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Nairaland Forum / Nairaland / General / Politics / No Subsidy Paid In January— Kachikwu (15053 Views)
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Re: No Subsidy Paid In January— Kachikwu by hassymo5(m): 8:22am On Feb 03, 2016 |
Mynd44: I concur...!!!!! |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 8:28am On Feb 03, 2016 |
ademoladeji:Yes if not tell me from what country they import the pms let's check thier pump prise minus VAT oyah U ready to do the maths? |
Re: No Subsidy Paid In January— Kachikwu by AgoraRoad(m): 8:30am On Feb 03, 2016 |
you would be good on my site |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 8:31am On Feb 03, 2016 |
Mynd44:I keep saying our major challenge was and still is CORRUPTION. try and get a licence to export wood.see how much bribe they will demand 2 Likes 1 Share |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 8:35am On Feb 03, 2016 |
gists: This has always been my view but like you said hatred for PMB will never open their blind eyes to the opportunities that abound in this present economic climate. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by bettercreature(m): 8:36am On Feb 03, 2016 |
grandstar:Deregulation can not work in Nigeria,it will only cause long queue in the NNPC petrol station around the country Nigerian Marketers are greedy,they'd cause artificial scarcity like they did last xmas 1 Like |
Re: No Subsidy Paid In January— Kachikwu by honeychild(f): 8:40am On Feb 03, 2016 |
onatisi: Actually as far as I can remember it was actually the PDP that made the campaigns about religion ( I can recall countless pastors campaigning about Buhari's plans to islamize Nigeria) and tribe. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by 989900: 8:40am On Feb 03, 2016 |
I might just have to find time to do this article on why the trio of excess liquidity, imported refined petroleum products, and unstable power supply, account for probably over 75% of a weak Naira -- those are your real causes -- the rest are just some charade, or cosmetic at best! Reading many comments on here, suggests most commenters just don't get it. |
Re: No Subsidy Paid In January— Kachikwu by blackfase(m): 8:40am On Feb 03, 2016 |
We all already kno that. What they need tell us is how much they are scooping off our backsides everyday. Thieves! |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 8:45am On Feb 03, 2016 |
onatisi: you are a big time liar, it was the pdp and Gej himself that divided Nigeria more along tribal lines just because of GEJ's re-election, they painted APC as an Islamic party and told everybody that PMB will islamise Nigeria, GEJ went round churches in Nigeria kneeling before all manner of prophets trying to paint himself as a devout christian that must be allowed to continue to rule prevent PMB from grabbing power to islamise Nigeria according to pdp's yeye theory. Lots of Christians and Pastors fell for his deception especially my peeps from the se. This is one major reason the entire North turned against Gej, even pdp states in the north. This is also the reason the average se person does not see PMB as President of Nigeria till now. Please don't come here to twist facts. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by ubah84(m): 8:47am On Feb 03, 2016 |
grandstar:my brother if we stop importing we will learn to produce and subsequently export |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 8:48am On Feb 03, 2016 |
bettercreature: Thank you Sir o, we will be buying fuel for N200 per litre now if PMB allowed the marketers to have their way and in turn the same advocates of deregulation will blame PMB again for the high price of fuel. Nigerians can be terrible |
Re: No Subsidy Paid In January— Kachikwu by omostar: 8:51am On Feb 03, 2016 |
grandstar: I guess the FG had earlier stated they would be providing forex for those raw materials. |
Re: No Subsidy Paid In January— Kachikwu by onatisi(m): 8:51am On Feb 03, 2016 |
honeychild:Then I guess it was vice versa then,but in the north it was a different ball game entirely from the south as many clerics and their followers even threatened to kill pdp supporters . |
Re: No Subsidy Paid In January— Kachikwu by onatisi(m): 8:53am On Feb 03, 2016 |
Goke7:Obviously you live in the southern part of Nigeria. Ask from those who live in the north what happened |
Re: No Subsidy Paid In January— Kachikwu by chinchum(m): 8:57am On Feb 03, 2016 |
grandstar:There is priority given to manufacturers to access the dollars at official rate of 197 in quest to import raw materials/equipments. Should naira be devalued today from the official 197naira/usd, do you in your analytical mind think the parallel market /black market will remain the same or shrink? It is a big NO, it will most likely make the naira get to the 400 faster than it can ever get to. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 8:59am On Feb 03, 2016 |
onatisi: The question you should ask yourself is that how come the enormous support GEJ had in 2011 waned in 2015, this is one question you guys have not sincerely answered instead you keep blaming the north, the sw, islamic clerics, even PMB, e.tc. for GEJ's failure, na wa for una o. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 9:00am On Feb 03, 2016 |
Goke7:What yoy just said was the argument for subsidy. Did you forget? |
Re: No Subsidy Paid In January— Kachikwu by piusato1: 9:04am On Feb 03, 2016 |
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Re: No Subsidy Paid In January— Kachikwu by coleon(m): 9:04am On Feb 03, 2016 |
grandstar: My dear friend the govt has thought this through and i can tell you a genuine manufacturer that intends to import machineries for manufacturing will get FX at the official rate of 197naira to a dollar through LC's, i am saying this as a professional trader that does international trades day in day out in a commercial bank. The only set of people the govt has pushed to the black markets are people like you that erodes our economy without any production capacity making us imports toothpicks,soaps,plastics e.t.c and i support the govt fully on this. Nigeria need to take this tough decision , you said importation has never been the issue and you got likes, stop misinforming the public because of your pain to get cheap FX because over-importation is actually bad for any economy and it's the very big issue here in Nigeria because this is what has put so much pressure on our foreign reserves and it's making the exchange rate to sky rocket. We need to stop this importation madness ASAP and export more finished products other than crude oil. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 9:08am On Feb 03, 2016 |
erico2k2: the subsidy all along was a scam by the Nigerian elites which made some people to doubt whether there was actually subsisdy, the govt itself knows the landing cost of pms but like someone said on this forum nigerian marketers are greedy lots who are there to rip us off with excuse of deregulation, if the price of the major raw material of what they are importing has greatly reduced over time, how come some folks still want to sell the product for an higher amount? These guys have been receiving huge amounts as subsidy despite the crash in price of crude oil haba. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by MabraO: 9:23am On Feb 03, 2016 |
grandstar: U just an enemy of progress Govt is coming out to tell u dey didn't pay subsidy for January as at that they save #200bil yet u dying over heels just because the govt is making lil progress If at all u claim subsidy was paid were u d beneficiary? I bet wen there is scarcity today u ll be amost ur groups(enemies of progress) to castigate the govt nd start spewing poo |
Re: No Subsidy Paid In January— Kachikwu by ademoladeji(m): 9:23am On Feb 03, 2016 |
erico2k2: Na you suppose sabi nau! You shld give us where they buy PMS from, rate at which it's being sold to dem, their VAT, cost of bringing it back plus contingencies. Professor, I'm waiting 4 you ooooo |
Re: No Subsidy Paid In January— Kachikwu by Corperadams: 9:27am On Feb 03, 2016 |
Hmmm... If i can remember d same people dat was shouting dat Goodluck wan kill people by removin subsidy are same people shamelessly happy now. Anyway, lets see wat d money will b used for. #WeAreWatching. 1 Like |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 9:34am On Feb 03, 2016 |
Goke7:U got it wrong sub side was never the scam but the volume of subsidy was the scam.people declaring more than what they imported even empty ships where declared as fully laddened. That was the scam.we can't do without Subsidy unless we can produce %80 of our daily consumption even at that we still need subsidy by govt. |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 9:39am On Feb 03, 2016 |
erico2k2: I agree with you cos we are saying the same thing which points to one word - corruption which includes the marketers as well, thanks. |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 10:00am On Feb 03, 2016 |
Goke7:Bravo.we got there at last This is the major challenge we face.everyone wants his/her share of the national cake. Y would this govt not borrow money to build even a small refinary beats me.dies this not suprise you? This Oil swap would be an Ideal way to get Model refineries and power stations built so we can be self sufficient and look unto solving other matters. Question :Would the Cabals agree to this Answer:NO. |
Re: No Subsidy Paid In January— Kachikwu by banki(m): 10:12am On Feb 03, 2016 |
onatisi: It's a lie am Nigerian and I don't see things in that line! Loosers only see things in that line |
Re: No Subsidy Paid In January— Kachikwu by Goke7: 10:18am On Feb 03, 2016 |
erico2k2: The cabals will never agree, no president can singly handle the cabals unless the generality of Nigerians get behind the govt to handle the cabals but our tribal and religious tendencies is always the obstacle and this is what the cabals leverage on oppose the govt of the day. |
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 10:21am On Feb 03, 2016 |
ademoladeji:I engage in arguments that will lead to enlightenment not beer parlour talk with no links or citation. Don't just belie e everything yoy read or hear.scrutinise as well For added knowledge Nigeria import %80 of pms frm India.I do a who buys %70 of our Oil.now yoy can go check pump price pms minus Vat |
Re: No Subsidy Paid In January— Kachikwu by Topiipii(m): 10:23am On Feb 03, 2016 |
coleon: Someone on the front page should please quote the comment above as well as the comment quoted by coleon, more people should see this and not the misinformation currently put there by grandstar on importation. cc: Demmocrats, Mynd44 |
Re: No Subsidy Paid In January— Kachikwu by ramsol00: 10:40am On Feb 03, 2016 |
grandstar: Lol....lol....you are such a funny dude. Reading your initial comments, you seems to appear like someone with better understanding of macro economics, but unfortunaletly your comments shows you lack even the basic knowledge. Apologies if this sound like insult, I never intended to in anyway or manner. Now 1. If you ever follow the fall of naira from when it began last year, then you should know that Emiefiele has been doing this even before Buhari was sworn in. And you said "There is no subsidy and yet the government can't meet demand for forex! Its incomprehensible The biggest symptom of its inability to meet demand is the 306 at the back market." 2. Dude like I said I dont want to sound disrespectful, so you mean it is the business of FG to sell dollar? LOL....dont forget CBN is/should be an independent institution but you can actually argue this in the case of Nigeria though. But the truth is that the present governor was not appointed by Buhari, it is easier to say that Emiefele is only responding to the naira fall to the best of its knowledge. 3. Now for your information, CBN being the FG's banker sells the FX (ofcourse on behalf of FG) simply from the Foreing reserve,However, due to the consuming nature of our economy (importing virtually everything) as well as drastic fall in the price of crude oil (our major "95%" source of forex) our foreing reserve (from which the CBN will sell the fx to people n companies) has been going down drastically day by day. Now my question is, if you have to be objective, do you then blame Buhari(a govt of just 8/9 months old) for not understanding the economy or you blame the past leaders who have failed to build our foreing reserve when the oil price what at its peak? 4. This is not to side with the present govt, but we should understand that in any economic problems, there are always two-way responses for it. The first way is via monetary policy (through the CBN) and the other way is via fiscal policy (use of govt income n expenditure i.e budget). All efforts we have seen so far are basically CBN monetary policies which are expected to be independent of the FG position. You can only see much of FG responses from the implementation and ofcourse the effectiveness of the budget as well as how well the FG and CBN can align their policies together in producing some corrective measures to the present crises. Emiefele's response to the economy crises has been the same both in the Jonathan's era and now. In the real sense, You cannot put the blame on Buhari for inability of the CBN ( a governor that was not appointed by him and that would also reqiures 2/3 of house to remove) to accurately respond to the problems. 5. This is not to take away the fact that the present goverment has been struggling to show us the way out of the present economic crises. They also need to come out plain and tell us their plan to get out of this mess rather than telling us all we already know about the past admin loots. |
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