OrlandoOwoh:
When this marketers import fuel, they and the government make it look as if we don't export crude. Why should we even pay as much as 87 naira. Muhammdu Buhari has just given us a simple logic on fuel import. Look at this scenerio: I'm a cassava farmer that like garri but don't know how to make it from my cassava. I give my cassava to the woman that fries garri, why should I pay as much as the person that doesn't plant cassava before I eat garri? I could agree, base on the quantinty of cassava I'm ready to give to the garri frier, to pay her little money for the garri or nothing at all (after exchange of much cassava in a trade by barter manner).

gohome:
Question



Answer

[b]Nigeria can no longer afford to pay subsidy on petroleum products full stop. Corruption or no corruption we do not have the money to pay. You have to let it sink in your head. We have an infrastructural decay that will take 200 billion dollars to fix, you have annual 'deficit' budget of less than 20 billion dollars of which 40 percent is used to fund lazy states and you want to continue to spend 25% of your the remaining budget to subsidize PMS?

Hope the anology below helps

You are the head of your house, and you have an annual budget of 100 naira. Rent in a dilapidated house is 20 Naira. School fees is 20 Naira. Transportation to work and school is 30 Naira. Fueling your generator is 30 Naira. Let say you want to start up a new business to increase your income and as such you need to save 20 Naira. You also need to move from your present apartment because the ceiling leaks water any time it rains, which will require you save an extra 10 Naira. You took a loan from the bank, and the monthly deduction is 10 Naira. You have relations that cannot run their family and they have come asking for money because the landlord is about to evict them from the house. In the middle of all these, Something happened and your annual budget is reduced to 50 Naira. Will you keep paying for fuel to light up your house while you cannot pay rent and your kids can not go to school?

Before you critic always put yourself in a leadership position and provide practical solution
[/b]

Yomieluv:
If subsidy is true,why is the government afraid to remove it?

And what are the benefits of subsidy removal?

omenka:
Interesting!

I have just a few questions.


1). How much were previous administrations paying for subsidy??


2). How much did Jonathan pay on assumption of duty as the president and in subsequent years as president??


3). What necessitated the geometric increase in the expenditure on subsidy soon after Jonathan took over?? It was about 300billion on the budget but burgeoned to nearly 2trillion at the end of the fiscal year. Was there a corresponding increase in the demand of products to have warranted such increase in "supply"?? Did Nigeria get thirstier for petroleum products??


4). Was there any supplementary budget passed by the NASS to accommodate the increase as stated in #3??


5). There were about 40 importers of products prior to Jonathan's regime. After he took over, the list went over the roof to about 150!! What was the reason behind this??


#waiting.

Cc: gohome.

SenseiX:

A parliamentary committee last year found that the subsidy system, with its ever-increasing number of importers licensed by the government, was “fraught with endemic corruption and entrenched inefficiency. Much of the amount claimed to have been paid as subsidy was actually not for consumed” fuel, the committee found.

omenka:
Interesting!

I have just a few questions.


1). How much were previous administrations paying for subsidy??


2). How much did Jonathan pay on assumption of duty as the president and in subsequent years as president??


3). What necessitated the geometric increase in the expenditure on subsidy soon after Jonathan took over?? It was about 300billion on the budget but burgeoned to nearly 2trillion at the end of the fiscal year. Was there a corresponding increase in the demand of products to have warranted such increase in "supply"?? Did Nigeria get thirstier for petroleum products??


4). Was there any supplementary budget passed by the NASS to accommodate the increase as stated in #3??


5). There were about 40 importers of products prior to Jonathan's regime. After he took over, the list went over the roof to about 150!! What was the reason behind this??


#waiting.

Cc: gohome.

gohome:


Answer

[b]The subsidy issue is not shrouded in mystery. You have chosen to be ignorant. The average price of PMS around the world is about 1.1 dollars per liter. That's 220 Naira per liter. Poorer countries pay this. We produce 2.2 million barrels per day, rich countries like Russia US, China, India UK Brazil that produces up to 5 times more oil than we do pay this. Poorer countries like Haiti Angola Gabon also pay this. Even poorer and remote villages in Nigeria, burutu Nembe, mambila pay 200 plus for a liter. So what is the problem with it all gone? I'm 2012, sanusi and Iwealla with Allison went round TV stations explaining the steps to fully deregulate the downstream sector, no one listened. 65 Naira or nothing was the chant. I remember when Sanusi said the best way to put a fire out is to eliminate the source of the fire.

It was shame that GEJ and his ministers did not have the political tenacity to completely do way with this fire. Buhari seems to have it. He will remove it, fuel will sell at 180-220 per liter[/b]

omenka:
Interesting!

I have just a few questions.


1). How much were previous administrations paying for subsidy??


2). How much did Jonathan pay on assumption of duty as the president and in subsequent years as president??


3). What necessitated the geometric increase in the expenditure on subsidy soon after Jonathan took over?? It was about 300billion on the budget but burgeoned to nearly 2trillion at the end of the fiscal year. Was there a corresponding increase in the demand of products to have warranted such increase in "supply"?? Did Nigeria get thirstier for petroleum products??


4). Was there any supplementary budget passed by the NASS to accommodate the increase as stated in #3??


5). There were about 40 importers of products prior to Jonathan's regime. After he took over, the list went over the roof to about 150!! What was the reason behind this??


#waiting.

Cc: gohome.

bandely:
I see some folks hammering it that they told the rest of
Nigeria that "subsidy" should have been totally removed in
2012.
Well, I (and I know a lot of people too) supported the "non-
removal of subsidy" then on the grounds that:
1. Technically, they may not have been anything called
subsidy, as GMB reiterates in his recent interview with Daily
Trust. Rather, what we might have had were loopholes for
people who were hell-bent of running the country aground.
Suffice to say the "subsidy" may have been a facade
2. The second and most important one is that, even if there
is subsidy, the government of the day (2012) cannot be
trusted with the money realized from total removal of
subsidy, due to the perceived gargantuan corruption and
misappropriation that went unabated in the administration.
[s]The logic was, we know they are going to steal it, then let's
have it in whatever manner instead.
I make bold to say it was the best decision to take as at then, and I'd gladly support it again (given the same
circumstance), afterall, in the end, the GEJ administration
did not act contrary to our belief that the money would
"disappeared" via corrupt means as witnessed with SURE-P
fund, the CBN-NNPC $20Billion among others.
However, an opportunity presents itself for GMB to t[/s]otally
remove the subsidy, if at all the scheme exists! Nigerians
won't complain much this time, afterall, they've bought it
already this week for around 500naira per litre.

gohome:


Answer

[b]The subsidy issue is not shrouded in mystery. You have chosen to be ignorant. The average price of PMS around the world is about 1.1 dollars per liter. That's 220 Naira per liter. Poorer countries pay this. We produce 2.2 million barrels per day, rich countries like Russia US, China, India UK Brazil that produces up to 5 times more oil than we do pay this. Poorer countries like Haiti Angola Gabon also pay this. Even poorer and remote villages in Nigeria, burutu Nembe, mambila pay 200 plus for a liter. So what is the problem with it all gone? I'm 2012, sanusi and Iwealla with Allison went round TV stations explaining the steps to fully deregulate the downstream sector, no one listened. 65 Naira or nothing was the chant. I remember when Sanusi said the best way to put a fire out is to eliminate the source of the fire.

It was shame that GEJ and his ministers did not have the political tenacity to completely do way with this fire. Buhari seems to have it. He will remove it, fuel will sell at 180-220 per liter[/b]

gen2briz:
Please who are the oil marketers they're paying this subsidy to?

gohome:


Answer

[b]The subsidy issue is not shrouded in mystery. You have chosen to be ignorant. The average price of PMS around the world is about 1.1 dollars per liter. That's 220 Naira per liter. Poorer countries pay this. We produce 2.2 million barrels per day, rich countries like Russia US, China, India UK Brazil that produces up to 5 times more oil than we do pay this. Poorer countries like Haiti Angola Gabon also pay this. Even poorer and remote villages in Nigeria, burutu Nembe, mambila pay 200 plus for a liter. So what is the problem with it all gone? I'm 2012, sanusi and Iwealla with Allison went round TV stations explaining the steps to fully deregulate the downstream sector, no one listened. 65 Naira or nothing was the chant. I remember when Sanusi said the best way to put a fire out is to eliminate the source of the fire.

It was shame that GEJ and his ministers did not have the political tenacity to completely do way with this fire. Buhari seems to have it. He will remove it, fuel will sell at 180-220 per liter[/b]

kinibigdeal:




Your comment are too loopsided. The fact that you said you were against it in 2012 due to your unfounded fact speaks alot about your personality and you supporting it now enapse my conclusion. The protest against subsidy in 2012 was highly political and not for the interest of the nation, the calculation was to render this present administration ungovernable in lieu of their interest in 2015 which really work for them perfectly. Majority of the policy GEJ administration had then was strongly opposed through press and whatever platform because of their political calculation of 2015. The effect was, the more you oppose a beneficial policy, the more the aesthetic decay compiled and remain unsolved. Now the consequence of their unfounded critics is what they want to carry now which is almost impossible to solve in 8years. The problem we have as a nation is that our critics are never issue based but political gain