Geniro:
What nonsense is this zombie saying ?

elampiro:

Did Buhari not significantly raised the budget?

hazyfm:


Another Wailing Zombie spotted in 4D

hazyfm:


Another Wailing Zombie spotted in 4D

MIM77:


Politics aside. Not a supporter of any party because they are all the same. The current government is in a very tight corner in terms of inflow of resources. It doesn't have the resources to increase salary or allowances. The last revenue shared from the federation account was N299Billion and the share of the federal government out of it is N157.5 Billion while the salary bill of federal government staff for April was N165 Billion. Now where is the capacity to increase salary/allowances? On the issue of subsidy payments, the government spends close to a Trillion naira every year which is about a quarter of the budget, yet pms is not sold at the government pump price across the country. Few people have been claiming subsidy in billions of naira and marketers divert this product and sell it at a high price. The bane of our situation as a country is over dependence on oil. Heard of an example of the sharp practices of marketers in Yola, that 70 tankers were billed to be delivered there but only 7 tankers arrived while the balance diverted. I am in support of the move by the government to remove the subsidy not because i know where the money to meet up the additional expenses will come from but because only few people are getting richer and richer from the policy while the government is subsidizing the product. May God bless Nigeria.

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

donphilopus:


Be innovative, counter his claims and stop the stale namecalling.

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.

topsy23:
Subsidy official N86.50 black market N180,N200. No subsidy official N145 black market N200,N250. Clueless Administration.

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.

koboko69:


Firstly, Nigeria earns its forex from crude? Oil is sold at 38usd or there about. As at last year it costs about 30usd to get a barrel of oil out of the ground. Oil doesn't pump itself . Which leavels the government with just about 8usd to play around with. Bare in mind oil sold below 30usd cost of getting oil out of the ground. Jonathan had forex as he was selling above 100usd. While his predecessor was able to grow the 42bn dollars left for him by OBJ to 68 billion dollars, which later dropped to about 47billion dollars left for Jonathan as a result of Sanusi defending the naira with our reserves, Jonathan was his gang of robbers kept on depleting the reserves. Mind you there was also controlled Fx during last melt down and oil price drop but was lifted by SLS when oil price became higher. The question is how much did Jonathan leave for this administration and how much forign debt did he leave. His predecessor before his dismiss left about $3.94 billion Dollars external debt, how much was it when Jonathan left office? To top this, there is no forex to give marketters for importantion hence they are forced to source from the black market. Will devaluing the Naira actually make Fx available? If Jonathan had left enough, there will have been some sort of cushions. Even your Almighty Iwealla stated clearly Nigeria is facing this crises because of the drop in oil, and lack of Political will by Jonathan's government to save. Bare in mind Jonathan's government was already borrowing to pay salaries at 57usd per barrel. I am tired of all these sensless mentions.

kinibigdeal:


How did you pass essay in school? Did you really understand the questions at all. Please re-read or ask someone clever to interpret it to you

OrlandoOwoh:

Was APC a party when the protest against the removal of subsidy held in January 2012?

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.

myhotbrain:


Sir,

"...the government of Buhari has NOT been pretending and living in the fool's paradise that NAIRA exchange is N200 to the dollar."

The truth is that CBN official rate remains N200 to $1 whilst the Black market rate fluctuate between N300-N350 to $1. The importers of petroleum products enjoys the official RATE of N200 to $1 but unfortunately, when there is NOT enough dollars by CBN to sell to the importers due to lower federal government revenue because of low crude oil price, what will and should government do?

FOR THE LAY MAN:

1) CBN IS THE BANKER OF ALL BANKS AND THE BANKER OF THE FGN

2) THE FEDERAL GOVERNMENT SELL CRUDE OIL IN DOLLARS.

3) WHEN THE PRICE OF CRUDE OIL IS HIGH, FGN MAKES MORE DOLLARS THUS HAVE MORE DOLLARS TO SELL.

4) WHEN THE PRICE OF CRUDE OIL IS LOWER, FGN MAKES LESS DOLLARS THUS HAVE LESS DOLLARS TO SELL.
(BECAUSE PRICE OF CRUDE OIL HAS BEEN VERY VERY LOW FOR OVER 18 MONTHS NOW IS WHY GOVERNMENT STOP SELLING DOLLARS TO BUREAU DE CHANGE AND ALSO BANK THE IMPORTATION OF SOME NON ESSENTIAL GOODS AS WELL AS EXCLUDED SOME OTHER GOODS FROM ACCESSING THE OFFICIAL CBN RATE OF ACTUALLY N198 TO $1. OR ROUNDED UP WE SAY N200.

5) FEDERAL GOVERNMENT SELL DOLLARS TO IMPORTERS OF FUEL AT OFFICIAL RATE. BUT SOMETIMES THE FEDERAL GOVERNMENT MIGHT NOT EVEN HAVE DOLLARS TO SELL BECAUSE THERE IS NOT ENOUGH. SO THE IMPORTERS HAVE TO SOURCE FOR DOLLARS ON THEIR OWN OR NOT IMPORT AT ALL WHICH MIGHT CAUSE SHORTAGE OF FUELS AND RESULTED TO SCARCITY OF FUEL AND LONG LINES AT THE FILLING STATION.

6) GOVERNMENT NOW IS SAYING THAT THEY WANT TO GET OUT OF SUBSIDY ALTOGETHER BECAUSE OF ALL THE PROBLEMS INVOLVED BUT OF COURSE, WILL STILL REGULATE THE PRICING MODULE THIS IS WHY MR IBE KACHIKWU SAY PRICE OF PETROL WILL BE BETWEEN N135-N145.


ADVICE:

1) QUESTIONS SHOULD BE ASKED OF GOVERNMENT SUCH AS:

A) CAN ANYBODY NOW IMPORT FUEL AS THEY WISH JUST AS AGO,
B) CAN THE IMPORTER ACCESS OFFICIAL DOLLAR RATE OR THEY ARE OYO (ON YOUR OWN)
C) WHAT IF CRUDE OIL PRICE INCREASES SHARPLY IN THE INTERNATIONAL MARKET AND PRICE OF PETROL RISES ALONG WITH IT? WHAT SOCIAL PALLIATIVE WILL BE EMPLOYED TO ASSUAGE THE EFFECT?
D) WHEN WILL THE NEW REFINERIES COME ON BOARD?
E) HAVE THEY OFFICIALLY EXIT THE KEROSENE SUBSIDY REGIME AND CAN ANY IMPORTER ALSO ENGAGE IN THAT IMPORTATION.
F) WHEN WILL THEY DISTRIBUTE THE FREE GAS CYLINDERS TO THE POOR MASSES AND WHAT INFRASTRUCTURE WILL THEY HAVE ON GROUND SO THAT EVERYONE WHO NEEDS GAS CAN ACCESS IT AT A FAIR PRICE AND ADEQUATELY?

2) LABOR UNIONS SHOULD ASK FOR IMMEDIATE REVIEW OF THEIR SALARIES TO AT LEAST, DOUBLE OF WHAT THE CURRENT MINIMUM IS I.E. N36,000.

3) WE MUST DEMAND FOR A WELL FUNDED AND WELL EQUIPPED POLICE FORCE AND OF COURSE, MORE RECRUITMENT; THAT APPROVED 10,000 RECRUITMENT SPOT IS DEFINITELY NOT ENOUGH, WE SHOULD BE TALKING OF A YEARLY INCREASE OF MINIMUM 50,000 FOR THE NEXT TEN YEARS.

WHY? BECAUSE THE FEAR OF AN EFFICIENT NON-BRIBE TAKING POLICE FORCE IS THE BEGINNING OF ORDERLINESS, CRIME PREVENTION AND ENFORCEMENT. GO SEE THE DEVELOP WORLD. THE MERE SEEING OF A POLICE CAR BEHIND YOUR OWN IS THE ULTIMATE REASON TO OBEY ALL TRAFFIC LAWS.

WE ARE SICK AND TIRED OF SEEING POLICE OFFICERS AS BEGGERS ON THE STREET AND EXTORTIONIST IN THEIR POLICE STATIONS.

CONCLUSION:

SUBSIDY OF PETROLEUM PRODUCTS MUST GO AND NEVER REAR ITS UGLY HEAD AGAIN.
ASIDE OF THE WASTE WHICH IT HAS BEEN CONSTITUTING FOR SUCH A LONG TIME. IT IS ALSO A SHAME ON OUR COLLECTIVE INTELLIGENCE THAT WE ARE IMPORTING PRODUCTS IN WHICH WE HAVE COMPARATIVE ADVANTAGE IN THE SOURCE OF RAW MATERIALS FOR THOSE PRODUCTS.

RATHER THAN IMPORTING FUELS, NIGERIA SHOULD HAVE BEEN THE AFRICAN LEADER IN THE EXPORTATION OF REFINED PRODUCTS AND THIS IS WHY I HAVE ALWAYS SUPPORTED SUBSIDY REMOVAL.

AM USING THIS OPPORTUNITY TO CALL ON ALL MONEY-BAGS TO JUMP ON THIS SHIP NOW: BUILD REFINERIES EITHER MODULAR OR GREENFIELD, BUILD GAS DISPENSING DEPOTS...THESE ARE BUSINESSES FOR THE PRESENT AND NOW...

GOVERNMENT SHOULD ALSO ENCOURAGE THE USE OF DUAL POWER FOR THE ROAD TRANSPORT OWNERS I.E. ENACT LAWS WHICH WILL MAKE ALL BUSES USE BOTH GAS AND PETROL SO THAT WE CAN REDUCE THE USE OF PETROL.
FYI: NIGERIA IS SAID TO BE THE 4TH LARGEST OWNER OF GAS RESERVE...WE CAN START TO HARNESS THE POTENTIALS OF THIS RESERVE AND USE ITS PROCEED TO BENEFIT OUR PEOPLE.


TAKING A BREAK FOR NOW

PEACE!

Seyrexolad2706:
ON THE NEW PRICING TEMPLATE FOR PMS.

If you are comparing the planned removal of
subsidy on PMS in January 2012 to the removal of
subsidy in 2016, I wish to respectfully tell you to go
back to School.
If you think N145/litre in 2012 has the same value
as N145/litre in 2016, you need to go and dust you
Basic Economics Textbook.
If you didn't know that Nigeria was earning $110.99
per barrel of Crude Oil in 2012 with its attendant
availability of Fx for Importers to bring in Products
at the rate of N150/$, you need to go and dust up
your old Newspapers.
If you didn't know that that there is extreme dearth
of Fx from CBN, which makes Importers wait for
weeks to get Fx to import the fuel you buy at the
Pump, which is why there is scarcity, you need to
pay attention to what is going on around you.
If you didn't know that Importers have been
incurring losses or just eking by to get your PMS to
you at the pump for the past months, you, you need
to be grateful a bit more.
If you didn't know that Saudi Arabia, a Country with
$627billion compared to Nigeria's $27billion, had to
remove subsidy on Petrol, Electricity and Water few
months ago, you need to read more serious News
on the Internet instead of wasting your time on
Linda Ikeji.
Yes, I opposed removal of Subsidy in 2012. As
confession, I even administered onr of the Occupied
Nigeria handles on Twitter from my desk in Onitsha.
With the information we are getting about how GEJ
Administration squandered our Commonwealth, I am
happy I opposed it. The savings from Subsidy would
have been frittered away too. A Government that
left hundreds of billion of Dollars in Short Term
Liabilities to the incoming Government but a paltry $
2.1billion in ECA, cannot be trusted to use the
savings from subsidy removal judiciously.
CAUTION
I however, wish to sound a note of caution to those
of you that think queues will disappear immediately
at the Petrol Stations.
It will not disappear, at least, in the next two weeks.
Retailers will not commit so much to purchase PMS
at Ex-Depot price because of fear that the
Government may rescind on it decision to remove
subsidy because of pressure.
Nobody wants to buy PMS at N145/litre in the
morning and be ordered to sell it at N100/litre in the
evening.
If after two weeks, the Government's decision
stands, expect supply glut at Petrol Stations.

God bless Nigeria
I Stand With Buhari

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.

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.

youngeagle:
please go face the queues in fuel station...hypocrisy will only worsen your situation

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.