harmless011:
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.

You got it all wrong..

This is the best comment so far

Evergreen4:
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

GoodStrongDick:


Travel to Anambra state yourself to verify or you can simply use Google to verify. No quote me again.

'E go favour me and my family" crew, how much you dey buy fuel now?

So nothing.
And yet

You here making noise about someone you did not verify(if you did it will be easy to Mention 1 thing he built

But you can't cos he didn't

Hope they did not give you pvc

I don't buy fuel

I no do pass myself
I live within my means

You should try it

Odewaleadesoye:
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.

In as much as I don't like the subsidy thing . . .

Do you guys really believe the government would spend the money on those highlighted areas.
This is like believing the devil.

That's my view.

chima47:
Thanks, l don't argue truth. You are very correct.

I’m glad you do.

The new president Bola Ahmed Tinubu (GCFR) should thread with caution.

The president and his team didn't expect the immediate backlash from Independent Marketers on his inaugural day speech where he informed the nation that based on variables " Subsidy is gone" . His publicists and Media aides had to immediately step-up for damage control

In all the crude oil derivatives , PMS is the most sensitive and is also termed as a " Security commodity " it affects the entire fabric of the economy including the cost of goods and service through transport cost.

The president should have been advised to converge an Intelligent all inclusive stakeholders meeting which will include Labour Unions, The TUC, Aliko Dangote, Independent Marketers, Transport Unions, State Governors and other Key players in the downstream sector, lock themselves in a deliberation room and ensure that all parties are adequately Informed to get their buy-in.

Subsidy removal on paper is fantastic considering the disposable savings which accrues to government with a projection of over N6 trillion, However if the cart is set before the horse, it will throw the country into an anarchist situation.

After the announcement of the adjustment in pump price yesterday 31/05/2023 to N488- N520 range, reactions have been coming out in trickles.

Wait till the ripple effect would be felt in coming days then the validity and depth of thinking on the timing of the removal would be seen.

The new president should have concentrated and nominated his cabinet whilst getting a sound think tank on this policy before execution of policy.

My own view with all d definition of subsidy i concur but would d return be felt.cos like kerosine,gas n diesel alrdy been subsudized wot we still face is untold hardship.now come to think of it ow can d price start at 500 plus, whr do dey want us to get d money to take care of dis from cos market ppl must ply from state/ town/ cities to get stuffs to sell n its woteva dey buy dy sell,but no incrmt from d buyers side to cushion d effect.dr shd av bn dialogue first,we are not people u can jst jump at n jst decide wot comes ur head.its gud to stop thieves but on a lesser price dn 500+

PRICE OF FVCK WILL GO UP

HOOKUP GIRLS AND ASHAWOS WILL KILL US WITH PRICE NOW

The idea of removal of subsidy itself is good but not good in current Nigeria where government don't have price control over commodities.

It is well known that fuel price is directly proportional to price of commodities in this country, you can't remove subsidy in fuel and have no alternative plan of easing the masses unrest of their daily needs.

I over heard people saying Nigeria is among the country that buy fuel at cheaper price than other developed countries, yes it's true but for a reason. Developed countries subsidised in the price of commodities, hence! their fuel price can fluctuate and commodity will remain stable, also they are mostly not over reliant on petrol.

But in this country we are so dependent on petrol that our government don't give value to so many other resources talk less of focusing on the Nigerian markets. Now that there is hike in price of PMS expect double hike in price of commodities, this will backfire in every angles unknown to the government and increase crime rates which is the backbone of insecurity.

This is the same reason why it has been difficult for any government to remove it all this long because the people will suffer and the government will battle with the repercussions. Which we know it will overwhelm the government.

Tinubu should encapsulate himself with best thinkers and good economic team else, he will end up wasting his tenure without achieving anything.

I support the subsidy removal, but it was done in a wrong way, many things need to be put in place before it is done, for example he should have worked on power supply to at least 15-20hrs per day, that will ease the burden, I must tell you, the money to fuel Gen in Nigeria per day is higher than money for tp, to be candid we are not reap for subsidy removal at this stage

madridguy:
I stand with President Asiwaju Tinubu.

The question the op asked was to give your take on the fuel subsidy removal.

Op did not ask who you stand or sit with.

You don't have to respond if you have nothing to contribute to the discussion.

Be guided!

EDUECO:
Subsidy removal is good only if it can be transferred to the government workers inform of increase in salary.

The subsidy money paid to government workers inform of salary increase will eventually get to those in the informal sector(bus drivers,market women, manual labourers etc)through the purchase of goods and services by the government workers.

I don't buy the idea of investing the funds realized from subsidy in infrastructure or agriculture sector;most of the funds would be embezzled.

Salary increment alway spikes "INFLATION" in Nigeria even before implementation.

The best solution is for governmen to divert subsidy funds in agriculture, transportation, health sector and see how they can upscale power distribution.

Stable electricity will go a long way to revive the economy

Before subsidy can be removed there are something that ha e to be putting in place . I believe the president that first introducing this subsidy if subsidy is actually been paid must ha e done that to in favour of the masses to refuse the pains .

When this government said he wasn't to removed it that means he wasn't to return the pains that one took away and before you can return it Nigerians are already suffering because our past government have not done anything that would makes us not to feel the pains.

Before subsidy can be removed, the government must do this

1 increase the salaries of the government workers so that when they are buying the fuel they won't feel it.

2. Makes sure the Electricity is stable so that the small scale business would not so much depends on the petroleum to run their business and and that would not courses increasing I in good and services.

3. Alternative means of transportation that can carry good and market commodities like railway, or providing buses at cheap prices for this reason so that the farmers wouldn't increase the price of farm products to the their buyers and the market sellers wouldn't used that as excuses to increase price commodities.


If those three are not providing it will surely removal of subsidy would add to the pains of the people because everything would rise up again. Our government should have look into into the important of this petroleum to the citizens and try to put alternatives in places before making attempt to remove subsidy

I support the removal but the lack of palliative care for shock is shameful and wicked

Some of us are tired of hearing about Subsidy removal. I have been hearing that as a teenager under military administration. I am above forty years old now and the same is still being discussed. Other issues we should be tired of are:

Turn around maintenance
East-West Road
Second Niger Bridge (Thank God we will rest from this one).
Railroad construction
Ballot box
devaluation
etc

Haba, move on Nigeria. Let it be removed once and for all for ever. We will survive. What we need to do is to hold our leaders accountable, first by taking them up on excessive extravagance as public officers like having several expensive cars and endless entourage/escorts etc.

Evergreen4:
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

A colonial master wannabe who confessed openly that he increased the salaries of the judiciary in Lagos by insane amounts to curb corruption is who you're expecting to scrap the senate? He'd rather increase their salaries to save cost.

xx

All leading presidential candidates in the last general election support fuel subsidy removal.
It shows that it has to go.

But my problem with the govt is that, subsidy=masses suffer
No subsidy=masses suffer.
They suppose to look for a way that will not affect poor masses

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