₦airaland Forum

HydraFeeds:
i wanted to report your comment for abuse buy I think you deserve a response .

Only blind people will see what's in front of them but chose to ignore because of sentiments.

Do you want the government to keep borrowing money to defend the naira and to subsidise petrol or you want the situation to flow naturally while the loans to defend naira and fuel subsidy is relieved?

It's also a fool that will think removing subsidy and floating naira won't have immediate consequences. It's after the consequences that the situation will balance .

HydraFeeds:
Another gas lighting ,as you came from Netherlands to vote your preferred candidate,so did others came from different countries to vote for the current government.

Talking about the current hardship ,I believe Nigeria is being reset .

Paulyaweh:
Where are we heading to.

This is getting crazy


Just a month after the last increase.
https://www.nairaland.com/8202832/nnpc-retail-outlet-adjusts-pump


I wonder how much other marketers will be selling now and how much it'll get to outside lagos.




https://www.google.com/amp/s/www.channelstv.com/2024/10/09/nnpcl-sells-petrol-at-%25E2%2582%25A6998-per-litre-in-lagos-%25E2%2582%25A61030-in-fct/amp/%3futm_source=webpush&utm_medium=push&utm_campaign=NNPCL%2bSells%2bPetrol%2bAt%2b%25E2%2582%25A6998%2bPer%2bLitre%2bIn%2bLagos,%2b%25E2%2582%25A61030%2bIn%2bFCT

kenn4rill:
https://dailypost.ng/2024/10/09/again-nnpcl-increases-fuel-pump-price/#:~:text=The%20Nigerian%20National%20Petroleum%20Company,outlets%20in%20Abuja%20on%20Wednesday.

Man102:
BREAKING: Tinubu initiates National Youth Conference to interact with young Nigerians




Source : https://politicsnigeria.com/breaking-tinubu-initiates-national-youth-conference-to-interact-with-young-nigerians/

emkz:
One of the highlights of his speech was when he spoke of a national youth confab for the youth to come together and harness their needs and interests which shall be considered.

The future is for the youth. Instead of always attacking the government, I encourage all the youth to take advantage of this and propose solutions to existential problems.

Few days ago, I had even suggested something along these lines.


On this note, I'd like to plead with Nairaland Moderators to create threads for different topics concerning national development. Let Nairalanders contribute/debate actively on those threads. Anyone who has nothing to contribute and deploys insults should have their comments suppressed.

SarakiBukola:


Much Ado About Nothing.

Prison worldwide is a very terrible place.

Sodomy ( male rape) is far more common than you would know.

Stephen King's Shaw shank Redemption described it very well. Some inmates are such bullies they prefer you fight so that they beat you before raping you. For resisting you might have to swallow a lot of yogurt and extra guys on the line.

You want Bobrisky to be gangraped and passed around ?

Pray never to find yourself there. There was a Dr in Benue who mocked a PDP supporter that he stitched the PDP's guy's anus when he was raped in jail.

helinues:
Toh

Reality dawning. If you don't want to borrow unnecessarily, then it's time to raise the tax

Modified: Make una no attack my comments , suggest another means of generating new income( projects money , expenditures) without taxing and borrowing

9jatriot:
Okay, now go and check those countries if their interest rate is higher or lower than their inflation rate, then you would begin to understand why and what the CBN is trying to do when the interest rate is increased.

Candidlady:
Yes he would listen... He is like a father.. all we need is just patience


Rome wasn't built in a day

nairalanda1:
All in all, we should have removed the subsidy on power, make everyone pay for power at market price, and there would be massive improvement in power supply.


We get bad power because we don't pay for power in full. Even now

1. Most Nigerians do not pay the market price for power

2. 40% of Nigerians , if not more, don't pay for power at all.

Run your business that way, and you would lose money well well

The above is why we do not have constant power supply. And why we have shitty power. And why we have blackouts.

Plus, with debt service rising again, government can't afford subsides for power.

But most of you don't want to hear the truth....so we will blame corruption, the Hausas, tinubu, gej, buhari, the army, etc etc.

Tomorrow we will cheer for the guy who chases nepa people from disconetctin him....a big part of the problem.


Modifed

I love the tears of rage of the people who throw tantrums at the above posts...yes all of you.

NO matter how angry you are...electricity costs money to generate and transmit.

Also, the cost of things do not respect your feelings, or mine.

Suck it up, buttercups.

Modifed 2

Google for 'Solving the Liquidity crunch in the power sector. It answers all your questions..

meglith1:
https://www.vanguardngr.com/2024/09/breaking-apcs-okpebholo-wins-edo-governorship-election/

nairalanda1:
Our fuel needs are about 60 million liters per day. Dangote can do 25 million liters per day.

Until we get more refineries, importation is going to continue.

And the way to get more refineries is to in essence remove fuel subsidy and let the market control the pricing of fuel

post=132080599:
Source: https://www.vanguardngr.com/2024/09/naira-down-to-n1650-in-parallel-market/

adenigga:
Source: https://punchng.com/20-govs-borrow-fresh-N446bn-as-revenues-tumble

chidiokay:
Bro you are not close to intelligence as you think, Now the assumption that Forex low demand and a re-alignment in balance of trade will boost earning is as Factual as 1 × 1 = 1, the fact that Nigeria/govt undermines the effect with lies & corruption does not change what is "right"
Dangote export of diesel & aviation fuel is not adequate enough to trigger a turn around, besides dangote is having challenges selling this product

Balance in trade is key here, what is the volume of diesel & aviation fuel exported compared to volume of refined PMS we import .. see the gap naw

Over 60% of our forex goes into importation of PMS .. imagine that stops are you saying the ripple effect wont strengthen the economy/naira

That dangote is private does not undermine GDP .. try understudy what is GDP ?? olodo
i take it that you have no basic knowledge of economics at all,. Jare

chidiokay:
Local refinery is suppose to ease the inflation, nothing wrong with our assertions, the problem is the dubious characters we have to deal with.

However, whatever inflation the dangote might reflect is temporary and on a short term under a normal clime,
the Naira deal hopefully should crash high demand for dollar, a drop in demand should strengthen the Naira ,
Also the export of Dangote pms is a huge plus to our GDP and surplus to our forex earnings, the ripple effect strengthens the naira

Overtime , Maybe Nigerians we feel that relief we need and longed for, thats if they let it be

Salewa97:
The price of petrol in Nigeria is still one of the lowest in the world.

The only difference is that we are not subsidizing it for now which is not a bad thing.

The money that would have been used for subsidy is being channeled into infrastructure development

nairalanda1:
We are rich in resources , but poor because we do not use those resources to make stuff the world needs

Really do I have to spell it out to you guys.?

Rich countries use limited resources to make sutff people need. Poor countries just sell raw materials and import stuff made from those same materials at inflated prices


South Korea, Japan and china learned that trick, otherwise they would have been poor broke ass nations by now. Infact people used to jakpa from those countries in large numbers. Now they don't.

cr7lomo:
Exactly... if Euros were that easy to win, why has Germany or France not been able to win it in over 2 decades ...but have both won world cups with the last 10 yrs ... England has never won it , despite being world champion... it took Italy over 40yrs to win it again... its even harder than the world cup ... France played back to back World cup final... but cudnt pass semis in the last 2 euros ... the reason world cup is even easier is because they limit number of teams in Europe and replace then with weak nations in other continents

Lithiumite:
You pay more for owning private cars as against public transport.....if fuel isn't taxed and too affordable it would lead to misuse and waste.....many people are now adjusting to using public transport and ride sharing also work from home initiatives are being introduced across various organisations which as been been proven not to diminish productivity at all.

Noisy generators use in residential areas are on the decrease and power is slightly improved......their is far more efficient use of energy now and transport infrastructure which is a good thing.

The rice initiative if the govt though not the best approach is just a stop gap till we are able to improve on our food production.

Lithiumite:
If prices of staple food can come down inflation itself would come down.....make food available to the people in abundance then tax other secondary needs properly such as petrol,private cars, alcohol and luxury items tax the rich heavily to sustain the poor!!

DeLaRue:
Nigeria - big, strong, and powerful.

China measures the extent of it ceremonial welcome very carefully.

This level of welcome is reserved for governments it holds in the highest regard.

Foreign countries and institutions are not stupid. They know Mr Tinubu's economic reforms are the key to turbo charging this giant called Nigeria.

Removal of subsidy has been welcome by IMF, World Bank, UK, Europe, and most countries.

In the past they wondered how a country that needed infrastructure and development so desperately could be borrowing heavily to pay fuel subsidy. They looked at us from afar and shook their heads in silence, thinking, how stupid!

Did anyone notice that during the recent protests ambassadors of European countries in Nigeria issued a statement saying the government's reforms were necessary. It is very rare for these countries to intervene directly and openly like that to support an African government.

Nigerians, please let us remove this corrosive subsidy pata pata so the money can go into other areas.

In the past 10 years, this last 2 months have been the period when I have spent the least to fuel my generator. And I am not even in Band A. It means electricity is improving. Other things will improve too in due course.

Let's persevere in the short term, and I hope the government can find quick, effective ways to help those that are most affected by the current hardship.

This is our opportunity to make changes that previous government should have made. We must not waste this opportunity.

The reason other Presidents did not make these changes was because they knew they would be very unpopular. Mr Tinubu knows this too, but he is putting the interest of the country first. He has said if he is not re-elected, he doesn't mind as long as these essential changes are made.

What more can you ask of a leader?
This zombie is still in his own chains while a lot of his fellow members are already liberating themselves.
My people always say Saturday that will be good , you will know it by Friday hence I am wondering the indices you are seeing that makes you believe your tomorrow will be better by Tinubu.
Better wake of from your slumber cos this is Tinubus best, his worst is yet to come zombie.

nairalanda1:
Well the only way to raise money for subsides is by heavy duty taxation which might raise some sufficient funding

Or you force the refineries to refine substandard fuel which would damage our cars and pollute the air even more but reduce subsidy costs

Or you use your budget and pay for subsides and fund other things via loans.


Or you do the simple thing, remove subsidy and allow private money and investment to improve things.

Thinking outside the box takes time, meanwhile 4 decades of subsidy has ruined our economy badly, among other things

nairalanda1:
The problem with retaining subsidy is that our deficit and debt will keep rising

nairalanda1:
It does not matter who is in charge.

Since the 1980's they have been telling NIgerians to remove subsidy, that it is costing too much money, etc. And everytime, Nigerian leaders and people have said no, and we have even abused IMF finish.

Over time, the strain and stress in keeping subsidy has led to this situation. We kept on accumulating debt, meanwhile lack of proftiablity of domestic refining led to our refineries breaking down. Then came the usual corruption because free money, and the usual looting. Smuggling intensified...plus no one until recently wanted to invest in domestic refining because subsidy in essence meant selling at a loss

What we have here is the end result of keeping an unstuatinable policy. If we had voted in obi...it won't have changed anything.

Because by August 2022, we were using 90% of our revenue to service debts. Infact, by 2021, some governors were crying that there was already no money for day to day activities

I am not defending tinubu, I even blame him for the mess we have now , and in a way, karma is dealing with him. But anyone who thinks that we were not going to reach this point...when the warning signs have been there for decades.....better wipe their eyes and see again


All in all, in 2012, we should have removed this subsidy, and have been done with it. But most of you were complaining then, and hailing the OJota people. Including tinubu and buhari. Buhari took over and used our limited money to keep fuel cheap...and made the debt matter worse even. Now here we are forced to take a decision that should have been taken...as I said,...eons ago.


Forget religion. What I know is, in 2022, we were in a shitty state...and something had to give. Looks like it is the fuel subsidy.

Because if we had kept fuel at N65 to date, the kind of deficit and debt we would have had would have been ginormous.

CyrusVI:
He's talking from the angle of reduction of pressure on the FX demands, no turn am to fight


40% is a whole lot...it means by Nov 2024, we would have been relieved of all this pains

I like Visionary leaders
God bless PBAT and Dangote

advocatejare:
Must you bring Peter Obi into everything?
What magic could he have performed too, didn’t we see how he governed anambra and turned it into New York 😆?

Olaide1295:
The 450k bpd local one is still going to be sold at international prices.
If a refiner buy at international price (even if paying the naira equivalent), then the pms will still come to about 1200/Litre.