in sight.

NNPC is so powerful that whatever they do is final and cannot be queried or checkmated. Any president that really wants to solve the oil revenue generated and fuel crises palava will need to seat on NNPC neck and the ministry of petroleum resources because those two are just too powerful.

The Minister of petroleum is Buhari, and the GMD of NNPC is selected by the president. The problem starts and ends with the president.

Under GEJ, his minister of petroleum was a close associated Alison-Madueke, Finance and Economic Minister was Iweala.

Kobonaire234:


Like you don't get how damaging subsidy is.

In 2012 it cost N99 to bring in a liter of fuel. We were selling it at 65 naira

Now it costs N510 to bring in a liter of fuel that we sell.at N178

NNPC won't make a profit to do shishi. And a large chunk of the money for subsidy comes from the budget

Don't you get it? Most of the time, the subsidy is paid for fuel that was never and will never be supplied. It's a fraud. The government knows the perpetrators. The government will never prosecute them because they are friends and cronies.

ADAMUdaCOWBOY:

Don't you get it? Most of the time, the subsidy is paid for fuel that was never and will never be supplied. It's a fraud. The government knows the perpetrators. The government will never prosecute them because they are friends and cronies.

Yes because when you sell at 180 after bringing it in at 510, sharp practices result.

What you have just outlined is one of those sharp practices.

Add the fact that subsidy is free money. Opportunity to.steal.

That's why it has to go. Or we raise our tax to gdp ratio.from 8% to 50% to pay for the thing

Penguin2:
They should hold on… Obi is coming to remove subsidy so that their business can become profitable again and the government will also have funds for other critical projects.

But I want Nigerians to remember that we wouldn’t be talking about subsidy by now if not for Tinubu’s malicious and wicked brand of opposition politics.

In January of 2012, President Jonathan removed subsidy and introduced Subsidy Reinvestment Programme (SURE-P) to cushion the effect of the removal of subsidy, but Tinubu raised his army of urchins and led them to occupy Ojota in Lagos while Buhari and Elrufai engaged in their own walk of shame in Kaduna.

Today, that Buhari is the one crying for subsidy removal while Tinubu has lost his voice, and you say these guys are not wicked and evil?

I’m waiting to see Tinubu become president so that I will interrogate the existence of the God of Justice who repays all man according to their deeds.

Tinubu will never reap good for his evils, amen.

You are here shouting obi obi
Do you have idea of what might happen if subsidy is been removed, let. Obi try am naaah
The igbos would be the one to complain first

.........

richeeyo:


You are here shouting obi obi
Do you have idea of what might happen if subsidy is been removed, let. Obi try am naaah
The igbos would be the one to complain first

Has keeping the subsidy improved our economy?

Penguin2:
They should hold on… Obi is coming to remove subsidy so that their business can become profitable again and the government will also have funds for other critical projects.

But I want Nigerians to remember that we wouldn’t be talking about subsidy by now if not for Tinubu’s malicious and wicked brand of opposition politics.

In January of 2012, President Jonathan removed subsidy and introduced Subsidy Reinvestment Programme (SURE-P) to cushion the effect of the removal of subsidy, but Tinubu raised his army of urchins and led them to occupy Ojota in Lagos while Buhari and Elrufai engaged in their own walk of shame in Kaduna.

Today, that Buhari is the one crying for subsidy removal while Tinubu has lost his voice, and you say these guys are not wicked and evil?

I’m waiting to see Tinubu become president so that I will interrogate the existence of the God of Justice who repays all man according to their deeds.

Tinubu will never reap good for his evils, amen.

But Jonathan partially removed the subsidy.

Kobonaire234:


Has keeping the subsidy improved our economy?

Technically yes /no
Reduced pump prices
Cheaper transport
Cheaper fuel reflects on food stuffs
And almost everything
We no get money we sha go on gen for hours dey flex inside

JASONjnr:


The topic was about marketers breaking the subsidy regime and you digressed to question who is in charged of the petroleum as if you don't know that as a minister or president, many people will override on your authority and if you enforce too much, you're labeled a tyrant...

You should first and foremost understand the thread before you ask questions that isn't relating...

Calm down bro, the person that asked the question hv also read the topic and i believe he understand what the topic is all about b4 asking the question, i think u could hv quote him with the simple answer, my cent though

Bu I am wondering why cooking gas price is also high. Do government subsidize gas also. At least gas is a local product. Haa, e beru Olorun oooh.

Kobonaire234:



While tinubu and Buhari did help in mobilizing support against subsidy removal in 2012...which happened, only partially...the fact is, most Nigerians do not support subsidy removal.

Back then, people were of the opinion that we were earning enough money from oil to fund subsidy (not true)....so they marched. All people saw was that fuel was once N65, now it is N140. Even the N97 that it came down to....

Buhari and tinubu just joined in for politics. In politics, you sometimes do the Machiavelli style to get into power.

But the truth is, if subsidy had gone in 2012, by now the same Buhari and Tinubu would be reaping the benefits.

Subsidy is loved by Nigerians. My worry is, whoever takes over, even if it is your Obi, if they attempt to remove subsidy, Nigerians will forget their divisions and remove them. Buhari tried to remove subsidy early this year. DSS warned him of potential national uprising. That's how subsidy is. Nigerians want it. Nigerians want cheap fuel. Politicians hear and obey. Even at the expense of our economy.

You are right to an extent.

Nigerians like subsidy. But this was due to lack of adequate orientation by the government of how the ordinary man in the street was going to benefit from its removal even though there’s going to be some short term consequences.

Again is the wicked and malicious Machiavellian( if you allow me to borrow your words) lies by the opposition - it was ACN and CPC in 2012 and PDP in 2021.

But the masses are now aware that subsidy can no longer be sustained and even the NLC are now toning down on their demand for retention of subsidy.

So, I think Obi can successfully end the subsidy regime without such reaction you are predicting.

Just listen to your self are you without shame you import something and sell for 141 and then the marketers are selling 300 and here you are stilling blaming the poor masses what concern the poor masses is it not people that are employed to sanction those committing this act why are you fighting to remove the subsidy stop hiding I know you are paid no logic at all just read what you wrote again

Kobonaire234:



Oga, when you import something at 510 naira and sell it at 180 naira , where do you think the money to pay the difference ie subsidy comes from? Is it not from the masses money?

Is it not the poor that would suffer the resulting deficit and debt?

Okay o. I don talk

JASONjnr:
The involvement 9f the FG is highly recommended and they had to wait until NNPC was sold because they started using federal authority to disturb them....


They should equally go after those hiking prices of goods and service during festive periods like the Christmas period....
We need to know why prices are increased...


Osinbajo tried working on it but was totally discouraged two years ago.....We can't continue like this....

it's the price of fuel that is causing the hike in food prices. If they reduce the price of fuel pump price today by tomorrow everything will just change. Don't forget that transportation has a very big effect on marketing and distribution while lack of power supply and the use of fuel by industries are affecting the cost of production and all that. Imagine when I was working at a hotel, the monthly light bill from NEPA was ₦180k, but just for a day without power supply, they spend ₦160k daily for only diesel. So we can all see that the price of fuel and lack of power supply is even the number one factor of unemployment in the country.

Penguin2:


You are right to an extent.

Nigerians like subsidy. But this was due to lack of adequate orientation by the government of how the ordinary man in the street was going to benefit from its removal even though there’s going to be some short term consequences.

Again is the wicked and malicious Machiavellian( if you allow me to borrow your words) lies by the opposition - it was ACN and CPC in 2012 and PDP in 2021.

But the masses are now aware that subsidy can no longer be sustained and even the NLC are now toning down on their demand for retention of subsidy.

So, I think Obi can successfully end the subsidy regime without such reaction you are predicting.

everything was explained to the masses then but Tinubu, Buhari and co twisted everything to their favor then. You can imagine the total removal of subsidy was ₦145 only then but now this present government that fought against it are saying that their own is about ₦500. See fraud na.

Npfn:
Just listen to your self are you without shame you import something and sell for 141 and then the marketers are selling 300 and here you are stilling blaming the poor masses what concern the poor masses is it not people that are employed to sanction those committing this act why are you fighting to remove the subsidy stop hiding I know you are paid no logic at all just read what you wrote again

Right, and the poor masses won't still pay in debts , not so?

We either pay for fuel at the pump or we pretend it is cheap and pay for it via debts and loans.

Take your pick

Penguin2:


You are right to an extent.

Nigerians like subsidy. But this was due to lack of adequate orientation by the government of how the ordinary man in the street was going to benefit from its removal even though there’s going to be some short term consequences.

Again is the wicked and malicious Machiavellian( if you allow me to borrow your words) lies by the opposition - it was ACN and CPC in 2012 and PDP in 2021.

But the masses are now aware that subsidy can no longer be sustained and even the NLC are now toning down on their demand for retention of subsidy.

So, I think Obi can successfully end the subsidy regime without such reaction you are predicting.

I don't support PDP but they the pdp govt did enough orientation in 2011 and 12.

It.changed my mind at least.

P.S I am not optimistic about the masses. As you can see, arguing for fuel subsidy removal on this site means you are evil and you are bad.

Kobonaire234:


The problem is , well, we cannot keep pretending that petrol is cheap.

NNPC cannot subsidize fuel forever. Eventually prices will go up.

The move by the DSS is for politics. It is not a reflection of what is happening on the ground.

Modified...

Below is an image of subsidy over the years. As you can see, the subsidy rises as a percentage of our oil revenue...and when it is too much, government does a partial removal...as done by GEJ in 2011/12, Buhari in 2015, and in 2019.

Subsidy rises because cost of making petrol rises, cost of transporting it rises, and so on.

How much percentage of fuel subsidy has been removed and how much percentage is left to removed?