₦airaland Forum

Kobonaire234:
If we want an end to scarcity then we have to remove subsidy.

The biggest mistake any government can make is to 'regulate prices'. We have been regulating prices of petrol since 1973, and in the process we have gone from having 2-3 working refineries to 4 and now to none.

Inherent in subsidisng fuel is the idea that we can sell fuel below the production cost and then pay off the resulting loss via subsidy. As we can see that is not possible. To even run refineries effectively, we need them to make a profit.....which means a refinery is allowed to sell fuel in a way that it can make a profit to pay off the supplier of crude, and its maintenance and upgrade costs, and the marketer is allowed to sell fuel in a way that enables it to pay off its transport costs, the refinery, its supplier. And all have to pay the government its due.

Subsidy does not help the poor. In 2021...it cost N261 to bring in one liter of fuel. Now as at November it was costing N510. The official price of the petrol jumped from N165 to now N179. And we somehow expect to keep it magically that low.?

Nigeria has wrecked our refineries at home because we could not let them produce at a profit....this is the extent of government mismanagement. Government did not let the refineries make a profit. Government over the years prefers to use a large and larger amount of the budget to pay off subsides...because it has no other way of helping the poor that Nigerians like.

The poor are helped in 'sane societies' by heavy taxation, and tax to gdp ratios that are as high as 40-50%...which pay for the welfare of most of the poor. In Nigeria, we do the paying by blanket subsidies, and by cutting prices of petrol. As a result, we end up taking a large chunk of our budget to pay for subsides...because government cannot control the production cost of petrol...whether in or out of Nigeria....and we take loans to cover our asses.


Until subsidy goes....there is going to be scarcity. You cannot bring in fuel at N510 and sell at N180. You cannot refine fuel in Nigeria above N250, and sell it at N180. Petrol, like the phones and rice and stuff you buy...costs money.


Thanks for listening to my TED talk on subsides.

clinician2x:
You help the poor by taking them heavily you're saying?

Everything you wrote here shows you have zero understanding of the Nigeria problem

When you eliminate fuel subsidy what happens? You sell petrol to about 1k a litre and the cost of everything grows exponentially and salary remains the same. Will the increase in fuel pump price cause an increase in salary to male people afford basic things, if you say the answer is yes, you are a fool.

Subsidy must stay. The problem of nigeria is not subsidy, it is corruption. Even the money they pay on subsidy is not accounted for, it is bogus figures daily. The same way the subsidy situation is handled with zero transparency is still how it will be mismanaged when you remove subsidy.

Subsidy is healthy in all economy. The tuition fee paid by Canadian citizens is far less than what immigrant with student visa pay and it's subsidy in place. You cannot help the poor through taxation, u help them through subsidizing their basic needs. Until Nigeria fix electricity issue to cut dependence on fuel, removing subsidy will be disastrous on the masses.

Millions of Nigerians are poor, million others spend 60% of their monthly salary on transportation to work. When you remove the subsidy they will spend 120% on transportation because the salary will never grow, companies will shut down or even downsize and millions of others will be thrown into misery.

Majority of Nigerians lack functional brains.

HomeTutorsPro:
Anotheeeeer...
Banga!!!!
The man though.
Why not take both of 'em out?
At least she'll get to show whether she'll be a good step mum or not.
Seriously, I don't blame the lady. It's a sign that she'll be struggling for the man's attention if they eventually get married.
The man is supposed to make the lady bond with the little girl, especially during Christmas, and not leave her behind to go out with his daughter alone.
Maybe there's something about the lady he did not include in this story.

Kobonaire234:
That's largely because of enviromental taxes, and the regulations that go into their refineries construction..again environment..plus most of them are not oil producers.

And as you said, cheaper labor (That's why some european workers and african workers can have the same level of living despite the Europen earning on paper higher salary)



More like a catch 22

Keep subsidy, and the budget deficit rises...meaning more loans

Remove subsidy and there would be economic issues

Either way, bad news. Why I back removal of subsidy is long term benefits...but long term benefits are not what people want to hear.



The refineries don't work because the subsidy regime means they sell fuel at a loss...plus free money...which means that they can be sabotaged...and the money will still come in.

Meanwhile, our GSM companies work well because government does not set a price for them, meaning that they can make a profit to buy and maintain their facilites. And sabotage won't happen because if it does, they lose money(NNPC if sabotage happens, government just pours in money...).

Sell fuel at a profit, and the refineries would work...especially since there is no subsidy money coming in. No free money...the incentive would be there to make the refineries work.

Plus the profiteers will make far more profit, as would the foreign interests. Our government too would make more money.

Plus, we get more refineries. Since no subsidy means reifneries can make a profit...which means domestic refining makes more sense...and that ends Dangote monopoly.

The people get more jobs, more investment and critically eventually a stronger naira and lower prices

Kobonaire234:
Yeah I can't afford it most likely....but I also cannot afford the rising debt and budget deficits and corruption and looting , and loss of refining capacity with loss of jobs that come from keeping the subsidy either. I also don't enjoy paying for my fuel at IMF HQ...at the prices they dictate.

Infact, keeping the subsidy is more costly to me than paying N700 per liter.

The society that lives on subsidies and freebies, is always responsible for a corrupt governance.” ― Dr. Ashok Anand.

Your choice...N700 at the pump....or N1500 at IMF HQ.

Patrickker:
In 2019, i was the only person that voted him in my house. I knew he was repeating whether we vote him or not. Here we are today, Lessons learnt in a hard way... This time my father asked me, who am i voting, I smiled in satisfaction and told him Obi, he said, 'Obi, the way to go.'

BOLATINUBU01:
OKORO how is Malaysia this morning

diadem10:
Uselessss sabinu who couldn't make it in southeast until he came to Lagos. Most of these people are retard tbh.

fuckJones:
I know a man that have made People that served under him Great Leaders that served in all level of Govt.
He made Councillors, LG Chairman
He made House of Assembly Members And Governors
He made House of Representatives and Senators
He made Ministers & a Vice president

WHO IS HE?

CoronaVirusRelo:
The pot bellied and morbidly obese dwarf should be ignored!

Attention he is seeking and that he has gotten! Nothing more!

Islie:
https://healthwise.punchng.com/marathon-sex-may-cause-penis-fracture-impotence-urologists/

“This year alone, I have operated on four people who were having sex and their joysticks refused to come down.

CoronaVirusRelo:
If I called BAT a demigod and you still want me to explain, then it means you still won’t understand if I explain!

You should know their are two classes of humans on Earth. The ordinary and super humans.

After the creation of Earth, the super humans were made to administer all on it, except, “CREATING LIFE”

CoronaVirusRelo:
BAT is a demigod, not mere human.

CoronaVirusRelo:
Stop mentioning my prestigious name for no just cause.

adenigga:
Source: https:///Kukah-To-Buhari:-You’re-Leaving-Nigerians-Far-More-Worse-Than-You-Met-Them

PandoraObi:
He didn't get 8 figures from buhari, it is expected.

CoronaVirusRelo:
Why I always detest short people from being elected into leadership positions.

They are uncouth and mannerless when it comes to criticism.

Peterosky:
I thank God that Nigerians are beginning to be wise.These thieves and their CSOS are only wasting their time. Emefiele is very perfect on this monetary policy and he goes no where. This is the best time to be called a Nigerian.

Dialpad:
Where is the CBN governor?

Yankiss:
She is pretty but why am I seeing white pant there? Ladies are best when properly covered. No one likes uncovered food no matter how delicious.

ahnie:
She's pretty

membranus:
Your goats dey look sey which kin nonsense be dis.

Danisaint112:
This three off me.

What is aboki (a Muslim) doing with father Christmas outfit? Abi the guy just dey play?

Secondly, above all people why should father christmas be pounding yam?

Lastsly, is that a father Christmas with a plastic butt ? He is beginning to look like some of our Nigeria female celebrities.

I no call name ooo and if you quote me for names you will sleep here till New year

Merry Christmas to you all! ❣️

awosejo1955:
In NIGERIA, our politicians are busy wearing the garment of corruption and embezzlement claiming Jagagban!!

hergists:
Christmas is a special holiday for many people around the world because it is a time of celebration, family, and giving.

Many people observe Christmas by participating in religious ceremonies, exchanging gifts, and spending time with loved ones.

Christmas is a time to reflect on the year that has passed and to look forward to the year ahead. For many people, Christmas is a time of joy and happiness, and it is a time to come together with friends and family to celebrate and share in the holiday spirit.

virginprincess:
Nigeria men and their nonsense attitude,it very common among most Nigeria men,she did well by letting go of their friendship before will have his way with her one day then tag her a hoe after that.

Saywhat10:
Someone on this forum said she will pop out some days after her ex celebrated his wedding anniversary....

LordviccoDaGuru:
Tell me one reasonable person in ur fa____mily who's a gratuate?

Buhari graduated from Cambridge University why Tinubu graduated from Chicago University then Pandemic Obituary has GCE from Anambra college of Education

LeoDeKing:
He has done it as Lagos state governor.

He will do it as a president.

Lagos is greater than all 5 SE states and 13 states in the North combined.

Nigerians have no doubt in his ability.

One of the contestants was the governor of one of the SE states. As I type, he has ran away from the state he had governed for 8 years. Guess where he resides. Lagos state.

Another name for that is FAILURE.

God forbid he gets close to our presidency.

siofra:
I remember what an Igbo guy was telling me about this foodstuff business, and I wept. From reducing the quantity of rice in a bag and selling it at a ridiculous price to selling fake foodstuff.
Nigerian men are very wicked sha!