Esseite:
A whole minister just indirectly told Nigerians... he has no solution to the problem he was employed to tackle.. yet its business as usual..

I just hope Amaechi's quote of poor Nigerians rising up one day to go head on with these brainless animals come really soon. You have people leaving for work by 4:00am and getting home 11:30pm just to look for fuel, avoid queues and traffic, yet this donkey opens his mouth to say trash.

Uncle you can be angry all you want but he has not said trash. If you think he's clueless, then the UK, US and other very developed countries' ministers holding the same portfolio are also clueless. This is a global issue. It's not a Nigerian thing. Stop being myopic in your assessment of things.

Sixfiguresmart:
Then, shut down government until then. Will Tinubu say a word about this? No! Will he ever speak for Nigerians? No!

The Lekki incident should serve as a precedence to his rule. He will spray live bullets into y'all. You will die like birds.

The grandpas will do anything for power. Your kofe means nothing.

Bot alert

Bizibi:
before embarking on this there are other issues that has to be sorted out if not we will experience an uncontrolled hyper inflation. there are policies that need to be effective before deregulating, Nigerians purchasing power right now is low.

Be like say na only you get sense for here

Subsidywise20:


Well, since subsidy is eating more and more of our budget, and forcing us to take loans and such like....I am concerned it would impact our welfare badly...if it isn't.

Remove subsidy...and there would be
1.More investment in domestic refining
2.More government cash saved.
3.More jobs
4.More income for the petroleum sector...which can be taxed...more government income
5.Improved life overall

In return for a few years of high prices.

Yes...welfare will improve.

Keep subsidy, and we would have to take more and more loans to pay for the thing as prices of crude keep rising...plus no profits to invest in refineries...no external investment, no job creation.


P.S Don't accuse me of not caring. I have thought about this for eleven years. Before I was pro-subsidy.

economics is so broad that it is not that easy when one says it.... I hated subsidy but when i settled down and looked at the extent of the damage now,I had to go against 100% removal. If this administration had really diversify and keep most of The investors in 2016 and maintaining the forex rates we won't be having this problem of subsidy removal.

As at 2016 there were ppp projects that were worth above 16 billion dollars. Government incompetence and I don't care attitude made us lose.....if those projects are on ground now do you think president will be touring round the world begging for money.

An Indian CEO that wanted to build a 3.8 billion dollar refinery said he is not sure Nigeria will move forward and they were part of a 14 billion dollar ppp project that would have saved this country from the mess we are going through.

What I am saying here is if a government policies are weak and old fashioned with corruption,the country won't progress at all.

Simplythebest:
Oyo is ur case

BP

Subsidywise20:
Deregulation is the answer, but the government and the opposition are both waffling and wobbling over the matter, because politics.

At the end, if you want no queues, remove subsidy, remove government money, make NNPC private, and see if those dead refineries won't come roaring back, and new ones won't come up in minutes....

Yes, high prices, but yes...possible increase in investment and jobs, and government saves money.

Modifed

Before you quote me to shout 'Buhari nigbati nigbati opressor nigbati people will suffer you are wicked'....we are paying as much as 600 naira in subsides, up from below N200 last year, per liter...and that is going to keep on rising with rising crude oil prices. Especially since no one knows how long this war in Europe is going to last....plus subsidy costs have gone up from 2 trillion last year to 5 trillion this year, and rising.

Eventually, they will run out of money to pay for subsidies, and that means that they will take money from other sectors of the budget plus more loans to pay for your fuel to be N165 per liter or less.

So we choose our hardship. Either we keep on pouring money to feed the subsidy monster till it eats us, or we remove it, accept pain for a few years (I estimate that fuel costs could be up to N20000 or more weekly!) while the industry uses the profit to build up refining capacity, and government uses the money saved to pay for some things...like extra rise in salaries and minimum wage.

And for those of you moaning that government would chop the money...well, democracy involves holding the government to account. That means you and I get off our asses and start doing that.

And you think this Govt that couldn't account for anything would account for it?

dat9jaguy:



Your arguments are quite convincing but I have some reservations.
All nations, including UK, USA etc, run some form of social security. We have unemployment benefits, dependent benefits, etc that are given to their venerable citizens.
Nigeria, the only form of social benefits we have is the petrol subsidy and they want to take that away.
My own is there should be proper monitoring of the figures to curb corruption. Even in these developed countries their are still incidences of corruption but they monitor it carefully and almost always arrest the offenders.
Subsidy should stay until we have local refining capacity.

All those nations that have social security have one thing in common...higher tax to gdp ratios than Nigeria...which is why they can afford social security.

Gadgetmobil:


And you think this Govt that couldn't account for anything would account for it?

Abeg, that is what they have been saying for over 40 years...government will steal money government will steal money...yet you still trust the same government to pay your salaries and wages on time.

Which is being made impossible by the subsidy.

Tonnierichy:

You've spoken well. But no way in hell will the government completely remove subsidy this period. Even multimillionaires will go broke because of it. It's basically just impossible. And if you were the president, you also wouldn't do it. You make it look like it's that easy. Buying pms at 800 naira per litre.....lmao

Let them go broke.

Or if you were a businessperson, would you sell at a loss to help the poor? Be honest.

Tonnierichy:

Uncle you can be angry all you want but he has not said trash. If you think he's clueless, then the UK, US and other very developed countries' ministers holding the same portfolio are also clueless. This is a global issue. It's not a Nigerian thing. Stop being myopic in your assessment of things.

Please please please aunty, dont even defend these buffaloes whom call themselves leaders, like the developed countries leave for work by 3am and come home 12 midnight, they have a 55% unemployment rate, they are on minimum wage of $50 monthly... they have crude oil beneath their soil?.. so they have inflation at 18% and growing?.. what are you even saying...

Subsidywise20:


All those nations that have social security have one thing in common...higher tax to gdp ratios than Nigeria...which is why they can afford social security.

OK. Taking away the only social security net the govt provides should not be entertained.
The govt might as well increase tax because we know if they remove the petrol subsidy they will still be steady increment of taxes in subsequent years. So let them increase taxes, keep our subsidy and repair our refineries.

Subsidywise20:


The problem is, the cost of the subsidy is rising per annum because crude oil prices are rising.

So, unless you want a situation where you cannot get salary raises, new hospitals and schools, roads,and suchlike because 'it all has to go to pay for the subsidy' plus forex restrictions....subsidy has to go.

Unless you want a large budget deficit that has to be filled up with more loans, because we have to pour money into the subsidy monster...subsidy has to go.

Bro I understand everything you said but the Nigerian politicians will steal everything so forget all this things

9jii:

I don't discriminate base on Tribe, Age or color because we so much useless Young people from every tribe and color.

The youths don't need power to save this country but to work. Really work.

it's not about discrimination, it's about using your head. That man is hitting 90 and you want to vote him as president? Then when they become president you'll be complaining that they go for check up everytime when you had the opportunity to vote somebody who is fit and younger, make it make sense.

Esseite:


Please please please aunty, dont even defend these buffaloes whom call themselves leaders, like the developed countries leave for work by 3am and come home 12 midnight, they have a 55% unemployment rate, they are on minimum wage of $50 monthly... they have crude oil beneath their soil?.. so they have inflation at 18% and growing?.. what are you even saying...

Okay. Keep ranting then

Subsidywise20:


Let them go broke.

Or if you were a businessperson, would you sell at a loss to help the poor? Be honest.

A further partial removal fuel subsidy is inevitable. But the complete removal of it at this time is basically unrealistic. If multimillionaires go broke, what do you think will happen to poverty stricken Nigerians!? You are probably out of the country. You don't seem to have any idea how things are in the country.

Tonnierichy:

A further partial removal fuel subsidy is inevitable. But the complete removal of it at this time is basically unrealistic. If multimillionaires go broke, what do you think will happen to poverty stricken Nigerians!? You are probably out of the country. You don't seem to have any idea how things are in the country.

I do, and a big part of the reason is budget deficits brought about by the subsidy.

If we had removed it ages ago''like since 1993 for example or even 2011...we would have been earning enough income by now from exporting refined products...in addition to crude, and suchlike.

But everytime it was suggested wise people came and told us that it would cause a lot of suffering. Wise people came and kvetched about the poor suffering and so on and so forth.

Well, here we are. We did not take our medicine when we should have, now we are suffering for it. The money we could have used for other things is being used to feed the subsidy monster.

This government just gives themselves problem cos of politics, subsidy they should have allowed Jonathan to do when they effect would have been minimal, and would have adjusted by now, when the world is in precarious state.

Dreal1247:
What does it take to get our refineries working again? We have rogues and manipulators in Government.

We have at least one fuctional refinery only that it is located in Niger

https://www.thecable.ng/nigeria-signs-mou-to-import-fuel-from-niger-republic/amp

Subsidywise20:


I do, and a big part of the reason is budget deficits brought about by the subsidy.

If we had removed it ages ago''like since 1993 for example or even 2011...we would have been earning enough income by now from exporting refined products...in addition to crude, and suchlike.

But everytime it was suggested wise people came and told us that it would cause a lot of suffering. Wise people came and kvetched about the poor suffering and so on and so forth.

Well, here we are. We did not take our medicine when we should have, now we are suffering for it. The money we could have used for other things is being used to feed the subsidy monster.

It's quite sad. I share your thoughts. But it is what it is..... Perhaps we should hope Jesus comes soon. Cos I don't see it getting any better in a couple of years

Yeye shylock people they say privatise this and that yet we did not enjoy them . PNEPA to PHCN blackout or shedding has increased 100 fold .

Subsidywise20:


Then vote out APC, PDP, LP and SDP and NNPP and vote in new guys.

Simple.

Subsidy has to go. Before we end up taking money from our pockets to pay for it due to rising cost of crude oil.

We will talk about subsidy after this govt