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Nairaland Forum / Nairaland / General / Politics / What Is Your Take On The Fuel Subsidy Removal? (15468 Views)
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What Is Your Take On The Fuel Subsidy Removal? by Odewaleadesoye(m): 11:34am On Jun 01, 2023 |
President Bola Tinubu (GCFR) on Monday announced fuel subsidy was gone because there is no budgetary allocation for it after June. What is fuel subsidy? Fuel subsidies are a form of government intervention to reduce the cost of fuel by providing direct financial support to oil companies, and as such, subsidise the product to consumers (Nigerians). Nigeria is one of Africa’s largest producers of crude oil, and it relies heavily on this resource for its economic growth. The 2023 budget proposed N2.557trn supplementary budget for fuel subsidy. Now to the main reason for creating this thread: "What is your take on the Fuel Subsidy Removal?" Personally I support this Subsidy Removal as it would free up resources for other sectors of the economy, money spent by the government on subsidy would be better spent on education, healthcare, infrastructure development, amongst other key sectors but only if the funds won't be looted by those in charge. Let's read about your own personal take on the fuel subsidy removal. 12 Likes 2 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Vischy: 11:38am On Jun 01, 2023 |
Poor implementation strategy and Poor planning to cushion the effects on the citizens. 32 Likes 4 Shares
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Re: What Is Your Take On The Fuel Subsidy Removal? by harmless011: 11:46am On Jun 01, 2023 |
The problem is that there is no subsidy removal, they just increase the price of fuel. This is the same template they have been using all this while. Buhari did that in the past and nobody questioned him, so Tinubu is just following the template. Before you can say that subsidy has been totally removed, there must be full deregulation. NNPC is still the sole importer of PMS, so basically they still call the shot as per the selling price of fuel in Nigeria. We can only solve the fuel issue when independent marketers are allowed to get the products from wherever they can find it, by so doing the government price control can then be broken. We don't even know the landing cost of pms, what we know is whatever NNPC told us, but when others are allowed to bring in fuel then there will be competition. Only then can we know exactly the real price of fuel. For now we are hoping the new admin will do the right thing, by fully deregulating the downstream petroleum sector. As long as NNPC still solely decides the price of fuel, we are yet to solve the problem of that sector. 100 Likes 7 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Worriedwife: 11:46am On Jun 01, 2023 |
It is good. The problem is we do not trust the government to plough back this money into the betterment of the country. That is why we would rather have subsidy as the only thing the common man gains from Nigeria 123 Likes 10 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Sasbet3737: 11:46am On Jun 01, 2023 |
Bad timing 17 Likes 2 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Samirana360(m): 11:46am On Jun 01, 2023 |
Nice move 5 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by madridguy(m): 11:47am On Jun 01, 2023 |
I stand with President Asiwaju Tinubu. 63 Likes 3 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by mrmaze(m): 11:47am On Jun 01, 2023 |
Normal rhetoric..money flows to other sector yadiyadiya.. One tin Nigerians don't know is that government dont care about the masses... 22 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by Kenosky1: 11:47am On Jun 01, 2023 |
The country is actually in a difficult situation, do we continue with subsidy and squander our future or do we stop and invest the proceeds into Agriculture, schools, health, roads and other infrastructure. Quite a dicey situation. THE MAJOR ISSUE IS THAT WE DON'T TRUST POLITICIANS 18 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by Olodomap: 11:47am On Jun 01, 2023 |
Make Dem remove ham 7 Likes 2 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Kingsize4eva(m): 11:47am On Jun 01, 2023 |
Nothing to say for now. 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by Lovenorth: 11:47am On Jun 01, 2023 |
It's good to remove fuel subsidy but appropriate measures must be put in to practice which include providing functional refinaries and ensure transparency and to be candid I don't trust Nigerian politicians until I see it 6 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by finallybusy: 11:47am On Jun 01, 2023 |
This thread is a trap. It was set to expose the low literacy of Nairalanders. Lord knows ignorant opinions will flow like streams. People who have zero idea of comprehending write-ups will spew garbage in the comments section. Godspeed as you wallow through idiotic vituperations. 8 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by Miracle1677: 11:47am On Jun 01, 2023 |
Ill time 4 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by Truthshscrazy: 11:47am On Jun 01, 2023 |
Vischy:Space booked! |
Re: What Is Your Take On The Fuel Subsidy Removal? by milky3(f): 11:47am On Jun 01, 2023 |
It is for our good, e go balance 3 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by Evergreen4(m): 11:47am On Jun 01, 2023 |
The subsidy that was removed from kerosene, diesel and gas, what did they use it for. Subsidizing fuel is the only way we the common masses enjoy anything from the government if not the politicians share our common patrimony amongst themselves. Before removing subsidy, government should make thinks easier by fixing up refineries, ensure stable power supply and improve transportation by providing workable rail system. All the time our government keep comparing the price of fuel in Nigerian to the price of fuel in Saudi Arabia but they don't compare the rail way and stable power being enjoyed by the Saudi's. Government should continue paying the subsidy and reduce the cost of governance. Salaries and allowance of legislators should be reduced, the office of minister of state should be collapsed and if possible we should practice a unicameral legislature by scrapping the senate. If am this is done, they will save cost 77 Likes 9 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Holluwhakemmy(f): 11:47am On Jun 01, 2023 |
It's good for our economy 4 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by sweetkev(m): 11:47am On Jun 01, 2023 |
Nigerians should expect more agony from this government. Your leaders don’t care about you. 4 Likes 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by Dedoo(f): 11:47am On Jun 01, 2023 |
Re: What Is Your Take On The Fuel Subsidy Removal? by milky3(f): 11:48am On Jun 01, 2023 |
It is for our good, e go balance and sweet us soon 1 Like 1 Share |
Re: What Is Your Take On The Fuel Subsidy Removal? by LagosG: 11:48am On Jun 01, 2023 |
We urgently need to enact policies that will favour Nigerians in the next 200 years. If we continue on this selfish path, where will we be in 2223? If Nigerians are till queuing for petrol in 200 years, they will curse all of us who are alive today. They will not curse the presidents alone. They will curse all of us. It will be drastic but these harsh decisions must be made. When you think about it, even with subsidy, we still suffer fuel scarcity and increments in finished product from crude oil so it's better the removal is permanent so we can know where to focus next. I know the subsidy seems like the only thing the common man enjoys but we must remember the generations yet unborn. What will remain for them? If we continue like this we will not be different from present day Haiti in 200 years from now. The current administration should make it an important task to get at least one other refinery back up and running before the first term is over. Giving Dangote a monopoly will never end well. It is shameful if we never see petrol queues in Venezuela, Saudi Arabia, Algeria, Iraq, Iran, Russia but you will see the same in Nigeria. It is very shameful. We're the most resilient race on the planet. We will pull through. Nothing can and has ever held us back. I hope the subsidy funds are channeled into repairing our ailing refineries. It's like having a big gbola but paying some average sized dick to service your woman. E no make any sense at all. 8 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by OgbeniOptional(m): 11:48am On Jun 01, 2023 |
Regardless of who is removing this subsidy, either Bubu or Bat. Subsidy just need to go. One guy for my area went into bunkering and shit and the guy is a billionaire. Imagine u stole it and govt still pay subsidy on stolen commodity. Procrastinating on this subsidy will only give the beneficiary more time to lobby people in Govt. Buari tried to remove it many times but lobbying thieves won’t let it be. Also, people should downsize their cars, it’s crazy how 1 person can own more than 3 cars in Nigeria. People with minimum wage have no business with cars if we want to be honest with each other. I only want minimum wage to be nothing less than #100,000, open borders fully cuz I don’t understand how imported rice is cheaper than homegrown after border closure, cbn should use daily black market rate for exchange rate too and watch how exchange rates will go back to near 2015 rate. Lastly, we Nigerians run, some of us are just plain wicked but as usual we always find someone else to blame. How can u hoard fuel u bought in old price from depot just to make x5 profit? Maybe it’s when people starts burning one or two stations hoarding fuel. Them go get sense. I just don’t like how some few people do evil and make the people blame govt. nonsense 10 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by osuolale95(m): 11:48am On Jun 01, 2023 |
We move |
Re: What Is Your Take On The Fuel Subsidy Removal? by davillian(m): 11:48am On Jun 01, 2023 |
They for divide the subsidy into two and remove half first 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by OboOlora(f): 11:48am On Jun 01, 2023 |
Tinubu’s supporters are daft and foolish just like their mentor! Who implements a policy without plan B? Even subsidy is a scam being used by some people to enrich their pockets, we all know Tinubu will look at how he can remove it but bring the enrichment to him and his cohorts. More than 80% of the population currently live below the poverty line and you still expect people to buy fuel for 600naira? Does he know that fuel price (just like forex) determines the prices of all most all other commodities? And if he’s relying on Dangote refinery to fulfill the daily consumption rate of fuel in the country, he’s matched up for doom. Sometimes I think there are culprits in every govt whose sole plan is to ensure the current govt fails. Amazing how people are just living with the pain, suffering and agony. No protests, just online ranting. It is well with the black race! 7 Likes 2 Shares |
Re: What Is Your Take On The Fuel Subsidy Removal? by Jossyroyal1: 11:49am On Jun 01, 2023 |
Not a bad idea if the resources will be plough back into other sectors 1 Like |
Re: What Is Your Take On The Fuel Subsidy Removal? by ManWater: 11:49am On Jun 01, 2023 |
Whatever the arguments in favor of subsidy removal, the fact is that the resultant increase in prices will cause (&already causing) more hardship for the average Nigerian. We only hope & pray that all the refineries would become fully operational so as to force down the current high price of fuel. 3 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by ImoleNaija: 11:49am On Jun 01, 2023 |
Even if subsidy removal is implemented a year after inauguration, the wailers go still wail. If Obi were the President, the wailers would have seen nothing wrong in the immediate declaration. The next propaganda is calling Tinubu........a dictator. 3 Likes |
Re: What Is Your Take On The Fuel Subsidy Removal? by Skyehigher1: 11:49am On Jun 01, 2023 |
I also support the subsidy removal because with tinubu remove it all the money will be channel to the right direction 4 Likes |
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