NewStats: 3,262,343 , 8,176,878 topics. Date: Sunday, 01 June 2025 at 09:11 PM 6p5340

To those still confused as to whether government has removed subsidy or not: get a copy of the 2016 budget and see if there is a provision for fuel subsidy. That settles it.

dukecharles:


You are an idiot, what is their to read? That suddenly CBN can't provide Fx for fuel importation when the likes of Dangote, Aisha Buhari and other bourgeois are messing with our Fx.. By the time Nigerians will realize that GEJ was the best thing that happened to Nigeria, PMS will be sold for 200, dollars will be exchanged for 500. I just don't like youths that cannot ruminate.

Thank you. Sometimes resisting the urge to call these cretins what they are is so low.

I was actually expecting them to come out and debunk the news. I'm ain't surprised, they've been contradicting themselves eversince. Where is Bubu, that it has to be the professor that we address us on salient national issues?. Bunch of inconsistent bleepers!

Pidggin:
Now, i am confused

You're not alone, Buhari and his cohorts are just running from pillar to post. The gist is seriously confusing, if there is one thing Nigerian politicians esp. APC are good in its throwing huge figures around.

Honest fact!
Simple and short.

I wonder which subsidy the government was paying considering the price of crude oil.

Dahveydson:


The VP is only saying Nigeria don't have enough dollars to bring in fuel via NNPC anymore, so you and I can bring in fuel now by sourcing our dollars from anywhere. This will ease off pressure from our foreign reserves and NNPC, and also make the product readily available as it is a profitable business.

Also, the govt in a bid to protect the masses, put the maximum price at N145, because people can bring the product and want to sell for as high as N250, but the govt having calculated every cost is saying reasonable profit will still be made at N145, so don't sell above it.

Yes to protect the masses by increasing the price to #145. What a loving government.

dukecharles:


You are an idiot, what is their to read? That suddenly CBN can't provide Fx for fuel importation when the likes of Dangote, Aisha Buhari and other bourgeois are messing with our Fx.. By the time Nigerians will realize that GEJ was the best thing that happened to Nigeria, PMS will be sold for 200, dollars will be exchanged for 500. I just don't like youths that cannot ruminate.

My own question is simple. What exactly are the masses gaining from this government? They denied us forex for international transaction, even the form A & M u go sweat to get it approved especially form M wey go need anointing & 30 days fasting and prayer, they sell to banks at official rate and close their eyes when banks charge us close to black market rate yet some people sit down on that forex using it for their own personal use & dey tell us the government is helping us!!
By the time pressure from the oil marketers that spend millions of USD on individual basis hit the USD it will jump to #500 before December

berrystunn:


We need to smoke to understand . Like you did.

Bros, the matter is just simple elementary english, I didnt have to smoke anything to understand this one.

LaExpert:
Honest fact!
Simple and short.

I wonder which subsidy the government was paying considering the price of crude oil.

My question for you .

If fuel prices increase to $100 will the government reintroduce subsidy?

BekeeBuAgbara:
Yes to protect the masses by increasing the price to #145. What a government.

Comprehension problems...

Hengineer:
This was just Vanguard being dubious with their interpretations and titles, knowing that Nigerians are too intellectually lazy to read beyond titles.

Any person with the most basic comprehension skills can see clearly that the words of the VP has no single link with with the title.

quote author=MisterGrace post=45602552]These malicious and demonic media keeps twisting things just to make the people to hate this govt. I think the time may just be right to close down Vanguard, the rate at which they distort stories to serve whatever agenga they have is scary.

Another Zombie on the loose. If indeed the FG removed subsidy as you argued, why then are they fixing prices?

SirREX94:
I was actually expecting them to come out and debunk the news. I'm ain't surprised, they've been contradicting themselves eversince. Where is Bubu, that it has to be the professor that we address us on salient national issues?. Bunch of inconsistent bleepers!

Nobody debunked anything, the report is just false gibberish from a silly Vanguard reporter and editor. Kindly go back and read the quoted words of the VP in that report and point out where he said no subsidy has been removed?

Hengineer:


[size=16pt]What exactly is it with Vanguard and distortion of information?.... How do the words of the VP above translate into this title Vanguard has just published?[/size]

These guys at Vanguard have proven and re-proven themselves to be anarchists knowing that Nigerians only read titles before airing their opinions. Meanwhile these exact same words by the VP were reported by almost every other media house (including Vanguard) in the past 3 days, but fast-forward to Saturday, Vanguard now thinks the exact same words deserve a new interpretation and title.

This was the same Vanguard that heard Buhari say in a campaign:
"It is not good for the 1 dollar to exchange at N230"

And the next day Vanguard reports:
"I will make N1 = $1"

Now the VP says subsidy removal isnt the main cause of the hike, but rather, the high exchange rate is responsible since marketers now have to source forex at the parallel market.

But of course, Vanguard has a better interpretation of the above simple statement:
"FG Has Not Removed Fuel Subsidy"

sincerely I never knew so many Nairaland are just illiterate, I was scrolling down looking for someone that understood d content of d article and d misleading title. well thanks for been a learned fellow

I need to pay homage to the nairaland member that predicted that the government would come out and say something like this, that guy or girl who said it is a prophet

Dahveydson:


Comprehension problems...

You and Osubade can't confuse me with long grammar.

dukecharles:


That suddenly CBN can't provide Fx for fuel importation


when the likes of Dangote, Aisha Buhari and other bourgeois are messing with our Fx..

By the time Nigerians will realize that GEJ was the best thing that happened to Nigeria, PMS will be sold for 200, dollars will be exchanged for 500. I just don't like youths that cannot ruminate.

Who ever read and properly digested what this "man" is saying will know that he is contradicting himself. Nigerians in Nigeria should prepare for this is just the beginning of fuels scarcity except exchange rate drops which is clearly not possible. Even in the case of availability of pms, there will be no money to buy because no marketer will access forex from the "black market" @ an exorbitant rate without selling higher than 145 naira. Nobody does business to loose. If this istration came up with possible lies of saving to build refineries for local usage, it would have been easy to hear. Zombies will die 1st before right thinking Nigerians.

OBAGADAFFI:


My question for you .

If fuel prices increase to $100 will the government reintroduce subsidy?

Most likely not.
The removal of 'monopoly' by the federal government is enough to keep the landing cost low.

My question for you is:
Is VP Osinbajo wrong with his statement?

Omooba77:


If you read it in your own media,may be your reasoning will be alive

http://www.punchng.com/fuel-price-increase-not-removal-subsidy-osinbajo/

The link you posted further buttresses my point, it is very clear. The VP has said the INCREASE IN PRICE is not because of the fuel subsidy removal, but rather because marketers now have to get their forex from the blackmarket at about N290 or so to a dollar. The VP did not say subsidy has not been removed, he only said the subsidy removal is not the main driving factor for the high N145.

Hopefully my explanation is now clear?.... the quack Vanguard journalist who titled this report is just either daft or dubious. The Punch report titles it more appropriately.

MaziOmenuko:
Can someone explain in clear what the VP is offering.
If the hike is as a result of none access to forex, does it mean that the more dollars rises at the parallel market, the more the price of PMS shoots up? I don't even understand again.

If people like you are now confused then Nigeria is in trouble indeed.

Pidggin:
Now, i am confused

Don't be

This pastor can lie

The disgraceful interpretations of that simple statement has once again expose our poor quality of education . The VP simply explained that the emphasis is not about the insignificant subsidy but FOREX issues that has made them to throw the market open contributing more to this
hike. AS

Huffington:
Another Zombie on the loose. If indeed the FG removed subsidy as you argued, why then are they fixing prices?

It is actually painful explaining elementary things to people who are supposedly educated, but have sent their basic comprehension skills on permanent vacation because of some flimsy political sentiments.

The point I made was very clear, the quack Vanguard journalist is either too daft or just being dubious for coming up with such a wrong interpretation and title.

Regarding subsidy, the government fixed an UPPER price band to prevent marketers from exploiting Nigerians. It doesnt mean there is subsidy. The government is simply saying marketers can sell at any price they want but they shouldnt go above 145.

This is the most controversial VP i have ever witness

Hengineer:
It is actually painful explaining elementary things to people who are supposedly educated, but have sent their basic comprehension skills on permanent vacation because of some flimsy political sentiments.

The point I made was very clear, the quack Vanguard journalist is either too daft or just being dubious for coming up with such a wrong interpretation and title.

Regarding subsidy, the government fixed an UPPER price band to prevent marketers from exploiting Nigerians. It doesnt mean there is subsidy. The government is simply saying marketers can sell at any price they want but they shouldnt go above 145.

Can you define deregulation for me Mr. Smart? Do you even know what competition and market forces are?

chisco82:

So we now need an English teacher/ instructor to analyze and teach us whatever the governmet said?
Well if that is the case how come fuel now sell at #145 per liter, ok i got u! It's called deregulation, the fuel marketers source for money on their own and imports sells according to exchange rate.
All i see is a way by which the FG is now using to embazzle our money because they can no longer come up with a figure that they can say is exact amount they are paying as fuel subsidy.

Simple explanation, 'govt has stopped paying subsidies.' Ordinarily with oil prices at $40, petrol shouldnt even sell for up to N100 without subsidy, but the driving factor is now the cost of forex; marketers now have to get their forex from the blackmarket at about 290-300 (and above) instead of the N197-200 which they usually got it before, this is the reason the price shot-up to N145. It may even be reviewed above N145 because obviously, the cost of forex has now risen significantly since the announcement that marketers are now to get their forex from the blackmarket.

pchukwudi:


Can you define deregulation for me Mr. Smart? Do you even know what competition and market forces are?

What exactly is the point you are trying to make?.. deregulation doesnt still mean thw govt should completely turn its head the other way while marketers exploit the nation.

Hengineer:
What exactly is the point you are trying to make?.. deregulation doesnt still mean thw govt should completely turn its head the other way while marketers exploit the nation.

Simple request: define deregulation for me.

No matter how this is explained, the queens English used in explaining it, it doesn't remove the fact that we are all buying Petrol at prices above N145 per liter. So al these explanations about some people not understanding what the short man is saying is hug wash, the reality is 145 per liter. Now the man further said that its just a price increase based on foreign exchange and not removal of fuel subsidy, so what then will be the price when the fuel subsidy is removed? Your guess should be as good as mine.

I still dey laugh out loud about this charade playing out in this fraud of a country called Nigeria.