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Nairaland Forum / Nairaland / General / Politics / $8bn Subsidy Set To Go As Oil Price Tumbles Further (681 Views)
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$8bn Subsidy Set To Go As Oil Price Tumbles Further by Adesiji77: 12:54pm On Dec 26, 2014 |
Collapsing oil prices that have slashed Nigeria’s revenue and roiled currency and stock markets in Africa’s biggest economy may also have a silver lining, offering the country the best possible environment to scrap controversial fuel subsidies that cost as much as $8 billion a year. It’s an opportunity President Goodluck Jonathan who faces a tough election in February and is thus concerned that such a move would provoke protests, may seize if he is re-elected, analysts say. |
Re: $8bn Subsidy Set To Go As Oil Price Tumbles Further by LRNZH(m): 1:03pm On Dec 26, 2014 |
The issue has always been missed by international commentators. We are not against subsidy removal. But what is the incentive when the savings will further add to the pocket of the looters? Since the subsidy protests of January 2012 what has the govt done to aid local refining? The dividends of the partial subsidy removal is yet to be seen. Bunkering is at its highest level ever with militants and ex-militants guarding oil installation for the govt. Nothing is been done to fight corruption. Absolutely Nothing. This is just another useless IMF policy that wants the masses to make sacrifices but does not require prudence from the government as usual. We are not deceived. Sai Buhari. Buhari opposed IMF in 1984 and he will do it for the good of Nigeria again. 2 Likes |
Re: $8bn Subsidy Set To Go As Oil Price Tumbles Further by blackfase(m): 2:05pm On Dec 26, 2014 |
The whole thing is so confusing, like the more you stare the less you see afterall why hasnt diesel come down to say N100 if truely subsidy has any significance with pump price controls. Thieves! 2 Likes |
Re: $8bn Subsidy Set To Go As Oil Price Tumbles Further by Nobody: 2:14pm On Dec 26, 2014 |
If Govt can do the following I will support subsidy removal Reduce the cost of Govt Sell off some of GEJ private jets if its true he has more than 1 reduce the wage bill of the NASS and State Legislators If we have not done the above, then it is too easy to talk about subsidy removal. Make no mistake if subsidy is removed the immediate impact will be felt by the poor, subsidy removal is a tax hike on the poor. No Government should be proposing a tax hike on the poor when our legislators are on criminal wages. We are all in this together! |
Re: $8bn Subsidy Set To Go As Oil Price Tumbles Further by Alphaoscar: 2:15pm On Dec 26, 2014 |
freshest air from the clueless Rev. Jonah . |
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