Both FG and organised labour are bunches of mad people. Is that meant to be a subsidy or what?

���� when this man finish dealing with una, next time if another illiterate comes out to rule una, una go vote with sense���

Too small...

Laughable

Goldencheese:
How many times has this government increased fuel this year? How about light, taxes, food items and so many things. On top of it, no security for Nigerians.

What a government!

That is what happens when a country of over 200M (Nigeria) is being ruled by a Fulani man from another country of less than 25M (Niger Republic

Nigeria don enter ONE CHANCE.

Iamdagreatguy:
Both FG and organised labour are bunches of mad people. Is that meant to be a subsidy or what?

It is an increase in the subsidy

Buhari does not really want to remove subsides and has never wanted to. If he removed subsides, fuel would be retailing for N200 and above per liter...which is very politically expensive for him.

The problem is, if Buhari wants more refineries, and better/increased production of fuel aqt home, subsides have to go.

Niger is selling us fuel. They sell fuel in their country at N374 per liter...so they can make a profit to pay for the upkeep of their refinery...and even export elsewhere.

dannyspeejay:
Buhari will never make it in life

He has already made it in life my brother.
God should just help us to punish him na the only prayer.

Goldencheese:
How many times has this government increased fuel this year? How about light, taxes, food items and so many things. On top of it, no security for Nigerians.

What a government!

So you want government to slash the price of fuel....meaning that marketers would be selling fuel at a loss, NNPC would be loosing money subsidising fuel and subsidy cabals would be smiling to the bank with more cash, plus Dangote would be running his refinery at a loss?

You would like the resultant job losses and chronic fuel scarcity that results?

How about taxes? Oil, our major earner has gone down. Our tax to gdp ratio is 5.8% (for Ghana IT IS 23%, South Africa it is 24%, Canada it is higher). Either taxes go up or we take even more loans.

Finally you want government to impose price Controls on other people's businesses, while you 'enjoy' low prices. That means even lower production of food, because people would no longer be incentivized to produce food...especially as they would have zero profits.

If you want a good economy, you have to allow people make a profit. Not allowing profits to be made in the oil sector is why we are now importing and have been importing fuel from countries that do make a profit in the oil sector.

With this your analysis, and it is good, when Nigeria is no longer making money, shouldn't the earnings of politicians be reduced? Shouldnt the cost of governance be reduced? Look at your president, they even budgeted rent for Aso Rock?

How can a country tagged as being the poverty capital of the world parade a band of politicians who earn the highest in the world? O wrong na. It is absurd na.

If all the loopholes created by the Buhari administration are plugged, great savings would be made to buffer the economy. But no. Do you know that during these austere times, the budget for maintaining Buhari has tripled? Yet we keep on doling out one-sided economics without balancing our ratiocinations with social realities.

Claudiusdeux:


So you want government to slash the price of fuel....meaning that marketers would be selling fuel at a loss, NNPC would be loosing money subsidising fuel and subsidy cabals would be smiling to the bank with more cash, plus Dangote would be running his refinery at a loss?

You would like the resultant job losses and chronic fuel scarcity that results?

How about taxes? Oil, our major earner has gone down. Our tax to gdp ratio is 5.8% (for Ghana IT IS 23%, South Africa it is 24%, Canada it is higher). Either taxes go up or we take even more loans.

Finally you want government to impose price Controls on other people's businesses, while you 'enjoy' low prices. That means even lower production of food, because people would no longer be incentivized to produce food...especially as they would have zero profits.

If you want a good economy, you have to allow people make a profit. Not allowing profits to be made in the oil sector is why we are now importing and have been importing fuel from countries that do make a profit in the oil sector.

fergie001:
Following the resumption of talks between the Federal Government (FG) and the leadership of the Organised Labour over the recent hike in the price of fuel and electricity tariff, the FG has agreed to slash fuel price by N5.

It will be recalled that the Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, in November, increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre.

The implication of which, allows Marketers sell between N168 - N170 per litre.

Following heavy backlash, the FG slashed N2 from the depot price of N155.17 per litre, a move that still didn't sit well with the leadership of the Organised Labour who threatened mass action, if the price was not reverted.



TVC

If you have enough money as a young person and still love to stay in Nigeria you have brain disorder

Goldencheese:
With this your analysis, and it is good, when Nigeria is no longer making money, shouldn't the earnings of politicians be reduced? Should the cost of governance be reduced? Look at your president, they even budgeted rent for Aso Rock?

How can a country tagged as being the poverty capital of the world parade a band of politicians who earn the highest in the world. O wrong na. It is absurd na.

Reducing the salaries of politicians, while commendable, won't do much for Nigeria in the long term.We can collect all the loot from the polticans today, do a lot of good with it...and it is all fair and nice, till the money runs out...then what do we do?

Go and collect loot from the politicians again? Didn't we just collect all their loot before? Plus cut their salaries?

Plus plugging all the loopholes too, won't do much. The money to begin with isn't even enough. That's why the looting of past and present is evil. They are stealing from a treasury that is poor in the first place.

The issue is, we have to find ways to keep making money

That can be done by

1.Allowing DISCOS and GENCOS to set the prices for the power they sell. Yes, we go pay high prices for power...but...they will have the cash to improve power supply, which means more jobs and productivity.

2.Allowing marketers to set the price of petrol, not government. Profits would be made, which would attract investment into new refienreis, meaning more jobs.

3.Increasing taxes (yes, I don't like saying this)....which means more income (that's what Fowler was supposed to do at FIRS, but instead he came and did nothing).

On points one and two...Government allowed GSM companies into the country, they came and charged high prices (SIM cards used to cost N10000 and above, and one could not even get on the internet with them self)..but the profits made was reinvested into the sector...which meant more money and jobs, directly and indirectly.

Babangida Style: Increase Price by 60-100%
After much hue and cry,
REDUCE it by 5-15% and declare yourself a listening President.

So, th price remain increased by about 50%.
NLC leadership has betrayed the Masses and it started under Oshiomole, as NLC President.


NB: I can see one #15,000/month BMC character using multiple monikers to attack posters that say anything aginst the Govt

Fellow Nigerians what can 5 naira buy in the market now? FG weak up u are sleeping on duties

and some pple will still come up here to say fg has try...... i always laugh sha ................

I like your analysis, so if the government knows that it wants the oil industry to self-regulate, why are they saying they would reduce the price of fuel by N5? Shouldn't that be determined by market forces, too?

Claudiusdeux:


Reducing the salaries of politicians, while commendable, won't do much for Nigeria in the long term.We can collect all the loot from the polticans today, do a lot of good with it...and it is all fair and nice, till the money runs out...then what do we do?

Go and collect loot from the politicians again? Didn't we just collect all their loot before? Plus cut their salaries?

Plus plugging all the loopholes too, won't do much. The money to begin with isn't even enough. That's why the looting of past and present is evil. They are stealing from a treasury that is poor in the first place.

The issue is, we have to find ways to keep making money

That can be done by

1.Allowing DISCOS and GENCOS to set the prices for the power they sell. Yes, we go pay high prices for power...but...they will have the cash to improve power supply, which means more jobs and productivity.

2.Allowing marketers to set the price of petrol, not government. Profits would be made, which would attract investment into new refienreis, meaning more jobs.

3.Increasing taxes (yes, I don't like saying this)....which means more income (that's what Fowler was supposed to do at FIRS, but instead he came and did nothing).

On points one and two...Government allowed GSM companies into the country, they came and charged high prices (SIM cards used to cost N10000 and above, and one could not even get on the internet with them self)..but the profits made was reinvested into the sector...which meant more money and jobs, directly and indirectly.

Goldencheese:
I like your analysis, so if the government knows that it wants the oil industry to self-regulate, why are they saying they would reduce the price of fuel by N5? Shouldn't that be determined by market forces, too?

Because , quite simply, it is politically expensive to remove fuel subsidy.

And, yes, allowing market control of price can lead to increased prices for things like food ..and other things....which can have knock on effects on the economy.
On the other hand, chronically low oil prices since 2014 means that there isn't enough income to pay for keeping the price of fuel low....which means that in order to keep prices low, government has been spending more of our revenue on subsides, while taking loans to cover up.
(The ultimate catch-22 choice).

I tend to lean towards 'subsidy removal' not because I like the initial effect of high prices but because long term, it means more investment, more jobs, and crucially an increase in refining capacity, since it is now profitable to refine fuel at home.And it ideally means more savings ..less incentive to take loans to cover up. Plus if we can increase tax to gdp ratio....more income .....

But the problem is, we Nigerians don't like high prices. Even if the cost of maintaining low prices means a bad economy and more loans.

Excuzeme:
Babangida Style: Increase Price by 60-100%
After much hue and cry,
REDUCE it by 5-15% and declare yourself a listening President.

So, th price remain increased by about 50%.
NLC leadership has betrayed the Masses and it started under Oshiomole, as NLC President.


NB: I can see one #15,000/month BMC character using multiple monikers to attack posters that say anything aginst the Govt

IF you understood how subsidies have weakened the oil sector, you won't be saying this.

It is because government has been keeping prices low over the years that NNPC hasn't had enough cash to maintain, upgrade and fix its refienreis, and even build new ones.

Price controls are the reason why out of the 60 licenses issued for fuel refining in Nigeria, less than 20 are active...and even some of them aren't for refining fuel.

Niger is exporting fuel to us. Niger sells fuel in their country at N374 per liter. As a result, Niger has the profit to maintain, upgrade and fix their refinery...a JV between their government and the Chinese oil company CNPC.

And it is because fuel is subsidized here that we have things like guys smuggling fuel to Benin, Niger and Cameroon, and selling fuel there at a profit (Government shut the border for them, but even then, for how long? We have to trade).

If you were a businessman, would you accept government forcing you to lower your prices for the benefit of the poor?

morgstreme:


Your late WRETCHED ILLITERATE FATHER never made sense,E come be you..

Electricity tarrif isn't determined by the FG as PHCN was unbundled and sold to the private sector....the DISCOS determine tarrif,more or less..

There IS NO subsidy anymore..Go and "study" what subsidy PORTENDS in our clime and then go read up the July 2020 resolutions between FG/NERC/NBET ..

You don't even know what the NLC stands for..NLC is ALL ENCOMPASSING..The NLC is also at the root of negotiations between the FG and ASUU..ASUU is under the NLC..PENGASSAN is under NLC .JOHESH is under the NLC..TUC is under the NLC...But how will dimwitted children like you know

So how did Buhari destabilize the NLC

This unintelligent Empty character..

You need to be intellectually EMANCIPATED!

You’re just a foooooooool and I could bet that your father is an illiterate foooooool like you too.
I could gladly share with you with evidence that my father is an alumna of the university of Arkansas.... Where did your illiterate father school?

The determination of electricity tariffs in Nigeria is carried out by the Nigeria Electricity Regulatory Commission (“NERC”) ...this doesn’t mean that the Federal Government (“FG”) can’t move in to fund the revenue gap or tariff shortfall, calculated as the difference between the cost-reflective tariffs and the actual end-user tariffs payable by customers.

From the public hearings and consultations, the end user customers are not getting a tangible improvement in quality and quantity of electricity supply we never agreed to pay increased tariffs.

I like your analysis and logic.

Thanks for sharing your time and brilliance with me.

Claudiusdeux:


Because , quite simply, it is politically expensive to remove fuel subsidy.

And, yes, allowing market control of price can lead to increased prices for things like food ..and other things....which can have knock on effects on the economy.
On the other hand, chronically low oil prices since 2014 means that there isn't enough income to pay for keeping the price of fuel low....which means that in order to keep prices low, government has been spending more of our revenue on subsides, while taking loans to cover up.
(The ultimate catch-22 choice).

I tend to lean towards 'subsidy removal' not because I like the initial effect of high prices but because long term, it means more investment, more jobs, and crucially an increase in refining capacity, since it is now profitable to refine fuel at home.And it ideally means more savings ..less incentive to take loans to cover up. Plus if we can increase tax to gdp ratio....more income .....

But the problem is, we Nigerians don't like high prices. Even if the cost of maintaining low prices means a bad economy and more loans.

Goldencheese:
I like your analysis and logic.

Thanks for sharing your time and brilliance with me.

Thank you .

Confusion break bone.

Electricity is trouble...

popweezy:
If I fit manage see 2 million, tomorrow evening no go meet me 4 naija

HYPOCRITE! Naija no good yet you want to "make it" in the same naija & japa! God bless our dear native land of Nigeria.

I laugh in American.......

The problem with this price reduction is that the N5 is going to come from government coffers.

In other words, we are going to waste more money we don't have on fuel subsides

Which means, at the end of the day, we take more and more loans to make up for the money we have spent on fuel subsidy.

All because we Nigerians love cheap fuel.

popweezy:
If I fit manage see 2 million, tomorrow evening no go meet me 4 naija

you will go abroad.... Dey abroad still dey shout PROUDLY NAIJA

;D5# na money ni...

popweezy:
If I fit manage see 2 million, tomorrow evening no go meet me 4 naija

Which country and what job do you think of doing when you get there? Asking for a friend who already has the 2 million

Una dey buy fuel 147NGN still dey complain. We dey buy 500 NGN equivalent here with joy.

By the way,how much is a bottle of beer there? I know some of you used to drink 10 bottles with cat fish pepper soup.

So what is wrong in buying 10 liters for 1470NGN?

You guys should learn how to spend money in the right direction instead of wasting the money on beers and cat fish pepper soup carrying big tommy upandan.

I agree with your logic. However, I do not think this is novel or no other government has thought about this. The sincerity of the present government is in doubt.

Secondly, you cannot blame the common man opposed to the increased price because of its domino effect on other areas in the country. Other countries can afford to sell fuel at an exorbitant price because they are not really dependent on it and only use it for their cars. If electricity is stable, water is stable, Nigerians won’t really care if fuel sells at 500 naira. In developed countries, those people with cars are taxed more and people are encouraged to use public trains or buses.


Until we see some sincerity and accountability, I won’t blame any Nigerian for now.

Claudiusdeux:
The problem with this price reduction is that the N5 is going to come from government coffers.

In other words, we are going to waste more money we don't have on fuel subsides

Which means, at the end of the day, we take more and more loans to make up for the money we have spent on fuel subsidy.

All because we Nigerians love cheap fuel.