₦airaland Forum

Too many dumb ediots in this country.

ASUU can go on strike requesting government close the new Universities. Unless roaches.

When you people create monikers to spew rubbish, try to be a little convincing. The amateur hour is over.

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Ababadada:
Urhobo you are on own ! We Ijaws in SS support Asari Statement

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Ababadada:
Urhobo you are on your own. We Ijaws in SS support that statement. We support Biafra. We are tired of dubious Yoruba people.

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Mogidi:
So you didn't pray for Nigeria in the past but suddenly want me to pray for Nigeria now?

lygn19:
Buhari is a hundred times better than GEJ, he even said it with his mouth...
Look at in PH where o stay in,d moment Buhari won election, in less than one week NDDC came and started working all d abandon roads they have left since GEJ's time...
Not only dat look at NEPA der are some places in PH dat has not had light for months, a week to inauguration they came and started fixing everything...now der is light... compare there two.

You stay in portharcourt now? You people no dey tire.

look at comments, now you can see why most of you will be living in hell for another 4 years. How some of you suspend your sense of disbelief is simply unreal.

I will say it again, when the books are opened in this country, APC stalwarts will stop talking about corruption.

The minorites of the eastern region and if you guys don't mind the Midwest too, are understanding this Nation much more better, than ever before. Someone asked if they would have supported an Igbo candidate. History has it on record that our first Premier in the Midwest was an Igbo man, I don't see why supporting an Igbo Presidential candidate would be a problem for a Midwesterner today or any Eastern minority.

Also GEJ presidency has done lots of good, it educated many in the region.

pazienza:
"They"? Are you really an Igboman? I doubt. No one refers to a group he is a member of as " they".

took you a while

nairamaniac:
why do you Nigerians forget so easily. Jonathan didn't say "let's remove the subsidy, cos its a scam". he said, " let's remove the subsidy cos iv been scammed". he was scammed to spend 1.2trillion naira as against 400 billion which was spent the previous year. now, Jonathan transfered the burdens of his damage to us the ordinary citizens to pay for the excess 800billion. we d citizens played for this damage every subsequent year thru d removal of subsidy. Jonathan's government is the worst ever, economically speaking. no one has even asked why the naira was devalued last year November. the naira was devalued from 160naira/1dollar to above 250naira/1dollar becos our wicked country had to access our foreign-reserve in order to make up for difference in oil-revenue after oil prices had crashed. the yearly budget depends mainly on oil revenue. as oil prices crashed from above $100 to less than $60, the government wdnt have beenable to meet up with a budget of 4trillion anymore, the most they WD have gotten is about 2trillion. they needed money from somewhere. that somewhere was the 'foreign reserve'. they wanted it to be plenty wen converted to naira, hence they devalued the naira and the economy and masses suffered just as it suffered when subsidy was removed. My people, God loves this country that y he has directly bailed us out on two major-occassions . the 1st time was thru the death of Abacha. the 2nd time was the removal of Jonathan.

https://www.nairaland.com/2340499/yaradua-spent-1-trillion-naira#34148814


Yar'adua Spent 1 Trillion Naira On Fuel Subsidy In 2009.

A lot of misinformation has been being flying around of recent, one of which is that GEJ met a subsidy spending of less than 300 billion before it shot over 1 trillion as he became president.
This is a Bloomberg article to dispel the false news once and for all.

Nigeria Plans to Abolish Fuel Subsidies, Aganga Says



Sept. 3 (Bloomberg) -- Nigeria’s government is aiming to remove subsidies on domestic fuel prices by the end of next year at the latest after investing in a mass transit system to ease the impact on the poor, Finance Minister Olusegun Aganga said.

“It is going to be sooner rather than later,” Aganga said in an interview in London today. Everything will be ready “by the end of 2011 at the latest. It could be this year.”[/b]

The subsidies will cost the government 520 billion naira ($3.4 billion) this year, compared with 1 trillion in 2009, central bank Governor Lamido Sanusi estimated in June. That compares with a federal budget deficit of 1.9 trillion naira this year, which Aganga said today he wanted to narrow in 2011.

The abolition of the subsidy would increase gasoline prices to 115 to 120 naira a liter from 64 naira currently, Aganga said.

“If that happened, it would be a big shock to the system,” he said.

Nigeria, Africa’s biggest oil producer, imports more than 80 percent of its domestic fuel due to a lack of refining capacity, according to the country’s Petroleum Ministry. The government, through the Nigerian National Petroleum Corp., guarantees regulated fuel prices by paying importers the difference with market prices.
Mass Transit

Crude oil for October delivery declined $1.33, or 1.8 percent, to $73.69 a barrel at 12:14 p.m. on the New York Mercantile Exchange. Nigeria’s budget estimated an average oil price for the year of $60 a barrel.

About 10 billion naira has been earmarked to improve public transportation and many buses have already been ordered, Aganda said.

The government is also in talks with labor unions to gain their support and avoid social unrest, he said. “I think we are making very good progress” in the talks.

“Everyone accepts that there is no economic sense to maintaining subsidies,” Aganga said. “The question is, what would be the impact of removing the subsidy on those that you want to protect, the most vulnerable in society?”

To contact the reporter on this story: Philip Sanders in London on psanders@bloomberg.net.

To contact the editor responsible for this story: Peter Hirschberg at phirschberg@bloomberg.net.

http://www.bloomberg.com/news/articles/2010-09-03/nigeria-aims-to-end-oil-subsidies-within-6-months-finance-minister-says

Mogidi:
Hahahahahahah!

Abeg free me joor.

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SarahBabyxx:
Shouldn't you be in the pet section? #justasking

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I am here to read the lamentation of the one Nigeria crowd

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SarahBabyxx:
You have something to say?

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Mogidi:
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I thought you were from Edo state that's why I bothered replying. Don't worry about how we would manage, we were able to manage Mid-west after our agitation to leave the Western region. Check out the tribes that make up the then Mid-western state. We had the Urhobos, the Binis, Isoko, Itshekiri etc. we didn't kill ourselves.

With time you will learn to know them, with their multiple monikers.

Nice headline, but the story is very different. The man is only asking Buhari to look before he leaps.

Mogidi:
Osibanjo is still 2 inches taller.

Any one shorter than 3feet is officially a midget or dwarf, we have 2 midgets in government as I speak, NICEEE

you no go kill pesin

Another thread for the lamentation of the one Nigeria crowd.

the picture said it all.

frehage:
Well, petrol is three times cheaper in Venezuela, the gulf states, etc, than Nigeria and more than five times cheaper than is obtained in South Africa and other non oil producing countries. How about that?

Petrol is cheaper than bread in Venezuela, unfortunately they have none available to sell, without your food/fuel ration card. The Gulf states enjoy a massive production volume, extremely low population, so their governments can actually give it away for free, if they choose to. Just Imagine Bayelsa state keeping their 600,000 barrels a day for themselves only. Petrol will be N10 in yenegoa, not the N160 paid by the locals with or without subsidy. Nigeria is not Venezuela neither are we the gulf states.

wirinet:
Cashewnuts, seseme seeds and soya beans.

Not in Nigeria's Lagos.

frehage:
Benue State churns out hundreds of thousands of tons agricultural produce annually. As a result, the state's residents could practically get some products next to nothing. This is not the case with Lagos and some other states. We are an oil producing country. We shouldn't buy petrol at the same price that non oil producing countries like South Africa do.

Please name one globally traded commodity produced in Benue, that is cheaper in Benue than Lagos.

They came to Lagos to buy injunction,, see bad market every where these mad men turn.

Sweetguy25:
The report does not contain factual information.

The books will soon be opened for all to see, NOI already have copies, so people cannot manipulated the numbers. Many will stop talking about corruption by June in this country..

doctokwus:
That info was sourced from Businessday, d most authoritative biz daily in Nigeria.By d way its not my blog.
Its disgusting to see lies being spread on this site.Don't u have any sense of decency?

Why not provide your business day link? As for authoritative, please leave that for another day.

doctokwus:
Why are you people do deceptive;don't u have any sense of shame and decency.Tufiakwa!
That stuff u posted is an estimation by Sanusi, which u even highlighted but couldn't comprehend.
For the sake of honest,decent folks on this forum,these are the amounts spent on subsidy:
-2007-N188b
-2008--N256b
-2009--421.5b
-2010--N673b
-2011--N1.3t
-2012--1.05t
[url]www.white pages.com/blog/nigeria-spends-n4-9trn-in-7-years-on-fuel-subsidies[/url]

Between you, your blog-source and Bloomberg news, who is now lying

This thread will go no where, I can't wait to revisit issues like our ECA. Nigerians, numbers don't lie.

wirinet:
Believe me, crude oil and its products is a social engineering tool. Countries go to war to control oil fields. There are usually social upheavals in most third world countries that attempts to increase fuel prices.

Upheavals in countries, where government pretends to be father Christmas. Countries go to war for access and security of their energy demand. Nigeria is not in any of those positions. If Nigeria were a non oil producing Nation, we will have working refineries and PMS will be available in abundance, because there will be no freebie to offer.

When the books are opened in this country, many will cry for days.