Was Nigeria actually paying subsidy on fuel?

[Odohu]

Hello my country people, I want us to reason an issue that have been bothering me for a while. I suppose majority of us in this forum are youths, so we have to deliberate on some key happenings in our dear country and just maybe, we can do things differently when we have the chance. Today I want us to talk about the fuel subsidy hoax, as I would love to call it because there are chances that we were never paying subsidy or that the supposed subsidy was never what and how they say it. Walk with me as I give my perspective on this issue.

      THE CRUDE OIL SWAP DEAL
In a bid to meet local consumption of fuel, subsequent administrations of the Federal government of Nigeria via NNPC developed what is called crude-for-fuel swap deal. By this deal, Nigeria give crude oil to selected companies and in exchange they give Nigeria fuel. Nigeria is not supposed to pay for these fuel so I wonder where the subsidy comes in. I have attached a link to the list of companies that won the bid for 2021 till date. As you can see, both foreign and local companies are involved.
https://www.thisdaylive.com/index.php/2021/05/13/nnpc-picks-16-companies-for-new-crude-oil-swap-deal

      BLENDING OF CONDENSATE AND NATURAL GASOLINE FROM BONNY
Another aspect of this "organized crime" happens through NLNG Bonny and Bonny River Terminal (BRT) operated by Exxon Mobil. NLNG produces Condensate as part of their finished product in addition to LNG and LPG. Foreign companies like TOTSA comes to buy the Condensate, move the vessel to Offshore Lome or Offshore Lagos where the product is blended (mixed with some chemicals) and the same vessel bring the final product back to Nigeria as PMS (Premium Motor Spirit aka fuel). Similarly, the natural gasoline from BRT is blended to DPK (Dual Purpose Kerosene) just somewhere around Nigerian waters and brought back as imported just to deplete our forex.  Why they cannot blend these product at the various terminals and distribute locally is just the same reason they claim to pay subsidy for fuel gotten through swap deals.

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

[1714861649]

1714861649

[1714861649]

1714861649

[Doan9269]

OP let me correct you and also advise you here, before you make a post or create a thread, try as much as possible to see that the aspect you will be talking about on your thread had not been created already by someone, here's a local board doesn't mean we should appear anyow we want and it wouldn'take sense spamming the board with repeated topics already discussed just as in your case, please always check if your topic has already been discussed on another thread or not, I've seen so many threads already on this subject matter on the local board.

[Gozie51]

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

This one go tell you say the matter concerning fuel subsidy for Nigeria no be wetin we go even fit talk here. Government self never get themselves about wetin dey happen for that sector or na them still dey chop the money too. You no surprise say Asari Dokubo wey no even dey for government dey seat gidigba for press house take dey make statement against military while himself don dey chop the money dey come. I no just want talk about subsidy.

[Odohu]

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

This one go tell you say the matter concerning fuel subsidy for Nigeria no be wetin we go even fit talk here. Government self never get themselves about wetin dey happen for that sector or na them still dey chop the money too. You no surprise say Asari Dokubo wey no even dey for government dey seat gidigba for press house take dey make statement against military while himself don dey chop the money dey come. I no just want talk about subsidy.

You don talk am finish my brother. The matter big pass wetin we know. I just say make I post am make we for also know another angle wey people take dey chop the country clean mouth. I even dey hear rumour say one governor been talk say one marketer dey complain give am say the money wey them wey be marketers dey make untop this fuel matter don too much. Just imagine wen person conscience don dey pinch am say them don over chop money! Anyhow them do am sha, we go survive... Baba God dey for us.

[Mate2237]

Some people say dat thing na scam since. But really in President Goodluck era or regime, fuel subsidy was really paid and that was why we enjoyed the price of fuel at that time but when Buhari came to take over the mantle of leadership, fuel subsidy was removed, and it has not been implemented so when Tinubu came he implemented the what Buhari as already removed. So it was not the present president that removed fuel subsidy in Nigeria.

[SmartGold01]

Our country don kpai since and una dey here da tok wetin no get head see even though we tok till tomorrow wetin go be go still be nd I know say as we don do mistake nothing we fit do again until the present regime pass, oya na make una see am we go still see fuel for 1k soon if time no taking and we say na him be the best una go give am vote.
Back to your questions, from wetin you don analyzed here I no think say Nigeria dey pay subsidy for fuel and e dey possible this na master minded game wey dem dey play us to carry chop us.

[CryptoHeadlineNews]

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

But wait oh, because before we talk about the issue of fuel subsidy, let's not forget about the past minister of Petroleum in the person of Muhammedu Buhari who single-handedly took that position immediately after he was sworn in simply because he had an ulterior motive concerning that sector because as eh stands now, he is the only person wey go fit tell us whether Federal governments been dey pay for fuel subsidy or not, and if not, wetin happened to the money, which is what I will really love to hear one day that EFCC calls Mr ex President to give account of his spending for the last 8yrs in office, because when it comes to that, I dey sure say Tinubu no go probe Buhari, as they are both the same.

[CryptopreneurBrainboss]

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

Me I been dun talk am say for a country that's paying subsidy, we still dey buy fuel costly for Nigeria dat time wey fuel na 197 +/-. Without this your accusations or findings, e dey everybody eye say the subsidy was a scam form day one and people been dun dey find way to commot am but we never get any president wey get mind like Tinubu to run am. Even Peter Obi during his campaign rally been dun talk am say him go commot subsidy although him be get different plans unlike as tinubu carry commot am without putting in measure to tackle the misuse of this opportunity to kill Nigeria with fuel prices spiking up as we dey experience am now.

This subsidy was just a means to settle some elite members of the political godfathers in the country, the subsidy was initiated with good faith but people turn am to wetin e be wey be just another means to the divert public funds for the elite them, those wey dem dey pay subsidy still dey divert majority of our product go neighboring countries and so many other things wey this people dem dey do. The issue now no be say government dun commot subsidy but wetin dem go do concerning the state of our local refinery to help bring product into the market to help stabilize the fuel prices.

[Odohu]

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

 The issue now no be say government dun commot subsidy but wetin dem go do concerning the state of our local refinery to help bring product into the market to help stabilize the fuel prices.

This one self na another big issue. E go shock you to know say government been budget up to 350,000 barrels of crude for our local refineries daily. instead of refining this, they sell it through Bonny waters outside OPEC quota for our country. The oga them make more money this way that is why they will never allow our refinery them work. When I hear say Buhari approve some $1.5 billion money to take work PH and other refineries, I just laugh as I know say na another wasted money.

Our country matter plenty o....

[cytpoway121]

Was Nigeria actually paying subsidy on fuel?

Yes, Nigeria pays subsidy; it was signed into law by the then president Olusegun Obasanjo; back then, subsidy fee was cheap and very affordable and later on as supply increases; the fee for subsidy also increases. Under the Goodluck Jonathan presidential reign; there were multiple cases of over inflated subsidy fee; back them after several consultations, single digit inflation and $ at 158 Naira; GEJ Quoted and said

if you cannot find the source of thievery; you end the source.

Naively citizens fell for political agendas and subsidy + subsidy scam continued.

Under the APC Led government; they increased subsidy fee to about 500% of actual value in just 8 years. Even after govt claims to have removed subsidy; the subsidy scam continues till today with NNPC pegging a price instead of permitting independent sourcing, independent price company.

[CryptSafe]

Based one the topic of this thread, I will say this that I strongly doubt the authenticity of this fuel subsidy of a thing. I am fully aware of the oil swap deal  which was held last year so tell me after swapping the oil, what else? did they not reach agreement for something in return? What was the agreement and the product they agreed on returning upon swap? You see these are the questions I keep asking and waiting for an answer.  The government claimed they are paying for fuel subsidy which some few individuals sit at their comfort zone to feast on it.
OP the truth was that Nigeria was actually doing that but just some few were eating the money and I was wondering what then the oil swap was for.

[BIT-BENDER]

OP let me correct you and also advise you here, before you make a post or create a thread, try as much as possible to see that the aspect you will be talking about on your thread had not been created already by someone, here's a local board doesn't mean we should appear anyow we want and it wouldn'take sense spamming the board with repeated topics already discussed just as in your case, please always check if your topic has already been discussed on another thread or not, I've seen so many threads already on this subject matter on the local board.

I did not see anything wrong with what the OP has said here and even though this topic has been brought out or talked about here I think the way and manner the OP brought his here is quite different and unique and personally I find it more interesting than other similar topic I have seen on this board, let's try to read the content of an OP post and assimilate it properly before shifting it out based on the claims that it's been discussed here before.

[Asiska02]

     THE CRUDE OIL SWAP DEAL
In a bid to meet local consumption of fuel, subsequent administrations of the Federal government of Nigeria via NNPC developed what is called crude-for-fuel swap deal. By this deal, Nigeria give crude oil to selected companies and in exchange they give Nigeria fuel. Nigeria is not supposed to pay for these fuel so I wonder where the subsidy comes in. I have attached a link to the list of companies that won the bid for 2021 till date. As you can see, both foreign and local companies are involved.

You know say this point wey you bring up, I have heard of it several times before that this is the the government does with foreign countries were our crude oils are been refined. How I had it is done is this way; let’s say the government gave them 100 barrels of crude oil to refine, after refining them, they’ll keep like 30 barrels of the refined oil and give us the remaining 70 barrels of refined oil. This now raise a sense of doubt that who and where are they paying money to for fuel subsidy when the government now own the refined oil and can do anything they like with it.?

These are few of the reasons I feel there is more than meet the eyes in regard to the glorified subsidy payment. What is your view?

Your reasons are tangible enough to question the government who they’ve been paying the money for subsidy to. There’s a very big corrupt practice by the governments and some elites here. I wish the new government can look into this and fish out those that have been benefiting from this fuel subsidy and pay back, the enemies of the nation who wants the country to go bankrupt.

[Buddyspa]

It's really worth the question, but I think is government is paying but the bad ones are embezzling it.

[Dzwaafu11]

Buhari came to take over the mantle of leadership, fuel subsidy was removed, and it has not been implemented so when Tinubu came he implemented the what Buhari as already removed.

Buhari did not remove fuel subsidy through out during his regime, mate. If na buhari remove am since then the price of fuel for no they where e dey now the price for don rise more than the current one since. we all know that, but wetin they there be say, when buhari they as the president of Nigeria, the actual amount of money that suppose to go where them they pay for the subsidy no they go complete, some set of people they chop am, and that is why by that time you go see say price they rise sometimes and fuel go scarce. Na because money wey suppose to go there other people they chop am.

So it was not the present president that removed fuel subsidy in Nigeria.

And for this one, wetin I think be say, like maybe the reason why once the present president just come in with the action of removing the fuel subsidy is that, I think buhari don sign am keep but him never implement am base one him go they think say him no go implemt am as his about to live the office, na why him live am for the present president to do am.

[omgitsmehehe]

Buhari did not remove fuel subsidy through out during his regime, mate. If na buhari remove am since then the price of fuel for no they where e dey now the price for don rise more than the current one since. we all know that, but wetin they there be say, when buhari they as the president of Nigeria, the actual amount of money that suppose to go where them they pay for the subsidy no they go complete, some set of people they chop am, and that is why by that time you go see say price they rise sometimes and fuel go scarce. Na because money wey suppose to go there other people they chop am.

The country condition de worsen every day, I just pray make God intervene, if not where we de go na straight to square one. Even our naira value de depreciate against the dollar, make the present President do something ooh, especially now wey time de to raise this country. The youths no de happy at all, person no just get joy as e de wake up from sleep. Former president Muhammadu Buhari no remove any fuel subsidy, this subsidy don dey the country since, why be say na now this new government go remove subsidy, come make life hard the common man.

[DaNNy001]

Buhari did not remove fuel subsidy through out during his regime, mate. If na buhari remove am since then the price of fuel for no they where e dey now the price for don rise more than the current one since. we all know that, but wetin they there be say, when buhari they as the president of Nigeria, the actual amount of money that suppose to go where them they pay for the subsidy no they go complete, some set of people they chop am, and that is why by that time you go see say price they rise sometimes and fuel go scarce. Na because money wey suppose to go there other people they chop am.

The country condition de worsen every day, I just pray make God intervene, if not where we de go na straight to square one. Even our naira value de depreciate against the dollar, make the present President do something ooh, especially now wey time de to raise this country. The youths no de happy at all, person no just get joy as e de wake up from sleep. Former president Muhammadu Buhari no remove any fuel subsidy, this subsidy don dey the country since, why be say na now this new government go remove subsidy, come make life hard the common man.

Brotherly you talk say as if you know this country again, every new government dey actually won prove say them know watin dem dey do and in so remove some.previous implementions of the previous government but the thing wey dem no know be say all this changes wey all new government dey impose or remove na all for their selfish reasons.