₦airaland Forum

nairalanda1:
And our debt from pegging the naira would have been higher than usual, and our debt servicing would be off the charts.

Again, by August 2022, we had a big problem. 90% OF Our revenue was going to debt servicing...so the naira had to be devalued eventually.

But even then, the value of naira has nothing to do with the debt NNPC owes. At the end, NNPC is losing money due to selling fuel below its market price, and government cannot pay the shortfall needed to cover the resulting loss.

Same problem even when the naira was 'better'.

Olaide1295:
How can a local refinery see N650? Landing cost is currently $0.9 per litre.
Best he can do is 0.85 cents (refining is a thin margin business, crude oil is the expensive raw material), retailers/filling stations will still add their margins.

Herkim:
Ighalo did and Man united signed him later.

Nbote:
We no kuku send again. Even the CBN has given up on trying to pad the naira. As you can see even Baba is tired



The fact that you belive some imaginary speculators apart from the govt are the ones manipulating the prices shows that some of your know absolutely nothing

FreeStuffsNG:
NNPCL is technically right. It's a form of protectionism that bars other players from profiting from the high pms prices globally in favor of the national oil company since the Russia-Ukraine War started. It is more of monopoly than subsidy regime because govt keeps paying full amount and no other company is given same incentive the FG is giving the NNPCL yet, unlike the era of subsidy regime, FG now doesn't forbid other companies from going overseas to import pms and sell at their own price more than the price FG wants NNPCL to sell the pms sourced from NNPCL.

May God bless Nigeria for ever! Check my signature for free stuffs!

heysquare:
Some Nigerians are just too stupid as they complain at any slightest issue! What exactly did they even want? We all know that where there's deregulation especially on imported products, the price lies on exchange rate. Definitely petroleum product price would be affected anytime the exchange goes up and the govt is now doing her best to sell at loss we are still complaining

nairalanda1:
When people lie, it is blody obvious

Shortfall is another word for subsidy, especially since the government pays off the shortfall.

But as we can see, government is struggling to pay the shortfall, and the result is the scarcity we see, since NNPC can't afford to import fuel again.

The way forward really is basically, GOVERNMENT LETS THE NNPC and everyone SELL FUEL AT N1300 and above per liter.

It's the only answer, otherwise, people, we will see the same mess and lying we have been seeing for generations. Infact, we have been TOLD REPEATEDLY since 1993, and especially in 2012, THAT THE SUBSIDY HAD TO GO.

IN 2012, GOVERNMENT even produced easy to understand propaganda adverts that explained the whole thing self. I remember, it woke me up. That and other comments.

But we have decieved ourselves into thinking that keeping subsidy is what protects us from inflation...meanwhile under subsidy, inflation is worsening. What else is new?


But most Nigerians from the ojota crowd to the obidents are only interested in using subsidy as a stick to beat the other side, while in their heart of hearts, they want fuel to sell at N40. It is cracy thinking, but there it is. Yesterday, people support one side, today, people support the other.

Most Nigerians live in sugarcandy land when it comes to subsidy. And if you tell them that it makes sense to sell petrol at a profit, the abuse starts.

Anyway, enough of playing with seven year olds who don't get basic capitalism.

DeLaRue:
It is not a personal property.

Future President's will use it.

A Nigerian President needs to be able to fly in a plane owned by Nigeria as and when needed.

People who say the prime ministers of some countries in Europe use commercial planes. Yes, but those countries airports and airlines are very well connected to other countries.

Nigeria airlines don't fly to many countries. I think Airpeace only flies to the UK.

So, what if Nigeria's President needs to travel to France, USA, Brazil etc? He should fly Air France, or United Airlines? What if those airlines are not available on the day he needs to fly?

Because the price of beans and garri is high, Nigeria should not buy an aeroplane? I disagree.

The Nigerian government can do both - buy the plane and continue to work to make life easier for citizens.

Jayhome24:
It surprises me when a fool.like you can't reason properly. You lack senses in absolute I swear.

So because it's Tinubu your nightmare in power anything is taken too personal like an idiot ba?

So are you hearing this rubbish presidential jets for the first time? Ever since obj it has always be like this presidential jets this presidential jets that, Gej era ame, Buhari time the worst 4 Jets bought at a go so why s it now new to you?

Our lean resources" you said ba? Pls when has Nigeri resource "FAT" tell me when last Nigeria resources was "FAT"?

Dey play, okwa ya?

Jayhome24:
Did you read the article at all? Read it again and again. If you read well this look like a conflict submission.

Akpabio said not yet purchased, Rep said it as be purchased. However, the truth is either purchased or not it belong to Nigeria and never Tinubu property, he could only use it for 8 year can't go beyond that, Buhari did same then buy Jets here and there but today where is Buhari? Was any of the jets given t him as a gift after his tenure? No...

morgstreme:
It can NEVER be as bad as under GEJ's regime...NEVER!

What Dieziani did with NNPC and the Ministry of Petroleum is UNMATCHED!!!

obonujoker:
https://saharareporters.com/2024/08/18/breaking-tinubus-new-n150billion-airbus-a330-presidential-jet-lands-abuja-airport

Honestey:
See? But we should organize protest to remove Tinubu when the real enemies lie elsewhere.
Why would someone with refinery in Nigeria buy from foreign supplier? Are they forcing him to buy at international market rate and perhaps in dollars?
The mumus who organized protest didn't outline the source of our economy problems, just like everyone without comprehensive knowledge of economy players, they just said face Abuja when governor's, ministers, senators have received enormous sum of money and busy buying dollars with them forcing dollar price up every day and the heads of petroleum at every stage are busy screwing everything and everyone all to keep getting richer at the expense of masses.

mustyNEMESIS:
In a democratic setting, numbers/majority matters a lot when it comes to electing political office holders.

Majority of Nigerians elected Tinubu. What makes you think that was the “biggest mistake”?

People have made their choices. A lot of people that voted him into power believes in him, and as such are still sticking with him.

“His debacle in Lagos”? Can you please tell us the exact debacle you talked about?

Of the 3 presidential candidates during the last presidential election, which of them is more qualified to occupy the seat?

If I could remember correctly, didn’t they all promise to end fuel subsidy?

Now, back to the tax topic. Don’t you pay taxes where you currently reside?

Can you also tell us what the federal minimum wage is in the country you reside?

While at it, make sure you also tell us the cost of goods and services…. And then let’s compare it with the earnings and cost of living in Nigeria.

Let’s all try to be constructive in our criticisms.

Bandirao:
why did you people are always quick to turn everything into tribalism and religious crises? So people cannot protests on their own again? Why do you see everything from religious lens, do you have a humanly feeling at all? If there is no hunger nobody will protests.

If north don't want a southerner to become a president did they can even vote tinubu in the first place?

ceejayluv:
9k average.... Which was half of the minimum wage then

haslaw:
If I ask you what is your family name now in Lagos you will start speaking in tongues. You that migrated from Ogbomosho or igboora to Lagos is telling a bonafide son of the soil from Epe to go to his state and protest, I've always said APC zombies are senseless.
This protest is not about Yakubu,Chinasa , Dele. This protest is about hunger and poverty in the land, any attempt by APC and her zombies to divide us on tribal lines will not work.





















Alex Otti is paying your fada 18K in Abia and is still owing many months of salaries yet it is Lagos that is paying over N70,000 without owing any month you want to protest.

Go home to the SE and protest for the sake of your fada

I am not a Lagosian but I fully support Lagos people that insist that let everyone go back to his state and protest.

Over N700 billion worth of infrastructure was destroyed under the pretext of protest. Same infrastructure that Abia, Imo, Enugu Anambra and Ebonyi all combined do not have.

Must IIGB0S protest in Lagos?
Why are IIGB0S hell bent on protesting in Lagos?
Do IIGB0S have a diabolical and sinister reason for desperately wanting to protest at all cost in Lagos?
The worst governors in the history of Nigeria are in SE yet IIGB0S are not making efforts to protest in the SE
IIGB0S have not protested Monday sit-at-home that has been going on for years yet want to protest in Lagos
IIGB0S have not protested the wanton killings by IP0B and UGM yet are desperate to protest in Lagos



This protest is just another ploy for Chinasa/Charlyboy/IP0B/0BIDIENTS to burn down Lagos

FreeStuffsNG:
The Senate is perfectly in order.

The money doesn't belong to the banks!! It's money created by the CBN's unification of the forex in both official and parallel markets.

May God bless Nigeria for ever! Check my signature for free stuffs!

Tayorshd87:
I tire woke are so dump they don't understand anything at all ..

They hardly reach and understand the situation on ground ..


They are still saying tinubu is a thiev this and fraudluent BLA BLA BLA and I ask d fool if he totally remove d subsidy by not paying for any money at d backdoor again so d masses can buy at 1179 per liter 🤔

LegendHero:
He handed $35b with over $7bn backlog that Tinubu had to clear.

oneMalik:
i dont bliv in warning at all !

when the careless protest start , let the shooting also start simultaneously .

i never see where govt deh grow foods for the citizens b4 .

TOKUNBOGOODIES:
I think sey na only for Naija wey peope dey do such

e be like American own go worst pass oh 🇳🇬✅🚶🚶🚶

https://www.theguardian.com/us-news/gallery/2024/jul/18/donald-trump-fans-wear-bandages-on-ears-to-show-support-in-pictures

Codes151:
os it Tinubu that printed billions of naira to cover debts and cause this massive inflation?

Una just they wail but una no fit get sense.

Is it Tinubu that closed borders?

Is it Tinubu that sold dollars at cbn rate to rich northerners?

Una no Dey get sense sha.

Only thing Tinubu has done is try to remove the fraud called subsidy. What is subsidy? Understand that and you will know that removing subsidy has nothing to do with economy but petroleum products.

Not even up to a year. No let anyvondy deceive you o. Unless otherwise your a Northerner you can wail and pretend you don’t know the big fool in daura

RoyalBlu:
You can just imagine!

When we say the retailers are one of the problems we're having in this economic crisis, this is one of the evidence.

kunle4toyeyaho:
You sound so uncouth with your use of words. An untrained child like you would always behave as one.Anyways,Nigeria cannot afford fuel subsidy anymore. This is evident in 2023 appropriation Act in which provision for subsidy payment covered only 6months. So, are you saying he should continue borrowing money to pay Subsidy? If the subsidy removal is not beneficial,why has successive governments attempted to remove it right from the days of GEJ?

NewHe:
Students! Students! What do you guys understand with fuel subsidy removal ?
Government no longer paying for your fuel consumption, period!
If fuel is not available or comes cheap, then go for CNG, ELECTRIC,SOLAR ETC.

kunle4toyeyaho:
I doubt it. The allocation being given to the tiers of government has geometrically increased.The neighboring countries like Cameroon,Niger, Republic of Benin have stopped enjoying our common wealth.
Subsidy removal is not the problem,'floatation' of Naira is what made things harder. Even at that,Tinubu had no option than to float Naira.

Toluwanise247:
Hunger has been in the land since 2000, the rate is increasing in last 10 years

Sonnobax15:

No be only distraction....

In fact,na refraction and erection

All of a sudden,they now know there's hunger in the land simply because supreme court removed food from their hands

Werey people.

esemes256:
America did not take the oil from Nigeria.
US WTI is a slightly different type of oil compared to Nigeria's bonny light. Nigeria's own is of higher quality and more expensive in the international market. Dangote is likely purchasing the US WTI because it is cheaper than Nigeria's oil and secondly, there is not enough supply of Nigeria's oil because a good portion has been used to secure loans.

hkidola00:
the Copa America consists of weak teams and maybe 3 serious teams,imagine Canada playing semi final,Canada that won't qualify for euro is playing semi final...as tough as euro is,haalands and odegaard Norway couldn't qualify....you think if Portugal plays Copa America,they won't have had up to 5 trophy,that's why I'm saying Messi is below par in international

Islie:
https://www.vanguardngr.com/2024/07/just-in-food-prices-to-crash-in-180-days-agric-minister/