SLAP44:


Tinubu shamelessly protested against the removal of fuel subsidy which Peter Obi advised during Jonathan regime. Tinubu is an economic dunce.

another1:
Same Tinubu that fought ex president on the same fuel subsidy removal.
What a shame....

HenryThegreat1:


https://dailytrust.com/fuel-subsidy-favours-the-rich-more-than-the-poor-tinubu/

sweetgala:


Everybody fought the Jonathan fuel subsidy removal because it was so badly orchestrated and implemented and was intentionally done to shock Nigerians

Before that January 1 many Nigerians didn't understand the term "fuel subsidy", most didn't even know such a thing existed, the GEJ government made no attempt to notify the public and the investigations that came after showed the government to be involved in corruption to protect the beneficiaries of subsidy who has been involved in round-tripping etc remember that NASS list including FORTE(otedola) which lead to the Farouk Lawan incident was made public

Slurity:
If half of past Nigeria governors has same economic wisdom that Tinubu has, Nigeria will be far better than many country in Europe. Calling Tinubu an economic dunce is the most laughable statement I ever heard in Nigeria politics. Even Obi himself can say that rubbish. With that statement alone, I can tell the level of your I.q

Sunnyja:
So how is this one implemented now? In 2016, the government said subsidy has been removed and the price of fuel sky rocket even when the international prices of crude fell drastically.
In 2018, it was also removed and the price was also increased. Till date no body including you can prove to any sane Nigerian that Buhari subsidy regime implementation is better than that of GEJ.

Kobonaire234:
So why did you oppose Gej removing it?

In 2012 you and buhari could have put aside politics and mobilized people to support the removal of subsides then.

By now we would have been reaping the benefits.

Trust no politicians

HenryThegreat1:


https://dailytrust.com/fuel-subsidy-favours-the-rich-more-than-the-poor-tinubu/

SLAP44:


Tinubu is old. Old people cannot act anymore.

Slurity:
what is your definition of old? What is the current age of Joe Biden? What is the age of Mandela when he became president? BOTE for result, BOTE for person that know how to get results through the use of able hands. If old age is you4 excuse for not supporting him, you Ha e no point at all. Somebody moving round to do those rigours campaign is who you are doubting his health condition? Haba now. That man is not weak or sick . He is stronger than many youths

1.Let's start by saying that all the three main candidates support subsidy removal...even Atiku that four years ago was arguing for an expansion of the subsidy programme. Something's up when that happens.

2.At face glance, keeping subsidy 'helps' the poor. It makes things cheaper certainly (if subsidy went for example, it would cost me about N20000 per week in fuel costs. Yeepa.!)

3.The problem arises from how we pay for it.

a) Nigeria earns money from crude oil. The problem with crude oil is that basically it has to be above $100 per barrel for it to make sense for us economically. In the last 20 years, it has been above that for only seven of those years, which means we have to take loans a lot.

b) NNPC brings in fuel at N510 per liter, and sells it at N148 to the depot. The depot then sells to marketers...who sellit at N179. But as you can see....NNPC brings in fuel at N510.

That means NNPC is selling fuel at a loss basically. To keep NNPC from falling into bits...government pays them a large part of the subsidy money. If government had not been doing that, they would collapse. And it is getting more difficult.

The problem with NNPC is that no matter what they do, they have no control over international oil prices, or the cost of producing fuel. When we had refineries, we just simply pretended that they could run like eternal machines without need for much replacement...the result was that we went from 4 refineries in 1989 to zero by 2019.

Also, when NNPC is losing money yet free money comes in from government...that's a lot of incentive to steal and to loot. (A company that posts losses would be cutting costs and looking for money).

Either way, as production costs rise...so also does subsidy costs....which means that government has to start dipping into the parts of the budget for things like education, health, defence, transport, etc...to pay for subsidy.

This causes something called a deficit....which leads to government taking loans and lots of loans to cover that deficit....which in addiiton to the loans we have to take because of fluctuant oil prices...means that the debt profile is bad. (It is even worse for countries like Iran that have subsidized fuel, working refineries, and a debt of 431bn dollars. Compared to our own of 98bn )

Guess who pays the loans off....the same poor people you are defensive off.

Like I always say...we will pay the full market price for fuel...either at the pump, or at World Bank HQ and IMF HQ and People's Bank of China HQ in the future.