Invest4growth:
We deserve to see the template used in the computation
The pump prices are not arbitrary
The president should be open on this. Subsidy must go but the President should be well guided on the pricing. There are so many self centred and greedy individuals around the corridor of power

Good points but if subsidy must go:

1. the government has been removing fuel subsidy since the 90s maybe earlier. what was the percentage the government was paying for each litre of fuel as subsidy?

2. with each partial withdrawal of subsidy, what percentage of subsidy was removed and what was left?

3. in this attempt by tinubu (I wont be surprised if they say theres another subsidy somewhere they havent removed), what was the percentage of subsidy left that he removed?

Bukola94:
for every transfer I do NGN26.88K is debited and 12Naira for alert.

That one is aside, this is what their bank managers/account officee do on daily after work at night.

I am definitely going to the bank on Monday to complain.

lexy2014:



How does all you have said answer these questions?

1. How is subsidy responsible for Nigeria's staggering debt profile?

2. Is it only subsidy that loans were used for?

3. How are loans being used to subsidise fuel for the entire ECOWAS region?

4. How will removal of subsidy stop smuggling?

5. Pls define "inefficiencies in government".

6. Who are these "border cartel" and how do they smuggle fuel?

7. Who are these "The NNPCL mafia and marketers"? Can you pls name them?

8. the government has been removing fuel subsidy since the 90s maybe earlier. what was the percentage the government was paying for each litre of fuel as subsidy?

9. with each partial withdrawal of subsidy, what percentage of subsidy was removed and what was left?

10. in this attempt by tinubu, what was the percentage of subsidy left that he removed?

You have all u want in my response. I am not a government spokesperson. I have given u a layman tangential analysis of the issue. Until illicit pipelines were discovered offshore nobody knew that some highly placed Nigerians were illegally exporting crude. What digs such a staggering hole in the national coffers you are asking me if that was the reason for loans. When money meant for other issues are channelled to subsidy, the govt borrow for whatever else.

ajakuai:




That one is aside, this is what their bank managers/account officee do on daily after work at night.

I am definitely going to the bank on Monday to complain.

maybe I will do the same on Tuesday, them go dey look person with sharp eyes. thieves in coat and tie, ripping customers little kobo,over smart dey worry them.

Yankiss:
You have all u want in my response. I am not a government spokesperson. I have given u a layman tangential analysis of the issue. Until illicit pipelines were discovered offshore nobody knew that some highly placed Nigerians were illegally exporting crude. What digs such a staggering hole in the national coffers you are asking me if that was the reason for loans. When money meant for other issues are channelled to subsidy, the govt borrow for whatever else.

I didn't ask you for any "layman tangential analysis of the issue". I asked you simple questions. So your response was completely offpoint. Pls try again.

1. How is subsidy responsible for Nigeria's staggering debt profile?

2. Is it only subsidy that loans were used for?

3. How are loans being used to subsidise fuel for the entire ECOWAS region?

4. How will removal of subsidy stop smuggling?

5. Pls define "inefficiencies in government".

6. Who are these "border cartel" and how do they smuggle fuel?

7. Who are these "The NNPCL mafia and marketers"? Can you pls name them?

8. the government has been removing fuel subsidy since the 90s maybe earlier. what was the percentage the government was paying for each litre of fuel as subsidy?

9. with each partial withdrawal of subsidy, what percentage of subsidy was removed and what was left?

10. in this attempt by tinubu, what was the percentage of subsidy left that he removed?

Segzy19:
Why can't you be positive for once.
You even said you are dying... Na wa o!

If you die now Nigeria won't miss you...
Pray this government succeeds so that we can all benefit. Leave politics, political affiliations or dislike for the current president aside for now.... He is our president as per reality and if he fails, then we will all have more troubles...

Be optimistic and patient a bit more.
Things can't get any worse than it was under Buhari. This pain is like pain of circumcision. Once it heals, na to dey do fine boy o but the short pain will first be there...
There shall be light soon..

That guy is a notorious scammer

Yankiss:
Cost of Subsidized PMS is between 190 to 225. Cost of PMS in neighbouring countries is roughly 500-600 equivalence in naira. The border cartel smuggle fuel due to the glaring disparity and make huge profits. What is smuggled is this same subsidized PMS Nigeria is paying for. So, willynilly we are paying for the subregion. When the cost equalizes, who would smuggle fuel across to earn near to zero revenue? The amount paid daily to subsidize fuel is staggering. between 60m and 100m litres of fuel subsidy is paid daily. The difference between 190 naira ( the subsidized rate) and the unsubsidized rate 500 to 600 naira per litre is multiplied by 60 to 100m to give u amount being paid daily for subsidy. This is roughly 400 naira times 100m at the extreme, knowing our country and corruption. This gives you roughly N40b daily. Get this to a year 40bx 366 = that's about N14.7t naira yearly. For eight years, we shall have paid N118.4 t. You can now see how this increases national debt and inefficiency of governments. The NNPCL mafia and marketers are not helping matters, because they hide under subsidy to trade fictitious figures of PMS supplies. You garrit now?

How does all you said answer these 4 questions?

1. How is subsidy responsible for Nigeria's staggering debt profile?

2. Is it only subsidy that loans were used for?

3. How are loans being used to subsidise fuel for the entire ECOWAS region?

4. How will removal of subsidy stop smuggling?

So fuel subsidy is the one and only thing responsible for the "inefficiencies" of government?

lexy2014:


How does all you said answer these 4 questions?

1. How is subsidy responsible for Nigeria's staggering debt profile?

2. Is it only subsidy that loans were used for?

3. How are loans being used to subsidise fuel for the entire ECOWAS region?

4. How will removal of subsidy stop smuggling?

So fuel subsidy is the one and only thing responsible for the "inefficiencies" of government?

Ask the elders. They have better answers.