Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

Now have you trusted the government of the day?

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

Do you now trust the government of the day? Are you seeing the ex-political looters in his cabinets recently? Just wait after the first 100 days of this government in power before you conclude.

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

And now we trust the government of the day?
Bro you're one hell of a funny dude!
You deserve to teach in the kindergarten, that's where you tell such stories and they believe because they know nothing!

Suffering will only continue no matter what any human does. The end must come.

Corruption infested organizations or countries will suffer more

seunmsg:


Nothing less than N400 with current market conditions. However, market conditions may push the price upwards or downwards anytime. The point of removing subsidy is not to fix price but to allow market conditions dictate the price.

So why should NNPC fix the price knowing fully well that others follow their template

dettolgel:


I think there is a problem with your thought process or this issue, I don't want to use the word binary, but you didn't think it true before typing.

The issue here is not about the corruption or non-corruption in GEJ administration but about a policy that he wanted to implement and was "persecuted" for it.

I think the idea of the apology is an avenue for people to accept that they were wrong and this I think would create a sense of humility in our society that anyone could make a mistake and can also retrace their steps.

Nigerian are the only people that when accosted with their mistakes instead of apologizing they will double down and find a way out.

In Nigeria we think that accepting one's mistake is a sign of weakness, but in reality it is actually a sign of strength.

In a sane clime people will accept their errors in judgment, apologies and move on. The good thing with such behavior is that you are teaching the young ones that mistake is part of life, if you happen to make one, it is okay to accept your fault apologies and learn from it.

Accepting one's error is not a sign of weakness.

Instead of accepting that pushing against it back then was an error of judgement, like you guys are doing we can shift from it and start talking about corruption then.

The problem with people that would rather shift the conversation to issue of corruption then, is that none of them are ready to talk about the corruption that plague the nation in the last 8 years.

There is no where in the world where the removal of government subsidy would not be met with resistance, so I am afraid your arguments are reductionist at best.

Jonathan's main problem stemmed from his desire to inflict horror on Nigeria's masses, while simultaneously kowtowing to a cabal with vested interests. He gets no apology from me as no amount of revisionism couched in flowery language can rewrite the past.

By the way, I am of the view that Buhari's administration carries an even greater charge of incompetence on this issue, especially given that he doubled as our nation's minister of Petroleum.

Lastly, although a moot point at this stage, I supported the protests then as I do now.
It is the responsibility of government to assuage the people that it is alive to its duties, and can therefore address our current economic crisis, and not DaddyJapan's.

Jonthan really wanted subsidy gone, but em power no reach. We call dem marketers, but do you know these poeple individually? Pls do a research and see the people dey head various companies, e go shock u.

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

seunmsg:


Maybe I really don’t get what you’re arguing about because my post clearly allude to the fact that petrol should be cheaper when refined locally than when imported.

Your initially argument was that there will be no subsidy once we refine petrol locally and I corrected that impression that subsidy is not a function of local refining or importation but a direct result of price fixing by government.

If Dangote for example refines locally at a cost plus profit of N300 per liter and government fixed the price at N195, there will still be a subsidy element of N105 that government will have to bear to sustain the fixed price.

It is also not true that removal of subsidy started in 2012. We’ve been talking about removal of subsidy since the IBB administration. All the price increment under Obasanjo was about a gradual removal of subsidy. Jonathan only attempted to remove everything at once in 2012. So, it is nothing new truly but it dates far beyond 2012.

Using your own analogy, if Government is fixing price at N195, and paying subsidy on Dangote's N300, the subsidy paid will still be cheaper than subsidising N530 to N195.
My point is we MUST develop local refining capacity in order to reduce waste of resources on refining abroad, resources that can be used for develppment of so many other sectors
And on the subsidy issue, I said "came to public light in January 2012", because that was when the whole Country knew what exactly subsidy was about. Of course, it had been an issue long before then.

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

You dey yarn dust, what has trust got to do with making the right decision?
And don't tell me you trust this government cos there's no how you want to defend bat and not look stupid, same tinubu that organized protest to stop Goodluck from removing subsidy? Alot of you are clowns 🤡

Jiggyronnie:


Using your own analogy, if Government is fixing price at N195, and paying subsidy on Dangote's N300, the subsidy paid will still be cheaper than subsidising N530 to N195.
My point is we MUST develop local refining capacity in order to reduce waste of resources on refining abroad, resources that can be used for develppment of so many other sectors
And on the subsidy issue, I said "came to public light in January 2012", because that was when the whole Country knew what exactly subsidy was about. Of course, it had been an issue long before then.

The N300 is an example and not the reality. I only used it to explain to you how subsidy can still exist even when petrol is refined locally.

ogaontop:

So why should NNPC fix the price knowing fully well that others follow their template

NNPC is an importer. You can also import and fix your own price. That’s what deregulation is all about. Allowing market forces to dictate prices of commodities.

AdviserGeneral:


Which 95%? The protest was basically in Lagos only, and was sponsored by Tinubu, that was why the likes of Buhari, Oyegun, Ribadu, Tunde Bakare, Soyinka, Femi Kuti and other silent betrayers participated. Nigeria would have since gone beyond subsidy by now.[ Besides, the government of Jonathan offered cushioning effects of the removal on like the present day government.

APC and confusion are just siamese twins, when the narratives suits them, they change the goal post. They level of corruption in Nigeria since 2015 has increased tremendously compared to what Nigeria witnessed in 2012. People are suffering

You have made a point of observation. Unless a successful protest in Lagos subsidy removal will see the light of the day.

AareGaa:


No Ibo man can win a free and fair elections in Nigeria.
That's why they planned a coup in 1966.

I would have believed you, if only your EYENECK sent our results immediately to the IREV. So I don't take people like you serious, cos EYENECK, never kept their part of the agreement. THIEFNIBU tried his popularity in Lagos, dem give am WOTO WOTO, him try am for Abuja, him collect, try am again for him state of origin, dem still dash am WOTO WOTO, making him to result to rigging his way up.

AareGaa:


No Ibo man can win a free and fair elections in Nigeria.
That's why they planned a coup in 1966.

I would have believed you, if only your EYENECK sent our results immediately to the IREV. So I don't take people like you serious, cos EYENECK, never kept their part of the agreement. THIEFNIBU tried his popularity in Lagos, dem give am WOTO WOTO, him try am for Abuja, him collect, try am again for him state of origin, dem still dash am WOTO WOTO, making him to result to rigging his way up.

GUNITGuy:

Oil is not as profitable as it was during Gej.....The Arab spring and middle easterner wars made many nations to turn to Nigeria .....That was the height of oil sale Nigeria ever had .......They were so many wastage under Gej inspite of his economic teams ...The Uk prime minister James Cameron Attested to this fact were he referred to Nigeria as fantastically corrupt in 2014

The Prime minister of UK said that in 2015 while Buhari was president

Reference:


Oga. Whether you refine or not. When you pay less that what the market price is you are being subsidized.

It was subsidies that killed the refineries in the first place and every business enterprise government owned from electricity production to airlines right from inception till now.

And watch it, subsidies will kill rail transport too. So if government builds a million refineries, if it cannot make enough revenue for maintenance everything will go down sooner than later.

I don't know where this claim of subsidy killing refineries is coming from but it ain't true one bit.
Refineries were killed by IBB that shifted their running to the presidency. That bureaucracy led to timely maintenance becoming an issue

DaddyJapan:


There is no where in the world where the removal of government subsidy would not be met with resistance, so I am afraid your arguments are reductionist at best.

Jonathan's main problem stemmed from his desire to inflict horror on Nigeria's masses, while simultaneously kowtowing to a cabal with vested interests. He gets no apology from me as no amount of revisionism couched in flowery language can rewrite the past.

By the way, I am of the view that Buhari's administration carries an even greater charge of incompetence on this issue, especially given that he doubled as our nation's minister of Petroleum.

Lastly, although a moot point at this stage, I supported the protests then as I do now.
It is the responsibility of government to assuage the people that it is alive to its duties, and can therefore address our current economic crisis, and not DaddyJapan's.

I am not surprised at your response.

Instead of focusing on the issue at hand you are trying to create distractions.

To me it does not make sense to engage in such a conversation.

By the way, I don't think the person that suggested that an apology or better still an acknowledgement that the policy as suggested in 2012 was in order was referring to the mobs.
I would think he was referring to people that matters, decision makers and politicians that mobilises mobs to do their dirty jobs.

Unless you are one of the politicians or policy makers that he was referring to in which case you can respond to him through his handle and state why you wouldn't do so.

Otherwise, I don't think anyone needs your apology or acknowledgement of the importance of the policy.

seunmsg:


By your own analogy, the price per gallon in Nigeria at exactly the same period in 2012 would be N150x$3.791 = N568.6. In May 2023, the same product will sell in Nigeria at N750x$3.666 = N2750.

If one liter in Nigeria today is N530 average, a gallon of four liters should be 4x530 = N2120. So, it is still cheaper in Nigeria than even the US.

I hope you can now see the difference. When you’re making comparison, you factor in exchange rate differences.

Why use forex ?
Oya use forex to judge minium wage too

Kukutenla:

Why use forex ?
Oya use forex to judge minium wage too

Exchange rate is key to determining the price of petrol since crude oil is traded in dollars and not Naira.

seunmsg:


Your ignorance is appalling. You think the price will remain static till now from 2012? If we’ve allowed GEJ to fully remove subsidy in 2012 and eliminate regulated prices, the price per liter would still be around N500 today so what’s your point?

God bless you bro

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

How u guys sit down and make up statistics beat my imagination.
So, right now, 95% of Nigerians now support it?

seunmsg:


We’ve spend more than what Dangote used to build his own refinery to turn around our old refineries but they are still as dead as dodo. Spending money on the refineries is just like sinking money into a bottomless pit. It has never worked since 1999 and it won’t work. We must sell those refineries immediately and allow private investors handle the sector.

These private investors do they have two heads? Why can't it work? Corruption simple and short. If we don't kill corruption, corruption will kill us. That's why instead of facing the elephant of corruption strangling us we are piling more misery on the people in the name of subsidy removal. Shameful for a country with absolutely no public utilities or social welfare net for the people or even loans to support businesses.

seunmsg:


Exchange rate is key to determining the price of petrol since crude oil is traded in dollars and not Naira.

Correction crude oil exported is traded on the international market in dollars. You cannot compel Nigeria to sell crude to Nigerian oil companies refining fuel in dollars. It makes no sense especially as our budget is denominated in naira.

obi58:


Correction crude oil exported is traded on the international market in dollars. You cannot compel Nigeria to sell crude to Nigerian oil companies refining fuel in dollars. It makes no sense especially as our budget is denominated in naira.

It is still valued in dollars and paid for in Naira equivalent. Crude oil is not valued in Naira. NNPC will sell crude oil to Dangote in Naira equivalent of the international price in dollar.

seunmsg:


Exchange rate is key to determining the price of petrol since crude oil is traded in dollars and not Naira.

Crude oil from Russia is presently traded in Rubies. China and Russia presently use Yuan to trade. So it's only someone suffering from Western colonialism that will claim exchange rate is key to determining petrol price.
Crude oil is readily available in Nigeria so we have no business transacting its products in dollars if we refine by ourselves.
It's like saying since ethanol is traded in dollars with US, dollars should determine the price of garri

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

Same here, i don't trust Tinubu government because he wants to recover all the money he spent before and during the election. I don't see any difference between Buhari and Tinubu. I'm out of here

Henz81:
Same here, i don't trust Tinubu government because he wants to recover all the money he spent before and during the election. I don't see any difference between Buhari and Tinubu. I'm out of here

I agree with you. The only government Nigerians can trust is Peter Obi's government. That's why we are still fighting in court.

seunmsg:


It is still valued in dollars and paid for in Naira equivalent. Crude oil is not valued in Naira. NNPC will sell crude oil to Dangote in Naira equivalent of the international price in dollar.

And you think it makes any economic sense?

seunmsg:


It is still valued in dollars and paid for in Naira equivalent. Crude oil is not valued in Naira. NNPC will sell crude oil to Dangote in Naira equivalent of the international price in dollar.

Valuation is not the issue. Crude oil is a natural resource and nnpc can choose to value it as they see fit be it at international rate or as a free gift of nature. That's not the point. The point is to free the downstream oil sector from dependence on FX and it's attendant effect on the cost of refining as well as to insulate us from the shocks of oil price and FX fluctuations.

Asswipemod:


And you think it makes any economic sense?

It makes a lot of sense since Dangote will sell to Nigerians in Naira. Again, that’s the only way to save forex.

seunmsg:


It makes a lot of sense since Dangote will sell to Nigerians in Naira. Again, that’s the only way to save forex.

🥺Hmmmm

Zxcvbnmghtr:
So what difference will it make apologizing? Some people just like making unnecessary noise. Almost 95% of Nigerians were against the removal of the subsidy in 2012 simply because we did not trust the government of the day.

Your mouth is too wide. You can't even accept your flaws due to pride. You & your cohorts goofed & you shamelessly come nairaland come yarn. Wish I could see you to SLAP.