If really he's paying #40,000 as minimum wage in Edo state, then he remains the best governor in Nigeria at the moment
But as for the total subsidy removal, can't our leaders, specially the president put up the refineries in order or possibly build a working refineries to finally end this menace?

print more money

I don't understand, is it not subsidy they removed that made fuel to jump from 87 to 145..which subsidy again are they removing?The marabout wey hold Nigerians for this administration finish work sha!!This government has been removing subsidy every year..

ferry1:
If really he's paying #40,000 as minimum wage in Edo state, then he remains the best governor in Nigeria at the moment
But as for the total subsidy removal, can't our leaders, specially the president put up the refineries in order or possibly build a working refineries to finally end this menace?

One hundred brand new, functional refineries producing 1 billion liters of fuel per day WILL NOT SOLVE THE PROBLEMS in the fuel sector as long as government is legally obligated to pay fuel subsidies!!!! Why can't people understand this? Come on now, it's not that hard!

The problem is PRICING....price, price price! As long as the government keeps REGULATING PRICES, there will always be periodic scarcity, smuggling of petrol, accummulated losses in government accounts, massive corruption.

PRICE REGULATION and subsidies is the main reasons why Federal Universities are always in crisis and producing half baked graduates, that's why there's scarcity of electricity, it's also responsible for the absence of piped water in over 90% of Nigerian homes.

Whenever government regulates prices of any product or service, the result is ALWAYS scarcity, low quality, corruption and waste and that is the case in EVERY COUNTRY in this world.

Sheesh!

You are worse than APC. You are helping to wash APC to look clean.

nairalanda1:
1. Shows that APC has failed in diversifying the economy

2.Having said that, the man is right.

The problem with fuel subsides is simple. Let's use a hypothetical example.

A lot of Nigerians say that we should reduce fuel to N65 a liter. Well, in 2011, December, a liter of fuel was N65, while the landing cost was N99. So, we was paying N34 per liter of fuel.

Now, if we kept fuel at N65 a liter up to September 2022, when the landing cost was N500, we would have been paying about N435 per liter of fuel in subsidy.

Multiply that by our fuel consumption, then let's not forget that fuel consumption in 2011 is far less than fuel consumption now.

That means that all our budget money would go to subsidy plus more of our loans...

There is a reason why subsidy has to go.


(Obaseki is not in APC by the way).

nairalanda1:
1. Shows that APC has failed in diversifying the economy

2.Having said that, the man is right.

The problem with fuel subsides is simple. Let's use a hypothetical example.

A lot of Nigerians say that we should reduce fuel to N65 a liter. Well, in 2011, December, a liter of fuel was N65, while the landing cost was N99. So, we was paying N34 per liter of fuel.

Now, if we kept fuel at N65 a liter up to September 2022, when the landing cost was N500, we would have been paying about N435 per liter of fuel in subsidy.

Multiply that by our fuel consumption, then let's not forget that fuel consumption in 2011 is far less than fuel consumption now.

That means that all our budget money would go to subsidy plus more of our loans...

There is a reason why subsidy has to go.


(Obaseki is not in APC by the way).

Oga, the problem is not removing fuel subsidy, but management of the government when it comes to money.

Don't be surprised that even after the subsidy removal we will still be having financial issue and unpayed salary. My point is that the money for this subsidy will still be embezzled.

Ok, the government is saying that workers salary will be increased to help them manage the effect of the subsidy removal without mentioning how to regulate price of goods and services.

Increasing purchasing power will increase demand which will lead to further inflation. Regulation of price of goods and services should also be look at.

MrPOTUS:




💩


People like u that probably don't pay bills are quick to say shit.

Let's use an average Nigerian as an example,

Do u expect a person to buy fuel for almost #1000 for his car, his generator at home and his generator for his business??

What did d govt do with the previous ones dey removed??

Y can't dey fix power, get train ready for conveying of goods, especially perishable ones.

This subsidy removal is going to cause hyperinflation, prices of food with triple, people can barely feed now, talk more of them.

Paid agent. SHameless

nairalanda1:
1. Shows that APC has failed in diversifying the economy

2.Having said that, the man is right.

The problem with fuel subsides is simple. Let's use a hypothetical example.

A lot of Nigerians say that we should reduce fuel to N65 a liter. Well, in 2011, December, a liter of fuel was N65, while the landing cost was N99. So, we was paying N34 per liter of fuel.

Now, if we kept fuel at N65 a liter up to September 2022, when the landing cost was N500, we would have been paying about N435 per liter of fuel in subsidy.

Multiply that by our fuel consumption, then let's not forget that fuel consumption in 2011 is far less than fuel consumption now.

That means that all our budget money would go to subsidy plus more of our loans...

There is a reason why subsidy has to go.


(Obaseki is not in APC by the way).

Roadside analyst. You are shouting all our money all our money as if it isnt being stolen recklessly.
Let the stolen portion be stopped. The wasted portion also should be stopped. Then subsidy can be questioned if the fiscal pressure persist.

nairalanda1:
1. Shows that APC has failed in diversifying the economy

2.Having said that, the man is right.

The problem with fuel subsides is simple. Let's use a hypothetical example.

A lot of Nigerians say that we should reduce fuel to N65 a liter. Well, in 2011, December, a liter of fuel was N65, while the landing cost was N99. So, we was paying N34 per liter of fuel.

Now, if we kept fuel at N65 a liter up to September 2022, when the landing cost was N500, we would have been paying about N435 per liter of fuel in subsidy.

Multiply that by our fuel consumption, then let's not forget that fuel consumption in 2011 is far less than fuel consumption now.

That means that all our budget money would go to subsidy plus more of our loans...

There is a reason why subsidy has to go.


(Obaseki is not in APC by the way).

Why are our refineries not working? Seeing as the landing cost is so high, why not prioritize refining our own crude oil? The cost of having to subsidize petroleum products should not be the case if our refineries were working.

Even in the case of selling off our crude oil, we are not able to generate enough revenue. Our Excess Crude Account is empty at this moment. Also, imagine not being able to locate a point of vandalism on the crude pipeline for 9 whole years! A whole lot has to be done.

Godmann:



Paid agent. SHameless

Olofo.

Too dumb to handle the truth.

nairalanda1:


Grow up, dear lad.

Till u start paying bills, you've no right to speak.

4tomandchi:
So who is spreading fake news about salaries increase

Nigeria don turn to Cruze

the president increased salaries because he knows he would not be the one who will bear the burden of paying it.

ferry1:
If really he's paying #40,000 as minimum wage in Edo state, then he remains the best governor in Nigeria at the moment
But as for the total subsidy removal, can't our leaders, specially the president put up the refineries in order or possibly build a working refineries to finally end this menace?

he is, but not very strong in area of infrastructure.

APC guys, help us thank your Government for this wonderful achievement. It's part of what we have been saying. When you elect brainless people to position leadership, it is your head they will use for pepper soup.

If dem remove this thing hmm people go hear ham well oh. Sufferness go increase people go thief tire. Make we day buy fuel for #800 omo this suffer way I don day envisage go too full ground

Hahahahaha

MrPOTUS:



Till u start paying bills, you've no right to speak.

No, seriously, grow up.

You have no understanding of how a subsidy works.

lordtim001:

Why are our refineries not working? Seeing as the landing cost is so high, why not prioritize refining our own crude oil? The cost of having to subsidize petroleum products should not be the case if our refineries were working.

Even in the case of selling off our crude oil, we are not able to generate enough revenue. Our Excess Crude Account is empty at this moment. Also, imagine not being able to locate a point of vandalism on the crude pipeline for 9 whole years! A whole lot has to be done.

Price controls means no profits means issues with refineries.

RepoMan007:

Roadside analyst. You are shouting all our money all our money as if it isnt being stolen recklessly.
Let the stolen portion be stopped. The wasted portion also should be stopped. Then subsidy can be questioned if the fiscal pressure persist.

Ok, Bwana.

todugo:



Oga, the problem is not removing fuel subsidy, but management of the government when it comes to money.

Don't be surprised that even after the subsidy removal we will still be having financial issue and unpayed salary. My point is that the money for this subsidy will still be embezzled.

Ok, the government is saying that workers salary will be increased to help them manage the effect of the subsidy removal without mentioning how to regulate price of goods and services.

Increasing purchasing power will increase demand which will lead to further inflation. Regulation of price of goods and services should also be look at.

At the end of the day, either we pay for petrol at the pump, or we will pay for it at New York and Beijing.

Godmann:
You are worse than APC. You are helping to wash APC to look clean.

For saying that it is right to make a profit selling things...

Besides Buhari has not removed subsidy, and Tinubu may not remove subsidy.

But then again, you will bake bread at N1500 and sell it at N200 to help the poor....

akube34:
the problem isn’t the removal. The problem is they knew this day would come, why didn’t they put measures to reduce the hardship this would bring. Apc had eight to provide stable electricity dat would reduce the dependency on fuel, what did they do

Because for the past 40-50 years, we Nigerians have been lying to ourselves.

Now the truth has made the lying impossible to sustain.

Kind of like people cannot see how damaging subsidy is.

nairalanda1:
1. Shows that APC has failed in diversifying the economy

2.Having said that, the man is right.

The problem with fuel subsides is simple. Let's use a hypothetical example.

A lot of Nigerians say that we should reduce fuel to N65 a liter. Well, in 2011, December, a liter of fuel was N65, while the landing cost was N99. So, we was paying N34 per liter of fuel.

Now, if we kept fuel at N65 a liter up to September 2022, when the landing cost was N500, we would have been paying about N435 per liter of fuel in subsidy.

Multiply that by our fuel consumption, then let's not forget that fuel consumption in 2011 is far less than fuel consumption now.

That means that all our budget money would go to subsidy plus more of our loans...

There is a reason why subsidy has to go.


(Obaseki is not in APC by the way).

Who produces crude oil and has no single refinery?
What stops the refinery from being fixed?
Now all their focus is removing subsidy?

Fix the refinery and there will be nothing like subsidy.

Make una remove subsidy without refining una fuel for una country and see how suffering go go pro max.

Useless cursed country.

OChimex:


Who produces crude oil and has no single refinery?
What stops the refinery from being fixed?
Now all their focus is removing subsidy?

Fix the refinery and there will be nothing like subsidy.

Make una remove subsidy without refining una fuel for una country and see how suffering go go pro max.

Useless cursed country.

Well, when you have no profit coming in because people insist on selling fuel below what it costs to produce it for the last 40 years, and pay a subsidy that barely covers the loss....no wonder the refinereis break down.

You have to remove subsidy so that the market makes a profit enough to fix and operate refineries. Any other route is basically corruption and sabotage.

Another proof that the average Nigerian just works and slaves to feed the civil service, the very folks who in cahoots with politicians have ruined this country since independence. They already consume almost all income of state after debt servicing...., not enough, they want more and more... That is why the GDP is that low and poverty rife. Scant investment in productivity. Little consideration for the 95 percentile.

Increase all you want. Inflation will collect everything back with interest. Because looking out for only 5 percent of the population is nonsensical economics.

Nothing bad in removing subsidy but APC is an evil government. If we remove subsidy now and in 6 months time we are still not progressing dem suppose are3st all of them.

Lifewasgood:
Lies sponsored by IMF. Yes some Nigerians are gaining illegally from subsidy but the major beneficiaries of a removal are not Nigerians.

Thanks to the conditions placed on IMF and US loans fuel and other subsidies have to go.

The elimination of subsidy is taking place under the charitable guidance of the International Monetary Fund (IMF), which has long specialised in addressing international economic crises by increasing the misery of the poorest echelons of society.

The IMF do not want the poor to be able to purchase fuel, gas, bread or anything at all.

Kudos to Buhari for sticking to subsidy, its now left for the incoming administration to come up with ways to generate income instead of borrowing and printing money.

Subsidy ain't our problem, corruption is.

you are a very wise man u just xrayed Nigeria' problem in few words. We need critical thinking leaders

nairalanda1:


Well, when you have no profit coming in because people insist on selling fuel below what it costs to produce it for the last 40 years, and pay a subsidy that barely covers the loss....no wonder the refinereis break down.

You have to remove subsidy so that the market makes a profit enough to fix and operate refineries. Any other route is basically corruption and sabotage.

When the refineries were working, wasn’t subsidy there?

OChimex:


When the refineries were working, wasn’t subsidy there?

Yesh. But at the end of the day, the lack of profit that subsidy engenders led to the refineries breaking down.

Also, since subsidy means free money, it didn't take long for the people working the refineries to realize that they could get free money if the refineries did not work or not

(Kind of like one of my lecturers commenting back in the day, when we students were being a bit unruly, that he could sit in his office all day, and not teach us , and still get paid: He still taught us tho, lol.).

The problem with subsidy is that when government is setting prices and paying subsidy, at the end, it does not matter whether the refineries work or not, money will come.

Whereas if there was no subsidy, the refineries would work without sabotage BECAUSE....PAY ATTENTION....sabotage and bad work and corruption hampers their bottom line...profits.

That's why your MTN, GLO and Airtel work and Nitel...which was subject to the same price controls as our NNPC and refineries in the name of subsidy, collapsed.

The thing you guys who think I am promoting oppression don't get is .....for a refinery to work well, IT HAS TO MAKE A PROFIT ....to pay for upgrades, maintenance, keep qualified staff, attract more good staff, and build more refineries. SUBSIDY so does NOT allow them make a profit.

Get it.? If you don't, sorry.

Self-serving and grandstanding banter.

nairalanda1:


Yesh. But at the end of the day, the lack of profit that subsidy engenders led to the refineries breaking down.

Also, since subsidy means free money, it didn't take long for the people working the refineries to realize that they could get free money if the refineries did not work or not

(Kind of like one of my lecturers commenting back in the day, when we students were being a bit unruly, that he could sit in his office all day, and not teach us , and still get paid: He still taught us tho, lol.).

The problem with subsidy is that when government is setting prices and paying subsidy, at the end, it does not matter whether the refineries work or not, money will come.

Whereas if there was no subsidy, the refineries would work without sabotage BECAUSE....PAY ATTENTION....sabotage and bad work and corruption hampers their bottom line...profits.

That's why your MTN, GLO and Airtel work and Nitel...which was subject to the same price controls as our NNPC and refineries in the name of subsidy, collapsed.

The thing you guys who think I am promoting oppression don't get is .....for a refinery to work well, IT HAS TO MAKE A PROFIT ....to pay for upgrades, maintenance, keep qualified staff, attract more good staff, and build more refineries. SUBSIDY so does NOT allow them make a profit.

Get it.? If you don't, sorry.

Ppl also want subsidised lifestyles. They will never get it. Socialism sucks. Capitalism aka oppression rules