tag:blogger.com,1999:blog-8686769.post8972838970581300908..comments2015-11-21T23:46:03.614+01:00Comments on naijablog: The Fuel Subsidy Removal Protests for DummiesJeremynoreply@blogger.comBlogger56125tag:blogger.com,1999:blog-8686769.post-54257223259817745012012-01-16T06:31:58.947+01:002012-01-16T06:31:58.947+01:00FANTASTIC PIECE even though i can denote some of y...FANTASTIC PIECE even though i can denote some of your anti-religion sentiments. You are spot on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-69219734706653685572012-01-14T04:52:45.180+01:002012-01-14T04:52:45.180+01:00@ poster, lets hear your opinions on what Annonymo...@ poster, lets hear your opinions on what Annonymous had been commenting. Please respond cos he is surely speaking the minds of Nigerians like me who are indifferent to this strike action becos the oil subsidy removal is for our good as a country.Nathannoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-58632749904484927522012-01-11T17:18:10.345+01:002012-01-11T17:18:10.345+01:00thanx who ever wrote dis, God will bless u for thi...thanx who ever wrote dis, God will bless u for this write up. it was candid and I especillay loved the part where the christians and muslims looked out for each other, this is d way we should live inmsteae of allowing our leaders to use religion as a disuniting factor in twearing this country apart while they loot us blind.PEACE AND ALUTA CONTINUAblackyshttp://www.blogger.com/profile/05569026898067637000noreply@blogger.comtag:blogger.com,1999:blog-8686769.post-57706498370940518372012-01-11T15:28:19.619+01:002012-01-11T15:28:19.619+01:00Just thinking: when the UNEP report on Ogoni came ...Just thinking: when the UNEP report on Ogoni came out, how many labour executives as much as commented or protested? In the heart of the Niger Delta struggle where was Bakare,Buhari,El-Rufai(who rendered many residents of Abuja homeless), and all the self styled activists? Are they not aware that in Riverine communities where oil is produced, fuel is being sold for about 300naira per litre to boat drivers over the years? Who has commented on the Bonga oil spills to date? Everyone is interested in sharing the proceeds from a product that has rendered many homeless, destroyed farming and fishing, impoverished the host communities, led to communal wars etc. As long as they buy at 65/ltr the N/Delta can burn, who cares. This is not a National issue, its a Niger Delta issue. Those outside the region must ask our opinion.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-60927584194394958642012-01-11T14:37:13.017+01:002012-01-11T14:37:13.017+01:00Well Said. http://kemmiiii.com/2012/01/11/dear-gej...Well Said.<br />http://kemmiiii.com/2012/01/11/dear-gej/kemmiiiihttp://kemmiiii.comnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-62154939685516411092012-01-11T13:10:40.547+01:002012-01-11T13:10:40.547+01:00Let those in the Northern parts of Nigeria protest...Let those in the Northern parts of Nigeria protest over the loss of groundnut pyramids, tomatoe and rice production revenues.<br />Let those in the West riot over the loss of cocoa revenues.<br />Let those who produce Oil and suffer the pain of environmental degradation speak louder on these issues. The riots are very minimal in the south east and south south for obvious reasons.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-91576699631101301552012-01-11T13:06:14.629+01:002012-01-11T13:06:14.629+01:00Congratulations to all failed politicians! This is...Congratulations to all failed politicians! This is an opportunity to enjoy your 15munites of fame. I can see failed politicians and previously obscure individuals are seizing the moment. Unfortunately, when all settles, we know who you are: losers! <br />We voted for Jonathan, we must give him the benefit of at least 2 years in charge as an elected president. <br />Its amazing how self centred people can be. Who went on strike to protest the oil spills in the Niger Delta? Who protested the high cost of petroleum products in the Riverine communities all these years? Who cares about the thousands in the N/Delta that have lost their lives and livelihood to oil barons in the past? <br />The true solution is 100% resource control. Let Bakare,Buhari, and Jeremy encourage local resource generation and stop analysing how the resources of other states should be shared.<br />Shame on you .<br /> All these years fishermen,farmers and families in the N/Delta have been sacrificing for the entire nation. Today certain individuals are manipulating truth to avoid sacrifice. <br />Let&#39;s thinks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-16796225053667489342012-01-11T12:43:09.310+01:002012-01-11T12:43:09.310+01:00This is a Master Piece, well researched, written a...This is a Master Piece, well researched, written and very educative!Kakanoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-91840644220312293862012-01-11T12:36:59.784+01:002012-01-11T12:36:59.784+01:00Congratulations to all failed politicians! This is...Congratulations to all failed politicians! This is an opportunity to enjoy your 15munites of fame. I can see failed politicians and previously obscure individuals are seizing the moment. Unfortunately, when all settles, we know who you are: losers! <br />We voted for Jonathan, we must give him the benefit of at least 2 years in charge as an elected president. <br />Its amazing how self centred people can be. Who went on strike to protest the oil spills in the Niger Delta? Who protested the high cost of petroleum products in the Riverine communities all these years? Who cares about the thousands in the N/Delta that have lost their lives to oil barons in the past? <br />The true solution is 100% resource control. Let Bakare,Buhari, and Jeremy encourage local resource generation and stop analysing how the resources of other states should be shared.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-59547594257932725082012-01-11T12:26:11.035+01:002012-01-11T12:26:11.035+01:00Thanks J. You captured the essence of these strugg...Thanks J.<br />You captured the essence of these struggles. Lets speak the hearts of the real Nigerias.<br />1. A few months ago, Remi Babaloa said NNPC was broke, this government denied it and pushed him out. Do Nigerians remember this episode?<br />2. Nigerians are not against ‘subsidy removal’. The governenment is not even sure of how much the subsidy is and what percentage goes to corruption.<br />3. If subsidy removal is just government not paying, then my illiterate mother could be Minister of Finance. <br />4. Government says there is a cabal and they wont pay them anymore so ordinary Nigerians should pay the cabal. So this is just an abdication of responsibility in so many ways. <br />5. Government created the cabal that consist of their cronies and friends who import the fuel and also governmnet employees at NNPC! <br />6. There are so many fallacies:<br />a. SURE is an abstract of the 2012 budget and can not be regarded as palliatives. What is the role of the so called committtee? Supervising line Ministries to do their job?<br />b. Reducing the BASIC salary of political appointees by 25% amount to nothing. The basic salary of most political appointees is just about 20% of their total emoluments<br />c. This is not courage. It is cowardice to run from fighting the strong (cabal) and trampling on the poor ordinary Nigerians.<br />7. Nigerian want to talk about oil sector deregulation and fuel subsidy as a component part of that, not fuel subsidy as a stand alone subject. Fuel subsidy removal does not equate to sector deregulation. Let this government shows us the blue print of the oil sector deregulation.<br />8. Why and how has the so called fuel subsidy increased from under 3 billion to 1.3 Trillion in one year under this Jonathan’s government?<br />9. The size of the subsidy is not the problem. It is just the symptom of the Nigerian problem. You can’t remove the symptom of any disease without dealing with the disease.Sam Okedinoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-8700222022632130372012-01-11T11:32:35.119+01:002012-01-11T11:32:35.119+01:00In this period of privatization and deregulation, ...In this period of privatization and deregulation, Nigeria has seen<br />remarkable GDP growth. Some of that, of course, is due to rising oil<br />prices. But all that growth has not automatically translated into<br />Human Development. Growth has, however, resulted in Telecoms, Banking,<br />Retail and Construction expanding and demanding more fossil fuel for<br />self-generation of electricity. Herein lies the contradiction in<br />prescribing the standard medication of deregulation and privatization,<br />beginning with Telecoms, without first attempting a sound diagnosis of<br />the particulars of the Nigerian condition.<br /><br />It fascinates me to no end when recommendations are made for the<br />privatization of Nigeria’s public institutions where the assets and<br />revenues have, for all practical purposes, been privatized through<br />Corruption. There usually is no sign of an awareness that what is<br />being suggested is a second order action which obeys a different set<br />of rules from the privatization of ordinary, inefficient public<br />agencies. A case for deregulation and privatization can be made but I<br />doubt those should be the priority in Nigeria. Even so, the order in<br />which the present strategy has been executed is clearly unsustainable.<br />Furthermore, a sound economic case for the removal of fuel subsidy<br />still hasn’t been made for Nigeria.<br /><br />Brazil which also has to grapple with the challenges posed by a<br />population of over 100million, just like Nigeria, learned the hard way<br />under Henrique Cardoso that deregulation and privatization are not<br />magic cures. By the way, Brazil imports about 60% of the gasoline it<br />consumes locally, similar to Nigeria, but Brazil plans to build 5<br />refineries, through Petrobras, solely or in joint ventures. The<br />Nigeria Govt hinges its own hopes for the development of new<br />refineries on private investment.<br /><br />There’s already a marked excess capacity for refining globally. Demand<br />in the first world for petroleum products is already showing the<br />impacts of recessions, ageing populations, environment friendly<br />legislation and sentiments, the improvements in the fuel efficiency of<br />autos and the exploration of alternative energy. Oil industry players<br />are declaring losses on their refining businesses, closing down<br />refineries, selling off their refining businesses all due to the<br />dwindling margins. The UK, Total, Shell, the list goes on, and even<br />the most cursory research will confirm this.<br /><br />China, Brazil, the Middle Eastern oil exporters are the ones buying<br />and building refineries and they are all doing it with heavy<br />government investment. The Jonathan Govt. which has argued that the<br />subsidy is the reason why there have been no private investment in new<br />Nigerian refineries seems to have missed all this.<br /><br />Considering that other oil producing countries that have withdrawn<br />their fuel subsidies used to subsidize their citizens’ consumption of<br />petroleum products to prices below the cost of refining locally and<br />that Nigeria is subsidizing for the cost of NOT refining, one wonders<br />what basis for comparison even exists. If the 4 refineries worked the<br />subsidy would not even be necessary. And one may want to consider the<br />substantial value of lost GDP that the failure of Govt to operate the<br />Nigerian refineries optimally has been costing the people of Nigeria.<br />What Sanusi interprets as an arbitrage opportunity that fosters<br />smuggling and which he says highlights the difference between Nigeria<br />and Saudi Arabia, Saudi being surrounded by other oil exporters, is<br />actually the existence of a legal, ready market for petroleum products<br />refined locally in Nigeria. Saudi ought to be jealous.A.Kuffournoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-57079055898986588462012-01-11T11:29:11.131+01:002012-01-11T11:29:11.131+01:00According to President Jonathan, in 2010 $13billio...According to President Jonathan, in 2010 $13billion was spent to<br />purchase fuel for self-generation of electricity in Nigeria. That’s<br />about 6.7% of the 2010 GDP. Not only has the demand for fuel for<br />self-generation of electricity, since then, grown but the subsidy<br />removal has now doubled all those costs. What would be the impact of<br />that on inflation and ultimately on the GDP as the costs of<br />self-generation of electricity goes over 10%? Everyone seems to be<br />taking subsidy removal as an economically sound recommendation without<br />any attempt to assess the particulars.<br /><br />The Governor of the Central Bank of Nigeria displays acute symptoms of<br />tunnel vision in basing his assessment of the impact of the subsidy<br />removal on the insignificant weight ascribed to fuel for<br />transportation in the Consumer Price Index. Sanusi seems incapable of<br />seeing both the forest and the trees. As far back as October 2011,<br />about the time the Jonathan govt. began to suggest that it would<br />remove the subsidy, I looked at possible scenarios after a removal of<br />the subsidy, exploring the possible impacts on the individuals earning<br />the proposed, new minimum wage (of course, over 90% of the working age<br />population won’t be so fortunate to as to earn even that measly sum of<br />about $110).I used the CPI weights for my projections, and it didn’t<br />look pretty then. Needless to say, subsequent events have more than<br />confirmed my calculations. This has given me cause to wonder what<br />those making policy in Nigeria with the better data that they must<br />have do to earn their keep.<br /><br />Implementing that new minimum wage was one of the triggers for the<br />removal of the fuel subsidy.And, I wonder how the economic hit woman<br />who has nothing to recommend her beyond being a career technocrat and<br />‘world renowned Economist’ proposes to solve the problems and fiscal<br />strains Government would encounter on the expenditure side when actual<br />prices are higher than budget projections. Okonjo-Iweala should<br />already be familiar with such fiscal strains. The removal of the fuel<br />subsidy will do worse to the economy than the benchmark oil price<br />‘peg’ that undergirded the 2005 &amp; 2006 budgets and which caused so<br />much deficit financing. It got to a point in 2006 that a supplementary<br />budget was sent to the National Assembly and the Executive would have<br />continued to press for the approval of that supplementary budget if<br />the IMF hadn&#39;t prevailed on them to withdraw it at the time.<br /><br />It isn’t only the people that would experience hardships due to<br />inflation; Government would, too, in translating its capital vote in<br />to projects and in working to hit its developmental targets, and since<br />it&#39;s the self same, long suffering people who were meant to benefit<br />from those projects and safety nets, that would be &#39;double wahala for<br />deadi-bodi.&#39; The government seems oblivious to the fact that it is<br />sawing off the very branch on which it is currently sitting by<br />removing the fuel subsidy. I guess I must sound ridiculous myself for<br />pretending the Govt. has any intention to serve the people in any<br />meaningful way, quite sad but true.<br /><br />The IMF has been leaning on Nigeria to deregulate and privatize for<br />over a decade, and the Fund began to see some adoption of the<br />strategies it suggested with the return to civil rule in 1999.<br />Although the state had not, and still hasn’t, provided adequate Power,<br />the IMF continued to urge deregulation beginning with Telecoms,<br />instead of with Power. Banking has also followed, along the path of<br />restructuring, and the field of Retail has seen an opening up of its<br />gates to all comers. Cement manufacture, a major sector of the<br />Construction industry also saw major privatizations.A.Kuffournoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-21191616132854531832012-01-11T10:39:14.735+01:002012-01-11T10:39:14.735+01:00Government of some 160 million people by a paltry ...Government of some 160 million people by a paltry 11 thousand (goons) can&#39;t be this expensive to run. Corruption and dishonesty is the bane of our nationhood. <br /><br />We will wrestle these robbers to the ground. Let them come with stones and sticks and guns, we will come at them with words. We will not cease to speak the world, till we break their spirit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-26814547096413661242012-01-11T09:22:05.471+01:002012-01-11T09:22:05.471+01:00I beg to differ... Subsidy removal is wot dis cont...I beg to differ... Subsidy removal is wot dis contry needs. People sound as if govt is a human being that has been with us since 1999.Give this new govt a chance. Try not to visit d sins of d fada on d children.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-76875337200752031022012-01-11T08:58:02.757+01:002012-01-11T08:58:02.757+01:00May God save us from this hot leaders.AminMay God save us from this hot leaders.AminAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-71246276552427523952012-01-11T03:11:54.637+01:002012-01-11T03:11:54.637+01:00Spot on!Spot on!babeandahalfhttp://www.blogger.com/profile/03168399585575522307noreply@blogger.comtag:blogger.com,1999:blog-8686769.post-20093879467237473012012-01-11T01:33:29.656+01:002012-01-11T01:33:29.656+01:00It&#39;s so great to actually see one article that...It&#39;s so great to actually see one article that so totally understands where the occupy nigeria protesters are coming from,rather than spouting rubbish that doesn&#39;t relate to the reality on ground..kudos.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-19771776167813081892012-01-10T23:40:35.092+01:002012-01-10T23:40:35.092+01:00&#39;A word is enough for the wise&#39;... The mor...&#39;A word is enough for the wise&#39;... The more the government remains adamant to common sense the more &#39;shit&#39; happens to them. Dear Jonathan, its high time you came out of a desperate situation and make a complete return in one sudden burst as my Japanese friends would say and Jeremy strongly implies.Jhdeehttp://www.blogger.com/profile/06569290165879544179noreply@blogger.comtag:blogger.com,1999:blog-8686769.post-31390544620237140292012-01-10T19:42:55.434+01:002012-01-10T19:42:55.434+01:00Jeremy, let me paraphase you position as I underst...Jeremy, let me paraphase you position as I understand it. Let&#39;s do what all other administrations before Jonathan has done- nothing! Wait to see if the economy colapses in the future. That definitely will be the &#39;right time&#39;. After all IBB and Abacha always reminded us at their worst moments that the international community should not dictate to us. &#39;We must apply Nigerian solutions to Nigerian problems&quot;. Let&#39;s forget that the world recession also cost us dearly. Let&#39;s forget the impact of a global community. Greece took this part of continous borrowing, but let&#39;s not worry, Nigeria is imune. Jonathan should have introduced another Oando to help him harvest his share of the 1.4tr subsidy funds. As long as we buy fuel at 65 naira, who cares what happens? We don&#39;t trust Govt.,so let&#39;s blame Jonathan for the failures of all past leaders. Isn&#39;t it his fault that its only now our military is being trained on counter terrorism? It definitely is jonathan&#39;s fault that a cabal has hijacked the whole nation. Why didn&#39;t we protest against all the corrupt past leaders,fat cats of the oil industry,and all those we celebrate today for &#39;taking the side of the poor masses or rather poorly informed masses? Isn&#39;t that what occupy US did? But I agree with you, Goodluck should never be allowed to succeed. After all he wants to use our money to buy shoes.(I&#39;m definitely being sarcastic).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-62182952436173400272012-01-10T19:37:07.802+01:002012-01-10T19:37:07.802+01:00This is concise and incisive; I only wish GEJ coul...This is concise and incisive; I only wish GEJ could read this piece of sincerity!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-76507311948612204022012-01-10T19:13:37.605+01:002012-01-10T19:13:37.605+01:00@ last anonymous. You write (of the National Asse...@ last anonymous.<br /><br />You write (of the National Assembly members):<br /><br />&quot;Why did you not ask them to cut their expenditures and pass the PIB?&quot;<br /><br />In my article, I write, &quot;The Petroleum Industry Bill, which separates the functions of a national oil company, regulation and policy-making, would need to become law. We have been waiting since the previous minister of petroleum for the PIB to be passed.&quot;<br /><br />This is a critical comment about the performance of the NASS in recent years.<br /><br />I also wrote (citing SLS), &quot;the National Assembly consumes 25% of the Federal overheads budget.&quot;<br /><br />If you don&#39;t find my take balanced, I&#39;d welcome a more substantive response from you, to enlighten us all. I&#39;m not being sarcastic.Jeremyhttp://www.blogger.com/profile/07506241936615649754noreply@blogger.comtag:blogger.com,1999:blog-8686769.post-74079031582572019792012-01-10T18:57:24.022+01:002012-01-10T18:57:24.022+01:00Problem is the lack of research in journalism. Mos...Problem is the lack of research in journalism. Most of your details are speculative. Please can you base your &#39;excellent&#39; opinions on facts rather than sentiments. Posterity will hold you responsible for lost lives when its realised that you were among those who misinformed the nation. What are the economic realities? If Tam David west is right, why worry when Govt removes the imaginary subsidy. Did you not hail the assembly for hypocritically passing a motion asking the president to reconsider? Why did you not ask them to cut their expenditures and pass the PIB? I expect a balanced follow up. Tell us the details of the other side of the arguement.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-18746236875028495082012-01-10T18:55:00.180+01:002012-01-10T18:55:00.180+01:00thanks Jeremy, I think the international community...thanks Jeremy, I think the international community needs to see the generational change Nigerian citizens are working hard at and support them.for us as Nigerians, we are saying no going backAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8686769.post-57953548698789875722012-01-10T16:49:33.432+01:002012-01-10T16:49:33.432+01:00Thanks for the deep analysis, it is time we take o...Thanks for the deep analysis, it is time we take our destiny in our handsEruja Mutiu Babatundehttp://www.blogger.com/profile/08661544752468638571noreply@blogger.comtag:blogger.com,1999:blog-8686769.post-42433226913990366602012-01-10T15:00:26.160+01:002012-01-10T15:00:26.160+01:00Bravo Jeremy... that&#39;s why we pay you the big ...Bravo Jeremy... that&#39;s why we pay you the big bucks. Excellent large scale framing of the interlocking issues.<br />Tunji LardnerTunji Lardnerhttp://www.blogger.com/profile/16144485658283473381noreply@blogger.com