The federal government has resumed paying fuel subsidies. The amount is well over N12 naira for every liter of petrol. Recall that in January, Kachikwu and Buhari, both petroleum ministers had said Nigeria did not pay fuel subsidies for January.

The Petroleum Products Pricing Regulatory Agency (PPPRA) released a new pricing formula which shows that fuel subsidies paid by Buhari’s led ministry of petroleum will gradually increase over time. Their reason is that for oil marketers to keep importing the fuel, the Federal Government has to keep paying subsidies since crude oil price is still low.

We don’t understand the logic.

The restructured PPPRA pricing template for petrol shows that expected market price for rose to N99.38 per liter for oil marketers and N98.62 per liter at NNPC retail filling stations. According to PPPRA, the landing cost of petrol imported into the country is between N84.32 and N85.08 per liter respectively.

The Petroleum Pricing Regulatory Agency is the agency charged with the determination of the pricing of petroleum products. They regulate fuel prices and subsidy payments.

The Department of Petroleum Resources (DPR) is the agency responsible for petroleum regulation in Nigeria. DPR has the statutory responsibility of ensuring compliance to petroleum laws, regulations and guidelines in the Oil and Gas Industry.

The difference between the PPPRA determined prices and the government-regulated price yields the amount of subsidy per liter that the government incurs.

Recall that Kachikwu had accused fuel importers of diverting 30% of petrol to neighboring countries. For example, in Benin Republic, Fuel sells for more than 200 naira a liter. Thus marketers divert the already subsidized oil from Nigeria to neighboring countries leaving us in want of the product and making huge profit in the illegal deal.

We just hope the Buhari led administration, the NNPC, PPPRA, DPR, fuel importers and the rest of them know what they are doing. Nigerians are already suffering and they should rather tell us the exact situation in our oil sector than oscillate between opinions every week.


Source
http://vanguardnigeria.org/berating-gej-buhari-increases-fuel-subsidy/

Cc

lalasticlala

Buhari is a big time hypocrite

This administration are a set of confused entities. They dont know or understand the rudiments of governance. But we choose not to be confused like them. We will excel above their confusion.

Buhari is a dullard and a confused fool

I told you so

_{where's aminat508 I have won the bet.... bedlaid}

This administration and hypocrisy are

Another Contradiction to add to the Already Long List.

If u ask me, those that invested in APC will get their money back through subsidy. They put in budget people lamented, now it is in subsidy.

I thought they did calculation under Gej and said fuel should sell for 60 Naira due to falling oil price.

Useless liars

DaBullIT:
Useless liars

Who? The APC/Buhari led government or the news report?

SamJed:
Buhari is a big time hypocrite

That's my problem with the dullard and his team! And Zombies both in and out of government have been telling us that no provision was made for subsidy in the budget of yams, so where will the money come from?

Clueless, archaic ideas, intellectually old, hypocritical, a fight against boko is a fight against the north, abacha did not steal, he only took money illegally, why are your people killing my people, dogs and baboons, bigotted, fanatical, own and control, baba go slow, dullapor, etc etc...all in one person!

DaBullIT:
Useless liars

wailing form is finished! You are on your own!

Damn! People are gonna finish this administration. . . .

The title "clueless" has finally found a deserving head....

Buhari is the worst hypocrite Nigeria ever have as president... I gave up on his silly antics when he said he borrowed to buy the presidential form with handful of sachet milo and peak milk ..smh.. Bubu can lie for North Korea

Confused govt

See all the useless wailers making noise everywhere. Many just read headlines and will rush to comment.

OP clearly explained why subsidy will be paid. Either u allow IM to import and pay subsidy, or NNPC continues to be the sole importer and the long queues will return. Its not about gej or buhari, its common sense. Nigeria belongs to all of us. So drag your brain out of the mud and stop using urself as a political footmat.

[s]

allthingsgood:
See all the useless wailers making noise everywhere. Many just read headlines and will rush to comment.

OP clearly explained why subsidy will be paid. Either u allow IM to import and pay subsidy, or NNPC continues to be the sole importer and the long queues will return. Its not about gej or buhari, its common sense. Nigeria belongs to all of us. So drag your brain out of the mud and stop using urself as a political footmat.

[/s]

Sharraappppp there!
Your dauradullard told us subsidy does not exist.

Today, even at a lower international oil prices he is still paying a far higher subsidy than previous govt.
.

allthingsgood:
See all the useless wailers making noise everywhere. Many just read headlines and will rush to comment.

OP clearly explained why subsidy will be paid. Either u allow IM to import and pay subsidy, or NNPC continues to be the sole importer and the long queues will return. Its not about gej or buhari, its common sense. Nigeria belongs to all of us. So drag your brain out of the mud and stop using urself as a political footmat.

Shut up.. Pls just shut it.. When the subsidy was present in last administration, wasn't it for same purpose you just wrote? Oh, you threw away common sense then.. Subsidy was even more necessary then considering the higher price of crude oil... APC is afraid to totally remove subsidy due to the reaction of Nigerians which they fear..

Meriekriss:


Shut up.. Pls just shut it.. When the subsidy was present in last administration, wasn't it for same purpose you just wrote? Oh, you threw away common sense then.. Subsidy was even more necessary then considering the higher price of crude oil... APC is afraid to totally remove subsidy due to the reaction of Nigerians which they fear..

Like I said, it is a shame that ur brain is unable to reason beyond political parties and tribal shit. In your warped mind u assume I must be supporting apc. Its such a pity. Poverty or plenty does not know who is in power! Both buhari and gej dont know u. So keep enslaving yourself under the misplaced thinking that u are supporting a party

Goddex:
[s][/s]

Sharraappppp there!
Your dauradullard told us subsidy does not exist.

Today, even at a lower international oil prices he is still paying a far higher subsidy than previous govt.
.

Read the post before commenting blindly! OP has already explained the reason for the subsidy

allthingsgood:


Like I said, it is a shame that ur brain is unable to reason beyond political parties and tribal shit. In your warped mind u assume I must be supporting apc. Its such a pity. Poverty or plenty does not know who is in power! Both buhari and gej dont know u. So keep enslaving yourself under the misplaced thinking that u are supporting a party

Mr., you have not addressed any of the points he/she raised.

Lets show them we are tired of the Northern agenda!

allthingsgood:


Like I said, it is a shame that ur brain is unable to reason beyond political parties and tribal shit. In your warped mind u assume I must be supporting apc. Its such a pity. Poverty or plenty does not know who is in power! Both buhari and gej dont know u. So keep enslaving yourself under the misplaced thinking that u are supporting a party

Shut up... No one said you are supporting APC... You must not comment to be noticed..

You purposely ignored addressing the points I raised, instead you chose to look for who to lecture with a repeated boring line..

During the last administration, what was your opinion?? I just dnt understand how Nigerians think.. You are telling us to apply common sense for a President that rode to power on so called integrity and he questioned why subsidy should be paid without thinking about your so called OP explanation then all for him to turn around nd pay higher subsidy when crude oil price is lower now...

And then GEJ was almost crucified for petty reasons.

Bunch of hypocrites

Zombies will run far from this post.

Buhari, a man at war with himself.....


Am tired of this APC government.

E go soon be one year this month oh.

Wonder what he would push forward as his achievements.

Am amazed at how the 'Critics' of yesterday has become almost deaf and dumb to the happenings in this present administration.
We have no other country but Nigeria. If the activists like they should all play the Ostrich because Buhari and Osibanjo are in power. But one thing is certain, we will all ride or sink with this Nation. Poverty and sufferings knows no tribe or religion.

Watch zombies avoid dis thread like a plague.. D fear who'll dare to comment will complain about how "wailers" only read the heading without fully understanding. Dem neva see anything by d d time d govt is thru with us, we'll b begging for military rule

Mynd44 this is front page material!!

Afterall, subsidy is real.

I can now confirm that I don't have a president in this country.
I refuse this fooolish hypocrite as my president, NEVER!

Change indeed!!