NaijaCrusader:
Are you not seeing that the economy is crumbling and something urgently needs to be done and whatever they are doing now is not working and except we just want to defraud ourselves I don't think that returning subsidy will be costing us much as 700billion as you are envisaging. My proposal is to subsidize it to between 200 or 250 naira and this will give the government the breathing space to at least stabilize the ship and most importantly for them to go to the drawing room with qualified professionals and then come up with working policies and palliatives and other solutions to tackle the challenges of the nation. Retracting is not a crime in fact it is a sign of great leadership quality,even supreme court's and revered scientist all retract all the time if you find out that a policy is not working you revisit it

nairalanda1:


So, we are now earning as the USA does?

Plus, go and read about inplicit and explicit subsidies.

Kukutenla:

Lol. Bla bla bla. But the US is owing over a 1000% than we do
What is the merit of implicit and explicit garbage to US subsidising agriculture massively in the midst of high borrowing

RecessionistPMB:
[color=#006600][/color]The ship has sailed. Subsidy removal has a ripple effect. In fact, the effect outweighs the benefits based on the present configuration of Nigeria economy. If Tinubu is actually smart, he would have blocked all subsidy leakages and possibly go after the perpetrators of the scam. Also, revamping all local refineries should have been his top priority.

Morbeta11:
MAY THIS NEW FUEL PRICE FAVOUR ME AND MY FAMILY...

RecessionistPMB:
[color=#006600][/color]The ship has sailed. Subsidy removal has a ripple effect. In fact, the effect outweighs the benefits based on the present configuration of Nigeria economy. If Tinubu is actually smart, he would have blocked all subsidy leakages and possibly go after the perpetrators of the scam. Also, revamping all local refineries should have been his top priority.

nairalanda1:


Well, what you are suggesting has been done several times in the past. (It is why fuel is not 15 kobo as it was some 40 years ago), and at the end, it did not work, because government cannot control the cost of producing one liter of fuel

Attempts to do so is partly why we have bad refineries and why we import fuel.

Basically, we got to wait till domestic refineries are running, then government can give them implicit subsides, via tax breaks, grants, and it might do something, but it won't give us fuel at N200 or less.(unless the naira grows strong, but that's another discussion).

nairalanda1:


LOL...the honest truth here is that subsidy had to go because we were in such straits that we were borrowing to pay for it (someone even said since 2016).

Plus, oil has never favoured us since 2014.


At the end...LOANS.

We could diversify our economy (APC failed on that) or we could improve our tax to gdp ratio(Nigerians would cry out)...or loans.

Oga, if Obi removed subsidy, or Atiku, I would say the same things I say now. I have been a supporter and reader of subsidy removal since 2012. I woke the ell up then. So, all your idea that I am some timunubo supporter is barking up the wrong tree.

This is not about who we support, it is about preventing a bigger disaster from happening.

Buddha3:
APC and Tinubu's supporters will be the foundation of the next protests..

whitemand4:
....

sirray001:
yes nah. We are enjoying our brother Tinubu

NaijaCrusader:


I think I understand what you saying and especially as a Nigerian and my proposal is based on believing that this administration is serious to work. If they are serious about the welfare of the citizens then it is possible. If the subsidize to 250naira the won't be holistically spending more than a 100billion monthly and as I am emphasizing it will stabilize the economy and give then chance to come to terms with the day to day runnings of the economy and to formulate and implement their own policies. Then I disagree with you that government cannot control or regulate fuel price. They can and have been doing it for years now despite the industry being fraught by corruption and ineptitude folks at the helm.

France a few years ago under Macron had a very similar problem they increased the fuel price and the people protested a demonstration that was called the yellow jacket protest and they Macron administration went back to the drawing table and reversed the fuel price and even increased the minimum wage of the french citizens. It can be done and has been done. The thing is that atimes politicians are lazy to do the hard work of governance

NaijaCrusader:


I think I understand what you saying and especially as a Nigerian and my proposal is based on believing that this administration is serious to work. If they are serious about the welfare of the citizens then it is possible. If the subsidize to 250naira the won't be holistically spending more than a 100billion monthly and as I am emphasizing it will stabilize the economy and give then chance to come to terms with the day to day runnings of the economy and to formulate and implement their own policies. Then I disagree with you that government cannot control or regulate fuel price. They can and have been doing it for years now despite the industry being fraught by corruption and ineptitude folks at the helm.
France a few years ago under Macron had a very similar problem they increased the fuel price and the people protested a demonstration that was called the yellow jacket protest and they Macron administration went back to the drawing table and reversed the fuel price and even increased the minimum wage of the french citizens. It can be done and has been done. The thing is that atimes politicians are lazy to do the hard work of governance

whitemand4:


Thank you. Ask him how was it possible for Yaradua to reduce fuel price back then

Mrtaye:

It will not reduce the price in your imagination I guess

nairalanda1:


Sorry I could not help you.

Nteogwuija:


Okay, is Rice petrol, and do you consume rice daily?

jmoore:
Good news.

E go favour me and my family.

georgeakins:


If Innoson motors are good, why are Ibos transporters not using them?

We don't need those substandard Chinese BAIC Motors on our roads.

Believeintruth:


you guys should have conscience and fear God. How much were you paid to spew trash?

Kukutenla:

I don't need your help
Go and help yourself when you fill your fuel tank with 52k next week

It's still cheaper than UK

nairalanda1:


Well, at 1000 naira or more per liter cost equivalent in the UK, I guess you lie when you say it is cheaper over ther.

And yes, I shall buy fuel at the new price. I've adapted. You haven't.

Kajaard:


It seems you have the old APC card. Those of us with the new cards buy a litre of Petrol for 50 naira only.

Please go to your nearest APC office and get the new card.

Kukutenla:

It's not my fault if you don't understand English.


Not you shall, you MUST. Its not out of a willingness to comply but compulsion. You considered yourself lucky to escape today but you won't escape next week. You must chop the breakfast. GET READY

FreedomArmy:
Ronu miscreants will buy @250