nairalanda1:


So the fact that apc has been lying to you about subsides is trash?

Didn't know you were an apc supporter.

As for me apc and pdp are the same . And their policy o subsides is why we don't have cash right now for subsides.

We are not the masters of our destiny now.

BarrElChapo:


So why is he still paying subsidy at all ?

Ojuntana:


1 am a Corny man 🌽

I never cease to amaize myself with my analysis 🌽 🌽 🌽

LordBillionz:

Oga analyst, you don finish?

Oya go read your book. You Sabi nothing.

Emekayoung:

So are you benefitting from the economy now? The economy of before and now,which one is better?

ReubenE:

@bold

That your particular assertion is incorrect. The over bloated percentage of subsidy paid is as a result of naira devaluation/Forex, and not growth in consumption and subsidy payment in actuality.
After the supposed removal of subsidy and the hike in the price of PMS, consumption reduced drastically yet the landing cost has grown so why do you feel it is as a result of government paying subsidy. I really don't understand your grouse with subsidy. If subsidy is totally removed today, as long as naira is getting weaker, the landing cost will continue to grow and the attendant hike in the price of PMS.

Again, why do you assume the cost of subsidy would have grown from N2 to N920 if PDP was still in power. Are you in a way saying it was inevitable for the naira to weaken against the dollar from 180/$ to 1500/$ even if PDP was in power? Do you know if the PDP would have maintained a stable forex as against what is going on today?
For the fact that you are trying to rope in a party that left government almost 10 years ago to defend or explain the chaos that is going on today calls your sincerity into question. You are passing off as the face of Jacob and the hand of Esau.
The growth of subsidy is largely connected to the forex chaos.

Again, your last two paragraphs gave you away as someone representing a certain interest.

ValarDoharis:
You did not factor if the exchange rate had been kept at 160 by enough production.

APC is a plague, they caused this 100%

nairalanda1:


SOURCE

nairalanda1:


Yeah, but let's be honest, maintainig subsidy has brought a lot of problems for our economy.

Now, let's be honest, I think there should be some subsidy for say the poorest of the poor. But what makes subsidy impossible in Nigeria is simple....we don;t have enough money for it. Yes our politicans loot, but we spent 10 trillion naira on subsidy in 2022, and 14 trillion in 2023. I doubt that any politican has looted that amount at all.

Either we do as sane nations do and raise our tax to gdp and get the money that way, or we sell more cocoa, cotton and solid minerals to raise monies for things like fuel subsidy. Either that, or we forget about subsidy.

OKEIYIOKODU:

Keep believing them that the government don't pay subsidies in petrol at your own risk

PJ123:
.

All those cost of subsidy you quoted were overly inflated due to corruption and oil thefty.
The issues any serious government would face is to completely eradicate the corruption and oil thefty, this will give actual cost of subsidy.
If corruption, rent-seeking, institutional weakness and dollarization of Nigerian are not purposefully and transparently dealt with, Nigeria is inevitably destined to be doomed.
As a patriotic Nigerian, I just wished something drastic can happen to rescue this country In Jesus name!!!

nairalanda1:
If one has been following this thing for as long as I have, you would see that we are paying a subsidy.

1.APC apologists cry that fuel is not being subsidised...well it is. Landing cost was N720 as at October, now it is N1000..meaning subsidy costs rose from N20-140 to N300-420 per liter today. We are pushing ourselves into more debt so see where we are

2.IN 2012 january, landing cost was N99 per liter, now it is N1000. Fuel price was N97 per liter now it is N580-720.

Assuming Nigeria kept fuel at N97 per liter as some PDP apologists wanted , by now subsidy would have risen from N2 per liter to N920 per liter ...and note that fuel consumption has risen over the years.

We would have a debt that would make our current debt look like the pocket money you give your 10 year old.

See how much subsidy costs? But all of you, be it PDP or APC or LP, many of you want it.


Oya, come and get your fuel at N97....lol.


MOdified

I find it amusing some people think I support APC because of this comment. APC is still paying subsidy, meanwhile I oppose payment of subsidy....so apparently I am an aAPC supporter.

See, I don't get NIgerians. Someone is supporting something that is in opposition to the party in power, yet is a supporter of the party.

I pray God opens your eyes to see what I see, all ye who quote me, then you will understand there is a method to my madness.

ford101:
any person who doesn't feel the pain and the hardship the common Nigerian goes true since on from the APC government and claims he isn't in support of APC is far more animalistic than the APC supporters them self. Can draculer be called a Christian? No but it fights a Christian cause.

nairalanda1:


SOURCE

nairalanda1:
If one has been following this thing for as long as I have, you would see that we are paying a subsidy.

1.APC apologists cry that fuel is not being subsidised...well it is. Landing cost was N720 as at October, now it is N1000..meaning subsidy costs rose from N20-140 to N300-420 per liter today. We are pushing ourselves into more debt so see where we are

2.IN 2012 january, landing cost was N99 per liter, now it is N1000. Fuel price was N97 per liter now it is N580-720.

Assuming Nigeria kept fuel at N97 per liter as some PDP apologists wanted , by now subsidy would have risen from N2 per liter to N920 per liter ...and note that fuel consumption has risen over the years.

We would have a debt that would make our current debt look like the pocket money you give your 10 year old.

See how much subsidy costs? But all of you, be it PDP or APC or LP, many of you want it.


Oya, come and get your fuel at N97....lol.


MOdified

I find it amusing some people think I support APC because of this comment. APC is still paying subsidy, meanwhile I oppose payment of subsidy....so apparently I am an aAPC supporter.

See, I don't get NIgerians. Someone is supporting something that is in opposition to the party in power, yet is a supporter of the party.

I pray God opens your eyes to see what I see, all ye who quote me, then you will understand there is a method to my madness.

OkCornel:
APC promises…a throwback

Johnjustice:
Floating the naira without positioning our economy and international trade policies, so naira can compete favorably will make things worse. Naira can't compete with dollars as it is, leaving them for market forces means dollar rate will keep rising perpetually because our dollar demand has not reduced, and nobody is demanding Naira internationally.

oyeb15:



You don't understand what u are talking about . Can u tell me what brings dollars down. It's your internal production and economy. Tinubu messed them up by removing subsidy and dollar will keep going up. Even if u use d whole national budget to pay subsidy and your economy boom and dollar crashed, is it not better.

Omalicious1:


So are we still importing Petrol? How Dangote Refinery na

MT:


You guys are always quick to jump into standard of living in the western world, yet you are not ready to pay what they are paying.

Do you know the number of bills they pay?

How many do you pay?

How many of you pay taxes at all. Lot of Nigerians have never paid any form of tax in their lifetime?

If the Government starts to charge you for owning TV, wont you scream to high heaven.

The people groan in the western nations too. It is not the paradise you think it is.

If not that our past leaders have really destroyed this country and lack foresight, Nigeria should be competing favourably in the world.

However, Nigerians want to live in a country that looks like Dubai without doing their bits.

nairalanda1:
If one has been following this thing for as long as I have, you would see that we are paying a subsidy.

1.APC apologists cry that fuel is not being subsidised...well it is. Landing cost was N720 as at October, now it is N1000..meaning subsidy costs rose from N20-140 to N300-420 per liter today. We are pushing ourselves into more debt so see where we are

2.IN 2012 january, landing cost was N99 per liter, now it is N1000. Fuel price was N97 per liter now it is N580-720.

Assuming Nigeria kept fuel at N97 per liter as some PDP apologists wanted , by now subsidy would have risen from N2 per liter to N920 per liter ...and note that fuel consumption has risen over the years.

We would have a debt that would make our current debt look like the pocket money you give your 10 year old.

See how much subsidy costs? But all of you, be it PDP or APC or LP, many of you want it.


Oya, come and get your fuel at N97....lol.


MOdified

I find it amusing some people think I support APC because of this comment. APC is still paying subsidy, meanwhile I oppose payment of subsidy....so apparently I am an aAPC supporter.

See, I don't get NIgerians. Someone is supporting something that is in opposition to the party in power, yet is a supporter of the party.

I pray God opens your eyes to see what I see, all ye who quote me, then you will understand there is a method to my madness.

Offpoint1:

What is landing cost? If Nigeria leaders past and present wasn't useless, all the trillions wasted on subsidy isn't enough to have at least 3-6 running refineries?

nairalanda1:


When that refinery starts, government should not sell fuel at a loss, because it would wreck the refinery.

The experts state that any fuel refined in Nigeria would cost N70 less than the landing cost..so fuel better cost N930 at least, or more, certainly not below N700.

We have not diversifed our economy at all, not regulated revenue from mining, not improved agriculture....so here we are. All our leaders, TInubu inclusive are to blame. Pretending that fuel is cheap even made matters worse.

nairalanda1:


I am feeling the pain...but what I fear is the pain of running out of money because subsidy costs have eaten the revenue well well.

We have a debt that is eating, and was eating over 90% of our revenue as at May 2023, and a big part of the reason was subsidy.

That's why OBi, atiku and tinubu all said subsidy had to go and why Buhari had subsidy budget in till June 2023....because they knew we were all borrowed up, and this close to collapsing financially

If they kept subsidy, and fuel still cost N200 or less , like YOU want it, we would have had run out of money. ANd if you think our current status is bad, imagine running out of money...nothing to loot, nothing to pay salaries, nothing to pay for contracts, nothing in the kitty.

Then we would be under the thumb of IMF, who would STILL force us to remove subsides anyway.

Your comment shows you do not know how bad we are in (and we are in this state because of APC, Buhari and tinubu, before you start)....we are in a bad state. Very bad state. Either we cut subsisides (what tinubu did was partial removal) or we find ourselves so broke, IMF would be running the country. Directly this time.

For me, it is basically either die of thirst in the desert or die of freezing in the Arctic. There is a third way, and it is being taken, though without a lot of caveats.

nairalanda1:


Do I work there?