monerozi5590:


We are in a difficult situation..APC Chairman. That's just the reality.

Everyone in this country will feel it.

We pray God gives Tinubu the wisdom to lead this country to greatness and prosperity.

Who gave him d wisdom to remove subsidy unplanned even at a situation as dicey as we we are facing..?


Remove God for thus matter,..this na Man do man

Another failed promise loading. What was Buhari doing for good 8 years? The mannequin couldn't even fix just a single refinery.

A001:
I'm sure some mumu here will be happy reading this. One of them was celebrating the extremely high cost of fuel some days ago when millions of Nigerians are suffering because of the high inflation the subsidy removal is causing.

The next thing would be to remove the subsidy on electricity so that Nigeria can be like the UK overnight. Remove all the subsidies and increase the taxes after all the government is already doing too much for the citizens.

How does this statement from the NNPC boss even make any sense?

“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price."

He said fuel prices will remain the same even when some local refineries become operational. So, there will be no effect whatsoever of refining crude oil locally?

It's clear that these people don't mean well for the masses.

How about you watch the interview yourself. That's not exactly what he said

This is sounding like Dangote's handwork.. .

Locally refined fuel would cos exactly same as the imported ones wch have landing costs as well as other miscellaneouses.....

This is looking like scam all over again....

https://www.nairaland.com/7712106/dangote-ph-refineries-others-wont

Another story again....

https://www.nairaland.com/7711820/subsidy-fg-fix-one-refinery

Itsrm:


How about you watch the interview yourself. That's not exactly what he said

What did he say then? I didn't finish watching the interview yesterday. Did Punch quote him out of context?

I sincerely hope FG manages this situation well. The last thing we need now is another round of protests, which could be worse than #EndSARS. The optics are not looking good.

A001:

What did he say then? I didn't finish watching the interview yesterday. Did Punch quote him out of context?

They quoted what they wanted to quote and left out the remaining.

He said Crude oil price is the same globally same as the cost of refining crude.

However, we will save some money from the cost of freight since we no longer have to ship refined fuel into the country. We will also save on cheaper labour cost. He's expecting a difference of up to 30 naira per litre between importing and refining locally.

A001:
I sincerely hope FG manages this situation well. The last thing we need now is another round of protests, which could be worse than #EndSARS. The optics are not looking good.

He gas goofed do badly that he seems confused.


Going back to subsidy would make him looks silly after too much talk......

No palliative measure to cushion the effect...

No plan whatsoever to communicate on d good side of the decision taken..

And no trust from the masses cos packages as bonuses are still being shared ...

He is simply just confused

Itsrm:


They quoted what they wanted to quote and left out the remaining.

He said Crude oil price is the same globally same as the cost of refining crude.

However, we will save some money from the cost of freight since we no longer have to ship refined fuel into the country. We will also save on cheaper labour cost. He's expecting a difference of up to 30 naira per litre between importing and refining locally.

And according to him, as long as the product is selling high is not a significant difference, so yea, he pretty much said cost of petroleum products won't really change even when locally refined...it's like imported crude selling for 500 and locally refined, for 470.

Who else noticed the subtle dig the man made at Buhari, when he said we're no longer in the era of banning

Theflint1:
And according to him, as long as the product is selling high is not a significant difference, so yea, he pretty much said cost of petroleum products won't really change even when locally refined...it's like imported crude selling for 500 and locally refined, for 470.

Who else noticed the subtle dig the man made at Buhari, when he said we're no longer in the era of banning

That's some difference you know? Just place two filling stations side by side with one selling at 470 and the other 500. You will be surprised people are ready to queue 2 hours to buy at 470 than to drive in and buy at 500

Segedinho:

He gas goofed do badly that he seems confused.


Going back to subsidy would make him looks silly after too much talk......

No palliative measure to cushion the effect...

No plan whatsoever to communicate on d good side of the decision taken..

And no trust from the masses cos packages as bonuses are still being shared ...

He is simply just confused

It's a daunting task. APC's Buhari was the worst president in Nigeria's history and took the country many years backward.

Looking at his disastrous performance in the just concluded tenure, it was expected that any president that would succeed him would be faced with such herculean tasks.

There should be no going back on petrol subsidy removal. Tinubu will need to plead and communicate well with Nigerians, implement some palliative measures, ensure they reach the poor masses that really need them (not party loyalists), and work assiduously to fix some refineries as soon as possible.

If Tinubu toes the same path as Buhari marred with poor communication, ineffectual leadership, and failed promises, then the country may descend into anarchy. Every hand must be on deck to prevent this.

Itsrm:


They quoted what they wanted to quote and left out the remaining.

He said Crude oil price is the same globally same as the cost of refining crude.

However, we will save some money from the cost of freight since we no longer have to ship refined fuel into the country. We will also save on cheaper labour cost. He's expecting a difference of up to 30 naira per litre between importing and refining locally.

You're right. I just resumed the interview now. This is poor journalism from Punch. They're politicizing this germane issue.

A001:

It's a daunting task. APC's Buhari was the worst president in Nigeria's history and took the country many years backward.

Looking at his disastrous performance in the just concluded tenure, it was expected that any president that would succeed him would be faced with such herculean tasks.

There should be no going back on subsidy removal. Tinubu will need to plead and communicate well with Nigerians, implement some palliative measures, ensure they reach the poor masses that really need them (not party loyalists), and work assiduously to fix some refineries as soon as possible.

If Tinubu toes the same path as Buhari marred with poor communication, ineffectual leadership, and failed promises, then the country may descend into anarchy. Every hand must be on deck to prevent this.

Communication is key. .

The fact that he said he didn't stop subsidy abruptly until June 31st but reality showed otherwise was the 1st nd very costly mistake.

I don't think there would be any effective palliatives, it is more like threating an illness instead of preventing it which is costlier.

What kinda palliatives would actually work for d poor when foodstuffs begins to skyrocket?who will identify d poor and what measures do you think would actually benefit them cos food is what keeps the poor happy...


To me,I don't see any way forward.


The amount of graduates on uber/bolt who depends on d fuel for survival is way too much.......
.

Segedinho:

Who gave [b]him d wisdom to remove subsidy unplanned [/b]even at a situation as dicey as we we are facing..?


Remove God for thus matter,..this na Man foolidgned

Tinubu didn't remove Subsidy unplanned.

-There is no money for subsidy according to a bill passed by NA 18months ago and signed by Buhari.

-For this subsidy to continue until pains can be alleviated, Tinubu has to borrow about 3 trillion before end of June.


-Tinubu can't borrow without the assent of NA. The new NA will be constituted on June 11. That means, Tinubu has 19 days to convince your lawmakers to borrow instead of sending his ministers for confirmation by senate.




There is no Tinubu to blame

Itsrm:


That's some difference you know? Just place two filling stations side by side with one selling at 470 and the other 500. You will be surprised people are ready to queue 2 hours to buy at 470 than to drive in and buy at 500

It's like saving #1,200 on a purchase I'd otherwise have paid 40k for, it's not a significant difference for the buyer, if we're being honest. And no, won't be surprised people would be willing to wait 2 hours to buy for 470 instead of 500, there's something they say in economics about the market being irrational or so...

Theflint1:
It's like saving #1,200 on a purchase I'd otherwise have paid 40k for, it's not a significant difference for the buyer, if we're being honest. And no, won't be surprised people would be willing to wait 2 hours to buy for 470 instead of 500, there's something they say in economics about the market being irrational or so...

No, it's more than 2k on a purchase of 40k. 40k/500 is 80 litres. 80 litres *30 naira is 2400

Now do it for a year and see how much you save.

Bolt drivers use full tank of fuel in two days. Long distance transport drivers use it in less than a day. Do the calculation for them too.

Nostradamus1:
Tinubu didn't remove Subsidy unplanned.

-There is no money for subsidy according to a bill passed by NA 18months ago and signed by Buhari.

-For this subsidy to continue until pains can be alleviated, Tinubu has to borrow about 3 trillion before end of June.


-Tinubu can't borrow without the assent of NA. The new NA will be constituted on June 11. That means, Tinubu has 19 days to convince your lawmakers to borrow instead of sending his ministers for confirmation by senate.




There is no Tinubu to blame

Unplanned in d sense that subsidy was dim to linger on till June 30th ....his careless speech fvcked everything up.


I think the money owed would still have been owed till June 30th irrespective of whatever....

You see why I roped him in cos in all honesty,his speech was d trick behind the chaos on ground.

No money on ground you say,but just wait a lil and see d bogus unnecessary bonuses d owners of d country would be sharing.......

A001:

You're right. I just resumed the interview now. This is poor journalism from Punch. They're politicizing this germane issue.

All media houses have their biases and it sometimes show in the way they report news.

Segedinho:

Communication is key. .

The fact that he said he didn't stop subsidy abruptly until June 31st but reality showed otherwise was the 1st nd very costly mistake.

I don't think there would be any effective palliatives, it is more like threating an illness instead of preventing it which is costlier.

What kinda palliatives would actually work for d poor when foodstuffs begins to skyrocket?who will identify d poor and what measures do you think would actually benefit them cos food is what keeps the poor happy...


To me,I don't see any way forward.


The amount of graduates on uber/bolt who depends on d fuel for survival is way too much.......
.

For those of us without an alternative power source, it's time we considered the solar route and how to use fuel efficiently to run our cars and generators.

Looks like we're in for Buhari 2.0.

A001:

For those of us without an alternative power source, it's time we considered the solar route and how to use fuel efficiently to run our cars and generators.

Looks like we're in for Buhari 2.0.

I have not even factored in d epileptic power supply we are experiencing....

It is going to be a long ride.

As it is now,recruiting 50million youth into d army might be d only way to cushion d effect

Segedinho:

I have not even factored in d epileptic power supply we are experiencing....

It is going to be a long ride

I don't even consider that one at all. There has been a power outage in my area for over three weeks now.

Outages can last for as long as a month. While still in Nigeria, it's a generator and solar inverter saving the day.

Segedinho:

Unplanned in d sense that subsidy was dim to linger on till June 30th ....his careless speech fvcked everything up.


I think the money owed would still have been owed till June 30th irrespective of whatever....

You[b] see why I roped him[/b] in cos in all honesty,his speech was d trick behind the chaos on ground.

No money on ground you say,but just wait a lil and see d bogus unnecessary bonuses d owners of d country would be sharing.......

You didn't have to. What palliative were you expecting to be ready within a month of an incoming government with barely any appointments yet.





For those who insist it is Tinubu, this are screenshots across various divide on this page agreeing that it was a Buhari clusterfuck.


https://punchng.com/nigerias-borrowing-trouble-imminent-says-budget-office/?amp

Nostradamus1:
You didn't have to. What palliative were you expecting to be ready within a month of an incoming government with barely any appointments yet.





For those who insist it is Tinubu, this are screenshots across various divide on this page agreeing that it was a Buhari clusterfuck.


https://punchng.com/nigerias-borrowing-trouble-imminent-says-budget-office/?amp

Tinubu made Buhari become Nigeria's president. Now, Tinubu himself has got to the helm, but it seems he's following the template of failure that Buhari used.

In this saga, both Buhari and Tinubu are culpable, and I sincerely hope BAT doesn't beat the unenviable record of his predecessor as Nigeria's worst president in history.

Nostradamus1:
You didn't have to. What palliative were you expecting to be ready within a month of an incoming government with barely any appointments yet.





For those who insist it is Tinubu, this are screenshots across various divide on this page agreeing that it was a Buhari clusterfuck.


https://punchng.com/nigerias-borrowing-trouble-imminent-says-budget-office/?amp

There is a rumour that Dangote refinery would start production any moment in this year...that can act as a soft landing if the FG can supply him with discounted crude...

We have got some nodular refineries who can produce some reasonable amount of fuel.....encourage them by legalising it....

Extend the deal date by 3 months with 40 to 50% amount of d subsidy's bucks.

Remove unnecessary bonuses from the thieves above us starting from yourself.

Ask yourself why Buhari didn't remove it just b4 now....




There is a reason he said don't pity me...so I think he saw everything and didn't want excuse ......He knows his friend more than us

CHOU ODAMA RASENSHEGE!!!!! 😭

Itsrm:


They quoted what they wanted to quote and left out the remaining.

He said Crude oil price is the same globally same as the cost of refining crude.

However, we will save some money from the cost of freight since we no longer have to ship refined fuel into the country. We will also save on cheaper labour cost. He's expecting a difference of up to 30 naira per litre between importing and refining locally.

30 naira difference? Really? What's the difference then?

Because right now, the prices are not uniform across petrol stations. I bought 490 yesterday and bought 480 today.

If the difference will be 30naira and not even upto 200 or 100, it's useless.

Segedinho:

He gas goofed do badly that he seems confused.


Going back to subsidy would make him looks silly after too much talk......

No palliative measure to cushion the effect...

No plan whatsoever to communicate on d good side of the decision taken..

And no trust from the masses cos packages as bonuses are still being shared ...

He is simply just confused

Meanwhile NASS are sharing 30b severance package...and you think anything will go well for the common men?

Where's that Dude that's always hoarding Fuel in Festac.

I need like 10 Liters abeg .

I wan go Odeda tomorrow.

Emaprince:
30 naira difference? Really? What's the difference then?

Because right now, the prices are not uniform across petrol stations. I bought 490 yesterday and bought 480 today.

If the difference will be 30naira and not even upto 200 or 100, it's useless.

Maybe for you. It's not for those who fill thier tanks twice everyday, once a day or once every two days.

Mele Kolo Kyari, ladies and gentlemen. It's satisfying to watch experts who are in tune with the complexities of their job. I like how the interviewers appear confident that they have cornered him after every question, only to be sent back to elementary economics classes. I wish this could be available in various local languages for widespread awareness. Gimba Kakanda

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