mrvitalis:

Before tinubu subsidies were budgeted and everyone is allowed to compete for them

Today it's done in secret but nnpc and the APC government keeps denying it.

Are you just knowing this??

I told the gullible foools that subsidy was never removed. The ugly human demon on the seat just decided to start cashing out in Multiple Places

Only if the eediot masses foools knew how much this ugly human demon have raked into his coffers in less than a year. And remember he still has seven more years.

All the past thieves are even envy of him.

Poor Gullible Nigerians are the biggest and useless foools on earth.

nairalanda1:


Because if I open a refinery, and government tells me that I have to sell fuel below what it costs to produce it, and then they pay a subsidy that barely covers the resulting loss, and crucially does not let me make a profit, at the end of the day, I would be broke, and the refinery would be broke..

Unless you have the kind of financial resources like Dangote that can provide collateral for any loans you take to build a refinery, one cannot build a refinery with a subsidy in place. It is either the fuel is sold at a profit, or wahala dey.

I mean what is stopping the useless government from making a refinery functional

Johnjustice:

Nigeria is not a liability, we have cash crops, we have food crops, we have a huge market...most important of all, that is why you see IMF, and all those American envoys trooping in here, we have the market, and market is king.

When you don't put all those you have to good use, you become liability. Put your house in order first that is what I mean.
We have all those yet we are hungry. A hungry person is always a liability.

NemoDatQuod:
Those who do not learn from their own history, are poised to repeat it. That is what has been happening before our eyes these past nine months. Nigeria was a very prosperous country in the 1980's until the IMF stepped in and recommended to the "Evil Genius"(Ibrahim Babangida) the exact same recommendations they gave to Tinubu, near forty years later. When the evil genius implemented the IMF recommendations, float the Naira, let market forces determine the price of products, etc, Nigeria spiralled and never recovered. The Naira went from N0.74/$ (Yes, you needed $1.24 to get just one Naira in 1985) and kept going until it got to about N540/$ when "Bubu the senile" left office last year. That IMF inspired recommendations was where and when the rain started beating us.

Just this week, the older Ghanaian guy who cleans stuff in my apartment building told me about how beautiful and wonderful Nigeria was in the early 1980s. He said the preference of most Africans then was to come live in Nigeria rather than the UK. This week was not the first time a Ghanaian had told me the same thing. Almost a decade ago, another Ghanaian , an elderly friend, told me the exact same thing. He said he came from London to Lagos and then went to Ibadan and settled there in the early eighties. He only came back to the UK when things went awry.

Now, nearly forty years later, the IMF has come calling again and this time, just as the last time, Nigerians are in for a terribly bad ride. It is not going to end in eight years or thirty years. Something is going to give as the common man will hopefully wake up someday and say "enough is enough" regardless of "emilokan" or "mgbati mgbati" or whatever else that is out there. Hunger, starvation and continuous death do not know Emilokan. Have you not seen the pictures of terribly poor men and women being kidnapped in the North and their equally church rat poor families being asked to pay ransom of tens of millions? Families that are eating Potato leaves for breakfast, lunch and dinner, are being asked to cough up such huge sums.

Now to the meat of the matter. Why was it that it was ONLY the "evil genius" and the current pretender to the throne, who the IMF was able to successfully force to do what they themselves knew , will send Nigeria into a spiral. The IMF knows that the only way any society will successfully leave pricing mechanisms to market forces is if that society is a developed one, with long standing institutions platformed on integrity and public accountability and with an adequate electoral systems that are truly and manifestly independent, transparent and with a justice system that is actually worth its name and lawyers who are not men and women with compromised integrity and absent accountability.

They know this and they know what happened to Nigeria the last time round when they made these same recommendations. That was why subsequent Nigerian governments kept the IMF at bay until the pretender arrived. Why did the evil genius and the pretender cave in to the IMF?
One word : "Kompromat" in russian language. Babangida had no credibility because he came to the Presidency by way of a coup. He craved international credibility and recognition, unlike Sani Abacha who didn't give a F. Hence he succumbed. Of course we all know the antecedents of the current pretender to the throne. He had no choice, given the volume of evidence they currently have against him.

Who you elect into office matters. Who you allow to steal your votes or elections matter. They matter to you directly in your pocket. Not just in your pocket, but also in the heart and mind of your wife. Yes your wife, that woman you love so much. she is now being pushed to the wall and will soon start doing what she has to do to survive and put food on the table. Food that you too will share in. Same for your daughter. The pretender to the throne has determined how your daughter, whom you have been raising to be a decent woman, will turn out. Is she going to have to go into runs soon? You think about that. Who you vote for or allow to steal your votes, has far reach into your everyday life and your state of mind and happiness.

Last night, I sent someone a mere hundred pounds and the individual received N194,000 into their naira account in Nigeria. How is that possible? The same £100 that was N25,000 when I first arrived here.

This is just the beginning. Those who are not willing to stand up for what they believe in, do not actually believe in anything. That is the profile of the average Nigerian. How on earth can you allow your fellow men and women, very few in number, to reduce you to such levels and to continue to push you into the ground and all you do is keep watch?

And when your oppressors, those who have bastardised your existence die, when they die, you mourn over them and RIP them as if it was your mother who just died, instead of raining curses on them and their generations unborn. The same bankers who are some of the worst criminals in Nigeria's history.

It is going to be a long goodbye for Nigeria. Where is the person or persons who knows let alone has the capability to effect change?

"Nemo Dat quod non Habet". You cannot give what you do not have. Show me one Nigerian you know who is a person of the utmost integrity and about whom you can say "He has not ever stolen despite having been given numerous opportunity to do so". Mtchew.

I wish many can read all this, cos many Nigerians are lazy to read.

So, deep thought you put up there!
Hmm.

WE TOLD THEM THAT TINUBU KNOWS NOTHING. CLUELESS MAN WHO DESPITE ALL OPPORTUNITIES IN USA HE ENDED DEALING ON DRUGS.
IF HE WAS EVER SMART, HE WOULD HAVE BEEN IN THE ACADEMIA OR TOP FINANCIAL INSTITUTION AS AN EXPERT.

THE THIEF LOOTED LAGOS DRY FROM 1999-2007 AS GOVERNOR.

THEY USED LIES & PROPAGANDA TO DECCEIVE FOOLS THAT HE BUILT LAGOS.

I PITY NIGERIA

I PITY NIGERIA.

This what we get when a cocaine sniffing idiot without certificate and life history is seated on the helms of your national affairs.

Great2017:

For saying it the way it is

It is not the IMF that announces Nigeria’s FG Economic Policy for them

CodeTemplar:
the subsidy was already programmed to stop a month into tinubu's reign. He merely backdated it by declaring on May 29 that it is "gone for good".

To really end the subsidy, the petrol price should have been deregulated like that of diesel and kerosene.

https://www.youtube.com/watch?v=wGrvEcI-umA?si=SyWtpUWQFrZOphuO

Watch the video above. There are people profiting off of this fuel subsidy of a thing and they are not ready to let the money stop entering their pockets

Ttipsy:
I mean what is stopping the useless government from making a refinery functional

Exactly that . Subsidy.

It prevents refineries from making a profit. Once thag happens, refineries cannot pay for upgrades, maintenance, or indeer anything. Corruption too also sets in because subsidy would be paid whether production happens or not.

CodeTemplar:
Before tinubu entered, we paid 0.5 USD official rate per litre and we are paying just around that 0.5 USD right now.

The only real policy change as it stands now is floating of Naira which we virtually all agreed on.

The complains and focus on Tinubu are largely inspired by political fortune of those rigged out.

You be

MU
+
MU
=


Too much kids on nairaland

This is double standard from IMF. There's no country on the earth that is not paying subsidy. Canada pays subsidy on public transport system. In USA, subsidy is paid on petrol ( Gasoline). UK pays subsidy on energy. China does the same thing. While other countries subsidize agricultural products. The only difference bw Nigeria subsidy regime and their own is that ours is embedded with massive corruptions. IMF should encourage Tinubu government to end corruption in subsidy and not removing it. Infact, we need subsidy in agriculture, transport, energy and education.

You remove subsidy fuel price high, you secretly put am back e still high, this govt is clueless.

mrvitalis:

Obviously when diesel n keep prices increased n petrol remaind the same

This your English nawa ooo

My guy
My guy

Kinzo0917:



This your English nawa ooo

My guy
My guy

Auto correct

"When diesel and kero prices increased and petrol remained same price"

Fake IMF.

ogododo:


https://dailytrust.com/imf-confirms-return-of-petrol-subsidy-under-tinubu/#:~:text=The%20IMF%2C%20in%20its%20latest,reversing%20the%20fuel%20subsidy%20removal.%E2%80%9D

It's amazing how a bunch of people can ruin a country’s economy in less than a year. Totally beats the shit out of me.

Ogiame:
Just look at the clown defending Tinubu below me.

There's another clown right above you as well. Very anyhow supporters.

What a Dolla-rised country that is shettimatized with Mumu ticket and thrown into a Great tinibulation.

CodeTemplar:
Before tinubu entered, we paid 0.5 USD official rate per litre and we are paying just around that 0.5 USD right now.

The only real policy change as it stands now is floating of Naira which we virtually all agreed on.

The complains and focus on Tinubu are largely inspired by political fortune of those rigged out.

You're not even making sense to yourself

CodeTemplar:
the subsidy was already programmed to stop a month into tinubu's reign. He merely backdated it by declaring on May 29 that it is "gone for good".

Still not communicating

You answered a question you were never asked.

The question he asked was not "why can't we build NEW refineries".

The question was what stops us from having functional refineries.

Perhaps you are unaware we have 4 refineries already that have been systematically sabotaged over the decades.

Perhaps you can attempt to answer his question now with this new piece of Information you didn't seem to have before.

mrvitalis:

Because fuel is to cheap in Nigeria so the profit margins makes the business of building n refining crude unattractive to investors

VULCAN:
You answered a question you were never asked.

The question he asked was not "why can't we build NEW refineries".

The question was what stops us from having functional refineries.

Perhaps you are unaware we have 4 refineries already that have been systematically sabotaged over the decades.

Perhaps you can attempt to answer his question now with this new piece of Information you didn't seem to have before.

They not functional because they are ran at a lose, when you run something ay a lose maintaining its is a big problem

Just say you can't comprehend my initial statement

Subscribe to watch the video

https://www.youtube.com/@content-academy?sub_confirmation=1

ivandragon:
Bat is simply being a coward and uninterested/ has no sincere plan in developing nigeria.

Rather than face the issues that have made subsidy unsustainable, he choose the cowardly route by leaving the masses to the hyenas.

Tackle the foundational issues that make subsidy unsustainable as well as the dubious dealings in fx transactions before taking actions that further impoverish the masses.

Lol..what do you want to tackle..

You tackle dubious FX dealings by closing the gap between official and black market rate... anything else is a mirage..

The same thing goes to subsidy..

What bulaba should have done is maintain the subsidy on FX but remove the one on fuel..
That way the money they save can be investigated into something else like maybe refinery or increase oil production

Fake News from Corruption fights back

Enemies of Nigeria full ground which one concern IMF for Nigeria matter.

ogododo:


https://dailytrust.com/imf-confirms-return-of-petrol-subsidy-under-tinubu/#:~:text=The%20IMF%2C%20in%20its%20latest,reversing%20the%20fuel%20subsidy%20removal.%E2%80%9D

Total lie

/
Is this supposed to be news? As long as PMS price remains stable while price of crude oil fluctuates, anyone with an iota of intelligence knows that subsidy is at work.

/

IMF na Ipob, nothing you want to tell me

Why will they be insinuating such against our jagaban

Subsidy is gone and gone😃

CodeTemplar:
Before tinubu entered, we paid 0.5 USD official rate per litre and we are paying just around that 0.5 USD right now.

The only real policy change as it stands now is floating of Naira which we virtually all agreed on.

The complains and focus on Tinubu are largely inspired by political fortune of those rigged out.

No worry. E go reach everybody

CodeTemplar:
Before tinubu entered, we paid 0.5 USD official rate per litre and we are paying just around that 0.5 USD right now.

The only real policy change as it stands now is floating of Naira which we virtually all agreed on.

The complains and focus on Tinubu are largely inspired by political fortune of those rigged out.

If We are currently paying 0.5usd as before, are we buy petrol as the price of before. Presently the price of petrol is 700 at 0.5usd, but before may 29, we are buying petrol at 190 at 0.5usd. so who is benefitting and who is suffering. The govt is making more money while the mass are suffering by buying petrol on a higher price. So you this tinubu supporter stop deceiving urselves