RepoMan007:
You are well known to reply to assumptions you made up in your head so can sound intelligent irrespective of reality.
If corruption can remain, let subsidy remain too. That's my position.

nairalanda1:


The way the government is going, they would force him to sell that low.

Nigerians want cheap fuel.

seborrhic:

Rather Nigerians cannot afford market reflective fuel.No Nation can afford market reflective fuel if as a middle class earner with a car,you have to use half of your salary to just fill your tank that would last you for just a week or as a minimum wage earner your salary,untouched cannot transport you through half of the month to your place of work.
The American cannot afford it,the Japanese,German,Chinese and English cannot yesterday,today and tomorrow.
The issue is that our purchasing power is not just low,but is unsurvivable on.

femisplash:

Stop being crudely conspiratorial, subsidy is unconstitutional and illegal by virtue of Petroleum Industry Act signed into law in 2022. As a crude oil producing country, we have no business paying subsidy on fuel much less importing refined fuel. Past regimes that deliberately looked away for over four decades while four refineries rot away are liable. I would have hoped that two or more private investors could have also taken the initiative than have only Dangote at the forefront.

nairalanda1:


True, but on the other hand, making fuel cheap is one of the reasons why we have a huge debt profile, and issues with raising income right now.

All those countries you mentoned also pay high taxes and have diversified economies, which is why they can to some extent afford subsides, and even then fuel can be expensive (UK even puts tax on top of the thing).

Nigeria does not even earn enough from taxes to fund a subsidy adequately. OIl money is not enough. The corruption that our leaders do is even awful, and shows insensitivty self.

Yet, no matter what we do, neither we nor any of the countries can do anything about the cost of fuel.

seborrhic:

Oga,stop looking at fuel price in isolation.
A gallon of fuel(4litres,$3.5) is about 0.25% of the average American,Westerner or Chinese income.In Nigeria it is 4% or 20 times what those people pay compared to income!
If the Nigerian is earning 1 million instead of 100k,he can afford to buy fuel at market reflective 6000-8000/galore and meet up with other basic needs

criuze:
Surviving each day in Nigeria is an absolute miracle

nairalanda1:


It has not gone, because the government is too scared to sell fuel above N1000 per liter. Too scared.

Sicklebear28:


You are a fan of Tinubu...your last statement says so

nairalanda1:
.

Meaning by ending of Feb, we would have spent close to N2 trillion on subsidy, and if oil prices remain steady, and consumption figures go up...because it is much higher than 50m liters...we would reach somewhere around 12 trillion this year.



Ghana has two refineries by the way. IN Niger,it is probably above N1000 and they got a refinery.

Smuggling is back by the by.

Elxandre:

It is not "1000" in Ghana.
That's a simplistic way to view it when the problem is simply our exchange rate.
If $1 was 500 Naira, petrol would be under 500 naira.

Our crazy exchange rate is the issue not the subsidy per say.

IbeOkehie:


Go to UK or USA and you will see real wahala.

Nigeria is blessed.

Good Luck to UK.