happney65:
When we told them it cannot work,they were getting angry and tearing their bras on us. Now they don return am again

As it is nonesense in 2012,so is the same in 2023. The government cannot be pushing their ineptitude to the people.

But No,very enlightened and educated people will be supporting nonesense.

Shey una don see it's all a ruse now

Nonesense and Tinubu

baralatie:
because
1.crude oil is $95 per barrel
2.Nnpcl is alleged to have sold part of it's crude for loan(reduced earnings)
3.No local producing refinery
4.exchangr rate of dollar to naira is 1:#900

Could have been kept in check but like someone said the fg has to solve economic problems to avoid this kind of things.

Now it has coughed #169 billion that would have been used for other development projects.it will now have to go and borrow(hopefully not)

happney65:
When we told them it cannot work,they were getting angry and tearing their bras on us. Now they don return am again

As it is nonesense in 2012,so is the same in 2023. The government cannot be pushing their ineptitude to the people.

But No,very enlightened and educated people will be supporting nonesense.

Shey una don see it's all a ruse now

Nonesense and Tinubu

nairalanda1:


Laffs in Chinese and IMF and world bank at the bolded.

nairalanda1:


Very true.

Modular refineries HAVE TO MAKE A PROFIT. So, unless NNPC agrees to sell crude to them at knock down price...which would be riddiculous, or they do as illegal refineries do and steal crude and refine it....fuel from there would still be expensive.

Flame333:



Subsidy came back with pain because fuel still sell for 600 and all he is doing is just paying the little difference between the devalued naira and the dollar.. Marketers said the said the price would increase to 700 and more because dollar is now over 900 but the president doesn't want that to happen because people could just start protest..

The most useless policy of this government is to float the naira which is yet to make any impact on the economy..

baralatie:

Well
If the fg can pull it off.it might not need to borrow

mrvitalis:

Lol the only solution is stabilizing the naira within 5 years the economy adjust

Like obi said in economics exchange rate is not a big problem stability of a currency is

You saw under Buhari when naira was 720 to 750 for a few years the economy stabilized a bit

TemplarLandry:
Another fake news.

YouAreNobody:
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The below quote clearly defines these retards:
“Many are destined to reason wrongly, others not to reason at all and some to persecute those who do reason" - Voltaire

nairalanda1:


Based on past preccedent...I strongly doubt.

Oil prices are increasing, and with them PMS cost of production. And as experience teaches us, and history, once subsidy comes back, e go hard remove am. Politicans priority in life is to get elected, not to leave behind good legacies...because good legacies may involve some hardship....

Buhari removed subsidy in 2015, and it worked...until oil prices rose again. Back came the subsidy, and the cost increased with each increase in oil price.

I see this as instant replay. And we have been doing this many times before 2015 self.

stanluiz:
So why did he removed the first subsidy in the first place when fuel was still at the price of 195 ?

baralatie:

Well
It is not in tinubus favour because of the volume of debts buhari literally incurred/transferred into the fg accts.
The best solution for tinubu inorder not to run into a fg accts crisis is to avoid
Subsidy and borrowing.
The first has brought about good results for him in that he is able to float his govt.
The challenge he is facing the maintenance of a sustainable dollar exchange regime.in this case he is dealing with deliberate forces that want to push the naira .whilst a downward meant more money for the fg.iit is tricky because the fg is forced to pay for imports of refined petroleum products to private individuals.whilst the nnpcl claims to be the major importer.
So the fg can solve it' problems economically

lexy2014:


I thought Tinubu is a strategist with a master plan?

Why is he making blunders left right centre?

BIZNess123:


That's the strategy

EmirofAfonjaz:
BASTARDS....after all the noise...and propaganda

nairalanda1:


By bringing back subsidy, he is essentially tilting towards borrowing.

The thing is, as long as crude oil prices rise, so also would the cost of subsidy...because government can do nuthin about the production cost of fuel.

That means money would be taken from other sectors of the budget, meaning deficit...meaning...the deficit must be filled with loans.

Subsidy should not have come back.

TemplarLandry:
Another fake news.

Eriokanmi:
Oga oo. Aren't you tired of being deceived? You guys tagged the information fake news a few weeks ago when the information first leaked out. Nigeria won't move forward if you keep defending this party's lies.

I remember in 2015, buhari said subsidy was a scam and he'd never pay it. Later, he begged Nigerians to be patient as things would soon improve so, we should allow him increase pump price as he's not paying subsidy.

Later, he increased it again and people began to react. They now said they were paying something but not subsidy per se. You should stop defending this madness cos you'd not be spared in the consequences of their lies.

When some of us condemned the sudden and utter removal of the subsidy when Tinubu came, you guys said it was the right move and now, we're suffering the consequences. Meanwhile Angola, another oil rich nation only did partial removal but before they did, they had provided palliatives like gej did years back. You know hat the dollar is saying now

grandstar:
The CBN's refusal to fight inflation is partially what brought back the subsidy

By refusing to increase interest rates to stem worrying double digit inflation, it led to the slide of the Naira.

An interest rate spike induced recession that brings down inflation down at this point is a benign trade off

The poor perceives reduced prices as a benign. A stronger Naira would also reduce the level of the subsidy

The government might eventually allow the price of petrol to rise.

It is time government fully deregulates the price.

lexy2014:


you mean the strategy is to be making blunders left right centre?

TemplarLandry:
My brother, may God help us.

Rayban25:


you forgot templarlandry

Omoawoke2