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World Bank Chief Cautions GEJ Over Fuel Subsidy Removal - Politics (3) - Nairaland

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Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Nobody: 12:56am On Oct 25, 2011
^^^
Oh! Now, how many times have the pump price been raised? Come on! The poor will definitely suffer but the rich will have the pinch the most. To save the poor is not by removing the subsidy but provide programs that will  put them into works to earn better salaries. That is the problem not removing the subsidy that is going into some few criminal pockets.

Believe this that the poor even with the subsidy is feeling the pain as without the subsidy. I read paraffin has never been subsidized and that is among the products mostly use by poor people in Nigeria.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by mabelly: 1:05am On Oct 25, 2011
nigerians are benefitin from subsidy which ever ways you look at it. All4naija, y do u care so much abt d federal account, wen u know that at d eventual removal of d subsidy, d money realized wud b embzzld and will nt stranslate to anything meaningfull. If some few individuals are embezzling d fund supposed for subsidy, whose fualt is it?
Dis is one of d ways d whole nigeria will get to benefit from our useless govt.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 1:12am On Oct 25, 2011
mabelly:

jensinmi, it is as if u are really vexed with this aribisala0 guy. I think d guy needs to sit down and reason b4 typing. Comparism has never worked for nigeria and it will never work.
please if you must mention my name check your language so we do not derail the thread . no one has a monopoly on insults. a word is enough for the wise
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Nobody: 1:13am On Oct 25, 2011
@mabelly

Not only the embezzlement thing but the hoarding as well. Well, if you don't think this subsidy removal is a good thing then, it all up to the people to choose for themselves and I hope they choose rightly.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 1:25am On Oct 25, 2011
the issue is simple do we want refineries yes
can government run refineries no who is going to build refineries = private sector
why will they do this = only one reason  profit

so  why are they not doing it now the market is NOT profitable.

so what is the solution either supply refiners with subsidized crude oil which they will refine and sell at controlled prices and which will always leak across the border or sell to them at international prices and allow them an agreed margin.

the problem is assuming we continue to subsidize

should the subsidy come at source when the oil is pumped

or

after the revenue has been shared to all the states,LGS and derivation from the FG alone
important because the current subsidy of 1.3 trillion is more than a quarter of the FG's budget. it is likely that this figure will grow as our population grows so let us face the bitter truth
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by mabelly: 1:33am On Oct 25, 2011
aribisala, is dat suppose to be some kind of a warning or threat to (wat i dnt knw) and wat will u do. @All4naija, let dem look for other means to curb d corrupt act instead of further improvishing d masses. Dont say because u wat to stop musquitoes from breeding in water therefor u apply chemical dat is equally toxic to d fish living in d water. Also d multiplier effect of dis policy is nt favourable
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 1:38am On Oct 25, 2011
right now we consume 10million gallons of petrol daily =3.65 billion gallons a year.

the refining profit marin is about 23 cents a gallon= 0.84 billion dollars of profit that is not entering our economy every year plus all the secondary investment that goes with that. clearly there is a problem . i do not support the radical idea of abruptly removing the subsidy in JANUARY 2012 BUT IT MUST GO.

1/4 of government revenue on subsidy and more than half on salaries.
we are funny people
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 1:39am On Oct 25, 2011
mabelly:

aribisala, is dat suppose to be some kind of a warning or threat to (wat i dnt knw) and wat will u do. @All4naija, let dem look for other means to curb d corrupt act instead of further improvishing d masses. Dont say because u wat to stop musquitoes from breeding in water therefor u apply chemical dat is equally toxic to d fish living in d water. Also d multiplier effect of dis policy is nt favourable  
it is a warning. one way to find out. insult me again
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by mabelly: 1:50am On Oct 25, 2011
really wud love to c wat u will do. All i said is for you to sit down and reason, which am still standing on. @ all4naija, all dis was calculated b4 d removal of sudsidy from diesel. What is it benefitin us today? Nothing!
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 1:52am On Oct 25, 2011
yea i am waiting as soon as you insult me you will see so i am not sure how much you will REALLY LOVE TO SEE

show your love
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by mabelly: 1:58am On Oct 25, 2011
c keep quiet and go to bed.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 2:04am On Oct 25, 2011
feel free to comment on the thread like i said before if you must refer to me keep it civil and do not insult me that is not a complex request.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by mabelly: 2:11am On Oct 25, 2011
ookay! I hear u. Just trying to play a bit b4 going bed. All in all, am trying to retire from nigeria's issue so as to live long duo i have plan A B C shud incase anyrthing happens.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by ChuckD2(m): 5:53am On Oct 25, 2011
i'm begining to see that, above everything else, mr jonathan is just another simpleton. he hasn't been able to tackle the issues of accountability and mismanagement, he wants to do this. he should step down jare, he lacks focus. he's yet to achieve ONE thing in this administration.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by master2(m): 6:21am On Oct 25, 2011
jensinmi:


It appears some folks fail to notice that every country in the world, irrespective of their situation, attempts to confer an advantage to its populace and local businesses. EVERY COUNTRY!!.

Forget about the UK and USA and Norway that you are talking about.

Why do you think import tariffs and quotas exist?
Why do you think the U.S.A places import tariffs on Brazilian Biofuel? Simple. . because Sugar Cane is indigenous to Brazil and is  a more efficient means of producing Biofuel in comparison to the Corn produced by U.S Farmers. As a result, the U.S Government places tariffs on Brazilian Biofuel that make the landing price unfavorable.

Open your eyes and look around the world, you'll see countries protecting their local producers and populace.

Why did the U.S have quotas on Japanese made cars several years ago? Quotas that essentially forced those companies like Toyota to open factories in the U.S.


It is only delusional people that believe in a complete free market. Why are American companies offshoring to get better prices?


If Venezuela sells fuel for N10 per litre, to whose benefit is it? is it not to the people and companies there? Does it not give them an advantage. Is it wrong to give your people an advantage.

The U.S government subsidizes The American Agricultural sector to a mind blowing extent. To the point wherein America produces half the grain produced on this entire planet in one year. That is  AMERICA PRODUCES 50% OF ALL GRAIN PRODUCED ON EARTH ANNUALLY!!!  shocked shocked shocked shocked


If Kuwait, Saudi Arabia, and other countries choose to sell for lower, it is to their advantage.

So. . . Mr/Ms Aribisala0. . . .

HERE IS MY CHALLENGE TO YOU:

WILL YOU SEND YOUR CHILD TO A NIGERIAN PUBLIC SCHOOL WHEN YOU CAN AFFORD A PRIVATE SCHOOL JUST BECAUSE IT CONFERS NUMEROUS ADVANTAGES TO YOUR CHILD OVER THE AVERAGE CHILD??



If no, then why can't a country give its population an advantage. If Benin and Niger can't give their citizens, is it our problem?

That is like saying because your neighbor cannot afford to send his son to a good private school, therefore you'll tell your son to sit at home or go to the run down public school.

Equivalent to your daughter asking you for money for books and you telling her that since your neighbor doesn't give his daughter, you won't give her, despite the fact you have more than enough cash


Haba. People should think of helping others.

Since when did Nigeria and Benin become the same category. Are Benin and Niger as blessed as Nigeria.

The Bible says "To Whom much is given, much is required."


BTW. . . go look up how much Norway adds to the price of its gasoline. You'll find out that it taxes its populace dearly. Same as the UK. And that is only because the populace can afford to pay. Those prices reflect tariffs and taxes and never the cost of production.


The Median Household Income in the U.S.A is $43,625 (over N6.8 million) yet they are whining and crying each time gasoline prices reach $4/gallon (N160 per litre)

Yet you look at Nigerians and say that they should pay the same price despite the Median Household Income not even reaching N300,000. And your reason for this is that people in Niger and Benin are paying same price.   angry  angry  angry

In some places in Europe, an apple costs over $1, why not start selling food to Nigerians for that same rate.  angry angry angry

COOL DOWN JOR.
God bless u for this analysis. U are truly educated!
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by goggs(m): 7:12am On Oct 25, 2011
deregulation is inevitable. it makes sense when you look at the variables. l think nigerians are unanimous on one thing which is that the savings might not be well spent. well that's our next job; insisting on transparency.

the argument for subsidy retention doesn't make much sense to me. only in major urban centers do fuel and, most importantly, kerosene sell at pump price. in my village kerosene is N200, petrol is 120 but diesel, which is already deregulated, sells at N160 (the same price elsewhere!). my village people are NOT enjoying deregulation even though they are poorer than most city dwellers.

government subsidies go the the importers and distributors who also make a kill due to the inefficiency of the system. one easy way to fight corruption is to introduce competition and the middle men and dubious subsidy payments will go.

those asking for a revamp of our refineries should ask how much has been spend on them for TAM ? private investors will not build refineries due to the distorting subsidy regime so anybody asking for private refineries should perish the thought.

by and large government should encourage the private sector to take over fuel matters. they are best suited. efficiency, stability and predictability is assured . they are better capable of building infrastructures more quickly and efficiently while govern should focus on regulatory matters. an example. of this gross inefficiency is fertilizer subsidy that hardly get to farmers. 80% buy at above market rates due.to hoarding.

many sectors government has liberalized are performing much better. the airlines, telecoms, banking. when government regulates its easier to fight corruption (eg banking sector) than being involved .

developing a nation is never easy. nigerians must make the necessary sacrifices which are particularly hard cos we allowed the system to be this damaged in the first place. climbing out of this hell hole will never be without serious bruises. maybe when we realise how much we messed up we will begin to change else when the system gets messed up again we will have to take more bitter pills.

I support deregulation.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by 1025: 8:22am On Oct 25, 2011
if this administration is claiming to be in need of funds to fix infrastructures, WHAT ABOUT THE BILLIONS PDP MEMBERS ARE STEALING ON DAILY BASIS. a country where stealing is the order of the day, what is the guarantee that those invincible hands will not hijack these funds at the end of the day? we have a very weak govt that cannot fight looters, saboteurs and corrupt officials. it is better the let the subsidy remain as that is the only thing a common nigerian benefits from this God forsaken jungle.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Akanbiedu(m): 8:30am On Oct 25, 2011
Subsidy should be removed.

GEJ has nothing to worry about, the northerners are not exactly known for protests and tribalism will not allow the southerners to protest. coast is clear.

Good for everybody.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Kx: 9:36am On Oct 25, 2011
Breaking news:

Tanzania reduce fuel price yesterday 24th october 2011 even when they got no oil resources.
Nigeria that has oil is contemplating increasing price under d guise of subsidy.

What an irony!.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by oKyrian: 10:18am On Oct 25, 2011
mr president is a fool by allowing those thieves in white amana to be controlling him. i regret ever voting for him.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by shirleyz: 11:05am On Oct 25, 2011
A big NO to the subsidy removal, after the removal, what will happen to the money, another round of stories will start again and nobody will be able to account for how the money was spent. The subsidy has not been removed and prices are skyrocketing already, i only wonder what will happen when God Forbid, the subsidy is removed.

There is no justification for the removal abeg.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Pat98: 1:27pm On Oct 25, 2011
What happened in Libya will happen in a bit. I do not mind carrying placards and others, I am fed up with our leaders, goshh,
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by stunna2(m): 8:00pm On Oct 25, 2011
all4naija:

^^^
Do you ever get it right? This greedy men will sell the petroleum for high price offered by those neighboring countries thereby causing artificial scarcity, which you and I will complain there is not enough to meet demand at home. See it from that perspective, if you couldn't see those importing the products making huge profit to the detriment of the national income.

I WANT TO JUMP IN AT THIS POINT WITH A SINGLE QUESTION FOR YA SINCE YOU HAVE MADE IT CLEAR THAT U R THE ONLY ONE WHO UNDERSTAND, and according to u, the only issue is the money that is being made by the few individuals now who benefits from the subsidy must be taken away from them by the government removing the subsidy, right??

i have read over and over and over here people giving u argument over argument - many of them very sound n you come in and essentially repeat urself so pls help me here, will you -what has the government done with the money from petroleum it has been making over the years?? according to u, is the problem of government in Nigeria the lack of money which will be solved by the cash flow that will come from the removal of subsidy or the issue is rather; what does the government do with the money it gets from nigerian oil that benefits all nigerians NOW??

r u simply saying, yes, the money will be stolen once it gets to the government of nigeria but so what, afterall it is being taken by a few now who enjoys the subsidy, and just let the government get the cash so it can decide who steals it??

the government should become even more blind to the increase suffering of nigerians that will for sure come, as long as it does not see the few who now get the most benefit from subsidy

WOULD U KINDLY RESPOND TO THE GENTLE MAN WHO INFORMED YOU (perhaps u already knew this) THAT THE AVERAGE FAMILY INCOME IN A YEAR IN THE US IS ABOUT 6,000.000NAIRA N IN NIGERIA, ABOUT 300,000NAIRA SO OIL CAN NOT BE SOLD IN NIGERIA AT The SAME AMOUNT IT'S PRICED IN THE USA,

my apologies for the more than one question, but ur response will be highly appriciated
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by jensinmi(m): 8:40pm On Oct 25, 2011
shirleyz:

A big NO to the subsidy removal, after the removal, what will happen to the money, another round of stories will start again and nobody will be able to account for how the money was spent. The subsidy has not been removed and prices are skyrocketing already, i only wonder what will happen when God Forbid, the subsidy is removed.

There is no justification for the removal abeg.

$tunna:

I WANT TO JUMP IN AT THIS POINT WITH A SINGLE QUESTION FOR YA SINCE YOU HAVE MADE IT CLEAR THAT U R THE ONLY ONE WHO UNDERSTAND, and according to u, the only issue is the money that is being made by the few individuals now who benefits from the subsidy must be taken away from them by the government removing the subsidy, right??

i have read over and over and over here people giving u argument over argument - many of them very sound n you come in and essentially repeat urself so pls help me here, will you -what has the government done with the money from petroleum it has been making over the years?? according to u, is the problem of government in Nigeria the lack of money which will be solved by the cash flow that will come from the removal of subsidy or the issue is rather; what does the government do with the money it gets from nigerian oil that benefits all nigerians NOW??

r u simply saying, yes, the money will be stolen once it gets to the government of nigeria but so what, afterall it is being taken by a few now who enjoys the subsidy, and just let the government get the cash so it can decide who steals it??

the government should become even more blind to the increase suffering of nigerians that will for sure come, as long as it does not see the few who now get the most benefit from subsidy

WOULD U KINDLY RESPOND TO THE GENTLE MAN WHO INFORMED YOU (perhaps u already knew this) THAT THE AVERAGE FAMILY INCOME IN A YEAR IN THE US IS ABOUT 6,000.000NAIRA N IN NIGERIA, ABOUT 300,000NAIRA SO OIL CAN NOT BE SOLD IN NIGERIA AT The SAME AMOUNT IT'S PRICED IN THE USA,

my apologies for the more than one question, but your response will be highly appriciated

Please help me ask them o my people.

For the past couple of years, Nigeria's budget reflects $30 billion and above. The amount spent by the government will fall between $30billion and $40 billion. We have not seen the benefit of that in the past years and certainly not in 2011 despite Mr. Fresh Air's promises. Yet some people want to believe that the $3 to $5 billion that the liars in government claim they are going to save from removing subsidy is what they'll use to transform Nigeria into Paradise.

Government of Cretins, For Cretins, by Cretins.

Mschewww.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by Nobody: 8:50pm On Oct 25, 2011
@$tunna

A resounding YES! Those importers who are benefiting from subsidy will no longer receive that part of money and not only they will be scare of  loosing their source of huge money but it will create an environment for competition. It is the only way private investors can engage in building refineries - China was once having interest in building refineries in Nigeria not until things get sour and they aborted the plan at the last minute. Do you thing investors enter into a country without having  understanding of the economic consequences? I can remember there were lots of Asian companies interested in refinery investments not until some unforeseeable factors, which one of them is this subsidy thing, that back off.
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by aribisala0(m): 9:00pm On Oct 25, 2011
a loaf of bread
a toyota camry
a bag of rice
a chicken
a turkey
a flat screen TV
a MACK truck
a sack of potatoes
a brand new Bra

are all cheaper in America than Nigeria
i am not sure what the  average earnings in america has to do with anything,
average earnings in ikoyi are not the same as mushin but they pay the same for gari and  palm oil
the issue is affordabilty and sustainability.

whether you believe them is another matter but govt claims they spend about 8 billion USD on subsidy  meaning they are NOT proposing to remove it all at once.

for those doing the US comparison look at what percentage of our budget 8 billion is about 1/4

the figure continues to grow each year
and goverment is unable to ensure that petrol actually sells at the subsidized price in most places
as long as that subsidy is in place no one will build another refinery in nigeria

as such the subsidy has to go

the real issue is
when

and

how quickly

for me the argument is not about we are going to use the money to do xyz it is

we CANNOT afford it
people really need to observe what is going on around the world. nigeria is not far from needing another IMF loan why is the naira so weak even though the dollar has lost about 15% value and oil prices fairly high. we are accelerating toward broke and no one is telling nigerians the truth
Re: World Bank Chief Cautions GEJ Over Fuel Subsidy Removal by stunna2(m): 10:10pm On Oct 25, 2011
aribisala0:

a loaf of bread
a toyota camry
a bag of rice
a chicken
a turkey
a flat screen TV
a MACK truck
a sack of potatoes
a brand new Bra
are all cheaper in America than Nigeria
in your opinion why do u suppose this the case


i am not sure what the  average earnings in america has to do with anything,
average earnings in ikoyi are not the same as mushin but they pay the same for gari and  palm oil
the issue is affordabilty and sustainability.

IF NIGERIAN CAN AFFORD THE CORRUPTION IT SURE THEN CAN AFFORD THE SUBSIDY!!

whether you believe them is another matter (NO I DONT, THEY SAID THE HOUSES FOR SENATORS BUILT IN ABUJA WAS TO SAVE THE COUNTRY MONEY, NOW WHAT HAPPENS TO THOSE HOUSES) but govt claims they spend about 8 billion USD on subsidy  meaning they are NOT proposing to remove it all at once. (WHAT WILL THEY DO WITH THE MONEY, WHAT HAVE THEY DONE WITH THE MONEY SO FAR, 50% OF AMERICAN FAMILIES GET FOOD STAMPS FROM THEIR GOVERNMENT,

for those doing the US comparison look at what percentage of our budget 8 billion is about 1/4

the figure continues to grow each year (THAT MEAN ALL OF GOVERNMENT IN NIGERIAN TAKE 3/4 OF THE REVENUE FROM OIL AND NOW THE 1/4 THE REST OF NIGERIAN TAKE IN THE FORM OF SUBSIDY, THEY WANT IT TOO?)
and goverment is unable to ensure that petrol actually sells at the subsidized price in most places
as long as that subsidy is in place no one will build another refinery in nigeria (IS THE FACT THAT THE GOVERNMENT IS NOT ABLE TO ENSURE THAT IT'S SET PRICE IS NOT RESPECTED NOT ANOTHER SIGN THAT IT CAN NOT BE TRUSTED WITH ANYTHING NEVER MIND MORE CASH)

as such the subsidy has to go (COME UP WITH REAL ECONOMIC ARGUMENTS WHY IT MUST GO AND HOW THIS WILL BENEFIT MY MOTHER IN THE VILLAGE THAT I CURENTLY PAY EVERYTHING FROM HER X-RAY OR FOOD AT THE HOSPITAL FOR AND THE MEDS THE DOCTOR PRESCRIBE TO THE FOOD SHE EAT B4 TAKING THOSE MEDS, NO GOOD ROADS TO TRAVEL ON TO GO HOME AFTER DOCS VISIT N NO ELECTRICITY WAITING WHEN SHE GETS HOME AFTER HUGE NEPA BILLS )

the real issue is
when

and

how quickly

for me the argument is not about we are going to use the money to do xyz it is (WHY DO YOU NOT CARE WHAT HAPPENS TO THE MONEY??)

we CANNOT afford it (HOW R WE ABLE TO AFFORD THE CURRUPTION OR DO YOU NOT KNOW THAT CORRUPTION COST MORE - WAY MORE)

people really need to observe what is going on around the world. nigeria is not far from needing another IMF loan (IS GETTING IMF LOAN WORSE THAN TOTAL DISINTEGRATION FROM INTERNAL STRIFE)why is the naira so weak[b] (HMMM, , 'a loaf of bread
a toyota camry
a bag of rice
a chicken
a turkey
a flat screen TV
a MACK truck
a sack of potatoes
a brand new Bra
are all cheaper in America than Nigeria') MAYBE because WE DO NOT MASS PRODUCE ANY OF THESE THINGS U MENTIONED ABOVE)[/b] (even though the dollar has lost about 15% value and oil prices fairly high. we are  accelerating toward broke and no one is telling nigerians the truth (WHAT IS TRUTH; WHOSE TRUTH??)

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