Nigeria is loosing too much to fuel subsidy.

Benin republic: 505cfa per litre (#357)

source: https://www.globalpetrolprices.com/Benin/gasoline_prices/

cameron: 630xaf per litre (#447)

source:
https://www.globalpetrolprices.com/Cameroon/gasoline_prices/

chad: 518xaf per litre (#367)

source: https://www.globalpetrolprices.com/Chad/gasoline_prices/

tell me why subsidy should not be scrapped and the money used for better things??

t
neighbouring countries are making good fortunes from our head..

Nigeria budgets over 30billion dollar of which $2.3billion about 8% of this funds is spent on subsidy.

does it makes sense to us loosing such amount of money? when such funds can be used to improve the standard of living rather.

jumper524:
Nigeria is loosing too much to fuel subsidy.

Benin republic: 505cfa per litre (#357)

source: https://www.globalpetrolprices.com/Benin/gasoline_prices/

cameron: 630xaf per litre (#447)

source:
https://www.globalpetrolprices.com/Cameroon/gasoline_prices/

chad: 518xaf per litre (#367)

source: https://www.globalpetrolprices.com/Chad/gasoline_prices/

tell me why subsidy should not be scrapped and the money used for better things??

t
neighbouring countries are making good fortunes from our head..

All these stats have been there before this govt came. Why make promises, break them on purpose then try to shove stupid data analysis down our throat on why subsidy should go away? Why?

jumper524:
Nigeria budgets over 30billion dollar of which $2.3billion about 8% of this funds is spent on subsidy.

does it makes sense to us loosing such amount of money? when such funds can be used to improve the standard of living rather.

The sane question is why subsidize what nature isn't charging you for? Fuel is free from the ND and I wonder why we have to subsidize what's freely flowing.
Let them make a thousand naira per litre if that what they want. Stop all these stupid gimmick.

jumper524:
Nigeria is loosing too much to fuel subsidy.

Benin republic: 505cfa per litre (#357)

source: https://www.globalpetrolprices.com/Benin/gasoline_prices/

cameron: 630xaf per litre (#447)

source:
https://www.globalpetrolprices.com/Cameroon/gasoline_prices/

chad: 518xaf per litre (#367)

source: https://www.globalpetrolprices.com/Chad/gasoline_prices/

tell me why subsidy should not be scrapped and the money used for better things??

t
neighbouring countries are making good fortunes from our head..

Which of those countries is producing a large amount of petroleum like Nigeria?

was going through an old post of a girl's conversation with sanusi.
the them cbn governor gave his stance on fuel subsidy and why it needed to be abolished.

https://www.nairaland.com/840702/email-conversation-sanusi-fuel-subsidy

saudi is having less leakages of their subsidized fuel today because virtually every neighbouring countries to saudi sells fuel at a similar price.
meaning there's lesser case of smuggling going on there.

CodeTemplar:
All these stats have been there before this govt came. Why make promises, break them on purpose then try to shove stupid data analysis down our throat on why subsidy should go away? Why?

you can blame them for fake promise and plan ahead or rather accept failure and keep yelling.
I read an old post of a girl's conversation with sanusi way back in 2011. during jonathan subsidy removal chaos.
even then the govt knew they were in a catch22 situation ( trying to do the right thing and at same time satisfy the people)
bro it's been a pending issue.

the govt better use that money to increase workers salary instead of subsidizing fuel for west africa and corrupt NNPC staffs.

BabaOwen:
Which of those countries is producing a large amount of petroleum like Nigeria?

saudi produces *5 the amount of oil we produce and yet a lite of fuel in saudi is 1.55 riyal (#156).
now saudi have less security issues of fuel smuggling because all neighboring saudi countries apart from Jordan sells fuel for less than #200.
so you see why the money for subsidy needs to be moved elsewhere.

CodeTemplar:
The sane question is why subsidize what nature isn't charging you for? Fuel is free from the ND and I wonder why we have to subsidize what's freely flowing.
Let them make a thousand naira per litre if that what they want. Stop all these stupid gimmick.

you think refining oil products to fuel is cheap??
check again.
saudi produces 5times what nigeria produce in oil, they have lesser population (33.7m) compared to Nigeria.
price of fuel per litre is subsidized to about #150.
now they have lesser boder leakages, their neighboring countries apart from Jordan sells at about same rate or close to.
so I repeat check again..

This opens door for massive international product smuggling. Imagine me buying fuel at N150 In Nigeria. Use N10 per liter to transport to Cameroon. Use N50 to bribe my way. Total N210.

I can sell to marketer in Cameroon at N400. He sells at N440.

And I make N190. While in NIgeria, I can only make about N10 per liter. I collect About N210 from govt to sell at N150. I take it it to Cameroon. Make another N190. I make N400. I cheat govt. D people no get the fuel. I smile to the bank. I reserve N5 for parliament to look the other way.

@op ur analysis no follow. Question i want make u answer me be
1. Saudi or dis neighbouring african countries dey get light steady or not?
2. These countries u mention, wetin be their minimum wage?
3. How their transport system be?
If u answer me dis questions very well, then i go give u my reply as per ur post.
Thanks.

Will the price change if Nigeria starts refining it's crude? Because your neighbors sell fuel for 500 naira, is there any justification for you too follow suit?

The market dynamics differ. Maybe our neighbors should buy from Saudi Arabia since fuel is cheaper there.

Govt want to increase fuel to #560 so they pay online millitant to come here and give them a gentle landing.

When Jonathan said the same thing,we wanted to crucify him

The money will be looted and embezzled. So its better being used as subsidy

tobechi74:
Govt want to increase fuel to #560 so they pay online millitant to come here and give them a gentle landing.

When Jonathan said the same thing,we wanted to crucify him

ignorance is an excuse bro.
I must admit I did crucify jonathan way back in 2011 for even is partial subsidy removal.
ignorance was what made me do so.
now I know just how much we are loosing to fuel subsidy and I'll rather the govt uses that money to increase salaries instead so people can afford those fuel products at the normal price.
that way smuggling would reduce.

jumper524:
Nigeria is loosing too much to fuel subsidy.

Benin republic: 505cfa per litre (#357)

source: https://www.globalpetrolprices.com/Benin/gasoline_prices/

cameron: 630xaf per litre (#447)

source:
https://www.globalpetrolprices.com/Cameroon/gasoline_prices/

chad: 518xaf per litre (#367)

source: https://www.globalpetrolprices.com/Chad/gasoline_prices/

tell me why subsidy should not be scrapped and the money used for better things??

t
neighbouring countries are making good fortunes from our head..

.



You don't have anything inside that head of yours, I believe LIE Mohammed is ur father and Buhari ur Godfather.... MUMU

persius555:
Will the price change if Nigeria starts refining it's crude? Because your neighbors sell fuel for 500 naira, is there any justification for you too follow suit?

The market dynamics differ. Maybe our neighbors should cheap from Saudi Arabia since fuel is cheaper there.

transport cost don finish the money nah.
besides it's illegal to import subsidized fuel from any country.

also the price won't change even if we start refining.

rexlims:
@op ur analysis no follow. Question i want make u answer me be
1. Saudi or dis neighbouring african countries dey get light steady or not?
2. These countries u mention, wetin be their minimum wage?
3. How their transport system be?
If u answer me dis questions very well, then i go give u my reply as per ur post.
Thanks.

Saudi has better min wage.
300k.
however we can't compare ourselves with saudi cos saudi is one of the world richest country.

cameroon min wage is: #25000
chad min wage is: #41000
benin republic is: #28000

I don't have detailed report on their transport system.

I await your reply as per my post.
thank you..

ednut1:
The money will be looted and embezzled. So its better being used as subsidy

you have a point here brother.
the govt haven't really been transparent, so it's normal if we don't trust them but however in this subsidy situation, I think it's only normal if we start rethinking our decision.

ehinmowo:
This opens door for massive international product smuggling. Imagine me buying fuel at N150 In Nigeria. Use N10 per liter to transport to Cameroon. Use N50 to bribe my way. Total N210.

I can sell to marketer in Cameroon at N400. He sells at N440.

And I make N190. While in NIgeria, I can only make about N10 per liter. I collect About N210 from govt to sell at N150. I take it it to Cameroon. Make another N190. I make N400. I cheat govt. D people no get the fuel. I smile to the bank. I reserve N5 for parliament to look the other way.

that's the point.
Ecowas is feeding fat on Nigeria fuel.
I was born in lagos(badagry to be precise) left there 2010.
though I was much younger.
just yesterday I was telling my dad about how Nigeria is loosing heavily to fuel subsidy and he opened up to me that I was much younger when we were in badagry, otherwise I would have experienced first hand the massive fuel exportation going on to benin republic.
note badagry boders benin republic.

CodeTemplar:
The sane question is why subsidize what nature isn't charging you for? Fuel is free from the ND and I wonder why we have to subsidize what's freely flowing.
Let them make a thousand naira per litre if that what they want. Stop all these stupid gimmick.

Please know the difference

Nature gave you crude oil not fuel

The refined crude oil (fuel) is what is subsidized

jumper524:
Nigeria is loosing too much to fuel subsidy.

Benin republic: 505cfa per litre (#357)

source: https://www.globalpetrolprices.com/Benin/gasoline_prices/

cameron: 630xaf per litre (#447)

source:
https://www.globalpetrolprices.com/Cameroon/gasoline_prices/

chad: 518xaf per litre (#367)

source: https://www.globalpetrolprices.com/Chad/gasoline_prices/

tell me why subsidy should not be scrapped and the money used for better things??

t
neighbouring countries are making good fortunes from our head..

One thing your lost didn't state is the fact the these guys have improved life style and improved Electricity more than us the Oil producing country.

You should be comparing Nigeria with the likes of Ethiopia brother

LogoDesignerzz:
One thing your lost didn't state is the fact the these guys have improved life style and improved Electricity more than us the Oil producing country.

You should be comparing Nigeria with the likes of Ethiopia brother

those countries aren't that much better in terms of lifestyle compared to Nigeria.
besides only Chad has a higher min wage.

my suggestion is that govt should use subsidy money to increase workers salaries instead of subsidizing fuel for Nigeria and it's neighboring countries.

jumper524:
saudi produces *5 the amount of oil we produce and yet a lite of fuel in saudi is 1.55 riyal (#156).
now saudi have less security issues of fuel smuggling because all neighboring saudi countries apart from Jordan sells fuel for less than #200.
so you see why the money for subsidy needs to be moved elsewhere.

Oga shut up. Fuel must be subsidized. You people said there was nothing like subsidy then and all of a sudden you want to remove what you claim doesn't exist. Just say you people need more money to steal and we will agree

femi4:
Please know the difference

Nature gave you crude oil not fuel

The refined crude oil (fuel) is what is subsidized

thank you brother for this.

us with the largest refineries in the world still sell for over #234 per litre.

the average crude oil price in the world is about #430 per litre.

let's face it, fuel ain't a cheap commodity as Nigeria are being made to understand..

my point is, instead of budgeting over $2.5 billion annually for subsidy, that money should be used to increase salaries so people can afford fuel at an unsubsidized rate.
that way we won't be wasting our resources to illegal fuel smugglers to other neighboring countries..

$2.5 billion ain't child play.
when dasuki looted that amount, many people chop ooo .

Facidio:


Oga shut up. Fuel must be subsidized. You people said there was nothing like subsidy then and all of a sudden you want to remove what you claim doesn't exist. Just say you people need more money to steal and we will agree

everything isn't about politics and opposition.
let's learn to look forwards.
I said scrap subsidy and use the money to improve salaries..
tomorrow your party choice might be in power and would love to take productive step, it won't make sense if I oppose it too.

I'm a regular Nigerian like you, not a politician or working for politicians rather..

WICKED PEOPLE IN POWER. WHY NOT USE THE MONEY AND FIX THE REFINERIES... DO U KNOW THE BENEFITS THE COUNTRY WILL GET IF REFINERIES ARE WORKING AND ALL THE END PRODUCTS OF THE CRUDE OIL ARE LEFT AND USED IN THE COUNTRY??..
Some few wicked and selfish evil people have hijack this country's resources!!

jumper524:
that's the point.
Ecowas is feeding fat on Nigeria fuel.
I was born in lagos(badagry to be precise) left there 2010.
though I was much younger.
just yesterday I was telling my dad about how Nigeria is loosing heavily to fuel subsidy and he opened up to me that I was much younger when we were in badagry, otherwise I would have experienced first hand the massive fuel exportation going on to benin republic.
note badagry boders benin republic.

The amount of fuel consumed in these neighboring countries is very insignificant to how much we consume. If we consume 9 million litres a day, i doubt 100,000 litres crosses over the border. These countries are dirt poor in GDP compared to Nigeria.

persius555:


The amount of fuel consumed in these neighboring countries is very insignificant to how much we consume. If we consume 9 million litres a day, i doubt 100,000 litres crosses over the border. These countries are dirt poor in GDP compared to Nigeria.

until subsidy is scrapped then we might know just how much we are loosing.

tankers carries about 40 to 90 thousand litres.

i doubt if less than 20 tankers don't go across all our boders daily.
100,000 litres daily is definitely not it I assure you.

Interesting comparison.

Mario1989:
WICKED PEOPLE IN POWER. WHY NOT USE THE MONEY AND FIX THE REFINERIES... DO U KNOW THE BENEFITS THE COUNTRY WILL GET IF REFINERIES ARE WORKING AND ALL THE END PRODUCTS OF THE CRUDE OIL ARE LEFT AND USED IN THE COUNTRY??..
Some few wicked and selfish evil people have hijack this country's resources!!

$2.5billion is being budgeted annually for fuel subsidy annually.

dangote refinery estimated worth is about $10billion.

if the f.g is serious and committed, we can generate *2 of that fund and build two big refineries in less than 5years.

the need to own a refinery in Nigeria can't be over emphasized.

biggest refinery in the world (Jamnagar Refinery) refined 1.2 million barrel per day.
while dangote own is set to refine 650,000 barrel per day
.