What is the sense in removing fuel subsidies when you only redirect money from the subsidy cabal to be deposited into the pocket of the political cabal.

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

What we see today is a similar expenditure just before the subsidy removal.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

no money for subsidy for the masses but there is money to fund lavish livestyles of elected officials.

Nigeria is not broke to pay subsidies we only have wasteful leaders.

The essence was to "continue where Buhari stopped". The suffering was going to the next level and now in a Pro max

Creamcrest:
no money for subsidy for the masses but there is money to fund lavish livestyles of elected officials.

Nigeria is not broke to pay subsidies we only have wasteful leaders.

The painful part is its consequence on the forex as our governors use the excess money to buy up the dollar thereby increasing the value of the dollar against the naira

psucc:
The essence was to "continue where Buhari stopped". The suffering was going to the next level and now in a Pro max

If you don't have meaningful contribution abeg shift.

Ttalk:


If you don't have meaningful contribution abeg shift.

are you done voting APC ? U never see anything, you have no right to complain

odduduwa:
are you done voting APC ? U never see anything, you have no right to complain

Keep shut, your Pandora and Dubai Atiku all promised to remove fuel subsidy

Allocation may have increased 40% but the purchasing power of the allocation has all-in-all reduced. N50 billion now has less purchasing power than N30 billion of 1yr ago.

You're looking at numbers but not what it represents. In 2014, your N8k can buy a bag of rice but now your N40k cannot buy a bag of rice. Can you say someone being paid N40k now has more money than someone earning N8k in 2014? Yes, but can you ask same person, since he is earning 5 times more, why is he not buying a bag of rice.....the answer is simple. He can't, because the money has less value than N8k of 2014!

The governors can't do more with Tinubulation worthless money

Ttalk:
What is the sense in removing fuel subsidies when you only redirect money from the subsidy cabal to be deposited into the pocket of the political cabal.

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

What we see today is a similar expenditure just before the subsidy removal.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

If thats your consolation, why are you complaining?

Ttalk:


Keep shut, your Pandora and Dubai Atiku all promised to remove fuel subsidy

Ttalk:
What is the sense in removing fuel subsidies when you only redirect money from the subsidy cabal to be deposited into the pocket of the political cabal.

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

What we see today is a similar expenditure just before the subsidy removal.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

Nigerians should know that no leader is going to the political office to serve but to loot the collective reasources for himself, family and friends.

Ttalk:


Keep shut, your Pandora and Dubai Atiku all promised to remove fuel subsidy

You are too quick to mention what other politicians said, you should have allowed them to win and let's see how their own subsidy remover will look like nah. Your agbado master has become so clueless with his own style abeg.

Ttalk:


Keep shut, your Pandora and Dubai Atiku all promised to remove fuel subsidy

Ur mothers are planning G to beat up Tinubu and u are here foaming in ur mouth, idiotic ronuite

ValarDoharis:
Allocation may have increased 40% but the purchasing power of the allocation has all-in-all reduced. N50 billion now has less purchasing power than N30 billion of 1yr ago.

You're looking at numbers but not what it represents. In 2014, your N8k can buy a bag of rice but now your N40k cannot buy a bag of rice. Can you say someone being paid N40k now has more money than someone earning N8k in 2014? Yes, but can you ask same person, since he is earning 5 times more, why is he not buying a bag of rice.....the answer is simple. He can't, because the money has less value than N8k of 2014!

The governors can't do more with Tinubulation worthless money

That is the essence of the OP's question. The beautiful nonsense called 'subsidy removal'.

You remove subsidies, sparking galloping inflation, then start throwing money around in the name of palliative and worthless humanitarian interventions. You purport that subsidy removal avails government of more funds to provide public services, yet the "more funds" actually have less value than the "less funds" available prior to the subsidy removal. Not to mention the inevitable 'more funds equals to more looting' dynamic that ensues.

Our educated illiterates who claim to be economists would quote rubbish and tell you why subsidy had to go but they're all retarded. Every single one of them.

Ttalk:
What is the sense in removing fuel subsidies when you only redirect money from the subsidy cabal to be deposited into the pocket of the political cabal.

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

What we see today is a similar expenditure just before the subsidy removal.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

Op don't be a zombie.
I can see what you're doing.
Seems you did not sleep well which is why you woke up to look for someone to blame for sleeping hungry yesterday night.
You follow shout emilokan, now you're being deprived of a meal o' corn 🌽 😉

First of all, by now, I expect anyone with a functioning brain in Nigeria to realise that there's nothing like subsidy cabal. That word was just created by political hacks to demonise subsidy and make it look like it is the reason Nigerians are suffering. Mind you, after the coinage of subsidy cabal, we've had humongous looting of our stock exchange yet no stock cabal, looting of the CBN yet no central bank cabal and lately looting of ministry of humanitarian yet no humanitarian cabal. Stop being a zombie by regurgitating stale propaganda words.

Secondly, like someone pointed out to you, the value of the money being bandied as gains of subsidy removal in terms of increase in FAAC allocations is actually gains of devaluing the naira. The subsidy removal gain has not reflected in our remittances. In fact, as at now, it seems there's less money because while the naira has weakened further by 100% since August last year, the allocation has not increased by same figure but instead remained the same. This means the states are effectively getting less than they were during Buhari's time.

So instead of blaming governors for a meal o' corn, you should ask what your god is doing with the dollar denominated returns which the states don't have access to.

And also stop telling lies. Where did you see governors mopping up dollars with their allocation? Any evidence for this or it's just your normal gibberish in defence of a meal o' corn 🌽

Subsidy that government is it paying. The whole process of fuel importation is dollarized but we are buying fuel at the same price despite the increase in the exchange rate. Lol

Ttalk:
What is the sense in removing fuel subsidies when you only redirect money from the subsidy cabal to be deposited into the pocket of the political cabal.

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

What we see today is a similar expenditure just before the subsidy removal.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

So you think there is no more subsidy and you buy petrol 650 nd diesel 1200 ?

Nigerians are not smart at all sha

The Op supported balablu so I guess the chicken has come home to roost

hedonido:


That is the essence of the OP's question. The beautiful nonsense called 'subsidy removal'.

You remove subsidies, sparking galloping inflation, then start throwing money around in the name of palliative and worthless humanitarian interventions. You purport that subsidy removal avails government of more funds to provide public services, yet the "more funds" actually have less value than the "less funds" available prior to the subsidy removal. Not to mention the inevitable 'more funds equals to more looting' dynamic that ensues.

Our educated illiterates who claim to be economists would quote rubbish and tell you why subsidy had to go but they're all retarded. Every single one of them.

Ttalk:

Today, allocation to state governments has increased by 40% yet there's no 40% increase in deliverables to the people of the states.

Tell me, which of the states in Nigeria has increased its infrastructure by 40% including salary to its workers

Is this a joke or what?
You devalue the Naira close to 100% and then claim increased allocations.
What increase?
The only aspect such will have effect is in salary payment since that is stagnant.

You wonder why there's an increase in the demand for the dollar and you need to look the way of our governors who after collecting monthly allocation deduct state salary and use the remaining balance to mop up dollars in circulation.

Keep speculating on issues you don't understand.

What balance are you talking about when all the states have debt to pay?
Can you give example of a state that has a positive balance budget?

Governors have nothing to do with dollars.
Those "mopping up" the dollars are businesses and importers.

ValarDoharis:
Allocation may have increased 40% but the purchasing power of the allocation has all-in-all reduced. N50 billion now has less purchasing power than N30 billion of 1yr ago.

You're looking at numbers but not what it represents. In 2014, your N8k can buy a bag of rice but now your N40k cannot buy a bag of rice. Can you say someone being paid N40k now has more money than someone earning N8k in 2014? Yes, but can you ask same person, since he is earning 5 times more, why is he not buying a bag of rice.....the answer is simple. He can't, because the money has less value than N8k of 2014!

The governors can't do more with Tinubulation worthless money

The op is implying that the govs are a factor in this present situation and not collective victims. If they werent mopping up dollars from the excess allocation they recieve, perhaps, there would have been more dollars to push up the naira. This is essentially true. Whether you believe it or not, govs have more money to play with now, without a corresponding increase in financial scrutiny systems and despite inflation. That they have little or nothing to show for this enormous increase isnt in doubt. The govs have always clamoured for subsidy removal, but they have been very crafty in deflecting criticisms from themselves to the centre and make the president the fall guy all the time. This means that they get away with various levels of financial recklessness. Despite the increase in allocations why havent they been able to jerk up minimum wage in their respective states and why are they even reluctant to settle arreas in salaries and pensions? Sometimes, you'd wish we went back to that full fledged unitary system like we had under the military. The govs are killing this country.

My question is ,since the subsidy was removed where is the money going to? Because security became worst,economy zero, infrastructure nothing, unemployment on the rise. What is Tinubu doing exactly? Anyways,maybe its the punishment for Nigerians not voting for him..

So its left for Nigerians to stand up ,and let him know that Nigeria doesn't belong to him and his benefactors only.

malali:
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.
Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

God bless you sir for this write up ,those olodo economist will tell us there is no government business in business, they will ignore success stories like above,they do copy and paste from western countries even with the dire consequences of their follies they have continued over the years and things are likely to remain the same,as evident by the numbers of their followers regurgitating and defending their unproductive policies even here on naira land

Again, the increase in allocation is technically not real rather a decrease.

You said the president is made the fall guy, why is the president quiet then? Why can't he speak to the Nigerian people to hold their governors accountable?

You guys wanna insulate the President's ineptitude and transfer it to the governors? Before you do that, restructure to true federalism

Svoboda:


The op is implying that the govs are a factor in this present situation and not collective victims. If they werent mopping up dollars from the excess allocation they recieve, perhaps, there would have been more dollars to push up the naira. This is essentially true. Whether you believe it or not, govs have more money to play with now, without a corresponding increase in financial scrutiny systems and despite inflation. That they have little or nothing to show for this enormous increase isnt in doubt. The govs have always clamoured for subsidy removal, but they have been very crafty in deflecting criticisms from themselves to the centre and make the president the fall guy all the time. This means that they get away with various levels of financial recklessness. Despite the increase in allocations why havent they been able to jerk up minimum wage in their respective states and why are they even reluctant to settle arreas in salaries and pensions? Sometimes, you'd wish we went back to that full fledged unitary system like we had under the military. The govs are killing this country.

Ttalk:


Keep shut, your Pandora and Dubai Atiku all promised to remove fuel subsidy

Dumb line......very dumb line.

ValarDoharis:
Again, the increase in allocation is technically not real rather a decrease.

You said the president is made the fall guy, why is the president quiet then? Why can't he speak to the Nigerian people to hold their governors accountable?

You guys wanna insulate the President's ineptitude and transfer it to the governors? Before you do that, restructure to true federalism

The president has to educate a large mass of educated nigerians to hold their govs accountable, like he is a gns 101 lecturer or what when We all claim we know better than we actually do. The govs have put a blindfold on our eyes that restructuring to a full federalist system might even make things worse when you consider that they'd have more control and unfettered access to state resources without ramifications.

Well I hope president Tinubu is getting all this negative feedback. He has been mislead. I wonder how he can find his way back

Yes, restructure to true federalism first then we can hold governors accountable for insecurity and state economies.

You cannot assume they'd abuse it without doing the proper thing esp as this is what is obtainable in the US that we borrowed our system of government from

Svoboda:


The president has to educate a large mass of educated nigerians to hold their govs accountable, like he is a gns 101 lecturer or what when We all claim we know better than we actually do. The govs have put a blindfold on our eyes that restructuring to a full federalist system might even make things worse when you consider that they'd have more control and unfettered access to state resources without ramifications.

Kukutenla:

Op don't be a zombie.
I can see what you're doing.
Seems you did not sleep well which is why you woke up to look for someone to blame for sleeping hungry yesterday night.
You follow shout emilokan, now you're being deprived of a meal o' corn 🌽 😉

First of all, by now, I expect anyone with a functioning brain in Nigeria to realise that there's nothing like subsidy cabal. That word was just created by political hacks to demonise subsidy and make it look like it is the reason Nigerians are suffering. Mind you, after the coinage of subsidy cabal, we've had humongous looting of our stock exchange yet no stock cabal, looting of the CBN yet no central bank cabal and lately looting of ministry of humanitarian yet no humanitarian cabal. Stop being a zombie by regurgitating stale propaganda words.

Secondly, like someone pointed out to you, the value of the money being bandied as gains of subsidy removal in terms of increase in FAAC allocations is actually gains of devaluing the naira. The subsidy removal gain has not reflected in our remittances. In fact, as at now, it seems there's less money because while the naira has weakened further by 100% since August last year, the allocation has not increased by same figure but instead remained the same. This means the states are effectively getting less than they were during Buhari's time.

So instead of blaming governors for a meal o' corn, you should ask what your god is doing with the dollar denominated returns which the states don't have access to.

And also stop telling lies. Where did you see governors mopping up dollars with their allocation? Any evidence for this or it's just your normal gibberish in defense of a meal o' corn 🌽

You are one of the empty brains roaming Nairaland day and night but I won't blame you because a product of miracle centers is not capable of rational thinking other than to abuse and make irrelevant comments

The astronomical inflation is the consequence of subsidy removal, how come the government didn't factor the weak in currency that action would cause?

UptownVibes:
My question is ,since the subsidy was removed where is the money going to? Because security became worst,economy zero, infrastructure nothing, unemployment on the rise. What is Tinubu doing exactly? Anyways,maybe its the punishment for Nigerians not voting for him..

So its left for Nigerians to stand up ,and let him know that Nigeria doesn't belong to him and his benefactors only.

Thank you sir, where is the high allocation going to the states? Some States have not been able to pay the previous minimum wage but you see their people out of tribal sentiment can't question their governors but would heap all blame on the president as if Nigeria is not a federation

skj1377:
Well I hope president Tinubu is getting all this negative feedback. He has been mislead. I wonder how he can find his way back

What I think the president needs to do is to strengthen EFCC and reform the judiciary for speedy court judgment.

An allocation monitoring team to trace state allocation should be set up and any indicted governor file should be pushed to the court. While doing that government should sponsor an executive bill to remove immunity for all government elected officials

MEEVEET:

So you think there is no more subsidy and you buy petrol 650 nd diesel 1200 ?

Nigerians are not smart at all sha

will a smart people vote a party like APC back to back despite the failure of the party
despite the tell tale signs that the part is not capable of delivering anything because they lack men and materials to do so ,except in the department of lies and propaganda where they are excellent, unfortunately that doesn't help a nation,hence the country is where it is today

Ttalk:


You are one of the empty brains roaming Nairaland day and night but I won't blame you because a product of miracle centers is not capable of rational thinking other than to abuse and make irrelevant comments

The astronomical inflation is the consequence of subsidy removal, how come the government didn't factor the weak in currency that action would cause?

Thank you sir, where is the high allocation going to the states? Some States have not been able to pay the previous minimum wage but you see their people out of tribal sentiment can't question their governors but would heap all blame on the president as if Nigeria is not a federation

What I think the president needs to do is to strengthen EFCC and reform the judiciary for speedy court judgment.

An allocation monitoring team to trace state allocation should be set up and any indicted governor file should be pushed to the court. While doing that government should sponsor an executive bill to remove immunity for all government elected officials

You should ask your Emille o'Corn that daft question. You all have said subsidy removal and floating naira is good for the economy. Why then are you turning round to apportion blame to those who have nothing to do with the policies?

Is it mental cornfusion or corntusion?


Stop fishing for idiots Mr man. We all know on whose table this falls flatly

Ttalk:


If you don't have meaningful contribution abeg shift.

ok. Bring on your own let's see how meaningful it is.

What has the subsidy removal brought if not suffering Pro-Max? Just mention one, let's hear you.

Just Solve the corruption and productivity issues