NewStats: 3,265,437 , 8,186,747 topics. Date: Saturday, 14 June 2025 at 11:45 PM 17188

Islie:


VANGUARD

Bros nothing stops you as a business man from bringing in fuel for the purpose of getting the landing cost in Nigeria, with this you have evidence, not hear say. We export the crude, it is refined and we ship it back in. All the TAM that was done on the refinary while you were in office have failed to yield the desired results.

If you ask me, na who I go ask

LadyExcellency:
There is nothing like deregulation without abolishment of Petroleum Products Equalisation Fund.

Remove Equalisation Fund and see petrol sell N150 in Rivers State and N300 in Sokoto State.

Partial deregulation is nonsense.

Northern Politicians can't remove Equalisation Funds to avoid being beheaded.

can you please enlighten fellow Nairalanders on equalization fund and how best it can be removed??

The answer is no.

Prices will rise because we are importing for now

It is when there is the hoped for increase in refining capacity due to increased investment from subsidy removal that prices will actually drop.

Atiku, like Buhari in 2014 is playing politics and also playing on the misunderstanding of most people on how a subsidy actually works

If it played out like he says it should, it would have long since been done by the government. Total vote winner

Atiku should have researched the total cost of production. Production cost may have increased. The meaning of subsidy is that Govt is not subsidizing anything, not that our pump price will be reflecting the global market price. Oil price has no effect on the cost of production. Cost of production is still the same. Our cost of production is still high.

LadyExcellency:
There is nothing like deregulation without abolishment of Petroleum Products Equalisation Fund.

Remove Equalisation Fund and see petrol sell N150 in Rivers State and N300 in Sokoto State.

Partial deregulation is nonsense.

Northern Politicians can't remove Equalisation Funds to avoid being beheaded.

Thats right. They should remove it and get-off

amc:
Atikuloot is an olodo who didn't go to school, just like some of his followers who agree with his tweet.

The answer is CURRENCY DEVALUATION.

What did Atiku do that hasn't been done under buhari?

Atiku is a total disappointment!

Subsidy kept the fuel price lower than the global markets,including that of USA.

The subsidy was removed just this year,May 2020.And Atiku is comparing USA 2019 price.


Even a primary school student would expect an automatic rise in the price,without the subsidy .

We are importing fuel ,oil price has gone up,exchange rate has gone up,subsidy has been removed and Atiku expects price reduction. What a shame!


Anyway I am not surprised.

You get messed up in a bid to be populist and playing to the gallery and emotions, in a matter that requires only the application of elementary logic.

I beg it is not by force to be president of Nigeria oooo...

mamaafrik:
can you please enlighten fellow Nairalanders on equalization fund and how best it can be removed??

Equalisation fund,( this is what I think it is) is the money paid by government to the transporters and marketers of fuel to cover their transport costs from port to selling point.

Without it, the price of fuel in Kano would be higher than the price of fuel in Lagos, due to the cost of transportation of fuel from the Lagos ports to Kano.

( Assuming transport is by road. If the pipeline system was working well, the cost would fall)

LadyExcellency:
There is nothing like deregulation without abolishment of Petroleum Products Equalisation Fund.

Remove Equalisation Fund and see petrol sell N150 in Rivers State and N300 in Sokoto State.

Partial deregulation is nonsense.

Northern Politicians can't remove Equalisation Funds to avoid being beheaded.

PEF is a fund set-up by the Nigerian government for the reimbursement of petroleum marketing companies for any losses suffered by them arising from the sale of petroleum products at uniform prices throughout Nigeria,but the marketers despite this payment,they still hide the petrol to make it scarce and DPR has not been able to tackle this issue

amc:
Atikuloot is an olodo who didn't go to school, just like some of his followers who agree with his tweet.

The answer is CURRENCY DEVALUATION.

keep providing answers for the current looters to continue in their loot while blaming the old looters benefit boys well done u hear?

Nbotee:
ZonBs will always be quick to attack the messenger while ignoring d message.. Dis govt is d definition of classic cluelessness

you said the same thing about GEJ

Originakalokalo:

For the children of God, if you love yourself, pray for the kingdom of God to come.

The kingdom of men has failed...no one is coming to make things better.

The earlier we leave here the better.

Come quickly Lord.

The lord that allowed your forefathers suffer slavery for 500 years? Please grow up.

It's better to be a ghanian now

Officialgarri:
Atiku better sit down patiently with the person that explained the economics behind deregulation instead of rushing to social media.
These people called Politicians are just as dumb as anyone.

Fine, when Buhari first deregulated in 2016, Oil price dropped "due to competition" by 1 naira, but what happened after, it flew right up to #145.
This is because Oil is always in high demand and the higher the demand the higher the price.

Officialgarri's law states that "Any product with increasing demand and without corporate regulations will have it's market price competing mostly at increasing prices" e.g Cryptocurrencies
Hence, the introduction of subsidy. If not for regulation and subsidies, gas was initially supposed to be selling at about #179 but the Government pays about #46.

So someone tell me something interesting about deregulation

And of course Atiku seems to have forgotten that refined Petroleum is imported, and that import is paid for in $s, and that our foreign reserve in those $s is low, that we are deeply indebted... The guy should stop playing politics with his selective amnesia.

That is a very stupid submission..

JesusJesus:
Atiku is always trying to make a point but believe me, there's no other description of Atiku but Thief, ole, barau

ur sentence says it all.

Officialgarri:
Atiku better sit down patiently with the person that explained the economics behind deregulation instead of rushing to social media.
These people called Politicians are just as dumb as anyone.

Fine, when Buhari first deregulated in 2016, Oil price dropped "due to competition" by 1 naira, but what happened after, it flew right up to #145.
This is because Oil is always in high demand and the higher the demand the higher the price.

Officialgarri's law states that "Any product with increasing demand and without corporate regulations will have it's market price competing mostly at increasing prices" e.g Cryptocurrencies
Hence, the introduction of subsidy. If not for regulation and subsidies, gas was initially supposed to be selling at about #179 but the Government pays about #46.

So someone tell me something interesting about deregulation

I thought the Dullard in Aso Rock said he don't know anything about subsidy

kikero:


That's why those of us who want to have a decent conversation about subsidy can't do so without being accused of political intentions

If you truly have a point to across, you should do so regardless of what some of us would say anyways. At the end of the day, the point would be ed. But people like Atiku can't really be trusted. He was VP for how many years? What did he contribute to the country asides corruption? Let's call a spade a spade, these folks are just playing with Nigerians' intelligence.

GamalNasser:
As long as Buharis incompetence keeps the Naira unstable there is no way international price of crude will be the only parameters that affect the cost of petrol in Nigeria ... The recent increase came as a result of failing Naira and not international crude price ...as I predicted last that the Naira will slide by today and now it's has , automatically Buhari has to resume payment of secret subsidy for the next shipment of Petrol coming or he increases the pump price again ..

The only way out of this is either we get competent leader if we want to keep importing petrol or we we fix our refineries ..

I actually expect fuel price to hit NGN200 if we deregulate and start full scale local production.

Atiku should stop wasting his precious time. Nigerians are comfortable with the price. Even if it's 500 per liter, majority will be okay with it.
We must get sense by force

Spot on!

Oga gani o

Nfora:
Atiku is a total disappointment!
Subsidy kept the fuel price lower than the global markets,including that of USA.
The subsidy was removed just this year,May 2020. And Atiku is comparing USA 2019 price.
Even a primary school student would expect an automatic rise in the price,without the subsidy .
Anyway I am not surprised.
You get messed up in a bid to be populist and playing to the gallery and emotions, in a matter that requires only the application of elementary logic.
I beg it is not by force to be president of Nigeria oooo...

What is it with the Association of Past/Present Criminals, APC and terrible lies?
Why tell ojukoroju bold face lies as if every Nigerian is a zombie?
How many times will Barawo Bubu remove the fuel subsidy that he removed in 2016 as his 1st anniversary gift to Nigerians?


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Kachikwu: Subsidy Removal Will Save N16.4bn Paid to Marketers Monthly
May 16, 2016

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the federal government would have had to cough up N16.4 billion every month to offset the subsidy claims of oil marketers had it not taken the decision to remove the subsidy on petrol.

Kachikwu, in a series of tweets sunday, explained that at the time the government made the decision, it was incurring about N13.7 kobo as subsidy on each litre of petrol bought by Nigerians.

https://www.thisdaylive.com/index.php/2016/05/16/kachikwu-subsidy-removal-will-save-n16-4bn-paid-to-marketers-monthly/

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lawyer:
May 12, 2016

Buhari/APC are very smart. I now understand the format.

Make Fuel scarce for 8months.

Make Nigerians very Frustrated.

Make them buy it at exorbitant prices from 150-250 Naira per litre.

Make it very difficult to even get the fuel even at that price.

Make them beg for black market fuel at N300 per Litre.

Continue to blame Gej and Pdp for the fuel Scarcity.

Make FX scarce. Make people queue for hours and ignore their cries and pains.

Tap into a typical Nigerian's excessive calmness, patience and dislike to queue and suffer.

Promise them Fuel Scarcity would end May 7th.

Re-Introduce the Fuel Scarcity on May 9th.

Make people start begging Buhari/APC to ‪#‎endfuelqueues‬.

Send Buhari to the U.K on May 10th to disgrace us and tell the whole world "Yes Nigeria is Fantastically Corrupt" to deflect attention on what is going back home.

Increase Fuel price from N97 to N145 on May 11th without considering the masses or providing any palliative to cushion the effects of the massive inflation that would result from it to further impoverish Nigerians.

Lie to Nigerians that NLC and all the Governors and Senators are in . ( Meanwhile its not true)

Change the narrative that ‪#‎OccupyNigeria‬ 1 wasn't about reversal of Fuel subsidy under GEJ but because they didn't trust GEJ to do it well because he was corrupt.

Promote a lot of Social media activists and APC fans living outside Nigeria to tell the world why the new fuel subsidy removal is the best thing to happen to Nigeria since Fried Rice and Chicken because they trust Buhari.

Forget to remind Nigerians that since we do not have 24 hours light, we rely on Generators to run businesses and homes.

For example i spend 20 liters daily on my car to shuttle between Mainland and Lekki. I suffer at least 2 hours of Traffic inside heat so the A/C must be on. If i buy Fuel now for N145 per litre, that means i spend N87,000 a month on Fuel in my car. (Where i wan see am?)

When i get home i must buy at least 10 litres every day for the home Generator. That's N43,500 in a month Making a total of N130,500 a month on Fuel. Let me not add the 20liters per day i buy to run my office generator o!

I have not added cost of food, Fashola's (aka Minister of Darkness) new high increment in Nepa bills, taxes, food, inflation on every damn thing and miscellaneous expenses.

Why then would Nigerians not be Fantastically Corrupt to survive when Buhari's Government only understands Increment, taxes, tolls, pain and suffering and the minimum wage is N18,000 per month while they rejected just 2 weeks ago to increase workers wages. APC lied that if Buhari wins the election, Fuel would be N40 per litre. Little did we know they meant N145 per litre. Every single thing Buhari met in May 2015 has increased 100% just under one year.

We could live with his bland and vapid economic policies but why compound it with an 80% increase from N86 to N145? This is beyond heartless and cruel. Nobody deserves this kind of wickedness. Even convicted Murders don't deserve this kind of suffering talk less of hard working Nigerians.

Since May 29 2015 almost everyone i know has complained that Business has been bad and their wallets are getting slimmer. No economic improvement or sign of better things to come. Rather its one propaganda or the other about how Minister A chop money or Governor F Stole $100 billion meanwhile the hard working Nigerians who have nothing to do with it are getting hungrier everyday and starving because there is no economic blue print but out of the blues ..BOOM!!! N145 per liter. Pay it or jump into the Lagoon.

To you guys abroad ing the wicked policies of Buhari on twitter or Facebook, don't think you are exempt from it. The families/relatives you left behind in Nigeria are going to suffer it too and you would be getting daily calls from Nigeria for you to send Western Union because "Hunger they catch them". The money you intended to use to do something good or feed your family would finally end up in a petrol station in Lagos till you finally get fed up.

NLC over to you. We would you whenever your ready to shut Nigeria down with #OccupyNigeria 2 to make Buhari reboot his brain and reverse his archaic and medieval 1984 economic policies.

- Omonile Lawyer

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NovusHomo:

And of course Atiku seems to have forgotten that refined Petroleum is imported, and that import is paid for in $s, and that our foreign reserve in those $s is low, that we are deeply indebted... The guy should stop playing politics with his selective amnesia.

Correct.

Atiku is ''preparing'' for 2023

Officialgarri:
Atiku better sit down patiently with the person that explained the economics behind deregulation instead of rushing to social media.
These people called Politicians are just as dumb as anyone.

Fine, when Buhari first deregulated in 2016, Oil price dropped "due to competition" by 1 naira, but what happened after, it flew right up to #145.
This is because Oil is always in high demand and the higher the demand the higher the price.

Officialgarri's law states that "Any product with increasing demand and without corporate regulations will have it's market price competing mostly at increasing prices" e.g Cryptocurrencies
Hence, the introduction of subsidy. If not for regulation and subsidies, gas was initially supposed to be selling at about #179 but the Government pays about #46.

So someone tell me something interesting about deregulation

Have you EVER bought gas #133 in your life?
Be deceiving yourself..
The price of petrol is linked to the price of crude oil,Mr Economics..
So,like Atiku asked,if Crude oil prices are down why is our imported petrol going up in price?

With lots of intelligent young men in Nigeria, none can help atiku?

Dalby:
Bros nothing stops you as a business man from bringing in fuel for the purpose of getting the landing cost in Nigeria, with this you have evidence, not hear say. We export the crude, it is refined and we ship it back in. All the TAM that was done on the refinary while you were in office have failed to yield the desired results.

If you ask me, na who I go ask

Under Barawo Bubu, only NNPC is allowed to import fuel, so that they can quietly steal and loot as Abacha did without us knowing what was going on.


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Nwaelohim:
With lots of intelligent young men in Nigeria, none can help atiku?

Do you think that Fashola young and intelligent?


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NovusHomo:

And of course Atiku seems to have forgotten that refined Petroleum is imported, and that import is paid for in $s, and that our foreign reserve in those $s is low, that we are deeply indebted... The guy should stop playing politics with his selective amnesia.

The price of refined petrol is tied to the price of its primary source which is crude oil..
So if the price of crude oil is down,how come we have been continuously buying petrol at higher prices?

JesusJesus:
Atiku is always trying to make a point but believe me, there's no other description of Atiku but Thief, ole, barau

and Ur Buhari is what? LIFELESS

NovusHomo:
And of course Atiku seems to have forgotten that refined Petroleum is imported, and that import is paid for in $s, and that our foreign reserve in those $s is low, that we are deeply indebted... The guy should stop playing politics with his selective amnesia.

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