lilprinze:
APC and buhari are all Bunch of hypocrites when the previous administration tried to remove subsidy they insulted and criticized them .

989900:
You can't remove fuel subsidy while importing refined fuel. Fix the refineries first.

VillageParrot:
Barring any last minute changes, President Muhammadu Buhari will within the next few days officially announce the removal of subsidies in prices of petroleum products, SIGNAL can authoritatively report.

Presidency sources informed about the development told SIGNAL on Saturday that President Buhari has already started consultation with the leadership of the National Assembly and key Labour leaders before the official announcement.

According to the source, “President Buhari has come to terms with the economic challenges associated with government subsidy for petroleum products. The current economic situation of the country, has made it even more imperative to remove subsidy, because it is not sustainable.”

It will be recalled that in July 2015, President Buhari dismissed calls for his government to remove fuel subsidy. According to him, “I have received many literature on the need to remove subsidies, but much of it has no depth”.

http://www.signalng.com/flash-buhari-moves-remove-fuel-subsidy-begins-consultation-nass/

omohayek:


[s]This is nothing but wishful thinking on your part, as the causality is actually reversed. As much as you may like the idea of cheap fuel, it will never be economical to refine it domestically if the price of the product is artificially capped. It's not as if fuel has been available at the "subsidized" rate anyway, so why insist on the maintenance of a subsidy hardly any ordinary person benefits from?[/s]

989900:
You can't remove fuel subsidy while importing refined fuel. Fix the refineries first.

989900:


Baloney!

thunder74:
We need to change this government because the change they promised has not changed anything from the activities of the previous government we changed.

GogobiriLalas:
lol, where will you get the money to fix the refineries?

newton231:

Even when your girlfriend jilts you, u'll blame it on the previous administration. Receive sense by fire

989900:


1. Are the refineries working now; at what capacity if they are?

2. How much money are we talking about?


If you can answer the above 2 correctly, I'll proceed with you.

omohayek:


Wow, what a deep and compelling rebuttal on your part! I'm totally convinced of the errors in my thinking now! [sarcasm]

Keep on mistaking your fantasies for reality, and see how much closer that gets you to resolving never-ending fuel shortages that have don't exist even in poor neighbors like Benin, Mali and Togo.

Keneking:
Amazing..

NNPC would be the preferred destination. Wait and see what's gonna happen to the rest.

989900:
You can't remove fuel subsidy while importing refined fuel. Fix the refineries first.

GogobiriLalas:
I'M really not trying to start an argument; it's a simple matter of placing the cart before the horse...if you want the refineries fixed, you need to get some money, if you want money, remove subsidies

989900:


I'm sorry to have to call it what it is, honestly, I wish I did that in a more polite way, but it was just some choking gallimufry you had going there, and it is totally pointless having such convo with that amount of naivety -- which is none of your fault anyways.

One point though, how do other oil producing countries whose PMS pump prices without subsidy are well below N70/litre do it?

989900:
You can't remove fuel subsidy while importing refined fuel. Fix the refineries first.

989900:


I'm sorry to have to call it what it is, honestly, I wish I did that in a more polite way, but it was just some choking gallimufry you had going there, and it is totally pointless having such convo with that amount of naivety -- which is none of your fault anyways.

One point though, how do other oil producing countries whose PMS pump prices without subsidy are well below N70/litre do it?

omohayek:


Care to point out what exactly was "gallimufry" in what I wrote? How do you expect refining to flourish in Nigeria when private operators aren't able to make a profit?



The answer is simple: their prices are not below N70/litre, which is why it is so lucrative for criminals to hijack refined fuel from Nigeria to sell abroad.

We have to face reality: no matter what the "official" price of petrol may be, nobody is actually getting it at that price without having to do a lot of waiting in long queues in the hot sun with jerry-cans, often with nothing to show for it at the end of the day. Isn't it better to pay the market price for fuel and be sure that you can get it within minutes, rather than wasting so many days of one's life looking for "cheap" fuel that isn't there? Because that is the real situation Nigerians have been facing for years now.

I haven't even mentioned the fact that this same costly fuel subsidy is one major reason why Nigeria saved nothing during the years when oil was $110/barrel, or that keeping it in place will completely blow up the 2016 budget, which already requires substantial borrowing. Would you rather have better electricity transmission and better road/rail links, or see billions poured into fuel subsidies whose main beneficiaries are smugglers and fraudulent importers?

If you think I am wrong in anything I have said, I would appreciate a response that points out the gaps or errors in my reasoning, rather than trading insults or simply accusing me of "gallimufry".

omohayek:


Care to point out what exactly was "gallimufry" in what I wrote? How do you expect refining to flourish in Nigeria when private operators aren't able to make a profit?



The answer is simple: their prices are not below N70/litre, which is why it is so lucrative for criminals to hijack refined fuel from Nigeria to sell abroad.

We have to face reality: no matter what the "official" price of petrol may be, nobody is actually getting it at that price without having to do a lot of waiting in long queues in the hot sun with jerry-cans, often with nothing to show for it at the end of the day. Isn't it better to pay the market price for fuel and be sure that you can get it within minutes, rather than wasting so many days of one's life looking for "cheap" fuel that isn't there? Because that is the real situation Nigerians have been facing for years now.

I haven't even mentioned the fact that this same costly fuel subsidy is one major reason why Nigeria saved nothing during the years when oil was $110/barrel, or that keeping it in place will completely blow up the 2016 budget, which already requires substantial borrowing. Would you rather have better electricity transmission and better road/rail links, or see billions poured into fuel subsidies whose main beneficiaries are smugglers and fraudulent importers?

If you think I am wrong in anything I have said, I would appreciate a response that points out the gaps or errors in my reasoning, rather than trading insults or simply accusing me of "gallimufry".

Yes, fuel is N3.98 kobo (Three Naira, Ninety-eight kobo)/litre in Venezuela and,

Kuwait: N44.00 ($0.22)

Turkmenistan: N57.77 ($0.29)

Saudi: N47.76 ($0.24)

Qatar: N71.6 ($0.36) per litre.

I'm sorry to burst your bubble, but we all learn everyday.

I posted a link, why don't you go through, it'd be useful . . .

Like I said earlier, I practically lived/live some of those prices, and it is of course even cheaper for Octane91 and lower (as most of those prices are for 95, 97 Octane). And those prices are after Saudi, Qatar, UAE, and some others, just increased pump prices some few weeks ago, 'cause of their shortfall in oil revenue by removing fuel subsidies. The UAE oil minister practically said "we'r rich people we should be able to afford to pay without subsidy". Venezuela is heavily subsidized though (not a practical example).

http://www.newsofbahrain.com/viewNews.php?ppId=12820&TYPE=Posts&pid=22&MNU=18&SUB=
http://www.arabianbusiness.com/uae-to-cut-remaining-energy-subsidies--619552.html
http://www.pressreader.com/uae/khaleej-times/20160123/281479275428924/TextView

VillageParrot:
Barring any last minute changes, President Muhammadu Buhari will within the next few days officially announce the removal of subsidies in prices of petroleum products, SIGNAL can authoritatively report.

Presidency sources informed about the development told SIGNAL on Saturday that President Buhari has already started consultation with the leadership of the National Assembly and key Labour leaders before the official announcement.

According to the source, “President Buhari has come to terms with the economic challenges associated with government subsidy for petroleum products. The current economic situation of the country, has made it even more imperative to remove subsidy, because it is not sustainable.”

It will be recalled that in July 2015, President Buhari dismissed calls for his government to remove fuel subsidy. According to him, “I have received many literature on the need to remove subsidies, but much of it has no depth”.

http://www.signalng.com/flash-buhari-moves-remove-fuel-subsidy-begins-consultation-nass/

Festivalofholi:
As if things aren't bad enough, now d dullard want to remove fuel subsidy. Buhari shuld be impeached, he has no idea of wot he is doing. He's lost it completely.

emmalexabl:
THIS APC AND SCAM ARE JUST 5 and 6!!