Nigeria set to fully deregulate downstream, petrol to sell for over N100 a litre

petrol station fuel

Barring any last-minute change in plans, the federal government will,  in a few days, introduce policy changes heŕalding the full deregulation of the downstream sector of the Nigerian petroleum industry, officials well briefed on the matter have told PREMIUM TIMES.

Nigerians may have to brace up for a minimum of 27.17 per cent hike in fuel price nationwide, the officials said.

The policy, they say,  is likely to push the pump price of petrol to about N110 per litre at NNPC-owned filling stations and higher at other independent outlets. 

Amid fears of a possible backlash reminiscent of the reaction by Nigerians in January 2012 when former President Goodluck Jonathan attempted to introduce a similar measure, PREMIUM TIMES learnt that no formal announcement of the policy would be made by government.

Industry sources familiar with the plan said government was on the verge of discreetly giving permission to petroleum products marketers to gradually adjust their pump prices as early as midweek to signal the formal take-off of deregulation in the country.

The sources, who asked not to be named because of the sensitive nature of the matter, said government resorted to that drastic decision to end the vicious cycle of fuel scarcity crises and avoid subsidy payments.

Unlike the situation in 2012, the sources said government appeared to have successfully wooed organised labour and its affiliate unions to its side.

That claim could not be independently verified by PREMIUM TIMES. The General Secretary of the Nigeria Labour Congress, NLC, Peter Ozo-Eson, said he was unable to respond to the reporter’s enquiries, as he was in a meeting. He did not also respond to the text message sent to his telephone on Sunday.

Also, , the acting Executive Secretary, PPPRA, Sotonye Iyoyo, did not respond to calls, and a text message.

Insiders well briefed on the matter said top level secret meetings had been going on all week to weigh the security implications of the possible fallouts of the policy.

One of the meetings was held at the headquarters of the State Security Service in Abuja where the Minister of State for Petroleum Resources, Ibe Kachikwu, and his counterpart in the Ministry of Labour and Employment, Chris Ngige,  met with heads of security agencies to finetune possible security response should Nigerians pour into the streets to protest the policy. 

Official spokespersons for key petroleum industry agencies were evasive when asked for comments Sunday afternoon.

NNPC spokesperson, Garbadeen Mohammed, said reports of the planned introduction of deregulation by government was new to him.

Full deregulation policy, which involves opening up the downstream petroleum industry for participation by all players, particularly the private sector, is widely considered the panacea for the incessant fuel supply crisis in the country.

With full deregulation, there will be fair competition, with the burden of petroleum products supply and distribution shared between private investors and government, with both having equal access to all aspects of industry operations, ranging from refining, sourcing, to marketing and distribution.

While government will continue to  monitor and enforce compliance with established standards, products pricing will be determined by the prevailing market forces in an atmosphere of competition.

Over the years, government bore the burden of subsidy payments on petroleum products consumed in the country.

Under the arrangement, landing cost of fuel, plus the distribution margins included in the Petroleum Product Pricing Regulatory Agency (PPPRA) pricing template have always imposed on government the extra burden of shouldering all costs in excess of a fixed retail pump price of N86 per litre as subsidy.

Until January this year when the price of crude oil at the international market dropped to less than $28 per barrel, government was paying subsidy in multiples of billions of Naira annually throughout the period of high oil prices.

With the introduction of price modulating mechanism by government, Nigerians experienced for the first time a situation where marketers had to refund to the PPPRA costs recovered for importing fuel at a landing price lower than government approved price band of N85.50 per litre for NNPC mega stations and N86 for other stations.

With crude oil prices gradually picking up in recent times, Nigerians have begun to hear reports of the return of subsidy payments by government.

A review of the latest PPPRA fuel pricing template for April 28 showed that retail price for petrol stood at N99.38, showig a fresh subsiďy level of between N12.08 and N13.08 per litre.

Our sources said government felt there was no better time than now to implement the decision, particularly when the price of crude oil, which stood at about $41 per barrel at the close of  trading on Friday, was still low.

In January 2012, the NLC successfully mobilized Nigerians to  shut down the country’s economy for five days to oppose the attempt by the Goodluck Jonathan administration to remove fuel subsidy, which resulted in hike in fuel prices nation wide.

That action by labour forced government to rescind its decision on the issue.


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  • Rumournaire

    I really hope the government has the courage to go the whole hog at this deregulation. If really done, PPPRA should become irrelevant and anyone that wants to should be able to import all petroleum products and sell at whatever prices the market determines. This is what was done for diesel (AGO) by Yar’adua administration and since then it has been available at varying prices.

    • growthengine

      Again, well said.

    • William Norris

      And refineries will be built by private investors and the NNPC will be put out of business by competition.
      PPRA will be abolished and government can save some money on salary.

      • Rumournaire

        Sure! I read today that the government now plans to privatise the refineries within the next 12 months. Private investors would definitely make them work. Look at the former Eleme Petrochemicals. When NNPC ran it, it ran at best 20% of its capacity and was a loss maker, just like our refineries are doing now. The government sold it to the Indians (Indorama) and today, it consistently operates at over 100% capacity. It is a big money spinner and Indorama plans to expand it soon! That is what privatisation can do.

        If the staff unions of the refineries who typically want to make trouble over privatisation like, let them offer to buy the refineries, make them work and pay their own salaries from the income. The government should not put any more money into them.

        • William Norris

          The problem is not just the unions.

          You have to understand that a certain section of the Nigerian elite spring from a FEUDAL CULTURE, they have an INSTINCTIVE preference for GOVERNMENT CONTROL because they have historically survived by conquest and parasitism.

          The ONLY PDP President that actually STOPPED or REVERSED privatization or deregulation was Yaradua, a Fulani President.

          He STOPPED the electricity privatization process.

          He REVERSED the sale of the refineries to Dangote.

          He put NNPC in a quandry by “secretly” deregulating kerosene, leaving the company confused about whether they should pay subsidy or not. That was a major cause of the so-called missing $49, 20 or 10 billion.

          The Fulani and other government addicts are a big problem for Nigeria.

          • Rumournaire

            I couldn’t agree more. In fact, I heard that the only reason the government now wants to deregulate the downstream sector is that the newly approved budget makes no provision for subsidy at all. It was when one of the ministers drew PMB’s attention to it recently that he realised there is no way out of deregulation. Apparently, it caught him unawares. God loves Nigeria!

          • William Norris

            Which God?

            ALLAHU AKBAR !!!

          • Rumournaire

            The God I serve loves Nigeria. That is why evil people are being exposed and we have hope of a better future.

          • William Norris

            That means you serve The White Man.

            Because that’s the God that created Nigeria and keeps it united

          • Rumournaire

            Discussion of faith in an online forum such as this may be unproductive. I do know I serve a living God – not any white man – and that living God has been my strength and stay for decades. I don’t know about you.

          • William Norris

            A Nigerian after all !!!

            The White Man also gave you the Jesus that is the most likely deity you worship. That still makes the White Man your God because you take direction from him.

            This is the problem with the Black Man. The White Man or Arab mutt comes to your country and enslaves you, literally steals your country and freedom.

            Yet you take religious direction from the same White Man.

            And the White Man has long ago left the superstition of Christianity behind. The majority of Native born Europeans are atheist.

            In Germany churches are being converted into factories while in Lagos industrial estates factories are being converted into churches.

            The Black Man has a long way to go.

          • marc umeh

            Are you an atheist ?

          • William Norris

            Yes, you can stop reading here or continue below.

            A more complete answer would compel me to tell you that I don’t believe in anything that has no evidence or logic.

            I’m just me, a human being, a living thing.

            I only answer “yes” to the atheism label because that’s what people can generally understand.

            Having said that, I understand the POWER of religion as an organizing force for human society. I believe that religion works best for the collective good of a people when that people…tribe, nation or whatever…. practice a religion that they devised by themselves.

            I’ll give a simple example. Notice in Christian churches that OLIVE OIL is generally used in their rituals. This is simply reflective of WHERE the religion came from. It originated in places where olive trees are endemic and used in daily life. As such Christians in Nigeria are compelled by “faith” to import and BUY olive oil from Europe and Middle East, enriching the OWNERS of that religion.

            In some Native African religions PALM OIL has a place in ritual. If say the Yoruba conquered Brazil or China and imposed their Native Ifa religion, it would be a source of money for the Yoruba. Those foreign people would be compelled by “faith” to buy palm oil.

            It’s clear then that religion is ALSO a means one people exploiting others. Those of HIGHER INTELLECT or CUNNING use religion to exploit OTHERS who are more gullible and/or superstitious. Given that Nigeria is ranked among the most religious nations on earth, I leave you to reach your own conclusions about the Herd of Wildebeest called the Black African.

            Religion is completely man made, but like I wrote earlier, it has its good purposes. The trick is simply to KNOW what it is and what it is not.

          • AA

            Someone had to draw his attention to it! Na wa. Who did this to us?!

          • Rumournaire

            “Who did this to us?”
            Well, when all those stolen billions of Naira under GEJ were being changed to $$$ and carted out of the country, we were being rapidly impoverished. Sadly, the average Nigerian does not see the link between all that and our present predicament.

          • AA

            Please try to follow the conversation my dear.

            It was you who said one minister had to draw the president’s attention to the fact that the budget makes no provision for subsidy! And this is why (according to ur logic) they now decided to deregulate.

            My question is: How is it that the president DID NOT KNOW these things after ONE FULL YEAR of planning and fighting over a budget. How can the president NOT KNOW until the last minute; until someone else has to draw his attention to it?!

            How did we end up with a president and government that cannot plan a simple budget?

            I ask again: Who did THIS to us?

          • Rumournaire

            I misunderstood your question – I thought you were asking who created the hardship we are not having to face. Apologies.

            Ok, back to your question: Recall that in the early days of the budget draft, there was actually negative fuel subsidy. At that time, the government kept the excess reverse subsidy. Over the months, crude oil price picked up to the point that there was now need for real subsidy by the government. But, Kachikwu, either deliberately or inadvertently did not pick up that reality so that provision could now be made for it in the budget. My view is that Kachikwu did it deliberately to force subsidy removal – which had always been his deep conviction.

  • jideofor Madu

    If this is true it is welcome. Good that the Federal Government is finally b ginning to see common sense on economic policy. Next, remove the subsidy on the naira (th nixed exchange rate that is breeding dollar scarcity and so much corruption).

    • growthengine

      Spot on. Nothing to add.

  • Watch man

    It is really amazing that Nigerians are going to witness this conspiracy. Deregulation, privatisation, liberalization or whatever name of the downstream sector as well as devaluation of Naira have always been IMF prescription. The US that is the prime mover of the Bretton Woods institutions have a good number of subsidies for her citizens, especially in the area of agriculture. With this news, one would begin to wonder what the ordinary Nigerians would even benefit from the government. Tam-David West (former Petroleum Minister under PMB) has made it clear at different for a that subsidy does not exist, that it is a device activated for the purpose of stealing public fund. PMB equally concurred during his campaign. His stand has always been that when all refineries are working and more built there would be no need for importation of petroleum products. Nigeria was exporting petrol to other West African countries in the early 90s’. How did it happen? And what went wrong thereafter? These are the questions that need to be asked so as to enable solution to be proffered. No wise nation leaves her areas of comparative advantage at the mercy of businessmen who are only interested in profit making. Nigeria, as oil producing nation, has oil as her main product. Why would government not encourage modular refineries? Why would government not build at least six other refineries in the country? If this is done and with proper management, Nigeria will again not only have enough but would start exporting refined products. It is rather unfortunate that at a time when many nations are looking inwards to what they could produce, Nigeria is busy looking for how to improve her import mechanism. With this approach, we should all expect deregulation (or devaluation) of Naira to be on the way. In fact, Nigerians should brace up for more difficult days. As for labour, I do not think we still have a credible labour movement. This is because labour has become not only a cash and carry movement but a projection of management. Labour movement is dead. What they would do after now is to start striking for increased wages which will in turn increase the cost of living because markets and service providers would increase there product and services price. There would consequently be a rise in inflation and we shall be back to square one – the same old rat race and vicious cycle.

    • Artful ºDodger

      Lack of sense, loads of ignorance, foolishness, stupidity and hypocrisy comes with being igbo especially one of latrine value. Take your stupidity to Vanguard and other latrine forum where you and your lowlife sub-human folks belong!

      • Johnson Ukemeotobong

        Mumuriated artful dodger… Who told you dodging is an art? Retarded brain comes with being fulani and drinking kunu from morning till morning… Take your useless opinion to boko haram forum where you belong!!!

      • Watch man

        I believe Artful Dodger is not a human being. It looks like a +c generated computer malware on auto response. This is so because no normal human being can vomit the kind of stench coming from this auto response programme. PT should get an anti auto-response malware doctor and install on their server to wipe out this kind of comment the moment it appears. I believe it will respond again the moment I finish this comment.

  • Lanre Omotosho

    I am in SHOCK! This government some of us laboured for has turned out to be a harbinger of untold hardship to Nigerians.
    I will not party to the gross hypocrisy demonstrated by most of my co-party men..who support everything blindly. How can I when there is unprecedented hardship all around me?
    Cost of electricity has skyrocketed, cost of fuel is crazy, cost of foodstuff is unimaginably high..YET THERE IS NO INCREASE IN WORKERS WAGES..WHILE COST OF LIVING HAS MORE THAN TRIPLED!
    For God’s sake, Buhari should use the carrot & stick approach to the southern militants. See how we all suffering! Darkness has enveloped the country..while baba has 24/7 power in Aso Rock!
    We are suffering, we are suffering..we are suffering o!

  • Lanre Omotosho

    Buhari: “WHAT SUBSIDY? WHO IS SUBSIDISING WHAT??”
    Tam David West: “fuel will sell for N40/litre under buhari! ”
    SO WHAT IS THIS RUBBISH NOW??

    Fools will come here to say Naijas are already paying over N200/L. Is such an abnormal situation supposed to be prolonged? HAVE THEY ASKED HOW THE MASSES ARE GROANING UNDER THAT SITUATION??

    APC has finished Nigeria!
    APC ya mutu kwatakwata!
    APC is dead..but must they drag hapless Nigerians down with them??

    • Powerlessconscious

      Fuel will sell for #40 when dangote refinery comes up.

      • Lanre Omotosho

        When? Oh..when the poor are dead i guess??
        Where are the palliatives in the interim?

        • Powerlessconscious

          Which of the poor will die? i will be expecting your reply.

          • Lanre Omotosho

            My brother, they are dying daily of poverty and stress related issues. Go to the hospitals and see.
            Any surprise incidents of Suicide and husbands murdering their wives has shot up??
            My brother, we have NEVER had it this bad.

          • Powerlessconscious

            Though All those complains you wrote above have been happening in Nigeria very long time ago. But because it now hitting some of the elites, that is why it becomes news. Why should there be poverty in Nigeria atfirst since when nigeria was created? What caused the current challenges facing the country? If you can these two questions very well, you should have a calm mind.

    • Artful ºDodger

      There are Nigerians with better values and brains here moron. Take your igbo nonsense to the latrine where your folks are!

      • Johnson Ukemeotobong

        Take ur fulani sense to sambisa forest where it is needed to resurrect Shekau!!!

      • Daniel

        But history and lies will hunt this clueless government. I am itsekiri.

        We have records

      • Lanre Omotosho

        If I am igbo as you presume, I am a Bastard.
        But if I am NOT igbo as you accuse me, YOU ARE A PRESUMPTUOUS BASTARD!!!!

        • Watch man

          I believe Artful Dodger is not a human being. It looks like a +c generated computer malware on auto response. This is so because no normal human being can vomit the kind of stench coming from this auto response programme. PT should get an anti auto-response malware doctor and install on their server to wipe out this kind of comment the moment it appears. I believe it will respond again the moment I finish this comment..

    • Daniel

      ‘You too much’ . . . I have told Buharists this many times.

  • Dele I

    This is no news. Already petrol and diesel sell above N150 per litre nationwide! My fatherland is in pain. Even nations in Africa without crude deposit do not have energy crisis. Nigeria is cursed with rogue leaders: Head of State, ministers, governors, Senate Presidents, DGs, commissioners, senators, businessmen, bankers, pastors, “Last Ladies” etc.

  • Analyst

    Why you don’t want to announce it officially. It means it is a scam. If it is good we expect Mr. “Clean” to announce it, but would rather go stealing secretly the way he has been doing it.

    • donMe$$i

      Same way they stole ‘Budget 1’.

    • Artful ºDodger

      Take a rope go and hang! By so doing you will be saving mankind your disgusting self and lowlife mentality.

      • Johnson Ukemeotobong

        Same way you drank ogogoro and dozed off whiles some else slept with ur wife in your bedroom!!!

        • Watch man

          I believe Artful Dodger is not a human being. It looks like a +c generated computer malware on auto response. This is so because no normal human being can vomit the kind of stench coming from this auto response programme. PT should get an anti auto-response malware doctor and install on their server to wipe out this kind of comment the moment it appears. I believe it will respond again the moment I finish this comment…

    • persona

      Actually there is nothing hidden. In January, we were told that price modulation would be adopted. It was explained thus: when prices are low, you get low pump prices, when it increases, pump price will increase also. It is enjoyed presently in the US wherein shale oil has brought the price of petrol to its lowest in years. Countries like Qatar have adopted same after the oil countries could not reach an agreement on oil production freeze. Price modulation is entirely different from what the last administration tried to do. At the moment, subsidy is not paid because they announced that savings made will be used to buffer prices when it goes up. The saving is almost out so, they need to modulate the prices yet again to allow present rates.

      • Sheyi

        This report is about Deregulation and not the so called ‘price modulation’.

        • persona

          Oga Seyi, the writer is obviously not clear about the difference. Did you read the part where he said for the first time, dealers refunded the margins? It is about price modulation and he does not know the difference. It was clearly explained in January by the Junior minister and anyone still not clear and chooses to use deregulation because that has been the operating buzz word for years, needs to upgrade his vocabulary.

          • Sheyi

            The writer mentioned refunded margins in explaining the price modulation which is about to give way to full Deregulation.
            This article article about DEREGULATION which will include complete removal of subsidy.
            THE NEWS HERE IS THE DEREGULATION OF THE SECTOR NOT THE PRICE MODULATION WHICH THE REPORT CLAIMS IS ABOUT TO BE DISCARDED!
            The so called ‘price modulation’ module has failed woefully in guaranteeing efficient fuel supply.
            Stop singing your price modulation song..the NEWS here is the imminent Deregulation of the sector NOT kachikwu’s ‘modulation’.

          • persona

            So ask yourself, did any party confirm it?
            News should be balanced, resourceful and articulate. Everyone interviewed never confirmed that trajectory and yet you choose to believe it. The way deregulation work is clear from the AGO model. Government never gets involved, so ask yourself, why is government involved in price fixing even as indicated by the article? Some things are inferred as you can see from the report that the so called deregulation did mention that government is in to ensure quality and price fixing, does that indicate the model in the importation, distribution and sales of AGO?
            It is not my song, is the policy of the government and yet most of us say the policy is not out there, are we the ones not listening? You don’t need to take my word for it but reading between the lines as educated people. The so called failure is a lapse based on the fact that we are importing and it takes 3 weeks for products to be here and it was compounded by forex issues which was solved by getting the IOCs to use their forex proceeds from crude sales to finance the import. It is expected that every strategy will require refinement along the way. They have learnt from what happened, they have gotten around and past it, so what is failure here as though we never had fuel issues in the past before? We can kick the policy if its not heading anywhere but to ascribe failure to something that happened once is not by any means a failure bit a setback.

  • Artful ºDodger

    This will be a very good development. Those who want to jump into the streets are free to do so. When they are done with their sickness they will face reality.

    • Salisu

      Hahahahahahaha! Well done Bros! Keep defending the indefensible! That must be what puts food on your table.
      APC, CHAINS!!

      • Powerlessconscious

        Subsidy is a scam. #56,000 minimum wage if achieved will coverup for living expenses. Every good country has high living expenses with good minimum wage to coverup. Let the training of change continue moving please.

        • Salisu

          Same guys that can’t pay N18,000??
          Are you for real?

          subsidy is a scam, YET PRICES GO UP WITH ITS ‘REMOVAL’??
          WOW! You get WASC so??

        • WakaPass

          True that.

    • everything about GMB is evil

      FULANI BUHARI IS A CURSE TO NIGERIA PERIOD—-THE MAN DOES NOT KNOW HWERE HE IS GOING IN THE COUNTRY

      • donMe$$i

        He knows where he is going ‘out of the country’
        He is going to London on Tuesday!

        • WakaPass

          Thanks for correcting the dumba$$.

          • donMe$$i

            I was not correcting him. He was absolutely 100% correct .
            The man TRULY does not know where where is going IN THE COUNTRY!

          • donMe$$i

            I was not correcting him. He was absolutely 100% correct .
            The man TRULY does not know where where is going IN THE COUNTRY!

      • Artful ºDodger

        Shut the fk up igbo moron! What do you know about running a government and a decent society. You were born and brought up with wrong propaganda in an era of impunity which is why you do not know any better. Crawl back into the hole you came out from and look for something productive to do with your frustrated life. Buhari does not owe you NOTHING!

        • Daniel

          He is absolutely right I am Itsekiri.

      • Truth_Rocket

        Blow up the pipe lines, create economic sabotage, create insecurity around the country (herdsmen in focus) and make PMB look ineffective at the end of it all. But I can tell you, Nigeria will never return to PDP in our political life any more. We have had enough of you and your likes.

    • Daniel

      Where were you in 2012? Okay now it is possible to remove subsidy.

      Face of a shameless hypocrite. You delay progress because of ethnicity and dirty politics.

      ‘Na look we dey…’

      • donMe$$i

        “You DELAY PROGRESS because of ethnicity and dirty politics.”

        That summarises their foolishness and hypocrisy in a nutshell.

      • Watch man

        ..

  • power must change hand

    Still more questions: if Buhari had been the one elected as the civilian president of Nigeria in 1999, would he even be talking about receiving money from Swiss Government “illegally taken away” under his regime since he maintains, against all concrete evidence, that Abacha never stole our money? So, is it only when a person deals with us and dies that he becomes corrupt, but when he treats us nicely (as Abacha did to Buhari) he becomes a “saint”? If Abacha had not rehabilitated Buhari after being jailed by Babangida; If Abacha had not appointed him as the Executive Chairman of the defunct Petroleum Trust Fund (PTF), where he was given unlimited powers to spend billions of Naira between 1996 and 1998, would Buhari have stuck out his neck for him and say he was not corrupt? Is this the mentality we take with us in fighting corruption, making sure that those who helped us are regarded as clean, while those who wronged us are pursued with a single-minded quest to retrieve their loot and sent to jail? Is this our national standard for integrity? How are we sure that retired Col. Ja’afaru Isa, a close Buhari acolyte who was reluctantly arrested, briefly detained by the Economic and Financial Crimes Commission,EFCC, and released after a couple of days for allegedly returning part of his share of Col. Sambo Dasuki’s bonanza, actually returned anything?

    • Artful ºDodger

      “illegally taken away” under his regime –

      Dude, restrict your hypocrisy to the latrine where your folks belong. There are other Nigerians with common sense and godliness in them here beside you ignorant igbos of latrine value and your foolishness.

      • Daniel

        Please hammer that man very well. He is a grand hypocrite

  • donMe$$i

    2016 BUDGET FACES CASH FLOW EMERGENCIES, MAY LOSE N1.4Trn !
    [Vanguard News, 9/05/2016]

    The 2016 national budget just signed into law by President Muhammadu Buhari may have started suffering a major cash flow set back from oil revenue as prices shed $5 per barrel as at last weekend while output dropped further due to Chevron facility bombing just before the budget was signed, Friday.The Federal Government had based the budgeted revenue on oil production of 2.2 million barrel per day but oil industry reports, last weekend, after the second attack on oil installations, indicated that output would be around 1.6 mbpd or even less.

    The total loss from date to year end on annualized budgetary provisions would be $7.16 billion or about N1.4 trillion, if the oil price fails to rebound sometime down the year and production level remains depressed.

    *LOSSES WIPE OUT 80% OF BUDGETED CAPEX
    The N1.4 trillion revenue shortfall would wipe out about 80 per cent of the total N1.8 trillion earmarked for capital expenditure, CAPEX, in the budget, thereby rendering the reflationary thrust of the budget ineffective from the on-set.

    With the defiant posturing of the militants and threats of further attacks, it appears the output challenges may even get worse, especially as the Nigerian security agencies appeared too weak to arrest the situation.

    • Artful ºDodger

      Vanguard is a compromised newspaper on the payroll of those gaining from the mediocrity they call biafra and its agenda. It is not a reliable source of news!

      • adeade

        Are you still alive?

        • kenn

          He is busy commenting on the forum of an unreliable and compromised news platform. How hypocritical?

        • Watch man

          I believe Artful Dodger is not a human being. It looks like a +c generated computer malware on auto response. This is so because no normal human being can vomit the kind of stench coming from this auto response programme. You can see how the malware is spreading so fast on this platform. It will be better no one responds to it. PT should get an anti auto-response malware doctor and install on their server to wipe out this kind of comment the moment it appears

  • Kamaru K.

    This could be listed as one of their achievements after one year in office on May 29th.
    Well done APC!

  • Powerlessconscious

    Very good development.

  • S.O. Alabi

    Tunde Bakare and Femi Falana will now say yes……..

    Very good. We’ll now see the faces of hypocrites in Nigeria. When President Jonathan did exactly the same thing
    in January 2012, protests were staged in Ojota and Abuja to say no. Will the hypocrites have the consistency of
    principle to say no this time? I doubt it. Pastor Tunde Bakare and Mr. Femi Falana who led the Ojota protests at
    the time are now barnacled to the ruling APC party. Their political and financial interests are presently at stake.
    For those obvious reasons they will more likely lead a YES CAMPAIGN to support full deregulation and removal
    of petrol subsidy which they’d protested against in the year 2012. In the end, Nigeria will become more denuded
    and a lot more bereft. No principle will soon be seen to lay behind behind the staged Ojota protest. Hahahaha!

  • Rommel

    Welcome development so that we settle this once and for all time, also let small scale licensed refineries open

    • growthengine

      Also let small scale licensed refineries open because you said so. Demand and supply will determine the direction of the market, you don’t need to order anyone to set up refinery.

  • Damilola

    Now it is more than evident that this people came to the table without an iota of idea on how to lead this crippled country. With all indications pointing at the fact that they’re not going to meet a rousing State especially the avalanche of oil price, still they hope for a miracle, the same miracle their minions tot wud magic things for em from the Buhari chimera prowess. If this policy had been pronounced at the mallam’s speech a year ago when he was taking over, it wud have been a step well applauded, albeit only by the thinking ones. But he couldn’t because his campaign promises were voodoo and such a declaration of reality wud be frowned at by the vulnerable Nigerians who tot the certificateless man was coming to work for em- unknowingly to em, the man just used us to make sure he revenge his adversaries before he dies, a step he’s succeeding at since he came in, any other thing is secondary and had not been working.

    So what exactly is the bases for fighting the marketers b4? What exactly was the president thinking when he tot he could Deregulate( by avoiding subsidy and not providing forex to d marketers) and still Regulate(telling them how much to sell)?? All this made the masses he sworn to protect, suffer untold pain for months and still on. I think the man his just more of his cows, an average cow only follow the right path after been flogged severally, anyti short of that it follows the bush blindly and thinks it’s on the path.

  • ayobamiba

    I am not buharis apologist but I must sincerely commend buhari for his courageous approach to some of this issues bedevilling Nigerian nation and stunting our progress as a nation. If buhari could summon the courage to deal fatal blows to this monumental fraud called petroleaum subsidy ,he would save nine for this nation. I sincerely stand in support of the total removal of this debilitating wound on Nigerian economy .kudos to Mr buhari and kachikwu for job well done.the savings from the removal should be invested for the next 3 years on roads,aviation and rail infrastructure upgrade evenly spread around the 6 geopolitical zones of nigeria without hypocrisy,bias or discriminations to herald economic boom in Nigeria. If we consider what an annual investment of about 1.5 trillion investment could do to this sector. Having said that ,I think that where I disagreed with buhari is in their seeming lack of openness, transparency, truth and sincerity in dealing with the issues of governance and acknowledging the sincere and dynamic efforts of Jonathan. Buhari would be the best President of Nigeria if he could extricate himself from these bands of hypocrites,deceitful men and women,Hausa /Fulani bigots who never believed in justice,fairness and equity ,and religious bigots who are appropriating him and his government for their selfish,ethno,religious and parochial interest to the exclusion of other Nigerians.if buhari should sincerely stand on his own feet and stretch his hands of love,empathy, care and fatherly conciliatory attitude to all parts of Nigeria ,he will galvanize the support and admiration of generality of broad based Nigerians needed to undertake a holistic restructuring of Nigeria. May God give grace to buhari to do the needful for Nigeria to be great,prosper , trully united and lovingly peaceful. help him God.

    • Johnson Ukemeotobong

      But when GEJ summoned the same courage you and your brothers mobilized touts to shut down his government, right? Don’t you think if we had reasoned with him and allowed deregulation then that this problem would have been over by now? You guys are hypocrites of the highest order but I know you’ll always give excuses for your criminality!!! No problem. One thing I’m happy about is that your kin and kindred are also at the receiving end of this governments’ wayward leadership (assuming you are not feeling it)…

      • persona

        Not everyone was against GEJ then. The idea was subsidy removal which is different from price modulation which has begun since January 2016. The difference is what you should seek to realize. Our brother is at the steering wheel and he gave a straight explanation of what they will do and they have stuck to it. If Kachikwu gave a better explanation than GEJ, then who do we blame? You will recall that even Oshiomole went against his party then to support subsidy removal openly. SO it is unfair to label people and say “your brothers”. Like everything in life, time and season also help anything that we hope to do. Nigerians may align better now simply because its time and the season not necessarily due to blind support as you may have suggested.

        • kenn

          Subsidy removal or price modulation. The only question is whether government is paying subsidy? Any name you call it is irrelevant

          • persona

            I have said it, the explanation clearly indicate that they are not paying subsidy. The junior minister said savings from margins will be saved for days when the prices rise substantially. The implication is such that you see some stability. So, no subsidy is paid to anyone and anywhere at the moment. NNPC has been at the heart of the fuel import. They enlisted IOCs to bring fuel in and that was so they could help pay with forex earnings from oil proceeds they sell on behalf of their operations. WIll NNPC pay subsidy to itself? There is no subsidy anywhere.

        • DON

          Maybe you need to read this news again.
          It’s talking about full deregulation not price modulation.

          • persona

            Bro, it doesn’t make the author right. Deregulation means government gets out entirely, does that look like that is happening if they are the ones setting the price?

          • DON

            Bro, that is more reason why i ask you to read the news again.

            Read this:

            With full deregulation, there will be fair competition, with the
            burden of petroleum products supply and distribution shared between
            private investors and government, with both having equal access to all
            aspects of industry operations, ranging from refining, sourcing, to
            marketing and distribution.

            While government will continue to monitor and enforce compliance
            with established standards, products pricing will be determined by the
            prevailing market forces in an atmosphere of competition.

          • persona

            This is the writer’s opinion, does the government monitor AGO? You can judge what the reality is and it is why I have said that the writer is mixing things up.
            The administration didn’t deregulate but Dangote is building his refinery, they didn’t deregulate, they gave licenses for modular refineries which failed to take off. You can see that there is nothing new to be done, the so called deregulation is not understood by the writer. Fuel importation has been done by both government and private sector for as long as I can recall. Allowing more players is not deregulation is the point I wish you to see my brother. You don’t deregulate and fix prices, you don’t deregulate and be involved in distribution and any form of control or regulation. As long as its petrol, its too vital a commodity to be left in the hands of importers. If the price of crude changes from 28-29 dollars, the pump will change immediately even before the cargo gets into the country, what government has done is to cater for the likely latitude factoring 3 weeks for cargo to get in, international prices and several concessions hence the PPPRA does the needed adjustments. So, the writer needs to understand wht deregulation is before he can stake his claims.

          • DON

            Please will you kindly define deregulation please.

          • persona

            Deregulation simply means take away regulation. If government is still involved by any stretch, its not deregulation. Prices will be determined by the players in any deregulated instance, government will not allow prices of petrol to be fixed by biz men not after how we saw them milk the nation with subsidy claims. My concern is that, the past examples have made it too volatile to be left in the hands of private players as they will not make such a commodity be affordable even to those that run businesses on portable generators and basic transport which affects the larger populace. The solution to that is what is called price modulation, creating buffers to cushion the stress and if there is a corresponding safety net, its introduced. So deregulation is not bad but the practicality as you may have seen for a country that consumes 40m liters of petrol daily, is not the way to go.

          • DON

            Following recent events, do you have anything to say about deregulation as announced by Buhari’s government?

          • persona

            Technically, its liberalization of the sector that was done. Deregulation means taking yourself out and let the players determine and compete for the market. As long as NNPC has put a ceiling on the price/liter, they are in control of the quality and regulate, it is not deregulation.
            Personally, I think there is a lot to benefit the country if the government were to be more strategic.
            Here are some of the views I hold:
            1- FG should license all the illegal refineries, allow them to be formal and give the crude allocations and go the step further to link them to specific filling stations that they will supply on a regular basis.
            2- FG should sell the crude to these “reformed” refineries at a 5% discount because its locally sourced and they deserve the benefits
            3- FG should partner with China to bring scaled refineries that will allow these reformed operators to refine their products so as to maximize gains from what they are doing, reduce environmental pollution and above all, make it an employable business wherein other workers will be gainfully employed.
            4- When these community and especially, ex- agitators are given such licenses, it makes it essential for restoration of peace in the ND and these guys will jealously guard the pipelines against vandalism as their daily wages come from there.
            It is a proposal I have been postulating for years and I hope someone listens to drive inclusion in the region and it will empower more people legitimately than making a few powerful men amongst them.
            If you read the speech of the minister, he did say categorically that they have been using price modulation which was what I insisted on. On the premise of liberalization and deregulation, I think they liberalized it as the minister said that ANY Nigerian is now free to get in the business.
            Thanks for reaching out to know what my views are. I have always stated that this forum should be for learning and idea exchanges as against name calling and abuses. Thanks

          • persona

            I see this as liberalization of the sector and not deregulation because the regulations are still not out.
            The price cap, the quality imported are all part of regulation. Liberalization means that the statement credited to the minster says that ANY Nigerian can freely engage in that business now.
            In essence I have some views on how Fg can make this work even better:
            1- They should encourage the ex-agitators to be actively involved in this business.
            2- The illegal refinery operators should be licensed
            3- The reformed refineries should be encouraged by registering them as a corporate entity and they will be mapped to specific filling stations so that they can ensure they have steady stream of income with those filling stations.
            4- FG should encourage scaled improvised refineries for these reformed refineries so they can reduce pollution to the environment and in turn have a cleaner operation.
            5- FG should give a 5% discount on every barrel of crude to the reformed operators to drive inclusion and to ensure that their production is encouraged.
            6- FGs inclusion in the above recommendations will ensure safety of the pipelines as every Nigerian is now allowed in that business. The restiveness in the ND will abate because their fellow community men will now ensure that their income will be impacted if any breach is allowed.
            7- Regular allocation of crude will be ensured and average output from those improvised refineries probably from China will ensure that scale is encouraged.
            I have stated these views for years and I hope someone is listening now. They have adopted the first step of allowing every Nigerian participate, let us step things up and the completion will drive down price of fuel and above all, we may end up supplying our national consumption easily and above all become self sufficient and end importation.

    • Daniel

      How is this different from what these same characters opposed Jonathan for?

      Why prolong the suffering of Nigerians because of either pride or cluelessness?

      They shall continue to reveal their hypocrisy.

      Had we allowed subsidy in 2012, we would have long done away with fuel scarcity. But ethnicity and dirty politics stood against progress.

      The anti-corruption propaganda is losing its grip on Nigerians daily. What a ‘change’!

      • persona

        Subsidy removal is different from price modulation. You will also recall that GEJ reduced oil prices when the pump price was still higher than what is obtainable now. What GEJ wanted out was removal of subsidy and that will allow people bring in fuel from various places and the government will be out. In price modulation, government will ensure average rate ad with direct oversight. This will ensure that when the prices are low internationally, the prices will thus reflect and the most important of all is that during price modulation, a seeming stability will exist. The stability is that government does some savings based on their margins and use same to buffer when the prices go up due to volatility of the commodity. We have been operating price modulation since January 2016 and that is why since prices shot up from 28 to 41, there has been no price increase until now that it has stabilized at 41 for some time now. The policy was well explained then, I am no economic expert but I got the explanation by the minister and most of all, they have kept the promise that the margin would be used to buffer when prices increase. The same modulation is used in the US, Qatar has implemented same and some other countries. Subsidy is indeed different my brother.

        • lo

          The truth is that most of the “government policy rebels” in Nigeria are from south west and since they have cornered all the juicy portfolios in this government (FIRS, Finance, power, works, housing, SSA etc), nobody will go to the streets even if buhari increase the price to N200 per litre. Femi Falana, Tinubu (NADECO), Tunde Bakari etc are satisfied.

          • persona

            please don’t ascribe such powers where it doesn’t belong. Protest happened when power tarrifs got increased and that was directly under Fashola. The price modulation thing was explained clearly and talking about juicy position, I doubt any is juicy anymore, just more responsibilities dished out to specific people. Consider such responsibilities as a chance for more scrutiny. What they make of it is yet to be seen.

          • musa aliyu

            Before nko? Are they not better than the igbos who flocked jonadumb’s government and foisted the country with Boko Haram, cattle rustling, herdsmen attack, daylight robbery in sharing $16 billion meant for defense to cronies?

          • taiwo

            Juicy portfolios… see how you think.

        • Sheyi

          This article article about DEREGULATION which will include complete removal of subsidy.
          THE NEWS HERE IS THE DEREGULATION OF THE SECTOR NOT THE PRICE MODULATION WHICH THE REPORT CLAIMS IS ABOUT TO BE DISCARDED!
          The so called ‘price modulation’ module has failed woefully in guaranteeing efficient and supply.
          Stop singing your price modulation song..the NEWS here is the imminent Deregulation of the sector NOT kachikwu’s ‘modulation’.

        • Daniel

          In summary, you danced around my question and concluded by saying nothing.

          That is how the Nigerian government works. They struggle to explain common sense.

          • persona

            I tried to explain the answer to your primary question which is how is this different? If you still didn’t get that, I cant help any further. You seem like you have your mind made up and any other explanation asides what GEJ did will not suffice. Others have raised your questions, I have explained to some and they seem to have understood it with facts stated and details of how the model works.

          • Daniel

            The commonsense is this : when the price of crude sold around 100 dollars per barrel , we bought the pump price at 97 naira per litre, due to subsidy.

            Now the same crude oil per barrel hovers around 40 dollars, how much should we pay, even if we are subsidizing? 150 naira per litre?

            Price modulation is so fraudulent. And that is why fuel scarcity persists.

            This is a government, when in opposition, questioned subsidy removal and mobilized ignorant Nigerians to the street to protest in 2012.

            They claimed a litre of unsubsidized fuel could sell at 40 naira per litre in a country where we have low refining capacity. So what has changed?

            Is it when the international market price goes up, the the refined product price will come down locally?

            I have long supported subsidy removal. But these hypocritical and ethnocentric politicians in power now opposed it vehemently.

            Good morning APC.

          • persona

            I will not dwell on the politics of this stuff as you have enumerated because I am apolitical. There is nothing fraudulent about price modulation. The same model works in the US and the prices of crude is what has made it great to get cheap fuel at the gas stations now. I mentioned some other countries where this is done and the prices keep reflecting going rates. Subsidy has been removed and that is a settled issue. The contention here like I have stated is that with deregulation, it was absolute power to the importers but with price modulation, sourcing will be based on best offer basis. As regards your logic of should we not have fuel at cheaper prices now than in 2012, the answer is that the eventual price of fuel should subsidy be removed was never discussed or disclosed. They simply kept saying, it will be determined by market forces but now, we know what the margin is as the writer even adduced. I am always open for a healthy chat, let us leave name calling out of this, let us make the whole thing intellectually stimulating.

          • Daniel

            I will conclude by saying Nigeria is too sophisticated for Buhari to manage.

            Archaic ideas and militaristic approach to governance cannot promote economic prosperity.

            We may go the way of Venezuela of today, if he refuses to seek advice on how to run a 21st century Nigerian democracy ; not 1984 miltary rule.

            Time to act is now.

          • William Norris

            There is no such thing as price modulation for fuel in the USA. You can tell that to the ignorant.

            China operates a fuel price modulation system and they have been slowly phasing it out.

            Not that it matters WHO is operating it, ANY form of subsidy for consumption in the commercial sector is WRONG and counterproductive in the long term. That just FACT.

    • abuasmau

      Amen.

    • Suleiman

      But he has to start with his sponsors, Tinubu and Odetola who are the biggest benefactors of the Fuel Subsidy. Why hasn’t him started probing the Fuel Subsidy? Criminals parading themselves as saints and deceiving the illiterate Nigerians who claim to be Buhari supporters. So you still Buhari has something to offer this country other than the LIES he is unbundling every day. It would seem this Buhari government has a lie factory from which they are manufacturing all kinds of lies. At the end of four years, Nigeria will be worse than what they met. Mark my words. If it is the Buhari we know very well, there is nothing Nigeria will ever gain from him except his selective probing and jailing of perceived enemies. Nigerians were warned by sane people like us, but you crazy and insane people voted for this tyrant! You are getting what you bargained for!

      • musa aliyu

        That is what we wanted. Leave us to our fate! Why crying more than the bereaved?

        • Daniel

          Is Nigeria your property? I am Itsekiri.

          Who ever opposes this incompetence of a government is branded Igbo.

          Someone must be picking your bills.

      • musa aliyu

        The Tinubu in the oil industry is different from the Tinubu you hate. Go jump in to the ocean

        • William Norris

          Oando Tinubu is the nephew or cousin of the APC Tinubu

          • musa aliyu

            See you,.! In what way would you be held responsible for the actions or inactions of your cousin? When has it become a crime to have one’s cousin rich or dubious? You no get work, abi? Go join any construction company, they were just settled.

    • share Idea

      I agree with that Nigerians should support him to actualise this plan of removing subsidy on petrol. Though him and so many of his supporters doubted the existence of fuel subsidy but reality have now downed on him that here is difference between being a football pundit to actual football player on the pitch. Nigeria we hail thee

      • Daniel

        So we have wasted almost four years on the altar of ethnic politics and retrogressive partisanship.

        Nigeria has no future with these political characters.

        This is common sense.

  • Is BUHARI Boko Haram?

    ———————-#ProsecuteBokoHaramSponsors———————

    Below are 11 Questions Buhari must answer.

    1. Mr Buhari, where is Abubakar Shekau the leader of Islamist terrorist Boko haram who has killed over 25,000 innocent Nigerians and destroyed property worth millions of naira?
    2. Mr Buhari, does it make sense to you to ban First class travel for government officials but pay for your own 16 yr old daughter to fly First class to and from her UK college campus?
    3. Mr Buhari, at your age does it make sense to you to be paying 26,000 Pounds per year for your 16 yr old daughter in a British college when there are over 200 Universities in Nigeria?
    4. Mr Buhari, do you understand the economic implications for Nigeria and UK when you take 26,000 Pounds (N92m) per annum and pay to a UK domiciled school?
    5. Mr Buhari, have you ever aasked yourself what can be done to improve education and research and improve the standard of University education in Nigeria up to UK standard?
    6. Mr Buhari, what is the budget for Education and research in 2016 budget?
    7. Mr Buhari, you boasted about the budget of N200b for roads, but not EDUCATION, certainly not research.
    8. Mr Buhari, why do you go abroad for medical treatment? …and leave Nigerians to die in hospitals you will not budget for because all the monies are budgeted for presidential clinic you will not even attend?
    9. Mr Buhari, there is God oh!. When you die I only pity people who will be behind you on judgment day. They will wait a long time before it will get to their turn.
    10. Finally Mr Buhari, are you or are you not the sponsor of Boko haram?
    11. Why are Islamist terrorists not prosecuted? Why are the dead bodies of Islamists reportedly killed in battle never shown?
    12. Why is there no active move to capture Abubakar Shekau?

    • abuasmau

      Do you want his reply on PT platform? Goodluck!

      • Burning Spear

        On the Nation, Sharia Reporters, Punch, Premium Times of the CIA fame or facebook

    • musa aliyu

      But you asked 12 questions, instead of the 11 you promised to ask @ the beginning of your vituperation. You would have been answered only if you have kept to your promise

  • Rebecca West – Wike

    British Newspaper blasts Buhari over corruption fight. Says he is insincere and his “self acclaimed” integrity a farce. Lists his refusal to completely declare assets, placing of teenage student on First class flights, and expensive college fees for his children abroad and selective corruption prosecution as examples. —————–But Premium Times will never report such stories. But when Lagbaja Jonathan is arrested, rather than place the picture of that individual, Premium Times places the picture of President Goodluck Jonathan in its report and calls the individual ‘Jonathan’ cousin’. The name of the individual is never mentioned in the story. His name simply becomes ” President Jonathan’s Cousin’. This is the depth to which journalism has deteriorated.

    • IZON Redeemer

      The Yorubas would have ganged up with the Faulanis–if the British newspapers had penned their story on Jonathan and Tompolo–That is their Nigeria for you

      • kuli

        Everybody knows the daily mail is junk tabloid fit for wiping our asses.

        • Akatikpo

          Same way Sahara reporters, punch, nation and premium times are.

    • kingbaabu

      Lol. I read the article. Very short but laced with enough innuendo to rile up the right wing nut jobs in the UK or whatever remains of them. Therein they claim the UK is “giving” Nigeria 250mn pounds when everybody knows it was Nigeria’s money to begin with that was looted by, surprise, members of Goodluck Jonathan’s cabinet. Daily mail is right-wing yellow journalism at its worst. Literally nobody takes them seriously. They are not a newspaper.

  • The truth-Buhari na thief-

    Here are the list of the Richest Politicians in Nigeria that operates US banks.

    NAME BANK AMOUNT

    1. Okorocha JP Morgan chase New York $1.4 billion

    2. Kwankwaso A merican express/New York $1.15 billion

    3. Shettima Wells Fargo/ San Francisco $1.1 billion

    4. Nyako Citi group/ New York city $805 million

    5. Ibrahim Citi group/ New York city $798 million

    7. Amaechi US Bancorp/ Minnesota $757 million

    8. Abdulaziz Ally financial/ Detroit $626 million

    9. Oshiomole BB&T/ North Carolina $625 million

    10. Aregbesola Citi group/ new York $513 million

    11. Al-makura State street corporation $510 million

    12. Wamakko Wells Fargo/ San Francisco $476 million

    13. Fashola Citi group/ New York $448 million

    14. Amosun Bank of America $442 million

    15. Ahmed US Bancorp $437 million

    16. Ajimobi Ally financial $422 million

    Obasanjo, Tinubu, Atiku, Sylvia, IBB, Jega, Maina, Oransanye, Lamido, Talba, Alamesiya, Adamu Muazu are in the next batch coming up shortly.

    • sam

      Your list title might be wrong. and Buari is not even on your list. this shows that u are giving us wrong information.

    • Tafidan Dogon Daji

      These are all frames and lies but there is no reason for increase in the pump price.

  • growthengine

    We have a president that chose to experiment with one whole year of lives of over 160 million Nigerians, before becoming convinced of the argument that the price of fuel be deregulated to ensure adequate supply. What a waste of valuable years, productivity and lives.

    • AA

      He is just like a guy who tasted poison just to prove that it kills. What a man!

  • 100%Black

    Something Jonathan saw years ago and they almost killed him because of it….Mscheeew. Nigerians are dunder-heads

    • musa aliyu

      But even if Jonathan was given the nod , what would he have used the proceeds for? To share the money dubiously, of course.

      • AA

        So, the Abuja – Kaduna railway was built with ur father’s money abi? And the 12 universities? And the 140 almajiri schools, and the rice mills, and the 25000kms of roads. It was ur father who gave those monies to the government abi?

        And the 29bn dollars that was left in the reserves? And the money left in the sovereign wealth fund? Was it your father who GEJ shared the money to?

        • musa aliyu

          Abuja -Kaduna fraud, not rail. The cost is three times what will build standard speed train tracks. 12 underfunded universities that were done to cover up the one he built in his otuoke village which lacks potable water. It’s a lie that any 140 almajiri schools were built. That was namadi’s take of the national cake since diezieni steered him off oil money. I think the 25000 km roads are in your mother’s protruding belly but no Nigerian saw your lie-lie roads. There was no $29 billion kobos left in Nigeria’s purse, you bloody liar. Your mentor left an empty treasury, unprecedented!!! Nigeria will soon write his name in the Guinness book of records as the greatest thief of state in the history of mankind.

          • AA

            Ok sir. According to you “There was no 29bn dollars” handed over to Bubu, right?! LOL! Keep deceiving yourself. There’s nothing I can do about it. There was no Aso Rock even – GEJ stole it and took it to Otuoke. The one Bubu is staying now is the new one he brought from Daura. And the planes too that he is now flying to attend children’s birthday parties all over the world are the ones he bought after selling his 150 cows, abi?

            I can’t help you my friend. Enjoy your ignorance, hatred, denialism, and bigotry.

          • William Norris

            The $2.8 billion stolen by The Dullard of Daura when he was Petroleum Minister in 1978 would be worth over $100 billion today.

            This is the same Buhari that told Nigerians that Abacha didn’t steal any money from Nigeria.

            Keep deceiving yourself. Useless almajiri cow like you.

    • James Bond

      Jonathan ran a government tainted by corruption as we are seeing with Diezani and the rest of them. Nobody believed Jonathan because everyone believed his government was corrupt and we are now seeing the glaring evidence of it. So don’t balme Nigerians for wanting to keep a brazenly corrupt government in check. I assure you, no capital projects would have been completely even with the ridiculous inflation of prices so they’d share the money at the end of the charade.

      • Dazmillion

        Thank you for reminding him about the stench of corruption that was oozing from Jonathan that did not allow Nigerians believe a word he was saying at the time about removing subsidy.

        My only beef with Buhari now is that he should have removed the subsidy at the beginning of the year when oil prices were really low.

        • James Bond

          I agree with you to a certain extent. I’m sure the decision not to remove the subsidy was for political reasons. We were suffering some craziness with the dollar then, things were looking glum, maybe, even though he doesn’t celebrate Christmas, he certainly is smart enough to know a hike in petrol price wouldn’t have gone down too well over the festive period. In some way, even though PMB has a reputation for being a clean politician, I think the well publicized cases of Saraki, Metuh, Diezaini etc are laying a platform for Nigerians to accept an increase in petrol price. More pertinent though are the fuel queues but at least people believe this government is sincere.

          • William Norris

            This government has put in place a forex regime that CAUSES CORRUPTION.
            I understand that the way to get access to forex now is through Dangote, who is the favored conduit for CBN dollar allocations.
            ROUND TIPPING forex is now back in vogue.
            Is that not CORRUPTION?

      • William Norris

        WHICH GOVERNMENT IN NIGERIA IS NOT CORRUPT?

        WHAT IS THE CAUSE….the underlying REASON, for corruption? Do you ever stop to ask yourself that?

        The Buhari that is now President has NEVER answered for the $2.8 billion everyone knows he stole when he was Petroleum Minister in the late 1970’s.

        OBJ did an accounting when he was elected in 1999 and found that N45 billion was missing from the PTF but said well, it’s all OK, no need to go making trouble.

        This same Buhari told Nigerians on multiple occasions, most notably in a speech in Kano in 1998, that Abacha never stole any money from Nigeria.

        UK newspapers just revealed that Buhari has at least 2 children in UK universities paying 26,000 pounds EACH per year. And this is a poor ex-general of the Nigerian Army. How much is his pension?

        Did you follow the El Rufai land case? Where he was charged to court because he “corruptly” allocated PRIME FCT LAND to his concubines, wives and relatives? Everything he did was LEGAL, within the law.

        So what is corruption if the Government can just give out land for free to anyone it chooses?

        The President can award crude oil blocks to anyone he chooses for free !!! That is how Danjuma, Alhaji Indimi and Alakija got their petro-billions while the people of Niger Delta wallow in poverty.

        SO WHAT IS CORRUPTION EXACTLY IN NIGERIA?

        • James Bond

          Well according to Jonathan “Stealing is not corruption”. But I think you should give you definition instead of writing in block capitals. If Buhari has a case to answer, he will eventually but let the ones that can be convicted be tried and convicted.

          • William Norris

            Yes and according to The Dullard, the Swiss government is only returning moneys removed from Nigeria under the Abacha regime, the funds were not stolen !!!

            MY POINT is that the STRUCTURE makes “corruption” inevitable.
            The CAUSE of corruption is government ownership of resources, subsidies and price controls.

            The LAWS that enable corruption are the Land Use Act, Petroleum Act and Solid Minerals Act and any other laws that give government power to OWN RESOURCES and FIX PRICES.

            Jonathan tried to eliminate one such source of corruption by DEREGULATING the fuel market and THE NIGERIAN PEOPLE opposed him.

            So have all the above in mind while accusing ANYONE of corruption.

          • James Bond

            I have that all in mind. Buhari is no saint but I don’t think he can ever allow the rot that occurred under PDP to happen again. Its the lesser of two evils. We can barely choose our leaders or we are intimidated or even killed. For once, the opposition won an election showing we are starting to mature as a democracy but many still want us to be in the wild wild west.

            Buhari can’t fight everyone at once as that would be counter-productive but convict those who can be convicted and get some sanity back into the system. If PMB stole and the country, 20-30 years from now benefits from the sanity this anti-corruption drive brings, who is to say that PMB won’t be probed even posthumously? I think you should have feasibility in mind as Rome wasn’t built in a day.

          • William Norris

            There can NEVER be sanity in a system where GOVERNMENT is the SOLE OWNER of all LAND & RESOURCES and also SETS PRICES.
            That structure is the very BASIS of whatever you call CORRUPTION.
            Buhari and the Fulani PREFER that economic system because they are a FEUDAL PEOPLE, feudalism operates on control of resources by a sovereign or government which then ALLOCATES it according to HOW the government perceives your need or entitlement.
            That is HOW Danjuma and co got their crude oil blocks, that is HOW Dangote got to be who he is….and it’s NOT LIMITED to the Fulani alone, but they are the MOST DEDICATED defenders of this system.

      • 100%Black

        Which “glaring evidence”???
        Oh, u mean the evidence on pages of the newspapers anytime they catch the APC government lying thought it’s teeth.
        All the dollars in soak away, under bed, under bridge, in my pant, in sanusi’s danshiki that we can’t see
        Yet they can’t even convict ONE person!
        The same money that the finance minister on Channels TV said they don’t have an exact figure of any recovered funds?

        • James Bond

          We’ll see at the end of the day.

      • 100%Black

        That same money, Jonathan used in building rails which we can see, zungeru power plant, which fashola is swearing that it only remains some minor portions and this government will finish, almajiri schools in the north, multiple new federal universities which we can see.
        Make una fear GOD naa!!

        • James Bond

          At what cost? I am sure most of those projects were at an inflated cost to the detriment of the nation so it negates much of what he achieved. Jonathan and PDP are old news and the country wants to move forward. Convicting known criminals is a good way of bringing sanity to the system and holding public officers accountable.

          • 100%Black

            Evidence! Evidence…
            No evidence, yet u bandy about words like ” i’m sure they were inflated”
            For your information gentleman, the costs for the rail , zungeru and most other capital projects were borne by the chinese at 80%….Nigeria only provided 20 to 25% of the costs

          • AA

            Oh! At first u said he didn’t do anything, now u ask at what cost? lol! Your confusion is only paralleled by the height of your hypocrisy and bigotry.

            #Kontinu!

      • Es3

        Jonathan won election and was sworn in May 2011, he attempted to deregulate the downstream of the petroleum sector in January 2012, when and where was that corruption you are referring to here just months after Nigerians voted massively for him???!

        • James Bond

          Did he not take over Yar’Adua’s tenure in 2009? The man had six years in office. Get your facts straight. So because, we gullible Nigerians voted for Jonathan, his government is suddenly exonerated from any wrongdoing? Please don’t be ridiculous. PDP continuation of share the money.

          • no_be_lie

            some of you guys have sold ur souls to buhari,no matter how poorly he’s handling the economy, you will always support just to ridicule Jonathan in ur small mind,keep enjoying ur suffering with ur smiles on

          • hope

            You are the one who need to get your facts straight here, Jonathan took over as acting president in February 2010 and president after the death the then president on may 5th 2010.

          • James Bond

            Oh well. Still 5 years of not achieving a lot and condoning impunity and corruption. Thank God he’s gone.

          • AA

            He achieved FAR more than your dullard messiah will ever achieve in 200 years. Your bigotry and hatred for GEJ will not affect the fact that his govt made Nigeria a net exporter of rice, a net exporter of cement, a relatively stable forex environment, record investments in roads and education and the most democratic in our history.

            I don’t expect you to agree – u are obviously too blinded by bias to see straight.

            You were the ones who said fuel out to be less than 97 naira when oil sold for 60 dollars, now u are ready to pay 100 naira while oil is selling for 40 dollars. Your confusion is only matched by your hypocrisy.

          • Es3

            Do you actually understand my response post or you just had to respond???

            How can someone post to claim that it was due to Jonathan’s corruption that Nigerians did not support his attempt at ending fuel subsidy in January 2012, at a time when Jonathan’s government was just about to start after he won a popularity contest (2011 elections) massively???!

            Please always make effort to understand the underlying information and point before posting responses. Thank you.

        • AA

          The whole truth of this GEJ vs Buhari debate is unravelling quite nicely now.

          Those who are so strong against Jonathan and who simultaneously love Buhari are either (1) ethnic/religious/regional BIGOTS and HATERS or (2) ignoramuses or (3) both!

          It is 1966 playing all-over again – people being misguided by bigotry rather than reason. The so-called corruption that happened under GEJ is not more than the one that happened under OBJ and the one happening right now under Bubu. So, how can u condemn the one and absolve the other if u claim to be reasoning well? This is not meant as an insult, it is just to make it clear that people are now driven by their BIASES and BIGOTRY rather than reason.

          • Es3

            Please remind them again and again!

            So blinded by pure hatred, fed by APC’s evil propaganda and completely lacking the ability to use their God-given brain for themselves…even for once!!!

      • taiwo

        Very correct. They would have stolen all the monies realised from the deregulation if Nigerians had allowed them then. We would have allowed GEJ if we believed he was sincere in his dealings with us

  • Filipi

    Premium Times Editor,

    On money matters General T.Y Danjuma is the litmus test of President BUHARI’s
    much-vaunted anti-corruption war. This Panama moneylaundering case will
    reveal the true character of BUHARI. The media must stay focused on this
    General Danjuma’s presumptive money-laundering in extent he was not
    allowed by military service law as a soldier to engage in private business;
    or for that matter transfer foreign currencies out in his own name as
    beneficial owner in Panama and at HSBC, under the secret codes
    of private banking. Pump price increases inside Nigeria solely
    as a result of Panama moneylaundering which deprives
    the public treasury of necessary tax payments.

    • marc umeh

      Hmmmmmm—– Buhari to go after Danjuma?
      This one pass me !!!!

    • AA

      It will NEVER happen. The corrupt don’t fight corruption – they fight their enemies.

      What has happened to OBJ, Amaechi and Tinubu and Buhari himself? Forget it, my friend.

  • Curseless

    Any reasonable Nigerian will know that deregulation is the way to go otherwise the middleman will continue to rip us off. Just like telecommunication industry was deregulated the petroleum industry needs to follow suit and let the people decide whom they want to patronize. The citizens also need to put down the gauntlet and accept the reality that deregulation is the way to go.

  • bigbang

    Premium times should be clear. It is price deregulation, not full deregulation.

    • CovertNigerian

      What’s the difference?

  • Bambam

    I’m not in support of this if it is true..petrol and gas is the life of any economy..you don’t leave such to so called market forces..especially in a greedy and corrupt space like Nigeria..fixing refineries and urging more local refining is the way to go..or correct pricing template and modulations if you still importing…Nigeria is due for a bloody revolution..Buhari is just about to start one with this clueless policy!!!

    • marc umeh

      Keep dreaming Buddy. There will be no revolution in nigeria no matter how difficult things get. Who will bail the cat ?

      • Bambam

        Who would bell the cat you mean?..not bail..answer is nobody..revolution doesn’t always need a leader to start..it starts spontaneously when the people are fed up..and this clueless policy is last straw to break the camels back..trust me!!

        • marc umeh

          You caught me there. But that does not negate the fact that revolution is hard to forsee in nigeria . Are you talking about the Delta revolution or the Biafran revolution or the idlamic one.
          Time will tell.

          • Bambam

            Same way the idiots who called themselves your leaders..several useless writers and many Nigerians were made to believe..there can never be suicide bombers in Nigeria..that an average Nigerian enjoys life so much he can blow himself up..now we know otherwise..same way no one ever thought about the Arab spring..but it happened..same way Blaise Compaore of Burkina Faso never thought of leaving power..but the people drove him out..Nigeria is over-ripe for a bloody revolution..Buhari should not push the people to it!!

          • AA

            U are so right here! I was at an international conference in 2009 or so where one of the so-called leaders said with glee that no Nigerian will ever blow himself up. The rest, as the cliche goes, is history. But indeed, if Buhari does push Nigeria into a revolution, he would have become useful. Because right now, he is nothing but a nuisance.

          • Bambam

            I pray he wakes up from his slumber and just leave the price of petrol alone for now..because feelers are get is that Nigerians are nit smiling at all..they feel defrauded by the change mantra they voted for..but just hoping it truly works out well..otherwise one more push and they would snap!!

          • William Norris

            It’s more accurate to say no Southerner will blow themselves up.

            Look at the Niger Delta militants, the ones that fought in around 2007 are now all supporting the Fed Govt because they were paid.

            The average Western influenced Black African will do anything to stay alive. Black Africans sold their own people into slavery, Black Africans are animals !!!

            Give it a few months of bombing, a few million dollars spread around and the Ijaw people will deliver Tompolo to The Dullard as a sacrifice for peace so they can go back to quaffing ogogoro and impregnating teenage girls.

            Where is Asari Dokubo today after all the noise he made about the elections? If Jonathan doesn’t will he will destroy Nigeria LOL !!!

  • bigbang

    I don’t think this will solve the problem. Some one should explain to us how deregulating the price will solve the supply problem. How will there be more forex available to marketers to import goods. The only solution to our problems is to increase local refining capacity. We will not need forex to import oil. We can ban importation of oil. We will not have to deal with landing cost and etc. We should also eliminate transportation gridlocks. There will be no need to move tankers of oil from Lagos to Kano or Abuja, adding an additional cost to price of crude. That is the remedy to our problems.

    • William Norris

      Once the ENTIRE ENERGY MARKET is deregulated, investors will NATURALLY find ways to enter the refinery business.

      There are hundreds of “ILLEGAL” refineries in the swamps of the Niger Delta that don’t need one dollar of forex to set up and run.

      And it doesn’t matter whether fuel is imported or obtained locally, as long as it will be AVAILABLE for the public to buy and use as they see fit. The obsession with local sourcing is actually ridiculous. If local refining is PROFITABLE, investors will invest in the business. Simple.

      Having said that, the government still needs to FLOAT THE NAIRA, deregulate the price and let the market work.

      • marc umeh

        We tried floating the naira before and it didn’t work !! With the plummeting oil price and no other export to talk of , it will be disastrous to float the naira. It can’t float. It will simply sink.
        If we deregulate the oil market , local production will be spurred , as you correctly observed . Profit motive always triumphs over govt regulation.

        • William Norris

          NIGERIA HAS NEVER…..N E V E R ……floated the naira.
          When?
          What Nigeria has always done is to DEVALUE the naira to an official fixed price.
          Things were better under the PDP because the government policy was to allow the naira to FLOAT WITHIN A LIMITED BAND, with the band being moved from time to time.
          NIGERIA HAS NEVER FLOATED THE NAIRA, the governments of Nigeria have ALWAYS had a policy of keeping the naira STRONG & OVERVALUED.
          Strong currency almost always ENCOURAGES CONSUMPTION OF IMPORTS because strong currency makes imports CHEAPER THAN THEY SHOULD BE.
          And that is why Nigeria has not developed a competitive and thriving industrial base for exports.
          Simple.
          And it’s OK, let The Dullard fix the currency at 1 naira to 1 dollar. Why not? That should make for a prosperous economy.
          Just like he’s caving on fuel subsidy despite all the rhetoric, sooner or later, Nigeria will DEVALUE THE NAIRA; will be better than the current CORRUPT valuation, but the REAL LONG TERM SOLUTION is to float.
          Take it or leave it, time will tell.

          • marc umeh

            I still don’t get it. If floating the currency is so beneficial to the economy I wonder why this is not a common practice among nations.
            Infact one of the biggest complaint against CHINA is their tactics of delibrate devaluation of their currency to gain economic advantage over their trading partners. So far it had worked magnificiently. Just ask Donald Trump.
            As for your Jonathan example i find that untenable. A govt that left an empty treasury,and massive corruption when the price oil was astronomical should be nobody’s example of good govt.

          • William Norris

            But you said it right there – CHINA DEVALUES their currency. That practice is one of the FOUNDATIONS of industrial exports in that country. It ALSO makes it cheaper for FOREIGN INVESTORS to come into China and build FACTORIES…..a lot of things made in China are OWNED AND PRODUCED by US & European companies.

            Floating the naira TODAY will automatically result in depreciation to the black market value of 320, that is to say, the naira will be devalued.

            LEAVING ASIDE FLOATING THE NAIRA, it’s common sense that at least it should be DEVALUED to ENCOURAGE local production like China has done. So why is The DoD….Dullard of Daura….insisting on keeping the naira strong?

            Jonathan DID NOT leave an empty treasury. At about Nov or Dec 2015, the present government paid about $2.5 billion in fuel subsidy payments.

            Sometime in mid 2015, the NLNG paid something like $2.5 billion in dividends to the Fed Govt.

            Even if he government had less money than expected, the blame LIES SOLELY WITH THE NIGERIAN PEOPLE who resisted the withdrawal of fuel subsidies in Jan 2012.

            Between Jan 2012 and Dec 2015, the Nigerian Federation paid $25 billion in fuel subsidies. When OIL PRICES ARE HIGH, THE COST OF FUEL SUBSIDY RISES, which is what is forcing the PRESENT GOVERNMENT to stop subsidies.

            That’s where your money went under Jonathan. It went to pay subsidy.

            JUST THE FACTS.

          • AA

            Get over your obsession with the lies of Lai Mohammed and Buhari. Jonathan left over 30bn dollars in reserves and SWF. Stop this fiction about “massive corruption”, nobody believes them any longer. If u want to talk about corruption talk about a budget padded by up to I trn naira that has been passed as is.

          • Sunny Omoragbon

            I was enjoying and completely taken in by your threads, which in any case appeared well thought out and incisive, until you started calling somebody a dullard. Can’t we just make our points without insulting others? The discourse and exchange of brilliant ideas could just be what the country needs to be great again. You never know who is reading your submissions! Have a lovely day.

          • William Norris

            Thanks but I don’t care who is reading.

            I understand the typical Nigerian mode of ALWAYS being alert for an opportunity to make money or a name. Always afraid of the future and always hoping for someone that will help them. Ready to eat shit as long as there’s some money to be had. That’s behavior that flows from a profound sense of personal inadequacy. Which comes from having lived in poverty – not just monteary but intellectual and emotional poverty.

            So in the total meaning of the word, I’m richer than 99.999999% of Nigerians. That’s why I can AFFORD to call Buhari what he is…..The Dullard.

            Soyinka wrote worse about Buhari in the book ” Open Sore of A Continent ” You should get a copy and read it.

            There’s nothing any Buhari or any Nigerian can do for me. What most Nigerians need to do is learn and apply what I’m telling them before it’s too late and I’m not the only one putting the truth down here for all to read and digest. I don’t need your money or recognition, the advise is free.

            Thanks.

        • Rumournaire

          We have never floated the Naira.
          India floated the Rupee around 1992. Initially, the value crashed dramatically, but within a few months it reversed and became strong.

          • marc umeh

            India has products to sell overseas. They export evrything from agric to vehicles. Even we Nigerians rush over there for medical treatment paying in dollar.
            Our situation is unique my friend.

      • bigbang

        I don’t think deregulation will solve anything. It will just make some people richer. The same people that are sabotaging the pipelines, diverting tankers and etc. A group will just collude with each other to make sure the prices remain high.

        • William Norris

          Deregulation & privatization solved or substantially reduced the problems in the following sectors:

          1. Cement

          2. Banking

          3. Telecoms

          4. Fertilizers and Petrochemicals.

          5. Airlines (even though airPORTS are still regulated)

          6. Broadcasting (radio & tv) and media in general.

          Deregulation has made it possible that there’s hardly ever any more scarcity of diesel and cooking gas.

          Only the REGULATED fuels – petrol & kerosene – still have scarcity, corruption and constant controversy.

          Those are the facts. They’re INDISPUTABLE.

          • bigbang

            Power

          • William Norris

            What about power?

          • bigbang

            Has the power sector improved after privatization and deregulation?

            I am all for privatization and deregulation. But we need the NASS to pass anti trust laws and we need better implementation of the existing laws. We also have to encourage investors that have both the financial and technical know out to be successful.

          • William Norris

            All the sectors that I listed improved after 10 to 15 years of deregulation and/or privatization. There’s no reason the electricity sector will be different. In fact the TECHNOLOGICAL OBSTACLES to a deregulated and privatized electricity sector are much higher than for ANY OTHER SECTOR.
            I’m sure you know that.

            We don’t need better implementation of existing laws. The existing LAWS are bad and the primary evils of the Nigerian economy are the Land Use Act, Petroleum Act and Solid Minerals Act. They need to be ABOLISHED.

            Anti monopoly, anti trust, the usual excuses for dependency and envy. These were the same things said about MTN and Dangote. I argued those points on various message boards back in 2003 to 2005 to 2012, just like I’m engaged with you now. Those concerns are EXAGGERATED, the NEEDS of the poor and unemployed in Nigeria right now trumps any sort of anti-trust imperative.

          • Rumournaire

            You are spot-on.
            Actually, regulation is the vehicle for corruption and patronage: Allow only a few people to play, fix the parameters, and make sure only the blue-eyed is allowed in!

      • Osato Osasere

        You have been reading too much foreign books and western economic philosophies that they, westerners, never applied in the course of their process of industrialisation.

        • William Norris

          So how did Nigeria go from cement scarcity to self sufficiency in about a decade?

          The West didn’t invent economic reality.

        • AA

          Where are your options? Capital controls? For your information, the warped and fossilized ideas that Buhari is applying now have bee confirmed to FAIL in country after country after country. He tried them in Nigeria in the early 80s and where did they land us? Queues to buy milk! China became wise and dumped the command economy in 1978. What is the result today?

          • Osato Osasere

            The Chinese are successful because they regulate their economy and have a sustained policy of industrialization through copying and couterfiting with deliberate disregard to global patent rules set by the west. It patriotism vis-a-vis genuine Afrocentrism and Nationalism that is missing in the whole of sub-Sharan Africa. 80% of rich Africans today are not wealthy because they are industrious but because they stole the wealth of the nation’s . These thieves are not even sane enough to build one manufacturing company to pilot the process of industrialisation. Is the textile industry , tire industries, steel industry etc, regulated? There is no economy in the world that is wholly deregulated or free. There is always some forms of regulation. Saudi Arabia, Kuwait, United Arab Emirates, Norway etc all have state control over their oil industry, but they don’t queue up for petrol. There are refineries everywhere for refining products cost effectively for domestic consumption and for the powering of the domestic economy. Nigeria,a country of about 180 million people ,have three refinery. Is that not insanity? If every state in Nigeria has a refinery would there be scarcity? Uzbekistan do not export crude oil until it has refine enough for its own people. Nigeria can only be industrialised or developed by Nigerians and not by foreigners. As great Fela Anikulakpokuti posited, “na blackman go fight for blackman”.

          • AA

            You are missing the point my bro/sis. First, the relative success of the Chinese is because they are PRODUCTIVE! In 1978, they realised that command economies do now work in the modern world and they DUMPED it. It is what has been dumped over 30 years ago that PaBu is trying to do in 2016! It is a huge embarrassment that there are still people trying to support what has failed so completely – go and ask Cuba, Venezuela, and the former Soviet Bloc. Apart from history, we can see before our very eyes that these policies are FAILING like sand castles in a storm – inflation is skyrocketing, jobs are being lost, corruption in the currency market has hit the skies, yet people support these crazy policies! Na wa o.

          • Osato Osasere

            This is why I say must of us read too much into the foreign books and philosophies without applying common sense and reading in between the lines analytically. Nigeria has never been a regulated economy, If any thing the Nigeria economy has been a mixed economic system that has for ages been run like an unregulated and informal economy by series of incompetent rulers , thugs and touts. I would like you to go study how American Southern States were move from agrarian economy to industrialised economy after the American Civil War or the Japanese industrialization process after they lost a hot war with the west. If I may ask why did the Chinese waited so long to join the World Trade Organisation(WTO) and never joined GATT? And why did they operate a Closed economy until they started opening it up in the 80s to dominate manufacturing to the surprise of the world? Finally, name one invention that is of Chinese origin? And why do the Chinese government never cooperate with Western countries in the prosecution of Chinese involved in copyright theft of western technologies? Why is the Chinese government directly or inderectly involved in spying on the West for the theft of technologies. However, in Nigeria we are running around to arrest little kids that are trying to be creative at computer village. The most regulated economy today of any left leaning economy is probably the Chinese economy. Norway, Sweden, Switzerland, Germany, South Korea ,etc are all Social Democracies and not brut Capitalist Systems; various key sectors of the economy essential to the suvival of the state and economy are regulated. Even in the US, a self professed Capitalist economy, a lot of the key aspects of the economy is regulated. Why do you think America has oil reserves and release oil into the global market when price goes up too high? What is missing in Nigeria is lack of regulation rather than regulation. There is no sustained plan by Nigerian leaders to face the realisation that the world is like a billiard board and that we are in a competition with order nation states and that what should be paramount is our national interest. What we are doing today is the nonsensical paradox of going to our competitors to come develop our economy. Like the Americans say, it ain’t gonna happen. In the 21st century, I still hear our leaders talk about diversification of the Nigerian economy by taking us back to subsistence agrarian economy. Is that not absurd? When we travel to Western countries and see the prices of petrol we covert it to Naira, what we don’t know is that it is high not because of lack of subsidies, but because a lot of taxes are built into petrol prices to take people off cars and put them in public transport, the public transport which we don’t have in Nigeria. KNOW IT TODAY, WHAT IS MISSING IN NIGERIAN POLITY IS SERIOUS LACK OF PATRIOTISM AND NATIONALISM. WE NEED TO CREATE A NEW SET OF NIGERIANS WHO PUT NIGERIA FIRST AND ABOVE EVERY OTHER THING, WHO ARE SMART ENOUGH TO FEEL EMPATHY, WHO SEES ANOTHER NIGERIAN BY THE WAY SIDE BEGGING OR STARVING AS HIMSELF OR HERSELF, SO THAT OUR BELOVED NIGERIA CAN FINALLY BE RULED BY NIGERIANS NOT THE SELF SERVING NIGERIANS THAT WE HAVE TODAY!!!!!!! Long live Nigeria and may God Bless us with patriotic leaders.

  • smart G

    I hope tax and VAT will reduce. How can the profit of small business be wiped out by cost of fuel and increased electricity tariff and you still expect more tax from them.
    Change indeed.

    • William Norris

      Actually no. There should be higher taxes and VAT.

      As it is now Nigerians don’t pay much of anything for the cost of running government. The Niger Delta has been supplying 85 to 90% of State, Local and Federal Revenue for over 35 years and it’s time OTHER Nigerians paid SOMETHING.

      Federal hospitals, universities, railways, airports, roads, police and army, NAFDAC, NTA and FRCN broadcasting services, government owned Steel industry…..all these things have to be paid for, so that Nigerians can continue to use them.

      It’s UNFAIR that the whole burden should be on the Niger Delta.

  • Gugurus Ekpa

    Best decision of the Buhari administration

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