Deepthoughts:
I understand your explanations perfectly n they make a lot of sense but the main issue you avoid here may be out of deciet or not is,how did the APC came up with the bogus claim of Nigeria consuming 60m litres of pms per day n why was the so call under recovery been paid with out appropriation by NASS until now that the out cry from the opposition has forced buhari to include it the budget proposals for 2019,can you stake your life that the under recovery regime is devoid of corruption?.

We are probably consuming more than 60m liters of fuel a day. (One expert I heard on private radio put it at 70m)

Much of the fuel goes into cars, and generators.Infact due to poor power supply generators account for the high amounts consumed.

Our population is above 200million too.

This people are stylishly telling Nigerians that petrol will soon be selling for #165/litre all in the name of total removal of subsidy...if you knw you knw

I thought Buhari and APC said that fuel subsidy is a scam.


God please help us restructure this country, don't allow the northern to finish us before you come for our rescue.

theoldpretender:


We are probably consuming more than 60m liters of fuel a day. (One expert I heard on private radio put it at 70m)

Much of the fuel goes into cars, and generators.Infact due to poor power supply generators account for the high amounts consumed.

Our population is above 200million too.

Now I can see clearly that you just out to defend buhari at all cost,but your abracadabra won't fly with me, just listen to yourself" much of the fuels goes into cars n generators" what was the fuels been use for before now?, didn't fashola claim that Nigerians are now using much lesser generators for power now?,you people think other Nigerians are fools isn't it?,why didn't you answer the corruption aspect of your so loved under recovery regime?.

Deepthoughts:
Now I can see clearly that you just out to defend buhari at all cost,but your abracadabra won't fly with me, just listen to yourself" much of the fuels goes into cars n generators" what was the fuels been use for before now?, didn't fashola claim that Nigerians are now using much lesser generators for power now?,you people think other Nigerians are fools isn't it?,why didn't you answer the corruption aspect of your so loved under recovery regime?.

1.Well I cannot defend Buhari seeing as he won't do the commonsense thing and end this subsidy nonsense once and for all.

2.In truth NNPC does not know how much we consume. The 65M liters is their rough estimate. In 2012 it was 44m liters.a day.

3.As for what Fashola said...off topic, but until we generate more than 20000MW we are going to keep on using lots of generators (We generate ust 7500MW on a good day, 4000 on a bad day).Power ministry knows what to do...but they won't do it (ie deregulate power thoroughly).

4.Our refineries on a good day refine 20m liters of fuel a day...meaning we have to import fuel.

5.Under subsidy...NNPC cant make a profit. All govt pays them is the difference between how much they import the fuel and how much they sell to retailers.

6.You want an end to all this...well....govt stops all them subsidy payments, the scam ends there and then. Yes, prices will go up, but investment woild flow in, refinereis would get built, etc...and money spent on 'subsidy' can now be spent on other things.

Hope you get my point.

theoldpretender:


1.Well I cannot defend Buhari seeing as he won't do the commonsense thing and end this subsidy nonsense once and for all.

2.In truth NNPC does not know how much we consume. The 65M liters is their rough estimate. In 2012 it was 44m liters.a day.

3.As for what Fashola said...off topic, but until we generate more than 20000MW we are going to keep on using lots of generators (We generate ust 7500MW on a good day, 4000 on a bad day).Power ministry knows what to do...but they won't do it (ie deregulate power thoroughly).

4.Our refineries on a good day refine 20m liters of fuel a day...meaning we have to import fuel.

5.Under subsidy...NNPC cant make a profit. All govt pays them is the difference between how much they import the fuel and how much they sell to retailers.

6.You want an end to all this...well....govt stops all them subsidy payments, the scam ends there and then. Yes, prices will go up, but investment woild flow in, refinereis would get built, etc...and money spent on 'subsidy' can now be spent on other things.

Hope you get my point.

I get your points very well but you appear to me like shehu sani ,one moment you are for, another moment you appear against,there is a massive fraud going on under this Apc government especially around this fuel issue,do you concur or not?

Deepthoughts:
I get your points very well but you appear to me like shehu sani ,one moment you are for, another moment you appear against,there is a massive fraud going on under this Apc government especially around this fuel issue,do you concur or not?

Sorry mate, I am not into your APC or PDP things.

My point is to explain why subsidy and how it works.

theoldpretender:


If Buhari did that

1.They would be spending billions more on subsidy....more money for the scams AND less money for other things like salaries, infrastructture, education, etc.

2.NNPC and the marketers would be running at a loss....and would lose more money.

3.Scarcity would be an ever present in Nigeria.And we would lose investors, since most of them would be selling fuel at a loss. Job losses would hit the roof.

4.Because GEJ kept prices at N97(due to protests)....we ended up with a debt called subsidy claims that we are still paying.

5.In short...things would get worse.

6. We wont be able to build new refineries becauseif we do that..subsidise fuel at N97...they would all be running at a loss. It costs more than N100 to produce one liter of fuel. So, you want someone to build a modular refinery and be losing at least N3 (at most N40-50) PER LITER OF FUEL he or she sells ?


7. NNPC and marketers would be smuggling fuel to neighbouring countries(where fuel sells above N200 per liter) to survive economically. And the black market would flourish.


Venezuela pays a hefty sum in money to keep fuel at N45 per liter in that country. They also have fuel scarcity, long queues, and their petroleum industry is in an even worse state than Nigeria.

There is a reason why GEJ wanted to raise prices to N140 in 2012....and it wasn't because of bad reasoning...


Also, right now we are importing fuel at N165. Redcuing it to N97 would mean a loss of N68 per liter for NNPC.

It is well. Thanks for the knowledge. I see a lot of reasons in your write ups. Thanks.

theoldpretender:


Sorry mate, I am not into your APC or PDP things.

My point is to explain why subsidy and how it works.

like your moniker,you are just pretending,you think I'm buhari that doesn't understand what subsidy is?, it's the fraudulent nature of the so call under recovery Apc are trying to decieve people into believing n singing their praises that some of us want to disprove,Apc/buhari can't be doing worse of what they accuse others of and expect everyone to sing their praise except the zombies,n like shehu sani you are not bold enough to take definite stand on issue,keep on pretending perhaps that serves you better.

Buhari
is a thief
simples