₦airaland Forum

REMOVAL OF FUEL SUBSIDY: A DIALOGUE
by Deji Yesufu on Friday, December 16, 2011 at 12:31pm

ANTI: Jonathan, in his speech at the Carol Service at Aso Villa yesterday, digressed from the theme of the evening, by again bringing up the subsidy issue. He was nearly on his knees begging for the subsidy to be removed.



PRO: Begging is an exaggeration. Since it’s a pressing issue in the country, why should he not discuss it? He made it clear that the N1.4 trillion spent on capital projects this year was borrowed. The money saved from subsidy could be channeled into infrastructural development and then the country can stop borrowing.



ANTI: That premise is an indictment on the federal government. With all the money we make as a nation from oil we should never be borrowing. Government borrows to fund its excesses. What are all the egg-heads from the World Bank in his cabinet doing if they cannot plan and use the billions we make from oil without resorting to borrowing? Since the Obasanjo’s government, that rescued this country from an excruciating debt burden, left, Nigeria’s debt has been mounting. Now the country is swimming in a debt pool of $34 billion and still rising.



PRO: That exactly is what we are saying: subsidizing fuel will continue to plunge this country in debt. Look at the budget – 72% of it is to be spent on recurrent expenditure, because salaries must be paid. While a paltry 28% is meant for capital expenditure. Now if subsidy is removed the excess cash is what is meant for this capital projects. If not, the government will have to borrow to carry out its projects for 2012.



ANTI: My guy, don’t patronize me. Do you and Jonathan think we are kids? What is this nonsense of “if subsidy is removed”? Didn’t we see the 2012 budget? There is no provision for subsidy in it! Damn it, the subsidy has been removed!! So it is not a matter of “if…” All this talk from Jonathan and his cohorts is simply distracting and at best to supply some cushion effect on the masses when eventually the burden begin to tell on them. Let this government tell us it has no more ideas on how to deliver Nigeria from the myriad of problem bedeviling her and then simply resign like the Italian president did last month. Abi, na by force make person do president?!



PRO: Resorting to insults will not solve the problem. Our government has made it clear that if subsidy is not removed, our economy will collapse. Fuel subsidy removal will free up resources for infrastructural development. Yes, it will instill hardship on the people for say the first six months, but a deregulated economy will eventually bring the kind of competition we see in the telecommunication sector and by then fuel price will come down. Also private refineries will be able to function profitably and this will cause for there to be employment opportunities for the teeming unemployed youths in the country.



ANTI: Talk is cheap. The FG can talk all they like but Jonathan and his family will not feel the impending burden that subsidy removal will bring one bit since it is the state house that takes care of himself and his family like he told us on TV yesterday. There is such a thing as a political will and it must be said that the Jonathan’s government lacks the political will to solve Nigeria’s problem, except, of course, taking the easy route of subsidy removal. This government wants to implement a policy they know will inflict hardship on the people, yet it has refused to take actions to cut down on its own spending. Our government at all levels continue to go on trips abroad that cost the nation a fortune; like their last trip to Perth, Australia, for the CHOGM conference. One senator in Nigeria is paid better than the US president. The government has refused to introduce austerity measure in its circle but it is happy to implement draconian policies like subsidy removal. Again, if petroleum marketers are defrauding the nation, is there no way to curb them? This administration’s inability to deal with the menace of corruption in the oil sector is what has led to where we are today. Some say most of the marketers sponsored the president’s re-election, so he cannot deal with them. One can only conclude that Mr. President is weak and his moral failure in being corrupt himself robs him of the political will and moral integrity to fight corruption. Like Tunde Bakare said, it is not subsidy that should be removed but Jonathan and the PDP.



PRO: We are being unfair to Mr. President. He did not meet a particularly thriving economy when he became president. He is dealing with a 51 year rot in his hands and for me he is doing just fine. A government that desires to succeed should not be overly concerned with whether its policies are popular or not. Remember when the former CBN governor, Charles Soludo, proposed what came to be known as the “Soludo Solution” in 2004, where Banks were required to have a N25 billion investment base. Many kicked against that policy because it was unpopular. But the result dumbfounded many. Today Nigerian Banks are one of the strongest in Africa. When the economic meltdown hit in 2008, it was policies like that one that protected Nigerian banks from going under. The world is in the throes of yet another meltdown; if Nigeria does not deregulate the oil sector, we may be heading somewhere this country may never recover from.



ANTI: It is obvious to me that you, like the government you are advocating, would never bow to sound judgment. May it not be said in the annals of Nigerian history that Jonathan presided over the disintegration of the Nigerian state because of his obduracy.



PRO: President Goodluck Jonathan administration is a listening government. In the past this government has reversed it stands on issues because the people cried against them. Why do you think he will insists on this one despite it unpopularity? It is probably because he and his team are seeing something we all are not seeing yet. Fuel subsidy removal is the only antidote against an impending economic collapse in this country.



ANTI: He should have told us that during his campaign for re-election in April.

"Subsidy is to wait" my foot!

Where is D provision 4 subsidy in the budget?!

Wake up my friends: SUBSIDY IS REMOVED!!!

What is needed is an over-head bridge @dat place
Zebra crossing are for less busy, inner city roads and not major roads.

Despite GenBuhari's penchant for long post and repetiveness, I must give it to him that he is a patient and consistent individual.

In spite of all the annoying puff puff pics earlier on, he has maintained his cool and continued on his argument. What ever we conclude on Abacha loot, I give it to GenBuhari for his patience and consistency.

Abacha never stole a kobo
Just as Obasanjo never stole a kobo
Just as Yar'Adua never stole a kobo
Just as Jonathan never stole a kobo

It is said that the confirmed thief is the one that is caught.
Allow GenBuhari, it is a democracy, everyone has a right to his views.

Thanks Mods for making this hit front page.

GenBuhari
Where do get the strenghth to swim against the tide. I envy you O. Whether Abacha stole or not really doesn't matter anymore now. The man is dead. The recovered loot were certainly looted by his successors; or has any one seen an account given anywhere?

Beaf:
The real Buhari swears that Abacha never stole a dime, so there is little surprise that his NL shadow thinks the same.
Buhari only claims Abacha never stole in order to cover the part he played in disbursing filthy favours and helping wanton theft through his inglorious and wretchedly corrupt time as PTF capone. He is a very sly man.

I posted this elsewhere on NL:

Now that the subsidy matter is about to go into meltdown, the likes of Buhari are screaming, quaking in fear of getting exposed and making oblique noises. There is method to the madness.
Let them waste their time. Bushmeat go catch the hunter.

You know Beafy boy, if you exert half of the strength you use to descredit Buhari to advice your Oga GEJ on good governance, Nigeria will far more developed by now.

How clean or hygeinic are the Suyas you eat

Shayi!
chai!!
*salivating*
if U aint tasted it, U aint tasted anything yet
Shayi, is the life
Try it!!!

Evil-Brain, save for his name, Makes a lot of sense
This bill makes no sense to sensible people

Well OP no eclipse
Fasle alarm
Wrong info

Its d moderators fault putting it on front page

Well its a few minutes to 6:18pm, we'll find out soon
Though I can hardly see the sun were am sitted outside

Why is Morhino not on the pitch?

The rise and fall of the PDP!

I (will) witness(ed )the end of PDP hegemony in Nigeria!

Is there a police report from The Ikotun division of the police to corroborate the story.

Nothing wrong with the thread at all
Just that it should have come under the religion section

Historical disputes
Luther v. Pope
Luther v. Zwingli
Calvin v. unitarians
Wesley v. Whitefield
Spurgeon v. Booths

Bakare said he'll not reveal moral failures of a bishop but will fight doctrinal issues
That is contending for truth!

Occasion dispute not req'd
-Money
-defendin one's honor
-revenge, etc
It must be noted only God can judge a dispute

Let me list occasion dispute is justifiable
contending 4 truth: jude3
instructed by God: Jeremiah
defending d weak

This' 4 a short history of d church in d NT

NT
Peter v. Xtian Jews: Act
Paul v. Xtian Jews: Acts
Paul v. Peter: Gal.
Paul v. Barnabas: Gal
Paul v. Demas: 1 Timothy

Another thing is dat God is a righteous Judge and he will judge even his servants
Let me enumerate som biblical dispute

That ministers/xtians will disagree is an impossibility, how they handle d discord is another issue

Where is Papabrowne?

There is no drive in this govt; no political will
No govt is run on propaganda alone but by forceful visions

"hit d ground runnin" is now hitting the ground snoring
Its a sign of failure when a govt blames his woes on opponents

By Feb'12 GEJ would hav been leading this nation, pray what is his scorecard
How long does a visionary convince skeptics

S
E
U
N
For birthing the great NL

and
Jarus, very matured. I checked ur blog and it has led to my building mine!

This is probably the only policy of d GEJ govt that I find laudable.
Atleast someone is thinking in this govt.

A typical Nigerian problem
You can bet foreigners reading this thread can't understand what we are saying.