Bassee:

It's attitude. Times are harder for majority of Nigerians, cost of most goods and services will increase in days. Since more money would now be available to the FG, I thought I'd hear of plans to increase the minimum wage of the Nigerian worker cause their purchasing power has now been reduced by this increase. You can't just tell the people to endure the pain if you can actually do something to lighten their yoke.
But Labour is already negotiating with the govt for increase in workers wage.

Let's hear what the govt plans to do to ease the burden but removal of subsidy is the way to go.

Bassee:

It's attitude. Times are harder for majority of Nigerians, cost of most goods and services will increase in days. Since more money would now be available to the FG, I thought I'd hear of plans to increase the minimum wage of the Nigerian worker cause their purchasing power has now been reduced by this increase. You can't just tell the people to endure the pain if you can actually do something to lighten their yoke.
But Labour is already negotiating with the govt for increase in workers wage.

Oxenomy:
Me I'm not even pained by the fuel subsidy removal per se, what pains me most is the hypocrisy laden with the whole thing. Are these same ediots not the ones shouting palliative measures before removal of subsidy during GEJ administration? And I ask now, is there any palliative measure in place? .. What of increasing minimum wage to 30k-35k before the removal?.. Why will price of all commodities and essential services keep increasing with stagnant/decline of source of income of the masses?.... We are in for a long rough ride and it's unfortunate that our president is not a listening president.

DropShot:

The plan was right but he didn't have the trust of Nigeria not to waste the ploughed back subsidy.

If the scenario occurs again with GEJ at the helms, we will resist him. There lies the difference.

DropShot:

No sir. He had already proved to be Ineffectual since his days as acting president and later president in 2010.

LadyExcellency:


Tell me more, 7 months into his inauguration?

You are wrong, nobody questioned or came up with Jonathan's integrity after 7 months into his administration until your fake, sponsored and bigoted anti-deregulation protest.

His approval rating was at all time high of 70+ on December, 2011

DropShot:

No sir. He had already proved to be Ineffectual since his days as acting president and later president in 2010.

DropShot:

As I said, he would have been right and successful if he had not proved to be corrupt and ineffectual. End of story.

IzonOwei:
that's the scam. .how did dropshot and the rest of the apc followers know gej was to be corrupt or even corrupt........It now buharis turn and nigerians should endure...I can bet you that dropshot is far away from nigeria and enjoying himself somewhere

LadyExcellency:
The only write-up worthy of appreciation or/and reading now should be: Jonathan was right on subsidy removal.

Tell us the flaws of Ojota's sponsored bring-back our subsidy protest.

Condemn every opposition and demonization of Jonathan's administration on Subsidy removal January, 2012.

Blast every anti-deregulation cabal and opposition to Jonathan administration second push to total deregulation when he re-echoed it six months after the previous was defeated.

Do you know that the two challenges that escalated looting in Jonathan's administration was imposed on him? I mean fuel subsidy and Bokoharam. Both anti-deregulation and Bokoharam were sponsored to bring down Jonathan's administration and there they succeeded.

Let's for once appreciate some of the great policies of past administration.

DropShot:
Times are tough, no doubt. The situation we find ourselves as a nation is dire, no doubt. As the FG announced the new price regime for fuel pump price from 87 naira to 145 naira max, a lot of people including on this forum have criticized the action of the government and accusing it of insensitivity to the plight of the common man.

While this article is not deliberately focused on the past administration of GEJ and how it managed our resources, it’s nearly impossible to attempt to justify the current government’s action without needing to make reference to the oil boom period of 2011 to 2014. Had the immediate past administration judiciously utilized what we earned and what it inherited from OBJ/Yar’Adua, it’s very unlikely that we will find ourselves in this messy situation.

While I don’t oppose a government providing palliatives to its citizens to cushion effects of high cost of essential commodities, it makes no economic sense to do that if there are no resources to do it. Nigeria with a paltry $27 billion dollars in foreign reserves (GEJ met it at $47 billion, earned more than any president in Nigeria’s history, yet depleted it to abysmal level), $2 billion in Excess Crude Account, lacks the resources to subsidize fuel.

In the same way, it will be disastrous to support a corrupt regime to remove subsidy from essential commodities while the president watches helplessly as his foot soldiers defraud the citizens and enrich themselves corruptly. Numerous corruption cases ongoing is a reminder of how GEJ allowed the Dasukis, Bafarawas, Akpobolokemis, Mettuhs, Diezannis, Inde Dikos and many others steal us blind.

Brief History of Fuel Subsidy
Beginning from when OBJ re-introduced fuel subsidy in 2006 as a palliative for high landing cost of imported refined fuel, Nigeria has spent more than N6 trillion to subsidize fuel since then
*2006 – N151.9 billion; *2007- N188 billion; *2008 – N256.3billion (January to July); *2009 – N421.5billion; *2010 – N673 billion; *2011 – (N1.3 trillion)revised to N2.19 trillion; *2012 – N888 billion + N161.6 billion supplementary *2013 – N971 billion; and, *2014 – N971.1 billion
http://www.vanguardngr.com/2015/05/why-fuel-subsidy-must-go-2/
The amount spent on subsidy in 2015 was in excess of N1 trillion
http://www.dailytrust.com.ng/news/general/nigeria-spends-n1tr-on-fuel-subsidy-in-2015-kachikwu/124416.html

Why Fuel Subsidy Is Not Sustainable Now
It’s not a hidden fact that our earnings from crude sale has nose-dived; more than halved from what it used to be. The average crude price per barrel now is below 30$ since beginning of this year. When compared to an average of $90 to $100 for the four years of 2011 to 2014, no one need a rocket scientist to understand the money to subsidize the product is no longer there.

Throughout the world, all countries that have their economy largely dependent on crude oil have experienced economic set-back and most of them have taken drastic actions to cut back on their expenses on subsidy. Saudi Arabia, at the beginning of crude price fall had more than $600 billion in foreign reserves, yet she increased fuel pump price by 50% http://money.cnn.com/2016/01/05/news/economy/saudi-arabia-oil-budget-gas/.

Qatar increased fuel price by about 35% and still planning to increase it further, UAE and many other Gulf countries refine their own crude locally, can afford to keep subsidy, yet have all removed some subsidy from petroleum products. The only places where fuel prices have gone down since crude price crash are the economies that were not enjoying any form of subsidy when crude price was high.

Going by this summation, it amounts to irrationality, lack of having any grasp about happenings in the world economy, or pure and deliberate emotional blackmail to expect Nigeria to be able to keep subsidizing fuel especially with her current economic recession.

Why Nigerians Were Right to Oppose GEJ’s Subsidy Removal in 2012
I, among many other Nigerians were opposed to GEJ’s plan to remove subsidy from petrol in 2012 and here are some of the reasons:

1. GEJ by then had already proved to be shamelessly corrupt and lacking the political will to stem the tide. So, we were right to believe that the subsidy to be removed will still end up being looted one way or the other. Events since after the partial removal have proved us right as not a single measure of the promised palliatives was fulfilled. No mass transit buses. No new refineries as promised. No new roads built as promised.

OP, I was reading the write-up meticulously when the highlighted got my attention.. You're indeed a man of in-dept thinking

Oxenomy:
Me I'm not even pained by the fuel subsidy removal per se, what pains me most is the hypocrisy laden with the whole thing. Are these same ediots not the ones shouting palliative measures before removal of subsidy during GEJ administration? And I ask now, is there any palliative measure in place? .. What of increasing minimum wage to 30k-35k before the removal?.. Why will price of all commodities and essential services keep increasing with stagnant/decline of source of income of the masses?.... We are in for a long rough ride and it's unfortunate that our president is not a listening president.

LadyExcellency:
The only write-up worthy of appreciation or/and reading now should be: Jonathan was right on subsidy removal.

Tell us the flaws of Ojota's sponsored bring-back our subsidy protest.

Condemn every opposition and demonization of Jonathan's administration on Subsidy removal January, 2012.

Blast every anti-deregulation cabal and opposition to Jonathan administration second push to total deregulation when he re-echoed it six months after the previous was defeated.

Do you know that the two challenges that escalated looting in Jonathan's administration was imposed on him? I mean fuel subsidy and Bokoharam. Both anti-deregulation and Bokoharam were sponsored to bring down Jonathan's administration and there they succeeded.

Let's for once appreciate some of the great policies of past administration.

DropShot:

As I said, he would have been right and successful if he had not proved to be corrupt and ineffectual. End of story.

DropShot:

No sir. He had already proved to be Ineffectual since his days as acting president and later president in 2010.

Nnemuka:

****
How is he corrupt? has he been indicted ever since the anti corruption crusade?
was he among the panama tax evaders?
was he mentioned to own a house in london?
what really was his crime?

shameless people littered everywhere on nairaland trying to justify what was condemned during GEJ's tenure.
Are you rational at all?
Are living in Nigeria? do you know what it means to buy petrol at 145/pl when minimum wage is 18000.
have you been to the market lately? ****