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Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy (11557 Views)

Northern Petrol Marketers To Embark On Strike Over N250bn Unpaid Subsidy / Zainab Ahmed: We Have Spent Over ₦157 Billion On Second Niger Bridge So Far / Zainab Ahmed: We Have Identified Plans To Generate ₦18 Trillion Revenue (2) (3) (4)

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Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Mandrake20(m): 10:25am On Nov 25, 2021
I hate the corrupt practices been done by this leaders. 5k ? U guys need a rethink. Every year subsidy.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Jamesbiodun(m): 10:38am On Nov 25, 2021
Government of lies and propaganda angry they said they have removed fuel subsidy that was why fuel rise and now we are at it again, they will remove it increased fuel price, next year they will come with another lie and tell us they are in court servicing it sad
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Perfectbeing(m): 11:24am On Nov 25, 2021
FarahAideed:



No 200 billion a month
I know.. The 200 billion monthly will only be for a year.. That's what I meant.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Perfectbeing(m): 11:26am On Nov 25, 2021
Agbegbaorogboye:

Really? You think the growth of our economy is being stunted by 250bn
I know that if 250 billion was put into other part of the economy, say, education, it will go a long way.

2 Likes

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 11:44am On Nov 25, 2021
Perfectbeing:
I know that if 250 billion was put into other part of the economy, say, education, it will go a long way.

A long way in what area? Have you identified the particular area you think 250bn could be spent on in education.

Mind you, the 250bn will go to the three tiers of govt to share. Have the three tiers agreed on a particular problem they need 250bn to solve in education?
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by ityP(m): 12:11pm On Nov 25, 2021
drealcivilceno:


If na begging e go better.

They are looking for a president that come and clear the mess these ones have made with what constitution?


I just they laugh... Person come for revenge mission, you call am president.


Aswear.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by ityP(m): 12:50pm On Nov 25, 2021
Perfectbeing:
So who told you I belong to any party?



Lmao. No one wants to associate with failure. Buhari don mess up, you don dey deny am grin.... Typical Nigerians
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by ityP(m): 12:52pm On Nov 25, 2021
Nicetry:
Nobi this full subsidy some morons gathered for Lagos that year . Wetin happened now abi Nigeria don better

If hypocrite is a person he must be father of all Yoruba


Very true fact. They've all lost their voice. Some dey even justify the thing. Then was the right time to remove subsidy when things no difficult. Removing subsidy now will wound the average Nigerian
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by VULCAN(m): 12:52pm On Nov 25, 2021
Fuel Subsidy under Buhari is like a Zombie.

It doesn't stay dead.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 1:04pm On Nov 25, 2021
Final word on this thread....and a big thank you to those who have responded.

Let me now come clean: I was pro-fuel subsidy and I wrote persistently against it from my student days until January 2012 — when the government of President Goodluck Jonathan announced the deregulation of the downstream sector, which expectedly came with pump price increases. I was shocked at the people that were urging me to oppose the removal. Some of these people were openly canvassing deregulation. I started asking myself why they would campaign for something on TV and then nudge me to oppose it. It was when the entire subsidy scam, running into trillions of naira, became public knowledge that I began to understand what was going on. I retreated.



While we have been campaigning that the government should “protect” the poor by keeping petrol price low, we were playing into the hands of the fat cats as they were busy buying private jets. I landed at the Abuja airport one day in 2012 and was dazed by the number of private jets at the GAT. They were parked wing-to-wing. Most of the jet owners turned out to be subsidy scammers. When you asked them what they were doing for a living, they would say “oil and gas”. No physical office. No tank farm. No refinery. From that era, I began to show more interest in the workings of the subsidy regime. My conclusion since then has been that we were really protecting the rich
.

That moment of truth did not turn me into an anti-subsidy campaigner. Rather, I began to ask myself what we should subsidise. I was no longer persuaded that petrol subsidy is the right thing. I would rather the money was pumped into other sectors. Let Nigerians enjoy quality healthcare and education at subsidised rates. Re-direct part of the fuel subsidy to public hospitals so that we can have the equipment, drugs and personnel to protect poor Nigerians from dying cheap deaths. Re-direct part of the fuel subsidy to fund education so that poor Nigerians can get world-class education while paying little or nothing. That is a more productive application of subsidy, I told myself.

But you know what? Stop the average Nigerians on the street today and ask them if they would rather pay more for fuel than receive better treatment at public hospitals and you are more like to hear them defend keeping fuel price at N162/litre. Why? It is not difficult to understand: they easily feel the impact of fuel price hike. If you promise them that the subsidy budget would be re-directed to create world-class hospitals, they would laugh at you and ask: “Na today? Is that not what they tell us all the time?” The average Nigerians do not think the government cares about them. They see themselves as neglected. They think they are only needed at election times because of their PVC


The above is from Simon Kolawole's recent article the 'fuel subsidy dilemma....and it kind of mirrors my journey too.

A lot of people assume that when I support the removal of fuel subsidy, I am a government propagandist, and a Buhari supporter. The truth is I am neither . I work in the private sector, have never voted PDP or APC , and for many reasons never will.

Until 2012, I was a backer of fuel subsidy. I believed it was the only benefit we got from government. But when I saw respected economists like Okonjo Iweala, and bankers like SLS agreeing with the removal of fuel subsidy (and SLS to this day still thinks subsidy should go)...that's when I began to wake up, and back it.

The kind of vitriol i have gotten on this site...for backing subsidy removal, and explaining why...shows that Nigerians are so addicted...yes, it is an addiction...to cheap fuel...that tell them it is wrecking their economy, or destroying them, or making them get into more and more debt, and they would abuse, yell, call you names, and so forth.

Well, I'm sorry Buhari was such a bad leader, and is still a bad leader, but I did not vote for him or choose him. But no matter who is in charge of this country, we cannot sustain subsidy. Not without getting into more debt for our future generations...on top of the debt resulting from low oil prices.

I don talk my own.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 1:33pm On Nov 25, 2021
backbencher:
[s]Final word on this thread....and a big thank you to those who have responded.




The above is from Simon Kolawole's recent article the 'fuel subsidy dilemma....and it kind of mirrors my journey too.

A lot of people assume that when I support the removal of fuel subsidy, I am a government propagandist, and a Buhari supporter. The truth is I am neither . I work in the private sector, have never voted PDP or APC , and for many reasons never will.

Until 2012, I was a backer of fuel subsidy. I believed it was the only benefit we got from government. But when I saw respected economists like Okonjo Iweala, and bankers like SLS agreeing with the removal of fuel subsidy (and SLS to this day still thinks subsidy should go)...that's when I began to wake up, and back it.

The kind of vitriol i have gotten on this site...for backing subsidy removal, and explaining why...shows that Nigerians are so addicted...yes, it is an addiction...to cheap fuel...that tell them it is wrecking their economy, or destroying them, or making them get into more and more debt, and they would abuse, yell, call you names, and so forth.

Well, I'm sorry Buhari was such a bad leader, and is still a bad leader, but I did not vote for him or choose him. But no matter who is in charge of this country, we cannot sustain subsidy. Not without getting into more debt for our future generations...on top of the debt resulting from low oil prices.

I don talk my own.[/s]

Tell Simon Kolawole that 250bn per month to be shared among the three tiers of govt is not going to build affordable world class hospital nor provide affordable quality education. The reason we don't have all that is because our leaders have preferred the foreign schools and hospitals. So they actually see no reason why they should make efforts to build such things.
Let me also shock you and Simon Kolawole that the said 250bn to be saved from subsidy will actually go into recurrent expenditure of various budgets. Nigeria can't finance its recurrent and debt services which is why a govt that is not ready to do the needful by cutting down excesses wants to push the cost of its inefficiencies to the citizenry. The citizenry are not the shock absorber for govt. It should be the other way around.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Perfectbeing(m): 1:41pm On Nov 25, 2021
ityP:




Lmao. No one wants to associate with failure. Buhari don mess up, you don dey deny am grin.... Typical Nigerians
k
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Perfectbeing(m): 1:42pm On Nov 25, 2021
Agbegbaorogboye:


A long way in what area? Have you identified the particular area you think 250bn could be spent on in education.

Mind you, the 250bn will go to the three tiers of govt to share. Have the three tiers agreed on a particular problem they need 250bn to solve in education?
what point exactly are you trying to make?
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ttalk: 2:00pm On Nov 25, 2021
backbencher:


1. You would not run to North Korea to run your refineries. North Korea has no refineries and relies on China for petrol ( and that North
Korea country is a mess as well. It is poor , broke and it's annual budget is one quarter of what South Korea spends on defence!)

2..Rule number one of allowing a foreign entity run anything is that you have to let them make a profit doing so

China basically runs Niger Republic only refinery , meanwhile petrol sells for N370 per liter there. And Niger is poorer than we are.

3.The reason why we have bad refineries is that government forced then to run at a loss to guarantee cheap fuel. Thus they had no money for routine maintenance and upgrading. Meaning they all collapsed. And have become money sinks.

4. If we had removed subsidies in 1993 , when it was first suggested to us, by now we would have had well functioning refineries for decades simply because they were allowed to run at a profit an thus make back the money they spend in refining one liter of fuel.

( A subsidy is what the goverment pays to cover the difference between the cost price of petrol and the goverment price which is lower..It is usually insufficient because the actual cost price always rises and because it is funded by volatile oil revenues.

Goverment removes subsidies from time to time by reducing the amount spent on subsides which manifests as a rise in prices)

5. We have a functioning GSM network because goverment allows them to run at a profit. We don't have functioning refineries because goverment forced them to sell fuel at a loss for decades and paid them an insufficient amount of money called subsidy to cover the losses .

Stop making excuses for government.

What is the reason for subsidy in the first place?

Is it not because the refineries are not producing. Why not first solve that problem and make profit from refineries when remove subsidy.

As an oil producing country how do you explain it take a private company to build refinery when government can't dont have one single functioning one. Isn't that shameful?

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by tonyson010(m): 2:14pm On Nov 25, 2021
chigoziri2403:
The same subsidy removal your president kicked against


They kicked, protested and threatened GEJ n NOI for attempting to remove subsidy.

Entered the administration and lied to us that subsidy has been removed but IMF said NO.........they are now shamefully making rubbish calculations on how to cushion the effect of subsidy removal once done.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 2:18pm On Nov 25, 2021
Ttalk:


Stop making excuses for government
.

I am not making excuses for government.

What is the reason for subsidy in the first place?

Is it not because the refineries are not producing. Why not first solve that problem and make profit from refineries when remove subsidy.

In response...from this article

Why are the subsidies there?
The official reason for introducing oil subsidies was to minimise the impact of rising global oil prices on Nigerians. But other factors played an important role.

The period 1970-1979 was an era of subsidies in Nigeria. Virtually everything in Nigeria was heavily subsidised – education, health, electricity, water supply, air travel and even provisions or “essential commodities” such as milk, sugar, rice, wheat and beverages.

In the 1970s, Nigerians coined the phrase “national cake,” to depict a phenomenon whereby they felt entitled to government largesse.

Subsidies were sustained by the oil boom Nigeria enjoyed, thanks to the oil-shock caused by the Arab-Israeli conflict that saw global oil prices skyrocket.

As part of the subsidy jamboree, public-sector workers received a big boost in their wages in 1975, under the “Udoji awards.” The country’s state-owned National Electric Power Authority did not even bother to collect electricity tariffs, while the national carrier, Nigeria Airways, sold tickets at below market-clearing prices.

But this jamboree was short lived, as the government was unable to sustain subsidies, following steep drops in oil price in the 1980s. The scarcity of foreign exchange made it difficult for the government to finance imports of essential commodities, which led to shortages



As an oil producing country how do you explain it take a private company to build refinery when government can't dont have one single functioning one. Isn't that shameful?



It is very shameful, but the subsidy caused it

To understand why, here is what a subsidy is.

Government in order to help the poor, has been forcing NNPC and the marketers to sell fuel below the cost of producing it.To compensate them for the resulting loss, government pays a subsidy which covers the difference between the cost price of fuel...and the government set price of fuel (usually lower than actual cost price)

This meant that the refinereis could not earn enough profit to break even, meaning that NNPC could no longer finance their repair, maintenance, and upgrading...plus build new refineries. The subsidy paid was what prevented things from collapsing.

By some 15 years ago, we were a net importer of fuel. This meant that the fuel had to be subsidised..more often than not using money that without subsidy would have gone for other things.

To see how subsidy costs have risen...in 2012, we imported fuel at N99 per liter. Today it is at N256 per liter. In 2012, fuel cost N65 per liter. Government was paying a subsidy of at least N34 per liter (the difference between N99 and N65 ) to keep the prices low. This means that NNPC cannot make a profit, and only just makes back the money they spent importing. Same thing for many independent marketers.

A lot of independent marketers,and people within NNPC took advantage of the scheme then by lying about what they imported...which led to false subsidy claims. (More on that later)

But where were we...

In 2012, GEJ , in order to end the subsidy regime...increased fuel from N65 to N140, with fuel costing N99 to import. Meaning that government won't have paid N34 of subsidy...and NNPC would have made a profit of N35 to boot. But Nigerians protested, APC supported them...and thus GEJ reduced prices to N97 and then to N87

BUT...the cost of importing fuel increased to N132 by 2015....meanwhile we were selling it at N87. (This led to government incurring debts that were not paid off till 2018). Government raised prices to N145...and thus no subsidy was paid...till the cost of importing fuel rose above N180 by 2016/17

In order to save costs, government then made NNPC the sole importer, and kept prices at N145. Sadly, prices of impoprting fuel passed N200..and then N250 ..and not even government increasing fuel to N162 has helped


Today, fuel is at N162, the actual cost is N257, and we are subsidising it at nearly N100 per liter.

And we are draining NNPC's coffers and government coffers to do so.

At some point it has to stop. The market must be deregulated so that refining becomes profitable at home

That's the story

PS: Warri and Portharcourt refineries are being repaired, plus there are at least 5 active refineries under construction privately...not just Dangote.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ttalk: 2:22pm On Nov 25, 2021
backbencher:


Well, okay

I just wanted to know you got my point ...that refineries have to be run profitably for them to work well.

I also hope you would get it why prices have to initially rise, and why subsidy payments have to end now....because no investor is going to come in, refine fuel at a certain price and then be told to sell it below the price , and then get paid a subsidy that does not begin to cover their losses.

But the Niger Delta guys have been refining and making profit. Look there nothing complex about oil refining that can't be done locally if government is serious.

Let government remove stiff control and licensing and only regulate and see Niger Delta people start producing for consumption.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 2:25pm On Nov 25, 2021
Ttalk:


But the Niger Delta guys have been refining and making profit. Look there nothing complex about oil refining that can't be done locally if government is serious.

Let government remove stiff control and licensing and only regulate and see Niger Delta people start producing for consumption.

1.The backyard refineries in the Niger Delta are not standard, do more damage to the environment than a standard refinery (and that's saying a lot) and are risky (zero safety standards).

Recently one of the illegal refineries exploded in Rivers state, and 25 people went to the great beyond. And that's not the first time.

Let the Niger delta guys get some money together, get a technical partner, and build a standard refinery please. For their own safety..

2.In addition to Dangote and his competitor and 'frenemy' BUA, there are 5 other refineries going up, and 20 more in the wings.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ttalk: 3:12pm On Nov 25, 2021
backbencher:


1.The backyard refineries in the Niger Delta are not standard, do more damage to the environment than a standard refinery (and that's saying a lot) and are risky (zero safety standards).

Recently one of the illegal refineries exploded in Rivers state, and 25 people went to the great beyond. And that's not the first time.

Let the Niger delta guys get some money together, get a technical partner, and build a standard refinery please. For their own safety..

2.In addition to Dangote and his competitor and 'frenemy' BUA, there are 5 other refineries going up, and 20 more in the wings.

Stop talking about standard when you can simply regulate. Nigerian have been eating stone rice since the ban on foreign rice, did we complain.

It's slave mentality to assume because crude is refine locally then it must be substandard.

The palm oil you eat since you were born has been refine locally, how come you haven't die.

What government need is opening up the refining end and regulate.

Your type can go for your stardard fuel at 700/litre, while majority of Nigerian would settle for locally refine one.

But regardless of whom you are majority of what you consume is locally produce, from your food down to your cloth and water.

Again, fuel refining is not rocket science, dont make it look it can only be in a big way. It only people like you that makes governace complex.

Lastly, how do you solve the logistics of transportation of fuel to Northern Nigeria. Do you think there would be price differential?

If there's is uniform price (which I strongly believe would exist after fuel subsidy removal) then where is the justification for subsidy removal

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 3:26pm On Nov 25, 2021
Ttalk:


Stop talking about standard when you can simply regulate. Nigerian have been eating stone rice since the ban on foreign rice, did we complain.

It's slave mentality to assume because crude is refine locally then it must be substandard

If the Niger delta boys get together, and get technical partners, and there are many , to help them refine fuel to standard, then they would get somewhere.

That is what I said. I did not say locally refined petrol is bad. It is you who is building strawmen. I SAID THAT PETROL REFINED UNDER SUBSTANDARD CONDTIONS IS BAD...AND DANGEROUS.

Get it?

Or would you buy substandard drugs made in Nigeria because 'they are our own local production?' (Someone I know once did that for his child unknowingly and the child died. For nothing).

The palm oil you eat since you were born has been refine locally, how come you haven't die.
Irrelevant .
What government need is opening up the refining end and regulate.

Yes, they have DONE THAT...which is why we have six refniereis, private under construction and 20 on the drawing board...and more to come once the subsidy goes.

It is like you aren't reading what I wrote....

Your type can go for your stardard fuel at 700/litre, while majority of Nigerian would settle for locally refine one.

There is noting wrong with our local fuel..so long as it is refined according to standard process with safety and environmental protocols observed

This your strawman is too big.


But regardless of whom you are majority of what you consume is locally produce, from your food down to your cloth and water.

Yeah, because it is done according to standard protocols. NEXT.

Again, fuel refining is not rocket science, dont make it look it can only be in a big way. It only people like you that makes governace complex.
So we should ignore safety, standards protocols...jsut to get cheap fuel

People die from things that are made without following the right protocols, you know.

So we should use substandard products because 'they are made in Nigeria' (Welll, well, well).

I am planning to use locally made fuel that has been refined by the globally accepted standard processes. Not illegally refined fuel that might mess up my car engine....

Nothing stops your Niger delta boys from setting up a refinery that is to standard, and works by the standard processes...not only would they refine more fuel, but they would make more money than an illicit fuel den.



Lastly, how do you solve the logistics of transportation of fuel to Northern Nigeria. Do you think there would be price differential?

If there's is uniform price (which I strongly believe would exist after fuel subsidy removal) then where is the justification for subsidy removal

So we should keep wasting money on fuel subsidy because the North will pay more for fuel.

Yeah, so what? Scaremongering.

Besides, more money due to subsidy removal=more profit=more investment in things like pipelines. Then the railways too are coming up....

Subsidies waste a lot of money.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ttalk: 3:44pm On Nov 25, 2021
backbencher:


If the Niger delta boys get together, and get technical partners, and there are many , to help them refine fuel to standard, then they would get somewhere.

That is what I said. I did not say locally refined petrol is bad. It is you who is building strawmen. I SAID THAT PETROL REFINED UNDER SUBSTANDARD CONDTIONS IS BAD...AND DANGEROUS.

Get it?

Or would you buy substandard drugs made in Nigeria because 'they are our own local production?' (Someone I know once did that for his child unknowingly and the child died. For nothing).


Irrelevant .


Yes, they have DONE THAT...which is why we have six refniereis, private under construction and 20 on the drawing board...and more to come once the subsidy goes.

It is like you aren't reading what I wrote....



There is noting wrong with our local fuel..so long as it is refined according to standard process with safety and environmental protocols observed

This your strawman is too big.




Yeah, because it is done according to standard protocols. NEXT.


So we should ignore safety, standards protocols...jsut to get cheap fuel

People die from things that are made without following the right protocols, you know.

So we should use substandard products because 'they are made in Nigeria' (Welll, well, well).

I am planning to use locally made fuel that has been refined by the globally accepted standard processes. Not illegally refined fuel that might mess up my car engine....

Nothing stops your Niger delta boys from setting up a refinery that is to standard, and works by the standard processes...not only would they refine more fuel, but they would make more money than an illicit fuel den.





So we should keep wasting money on fuel subsidy because the North will pay more for fuel.

Yeah, so what? Scaremongering.

Besides, more money due to subsidy removal=more profit=more investment in things like pipelines. Then the railways too are coming up....

Subsidies waste a lot of money.




What would the citizen benefit from government that could not provide basic amenities, every homes provides his water, electricity, healthcare and private education.

What exactly should be the responsibility of government whereas worldover there is one form of subsidy or the other.

Look at how government messed up palliatives that is not even their money, would you trust such people to disburse any cash transfer.

I advice you to stop making excuses for government on the issue of subsidy when government could not block wastages and trim down the cost of governance.

Nigerian have sacrifice so much for politicians who get everything for free but can't make citizen have any form of relief.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 3:56pm On Nov 25, 2021
Ttalk:

''''


I think you don't understand my position, and I am sorry for not being more clear.

I would suggest you read the below linked articles to get why I am talking the way I am, and why I am no government supporter.


1.Fuel subsidies in Nigeria: they’re bad for the economy, but the lifeblood of politicians

2.The fuel subsidy dilemma
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ttalk: 5:57pm On Nov 25, 2021
backbencher:


I think you don't understand my position, and I am sorry for not being more clear.

I would suggest you read the below linked articles to get why I am talking the way I am, and why I am no government supporter.


1.Fuel subsidies in Nigeria: they’re bad for the economy, but the lifeblood of politicians

2.The fuel subsidy dilemma

Fuel subsidy is not bad what is bad are

Corruption in Oil sector

Absence of social safety net

Recklessness of governance

Insensitive government policies

Over-bloated government expenditure

Extravagant lifestyle of politicians at the expense the people

Poor government policies and absent of genuine reform

Budget padding and reckless spending

Irresponsible citizen and sycophants.

When all these are addressed, there won't be need to add or remove fuel subsidy

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 8:29pm On Nov 25, 2021
Perfectbeing:
what point exactly are you trying to make?

The 250bn is not being saved to be spent in those areas you highlighted.
Rather, it is to be spent on recurrent expenditure aka running the govt. Look at our budgets and you will see that if you put 250bn inside, it still makes no difference. The government structure is so big the revenues can't even meet the recurrent.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Rexwalters1: 10:24pm On Nov 25, 2021
Ttalk:


Stop making excuses for government.

What is the reason for subsidy in the first place?

Is it not because the refineries are not producing. Why not first solve that problem and make profit from refineries when remove subsidy.

As an oil producing country how do you explain it take a private company to build refinery when government can't dont have one single functioning one. Isn't that shameful?


Mumu private sector builds refineries not the state, stop living in the past.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Rexwalters1: 10:25pm On Nov 25, 2021
Agbegbaorogboye:


The 250bn is not being saved to be spent in those areas you highlighted.
Rather, it is to be spent on recurrent expenditure aka running the govt. Look at our budgets and you will see that if you put 250bn inside, it still makes no difference. The government structure is so big the revenues can't even meet the recurrent.
If you put 3 trillion Naira in the budget, it will make no difference? Poverty finish you for where you dey.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Rexwalters1: 10:27pm On Nov 25, 2021
Ttalk:


Fuel subsidy is not bad what is bad are

Corruption in Oil sector

Absence of social safety net

Recklessness of governance

Insensitive government policies

Over-bloated government expenditure

Extravagant lifestyle of politicians at the expense the people

Poor government policies and absent of genuine reform

Budget padding and reckless spending

Irresponsible citizen and sycophants.

When all these are addressed, there won't be need to add or remove fuel subsidy
Pay the correct price for fuel it is under priced in Nigeria, & stop waiting for subsidy.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 10:47pm On Nov 25, 2021
Rexwalters1:
If you put 3 trillion Naira in the budget, it will make no difference? Poverty finish you for where you dey.

You're quick to insult while advertising your ignorance. Divide the 3trn by the FG, 36 states and the 774 LGs and see if what accrues to each will make any difference in their budgets esp the recurrent. You can now come back and apologize for being so rash and uncouth.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by orisa37: 10:58pm On Nov 25, 2021
we-cant-continue-zainab-ahmed-says-nigeria-losing-n250bn-monthly-on-fuel-subsidy.


No. We can not. So stop all Subsidies.

Also stop The Loan of $30million that The FG is seeking from The World Bank. At this period of ELECTIONS towards 2023, it will tantamount to DASUKIGATE.

1 Like

Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by orisa37: 10:59pm On Nov 25, 2021
we-cant-continue-zainab-ahmed-says-nigeria-losing-n250bn-monthly-on-fuel-subsidy.


No. We can not. So stop all Subsidies.

Also stop The Loan of $30million that The FG is seeking from The World Bank. At this period of ELECTIONS towards 2023, it will tantamount to DASUKIGATE.

From Orunto27.
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 8:12am On Nov 26, 2021
backbencher:


If the Niger delta boys get together, and get technical partners, and there are many , to help them refine fuel to standard, then they would get somewhere.

That is what I said. I did not say locally refined petrol is bad. It is you who is building strawmen. I SAID THAT PETROL REFINED UNDER SUBSTANDARD CONDTIONS IS BAD...AND DANGEROUS.

Get it?

Or would you buy substandard drugs made in Nigeria because 'they are our own local production?' (Someone I know once did that for his child unknowingly and the child died. For nothing).


Irrelevant .


Yes, they have DONE THAT...which is why we have six refniereis, private under construction and 20 on the drawing board...and more to come once the subsidy goes.

It is like you aren't reading what I wrote....



There is noting wrong with our local fuel..so long as it is refined according to standard process with safety and environmental protocols observed

This your strawman is too big.




Yeah, because it is done according to standard protocols. NEXT.


So we should ignore safety, standards protocols...jsut to get cheap fuel

People die from things that are made without following the right protocols, you know.

So we should use substandard products because 'they are made in Nigeria' (Welll, well, well).

I am planning to use locally made fuel that has been refined by the globally accepted standard processes. Not illegally refined fuel that might mess up my car engine....

Nothing stops your Niger delta boys from setting up a refinery that is to standard, and works by the standard processes...not only would they refine more fuel, but they would make more money than an illicit fuel den.





So we should keep wasting money on fuel subsidy because the North will pay more for fuel.

Yeah, so what? Scaremongering.

Besides, more money due to subsidy removal=more profit=more investment in things like pipelines. Then the railways too are coming up....

Subsidies waste a lot of money.




@bolded shows the self-contradiction in your argument.
On one hand you say you support subsidy removal because that's the only way refineries can come.
I'm another breath you say we have six refineries under construction with twenty more to come while we have subsidy.
So which is which now?
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Rexwalters1: 9:02am On Nov 26, 2021
Agbegbaorogboye:


You're quick to insult while advertising your ignorance. Divide the 3trn by the FG, 36 states and the 774 LGs and see if what accrues to each will make any difference in their budgets esp the recurrent. You can now come back and apologize for being so rash and uncouth.
Ignoramus, keep displaying your ignorance pretending smart, but not been clever is Federal Government budget for States & Local Governments, don’t States & Local Governments have their own budgets? Lagos State has proposed a budget of 1.3 trillion Naira for next year, is that part of the Federal Government’s budget for 2022?

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