Yemi4real3:
Clone president

Charmingrascal:
Lol

Zombies will still come and defend him and give reasons why he should remove the subsidy.

If Buhari dares to increase fuel price to 300+ as proposed.
ENDSARS protests will be small compared to what will happen

backbencher:


The painful thing is that if we had removed the thing in 2012, by now we would have been enjoying the benefits , and we would have been over the worst. Plus we had higher oil prices in 2012, meaning that there would have been enough cash to pay the poor to help them prosper.


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sulaak:


If Nigeria deregulates the oil industry and removes oil subsidies, the higher oil price at $80 per barrel will increase the pain to Nigerians.

The subsidy was supposed to cushion the blow of high oil prices to Nigerian consumers. Cooking Gas and Kerosene have both been deregulated and subsidies removed, yet the price of cooking gas and kerosene is still high due to the international cost of gas and oil.

The only option is to keep subsidies, but subsidies local oil refinery production(if we can get them working) or else Nigeria will be forced to pay a high cost of energy consumption, with the unintended consequence of climate and environmental destruction, forcing Nigerians to depend on illegal refineries, charcoal and our limited supply of trees.

backbencher:


Or we can remove subsidy, which means more investment in private refineries, which means that market forces will bring down the price of fuel with increased production domestic

Your idea makes sense, but the problem is the money that would be used to pay for the subsidy comes from crude oil revenue ,which at current prices cannot find our budget effectively talkless of subsidies

Plus when oil prices rise, the cost of subsidy would rise. And take money away from other sectors. Meanwhile no one would want to build refineries and operate it at a loss or sell crude oil at a loss to refineries.