subsidywise18:
This is a big reason why subsidy has to go.

Petrol costs above 300 naira in Benin republic. It costs 165 naira here.

Do the math.

Also every time smuggling of fuel happens it adds extra losses to our budget money.

Venezuela loses 18 billion dollars annually to the same problem. They sell pms at 40 naira..Other countries sell above 400 naira..Do the math

The US is suffering from staggering inflation as a result of their fuel price increase, once fuel price hikes it affects every other sector of the economy... let's not even talk about UK or germany whose economy is stumbling

My uncle called me to send him money so he can atleast fill his tank occasionally, he's a student in a university and at such commuting by car is extremely important......to fill a car tank over there now cost a $100 which may finish in 3days, meanwhile last year it cost less than $30 or so

Kaiair:

The US is suffering from staggering inflation as a result of their fuel price increase, once fuel price hikes it affects every other sector of the economy... let's not even talk about UK or germany whose economy is stumbling

My uncle called me to send him money so he can atleast fill his tank occasionally, he's a student in a university and at such commuting by car is extremely important......to fill a car tank over there now cost a $100 which may finish in 3days, meanwhile last year it cost less than $30 or so

On the other hand, due to subsidy

1.The petroleum sector cannot make enough profit to build refineries, and maintain exisiting ones properly (forget all that story about TAM...it ain't enough)...all of it goes on subsides.

2.We end up importing as the end result of 1 above...happens....

3.We are now spending all the excess money we should be earning from the hike in crude oil prices on subsidy..meaning we don't earn enough. On top of the debts we have to pay incurred as a result of low oil prices (and this government refusal to diversify the economy and our revenue base)

4.We get unnecessary increases in the amount we spend on subsidy because people are smuggling petrol across the border. So demand goes up artificially. At the end, we are subsiding fuel for large sections of West Africa. At our expense.

5.Inflation and low income and fall in value of naira results...more economic problem. No investment....because who wants to invest in a sector where you refine fuel at N350-450 and have to sell it below N170 or less ....because 'Nigerians are poor'.

Either way, we are messed up. At least if our petrol sector was allowed to make enough of a profit to build up refining capacity, we would have been a net exporter of petrol, and diesel and so forth....if we had removed subsidy since 1993, or even since 2011.

uuzba:

Adjust documents?
Say it well.
You are counterfeiting documents.

I don't know how come Ṣeun has decided to be irresponsible about illegal adverts on this site.

He likely doesn't know that he is being an accessory to crime:
- before the act
- during the act
- after the act

In short, Según's silence is aiding criminality.

supply IS danger

Omoslim26:
They must have been settling the custom officers before,but ran out of luck today due to one senior officer who doesn't pally with criminality
Kudos to the officer.
Na only myself,the good officer and 5 other people still get dignity for this country wey almost everybody nah criminal

Na me be the 5th person

Really

jojothaiv:

Na me be the 5th person

You sure
Hope sey you no be pro apc or ipob
Any body wey be pro this groups no fit ever ever be honest person for this life till 60million years
Ndi a bu ndi ajo mmadu

Omoslim26:


You sure
Hope sey you no be pro apc or ipob
Any body wey be pro this groups no fit ever ever be honest person for this life till 60million years
Ndi a bu ndi ajo mmadu

Pro APC or IPOB?

Never been a fan of the politicking, now we not be a good time to be one

jojothaiv:

Pro APC or IPOB?

Never been a fan of the politicking, now we not be a good time to be one

You sound like an honest person,well so it's the good officer,you and I and four other persons that are honest in this country of criminals.