Domainer1999:

Bro, I fear the economic impact this removal of subsidy will have on the poor, not many will survive it.
Hence I'm looking for support in my business to prepare myself before I got caught unawares?
I'd be glad if you can support me.
Thanks.

Kobonaire234:


Oga, subsidy must go.

Or your business moneu will be used to help settle debts at imf and Beijing

IbeOkehie:


The world market price of petrol for any given day can be found here

https://www.investing.com/commodities/gasoline-rbob

That's all there is to it. That's the price at which NNPC can buy it anywhere in the world.

Right now, at this moment, the price of a gallon of petrol is $2.30.

4 litres = 1 gallon, so one litter price ~ $0.60

Convert to naira using CBN rate to get ~ 275.

Convert to naira using free market rate ~ 460.

So the price of fuel in Nigeria without fuel subsidy should be above ₦275.

The price without forex subsidy should be ₦460.

There's no mystery to this. The info is freely available. Anyone can call the sales office of any refinery in North America, Asia or Europe and this is the price that will be quoted.

This is the price at which Dangote must also sell or his refinery will shut down. The only way he can sell for less is if the government pays him a subsidy. Are Nigerians ready for the Nigerian government to pay Dangote ₦2 trillion per year to supply fuel for Nigerians?

If Nigerians want their country to prosper, then all subsidies must go. Aside health and elementary education, government should get out of the market. Allow Nigerians to produce, buy and sell whatever they want to or from any country or any person at their freely chosen price.

Yes Nigerians will suffer but that is how other people suffered to make their countries better. Everything isn't about today, think about 20 years from now.

It's OK too if Nigerians don't want to suffer, it's very understandable.

Just know the choices available are set and unavoidable.

Thanks.

Wickedfact:


I guess that explains your stupidity and lack of parental upbringing. I now see where your mannerlessness comes from. You didn't get proper home training.

ican2020:
You and your fellow presidential candidates should stop all this childish talk

Tinubu of APC said the same thing and some people where praising him just as people we rush to praise you

What is subsidy?

You shunned the root cause of fuel crisis and focused on chasing shadows

Is there any major top 10 oil producing country in the world that is importing refined fuel for their local consumption, the answer is no

So, why are we importing refined fuel instead of refining it locally and exporting both crude and refined fuel to other countries

If any of you must remove subsidy, you must first remove the monopoly in refine fuel importation

Nigerians and business owners who are interested in importing fuel must be allowed to do as long as they can import products that meets minimum standard and also have the facility to store them before distribution

Take the case of GSM handsets, when it was first introduced, ordinary Nokia touch light cost over 40k but when many Nigerians dived into the importation of handsets, prices of phone crashes

Same thing will happen to fuel if government will for once consider Nigerians plight, remove the monopoly of NNPC, allow more players to import fuel into the market, price will fall below 100 naira

Kobonaire234:


On the other hand, we keep subsidy....the cost keeps on rising...the deficit keeps on rising....and then we take more loans to cover our asses.

Either we pay market price of petrol at the pump....or we pay it at IMF HQ, and China People's bank HQ. You want us to take more loans.

Subsidy must go. PO, Atiku, Tinubu, even some of the minor candidates don say am.

obynzo:


Eastern region used coal and Agriculture and they were the fastest growing region than the west in the late 50s till 67.

ganisucks:


https://www.channelstv.com/2023/01/08/its-organised-crime-obi-vows-to-remove-subsidy/

Fearyourcreator:

The masses are only angry cus they are not the ones chopping the money not that they care if Nigeria is fine... The masses are as corrupt as the leaders...
Nigerias problem is both the masses and the leaders... It needed to be solved from the smallest unit

habsydiamond:
no one is saying subsidy must not go.. what am saying is the government must increase the salaries of worker so that they can meet up with whatever that comes out of the subsidy removal

ganisucks:
Rubbish. You'll do no such thing.
I watched the townhall today, and I must say, it was a poor display of two men who are as alien to each other like North Korea is indifferent to Switzerland. The President and his vice are complete cross opposites of each other. And they made it blazingly clear that they are in disagreement over some hidden issue unbeknownst to the public.

This is my personal appraisal of their performance at the townhall

Overall: 40%

Grammar: 35%

Presentation: 38%

Understanding and comprehension: 39%

Dissemination of information: 40%

habsydiamond:
I won't argue.. all I need know is if the government remove subsidy without planning it will backfire on the masses

rickpat:
that's just it

quentin06:
Build a working refinery first, dont just remove subsidy because you want votes from the north.

Fearyourcreator:

If I come here I only come to see how adults keep decieving themselves...

rickpat:
hahahaha...I think I will just adopt your style..no mind saying anything... Nigerians are so selfish and unpatriotic.. tribalism and religion has finish this nation

copyrites:


We definitely did not watch the same program. Perhaps, you were busy mesmerizing that Microphone lollipop licker

IbeOkehie:


No, they will buy at the same price as everywhere else unless their government is somehow putting an extra tax on the fuel.

rickpat:
inflation will hit Nigerians harder once fuel prices go up..removing subsidy when you are not sure of getting the products internally,still depending on importation..na look I just dey look,e be like na juju this POLITICANS dey use,cus i don't understand how Nigerians buy all the nonsense these POLITICANS spill on daily basis

oga,tell us how you will tackle INFLATION..Nigerians ain't asking the right questions...our POLITICANS are too free and not tasked appropriately

Fearyourcreator:

I go to the ministry well... If you see jazz blackmail a lot going on there.... The last is most there are very lazy... Very very lazy... They don't want to do anything than to collect bribe... And anyone hardworking among dem ... They hate no be small... These people their Pikin dey NL abusing politicians... Person wey be say na bribe them dey chop for house... Their uncles anuties brothers sisters fathers mothers sons daughter ... But you will see them abuse government ...
Sometimes some people here will make you talk but dont be over dragged ooo...

HoneySwag:
Removing fuel subsidy is not an issue, but you can't remove subsidy and expect Nigerians to buy fuel at an exorbitant rate. It's either you get the refinery ready or you remove the monopolization of NNPC over the oil sector, so other companies can take part in the supply of fuel.

Every candidate is planning of removing fuel subsidy, but what's the way forward? Get the refineries ready before doing so or remove monopoly from NNPC. I don't want to buy a litre of fuel for 1500 or pay so much money for goods, transport, etc because ones fuel subsidy is completely removed, the price of fuel skyrockets which automatically affects every sector in the country.

rickpat:
inflation will hit Nigerians harder once fuel prices go up..removing subsidy when you are not sure of getting the products internally,still depending on importation..na look I just dey look,e be like na juju this POLITICANS dey use,cus i don't understand how Nigerians buy all the nonsense these POLITICANS spill on daily basis

oga,tell us how you will tackle INFLATION..Nigerians ain't asking the right questions...our POLITICANS are too free and not tasked appropriately

Starzo:

Where you take dey buy fuel 450?...na 350 be highest I know o

occfx:


You are not a business man, you cannot sustain economy artificially for long. The real price of fuel is 500+,... Yes it will cause inflation but we will be working with reality. Minimum wage and salaries will be reviewed accordingly and everyone will stabilize. If we face our real economy, minimum wage should be 200k. If we explore further in production, the economy will balance and everyone will be happy. We just have to produce food in abundance and Nigeria will be great.

IbeOkehie:


No refinery will be sustainable in Nigeria as long as fuel subsidy exists and no real business man will build one before subsidy is removed.

Dangote only took the risk because he has political connections AND he was given subsidized forex to pay his costs. That is publicly available info.

Even with that, if Dangote starts producing and government is still controlling prices, he will eventually have to shut down.

Dangote will ONLY sell to Nigerians at world price. If Nigerians can't or won't pay, he will EXPORT his fuel to the world market.

These are simple realities. So whether the fuel is produced locally or imported, there's only ONE price for fuel in the world. Those who try and avoid that price end up with big problems.

Go check out what happened in Venezuela, the country with the world's biggest crude oil reserves...yes, it's NOT Saudi Arabia. Venezuela has the most crude oil and yet they IMPORT all their fuel and also have fuel scarcity. I challenge anyone to check.

The price is the price. Pay or face the PAIN.

rickpat:
minimum wage that the government only implements for government workers only...only few private sector pay 30k...do you know most people earn below 30k in this country?...the true definition of minimum wage is not practiced in Nigeria...abeg keep minimum wage matter out of this gist abeg

ican2020:
You and your fellow presidential candidates should stop all this childish talk

Tinubu of APC said the same thing and some people where praising him just as people we rush to praise you

What is subsidy?

You shunned the root cause of fuel crisis and focused on chasing shadows

Is there any major top 10 oil producing country in the world that is importing refined fuel for their local consumption, the answer is no

So, why are we importing refined fuel instead of refining it locally and exporting both crude and refined fuel to other countries

If any of you must remove subsidy, you must first remove the monopoly in refine fuel importation

Nigerians and business owners who are interested in importing fuel must be allowed to do as long as they can import products that meets minimum standard and also have the facility to store them before distribution

Take the case of GSM handsets, when it was first introduced, ordinary Nokia touch light cost over 40k but when many Nigerians dived into the importation of handsets, prices of phone crashes

Same thing will happen to fuel if government will for once consider Nigerians plight, remove the monopoly of NNPC, allow more players to import fuel into the market, price will fall below 100 naira

ganisucks:


https://www.channelstv.com/2023/01/08/its-organised-crime-obi-vows-to-remove-subsidy/