Timmzycul11:

Do kindly say the truth, maybe i i don't know anything ni. Is the country better than the way this administration met it?

Nope...and it is because they had the tools they needed to use, but didn't use it.

Remove subsidy. Widen and increase the tax base.

Godarz:


I'm not a sai-baba person, but here is some hard truth

You people like to say that GEJ kept fuel prices at N87....well it cost our economy more than N4 trillion over five years to keep prices that low.

Now, you want Buhari to do the same, and with revenue diminished from low oil prices too.....

I don't know for you Nigerians, but one thing I know...NNPC and government cannot be using money that could have been used for refineries to subsidise fuel to keep you people happy, while we get into more and more debt.

And by the way, GEJ wanted to stop all this by raising fuel prices from N65 to N140 in 2011, but you people told him no. So, here we are.

Deregulation, removal of subsidy completely is the answer. No wahala.

You are not a Sai Baba person and yet here you are saing away at the Baba.

I beg you in the name of whatever you worship to stop dishing out misleading info. Oil prices has rocketed and keeps rising.
Nigeria produces oil and yet it cannot sell to its people at a lower price. Feel free to school me as to why and quit this trash you are talking like APC are your Paymasters.

Godarz:


The problem is subsidy is making our debt worse.

It is also the reason why there is no new investment in refinereis. Who wants to produce fuel at a loss

There is no country in the world without subsidy for its citizens.

Subsidy can be in fuel price, food commodities, health sector, food banks, unemployment stipends. Which you know Nigeria does not subsidize any other item for its citizens except fuel.

The leaders you have are all economic illiterates. That's why the country can't grow under them.

Eze2000:


You are not a Sai Baba person and yet here you are saing away at the Baba.

I beg you in the name of whatever you worship to stop dishing out misleading info. Oil prices has rocketed and keeps rising.
Nigeria produces oil and yet it cannot sell to its people at a lower price. Feel free to school me as to why and quit this trash you are talking like APC are your Paymasters.

y

Well, removign subsides would improve things...but Bubu won't do that...so here we are still wasting trillions on subsidy.

Also, we are n't earning enough from oil to subsidse it totally...plus when we were subsidsing it...we were losing millions to smuiggling, and stealing.

AlhajiBitcoin:


There is no country in the world without subsidy for its citizens.

The countries that have subsides pay for such subsides via heavy duty taxes....they all have higher tax to gdp ratios.

Canada subsides fuel, and has a tax to gdp of 33%, COMPARED TO nigeria's 6.1% And still sells fuel at equivalent of N400 per liter, compared to our now N212 PER liter.

Subsidy can be in fuel price, food commodities, health sector, food banks, unemployment stipends. Which you know Nigeria does not subsidize any other item for its citizens except fuel.

Actually, we subsidize power , education and health care. Otherwise, for example, you would be paying N80 per kwh for power or more, fees at university would cost N3 million or more per annum, and a operation would cost you millions of naira

And the subsides are indirectly why we don't have good facilities, because we don't pay for subsides by taxes, we pay by the income we earn from oil, which isn't even enough right now.... and the education, health and power as well as oil don't make enough profit to fund thmselves well.

The leaders you have are all economic illiterates. That's why the country can't grow under them.

Yeah I agree with you. Problem is the opposition is composed of the same illiterates.

Plus the issue is, Nigerians don't like the solution of paying higher taxes to maintain a subsidy (which also includes taxing more and more people )....or removing the subsides, and thus allowing more investment , which can then be taxed to maintain subsides elsewhere.

So, we subsidse using an income that isn't enough, and as a result, we get into higher debt.

Godarz:


I'm not a sai-baba person, but here is some hard truth

You people like to say that GEJ kept fuel prices at N87....well it cost our economy more than N4 trillion over five years to keep prices that low.

Now, you want Buhari to do the same, and with revenue diminished from low oil prices too.....

I don't know for you Nigerians, but one thing I know...NNPC and government cannot be using money that could have been used for refineries to subsidise fuel to keep you people happy, while we get into more and more debt.

And by the way, GEJ wanted to stop all this by raising fuel prices from N65 to N140 in 2011, but you people told him no. So, here we are.

Deregulation, removal of subsidy completely is the answer. No wahala.

congratulations to you even if you are a Pro sai baba or an anti sai baba......even if fuel is sold for 500 a litter it cant improve on the lives of the man on the streets and no refinery will be built out of it.....so this your theory is not new to us..so save yourself the energy and face reality

princemillla:



Don't mind the him. The truth is we belive we r doing the right but hell no!

We no longer paying subsidy yet we keep borrowing to finance infrastructure

Minimum wage is no different from what it used to be

All necessary money that was supposed to be used for quality things are being payed to bandits and u expect this country to be good in nearest future.

That's their view on nation building.

dikeigbo2:






congratulations to you even if you are a Pro sai baba or an anti sai baba......even if fuel is sold for 500 a litter it cant improve on the lives of the man on the streets and no refinery will be built out of it.....so this your theory is not new to us..so save yourself the energy and fce reality

Welll, there are 25 active licenses for refineries, out of which 5 are already under construction

Subsidy removal means that there would be enough of a profit to stimulate refinery construction, and increase production of fuel...with more jobs being generated.

So long as government controls prices, there is a subsidy, and thus a disincentive to build or operate refineries. (Dangote refinery is an exception..plus if it runs at a loss due to subsidy, the banks take over his other companies and get their money back.)

Godarz:


I'm not a sai-baba person, but here is some hard truth

You people like to say that GEJ kept fuel prices at N87....well it cost our economy more than N4 trillion over five years to keep prices that low.

Now, you want Buhari to do the same, and with revenue diminished from low oil prices too.....

I don't know for you Nigerians, but one thing I know...NNPC and government cannot be using money that could have been used for refineries to subsidise fuel to keep you people happy, while we get into more and more debt.

And by the way, GEJ wanted to stop all this by raising fuel prices from N65 to N140 in 2011, but you people told him no. So, here we are.

Deregulation, removal of subsidy completely is the answer. No wahala.

and buhari is still borrowing!! you don't sound sane

Godarz:
y

Well, removign subsides would improve things...but Bubu won't do that...so here we are still wasting trillions on subsidy.

Also, we are n't earning enough from oil to subsidse it totally...plus when we were subsidsing it...we were losing millions to smuiggling, and stealing.

We are an oil producing country. We get the oil from the ground for Free!
If our refineries worked and we added just 20 naira to refining cost petrol will not be more than 80 naira per liter and government will still make profit domestically. And then there is international sales.
Iran and Venezuela do just that and their money no better than paper. They both have the cheap petrol prices in the world domestically but sell oversea at high rates.

Corruption and bad Gove nave is the reason those refineries don't work
It's the reason why smuggling exists
It's the reason why subsidy, which works well in most nations, doesn't work Here.

Check well, Ruwanda subsidies almost everything that makes life tolerable in that tiny land country, from food to house rent,

I lived over a year in seme border area and saw the smuggling thing you are talking about first hand. It's goes on all night, every night. The funny thing is its the customs officers that man the gates and search lights there and the smugglers waltz past then in their ancient car tanks all night... who collect settle I wonder.

When we want all this rubbish to stop it will stop.

Godarz:


Welll, there are 25 active licenses for refineries, out of which 5 are already under construction

Subsidy removal means that there would be enough of a profit to stimulate refinery construction, and increase production of fuel...with more jobs being generated.

So long as government controls prices, there is a subsidy, and thus a disincentive to build or operate refineries. (Dangote refinery is an exception..plus if it runs at a loss due to subsidy, the banks take over his other companies and get their money back.)

it seems you are good in theories and zero in practicals.........you sign MOU with Niger republic and you here ranting about the Mirage of goodies. coming with this hike....simply take it to the marines and congratulations once again

Eze2000:


We are an oil producing country. We get the oil from the ground for Free!
If our refineries worked and we added just 20 naira to refining cost petrol will not be more than 80 naira per liter and government will still make profit domestically. And then there is international sales.
Iran and Venezuela do just that and their money no better than paper. They both have the cheap petrol prices in the world domestically but sell oversea at high rates.

Corruption and bad Gove nave is the reason those refineries don't work
It's the reason why smuggling exists
It's the reason why subsidy, which works well in most nations, doesn't work Here.

Check well, Ruwanda subsidies almost everything that makes life tolerable in that tiny land country, from food to house rent,

I lived over a year in seme border area and saw the smuggling thing you are talking about first hand. It's goes on all night, every night. The funny thing is its the customs officers that man the gates and search lights there and the smugglers waltz past rhea all night... who collect settle I wonder

Well, the refinereis don't wrk because the government has since the late 1970's been subsidisng fuel...meaning that they force fuel to be sold at a lower price than the cost of production

This meant that there wasn't enough profit being made to fix refinereis....which worsened the bad state at NNPC

Once the refienreis went kaput in 2010/11, we strated importing fuel, and paying for the fuel to be sold at a cost lower than the cost of import...which means we spend a big chunk of our income keeping fuel prices low.

But you cannot do that forever. The cost of refining fuel is always rising...and so is the amount of money meant to subsidise it. Which is why in five years we ran through N4 trillion subsidisng fuel....money that could have been used to fix refienreies.

Also smuggling happens because all our neighbours don't sell fuel at the price we do. They sell it for higher prices...over N300...which is why there is smuggling. We sell it here at N162. Who no go smuggle? and make a clean proifit?

Remove subsidy,allow them makreters to contrl the price...and in return for high pricers, we get more refinereis built...with private money....to take advantage of the profits in the sector.

dikeigbo2:






it seems you are good in theories and zero in practicals.........you sign MOU with Niger republic and you here ranting about the Mirage of goodies. coming with this hike....simply take it to the marines and congratulations once again

Niger is exporting fuel, because they allow their marketers there to sell fuel at N350 per liter.

As a result of allowing the greedy marekters...they have enough profit to keep their 20000 barrel capacity refinery running..and they can export to Mali, Burkina, Nigeria, and others.

If we had done the same, by now we could have been exporting to the whole of West Africa.....

aminusodiq:
and buhari is still borrowing!!

Yes, because our tax to gdp ratio is low, and because we are not selling crude at our breakeven price of $133 per barrel

you don't sound sane

Using the language of poultry does not become you.

Godarz:


Niger is exporting fuel, because they allow their marketers there to sell fuel at N350 per liter.

As a result of allowing the greedy marekters...they have enough profit to keep their 20000 barrel capacity refinery running..and they can export to Mali, Burkina, Nigeria, and others.

If we had done the same, by now we could have been exporting to the whole of West Africa.....

your analysis is based as Pro government and anti people.......congratulations you are really really doing well in your calling

Godarz:


I'm not a sai-baba person, but here is some hard truth

You people like to say that GEJ kept fuel prices at N87....well it cost our economy more than N4 trillion over five years to keep prices that low.

Now, you want Buhari to do the same, and with revenue diminished from low oil prices too.....

I don't know for you Nigerians, but one thing I know...NNPC and government cannot be using money that could have been used for refineries to subsidise fuel to keep you people happy, while we get into more and more debt.

And by the way, GEJ wanted to stop all this by raising fuel prices from N65 to N140 in 2011, but you people told him no. So, here we are.

Deregulation, removal of subsidy completely is the answer. No wahala.

Do you also know the implication of the fuel price increase on the lives of the common man in the street. Minimum wage is 30k why the price of a bag of rice is higher than the minimum.

dikeigbo2:




your analysis is based as Pro government and anti people.......congratulations you are really really doing well in your calling

No, I am , as someone who has supported deregulation since 2012, telling you why we have to deregulate

Or you want government to spend another N5 trillion over the next 2 years just to keep fuel at N40 per liter so that you can enjoy your change?

If I supported this government, I won't be talking like this.GE

Back when GEJ was talking about deregulation, I supported it. People called me a GEJ supporter. Now that I support it under Bubu, you are calling me a Bubu supporter.

Good morning. Go and read about subsidies. And why they are bad for an economy like ours. It is because you don't understand that you are calling me the supporter of a man whom I never ever voted for in my life.

ofeco:


Do you also know the implication of the fuel price increase on the lives of the common man in the street. Minimum is 30k why the price of a bag of rice is higher than the minimum.

I do, it means a high price of fuel briefly...but it also means more investment in refineries, and less importation of fuel, and more jobs...and eventually lower prices plus we become a petrol exporter.

Eventually the common man benefits.

Subsides on the other hand mean more debts, plus money for refienry building goes to the pockets of a few. No thanks.

Godarz:


I do, it means a high price of fuel briefly...but it also means more investment in refineries, and less importation of fuel, and more jobs...and eventually lower prices plus we become a petrol exporter.

Eventually the common man benefits.

Subsides on the other hand mean more debts, plus money for refienry building goes to the pockets of a few. No thanks.

It's OK to defend your preferred party but abeg you actually expect those stuffs to happen under the current government? And shey they forgot to put that into consideration when campaigning during the first election ni

Godarz:


Well, the refinereis don't wrk because the government has since the late 1970's been subsidisng fuel...meaning that they force fuel to be sold at a lower price than the cost of production

This meant that there wasn't enough profit being made to fix refinereis....which worsened the bad state at NNPC

Once the refienreis went kaput in 2010/11, we strated importing fuel, and paying for the fuel to be sold at a cost lower than the cost of import...which means we spend a big chunk of our income keeping fuel prices low.

But you cannot do that forever. The cost of refining fuel is always rising...and so is the amount of money meant to subsidise it. Which is why in five years we ran through N4 trillion subsidisng fuel....money that could have been used to fix refienreies.

Also smuggling happens because all our neighbours don't sell fuel at the price we do. They sell it for higher prices...over N300...which is why there is smuggling. We sell it here at N162. Who no go smuggle? and make a clean proifit?

Remove subsidy,allow them makreters to contrl the price...and in return for high pricers, we get more refinereis built...with private money....to take advantage of the profits in the sector.

You get the problem but the cause.

Subsidy has nothing to do with selling the product below production costs. No, sir, no one does that. Even the water cooperation don't.

Subsidy has to do with keeping the prices below normal world prices.

Oil from Rivers state or Imo + production costs at refinery = petrol below 100 naira.
This is what I am telling you. But those refineries will never work cos of corruption. These people make more from corruption.
Common, think,.. Niger Republic has working refineries for gods Sake!


Furthermore, our neighbor sell fuel way higher than you think. The interesting thing to understand is they do this using tankers that drive all along the highway and across out borders with customs, police and immigration waving them on. Go to seme border at midnight and you won't belive your eyes.


The government is killing it's people but the masses don't even know that.

Eze2000:



You get the problem but the cause.

Subsidy has nothing to do with selling the product below production costs. No, sir, no one does that. Even the water cooperation don't.

Subsidy has to do with keeping the prices below normal world prices.

Oil from Rivers state or Imo + production costs at refinery = petrol below 100 naira.
This is what I am telling you. But those refineries will never work cos of corruption. These people make more from corruption.
Common, think,.. Niger Republic has working refineries for gods Sake!


Furthermore, our neighbor sell fuel way higher than you think. The interesting thing to understand is they do this using tankers that drive all along the highway and across out borders with customs, police and immigration waving them on. Go to seme border at midnight and you won't belive your eyes.


The government is killing it's people but the masses don't even know that.

Niger republic has working refineries because they don't have a subsidy.Fuel costs 350 naira there

Subsidy is what government pays marketers to keep their prices lower than the cost of production or sale in return for them not raising it. Unfortunately that money is hardly enough


Also bear in mind that government keeping prices below the cost of production as regards fuel and other refinables is why our refineries are down in tbe first place.

hayzed1090:


It's OK to defend your preferred party but abeg you actually expect those stuffs to happen under the current government? And shey they forgot to put that into consideration when campaigning during the first election ni

Actually i don't support apc or pdp.

I have been backing fuel subsidy removal since 2012 when Noi and sls explained it clearly enough for me

Godarz:


Yes, because our tax to gdp ratio is low, and because we are not selling crude at our breakeven price of $133 per barrel





Using the language of poultry does not become you.

u'll always find an excuse

aminusodiq:
u'll always find an excuse

Nope. Not excusing anything

Just telling the government what it needs to do to make things better.


I didn't vote for Pdp or apc in any of the elections i have voted in since 2003.

Godarz:


Niger republic has working refineries because they don't have a subsidy.Fuel costs 350 naira there

Subsidy is what government pays marketers to keep their prices lower than the cost of production or sale in return for them not raising it. Unfortunately that money is hardly enough


Also bear in mind that government keeping prices below the cost of production as regards fuel and other refinables is why our refineries are down in tbe first place.

Subsidy or not, the government is clueless, spineless and useless. That's what I am saying.

By the NNPC just issued a counter statement and these idiots have deleted their prior statement as posted on thir website.
You kind of wonder who is really in control,
OH, Wait! Buhari is the minister of petroleum

Permit me to add confused to the listing above.

gnykelly:


government is broke

But oil has gone up almost twice the benchmark

Godarz:



No, I am , as someone who has supported deregulation since 2012, telling you why we have to deregulate

Or you want government to spend another N5 trillion over the next 2 years just to keep fuel at N40 per liter so that you can enjoy your change?

If I supported this government, I won't be talking like this.GE

Back when GEJ was talking about deregulation, I supported it. People called me a GEJ supporter. Now that I support it under Bubu, you are calling me a Bubu supporter.

Good morning. Go and read about subsidies. And why they are bad for an economy like ours. It is because you don't understand that you are calling me the supporter of a man whom I never ever voted for in my life.

you must be somewhere around this picure

dikeigbo2:





you must be somewhere around this picure

Which shows you don't understand a word of what I have said.

Back then, I would have been rebuking the people in the picture, and supporting the rise in fuel prices from N65 to 140.

I would have been holding a sign that read 'N140 MAKES ECONOMIC SENSE'

Because if the oppisiton then had not protested, we would have had more refienreis by now. Instead they did, and here we are...having to take medicine that we should have taken in 2012...and at a hard time too.

Godarz:


I do, it means a high price of fuel briefly...but it also means more investment in refineries, and less importation of fuel, and more jobs...and eventually lower prices plus we become a petrol exporter.

Eventually the common man benefits.

Subsides on the other hand mean more debts, plus money for refienry building goes to the pockets of a few. No thanks.

When fuel price was increased, we heard the same story of "increased investment in our refineries" since Buhari became the president and removed fuel subsidy. how many of Nigerian refineries are working optimally?

ofeco:

When fuel price was increased, we heard the same story of "increased investment in our refineries" since Buhari became the president and removed fuel subsidy. how many of Nigerian refineries are working optimally?

Buhari has never removed subsidy.

If he had, why is he still setting prices?