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Politics › Re: Fuel Price Hike: Nigerian System Believes In Suffering The Masses – Ben Bruce by COMPAQ(m): 2:36pm On Mar 12, 2021

Godarz:
Okay, fuel prices goes up to N500 per liter today....

1.Profits get made

2.Refienrey licencess promptly get working on their refinereis to take advatage of the profits being made, In 20 years we have ten big refienreis and more modular refienres, and lotsa jobs.

3.As a result of increased production from the new refienreis, we end up being a major exporter of fuel

4.And we end up with more jobs

5.Plus prices of fuel drop to N200 and below in five years time...because competiton.

6.Government saves money and invests in railway transport to reduce costs of transporitng fuel. NNPC now privatised has profits to invest in extending its pipelines, and as a result transport cost of fuel goes down..reducing prices.

In 2001, a sim cost N10000, by 2005 that sim was down to N1000....because the GSM people were allowed to make the profits needed to build this new IT backbone we have. Why not for fuel?

Don't be too pessimistic. We wasted N4 trillion between 2010 to 15...4 trillion that could have gone to the masses .....because of keeping fuel at N97 to N87.

Again good analysis. Rather than waste the money on subsidy, it could also have gone into education.

Subsidy will never elevate a poor man out of poverty, but a good education can!!

In fact, the ONLY thing I would subsidize in the country if I were to be in charge is education! Because a well educated mind is the foundation of resolving sooo many issues in health, environment, politics, economy, etc. A well educated person makes better choices regarding his health, so health costs would actually go down. A well educated mind would appreciate that selling his vote for N500 makes no sense. A well educated mind knows that plastic and other forms of polution is an issue and would not bring his dustbin out to throw in the gutter during heavy rain.

1 Like

Politics › Re: How Kidnappers Gained Entry To College Of Forestry Kaduna (Photo) by COMPAQ(m): 2:23pm On Mar 12, 2021

IfGodbeforus:
Wonderful!!So over 100 humans beings were ferried through this hole .Political leaders, let us stop these arrangee kidnap and nonsense.

How long does it take 100 people to go through that? You never see boys break fence for boarding school?

Politics › Re: Fuel Price Hike: Nigerian System Believes In Suffering The Masses – Ben Bruce by COMPAQ(m): 2:11pm On Mar 12, 2021

Godarz:
And the problem with subsidizing fuel is that in order to keep prices low, we have spent a lot of our revenue and gotten into debt which rebounds on the same masses.

Subsidizing fuel has also meant not enough cash to keep refineries running, plus who wants to come and invest in refineries in a country where you are not sure of making a profit because government subsidizes fuel?..meaning prices are too low to make a profit at the end.

Nigeria also does not have a high enough tax to gdp ratio to run a welfare state.(Canada subsides fuel, and they also have a high tax to gdp ratio of 33% compared to our 6.1%..and even then fuel costs N400 per liter in Canada...). Instead we rely on oil income which isn't enough for all of us even on a good price of $130 per barrel.

Godarz, I must commend you for continuing to educate the people on why we need to swallow this bitter pill. As they say the best time would have been 20years ago, but the next best time is now. Imagine what Nigeria has lost since when Obasanjo privatized refineries in early 2007, only for YarAdua to reverse it. Or think how much progress Nigeria would have made if we had never been in this subsidy rubbish from the 80's.

Most Nigerians are not thinking straight because of their pockets - and I get it!! But as an accountant and economist, I can rationalize that the long term costs (direct and indirect) of maintaining this subsidy are far greater than keeping it. It is a bitter pill we must swallow! We must understand the Nigerian situation and fashion out what works for us. What other countries can do, Nigeria may not be able to afford.

What gives me hope though is that if we have committed, intellectual leaders, Nigeria can be made to work reasonably well in say 20years. Countries like Vietnam, Malaysia, Brazil etc have done it.

Rather than continue to fight for cheap petrol, isn't it better to fight for an extra N10k per month for all workers salaries below N50k per month, N5 for workers between N50k per month and N100k and nothing for N100k and above, to cushion the effects and let the private sector led, market driven price mechanism take over, similar to Diesel?

Alternatively, PAYE taxes can be reduced to release more money to workers.

Anything is a better solution compared to keeping the subsidy.

1 Like 1 Share

Politics › Re: Fuel Price Hike: Nigerian System Believes In Suffering The Masses – Ben Bruce by COMPAQ(m): 1:45pm On Mar 12, 2021

iwaeda:
https://dailypost.ng/2021/03/12/fuel-price-nigerian-system-believes-in-suffering-the-masses-ben-bruce/?

https://mobile.twitter.com/benmurraybruce/status/1370277177510486017

What is Ben Bruce's solution?? That a relatively poor country like Nigeria with horrendous education, health and infrastructure statistics and a booming population continue to subsidize petrol for the upper middle class and their petrol guzzling SUV's??

Business › Re: Dangote Refinery Completes The Installation Of All 18 Transformers (Photos) by COMPAQ(m): 12:19pm On Mar 12, 2021

Thomthom:
What Nigeria government can not do... An individual did it.... Does it mean that our leaders does not have any plans before coming into government?

You have answered your own rhetorical question. The answer is NO, they had no plans other than to come and make money.

1 Like

Politics › Re: PPPRA Deletes N212 Per Litre Petrol Template From Website by COMPAQ(m): 12:14pm On Mar 12, 2021

Tonymegabush1:
Honestly Honestly

The inflation dey control nigeria mrkts one will.begin to wonder if at all we are implementing the right economic policy.

As of today 12/03/2021

On PmS:
Almost all fuel station In my vicinity is closed the few one that are open I don't know how much they are selling.

On cement:
Cement is 3100 for dangote, BUA is 3500 etc.. don't they want us to work? How can a builder afford such

If cement is N3.1k, then it has come down na. I recall a huge thread a few weeks ago where people were arguing about cement cost and then people were quoting N4.7k as the price.

On Capital tools:
The price you meet in the mrkt might change after few minutes each time you enter mrkt you will start hearing let me consult my (new price list) am still wondering.

On feeding:
Food stuff once fuel is affected everything follows suit..

There is a big prblm in this country even the blind man can see it.

NB.. don't say let's endure and pray to God. Let me ask all the countries that are progressing which one of them does Nigerians holy pass.

Politics › Re: Osinbajo: Healthcare May Become Fastest Growing Sector In Nigerian Economy by COMPAQ(m): 12:10pm On Mar 12, 2021

Lagos needs like 10 hospitals of the quality of Evercare facility to reduce medical tourism and give access to good healthcare (though the goal is to never be sick enough to require it sha)

If you have 1 around Chevron axis, the one on Admiralty, another in VI (say Adeola odeku), one in Yaba, one in Gbagada, one in Ikeja GRA, one in Ogba, one in Festa[/b]c, one in [b]Ketu, one in Ipaja, then at least all of Lagos will be pretty much covered.

Travel › Re: How Much Do You Spend Monthly Overseas? by COMPAQ(m): 11:57am On Mar 12, 2021

Commotfornigeri:
Well, my phone bill is $35. unlimited calls, unlimited text +5GB data.

Home internet is $50. Unlimited and 150mbps.

No cable. I use IPTV service and stream any channel i want to watch.

When i see people list all that stuff, I just wonder sha.

Guy, are you still using the T-Mobiles and ATT of this world.

That same unlimited talk and text with 5GB data costs $15per month on US mobile which oiggyback on those same networks. In case you are interested in saving $20. grin

https://www.usmobile.com/

1 Like

Celebrities › Re: Cristiano Ronaldo Earns €1m Per Goal At Juventus, Claims Ex President Giovanni by COMPAQ(m): 11:51am On Mar 12, 2021

WriterNig:
https://www.espn.com/soccer/juventus/story/4335130/juventus-must-free-ronaldo-after-champions-league-elimination-ex-president-cobolli-gigli

Never been a fan of clubs betting their future on a single player. No player deserves that amount of responsibility because football is a TEAM sport.

Health › Re: Governor Sanwo-Olu Unveils Evercare Hospital, Lekki (Photos) by COMPAQ(m): 10:46pm On Mar 11, 2021

esthel:
Hospital for the rich, beyond the means of the average lagosian. How people make huge profits from people's pain is still a mystery to me.

So by go and buy health insurance, be there complaining its for the rich.

1 Like

Travel › Re: How Much Do You Spend Monthly Overseas? by COMPAQ(m): 7:25pm On Mar 11, 2021

Commotfornigeri:
Trust me, some of these people are inflating the figures.

Currently my household spends about 45% of our income monthly. 5% goes out to family as support and the remaining 50% goes into savings.

This is post tax income and we already have our pensions deducted.

At time of retirement, we'd have saved our 50% which is roughly 3k+ cumulatively for numerous years + pension which is about 3k per month per person + the Canada Pension Plan that old people get (about 500+ per person).

Imagine my wife and I retiring with that much, and a paid off house. We can afford to do vacation anywhere without depending on our kids who will already be settled too.

Should we choose to retire in nigeria, we will be killing it too.

So, look at the bigger picture. pensioners are dying anyhow in nigeria and you dont even have as much old people because people dont live long.

Look deeper.

I haven't seen much here that overinflated. Styfff can vary pretty widely depending on where you live. Accommodation in New York that's $3000 might be $1500 in New Orleans.

Your comment suggest you have a pretty good professional job along with your spouse. If there are two good earners in a family abroad and neither wastes money on fashion and gadgets, then then yes you can have money left over.

Other people though may have only one income (usually for kid issues), and the income is not great, but so they will tend to struggle. Extra income from spouse makes a lot of difference abroad.

2 Likes

Travel › Re: How Much Do You Spend Monthly Overseas? by COMPAQ(m): 7:15pm On Mar 11, 2021

Houston USA:

Rent: $1850 (3bed)
Groceries $500
Internet:$60
Car insurance: $220
Lawn:$60
Water:$40
Electricity: $60 ($100summer due to hvac)
Gas:$35
Petrol:$60
Phone.:$15 (phone all mjne- only call, text and data)
Renters insurance:$30

2 Likes 1 Share

Culture › Re: N1M Bride Price List Including 10k For Father's Cigarette, 20K Bush Meat, Others by COMPAQ(m): 2:39pm On Mar 10, 2021

Baybii:
I don't understand "identifying with the..." What does it mean?

This is one of the reasons bride price needs to be scrapped out of existence. It no longer serves any purpose other than impoverishing hardworking couples.

With this kind of list, how many Nigerian men earning the minimum wage can afford to marry?

Totally agree with you. It has outlived its usefulness. Let the children who want to marry do so in peace and quiet.

Politics › Re: Apapa Gridlock: E-Callup Ticket Forgery Uncovered By Lagos Traffic Team by COMPAQ(m): 1:49pm On Mar 10, 2021

wellmax:
Read the post again, they already have a solution

I don't see any coherent solution in the post o. Just general statements that have no backing if proper strategy and work flow is not put in place.

Politics › Re: Apapa Gridlock: E-Callup Ticket Forgery Uncovered By Lagos Traffic Team by COMPAQ(m): 1:41pm On Mar 10, 2021

uptimum123:
https://www.vanguardngr.com/2021/03/apapa-gridlock-lagos-traffic-team-uncovers-e-callup-ticket-forgery-by-truck-drivers/

For goodness sake, and don't tell me these guys are using paper slips and tickets!!? They should have just created a secured app with driver and vehicle details and QR code or something. Such that when a vehicles is called up the app on the drivers phone generates the QR code, which is which will be scanned at the gate from the drivers phone to match the vehicle and driver profile before allowing them entry.

Politics › Re: Oghara Development Union: Ibori Already Wealthy Before Becoming Delta Governor by COMPAQ(m): 11:56am On Mar 10, 2021

bolaayenimo:
https://www.vanguardngr.com/2021/03/ibori-wealthy-before-becoming-delta-governor-odu/

This is the problem with Nigeria. When you are corrupt, caught, tried and convicted, your village people will still support you hook line and sinker.

In the 1950's, they would distance themselves from you.

Politics › Re: Kelechi Ndukwe To Command A US Navy Guided Missile Destroyer by COMPAQ(m): 11:21am On Mar 09, 2021

okigbojihad:
https://twitter.com/NigeriaStories/status/1369162409101959169?s=19[/quote]He is neither a Nigerian or Nigerian-American.

He is an American of Nigerian descent!

Travel › Re: How Nigerians Abroad Complain About Loneliness Amazes Me by COMPAQ(m): 5:04pm On Mar 08, 2021

Quality20:
How cn u b at home 24/7? Isn't there gym, worship centre,libraries etc

Nigerians don't do all these things. Even just to take a leisurely walk in the serene park to clear one's head, Nigerians will say its a waste of time. Meanwhile sometimes that is where your idea comes.

Politics › Re: Justice Mary Odili To Become No 2 At Supreme Court, But May Never Be CJN by COMPAQ(m): 11:55am On Mar 08, 2021

garfield1:
https://www.thecable.ng/with-ngwutas-death-mary-peter-odili-to-become-scourt-no-2-but-may-never-be-cjn

As far as I'm concerned, she should never have been appointed in the first place, because she has a clear conflict of interest with her husband being a prominent politician.

1 Like

Business › Re: Oil Price Hits $71.28 On OPEC's Decision by COMPAQ(m): 10:40am On Mar 08, 2021

erico2k2:
xx 1 litter of petrol was never ever imported at 132 if so at this point please tell me from what country?( I PUT IT TO YOU TO TEL ME WHAT COUNTRY)
xx Attempting to remove subsidy would be catastrophic at any point since we rely on petrol for our local energy needs
xx We have no option than to keep subsidy as petrol determines the price of everything in Nigeria if petrol goes to N400 the country will stand still as we physically cannot afford it, way 4ward FG should do the needful, build a new refinery or licence small scale refineries.the tech is there,

There is nothing catastrophic about petrol subsidy removal. Diesel was removed like 15years ago and kerosene was removed 2-3 years ago and we are still here. Petrol benefits mainly upper middle class and above who have 2-3 cars and could afford N200 petrol anyway.

Food and materials is transported mainly by trucks which use diesel.

Masses supposedly use kerosene for cooking, which is also deregulated (though i hear many are switching to gas)

New refinery does not automatically mean lower petrol prices. Crude oil remain a key input and except we want to subsidize from a new refinery, there is nothing to suggest it would be significantly cheaper.

1 Like

Business › Re: Oil Price Hits $71.28 On OPEC's Decision by COMPAQ(m): 10:34am On Mar 08, 2021

DonHummer:
I swear this buhari government is useless, oil price has been increasing, yet there is no significant positive effect on dollar exchange rate.

Let me educate you a bit. Crude oil prices are quoted for forward deliveries of up to 3 months. For eg, this price of $70 you see now could be for deliveries of June 2021. So the FG has not necessarily earned at this price yet. Even at that, when crude cargoes are lifted for export at the terminals in June, based on agreements, it will typically take 30days from delivery for the buyer to pay you your cash.

Bottom line, the real dollars will begin to flow into FG coffers in 2-4months from now.

Now when that happens, whether the best thing to use it for is to defend the Naira is another thing entirely.

Politics › Re: NNPC: We Spent ₦966 Billion On Pipeline Repairs Between 2010 And 2015 by COMPAQ(m): 10:28am On Mar 08, 2021

Davicjoe:
Why not just round it off to 1 trillion naira. And yet refinery is still not working. What a shame. Money that would have gone round when shared.

The money was said to be spent on pipeline repairs, yet you are talking about refinery. What is the connection between the two!!

Sports › Re: Kenneth Omeruo Gifts His Wife, Chioma, A Range Rover As Birthday Gift (Photos) by COMPAQ(m): 5:55pm On Mar 04, 2021

wale377:
Nigerian and CD Leganes of Spain defender Kenneth omeruo recently just bought a Range Rover evoque for his wife.

The announcement was made by the sister of the wife.

Checkout the Range Rover

https://www.youtube.com/watch?v=91S-dSet6pw

I hope he is investing for the future o. He has no business telling us he's broke 10years after stopping football. Properties in naija and other countries is it. As well as quality stocks and bonds.

Politics › Re: Femi Fani-Kayode: Killing Of Hausa Traders Would No Longer Be Tolerated In South by COMPAQ(m): 10:50am On Mar 04, 2021

FriendNG:
Bello, Fani-Kayode presents AFUCDN’s demands to President Buhari Chief of Staff.

https://punchng.com/cattle-foodstuff-traders-end-blockade-visit-presidency-over-demands/

FFK speaking on behalf of who huh

Politics › Re: Sanwo-Olu Commissions Newly Upgraded Glover Memoriall Hall by COMPAQ(m): 10:49am On Mar 04, 2021

Lanrelagboi:
https://twitter.com/Mr_JAGs/status/1367157224934678531?s=19[/quote]Wow! Really nice, world class renovation for Glover hall. My wedding reception was there 12years ago and it was nowhere near this nice now. This almost takes it to the level of Muson center, though the location isn't fantastic, but at least a lot of companies in Marina can use it for their AGM's.

But as usual, the elephant in the room is MAINTENANCE!! Government property is nobody's property. The facility should be concessioned for effective management.

Politics › Re: Reception Ceremony For The Arrival Of COVID-19 Vaccines In Nigeria (Pictures) by COMPAQ(m): 6:05pm On Mar 02, 2021

Islie:
PUNCH

If NAFDAC is just collecting vials for analysis, on what basis did they approve the vaccine before??

Politics › Re: EFCC Goes After Bola Tinubu, Writes CCB For Assets Documents - Peoples Gazette by COMPAQ(m): 1:26pm On Mar 02, 2021

Omihanifa:
But if no be greed how can Tinubu be nursing the ambition to rule Nigeria again after all the money stolen and he's still stealing from Lagos State government

The man should just go and chill and be enjoying his loot till he dies

Already his hands are shaking and he's even sluggish in communicating. So what's the point of going to a bigger stage to embarrass yourself like Buhari is doing presently

Honestly I don't know why people are struggling for Presidency so much where so much wahala is. Give me Lagos state governor anyday!

TV/Movies › Re: Reps’ Bill Empowers NBC To Decide Tariffs For DSTV, Others by COMPAQ(m): 11:57am On Mar 02, 2021

martineverest:
the way DStv bills Nigerians is totally different from other African countries..they extort only Nigerians

Use Google and check DSTV prices in other countries. Amazing that people have Internet but never use it.

Nigeria is over 200mln but we keep going on and on about a product that maybe 5mln use and that has substitutes, though not perfect substitute.

1 Like

Crime › Re: Abuja Printer Assassinated At Ceddi Plaza, Stabbed Severally In Neck (Graphic) by COMPAQ(m): 11:51pm On Mar 01, 2021

globalresource:
Every assassination is not cult related

He said ‘might’

1 Like

Crime › Re: Abuja Printer Assassinated At Ceddi Plaza, Stabbed Severally In Neck (Graphic) by COMPAQ(m): 11:50pm On Mar 01, 2021

AlexReports:
It was a night of cold tears and loud cries for the family of one Mr. Blessing Michael who suddenly met with death, after being stabbed on the neck and wounded severely by unknown persons assumed to be criminals at Ceddi Plaza, Abuja. Mr. Blessing was assassinated on his way to deliver one of his several printing services to Genesis Cinema, located at Ceddi Plaza, FCT Abuja.

According to reports, the police is presently investigating the situation to uncover perpetrators of the sad death of 25years old Blessing Michael, who was doing averagely well in his printing business. While gathering reports, our Reporters where told that Blessing Michael had left the popular UTC Complex to deliver some jobs to his Clients before his untimely death.

The Police and other authorities have urged the general public to come up with any relevant information that could support investigation into the death of the young Printer who was Stabbed at the neck by unknow assailant, leading to profuse bleeding and eventual his death.

As at the moment of this report, no relevant information have been provided as regards the possible Suspects responsible for the assassination of Blessing Micheal. Friends and family Members have described the diseased as a peaceful and loving person, wondering why was met which such a bittered and untimely death.

For any information please contact: 08051775199 or 08033001031

https://www.abujapress.com/2021/03/so-sad-abuja-printer-assasinated-at.html?m=1

DOESNT A WHOLE cedi place have cctv.

1 Like

Politics › Re: Petrol To Sell For N230 Per Litre In March –marketers by COMPAQ(m): 4:28pm On Mar 01, 2021

yesloaded:
You don't get it

On every 1naira petrol you buy there's tax on it

Even when you board commercial bus or motorcycle, you pay tax

Even if your earnings is 10,000naira per month, you still pay various taxes unknowingly

50naira stamp duty on every 10naira deposit is there & if you receive 10,000naira & above in hundred time in a day, you got charged 50nairw on each 10,000naira, that's not tax? 7.5% charges on every calls you make is not tax? 7.5% on cable TV subcription is not tax? 7.5% on bank transfer charges is not tax? I can go on & on

That's why I said you don't know what you r saying

All the 7.5% you mentioned is VAT na. Which JUST increased from 5%. Even in many African countries VAT na 10 -15% o! Talkless of European countries where its as high as 20%.

Focus on the income side of the argument. That's where the problem is. How can minimum wage be N30k. But minimum wage is that low because we have 200mln people and govt wants to employ everyone by itself.

Left to me, I;d increase minimum wage to N100k, but sack 35% of Federal workforce (states should do the same). Unfortunately the same NLC no go gree. NLC wants to eat cake and have it. Either take higher salary and less staff or same salary and same nos employed. Too many people in govt are sooooo unproductive.

Politics › Re: Petrol To Sell For N230 Per Litre In March –marketers by COMPAQ(m): 3:41pm On Mar 01, 2021

Godarz:
Do you in Nigeria
1.Pay a tv licence fee
2.Pay council taxes
3.Pay road tolls
4.Pay radio licences
5.Pay fuel taxes...no we don't
6Pay any taxes once your monthly income is below N50000
7.Pay congestion fares
8.Pay death duties once your loved one dies...

Among other taxes.?

Including Withholding tax on rent
Capital gains tax on profits

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