Yoruba fuel subsidy

If you ask me, na who I go ask.
Indeed. What is the plan.... This is a week and counting....

obi58 post=123716233[b:
]The only reason subsidy was removed was because government was not ready to fight the corruption crippling the country. Instead as usual the common man has to bear the cost of this[/b]. We shall see how Nigerians will react to concurrent increases in fuel and food prices. All those people that were shouting Sai Baba where are they now?

Well this has been going on for decades.
Not even a name has been mentioned (save the Otedola/Farouk era), not one single investigation lately and apart from the 'poor' Farouk no one has seen the inside of a gaol.
Meaning that it is likely the government is responsible for the heist.

Ofunaofu:
No plan.

Tinubu heard that other presidential candidates said they will remove subsidy, then rush to remove it without plans to cushion the effects it's having on the masses

The Renewed Hope manifesto is not even being talked about any longer. It has been thrown into the waste bin




You don't expect anything less from a Notorious narcotic drug trafficker engaging in criminal state capture.

lol. Tinubu will still proof you wrong again and again.

There's no plan. Suffering and smiling continua

He's tryna recover all d billions he spent doin campaign before finishing us

Nigerians are in for a long ride,more Draconian policies on the way, tinubu must recoup his election billions at all costs.500 per liter pms is a tip of the iceberg,the more we look,the less we see.

patriotic007:
Tinubu should have resumed office first,go through the records, balance the accounts, negotiate the negotiatables, meet the marketers, evaluate the market, negotiate with Dangote,do a market survey, and conclude the best case scenario for Nigerians before announcing the subsidy removal.......Now marketers are cashing out big time because of tinubu's reckless pronouncement......with a new indeginious refinery and a ready market Nigerians should have a better deal in terms of Pump price......But our Mandate thief wants to recoup the money he used in stealing the position immediately without caring for the masses.....and subsidy payment was the only spare aspect of the Nigerian Budget that the thief Tinubu can use to recover the Billions of Naira he used in Getting the position....... Nobody invests money to lose the money 🤣........ Forget about the fraudulent quote the wife of tinubu is putting up that God has blessed the Tinubu's family and they don't need Nigerian money🤣🤣🤣🤣....... God has blessed them but they have clinged to Lagos State's mega revenue and resources for years now......God has blessed them but they have made sure their stooge continue as Government in Lagos to continue their stealing of Tax player's money......God has blessed them but they used billions of Naira to bribe their way to power and snatch political power to run away with it.....God has blessed them but they spent billions to bankroll many youths to kill,intimidate, snatch ballot boxes,and even impersonate online as patriotic Nigerians for them to remain on the good books of Gulible Nigerians ....... Anyone thinking Tinubu is the solution to Nigeria's problems is just totally blind...... Nigeria is doomed or else The New Nigeria comes to pass.

AnonPoet:


https://www.thecable.ng/talking-frankly-petrol-subsidy-removal

Eveeybody is just saying infrastructure infrastructure just to reloot the funds accrued from subsidy removal.
Don't trust Nigeria politicians all are there for there selfish interest they don't have the masses at heart

No plans

Zero

Absolutely nothing

The government WILL

They will continue looking till the end of the tenure. No be naija we dey again

happney65:
Babajide Specs Fadoju. One of the propaganda arm of Oyo APC. They will keep on churning more lies and propaganda out in the coming days.

Nonesense

Stop masturbating...the man asked a simple question

Fela said it already, Nigerians like suffering and smiling. That's why Tinubu can say subsidy gone. Just like that without any plan, now high inflation.

Johnrake69:
Myopic understanding of the impact of fuel subsidy in our economy.

Fuel subsidy did subsidize everything in our economy.

Transportation, food, Healthcare, Education, Laundry, saloons, housing, car maintenance, home appliances, etc.

We should expect 50% -200% increment on some of these things.

We should also be ready for a recession. Many Nigerians can’t afford to go to work anymore.

Especially people earning minimum wage because it doesn’t make any economic sense. Earning 30K then spending over #1000 daily on transportation.

Many businesses will close up shop.

You get sense bro.

patriotic007:
Tinubu should have resumed office first,go through the records, balance the accounts, negotiate the negotiatables, meet the marketers, evaluate the market, negotiate with Dangote,do a market survey, and conclude the best case scenario for Nigerians before announcing the subsidy removal.......Now marketers are cashing out big time because of tinubu's reckless pronouncement......with a new indeginious refinery and a ready market Nigerians should have a better deal in terms of Pump price......But our Mandate thief wants to recoup the money he used in stealing the position immediately without caring for the masses.....and subsidy payment was the only spare aspect of the Nigerian Budget that the thief Tinubu can use to recover the Billions of Naira he used in Getting the position....... Nobody invests money to lose the money 🤣........ Forget about the fraudulent quote the wife of tinubu is putting up that God has blessed the Tinubu's family and they don't need Nigerian money🤣🤣🤣🤣....... God has blessed them but they have clinged to Lagos State's mega revenue and resources for years now......God has blessed them but they have made sure their stooge continue as Government in Lagos to continue their stealing of Tax player's money......God has blessed them but they used billions of Naira to bribe their way to power and snatch political power to run away with it.....God has blessed them but they spent billions to bankroll many youths to kill,intimidate, snatch ballot boxes,and even impersonate online as patriotic Nigerians for them to remain on the good books of Gulible Nigerians ....... Anyone thinking Tinubu is the solution to Nigeria's problems is just totally blind...... Nigeria is doomed or else The New Nigeria comes to pass.

A weak and sick old man wouldn't have the strength to do all that.

It’s after 1 year we will know what will happen Buhari already passed budget

They will sqander the money as usual, Nigeria is a nonsense country

There's no plan. Suffering and smiling celebrating it continua. Fix it

jjcena:
There's no plan. Suffering and smiling continua

Notice Yoruba people are no longer talking about restructuring or state police.

patriotic007:
Tinubu should have resumed office first,go through the records, balance the accounts, negotiate the negotiatables, meet the marketers, evaluate the market, negotiate with Dangote,do a market survey, and conclude the best case scenario for Nigerians before announcing the subsidy removal.......Now marketers are cashing out big time because of tinubu's reckless pronouncement......with a new indeginious refinery and a ready market Nigerians should have a better deal in terms of Pump price......But our Mandate thief wants to recoup the money he used in stealing the position immediately without caring for the masses.....and subsidy payment was the only spare aspect of the Nigerian Budget that the thief Tinubu can use to recover the Billions of Naira he used in Getting the position....... Nobody invests money to lose the money 🤣........ Forget about the fraudulent quote the wife of tinubu is putting up that God has blessed the Tinubu's family and they don't need Nigerian money🤣🤣🤣🤣....... God has blessed them but they have clinged to Lagos State's mega revenue and resources for years now......God has blessed them but they have made sure their stooge continue as Government in Lagos to continue their stealing of Tax player's money......God has blessed them but they used billions of Naira to bribe their way to power and snatch political power to run away with it.....God has blessed them but they spent billions to bankroll many youths to kill,intimidate, snatch ballot boxes,and even impersonate online as patriotic Nigerians for them to remain on the good books of Gulible Nigerians ....... Anyone thinking Tinubu is the solution to Nigeria's problems is just totally blind...... Nigeria is doomed or else The New Nigeria comes to pass.

You are very right!
What Tinubu did shows he could be very reckless and not deep enough when it comes to thinking about how to govern.
I am already seeing a nepotistic tendency like what happened under Buhari.
He will fail badly if he decides to fill his cabinet and appointments with mostly Yoruba people instead of spreading appointments across the 6 zones of the nation.

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Gone to where??

jmoore:
USA pays fuel subsidy.

The plan is for you to find additional sources of income, because inflation is coming.

USA pays subsidy, but not in the way Nigeria pays subsidy.

USA pays subsidy directly to refinery owners, not by forcing the price of fuel artifically down and then paying a subsidy to cover the resulting loss as we do here in Nigeria.

A USA style subsidy in Nigeria would involve refineries (like Dangote) getting tax incentives, some money to invest more in local production (meaning the company does not have to use some of its cash to pay for new production lines) and so forth. Either way, the goal is to improve productivity.

Also, some poor people do get some money (I think) for fuel from the government...but note that these are not for everyone...they are for people in dire straits...who have applied for a programme, and government checks to see if they qualify. Once things get better, that's it.

(The above establishes the difference between US subsidy and Nigeria subsidy. It is not meant as a comment supporting subsidy).

U v not even settled down you quickly declared subsidy in your inaugural speech. Master strategist my foot. Just look at what Nigerians are going through.

Emeskhalifa:
Permit me to derail from the topic a little.

I am not a fan of The current president but if you think there is any messiah anywhere that will come and perform magic, you are just being comical, sarcastic and not being truthful to yourself.

So far, all what the president has done are the right calls any individual with genuine interest of moving the country positively forward would have done.

Back to the topic, it's such a shame that we had to borrow to pay subsidy that's absurd and what a lot of people don't understand is, those who it benefits the most are the rich who can afford even if petrol goes to 1k per litre. Example is, your lunch money is 1500 daily, then I choose to be given you 1k so you could add 500 to it to buy your lunch daily, now I am broke and can't keep up with that, instead of coming out to tell you the reality on ground so u could carry your cross, I choose to start taking loan from loan apps so I can keep giving you the 1k to complete your lunch money (do you see how dumb it sounds?) it is same thing with subsidy. Its total removal is the best way to go.

My advice is we should work on fixing electricity in the country and I think the president already working on that through the new electricity bill he signed, once we have stable light in the country, living only motorists being the one to look for fuel, supply will become excess thereby possibly leading to decline in price.

Also, we hope to see more of cars switch from petrol to using CNG.

If you say "So far, all what the president has done are the right calls", what are the right calls he has made?

With regards fuel subsidy removal, can you kindly answer the following?

the government has been removing fuel subsidy since the 90s maybe earlier. what was the percentage of the cost of each litre of fuel was the government paying as subsidy?

with each partial withdrawal of subsidy, what percentage of subsidy was removed and what was left?

In this attempt by tinubu, what was the percentage of subsidy left that he removed?

If you say "we had to borrow to pay subsidy that's absurd", is it only subsidy that loans were borrowed for?

Are you aware that buhari also borrowed to pay salaries? Should salaries be "removed" because the govt borrowed to pay salaries?

nairalanda1:


USA pays subsidy, but not in the way Nigeria pays subsidy.

USA pays subsidy directly to refinery owners, not by forcing the price of fuel artifically down and then paying a subsidy to cover the resulting loss as we do here in Nigeria.

A USA style subsidy in Nigeria would involve refineries (like Dangote) getting tax incentives, some money to invest more in local production (meaning the company does not have to use some of its cash to pay for new production lines) and so forth. Either way, the goal is to improve productivity.

Also, some poor people do get some money (I think) for fuel from the government...but note that these are not for everyone...they are for people in dire straits...who have applied for a programme, and government checks to see if they qualify. Once things get better, that's it.

I thought u had always been against any form of subsidy and gave us the impression that western countries to pay subsidies but only collect taxes which you have always said that nigerians don't pay enough?

How come you are now acknowledging that the US pays subsidy?

ManWater:
This subsidy removal is just another revenue-generating scheme of Govt. Though necessary, but it was a case of extracting a rotten tooth without anaesthesia.

Was there anything wrong with the subsidy in the first place?

Thank you for this breakdown...you studied your Economics well, i was wondering how the fuel prices can ever go down, as result if market demands, it's clear now. I hope and pray that the money the government would have used to subsidize petrol will not be pocketed, but invested in other sectors, especially that electricity. [Asquote author=Emeskhalifa post=123716135]Permit me to derail from the topic a little.

I am not a fan of The current president but if you think there is any messiah anywhere that will come and perform magic, you are just being comical, sarcastic and not being truthful to yourself.

So far, all what the president has done are the right calls any individual with genuine interest of moving the country positively forward would have done.

Back to the topic, it's such a shame that we had to borrow to pay subsidy that's absurd and what a lot of people don't understand is, those who it benefits the most are the rich who can afford even if petrol goes to 1k per litre. Example is, your lunch money is 1500 daily, then I choose to be given you 1k so you could add 500 to it to buy your lunch daily, now I am broke and can't keep up with that, instead of coming out to tell you the reality on ground so u could carry your cross, I choose to start taking loan from loan apps so I can keep giving you the 1k to complete your lunch money (do you see how dumb it sounds?) it is same thing with subsidy. Its total removal is the best way to go.

My advice is we should work on fixing electricity in the country and I think the president already working on that through the new electricity bill he signed, once we have stable light in the country, living only motorists being the one to look for fuel, supply will become excess thereby possibly leading to decline in price.

Also, we hope to see more of cars switch from petrol to using CNG.

[/quote]

[Asquote author=Emeskhalifa post=123716135]Permit me to derail from the topic a little.

I am not a fan of The current president but if you think there is any messiah anywhere that will come and perform magic, you are just being comical, sarcastic and not being truthful to yourself.

So far, all what the president has done are the right calls any individual with genuine interest of moving the country positively forward would have done.

Back to the topic, it's such a shame that we had to borrow to pay subsidy that's absurd and what a lot of people don't understand is, those who it benefits the most are the rich who can afford even if petrol goes to 1k per litre. Example is, your lunch money is 1500 daily, then I choose to be given you 1k so you could add 500 to it to buy your lunch daily, now I am broke and can't keep up with that, instead of coming out to tell you the reality on ground so u could carry your cross, I choose to start taking loan from loan apps so I can keep giving you the 1k to complete your lunch money (do you see how dumb it sounds?) it is same thing with subsidy. Its total removal is the best way to go.

My advice is we should work on fixing electricity in the country and I think the president already working on that through the new electricity bill he signed, once we have stable light in the country, living only motorists being the one to look for fuel, supply will become excess thereby possibly leading to decline in price.

Also, we hope to see more of cars switch from petrol to using CNG.

[/quote]Thank you for this breakdown...you studied your Economics well, i was wondering how the fuel prices can ever go down, as result if market demands, it's clear now. I hope and pray that the money the government would have used to subsidize petrol will not be pocketed, but invested in other sectors, especially that electricity

lexy2014:


Was there anything wrong with the subsidy in the first place?

Citizens' perspective: Nothing wrong
Government's perspective: Not sustainable

I dont really like dis subsidy removal now dt we jst recuperating from naira crunch from one battle to anoda,we not breathg well sir.fine its a gud phenomena,but bf one do things one shd be considerate of d time,we yet to get heal from cashless saga,not d right time,dts been heartless.for ffk to plc dos curses on emefiele meant he cant forget wot he went thru,wot abt d poor if it touchd ppl like ffk,so ow can smone jst come n say no mata ow u will feel ds wot i will do n final,dts not democracy

Ofunaofu:
No plan.

Tinubu heard that other presidential candidates said they will remove subsidy, he then rush to remove it without plans to cushion the effects it's having on the masses

The Renewed Hope manifesto is not even being talked about any longer. It has been thrown into the waste bin




You don't expect anything less from a Notorious narcotic drug trafficker engaging in criminal state capture.

The mumu president thinks say na Yoruba land abi na Lagos state him dey govern

Unfortunately.... this question should have been asked first.

obi58:
The only reason subsidy was removed was because government was not ready to fight the corruption crippling the country. Instead as usual the common man has to bear the cost of this. We shall see how Nigerians will react to concurrent increases in fuel and food prices. All those people that were shouting Sai Baba where are they now?

Where I became lost was where he said that govt will do this and that, and also said that the inflation will be temporary. Inflation temporary in this same Nigeria we're in, big lie. 😂😂