Johnjustice:

We are not sufficient because we depend on imports, which PMS and diesel are part of, this is the part that your small enslaved brain can't understand.

Had a reply for you, but since you are still being abusive by calling me enslaved brain, when I haven';t even abused you, I don't think we can continue

Things cost money. Sadly

GreatrAnalyst:
The actual imperial, colonial ones
Ruling by proxy.

They won't suggest any policy that doesn't help they themselves.

How on earth does removing the fuel subsidy help the IMF? Do you even understand how imperialism really works?

SmartyPants:


How on earth does removing the fuel subsidy help the IMF? Do you even understand how imperialism really works?

Removing fuel subsidy EVEN REDUCES OUR DEPENDENCE ON FUEL IMPORTS...which kind of is not benefical to the imperalist, and promotes more and more domestic refining and jobs here...

Also, it reduces our dependence on borrowed money, which rising subsidy costs due to rising cost of production drives us into debt, and thus borrowing.

But they can't see that.

nairalanda1:


Removing fuel subsidy EVEN REDUCES OUR DEPENDENCE ON FUEL IMPORTS...which kind of is not benefical to the imperalist, and promotes more and more domestic refining and jobs here...

But they can't see that.

Of course. Removing subsidies means our government frees up more money for its own use, which means we're less likely to borrow from them and in that case they lose control over us. So I really want someone who sees things differently to explain what the IMF has to gain from giving us such advice.

nairalanda1:


Had a reply for you, but since you are still being abusive by calling me enslaved brain, when I haven';t even abused you, I don't think we can continue

Things cost money. Sadly

IMF is one of our biggest problem, it's a shame you don't realize, IMF was formed as a business, Europeans came together and discussed how they can mobilize and channel the world's revenue via loans for interests...that is how we started keeping reserves with them, which they use as part of their funds to run their private business...even world bank is a Private business and works closely with IMF...we deposit the money, they give it back to us as loans, with interests and conditionalities.

If you are smart at all, you will know IMF is one of our economic problems, most people know this, because it is the fact. Wise men like Sir Falana have told Tinubu to distance from IMF advice, remove ourselves from their global trade system that benefits dollar and European economies, and join BRICS. Are you wiser than Falana?

Johnjustice:

IMF is one of our biggest problem, it's a shame you don't realize, IMF was formed as a business, Europeans came together and discussed hiw they can mobilize and channel the world's revenue via loans for interests...that is hiw we started keeping reserves with them, which they use as part of their funds to run their private business...even world bank is a Private business and works closely with IMF...we deposit the money, they give it back to us as loans, with interests and conditionalities.

So if subsides go, we get more refineries , more investment in refineries and more jobs created because now everyone is free to make profit sellon petrol

After high prices initially, prices drop because competition.

And we spend less forex meaning we become less dependent on IMF loans.

Plus we no longer import fuel from imperialist nations. That's the koko

nairalanda1:


So if subsides go, we get more refineries , more investment in refineries and more jobs created because now everyone is free to make profit sellon petrol

After high prices initially, prices drop because competition.

And we spend less forex meaning we become less dependent on IMF loans.

Plus we no longer import fuel from imperialist nations. That's the koko

I agree with this your submission partly, but subsidies don't need to go finally, Nigeria earns enough, government must keep subsidizing things like food, transportation, healthcare and electricity for the masses, to keep the people going and general economy going, also to keep the people happy and peaceful. Too much hardship leads to unrest, increase in crime etc.

Federal and state government should put in work, use revenue to make more money, by investing in smart private controlled enterprises, to boost production and profit for the state, not just consume and waste revenue and inflows... states can invest in good projects, ideas, stocks etc. government don't need to run such investments, but should invest, to create jobs, boost productivity and earn profits, invest and allow private professionals run it, for a fee.

Our finance minister and his team are very intelligent, I believe they have the good interest of Nigeria at heart, they will do the job, that is their job, to plan economic policies and ensure all policies benefit Nigeria and Nigerians, grow the economy, boost production and reduce importation amd demand for dollars for imports. Let us listen to the finance minister and the economic team and smart Nigerians like Sir Rewane, Falana not IMF. iMF is our problem!

SWORD419:
What does an average nigerian benefit from the government other than subsidy

Think you for this question.

Johnjustice:

Now I see you are an educated slowpoke, and blatant liar, America pays unemployment and welfare checks till tomorrow to its citizens, born Americans that are either disabled, unemployed or too old to work...stop sounding like an ignorant. Subsidy doesn't mean free, it means government is investing some part of public revenue, either in form of concessions, tax waivers, investment etc, to make products and services cheaper(this is the work of government, or you want the politicians to keep all the revenue to themselves...only a politician or one of their stooge like that type of arrangement, because more money goes to their pocket)

I don't like engaging people that are not intelligent about what they are saying, but on a second thought, for the sake of enlightening the public....i will give a little lesson.

Tell me what benefit Nigeria has had since we started collecting IMF loans, with it's bunch of conditionalities.

IMF trade conditions is about trade liberalization and open borders, this means once you sign up with them, you will allow EUROPEAN imports into your country, without restrictions... knowing fully well that this model favors their advanced economies in Europe...they have more factories, equipments, produce more at a cheaper rate(economies of scale).

I suggest you read up on IMF conditionalities...Do you know what open borders agreement is, that was what turned Nigeria to an import dumping ground, IMF will insist you open your borders for imports, knowing the Europeans already have the advantages of production in large scale, hence we become the buyers, and consumers, from then till now, we became lazy and as our population grows, it gets harder to bridge the gap between our production and consumption, hence our imports volume keeps going up from then till now. If we didn't sign up for this, we would have been serious about production when we had a smaller population, our economy would have grown, people more prosperous. IMF is not a blessing to us, IMF represents the European world powers, it is a lenders club, Paris club, their aim is their interest. We need home grown solutions to home grown economic issues.

Never argue with a paid propagandaist

Social welfare spending to mitigate economic inequality.
Note that most developed countries realise that the state needs to provide a social welfare for its citizens so why are they against Africans providing subsidies for its citizens in education, transportation and electricity. These are factors that drive development. I had expected Almighty Jagaban and his plethora of advisers would have extensively researched the effects of removal of the subsidies and various safety nets while undertaking a benchmarking visit before putting the horse before the cart.

ON the other hand, over 50 years of subsidy are why we are not self sufficent in fuel and in power supply.

Sadly things cost money. Removing subsidy would enable domestic companies pay for stuff to make services better...which is good for Nigeria in the long run, and gasp...makes us less dependent , if not free from IMF.

False! Repeating the same lie over and over again can never make it true. The reason we are not self sufficient in fuel and power supply is CORRUPTION and STEALING by those saddled with managing our resources. It has nothing and I Repeat nothing to do with subsidy.

Obasanjo spentb $16 billion and was only able to add just over 1000MW into the grid.

In the last 10 years, Nigeria spent N25 billion to repair our refineries without producing a litre of petrol, this is despite billions of dollars stolen in the fuel subsidy scam, and you guys are shouting subsidy is the problem.

Apart from various safety nets, most countries still provide various subsides on electricity and fossil fuel

IMF policies has always been anti developing countries and the earlier we disassociate ourself from them the better.

wirinet:
ON the other hand, over 50 years of subsidy are why we are not self sufficent in fuel and in power supply.

Sadly things cost money. Removing subsidy would enable domestic companies pay for stuff to make services better...which is good for Nigeria in the long run, and gasp...makes us less dependent , if not free from IMF.
False! Repeating the same lie over and over again can never make it true. The reason we are not self sufficient in fuel and power supply is CORRUPTION and STEALING by those saddled with managing our resources. It has nothing and I Repeat nothing to do with subsidy.

Obasanjo spentb $16 billion and was only able to add just over 1000MW into the grid.

In the last 10 years, Nigeria spent N25 billion to repair our refineries without producing a litre of petrol, this is despite billions of dollars stolen in the fuel subsidy scam, and you guys are shouting subsidy is the problem.

Don't worry about corruption, according to the servile joker, nairalanda1, if subsidies are removed, corruption will disappear and we will be headed for Eldorado.

Too often I have been tempted to give him serious responses, but I mostly refrain seeing that anyone who could be so blind, so slavish, so narrow minded and so thoughtless, so lacking in capacity for analysis of anything - would never see reason.

Lavor234:

Never argue with a paid propagandaist

I personally concluded it is very likely that nairalanda1 is indeed paid to say what he says. Pity.

DeepSight:


I personally concluded it is very likely that nairalanda1 is indeed paid to say what he says. Pity.

Okay..

(IN Deepsight world...if my mommy disagrees with me, she is a paid propagandist).

Pity.

DeepSight:


Don't worry about corruption, according to the servile joker, nairalanda1, if subsidies are removed, corruption will disappear and we will be headed for Eldorado.

Too often I have been tempted to give him serious responses, but I mostly refrain seeing that anyone who could be so blind, so slavish, so narrow minded and so thoughtless, so lacking in capacity for analysis of anything - would never see reason.

He's getting more harpie and shrill....

Lavor234:

Never argue with a paid propagandaist

Like you, for example .

NO one is paying me for my opinions on nairaland. Your government, Obi, Atiku, etc, no one pays me.

My opinions are my opinions.

Better stop being abusive. This is a site. Whatever we say here, won't be remembered in ten years time.

DeepSight:


I personally concluded it is very likely that nairalanda1 is indeed paid to say what he says. Pity.

LOL....

I like this guy. Oya, make I drop my anger against am. He's upset someone disagrees with him, so he is crying all over the site.

Keep it up son.

nairalanda1:


Okay..

(IN Deepsight world...if my mommy disagrees with me, she is a paid propagandist).

Pity.

Oh I don't mind disagreement, believe you me. If you knew me better you would find that I even enjoy differing points of view.

However that is different from the sort of vacancy of mind which imagines that corruption is a consequence of subsidies.

DeepSight:


Oh I don't mind disagreement, believe you me. If you knew me better you would find that I even enjoy differing points of view.

However that is different from the sort of vacancy of mind which imagines that corruption is a consequence of subsidies.

Nah, you do, otherwise, it seems that you have let me build a nest on your head today.

Don't do it. I am an annoying bird. I like making a mess, and I also attract more birds too.

BY the way, they must be paying you big money to attack me and abuse me, since I didn;t abuse you today. I'm so important, eh?

Calm down Mr Vacant Mind!

nairalanda1:


Nah, you do, otherwise, it seems that you have let me build a nest on your head today.

Don't do it. I am an annoying bird. I like making a mess, and I also attract more birds too.

BY the way, they must be paying you big money to attack me and abuse me, since I didn;t abuse you today. I'm so important, eh?



Calm down Mr Vacant Mind!

You're not annoying and you don't make a mess. I find you extra ordinarily polite.

My issue is simple. I am still flabbergasted that anyone believes subsidies are the source of corruption in this country.

DeepSight:


You're not annoying and you don't make a mess. I find you extra ordinarily polite.

Oh?

My issue is simple. I am still flabbergasted that anyone believes subsidies are the source of corruption in this country.

SO, you had to call me an ignoramus , drunk (teetotaller me? ) and paid agent , because I disagreed with you?

Okey dokey. You have let me make a mess of your head, that you get upset over polite comments.

(Me, I get upset over nairalanders comments about me, but eventually, life ist too short, why be sick. ).

You still don't get my points though, and I am not explaining myself anymore. You better not let the internet dominate you.

nairalanda1:


Oh?



SO, you had to call me an ignoramus , drunk (teetotaller me? ) and paid agent , because I disagreed with you?

Okey dokey. You have let me make a mess of your head, that you get upset over polite comments.

(Me, I get upset over nairalanders comments about me, but eventually, life ist too short, why be sick. ).

You still don't get my points though, and I am not explaining myself anymore. You better not let the internet dominate you.

Pls think what you like. It will do nothing to my life. Believing that subsidies are the cause or origin of corruption in Nigeria, and that corruption will cease with the removal of subsidies, is ignorant and stupid. And I have no apologies for saying so.

DeepSight:


Pls think what you like. It will do nothing to my life. Believing that subsidies are the cause or origin of corruption in Nigeria, and that corruption will cease with the removal of subsidies, is ignorant and stupid. And I have no apologies for saying so.

So, hold your belief, without being so abusive about it.

After all, abuse means the person you are abusing has power over you. I don't want to be having power over you.

DeepSight:


You're not annoying and you don't make a mess. I find you extra ordinarily polite.

My issue is simple. I am still flabbergasted that anyone believes subsidies are the source of corruption in this country.

My brother you can't blame them, it due to decades of deliberate miseducation and indoctrination by IMF and World Bank.
How subsidies is the source of corruption is part of their economic theories taught to Africans but not taught to Scandinavia, Europe, Canada, the Middle east and other western nations. In most of those countries education is highly subsidised. Even in Russia education is almost free up till university level. Food also is highly subsidised with heavy subsidies to farmers. The worst is CAPITAL. In all these countries, capital to entrepreneurs are highly subsidised. Imagine interest rates of 1 to 5%, and you get a moratorium of up to 3 years before you start repayment.
IMF and world Bank would never cite bogus white elephant projects as the cause of our problem, they would never cite our 70% recurrent expenditure to 30% capital, which is usually misappropriated anyway. They would never theorise that billions and billions of dollars that is simply stolen/transferred out of our coffers and deposited in their banks is source of our underdevelopment. All they shout is subsidy, subsidy and subsidy.
They know that plunging the mass of the population into abject poverty is the surest means of causing instability. They know that a poor, hungry man is a tool for causing chaos. They understand that poverty along with religion leads to insurgency, militancy and conflicts. They had the experience during the revolutions in Europe and America where the poor caused so much instability. If you know how much the US spent during the great depression and even during Covid19, to subsidise the masses, you will understand they have sinister motives when they preach anti-subsidy doctrine to us.

sharpchap:
IMF exists to serve the interests of the European Union not Africa. They tell you things that will help them obtain cheap raw materials and cheap expatriate labour from Africa. Why are our leaders so foolish? Or rather let us be more precise and recognize that our leaders are actually their agents. Thats just the simple truth.

I am fed up of these supposed intentions of IMF. IMF would not be in your business if you do not mismanage your economy. How would a third world country borrow over a billion dollars to fund unproductive subsides at the expense of development.

wirinet:

My brother you can't blame them, it due to decades of deliberate miseducation and indoctrination by IMF and World Bank.
How subsidies is the source of corruption is part of their economic theories taught to Africans but not taught to Scandinavia, Europe, Canada, the Middle east and other western nations. In most of those countries education is highly subsidised. Even in Russia education is almost free up till university level. Food also is highly subsidised with heavy subsidies to farmers. The worst is CAPITAL. In all these countries, capital to entrepreneurs are highly subsidised. Imagine interest rates of 1 to 5%, and you get a moratorium of up to 3 years before you start repayment.
IMF and world Bank would never cite bogus white elephant projects as the cause of our problem, they would never cite our 70% recurrent expenditure to 30% capital, which is usually misappropriated anyway. They would never theorise that billions and billions of dollars that is simply stolen/transferred out of our coffers and deposited in their banks is source of our underdevelopment. All they shout is subsidy, subsidy and subsidy.
They know that plunging the mass of the population into abject poverty is the surest means of causing instability. They know that a poor, hungry man is a tool for causing chaos. They understand that poverty along with religion leads to insurgency, militancy and conflicts. They had the experience during the revolutions in Europe and America where the poor caused so much instability. If you know how much the US spent during the great depression and even during Covid19, to subsidise the masses, you will understand they have sinister motives when they preach anti-subsidy doctrine to us.

I know for sure tuition is free in most Scandinavian countries

wirinet:

My brother you can't blame them, it due to decades of deliberate miseducation and indoctrination by IMF and World Bank.
How subsidies is the source of corruption is part of their economic theories taught to Africans but not taught to Scandinavia, Europe, Canada, the Middle east and other western nations. In most of those countries education is highly subsidised. Even in Russia education is almost free up till university level. Food also is highly subsidised with heavy subsidies to farmers. The worst is CAPITAL. In all these countries, capital to entrepreneurs are highly subsidised. Imagine interest rates of 1 to 5%, and you get a moratorium of up to 3 years before you start repayment.
IMF and world Bank would never cite bogus white elephant projects as the cause of our problem, they would never cite our 70% recurrent expenditure to 30% capital, which is usually misappropriated anyway. They would never theorise that billions and billions of dollars that is simply stolen/transferred out of our coffers and deposited in their banks is source of our underdevelopment. All they shout is subsidy, subsidy and subsidy.
They know that plunging the mass of the population into abject poverty is the surest means of causing instability. They know that a poor, hungry man is a tool for causing chaos. They understand that poverty along with religion leads to insurgency, militancy and conflicts. They had the experience during the revolutions in Europe and America where the poor caused so much instability. If you know how much the US spent during the great depression and even during Covid19, to subsidise the masses, you will understand they have sinister motives when they preach anti-subsidy doctrine to us.

Thank for this good brother.
Mr. nairalanda1, FYE.

Lavor234:
I know for sure tuition is free in most Scandinavian countries

Not just Scandinavian countries, education is free in Russia, most countries of the Middle east, most of Europe, China, Japan and even Canada up till secondary school level.
Below are countries offering free or very cheap education to their citizens- https://www.onlinecollegeplan.com/what-countries-offer-free-college/

Nairalanda1, please take a look at the charts posted by Lavor234. Take time to look at the third chart specifically. It contradicts everything you believe in. It shows Nigeria spends a lower proportion of its GDP on subsidies. It also proves that subsidies aren’t the reason why our petroleum and power sectors have collapsed.

We are all still learning and we should all want the best for Nigeria. We may have different opinions but facts should be sacrosanct.