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Nairaland Forum / Nairaland / General / Politics / Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy (27522 Views)
Remove Subsidy, Stimulate Infrastructure, Tinubu Tells Buhari / Ben Murray-Bruce: Nigeria Should Share Work Money Not Oil Money / Remove Subsidy And Crash Your Currency - Dangote (2) (3) (4)
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Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:08am On Jan 08, 2016 |
U.A.E. Removes Fuel Subsidy as Oil Drop Hurts Arab Economies http://www.bloomberg.com/news/articles/2015-07-22/u-a-e-to-link-gasoline-price-to-global-markets-effect-aug-1 Cc: Lalasticlala, Obinoscopy, Mynd44 |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:08am On Jan 08, 2016 |
Saudi Arabia fuel subsidies cut as crude revenue dive http://oeronline.com/industries/energy/saudi-arabia-fuel-subsidies-cut-as-crude-revenue-dive.html Why Nigeria should do the same United Arab Emirate has an estimated population of 10 Million in 2015 Saudi Arabia has an estimated population of 32 Million in 2015 Nigeria has an estimated population of 170 million in 2015 United Arab Emirate produce an average of 3 million barrel of oil per day Saudi Arabia produce an average of 10 million barrel of oil per day Nigeria produce an average of 2.2 million barrel of oil per day. United Arab Emirate refine 1Million barrel of crude a day(about 80million litres of petrol a day) Saudi Arabia refine 3million barrel of crude oil a day (about 240million litres of petrol a day) Nigeria refine 300 thousand (0.3 million) barrel of crude oil a day (about 24million litres of petrol a day) UAE and Saudi Arabia do not import petrol. Their refinery operate at more than 95% capacity. All their fuel consumption is produce domestically. Nigeria import 80% of petrol consume in the country because Nigeria refinery find it difficult to operate at 50% capacity. Most times all the petrol consume in Nigeria are imported. if UAE and Saudi Arabia can not afford subsidy anymore despite producing and refining their petrol in their country, I don't think Nigeria who import almost all the petrol it consume can continue with subsidy. Nigeria is a country with no infrastructure. Instead of wasting the little money we have on consumption through subsidy that favour the rich more than the poor, the money should be directed to area which have more impact in the lives of average Nigerians. The more the number of cars you have, the bigger your car and fuel consuming generators, the more your capacity to fuel the cars and generators the more you benefit from subsidy. And it is the rich and upper middle class that falls into this categories. Price can still be regulated even if subsidy is removed. Govt can set quaterly minimum and maximum price. This is being done in canada. And it can be done in Nigeria. This is shown below Price Regulation http://www.consumerscouncil.com/index.cfm?id=13904 Cc: Lalasticlala, Obinoscopy, Mynd44 60 Likes 6 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:10am On Jan 08, 2016 |
it's high time we remove this subsidy once and for all! 1 Like |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Charliewyt: 10:18am On Jan 08, 2016 |
Next should be nigeria |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:20am On Jan 08, 2016 |
Why Nigeria should do the same United Arab Emirate has an estimated population of 10 Million in 2015 Saudi Arabia has an estimated population of 32 Million in 2015 Nigeria has an estimated population of 170 million in 2015 United Arab Emirate produce an average of 3 million barrel of oil per day Saudi Arabia produce an average of 10 million barrel of oil per day Nigeria produce an average of 2.2 million barrel of oil per day. United Arab Emirate refine 1Million barrel of crude a day(about 80million litres of petrol a day) Saudi Arabia refine 3million barrel of crude oil a day (about 240million litres of petrol a day) Nigeria refine 300 thousand (0.3 million) barrel of crude oil a day (about 24million litres of petrol a day) UAE and Saudi Arabia do not import petrol. Their refinery operate at more than 95% capacity. All their fuel consumption is produce domestically. Nigeria import 80% of petrol consume in the country because Nigeria refinery find it difficult to operate at 50% capacity. Most times all the petrol consume in Nigeria are imported. if UAE and Saudi Arabia can not afford subsidy despite producing and refining their petrol in their country, I don't think Nigeria who import almost all the petrol it consume can continue with subsidy. 15 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:25am On Jan 08, 2016 |
front page |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tswitch: 10:34am On Jan 08, 2016 |
When a globally celebrated and accomplished economist was part of the team that told Nigerians it was time to do the same, some r◇tarded carcasses matched to Freedom Park in Ojota to show the learned and international community their folly. A wasted opportunity to totally diversify the Nigerian economy and make it bigger than it's 2015 status of the biggest economy in Africa. Now the zombies are back in power cheered on by their gullible supporters here to finally waste the nation they had no part in building. The portions of all enemies of Nigeria in the Lake of Fire await them! 75 Likes 7 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:43am On Jan 08, 2016 |
tswitch:The reason for the march wasn't an economic one. GEJ's administration gaffed on the presentation and implementation like it did on so many national issues. The citizens didn't trust the government, and recent revelations about the widespread corruption in his administration have proved us right. Remember, there was partial shbsidy implementation.What was the money saved used for? The earlier PDP apologists realise that the Umbrella, and the Broom, are not bigger than Nigeria, the better. 108 Likes 7 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Toosure70: 10:44am On Jan 08, 2016 |
Nigeria what are you doing? |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by modath(f): 10:45am On Jan 08, 2016 |
tswitch: Stop chasing shadows & peddling bad belle opinions.. Nigerians were not against the removal in principle but cos they didn't trust (rightly so) the government to do right by them, we know they are not sincere & will never be judicious with any savings.... By the way "Mr unretarded Solomon of our time" who loves Nigeria more than the next person---- , what happened to the proceeds of the partial removal of subsidy? Lawan & Otedola drama, how far? Kindly highlight just 2 ways it benefited the average Joes & janes ..... You have till May 29th 2019 to give an answer!!!! Uhhhhhmm! 64 Likes 4 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:45am On Jan 08, 2016 |
tswitch:Ah, ignore my earlier comment. It seems you're still listening to TAN mixtape by Dj Ubah and Subsidy crew. Election don end o... 8 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:46am On Jan 08, 2016 |
modath:Na wa o... twinny 3 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:47am On Jan 08, 2016 |
modath: Nigeria did not trust the govt in 2012 because of massive corruption at that time. 16 Likes 2 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:53am On Jan 08, 2016 |
meetmonde: how is it greed? |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by modath(f): 10:57am On Jan 08, 2016 |
musKeeto: I'm like, gerra a ma head mehn!!! 1 Like |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 10:58am On Jan 08, 2016 |
front page Mynd44 |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 11:04am On Jan 08, 2016 |
tuale4u:you post a topic and went ahead to be FTC.... if you want the FTC so bad, go ahead and eat it 2 Likes |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 11:12am On Jan 08, 2016 |
meetmonde: Bro I wasn't FTC The first one is for UAE The second one for Saudi Arabia They are both part of the original post. bros no vex 3 Likes |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 11:49am On Jan 08, 2016 |
Charliewyt: Nigeria should follow suit |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tswitch: 12:47pm On Jan 08, 2016 |
modath: Like your **** response does not show your low reasoning ability. Maybe you could learn by getting your information from informed people and reliable sources than those trashy blogs and news media you apparently read.......just maybe. If you do not understand how well an economically stable Nigeria benefits the common man, it is your problem not mine. Little wonder **** like you make we all think your generation has nothing to offer. Pathetic! 7 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tswitch: 12:53pm On Jan 08, 2016 |
tuale4u: And the present "incorruptible" government is still paying same petroleum product marketers subsidy with over 20% increase in payments for Q3 amd Q4. Incredible! **** 17 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by stzy(m): 1:00pm On Jan 08, 2016 |
Its funny ... U can find all d reasons u want 2 support subsidy removal bt d fact remains that APC was against it solely on d ground of higher fuel pump price n Nigerians can't afford dat n d same still stands nw.. I dnt trust dis govrnment so let's enjoy our subsidy since we fell inlove. With it in 2012 11 Likes |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Bevista: 1:00pm On Jan 08, 2016 |
modath:There is another fundamental difference between removing subsidy right now and doing so back in 2012, which most people are not thinking about. --- Back in 2012, subsidy removal would have resulted in an instant increase in pump price of PMS from N67 to N141, whereas any subsidy removal right now will have no immediate effect on pump price of PMS. --- So, from a psychological standpoint, Nigerians are less likely to resist subsidy removal right now the way they did back in January 2012. 18 Likes 4 Shares |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tswitch: 1:07pm On Jan 08, 2016 |
musKeeto: Your first sentence just helped drive my point home. The reason for the march by the enemies of Nigeria and their imbec¡lic cohorts was an obvious calculated attempt to stall the growth of the entity called Nigeria and hence showcase folly. Which widespread corruption news? Dasukigate? Or has Buhari returned his own share of the "security vote" ? It is very sad if you believe learned persons would ever believe Lia Mohammed controlled misinformation? We await further drama from the anals of the APC lead government..... till we watch Dasuki live on TV and hear him debunk most stories going around.......that if he is not silenced. 9 Likes 1 Share |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tswitch: 1:12pm On Jan 08, 2016 |
musKeeto: And you obviously have no inkling of the subject matter as you are apparently still holed up in the dark hollow cranial cavity you call a brain. 6 Likes |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Pavore9: 1:16pm On Jan 08, 2016 |
Subsidy makes no sense. |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 1:30pm On Jan 08, 2016 |
Pavore9: true |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by tomakint: 1:33pm On Jan 08, 2016 |
Remove subsidy this, remove subsidy that ... ...and I keep asking myself and these advocates of fuel subsidy removal that, 'is Nigeria as Prudent in managing their oil as U.A.E'? |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by Nobody: 1:40pm On Jan 08, 2016 |
tomakint: if they cannot fund subsidy because of the drop in oil price despite the fact that they have functional refinery and low population, how do you expect Nigeria to fund it. 2 Likes |
Re: Why Nigeria should remove Subsidy now. Saudi Arabia & UAE have dropped Subsidy by NoMoreTrolling: 1:56pm On Jan 08, 2016 |
Before naija progresses ehn, chai!!! See pple saying that they voted for subsidy during GEJs time, cause he was corrupt Meeeeeeeen That's my naija for u though, filled with hypocrites. U can't be a hypocrite and be expecting progress simultaneously 8 Likes |
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