₦airaland Forum

backbencher:
We ended up in SAP because in 1982, oil prices collapsed and left us in a severe lurch

By 1986, we had two choices...either do SAP or take a loan. SAP we chose.

But even then, because oil prices were still low, and were to remain low till 1990/1 when they rose briefly before falling...our revenue was still low, hence things were hard. SAP was just a reality check.

And even then we were still subsiding fuel...UNDER SAP...and expanded it in 88...making matters worse.

Mind you we weren't the only one..the 1980's was a tough time for oyel producers. (Low oil prices is partly why Saddam attacked Kuwait in 1990...largely because oil prices were low, and Iraq was broke from the recently ended eight year war with Iran...and Kuwait oil wells looke attractive. )

During Gulf war, Nigeria made a hell of money, where is the money? IBB looted that money.. Look young man there is no reason or excuse you will give me that will palatable.. Money are always looted not deploy to benefit Nigerians

backbencher:
Thanks for being courteous, particularly as most Nigerian polticans have never supported removing subsides since the onset of democracy when they were in power.

There is a reason why I support subsidy removal...and it has to do with the fact that the N1 trillon spent on subsidy this year could have enrolled 1million Nigerians on NHIS. Instead we threw that money away

Also subsides is why the pertoleum sector has not been able to earn enough profit and repair refinereis, and is the soruce of a lot of waste and corruption.

Again thanks for being courteous.

.....

People buy cables, poles, transformers simply because

1.Government price controls means that power companies cannot make enough cash to pay for all of that..so people have to buy it.

The power companies have been operating at a loss since 2012 (I'll post a link and a graphic showing why)..and the subsidy paid to cover that loss is enough to keep them from going under...but does nothing for their operating costs.

2.If power companies were allowed to charge market prices..ie subsides go..yes we would pay higher for power, but in return they would buy cables, trransformers, etc instead of us doing so..because NOW they can afford it.

I went to a private school in the 1980's. School fees there were five times higher than the government school..which was closer to my house (and my parents had to take side hustles to pay such fees...rich they weren't then). In return for high fees...we got desks, chairs, exercise books when we needed them, textbooks, pencils and biros.

Then I went to a government secondary school..where fees were cheap. Thus I had to buy books, textbooks , writing materials, etc...while I had to make my own chair and desk.

Modified

1.LINK as promised

Let me ask you...during COVID 19, the minister for humanitarian disaster "that is what I call her" said she went to all the 36 states of the federation and the money from federal government got to everybody.. Did you receive such money? That is the way money save from subsidies will disappear while government goes to the world and say every Nigeria is benefiting from the subsidy removal

backbencher:
Yes, subsidy was a bad decision, economically speaking.

But every time government suggested complete subsidy removal..from 1993 to date, Nigerians have always said NO. (That's why even people like Abacha never contemplated subsidy removal totally).

All government can do is to reduce subsidy payments from time to time when the cost of producing petrol rises. (which manifests as a price increase...and which means all is well, until the cost of producing a liter of fuel rises again)...ie periodic partial subsidy removals...which have happened several times for over 3 decades.

Now we are a t a point where falling oil prices means it has to go....or we keep on taking more loans (which IMF doesn't want us to do, because they are tired of us doing so).

I keep asking myself, why will what I produce be expensive for my consumption? Simple, the Nigeria government failed to train Nigerians for the job...the Chinese government train a lot of Chinese in the united states for the production of phones, cars, machines etc . so can a Chinese say he or she can not afford phone or car or tractor? Many of you are just dull and foolish

backbencher:
On a more serious note, removing subsides on fuel and power means two things

1.Government stops spending money on subsides...which means that more money gets saved...plus due to investment flowing in, there is more taxable income from jobs and company earnings..more money for government

2.Second, since there is no subsidy, the electric and power companies now work at a profit, which means they would earn enough money to build more refineries, power stations, etc. They would also be able to afford to buy cables, wires, transformers , so that power customers can stop buying those things. And there would be foreign investment because now people can make profits in the sector...and finally more and more jobs.

Finally, a note on subsides.

Government controls the price of power and petroleum...which they set below the cost of productionmeaning that power and petrol companies run at a loss...meaning that subsides have to be paid to keep the companies from going bust.

But because the cost of production rises, and is never static, the government sometimes has to reduce the amount spent on subsidies to save money...and that manifests as a price increase.

The ideal would be for subsides to go and price to be in the hands of companies in the petrol and power sector...so that they earn profits to fix and upgrade services....and also competition would bring down prices.

The high price aspect of removing subsides...and the knock on effects (food price increase for example) is why most Nigerians oppose subsides. That shock can be mitigated by government doing as was done in some other countries..paying some money to car owners to mitigate subsidy related rises.

You are a typical demonic Nigerian politician..... People buy transformers, poles etc for their community, did NEPA ever considered those facilities as community facilities? All the money saved from looting , no government has ever accounted for it . now you want me to believe that when subsidies go ,everything will fall in place...to me ,you just wrote jargons. Paper jargons as usual

Lamanii22:
Ha! Your libido is very high.....

Yes!! The guy wants to fvck and the pvssy must be given to him to bang

Candidlady:
Endangered species


ketso am disapointed

GBOKASINCHA(m): 6:44pm
The kind Bleep wey dem go Bleep this girls eehn aboki no dey carry tight pussy play

helinues:
The idiots can't even wait for their imaginary 7 virgins in hell

by Allsouls: 12:35pm
BOKOHARAM & ISWAP WILL TAKE OVER NIGERIA GOVERNMENT LIKE TALIBAN IN AFGHANISTAN.
Since Niger state governor & Shiroro LGA chairman raised alarm of Bokoharam hosting flags in the area up till date no single army was send to those area, rather they send solders to east to kill innocent people, while protecting or running away from real Terrorist.
It shows that Buhari governmet are working with the terrorist why will take over the governmet in nearest future. They have started by collecting tax and installing traditional & religion leaders


It is only demons that still support the terrorist government

Foodqueen:
It's a very bad one.

If not stop now, she will soon get carried away and will start locking her phone

Okokobiokor...she go soon dey nack the guy....

Bola146:
Wahala in marriages especially when the foundation is faulty I'll never advise a idle lady to go into marriage, she must have something little to support her husband at home, she should learn a handiwork or business, instead of spending much on wedding, they can use it for her to start a business and do a low key wedding. If she can't understand your financial condition as an adult and how Nigeria economy is so bad now, I don't know what else she needs. Emotionally she might be disturbed for infertility.

Guys should avoid (I will manage with you) kind of women.every woman na material being.dem like good things and naso GOD create dem.

nairavsdollars:
The devil used him

Stop putting blame on the devil and accept responsibility... Do you think other people have not been in that situation before....

Hintona:
Mtchew!

So what? What is new here?

We know say you fvck well that time

Lovenorth:
FFK is only telling the truth, congratulations Prof. Pantami

Please always take your drugs...I kept them on the dinning table

Investigative:
I want to understand Nigeria youths
I can tell you here in port Harcourt
80% of indigenes think alike
Food
Sex
Drink
Sleep

Oboy..blocus is suffocating

Aforxzy:
Leave the man alone. There are still men with such qualities outside and available if your relationship isn't good enough..

You don't gerrit ..OP wants to fvck this particular diick

tiffanyfan:
Habaaa!!!!!!!!

OP wants to fvck ooooo...

If the girl nack that man once ....Okokobiokor ...na finishing

Icouldhave:
I just can't help myself, right since I was a little kid. I get jealous easily.

I want everything to be just me alone, I want to be the one to have money then give it out to people.

I hate it when people gives me money, it anolds me, makes me feel less.


Please how do I contain this attitude of mine.


Ps

I don't do bad.

Neither do I do evil.

I just want to be the one running everything in my family or any place I find myself.

I want to be the number one guy


I want to be the giver always

OP you be witch

Congratulations oooooooo....the useless system in Nigeria has failed so many people...may God continue to preserve and protect your dad

Useless country... How many times will the army say this

Crossroad1:
Fine girl, to tear this girl dey always hungry me..

Golan007:
Let's hear from the police.

News is not always as published.

Na today....what will the useless Nigerian police say... The lies from their head quarters is enough to blast mount Everest

NigeriaIsGreat:
only 30-40% were produced in Nigeria.

Why is Nigeria not able to produce 100%..it is like Chinese complaining of not able to buy phone or afford quality phones in their country. Is that not suppose to be a shame on their president? Something they produce.

ManirBK:
Good move good bless BABA Buhari good bless Nigeria

Did you read the nonsense the minister spoke about....it is called paper work AKA audio production.. By this time next year quote me if anything as change

Imagine a terrorist president threatening his fellow comrades.. Nonsense everywhere

rottennaija:
Bros, it's world over. The price hike is world over, not just here. This period is when we are beginning to feel the impact of covid19 pandemic, money printing, supply chain disruption, trade sanction by the US against China among other things. I has nothing to say do with buhari.

Gas that is produced in Nigeria should be expensive? Oboy use your brain not anus...supposing will don't produce gas how much do you now expect use to buy it

Seekhimnow:
Calm down Bro, no go break person head o

And the terrorist government is planning to hike fuel next year....

helinues:
What a fuckery was that

Where did that happen?

Thank God.
ESN food don land.

What do you have to say about this:

buckeyemedia
nlpolicewoman
krismas
alimohammedibn
falseprophet
pricemajestic
pantami
modsfucker
ibkhaleel
Biodun556
Lastcall
Aboks
Gawu1
theFilmtric
Asidy
MalcoImX
Ibrahimmrfish
AdolfAboki
Queseda,
tsagir
Niceman12
QuotaSystem
abduljabbar4
Northurmate
Fariq
DanArrewa
Susu888
SWORD419
spendoon
Bakinwuta
Bazamfare
Almaigaa
Arewawife
NorthRules9ja
Simplyleo
Ngeneukwenu
Vedaxcool

Budaatum
Monogamy
donbenie
Candidlady
supportnija
Safyqueen
Danjikanbauchi
SlyDev
oloyedewaris
Haakeem
Caseless
Lovenorth
Patrioticman007
Cilicmarin

Useless country.. Beggars of unity

BluntTheApostle:
So, how did you know about it?

if I can still remember.. A top member of APC in Kwara state spoke about this almost a year ago.. I wish I can dig up the statement from that man...please anyone in the house should help

Where are you based?
Maybe I can come over..swears I don't mind

I have been hearing of stuff like this...the day my family and I went to see corpse of my dad in the mortuary, I was a bit surprise when the mortuary attendant knock on the door before opening. I was like woooaaaw

Idiot zombies will come online to praise the terrorist government.. Lies is their logo....useless demons everywhere

Ammishaddai:
You're right brother . Buhari and his goons in the APC clearly stated "they will run a parallel government " if Buhari didn't win the election in 2015. For them to have made that bold statement meant they hand troops or allies that were willing to give them support to just that. And if we follow that narrative carefully, you will see it leads back to the mercenaries (aka bandits) that the APC had allied themselves with

very very true

BluntTheApostle:
I don't know why some people are mentioning Buhari's name. Did the bandits not mention that it was GEJ that agreed to something with them and failed?

It was a secret agreement between President Buhari terrorist government in the event that Jonathan failed to hand over... The evil he orchestrated is hunting his government.... Buhari is the father of terrorism in Nigeria