₦airaland Forum

There is nothing left.... The fate of this country lies in the hands of the Nigerian people, no one will rescue this country except the people. Nigeria is ripe for a revolution....

Any little respect Nigeria enjoys within the international community is gone! How can there be national electricity grid collapses intermittently for over 24 to 48 hours without any one taking responsibility? It is glaring that what ever is left of the independence of Nigeria's national assembly in checkmating the excesses and failures of the executive arm is dead. Nigeria today is a laughing stock and a banana Republic because those in government have failed in all ramifications. It was just reported earlier that over 100 people were kidnapped in a Zamfara community, till now nothing has been done to rescue them.

In the midst of outright failure of the government to address any of the issues facing Nigeria, why is Tinubu and his ministers still occupying their offices? Why are Nigerians docile in demanding accountability from their representatives? why has national assembly refused to impeach and remove Tinubu?

Tinubu and his incompetent callous government are currently destroying Nigeria's economy over his harsh economic policies, over these national grid collapses, no serious foreign investor will take Nigeria seriously and the ones that are currently operating their businesses in Nigeria are shutting down. The damage done to Nigeria is incomprehensible as it is only a matter of time before the economy collapses totally and when it happens, it is Nigerians that will bear the brunt of a dead economy over their foolishness (Tribal/religious sentiments) and failure to demand accountability and responsibility from those in government..... It's a shame....

Tinubu and his political looting gang will continue to spend frivolously on themselves while deceiving Nigerians that they implementing "economic reforms" that no one knows when it will yield any positive results.... The earlier Nigerians wake from this deception the better.... Nigeria's economy is dying over this government's callous policies....

https://www.youtube.com/watch?v=006_Y1FD9eE

Nigeria is nearly bankrupt and there's hardship in other countries! - Tinunu

I hope those close to her can advice her better.... It is not too late for her to reject this appointment....

https://www.youtube.com/watch?v=ZAd0VoI8cDU?si=YNttDJc5mmrbGkPL

I don't know the rationale behind this political move by Bianca Ojukwu, why soil your name by joining one of the worst illegimate evil government in Nigeria's history....? Didn't she learn anything from what happened to the former women affairs minister, Uju Kennedy Ohanenye?

She will be used as a pun by Tinubu to influence, manipulate South East 2027 presidential election political gambit and dumped after he gets what he wants. It is sad that her credibility especially towards what her husband stood for is on the line....

Bianca has made a big mistake that she will regret by joining Tinubu's government....

You can laugh now because the effect of Tinubu's disastrous policies is yet to fully affect you directly.... Just as I said earlier, it is only a matter of time, you will not escape the consequences....

nairalanda1:

@Ttalk don't mind nairalanda1 he will always deflate from answering any question as regards accountability.... his only tactics is to throw around figures and complain about how refining fuel is expensive, how the budget can not finance it in defense of the incompetent government. He will not answer any of your questions.....

Ttalk:
You are uninformed and you have flaunted your warped opinion here so much without challenge that makes you feel you are making sense.

Tell me, what is the rationale in proposing CNG as a substitute for high fuel?

Which one is cheaper for consumer between CNG and electric cars?

Why is government silent on electric cars but campaigning for adoption of CNG when everyone knows the price will be jacked up the moment many convert to the CNG.

No one say subsidy on fuel is sustainable but do you think abrupt removal of the subsidy is sustainable?

Where is the savings from removal of the fuel subsidy?

If Nigeria can no longer afford fuel subsidy, should we continue to practice bi-cameral legislature, can we afford to run a full time legislature? Should we continue to practice presidential system of government when we know that these system can only be operated by a rich country?

Nigeria is a poor country, but the political elites continue to live a life of opulence at the expense of the Nigeria.

If you don't know, I tell you categorically that a Senator go home with nothing less than 60m as quarterly allowances. While they continue to feed fat on other perks of office.

Any reform that is not wholistic that doesn't affect the political elite is nonsense

I ask you, where is the savings from subsidy removal, what sector has the savings revived

You keep deflating and making excuses for the deceitful government.... Since you love to play with figures, I had asked you a question in a previous reply, what did the government do with the savings made from subsidy removal? The only defense you keep making is "Oh subsidy costs money, fuel is not cheap..... etc" but when it comes to holding the government to account you are silent... Nigeria's economy can not survive Tinubu's current harsh economic reforms.....

nairalanda1:
I have heard you. In other words, because my figures do not agree with what you think, you resort to the time tested strategy of the adhomien.

Rather underhanded of you don't you think.

Well, like I said, getting worked up and angry about the fact that subsides are very expensive, and even prone to corruptiion to boot....doesn't change the fact that they do cost too much money in the first instance.

Good morning, master of ad homiens.

All the figures you are dishing out are speculative because the current government is not sincere.... it is not transparent with Nigerians regarding the true financial figures it spent or continues to spend on subsidies and other overheads.... You always fail to factor in the corruption, misappropriation, mismanagement and looting of funds been done by politicians within the government in your analysis, your submissions are always idealistic and not realistic as you are always quick to swallow and parrot the official narrative pushed by the insincere government.... These harsh policies if sustained will destroy Nigeria's economy in the long run, no one benefits in a dead economy, this is why in my final submission I had pointed out that Tinubu should resign or be impeached to save Nigeria's economy from impending doom since his government is incapable of providing any viable solutions to the economy problems facing Nigerians over his policies..... As you are typing here on Nairaland, many businesses are shutting down, investors are leaving, unemployment is rising, purchasing power is droping, insecurity is rising, transportation fare is rising, these are unsustainable indices that exposes the undeniable fact that this government has failed woefully. It is glaring that the situation will only get worse if nothing is done to stop these negative trends.... This is what matters to Nigerians and not your idealistic excuses you keep making in defence of the incompetent government.... It is the government's responsibility to use the nation's resouces in a responsible way to solve these problems, the people should not be blamed or be subjected to an unprecedented, unimaginable economic crisis over the failures of those in government. Let Tinubu dissolve his government if his only response to tackling Nigeria's problems is to sustain the harsh policies of floating the Naira and removing subsidy without fixing atleast one National refinery or cutting down his bloated government's inflated frivolous spending spree.....

Above all, I am glad you will be in Nigeria to face the consequences of the actions of this bad government you love to defend....

nairalanda1:
The funny thing about this thread is that all those attacking me for my stance on subsidy removal are essentially saying one thing.

What they avoid talking about is how the money for subsidy would be found.

Yes, let's cut government spending. At best it would raise 5 trillion naira.

Plus, if we did not buy the yacht for frog eyes, build the new house for his sidekick the suspicious northerner, and buy new cars for the 300 and something thieves , as well as remove budget padding, all it would yield won't be up to 5-6 trillion, meanwhile we need something like 17-25 trillion for subsides to get fuel to N200 per liter. (Assuming no smuggling, assuming Customs wakes up and does it job properly.)

And at the end, we get a deficit that has to be filled in, with more loans.

So, either we forget about subsides for now or we pay heavy duty tax to keep the subsidy in place.

When it comes to spending money that will benefit the people, you like those in government will give several excuses why it is not possible but when it comes to spending on frivolities and looting, the issue of no money will suddenly disappear.... Fuel subsidy remains one of the major policies Nigerians benefited from government over the years..... Fuel is now over N1200 per litre, transport fare continue to rise on a daily basis, we will see how it goes by this time next year.... I am not worked up or yelling as you may presume, only stating the obvious as no one benefits in a dead economy.... You will not escape the consequences....

nairalanda1:
Well, I am not opposed to subsides, but funding them would require a major increase in our government's income which in the short term would come from taxation, which people like you oppose because apparently it is a sign the world bank is sucking our blood or something.


At the end, it does cost money to refine and produce a liter of fuel. Subsidising it has to take that into account. Getting worked up and yelling at me does not change that fact.

Good morning.

As I said you will continue to parrot the official narrative to justify the terrible situation that Nigerians are going through over high cost of energy as you will never proffer any reforms to address the looting, corruption and incompetence of government in fixing the national refineries. If you are in Nigeria be prepared for the eventual collapse of the economy over these policies you continue to support.... You stylishly ignored where I stated in my post that fuel subsidy is not perpetual exercise. I am of the opinion that subsidy program should be an exercise done in the interim to stabilize a fragile economy. Why are you not in support of fixing the nation's refinery as a precondition before subsidy removal? Is that not common sense? I did not say fuel can be refined at N200 or whatever you are insinuating as it can not be refined at that amount now but subsidy kept the price of fuel below N200 for over 10 years under successive governments. The APC government starting with Buhari regime would've during this period fixed atleast one national refinery as part of the process to transition away from subsidy payments but they failed to do that.... You can not justify and blame Nigerians for the failure of the government..... As I said in my previous post you will rest finally when Nigeria's economy is totally destroyed over these ill planned and executed anti people policies.... Without subsidy, fuel price may be above N2000 per litre by this time next year as no one will be spared from the consequences of allowing corrupt greedy "market forces" to control price of fuel in a terrible economy.... Since you want fuel to be sold at it's true value without considering the long term devastating impact it will cause as a result of the hasty way government implemented the subsidy removal and floated the Naira, I am glad that you are in Nigeria and will not escape the consequences when fuel price hits above N2000 per litre....

nairalanda1:
It still does not change the fact that a liter of fuel cannot be refined below 200 naira

It is a cold fact that things cost money. You neednt get angry or worked up over the matter. Such is life

https://www.youtube.com/watch?v=xHH5b4-_Icw

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Read the Full FREE PDF "Escaping the Maze" here:

https://drive.proton.me/urls/M2ADCKGT60#i17MPT9u7pOn

I hope Tinubu and his government are prepared for impending chaos these harsh policies will cause in due time....

You are always quick to attack threads on Nairaland pushing for fuel subsidy but you will never proffer solutions or promote reforms that will tackle corruption and hold the government accountable. Ofcourse it cost money to refine crude oil but there must be competitive advantage as Nigeria has crude oil as a natural resource.... For a fragile economy as Nigeria that depends on fuel for most of it's productive sectors, subsidizing fuel to stabilize the economy is not a waste. It is common sense that removing subsidy without fixing any of the national refineries is an invitation to economic crisis as you can see today.... How do you think Nigeria's economy will recover from the massive losses as a result of removing fuel subsidy? Are Nigerians better off as regards the rapid drop in purchasing power and unemployment due to high cost of production?

You keep defending this fraudulent government policies and pushing the official narrative about the nation's budget as been a constraint to continuing the fuel subsidy program but you will never talk about the bloated spending on frivolities by the same politicians making these excuses. What did the government do with the savings made from subsidy removal?

I am not saying that fuel subsidy should be done perpetually but there should be certain conditions that should be achieved by the government before discontinuing the subsidy program, one of such conditions is fixing the nation's refineries.

Even if we are to go by your submission and fuel price hits N2000 per litre, who will buy it at that rate? How many Nigerians can afford to eat 3 times a day? You are already biased in your opinion because you do not factor in the mismanagement, corruption and looting been done by those in government, you seem to derive joy in the crisis Nigerians are going through over these harsh policies. There is no advanced developing nation's government that does not provide some kind of subsidy to it's citizens.... You will continue to parrot the official narrative until fuel hits N5000 per litre and Nigeria's economy is totally destroyed over these harsh policies, maybe that is when you @nairalanda1 will finally rest from pushing propaganda on Nairaland....

nairalanda1:
It's like the op, and most nairalanders do not get why we cannot afford subsidy anymore.

For starters, it costs a lot of money to refine crude into petrol, and yet, at the end of the day, people want cheap fuel because 'economy hard'

Well, if we want crude to be 200 naira per liter, that means that for every liter, government would pay at least 800 naira. Assuming a fuel consumption rate of 60 million liters a day, that's about 48 billion naira a day, which equates to about 17 trillion naira a year.

Well, I haven't included transport costs...so including them could lead to something like 20-25 trillion a year....to be spent on subsidies.

Remind me what our budget for this year was...35 trillion. 20 trillon of that would go on subsidy to get cheap fuel.

At the end, we would have to take a loan of at least 20 trillion naira per annum to pay for the deficit that results from subsidy. That is on top of the loans that we are still paying off.

You know what that meas for our economy.

Oh, and the above calculations assumes there is no smuggling. With smuggling, consumption goes as high as 90 million liters per day. I don't want to calculate the cost implications.






I know people have abused me, and called me names, but with the above cost implication of manitaining subsides as they were in Jan 2023, I doubt that we would want to go back to those days.

The fact is, Dangote is a businessman, and he took loans to build that his refinery. He cannot sell fuel to you at 200 naira per liter and expect to have a working refinery in five years. Remember he has to pay loans, pay his workers an internationally competitive wage, and pay for maintenance and upgrades if neccesary, and also still pay taxes. (Even if he is being forgiven tax on the refinery, his workers still have to pay tax out of their salaries self.).

Infact selling fuel at a loss in the name of subsidy is why we lost 4 refineries, and went from 400000 bpd in 1987 to 92000 in 2012, to 6500 in 2019. (Same issue in Venezuela, whose largest refinery went from 900000 bpd, to 100000 bpd over 2-3 decades of subsides...and last I checked no NIgerians was running the country). Refining petrol is a venture that needs a profit to survive.


Yes, I believe that subsides are necessary. But the thing is, as our budget is, we cannot pay for subsides without borrowing and borrowing. I also have heard repeated comments that 'in saner climes they pay subsides'...when what they do is heavily tax incomes to pay for subsides that go to the poorest of the poor....or maybe they pay the refinery a production subsidy, which might reduce prices a bit...but by not much.


All in all, the era of cheap fuel is at an end.

This is only the beginning as Dangote will do more to futher monopolize and totally control the petroleum refining market.... Nigeria's economy can not survive these greedy "market forces", it can not survive the free floating of the Naira and subsidy removal policies of Tinubu....

OPICANTO2223:
Dangote,

Export crude gotten cheap from FG

Refine the crude oil and import back to Ng

Store is huge thank farms and sell at high price.

Is dangote a scam?. Yes yes yes and no, no. Please use your tongue to count your teeths. The zoological garden is doomed with Indians unrelenting in milking the zoo minerals

Earlier this year, like many other users in this platform, I was surprised by the news of NNPC increasing fuel price to over N1000 per litre even after promising a downward review of it's pricing template as a result of the new deal with Dangote refinery.

Reading several publications on the issues which includes

1. Naira for crude oil deal between Dangote and NNPCL with Dangote pushing for an exclusivity status (Monopoly) in the provision of petroleum products within the Nigerian market.

2. Oil marketers (IPMAN) agitation for a full implementation of the deregulation policy within the petroleum market to grant them direct access to buy from Dangote and sell at whatever price they want (Maximize Profit).

3. Nigerians bearing the burden of a harsh economy due to greedy market forces (Dangote and NNPC's greed) as a result of the astronomical increases in the price of fuel, diesel and other petroleum products.

I had made a post in another thread in which I maintained that Dangote's refinery will only exacerbate the problem if Dangote is allowed to operate as a monopoly. I had reiterated that the only way to ensure a downward review of petrol price was for the government to ensure that Nigeria's national refineries are operational to drive down price of fuel. Unfortunately, it is glaring that with the recent news of Dangote fixing his petrol price at N990 today, my prediction of fuel price going up to N1500 per litre by December will come to pass.

Based on the monopolistic tendencies of Dangote and how he operated in the cement market, when his refinery was launched last year, I knew that the dream of his refinery offering a cheaper fuel price was a mirage. As long as Dangote refinery remains the only big player in the Nigerian oil refining market and government does nothing to intervene, fuel price will continue to increase even beyond N1500 per litre because Dangote will milk his refinery's monopolistic status for all it's worth. It will not be surprising that by this time next year, fuel price will be N2000 per litre.

Dangote Refinery's monopolistic status need to be erased, this can only be achieved if the government is sincere about fixing Nigeria's national refineries as when the PH over 200,000 bpd, warri over 120,000-bpd refineries are operational and other big oil refining investors are supported to compete with Dangote refinery, it will guarantee a stable, competitive and affordable pricing of petroleum products within Nigeria.

The effects of current high price of fuel at over N1000 per litre is already been felt all over the country as prices of food, transport and services have risen astronomically and continues to rise unabated while Tinubu's government continues to play the ostrich towards the terrible state of Nigeria's economy as it has stubbornly refused to reverse any of it's harsh policies as it continues to push for a subsidy "free" market that is determined by "market forces" even when the critical infrastructure required to sustain such harsh policies are non existent. It is common sense that allowing "market forces" to dictate fuel price in a monopoly (Dangote Refinery) will certainly be a receipe for disaster as it means that fuel price can increase to N5000 per litre at anytime.

Fuel is central to Nigeria's economy, apart from transportation, small businesses rely on fuel to power generators and other productive activities. If Tinubu decides to allow the shady high pricing template of Dangote to continue to dictate fuel price in the name of market forces without providing any form of subsidy then Nigeria's economy may never recover as this volatility in pricing will lead to unprecedented devastation.....

It's been over 24 hours since the new pump price of N990 per litre was announced by Dangote, his price been an indirect increase to fuel price when you add profit and cost of marketers. One would've expected that Tinubu been the president and petroleum minister will react to allay the fears of Nigerians by addressing Nigerians on how his government plans to contain Dangote's monopolistic influence on petrol price, how he plans to resolve the incessant increases in fuel price but till now, Tinubu has remained silent, he has continued to disregard the plight of Nigerians with no shame. It is unfortunate that Tinubu has made no positive impact as head of the petroleum ministry, it is glaring that he has a hidden selfish interest to the shady high petrol price increases been orchestrated by Dangote and NNPC.

I've on several occasions made a call for the impeachment of Tinubu and the dissolution of this insincere government to save Nigeria's economy from further destruction because based on the dubious character of Tinubu and those running his government, he has proven severally that he has nothing good to offer Nigerians. These corrupt greedy "market forces" that led to the increase of fuel price to over N1200 per litre today, will increase it further to over N1500 per litre by December if Nigerians fold their arms and do nothing to checkmate Dangote, NNPC and hold the insentive government responsible.

NNPCL management need to be fired and prosecuted for sabotaging Nigeria's economy by their mismanagement and failure to revive Nigeria's national refineries over the years... Mele Kyari promised Nigerians when he assumed office in Buhari's first term that all refineries will be operational by 2019 which he failed to achieve. It is not surprising that Tinubu instead of relieving him of his duty, rewarded his incompetence by extending his tenure....

Nigerians need to take responsibility for the sorry state of the economy and massively protest these fuel price increases and other anti-people draconian policies implemented by this callous government. If Tinubu can not fix any of the national refineries to reduce the price of fuel, let him resign or be impeached to save the nation from impending doom.....

I had warned Nigerians earlier about Dangote's monopolistic agenda with his refinery.... It is now too late to cry..... Nigerians must hold this government accountable by agitating for the national refineries to be operational before December.... This is the only way out for Nigerians. If Tinubu and his callous government can not fix atleast one of the refineries to bring down the price of fuel, let him resign or be impeached to save the nation from impending doom.........

Keep seconding wickedness and foolishness, you will eat your words in due time...

N3TRAL:
Seconded.

Fvck the juvenile delinquents and their irresponsible guardians.

Foolish talk.... You will not escape the prayers made by these children against their oppressors....

odejimioflagos:
We have a President that understands the rule of law.

Let the law take its course.

Heartless fellow.... You will surely face the consequences in due time for supporting this evil callous government....

Corporate2020:
When are you starting your own protest? We will deal with you all mercilessly

There is nothing that you say will justify the evil and cruel actions of Tinubu and his government against these children and Nigerians.... You should be ashamed for even suggesting the arrest of their parents....

Shadomaan7:
The kids parents should be arrested too for allowing their underage kids to be part of the protest.

It is too late to ask about empathy as it is glaring that Tinubu has none, his callous government will destroy Nigeria totally if nothing is done to stop them.... it's a shame!

https://www.youtube.com/watch?v=nBeQF3GaPl0
Tinubu charges kids to court for treason after detaining them for 3 Months over #EndBadGovernance protest....

This shameful trial is an indication that there is no human rights in Nigeria.... It's pathetic, Nigeria is indeed a failed state....

If Nigerians allow the trial of these children to continue, the fine payment and their detention to be sustained over the callous actions of Tinubu and his evil government then majority of Nigerians are heartless people....

A federal high court in Abuja has granted bail of N10 million each to 72 defendants charged with participating in the nationwide #EndBadGovernance protests.

Presiding Judge Obiora Egwuatu stipulated that each defendant must secure two sureties in the same amount. One of the sureties must be a civil servant at grade level 15 or higher, with a verifiable address within the court’s jurisdiction, while the other must be a parent of the defendant.

The court had originally set the arraignment date for 76 defendants, most of whom are minors. During the proceedings, many of the children appeared ill and malnourished as they were called to take their pleas.

The court had originally set the arraignment date for 76 defendants, most of whom are minors. During the proceedings, many of the children appeared ill and malnourished as they were called to take their pleas.

Due to space constraints, some minors were forced to stand outside the designated area, while four of them collapsed and had to be urgently escorted from the courtroom, prompting the judge to temporarily suspend proceedings until order was restored.

When the session resumed, the prosecution according to TheCable, requested that the names of the four affected minors be removed from the charges. The remaining defendants were arraigned and pleaded not guilty.

The 76 individuals, arrested in Abuja, Kaduna, Gombe, Jos, Katsina, and Kano states, face charges of treason, among other offenses.

https://www.vanguardngr.com/2024/11/court-grants-n10m-bail-to-72-endbadgovernance-protesters/

This is only the beginning as Tinubu and his evil callous insensitive government will not stop until they kill all Nigerians and totally destroy the country..... To participate in protest is now officially a treasonous offence.... Human rights means nothing to this government.... It is left for Nigerians to remain foolish and do nothing or rally together and fight for their lives before it is too late.... Nigeria is ripe for a revolution.... it is time....

Nigeria is ripe for a revolution..... It is time....

I am not surprised because Tinubu and his evil callous insensitive government will not stop until they kill all Nigerians and totally destroy the country..... To participate in protest is now officially a treasonous offence.... Human rights means nothing to this government.... It is left for Nigerians to remain foolish and do nothing or rally together and fight for their lives before it is too late....

A minor, who is among 76 persons set to be arraigned by the Nigerian Police Force for participating in the recent EndBadGovernance protest that held across the country, on Friday, collapsed before the Federal High Court in Abuja.

The defendant who is barely 15 years old, slumped as the charge was about to be read to them by trial Justice Obiora Egwuatu.

The incident forced the judge to abruptly halt the proceedings and return to his chambers.

With the help of lawyers in the courtroom, the frail looking boy was rushed to the court’s clinic as his co-defendants, who are mostly minors, weep uncontrollably.

One of the counsel representing the defendants, Mr. Deji Adeyanju had earlier disclosed that the minors had spent over 80 days in police custody.

He revealed that the 76 defendants, who will be answering to a 10-count charge marked: FCH/ABJ/CS/503/2024, are among many others that were arrested in Abuja and Kano state during the protest

Specifically, police, in the charge that was signed by its team of lawyers led by DCP Simon Lough, SAN, alleged that the defendants, alongside others that are currently at large, had between July 31 and August 4, at Abuja and Kano metropolis, while acting in concert and with intent to destabilize Nigeria, conspired together to commit felony.

It alleged that the defendants committed treason, an offence contrary to Section 96 of the Penal Code and punishable under section 97 of the Code.

https://www.vanguardngr.com/2024/11/breaking-minor-faints-in-court-before-trial-for-participating-in-protest/

When Nigerians are ready to fix the country they know what to do....

WantsandMore:
interesting, I Agree . To the extent we politicize basic education and other basic human rights. It’s sickening