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Nairaland Forum / Nairaland / General / Politics / President Seeks To Cut Fuel Subsidies After Oil Decline (38002 Views)
The Economist On Naija Fuel Subsidies / Ghana Cuts Fuel Subsidies, Fuel Rises To N184 Per Litre / Okonjo-iweala Announces Fuel Subsidies Will Be Removed - GEJ Please Sack Her Now (2) (3) (4)
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Re: President Seeks To Cut Fuel Subsidies After Oil Decline by major466(m): 9:57am On Nov 21, 2014 |
majekdom2:Am sure the Finance Ministry in conjunction with the Budget Office will work out an amicable solution to the high recurrent expenditure in next year's budget. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Whynotthetruth(m): 9:58am On Nov 21, 2014 |
sevule: What is this one saying ![]() 1 Like |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 9:59am On Nov 21, 2014 |
Whynotthetruth:why don't they pass the bill first before removal of subsidy. Bro , it is not because the government has got a say in this industry , it is because of some of laws in the PIB will not favor international investment. You can read up on this. Investors are afraid because they do not know what the future will be if the PIb is passed not because the sector is controlled by the government. After all, I can't just give a price for my products if I have not even built a refinery. The main issue is passage of this Bill first to encourage investors. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:07am On Nov 21, 2014 |
Collynzo9:these countries you mentioning don't export crude , rather they buy and export refined products.US is a leading producer of crude , they rank above nigeria , yet they still buy our crude. This is to tell you why there is a fall in their product price.The consumption should be double or Tripple of nigeria.am only correcting that notion that import has got to fall.period. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:09am On Nov 21, 2014 |
major466:oh , I sense you are in the govt. that's the usual defense. Once this is done transparently, I dont mean paper talk.we can embrace subsidy removal. Just as amosu slashed salaries and we saw the projects. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Collynzo9: 10:10am On Nov 21, 2014 |
majekdom2:It is a fact and not a notion that the price of importing refined petroleum products has to fall along with the price of crude oil. It is basic. The price of the refined products is a function of the price the crude oil was bought. 2 Likes |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Whynotthetruth(m): 10:13am On Nov 21, 2014 |
majekdom2: Bro, you seem confused here...how can the investor be confused in a free market economy...where prices are determined by market mechanism (forces of demand & supply)...investor is waiting to be sure the PIB is passed before investing...where did you read that your postulation ![]() ![]() ![]() ![]() 2 Likes |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by 1025: 10:14am On Nov 21, 2014 |
bushdoc9919: what will happen if u remove it? this is one project every nigerian is benefiting from. we run the most expensive democracy in the world yet no one is talking about that. we have the most corrupt idiots in power and no one is going to jail. even if they remove it, we will not die but nothing will still improve here. will the money be enough for the first family to feed? a president that eats N1B worth of food annually can never take nigeria anywhere. it is just a business of making more money for a future that may not come for these politicians. very soon, God will destroy this fuel and we will have peace of mind. 1 Like |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by s4short: 10:20am On Nov 21, 2014 |
majekdom2: you're the one that needs a slap, he is on point. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Stylz69(m): 10:26am On Nov 21, 2014 |
What fuel subsidy? If the price of crude is falling then the price of fuel and diesel should fall as well. Why aren't we seeing a fall in the price of diesel which is fully deregulated? Secondly, we should also see a fall in the cost of fuel, assuming there is a subsidy then we should hear an announcement that the government will be spending less on subsidy than before due to the fall in prices. What we shouldn't be hearing is an increase in fuel prices due to the removal of subsidy!!!! Simple economics 4 Likes 1 Share |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by yetunsbay(m): 10:27am On Nov 21, 2014 |
idupaul:sharp fish 1 Like |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by okeke00(m): 10:29am On Nov 21, 2014 |
APContherun:you really reason like europeans. Our major problem in Nigeria is illitracy |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Olufemiolaolu(m): 10:30am On Nov 21, 2014 |
APContherun:Is like u re part of d govt, dat is y u re talking unreasonably. what has gej done with d 2012 cut of subsidy? it ll surely inflate d prices of goods & services, dat is what Nigerians re afraid of. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by deebrain(m): 10:33am On Nov 21, 2014 |
Someone should help me explain this thing. When this "crude oil price" thing goes to our favour, why don't we see or enjoy some kind of benefit? When it goes against us, we start preparing for issues. Kai! No wonder bible say make we no trust man. I remember 2011 elections. I voted our dear president. And i was ready to defend it (i remember how many of us, many old and young people, ate breakfast and lunch in the place we voted just to wait for the ballots to be counted). The only benefit im seeing of this government is on TV adverts, economic statistics and probably freedom of speech. Is that all about democratic government? For almost 15 years now, we are still saying the same thing! |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Tonycart: 10:33am On Nov 21, 2014 |
What happened to phch privatisation. What happened to 20billion dollars that is missing |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:35am On Nov 21, 2014 |
[size=18pt]Because price of fuel would be significantly reduced due to much lower oil prices, then just by keeping fuel price the same would mean that any subsidy that had been applied would have effectively removed by the lowered cost of fuel production. It may even be in order to reduce the price of fuel further to reflect lowered cost of production We know that fuel subsidy is a scam which started after the covert assassination of Abacha. You cannot remove subsidy that you never applied to start with.[/size] 2 Likes 1 Share |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:49am On Nov 21, 2014 |
s4short:the truth is in the coming months there is supposed to be a fall in the price of fuel. The government are just trying to cover up fraud. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:53am On Nov 21, 2014 |
[/b] Whynotthetruth: Bro, you seem confused here...how can the investor be confused in a free market economy...where prices are determined by market mechanism (forces of demand & supply)...[b]investor is waiting to be sure the PIB is passed before investing...where did you read that your postulation ![]() ![]() ![]() ![]() 1 Like |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by KLand(m): 10:54am On Nov 21, 2014 |
Subsidy should be completely removed. The masses aren't seeing the benefits. It is a conduit for enriching the rich. So enough of it. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Nobody: 10:57am On Nov 21, 2014 |
Collynzo9:yea, it will come down in coming months. Like you said it is a function of what crude was bought. The price of the crude refined for the current product is what should be checked.... And this has been my point. You would not want to sell to make loss. In Kenya ,the prices are down already. Perhaps , the reverse was their case |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by popcykaylah(m): 11:00am On Nov 21, 2014 |
praise God baba clueless has dropped the bombshell again..atleast when we have an increase in fuel price those morons saying gej till year 3000 wont be able to afford fuel to fill their I pass my Neigbour generator to charge their china phones and yarn nonsense.. |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Tokunbohkinibig: 11:01am On Nov 21, 2014 |
APContherun: Can you tell me what clueless means pls? You are as clueless as your paymaster. Before d last subsidy was removed, i watched Ngozi iwela live on TV saying everything ll be fine after d subsidy must have been removed but what did Nigerians got in return from these animals are nothing but youth unemployment, poverty, terrorism,nepotism, massive corruption, lawlessness, tribal and religious division from all these animals in human skins. 3 Likes |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by IBROHIM: 11:02am On Nov 21, 2014 |
majekdom2:Oga how many oil producing nations import refined products? Answer o! |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by emmahoney(m): 11:13am On Nov 21, 2014 |
I'm not a critic of this present administration before, but now that the hand written is fully inscribed on the wall I would be. GEJ is a joker, an unscrupulous leader, greedy man, insincere man, a deceitful country man etc. Must masses bear the consequences of the fall in the price of oil? What happened to the promised he made that all gov. Officials salary would be reduced by 25cent?. Oh!! this man remains clueless as he has been. Who would save Nigeria from this mess?I see no one!! What a pity? |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Bloggz74(m): 11:29am On Nov 21, 2014 |
Here we go,,,,,,,b prepared! |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by bunmit(m): 11:30am On Nov 21, 2014 |
We r not saying dey shd not cut d subsidy, but wat ve dey achieved with d one dey removed in 2012, lets see d impart of dat before telling us cut d subsidy for some set of pple to embezzle again |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by GogetterMD(m): 11:38am On Nov 21, 2014 |
major466:Please enlighten me on who then has been charged to court, and the whereabouts of the "recovered" subsidy funds |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by yerokunphilips: 11:51am On Nov 21, 2014 |
I love GEJ as a person , but is leadership style i dislike . Sure P is sure failure , Naira now is around #170 to a dollar , new traffic on power by January . I HOPE BY 30th May 2015 he was a president . |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by Remii(m): 11:58am On Nov 21, 2014 |
Sebi the all wise all knowing okonjo iweala said austerity measures will not not affect the poor masses. Story for the marines, lol. Second base jare. #RemoveRoundaboutonLekkiRoad |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by kccarew(f): 12:10pm On Nov 21, 2014 |
We Are Waiting! |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by ayindejimmy(m): 12:17pm On Nov 21, 2014 |
APContherun:I failed to grasp the logic behind your comments. Are you saying the only way I can prevent thieves from stealing my family's income is to reduce the amount of money I spend in maintaining my family? I shouldn't bother catching the thieves at all? 2 Likes |
Re: President Seeks To Cut Fuel Subsidies After Oil Decline by muh4lyf(m): 12:17pm On Nov 21, 2014 |
That's the problem I have with this country. The government steal instead of developing other sectors of the economy,the fuel price fall because of their inefficiencies,the people are the ones to pay for their failure,later some people would be like GEJ 2015. When fuel subsidy is removed are the GEJ supporters excluded from paying high price,maybe in your dreams... 2015 it'd be pay back time,by fire by force you GEJ is goin back to your OTUOKE... 1 Like |
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