gohome:


Pocket money and you cannot pay school fees? You simply cannot fix your roof with no cost. Unless you are a magician. New York City is a city with massive infrastructure but needs 15 million to run it. You want to use 4 Trillion to run a country that not only have a population 20 times bigger than NYC but also a country that has a military immigration customs, etc. smh. My brother you simply can not fix your roof at no cost. Nigeria at this rate can not fix its roof at with even 100 trillion Naira. You want to buy a roll Royce or a Ferrari for a price of Toyota. Keeping dreaming. Give them pocket money and let them no go to school. You will even pray they are prostitute. Your kids will be Boko Haram.

Unlocking new potential is the only way. We have not be able to unlock new potential because of mismanagement. The major mismanagement is the payment of subsidy. Removal of PMS subsidy won't not affect anybody. Instead it will drive a boom in that sector. You can unlock 200K jobs and 5 million indirect Jobs in the first 3 years. Do you know the savings in foreign exchange? It's going to be 2 billion dollars a year. Exportation of pet products will earn us 1 billion a year. In all the government will home to add another 2 trillion to its budget. Which of course is not enough but a step forward not backwards.

You are actually making deep sacrifice by allowing your government to pay for something you can afford. Your government has devalued your naira by 25%. You are paying for petroleum at a price 25% more. Don't be deceived. It is an illusion that removal of PMS will kill is. It won't.

In the next four years, always look at your budget. Most Nigerians don't care about budget, but will want to have fantastic airports, power, refinery and roads. I laugh. Are we going to see 15 Trillion Naira in our budget after fighting corruption? We have to know.

Toby77:


Your basic argument doesn't add up. Bihari won't be as stupid as to attempt the outright removal of subsidy. It's a phased removal, a genuine one at that not the fake one done by Jonathan or said to be done by him. A phased removal coupled with the gradual building of refineries and the revitalisation of the old refineries. Outright removal would just play into the Cabal hands.

gohome:


OBJ has proved that phase removed does not help. He did it for 8 years, it did not work. Do you know how many firms he gave licences to build refinery, Over 18 people. None built a pin. Jonathan phased removed subsidy for 4 years, it did not work. The only thing that worked was Dangote commencing to build one. I heard it will be ready by 2016. Do you have a picture to show the progress. 16 years of wealth of experience for Buhari to tap. He should learn. How will Buhari magically do that is what beats me. Thankfully Dangote has been able to start one. Heard it will ready by 2016. Can any body post a picture of the progress of the refinery? Also, having a refinery even with access to free crude, will not bring the price down. Dangote will sell at international market price, if not more. If you force him to bring down his price, he will sell to Togo, Chad, Ghana or any other country willing to buy. Investors in is company with not take crap. They have invested, they shall reap like their global competitors.

revitalisation of the old refineries is not possible. Ask OBJ how much he sinked doing that. Can the Nigerian government maintain anything? The kind of government workers I know needs to be all sacked and new people brought in. Nigerian government workers to do not have the capacity. They are not well trained, not well motivated, Do not have the required skills.

Keep thinking for Buhari. He has granted tons of interview, has he told us how he will fix this mess? No. So we can only wait and see.

trillville:



Please as ridiculous as this statement may sound, stop using figures to make any case for or against the removal of subsidies because we have no idea how much Nigeria's total earnings is. If I have no knowledge of the amount of money I have, how do you expect me to properly budget?

Subsidies may have to be removed at some point, but a perception that the government is fighting corruption needs to be created first and also a reduction in the cost of governance before any sensible government should consider removing subsidy.

This may not be the logical way to go based on our economic situation, but it is the political solution to our crisis. Please read Ben Bruce's advice to Buhari.


What evidence other rhetoric repeated by politicians that the removal of subsidy will lead to companies building refineries in Nigeria.

Are you aware that there is a glut in refining capacity on earth as at now?

By the way, a friend may offer to patch my roof for me at no cost to me.

Toby77:


Obj wasn't sincere. It's as simple as that. Finish. No long stories about that. A phased subsidy removal will work if there is no corruption. You also mentioned Jonathan, Jonathan was even less sincere than Obj was, Jonathan makes OBJ look like a saint. The TAM of the existing refineries were never done despite the monies allegedly sunk into them. It's all lies. We need a government that demonstrates a zero tolerance policy towards corruption and ensures that money budgeted for infrastructure is actually used for the said infrastructure. If that disposition comes, and I believe it would with Bihari, gradually improving our domestic refining capacity can start while a phased removal is gradually implemented. That is still the best solution out of this massive problem

I like your approach. trust is a good way to start. Let us see what his policies are. Buhari has said so many things, but none has been said about the solution to the downstream sector. None to my hearing. Will he fix the refinery? Will be build new once? What capacity will we refine in Nigeria? Will he stop subsidy? Will he phase it.

What are the timelines. Till infinity? What are the cost? Where will the money come from. These are basic project management questions.

I have heard no answer to the question. Wishing and acting are to different things. You can talk the talk, but how will you walk the walk. It is easy to critic GEJ and OBJ. This is your best solution, it is not mine. My best solution is to get the cancer out. I dont believe in romancing problems. PMS removal would not kill us. No one has prove why the good and services should go up. If you do not pay for the removal of subsidy by buying PMS just like 90% of countires around the world, you will pay for it by a devalued Naira.

1. How many time do you want me to tell you the reason they refused to load? Can someone in this forum tell this guy the read my comments. Mr, have you read the reasons I gave you.

2. If you can't understand me or read my comments, why should I keep posting. I will do others a favor to give post my proposed solution to price fixing is to pass laws punishing severely price fixing. If you work for an American company and you are caught sharing information and trade secrets to your competitor, it is instant dismissal. No room for cartels in the eyes of the law. The marketers should collect loan and stock their AGO in the tanks. If they don't sell, they should keep it. We will buy from Togo. Our planes will fly to Ghana to refuel.
Prominent Price Fixing Examples
Air Travel

In August 2007 British Airways was fined £121.5 million for price fixing. The fine was imposed after BA admitted to the price fixing of fuel surcharges on long haul flights . The allegation first came to light in 2006 when Virgin Atlantic reported the events to the authorities after it found staff members from BA and Virgin Atlantic were colluding. Virgin Atlantic has since been granted immunity by both the Office of Fair Trading and the United States Department of Justice who have been investigating the allegations since June 2006. The US Department of Justice later announced that it would fine British Airways $300 million (£148 million) for price fixing. BA maintained that fuel surcharges were "a legitimate way of recovering costs. "

Beer

In April 2007 the European commission fined Heineken €219.3m, Grolsch €31.65m and Bavaria €22.85m for operating a price fixing cartel in Holland, totalling €273.7m (InBev, another brewer, was convicted for price fixing but escaped punishment) . The brewers controlled 80% of the Dutch market, with Heineken claiming 50% and the two others 15% each. Neelie Kroes said she was "very disappointed" that the collusion took place at the very highest (boardroom) level. She added, Heineken, Grolsch, InBev and Bavaria tried to cover their tracks by using code names and abbreviations for secret meetings to carve up the market for beer sold to supermarkets, hotels, restaurants and cafes. The price fixing extended to cheaper own-brand labels and rebates for bars.



Source: Boundless. “Price Fixing.” Boundless Marketing. Boundless, 14 Nov. 2014.

To be honest, I am tired of your post. It's a big shame you do not know the effects of a devalued Naira. 18000 Naira today is less than 18000 minimum wage is this time last year. It has lost its value by 25%. It means if you continue to put subsidy on your budget, you will of course continue to run deficit, which will in turn weaken your currency, and then further reduce your 18000. So who loses, the masses.

You seems to be a marketer or paid agents, that why you are hell bent on distorting reality. Don't mortgage people's children's life because of the fraud subsidy. It must go.

Lastly, if you think we are incapable of running a free market in Nigeria, especially in the oil sector like every other countries (95% countries) the Nigerian spirit will prove you wrong.

ohzee:
[/color]

TheGoodJoe:
I saw the caption of the Federal Government telling marketers not to sell above N87 and I laughed. These are the same people that want the same marketers to control the market.

The same marketers GEJ said scammed him.

gohome:


170 m are the number of children you have, they have the potential to depend on you.

Also, we have a messiah. Let's see what your uninfluenced budget will be. Then we will see the definite or surplus

Please esplain futher, I do not understand this question.

I will put an answer, tell me if this helps

1. Because the sector is not fully deregulated. The money these marketers get from PMS, they can afford to sell diesel to you at any price. You are lucky. If the sector is fully deregulated, you may buy diesel at 180 Naira per liter

4. I also believe the reason why diesel was scarce last week is because marketers refused to lift. diesel boggle everywhere

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.

989900:
[s]I am sorry my post are always long, but it's just plain difficult to find short cuts getting the points across effectively with this oil thing.[/s]



Buhari:

What was the reaction of party leaders when you said that?

"Well, how can they react to what is a proper way of doing things? I can have my individual opinion about the people who will occupy the offices. I know that some people imposed the leadership of the National Assembly and it didn’t work well for them, so I shouldn’t be making the same mistake.
One burning issue is fuel subsidy. I believe you are aware of the queues in major cities like Lagos and Abuja. The fuel importers say they are unsure of the direction of the new government in this area. Have you considered maintaining or withdrawing this subsidy or are you questioning whether it didn’t exist at all?
One of the problems I have, other than the military, is the petroleum industry where I served for three and a half years under General Obasanjo. When people start talking about this subsidy I honestly get confused. I will tell you this, and I hope it will answer what you want to know. Back then we had a refinery in Port Harcourt, which was refining 30,000 barrels a day of Nigerian crude.
Later, it was upgraded to refine 100,000 barrels a day. Another refinery was built in Port Harcourt to refine 150,000 barrels per day of Nigerian crude. So, Port Harcourt alone had the capacity to refine 250,000 barrels per day of Nigerian crude.
But when I found myself as the Minister of Petroleum I set up another refinery in Warri for 100, 000 barrels per day of Nigerian crude and the Kaduna refinery a 100, 000 barrels per day. So Nigeria built capacity to refine 450,000 a day.
Four Hundred thousands of which is purely Nigerian crude, but 50,000 was imported. The type of crude could be Venezuelan, which could be a bit heavier. But the lighter ones - kerosene, aviation fuel, diesel, PMS of different grades could be produced from our crude because Nigerian crude is about the best in the world.
If you could recall, after finishing as Minister of Petroleum, I subsequently became Head of State. You remember, I appointed Professor Tam David West as the Minister of Petroleum. When we rounded up bunkers, collected their illegal jetties and allowed jetties for only big firms which were doing production and development in the country, we were shocked that we had too much fuel.
We had to begin to export 100,000 barrels per day. Don’t forget that we didn’t stop at building refineries, we built more than 20 depots during my time, from Port Harcourt to Ilorin, Makurdi, Suleija, Maiduguri and Kano. More than 3,000 pipelines were laid to connect them. A number of stations were also built to take the trailers off the road, save lives and the infrastructure on the road. It is more economical because each trailer uses fuel."
"We did all that in this country and we didn’t borrow any money as far as I know. It’s Nigerian money. From each Nigerian crude, whether Akwa Ibom, Bonny Light or whatever it is, you can work out how much products it will give you; how much petrol it will give you; how much diesel it will give you if you want to produce diesel. We could tell how much Nigerian crude cost, the cost of transportation from there to the refinery, the cost of refining, the cost of transportation to the pump stations and maybe 5 per cent go for overhead.
I can understand if Nigerians pay for those costs. But somebody is saying he is subsidizing Nigerians. Who is subsidizing who?"

But they argue that the price should not be the same in Lagos and Daura, for example?

"It has to be the same because it is the Nigerian crude.
But they consider the cost of transportation?
Why didn’t it make any difference when we were around? Why did we build the network of pipelines? Why did we build the network of depots? What can Nigerians benefit from the God-given gift of petroleum? No refinery is built unless there is an in-depth research that there is enough reserve of up to six layers to be produced."

The argument I have heard is that refineries are aged. Mostly, they are performing at less than half of their capacity…?

"You can’t defend these corrupt and incompetent people. You can’t defend them. There used to be what they call turn-around-maintenance. You close the refinery in order to overhaul and clean it. What we did: we asked our producers, we need various refined products of this type at this time when the refineries are being cleaned. Take this type of Nigerian crude and bring us the refined products.
What we don’t need, we will calculate and pay you as fees for refining and transportation. If it is more than what the crude can handle, then we take it from the treasury. But you are trying to justify all these frauds by saying the refineries are aged.
Of course, they are actually aged?
They said the refineries are aged. The pipelines are leaking. There is vandalisation. Who ordered the vandalisation?"

Does it suggest that you don’t believe in the subsidy? So, you are not going to agree to its continuation in anyway?

"I would like to be on ground and find out what really has been going wrong. Why is it that people are doing round-tripping with the Nigerian products and take money from the treasury? Some people are still in court. You know about it. So, I’m not taking anything for granted. But I will try and find out what went wrong."




TAM will cost N99B. It will take about 15-18 months. It has been started since last October, NNPC says they should be functioning at 90% + by end of 2015 to early 2016. Amakpe international refineries (12,000Barrels/day) in Akwa Ibom should be on already . . . dunno.
I've posted so much earlier about the present (May 2015) state of our refineries (Gov't), and other private ones coming on . . . the truth of the matter is, with the level of corruption and the avenue to tap into the subsidy level scheme/scam, the administrators of both government and private refineries through all means, including vandalism, have made sure it doesn't work.

Our present refineries can work and cover our needs, or almost cover our needs with proper administration.
'Modular Refineries' do not need years to be built, it can be done in months depending on the size, and you can have multiple modular refineries. And they do not cost billions in a gulp.




As we speak, we all DO NOT have the full scope of the stench that's engulfed the oil sector; in few weeks, we will know.
For example, most believe the 40 million litres of PMS, we consume actually includes those of Benin Republic, Cameroun, Niger, Togo and e.t.c, in essence we are subsidizing the consumption of PMS in those countries from our own purse. And a large portion of the crude for the finished products we even pay and subsidize, are or same stolen crude. I posted a breakdown given to the 'Punch' by NNPC earlier.
And yes, a devalued Naira hurts more than subsidy removal, but the average Nigerian does not get it.

If power can be more stable, and our refineries are working, so we do not need to import, or import just a little by special arrangements, the Naira appreciates, you do not need this present kind of subsidy/scam. And PMS will even be cheaper than the present N87/litre. The only reason we will not be paying extremely low pump prices we will be 1. to prevent trucking to neighbouring states, 2. to make sure the extra we pay acts as fuel tax, which we hope we can trust with the new president.

gohome:


Thank you for this.

Buhari did not answer my question in that article. You only answered it by half. I would not hold you responsible if something goes wrong, I would hold Buhari.

He should answer the simple project management questions and spare me history.

Realdeals:
subsidy a scam! visit this thread https://www.nairaland.com/2339465/buhari-not-use-oil-marketers

"...In the short run, we will not use the marketers for the PMS importation... we shall give all our local PMS needs that NNPC cannot refine to foreign firms to refine for us and pay them the cost of refining...
"We shall provide transport to ship crude to and from the foreign refineries and pay the cost of refining for us...I believe that will remove the subsidy fraud in the short run...
"when I give you 200,000 bpd to refine, you must give me the equivalent outputs that it will bring in kerosene, PMS, Diesel etc...
"...But in the long run, we shall encourage local refineries..."

jpphilips:


I skipped this part, did Buhari really say this? where will you get the oil to give the foreign companies to refine and at what cost?
If it is what I am thinking, you will still subsidize it same thing the cabal is doing, the only difference here is that Subsidy will be paid to NNPC not the cabal, which is good (because I want serious government control in that sector).

But my Question to Buhari (if this is really his plan) is; does NNPC have the capacity to import petroleum products for Nigerians alone?
OBJ, yaradua and Jonathan used the cabals, they cannot all be wrong.
This plan does not remove subsidy either but it shifted the beneficiary of subsidy from Cabal to NNPC, hitherto, NNPC equally benefit from subsidy for refined products, so nothing new here.

Buhari's knowledge of the industry is getting rusty, he needs some update ASAP

ohzee:
I am surprised I just stumbled on this post. Let me give an insight to how petrol supply occurs in Enugu. Enugu deregulated a long time ago. Petrol price varies from one station to another. I am not talking about during scarcity. If you want to buy at 87. You simply queue at NNPC. This is because some years ago, marketers had a gentleman agreement with govt to stop harassing them because they lift petrol from Lagos, PH and Calabar. They have to cover their losses in case of accidents etc and also bear transportation costs

Realdeals:


You are ignorant of what you are saying, i deliberately decide not to answer your previous mentions

@Bolded who owns the oil? NNPC or foreign multinationals, if its NNPC who owns NNPC

enough watch this video of him talking about the petroleum sector and subsidy


https://www.youtube.com/watch?v=Dwhy2zCUK1s

jpphilips:
gohome post=34160169]



The reason you gave is baseless and any person who is close to the downstream sector will think you have completely lost it.
I must be inebriated to argue that part with you again, it is your right to believe any Nonsense you wish to believe, next you will argue whether Jesus was crucified or shot to death.
Such childish discussion is not worth my time.




Most of the things you say here are baseless and has no bearing with the reality on ground, trust me most people dont care to read them, so save your strength.
You said your solution to "cabalocracy" is making laws, have you made the laws yet? But you are pushing for subsidy removal without putting the law in place, whatelse is putting the cart before the horse? You see how you always shoot yourself in the foot.
In your tiny mind, you think it starts and ends with making laws abi? You forget that for a law to be effective, there should be an existing implementation framework that will implement the laws, do you have it yet? and you want to remove subsidy? sorry for you!!

jpphilips:
gohome post=34160169]





[color=#000099]I have warned you to stop using UK and US to juxtapose the Nigerian economy, they are not a reflection of each other but you wont listen, Your Igele wearing, Harvard trained, World bank frustrated, Yale certified Finance minister was literally drenched in her own sweat, looking practically helpless last week while the cabals dealt her some serious blow!!
That is what happens when you use the western model to confuse the Nigerian economy, Let me give you a shocker (not that you deserve the information anyways).

The ECA (Excess crude account) that compounded this problem guess who created it? A UNN trained street economist with a first class, in 2004, exactly 11 years ago in the person of prof. chukwuma souldo, Iweala allowed so much political interference in the account that she practically lost control of its management.

To manage the account was a very big problem for her, in 2012, she managed to balkanize the account into three
FGF, NIF and SF, see where it has landed us. Soludo with this account stabilized our economy at $38/bbl the lowest oil price of the Obasanjo administration, faced with two economic Melt down, according to Soludo, our economy was practically immune to the worst financial trauma ever in history after the great recession.

Soludo as the coordinator of the economy at the time was able to hold the economic front for nearly one and half years, before he broke and devalued from 131 to 155 naira, this was the same government that paid off nearly all our debts to the tune of $12b, Initiated the NIPP to the tune of $16b our only hope of getting electricity right.

Compare with the Igele wearing, harvard trained, world bank frustrated, Yale certified failed finance minister, just a drop in crude price, (jonathan's lowest was $41/bbl with a peak of $115/bbl) this amounted to ECR of $40/bbl at $75 benchmark.

By August 2014, iweala has broken, Nigeria declared recession in less than 2 months of this crisis, the flood gates of borrowing was opened today, we are indebted to the tune of $63.7b, five months into the crisis, (Jan 2015) Nigeria borrowed to pay salaries, the Naira went loose from 155 to 202 against the dollar, thanks to Iweala's western model of solving Nigeria's problem. Why am even comparing a god with a mere mortal?

The learning point here is that the street Economist laid the foundation of Nigeria's 11years future while the Igele wearing, Harvard trained, world bank frustrated, Yale certified finance minister could not consolidate on Soludo's gains neither could she improve on it for the better, because she is stuck with the western model of economics. A word is enough for the wise!!




I was the one that told you how the devaluation affected the marketers, it is an insult to say I dont know. As we speak, out of the 59b released, 31b, was earmarked as the Forex differential in this last subsidy, if iweala understood my point and did the needful, i dont give a fvck about your opinion. you think the Nigerian economy run on google.






I doesn't matter who I am, what matters is how well I understand the situation, I don't expect you to know that anyways!!

989900:


How did we go from the above to this 'roforofo'?

There is OPEC quota for crude, no quota on refined products . . . by now, NNPC should have 'colonized' 75% of West Africa!

gohome:


If you do not have money to buy PMS at 200 Naira, park your car at home and sell it if you see a buyer. It means you are too poor to maintain a car, so why buy one in the first place. It also means Your country is too poor for you to own a cars.

If the public transport system is too expensive because of 200 Naira PMS, trek. If you cannot trek, occupy your state gov palace and tell him to provide mass transit for you. All modern mass transit run on diesel.

If you want to travel, enter a macopolo, they run on diesel.

We can survive with PMS at 200 Naira.

gohome:


OBJ has proved that phase removed does not help. He did it for 8 years, it did not work. Do you know how many firms he gave licences to build refinery, Over 18 people. None built a pin. Jonathan phased removed subsidy for 4 years, it did not work. The only thing that worked was Dangote commencing to build one. I heard it will be ready by 2016. Do you have a picture to show the progress. 16 years of wealth of experience for Buhari to tap. He should learn. How will Buhari magically do that is what beats me. Thankfully Dangote has been able to start one. Heard it will ready by 2016. Can any body post a picture of the progress of the refinery? Also, having a refinery even with access to free crude, will not bring the price down. Dangote will sell at international market price, if not more. If you force him to bring down his price, he will sell to Togo, Chad, Ghana or any other country willing to buy. Investors in is company with not take crap. They have invested, they shall reap like their global competitors.

revitalisation of the old refineries is not possible. Ask OBJ how much he sinked doing that. Can the Nigerian government maintain anything? The kind of government workers I know needs to be all sacked and new people brought in. Nigerian government workers to do not have the capacity. They are not well trained, not well motivated, Do not have the required skills.

Keep thinking for Buhari. He has granted tons of interview, has he told us how he will fix this mess? No. So we can only wait and see.

jpphilips:


If I had seen this post of yours, I wouldn't have replied any of your post, other government give facilities for their citizens to afford basic necessities and you are asking someone to park his vehicle and trek?
who is this guy?

You also believe whatever you want to believe to. Thats your cup of tea. Oh so you agree that laws and implementation will eliminate "cabalocracy". Why dont you protest to your so called NA members that consumes 3% of your budget. Alot of framework have been written to suit the Nigerian system.

Soludo's shine is Iweala's Shine. Iweala's lowlight is SLS lowlight.

You need help, Soludo is a god, Iweala is a mere mortal, it should be a crime punishable by death for anyone to compare both, dead or alive.

gohome:


Give facilities to the real sector. Let your state Gov. give thier citizens mass transit. Innoson produces diesel mass transit buses. give him the facilities, buy his cars and so you grow your real sector. Your government do not need to pay for something you can afford. It is a suicidal approach

jpphilips:



You seem to have an idea what the Enugu situation is, but you made an error by saying that Enugu is deregulated, Enugu is not deregulated, the Government created a problem for Enugu and the people found a way around it.
Watch that Real deal's Buhari's interview, he mentioned it.
All products that enter Enugu is subsidized, but where does their subsidy end? PH, warri or calabar sometimes, someone has to pay to get it to Enugu.
This is where Jonathan goofed, there is a line that is supposed to run from Aba depot or PH (I will check later where the line started) that is supposed to land the subsidized product to Enugu depot, at the Umuahia section, the line was vandalized and Fg refused to fix it.

So the NNPC or any Major marketer is entitled to Aquilla (transport subsidy) while the independent marketers, add the transportation cost and insurance to their products, causing the price variation.
It affected Anambra and Ebonyi too. funny enough, they were the people that voted for continuity of that madness!!

gohome:


If you do not have money to buy PMS at 200 Naira, park your car at home and sell it if you see a buyer. It means you are too poor to maintain a car, so why buy one in the first place. It also means Your country is too poor for you to own a cars.

If you want to travel, enter a macopolo, they run on diesel.

We can survive with PMS at 200 Naira.

If the public transport system is too expensive because of 200 Naira PMS, trek. If you cannot trek, occupy your state gov palace and tell him to provide mass transit for you. All modern mass transit run on diesel.

ohzee:


I know the Enugu situation well. When I say 'deregulated' it is in quote. I am aware that the marketers pocket the PEF they get for bridging and still sell at prices determined by demand and supply. However there is no task force going about to ensure that the product is sold at 87. Hence the product is always available and most importantly there are a few NNPC controlled stations that sell at govt price. So the marketers make their profit and still collect taxpayers money in the name of PEF.
Another aspect is that the private depot owners sell petrol to retailers above govt price forcing them to jack up their price at the pumps. Nobody regulates what they do. So to me, its all a merry go round. You therefore can't blame anyone who just wants govt to stop enriching these guys. The loopholes are staggering.

PS: Buhari's idea is great, but again the product refined overseas will still have to pass through these same marketers because as we both pointed out NNPC have no storage facilities

jpphilips:


Ya, you are right!!
Buhari's idea does not remove subsidy, it only gives the government a wider margin of control, it does not guarantee cheaper products either. I am yet to see anything new! by the time Buhari realizes that NNPC lack the capacity, he will scratch his head in disgust walahi!!

ohzee:


I don't think Buhari has bothered to inform himself of the true situation of things. Like most elderly men he still lives in the past. No offence. NNPC is also very corrupt. The money we are talking about can turn saints into fiends overnight. So we simply hope we don't shift the money from the cabal to a few NNPC people. NNPC monopoly of supply will also bring in an era of unprecedented scarcity.

989900:


#patience

We are about to find out.

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]