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Federal Government of Nigeria determined to remove Fuel Subsidy

The Presidency announced all the thirty six state Governors of the Federal Republic of Nigeria and other key stakeholders in Nigeria reached an agreement with the Federal Government to scrap Oil subsidy.
The Governors represent diverse Political parties in Nigeria, namely, the Peoples Democratic Party (PDP), the Action Congress of Nigeria (ACN), All Progressives Grand Alliance (APGA), All Nigeria People’s Party (ANPP), Congress for Progressive Change (CPC), and Labour Party (LP).
The Special Adviser on Media and Publicity to the President, Dr. Reuben Abati, said President Goodluck Jonathan is currently holding nuanced consultations with stakeholders in order to ensure the removal of Oil subsidy is implemented also the President does not want to project himself to the public as trying to force Oil subsidy removal on them.
Dr. Reuben Abati went further to state, “You know that one major constituency that has been carried on board is the governors. The money that the governors are fighting about is the money for subsidy. They are saying nobody should deduct anything from their allocation to go and subsidize petroleum products, which means the governors were the first to even push the bill and many of these governors, if you have been monitoring their commentaries, you will see that almost all the governors have spoken up in support, the truth of the matter is that, since the fuel subsidy bill was submitted as part of that medium term framework, there has been a series of meetings. There has been series of it. It is not just that government wants to ram deregulation down the throat of people.” What are you thinking?

3 Responses to “Federal Government of Nigeria determined to remove Fuel Subsidy”

  1. THE SUBSIDIES HIDDEN SECRET REVEALED “E O ROJU AYE REE LODE”

    By research, a barrel of oil cost $25.2 to refine.
    http://business.whatitcosts.com/refine-oil-pg3.htm

    It cost between $0.30 to $0.60 to refine a gallon of oil.
    Since we have 42 gallons in a barrel therefore: Using the maximum cost per gallon which is $0.60
    It will cost $0.60 X 42 gallon = $25.2 dollars
    That is $25.2 dollars to refine 1 barrel of oil.
    Since we have 159 litters of product in 1 barrel of crude oil
    Therefore to refine a litter of petroleum product it will cost:
    $25.2 divided by 159 litters = $0.16 aprox
    Converting to naira @155 Naira per dollar = N24.80k

    Using the minimum

    Since we have 42 gallons in a barrel therefore: Using the minimum cost per gallon which is $0.60
    It will cost $0.30 X 42 gallon = $12.6 dollars
    That is $12.6 dollars to refine 1 barrel of oil.
    Therefore to refine 1 litter of petroleum product it will cost:
    $12.6 divided by 159 litters = $0.08 aprox
    Converting to naira @155 Naira per dollar = N12.40k

    FROM OTHER SOURCE:
    http://answers.yahoo.com/question/index?qid=20080803091250AARNcWC
    Question: how much does it cost to refine a gallon of gasoline

    Best Answer – Chosen by Voters
    That isn’t a simple question. different quality crudes give different costs. and the eff of the refinery certainly has an impact.- but for gasoline it costs typically about 50 cents a gallon to refine it to the current low sulfur requirements.

    If it cost 50 cent to refine 1 gallon of gasoline/ petrol
    Since 1 dollar is exchange at aproxi N160
    Then to refine 50 cent = N80

    1 gallon is = to 3.8 liter or aprox 4 litter
    Therefore if 1 gallon is refine for N80
    1 litter will be refined for at least N20

    http://www.supanigeria.org/index.php?option=com_content&task=view&id=30&Itemid=32

    So my brother where did your pple see the subsides?
    How on earth can you add all form of (additive) transportation, tax, logistics and you will arrive at the N149 landing cost claim by your PPPRA.

    Fellow Nigerian this is the hidden secret.

    SEE THE FUEL PRICE SAMPLES FROM SOME COUNTRIES IT IS A HIGHLY REVEALING SECRET .

    http://www.thesun.co.uk/sol/homepage/news/money/article1463274.ece

    See below for the cheapest and dearest countries in the world for petrol.

    How many pence is in 1 British pound
    http://answers.yahoo.com/question/index?qid=20060725063007AAQOA2H

    To convert British pence sterling to Naira

    http://coinmill.com/GBX_NGN.html

    Cheapest

    Unleaded: Cost per liter,
    ___________in POUND STERLING ___________________in NAIRA

    Venezuela………….1.6p ________________________________N4.01k

    Iran……………………5p _________________________________N12.53k

    Saudi Arabia……….6 p _________________________________N15.06k

    Turkmenistan………8p __________________________________N20.04k

    Kuwait/Qatar……….11p _________________________________N27.56k

    Petrol now N65 a litre
    By Yakubu Lawal
    “Under former President Olusegun Obasanjo administration, the fuel price was hiked from N11 to N20 per litre in June, 1999.
    Despite nationwide protest, the price went up to N22 per litre, June 13, 2000.
    On June 1, 2002 it went up to N26 per litre, between June 2003 and October 2003, to N34 per litre and later N42 per litre.
    In 2003, Obasanjo, for the first time introduced petroleum tax in place of another veiled increase of petrol pump price, which was successfully resisted by Nigeria Labour Congress (NLC) and the civil societies.
    On May 29, 2004, the price went up to N50 per litre and N65 on August 25, 2004, shooting up again to N75 on May 27, 2007 just 48 hours to the end of Obasanjo’s tenure. This inheritance by the President Musa Yar’Adua administration did not survive as workers via the labour organisations protested with a shut down. And the new government succumbed with a cut to N70 per litre, which subsisted till last night.
    Earlier, in 1973 the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre while Gen. Obasanjo’s regime (1976 – 1979) raised it to 15 kobo per litre in 1979.
    In 1986, Gen. Ibrahim Babangida’s administration took the price to 39 kobo per litre and raised it again to 51 kobo per litre in 1999; 70 kobo a litre in 1991 and N3.25 kobo in 1993
    In 1994 the late Gen Sani Abacha took it up to N11 per litre and set up the Petroleum Task (Special) Force (PTF), to use the proceeds for development of infrastructure and social amenities.
    In 1997 Abacha took it up to N20 per litre.
    Since then, the price of fuel has continued to rise. The only reason often claimed for the hike by all governments was that the government was subsidising the price of petrol by various figures.”
    READ THIS AND PASS IT ALONG. JOIN IN THE TEAM THAT WILL RELEASE NIGERIAN FROM IGNORANCE WHO CONTINUE TO ACCEPT AND TAKE THIS EVIL OF DEREGULATION AND SWALLOW IT WITHOUT QUESTION. Act now so that the baton of slavery is not pas over to your children. From Pastor Ayoola Iyana Ipaja BE A PART OF THE MOVEMENT BY JOINING:
    “Movement For Accountable and Good Governance” ON FACE BOOK

  2. Name says:

    THE SUBSIDIES HIDDEN SECRET REVEALED “E O ROJU AYE REE LODE”

    By research, a barrel of oil cost $25.2 to refine.
    http://business.whatitcosts.com/refine-oil-pg3.htm

    It cost between $0.30 to $0.60 to refine a gallon of oil.
    Since we have 42 gallons in a barrel therefore: Using the maximum cost per gallon which is $0.60
    It will cost $0.60 X 42 gallon = $25.2 dollars
    That is $25.2 dollars to refine 1 barrel of oil.
    Since we have 159 litters of product in 1 barrel of crude oil
    Therefore to refine a litter of petroleum product it will cost:
    $25.2 divided by 159 litters = $0.16 aprox
    Converting to naira @155 Naira per dollar = N24.80k

    Using the minimum

    Since we have 42 gallons in a barrel therefore: Using the minimum cost per gallon which is $0.60
    It will cost $0.30 X 42 gallon = $12.6 dollars
    That is $12.6 dollars to refine 1 barrel of oil.
    Therefore to refine 1 litter of petroleum product it will cost:
    $12.6 divided by 159 litters = $0.08 aprox
    Converting to naira @155 Naira per dollar = N12.40k

    FROM OTHER SOURCE:
    http://answers.yahoo.com/question/index?qid=20080803091250AARNcWC
    Question: how much does it cost to refine a gallon of gasoline

    Best Answer – Chosen by Voters
    That isn’t a simple question. different quality crudes give different costs. and the eff of the refinery certainly has an impact.- but for gasoline it costs typically about 50 cents a gallon to refine it to the current low sulfur requirements.

    If it cost 50 cent to refine 1 gallon of gasoline/ petrol
    Since 1 dollar is exchange at aproxi N160
    Then to refine 50 cent = N80

    1 gallon is = to 3.8 liter or aprox 4 litter
    Therefore if 1 gallon is refine for N80
    1 litter will be refined for at least N20

    http://www.supanigeria.org/index.php?option=com_content&task=view&id=30&Itemid=32

    So my brother where did your pple see the subsides?
    How on earth can you add all form of (additive) transportation, tax, logistics and you will arrive at the N149 landing cost claim by your PPPRA.

    Fellow Nigerian this is the hidden secret.

    SEE THE FUEL PRICE SAMPLES FROM SOME COUNTRIES IT IS A HIGHLY REVEALING SECRET .

    http://www.thesun.co.uk/sol/homepage/news/money/article1463274.ece

    See below for the cheapest and dearest countries in the world for petrol.

    How many pence is in 1 British pound
    http://answers.yahoo.com/question/index?qid=20060725063007AAQOA2H

    To convert British pence sterling to Naira

    http://coinmill.com/GBX_NGN.html

    Cheapest

    Unleaded: Cost per liter,
    ___________in POUND STERLING ___________________in NAIRA

    Venezuela………….1.6p ________________________________N4.01k

    Iran……………………5p _________________________________N12.53k

    Saudi Arabia……….6 p _________________________________N15.06k

    Turkmenistan………8p __________________________________N20.04k

    Kuwait/Qatar……….11p _________________________________N27.56k

    Petrol now N65 a litre
    By Yakubu Lawal
    “Under former President Olusegun Obasanjo administration, the fuel price was hiked from N11 to N20 per litre in June, 1999.
    Despite nationwide protest, the price went up to N22 per litre, June 13, 2000.
    On June 1, 2002 it went up to N26 per litre, between June 2003 and October 2003, to N34 per litre and later N42 per litre.
    In 2003, Obasanjo, for the first time introduced petroleum tax in place of another veiled increase of petrol pump price, which was successfully resisted by Nigeria Labour Congress (NLC) and the civil societies.
    On May 29, 2004, the price went up to N50 per litre and N65 on August 25, 2004, shooting up again to N75 on May 27, 2007 just 48 hours to the end of Obasanjo’s tenure. This inheritance by the President Musa Yar’Adua administration did not survive as workers via the labour organisations protested with a shut down. And the new government succumbed with a cut to N70 per litre, which subsisted till last night.
    Earlier, in 1973 the military government of Gen. Yakubu Gowon increased the price of petrol to 9 kobo per litre while Gen. Obasanjo’s regime (1976 – 1979) raised it to 15 kobo per litre in 1979.
    In 1986, Gen. Ibrahim Babangida’s administration took the price to 39 kobo per litre and raised it again to 51 kobo per litre in 1999; 70 kobo a litre in 1991 and N3.25 kobo in 1993
    In 1994 the late Gen Sani Abacha took it up to N11 per litre and set up the Petroleum Task (Special) Force (PTF), to use the proceeds for development of infrastructure and social amenities.
    In 1997 Abacha took it up to N20 per litre.
    Since then, the price of fuel has continued to rise. The only reason often claimed for the hike by all governments was that the government was subsidising the price of petrol by various figures.”
    READ THIS AND PASS IT ALONG. JOIN IN THE TEAM THAT WILL RELEASE NIGERIAN FROM IGNORANCE WHO CONTINUE TO ACCEPT AND TAKE THIS EVIL OF DEREGULATION AND SWALLOW IT WITHOUT QUESTION. Act now so that the baton of slavery is not pas over to your children. From Pastor Ayoola Iyana Ipaja BE A PART OF THE MOVEMENT BY JOINING:
    “Movement For Accountable and Good Governance” ON FACE BOOK

  3. Simone says:

    I think oil is destroing Nigeria and Nigerians

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