Tianamen1:
Nairalanda1, please take a look at the charts posted by Lavor234. Take time to look at the third chart specifically. It contradicts everything you believe in. It shows Nigeria spends a lower proportion of its GDP on subsidies. It also proves that subsidies aren’t the reason why our petroleum and power sectors have collapsed.

We are all still learning and we should all want the best for Nigeria. We may have different opinions but facts should be sacrosanct.

We also tax a lower proportion of our gdp as well. Too low in fact.

DeepSight:


Thank for this good brother.
Mr. nairalanda1, FYE.

Better not be obsessed.

Especially since it makes you abusive

nairalanda1:


Better not be obsessed.

Especially since it makes you abusive

Better get schooled, kiddo.

DeepSight:


Better get schooled, kiddo.

Ah more abuse.

This is fun

I'm sure you call your dad kiddo when you have a disagreement too.

That's fine

Tianamen1:
Nairalanda1, please take a look at the charts posted by Lavor234. Take time to look at the third chart specifically. It contradicts everything you believe in. It shows Nigeria spends a lower proportion of its GDP on subsidies. It also proves that subsidies aren’t the reason why our petroleum and power sectors have collapsed.

We are all still learning and we should all want the best for Nigeria. We may have different opinions but facts should be sacrosanct.

He has an incapacity with reason, logic and elementary general knowledge.

DeepSight:


He has an incapacity with reason, logic and elementary general knowledge.

The obsession continues.

Well, no matter what you think of my intellectual capacity, you should not let me be dominating your thoughts.

After all, you have a high IQ, therefore yw should not bother about low IQ people like me.

nairalanda1:


We also tax a lower proportion of our gdp as well. Too low in fact.

If you know we tax lower than other countries, why are you fighting for the removal of subsidies as opposed to raising taxes? The two policies are vastly different?

Kind of amusing that my comments somehow make people angry.

If you are angered by my comments, better leave the internet for a while. I do

And then again , things cost money

Tianamen1:


If you know we tax lower, why are you fighting for the removal of subsidies as opposed to raising taxes? The two policies are vastly different?

I am fighting for both. And for more people to pay taxes as well, which means at the end more money which can be used for subsidies for those who really need them

I also.hope we do the hard work of holding govt to accountability

Tianamen1:


If you know we tax lower, why are you fighting for the removal of subsidies as opposed to raising taxes? The two policies are vastly different?

That's because raising taxes would affect the rich far more than the poor. How many of the elites pay taxes commensurate to their wealth?

In Nigeria the government favours the elites to the detriment of the poor. We practice elitocrasy - government of the elites by the elites for the elites.

wirinet:

That's because raising taxes would affect the rich far more than the poor. How many of the elites pay taxes commensurate to their wealth?

Indeed.

nairalanda1:


I am fighting for both. At the end more money which can be used for subsidies for those who really need them

Removing subsidies has taking Nigeria backwards by several decades. There is nothing positive about it.
Taxing richer Nigerians and imports would have stabilized the Naira and reduced the subsidy paid on energy. This is the point I kept trying to make to you last year.

Story time
Around 2014, the British pound was under pressure to be devalued. If the government allowed the pound to lose value, energy prices would have risen and a major economic crisis would have occurred. Britain is a developed country and has little inequality, so the government raised taxes on plastic bags. This policy not only reduced the pressure on the pound, but also reduced the environmental impact of plastic bags.

In 2022, Britain faced similar pressures on the pound. They quickly fired their prime minister and announced huge cuts in government jobs. Cuts in government jobs have a similar effect to raising effective taxes.

Tianamen1:


Removing subsidies has taking Nigeria backwards by several decades. There is nothing positive about it.
Taxing richer Nigerians and imports would have stabilized the Naira and reduced the subsidy paid on energy. This is the point I kept trying to make to you last year.

Story time
Around 2014, the British pound was under pressure to be devalued. If the government allowed the pound to lose value, energy prices would have risen and a major economic crisis would have occurred. Britain is a developed country and has little inequality, so the government raised taxes on plastic bags. This policy not only reduced the pressure on the pound, but also reduced the environmental impact of plastic bags.

In 2022, Britain faced similar pressures on the pound. They quickly fired their prime minister and announced huge cuts in government jobs. Cuts in government jobs have a similar effect to raising effective taxes.

Keeping subsidies has driven us into more debt and also prevented far more investment in the sector.

Ditto for power.

At the end, the price controls cause problems. Lots of them

wirinet:

That's because raising taxes would affect the rich far more than the poor. How many of the elites pay taxes commensurate to their wealth?

In Nigeria the government favours the elites to the detriment of the poor. We practice elitocrasy - government of the elites for the elites.

"And anything that will benefit the poor is Haram, but that which smitheth the weak and the voiceless, yea, that is edifying, and goodly in our sight, saith Asmodeus."

... Demonic Book of Nigeria, 5:29

nairalanda1:
Kind of amusing that my comments somehow make people angry.

If you are angered by my comments, better leave the internet for a while. I do

And then again , things cost money

No one is obsessed with you. Get that into your head. You are not some big ass blonde for us to be obsessed with, understand that.

Rather, the subsidy issue is a very sensitive one the handling of which has greatly impoverished millions of Nigerians in record time and killed many more people than you can guess. It is thus natural that people react vigorously to thoughtless and shallow comments on the matter.

In like manner, several policies of the FG have been painfully anti people. Such as the naira confiscation of last year and the ill advised floating of the naira.

DeepSight:


No one is obsessed with you. Get that into your head. You are not some big ass blonde for us to be obsessed with, understand that.

Rather, the subsidy issue is a very sensitive one the handling of which has greatly impoverished millions of Nigerians in record time and killed many more people than you can guess. It is thus natural that people react vigorously to thoughtless and shallow comments on the matter.

In like manner, several policies of the FG have been painfully anti people. Such as the naira confiscation of last year and the ill advised floating of the naira.

Okay. Person who mentioned my name five times today

And called me ignoramus, drunk and so forth

Anyway...be happy ..don't let low IQ people like me make you angry. Live your life

nairalanda1:


Okay. Person who mentioned my name five times today

And called me ignoramus, drunk and so forth

Anyway...be happy ..don't let low IQ people like me make you angry. Live your life

Yes I react quite often to gross illogicality. It is my duty so to do. Go and ask Righteousness/ Holiness, that rabid lunatic how many times I mention him.

But you, sadly, are unteachable. And that is one of the most pitiful things to be.

DeepSight:


Yes I react quite often to gross illogicality. It is my duty so to do. Go and ask Righteousness/ Holiness, that rabid lunatic how many times I mention him.

But you, sadly, are unteachable. And that is one of the most pitiful things to be.

Well, like I said, if you find yourself getting too hot, cool.off.

I will never abuse you, though.

You should not let righteousness get you too angry.

And this site is not a teaching site. You do know that.

Calm down..you are still letting me make you upset

DeepSight:


Yes I react quite often to gross illogicality. It is my duty so to do. Go and ask Righteousness/ Holiness, that rabid lunatic how many times I mention him.

But you, sadly, are unteachable. And that is one of the most pitiful things to be.

This is the internet..too many missionaries, too few heathens

DeepSight:


No one is obsessed with you. Get that into your head. You are not some big ass blonde for us to be obsessed with, understand that.

Rather, the subsidy issue is a very sensitive one the handling of which has greatly impoverished millions of Nigerians in record time and killed many more people than you can guess. It is thus natural that people react vigorously to thoughtless and shallow comments on the matter.

In like manner, several policies of the FG have been painfully anti people. Such as the naira confiscation of last year and the ill advised floating of the naira.

I don't just want the petrol subsidy gone, but the price of petrol completely deregulated as already done with diesel and kerosene.

The subsidy is doing lots of damage to the economy. One of the main components of the huge debt burden the country carries today is due to the fuel subsidy.

It will cost about 7 trillion to provide subsidy this year alone. When you realize the budget is only 28 trillion, you realize it's a lot of money. Government would have to borrow this money or underfunded other sectors of the economy. The fuel subsidy is the number one reason why the Naira is always under pressure.

The fuel subsidy is keeping Nigerians poor.and impoverished. Many don't realize it. The fuel subsidy causes the Naira to weaken impoveridhing everyone.

When government borrows to pay the subsidy, it crowds out or prevents private companies from borrowing. Banks prefer to lend to the government as they know the government won't default on its debt unlike a private enterprise.

Because the government keeps borrowing, the debt mountain keeps rising and cost of servicing the debt keeps rising. Last yearly,it was estimated that government was spending over 90% of government revenue on debt servicing. That means there very little money for anything else. That means the government will be forced to borrow practically everything to run the government.

That was why Tinubu had to "end the subsidy." Unfortunaty, the subsidy crept back due to the devaluation of the Naira and also the rise in cride oil prices. Government should have completely deregulated the orice.

With the price of petrol deregulated, that will simply lead to a reduction in the budget deficit, therefore reducing the need for government to borrow money.

Most importantly, with the price of petrol deregulated, it, it will lead to massive investment in refining capacity.

Nobody wants to build refineries for a product sold below the market price.

Nigeria has about 3 small privately owned refineries. All produce only diesel. They have shied away from refining petrol because government controls the price. Dangote has so far only refined diesel and kerosene despite the fact that demand for petrol is the highest amongst the 3.

If the government had deregulated the price of petrol long ago, I won't be surprised if Nigeria would be refining over 2million barrels a day of crude oil by now.

grandstar:


It will cost about 7 trillion to provide subsidy this year alone.

Oga, when the cost of subsidy jumped from under 300 billion in a few years to over 6 trillion, that should have been enough to tell you that brazen thievery, and not the subsidy itself, is the problem.

And so long as that remains the nature of Nigeria, be assured that any sums you imagine will be saved by the removal of subsidy in Nigeria, will be quickly and rapaciously re-looted, just as all repatriated loot has been re-looted. If you dont know and understand this, then you haven't started.

The fuel subsidy is keeping Nigerians poor.and impoverished.

The removal of the subsidy impoverished Nigerians far more than anything you are talking about. The drastic jump in the cost of living meant that every N100 each Nigerian had automatically became about N30. You really don't understand what has been done to the people, the hardship that has been imposed, and the thousands who have died as a consequence.

As far as the refineries are concerned, many trillions over the years have been allocated to them. All those sums were stolen and that is a function of corruption and not subsidies.

The people who preach removal of subsidies to us subsidize many things in their own societies heavily.

DeepSight:


Oga, when the cost of subsidy jumped from under 300 billion in a few years to over 6 trillion, that should have been enough to tell you that brazen thievery, and not the subsidy itself, is the problem.

And so long as that remains the nature of Nigeria, be assured that any sums you imagine will be saved by the removal of subsidy in Nigeria, will be quickly and rapaciously re-looted, just as all repatriated loot has been re-looted. If you dont know and understand this, then you haven't started.



The removal of the subsidy impoverished Nigerians far more than anything you are talking about. The drastic jump in the cost of living meant that every N100 each Nigerian had automatically became about N30. You really don't understand what has been done to the people, the hardship that has been imposed, and the thousands who have died as a consequence.

As far as the refineries are concerned, many trillions over the years have been allocated to them. All those sums were stolen and that is a function of corruption and not subsidies.

The people who preach removal of subsidies to us subsidize many things in their own societies heavily.

Don't mind them. Most likely they are government workers or government apologies whose duty is to defend government policies at all cost. We have been removing petrol subsidy since IBB, and it seems the more we remove subsidy, the more money used for subsidy grows. During Obasanjo who removed subsidy twice, the amount spent was less than a N100 billion. During Jonathan with all the subsidy thievery and corruption, the amount on subsidy was about N3 trillion. Now under Tinubu who completely removed subsidy on the first day in office, the amount spent on subsidy so far is 7 trillion, and he had not even spent a full year in office. What this tell us is that as long as we import petrol, the money spent on subsidy would keep on growing.

I want you to listen to this presentation by PLO Lumumba, he eloquently elaborates on the miseducation of Africans and the challenges we face from colonisation and neo-colonisation.

https://www.youtube.com/watch?v=jwufamTpQXc?si=H_HU-UAIXpySdgfh

wirinet:


Don't mind them. Most likely they are government workers or government apologies whose duty is to defend government policies at all cost. We have been removing petrol subsidy since IBB, and it seems the more we remove subsidy, the more money used for subsidy grows. During Obasanjo who removed subsidy twice, the amount spent was less than a N100 billion. During Jonathan with all the subsidy thievery and corruption, the amount on subsidy was about N3 trillion. Now under Tinubu who completely removed subsidy on the first day in office, the amount spent on subsidy so far is 7 trillion, and he had not even spent a full year in office. What this tell us is that as long as we import petrol, the money spent on subsidy would keep on growing.

I want you to listen to this presentation by PLO Lumumba, he eloquently elaborates on the miseducation of Africans and the challenges we face from colonisation and neo-colonisation.

https://www.youtube.com/watch?v=jwufamTpQXc?si=H_HU-UAIXpySdgfh

Thank you and may you live long my brother. It is encouraging to see that not everyone is blindfolded and brainwashed by western control-talk.

Kay17:


I am fed up of these supposed intentions of IMF. IMF would not be in your business if you do not mismanage your economy. How would a third world country borrow over a billion dollars to fund unproductive subsides at the expense of development.

the root problem is the effectiveness of the so called development.
For example, what will the Lagos-calabar road do that old east west and benin-lagos cannot be upgraded to do?
The ones buhari borrowed, what is the scorecard?

Kay17:


Most Western governments actualize a redistribution of wealth through subsidies and taxes. Taxes are collected to fund free healthcare and education. In a way, it is an indirect payment for the subsided services.

Nigeria merely pays out subsidies but barely receives taxes. Thus, it has to finance its subsidies with borrowings. The petrol subsidy is not productive. Since it has been instituted in the 1970s, the people are as worse off. All the subsidies on petrol have not boosted productivity to the point it can stand on its own.

what about 1.5m bpd crude oil earning?

IMF is a very dangerous organisation looking for relevance in Nigeria

We have not forgotten their Structural Adjustment Programme under Babangida that wiped out the Middle Class in the 1980s