Ofunaofu:


That it worked in GSM sector, is not a guarantee that it will work in petroleum sector.
Okay, let use the desiel for example, it has been deregulated but the price yet to come down. Nigeria is one country that basic economic principles don't seem to work in.
Hmmmm well, I am here to learn

Alexsmith007:
This country u mentioned don't have the oil we have so u should expect price to be very high there

Kraytur:
Corruption has eaten the economy deep

The lapses of deteriorated funds has started to show

Subsidy is a way of introducing a form of pms tax

And another way to level the field

We produce crude FGS

We should enjoy it’s dividends

And not have to suffer Price hike because of the outcome of corruption by wicked leaders who’ve sucked the economy dry

Spits

Beancounter94:


So the goverment should continue spending money on fraudulent subsidy?

So thay we can continue to get into more debt?

amc:


The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure.

It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are wasting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices.

DukeNija:


And you were told that subsidy plunged this country into debt? Was that what your pay master informed you? Fuel has been subsided in Nigeria since 1973 so it has little to do with our debt profile compared to the kangaroo projects your leader has been borrowing from China to execute in the last 6 years.

amc:


Standard of living and opportunities are better in Cameroon, Chad, Niger, Benin, Togo etc? Tell us

amc:


The volume of car users to the other users is like 80% to 20% in favour of cars. We are mostly subsidising car users.

If we were a rich country, we wouldn’t be having this discussion. But Nigeria can’t afford to subsidise petrol anymore until we increase our revenue significantly.

And like I said, the effect would be hard on the populace in the short term but we will reap the benefits in the medium to long term.

Uselessmanna:
Hope the bastard and his second imbecilic nlpolicewoman buys for this amount too.

ityP:



Lmao. Una sef. Na same nonsense una talk about closing borders o. When will you people have sense? When will you realize that even with subsidy out of the way, the money will still be stolen and eaten by politicians, all to the detriment of the poor? Guy, suffer no dey tire you? God forbid

Whiteangel1234:
enjoy the change . how can any sane human being vote for Buhari bikonu ? i'm marvelled

Nuelito:
we can't compare the standard of living in those countries to that of Nigeria...

There are better opportunities over there than here.

But correct me if am wrong.... am ready to learn from you sir

Beancounter94:


Subsidy is not a tax, not as practiced in Nigeria

Basically, a subsidy is what you pay to compensate the oil industry for selling fuel below the cost of what it takes to produce one liter of petrol from crude.

The problem is, overtime the cost of refining fuel rises, meaning you have to pay higher and higher to subsidize it. And no matter how you try you cannot cover the resulting loss. Which is why many countries that subsidies have problems funding refinery repair or new refinery projects (Nigeria, Venezuela and even Iran are good examples)

Here in Nigeria, subsidy comes from the revenue we earn from selling crude oil , which is never high enough for our needs because of our large population. SO we have to use a rising amount of money to pay for subsides, instead of paying for education, health, etc. (The money we spent on subsidy in one year can enroll 1 million Nigerians on NHIS). Meanwhile, falling oil prices make matters worse.

And because we don't have enough refining power at home...because of subsides chopping any money that would have been spent on refineries if there was no subsidy...we keep on pouring even more and more money.

Since 1993, NIgeria has been warned severally to remove subsides. Each time, the people have said no.

Joe4real1988:
Bro let me ask you, is it only car that uses fuel? How about Okada(T.F will increase), keke(T.F will increase), Salon(price will increase). Bro the effect is not gonno be only on car owners, but on all of us. Reason am na.

philip0906:


You zombies don't think. The average Nigerian doesn't own a car BUT every Nigerian has a generator that needs to be powered by fuel as we provide electricity for ourselves.


Tell me one policy implemented by this worthless regime that has ever worked, short term or long term? The government shutdown borders because they claimed PMS was smuggled. How did that work? Aside a hike in commodities and inflation, what other benefit did that thoughtless policy yield? You're still talking about PMS being smuggled, when border was shut down for almost a year.

Keep fooling yourselves.

blinking001:

Speaking from an economic point of view you're totally wrong. Can't you see that this single act by the government can lead to inflation? Who suffers most when there's inflation?

Okoroawusa:

So the standard of living in Niger, Chad, Benin Republic is higher than in Nigeria?

Kraytur:


Good response but you seem to have left out the bad economy and the corruption


More to say how tf did we get here

And what can be done

Okoroawusa:

So the standard of living in Niger, Chad, Benin Republic is higher than in Nigeria?

hstar:

The masses

saintruky:



Bros those countries u quote get refineries? Abi dem get oil?

Beancounter94:


Nigeria has a bad economy because we sell our resources rather than use them to make industrial products we can export.

Has been that way since independence.

The problem with that is that the price for our resources is always not high enough to earn a revenue that can sustain us, which is why we end up taking loans (and we have been taking loans for decades.)..when the price is too low to sustain us.

Running an economy selling raw materials encourages people to use the revenue to import...meaning not enough industries...meaning job creation is bad, meaning that people compete for the very limited government jobs available (which is why we have so much inordinate focus on which tribe gets which jobs from the lowest to highest...and why we have federal character)

As for corruption, when the money from governance is not coming directly from taxes...but from selling the resources and sharing the money, he who controls the sharing of the money has a lot of power...which explains our civil war , two failed attempts at democracy, the bad religious crisis, the ethnotribal crisis, and even the class war. And a lot of corruption. And a lot of the fighting for president, governor, even local dog catcher. It also explains why hundreds of people died and were displaced in 2011, why we had two pogroms in 1966, and before that why the South west was burning in 1965...because he who controls the sharing controls a lot of things...including who benfits from the crumbs.

That's why someone like me does not like APC, PDP, or any of the parties, or the power brokers in Nigeria. They are not ready to change the current way we do things. Even when it was clear it wasn't working.