samsard:
At the bolded, almost everyone uses gas now. Even mai' shayi now uses gas. kerosene doesn't have nearly as much reach and impact as fuel.

Yes, and everyone uses gas now because the kerosene subsidy was removed.

If kerosene subsidy had been maintained, the penetration rate for gas will be much lower than it is today. The economic impact from the expansion of gas use will be muted. Look around you and notice how many jobs and the level of economic activity gas infrastructure has generated. Some commercial companies can now move off the national grid because of the buildout.

The erstwhile cabals doing nothing but sending invoices to the FG and smuggling kerosene over the border to get double returns have turned their attention to more productive pursuits. And Nigeria saves at least $1b from not paying that subsidy.

Gasoline will be similar. Transportation prices will surge initially, but that'll level off in time. And if we were a serious country, $5b of the $8b saved should be earmarked to secure a $90b low-cost facility (at an avg. of 2%) from a mix of international development banks to build out our grid on a build for transfer model. Where the government builds with these low interest facilities that only governments can access, then sell them at significant premiums to a mix of international and local investors. Rinse and repeat. The jobs and economic activity from such a scheme should supercharge our anemic GDP growth rate.

Everyone benefits from this. The politicians, civil servants, regulators, banks, investors, operators can skim from the project and there'll still be a visible, impactful build out that changes the economic landscape.

But this is Nigeria. We go out of our way to make things hellish. It's like our favorite national pastime.

-Lord

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

If our refineries are working we suppose pay subsidy? It’s just pure wickedness since 2015 we have been on this issue why did they not use that time to start building a refinery and repair the ones we already have to meet demands ……

Tadadobe:


LoL. Austria! You no see better country go. Nigerians and inferiority complex. Na Dem you go see using another man's country to buga, like "I'm in the abroad, you're in Nigeria, I'm better than you" mofos

What do u know about Austria?

Nigeria is better than Austria right

You don't seem smart; sorry!

Jokkarm2:


Yes, Government will have lots of money to spend but the questions is will it be spent on education, roads, electricity, security, infrastructural development? or it will still end in the hand of few individuals that will keep enriching themselves ? i wish they will have developmental plans and execution plans for those monies

Your points are valid.

I would like to believe that Tinubu would be decisive. He's aware of many issues that are begging for answers. He's said it that he was prepared for the assignments.

He said he was the most prepared candidate for the job. Let's take him for his words and see how he would achieve the goals of making a serious impact.

My take is that Tinubu would not allow things to get worse than we have now by reason of the caliber of Nigerians he would assemble for the task of recalibrating the country economy and development.

Tinubu that I know wouldn't sit back and be watching his players (Ministers & Heads of Agencies & Govt Appointees), he monitors and steps in when necessary. Also, Tinubu fires once an appointee fail to deliver.

This is what is missing in Buhari government. Buhari hardly fire. Buhari would tell you what to do and he would just assumed you're on course. No monitoring of performance of Ministers DG CEO and other appointees.

Obasanjo and Jonathan tried a lot on monitoring of government appointees and their performance. Buhari didn't do well here.

He didn't rejig, Ministers became landlords in their ministries, some for 8 yrs while some for 4 yrs.

No reshufflement of Ministers, no fear of being removed, thereby making them kings in their respective ministries.

Tinubu would not take any of these.

blackpanda:


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

I checked but saw $1.86 a litre. Also do not forget our minimum wave is same as theirs.
No bandits to interrupt wealth creation process for money.

SmallDick99:
What do u know about Austria?

Nigeria is better than Austria right

You don't seem smart; sorry!

Motherfuvcker. Austria na Better country to you? If no be inferiority complex dey suffer una. Austriae? You no even go Australia

In my opinion. If it is done properly, it should improve the economy, the naira should also appreciate to about 200 to the $1. But as you know, this is naija with so many personal interest superceding that if citizens.
Remove subdidy, open the importation of fuel to anybody interested in importing. Open the refining process to dangote and any other person that can build a refinary and operate at a profit.
Petrol is a product just like any other item igbo traders import, if they will be competitive and make gain, allow them. If the big majors, otedola, Ifeanyi Uba, our SW business moguls that own hundreds of filling station can also source money to import, let them!
Government business will only be to regulate the quality, standard of fuel imported. Infact there will be 3 quality of fuel, the cheapest being for older models cars while the expensive unleaded fuel for newer, high end vehicles. Let fuel stations determine their price. People will no patronize those with high prices. There will be competition.
I assure you that naturally, price of petrol will fall within a year. If the local refinaries are cheaper, they will kick out the importers from the market.

[quote author=BigIyanga post=122586590]
The poor will get poorer [ God doesn't think like men. He may enrich some poor amidst subsidy removal.]

blackpanda:


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

This figure looks exaggerated. South Africa?

yesloaded:


Dangote refinery won't make it better

I expected this government to fix our refinery but instead they prefer to distribute $800m to imaginary 10m poorest household

It is well

That is it. Reasons why I never supported Jonathan in his second term bid was because of this so called issue. Why is it difficult for the Nigerian government to fix our refinery and pushing their ineptitude to the people. Why?

Subsidy removal on Diesel has made Diesel worst and made production very very high leading to inflation. Kerosene too has been removed and nobody even buys kerosene again sef due to the price. Yet you can't fix refinery to work na to push it to the people.

The money they were wasting on the trains and stuffs shey they can't use it to fix power and our refinery.

Just brace up, una go see shege. Buhari kuku knows what is at stake that is why he pushed it to the next administration.

Sodiki ologbon.

blaqtom:

If our refineries are working we suppose pay subsidy? It’s just pure wickedness since 2015 we have been on this issue why did they not use that time to start building a refinery and repair the ones we already have to meet demands ……

Nooo, it is rocket science to build a refinery you know. Pure rocket science.

Dafresh:

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

And people's votes count as well.

How can one buy fuel to drive, buy fuel to run our businesses and fuel to power generator at hone since we are not having reasonable power supply? Omo, this country really cast.

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

It will affect your business too..do you think hookup is immune to subsidy.

Difrent:


Yes they could have those things because they dont waste billions on petrol subsidy....they instead have effective transport system thats affordable.
The moment we stop petrol subsidy, some of these things will become achievable

Washing... Na today.....abeg talk another thing

Bfly:
Looking at how subsidy removal may cause hyper-inflation what is the possibility of those lesser Nigerian currency surviving because fuel at almost 750/litres may aswell wipe out #20 downward. This subsidy of a thing is getting real.
Imagine life after subsidy removal.

Subsidy is fraud against the poor and you are yet to see it. How many poor people have vehicles. The only thing that affects the poor from subsidy removal is relative increase in transport fare and foodstuffs that are not local to migrated poor.

I really consider your scare monger about subsidy removal as a threat to Nigerians against supporting the removal of subsidy which I see as politically motivated.

Our major concern should be to establish a working government that is working for every cadre of individual in the society.

A government working on actually subsidizing transportation for the poor and not creating more amenities for the rich while the poor are driven away from the city because of high cost of living brought by their developmental agenda that is focused on beautiful cities rather than beautiful people.

A government that is focused on investing hugely in refineries and actually running it effectively as an enterprise and not a civil service oriented business. A workforce that is more concerned about their beauties and official outlook can hardy give all it takes to establish a working enterprise.

A government that is out for business. It annoys me to hear that governments do not run businesses. Nigeria government needs to be starved of taxes and duties so they know what leadership is all about. How can an unproductive government lead a productive nation. We should have government owned industries in fabrications, constructions and processing, working efficiently to solve both national and economic problems.

We need much more from an effective government. But every government that has come are only working borrowed template from countries whose challenges are different from ours.

When you go through a thread like this, you will get to know where actually Nigeria problem lies...
The people...

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 explanation do you still want? You already know the answer to your question.

From the FG to the LG, they've been totally of no usefulness to the country. That's why I get angry when I see eediots online fighting themselves over being from one region or the other, forgetting that no matter your region, your local leaders are as guilty as the FG.

I challenge you to mention anywhere in the world that have cheaper education than Nigeria.

I said it earlier, wisdom come with researching not to just comment on bitterness.

Well it depends on which divide you are, I believe and hope for a better Nigeria.

It is possible

ChybuzzDD:


I won't be dragging comprehension superiority with one of the myrmidons of the corrupt and dirty Nigerian politicians.

Why are you focusing only on petrol subsidy??

That's the only one Nigeria can afford for her own citizens.

The western countries are not members of OPEC, but they have other forms of subsidies for their own citizens.

Free health is a form of subsidy. Can your Nigeria be able to offer that to her own citizens?
If petrol subsidy is the only one it can afford, then so be it. There's no reason yet to stop it.

isio1:
Just like the way the Dangote Cement Company has helped to control prices of cement in the Country. Forget it bro.

You can value what you have until it's no more.

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.

A lot of money to re-loot you mean? What really have they done with the one they had at their disposal

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.

As much as we have agreed that we need to remove fuel subsidy, what have they said will be a palliative measures for the economy. The mumu arrangement of shaing the borrowed $800million for 10million households 5,000 naira per month is the kind of dumb things that they do.
Our Governments are not and they have never been sincere with us if not eith all the noice about repairing the refineries we are still where we are till now

There is no subsidy in Togo and our other neighbours.
All the presidential candidates said they will remove it

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

They are not different from what they are before, looting will only increase and nothing to show for it will be the case. Thinking that Nigeria politicians most especially those APC politicians will make things better for the masses is just a mirage. Is it Gandollar the man with ATM machine on his body or Apkabio the looting devil or Orji the looting Maradona, Tinubu himself Mr bullion vans is their father in looting.

Go and have rest of mind, the two Accountants and Economists elected wii profound solution to it soon as they resume their respective offices.

😁😁😁😁😁

Ogbeniomo:
But it will make more sense if we build our own refinery.

I don't agree with this. If we remove subsidy, private business will be able to float refinery.

It is only in Nigeria a refinery what was built with government funds, get free crude allocation to refine, employee salaries paid by government will run at loss. It can't foot it operating cost. This is same with telecom and power. So, government has no business running business. Government should focus on sound policy

nedekid:
In my opinion. If it is done properly, it should improve the economy, the naira should also appreciate to about 200 to the $1.

I assure you that naturally, price of petrol will fall within a year. If the local refinaries are cheaper, they will kick out the importers from the market.

Corruption knows no limit because it is driven by greed.
The case of Dangote and Ibeto is classic example of how local production and contribution do not solve integrity issues. Today there is local production but we are buying cement higher than countries that do not produce it.

This kind of comparison is very insane. Let's try and be very logical
1. Do we have the same package interms of education?
2. Tell me the ratio of the income of those places compared to the cost of their education.
3. Nothing in Nigeria is costly when converted in other currency of first world countries so does it mean it is actually cheaper.
That's same way prices of fuel per litter is compared and ours look very cheap where as the cost burden on us here is more than it is in the countries where it was higher than ours.

tunwumi:
I challenge you to mention anywhere in the world that have cheaper education than Nigeria.

I said it earlier, wisdom come with researching not to just comment on bitterness.

Well it depends on which divide you are, I believe and hope for a better Nigeria.

It is possible

This comment is very interesting. The main issue is why palliative when it will disappear to ghost. Instead the fund should go to infrastructure like road, bridges, hospital, and industrial infrastructure for development.

dbestuncle:

As much as we have agreed that we need to remove fuel subsidy, what have they said will be a palliative measures for the economy. The mumu arrangement of shaing the borrowed $800million for 10million households 5,000 naira per month is the kind of dumb things that they do.
Our Governments are not and they have never been sincere with us if not eith all the noice about repairing the refineries we are still where we are till now

How many Nigerian from the low valued Nigeria education are doing well and even competing with the so called package education


Why am I educating you self? Abeg pack well

dbestuncle:
This kind of comparison is very insane. Let's try and be very logical
1. Do have the same package interms of education?
2. Tell me the ratio of the income of those places compared to their education.
3. Nothing in Nigeria is costly when converted in other currency of first world countries so does it mean it is actually cheaper.
That's same way prices of fuel per litter is compared and ours look very cheap where as the cost burden on us here is more than it is in the countries where it was higher than ours.

blackpanda:


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

Haba, not true. It's about $1.27 per litre which is circa N930 Naira.

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...

You mean the suffering and smiling type of resilience that has kept Nigerians in chains for years with little or no progress.?