Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,157,922 members, 7,835,077 topics. Date: Tuesday, 21 May 2024 at 03:19 AM |
Nairaland Forum / Nairaland / General / Politics / World Bank Chief Cautions GEJ Over Fuel Subsidy Removal (10375 Views)
No Going Back On Subsidy Removal - FG / White Man, Policeman & Okada Rider On One Motorcycle Over Fuel Scarcity - Photo / Fashola Mocked On Twitter For Blaming GEJ Over Lekki Robbery With #fasholajoker (2) (3) (4)
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: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: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: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: 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: $tunna: 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: |
It Was Great Honour Handing Staff Of Office To Oba — Oshiomhole / What Are The Projects Commissioned By Gej? / President Buhari Presides Over FEC Meeting (Photos)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 80 |