Hey! I have been a nairalander for years. Though I don't care about any thing happening.. but I just wish others can understand what great deal my President just did..

Seun pls push this to front page. Someone should please explain what fuel subsidy means.

Many don't understand... Let's settle this..

MrXhime:
Hey! I have been a nairalander for years. Though I don't care about any thing happening.. but I just wish others can understand what great deal my President just did..

Seun pls push this to front page. Someone should please explain what fuel subsidy means.

Many don't understand... Let's settle this..

Subsidy means the federal govt pays oil suppliers big money (10 billion dollars a year) so the suppliers can sell petrol to the public at artificially low prices (lower than international market prices).

MrXhime:
Hey! I have been a nairalander for years. Though I don't care about any thing happening.. but I just wish others can understand what great deal my President just did..

Seun pls push this to front page. Someone should please explain what fuel subsidy means.

Many don't understand... Let's settle this..

Basically, subsidy is the money paid to compensate the petroleum market for selling Premium motor spirit at a price below what it really costs in real terms.

The problem with subsidy is the price in real terms keeps on rising , meaning subsidy costs rise as well...and this can mean that money budgeted for other things is spent on subsidy, unless there is a price increase to reduce the cost.

I can't believe this scam has been going on for years. We should kuku be buying the fuel for 500naira since the time 10billion paid and we are having fuel scarcity and even expensive make the money be used else where.



Abi which kind wicked people dey for power sef! Na WA o