highoctane:

Government has nothing to do with businesses. Business should be given to competent individuals to run, they will then establish friendly tax laws, friendly policies to create enabling business environment.
Governments have no business in doing business.

I'm not talking about doing business. I'm talking about hasty removal of subsidy on day one in office. It is not a wise step

Iamzik:


I'm not talking about doing business. I'm talking about hasty removal of subsidy on day one in office. It is not a wise step

Are you aware, may be not that one of IBB policy is to remove fuel subsidy and liberalisation of trade. Olu Falae, Pat Utomi at least I can remember these two person vividly and other prominent Nigerians argued agresively against it. Been known as a Madonna got into the mix probably.

Oladeji245:

Till you’re banned

I still dey wait Oponu ayi rada

NgeneUkwenu:
"The fuel Subsidy is gone. It is unjustifiable.....we shall rechannel the funds to education and healthcare....."

Bola Ahmed Tinubu...




https://leadership.ng/breaking-fuel-subsidy-is-gone-says-tinubu/#:~:text=In%20the%20first%20policy%20directive,the%20wake%20of%20drying%20resources.

I don't think this man will waste time in doing whatever he set his heart on whether good or bad. I have a strange feeling that his government will surprise majority of Nigerians with goodness .

tito44:


All of you are hypocrites to the core. Was it not same tinubu that protested removal of fuel subsidy by Jonathan in 2012 or have u quickly forgotten Ojota 2012??

And the Buhari that i mentioned was not part of the APC set-up why all these unnecessary tirade

Acidosis:


And who told you that Tinubu has removed subsidy?? Ngenekwenu? Subsidy has been removed on paper. Anyone selling fuel to you at N215 (today's price) was heavily subsidized.

Subsidy has been removed only on paper - political speech. Nobody can remove subsidy from Eagle square without holding series of meetings with petroleum stakeholders.

okay sir!

yemi1504:


Hyperinflation. Everything goes up overnight as the economy is tied to the commodity.

Thanks 👍👍

Hasty decision. As a rational leader you needed to study situations before taking action. He has not even set up his cabinet.

Really agree about this.
He was almost lame duck when he needed to be decisive..

One thing that Buhari lacked was decisive willpower …with all the military background, there was no decisive decision he could make. Osibanjo was even better as acting president [/quote]

highoctane:

Are you aware, may be not that one of IBB policy is to remove fuel subsidy and liberalisation of trade. Olu Falae, Pat Utomi at least I can remember these two person vividly and other prominent Nigerians argued agresively against it. Been known as a Madonna got into the mix probably.

Maradona

Aggressively

michresakidjo:
Please what happens when subsidy is removed??


I need someone to explain to me very well?? please!!!

Subsidy is the difference the govt pays the petrol importers and the current price of PM's. For instance, to make profit importers will want to sell petrol at #420/LTR and govt wants them to sell at #169/LTR. The difference between the two price is bored by the govt.

With the removal of subsidy, Marketer will now determine how much they will sell fuel after calculating all expenses.

The effect is that, since we import petrol and our economy is a Petro economy then the price of everything will rise since nobody will want to sell at a loss especially foodstuffs.

The importers source for dollar themselves to buy and the PMB administration messed up the exchange rate and crude is paid in dollars at the international market, then the importers will bear all the cost while govt channel the money for subsidy to other things.
It would have been good to remove subsidy but the masses don't trust the govt because the govt is corrupt and will embezzle the money.
Subsidy is the only benefit the masses feel the get from the govt and that's why they oppose the removal.

How much is minimum wage again?

highoctane:

Are you aware, may be not that one of IBB policy is to remove fuel subsidy and liberalisation of trade. Olu Falae, Pat Utomi at least I can remember these two person vividly and other prominent Nigerians argued agresively against it. Been known as a Madonna got into the mix probably.

I'm well aware of the need to remove subsidy and most reasonable Nigerians agree that it should be removed. What I don't agree with is unplanned and abrupt removal without any measure to reduce the negative effect it will have on the economy and livelihood of citizens.

Dangote refinery has been commissioned. What is the haste about? Why can't we allow the refinery to start producing what we need for local consumption before we remove subsidy?

For the records no one will be spared from the impending hardship that this will cause unless you belong to the political class. Buhari tried it few months ago but he had to reversed himself. These are not decisions you take hastily without planning

Harrisonwo:


Subsidy is the difference the govt pays the petrol importers and the current price of PM's. For instance, to make profit importers will want to sell petrol at #420/LTR and govt wants them to sell at #169/LTR. The difference between the two price is bored by the govt.

With the removal of subsidy, Marketer will now determine how much they will sell fuel after calculating all expenses.

The effect is that, since we import petrol and our economy is a Petro economy then the price of everything will rise since nobody will want to sell at a loss especially foodstuffs.

The importers source for dollar themselves to buy and the PMB administration messed up the exchange rate and crude is paid in dollars at the international market, then the importers will bear all the cost while govt channel the money for subsidy to other things.
It would have been good to remove subsidy but the masses don't trust the govt because the govt is corrupt and will embezzle the money.
Subsidy is the only benefit the masses feel the get from the govt and that's why they oppose the removal.

How much is minimum wage again?

Thanks for proper education. God bless and Nigeria shall be better

Jagabanarmy:

It will happen definitely but not now. I support it's removal but let's have dangote's refinery working fully and can supply our local needs. Did you witness long lines at fuel stations today immediately he announced it? Oil importation is dollarized and it's effect on local consumption will be unbearable for our people. Please no hasty decision oooo. I believe in Jagaban vehemently but this hasty decision I don't like

But the truth is we can no longer afford it. It is contributing to our huge foreign debt. As a people, we need to be ready to sacrifice and be very uncomfortable for some time for a better future. There is no wand that will move us magically to the promise land without some strife.

Blestedo75:
Hasty decision. As a rational leader you needed to study situations before taking action. He has not even set up his cabinet.

You think Tinubu is the one that removed it? So he removed it before he was sworn in? You are really smart.

Escapist:


But the truth is we can no longer afford it. It is contributing to our huge foreign debt. As a people, we need to be ready to sacrifice and be very uncomfortable for some time for a better future. There is no wand that will move us magically to the promise land without some strife.

We have sacrificed enough for APC in the last 8 years with sweat and blood. If this is the way Tinubu was advised to start day one in office then he is ill advised.

Chucks13:


Oga pls no time for plenty talk, obi will do likewise because subsidy is like holding a man by his balls and still want him to run.

Let subsidy go and let's us rest abeg.........

I like the fact that u are ñot crîtîcîzing it because before the elections, I see so many Obi followers posting about this subsidy and today they are crîtîcîziñg the one who removed it

Escapist:


You think Tinubu is the one that removed it? So he removed it before he was sworn in? You are really smart.

Do you understand the weight of a president's pronouncements especially in his first speech on inauguration day?

Fiscus105:




Comment from neophyte.

........As if as a sitting president he don't have power to extend it to the day he wants


U guy should learn how reason like a wise.

Sycophants are reason why Nigeria is where it's today.

Ur sènsè is not needed here.
No matter how much u thiñk u can reason with that sh*t up there, u cañ't change what's already said and done.

Iamzik:


We have sacrificed enough for APC in the last 8 years with sweat and blood. If this is the way Tinubu was advised to start day one in office then he is ill advised.

So you think he removed it before he was sworn in? That is an action already taken by past administration. And it is a good action.

delkuf:
so will the price of petroleum remain the same or will it go up. Now price is 250, when buhari removed it. With the public announcement now by tinubu, will that price remain the same or is likely to go up

Watch and see.
With the refinery delivering products by January, I cañ't predict.
At this stage whatever price we get, will be stable for a long time.

michresakidjo:


Thanks 👍👍

You are welcome sir

Iamzik:


Do you understand the weight of a president's pronouncements especially in his first speech on inauguration day?

Okay, keep wailing.

NaijaCowFarm:
If true, then $ will hit N1,250 by July. Sorry for those still earning Naira

I think the opposite will happen. I expect Dollar to come down to 675. To really bring down the rate that CBN Chairman has to go. The man is a Banker, not an Economist. Take him out and watch the spread between the official rate and the Black Market comes down.

Escapist:


Okay, keep wailing.

I'm not sure you understand the meaning of wailing. Perhaps the word sounds fanciful to you and you just feel like joining the bandwagons.

I heard that there will be special filling station for APC members so you don't have to worry. There will be special market and transportation too so you are covered. Happy subsidy removal Inauguration!

This explain why all the fuel station in my area that haven't shut down their station for over three month now, shut down this afternoon. Wicked souls

aieromon:


Wrong heading....the outgoing PMB administration removed subsidy.



https://thenationonlineng.net/fuel-subsidy-will-end-in-june-fed-govt-insists/

Was Asiwaju Tinubu the president of Nigeria yesterday ?

You people always act as if it's by force not to make sense..

NaijaCowFarm:
If true, then $ will hit N1,250 by July. Sorry for those still earning Naira

how subsidy take concern dollar, una go just open mouth waaaaaa

femisplash:
Did you even listen to him at all?. He said Buhari did not make a fresh provision for subsidy, such that subsidy ends by june, therefore subsidy has officially ended with the last administration.

So, Buhari technically removed fuel subsidy few days to handing over power,he doesn't want to face the heat.

That man is a coward despite being a retired general.

plaindealer:


Was Asiwaju Tinubu the president of Nigeria yesterday ?

You people always act as if it's by force not to make sense..

You didn't see the original thread title before it was edited by the mods.

Relax.

Khyrvxjzy:


how subsidy take concern dollar, una go just open mouth waaaaaa

It concerns the dollar,the value of the naira will further plummet when fuel price is increased.

Remember, increase in fuel price will also affect transportation cost which will also lead to increase in prices of goods and services.

Since the buying power of naira is lower,importers will buy foreign currencies at a much higher price, the dollar inclusive.

Thank God,this subsidy scam has ended.Dangote refinery will soon flood the market with petroleum products.

Jagaban has burst the bubbles of those fake importers of fuel collecting subsidy money.

Tinubu should dismantle Buharis cabals without wasting time.