youngeagle:
The worst part is that GEJ raised minimum wage and NYSC allowance as a panacea to the suffering the subsidy might cause,but our dullardiho doesn't give a damn even with the worsening economic condition caused by the dollar hike and still most Nigerians that protested in 2012 finds it hard to even condemn this act...my Hero will live longer than his adversaries wished him.

Increasing minimum wage was a lazy and easy option to go, the more enduring but tougher option was to block all leakages in the system and ensure refineries are functioning to force down price as a result of excess supply.
This is called true leadership. Taking the tough decision and not chicken like GEJ

pharmagba:

Increasing minimum wage was a lazy and easy option to go, the more enduring but tougher option was to block all leakages in the system and ensure refineries are functioning to force down price as a result of excess supply.
This is called true leadership. Taking the tough decision and not chicken like GEJ

what measures did your dullard take?

OrlandoOwoh:
I've come to realize that GEJ/PDP supporters have not come up with any reason, whether plausible or otherwise, why the removal of subsidy, as they're wont to make us believe, is wrong. Their only objection is because when GEJ attempted it in 2012, it's resisted. Na wa for una o.

I knew subsidy removal was the way forward during GEJ'S administration but I was so sure he and his croonies would have looted any money saved.

I'm still glad we resisted it back then.

koboko69:
So far, the the only reason so far given by the wailing wailers for not supporting the removal of subsidy is simply because "Tinubu" and "Fashola" were against it when Jonathan removed it. Most of these people were also amongst those who protested against the removal back then. But as it is today, its a game of looking for any opportunity to attack Buhari.

mynd44 and lalasticlala

believe you me every man protested against it back then

I've always supported subsidy removal because I know what's involved. However many people have limited knowledge of what's going on in Nigerian economy. . We are on a brink and we've been on a brink since 2014 but using secret loans to cover up until a threshold was reached after 2015 elections.

There was a wicked loot of the treasury during Jonathan's era which will be difficult to escape. Buhari inherited a dead economy with cosmetic dressing. Fuel was selling at 300 Naira and FG was owing marketers half a trillion Naira subsidy as at the day Buhari assumed office.

selvad:
believe you me every man protested against it back then

Not every man. Even though I had my reservations for Jonathan's government I supported removal of subsidy. I have always supported it. Read my response to a thread in 2011.

https://www.nairaland.com/830189/nigerian-company-selling-kerosene-airlines

Abagworo:
Dpk and Atk can be used by any air craft. Dpk does not in anyway compromise the safety of an aircraft but the problem here is the economic sabotage. This is part of the reason why subsidy removal is very important.


Let us analyse the fraud being perpetuated by Sahara Oil. They import Dpk at a landing and profit cost of 130 Naira per liter and Government pays them 90 Naira as subsidy. That way they have already made profit and recovered the money invested. The fraud is that rather than sell to the local consumers at 40 Naira, they still went ahead to sell at more than 130 Naira to the airlines thereby making another profit of 90 Naira per liter.

Zombi will remain Zombi till death. your lord n master (pmb) in his deluded command n control mindset refuses to deregulate d naira. Thereby cripple d fx in a way that even pms marketers couldn't access enough dollars to import as acknowledge by kachukwu himself n that, nnpc don't have d required logistics to fuel d country,hence d shortage in supply of pms. To demonstrate the confuse state of this government,fuel price was increased to #145 n d marketers where asked to source fx anywhere n import pms. the same government 2 contradictory policies. zombies n pmb I really don't no whom to classify as most confuse.

Twist4u:
Zombi will remain Zombi till death. your lord n master (pmb) in his deluded command n control mindset refuses to deregulate d naira. Thereby cripple d fx in a way that even pms marketers couldn't access enough dollars to import as acknowledge by kachukwu himself n that, nnpc don't have d required logistics to fuel d country,hence d shortage in supply of pms. To demonstrate the confuse state of this government,fuel price was increased to #145 n d marketers where asked to source fx anywhere n import pms. the same government 2 contradictory policies. zombies n pmb I really don't no whom to classify as most confuse.

Deregulate the Naira?? .

So they now "deregulate Naira"? Nice one from a "smart" one!

U just restated what was already made clear by the OP.

So what exactly is your point?

What is the confusion or contradictory policy?

I humbly await your response...

koboko69:
Subsidy Removal under Jonathan;

Jonathans government announced the total removal of subsidy on Jan 1 2012.

The Facts;

1. Oil sold at 113 usd per barrel as at Dec 31st 2011

2. The exchane rate as at Dec 2011 was 1 usd to N 162.3

3. Jonathan's Predecessor actually dropped PMS price from N75 to N65 and was able to sustain subsidy whilst handling the amnesty program for repentant millitants till his early dismiss.

4. A more bouyant foreign reserve and growing ecomomy.

The government's major basis of total removal of subsidy was sighted as massive corruption. Rather than deal with the monster, the incompetence of the government was shifted to the masses. Many Nigerians were not ready make the government have more money to loot, as subsidy was still sustainable at that time.

After the Occupy Nigieria protests, the price of PMS was revised to N97 per littre, with the promise of urban busses, building and rehabilitation of refineries. It is interesting to note that the only partially successful programme after the subsidy removal was SURE-P because some Nigeirans benefitted from it without the "u must know someone" usual. Till the exit of Jonathan's government, we had no functional refineries, neither were new ones built.

Please note, Boko Haram was more like rag tag millitant as at the time of subsidy removal which later grew to a sophisticated, machine guns, tanks rolling millitant. So BH as an excuse is not tenable.

Subsidy removal under President Buhari.

1. Oil price selling below 40usd per barrel

2. Exchange rate of N197-N199 to a dollar amd N320 to a dollar in the parallel market.

3. An ailing economy, with limited FOREX, and dwindling reserves.

The major reason for the total removal of subsidy by the current government is because of scarcity of Forex and a ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketer to handle importations of petroleum. It should also be noted present government have been able to tackle corruption to a fault in the oil industry.

The oil Marketters have now been given the liberty to source forex from other sources to import fuel which is the major reason for the high hike.

The current government have made moves which will see the price of PMS drop in the nearest future. For the first time in years we have the Warri, Kaduna, and Port Harcourt refineries working together but some misguided youths in the name of avengers have decided to keep sabotaging the efforts of the present government.
There are also moves on ground to build more refineries.

In my opinion, the deregulation of the lower stream sector is right on track at this time and I stand with Buhari on this.

For now i see no reason why this government should not be supported, as they still have more than 2 years to deliver. Should the government not meet up to expectations before next elections, then Nigerians can't take their anger to the polls.

God Bless Nigeria.

Dear Sir,
It's either you have ZERO idea what fuel SUBSIDY is, or, you skipped elementary 6 arithmetic, or, you are a very disingenuous SAI BABA-ist.

Let me first of all say that I support SUBSIDY removal. I supported it during the Abacha years, I supported it during the Jonathan years, and I still support it, but for Genuine economic reasons, not for silly, upsidedown kindergarten logic that you have insulted us with here.

Fuel SUBSIDY, under any disguise, is simply equivalent to gathering several trillion Naira every year, and then setting it on fire to burn, burn and burn.
No better description.

Like I said , elementary 6 math skills are all that is required to understand the logic of fuel SUBSIDY, something that Buhari claimed not to understand, and obviously didn't understand till now.

Fuel SUBSIDY is simply the difference, the negative difference between cost price( international cost price) of petroleum products, and , the government stipulated pump price that drivers pay at the fuel stations.

For example, if the cost and landing( bridging) cost of petrol is N140/l,but the government stipulated pump price is fixed at N86/l, it then means that whoever is making fuel available is losing the sum of N140(cost)- N86( selling price) = N54/l

Obviously, no one would do a business where they are losing a whopping N54 per litre.

So, the government, as part of social contract with the people, steps in to pay the difference of N54 in order to ensure that fuel is available at all times.

Are you following?

Now, since the price of petroleum products depends primarily on the international price of crude oil as well as our currency exchange rate, simple elementary school arithmetic should tell us that the SUBSIDY the government pays per litre grows and widens as either the price of crude oil rises, or, the value of our currency falls.

Now listen carefully.
When the price of crude rises, as it did during the GEJ era, the SUBSIDY, the difference between cost price and pump price ballooned to an astronomical level, to the point where the government of the day had no choice than to break its social contract with the people by adjusting the pump price upwards to NARROW the very wide SUBSIDY gap.
Are you following?
It is usually a hard and politically charged decision for any government, but this was common sense Economics.
The political pressure sooo great for the government that they eventually settled for just half of what they wanted.

Once again, economic prudence was sacrificed for political expediency.

And the money continued to burn, burn and burn.

But then,
A curious thing started happening last year.
The price of crude began to crash, crash and crash.
By simple elementary school arithmetic, it also meant that the fuel SUBSIDY gap began to NARROW, narrow and narrow , until it not only became ZERO, but actually went positive.

That's right.
In fact, as of last month or so, it was widely and repeatedly reported in the Nigerian media, and simple arithmetic concurs, that the federal government was making a whopping Profit of N10 or so per litre of petrol sold in Nigeria.

You get my drift sir?
Higher crude price = more SUBSIDY payments
Lower crude price = less or ZERO SUBSIDY payments.

Therefore your own arithmetic is null and void , simply because it failed to comply with the simple, immutable laws of elementary arithmetic.

Now, to the issue of the moment.

In as much as I support the removal of fuel SUBSIDY, the recent upward revision of the pump price of petrol to N145 is NOT, and I repeat, is NOT a SUBSIDY removal.

There was NOOooo SUBSIDY to be removed as of yesterday.

What the government did, which I still support, is that it raised the pump price of petrol for two main reasons:

1. To generate much much and desperately needed revenue to fund it's budget.
Bingo!!!
Does anyone still remember that the government has been hopping from place to place desperately looking for funds to finance it's budget ?

2. To liberalise the fuel supply system by making it attractive to private sector dealers and importers.

Killing these Two birds with one stone would ensure the steady and competive supply of petrol , as well providing badly needed additional funds for the government.

The only problem I have is the FRAUD of calling it fuel SUBSIDY removal, which it is definitely NOT.

ba7man:
I knew subsidy removal was the way forward during GEJ'S administration but I was so sure he and his croonies would have looted any money saved.

I'm still glad we resisted it back then.

The money saved by SURE-P could not actually be accounted for. It's one of the reasons the DG, Christopher Kolade had to resign, when he felt his integrity had been compromised. Martin Luther Agwai, who took over from him was sacked.

plaetton:


Dear Sir,
It's either you have ZERO idea what fuel SUBSIDY is, or, you skipped elementary 6 arithmetic, or, you are a very disingenuous SAI BABA-ist.

Let me first of all say that I support SUBSIDY removal. I supported it during the Abacha years, I supported it during the Jonathan years, and I still support it, but for Genuine economic reasons, not for silly, upsidedown kindergarten logic that you have insulted us with here.

Fuel SUBSIDY, under any disguise, is simply equivalent to gathering several trillion Naira every year, and then setting it on fire to burn, burn and burn.
No better description.

Like I said , elementary 6 math skills are that is required to understand the logic of fuel SUBSIDY, something that Buhari claimed not to understand, and obviously didn't understand till now.

Fuel SUBSIDY is simply the difference, the negative difference between cost price( international cost price) of petroleum products, and , the government stipulated pump price that drivers pay at the fuel stations.

For example, if the cost and landing( bridging) cost of petrol is N140/l,but the government stipulated pump price is fixed at N86/l, it then means that whoever is making fuel available is losing the sum of N140(cost)- N86( selling price) = N56/l

Obviously, no one would do a business where they are losing a whopping N56 per litre.

So, the government, as part of social contract with the people, steps in to pay the difference of N56 in order to ensure that fuel is available at all times.

Are you following?

Now, since the price of petroleum products depends primarily on the international price of crude oil as well as our currency exchange rate, simple elementary school arithmetic should tell us that the SUBSIDY the government pays pee litre grows and widens as either the price of crude oil rises, or, the value of our currency falls.

Now listen carefully.
When the price of crude rises, as it did during the GEJ era, the SUBSIDY, the difference between cost price and pump price grew to an astronomical level, to the point where the government of the day had no choice than to break its social contract with the people by adjusting the pump price upwards to NARROW the very wide SUBSIDY gap.
Are you following?
It is usually a hard and politically charged decision, but this was common sense Economics.
The political pressure sooo great that government eventually settled for just half of what it sought.

And the money continued to burn, burn and burn.

But then,
A curious thing started happening last year.
The price of crude began to crash, crash and crash.
By simple elementary school arithmetic, it also meant that the fuel SUBSIDY gap began to NARROW, narrow and narrow , until it not only became ZERO, but actually went positive.

That's right.
I'm fact, as of last month or so, it was widely and repeatedly reported in the Nigerian media, and simple arithmetic concurs, that the federal government was making a whopping Profit of N10 or so per litre of petrol sold in Nigeria.

You get my drift sir?
Higher crude price = more SUBSIDY payments
Lower crude price = less or ZERO SUBSIDY payments.

Therefore your own arithmetic is null and void , simply because it failed to comply with the simple, immutable laws of elementary arithmetic.

Now, to the issue of the moment.

In as much as I support the removal of fuel SUBSIDY, the recent upward revision of the pump price of petrol to N145 is NOT, and I repeat, is NOT a SUBSIDY removal.

There was NOOooo SUBSIDY to be removed as of yesterday.

What the government did, which I still support, is that it raised the pump price of petrol for two main reasons:

1. To generate much much and desperately needed revenue to fund it's budget.
Bingo!!!
Does anyone still remember that the government has hopping from place to place desperately looking for funds to finance it's budget ?

2. To liberalise the fuel supply system by making it attractive to private sector dealers and importers.

Killing these Two birds with one stone would ensure the steady and competive supply of petrol , as well providing badly needed additional funds for the government.

The only problem I have is the FRAUD of calling it fuel SUBSIDY removal, which it is definitely NOT.

Lol. Mr intelligent. You failed to take into account also that the higher the crude price, the more forex and money for the government and also to more stable the Naira becomes. This should be an excess bridge to the gap created by higher subsidy claims occassioned by the rise in crude oil.

Like i stated before, the issue then was the government was trying to shift the incompetence in fighting corruption in the oil sector to the innocent masses.

Also there was a relative stable naira as at that period, as oil was high, SLS was the then CBN Governor and between 2009 to 2011, before the bomb shell on Jan 1 2012 Naira only dropped by about 10 to 12naira.
When the oil price started dropping again, and Niara started loosing its value, GEJ did not try to remove subsidy again because he failed in his promises of reving and building more refineries which would have cushioned the effects.
Now a stronger and more definite leader is on board, who first tried to avoid the subsidy removal, but seeing that it is not sustainable have decided to take the bull by the horn.

Besides At the same time, a barrel rose to 113 usd per sollar did not justify the ridiculous claim of the then government that she is spending 2trillion naira on subsidy claims a sharp rise from the 320billion being paid before.

Your long epistle is totally not needed except u were trying to educate the people who elong to your class whose only contribution here has been Zombie this and that!

Plaetton, you deserve the degree after the PhD

Anyways, Ehinmetan Mola Ezekiel started a revolution in literature. Join in the renaissance www.facebook.com/ehinmetanmolaezekiel

koboko69:



Lol. Mr intelligent. You failed to take into account also that the higher the crude price, the more forex and money for the government and also to more stable the Naira becomes. This should be an excess bridge to the gap created by higher subsidy claims occassioned by the rise in crude oil.

Like i stated before, the issue then was the government was trying to shift the incompetence in fighting corruption in the oil sector to the innocent masses.

Also there was a relative stable naira as at that period, as oil was high, SLS was the then CBN Governor and between 2009 to 2011, before the bomb shell on Jan 1 2012 Naira only dropped by about 10 to 12naira.
When the oil price started dropping again, and Niara started loosing its value, GEJ did not try to remove subsidy again because he failed in his promises of reving and building more refineries which would have cushioned the effects.
Now a stronger and more definite leader is on board, who first tried to avoid the subsidy removal, but seeing that it is not sustainable have decided to take the bull by the horn.

Besides At the same time, a barrel rose to 113 usd per sollar did not justify the ridiculous claim of the then government that she is spending 2trillion naira on subsidy claims a sharp rise from the 320billion being paid before.

Your long epistle is totally not needed except u were trying to educate the people will belong to your class whose only contribution here has bee. Zombie this and that!

My dear friend, there are much better reasons to support the recent increase in pump price than making moot references to GEJ.

Must this government and its supporters always use GEJ to validate their wishy washy policies ?

Saying that the GEJ government made more dollars, therefore they should have been able to afford a trillion Naira fuel SUBSIDY makes zero sense.

Fuel SUBSIDY is a stuupid waste of Nigeria's money, irrespective of how much the government earned.

Fuel SUBSIDY removal didn't start with GEJ. It has been with us since the Abacha days.
Anyway you look at it , it is has always been a waste.

GEJ, like those before him, wanted to remove SUBSIDY for genuine , sound economic reasons that are now too obvious to the current Administration. Simple.

I repeat, as of two days ago, there was ZERO fuel SUBSIDY.

No SUBSIDY was removed.

The government simply imposed a 68% tax on the pump price of petrol.

A tax by any other name is still a tax.

plaetton:

Higher crude price = more SUBSIDY payments
Lower crude price = less or ZERO SUBSIDY payments.

Sir, this is where you get it wrong. At higher crude price more $ flows into the economy, govt was able to satisfy all forex needs at a controlled price.
At lower crude price, less $ inflows, foreign reserve is low, there is less fx to sell to importers, therefore $ to N rate is high.
Let assume a litre of refined fuel during GEJ era was imported at a cost of $1/l=N160 at govt rate and $0.5/l during PMB will cost about N160 too because importers will have to source for fx elsewhere.

Realdeals:


Sir, this is where you get it wrong. At higher crude price more $ flows into the economy, govt was able to satisfy all forex needs at a controlled price.
At lower crude price, less $ inflows, foreign reserve is low, there is less fx to sell to importers, therefore $ to N rate is high.
Let assume a litre of refined fuel during GEJ era was imported at a cost of $1/l=N160 at govt rate and $0.5/l during PMB will cost about N160 too because importers will have to source for fx elsewhere.

My friend, government does not exist for the sole purpose of subsidizing fuel.
Government cannot say " look, our SUBSIDY payments are ballooning out of control, but lo, let's use our surplus oil $$ profits to offset our ballooning SUBSIDY payments " .

Would you do that if it was your decision as the head of the government?
I suspect not, because that would be utterly stuuuupid economic policy.

As for fx , well, Buhari is pretending that Nigeria's currency exchange rate is $199.
Has he woken up yet to smell the coffee ?

Better late than never.

so in other words buhari is badluck so he should give way for goodluck to come in.

plaetton:


My dear friend, there are much better reasons to support the recent increase in pump price than making moot references to GEJ.

Must this government and its supporters always use GEJ to validate their wishy washy policies ?

Saying that the GEJ government made more dollars, therefore they should have been able to afford a trillion Naira fuel SUBSIDY makes zero sense.

Fuel SUBSIDY is a stuupid waste of Nigeria's money, irrespective of how much the government earned.

Fuel SUBSIDY removal didn't start with GEJ. It has been with us since the Abacha days.
Anyway you look at it , it is has always been a waste.

GEJ, like those before him, wanted to remove SUBSIDY for genuine , sound economic reasons that are now too obvious to the current Administration. Simple.

I repeat, as of two days ago, there was ZERO fuel SUBSIDY.

No SUBSIDY was removed.

The government simply imposed a 68% tax on the pump price of petrol.

A tax by any other name is still a tax.

Lol. There we go again. Read to understand. You are the one thinking you are making sense when actually you are beating around the bush.

You failed to understand the point that, Nigerians were not ready to give more money to be looted. What have been the effects of the subsidy removal since the whole thing started?
The little that was removed by Jonathan, with the promise of working refineries and new refineries what happened to all those.

We all know subsidy was waste of money, but Nigerians were wiser not to give away money to be looted.

I know u are deliberately avoiding my points but rather talking off point.

I stated again before that, its simply because many pro PDP reasons for not supporting subsidy removal is simply because Buhari, Tinubu and spoke against it before not because its not a good policy. Nobody is using Jonathan's policy to validate anything.

No subsidy was removed u say?

Now and I know you are a clown, landing cost of PMS as at 11th may was put at 119 naira and u say no Subsidy?

You are pretending to be neutral but i can smell ur hate for baba from my smart phone and sense that Jonathan was also your hero.

Realdeals:


Sir, this is where you get it wrong. At higher crude price more $ flows into the economy, govt was able to satisfy all forex needs at a controlled price.
At lower crude price, less $ inflows, foreign reserve is low, there is less fx to sell to importers, therefore $ to N rate is high.
Let assume a litre of refined fuel during GEJ era was imported at a cost of $1/l=N160 at govt rate and $0.5/l during PMB will cost about N160 too because importers will have to source for fx elsewhere.

Leave that guy, he keeps whining about. He thinks he is smart . I am not gonna waste my time on him again

koboko69:


Lol. There we go again. Read to understand. You are the one thinking you are making sense when actually you are beating around the bush.

You failed to understand the point that, Nigerians were not ready to give more money to be looted. What have been the effects of the subsidy removal since the whole thing started?
The little that was removed by Jonathan, with the promise of working refineries and new refineries what happened to all those.

We all know subsidy was waste of money, but Nigerians were wiser not to give away money to be looted.

I know u are deliberately avoiding my points but rather talking off point.

I stated again before that, its simply because many pro PDP reasons for not supporting subsidy removal is simply because Buhari, Tinubu and spoke against it before not because its not a good policy. Nobody is using Jonathan's policy to validate anything.

No subsidy was removed u say?

Now and I know you are a clown, landing cost of PMS as at 11th may was put at 119 naira and u say no Subsidy?

You are pretending to be neutral but i can smell ur hate for baba from my smart phone and sense that Jonathan was also your hero.

My dear friend,
Common sense should always take precedence over politics.
Removal of SUBSIDY makes economic sense, irrespective of who is doing the removing.
It is,and has always been a political hot potato irrespective of who is doing the removal.

You are the one bringing senseless political overtones and innuendos and conjectures into this simple economic matter.

I don't envy you one bit, given that you're obviously suffering from cognitive dissonance,desperately trying to defend now what you supposedly faught against during GEJ.
Holding two contradicting views, one during GEJ and one during PMB is the dictionary definition of cognitive dissonance , a horrible, vexatious state of mind.

I truly don't envy you guys right now.

koboko69:


Leave that guy, he keeps whining about. He thinks he is smart . I am not gonna waste my time on him again

Lol.

Facts, my friend, facts are very stubborn things.
They sting like a Bee.

koboko69:


No subsidy was removed u say?

Now and I know you are a clown, landing cost of PMS as at 11th may was put at 119 naira and u say no Subsidy?

OK. Do us a favor by letting us know the arithmetic, how you arrived at that figure of N119.

More importantly, did you use N199 or N320 as the exchange rate to arrive at that figure

No matter the damage control op tries to put up, it won't fly. The subsidy in 2012 had not even taken root, you guys were bringing trust issues. Read the old papers, I still have them. It was about gej, okonjo, sanusi and co making life more difficult for the poor masses, it was not a money trust issue, money trust issue was so so peripheral.

plaetton:

My dear friend,
Common sense should always take precedence over politics.
Removal of SUBSIDY makes economic sense, irrespective of who is doing the removing.
It is,and has always been a political hot potato irrespective of who is doing the removal.

You are the one bringing senseless political overtones and innuendos and conjectures into this simple economic matter.

I don't envy you one bit, given that you're obviously suffering from cognitive dissonance,desperately trying to defend now what you supposedly faught against during GEJ.
Holding two contradicting views, one during GEJ and one during PMB is the dictionary definition of cognitive dissonance , a horrible, vexatious state of mind.

I truly don't envy you guys right now.

Spot on! Thank you jare

plaetton:

My dear friend,
Common sense should always take precedence over politics.
Removal of SUBSIDY makes economic sense, irrespective of who is doing the removing.
It is,and has always been a political hot potato irrespective of who is doing the removal.

You are the one bringing senseless political overtones and innuendos and conjectures into this simple economic matter.

I don't envy you one bit, given that you're obviously suffering from cognitive dissonance,desperately trying to defend now what you supposedly faught against during GEJ.
Holding two contradicting views, one during GEJ and one during PMB is the dictionary definition of cognitive dissonance , a horrible, vexatious state of mind.

I truly don't envy you guys right now.

Lol. Stop playing with words..... , u are far from what u are desperately trying to prove. I guess u know what that means

plaetton:

OK. Do us a favor by letting us know the arithmetic, how you arrived at that figure of N119.
More importantly, did you use N199 or N320 as the exchange rate to arrive at that figure

Obviously u don't even know the meaning of landing cost.

Now Educate your self,

http://pppra.gov.ng/pricing-template-pms-2/

koboko69:


Lol. Stop playing with words..... , u are far from what u are desperately trying to prove. I guess u know what that means



Obviously u don't even know the meaning of landing cost.

Now Educate your self,

http://pppra.gov.ng/pricing-template-pms-2/

Fair enough.
Thank you.

But I would still be interested in knowing what exchange rate they used in their calculations.
The reason is that the government of Buhari has been pretending and living in the fool's paradise that Naira exchange is N200 to the dollar.

plaetton:


Fair enough.
Thank you.

But I would still be interested in knowing what exchange rate they used in their calculations.
The reason is that the government of Buhari has been pretending and living in the fool's paradise that Naira exchange is N200 to the dollar.

The website i gave u as a contact section. Mail them and ask the above question.

Good night!

koboko69:


The website i gave u as a contact section. Mail them and ask the above question.

Good night!

Good night friend.

OrlandoOwoh:
I've come to realize that GEJ/PDP supporters have not come up with any reason, whether plausible or otherwise, why the removal of subsidy, as they're wont to make us believe, is wrong. Their only objection is because when GEJ attempted it in 2012, it's resisted. Na wa for una o.

[size=13pt]I don't think they are saying it is wrong. Well if they are, that is their own position.
I personally think it is right.
But the thing that stands out now is that it seems most of the political class that opposed it then knew it was the right thing to do
so many citizens are feeling scammed.
And nobody likes to feel he has been made a fool of[/size]

I got this from somewhere on facebook:

[size=13pt]"Imagine that: The APC and Buhari's regime have now scrapped the fuel subsidy. These are the same people that made me and Omoyele Sowore (Publisher, Sahara Reporters) dance like ancient fools in front of the World Bank and IMF in Washington DC AGAINST the removal of fuel subsidy. There is even a video of me dancing like an inebriated Alaka (Oloo, dolt, I am talking about Ola Rotimi's The Gods are not to Blame!) My son, Tolu Ogunlesi, you see ya people? Una nor dey respect old man at all at all! So, what has changed since 2012 other than your hated Goodluck Jonathan has been swept off by propaganda and lies, what? Do y'all now see why I do not respect many of you? Even Tinubu that sent us to fight against the removal is now FOR it. My fat head spins! Olodumare will judge all of you! Nonsense!"..Pa Ikhide[/size]

koboko69:


Lol. Stop playing with words..... , u are far from what u are desperately trying to prove. I guess u know what that means



Obviously u don't even know the meaning of landing cost.

Now Educate your self,

http://pppra.gov.ng/pricing-template-pms-2/

Your buhari refuse to devalue the naira and said its at #199 and keeps telling Nigeria that its the price for exchange, why will you calculate those stuff with an exchange rate higher than #199

I don't get our trying to justify or make sense out of what d govt has done. From the stats u dug up, isn't it obvious then was a more conducive time to have removed subsidy than now? Atleast d govt would have rid itself of d distraction of fuel scarcity/subsidy and faced it's war on corruption squarely.. Now u even contradicted urself wen u claimed the govt's basis for total subsidy removal was massive corruption yet u blamed the govt for going ahead to remove it then but now applaud dis govt for doing same d difference being dat one is supposedly fighting corruption and d other wanted to simply stop the rot by ending the whole process once and for all.

Truth b told, D APC preyed on the ignorance of Nigerians and fed them hogwash about the whole fuel subsidy scheme. Saying the protests were more about the govt's corruption issues and d masses not trusting d govt is laughable and a fallacy which is only in ur heads. Incase u have forgotten, d govt then was still basking in the glory of having won the elections a couple of months earlier so d OccupyNigeria protests were simply borne out of falsehood and misinformation of the public by the subsidy beneficiaries and the opposition at the time.. Nigerians are angry and frustrated but too tired to want to do anything about it dis time.

From the stats u provided, isn't it obvious d economy would have been beta prepared for subsidy removal then than now? D naira is on a freefall, d economy is ailing like u said with inflation rates hitting double digits, and everything all on a minimum wage of 18000. And D forex limitations is actually a working of the govt even though experts have advised on d restrictions to b eased up. U can talk about protesting for pay increase instead but here's the contradiction again, how's d govt going to afford it considering most state govts are claiming to b finding it difficult to pay. Im assuming u're aware of how many times dey've had to receive bailouts to dat effect. Granted subsidy had to go but it could have gone before now and by now we'll have been far on the road to recovery and having stability in the Petroleum sector.

I listened to a recording today of an interview Mrs Okonjo Iweala granted d media the scarcity dat riddled the nation in the last couple of months of the administration and then I realized d so much fallacies and falsehood fed d masses all in the name of campaign by the opposition. She stated categorically dat dey inherited a subsidy payments deficit of almost 2trillion which dey subsequently serviced down to 200billion which contained over 150billion which marketers claimed was for foreign exchange differential. D scarcity arose wen d govt insisted on investigating what d hell foreign exchange differential was. We don't always have all d information and as such we let d sentiments in us decide what to do with d little information we are fed. Enough with trying to justify and give urselves d satisfaction of convincing urselves and others if d govt is right or wrong and don't blame Nigerians for complaining. U shld rather try to convince Nigerians to take it in gud faith, hope for the best and ignore the hypocrisy