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No Subsidy Paid In January— Kachikwu - Politics (2) - Nairaland

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Re: No Subsidy Paid In January— Kachikwu by luvinhubby(m): 7:22am On Feb 03, 2016
Mynd44:

Let the Naira hit 400. Perhaps it will knock some senses into our heads and we will cut down our silly importations and start looking inwards in terms of local production when the price it takes to import will become a lot higher than the price it takes to produce it here
Case of F9 in economics.

Local production still depends on some imported raw materials, machinaries & parts.
How do you deal with that.

2 Likes

Re: No Subsidy Paid In January— Kachikwu by skademzy(m): 7:24am On Feb 03, 2016
Guess PMB will make same history as Lenin who even the U.S 2009 encarta were truthful enough to admit moved russian to its industrial status but noted "it came only after a period of suffering by Russian"... Move on Buhari... Build the New Nigeria we all crave for... Jah Bless You Baba cheesy
Re: No Subsidy Paid In January— Kachikwu by joseph1832(m): 7:26am On Feb 03, 2016
Funny enough those who are wailing about fuel scarcity have kept mute, all they do now is look for other things to wail about.

Those of you wailing about the current state of the economy will keep mute when the economy improves, just like you're mute now.

Its all a matter of time.

2 Likes

Re: No Subsidy Paid In January— Kachikwu by Femsyn(m): 7:26am On Feb 03, 2016
Opposition will always look out for holes! In their heads, NOTHING will ever come out of this government.

What if someone feels the same way about your existence?

Give kudos first, then critic.

What if the price of crude/barrel is even lower than it is, but govt still bamboozle you to see reasons why they should pay subsidy, what would you?
At most, rant on nairaland and twitter, and go to sleep!

1 Like

Re: No Subsidy Paid In January— Kachikwu by Nobody: 7:27am On Feb 03, 2016
all is well.
Re: No Subsidy Paid In January— Kachikwu by eightsin(m): 7:31am On Feb 03, 2016
We knew there was no subsidy sir. But was there a gain? Because you didn't tell us if there was a gain this January! If the price of crude increases, will the price of PMS increase? Or there will be a reintroduction of subsidy?
Re: No Subsidy Paid In January— Kachikwu by anataala: 7:32am On Feb 03, 2016
You that understand economics well done, by the way, learn how to write a correct word while sending a message. it is unfortunate that you can't even write black in your sentence and you are trying to correct someone, Haba Dolo.
grandstar:


There is no subsidy and government can't meet demand for forex.

The biggest symptom of its inability to meet demand is the 306 at the back market.

Buhari extremely poor understanding of economics will leave the economy in tatters.

The naira will hit 400 if this expansionary budget is passed
Re: No Subsidy Paid In January— Kachikwu by alowale(m): 7:36am On Feb 03, 2016
Kachukwu u are the man keep up the good work


Ofunaofu:

http://www.vanguardngr.com/2016/02/no-subsidy-paid-in-january-kachikwu/
Re: No Subsidy Paid In January— Kachikwu by Reference(m): 7:36am On Feb 03, 2016
Good and may it remain so for ever. And now since there is no more money to be sharing can you kindly liquidate the NNPC. Can't see their use. In the States ordinary folks drill oil like we drill water boreholes here and give the change to government. The US produces 10 million barrels per day, the government earns more oil revenue than ours and yet has no national petroleum company, has no refineries, has no oil and gas pipelines, has no depots, has no state owned mega stations and has no fuel queues.

In war you don't concentrate all your stores in one location. You scatter to defend and keep moving. Why is a country perpetually in recession putting all its horses in the NNPC and staying put on that flawed, colonial, feudalistic policy. If the colonials feared empowering its subjects and their feudal overlords wanted to control the minds via the purse strings, surely not in a democratic era.

In the 21st century nations put their wealth in the hands of the people not the government because poultries are built for chickens as nations are for people and it is the chickens that lay the eggs not the farmer. It is the chickens that make the farmer.

Shut down the NNPC abeg.

3 Likes

Re: No Subsidy Paid In January— Kachikwu by grandstar(m): 7:42am On Feb 03, 2016
anataala:
You that understand economics well done, by the way, learn how to write a correct word while sending a message. it is unfortunate that you can't even write black in your sentence and you are trying to correct someone, Haba Dolo.

Thanks for the correction. My laptop is faulty and my android phone not working well. Need to upgrade.

Your corrections noted and will reread my posts before pressing the submit button.

Constructive criticism must always be appreciated
Re: No Subsidy Paid In January— Kachikwu by gists: 7:43am On Feb 03, 2016
Mynd44:

Let the Naira hit 400. Perhaps it will knock some senses into our heads and we will cut down our silly importations and start looking inwards in terms of local production when the price it takes to import will become a lot higher than the price it takes to produce it here
The irony of it all is that this government policy favours my brothers in Aba. They are the ones that ordinary should benefit from this government because if importation is reduced to the minimum, there will be a HUGE demand gap to fill which the Aba boys can profit from.
But their needless hatred for anything North/Islam is blinding them to this wholesome opportunity.

There will still be need to use toothpicks, nonsensical ready-made clothing items and other senseless commodities that can be produced locally in Aba and other areas. While not support this government to "move" the factories in China (producing substandard products) to our "backyard" which will boost employment. Imagine Aba producing toothpicks for a market of the largest population of black people (over 160 million customers!!)

3 Likes

Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 7:50am On Feb 03, 2016
Mynd44:

Actually, exchange rate is N197 to a Dollar. There is no subsidy there sir.
Oga why blind the truth. Who buys at that rate?

1 Like

Re: No Subsidy Paid In January— Kachikwu by onatisi(m): 7:53am On Feb 03, 2016
But there is nothing to subsidize. The price of oil is already 28 us dollars.

1 Like

Re: No Subsidy Paid In January— Kachikwu by Mynd44: 7:54am On Feb 03, 2016
grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export
Does it make any sense to you that Nigeria imports rice and palm oil? We import canned meat and fish too.

Does it make sense that we also imports frozen fish and if not for the ban on poultry and fruit juices, we will be important those too.

Yes the initial prices of machinery will rise but in the long term, we gain.

As for raw materials, a lot of the things we import, we can make the raw materials by our darned self.

How can we be importing fabrics and leather footwear? We will almost be importing garri soon sef (joke)

1 Like 1 Share

Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 7:54am On Feb 03, 2016
Ofunaofu:

http://www.vanguardngr.com/2016/02/no-subsidy-paid-in-january-kachikwu/
Direct sale is same thing as the exchange. The NNPC will still chopulate the money.I would have been happy if they swop the oil for more refinaries rather petrolume product. Swop the Oil for railway construction with the chinease. .If su sides where not paid the Honorable Minister should name the country where they imported from let's check thier pump price minus VAT.you guys should stop believing these criminals.

1 Like

Re: No Subsidy Paid In January— Kachikwu by naijaboy756: 7:54am On Feb 03, 2016
So this mynd 44 guy/babe na APC and PMB supporter... No wonder the bans are one-sided... Na joke o grin
Re: No Subsidy Paid In January— Kachikwu by Mynd44: 7:56am On Feb 03, 2016
gists:

The irony of it all is that this government policy favours my brothers in Aba. They are the ones that ordinary should benefit from this government because if importation is reduced to the minimum, there will be a HUGE demand gap to fill which the Aba boys can profit from.
But their needless hatred for anything North/Islam is blinding them to this wholesome opportunity.

There will still be need to use toothpicks, nonsensical ready-made clothing items and other senseless commodities that can be produced locally in Aba and other areas. While not support this government to "move" the factories in China (producing substandard products) to our "backyard" which will boost employment. Imagine Aba producing toothpicks for a market of the largest population of black people (over 160 million customers!!)
People just love to oppose everything
Re: No Subsidy Paid In January— Kachikwu by ademoladeji(m): 7:56am On Feb 03, 2016
grandstar:
Subsidy was still paid. Since the naira is sold at a subsidised rate of 197 for the import of petrol, a subsidy still exist. Were the naira allowed to find its true value which is around 230, the price will shoot up to around N100 per litre.

Buhari has still refused to deregulate the price of kerosene and diesel despite super strong reasons to do so. Instead he is still fixing prices, playing to the gallery.

If the price of oil should shoot up today, there will be need to increase the price and there will be stiff resistance

Na wa ooooo

Officially, it's #197 per $1. So, zero subsidy is in play.

I love the way you criticise sha! No bad blood, no insult, no curse.

Weldon bra

1 Like

Re: No Subsidy Paid In January— Kachikwu by banki(m): 7:59am On Feb 03, 2016
grandstar:


There is no subsidy and yet the government can't meet demand for forex! Its incomprehensible

The biggest symptom of its inability to meet demand is the 306 at the back market.

Buhari extremely poor understanding of economics will leave the economy in tatters.

The naira will hit 400 if this expansionary budget is passed

What do you know about economics
What do you understand about expansionary budget?

Why on earth do you think the naira is falling against the dollar? What are you producing that brings you dollars? Apart from oil? Now that the price of oil has dropped world wide what exactly do you want

You that understands economics and support people that understand economics can you explain why at the peak of oil prices our reserves were depleted? No corresponding investment was made? And the naira fell to 200 against the dollar?

I tire for una matter

3 Likes 1 Share

Re: No Subsidy Paid In January— Kachikwu by ademoladeji(m): 8:00am On Feb 03, 2016
Mynd44:
People just love oppose everything
That's the highlight of all comments on social media as regards politics

1 Like

Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 8:11am On Feb 03, 2016
ademoladeji:


Na wa ooooo

Officially, it's #197 per $1. So, zero subsidy is in play.

I love the way you criticise sha! No bad blood, no insult, no curse.

Weldon bra
Oga subsidy on forex or petrolume?
Re: No Subsidy Paid In January— Kachikwu by onatisi(m): 8:11am On Feb 03, 2016
Mynd44:

People just love oppose everything
The same way apc opposed every single thing gej was doing then. Apc opposition antics has driven Nigeria politics backwards and now the nation is more divided than ever . Apc used both the religious and tribal card to heat up the polity now do u expect ppl to just forget the past easily like that? It will take years and years for national spirit balance to be restored back into Nigerians. Every Nigerians now sees everything as north vs south and Christians vs Muslims

1 Like

Re: No Subsidy Paid In January— Kachikwu by Mrfahaz(m): 8:12am On Feb 03, 2016
Khd95:
all dis teamftc pple sevsad
. e pain am
Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 8:12am On Feb 03, 2016
banki:


What do you know about economics
What do you understand about expansionary budget?

Why on earth do you think the naira is falling against the dollar? What are you producing that brings you dollars? Apart from oil? Now that the price of oil has dropped world wide what exactly do you want

You that understands economics and support people that understand economics can you explain why at the peak of oil prices our reserves were depleted? No corresponding investment was made? And the naira fell to 200 against the dollar?

I tire for una matter
Simple answer CORRUPTION.

1 Like

Re: No Subsidy Paid In January— Kachikwu by erico2k2(m): 8:15am On Feb 03, 2016
Mynd44:

Does it make any sense to you that Nigeria imports rice and palm oil? We import canned meat and fish too.

Does it make sense that we also imports frozen fish and if not for the ban on poultry and fruit juices, we will be important those too.

Yes the initial prices of machinery will rise but in the long term, we gain.

As for raw materials, a lot of the things we import, we can make the raw materials by our darned self.

How can we be importing fabrics and leather footwear? We will almost be importing garri soon sef (joke)
Name one country in the west where all you mentioned are not imported plz.our problem was never import rather lack of economic policies to support exports

1 Like

Re: No Subsidy Paid In January— Kachikwu by Mrfahaz(m): 8:15am On Feb 03, 2016
xxgig:
Read and comment
. all these sarcasm illiterate sef
Re: No Subsidy Paid In January— Kachikwu by ademoladeji(m): 8:16am On Feb 03, 2016
erico2k2:
Oga subsidy on forex or petrolume?
Shey you dey report sey Govt still dey pay subsidy on PMS ni?
Re: No Subsidy Paid In January— Kachikwu by AlPeter: 8:16am On Feb 03, 2016
grandstar:


400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export
Most Raw materials for any kind of production can be sourced locally. Infact, go to faculties of Engineering in Nigerian Universities and you will understand better when I say we can develop the technology to meet our needs.
Re: No Subsidy Paid In January— Kachikwu by 989900: 8:17am On Feb 03, 2016
No news. We are actually paying petroleum tax; to whose pocket though?
Re: No Subsidy Paid In January— Kachikwu by 989900: 8:18am On Feb 03, 2016
AlPeter:
[s]Most Raw materials for any kind of production can be sourced locally. Infact, go to faculties of Engineering in Nigerian Universities and you will understand better when I say we can develop the technology to meet our needs.[/s]
Re: No Subsidy Paid In January— Kachikwu by Mynd44: 8:20am On Feb 03, 2016
erico2k2:

Name one country in the west where all you mentioned are not imported plz.our problem was never import rather lack of economic policies to support exports
There has to be a balance between imports and export and we have no semblance of balance at all. These western coubtries you talk about export and import. We only import and then export oil. Guess what, oil prices has crashed and thats the problem

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