Seun:
As Rotus explained on AriseTV, Tinubu's inauguration speech was very good from a business POV. It 'Renewed my Hope' & made me start dreaming again.

Yes Tinubu's inauguration speech was very good from a business point of view but its terrible for governance. There is a world of difference between governance and business. The aim of business is to make profit, the aim of governance is to provide security - physical, social and economic security for the people.

However, PBAT's silence on the current fuel scarcity is alarming. His team should be telling him to complete subsidy removal ASAP.

That means he did not make provisions for the initial shock his announcement would make on the whole nation. He made a policy announcement without involving the various stakeholders in the system. There is even no cabinet in place to implement the policy.

Then Mr. President will be able to boast of having hit the ground running - by removing the subsidy that leaders have been trying to remove for several decades within his first days in office. The hardship we're currently facing will be the last that we will face

How? How can this be the last hardship we will face, when a 30 litres of petrol sells for N12k, when transportation cost has increased 200 -300%, when minium wage is still 30,000 officially (meanwhile some people earn 10,000 - 20,000/month)? Most importantly of all how can the hardship we're currently facing will be the last that we will face, when inflation that is already too high at 15% is about to reach 20 to 25% solely due to sudden increase is petrol prices without alternatives.

If Mr. President backtracks, then his bold proclamation on fuel subsidy removal will be seen as a costly blunder that bodes poorly for our future under him. He will be prolonging the suffering of Nigerians who are currently experiencing scarcity. They will experience it all over again when he finally removes the subsidy.

Nigerians had been rejecting subsidy because no provisions had been made to cushion the effect of the subsidy removals. No electricity, so every Nigerian citizen depends on petrol one way or the other to run their businesses. No mass transit system, so every citizen relies on petrol to get to and fro from their offices and businesses.

The president has an opportunity to get to the finish line of petrol subsidy removal before those who would oppose it can even start organising their resistance.

Believe me resistance would come. When people can no longer go to their jobs and business to earn a living, they will be left with no other choice but to resist.

All he has to do today is empower filling stations to price their petrol based on demand and supply, just like diesel. Then he should instruct the NNPC to announce that they will distribute fuel at the landing cost since the subsidy is gone. Fuel scarcity will disappear.

Shouldn't he have done all these before making the announcement? Should he have informed the independent distributors about the landing cost and the price and date it would be sold at the depot before making the announcement? Are we running a dictatorship or a monarchy? Should he not have informed all stakeholders be involved before implementing such a far reaching policy?

After the subsidy is gone, the poorest of us can be helped using a Rapid Response strategy. We can identify those who are struggling the most with subsidy removal & use the funds earmarked for subsidy payments in June to provide short-term assistance to them.

Later, Mr. President also needs to license at least 50 capable companies to import petrol into the country alongside the NNPC, duty-free. Their competition and duty exemption will prevent unsubsidised petrol from becoming too expensive.

Same as I explained above. A case of putting the horse before the cart. All these should have been put in place before making the announcement.

This will be a big win for Mr. President if played right.

Keyword here is played. Mr President announced the result before the game even started.

M4A1carbine:
Dude..don't punch above your pay grade. Everything is not useless banter, that is baseless in results. Countries put ....

Price Caps
Percentage interest
Production Volumes

.....to either counter inflation or mitigate against economic resessions. Economies that subsidise consumables, might even give tax holidays to major manufacturing firms to actually cushion the burden on the poor.

Even in that country, Muritala Mohammed instituted a price cap on consumables. So don't disgrace your self buy writing a Nonsensical reply..

Wetin pass you pass you..go play ludo.

More illiterate gibberish. No evidence, no reasoning, nothing but empty bluster from a badly-educated halfwit who thinks others can be commanded to supply goods and services at unprofitable rates simply because that's what his outsized sense of entitlement demands. If you had an IQ above 70 you'd count yourself lucky.

omohayek:

More illiterate gibberish. No evidence, no reasoning, nothing but empty bluster from a badly-educated halfwit who thinks others can be commanded to supply goods and services at unprofitable rates simply because that's what his outsized sense of entitlement demands. If you had an IQ above 70 you'd count yourself lucky.

It's not outsized sense of entitlement, it the benefits of submitting our sovereignty to the Nigerian government. Europeans have an outsized sense of entitlement for cheap food. Without agricultural subsidies, the price of food in Europe will be much higher than it is now. So what are we then entitled to as Nigerian citizens? Subsidised food, transportation or energy (no even all energy, just petrol)? Please remember we have an unlimited amount of gas (energy) wasting away or untapped.

Seun:
I suggested that govt should license at least 50 companies to import petrol in spite of the existence of the Dangote refinery because I don't want Dangote to have a monopoly on petrol in Nigeria. I want Dangote & importers to compete on price. Competition is very important.

The one that imports and the one that produces locally, which do you think will sell at a lower price? The competition is already flawed.

MasterJayJay:

The one that imports and the one that produces locally, which do you think will sell at a lower price? The competition is already flawed.

It's not necessarily about imports and locally produced, it's more about over reliance on petrol to carry out our basic duties. You can live and work for up to a decade in the UK without setting your eyes on petrol. Here even a newborn knows the smell of petrol.

Electorate:


Dangote Refinery is owned by foreigners, Aliko Dangote owns less than 1% of Dangote Refinery. FACT.

Who owns dangote group limited??

A001:

Shey dem don sell Dangote Group Ltd. to you? Lols, the conglomerate is owned by Aliko Dangote, its founder and largest shareholder.

Eye dey pain you ni? Didn't you see Dangote Group and Aliko Dangote as two separate entities on the list of shareholders?

coolitempa:


Who owns dangote group limited??

Start by asking yourself why Dangote Group Ltd is listed on the Nigerian Stock Exchange as a Public Company and not a Private Company.

CodeTemplar:
instead of this, N75k salary for 10,000 personnel to man borders and infiltrate smugglers comes to N10B/annum. That's like what subsidy thieves stand to make in a day.

Those 10,000 personnel will collect bribes from smugglers and it will be business as usual.

jmoore:
Dangote will start supplying on July and you want govt to issue licences for others to import.

If you listened to the NNPC chief executive’s talk, he said they have opened the flood gate for anybody who can import to come and get license. Infact they’ve made it easier and faster to be approved since last year.

That being said, Dangote won’t be paying for shipping and duties, he is sourcing his materials within Nigeria and refining within the country, essentially he can still compete favorably. They can’t pause licensing because Dangote is coming online in July, that’s setting the country up for monopoly. If dangote want to monopolize the market, let me sell it at a rate lower than the landing cost. All well.

Electorate:


Eye dey pain you ni? Didn't you see Dangote Group and Aliko Dangote as two separate entities on the list of shareholders?

Na you own the Dangote Group you see there? Lols. You listed Dangote Group, owned by Aliko Dangote, as the biggest shareholder in Dangote Refinery and still said the refinery is owned by foreigners.

Are you sure all is well with you

Seun:
As Rotus explained on AriseTV, Tinubu's inauguration speech was very good from a business POV. It 'Renewed my Hope' & made me start dreaming again.

However, PBAT's silence on the current fuel scarcity is alarming. His team should be telling him to complete subsidy removal ASAP.

Then Mr. President will be able to boast of having hit the ground running - by removing the subsidy that leaders have been trying to remove for several decades within his first days in office. The hardship we're currently facing will be the last that we will face.

If Mr. President backtracks, then his bold proclamation on fuel subsidy removal will be seen as a costly blunder that bodes poorly for our future under him. He will be prolonging the suffering of Nigerians who are currently experiencing scarcity. They will experience it all over again when he finally removes the subsidy.

The president has an opportunity to get to the finish line of petrol subsidy removal before those who would oppose it can even start organising their resistance.

All he has to do today is empower filling stations to price their petrol based on demand and supply, just like diesel. Then he should instruct the NNPC to announce that they will distribute fuel at the landing cost since the subsidy is gone. Fuel scarcity will disappear.

After the subsidy is gone, the poorest of us can be helped using a Rapid Response strategy. We can identify those who are struggling the most with subsidy removal & use the funds earmarked for subsidy payments in June to provide short-term assistance to them.

Later, Mr. President also needs to license at least 50 capable companies to import petrol into the country alongside the NNPC, duty-free. Their competition and duty exemption will prevent unsubsidised petrol from becoming too expensive.

This will be a big win for Mr. President if played right.

Egbon, it's nice to see you articulate to your noble followers like this..
Valid arguments and points raised.

Electorate:


Eye dey pain you ni? Didn't you see Dangote Group and Aliko Dangote as two separate entities on the list of shareholders?



Start by asking yourself why Dangote Group Ltd is listed on the Nigerian Stock Exchange as a Public Company and not a Private Company.

You sound dumb. They are two separate legal entities. Who controls Dangote group PLC?

A001:

Na you own the Dangote Group you see there? Lols. You listed Dangote Group, owned by Aliko Dangote, as the biggest shareholder in Dangote Refinery and still said the refinery is owned by foreigners.

Are you sure all is well with you

..... Dont mind him.

Skyview01:


Those 10,000 personnel will collect bribes from smugglers and it will be business as usual.

Not when there is a good leadership. Take Marwa in NDLEA for ezample

CodeTemplar:
Not when there is a good leadership. Take Marwa in NDLEA for ezample

I love Marwa. I followed him from his days in Lagos.

coolitempa:


You sound dumb. They are two separate legal entities. Who controls Dangote group PLC?

A001:

Na you own the Dangote Group you see there? Lols. You listed Dangote Group, owned by Aliko Dangote, as the biggest shareholder in Dangote Refinery and still said the refinery is owned by foreigners.

Are you sure all is well with you

Both of you are super daft, seek refund from the school you wasted your time and parents money.

[i][/i]

wirinet:


It's not outsized sense of entitlement, it the benefits of submitting our sovereignty to the Nigerian government. Europeans have an outsized sense of entitlement for cheap food. Without agricultural subsidies, the price of food in Europe will be much higher than it is now. So what are we then entitled to as Nigerian citizens? Subsidised food, transportation or energy (no even all energy, just petrol)? Please remember we have an unlimited amount of gas (energy) wasting away or untapped.

1. If you think Europe's Common Agricultural Policy actually decreased food costs for consumers, you have completely misunderstood how it worked and what it's effects were. It was a price support mechanism, intended to benefit farmers by putting a price floor on their products. What that translated into was higher food costs for the vast majority of Europeans who aren't farmers and have never even been to a farm. The CAP has always been a gigantic rent-seeking arrangement for a small group of highly cosseted farmers at the expense of the rest of the population, even the very poorest. Why would anyone of right mind wish to copy a scheme that even the EU's members have long recognized to be utterly harmful?

2. You talk as if every group of citizens has a "right" to be "entitled" to some product or other, but that isn't how economies work anywhere. All goods and services have their costs of production, and there are no free lunches in economics: if something is "free" to consumers in some way, someone else must be paying for it. Europe's economies are productive enough to tolerate even wasteful and anti-consumer schemes that tax the general populace to pay off small groups of rent-seekers like the farming lobby.

Nigeria, on the other hand, is an extremely low-productivity economy where most people are so poor they aren't even worth taxing, while the government is so bloated and has borrowed so much that just covering its interest payments to foreign lenders already consumes the entirety of its diminished revenues from selling unrefined oil. Where, then, is the money supposed to come from to pay for whatever it is you think Nigerians are justified in feeling "entitled" to? And why should it be in the form of subsidizing petrol, in a nation where cars are out of the reach of most, at the expense of primary education, clean drinking water, primary healthcare, roads, policing, sewage disposal and other such necessities? You write as if there were no such thing as an opportunity cost, and that we can afford to squander billions of USD annually on a scheme which encourages criminality through oil bunkering and the mass smuggling of artificially cheap petrol to neighboring countries, with no consequences for other domestic priorities.

The harsh reality that you and most other Nigerians refuse to accept in the face of even the most glaring evidence, is that the Nigerian federal government is broke, only managing to service its external debts until now by taking out fresh loans to pay off the old ones while wasting whatever little is left on a bloated public service and subsidizing the cost of fuel for the very wealthiest who own all the cars and big generators. Now that interest rates have gone up worldwide, the cheap rollover loans Nigeria depended on for the last decade are no longer available, and even if access to the debt markets hasn't completely closed, the interest rates now being charged to highly indebted African countries are so high they guarantee a future default unless the government can manage Chinese style 10% annual growth for at least an entire decade. This is a feat no Nigerian government has never achieved, so what is the alternative? Would you prefer that the government lighten its load by resorting to hyper-inflationary money-printing, Weimar Germany style? Because that is the track down which Buhari and Emefiele have headed over the last 8 years.

The time for delusions is over. The subsidy has to go as soon as possible, and large-scale privatization has to follow hot on its heels. That is the only way to avoid defaulting and being shut out of debt markets for a generation, alongside basket-cases like Venezuela. What Nigerians do or don't tell themselves they have a right to be entitled to doesn't enter into it in the slightest - they don't have the will or ability to bear the taxes to pay for such desires out of their own pockets.

Seun:
I suggested that govt should license at least 50 companies to import petrol in spite of the existence of the Dangote refinery because I don't want Dangote to have a monopoly on petrol in Nigeria. I want Dangote & importers to compete on price. Competition is very important.

Well said.

If Dangote is allowed to exercise monopoly of petrol supply in the country, we might as well be back to square One.

omohayek:

1. If you think Europe's Common Agricultural Policy actually decreased food costs for consumers, you have completely misunderstood how it worked and what it's effects were. It was a price support mechanism, intended to benefit farmers by putting a price floor on their products. What that translated into was higher food costs for the vast majority of Europeans who aren't farmers and have never even been to a farm. The CAP has always been a gigantic rent-seeking arrangement for a small group of highly cosseted farmers at the expense of the rest of the population, even the very poorest. Why would anyone of right mind wish to copy a scheme that even the EU's members have long recognized to be utterly harmful?

Is what you wrote up there not a paradox? Europe Agricultural Policy is a price support mechanism (subsidy) to benefit farmers but rather than reduce price of their farm products to the consumers, it increases it. How does that even make sense. Please explain.
For your information most industrialised countries if not all give agricultural subsidies to farmers to bring down the cost of food. Even some poor countries give agricultural subsidies.

You must be more intelligent than Einstein. A policy that's was debated and implemented by 27 European countries is the one almighty omohayek says is harmful. If EU members recognised that agricultural subsidies are harmful, why have they not abolished it.

2. You talk as if every group of citizens has a "right" to be "entitled" to some product or other, but that isn't how economies work anywhere. All goods and services have their costs of production, and there are no free lunches in economics: if something is "free" to consumers in some way, someone else must be paying for it. Europe's economies are productive enough to tolerate even wasteful and anti-consumer schemes that tax the general populace to pay off small groups of rent-seekers like the farming lobby.

As I have noted, you must be the Einstein of Economic to counter economic professors worldwide who advice their government to give their citizens one subsidy or the other to make their lives more meaningful. Me, I might not be an economic genius like you, but I was taught in elementary economics that the fundamental goal of economics is to get the greatest amount of satisfaction from available resources.
[/quote]

Nigeria, on the other hand, is an extremely low-productivity economy where most people are so poor they aren't even worth taxing,

False. Yes Nigerians are extremely poor, but the poorest in Nigeria pay the highest amount of taxes, particularly indirect taxes that does not enter the coffers of government. We pay all kinds of taxes both hidden and open on all services and goods we consume. Ordinary Okada riders pay up to 30% of their daily income on all kinds of levies, approved by the state governments.

Most of our billionaires and billionaires don't pay taxes, the ones that do pay token taxes for official purposes. Non of them has ever shown their tax receipts.

while the government is so bloated and has borrowed so much that just covering its interest payments to foreign lenders already consumes the entirety of its diminished revenues from selling unrefined oil. Where, then, is the money supposed to come from to pay for whatever it is you think Nigerians are justified in feeling "entitled" to?

Why not ask what the government does with the money it borrow at huge interests. Who enjoys the benefits of the borrowed monies - the government officials or the people? Why do you feel a few government officials of less than a million is more entitled to Nigeria's wealth - borrowed or earned than the other over 200 million Nigerians. Why do you feel that it is justified to use the same borrowed money to pay huge allowances and parks to former governors, their deputies and their wives. Lagos State Government is already paying 3 former governors huge allowances and perks, a time will come when they will be paying up to 6 former governors, ditto for all other states. And you are here talking about entitlements.
Have to go now.

wirinet:

Is what you wrote up there not a paradox? Europe Agricultural Policy is a price support mechanism (subsidy) to benefit farmers but rather than reduce price of their farm products to the consumers, it increases it. How does that even make sense. Please explain.
For your information most industrialised countries if not all give agricultural subsidies to farmers to bring down the cost of food. Even some poor countries give agricultural subsidies.

If you were more interested in determining how the CAP works, rather than attaining some meaningless internet "victory", you could easily have looked up the relevant Wikipedia article by yourself. It has all of the relevant details, with links to all the detailed analysis you could possibly want.

https://en.wikipedia.org/wiki/Common_Agricultural_Policy

Of course, I'm sure you already knew it was there, but you were more interested in "winning" an argument by whatever means than you were in learning anything that might not work in your favor.

You must be more intelligent than Einstein. A policy that's was debated and implemented by 27 European countries is the one almighty omohayek says is harmful. If EU members recognised that agricultural subsidies are harmful, why have they not abolished it.

I've been patient as you've repeatedly debased yourself over the last few years by engaging in patently dishonest argumentation on here, as with your endorsement of the "Amoda Yekini Ogunlere" insanity, or your pushing of a "Lagos is a no man's land" narrative you would never apply to your own Itsekiri homeland. It amazed me that someone who was clearly well educated, and also clearly capable of careful reasoning whenever it suited him, should be so quick to resort to the basest flim-flam and illogic for the sake of advancing his position. Here, however, by insulting me, you have crossed the line of what I am willing to tolerate.

There are only a few valid reasons for two parties to debate. The first is for each side to try to persuade the other of a position, but in your choosing to resort to personal insults while completely ignoring the substance of what I took the time and effort to write, you've shown that this isn't your aim, as no one is won over by insults.

The second reason to debate is to mutually try to ascertain the truth of a matter, in a Socratic process of examining it from every angle. Again, you have shown zero interest in doing so here, even though I know you have the ability to when it suits you. If you were one of the many less intelligent commenters on here who have little more than conspiracies and tribalistic insults to "contribute", that would be one thing, but you know better, and in your case it is clearly a choice to engage in bad faith argumentation.

You obviously don't care about either of the two aforementioned reasons, and as such I see no reason to engage with you any further. I don't have time to waste on bad faith argumentation, and as such, you can consider yourself permanently placed on my personal "ignore" list, along with all the crackpots and obsessives I'd never bother giving the time of day.

Seun:
As Rotus explained on AriseTV, Tinubu's inauguration speech was very good from a business POV. It 'Renewed my Hope' & made me start dreaming again.

However, PBAT's silence on the current fuel scarcity is alarming. His team should be telling him to complete subsidy removal ASAP.

Then Mr. President will be able to boast of having hit the ground running - by removing the subsidy that leaders have been trying to remove for several decades within his first days in office. The hardship we're currently facing will be the last that we will face.

If Mr. President backtracks, then his bold proclamation on fuel subsidy removal will be seen as a costly blunder that bodes poorly for our future under him. He will be prolonging the suffering of Nigerians who are currently experiencing scarcity. They will experience it all over again when he finally removes the subsidy.

The president has an opportunity to get to the finish line of petrol subsidy removal before those who would oppose it can even start organising their resistance.

All he has to do today is empower filling stations to price their petrol based on demand and supply, just like diesel. Then he should instruct the NNPC to announce that they will distribute fuel at the landing cost since the subsidy is gone. Fuel scarcity will disappear.

After the subsidy is gone, the poorest of us can be helped using a Rapid Response strategy. We can identify those who are struggling the most with subsidy removal & use the funds earmarked for subsidy payments in June to provide short-term assistance to them.

Later, Mr. President also needs to license at least 50 capable companies to import petrol into the country alongside the NNPC, duty-free. Their competition and duty exemption will prevent unsubsidised petrol from becoming too expensive.

This will be a big win for Mr. President if played right.

exactly....allow the marketers to agree on what is acceptable to them,then bring all of them to the negotiation table to talk about national max that is acceptable....

Seun:



I suggested that govt should license at least 50 companies to import petrol in spite of the existence of the Dangote refinery because I don't want Dangote to have a monopoly on petrol in Nigeria. I want Dangote & importers to compete on price. Competition is very important.

Seun, let us agree on this evening for the fp of that topic which never made fp and allow us debate.


Nobody is claiming anybody, we are just pointing out hypocrisy.


One minute they are igbo with benefits, i,e Amaechi, the next minute they are not Igbo.


This thread should be moved to culture and FP, that section is dead.



Seun mynd44 Dominique Lalasticlala mynd44 nlfpmod dominique Obinoscopy please send to fp, now that all contributors are still around to respond.


no point waiting 5 to 10 years to fp a thread.


https://www.nairaland.com/7710174/wike-collect-igbo-title-igbo