Ayomipoe:
I think this is a naive opinion. You should't borrow to pay subsidy on Gasoline, wherein a significant proportion of it is exported to neighbouring countries. Nigeria has the lowest gas prices in West Africa and we are a smugglers paradise.
Soon the borrowing will be impossible without fiscal cut, very steep ones unlike those we have ever seen.

let the government do it's job and curtail smuggling. Honestly we the masses should not be made to take the fall for government wastes.

Many years ago, government was wasting money and doing nonsense until now they're broke, they want to remove subsidy without alternative. All of us were here when this administration promised one refinery a year and it has been eight years with nothing. The signed MoU on revamping old one when experienced people were saying it was better to build new ones.


Like I said, government should borrow and if they can not borrow again, let them cut their big salaries to pay subsidy until they provide alternative

Karlifate:


It is generally agreed that the removal of subsidies is a key factor in the success of the U.S. economy.
However, the substitution of lower-cost alternatives has sometimes been seen as a more efficient way of doing things.

This is not a change in the substance of the rule, but rather a way of saying that the main goal of the rule is no longer to remove subsidies, but to reduce the number of subsidies. 👌

that's not before the government provides cushioning system to enable the masses survive. Subsidy has been removed from diesel and kerosene but not a single thing to show for it.

Government is supposed to make life easier for the masses and not the masses making life easier for the people in government.

Petrol at almost ₦800 and you still to run the economy on generator,how do you want the masses to adjust

Yeah, since it is the Govt itself that is responsible for these fiscal cuts. At the end of the day, it is still the masses that are most affected.
You can argue that our government does not already do anything for us in the first place, it will curtail their purses. However, the future that awaits, even when Dangote brings his refinery online does not seem like a pleasant experience for the masses. Our Nigerian government has show over time that they would rather throw the citizenry under the bus than share the largess with them. Currently they are claiming they are giving monies (#5000) to some certain people, I have not seen even a single recipient.

michlins:
let the government do it's job and curtail smuggling. Honestly we the masses should not be made to take the fall for government wastes.

Many years ago, government was wasting money and doing nonsense until now they're broke, they want to remove subsidy without alternative. All of us were here when this administration promised one refinery a year and it has been eight years with nothing. The signed MoU on revamping old one when experienced people were saying it was better to build new ones.


Like I said, government should borrow and if they can not borrow again, let them cut their big salaries to pay subsidy until they provide alternative

DeepSight:


They ought to have ensured they fix the refineries before removing any subsidy. Why has fixing the refineries become such an impossibility? ? ?

There's not even any serious discussion on the matter of fixing refineries.

The solution to the problem is all so obvious yet the brains behind the rickety train called Nigeria seems not to have noticed it.

SMH

lessonotes:
The date will still come, but proper planning needs to go into it.

Steps they're taking or have taken:

1. Increase salary for Civil Servants by 40%. See here - https://www.nairaland.com/7662728/fg-begins-payment-40-salary
2. How can they pay this salary increase and still be paying subsidy, quickly they increased VAT on Beer, Plastics, Tokunbo cars etc. See here - https://www.nairaland.com/7672639/fg-introduces-new-taxes-beer
3. FG to pay N5,000 to 10m households for 6 months. See here - https://www.nairaland.com/7656340/subsidy-palliative-fg-pay-n5000

World Bank has advised that there will be chaos when removed and advised against immediate removal without proper steps and implementation already on ground to cushion the effect, and also they gave FG $800m to this effect. See here - https://tribuneonlineng.com/subsidy-fg-gets-800m-from-world-bank-for-palliatives/

Happy New Month.

Remember, Jesus Christ the same yesterday, and to day, and for ever. Heb 13 v 8

Removing subsidy without adquete preparation

Lol. So subsidy brings no benefit to the people according to this delusive Magnus.

Ayomipoe:
I think this is a naive opinion. You should't borrow to pay subsidy on Gasoline, wherein a significant proportion of it is exported to neighbouring countries. Nigeria has the lowest gas prices in West Africa and we are a smugglers paradise.
Soon the borrowing will be impossible without fiscal cut, very steep ones unlike those we have ever seen.

So in your own opinion, should subsidy be removed?

chrisxxx:
FG should put in place steady power supply prior to removing subsidy. Don't put the cart before the horse.
If it requires Tinubu selling Nigeria to China to have steady power supply let him do it. Thereafter he could remove subsidy and from the proceed of subsidy removal we can repay whatever loan taken to afford steady power supply.

I hope you know it's even loan we are using to pay subsidy. So it's not like there is any savings anywhere after subsidy removal. It just means the size of our loans reduces

GeneralPula:

So in your own opinion, should subsidy be removed?

Absolutely!!

Ayomipoe:
Yeah, since it is the Govt itself that is responsible for these fiscal cuts. At the end of the day, it is still the masses that are most affected.
You can argue that our government does not already do anything for us in the first place, it will curtail their purses. However, the future that awaits, even when Dangote brings his refinery online does not seem like a pleasant experience for the masses. Our Nigerian government has show over time that they would rather throw the citizenry under the bus than share the largess with them. Currently they are claiming they are giving monies (#5000) to some certain people, I have not seen even a single recipient.

these are the issues. Until they're forthcoming with the truth, subsidy should remain. If we check well, they're not probably paying subsidy to the extent they claim.

Another thing is why dash ₦5,000 when there are major issues to fix

Fuel subsidy, inevitably is not sustainable. It has to be removed. Yes the ripple effects in the short term would be disastrous for any Government of the day, the instability that it will cause continues to make it a scary disease that we just want to continue managing.
However, it has to be removed. The process is not transparent, NNPL cannot continue to be a regulator and a player in the game. Not to mention that it is the sole importer of gasoline, it's almost as though they are waiting for Dangote to come online then it transitions to a regulator.
It is in my opinion that even when Dangote comes online, it might be cheaper to import than to buy from him. However, Alahji Putin (https://medium.com/@doubleeph/alhaji-putin-s-republic-a07381caec18) will not allow anyone threaten his monopoly. He is after all coming as our fuel messiah.

GeneralPula:

So in your own opinion, should subsidy be removed?

Bubu, claimed the 5000 is for social intervention programs.
They need to borrow money, we are not generating money. Sooner or later, we would face the decision of cuts. Supposedly increasing the salaries, with no income, CBN stooge is just printing and printing. Inflation will worsen year on year and if they continue down this path, all we would have is worthless paper. I don't even trust the banks anymore (minimal exposure to them, no Naira savings or USD DOM account), I am just living my life with the expectation that all will go to hell and mostly the rich will exploit the situation to their benefit.

michlins:
these are the issues. Until they're forthcoming with the truth, subsidy should remain. If we check well, they're not probably paying subsidy to the extent they claim.

Another thing is why dash ₦5,000 when there are major issues to fix

Actual value of the fuel is between 450 and 1000

chicoMX:
A litre of fuel is sold for over #200..


And them never still remove subsidy! Omo

The President wey go remove subsidy go be the last Nigerian president .

Dem still dey feed most of Una wey Dey yarn say make comot am, unless your papa get money or you're financially stable, hunger go blind una eyes, ppl go lose their jobs.

Lastly, lack of trust in this shitty government cos they will end up looting the money. Make dem fix the refineries first... Dem for don allow GEJ do am back then, we go don adjust not now wey buhari don send us back to stone age. Larger percentage of the Nigerians are suffering, chronic poverty dey this country.

Jokerman:
Put things in place before you remove fuel subsidy.

I remember my discussion for removal in the Naijaryders forum that was about 16 / 17 years ago. So we need another 20 years to put things in place? Goodluck Nigeria but remember the world is not waiting for you!.

The moment dangote visited the incoming at defence hq, I knew this would happen. We move!

lessonotes:
The date will still come, but proper planning needs to go into it.

Steps they're taking or have taken:

1. Increase salary for Civil Servants by 40%. See here - https://www.nairaland.com/7662728/fg-begins-payment-40-salary
2. How can they pay this salary increase and still be paying subsidy, quickly they increased VAT on Beer, Plastics, Tokunbo cars etc. See here - https://www.nairaland.com/7672639/fg-introduces-new-taxes-beer
3. FG to pay N5,000 to 10m households for 6 months. See here - https://www.nairaland.com/7656340/subsidy-palliative-fg-pay-n5000

World Bank has advised that there will be chaos when removed and advised against immediate removal without proper steps and implementation already on ground to cushion the effect, and also they gave FG $800m to this effect. See here - https://tribuneonlineng.com/subsidy-fg-gets-800m-from-world-bank-for-palliatives/

Happy New Month.

Remember, Jesus Christ the same yesterday, and to day, and for ever. Heb 13 v 8

Are you a Redeemer?

Ayomipoe:
I think this is a naive opinion. You should't borrow to pay subsidy on Gasoline, wherein a significant proportion of it is exported to neighbouring countries. Nigeria has the lowest gas prices in West Africa and we are a smugglers paradise.
Soon the borrowing will be impossible without fiscal cut, very steep ones unlike those we have ever seen.

We all know thus but our fear is that if subsidy is done in a haste the country would implode. Why do you think Buhari didn't remove it? What will happen will be 3 times of that with the ill-thought cashless policy during the election. Anyone who removes subsidy would have a largesse to look from that's why subsidy removal should only be handled by someone who atleast has some trust with funds — that person is not Tinubu! He's scared he may not be re-elected with the new found hardship and chaos he must have thrown Nigerians into. Would you mind paying #500 for fair that used to be #100? The consequences would be too much, I mean much more than the problem of racketeering of oil products across the border that we're trying to fix.

chicoMX:
A litre of fuel is sold for over #200..


And them never still remove subsidy! Omo

The tricky thing about this subsidy of a thing is that we're expecting fuel prices to be around #500–600/ltr. This is the same prices we had when there was scarcity of if months ago with about 50-100% increase in fares but when subsidy is permanently removed its gonna be worse. My point is that the country is already in distress but greed amongst ourselves isn't helping. Market women aren't helping us at all, they want big profit margins for each sale they make sighting increase in cost price which isn't always the case. When they do this the transporters would be left with no other option than to increase prices too. Whether subsidy is removed now or later its not gonna be easy, tough times ahead.

Get sense my brother,if not postponed Labour might disturb handing over program with their usual threat for protest ..wise up

Frankly, I agree on some of the points.
Personally, I don't mind paying 5 times the previous price as a result of a new Government policy. The reluctance and the pain comes from where we know these resources they claim are saved as a result of the hardship inflicted upon me, are mismanaged. The benefits, never reaching the bottom.
I have nothing personally against Tinubu. I believe actions speak louder than words, I will wait and see what he does.
As time does go on, I gain a deeper understanding of this our special nation Nigeria, the supposed Cabal, does truly exist, and their interests will be protected. In the short term, it will be impossible to secure the borders, Bubu's policy of no fuel sold 20km to the border. As long as there is profit to be made, there will be risk-taking entrepreneurs and willing saboteurs.

Tinubu cannot remove the fuel subsidy, at least not in his first term. It will take a brave Govt with nothing to lose.

ben1daEbiri:


We all know thus but our fear is that if subsidy is done in a haste the country would implode. Why do you think Buhari didn't remove it? What will happen will be 3 times of that with the ill-thought cashless policy during the election. Anyone who removes subsidy would have a largesse to look from that's why subsidy removal should only be handled by someone who atleast has some trust with funds — that person is not Tinubu! He's scared he may not be re-elected with the new found hardship and chaos he must have thrown Nigerians into. Would you mind paying #500 for fair that used to be #100? The consequences would be too much, I mean much more than the problem of racketeering of oil products across the border that we're trying to fix.

Ayomipoe:
Frankly, I agree on some of the points.
Personally, I don't mind paying 5 times the previous price as a result of a new Government policy. The reluctance and the pain comes from where we know these resources they claim are saved as a result of the hardship inflicted upon me, are mismanaged. The benefits, never reaching the bottom.
I have nothing personally against Tinubu. I believe actions speak louder than words, I will wait and see what he does.
As time does go on, I gain a deeper understanding of this our special nation Nigeria, the supposed Cabal, does truly exist, and their interests will be protected. In the short term, it will be impossible to secure the borders, Bubu's policy of no fuel sold 20km to the border. As long as there is profit to be made, there will be risk-taking entrepreneurs and willing saboteurs.

Tinubu cannot remove the fuel subsidy, at least not in his first term. It will take a brave Govt with nothing to lose.

You get my point. When a thief is caught fellow thieves join hands to deliver jungle justice. Tinubu wouldn't want to remove subsidy yet as there's money to be made by importers, he wouldn't want to be the sacrificial lamb to suffer the backlash of a very angry and frustrated 200m people. Again I maintain that Tinubu can't be trusted with subsidy funds. Remember were talking about billions of dollars here. The effect of its removal may not reach the comman man. The big question is if the end justifies the means; for now the answer is NO. So many Nigerians wouldn't mind the hardship if the can reap the benefits of subsidy removal. It's a long way from here man and it's not going to be easy.

US economy is capitalist base, is of recent thy started introducing subsidy. Most agency in the US is run by the private sector apart from the food stamp and Obama care.and this is introduce to reduce poverty. One of the he govt excuse for removal of subsidy is some one is eating the money. If someone is eating the money is to punish Nigerians for it or arrest those who are behind it.

Karlifate:


It is generally agreed that the removal of subsidies is a key factor in the success of the U.S. economy.
However, the substitution of lower-cost alternatives has sometimes been seen as a more efficient way of doing things.

This is not a change in the substance of the rule, but rather a way of saying that the main goal of the rule is no longer to remove subsidies, but to reduce the number of subsidies. 👌