For the first time everKp Kperogi has spoken the truth, Petrol S<bsidy is a mu#t otherwise wait for the impending Cataclicism to engulf Nigeria any moment from now, PETROL SUBSIDY IS A MUST FOR NOW

Tinubu put the cart before the horse because he was playing to the gallery. Thats what you get when your mandate is not real. I trust the court to remove him soonest.

The right thing to do is to ensure that some refineries are working first before subsidy removal. Second, floating the naira devalues it which makes petrol importation expensive.
This is a double jeopardy for citizens and they'd revolt soonest.

LegendHero:


I’ll rather the government use the subsidy savings to increase minimum wage, lift people out of poverty by providing meaningful grant and low interest loans for small businesses, secure the nation which will inturn drive agricultural food production, invest massively in Agriculture and create an environment where the poor farmer can preserve his farm produce with proper storage facilities across the country.

Nigeria is a crazy country. No matter the strategy you put in to curb subsidy, they will always outgame the system. Almost all president tried to block the loophole but it’s just impossible because corruption only thrive when people can game the system.

Take Dollar arbitrage for example. People lie about importing/schooling and etc, get $$ at official rate and just sell at black market rate. They are making billions by doing nothing. The banks themselves are the culprit, common man will not get $$ easily at official rate and only powerful people do.

That suffering and hunger can be worked on by the government. That’s what Tinubu should find ways to curb with the savings they get from subsidy and other sources.

Image123:


Do you imagine that removing it earlier would make pump prices unchanged? Won't you wail at every change? Are you not aware that it's no longer affordable?

But it was never a secret that prices would rise. The reason for those who wail, including you undoubtedly, is that it appeared like a surprise o the day of inauguration. People seemed not to be prepared.

Cantonese:


But it was never a secret that prices would rise. The reason for those who wail, including you undoubtedly, is that it appeared like a surprise o the day of inauguration. People seemed not to be prepared.

You can never be prepared for removal of subsidy.

tremilatre:
I had this conversation with a friend and I can't say it any louder, subsidy removal is the biggest shortchanged the Nigerian masses have endured. And to think we took it lying down is really baffling.
What then is our benefit as Nigerians being an oil producing state? The arguement that it benefits cabals or neighbouring countries is really dumb cos I wonder why we can't plug these holes.
In UK, we have several subsidies: Energy subsidy through the winter, council tax holidays, help to buy scheme for mortgage, furlough scheme among others, same with other western nations, yet we allow IMF to dictate how we run our economy. The thing really vex me cos all my folks in naija are really having it rough

Bros you have said it all. Its all scam and scam. Because as an oil producing nation what is the govt now using our collective resources to do?..Looting.. The Nigeria govt with subsidy removal has now removed all responsibilities from it self. Even countries without natural resources that run their economy on tax still subsidises ie school, health, housing, energy, water etc.

For those saying removing subsidy is right, just know and remember that the funds generated from subsidy removal is still going to be looted. Its nothing new. Highest they will do is start sharing indomie and cups of garri from house to house as palliative.

Sangoamadioha1:




His argument in no way buttresses your point.
You are saying the timing is wrong but he is saying, which i agree with, that subsidy is necessary and govt should go against the corruption in subsidy administration and not subsidy itself.

Jonathan tried and failed, Buhari tried and failed, even the brutal obj tried and failed, what makes you think Peter Obi, Atiku or Tinubu would succeed in fighting the corruption in subsidy when we are the same set of people smuggling those products to neighbouring countries in gallons while the elites smuggle in tankers.
The auditors of nnpc have been changed multiple times yet we still hear of fraudulent pipelines receiving allocation monthly.
These spending has eaten us deep down that we have to borrow to stay afloat.
Now subsidy has been removed, we can't expect immediate improvements when we haven't stabilise ourselves.
Last time I checked, the Nigeria Labour force is about 800k at federal level.
If you divide the 400billion we use monthly by these force, each can receive extra 500k monthly as salary. But then you don't expect immediate impact as we've been long at deficit which has devalued our currency way beyond our reach.
I suggest we give the govt atleast a year to start seeing improvements in wages and infrastructure.

Sangoamadioha1:




His argument in no way buttresses your point.
You are saying the timing is wrong but he is saying, which i agree with, that subsidy is necessary and govt should go against the corruption in subsidy administration and not subsidy itself.

How can subsidise be necessary for Nigeria? Nigeria was borrowing $15 billion per annum to finance consumption of oil subsides at the expense of investing in rail, roads, power stations and primary education.


https://www.youtube.com/watch?v=4aOiq_Ow-58&t=810s

They said the rich who ride suv will suffer .
Most suv you see are funded by their commonly and the cost of fueling it goes into the cost of production in that company

jumper524:
Jonathan tried and failed, Buhari tried and failed, even the brutal obj tried and failed, what makes you think Peter Obi, Atiku or Tinubu would succeed in fighting the corruption in subsidy when we are the same set of people smuggling those products to neighbouring countries in gallons while the elites smuggle in tankers.
The auditors of nnpc have been changed multiple times yet we still hear of fraudulent pipelines receiving allocation monthly.
These spending has eaten us deep down that we have to borrow to stay afloat.
Now subsidy has been removed, we can't expect immediate improvements when we haven't stabilise ourselves.
Last time I checked, the Nigeria Labour force is about 800k at federal level.
If you divide the 400billion we use monthly by these force, each can receive extra 500k monthly as salary. But then you don't expect immediate impact as we've been long at deficit which has devalued our currency way beyond our reach.
I suggest we give the govt atleast a year to start seeing improvements in wages and infrastructure.

All these sound good on paper but the reality is entirely different.
If you can't curb corruption on the administration of subsidy then tell me how the savings from removal of subsidy will not also be stolen.
The developed countries have child welfare, unemployment welfare and also energy is being partially subsidized but they tell us to cut our subsidy.
Tell me what we benefit from the government apart from being taxed to death.

Sangoamadioha1:




All these sound good on paper but the reality is entirely different.
If you can't curb corruption on the administration of subsidy then tell me how the savings from removal of subsidy will not also be stolen.
The developed countries have child welfare, unemployment welfare and also energy is being partially subsidized but they tell us to cut our subsidy.
Tell me what we benefit from the government apart from being taxed to death.

the old order is dead, there's high possibility of corrupting the new order but its easier to train a child than to correct an adult.

jumper524:
the old order is dead, there's high possibility of corrupting the new order but its easier to train a child than to correct an adult.

The 'old order' and the 'new order' are all Nigerians. It is not as if you are bringing different people to run the show. The same old politians and the the same civil service are going to manage the new order so what changes

Racoon:
The euphoria behind fuel subsidy removal is dawning on general outlook of life in Nigeria today. This is a necessary evil we could have avoided many years ago, but the demons in the present government made it look as if it was not an existent policy, hence demonised the then govt. Today, they want to look like saints? No way!

I m only after good governance. If Tinubu gives it to Nigerians, fine. If he doesn't, we ll survive. What have Nigerians benefited under PDP?
Farooq Kperogi ll just open his mouth waaaa like running tap.
Who has done it better btw PDP and APC?
Let Tinubu breeeef!
Hopefully he ll do well. Stop trying to win the heart of people cos you aren't better, infact worst!

Racoon:
Bottom line; ".....The poor are actually now being “sacrificed” while the political elites use proceeds from the removal of subsidies to fund their luxuries.

But you will never hear opponents of subsidies (who, by the way, benefited from subsidies right from their primary school up to their universities but who now want to break the ladder they used to climb to their current positions) talk about the corrupt, unearned privileges of the rich and the powerful...."

There are no proceeds because the government borrows funds to pay for subsidy which get looted because these marketers sell to other countries yet account it for the government. For example, if only 5 million Nigerian heads use fuel per monthly, the marketers would account for more than 20mil Nigerian heads while the government borrow money to pay the marketers who sell to other countries. Not to mention the cabals siphoning their own part. It's Nigeria who gets affected by it.

Let the greedy numerous Oil block owners take responsibility for the subsidy, not the government shouldering the responsibility alone while borrowing money to pay these criminal inclined marketers. As a matter of fact, these oil block owners are in league with these marketers and quite know these marketers. The marketers can't even cheat them.

• if Tinubu can get the refineries working by privatising them.

• Improve electricity power supply by Siemens or even uranium power.

• improve the economy of the nation, economic policies and models.

• Diversification of Nigeria economy.

• More infrastructures..

• Implementation of federalism system and models

• Tightening the loopholes on corruption!


He would have done well.

What is his own solutions should nigeria continue to borrow money to subsidize fuel for the rest of west africa? One of the easiest things to do is to sit down in the comfort of ur home and write what you feel like writing.

tremilatre:
I had this conversation with a friend and I can't say it any louder, subsidy removal is the biggest shortchanged the Nigerian masses have endured. And to think we took it lying down is really baffling.
What then is our benefit as Nigerians being an oil producing state? The arguement that it benefits cabals or neighbouring countries is really dumb cos I wonder why we can't plug these holes.
In UK, we have several subsidies: Energy subsidy through the winter, council tax holidays, help to buy scheme for mortgage, furlough scheme among others, same with other western nations, yet we allow IMF to dictate how we run our economy. The thing really vex me cos all my folks in naija are really having it rough

see eh am seriously supprised and shocked that no one is protesting at this subsidy removal. Like seriously? Fuel from 180 to 600, people are dying on the streets, the proverty level has tripped and everyone is acting like nothing is happening. The same leaders we ve paid outrageous salaries and benefits for years and in turn telling us there were loopholes in the jobs were hired them to fixed! Why are they now being paid?

SweetDipBenny:
🤔

Unfortunately, most Nigerians will not listen and reason until it is too late. Is removal of subsidy the only way forward? No, but my country people like joining the bandwagon, even if it will lead to their death.

.

grandstar:
It is a bare faced lie that transport costs have tripled. In some cases in Lagos, it remained the same. Where there were increases, it ranged from 33% to 100% if it was mass public transport like mini-buses to huge buses like the Lag buses.

This man has the Peter Obi trait of inaccurate data.

Yes, the subsidy removal has been painful, but truth the truth be said, it was necessary.

It was no longer affordable in the first place. This year, government was expected to use 73.5% of government revenue to service debt. Money for fuel subsidy would be borrowed, swelling the debt and the servicing cost further. For Buhari, a known leftist, welfarist and populist to sign the Petroleum Industry Act into law which formally endorsed the subsidy removal speaks volumes. He was also a well known subsidy denialist.

The savings already gained are substantial. It was estimated the amount saved from the fuel subsidy in a month was 400bn. With the Naira now floated, the savings would be more. This money saved now will be split 50/50 between the federal and state governments (we all know that the governors control the local governments allocations).

However, the greatest benefit from the subsidy removal would be that it will lead to a refinery construction boom. Investors were pushed away from constructing refineries because of the subsidies. No bank would lend you $2b to build a 100,000bpd refinery when the end product is subsidized making it unprofitable and unpredictable.

Dangote and Bua were able to borrow funds because they had collateral from their extremely profitable cement businesses to use as collateral.

A refinery boom would create lots of job. It is estimated that Dangote alone would create about 50,000 jobs. The beauty of these jobs will be that they would be high paying jobs with full benefits. They would need at least 8,000 engineers. What of the multiplier effects? This also would be huge.

His is a 650,000bpd refinery. With a plan by 2030 for the nation to have 2mbpd refining capacity by Tinubu, this would create 2-300,000 jobs.

you used Lagos as you benchmark. In Abuja and around, of a truth it has tripled. No exaggerations.

Opanka44:
Subsidy removal is anti-people especially the poor masses. Deal with those stealing our crude oil and not removing the subsidy. We are suffering. People are dying of Hunger. The hardship is intense. Pls help my children

Exactly they made people believe subsidy is a crime… while it’s those stealing subsidy that are criminals

Sangoamadioha1:




His argument in no way buttresses your point.
You are saying the timing is wrong but he is saying, which i agree with, that subsidy is necessary and govt should go against the corruption in subsidy administration and not subsidy itself.

Exactly!

The reality facing Petroleum product marketers are as bleak and largely indifferent as the challenges faced by the citizens...a situation where depot price of PMS fluctuates between N470 _ N500 per litre coupled with the myriad of extortions by trade union bodies, Nigerian military and paramilitary agencies at the various depots, state governments levies et al...that's not factoring operating cost at their various filling station outlets, we're talking about powering their facilities with diesel generators almost at 18 hours daily due unreliability of the public power system, making sure their safety apparata are upto regulatory standards, cost of routine facilities maintenance, workers salaries etc.

Operating conditions ain't easy for these marketers too, that's of course not denying the fact some thrive on fraudulent practices like tinkering with their metering to make some extra bucks for themselves even at that motorists are at liberty to choose stations they want to buy their fuel.

Hopefully when Dangote's refinery and the Port Harcourt refineries start producing...the landing cost component is removed from the overall cost..perhaps we will then be contending with production and trucking cost.

One of Nigeria biggest problem is her security agencies...for some reasons it is always downplayed or successive governments lack the will to face it Headon... every major economic sabotage the Nigerians security agencies are actively involved...smuggling of Petroleum products across the border exacerbated because the smugglers are in synch with the border guards that's the customs and immigration...oil bunkering got to all time high simply because the Army, Navy and the civil defence are in cohort providing logistics, shielding the activities of the saboteurs and in small cases the military are the major culprits....it even goes beyond the economic spheres there are reports of the Nigerian military formations asking for their share of ransom before parents and guidance can rescue their loved ones from terrorists and bandits.

A serious governments cannot feign naivety on these disturbing issues...Time will tell where this current administration will be placed in the performance scale.

If you don't like Peter Obi he should just say so. He only succeeded in making hifalutin (using big grammar) statements that are more or less meaningless to paint Obi black.

How did he deodorize wickedness in high places?

Big grammar, point off-mark.

Hahahahaa.

Here's a person is hoping that the fox who has been made the caretaker of the hens will not eat them.

Chaii.

If you ask this person what in Tinubu's past gives you the basis to believe that he will use the savings from subsidy payments judiciously, he will tell you he just "knows".

Stockholm Syndrome is so deep in the typical Nigerian.

Many Nigerians will be dying over the next 2 yrs and beyond due to the hardship that is coming

LegendHero:


I’ll rather the government use the subsidy savings to increase minimum wage, lift people out of poverty by providing meaningful grant and low interest loans for small businesses, secure the nation which will inturn drive agricultural food production, invest massively in Agriculture and create an environment where the poor farmer can preserve his farm produce with proper storage facilities across the country.

Nigeria is a crazy country. No matter the strategy you put in to curb subsidy, they will always outgame the system. Almost all president tried to block the loophole but it’s just impossible because corruption only thrive when people can game the system.

Take Dollar arbitrage for example. People lie about importing/schooling and etc, get $$ at official rate and just sell at black market rate. They are making billions by doing nothing. The banks themselves are the culprit, common man will not get $$ easily at official rate and only powerful people do.

That suffering and hunger can be worked on by the government. That’s what Tinubu should find ways to curb with the savings they get from subsidy and other sources.

Tinubu's 'removal of subsidy' is supporting a deeply corrupt narrative: That the so-called subsidy had been about #300 which is most likely FALSE.

WHO knows whether if it was Peter Obi who wanted to remove any subsidy the prices would be #320 or even less?

BAT is deeply elitist and cares not for the majority. Isn't this the obvious reason he lost Lagos state in the Election? Lagosian know him!

grandstar:
It is a bare faced lie that transport costs have tripled. In some cases in Lagos, it remained the same. Where there were increases, it ranged from 33% to 100% if it was mass public transport like mini-buses to huge buses like the Lag buses.

This man has the Peter Obi trait of inaccurate data.

Yes, the subsidy removal has been painful, but truth the truth be said, it was necessary.

It was no longer affordable in the first place. This year, government was expected to use 73.5% of government revenue to service debt. Money for fuel subsidy would be borrowed, swelling the debt and the servicing cost further. For Buhari, a known leftist, welfarist and populist to sign the Petroleum Industry Act into law which formally endorsed the subsidy removal speaks volumes. He was also a well known subsidy denialist.

The savings already gained are substantial. It was estimated the amount saved from the fuel subsidy in a month was 400bn. With the Naira now floated, the savings would be more. This money saved now will be split 50/50 between the federal and state governments (we all know that the governors control the local governments allocations).

However, the greatest benefit from the subsidy removal would be that it will lead to a refinery construction boom. Investors were pushed away from constructing refineries because of the subsidies. No bank would lend you $2b to build a 100,000bpd refinery when the end product is subsidized making it unprofitable and unpredictable.

Dangote and Bua were able to borrow funds because they had collateral from their extremely profitable cement businesses to use as collateral.

A refinery boom would create lots of job. It is estimated that Dangote alone would create about 50,000 jobs. The beauty of these jobs will be that they would be high paying jobs with full benefits. They would need at least 8,000 engineers. What of the multiplier effects? This also would be huge.

His is a 650,000bpd refinery. With a plan by 2030 for the nation to have 2mbpd refining capacity by Tinubu, this would create 2-300,000 jobs.

Are you for Real??

The same nonsense APC-Buhari said about building a refinery a year is the same rubbish you are mouthing about Tinubu!!! 2mbpd Refineries 😀😀😀😀😀

Boyooosa:
Dear Kperogi, by now, you should know that your serial epistles bore us but we endure and try to read you out, now, this is another chance to read from you and you refused to conjoin valid points to deliver the heading you gave to your piece.

Well, for your information, subsidy regime is gone! and will be gone forever!

Our task is endure for a period and the task of the government is to be sincere with Nigerians....Kperogi, this particular piece of yours o wo na

If you were not dishonest, you would have admitted that this is the 8th time subsidy is being removed.

I'm sure you a beneficiary of the largess that came with the removal of subsidy

Profwriter:



If you were not dishonest, you would have admitted that this is the 8th time subsidy is being removed.

I'm sure you a beneficiary of the largess that came with the removal of subsidy

And you were gaining from the evil subsidy before it was removed right?

asahnwaKC:

Exactly they made people believe subsidy is a crime… while it’s those stealing subsidy that are criminals

Honestly, the way Nigerian Political Leaders think and come up with some sensitive economic policies leaves a lot to be desired. They think with the Anuses