Fourwinds:
come , do you know how many that earn #30000 monthly? How do they survive if what you are saying is implemented. I know of a friend who is a graduate.. The money he earns can no long carter for the family... He left his family in the town and went to the village to do farming

This, I think, is the reason where we will never have an honest leader who will make things work. We tend to apply 'human factor' in every aspect of our lives. The reality is, we will never move forward without enduring some hardship, and I mean a lot of it. Things will be hard at first, but as the time goes on, it will get better.

Paroh:


It's 09099297379

Seen

Well done Buhari

which subsidy again?... the same that the redundant coupist removed and promised to revamp and build new refineries among other things?


the shithole is acutely bereft of sane leaders!

The jumbo salaries and allowances of the Assembly men both at National and State levels should be slashed by 50%.How can a Senator earn 35m per month? What is his level of input to the economy. Nigeria is not serious to move forward as a Nation.

Nonsense

Useless government

He spoke the truth by advising Buhari to quit subsidy on petroleum product and electricity in order for the country not to be bankruptcy..

But this decision will be very difficult to make by any ruling party due to suffering of Nigerians and it'll also be politicize by opposition parties.

But they said that corruption was the biggest problem facing Nigeria and were voted in to fight it. So what is the complaint. Has the fall in stealing not been enough to prosper Nigeria?

Once again back to the Vice-Presidential debate of a year ago....Mr Veepee declared that he preferred to leave his business and sleep in the police station because his shop was burgled. That is the summary of this government and that is what is expected this next 4 years. No work, scant productivity and a shop closed for business while they chase rats.

Enjoy. When the bank comes for repayment of the loans taken to stock the shop, declare 'force majeur' that your shop was burgled and they will let you free abi?

Ignorant people, dishonest government.

Tocynone:
Thank you former CBN Emir

thank you sir! all these failure is as a result of incompetency from the govt of the day! Mr President Is Not Educationally sound, his Advicers, and Ministers As Well(all because of sentiments), How Can A Govt borrow every year to finance it's budget? why is there still subsidy despite the lies? why can't we have our refinaries working? security challenges every were due to herdsmen invation thus disrupting reasonable peoples(IPOB) business that can help in increasing employment. Nigeria Is Cursed Under APC.

tactius:


Most Nigerians don't earn much...that I know.

Problem is, if we continue with subsidy with the poor revenue we are getting from oil....we may reach a point where we are so broke that increasing prices would be something that has to be done to prevent us from being bankrupt.

And your friend will still end up paying high prices for power and fuel.

It's the harsh choice we have to make...save money or spend money we don;t have.

As I have said earlier...it;s an argument I don;t like making.

many of you are not seeing what a responsible should have done as palliatives.. Build two or three refineries and than open the market for investors for competition simple

If only the elites can cut down on their excesses, this idea would have been a very good one. But, at the end of the day, the politicians will only have more money to cater for their profligate lifestyle, and not for read development of the country.

If Dem remove subsidy, na una go still dey shout and curse Buhari upandan
Shameless double-faced people
Spit!!

Mccullum:
He spoke the truth by advising Buhari to quit subsidy on petroleum product and electricity in order for the country not to be bankruptcy..

But this decision will be very difficult to make by any ruling party due to suffering of Nigerians and it'll also be politicize by opposition parties.

They had a significant chance to remove subsidies on the dollar, petroleum and electrcity when political capital was high in April 2015, when the citizens were caught up in the hype and propaganda to notice and resist and boy did we shout ourselves hoarse back then but they couldn't because the APC had its shoelaces in a twist by ealier on its life berating the propsals by the GEJ government to bell the cat.

If they were wise they could have let GEJ do it, take the flak and get booted out as desert, then tje APC could have taken the glory for the gains which would have been evident by now. But the ghost of their scaremongering will not allow them to take even the faintest of steps towards restructuring government finances.

Then you have Almighty President Buhari and the albatross of his tunnel vision held since 1985 that corruption is all the problem Nigeria has. This will be his greatest undoing, his inability to broaden his perspective to grasp far deeper and more detailed structural problems Nigeria faces. So the government is in denial.

Even the cerebral Veepee is swept away in denial telling folks in the US that security challenges are exerggerated courtesy of social media and Nigeria doesn't need structural reflection.... his idea.....hear his unbelievable statement, that Nigeria's poverty results from challenges of resource distribution. Can you imagine this....

Just when we thought the ghost of Gowon's infamous, '...our problem is how to spend it....' was dead and buried, 50 years later a head of government is still saying this.... and we expect Nigeria to get better with this mentality....

Bbbwings:
Stfu and enjoy next level
America is in a trillion dollar debt.
And boy do they navigate around it by printing more money
Emeifele get to work.

This is the lie you people tell ignorant people, incomplete information to soothe your empty rhetorics

Fourwinds:
many of you are not seeing what a responsible should have done as palliatives.. Build two or three refineries and than open the market for investors for competition simple

Government cannot build new refinereis...because of the matter of subsidy.

Subsidy works this way. I import fuel at N200 per liter, and sell at N145 per liter to marketers, while government pays the N65 balance. Meaning I cannot make a profit (this is what NNPC has been doing for the last 4 years. Before it was marketers).

Plus, as the price of imported fuel keeps on going up,,,,,so also the cost of the subsidy of fuel per liter.

Building a refinery would be basically like building a big loss making machine. NNPC would build a refinery, and then be refinig fuel at N165 and selling it at N145 to marketers. Meaning NNPC cannot make a profit...meaning it won;t be able to maintain refienreis or build new ones adequately...which leads to job and investment losses.

Or let me explain it to you more simpler..

I am selling shirts. I buy my shirts at N5000 and plan to sell at N6000. Government steps in and forces me to sell at N3000 , while they pay me N2000 as subsidy. The shirts are made in Nigeria, but because of rising labor costs in making the shirts....the cost then goes up to N7000, and government pays me N4000. Next year, shirts go up to N8000...and the subsidy costs increase...and I am not making a profit at all...and the shirt manufacturer is losing money and has to cut jobs because I cannot pay her, or pay workers.

The best incentive you can give to any investor is to allow him or her make a profit. If you cannot allow a profit to be made...things would get harder.

We spend 1.5 trillion on subsidy by the way. Yearly...money that could have been used for other things. And NNPC is not making a profit.

tactius:


Government cannot build new refinereis...because of the matter of subsidy.

Subsidy works this way. I import fuel at N200 per liter, and sell at N145 per liter to marketers, while government pays the N65 balance. Meaning I cannot make a profit (this is what NNPC has been doing for the last 4 years. Before it was marketers).

Plus, as the price of imported fuel keeps on going up,,,,,so also the cost of the subsidy of fuel per liter.

Building a refinery would be basically like building a big loss making machine. NNPC would build a refinery, and then be refinig fuel at N165 and selling it at N145 to marketers. Meaning NNPC cannot make a profit...meaning it won;t be able to maintain refienreis or build new ones adequately...which leads to job and investment losses.

Or let me explain it to you more simpler..

I am selling shirts. I buy my shirts at N5000 and plan to sell at N6000. Government steps in and forces me to sell at N3000 , while they pay me N2000 as subsidy. The shirts are made in Nigeria, but because of rising labor costs in making the shirts....the cost then goes up to N7000, and government pays me N4000. Next year, shirts go up to N8000...and the subsidy costs increase...and I am not making a profit at all...and the shirt manufacturer is losing money and has to cut jobs because I cannot pay her, or pay workers.

The best incentive you can give to any investor is to allow him or her make a profit. If you cannot allow a profit to be made...things would get harder.

We spend 1.5 trillion on subsidy by the way. Yearly...money that could have been used for other things. And NNPC is not making a profit.

see it is you who don't understand ... NNPC build refinary , then they can sell at #170 which is understandable... We know with time prices will fall... But allow investors to build, they will lie that it is #300 and they only have a gain of #2. Who is deceiving who? You think i don't know capitalist? They are selfish

tactius:


He has proposed a solution.

Stop subsidising fuel. Stop setting prices for electiricity power.

Allow marketers to set the price for fuel, and DISCOS to set the tarrif for electricity.

Meanwhile, government increases its savings as a result...because they are no longer throwing money on keeping petrol prices low, and electiricty prices low too.Some of that money can be spent on health, education, and public transport (railways)

This would long term attract more investors into the petroleum and electricity power sector...since government is no longer controlling prices in the name of subsidy, they would be able to make profits....which at the end of the day means more jobs, better power supply, no more fuel scarcity...more refineries, etc.

In the short term, prices of fuel would shoot up to above N200 or more. Fuel might be even more expensive in some parts of the country compared to other parts. Electricity bills too would shoot up...BUT ...as investment flows in, prices would eventually drop.

Every thing you said is true but I can guarantee you by 110% that the growth in Government savings is not proportional to economic growth of Nigeria.

You know why? The same problems we have before are still prevalent and there is no transparent and how every kobo is spent.

The money will be mismanaged and even a Messiah from heaven cannot save us at that point.

Our root problem is mismanagement, cutting of branches of our problem by removing fuel subsidy will only salvage the Nation further.

jesuchristi:
The jumbo salaries and allowances of the Assembly men both at National and State levels should be slashed by 50%.How can a Senator earn 35m per month? What is his level of input to the economy. Nigeria is not serious to move forward as a Nation.

Oga, stop being ignorant. How much is the budget of the entire National Assembly. Reduce it to zero and it still will not prosper Nigeria. Stop falling for cheap, herd mentalism based on speculative basement propaganda and do the simple arithmentic.

Our problem is that of productivity. We are not making enough money as a country to sustain ourselves in the kind of lifestyle we expect to have based on the crude oil propaganda. Lifestyle means cheap oil, free education, cheap imported goods, cheap electricity and other stuff that makes a typical humanoid lazy and unproductive. We produce scant little of what we consume BECAUSE THE GOVERNMENT SUBSIDISES THE DOLLAR making production of stuff worthless in Nigeria.

We have no jobs because the emergency job switch foreign governments use to stimulate their economies, investing in infrastructure is not a job creator in Nigeria because we import everything we use to build infrastructure and we then give out so called infrastructure contracts not to Nigerians without jobs but to multinationals catalysing capital flight. I call it the 'Julius Berger phenomenon.

These are the issues serious governments should look at. How to get Nigerians working, making stuff, building stuff, researching stuff, cultivating stuff.

DuBLINGreenb:
Stop mongering fear instead profer SOLUTIONS.

He did. He usually almost always does. Did you read only the headline?

Fourwinds:
see it is you who don't understand ... NNPC build refinary , then they can sell at #170 which is understandable... We know with time prices will fall... But allow investors to build, they will lie that it is #300 and they only have a gain of #2. Who is deceiving who? You think i don't know capitalist? They are selfish

NNPC cannot sell fuel at N170 per liter for ever...prices would have to go up because....workers salaries have to be increased, and upgrades to the refinereis have to be made.

Capitalists are selfish...but they also use the money to reinvest in the economy...which usually means more jobs. Capitalists don't juist go and sit on the money they make.

truthsayer009:


Every thing you said is true but I can guarantee you by 110% that the growth in Government savings is not proportional to economic growth of Nigeria.

You know why? The same problems we have before are still prevalent and there is no transparent and how every kobo is spent.

The money will be mismanaged and even a Messiah from heaven cannot save us at that point.

Our root problem is mismanagement, cutting of branches of our problem by removing fuel subsidy will only salvage the Nation further.

That's why we are a democracy.

The thing about democracy is that it isn't just about going to vote and coming home...it is about also mounting pressure on your leaders to do better...as well as in some instances running for office

Democracy is hard work. That is something Nigerians haven't gotten ahold of yet...and a big part of the reason why corrupt polticans run circles round us.

tactius:


Government cannot build new refinereis...because of the matter of subsidy.

Subsidy works this way. I import fuel at N200 per liter, and sell at N145 per liter to marketers, while government pays the N65 balance. Meaning I cannot make a profit (this is what NNPC has been doing for the last 4 years. Before it was marketers).

Plus, as the price of imported fuel keeps on going up,,,,,so also the cost of the subsidy of fuel per liter.

Building a refinery would be basically like building a big loss making machine. NNPC would build a refinery, and then be refinig fuel at N165 and selling it at N145 to marketers. Meaning NNPC cannot make a profit...meaning it won;t be able to maintain refienreis or build new ones adequately...which leads to job and investment losses.

Or let me explain it to you more simpler..

I am selling shirts. I buy my shirts at N5000 and plan to sell at N6000. Government steps in and forces me to sell at N3000 , while they pay me N2000 as subsidy. The shirts are made in Nigeria, but because of rising labor costs in making the shirts....the cost then goes up to N7000, and government pays me N4000. Next year, shirts go up to N8000...and the subsidy costs increase...and I am not making a profit at all...and the shirt manufacturer is losing money and has to cut jobs because I cannot pay her, or pay workers.

The best incentive you can give to any investor is to allow him or her make a profit. If you cannot allow a profit to be made...things would get harder.

We spend 1.5 trillion on subsidy by the way. Yearly...money that could have been used for other things. And NNPC is not making a profit.

Oga, you are just wasting your time on empty headed Nigerians and their clueless government. One thing for sure. If a man cannot learn in the classroom he will learn in the workshop. If he cannot understand theory, he will understand by consequential practicality. Of necessity Nigerians will learn tne HARD WAY how an economy can be made to work and how an economy can catastrophically fail. With time they will learn how to run government, how to demand for right moves.

In the interim you will shout yourself hoarse. The World Bank has warned. The IMF has warned, the United States has warned, the European Union has warned. It appears only this government and its Chinese collaborators know something the rest of the world doesn't...hmmm

tactius:


That's why we are a democracy.

The thing about democracy is that it isn't just about going to vote and coming home...it is about also mounting pressure on your leaders to do better...as well as in some instances running for office

Democracy is hard work. That is something Nigerians haven't gotten ahold of yet...and a big part of the reason why corrupt polticans run circles round us.

Exactly, so the democracy you desire or speak of is not upon us yet. Until then, let us continue to wallow in subsidy.

Millions in the North who are uneducated control the electoral votes, we need to educate people first.

tactius:


NNPC cannot sell fuel at N170 per liter for ever...prices would have to go up because....workers salaries have to be increased, and upgrades to the refinereis have to be made.

Capitalists are selfish...but they also use the money to reinvest in the economy...which usually means more jobs. Capitalists don't juist go and sit on the money they make.

my friend, if you producing cassava and processing it into garri, you won't have to sell at exorbitant price because it is not imported. That is my solution for NNPC... Talking about salary increase, if your currency and economy is stable , you won't talk about salary increase because inflation will be down...

Joromi12:
so that fuel will be 200 ba, useless emir. the opportunity cos of subsidy is embezzlement

That's the fear of most Nigerians. Eliminating subsidy doesn't always GUARANTEE to more better life for ALL Nigerians. It could also mean more money to be siphoned by Corrupt politicians (almost a tautology) — and more hardship for the average Nigerian.

Many Nigerians see subsidies (if it really exist ) as their sole REAL benefit from the Nigerian government.

Fourwinds:
my friend, if you producing cassava and processing it into garri, you won't have to sell at exorbitant price because it is not imported. That is my solution for NNPC... Talking about salary increase, if your currency and economy is stable , you won't talk about salary increase because inflation will be down...

And what if the workers who are processing the garri for you demand higher salaries??

What if you need to expand the garri processing business ??

Where do you get the funds?

And the only way to bring down inflation is by improving power so that we can be a manufacturing power which we cannot do because the billions we would have spent on power are not being earned due to subsidy.

DuBLINGreenb:
Stop mongering fear instead profer SOLUTIONS.

You obviously read only the title of the report, that explains why you could only come up with this.

.

According to him, “since I have decided to come here, you have to accept what I have said here. And please, if you do not want to here the truth, never invite me.
This is the best part SLS

This man should shut up and allow us enjoy subsidy. After all, it government doesn't pay subsidy, it will only enrich those in power.

Egbami! See who is talking.

tactius:


And what if the workers who are processing the garri for you demand higher salaries??

What if you need to expand the garri processing business ??

Where do you get the funds?

And the only way to bring down inflation is by improving power so that we can be a manufacturing power which we cannot do because the billions we would have spent on power are not being earned due to subsidy.

tell me the private hands that are handling the power what have they done..it was cronies of government officials that bought then and you expect miracle ...guy your government is not sincere neither the electricity owners....common metres they cannt give consumers.. Let me tell you the truth. Their primary goal is to exploit the consumers.. Nothing else