oluseyiforjesus:
In a sane country this man will produce dat his friend n both of them will be charged to court, but in Nigeria na yahoo yahoo boys dey dey charge to court if he no settle them.......

Babatunjo:
I am typing this with tears in my eyes.
Nigeria is gone.
I supported Tinubu but the analysis I am hearing recently is very sad.

Subsidy was started to put money in the hands of the big men of those days, subsidy is also being removed now to put more money in the hands of the rich and big men of Nigeria of today.
Thanking you though. You too, you are One of the gullible. Don't deny that.

Such a sad situation for my nation and the masses who are so gullible.

Watch closely and you will see clearly the game called Nigeria.


It's sad.

nairalanda1:
The way the subsidy scam works, first there is price controls, then there is payment for the resulting lossess...the subsidy.

The thing is, it is in the payment that opportunity for looting and corruption arises.

At the end, subsidies cost a lot of money because the government has to spend a lot of money paying for potential losses. Based on the fear of the losses being too high, a lot of money has to be paid.

That;s where the looting comes in...

Also, the fact is, when one brings in price controls, you in essence foul up the profit motive. People go into business for the sole purpose of making money...not just for their pockets, but to run their business. Subsidy took that away, made the refineries crash because of prices being kept too low, and then forced us to import, which in turn provided lots of opportunites to make money.

All because we all wanted cheap fuel.

The problem is, there is no such thing as cheap fuel.

Countries that used to do price controls all had one thing in common...massive scarcity, and large black markets.

caye:



So;
Botswana

, Ghana

Egypt,

Libya,

Russia,

Syria

Saudi Arabia, Kuwait etc

--------------------------
So, these countries with cheap fuel ( compared with their average standard of living) ; are not living on planet earth?
How are they doing it?

So, you mean to Tell me that it is normal for a OIL PRODUCING COUNTRY TO SPEND BILLIONS OF DOLLARS ON REPAIR OF REFINERIES, AND THESE SAME REFINERIES NEVER WORK, AND SALARIES ARE BEING PAID?

----------------------------------------
You ppl are evil.
I hope you are in Europe or America. If so, may your evil Karma catch up with you:

pesticide -filled foods
LGBTQ lordship
White pride race soldiers mass killings
Nuclear war

As you reduced your motherland to a slave plantation, may Mother Earth visit you in her fury

nairalanda1:


Yes we can so long as the refineries make a profit doing so

Which subsidy was not allowing

Key word,selling at a loss

Matrixoba:
In the economics of fuel in this country, Nigeria never sold at a loss when the refineries were producing. Have you even heard of the "Abacha miracle"?

Subsidy was a leeway to steal the national wealth. We don't have accurate statistics of fuel consumed in this country, so how do we know the subsidy to be paid? It's simply a sham. It was never there in the first place.

Again, we will continue to pay highly for the product since we continue to import.
I will leave this conversation for the next 8 years. Then we can continue the analogy

nairalanda1:


The same Abacha under whom refineries were depreciating?

Plus keeping fuel at N11 fro years had a long term effect.




If it was never there, then why are you complaining about its removal?

If there was no subsidy, we would have been paying over N100 for fuel since 2011.

If not higher self.

Plus the looting from subsidy happens because it is at the end free money, and also when you fix prices of products, you foul up the profit motive ....and people would end up using underhand means to earn money.




Fuel costs money to refine and transport. It's not meant to be cheap man. Or how do you expect the refineries to make enough profit to fix things and pay workers?

Ghana, Niger have refineries and no subsidy. And no corruption. And their refineries work.

Only countries that can have subsidy sucessfully and have working refineries are countries like Libya who have populations below 10 million and produce more fuel than Nigeria. Or countries like Iran whose subsidies eat twice their oil revenue...and can live with high debt without complaining as a result.