hazyfm:



You are the New Wailing Zombie


What a reformed name for PDP Wailers

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 to 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 e.t.c. 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" clause. 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 but 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 and 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 an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the 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 price 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 amd miscreants 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.

Abagworo:
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.

Geniro:
What nonsense is this zombie saying ?

plaetton:
...

coolscott:

[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]

Abagworo:


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

ehissi:


Point of corrections! As at the time Baba Yar Ada closed eyes, we had $3Billion in our foreign reserves, stop throwing lies. There was nothing robust about our foreign reserves. That is the new lie that the APC government and their friends are telling people.

A lot of people clapping for the 2016 budget Aka "Budget of change" didn't even know that subsidy was silently removed, yet they were clapping for Mr President.

Shame on them. They have only proven Jonathan to be a leader of thought and a man of fore-sight. If he could consider doing what Buhari is trying to do now when we weren't in a tight corner economically imagine what he would have achieved if Nigerians were patient till the 2015 polls.

You also erroneously forgot to mention that Jonathan created Palliative measures, oya since you sabi talk, start listing the measures put in place to ensure that Nigerians aren't made to suffer.

The last time I checked, President Buhari's reason for not devaluing the Naira and applying currency restrictions was because he didn't want to cause Nigerian more hardship.

The subsidy removal na enjoyment ba? Make una continue to deny support rubbish. In any case, PPPRA board - Which hasn't even been constituted - is constitutionally responsible for reviewing the price of petrol in Nigeria.

If you remember clearly, January 2012, it was the PPPRA that announced the review in the pump price of petrol and not Ministry of Information nor the Presidency.

It's not even a matter of whether the policy is right or wrong, it is illegal. Only a fantastically co--up- President will allow such a breach our Nations laws just because he thinks he knows it all, can do it all, he has all power and everybody in Nigeria is a thief except him and The Late General Sani Abacha.

In any case, President Buhari lied on Aljazeera, when he was cornered on FX currency restrictions, and how parents couldn't get FX at official rate; President Buhari said only critical sectors of the Nation would have access to forex at the official rate.

So the petroleum sector is not critical enough ba? But his daughters school fees and education in the UK is critical enough compared to petroleum or even the school fees of other Nigerians who send their kids to school overseas.

For the record, are you even aware that it is possible that some of these Niger delta avengers are linked to the ex-militants who were thrown out of schools abroad and professional institutes overseas because of the governments refusal to pay their school fees.

What arrangements have been put in place to ensure that despite government's change of plan of them doing courses abroad that Nigerian schools don't offer, that these we folks aren't misled to take up arms again as a result of frustration ??

Some of these folks finished their education under Jonathan, some of them are trained pilots today, marine engineers etc and are not under obligation of the amnesty program. It's the unlucky ones that are suffering under this our Fantastically Co--up- President, yet he is there making mouth as though he didn't doesn't understand who the Niger delta avengers are.

Jonathan had Boko-Haram to deal with and you say it's inexcusable; Fulani herdsmen that are killing people like Lassa fever that is ravaging the country is that one excusable??

This government, by Kaichukwu's own assertion has experienced the worst fuel scarcity in the History of Nigeria in over a decade, stretching over 9months (9months whey mama don born baby finish); common Lassa fever that Irrua Specialist hospital in Edo state will test and diagnose under 2hrs and commence treatment is killing people more than even Boko-haram suicide Bombers.

Go to Virology Department in University of Ibadan Teaching Hospital and ask for LASSA Fever test, they will take sample and ask you to come back after 2days - meanwhile the current health minister na former VC of University of Ibadan. By 2 days the LASSA fever never kill person finish; but with favour with God and with man, and without considering party differences GEJ was to address the Ebola crisis at a time when there was no clear cure for Ebola. In states that were even at political variance with him, Lagos and Rivers.

Na fuel subsidy una even deny use dey talk matter, una never even ask how stew take dey don nowadays, with the current food shortages and instead of Buhari to review agricultural policies forward, he reviewed them backward in favour of oil. Spending far less than Jonathan invested inAgriculture in the 2015 budget and Jonathan wasn't even aggressively pursuing diversification. Just imagine.

Be supporting rubbish Oooh!!! You hear!! I just hope like Utomi said, Buhari no make people dey queue for salt and rice.

Yaradua:

EXTERNAL DEBT:
Inherited: Almost Zero Billion Dollars

Left: $3.94 billion Dollars

http://www.dmo.gov.ng/oci/News/docs/Fact%20on%20%20Nigeria%20External%20Debt%20Stock.pdf

EXTERNAL RESERVE
Inherited: $45.0 billion

Grew To: $63 billion in September, 2008
http://www.nigerianmuse.com/20090102021223zg/nigeria-watch/nigeria-s-foreign-reserves-dip-to-52-7-billion/

Left : $47. 7 billion (As at Dec 31st 2009 when Jonathan took over as "Overseer"wink

http://www.vanguardngr.com/2011/03/state-of-nigerias-external-reserves-worrisome-cipm-president/#sthash.cXXdNcoU.dpuf

N/B:
The reserve grew when the price of Crude Oil was $147 per barrel
It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009, till his death

dmostcheerful:

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

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.

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 to 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 e.t.c. 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" clause. 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 but 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 and 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 an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the 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 price 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 amd miscreants 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.

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.

ISpiksDaTroof:
Yes, he raise minimum wage to N18,000 while his Senators earn $2million and his wife (Patience Jonathan) was also hired as a Permanent Secretary in Bayelsa. Youre a really smart one, aren't you?

Oz4realsss:


Very interesting! Jonathan's government was incompetent but your darling Buhari's government is not. However, the facts that are available do not support your claim. For example, every economic index he met have gone from bad to worse. Cost of staple food has equally skyrocketed. A bag of rice and a basket of tomatoes now go for 18000 naira and 35000 respectively. Despite these staggering realities, your darling government is not as incompetent as the immediate past government?

You also forgot to add the "billions of dollars" recovered from the corruption charade as a 'fact'. Is it that it is not a fact after all? Will this also not make forex to be abundant for all the oil marketers? Your hypocrisy stinks to high heavens.

Indeed, corruption has been nipped in the bud in the oil industry simply because you said so. Where are the verifiable facts that suggests so? What do you also call the uneven allocation of about 90% ownership of oil wells in the Niger Delta in the hands of the North? Indeed, it is not corruption but their birthright!

What makes you think the NDA are miscreants and misguided? Have you met or conducted an interview with them to arrive at your wide hypothesis? Do you care to know their agitations? They cannot be miscreants simply because you said so.

I do not count my chickens before they are hatched; I don't know about you. If plans are really underway for our refineries to operate at full capacity and if new refineries are coming on board to support local production, let all these plans be realized before subsidy is removed.

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.

successmatters:
Some people are so dull that they will defend their killer till they reach hell fire, kontinu.

koboko69:




Am tired of educaring your lots. Even the economiat ur celebrate every now and then kept warning about how bad the economy was gonna be, and even vindicated the present administration by saying Jonathan's government lacked the WILL to save during the time of plenty and also further explained that, its the reason why Nigerians are going through what they are today. A quick google search will give many links to that article.
Further more, it is not Buhari that crashed the oil prices, where Yaradua was able to defend the Naira when oil dropped to as low as 35usd per barrel because of a robust forex reserve which grew from about 42 bn dollars to 68 bn dollars when he assumed office, Buhari is not able.to.do so, cos our treasury was looted and the foreign reserve stood just about 30bn dollars at Jonathan's exit.
Inflation is expected when things are like this, and as for tomatoes, we all know ita as a result of 2 reasons, the Virus that attacked the tomatoes plantation nicknamed tomato ebola, and the dangote tomatoes paste factory. U all claim the North is useless, but just an issue with tomatoes in the Norrth and Middle belt, we all are groaning.
So the bag of rice blabla is stale and null as every other oil dependent country is experiencing same inflation even Almighty Saudi Arabia. So far so good Nigeria as faired well amongst others..Even your hero was already borrowing to pat salaries at 57usd per dollar, so spare us all these tales and face reality. Good day!

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.

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 to 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 e.t.c. 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" clause. 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 but 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 and 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 an ailing economy. NNPC could not sustain solely importing petroleum products, and there is not enough Forex to give major oil marketers to handle the importation of petroleum products. It should also be noted that the 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 price 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 amd miscreants 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.

Geniro:
What nonsense is this zombie saying ?

Standing5:
Gej wasn't trusted by even governors (APC n PDP). They preferred to share excess fund as it was being looted via phony federal expenses like BH war and so the masses were right to feel the same way and reject subsidy removal which put more money in the hands of the federal govt.
The Jonathan govt didn't show sign of blocking leakages at federal level but wanted to throw more money at the corrupt system, Buhari govt on the other hand showed its readiness to block leakages before going ahead to throw more money at a less corupt system.
The difference is clear.

A7:


Your minimum wage buddies are 0.5(reoccuring)% of the total population(1 million max). The combined Fg and states civil servants are at maximum 1.85% of the populace(fg:90,000 36 states: 3,240,000)

What will happen to the rest 98% of the populace?.

Do you know how much this subsidy of a scam is fleecing us of our common wealth? Do you know that Buhari inherited N600bn of subsidy debt from your hero?

Abagworo:
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.

989900:
For the title of your article, you've done justice.
And it seems GEJ sympathizers have forgotten that subsidy payments going from N300b to over N2 trillion was why sane people got mad, and at the end of the day, subsidy was actually partially removed.

Subsidies are actually a good gesture, governments naturally subsidize the populace in one form or the other, but for the bastardization of the good gesture, we all basically agree subsidy must go, but at the right time: when we no longer depend on imported fuel, or have greatly reduced our dependence on imported fuel.

That said, on the overall, after almost a year in power, I'm not going to make excuses for Buhari's government's inability to tackle pipeline and oil installations vandalism, and cross-border smuggling, nor am I going to make excuses for its inability to have the old refineries working or modular refineries chipping in their bits. The APC won the election in March 2015, enough time for preparations.

As it is now, what we have is a cosmetic solution to a fundamental problem: if we do not get refineries (old and new) doing their thing, should oil prices sell for around $70/barrel, or the Naira continues to free fall, then pump prices will go north, or reversal to paying subsidies.

Our only 'get-away' is to find a way to make the Naira stronger, and drastically eliminate importation of refined fuel.