It is not his fault that oil prices are dropping, but then- we all saw it coming and if this is the best plan he had in mind all this while, it simply shows him and his cabinet's lack of foresight.. He must GO!

Collynzo9:
I don't think this will lead to an increase in the cost of fuel as some people are saying.
Crude oil prices have fallen, our cost of importing petroleum products will fall along with it, the cost of subsidisng those products have no choice but to fall too.

Are you a Nigerian=?
Do you live in Nigeria=?
If yes, then you shld have known by now, that the Law of gravity don't work in Nigeria. Its always what goes up will remain up and keep rising up from generations to generations.

berem:
Meaning the price of a litre of fuel will increase? Please he should give Nigerians the surprise package in January as he did two years ago while he will be massively voted out in February 2015.

Politically brainless! All your interest lies in your pay masters filling the post which isn't even vacant.
Now, what will they do differently?


Back to op, so we're going to buy fuel at about 150per litre while some idiots fill their pockets? That's nasty!

APContherun:

The govt has no business running those buinesses, the best is to create an environment conducive and favourable for the private sector to invest and you know that won't happen in a regulated and subidized economy. That's the simple truth. I have been against subsidy even right from OBJ time, it doesn't help the economy grow and as we know it has bocome a conduit pipe for corruption.

what do you mean it won't work ... Please talk like you educated, if it can't work for private folks how can it work for dangote who wants to build from scratch. Has the import in fuel increased so bad for it to we avian increase in the first place. If the president cannot say no the cabals, then be should resign.the truth is there has never been any subsidy. It is the usual word put up to loot funds.

Too much intake of sapele water has derail the reasoning of the man from Otuoke

jaybiz007:
Fresh fart air. About time this clueless otuoke fisherman is sent back to the creeks.

.


Realistically, whoever becomes president will do same. I do respeft GEJ, only a courageous man will say stuffs like this 3months to elections, I think he really wanna do well. The APC will promise heaven and hell until they get in

berem:
Meaning the price of a litre of fuel will increase? Please he should give Nigerians the surprise package in January as he did two years ago while he will be massively voted out in February 2015.

I wish he can do this before the presidential elections. It would only confirm buhari's victory.

cramjones:
Is this not the GEJ that caused an occupy Nigeria? Is he not the one that paid billions of $$ to cronies in the name of subsidy and increased subsidy 10x? If I did not know GEJ, looking at this picture I will think he suffers from Downs or Edward's syndrome. The word clueless falls short in describing this picture. This was a picture taken on his birthday yesterday, and the picture shows you that the leader of Nigeria is indeed clueless. Is this the person that wants to rule Nigeria beyond 2015 (that is if Nigeria still exists)? His face tells it all. Fellows be wise, desist from voting a retard in power!

-CramJones

Cronies? Unsubstantiated lies; you're older that this.

signz:
We've been expecting it. I don't know if this is true but I heard that it's illegal to operate a mini modular refinery in nigeria. If true, that law should be repealed immediately and people can get licences to build import/build mini modular refineries. We can't afford to wait till Dangote finishes his refinery in 2018.

I'm not sure why people express opinions like this one above, but it drives me nuts. Do you even know ANYTHING about the process they use for these illegal refineries? Do you know how they get the stolen crude they use?



Do you have any idea how hazardous it is to refine crude in this manner? How damaging it is to the environment? The damage to the workers? The people that die in the process? The massive oil leaks that result from this process?



There's a reason why standard refineries are very expensive to build, and require a focus on safety to run successfully.
Please NEVER try to short-circuit good things...that always leads to disaster.

Austerity measures in gear 1

The taskmaster is at his best decision again for the masses!

Oil prices have dropped by about 30%
Price of PMS has also dropped in countries were we import from therefore subsidy paid since the decline of oil prices should have also dropped since the price of PMS has stayed the same in Nigeria.

IBROHIM:
why are we like this? We are supposed to be smarter than this! Is subsidy illegal? Why not sanitise the subsidy regime and make sure money is released to only genuine importers? Why give money to thieves and come back to ask the masses to pay? Who controls the agencies responsible for the verification? How many oil producing nations don't subsidise their products? Why is the government acting saint now that money is dropping! If they had increased the refining capacity, we would have been making money from refined products by now! Why do you defend what is not defendable!

he is the regular folk that needs slaps to bring his senses back.

cramjones:
Is this not the GEJ that caused an occupy Nigeria? Is he not the one that paid billions of $$ to cronies in the name of subsidy and increased subsidy 10x? If I did not know GEJ, looking at this picture I will think he suffers from Downs or Edward's syndrome. The word clueless falls short in describing this picture. This was a picture taken on his birthday yesterday, and the picture shows you that the leader of Nigeria is indeed clueless. Is this the person that wants to rule Nigeria beyond 2015 (that is if Nigeria still exists)? His face tells it all. Fellows be wise, desist from voting a retard in power!

-CramJones

Don't you think you are the slowpoke? Why leave the substance of the message to crucify the messenger even when the messenger has good intents and seems far better than you;his critic...

I believe my God will intervane

Collynzo9:

If oil price is falling, isn't out cost of importing its refined products and subsidising them supposed to fall too?
I wonder the kind of schools you guys went to.
The prices of petrol will remain the same.

Using insults as a means to express your feelings............ Smh

THUNDER4real:
Give me a better choice and dat person has my vote.

You know the RIGHT CHOICE, but sentiment and hypocrisy has clouded your reasoning. You are more dangerous than evil itself.I pity those people, who bank on you as an ADVISER.

Collynzo9:
I don't think this will lead to an increase in the cost of fuel as some people are saying.
Crude oil prices have fallen, our cost of importing petroleum products will fall along with it, the cost of subsidisng those products have no choice but to fall too.

cost of import goes up. The Nara is falling against the dollar. It don't work the way you thinking. It is inversely proportional.

The reason why politicians continue to trample on Nigerians is that many (if not most) of us are incredibly daft! You complain when you are not supposed to and keep quiet when you are supposed to be complaining.

Let us say we and other oil exporting countries were exporting crude oil at 5000 Naira per barrel and we import back its refined products like Petrol for N150 per litre and the government spends N50 to subsidize each litter of petrol to N100, then crude oil prices suddenly crashed, we now export at 4000 Naira per barrel and import petrol at N125 per litre, should the government be spending the same N50 to subsidize a litre to N100?

Can you now see that the President is cutting off an avenue for easy siphoning of billions of Naira? I say ''easy'' because it seems most of you would never have figured it out.
SMDH!

My Cunfused country, I hail thee.

my pple in as much as I dnt wnt GEJ to come back in 2015, pls removing subsidy will benefit all of us on the long run,
but this timing is too short, they should just make it middle of 2015. from now till then, enlightenment should go on around the whole country, from jingle to advert on newspaper, for we the masses to know better, on the immediate effect and the long term gain of the removal. nw just for them to wake up this morning and tell us they will remove it tomoro.

it totally a misplace priority.

Dis clueless president again looking 4 a cheap way to get funds for campaign. . .gosh.There was a country.

I think if subsidy will be completely removed then we should have nothing to fear because of the fall in pricing of Crude in the world market,but that I know can never happen . Kerosene is subsidized,petrol is not completely subsidized,diesel for a long whle is no longer subsidized , for diesel we are been made to understand that it goes hand in hand with the world market price so if there is a rise in Oil pricing diesel retail price soars but now there is a continous decline and no agency or Oil marketer has made any move to reduce price of diesel ...so with decline of crude pricing,removal of subsidy we should expect reduction of petroleum pump price ! Afterall when market forces are in good play price falls ... aπϑ literally we should expect thesame fall in our local pump price . Except there is more theories that we should expect τ̲̅ȍ get from our govt !

Lurcky:


Guy you won't understand what's going on.
Let the subsidy be removed so there will be absolutely no excuse for looting or any corrupt practices in the govt system.

If you read well and understand more you will see that the money spent on this subsidy of a thing is enough to create jobs for a million people fairly.

that's not the way to curb corruption. If you can't say NO to the cabals , then be sure they will device another means. If you take what a thief steals , won't he find something else to steal. Can't you think. Is it not best the thief is brought to justice. Why does this government treat theft like it is no crime.

Nobleval:
An oil producing giant talking about fuel subsidy whilst others are talking about refineries! Shame! This is the height of insanity.

. God bless you my brother! I keep saying one thing, if not for the insanity of our leaders (pardon me pls na anger) we are supposed to have hundreds of refineries in this country for the sole purpose of job creation and employment generation! The excess over local consumption would be sold in to African countries without oil thereby earning revenue and strengthening our naira!

Fuel subsidy removal,Devalution of Naira,Tax increament,PHCN tariff increament,Kerosene subsidy removal & VAT increament in a country where minimum wage is 18000naira.I hope those supporting this knows the implication. Why is the refinery not fixed since all this days ? OH LORD HEAL OUR LAND AND GIVE US GOD FEARING LEADERS. IJN

majekdom2:
cost of import goes up. The Nara is falling against the dollar. It don't work the way you thinking. It is inversely proportional.

The cost of importing it has not gone up, it went down along with the falling oil prices.
The fall of Naira is much smaller than the fall on oil prices.

legendsilver:

Are you a Nigerian=?
Do you live in Nigeria=?
If yes, then you shld have known by now, that the Law of gravity don't work in Nigeria. Its always what goes up will remain up and keep rising up from generations to generations.

if what you said is true...how come recently the price of cement is coming down?

APContherun:
People who ask what the govt is doing about fighting corruption needs to understand that the best and sure way to do so is block all avenues that lead to corruption. Cutting fuel subsidy is a sure way to reduce corruption in that sector, it may hurt in the short run but eventually everything will balance out.
But as has been said the President must have to carry the labour unions and civil society organisations along in the implementation of this policy but I doubt the unions will see reasons for it and it will be 1st Jan 2012 all over again.

you know nothing about fuel subsidy. Have you bothered to ask how much it costs to build a refinery? If truly we must go with the assertion that public owned investment and properties are not properly maintained and managed, my question is what prevents the govt from building refineries and selling them off to private investors who can manage them efficiently? Or does it take a century to build one? Why is everything about us so different? GEJ is not the messiah u think he's.

Jona na wa o. You can't earn my vote again o.

IBROHIM:
so to you now Jonathan is not among your idea of they!

you listening to him, low mentality. A boss knows people steal under him and he can't bring them to order. Is he not because he is part of them.

legendsilver:

Are you a Nigerian=?
Do you live in Nigeria=?
If yes, then you shld have known by now, that the Law of gravity don't work in Nigeria. Its always what goes up will remain up and keep rising up from generations to generations.

That is your opinion.