adadadon:

With whose Funds... Government funds or money will fall from heaven......

It's like you did not do economics in secondary school.

Let me give you a refresher. The greater the quantity supplied the lower the price.

Currently, we pay government workers to do nothing. Their earnings come not from productive activities or taxes but from oil revenues. These unproductive workers spend their earnings on foreign goods putting pressure on the naira. They build houses with imported materials, taking jobs away from local producers.

We need to kick start our economy. If oil money is used to finance houses and houses are given out on 20 to 30 year loans, nigeria will be better for it. With more houses being built, efficiencies in building will be discovered leading to economies of scale, reducing the cost of building. This in turn together with increased supply of houses will lead to a cheaper mass housing.

adioolayi:
@op what's the price of petrol in most filling stations outside Lagos and Abuja before today's announcement

I don't think any protest will happen...Nigerians are tired of this incessant queues... The fuel marketers have gotten what they wanted...they should allow us rest!

Ur insensitive like APC led govt to poor Nigerians.

The implication of this new petrol pump price does not just affect the present but will definitely extend to the nearest future. Even if the subsidy fund eventually becomes diverted into other sector (of which the chances are slim), what will happen to other incoming government, will they follow suit? The worst that may happen is that at the end of the day, money realised from subsidy will be squandered and stories will be told. By then unless God intervenes, there may be no remedy, hike in price of everything will continue with little or no private sector investment, high tax break, and multiple job loses with little or no employment. These and many more are the implications

trillville:


It's like you did not do economics in secondary school.

Let me give you a refresher. The greater the quantity supplied the lower the price.

Currently, we pay government workers to do nothing. Their earnings come not from productive activities or taxes but from oil revenues. These unproductive workers spend their earnings on foreign goods putting pressure on the naira. They build houses with imported materials, taking jobs away from local producers.

We[b] need to kick start our economy. If oil money is used to finance houses and houses are given out on 20 to 30 year loans, nigeria will be better for it. With more houses being built, efficiencies in building will be discovered leading to economies of scale, reducing the cost of building. This in turn together with increased supply of houses will lead to a cheaper mass housing.[/b]

Your socialist cum error filled statement is obnoxious to say the least now. I hope you know we already have a federal mortgage bank of Nigeria that deals with building of houses for people and has consistently turned over humongous losses every financial quarter; despite this your economist brain decided to suggest an atrocious attempt at the government financing a communal effort that has failed as far back as the 90s. How many people have paid the FMBN loans they took in the 80s 90s and 2000s. Madness is dong the same thing over and over again and you are recommending it.
You are a pathetic disgrace to the Nigerian educational system and you can keep your woeful theoretical economist theory that is no good.

Have you heard of Cartels? Does Nigeria have anti-monopoly laws or pro competition laws? How does the government hope to tackle cartelization? HOW MANY PEOPLE HAVE THE FACILITIES, TANK FARMS AND A HORDE OF OTHER necessary equipment to import fuel.
The cache of idiocy pervading Nigeria's cyber space is bewildering.
You would have been better off suggesting a drastic reform of the Nigerian civil service or better still an aggressive implementation of the Ahmed Joda report on the Civil services and government parastatals.

That just the sweet turth about it.nigeria bad nor mean say I go run go kenya.

The difference between Goodluck Jonathan & Buhari is that while the 2011 elections bringing Good luck was highly democratic, Buhari was brought in by the Mob, Mobocracy! we now know whose interest he serves, juxtapose to know the glaring difference

trillville:


With less workers, fewer people will have steady incomes. Also fewer people will need to use their vehicles on a daily basis.

Fewer steady incomes leads to fewer people being able to purchase petrol.

I hope you understand better now.

Understand gini?

You claim to have studied economics in high school but this is not about economics but COMMON SENSE!

I just can't stop laughing at what you actually mean or meant or whatever....

Here, am reproducing it for you...

trillville:
The government has no easy choices to make. Either subsidies are removed or [b]government workers are fired. Both actions reduce the quantity of petrol demanded which will in turn lessen the pressure on the naira by the dollar.
[/b]I personally would have preferred bad government workers be fired. At least, hardworking private business people would not have been directly impacted by such job losses.

Let me ask you one simple arithmetic question....

From the total workforce in the country, that comprises of the private and public sectors, what is the Federal Government's percentage?

Hint: The Public Sector is composed of workforce from the Local, State and Federal Government.

adadadon:

Your socialist cum error filled statement is obnoxious to say the least now. I hope you know we already have a federal mortgage bank of Nigeria that deals with building of houses for people and has consistently turned over humongous losses every financial quarter; despite this your economist brain decided to suggest an atrocious attempt at the government financing a communal effort that has failed as far back as the 90s. How many people have paid the FMBN loans they took in the 80s 90s and 2000s. Madness is dong the same thing over and over again and you are recommending it.
You are a pathetic disgrace to the Nigerian educational system and you can keep your woeful theoretical economist theory that is no good.

Have you heard of Cartels? Does Nigeria have anti-monopoly laws or pro competition laws? How does the government hope to tackle cartelization? HOW MANY PEOPLE HAVE THE FACILITIES, TANK FARMS AND A HORDE OF OTHER necessary equipment to import fuel.
The cache of idiocy pervading Nigeria's cyber space is bewildering.
You would have been better off suggesting a drastic reform of the Nigerian civil service or better still an aggressive implementation of the Ahmed Joda report on the Civil services and government parastatals.

A democratically elected government's goal should be to satisfy the needs of majority of its people.

China is a socialist country and it's doing okay.

America, a capitalist nation, constructs low cost housing (the projects) for its poor people, be that at some sort of loss.

Israel is constantly constructing homes for its people.

There's a term called positive externalities which implies a third party benefits from an event in which the third party does not cover the costs.

There are many positive externalities derivable from the development of mass houses from improvements in hygiene which in turn leads to lower health care cost to attracting of new businesses an investments to service the newly created projects.

The socialism capitalism argument is already old and stale. It's for individuals born before the 80's. Look at the current leader of the labour party in the UK, Jeremy Corbyn. He is as socialist as they come. Checkout the US elections and the rise of Bernie Sanders, another socialist thinking man. Even Trump appeals to many in the socialist left so the world is changing and you have to keep up.

As for your cartel comment, I don't understand what you're talking about to be honest. No cartel in nigeria can be bigger than the Federal Government.

Your suggestion on the changing the civil service goes with my line of thinking. I am only suggesting we use the money we are currently spending on unproductive civil servants on productive activities such as mass building projects. At least we will see where our money is going and the country will be more developed.

kaboninc:


Understand gini?

You claim to have studied economics in high school but this is not about economics but COMMON SENSE!

I just can't stop laughing at what you actually mean or meant or whatever....

Here, am reproducing it for you...



Let me ask you one simple arithmetic question....

From the total workforce in the country, that comprises of the private and public sectors, what is the Federal Government's percentage?

Hint: The Public Sector is composed of workforce from the Local, State and Federal Government.

Haba Oga, think now. If federal government reduces it's workforce, the state governments struggling to pay salaries will also reduce their staff too.

70 percent of 6 trillion naira is being spent on recurrent expenses this year by the fg. That's a lot of money now. Please do the maths

trillville:


A democratically elected government's goal should be to satisfy the needs of majority of its people.

China is a socialist country and it's doing okay.

America, a capitalist nation, constructs low cost housing (the projects) for its poor people, be that at some sort of loss.

Israel is constantly constructing homes for its people.

There's a term called positive externalities which implies a third party benefits from an event in which the third party does not cover the costs.

There are many positive externalities derivable from the development of mass houses from improvements in hygiene which in turn leads to lower health care cost to attracting of new businesses an investments to service the newly created projects.

The socialism capitalism argument is already old and stale. It's for individuals born before the 80's. Look at the current leader of the labour party in the UK, Jeremy Corbyn. He is as socialist as they come. Checkout the US elections and the rise of Bernie Sanders, another socialist thinking man. Even Trump appeals to many in the socialist left so the world is changing and you have to keep up.
As for your cartel comment, I don't understand what you're talking about to be honest. No cartel in nigeria can be bigger than the Federal Government.

Your suggestion on the changing the civil service goes with my line of thinking. I am only suggesting we use the money we are currently spending on unproductive civil servants on productive activities such as mass building projects. At least we will see where our money is going and the country will be more developed.

Cartel need not be bigger/stronger than the government, they simply need to involve government officials. Asides that with Nigeria's feeble legislative prowess I Do not see how the country would be able to withstand such power play when it eventually comes.
Good idea with the mass housing construction scheme, but that will delve more in line with the State government and not the Federal government since the state government holds all land in trust for the people of Nigeria.