Kobonaire4:


Well, all our problems begin with fuel being brought into the country at N510 and sold at N180 per liter.

Better read what a subsidy entails too.

Everything in Nigeria is inflated. Is only in Nigeria the biro can be bought for hundreds of millions of naira.

Is only in Nigeria that grasses can be cut for hundreds of millions of naira.

Is only in Nigeria that old currency can be destroyed with billions of naira.

Why couldn't they fix the refineries for these seven years? Because they are benefiting from the so called subsidy regime.

I think we should start stoning this government when they come to campaign in our states. They are very very very wicked and unreasonable.

Ken4Christ:


Everything in Nigeria is inflated. Is only in Nigeria the biro can be bought for hundreds of millions of naira.

Is only in Nigeria that grasses can be cut for hundreds of millions of naira.

Is only in Nigeria that old currency can be destroyed with billions of naira.

Why couldn't they fix the refineries for these seven years? Because they are benefiting from the so called subsidy regime.

I think we should start stoning this government when they come to campaign in our states. They are very very very wicked and unreasonable.

Omo, nothing in Nigeria is inflated. It is we who think that things are supposed to be cheap.

The truth is, there are a lot of things in this country that are not functioning well because we are not paying well for them

GSM dey work because we pay the price that the companies set. We have no refineries, and annual scarcity since as early as the 1970's even since 1990...because we pay for petrol below the price it costs, and pretend that that is how much it costs, while we use money we could have used for other things to subsidsie it, and take loans to cover up the resulting deficit.

As for grass and so on...that falls under inflated government cost. Has nothing to do with subsides, and with how we pay for petrol.

Pay the market price of petrol, and we will have working refineries like Niger Rpeublic...who is poorer than us, yet paysN350 for fuel, and has a working refinery that even exports fuel self. All because they pay market price, and their government does not subsidise fuel.

Kobonaire4:


Omo, nothing in Nigeria is inflated. It is we who think that things are supposed to be cheap.

The truth is, there are a lot of things in this country that are not functioning well because we are not paying well for them

GSM dey work because we pay the price that the companies set. We have no refineries, and annual scarcity since as early as the 1970's even since 1990...because we pay for petrol below the price it costs, and pretend that that is how much it costs, while we use money we could have used for other things to subsidsie it, and take loans to cover up the resulting deficit.

As for grass and so on...that falls under inflated government cost. Has nothing to do with subsides, and with how we pay for petrol.

Pay the market price of petrol, and we will have working refineries like Niger Rpeublic...who is poorer than us, yet paysN350 for fuel, and has a working refinery that even exports fuel self. All because they pay market price, and their government does not subsidise fuel.

You certainly don't know what is happening in government. Who told you that GSM is charging rates commensurate with its services? It's one of the cheapest service in Nigeria.

You have so soon forgotten that sim card cost as much as 40,000 naira when it first came.

In Nigeria government system, prices are inflated more than 20 times the actual price.

Have you forgotten that the budget to renovate national assembly was put at 37 billion naira? Meanwhile, it was built for 7 billion naira.

Even with the rate of inflation, that figure is outrageous.

If we bring foreign companies to audit the process of importing refined products, you will be shocked to find out that it can be five times cheaper than what they spend.

You are probably still very young and inexperienced. Ask those in the government circle what goes on inside, they will tell you better.

Our generated revenue in virtually all sectors is far more than what is usually declared.

Corruption is eating us up.

Ken4Christ:


You certainly don't know what is happening in government. Who told you that GSM is charging rates commensurate with its services? It's one of the cheapest service in Nigeria.

You have so soon forgotten that sim card cost as much as 40,000 naira when it first came.

Yes, and the increased investment...which happened because GSM companies were allowed to set their prices, enabled them to build more facilites and afford to bring down prices.

That's how investment works. More money in, the better and cheaper it becomes for the common man.

But we won't do that with our oil industry...which is why we are where we are.
In Nigeria government system, prices are inflated more than 20 times the actual price.

Have you forgotten that the budget to renovate national assembly was put at 37 billion naira? Meanwhile, it was built for 7 billion naira.

Even with the rate of inflation, that figure is outrageous.

Nope.

Once, Oyedepo, the bishop and GO of Living faith, when explaining why he charged high fees stated quite simply...Government does not give me money at all.

All those antenna and cable that make GSM run was buiilt on charging 'grossly inflated fees' as you put it. If it was N10 for a sim and 1 kobo for an international call then, there would be very bad service.

You want good serivice, pay highly for it. You think it is high, they know it as the cost of doing business. Nigeria had no ifrastructure for GSM as at 2001. Now we have because we paid high prices for it.

Note that Government was not giving them money.

In Nigeria government system, prices are inflated more than 20 times the actual price.

Have you forgotten that the budget to renovate national assembly was put at 37 billion naira? Meanwhile, it was built for 7 billion naira.

Even with the rate of inflation, that figure is outrageous.

Do you know what it would have actually cost to renovate the national assembly? Because at the end, making claims without proof does one no good.

Plus NA was built in 1999...7 billion would be, accounting for inflation, about 20 or 30 billion(my crude estimate)

Also, a lot of extension work has been done since then. In the first ten years, more office space was added for senators and house of reps after the space originally was not enough.

If we bring foreign companies to audit the process of importing refined products, you will be shocked to find out that it can be five times cheaper than what they spend.

LOL...it won't be.

1.Environemntal regulations are pushing up the costs

2.Transport costs went up this year...because of rising oil prices pushing up the cost of fuel needed to power the boats and the tankers.

3.It also costs a lot to transport fuel in Nigeria. Trucks run on diesel..and diesel rose because it is not subsidsied.

At the end, if you want cheap fuel...maybe wait till crude is less than 20 dollars a barrel....
You are probably still very young and inexperienced. Ask those in the government circle what goes on inside, they will tell you better.

Our generated revenue in virtually all sectors is far more than what is usually declared.

Corruption is eating us up.

[/quote]

No, our generated revenue, even if we were producing at full strength, and no looting...at 1.5 m barrels per day, would yield 100bn dolalrs per annum...which is not enough for a nation our size.

We have to use some of that to pay debts...which we incurr when oil prices go down below 100 dollars per barrel. And from 2014-2021, oil was persisitently below what we needed it to be to earn enough for a balanced budget (And APC's response was to take more loans instead of diversifying the economy...sigh).

Also, we don't take enough in tax. Our tax to gdp ratio is very low...8.1%. The sane nations we run to have tax to gdp ratios of 30% and above. As at 2019, less than 30% of taxable adults were paying tax. That puts pressure on our income

At the end, add looting, and corruption, and the problem is bad.

And yet, we keep on spending on subsides, and taking loans to cover the resulting deficit in the budget...meanwhile subsidy costs cannot cover the amount needed to keep NNPC from losing money....

Kobonaire4:


Yes, and the increased investment...which happened because GSM companies were allowed to set their prices, enabled them to build more facilites and afford to bring down prices.

That's how investment works. More money in, the better and cheaper it becomes for the common man.

But we won't do that with our oil industry...which is why we are where we are.
In Nigeria government system, prices are inflated more than 20 times the actual price.

Have you forgotten that the budget to renovate national assembly was put at 37 billion naira? Meanwhile, it was built for 7 billion naira.



Nope.

Once, Oyedepo, the bishop and GO of Living faith, when explaining why he charged high fees stated quite simply...Government does not give me money at all.

All those antenna and cable that make GSM run was buiilt on charging 'grossly inflated fees' as you put it. If it was N10 for a sim and 1 kobo for an international call then, there would be very bad service.

You want good serivice, pay highly for it. You think it is high, they know it as the cost of doing business. Nigeria had no ifrastructure for GSM as at 2001. Now we have because we paid high prices for it.

Note that Government was not giving them money.




Do you know what it would have actually cost to renovate the national assembly? Because at the end, making claims without proof does one no good.

Plus NA was built in 1999...7 billion would be, accounting for inflation, about 20 or 30 billion(my crude estimate)

Also, a lot of extension work has been done since then. In the first ten years, more office space was added for senators and house of reps after the space originally was not enough.




LOL...it won't be.

1.Environemntal regulations are pushing up the costs

2.Transport costs went up this year...because of rising oil prices pushing up the cost of fuel needed to power the boats and the tankers.

3.It also costs a lot to transport fuel in Nigeria. Trucks run on diesel..and diesel rose because it is not subsidsied.

At the end, if you want cheap fuel...maybe wait till crude is less than 20 dollars a barrel....
You are probably still very young and inexperienced. Ask those in the government circle what goes on inside, they will tell you better.



No, our generated revenue, even if we were producing at full strength, and no looting...at 1.5 m barrels per day, would yield 100bn dolalrs per annum...which is not enough for a nation our size.

We have to use some of that to pay debts...which we incurr when oil prices go down below 100 dollars per barrel. And from 2014-2021, oil was persisitently below what we needed it to be to earn enough for a balanced budget (And APC's response was to take more loans instead of diversifying the economy...sigh).

Also, we don't take enough in tax. Our tax to gdp ratio is very low...8.1%. The sane nations we run to have tax to gdp ratios of 30% and above. As at 2019, less than 30% of taxable adults were paying tax. That puts pressure on our income

At the end, add looting, and corruption, and the problem is bad.

And yet, we keep on spending on subsides, and taking loans to cover the resulting deficit in the budget...meanwhile subsidy costs cannot cover the amount needed to keep NNPC from losing money....

You writing is too long. Don't you know how to summarize points.

GSM is cheap because there are competitors.

Remove oil from exclusive list, let states own refineries and then deregulate. You will see how cheap petroleum products will be.

Do you think crude oil sales is the only source of revenue? They claim it's the major source because they under report revenues from other sources.

Do you know how much the country generate from NPA alone?

Do you know the revenue Lagos state alone generate without oil?

If you know how criminal minded our leaders are, you won't be saying all these.

Recently, 70 Trillion Naira was traced to just a few people hidden in some banks in Nigeria. Where do you think the money came from. That is our budget for about 5 years.

Ken4Christ:


You writing is too long. Don't you know how to summarize points.

GSM is cheap because there are competitors.

Remove oil from exclusive list, let states own refineries and then deregulate. You will see how cheap petroleum products will be.

Crude oil sales is the only source of revenue. They claim it's the major source because they under report revenues from other sources.

Do you know how much the country generate from NPA alone?

Do you know the revenue Lagos state alone generate without oil?

If you know how criminal minded our leaders are, you won't be saying all these.

Recently, 70 Trillion Naira was traced to just a few people hidden in some banks in Nigeria. Where do you think the money came from. That is our budget for about 5 years.

Oga we need an economy that is making 300 trill ion naira a year.

That can only be done by being free market and industrialisation

And it starts by removing subsidy

If you love subsidy so much then you better cut your prices as a businessman to help the poor.

Good evening, and read my post. And run for office

APCshit

So some Nigerians are still sounding surprised... Nigerians were warned.. The milk don spill tey tey..

Another opportuniity na next month..

Nuff said..

Kobonaire4:



Oga we need an economy that is making 300 trill ion naira a year.

That can only be done by being free market and industrialisation

And it starts by removing subsidy

If you love subsidy so much then you better cut your prices as a businessman to help the poor.

Good evening, and read my post. And run for office

Let them fix our refineries first. The importation of fuel is a criminal act designed to enrich some people and make those who own the oil perpetually poor.

You can't see beyond your nose. These northern leaders have an agenda. They are using their political power to gain control over the revenue from oil and deprive the region the oil is produced the same opportunity.

So, making the refineries dysfunctional is deliberate act. We have lots of PhD holder and professors from the south who can't read between lines.

So, fixing the refineries is not in their agenda because the present system is making some of them very rich. Some of the refineries they import the fuel from might even be owned by them.

Kobonaire4:
Am bacck.

Okay, several things from this report

1.It is clear and has been clear...if you want an end to LONG LINES, FUEL SCARCITY, even NO REFINERIES.......let us be honest....SUBSIDY MUST GO. THE MARKET MUST SET ITS PRICE. Yeah, we will buy fuel at least at N600, and cars would be freely available (yes)...but at the end, it would, as the experts said...


2.APC government has been a mess on the subsidy issue. They won't deregulate. So also their opponents...they too are opposed to deregulation.


At the end, remove subsidy, allow the market to be free...and there will be no more queues.

There is no such thing as cheap fuel. It costs money, it costs money, it costs money.



Anyone quoting me to cry about the death of subsidy should do well to google for the article...Fuel subsides: The Conversation. After months of arguing with Nigerians about subsidy, I have decided to stop doing so, and just post my ideas. If you can't read...so be it.

Your continued rhetoric on subsidy removal is quite misleading.

As much as removing subsidy is germane, there are other pertinent issues that if not resolved, removing subsidy will not guarantee availability of products or its widespread affordability.

In this post, it has been said how illegal fees are being collected, how the destroyed pipelines have led to additional costs of transportation, even how the unchecked rise in diesel prices have also impacted on fuel prices... if the above remain unresolved, subsidy would have no effect other than government having more money for itself to loot.

There is also the question of how many litres of fuel do Nigerians actually consume a day? The authorities keep touting figures in the excess of 60 million litres a day as a way to justify its corrupt practices. Various knowledgeable persons, even in this same government, have pointed out the fallacy of that figure.

There is also the issue of mismanagement of the financial resources which has led to the ridiculous exchange rate we have today.

In short, there are so many other things to be done before the benefits of full deregulation can be enjoyed.

Your position on subsidy removal as the 'gbogbonise' solution is, to say the least, shallow & simply seeks to absolve this administration of its own glaring incompetence.

ivandragon:


Your continued rhetoric on subsidy removal is quite misleading.

As much as removing subsidy is germane, there are other pertinent issues that if not resolved, removing subsidy will not guarantee availability of products or its widespread affordability.

In this post, it has been said how illegal fees are being collected, how the destroyed pipelines have led to additional costs of transportation, even how the unchecked rise in diesel prices have also impacted on fuel prices... if the above remain unresolved, subsidy would have no effect other than government having more money for itself to loot.

There is also the question of how many litres of fuel do Nigerians actually consume a day? The authorities keep touting figures in the excess of 60 million litres a day as a way to justify its corrupt practices. Various knowledgeable persons, even in this same government, have pointed out the fallacy of that figure.

There is also the issue of mismanagement of the financial resources which has led to the ridiculous exchange rate we have today.

In short, there are so many other things to be done before the benefits of full deregulation can be enjoyed.

Your position on subsidy removal as the 'gbogbonise' solution is, to say the least, shallow & simply seeks to absolve this administration of its own glaring incompetence.

No problem. We will just keep paying for petrol at the world bank, at their terms.