tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

close mark the federal govt. As they will have the largesse. The incoming govt has been hypocritical with subsidy before and I think they still will be.

blackpanda:


Even in south africa it's about $3 per liter (N2250)

Here we go again

always comparing prices without factoring their minimum wages, social infrastructure and the rest.

Paracetamol01:
Naira will stand shoulder to shoulder with dollar

You guys are really funny with your this currency shoulder to shoulder thing. Do you know what makes a currency strong.

Learn to use Google please.

uncleck:
Nothing significant. Kerosene subsidy was removed, we did not die. Diesel subsidy was removed, heaven did not fall. Cooking gas subsidy was removed, we all moved on. Naira is not tied to Fuel nor it's subsidy thereof.

There will be no hyper inflation as many predict. What causes the rise in price of commodities in this regard is mostly the haulage fare. Haulage is done largely with diesel and the effect has already been felt for some months now when naira fall pushed the price of diesel up.

What will happen is a mild rise of inflation orchestrated by rise in the cost of transportation. The effect will not be too significant

Oooga! The effect will be very significant. You no dey enter market ni to buy stuffs ?

Acidosis:


Since we are on a conversion spree, do you also know that the minimum salary of a domestic worker in South Africa is R2,929 (N74k)?


nowhere in South Africa is a litre of petrol sold for $3. The correct price is$1.3.

Many thanks for this.. I wanted to educate him with these same facts of yours and then some but it's unnecessary now!

Ray07:
Eyah . . .

What happens when Nigeria stops buying fuel in Dollars?! But pay Dangote Naira and swap crude oil?!

Nigeria would have more dollar in our reserves at CBN, we will have more dollar trading 2.5million barrel of crude oil daily.

When Nigeria makes $70 a barrel and sells $2.5mb and use 400k bdomestic, we shall make 175m * $ daily which is 300billion USD

Ever8090:
Whatever happens to it, Nigerians has gone through it all already, nothing scares us again...

As long as your minimum wage remains constant, there will be issues

It's not about saying nothing scares us again'

We need to hold government accountable to atleast put palliatives or repair build new refineries (which they campaigned with) before subsidy removal

Blackdeewhy:
Till this very moment, I find it difficult to know that an average guy in Rivers state boil/ produce petrol from crude oil (bunkering).

Yet our federal government CAN'T to make life easier for it's citizens.

Can somebody please explain to me?

Kpor fire

The need to remove subsidy is overbearing. You can imagine borrow to pay subsidy, no government or any economic sense that can justify this action.


So whatever it will land to, subsidy removal is the way to go.

Acidosis:


It is not the responsibility of the state governors to stabilize the naira, control fuel prices, or build refineries.

Let's stick to the topic. Why are you removing subsidy when the supporters of subsidy removal do not even know the gains? I mean we all can agree that subsidy removal will increase the pains of the average Nigerian, so why are you removing it?

If you cannot guarantee Nigerians that the removal of subsidy will help our FOREX, why are you removing it? The prices of cars have increased by over 150% over the last 7 years. Now you want to increase the price of petrol. Will this new increment revert the high cost of vehicles? These are the real issues/questions to ask.

If your government (politicians) have more money to spend, how will that benefit you as a nobody in a political party? Who told you that politicians have ever lacked money?

The only thing in Buhari's head right now is palliatives after subsidy removal. Go and check a front page thread. They have decided to pay 10 million Nigerians 5k per month for 6 month. This is the only thing in Buhari's head right now. We are back again to the NPower and palliative economy that had no real effect in the lives of 95% of Nigerians. Nothing has ruined the lives of Nigerians more than palliatives.

Sharing 5k to 1 million Nigerians, distributing stale loaves of bread to 50,000 homes, giving 2k in exchange of votes, and other internally displaced people's projects are some of the easiest projects any dullard can execute. This nonsense can never help any economy. Having an irresponsible government or a completely senile and consumptive retiree remove subsidy is not something I wish for....

Divoc19:
Let them bring it on. We are ready for anything . Am optimistic about this new government though

New government or same APC government. Just say new president

Blackdeewhy:
Till this very moment, I find it difficult to know that an average guy in Rivers state boil/ produce petrol from crude oil (bunkering).

Yet our federal government CAN'T to make life easier for it's citizens.

Can somebody please explain to me?

what they produce is diesel n kero not PMS....... Guess d prod. of Dies n Kero doesnt generate enough for d government to invest in its production

In everything that is done, there will only be more money available to corrupt leaders

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

So they've not had a lot of money to spend in developing the country all these while abi.....dey play


More money for them to thief!

BigIyanga:

The poor will get poorer

th OP said currency, not poor ppl

monex:


close mark the federal govt. As they will have the largesse. The incoming govt has been hypocritical with subsidy before and I think they still will be.

I don't agree with this, the responsibilities of FG in enomorous while we have many state governor that think their only job is to pay salaries.

Dafresh:


You mean for the past 63yrs Nigeria didn't start somewhere?

It's not how far but how well.....let them start first.

What about those that got admission into the universities at Old age and they graduated with excellent results.

Oga let them start first and be optimistic

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

As the poor adjusts to subsidy removal, many rich Nigerians get loopholes in the removal system to get richer.

Divoc19:
Let them bring it on. We are ready for anything . Am optimistic about this new government though

You actually see a new government?
Who will be new?
Festu Keyamu, Fashola, Lawal, Akpabio or FFK?

You can always believe whatever pleases you

SirLakes:


So they've not had a lot of money to spend in developing the country all these while abi.....dey play


More money for them to thief!

orisa37:
EMEFIELE WILL BE NO MORE. NAIRA WILL GATHER MOSS. TINUNOMICS WILL SHOW REAL SKILLS.

Another delusion in Laland. Emefiele tenure expires in 2024. CBN governors dont have magic wand to make $1=N100. Didnt GMP promise you $1-N1? What did u get… from N199 to N750/$1.

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

Who told you they dump subsidy? Even there agricultural sector is stil subsidized. They keep looking for ways to impoverish us more..imagine telling you how to spend your own money again...

I think Tinubu want to bring back Commodity price board for regulation.

If that worked, I think after some months, things will be better and the poor and the 'mekunu' will be adequately protected.

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

th currency will first lose value and within 6months it will gain strength dt is if the CBN continued its cash scarcity in a a small measure


at last we will b very better for it...

Nigeria should be the pessimistic capital of the world

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

One gullible fellow spotted.

Is it today people like you started trusting Nigerian politicians?

You're either very young or new to Nigeria.

Surely, you'll be disappointed at the end, after realizing the money will be diverted to personal use while the people suffer for nothing.

There's no reason for a 3rd world country with about 133million poor citizens to completely remove subsidy when the rich western countries have one form of subsidy or the other for their citizens

Na your type go soon dey beg for money on social media

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

blacksam01:


th OP said currency, not poor ppl

So you dont see the direct effect..? Did you take logic class? So when inflation goes up, poor people will have money like Dangote to spend?

There is no government that is honest. Jonathan's government was not honest at all.
Oil went high to $147 and he met $50B external reserve, he didn't fix anything instead he was busy Sharing to fellow thief.

I don't believe in Buhari nor Tinubu nor 👿 Obi himself.

They are all alike. If you read animal farm by George Orwell, you will understand. It is merry go round

do4luv14:




This removal would had been done when we had an honest govt, who had plans to reinvest the proceeds from the removal,

Not now we had a very dishonest living and thieving Govt,

BTW it is well

Dafresh:

All those advance countries have stable electricity, good health care system good roads everyone is equal

I was going to say this. If we have steady power supply, there's no reason subsidy removal will have such a great impact on the economy.

jkpbestseries:
Why not build our own refinery if an individual can

Dangote "game changer" refinery nko? This is why leadership sincerity is important.

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

Yes yes, keep treating Nigerians like frogs in a microwave...they are resilient.