Despite announcing the removal of subsidy on petrol and more than 400 per cent subsequent rise in the price, the Federal Government may be secretly paying an unspecified amount to marketers of the product to maintain the current pump price.

President Bola Tinubu had during his inaugural speech on Monday, May 29, 2023, announced that the era of subsidy payment on Premium Motor Spirit, otherwise known as petrol, was over. This announcement led to an instant rise in the pump price of the commodity from N189 to about N500.

The source said, “Ordinarily, the government ought not to be involved in fixing the pump price of petrol in a deregulated economy just as it is with diesel and kerosene, but when we realised how the removal of subsidy on petrol has thrown the citizens into poverty and how fast the administration is losing credibility and goodwill, we had to put on our thinking caps.

The security reports we are getting are not favourable at all. There is a high probability that there may soon be civil unrest and escalated tension as the citizens have been pushed to the wall. There are indications that the organised labour, civil society.


Don’t forget that the election that brought President Tinubu in is still being vigorously challenged by opposition parties, who are mounting massive pressure on the judiciary to overturn the result. Any protest at this time will not augur well for the administration as it will be difficult to contain and may be hijacked by the opposition, and if the presidential election petition tribunal orders a rerun or cancellation of the election.

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Pounchnews

Agbado group of companies are begging Obi to release his grip on the testicles

I hereby officially informs u that tinubu has sold some percentage of Nigeria for 3 billion dollars

Ashawo na ashawo Wether poor or rich

Hausa don carry armed robbery for head like gala


In another news, tinubu and em gang wan suffocate Nigerians

Bad Policy after another.

Abeg how can I buy dollars at cbn rate

aybabz101:
What pains me the most is the idiots that called themselves graduates that who to think differently from others are the ones championing and spewing thrash.....

se na one day Tinubu go build refinery?!... your country has being without a functioning refinery for about forty years now....an oil producing country for that matter!..... na Tinubu go come fix am now?.....it doesnt take a reasonable person to elucidate that what we are facing at the moment is a cumulative effect of successive failed administrations....Obasanjo, yaradua, Jonathan and Buhari are all failed leaders........

nothing Obi or Atiku would have done differently as regard fuel subsidy......so, all this shit happening is expected.....

And the Dangote that is building a refinery at the moment said he will sell at international rate......SMH...corrupt leaders and dishonest followers

Oga Obi would have done something different!

Don't put ebola desease in the page with Mr Peter Obi.

All this dramas will force tinubu out of aso rock and the world is

:

DontSuckToto:


It's for your own good.

what is wrong with it. I do sha

U be real mumu

So u think say I send the spelling

Learn from our vast knowledge and avoid ignorance

Memphitz357:

Our educational systems is at an all time low.
Common "Robbery" na im you nor fit spell correctly.
Kai!!!🥺

9ja army Nobi ur mate for international fight because na there money dey, every young military recruit dey pray to go fight for foreign country.

Then the free looting and Robbery that is called the spoils of war

Usmanovic95:


Believe? You almost had your heart in your mouth.

U no dey talk sense again

I said the result clearly b4 the game and I played it since Monday and waited for 5 days and the result proved me right.

But u, enemy of good things

I will bring more draws

Usmanovic95:


Hope you sha stake am with all your money home and abroad.

Profit made and chopping things now

Opportunities are unknown except through trail.

Learn to believe

Full time draw


Decided before life began on earth

Oshomole was NLC comrade and now he is a petron and Oshomole is part of this government bit Nigerians think that Oshomole boys will destabilise their own government


In the voice of asari d idiot, una be foto
U a mumu never do

9ja & Canada double chance @ 1.95

Please oh please


How can I get information quickly when looting is about to take place in my state so that I can go and pack my bus inside the bush near government house storage

ogaemma:
We joke too much in Africa.

ECOWAS don't have what it takes to give a no flight zone ban.

Meaning what?

Nigeria is always the leader of ecowas and the Nigerian army is larger and superior than the entire military of the rest ecowas member states put together


So if 3cowas place a no flight zoom on any member state with Nigeria at the forefront, it is mission accomplished!

If tinubu fail to go to war in Niger republic ASAP, he should be ready to pack his bag out of aso rock.





The coup plotters in Niger republic wants to use the opportunity of a non military president in Nigeria to take power by force in Niger republic especially now that Nigeria government is new to office.


This is make or mare for Tinubu

If u Don gerrit fogrrt abaorit

I know em go wear polo


Ibu no get dress sense at all at all


With big weak belle, em supposed yo dey look good in Agbada but who tell the bush man

reactors

Nuclear reactors

2mch:

God punish you, foolish White man for coming to a Nigerian forum to spew hate. I know many of you are here with your generational mental problem of racism and hate. Nuisance.

Fault him logically because u just proves him right

abba190:
good. so that these obese children will now be in a good shape

Lqrge number of Africans I mean Nigerians are senseless. I mean many of our people are senseless.

They can read and write german but they could not read the letters that was being sent to them and when they managed to read any, they could not act or even think.

Las las

Poor man Nigeria is a poor in America

I don't know what to say even though I have the experience.




9ja itk over u guys



The children's mother abi na reporter said " deported just at time they were getting ready to give back"

Still wondering what they could give back or who cares to receive the give back

I just requested for same then open nairaland to this topic








Na em bi say









I don grow richer
















Amen

All of u are hypocrists and also senseless


The man is suffering from tinubu effect!

U idiots only find it voice when it comes to ur fellow poor person but if na big person una for dey use ethnicity judge the case

Tinubu want to blindfold Nigerians and steal our common wealth but he will fail

You are being cleaver by half or urtherly stupid.


The rope gets more tight and no structure or foundation for social interventions and hardly can be.

But here u are claiming inexistent creations.

This moves is to control and reduce the populations! Stop playing devil

Votukpa:


The CBN prime rate has no direct impact on the poor. If it has, it's very implicit and negligible. It's impact will be more pronounced on large manufacturing and production operations of conglomerates and multinationals, increasing their short term liabilities (banks would rather borrow these elements than to the poor). Institutional money managers and large finance houses such as pension funds, banks and insurance companies will react to the hike too. Specifically, the prime rate hike is likely to initiate a strong short term sell off in the NSE all share index that may cool off the current bullish trend in the equities market, considering that big investors and money managers will see economic sense in rebalancing their portfolios in favor or fixed income assets.The poor already pay a premium for TRYING to access loan funds from financial institutions and so a hike in the CBN prime rate might not change their ability to borrow in the short term.

The hike is very likely to mop up excess liquidity in the economy that will be moped up by the fiscal sector and channeled to government programs and social intervention schemes, resulting in the empowerment and employment of the poor. The government, on all levels support the poor through welfare programs that many aren't aware of. Employment of the poor is usually generated through recurrent government projects and special public works. This might be an overall win for the little guys.

iamdapsyj:


Too much liquidity in the economy..... so the CBN did this to manage inflation in the country. When the economy stabilizes, they can now begin to reduce the interest rate gradually.

Since October 2022, cbn has been mopping up of the populations money. The wan make the masses more poor, they will fail

See as em come bi like angle Micheal is coming HOLY


The level of thiefry going in this Nigeria government is next to known

Sablexxxtoons:
Well done ,Please how did you go about preparing the land, i have never seen prep of wetland before.. i am coming into some wetlands soon so i am eager to learn

The place was used for cucumber about two years ago and at the time I took the land, it was very bushy so I hired about 6 labourers to clear it and then after the clearing the we did the levelling and tilling.

From the photo u can see that there are lot of water in the land and that will help since we are not using controlled irrigation system rather we depend 9n rain and it is still july so many more rain expected at least till September. Though it is because of location and climate of this rigion which has enough rain even till November