Why Not Use The 75k To Subsidize Fuel? - Politics - Nairaland
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How Were Buhari And GEJ Able To Subsidize These 5 Items and Still Worked? / Fellow Nairaland Users Do You Know FG Still Subsidize Fuel / Nigeria Can’t Subsidize Fuel Any Longer ― Senator Yusuf (2) (3) (4)
| Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 7:33am On Jan 20 |
I just woke up to a news on nairaland that the federal govt is poised to dish out 75k each to about 7milliion Nigerians. I was shocked to have read such. Even a baby who is still in kindergarten would know that such plan would amount to nothing. They claim the plan was to cushion and alleviate the effect of the economic hardship being experienced by Nigerians. This is totally wrong! We all know that these monies will be diverted to personal pockets and shared among cronies. Why not use same money to Subsidize fuel so that the cost of living will reduce for every Nigerian.? 8 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by Jidejenson(m): 7:34am On Jan 20 |
 HandyRex: |
| Re: Why Not Use The 75k To Subsidize Fuel? by SalamRushdie: 7:37am On Jan 20 |
Another proof the current govt knows nothing and won't accept they know nothing...Removal of fuel subsidy remains a collosal mistake even though the cocky govt don't want to admit it ...Nigeria has lost 100 times more to fuel subsidy removal than they would have lost just paying subsidy..today it cost the govt 10 times more to build a kilometer of road just because the removed subsidy 6 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 7:47am On Jan 20 |
SalamRushdie: I've never seen such an irresponsible govt 4 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by tommy589(m): 7:53am On Jan 20 |
I hope they will use NIN to identify needy families that needs help most at this period 1 Like 1 Share |
| Re: Why Not Use The 75k To Subsidize Fuel? by Sannisege: 8:01am On Jan 20 |
HandyRex:You mean Obi Cubana, Okoya, Otedola and other wealthy people with 10 cars convoys should also drag this 75k with the poor? 3 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 8:03am On Jan 20 |
Sannisege: Stop sounding incoherent 4 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by Sannisege: 8:04am On Jan 20 |
SalamRushdie:Shallow reasoning. 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by Sannisege: 8:09am On Jan 20 |
HandyRex:E pain am. Eleri ibu. 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by kmst: 8:10am On Jan 20 |
Ask why they haven't paid corpers 77k fes Fantastic corruption 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by Sannisege: 8:16am On Jan 20 |
This is a good gesture from the FG if properly implemented. However, the government should go further to subsidize services enjoyed mostly by poor people such as public transportation, public schools and hospitals etc. |
| Re: Why Not Use The 75k To Subsidize Fuel? by galserv: 8:21am On Jan 20 |
SalamRushdie: Why did you just sound like a hopeless illiterate  What is our debt to revenue ratio compared to the subsidy era How much is the NNPC remitting to the FG compared today to the subsidy era No free lunch in life. Get your lazy assss to work. SUBSIDY IS GONE!!! |
| Re: Why Not Use The 75k To Subsidize Fuel? by ivandragon: 9:05am On Jan 20 |
Better yet, subsidise the exchange rate with that money and go after those that manipulate the fx rate. Punish the criminals for the benefit of the masses. Apc and bat are disasters. |
| Re: Why Not Use The 75k To Subsidize Fuel? by SalamRushdie: 9:15am On Jan 20 |
galserv: Nigerias major problem has always been the prevalence of Low IQ individuals making up the bunch of the population..I doubt your IQ is above 60 so you can never get the point I made ,, if I am less busy today I might come back to school you and see if you can even understand how removal of oil subsidy cost 1000 more than than keeping it ..Trust me your IQ can't be above 60 2 Likes |
| Re: Why Not Use The 75k To Subsidize Fuel? by SalamRushdie: 9:18am On Jan 20 |
Sannisege: Your IQ is too low to process information at such levels , you are noth but a sub human thats no smarter than a lizard so you can't get this ....Go and find food to eat and the procreate , that the only thing your brain can handle ..abi you think it's a coincidence you and any member of your lineage have never created any thing new in your entire existence? |
| Re: Why Not Use The 75k To Subsidize Fuel? by galserv: 9:23am On Jan 20 |
SalamRushdie: Od*! Nigeria was on the road to economic perdition - borrowing money to pay debts. How can that be difficult for you to comprehend FG has more money than ever today. 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by heykims(m): 10:03am On Jan 20 |
For how long? Guys don't know how much it costs to subsidise fuel just for a day. 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by SalamRushdie: 10:27am On Jan 20 |
galserv: The more you write the more you prove you can't be smarter than the average lizard ...tell me one thing you can do better than a lizard ? |
| Re: Why Not Use The 75k To Subsidize Fuel? by ElSudani: 10:29am On Jan 20 |
HandyRex: You are actually the one who doesn't know what you are talking about. The people being targeted will gain nothing from the hare brained idea of using the money to subsidize petrol. I wonder why some Nigerians are so fixated on petrol subsidy. How much do you think it costs to subsidize petrol even for a day? |
| Re: Why Not Use The 75k To Subsidize Fuel? by ObosiLandlord(m): 10:42am On Jan 20 |
HandyRex:Government need at least 900 billion per month to subsidize fuel. |
| Re: Why Not Use The 75k To Subsidize Fuel? by galserv: 10:47am On Jan 20 |
SalamRushdie: Nonsense! Keep grasping unto straws |
| Re: Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 10:51am On Jan 20 |
ElSudani: Did u read what he wrote before I replied him . Whatever it costs to Subsidize petrol shouldn't be your problem, it's not your money. 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by ElSudani: 11:02am On Jan 20 |
HandyRex: Oh my bad, it's your money. |
| Re: Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 11:09am On Jan 20 |
kmst: They will start this month. It's already in the Budget |
| Re: Why Not Use The 75k To Subsidize Fuel? by richmond500: 11:14am On Jan 20 |
HandyRex:that is about 500b naira. How long can u subsidize fuel with that amount? |
| Re: Why Not Use The 75k To Subsidize Fuel? by StarRiderr: 11:15am On Jan 20 |
Tinubu the Clueless one on the beat again. Owon Gofment of palliathieves 1 Like |
| Re: Why Not Use The 75k To Subsidize Fuel? by asanausana91: 11:37am On Jan 20 |
Sannisege:do you know where majority of that 75k is going? Tinubu,Gbajabiamila, and other rich politicians will enjoy 80% of that money. Only 15% will be given to the poor. |
| Re: Why Not Use The 75k To Subsidize Fuel? by asanausana91: 11:37am On Jan 20 |
richmond500:it is more than 5 trillion naira |
| Re: Why Not Use The 75k To Subsidize Fuel? by Tinubuadvocate: 11:40am On Jan 20 |
So when the money finished what gonna happen? |
| Re: Why Not Use The 75k To Subsidize Fuel? by HandyRex(m): 11:50am On Jan 20 |
Tinubuadvocate: Tell your people to stop the looting. When the stop looting, more funds would be available for subsidy |
| Re: Why Not Use The 75k To Subsidize Fuel? by richmond500: 1:03pm On Jan 20 |
asanausana91:Oga calculator deh ur phone, use it and calculate |
| Re: Why Not Use The 75k To Subsidize Fuel? by nairalanda1(m): 2:53pm On Jan 20 |
HandyRex: Well, that amounts to 5.3 trillion naira which might not be enough 1. Last time Nigeria subsidised fuel for a whole year it was 10 trillion or more spent...and the government was still owing money on top. ..so 5.3 trillion naira may not be enough(It is a one off payment, not a month-on-month payment, otherwise, I would be agreeing with you...with some caveats...) Infact, subsidy has always been associated with debts. It took Buhari five years to pay off subsidy related debts from the Jonathan admin...(part of the delay was due to a dispute over exactly how much was owed...but even then, NIgeria didn't have enough money for some time). 2. OIl prices are rising. And the problem with that is that subsidy costs rise as well. That can lead to rises in subsidy costs. (That is the main reason why ...going back to my point no 1...GEJ was still owing subsidy claims when he left office. Sky high oil prices....means higher subsidy costs). 3. Even if oil prices come down, that impacts government revenue, and CBN's ability to keep the naira stronger...which would in principle lead to higher prices, especially as the government is now letting the naira 'float' in theory (there may be still some controls...still, as His Highness, the Emir of Kano has said for years...the official and parralel rate of exchange should not have much difference between them). And no...getting the government to set an artifical rate for the naira...is always not going to end well. Part of the reason why Tinubu had to remove subsidy was decades of parrallel government rates to the dollar, including, at one time 4 different rates, led to massive debt issues later on...to say nothing of the massive corruptiion via round tripping. 4.Nobody is going to build refinery again, or maintain them well. NNPC refineries are all working again, Dangote is working, and people are rushing to sign up for refinery licences...which is happening because subsidy has in essence gone. That means refining in Nigeria is profitable again. At the end of the day, bringing back subsidy is going to make it difficult for people like Dangote to make a profit to keep his refinery running well. |
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