Beancounter93:


We don't have constant power, because the power companies are forced to charge subsided prices...which prevents them from making enough of a profit to pay for much needed improvements...plus the subsidy just barely covers the losses they make charging at subsided levels.

Hahahaha, allow the power companies and watch them charge exorbitantly for nothing without any power provided and they will give you reasons why they should charge more or increase the bills

bravehost4u:


Hahahaha, allow the power companies and watch them charge exorbitantly for nothing without any power provided and they will give you reasons why they should charge more or increase the bills

They would also earn enough money to begin to spend on fixing things...and they finally would have no excuse to not pay their taxes...plus government would no longer need to pay them subsides , and investment would be attracted...and there would be more jobs.

We let the GSM companies charge exorbitant prices...and it is because of that that we have home internet and a lot of IT infrastructure that needed no government money to build it...and prices eventually came down anyway.

We dont get oil for free.

If oil price falls below 35dollars, we loose money to get it. It costs almost that much to get a barrel of oil from the ground.

erico2k2:

You should try and Understand what I posted,In reality, there is nothing wrong in subsidy if implemented rightly, the Uk has a robust subsidy in its Diesel up to 50% if you don't know.The problem faced is corruption, talking about cheap to produce to make profit yes U 4got we got Oil for free we do not need to buy to refine.

okeyfermod:
We dont get oil for free.

If oil price falls below 35dollars, we loose money to get it. It costs almost that much to get a barrel of oil from the ground.

Im very confident you understood what I meant when I said we get Oil for free!

Beancounter93:


We don't have constant power, because the power companies are forced to charge subsided prices...which prevents them from making enough of a profit to pay for much needed improvements...plus the subsidy just barely covers the losses they make charging at subsided levels.

Oga, forget power companies, do you know the amount of money generated through illegal estimated billing. Imagine a two bedroom being billed with over 50k per month. Irony is people work in V/I and live in Berger, hardly at home. The stealing of power companies is out of this world. Please stop talking about subsidy. How I wish Independent audit can be done. You will know we are paying more than subsidy on power to give us 24hrs service.

Omooba77:


Oga, forget power companies, do you know the amount of money generated through illegal estimated billing. Imagine a two bedroom being billed with over 50k per month. Irony is people work in V/I and live in Berger, hardly at home. The stealing of power companies is out of this world. Please stop talking about subsidy. How I wish Independent audit can be done. You will know we are paying more than subsidy on power to give us 24hrs service.

Well, an independent audit/report has been done...and here is the report

Page 18 of the report linked is shown to give you a picture of the problem

Also, even with estimated billing, at the end of the day, they are still charging less than the cost of producing the power .

And many people are not paying..thus pressure gets put on those who do pay.

Plus you cannot generalize Lagos to the whole country by the way.

Am saying that we have opportunities to remove fuel subsidy then and still by fuel at cheap price but we will deceive by the bubu and APC now we are buying fuel at N167 and still paying subsidy. U are saying Nigeria is buying fuel cheap do those other African countries produce oil? Whats their purchasing power and whats their currency rate. What can u buy with N5 now nothing and what can u buy with 5 ghana cides. We really need to overhaul this country and start afresh. Things arw getting worst everyday. This government make more money in oil than any other government if u want to know. How much is 1 barrel of oil and how much is dollar to Naria.

Beancounter93:


If we remove subsidy today, fuel would cost as much as it does in other African countries without subsides...which is N300 and above....and that includes the fuel producers.

Infact, Nigeria is the third cheapest fuel price country in Africa., apart from Algeria and Angola...and the fifth cheapest in the world.

Beancounter93:


Well, an independent audit/report has been done...and here is the report

Page 18 of the report linked is shown to give you a picture of the problem

Also, even with estimated billing, at the end of the day, they are still charging less than the cost of producing the power .

And many people are not paying..thus pressure gets put on those who do pay.

Plus you cannot generalize Lagos to the whole country by the way.

Thanks for this; do you factor how much revenue is going to individual account?

Omooba77:


Thanks for this; do you factor how much revenue is going to individual account?

No i didn't. The report I posted is a general report on the power sector in Nigeria.

BUHARI AND HIS COHORTS ARE SQUANDERING NIGERIAN RESOURCES RECKLESSLY.

BUHARI AND HIS COHORTS ARE SQUANDERING NIGERIAN RESOURCES RECKLESSLY AND FAST.

BUHARI AND HIS COHORTS ARE SQUANDERING NIGERIAN RESOURCES RECKLESSLY AND FAST.

THIS MACBAN'S GOVERNMENT IS IN A HURRY TO LIQUIDATE NIGERIA.

Wetin this subsidy mean sef? This thing just dey so confusing.

erico2k2:

You should try and Understand what I posted,In reality, there is nothing wrong in subsidy if implemented rightly, the Uk has a robust subsidy in its Diesel up to 50% if you don't know.The problem faced is corruption, talking about cheap to produce to make profit yes U 4got we got Oil for free we do not need to buy to refine.

Your claim about the UK is outright false. If anything, the very opposite is true.

https://www.gov.uk/government/consultations/consultation-on-reforms-to-the-tax-treatment-of-red-diesel-and-other-rebated-fuels

At Budget 2020, the government announced that it will remove the entitlement to use red diesel from most sectors from April 2022, to ensure businesses pay for the harmful emissions they produce and to incentivise the development and adoption of greener alternatives.

As for your claim that "the problem faced is corruption", well, yes, that is the point others have already tried to make to you: subsidies cannot be divorced from corruption, subsidies create opportunities for corruption. You simply can't have one without the other, no matter how much you might wish it.

omohayek:

Your claim about the UK is outright false. If anything, the very opposite is true.

https://www.gov.uk/government/consultations/consultation-on-reforms-to-the-tax-treatment-of-red-diesel-and-other-rebated-fuels


As for your claim that "the problem faced is corruption", well, yes, that is the point others have already tried to make to you: subsidies cannot be divorced from corruption, subsidies create opportunities for corruption. You simply can't have one without the other, no matter how much you might wish it.

People like you are the reason we have the kind of leaders we have now, something so simple you cannot even comprehend, did you bother to read what you posted b4 calling what I said FALSE?Go back to the Red Diesel POST AND GET SENSE

erico2k2:

People like you are the reason we have the kind of leaders we have now, something so simple you cannot even comprehend, did you bother to read what you posted b4 calling what I said FALSE?Go back to the Red Diesel POST AND GET SENSE

You're laughable in your limited intellect. Did you miss the bit about climate change? Were you asleep when the UK signed up to ambitious climate-change targets at the G7 summit? Do you realize that the UK plans to have half of all cars be electric by 2030, and that diesel cars will be banned by then?

https://www.autoexpress.co.uk/news/353804/half-uk-cars-must-be-electric-2030-meet-climate-change-goals

https://edition.cnn.com/2020/11/18/business/diesel-petrol-ban-uk/index.html

https://www.bloomberg.com/news/articles/2021-05-18/u-k-aims-to-secure-g-7-pledge-to-end-subsidies-for-fossil-fuels

How exactly does all of this mesh with major subsidies for diesel in your cramped little mind? Worse yet is that you don't even bring a single reference to the table to buttress anything I've said! It's truly comedic to see someone so ignorant broadcasting his intellectual limitations for all to see with such vigor. You are a stunning example of the Dunning-Kruger principle in action.

omohayek:

You're laughable in your limited intellect. Did you miss the bit about climate change? Were you asleep when the UK signed up to ambitious climate-change targets at the G7 summit? Do you realize that the UK plans to have half of all cars be electric by 2030, and that diesel cars will be banned by then?

https://www.autoexpress.co.uk/news/353804/half-uk-cars-must-be-electric-2030-meet-climate-change-goals

https://edition.cnn.com/2020/11/18/business/diesel-petrol-ban-uk/index.html

https://www.bloomberg.com/news/articles/2021-05-18/u-k-aims-to-secure-g-7-pledge-to-end-subsidies-for-fossil-fuels

How exactly does all of this mesh with major subsidies for diesel in your cramped little mind? Worse yet is that you don't even bring a single reference to the table to buttress anything I've said! It's truly comedic to see someone so ignorant broadcasting his intellectual limitations for all to see with such vigor. You are a stunning example of the Dunning-Kruger principle in action.

your BRAIN is full of Diesel, you claimed my statement about the UK govt subsidy on Diesel was FALSE and you are here talking out of context and jumping into an argument you never started.I got no clue where you lot jump from, what you posted says 2022 and we are in 2021 or can you bludy read
With the POSt you pasted cant you see where it also said if the subsidy was removed, it would be replaced by something else?
Pls go and learn how to raise ur argument instead of making a complete muckery of ur education!

Stealing the remnant

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Buhari and the Nigerian politicians are the true meaning of corruption.