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President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi - Politics (2) - Nairaland

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The Dangers Of Tinubu’s Wealth Without Enterprise By Reno Omokri / The Dangers Of Tinubu’s Wealth Without Enterprise - Reno Omokri / FG To Pay Nigerians Transport Allowance After Fuel Subsidy Removal- Zainab Ahmed (2) (3) (4)

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Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by austinvsb: 11:00am On Jun 03, 2023
Mr kperogi, one would expect an intelligent comparative writeup from a PHd holder. This is far from that! You can't campaign for subsidy retention in nigeria using the US as an advocate without considering the costs to both nations. Its deceitful!

USA's budget expenditure in 2022 was $6.2 Trillion (with a T) while Nigeria's was ~$32 Billion BUT somehow you expect that Nigeria is able to afford the same $10B to subsidy payment like the US.

This writeup is drunken!

2 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Showpatos: 11:01am On Jun 03, 2023
Wat he wrote up there is the actual fact
RacistProudIgbo:
This man no dey tire to write crazy things all the time.
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by SmartyPants(m): 11:02am On Jun 03, 2023
richidinho:


Stop supporting rubbish

Government all over the world are subsidizing basic needs of the people

China provides world record subsidy on cotton for its people

USA subsidize oil, Agriculture, housing, automobiles and health care

What are our govt subsidizing for its people, nothing

The only product you are subsidizing is what you want to remove because you simply have no idea on how to tackle the corruption that has engulf the policy?

If you cant, abeg step down..we have people that can sanitize the system and bring normalcy

You are comparing Nigeria with China and the US when we regularly rely on loans from those countries to sustain basic government operations? You need to understand this: Nigeria is broke! We don't have money! No kobo to even pay civil servants even at the highest level! We're in trouble!

2 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Jollos(m): 11:03am On Jun 03, 2023
Many people are mad in this country.

How can u be supporting this kind of wickedness. The only thing poor man enjoy from the government is been taken away without adequate immediate solution.

My neighbor drove to filling station yesterday to buy a thousand naira fuel inside her car, and noticed the fuel light was still on. It was her daughter inside the car with her that reminded her she only bought 2ltrs before she start complaining.

How can we survive this. Many biz run on gen.

I guess those supporting this either don't have a car or children living with their parents or those their parents have stored ill-gotten money for them

2 Likes 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Showpatos: 11:04am On Jun 03, 2023
Crime committed by who?.......the masses abi
Wake up bro
Sunshine34:
Kperogi with imaginary solutions. It is when you get there first hand that u will know writing is different from fact. SUBSIDY IS A CRIME. Kperogi thinks he's wise. Chioor

4 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Iamzik: 11:05am On Jun 03, 2023
nairalanda1:
It is like Kperoggi does not get why subsidy is evil.

The problem with subsides is that here in Nigeria, we don't do what the US does and subsidise production. Instead we spend time subsidising things at the sale point.

So, we sell fuel below what it costs to refine it, and what it costs to transport it. The result...distortions that lead to things like smugging, stealing, looting and corruption.

But here is why subsidy is insidious.....the difference between the production cost and the subsidised cost keeps rising. That adds to the subsidy cost. Then the increase in number of consumers, that also adds on.

Then how are we paying for the subsidy.? We pay for it from oil income...which in Nigeria has never been enough because the price is never high enough (that is why GEJ took loans even when oil prices were high...for those of you who love to crap on that). And oil prices have been low since 2014. Very low. So, we have to borrow to make up the difference...and a large chunk of the money goes to subsidy.

And the more the cost of the subsidy rises...the greater the amount we spend from the budget...till we reach a point where we spend all our revenue on subsidy, borrow to add to money spent on subsidy, and then cover the deficit with more borrowing.

And the more we do that, the worse it gets.

Look, I am aware the poor will suffer when subsidy goes. God knows I know this and hate it, so for anyone quoting me to abuse and call me naimes, or ask silly questions, or call me government supporter....I know.

But if we keep the subsidy, we would have reached a point where there would have been no money for things like salaries, projects, etc. And if we were making fuel at home, we would start saving cost by skimping on refinery repair and maintenance....and that's how we lost our 4 refineries...and became net importers, and ended up being at the mercy of cabals....because we wanted cheap fuel.


Anyone advoxcating for subsidy wants us to be as broke as Sri Lanka and Lebanon. So broke that the IMF is literally running things there.


If you want the poor to be helped...remove subsidy. And yes, people would suffer, but when we get better refineries, improved production and more revenue, we would wake up.


And yes, APC has failed. But the fact that we have a devious APC government in charge should not be an excuse to keep subsidy.

Subsidy is not evil. All advanced countries have one form of subsidy or the other. Let the government cut the waste and fish out those frustrating the policy. The level of poverty and insecurity left by buhari cannot cope with 500/ltr of fuel in Nigeria.

By next week everybody will start feeling the full impact. Food, transport and cost of basic services will Tripple.

6 Likes 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Showpatos: 11:06am On Jun 03, 2023
We rely on loan from them because our leader keep stealing the money meant for economy development.....why Shud the masses pay for the crimes
SmartyPants:


You are comparing Nigeria with China and the US when we regularly rely on loans from those countries to sustain basic government operations? You need to understand this: Nigeria is broke! We don't have money! No kobo to even pay civil servants even at the highest level! We're in trouble!

2 Likes 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Coronavirus1: 11:06am On Jun 03, 2023
This price hike will tumble Nigeria in few days how can American buy cheaper fuel than Nigeria who has abundant of fuel.

2 Likes 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by mu2sa2: 11:07am On Jun 03, 2023
Let's do it:
Like for subsidy removal;
Share for no to subsidy removal.
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by writeprof(m): 11:09am On Jun 03, 2023
The message is factual so I decide to forget the messenger.
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by slowice(m): 11:11am On Jun 03, 2023
That's the simple truth. Apc government have succedded in demonizing subsidy as if it's something bad.... Meanwhile, it is practiced in various forms in most countries.


Our politicians hate it because it reduces whats available to steal.

They still get to enjoy all largesse from the government but don't think we deserve some form of assistance from the government.
They should focus more on dealong with the corruption around subsidy, get our refineries working and build new ones rather than focus on taking Food from Nigerians

1 Like 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by nairalanda1(m): 11:12am On Jun 03, 2023
Iamzik:


Subsidy is not evil. All advanced countries have one form of subsidy or the other. Let the government cut the waste and fish out those frustrating the policy. The level of poverty and insecurity left by buhari cannot cope with 500/ltr of fuel in Nigeria.

By next week everybody will start feeling the full impact. Food, transport and cost of basic services will Tripple.

The problem with subsidy is that we are paying for it from oil revenue.

Nigeria needs oil, right now, as at 2021 at $103 dollars a barrel. Oil prices have not been that high for most of the time (except some time last year) since 2014.

That means in order to supplement our income, we have to borrow money. (Yes, because the diversification that APC promised us turned out to be a dud. It never happened...plus the alternative of taxation does not work because most Nigerians are too poor to pay the kind of tax we need).

Meanwhile fuel consumption numbers....minus the smuggling and stealing....as well as the difference between the production cost and the subsidzed price are going up.

That means at the end, we are spending more and more of our income on subsidy.

Putting it into perspective, in 2022, we spent 10bn dollars on subsidy. As at today, we have spent 7.5bn dollars on subsidy. And a large part of that money is BORROWED.

If we were to keep subsidy......

In the developed world, they pay for subsides by high taxes, and they subsidise production,(which we can do when all our refineries are up and running as they will be in the next two years )....things we cannot or are not willing to do in Nigeria.
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by SmartyPants(m): 11:13am On Jun 03, 2023
Showpatos:
We rely on loan from them because our leader keep stealing the money meant for economy development.....why Shud the masses pay for the crimes

It doesn't matter who stole what - the practical reality is simply, we don't have money again. Even if you say the masses shoudl not suffer for it, how can they be spared? What measures do you suggest?
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by barbstee(m): 11:14am On Jun 03, 2023
richidinho:


Stop supporting rubbish

Government all over the world are subsidizing basic needs of the people

China provides world record subsidy on cotton for its people

USA subsidize oil, Agriculture, housing, automobiles and health care

What are our govt subsidizing for its people, nothing

The only product you are subsidizing is what you want to remove because you simply have no idea on how to tackle the corruption that has engulf the policy?

If you cant, abeg step down..we have people that can sanitize the system and bring normalcy

People like Peter Obi
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Honsla: 11:15am On Jun 03, 2023
casualobserver:
Nigeria spends $10b a yr on petrol subsidy, America spends $10b a year on petrol subsidy, are we mates? What kind of a fool is this man? Is America borrowing the $10b for subsidy?
How much are Nigerian lawmakers earning a year?

4 Likes 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by austinvsb: 11:20am On Jun 03, 2023
MFORC:
Very intelligent analysis

It's actually the opposite. It's an emotion-laden nonsense by someone I would guess is a beneficiary of those corrupt subsidy dollars
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by richidinho(m): 11:21am On Jun 03, 2023
SmartyPants:


You are comparing Nigeria with China and the US when we regularly rely on loans from those countries to sustain basic government operations? You need to understand this: Nigeria is broke! We don't have money! No kobo to even pay civil servants even at the highest level! We're in trouble!

We are broke because our leaders has refused to free up resources by sacrificing their on pay and whatever corruption they have delve into

Do you knw how much these countries borrow and how much they are owing, research

1 Like

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Honsla: 11:21am On Jun 03, 2023
Coronavirus1:
This price hike will tumble Nigeria in few days how can American buy cheaper fuel than Nigeria who has abundant of fuel.
Even in Saudi too.
Price of pms is 2.330 riyal ( $0.62 ) in Saudi Arabia
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by bigdammyj: 11:25am On Jun 03, 2023
Read.
Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Dougad: 11:27am On Jun 03, 2023
datola:
Hmm... Mr Kperogi.

Nigeria cannot survive further subsidy payment. America is 1,000 richer than Nigeria and can afford to subsidize

The issue of fixing refineries does not even profer any solution because it will still be sold at market price. And can those refineries ever work again after sinking billions every year in year out.

If I were them FG I would sell off the refineries at any amount offered than be spending so much on it for decades without any positive results.


I don't know why you people keep spewing this shit.

Countries like Russia and Saudi Arabia that extract and refine their oil sell PMS at $0.67 (N286). Why then will Nigeria with an even cheaper cost of labour sell at over $1 if it's being locally?

Una dey think things through at all?

2 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Minjim: 11:30am On Jun 03, 2023
pandoragirigory:
Tinubu is trying to accelerate good governance, but Nigeria of tribalism and religious sentiments is not ripe for it, he should put some modalities in place to cushion the undesirable effects of high fuel purchase after subsidy

Which should happen first?
Putting modalities in place as you stated, then removing subsidy

Or

Removing subsidy , then talk about putting modalities in place. Cos that's all we hear now. And we know palliative never get to the right people in Nigeria


Tinubu is just another corrupt leader trying cover the tracks of his friends

1 Like 1 Share

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by symbianDON(m): 11:30am On Jun 03, 2023
datola:
Hmm...
Nigeria cannot survive further subsidy payments...

....simply because the subsidy payments are corruption ridden and not because the subsidy in itself is bad! Let the government take care of the corruption in the system! They won't because it affects their cronies.

4 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by dontiky: 11:30am On Jun 03, 2023
datola:
Hmm... Mr Kperogi.

Nigeria cannot survive further subsidy payment. America is 1,000 richer than Nigeria and can afford to subsidize

The issue of fixing refineries does not even profer any solution because it will still be sold at market price. And can those refineries ever work again after sinking billions every year in year out.

If I were them FG I would sell off the refineries at any amount offered than be spending so much on it for decades without any positive results.

we all know subsidy removal is good but not for a country with majority of its citizens poor. You see the full effect of this within a month. Those who survive doing petty business will not be able to survive by the time price of commodities increase. Countries that succeed with this have stable electricity and good road and
rail system for transportation of goods and people. Everything in Nigeria totally depends on fuel. I bet you millions of Nigerians cannot cope in this present condition buhari left us in

2 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Minjim: 11:35am On Jun 03, 2023
datola:
Hmm... Mr Kperogi.

Nigeria cannot survive further subsidy payment. America is 1,000 richer than Nigeria and can afford to subsidize

The issue of fixing refineries does not even profer any solution because it will still be sold at market price. And can those refineries ever work again after sinking billions every year in year out.

If I were them FG I would sell off the refineries at any amount offered than be spending so much on it for decades without any positive results.


Why not? Is it the masses fault politicians are corrupt?

What palliative does the Fg give Nigerians?
All we hear are figures. I have never received or known anyone that has received. I don't even know anyone that knows anyone that has received before.
This subsidy is the only palliative that everyone gets.

FF should clean up their acts and stop making the poor pay for their inefficiency and lack of creativity

1 Like

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by yemmit90: 11:36am On Jun 03, 2023
Iamzik:


Subsidy is not evil. All advanced countries have one form of subsidy or the other. Let the government cut the waste and fish out those frustrating the policy. The level of poverty and insecurity left by buhari cannot cope with 500/ltr of fuel in Nigeria.

By next week everybody will start feeling the full impact. Food, transport and cost of basic services will Tripple.

Though I don't support total removal of fuel subsidy at this stage but mere looking at the current situation, the negative effects won't be that significant

The reason is, alot trucks conveying goods and industrial machines are using diesel, which government has removed the subsidy since last year. Also, I believe the price of petrol too will come down soon, just like the way price of diesel falls from almost 1000/per litres to 630/per litres today.

It is quite unfortunate that Nigeria is full of wicked people, the same trucks owners and manufacturers who are using diesel will still take advantage of the situation and increase their price.

1 Like

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by SmartyPants(m): 11:36am On Jun 03, 2023
richidinho:


We are broke because our leaders has refused to free up resources by sacrificing their on pay and whatever corruption they have delve into

Do you knw how much these countries borrow and how much they are owing, research

You don't understand what you're talking about. I don't mean that in an insulting way. The US has massive debt - domiciled in its own currency. It has absolutely no problem raising more money to finance Government spending. You can't compare that with Nigeria who has international creditors who will soon refuse to give more money.

Besides if you're following current affairs you should know that concerns are mounting in th eUS over its own growing debt and the risk of defaulting, which is a separate issue.

Again, this is not about why we are broke. It is simply about the fact that we are broke as a matter of fact. A broke nation, regardless of why it is broke, cannot do much.

2 Likes

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by Minjim: 11:38am On Jun 03, 2023
dontiky:
we all know subsidy removal is good but not for a country with majority of its citizens poor. You see the full effect of this within a month. Those who survive doing petty business will not be able to survive by the time price of commodities increase. Countries that succeed with this have stable electricity and good road and
rail system for transportation of goods and people. Everything in Nigeria totally depends on fuel. I bet you millions of Nigerians cannot cope in this present condition buhari left us in

This sudden increase is too huge.
Soon it'll start affect prices of commodities

1 Like

Re: President Tinubu And The Dangers Of Fuel Subsidy Removal - Kperogi by casualobserver: 11:39am On Jun 03, 2023
Honsla:

How much are Nigerian lawmakers earning a year?

A Nigerian senator earns $2000 a month, a us senator earns $15,0000 a month. They all get expenses and allowances.

But that is not the point, a government jet that costs $50m is $50m where it is in America, Ghana or Nigeria. A president will get a salary whether his population is 2m or 200m. The difference between the salary of a president of a country with 2m will not be that different from the salary of a president of a country of 300m.

But there are certain things that are proportional to the size of the population, the economy and other metrics of a country. If your GDP is $500m and you spend $10b on petrol subsidy, then 2% of your economy is fuel subsidy. If your GDP is 23 trillion, $10b is only 0.04%. We are spending 50 times the proportion of our GDP on subsidy compared to America. Also Nigeria has only 11m cars, America has 262m cars. So per car the subsidy in America is 24 times less. Further more govt revenue in Nigeria Is $40b, in America it is $2.6 TRILLION. A country making 2.6 trillion in taxes and revenue spending $10b on 262 million cars is not the same as another making $40b in revenues spending a quarter of his total revenue on just 11m cars. Like I said we are not mates.

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