tauceti23:
In 2012, Nigerians were told that subsidy has to go. Nigerians protested, rioted, and the subsidy was brought back under a different name.

Now, we are at the point where we have no choice because

1.We are losing billions to smuggling of cheap fuel

2.We have virtually limited investment in new refienreis because no one is going to come and build refinereis with price controls so low

3.We are running out of spare cash to keep fuel prices low. Oil is not as high as it used to be

4.We don't have a high tax to gdp ratio to pay for subsidies


So, inasmuch as I don't like APC, and think they have failed...it is time we said goodbye to subsidy.

Or we keep on taking loans and more loans to make up for the money lost for paying subsides.

And look, we can remove Buhari tomorrow.,....we can bring back GEJ, we can split the country, we can do whatever...but it still does not change the fact that we cannot keep on subsidisng fuel, or lying to ourselves by partially removing subsidy and bringing it back when prices rise.

All our neighbours, including the oil producers pay higher

Time we faced reality.


P.S If you abuse me, I report you to the mods. And any questions will be met with the response: Go and read about subsidy and why it is bad...and also 'How should we fund a subsidy'. I have supported subsidy removal since 2012. And I think it is high time we woke up to the fact.

Again any abuse will be reported to the mods.

PS.2 By abuse, I do not mean that you cannot disagree with me...but please do so politely. But any name calling, or personal insults without addresing the facts would be reported. Thank you

What about reducing the cost of governance, by minimizing the number of politicians feeding fat on the country's lean resources?

Why did your analysis not consider that, instead of enthusing on and approving the putting of additional burden on the already overwhelmed poor citizens of the nation?

Must it be just oil? This government as refused other meaningful means to get more money. Agriculture is there, yet it as been negelated. Individuals who choose to go into agriculture,which can reduce the prices of food stuffs are even scared of going to their farms because this same government as refused to do anything on security. Sadly we are in for tough times, because we have leaders who are insensitive to the sufferings of their people.

[quote author=eseelvis post=101915601][/quote]

membranus:


What about reducing the cost of governance, by minimizing the number of politicians feeding fat on the country's lean resources?

Why did your analysis not consider that, instead of enthusing on and approving the putting of additional burden on the already overwhelmed poor citizens of the nation?

Well, the problem is that the cost of subsidy keeps rising because the cost of production of fuel keeps rising.

Even if we cut the cost of governance, it would give us, at best, a sum of money that can only subsidsie fuel for a year or two..if not less, because at the end of the day, the cost of production, and by extension the actual fuel price, will keep rising.

Add the fact that we cannot spend money saved from cutting cost of government just on subsidy...health, educaiton, sport, etc etc all have needs too. Our transmisson system for power needs replacing too.

In developed countries, subsidies are paid for via taxes. Here, we pay for subsides from the revenue we get from selling crude oil which at the moment is not enough due to falling oil prices since 2014.

Therein lies the problem. Either we tax more and more people (at present 30% of the taxable populaiton is actually taxed) to get the revenue we need to subsidsie fuel, or we remove subsides, and hope that the resulting increased investment and more refienreis leads to price reduction in the long term by competition

(In a way, this proposed subsidy removal is not total yet...government is still setting the prices. Personally, government should not set prices...the market should)

eamodu:
Must it be just oil? This government as refused other meaningful means to get more money. Agriculture is there, yet it as been negelated. Individuals who choose to go into agriculture,which can reduce the prices of food stuffs are even scared of going to their farms because this same government as refused to do anything on security. Sadly we are in for tough times, because we have leaders who are insensitive to the sufferings of their people.

1.Agriculture, even removing the security issues....cannot produce enough to earn more revenue for Nigeria...unless production came from highly mechanized farms.
Agric was an earner...back in the 1960's WHEN we had a guaranteed market in the UK and when we had no comeptitors. Now, we have comeptitiors , plus the UK is no longer our guaranteed market...since the 1970's

2.If we keep the subsidy, we will keep on spending money we don't have to pay for it...meaning more and more loans. (We can avoid the removal of subsidy by raising taxes and the number of people who payt taxes to fund it...but Nigerians won't like that)

It will help in reducing the prices of agricultural produce. People may not feel the effects of this subsidy move ,if food is in supplus and not that expensive. And if taken seriously by the government, just like you said by way of mechanized farming it will go a long way in generating revenue and producing jobs to Nigerians.. through agriculture,industries could spring up and we could just be on our way to exporting and having more money to settle some problems in Nigeria.

1.Agriculture, even removing the security issues....cannot produce enough to earn more revenue for Nigeria...unless production came from highly mechanized farms.
Agric was an earner...back in the 1960's WHEN we had a guaranteed market in the UK and when we had no comeptitors. Now, we have comeptitiors , plus the UK is no longer our guaranteed market...since the 1970's

2.If we keep the subsidy, we will keep on spending money we don't have to pay for it...meaning more and more loans. (We can avoid the removal of subsidy by raising taxes and the number of people who payt taxes to fund it...but Nigerians won't like that)[/quote]

InvertedHammer:
/
Can they start immediately please.

Nigerians love to learn the hard way. I love it.

They will first make it scarce. Lines at the filling stations will be long to the point that Nigerians will gladly pay N400/L if they see petrol. Then it becomes the price The resultant inflation in commodities will be out of this world. A bag of rice at N45,000? Use your imagination.

I doubt if BMC will get upward review of their stipends
/

So, what's the alternative...keep on paying subsides at a cost to our already limited revenue.?

Keep on taking loans and more loans to make up for the increasing amount of money we pay as subsidy ?

Raise taxes to raise the revenues for us to subsidse fuel enough?

Keep on allowing the mass smuggling of cheap fuel out of the country at a cost of billions to our pockets?

Run all the refienreis at a loss in the name of subsidy...we have bad refienreis because subsidy meant we ran them at a loss ,meaning no cash for fixing them or upgrading them?

Keep on forcing NNPC to run at a loss to subsidse fuel?


I know subsidy removal is harsh....but the truth is, not removing subsidy is also harsh.



We should have so done this since 2012 , if not even earlier when we had the oil revenue from high oil prices to cushion things.

At some point, we have to accept reality.

why not pick up Guns or order the military and police to go on a shooting spray on us all....stupid government

Hamiltonii:


I like your comment.

Thanks mehn

Pls saint unknown gun men locate this selfish and lazy leaders so that we the masses will breathe fresh air.

adioolayi:
We are in big mess!!!

The truth is, subsidy is not sustainable anymore....The governors are clueless, no alternative source of money, except what they get from federation account, which largely depends of oil sales.


If FG continue to subsidize fuel, it means , no money in federation account to be shared with governors...and ultimately, NO SALARIES to State wprkforce.!!!

Big Wahala dey....If they now take the courage to remove subsidy, yes, there will be money to share in federation account and they will be able to pay salaries.....

Now the big one....If subsidy is removed, prices of petrol will skyrocket and other prices of common commodities , including transportation costs will INCREASE!!!

The workers salaries will remain the same, non government workers will have to pay through their nose with fixed income...Poverty level go increase...as a matter of fact, everything go scatter!!!


What is the solution Sincerely...I don't know!!!

The solution is a drastic cut in governance... i suggest switching to parliamentary system as it is cheaper and will help manage our diversity. Full blown resource control is now a necessity, no more giving money to the center. Some states will likely have to merge, as they can no longer afford to run again. Land use act must be reformed or repealed totally. And lastly, the exclusive list needs to be replaced with one that gives states more power

houseontherock:
After settling their family members, girlfriends and Political touts, I wonder where they expect
the rest of us to get the money to fuel our cars and generators. Even the BMC will regret supporting this bad luck government. It's getting to the point where the poor will start eating the rich

We regret 2015's election. If they carry out their plan of 385naira per liter, they should expect more insecurity.

samdunzo:


The solution is a drastic cut in governance... i suggest switching to parliamentary system as it is cheaper and will help manage our diversity. Full blown resource control is now a necessity, no more giving money to the center. Some states will likely have to merge, as they can no longer afford to run again. Land use act must be reformed or repealed totally. And lastly, the exclusive list needs to be replaced with one that gives states more power

I think I will support more of going back to the regional system of governance. Either ways...This current system is not yielding any meaningful results. Nigeria as a Federation seems to be too big to handle by just the centre power. There is need for devolution of power. The early we start this reformation or restructuring, the better.
God bless Nigeria

My question is...how did China, with no natural mineral resources, made it.

Are they another variant of human species?? Pls I want to know

So basically, we are fvcked

tauceti23:


Well, the problem is that the cost of subsidy keeps rising because the cost of production of fuel keeps rising.

Even if we cut the cost of governance, it would give us, at best, a sum of money that can only subsidsie fuel for a year or two..if not less, because at the end of the day, the cost of production, and by extension the actual fuel price, will keep rising.

Add the fact that we cannot spend money saved from cutting cost of government just on subsidy...health, educaiton, sport, etc etc all have needs too. Our transmisson system for power needs replacing too.

In developed countries, subsidies are paid for via taxes. Here, we pay for subsides from the revenue we get from selling crude oil which at the moment is not enough due to falling oil prices since 2014.

Therein lies the problem. Either we tax more and more people (at present 30% of the taxable populaiton is actually taxed) to get the revenue we need to subsidsie fuel, or we remove subsides, and hope that the resulting increased investment and more refienreis leads to price reduction in the long term by competition

(In a way, this proposed subsidy removal is not total yet...government is still setting the prices. Personally, government should not set prices...the market should)

I noticed you just registered today, and I have read all your big grammar. And as usual just like many before you here and in governance, y'all are very good at making untenable excuses rather than doing what needs to be done. Many have talked about reducing cost of governance, you belittled it! Many talked about why all talk but no action on diversification, you sweet-talked there too! In your world, subsidy removal will cure Nigeria of all the ills including the quantum level of corruption that will still hold sway long after subsidy removal. Like all the excess that will be generated has even a 10% chance of trickling down to the average Nigerian. Very funny, you. What say ye about the pathetic exchange rate? not of importance? who is to be held responsible for that? Cos whether crude is high or low there is no respite for Nigerians buying fuel as it is expensive regardless, due to the fact that the benchmark is the greenback and the naira is shit. Sadly the fuel is important cos in Nigeria we live in the stone age, where the fuel is needed for sustenance of virtually everything else. Remember that before yu tell me how much fuel is sold in Ghana, Mr writer failing to consider purchasing power parity, and the available infrastructure. Hw much did you fuel your gen in Ghana last night, Mr writer? or your shop? what is the misery index in Ghana, Mr writer? Is Ghana poverty champion of the world, Mr writer? OH THE TALES, back then too about foreign rice vs naija rice..why is the price difference btw both just 1k today? we shd give it more time i guess. I'm sure that will be your new tune when the subsidy removal is effected and nothing changes positively, and it becomes clear that subsidy removal is not the cure to the cancer that is the mal-administrated, directionless, corrupt, evil , wasteful govt of Nigeria. My joy is we will all buy it together. My sadness is some zombies wont feel the pangs at the gas station cos someone else is paying, but at least they will feel it on every other goods/services out there. Lets keep blowing non-impactful grammar, my guy.

tauceti23:


1.NNPC is 'fixing' the refinereis

2.Yes we should cut down on excess cost of governance, but is it only on subsidisng fuel we go spend am? Plus, subsidy costs rise with the rising cost of pordcution of fuel

3.Borders are already reopened.

4.If you want the railways to generate funds, privatise it. (Which most Nigerians don't like)

fixing it since 6years why is it so since we know this is the mean thing that is keeping our economy running,

when we cut down on cost the will not be pressure to grab power and intelligent ones can vie for it too.

Borders which one all or few which is of no use opening borders that does not transit business.

Is the major rail way working first we have many ways to generate Money to fund anything we want here in Nigeria but we have selfish leaders, lazy and unsmart ones imagine how broke we are know because of stupid decisions of our leaders

adioolayi:



I think I will support more of going back to the regional system of governance. Either ways...This current system is not yielding any meaningful results. Nigeria as a Federation seems to be too big to handle by just the centre power. There is need for devolution of power. The early we start this reformation or restructuring, the better.
God bless Nigeria

True. Either one will work really, but I think given the diversity of the country, its best we use states.

Gilbertase:
I noticed you just registered today

,

I've been around a while...lurker and non-lurker

and I have read all your big grammar

Thank you

.

And as usual just like many before you here and in governance, y'all are very good at making untenable excuses rather than doing what needs to be done

I don't think I am excusing anything...

.

Many have talked about reducing cost of governance, you belittled it

Because reducing the cost of governance won't provide enoough cash to cover subsidies....and once the money from reducing the cost of governance is finished, what next?

Raise taxes, or pray to the God for oil to reach $140 PER barrel as it did in 2008...and no, I am not joking.

! Many talked about why all talk but no action on diversification, you sweet-talked there too!

If saying the government has failed on diversificaiton is sweet talking, then I must be the long lost king of denmark...

In your world, subsidy removal will cure Nigeria of all the ills including the quantum level of corruption that will still hold sway long after subsidy removal

It would certianly lead to 1) more savings 2) more investment in refinereis which means more jobs and more money and more revenue 3) would end the corruption around subsidies like false claims, mispent money, smuggling of cheap fuel

It won't end corruption, that's on you and me and every other Nigerian to vote out PDP and APC, or to work within the system


.

Like all the excess that will be generated has even a 10% chance of trickling down to the average Nigerian. Very funny, you. What say ye about the pathetic exchange rate? not of importance? who is to be held responsible for that?

The government , dear sir? Moving on...

Cos whether crude is high or low there is no respite for Nigerians buying fuel as it is expensive regardless, due to the fact that the benchmark is the greenback and the naira is shit. Sadly the fuel is important cos in Nigeria we live in the stone age, where the fuel is needed for sustenance of virtually everything else.

Yes and the subsidy payments meant that fuel was sold at a level that made it not profitable for our refinereis not to work well.....leading to them crashing down by 2010.

You run a business at a loss...because you want to sell products cheaply, you end up wrecking your business.

You want fuel to be cheap, but you don't want what you sell to be cheap enough for the poor.

Remember that before yu tell me how much fuel is sold in Ghana, Mr writer failing to consider purchasing power parity, and the available infrastructure

Ghana pays more in cash for fuel, and for a host of other things...and they have a smaller populaiton than we do, so they can afford stuff we can't without gping into debt.

.

Hw much did you fuel your gen in Ghana last night, Mr writer? or your shop? what is the misery index in Ghana, Mr writer? Is Ghana poverty champion of the world, Mr writer? OH THE TALES, back then too about foreign rice vs naija rice..why is the price difference btw both just 1k today?

I'm not in Ghana, mr writer, and this is not about GHana , but about the trillions we waste funding a subsidy that could have been used for other things.

And by the way MR WRTIER.....YOU SUPPORT PDP AND APC. PARTIES THAT HAVE FAILED. I DON'T AND WHEN I ASK YOU TO SUPPORT OTUHER PARTIES YOU LAUGH AT ME. So, I pity you not, you bring this on yourself by not using democracy to be the change

So go and grumble at your leaders past and present, and not at me. I have nothing to do with it.

we shd give it more time i guess. I'm sure that will be your new tune when the subsidy removal is effected and nothing changes positively, and it becomes clear that subsidy removal is not the cure to the cancer that is the mal-administrated, directionless, corrupt, evil , wasteful govt of Nigeria. My joy is we will all buy it together. My sadness is some zombies wont feel the pangs at the gas station cos someone else is paying, but at least they will feel it on every other goods/services out there. Lets keep blowing non-impactful grammar, my guy.

[/quote]

Ah well, you won't get a job in the new refinereis that would come up with total subsidy removal then. Or enbjoy the price crash that would happen thanks to thte resultant comeptition

We did it for GSM

Good afternoon. And go vote for other parties. Leave PDP and APC alone. If they had taken this decision in 2006, or even in 1993, we would have long since passed though the fireand we would have been reaping the beneifits...but no, both p[arties and the millitary played games with subsidy, wasted our money on it, and wrecked our refinereis...

Time we removed subsidy....or maybe you want us to keep on taking loans and more loans and more lonas to pay for your beloved subsidy./.....till we are too broke to do so. That is what you want.

I hate this country with impunity

tauceti23:


Well, the problem is that the cost of subsidy keeps rising because the cost of production of fuel keeps rising.

Even if we cut the cost of governance, it would give us, at best, a sum of money that can only subsidsie fuel for a year or two..if not less, because at the end of the day, the cost of production, and by extension the actual fuel price, will keep rising.

Add the fact that we cannot spend money saved from cutting cost of government just on subsidy...health, educaiton, sport, etc etc all have needs too. Our transmisson system for power needs replacing too.

In developed countries, subsidies are paid for via taxes. Here, we pay for subsides from the revenue we get from selling crude oil which at the moment is not enough due to falling oil prices since 2014.

Therein lies the problem. Either we tax more and more people (at present 30% of the taxable populaiton is actually taxed) to get the revenue we need to subsidsie fuel, or we remove subsides, and hope that the resulting increased investment and more refienreis leads to price reduction in the long term by competition

(In a way, this proposed subsidy removal is not total yet...government is still setting the prices. Personally, government should not set prices...the market should)

All over the world, governments in one way or another subsidise their citizens' consumption of some basic amenities or needs, and Nigeria cannot be different.

So since Nigerian government has always failed to fully, correctly and widely tax the rich to fund this subsidy because of the rich men' clout, and since the poor in the society must surely be helped, and since oil revenue is the only victim left to be milked, then so be it.

If the government want total anarchy ( we are already on the path to total breakdown of law and order), then they should again increase the petroleum price to fund the greeds of those in power and office. Whatever the outcome of that policy they should be ready to absolve it.

However Dangote refinery is coming to full operation latest by 2022 first quarter, subsidy might no more be needed if this translate to lower cost and price. But until then let government do the magic that will keep fuel cost low for the masses.

membranus:


All over the world, governments in one way or another subsidise their citizens' consumption of some basic amenities or needs, and Nigeria cannot be different.

They do, and they also have higher tax to gdp ratios than Nigeria, and tax more of their people than Nigeria, and finally the GDP is higher than Nigeria
Plus their subsides is not for everyone...in the US for example...subsides on fuel are for the poorest poor perople..not for everyone.

So since Nigerian government has always failed to fully, correctly and widely tax the rich to fund this subsidy because of the rich men' clout, and since the poor in the society must surely be helped, and since oil revenue is the only victim left to be milked, then so be it.

30% OF taxable Nigerians are actually taxed..and they are , you guessed it, people living in the rich echelons.

Right now, for example, the poor pay less for power compared to the rich

We should tax the rich more...I am for it (I lean left after all)...but we should also widen the tax base.

Most of the time, we use high oil revenues, when prices are high, to cover the revenue gaps not met by the poort ax to gdp ratio. At the moment oil prices are low for a nation our size..crude oil that is.

If the government want total anarchy ( we are already on the path to total breakdown of law and order), then they should again increase the petroleum price to fund the greeds of those in power and office. Whatever the outcome of that policy they should be ready to absolve it.

Yeah, that's the problem, and I fully accept that would happen.

But the alterantive is, we keep subsidsing, and we keep running out of money. GEJ reinstated subsidy. He ended up running our forex reserves low, and our revenues low from just paying for subsidy...and even then, Buhari still had to pay for some of the leftover money some 3 years after GEJ left office

There is a reason why GEJ wanted to remove subsidy in 2012 then...and there is a reason why government has to remove subsidy now..and it is called waste.

However Dangote refinery is coming to full operation latest by 2022 first quarter, subsidy might no more be needed if this translate to lower cost and price. But until then let government do the magic that will keep fuel cost low for the masses.

Dangote is not comming to full op by 2022....more like by 2030, he would reach half capacity

Plus Dangote took loans to pay for that refinery. Lonas that have to be paid back...and if fuel is subsidsed, he won't be able to make the profit to pay them loans back.

Same thing for BUA refinery, and the other ones coming up...even NNPC TOO.

It is one thing to build a refinery, but it has to keep making a profit to be able to fund upgrades, repairs, etc...and pay salaries. (Government is helping by offering to sell crude to Dangote at naira price, not dollar price)

Wetin we do Dem
Lol

tauceti23:


They do, and they also have higher tax to gdp ratios than Nigeria, and tax more of their people than Nigeria, and finally the GDP is higher than Nigeria
Plus their subsides is not for everyone...in the US for example...subsides on fuel are for the poorest poor perople..not for everyone.




30% OF taxable Nigerians are actually taxed..and they are , you guessed it, people living in the rich echelons.

Right now, for example, the poor pay less for power compared to the rich

We should tax the rich more...I am for it (I lean left after all)...but we should also widen the tax base.

Most of the time, we use high oil revenues, when prices are high, to cover the revenue gaps not met by the poort ax to gdp ratio. At the moment oil prices are low for a nation our size..crude oil that is.




Yeah, that's the problem, and I fully accept that would happen.

But the alterantive is, we keep subsidsing, and we keep running out of money. GEJ reinstated subsidy. He ended up running our forex reserves low, and our revenues low from just paying for subsidy...and even then, Buhari still had to pay for some of the leftover money some 3 years after GEJ left office

There is a reason why GEJ wanted to remove subsidy in 2012 then...and there is a reason why government has to remove subsidy now..and it is called waste.


Dangote is not comming to full op by 2022....more like by 2030, he would reach half capacity

Plus Dangote took loans to pay for that refinery. Lonas that have to be paid back...and if fuel is subsidsed, he won't be able to make the profit to pay them loans back.

Same thing for BUA refinery, and the other ones coming up...even NNPC TOO.

It is one thing to build a refinery, but it has to keep making a profit to be able to fund upgrades, repairs, etc...and pay salaries. (Government is helping by offering to sell crude to Dangote at naira price, not dollar price)

It appears you are living in theoretical Nigeria of your own which have no practical realism.

Keep on pushing your economic theories to support this inept and incompetent government actions. But the reality on the ground is that the poor are suffering through high prices of food (which your subsidy removal will further exacerbate), high youth employment (which the government encouraged by their demoniac greeds over the years). Taking into account the already criminal tendencies of everyone in a bid to survive, any additional overburdening of the masses will surely put a fire to the proverbial keg of gunpowder of the country (which I am highly expectant of), and then the politicians will realise that their supposedly Plan B to escape will fail, because all borders will close up on them.

Read the French Revolution and you will understand why it is not advisable to push the masses beyond endurance.

membranus:


It appears you are living in theoretical Nigeria of your own which have no practical realism.

Personally, I wish we could keep on subsidsing fuel...even to as low as N20 per liter. Practically, we can't . Unless crude oil prices rise

Keep on pushing your economic theories to support this inept and incompetent government actions.

I happen to beleive that the government is inept too....I am rather cynical about past and present Nigerian governments.

But the reality on the ground is that the poor are suffering through high prices of food (which your subsidy removal will further exacerbate),

Yeah, which is why I in my heartt of heats feel we should not remove subsidy.

But at the moment we don't have the revneue to maintain it...unless we take loans (which you don't like) or raise taxes (which you don't like) or hope we can raise enough revenue from other resources (which is going to take some time, and which is subject to the same price fluctuations as oil...and may not yield enough revenue anyway)

high youth employment (which the government encouraged by their demoniac greeds over the years).

Which subsidy removal will alleviate...because more and more people will invest in refinereis to make profits...which means more jobs, more revenue for government, more jobs indrectly, and eventually, low fuel prices

We did the same for GSM....it was very very costly once...but the free market polices enabled prices to crash, enables the IT infrastructure that we have that was built with zero government money, and created jobs, directly and indrectly

Profits don't all go into some pocket somewhere...they get invested.

Taking into account the already criminal tendencies of everyone in a bid to survive, any additional overburdening of the masses will surely put a fire to the proverbial keg of gunpowder of the country (which I am highly expectant of), and then the politicians will realise that their supposedly Plan B to escape will fail, because all borders will close up on them.

Read the French Revolution and you will understand why it is not advisable to push the masses beyond endurance.

I myself would like a left wing revolution. But at the end of the day, when you have finsihed the money of the rich in providing welfare projects for the poor...and you need more money, only there are no rich to get money from, what would you do then?

Almost all the countries that did revolution, France included are now capitalist again. The soculaist ones who keep on shouting revolution are very very broke.

Subsidy must go...or we take more loans and more loans and more loans...or we raise taxes on everyone. Poor and rich. Or we keep paying the subsidy till we are broke.

Lord knows I wish there was another way. I really wish there was another way.

Money wey dem go still steal..

tauceti23:


Personally, I wish we could keep on subsidsing fuel...even to as low as N20 per liter. Practically, we can't . Unless crude oil prices rise



I happen to beleive that the government is inept too....I am rather cynical about past and present Nigerian governments.




Yeah, which is why I in my heartt of heats feel we should not remove subsidy.

But at the moment we don't have the revneue to maintain it...unless we take loans (which you don't like) or raise taxes (which you don't like) or hope we can raise enough revenue from other resources (which is going to take some time, and which is subject to the same price fluctuations as oil...and may not yield enough revenue anyway)




Which subsidy removal will alleviate...because more and more people will invest in refinereis to make profits...which means more jobs, more revenue for government, more jobs indrectly, and eventually, low fuel prices

We did the same for GSM....it was very very costly once...but the free market polices enabled prices to crash, enables the IT infrastructure that we have that was built with zero government money, and created jobs, directly and indrectly

Profits don't all go into some pocket somewhere...they get invested.




I myself would like a left wing revolution. But at the end of the day, when you have finsihed the money of the rich in providing welfare projects for the poor...and you need more money, only there are no rich to get money from, what would you do then?

Almost all the countries that did revolution, France included are now capitalist again. The soculaist ones who keep on shouting revolution are very very broke.

Subsidy must go...or we take more loans and more loans and more loans...or we raise taxes on everyone. Poor and rich. Or we keep paying the subsidy till we are broke.

Lord knows I wish there was another way. I really wish there was another way.

I have said it that you are living in a theoretical Nigeria of your own making if you believe that subsidy removal will alleviate poverty. Where have you been staying over the years? It can't be in Nigeria. What happened to all the subsidies that Buhari have been removing since 2015, have they translated to improved living standards for the people?

As for revolution (whether capitalist or socialist one), ask the French (or the Americans and Russians), they are more happy and prosperous for it.

As for you, you are just a pretender, a spokesman for subsidy removal on media space. Therefore remove your subsidy, and enjoy the terrible outcome when it comes.

I am through with you.


Which subsidy removal will alleviate...because more and more people will invest in refinereis to make profits...which means more jobs, more revenue for government, more jobs indrectly, and eventually, low fuel prices

tauceti23:


So, what's the alternative...keep on paying subsides at a cost to our already limited revenue.?

Keep on taking loans and more loans to make up for the increasing amount of money we pay as subsidy ?

Raise taxes to raise the revenues for us to subsidse fuel enough?

Keep on allowing the mass smuggling of cheap fuel out of the country at a cost of billions to our pockets?

Run all the refienreis at a loss in the name of subsidy...we have bad refienreis because subsidy meant we ran them at a loss ,meaning no cash for fixing them or upgrading them?

Keep on forcing NNPC to run at a loss to subsidse fuel?


I know subsidy removal is harsh....but the truth is, not removing subsidy is also harsh.



We should have so done this since 2012 , if not even earlier when we had the oil revenue from high oil prices to cushion things.

At some point, we have to accept reality.

/
Everything points to the leadership you bought. Yes. They sold and you bought. Take away subsidies. Increase price to N500/litre. They will still take loans , ,loot the commonwealth and the refineries will remain moribund. I expect change but not from Buhari and his band of liars.

Change starts with the leadership and Nigerians sure know how to select them. Who are the ones lining up again to continue from Buhari? The same certified criminals and some Nigerians are cheering them on based on ethnic or religious sentiments only. So it is better the hardship continues until the weak links break off. After all na from the same market APC and PDP people dey shop. They have nobody to blame but themselves for their gullibility and inaction.

/

membranus:


I have said it that you are living in a theoretical Nigeria of your own making if you believe that subsidy removal will alleviate poverty. Where have you been staying over the years? It can't be in Nigeria. What happened to all the subsidies that Buhari have been removing since 2015, have they translated to improved living standards for the people?

As for revolution (whether capitalist or socialist one), ask the French (or the Americans and Russians), they are more happy and prosperous for it.

As for you, you are just a pretender, a spokesman for subsidy removal on media space. Therefore remove your subsidy, and enjoy the terrible outcome when it comes.

I am through with you.


Which subsidy removal will alleviate...because more and more people will invest in refinereis to make profits...which means more jobs, more revenue for government, more jobs indrectly, and eventually, low fuel prices

Okay, you want us to pay subsidies and keep on taking loans and more loans to put into the pockets of a few rich people because we are poor.

You want us to run all our refinereis at a loss too....so that we can keep on importing.

Got it.

When we end up broke, don't blame me. I'm not in government.

dre11:
• Tougher days ahead as governors pull subsidy plug

• Poverty, inflation to worsen in coming months



https://m.guardian.ng/news/nigerians-to-pay-n234-billion-taxes-monthly-with-petrol-at-n385-per-litre/

...why the same states building universities (mushroom schs)mosques and churches can't build modular refineries for at least a 3rd of their consumption baffles me....zoo country

InvertedHammer:

/
Everything points to the leadership you bought. Yes. They sold and you bought. Take away subsidies. Increase price to N500/litre. They will still take loans and loot the commonwealth.

Change starts with the leadership and Nigerians sure know how to select them. Who are the ones lining up again to continue from Buhari? The same certified criminals and some Nigerians are cheering them on based on ethnic or religious sentiments only. So it is better the hardship continues until the weak links break off. After all na from the same market APC and PDP people dey shop. They have nobody to blame but themselves for their gullibility and inaction.

/

So what would we do after changing the leadership? How do we get enough money to pay for subsidies?

(And yes, I agree PDP and APC should both go....I haven't voted for either since I started voting myself. But what should be done?)

Sorry for the challenging...but Nigeria is wasting money on subsidy. Too much.

Jesus