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Nairaland Forum / Nairaland / General / Politics / Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React (92991 Views)
Fuel Subsidy Removal Nigerians Cries Out / Northern Elders Bemoan Insecurity, Ask Buhari To Resign / North-East Govs Bemoan Inability To Try Boko Haram Suspects (2) (3) (4)
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Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by orisa37: 9:36am On Jun 03, 2023 |
NIGER, CAMEROON AND OTHER REPUBLICS AROUND NIGERIA BEMOAN TOO. IT IS KARMA COMING. 1 Like |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Zaccshegzy(m): 9:36am On Jun 03, 2023 |
AmazingELixir: This no fake news, I live around Badagry and I used to see what this petrol smugglers do sometimes, women will tie petrol inside some nylons and sacks to smuggle them, and even tankers from Ghana too moving our fuel through that border. 1 Like 1 Share |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Dougad: 9:37am On Jun 03, 2023 |
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Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Corea4king(m): 11:07am On Jun 03, 2023 |
Demurray: Nothing like that. The reason is because,those in power are more corrupt than the securities. If a sincere person is in power,every unit of security will be hold accountable |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by obi58: 11:23am On Jun 03, 2023 |
justmondris: When people with sense are talking you should keep quiet so that you don't expose your foolishness. It's people with low brain capacity that resort to insults instead of stating their positions logically and responding to opposing views like adults with sense and proper upbringing. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by obi58: 11:32am On Jun 03, 2023 |
nairalanda1: I didn't reply because it's a faulty question to start with. You have not been able to give any meaningful response to the points I raised however. If you had bothered to read what I wrote you would have seen that removal of the subsidy is not the issue but the timing of the removal and the fact that there are a whole lot of things government is supposed to resolve before removing subsidy like fighting corruption and smuggling, ensuring transparency and accountability as well as getting our refineries working and providing all the necessary governmental support to ensure cost of production is as efficient as possible as this ultimately will reflect in domestic pricing and profit margins. It would also reduce our FX demand which will help strengthen our naira as exports of oil and refined products will drive FX inflow and boost our reserves. Hope you now understand the need to supply crude oil to refineries in naira? PPS selling crude to refineries in naira will also free up more needed FX for other sectors of the economy. Objective of government is to serve the people and provide an enabling environment for businesses to thrive. No individual will open a business to run at a loss. However the individual can put together packages and programs to give back a certain percentage of his profits or wealth which is the corporate social responsibility I alluded to earlier. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by nairalanda1(m): 11:43am On Jun 03, 2023 |
] obi58: It isn't and you did not answer because you know your answer would be no. And if it is no, your support for subsides on petrol sounds problematic. If you had bothered to read what I wrote you would have seen that removal of the subsidy is not the issue but the timing of the removal and the fact that there are a whole lot of things government is supposed to resolve before removing subsidy like fighting corruption and smuggling, ensuring transparency and accountability as well as getting our refineries working and providing all the necessary governmental support to ensure cost of production is as efficient as possible as this ultimately will reflect in domestic pricing and profit margins. It would also reduce our FX demand which will help strengthen our naira as exports of oil and refined products will drive FX inflow and boost our reserves. Hope you now understand the need to supply crude oil to refineries in naira? Even if we do all those things, and we should....the problem of the difference between the subsidised price and the cost of production rising AND the rising number of consumers is STILL there. And the more both rise, the more it eats into our limited revenue, and the more the subsidy grows, the more it reduces our revenue...and forces us to borrow more and more to cover the resulting deficit. See, the problem with subsidy is that it costs money to refine petrol. Unless you want to force domestic refiners to refine fuel at a loss making cost, or force crude oil extractors to sell at half the price to refineries, or you want to make people who own refineries start skimping on refining costs, there is no way you can adequately subsidise fuel. The prooblem is people need to make a profit, to cut a long story short, to run businesses, including refineries, effectively. And if they refine at a profit they have money for jobs, which helps the poor greatly. Objective of government is to serve the people and provide an enabling environment for businesses to thrive. Welfare...is what it is called. But the problem is, welfare is funded by taxes. And in Nigeria, less than 40% of eligible people pay tax. Our tax to gdp ratio is lower than even Niger Republic self. Poor income from taxes makes us rely on oil...which is not enough to give us an sustainable income. And NO, i AM NOT EXCUSING CORRUTPION...the corruption makes things worse. No individual will open a business to run at a loss. However the individual can put together packages and programs to give back a certain percentage of his profits or wealth which is the corporate social responsibility I alluded to earlier.[/quote] Which our petroleum sector does in things like scholarships, community development projects and roads and so forth. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by obi58: 11:48am On Jun 03, 2023 |
nairalanda1: Please read this and educate yourself. https://www.nairaland.com/7713443/president-tinubu-dangers-fuel-subsidy Any responsible governments duty is to ensure the welfare of the citizens and not vice versa. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by nairalanda1(m): 11:50am On Jun 03, 2023 |
obi58: Oga, I have been doing this for eleven years. And I have read that article, and responded to it. If you want subsidy, we have only these things to do 1.Pray that oil raises to $130 per barrel OR 2.We all pay higher taxes, and also make sure everyone pays taxes. (Countries that have subsides pay for them via taxes. We don't). |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by obi58: 12:00pm On Jun 03, 2023 |
nairalanda1: Well I have been on this for over 15 years so that's nothing special. Price per barrel should not influence our domestic oil production. That's why we should sell in naira to refineries here. In fact if we start refining and boost our refining capacity we will benefit from oil price rises as we export the excess refined product to other countries at international prices. Bros please read about progressive taxation and how adopting the right taxation system can grow the economy and vice versa. Also we need to first ensure that government agencies are actually remitting all they generate. Corruption again. So many corporate bodies and wealthy Nigerians are undertaxed or not even paying tax so the effectiveness of the tax system also needs to be examined and refined. So much to do if this government is serious about getting it right and moving this country forward. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by lexy2014: 12:47pm On Jun 03, 2023 |
justmondris: Who are these "oil cabals"? Can you pls name them? How do they get to the border and thereafter across the border? If you call subsidy a scam, then there are scammers. Are these scammers ghosts? |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Cybertext(m): 1:20pm On Jun 03, 2023 |
Kukutenla: Rice, textile, cars Jacked up Do you realize we also have Sea Ports in Nigeria and if not for the useless Buhari border closure policy those items you mentioned would be cheaper in Nigeria than in Benin? Are you aware that Benin is the second highest importer of Rice in the world because of the Nigerian market?? My prayers is Tinubu should fling open all the border restrictions policy of those items and see how prices of those goods crash down instantly. 1 Like |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Gajagojo: 1:37pm On Jun 03, 2023 |
thatigboman:You ar not thinking clearly We Do not produce petrol Oil and petrol are very different things. The latter has added value It would surprise you to learn that the United States is the largest producer of crude oil in the world. They do not subsidise petrol By your logic we should subsidise garri since we produce cassava We should has very cheap chocolate because we produce cocoa The earlier we get rid of entitlement mentality the better We produce oil because companies invested billions in finding it with a view to making profit. They pay taxes and royalties which fund our budget and that should be that |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Gajagojo: 1:38pm On Jun 03, 2023 |
thatigboman:You are not thinking clearly We Do not produce petrol Oil and petrol are very different things. The latter has added value It would surprise you to learn that the United States is the largest producer of crude oil in the world. They do not subsidise petrol By your logic we should subsidise garri since we produce cassava We should has very cheap chocolate because we produce cocoa The earlier we get rid of entitlement mentality the better We produce oil because companies invested billions in finding it with a view to making profit. They pay taxes and royalties which fund our budget and that should be that |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by CodeTemplar: 3:26pm On Jun 03, 2023 |
nairalanda1:Nonsense. I hope 3 million men manned the borders during closure and food import embargo from neighboring countries? Keep exergerating alternative to sell the subsidy removal idea. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by nairalanda1(m): 3:27pm On Jun 03, 2023 |
CodeTemplar: K. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by CodeTemplar: 3:32pm On Jun 03, 2023 |
nairalanda1:backbencher. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by nairalanda1(m): 3:34pm On Jun 03, 2023 |
CodeTemplar: L. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by CodeTemplar: 3:39pm On Jun 03, 2023 |
nairalanda1:Peka. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by nairalanda1(m): 3:40pm On Jun 03, 2023 |
CodeTemplar: M. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by justmondris: 4:41pm On Jun 03, 2023 |
lexy2014:Oga keep asking me Jamb questions |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Microwhy: 5:35pm On Jun 03, 2023 |
Bobloco:You typed flawlessly but with zero sense. Is it Tinubu that remove subsidy? You want Tinubu to go bourdillion and subsidise fuel from his bullion van? No budget for subsidy beyond June which Buhari has made clear ever since. Tunibu have no option than to do the pronouncements as early as possible and as both Nigeria and international community are watching live. Your Job is to educate people and let see where the removal is gonna lead us. Everybody have one or two reservations about the subsidy removal but let watch as things unfold. 1 Like |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by gaskiyamagana: 6:18pm On Jun 03, 2023 |
Bobloco:Automatically, masses would suffer whenever government refused to do their jobs, it is logical. Its left to the government to stop at nothing to do their jobs so that masses would enjoy . |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Reussite: 6:33pm On Jun 03, 2023 |
Quintopia:Lol I'm no mugu but you could be if you believe this subsidy scam. I just realized we have been lied to this whole time. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by deavicky(m): 10:13pm On Jun 03, 2023 |
DOptical:corruption everywhere. Why can't they be stopped at the border. |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by lexy2014: 10:18pm On Jun 03, 2023 |
justmondris: It's not jamb questions. It's nursery school questions. Who are these "oil cabals"? Can you pls name them? How do they get to the border and thereafter across the border? If you call subsidy a scam, then there are scammers. Are these scammers ghosts? |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Roon9(m): 11:05pm On Jun 03, 2023 |
justified007:.Jesus Christ. Monthly |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Djbme: 5:41am On Jun 04, 2023 |
Bobloco: Hello this is not a propaganda I live in the border I know what I am saying Leave politics aside there’s no way government can totally eradicate smuggling no way 1 Like |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Bobloco: 5:51am On Jun 04, 2023 |
Djbme: Why? It can be curtailed, if it's not totally eradicated The problem with us in this part of the world is that we accept abnormalities as normal When government failed to do their job, they create a scenario of helplessness and then push push the resultant consequences on the masses |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Djbme: 9:43am On Jun 04, 2023 |
Bobloco: That’s what I just said , smuggling can’t be totally eradicated especially here in Africa 1 Like |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by collins011(m): 9:55am On Jun 04, 2023 |
Bobloco: Can someone make me understand how a tanker load of fuel can possibly leave shores of Nigeria to our neighboring countries if not with connivance of security agencies, could that be possible? |
Re: Benin Republic Citizens Bemoan Fuel Subsidy Removal, Nigerians React by Perfectbeing(m): 2:42pm On Jun 04, 2023 |
obi58:Don't be emotional.. Cos oil is surplus here does that mean that Government mine it from the ground free of charge? Have you considered the cost of bringing out crude oil from the ground? |
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