PlayerMeji:
The dividends of subsidy removal will soon begin to trickle in...

The only dividends is that there would be more money in the hands of govt.

It now comes down to if they will use that extra money for the masses.
That is where the benefit is supposed to come from.

But a tinubu that decided to increase lawmakers salaries, appoint criminals anf their children into govt positions, such hope is vain.

We would only end up subsidizing the pockets of the elites.

A bad tree can't give you good fruits.

You want to enjoy the benefit of subsidy removal?
Then employ a honest leader.

FacilitatorLekk:
Brilliant decision to remove subsidy after all, now it's about using the money we are saving to take care of Nigerians and build better infrastructure, power systems etc.

Exactly.

Removing it will lead to more money in the hands of govt.
Which is good.

But If those extra money end up in the pockets of akpabio, ibori, and jagaban's pocket, then Nigerians have lost.

It would have been better if the subsidy continues.

jmoore:

Ask APC government. Buhari had 8 years, pumped billions of naira to fix PH, Warri and Kaduna refinery. Yet, none is working.

You are still providing jobs for Europe after subsidy removal because Nigeria is still importing petrol.

But she saved 10 Billion USD that given purposeful leadership can be spent on the repair or building of refineries.

No denying that the effect has Ben excruciating, but it's right step in the right direction.

Okoroawusa:

Are you sure you read the article?

He did not even read the headline as well.

CSTRR:

Exactly.

Removing it will lead to more money in the hands of govt.
Which is good.

But If those extra money end up in the pockets of akpabio, ibori, and jagaban's pocket, then Nigerians have lost.

It would have been better if the subsidy continues.

I don't know about akpabio etc, but I know Tinubu will do his best...the best part is that Nigeria is giving less money to Western countries, the demand for fuel has dropped.

Hhh

JAMO84:
The whole world agree with Tinubu that subsidy has to go, only the world infamous cocaine distributing tribe are against Tinubu right now.

Ewu Gambia

jmoore:


Poor man pays transport of 200 naira during subsidy.

Poor man now pays 500 naira after subsidy removal.

You guys should stop this lies!!!

Everyone benefitted from subsidy, directly or indirectly.

The economy runs on petrol because Nigeria has a paltry 5,000 megawatts for a population of 200 million.


Apart from paying more for transportation, the poor will pay more for food because cost of transportation affects prices of foodstuffs.

Blaming smugglers for the subsidy wahala is one being myopic. If a thief keeps breaking your home to steal foodstuffs, would you stop buying foodstuffs and let your family die of hunger because of thieves? No! You will seek for ways to catch the thieves. Instead of bringing in measures to catch smugglers, Tinubu decided to punish millions of Nigerians because of the actions of few smugglers that may not be up to 3,000.

I completely agree with your argument man

I am a student, though I know very well that the subsidy removal would affect me. But the FG, have to let it go.
I live in a border community, and I can authoritatively tell you that Nigeria was subsidizing fuel for the entire west Africa.
At least the activities has reduce now.
This subsidy removal must favour me in Jesus name

emkz:
I enjoyed the part of the report that cited that once the subsidy was removed, the financial incentive for smuggling was killed.

Removal of subsidy was a brilliant move by the President. For many years, Nigeria was taking from our purse to feed criminals and foreigners. How do you collect subsidy and still take our fuel to sell it elsewhere? Let our states government step in to help our people by addressing the after-effects.

Subsidy did not help the poor it was meant for.

na wa o! This is the same Tinubu that supported every useless buhari policy..........why did APC protest same removal policy by Okonjo Iweala......Africans and primitivity!!

When JEG removed subsidy, BAT man was the first to incite violence, which he did by stating that JEG is heartless. Here we are now. May BAT not know peace. He’s worse than evil.

Hypnotized people every where.

I don't have a job, so even if govt increase salary of workers, it won't benefit me.
But me and the beneficiaries buy from the same markets, I pay bills and also do sundry things those beneficiaries do...
I don't know how this subsidy savings will benefit those like me...

Who will speak for the unemployed graduates?

ImDStar:
In Nigeria, poor people are standing on the mandate of criminals, and the criminals inflict them with more pain and poverty.
The poorer they get, the richer the criminals get.

Let The Poor Breath. Suffering and smiling poverty.

When you try deliver them, they tag you names.

Have you delivered yourself first.

Many are complaining just like Tinubu and his co-travellers were critical of Jonathan's govt untill APC took over.

If another among all the 17 contenders gets there now, all of them will start singing a different songs.

Only family members, friends and associates of these politicians enjoy during their tenure majority who support them because of tribe and religion are usually thrown under the bus.

Buhari did it to the 12million Talakas who consistently voted for him 4 times he contested before he won.

What has become of the people of Bayelsa, Katsina, and Ogun state where the last three president's came from?

Nothing to write home about

franchasofficia:
The truth is, APC as a party and Tinubu as a person does not have the capacity to lead Nigeria to prosperity as a nation. They are only recycling the same criminal politicians to reduce opposition and to solidify their hold on government to continue the looting and stealing they started since 1999. If you check the ministerial list, it's more of a list of loyalists Tinubu wants to reward for helping him steal mandate at all cost. The list has nothing to do with building a great nation. Its all about building political bridges to weaken opposition, increase political sycophancy and support base at all cost.




If Tinubu refuses to return petrol subsidy, Nigeria will experience a devastating economic recession that will affect even the super rich.


The effect of this subsidy removal will be felt in 6 months time as it will gradually render private businesses, etc unproductive.



Nigerian government must find way to subsidize petrol back if not the economy will crash. Poor Nigerian citizens cannot be the ones to bear the burden of failures of successive government of Nigeria that failed to fight whatever corruption they said was ruining the petrol subsidy regime.


The way Nigerian media and all the Presidential candidates projected petrol subsidy removal, it made it look like the major problem holding Nigeria back was petrol subsidy and that once it was removed Nigeria will turn to New York, all na wash. Even Obi was wrong and by now if he was the President and did removed the subsidy as promised, we would have pressured him to see reason why petrol subsidy must not be removed in Nigeria because that is the only thing all Nigerians benefit from Nigerian government equally without bias.


Energy plays a keyrole in every nation's progress, that was why God first created light to see clearly first before starting any other creation. Every serious nation that wants national prosperity don't joke with their energy, especially the cost of energy because it is the number one cost that affects every other thing in the economy.



It is government's responsibility to tighten our borders to avoid smuggling subsidized petrol out of Nigeria.



It is government's responsibility to ensure transparent procurement and payment of subsidy on exact petrol consumed in Nigeria.


It is government's responsibility to fix our dead refineries and stop importation of petrol.


It is government's responsibility to stop oil theft and bunkering to increase our national crude output.



Instead of facing their responsibilities as government, they push the burden to already dejected citizens that benefit nothing from government.



Increasing the minimum wage will not solve the awaiting recession that will come with this brutal petrol subsidy removal.


Paying households 50,000 naira every month won't solve it because more than 60% of the fund will be looted and only party members and few highly placed families in their communities will benefit.


Nigerian government must revert back the petrol subsidy and face their failures in tackling the issues that made the petrol subsidy programme to fail by tightening our borders and criminalizing smuggling of petrol products, revamping the process of subsidy payment to ensure we pay for exact petrol imported into Nigeria. Urgent revamping of our national refineries to start working soonest. Beefing up security on our waterways to end crude theft.



This is the only way out if not, Tinubu or any other President that insist on removing subsidy is wasting time cos Nigeria's economy crash without petrol subsidy.



Buhari partially removed subsidy on petrol in 2018 when he increased pump price from 97 naira per liter to 145 naira per liter and later to 196 naira per liter and they said the price will crash with time. Till date the price hasn't crashed and we can't account for the trillions he saved or made from partially removing subsidy then, the same thing will happen under Tinubu

You're very wise sir.
Leaders practice theoritical economics in Nigeria.
How removing subsidy in a poor country like this with terrible electricity makes sense is quite ridiculous.

PlayerMeji:
The dividends of subsidy removal will soon begin to trickle in...

Which dividends will trickle in in a corrupt politicians administration?
Subsidy is the only thing that the ordinary Nigerian enjoys in a useless government but instead of tackling the corruption in the subsidy regime and fixing refineries, they remove the common man's subsidy in order to make more money available for the criminal political class to steal.
The extra cash will end up in the pocket of governors and federal Ministers.

Thanks for taking out the time and effort to write this. You did a great job of perfectly enumerating the facts as well as both short and long term challenges. Indeed, the full effects will only start to rear its ugly head in the next few months and it might last for generations if this "stupid" policy is not reversed pronto.
Watching Nigerians kowtow to the fallacious scheme of the present leadership, with the majority vehement against all attempts to apply critical thinking to this fuel subsidy issue, which is of such national importance, is simply mind boggling.
It has greatly made me to question the intelligence quotient of my country men and women.

franchasofficia:
The truth is, APC as a party and Tinubu as a person does not have the capacity to lead Nigeria to prosperity as a nation. They are only recycling the same criminal politicians to reduce opposition and to solidify their hold on government to continue the looting and stealing they started since 1999. If you check the ministerial list, it's more of a list of loyalists Tinubu wants to reward for helping him steal mandate at all cost. The list has nothing to do with building a great nation. Its all about building political bridges to weaken opposition, increase political sycophancy and support base at all cost.




If Tinubu refuses to return petrol subsidy, Nigeria will experience a devastating economic recession that will affect even the super rich.


The effect of this subsidy removal will be felt in 6 months time as it will gradually render private businesses, etc unproductive.



Nigerian government must find way to subsidize petrol back if not the economy will crash. Poor Nigerian citizens cannot be the ones to bear the burden of failures of successive government of Nigeria that failed to fight whatever corruption they said was ruining the petrol subsidy regime.


The way Nigerian media and all the Presidential candidates projected petrol subsidy removal, it made it look like the major problem holding Nigeria back was petrol subsidy and that once it was removed Nigeria will turn to New York, all na wash. Even Obi was wrong and by now if he was the President and did removed the subsidy as promised, we would have pressured him to see reason why petrol subsidy must not be removed in Nigeria because that is the only thing all Nigerians benefit from Nigerian government equally without bias.


Energy plays a keyrole in every nation's progress, that was why God first created light to see clearly first before starting any other creation. Every serious nation that wants national prosperity don't joke with their energy, especially the cost of energy because it is the number one cost that affects every other thing in the economy.



It is government's responsibility to tighten our borders to avoid smuggling subsidized petrol out of Nigeria.



It is government's responsibility to ensure transparent procurement and payment of subsidy on exact petrol consumed in Nigeria.


It is government's responsibility to fix our dead refineries and stop importation of petrol.


It is government's responsibility to stop oil theft and bunkering to increase our national crude output.



Instead of facing their responsibilities as government, they push the burden to already dejected citizens that benefit nothing from government.



Increasing the minimum wage will not solve the awaiting recession that will come with this brutal petrol subsidy removal.


Paying households 50,000 naira every month won't solve it because more than 60% of the fund will be looted and only party members and few highly placed families in their communities will benefit.


Nigerian government must revert back the petrol subsidy and face their failures in tackling the issues that made the petrol subsidy programme to fail by tightening our borders and criminalizing smuggling of petrol products, revamping the process of subsidy payment to ensure we pay for exact petrol imported into Nigeria. Urgent revamping of our national refineries to start working soonest. Beefing up security on our waterways to end crude theft.



This is the only way out if not, Tinubu or any other President that insist on removing subsidy is wasting time cos Nigeria's economy crash without petrol subsidy.



Buhari partially removed subsidy on petrol in 2018 when he increased pump price from 97 naira per liter to 145 naira per liter and later to 196 naira per liter and they said the price will crash with time. Till date the price hasn't crashed and we can't account for the trillions he saved or made from partially removing subsidy then, the same thing will happen under Tinubu

lexy2014:


It's because you have gone back to school that am asking u....

Why did fuel subsisdy need to go?

Mele Kyari in 2020 said subsisdy had been totally and completely removed

Which subsisdy did Tinubu now remove in 2023?

Oil prices rise and fall. When oil price went down to $40-, there was no need to subsidize fuel because it was cheap.

FoolishBoy419:


Oil prices rise and fall. When oil price went down to $40-, there was no need to subsidize fuel because it was cheap.

How does that answer the questions?

1. Why did fuel subsisdy need to go?

2. Mele Kyari in 2020 said subsisdy had been totally and completely removed

3. Which subsisdy did Tinubu now remove in 2023?

PrincessDiana:
Thanks for taking out the time and effort to write this. You did a great job of perfectly enumerating the facts as well as both short and long term challenges. Indeed, the full effects will only start to rear its ugly head in the next few months and it might last for generations if this "stupid" policy is not reversed pronto.
Watching Nigerians kowtow to the fallacious scheme of the present leadership, with the majority vehement against all attempts to apply critical thinking to this fuel subsidy issue, which is of such national importance, is simply mind boggling.
It has greatly made me to question the intelligence quotient of my country men and women.

We will keep sounding the truth without fear and without minding the names they will tag us, but what I know is that at the end the truth will prevail for all to see

lexy2014:


How does that answer the questions?

1. Why did fuel subsisdy need to go?

2. Mele Kyari in 2020 said subsisdy had been totally and completely removed

3. Which subsisdy did Tinubu now remove in 2023?

I don't know the argument you two are having but yes, I'm in full support of subsidy removal.

1 Subsidy had to go because we were borrowing too much money to keep it going. Money that could have been used for capital expenditure and economy diversification was being used to fund subsidy which is unwise.

2. I don't know when he said that but IF the international price for crude oil was low as at 2020, then there would be no need to pay fuel subsidy.

3. Let me try to explain to you how fuel subsidy works. Let's say marketers spend #50,000 to buy a bag of maize abroad and intend to sell each bag at #70,000 to Nigerians. Now as the government, you want Nigerians to pay only #30,000 per bag of maize but that is not possible because it would mean the marketers would be selling to Nigerians at a loss of #20,000 and with zero profit. Now to fix this, Nigeria agrees to pay #40,000 Naira to the marketers per bag so that when you add the #30,000 that Nigerians pay, they will get their profit. You, Nigerians, and the marketers all get what they want. Now here is the thing: the price of maize rises and falls in the international market. Suppose a bag of maize falls to #20,000 per bag. Nigeria will no longer have to pay them one kobo since they can buy at #20,000 and sell to Nigerians at #30,000 thereby making profit. Now what Tinubu is saying is that he doesn't care if the price of maize reaches #1000,000,000,000,000 per bag. You should pay what the marketers charge.

You can now go and continue your debate with him. I hope you get it now.

franchasofficia:
We will keep sounding the truth without fear and without minding the names they will tag us, but what I know is that at the end the truth will prevail for all to see

What truth, the distorted facts that your mind has been misconstrued & programed to believe?

nairalanda1:
(Disclaimer: I do not work for Tinubu, APC, the government, NNPC, or petrol marketers, lol)

Well, I doubt EU refinereis would be losing money, since we are, after all still importing. And even if Dangote comes on stream tomorrow, we would still have to import. The report is some ten years early.

As for smuggling, some smuggling still goes on, but the cost differential makes it less profitable. At least the smugglers are spending their own money, not government money.

Finally,we need to get domestic refining back on stream, now that petrol is profitable.

Good thing subsidy is gone. At the end of the day, there is only so much of tomorrow's money one can spend today.

The story is actually quite funny. And to think that some people believe it is even funnier. According to recent NNPCL data, our daily consumption dropped by about 20m litres daily. So a drop in sales by just 20m litres daily is enough to "put on EU refineries"? How many of them actually? Na wah for some of your fellow Nigerians o

FoolishBoy419:


I don't know the argument you two are having but yes, I'm in full support of subsidy removal.

1 Subsidy had to go because we were borrowing too much money to keep it going. Money that could have been used for capital expenditure and economy diversification was being used to fund subsidy which is unwise.

2. I don't know when he said that but IF the international price for crude oil was low as at 2020, then there would be no need to pay fuel subsidy.

3. Let me try to explain to you how fuel subsidy works. Let's say marketers spend #50,000 to buy a bag of maize abroad and intend to sell each bag at #70,000 to Nigerians. Now as the government, you want Nigerians to pay only #30,000 per bag of maize but that is not possible because it would mean the marketers would be selling to Nigerians at a loss of #20,000 and with zero profit. Now to fix this, Nigeria agrees to pay #40,000 Naira to the marketers per bag so that when you add the #30,000 that Nigerians pay, they will get their profit. You, Nigerians, and the marketers all get what they want. Now here is the thing: the price of maize rises and falls in the international market. Suppose a bag of maize falls to #20,000 per bag. Nigeria will no longer have to pay them one kobo since they can buy at #20,000 and sell to Nigerians at #30,000 thereby making profit. Now what Tinubu is saying is that he doesn't care if the price of maize reaches #1000,000,000,000,000 per bag. You should pay what the marketers charge.

You can now go and continue your debate with him. I hope you get it now.

1. How much was nigeria borrowing to finance fuel Subsidy?

What are those "capital expenditure and economy diversification" that money for subsisdy should have been used for?

2. Mele Kyari in 2020 said subsisdy had been totally and completely removed

3. Which subsisdy did Tinubu now remove in 2023?

4. How do your answers 2 and 3 answer the questions I asked?

5. Where in my number 2 question did I ask u about price of crude oil?

6. How did u come to the conclusion that if price of crude oil was low, that there was no need to pay fuel subsisdy?

7. If that is your conclusion, how then did u arrive at your unwarranted epistle in your number 3?

tommy589:
I hope the gains of the removal is not stolen

I can bet you its already been stolen.

jmoore:

Ask APC government. Buhari had 8 years, pumped billions of naira to fix PH, Warri and Kaduna refinery. Yet, none is working.

You are still providing jobs for Europe after subsidy removal because Nigeria is still importing petrol.

Obasanjo, Yaradua and Jonathan could not even review anything about the refinery for more than 16years, but na Buhari wen don invest billions of naira na him you remember. Hatred destroys the body. You are too young to carry burden on your neck, you are not Esau.
Subsidy is gone, embrace it or continue

lexy2014:





1. How much was nigeria borrowing to finance fuel Subsidy?

What are those "capital expenditure and economy diversification" that money for subsisdy should have been used for?

2. Mele Kyari in 2020 said subsisdy had been totally and completely removed

3. Which subsisdy did Tinubu now remove in 2023?

4. How do your answers 2 and 3 answer the questions I asked?

5. Where in my number 2 question did I ask u about price of crude oil?

6. How did u come to the conclusion that if price of crude oil was low, that there was no need to pay fuel subsisdy?

7. If that is your conclusion, how then did u arrive at your unwarranted epistle in your number 3?

"K"

jmoore:


Poor man pays transport of 200 naira during subsidy.

Poor man now pays 500 naira after subsidy removal.

You guys should stop this lies!!!

Everyone benefitted from subsidy, directly or indirectly.

The economy runs on petrol because Nigeria has a paltry 5,000 megawatts for a population of 200 million.


Apart from paying more for transportation, the poor will pay more for food because cost of transportation affects prices of foodstuffs.

Blaming smugglers for the subsidy wahala is one being myopic. If a thief keeps breaking your home to steal foodstuffs, would you stop buying foodstuffs and let your family die of hunger because of thieves? No! You will seek for ways to catch the thieves. Instead of bringing in measures to catch smugglers, Tinubu decided to punish millions of Nigerians because of the actions of few smugglers that may not be up to 3,000.

and because of failure of Customs to stop smuggling of petrol..

jmoore:


Poor man pays transport of 200 naira during subsidy.

Poor man now pays 500 naira after subsidy removal.

You guys should stop this lies!!!

Everyone benefitted from subsidy, directly or indirectly.

The economy runs on petrol because Nigeria has a paltry 5,000 megawatts for a population of 200 million.


Apart from paying more for transportation, the poor will pay more for food because cost of transportation affects prices of foodstuffs.

Blaming smugglers for the subsidy wahala is one being myopic. If a thief keeps breaking your home to steal foodstuffs, would you stop buying foodstuffs and let your family die of hunger because of thieves? No! You will seek for ways to catch the thieves. Instead of bringing in measures to catch smugglers, Tinubu decided to punish millions of Nigerians because of the actions of few smugglers that may not be up to 3,000.

Your analogy flawed and poorly thought.
You forgot to mention that the thieves you’re talking about are members of your family.
So, they’ve got direct access to the foodstuffs.
Your store has no doors as well and it’s almost impossible to build a door… it’s gonna be useless anyway since your “thieving” family members have access in and out.

Also, it’s not as simple as buying foodstuffs and thieves (your family members) stealing it for personal gains.
It’s buying foodstuffs and selling it cheap (having paid some money) so your family members can afford it, but some smart asses in your family decided to take advantage by selling it out to your neighbours whose parents can’t be bothered, at an awoof price.

The easiest way to stop the sabotage by your fraudulent family members is not to “stop buying the foodstuffs and your family die of hunger” like you mentioned but to start letting family members buy it at the original price.
Your neighbours who’s been paying the real price for the foodstuffs hitherto have not died of hunger.
Having said that, the savings your parents made from stopping the sabotage is now being redistributed to offset the cost of living.

obailala:
You see that last bolded statement you made? I terribly dislike when people use that as an argument against subsidy cos it's patently flawed and devoid of logic.

Last time I checked, the greatest mass of people suffering untold hardship since the removal of subsidy are the poor. It is not the rich or middle class who can no longer afford food due to the inflation; it is not the rich or middle class who can no longer afford that korope bus ride and are now forced to treck countless miles to and from work. By all standards of measurement, the poorest in society are most badly hit by the current effects of subsidy removal.

A rich man who moves with a convoy of 10 cars may decide to now move with 3 cars, but how can you compare that to the effect on the poor man who now has to walk 10 miles daily cos he can no longer afford that rickety bus?

In summary, everyone benefits from subsidy, both the rich and the poor. In fiscal terms more money may have been spent on subsidizing the lifestyle of the rich, but measuring by the impact of subsidy on standard of living, the impact of subsidy is most felt by the poor.

Gbam. If I was a woman, I for chase you die.

NOETHNICITY:
Gbam. If I was a woman, I for chase you die.

Hahaha... Abeg ooo

emkz:
The decision by Nigeria's President Bola Ahmed Tinubu to remove the very popular but expensively scandalous fuel subsidies has reduced the demand for petrol in the West African country and also removed incentives for smugglers. Nigeria had been a popular destination for refined fuel from the EU, and with the current development, the EU refiners need to look elsewhere to break even.




https://www.reuters.com/business/energy/end-nigerian-fuel-subsidy-set-squeeze-europes-refiners-2023-07-28/

Interesting insights.