The subsidy regime did put the government under pressure as the thought of where to get the next 50 Billion for the next day payment keep raging in their mind.

But what really made subsidy a big deal if not administrative fraud and special waivers to some group called major marketers.

In this same subsidy regime, the commodity that are subsidized were still sold under an exorbitant amount because government institutions focus more on revenue rather than productivity.

For instance, the rigors of obtaining a license for a petrol station requires just a small amount. But to get the institution approve your station for licensing, you have to settle different administrative heads and departments of government institutions as well as field officers sent to carry out inspections. This is one fraud that has persisted for years making it appear as if there is monopoly in petrol station business.

The next Administrative fraud is issue of Major Marketers. While seeking for effective management of the Oil sector, The Government institution designate some petroleum product marketers as major marketers. These major marketers has to go through the rigors of licensing also. But it is near impossible for ordinary business owners without government backing. This group constitute the channel through which the nation experience leakage in the quantity of consumption daily. The first culprit is NNPCL itself. Nearly 70%(Assumption) of product allocated to NNPCl Mega Stations and other Major Marketers ends up with Black marketers and across the border. This is why it is rare for any black marketer station to lack products during scarcity. This is because the said products are diverted by administrative heads who were to receive the product and sell at government approved prices but ends up selling at a higher price to outsider or probably their own private station that they operate as a black market and end up inflating the price beyond normal to personal gain. These are the people bleeding the national purse during the subsidy regime.

The next are the fraudsters. Some years back in Portharcourt, Marketers (Major Marketers) will come in with their consignment for subsidy claim but they end up collecting the subsidy claim for one ship consignment three to four times. This is because they head back to the sea with the ship and modify the ship and return for another subsidy claim. These were the fraudsters of that era. But NNPC did stop this fraud by licensing ships that brings in consignment. But has the fraud stopped? NNPC became the sole importer of petrol and this gave birth to arbitrary consignments. They just operate the Arbitrary consignment like CBN operated the dollar. No need for any transactions. Just approve the subsidy claim and collect the difference.

Abi

The government wants to get rid of the most significant thing every Nigerian enjoys. It will only worsen people's sufferings.

Tinubu should reach a deal with Dangote to pay subsidy directly to the refinery. Nobody should support subsidy removal.

It has to be adminstrative fraud. That is Nigeria for you.

The truth is that , the subsidy has a lot of fraud embedded therein,but it still succours the average man as the price reduction helps us to be able to do business at a manageable level.If this subsidy is totally removed without good measure to cushion the effect ,it won't go well with the nation. I also do not expect the poor man on the street to CLAP HANDS over this.If BAT chooses to be transparent about this let his administration give answer to the questions We have been asking 1)who are those receiving subsidy (2) what is the volume of oil been gotten from the fields daily ?? (3)what is the volume been transported outside and by how many companies (listed out) what is the volume been transported back to this nation ,how is this shared per state ??,by the time we get this answers ..Nigerians will stone virtually past and present leaders in this nation.THEY ARE OUR PROBLEM

sonature1:
The government wants to get rid of the most significant thing every Nigerian enjoys. It will only worsen people's sufferings.

Tinubu should reach a deal with Dangote to pay subsidy directly to the refinery. Nobody should support subsidy removal.

Subsidy is gone. Don't look for it.

Noted that NNPCL don't refer to it as subsidy, but under recovery. They are considered the sole importer of PMS, my understanding is that they import PMS at a higher cost, while selling at discounted rate, thus affecting their remittance to FAAC.

No official price yet. The beginning has never been this rough.