Nigerian Times

  This increase of fuel pump ⛽ prices matter may likely force many NIGERIANS to this 🤣🤣🤣 #FuelScarcity #FuelSubsidy #pumpprice #gas #Nigeria

Dr. Ngozi Okonjo-Iweala Potential Benefits From Budget 2012 And Sure-P ~ By Dr. Ngozi Okonjo-Iweala Against the backdrop of the recent debate on the removal of fuel subsidies , and the calculated misinformation being peddled by opponents of this policy, it is pertinent to highlight, in more tangible terms, some of the significant allocations that have been made to essential sectors of the economy, both in the 2012 budget as well as the recently-launched Subsidy Reinvestment and Empowerment Programme (SURE-P). This programme is a 3—4 year programme designed to mitigate the immediate impact of the removal of fuel subsidy and accelerate economic growth through investments in critically-needed infrastructure. It is noteworthy that, while the 2012 budget allocated the best possible amounts to these critical projects, additional resources are allocated to the same projects in the SURE programme to ensure that they are completed at faster rates than envisioned in the 2012 budget. Some of the ...

President Goodluck Jonathan. Uneasy lies the head that wears a crown . Nigerians Report is yet to verify the purported plot to impeach President Goodluck Jonathan, but was reported to have failed. The plot was hatched in the U.S. to impeach him before the approval of the 2012 Budget and to stop the removal of the fuel subsidy on petrol. Top oil marketers of the cabal and legislators conspired in the plot, including the richest black man on earth according to the Forbes magazine. The plot leaked to President Goodluck Jonathan and the evidence is all on tape. That was why he hurriedly announced the removal of the fuel subsidy on petrol ahead of the scheduled deregulation of the downstream sector later in the year. The plotters who have scammed the government for years are even major donors and sponsors of first Presidential Library in Nigeria and also sponsored the election of President Goodluck Jonathan. But can the President have the balls to prosecute the sacred cows who presently are...

In Peace Or In Pieces http://www.nairaland.com/nigeria?topic=844936.0;wap2

Nationwide strike over removal of fuel subsidy shuts down Nigeria. Nigerians rally against the removal of fuel subsidy on petrol at the popular Gani Fawehinmi Park in Ojota, Lagos.Photo Credit: Nairaland . In spite of the spate of terrorist attacks by the dreaded Boko Haram Islamic Jihad group and other unidentified elements of the lunatic fringe on rampage in the middle belt and northern states, the nationwide strike to protest the undemocratic removal of the fuel subsidy on petrol has shutdown all commercial activities in Nigeria, except for neighbourhood convenience stores and canteens where the people could buy foods and drinks to feed and stay the course of the strike action. Prof. Pat Utomi among protesters on the street at Falomo roundabout in Ikoyi, Lagos. Photo Credit: Nairaland . The organized labour unions, Nigerian Bar Association, human rights bodies, student unions, both academic and non-academic staff unions and other coalitions called Occupy Nigeria led the vanguard of ...

Nigerian legislators often forget that they are no longer school pupils in a secondary school . I have just been following the so called emergency session of the House of Representatives on Sunday January 8, 2012, to address the unpopular removal of the fuel subsidy on petrol and the state of emergency over terrorist attacks in the middle belt and northern states. But I see that majority of them are not really bothered as they are busy antagonizing themselves without any definite resolution. Many of them are misbehaving like pupils in a classroom and laughing when the country is threatening to implode? They said Nigeria is broke, but they are not even bothered about reviewing their own salaries and allowances and the lopsided revenue allocation formula. Since Nigeria is broke, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) should fix the total monthly salary of a senator at N1.06m and that of a House of Representatives member at N794, 000. And anyone who is not ready...

I have just been following the so called emergency session of the House of Representatives to address the unpopular removal of the fuel subsidy on petrol and the state of emergency over terrorist attacks in the middle belt and northern states. But I see that majority of them are not really bothered as they are busy antagonizing themselves without any definite resolution. Many of them are misbehaving like pupils in a classroom and laughing when the country is threatening to implode? They said Nigeria is broke, but they are not even bothered about reviewing their jumbo salaries and the lopsided revenue allocation formula. Since Nigeria is broke, the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) should fix the total annual emoluments comprising the basic salary of N12, 026, 400 for a senator and N10,985, 212.50 for a representative. The following allowances should be suspended until further notice,with the exception of the allowances for annual leave. Accommodation allowan...

Following his unilateral removal of subsidy on premium motor spirit (PMS) on the first day of the new year, the fans numbering over 678,829 turned against him enmass and have been raining curses upon him in torrents. Korrect Nation From all indication­s of the nationwide protests over the removal of the fuel subsidy on petrol, majority of Nigerians will even welcome a coup d'état to remove the corrupt and unpopular administra­tion of their once beloved, but now called an incompeten­t President Goodluck Jonathan as the protesters are asking for his impeachmen­t. Ironically the much talked about good luck of his first name has turned to bad luck to the poor masses of Africa's most populous nation where the majority live on less than $2 a day. Since President Jonathan has become the most cursed President on Facebook and majority of Nigerians will certainly celebrate his removal on the streets. Tweet

President Goodluck Jonathan plunged himself into a quagmire between the devil called "Boko Haram" and the deep blue sea of angry masses protesting the unpopular removal of the fuel subsidy on petrol since New Year's day to date. Mr. President, Public Offers and Sensitization about Oil Deregulation Came too late ~ By John Egbeazien Oshodi, Ph.D No one doubts that there could be a long-term benefits for all Nigerians from the massive oil price deregulation but the ill-timed manner by which executive decision was made showed poor management style. This leadership blunder has not only resulted in a state of economic and social confusion but it has equally received tensed response to split-minded way with which the government reached its decision. The ineffectiveness behind the fuel subsidy removal order remains clear as evidenced in the people’s painful reactions. Certainly, in an economy like Nigeria which is marked by severe economic gap and class division among the people,...

One barrel is 42 gallons or 168 litres. The price of 1 barrel of petrol at the Depot gate is the sum of the cost of crude oil, the refining cost and the pipeline transportation cost. Refining costs are at $12.6 per barrel and pipeline distribution cost are $1.50 per barrel. The Distribution Margins (Retailers, Transporters, Dealers, Bridging Funds, Administrative charges etc) are N15.49/litre or $16.58 per barrel. The true cost of 1 litre of petrol at the Mobil filling station in Port Harcourt or anywhere else in Nigeria is therefore ($5 +$12.6+$1.5+$16.6) or $35.7 per barrel . This is equal to N33.36 per litre compared to the official price of N65 per litre. Prof. Tam David West is right. There is no petrol subsidy in Nigeria . Rather the current official prices are too high. Let us continue with some basic energy economics. The government claims we are currently operating our refineries at 38.2% efficiency. When we refine a barrel of crude oil, we get more than just petrol. If we re...

Ben Murray-Bruce Subsidizing Transport for the Poor: An Initiative ~ By Ben Murray Bruce A good plan is only as important as the willingness to execute it. Since Independence in 1960, successive administrations have paid little attention to the poor. Government has played the role of Robin Hood, unfortunately though in reverse: they have taken from the poor to subsidize and sustain the rich. I urge the Federal Government to reverse that role and play the real Robin Hood, and now take from the rich and give to the poor. This simply means that they must ensure that the rich make the same sacrifice that the poor have made and continue to make. After all, it is not a sin to be poor. The government of Nigeria must practice what it preaches. If it does and implements the Ben Bruce Transport Policy it will go a long way in easing the untold hardship the increase in the cost of petrol will have on the Nigerian masses. The Ben Bruce transport policy is simple, realistic and very achievable. I p...

The fuel subsidy has never favoured the majority of Nigerians, but the oil marketers and their distributors who are major stakeholders in the corrupt government of President Goodluck Jonathan of Nigeria. The masses don't own the filling stations and they don't import fuel. So who are those ripping them off? The oil marketers importing fuel and the owners of filling stations who are leading members of the corrupt ruling party and the President is their major beneficiary. The real beneficiaries of the misappropriated fuel subsidy in Nigeria are the Nigerian National Petroleum Corporation (NNPC) and others on the following list. List of Petroleum/Oil Marketing Companies in Nigeria September 24, 2007 The list below contains the names of the oil marketing companies in Nigeria. Companies that are only involved in the downstream section of the oil chain. The list is not exhaustive but these are the main players in the industry. The information is available both in the ta...

Why Nigerians Must Protest and Reject the Illegal Removal of Fuel Subsidy The sudden announcement of the removal of fuel subsidy on New Year’s Day shocked Nigerians who were still on holidays and they were outraged by the overnight change in the pump price of petrol by owners of filling stations across Nigeria without any authorized benchmark price by the Petroleum Products Pricing Regulatory Agency (PPPRA). It is brazenly corrupt and outrageously fraudulent for the filling stations to start selling fuel at exorbitant pump prices immediately the government announced the removal of fuel subsidy on January 1, 2012, without any notification to the citizens who are the primary consumers. The fuel being sold between N137 and N200 per litre was imported under the fuel subsidy regime; therefore it is daylight robbery of consumers by the corrupt and fraudulent government, oil marketers and their distributors with thousands of filling stations all over Nigeria. Millions of litres of fuel imp...