Okoroawusa:
It's a welcome development. We can't continue to subsidize fuel for big men.

I really love the signing of this bill into law. The only fear I have is that Nigerian policy implementors know how to spoil a good law.

The beginning might be tough but if we want to leave a better Nigeria to our kids then this is the way to go.

Nuelito:


Ok thanks for the heads-up..... na bad leaders dey hold this kontri back.

samintegrity:
Pls how true is this?

“It is very unfortunate and very sad that in spite of the outcry and the condemnation that greeted the National Assembly’s approval of the PIB, a paltry three per cent is allocated for the host communities’ development and the outrageous 30 per cent of the NNPC’s profit that is allotted for oil exploration in the frontiers, which we know is basically North-East Nigeria, perhaps North-Central Nigeria.

Oil producing states get 3% while 30% goes to oil exploration??

Exploration where exactly?? The ones being done in the north??

Okoroawusa:

So the standard of living in Niger, Chad, Benin Republic is higher than in Nigeria?

ogododo:


We dey Lekki and Ikeja and dem shot us.

Kastonkastroll:
But during their campaign these people promised to reduce the price of PMS. They held different rallies when Gej increased the price of fuel and today they are doing far worse than Gej in handling the economy of the country.

Buhari even had the temerity to tell Gej to resign when insecurity wasn't as bad as it is today. You can't even travel with your mind at peace. Our debts profile hasnt been this high. There is immense poverty in every nook and cranny of the country. Inflation has TKO the naira.

If fuel should be sold at 300naira per litre, how do these charlatans in power expect the average nigerian to survive? Though they say the average nigerian is a survival(but for how long)

God please give us succor, heal our land and provide for us. Amen!

Nuelito:
aaah....no be African country I dey reason oh.

Na western world make sense pass..... Venezuela or Colombia

Beancounter94:


Lol.

Do you think that Buhari has a magic money tree to continue paying subsidy on fuel forever?

Do you know how much money we have thrown away in the name of subsidy and how much it has contributed to the debt burden?

Do you know that we have always wanted to remove this subsidy since 1993?

Do you know that we don't have working refinery because the money that should have been used to fix them was spent on subsidy.?

Please don't make me angry.

saintruky:



Bros those countries u quote get refineries? Abi dem get oil?

Joe4real1988:
Bro let me ask you, is it only car that uses fuel? How about Okada(T.F will increase), keke(T.F will increase), Salon(price will increase). Bro the effect is not gonno be only on car owners, but on all of us. Reason am na.

amc:


The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure.

It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are wasting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices.

Ray07:
oh!!! now you no money isn't plugged from the tree.
My question is, why did the opposition party and Nigerians at large came out to protest when GEJ wanted to remove subsidy . . .
This would have been history today.

You see una life, everything is just politic to you guys. Am damn tired of this God forsaken country

Beancounter94:


Niger and Chad have a refinery each

As does Cameroon

DukeNija:

Bold of you to assume this irresponsible government will reinject the excess funds into the economy. You’re holding this government to an astronomical standard.

amc:


The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure.

It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are wasting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices.

saintruky:


Okay... Working in full capacity? I know of Cameroon, dunno if Chad or Niger get oil...

Okoroawusa:

If you want all those things you mentioned up there then subsidy has to go

Godszilla:
We are subsidizing for the rich?really?seriously?i mean a Nigeria with half a brain could believe this. The world head-quarter of poverty, what is the number of rich people in ratio with total populace of Nigeria?
real live scenario i use to spend average 2k on my lil corrola per week now i spend 4k, my friend doesnt own a car he use to spend around 5k on his generator at home now he spends about 9k per week. my other friend use to buy 500 fuel in his generator like most nit for his family now he spends 1k per night.
oga hope you are seeing the picture of how they have bin subsidizing the rich abi. now imagine increase to 300, u dont have govt manage transport system, you dont av water, you dont have lit even that is extremely high, you salaries are obviously not increasing, dollar is astronomically sic. and you have a notoriously wicked govt and you believe they have you in mind . even the palliative was giving to them free to distribute to the citizens that are hungry what happened to it?
I pity some people sha, i guess we get use to suffering n smiling. still some compare us to chad,somolia,cameroon when we know we are constantly comparing our sef with US its a tragedy. its like riding a bike and u are comparing yoursef to a cripple (no disrespect here).
something is wrong with us Nigeria,something is just not right.
Next level joor

saintruky:


Okay... Working in full capacity? I know of Cameroon, dunno if Chad or Niger get oil...

Chad ranks as the tenth-largest oil reserve holder among African countries, with 1.5 billion barrels of proven reserves as of 2018 and production of over 140,000 barrels per day in 2020. Petroleum is Chad's primary source of public revenue, and around 90 percent of oil production is exported.

amc:


So were you BMC too when you supported Buhari? How much did they pay you?

kevoh:

Kikiki, Venezuela? Seriously? Venezuela's current situation is way worse than ours!

khalleb:

If most nairalander are like you the forum will be one of the best forum in world. Most nairalander augue blindly and when someone try to shed light on their blindness they will rather abuse the person instead of being appreciative

amc:


The exploration is for 7 “Frontier Basins”, 3 in the core North, 2 in the Middle belt, 2 in the South.

Abiboss:

I wasn't one of you, I voted Buhari because of the promises he made and when he came to power he started doing the complete opposite of what he campaigned about and I stop supporting him. I supported him at first because I want the best for my country not knowing Buhari is just a pathetic liar and power hungry.

NB: I'm an APC or PDP supporter I'm just a Nigerian that want the best for Nigeria.

Beancounter94:


And do you know why.we don't have a lot of good anemites?
Much of the money that could have been spent on them was spent on subsidy.

Same reason why we dont have working refinery too.

If you want subsidy then taxes would have to go up on everyone including low income earners , farmers , herdsmen and even beggars.

Let the subsidy go. Investment will.come in and eventually prices will fall.

We have a working GSM sector because Obasanjo allowed mtn and econet charge anyhow price. They made profits and used it to build those gsm antenna and network we have.

amc:


The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure.

It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are wasting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices.

Beancounter94:


And do you know why.we don't have a lot of good anemites?
Much of the money that could have been spent on them was spent on subsidy.

Same reason why we dont have working refinery too.

If you want subsidy then taxes would have to go up on everyone including low income earners , farmers , herdsmen and even beggars.

Let the subsidy go. Investment will.come in and eventually prices will fall.

We have a working GSM sector because Obasanjo allowed mtn and econet charge anyhow price. They made profits and used it to build those gsm antenna and network we have.

amc:


The average Nigerian doesn’t own a car, so we have been subsidising the rich at the expense of the poor who are denied well needed investment in things like education, healthcare and infrastructure.

It will be hard in the short term but the populace would start to see the many benefits in the medium to long term. We are wasting too much scare resources for on this subsidy and there is too much corruption involved with smuggling of our PMS to neighbouring countries where PMS is sold at higher prices.

Okoroawusa:

So the standard of living in Niger, Chad, Benin Republic is higher than in Nigeria?