₦airaland Forum

nairalanda1:
Which many of these countries , their citizens pay hefty taxes for the government to be able to afford subsides.

Yeah, I heard that Iran does subsides...except that they are limited and also, the country is heavily in debt partly due to those subsides.

The reason why we cannot pay subsides in nigeria is because of government incompetence in diversifying our income sources as a nation. We went from being a world leader in many agric and cash crops production in the 1960's to being zero or so forth. And we won't support industrialization and tax revenue is still painfully low.

Result is a broke nation, which has to pay for subsides by either borrowing or by not doing so.

And corruption makes the matter worse...someone steals money and things get even worse.

LZAA:
Support who?
Apcheat ?
You're having a laugh
You see this debt is not the MAIN reason DISCOS and GENCOS are underperforming
It's just a convenient excuse
Like i said even if you clear this debt today never expect steady power supply
Those criminals will still find another excuse
Support Apcheat?
Smh😄
🚶‍♂️

bizzibodi:
I don't understand who owes the debt the government or the public of discos?

LZAA:
Normally Govt SHOULD clear it's debt
But you see those useless GENCOS and DISCOS ba?
Even if they clear that debt 10 times over the an.imals will find reasons not to supply power
Very useless organization
Smh
🚶‍♂️🚶‍♂️

jokaka89:
HHHHMMMM.
THIS IS ONE OF THE REASON WHY I DISLIKE PRIVATIZATION OF GOVERNMENT PROPERTIES FOR PIECE OF BREAD.
IF GENCOS WAS NOT PRIVATIZED, ALL THESE CASHOUT WILL NOT BE CELEBRATED BY THE THIEVES.
YOU PRIVATIZED BUT STILL USING GOVERNMENT MONEY TO SUPPORT THE THIEVES.
[color=#990000][/color]

grandstar:
If the Gencos are truly being underpaid by the government, this is unfair.

They are being forced to carry the weight of electricity subsidies and thr indebttedness of large amount of monies owed by gocernment instittuitions.

It is time the subsidies ends, all government bodies perhaps move to prepaid if it possible. I dont know the global best practixes in that regards.

Proudlyngwa:
It is not sustainable

I hate anything subsidy

DeLaRue:
These huge debts accumulated over the past years.

I don't know why the previous government was not paying down these debts despite printing N20 trillion naira.

The privatisation of the power assets has not delivered any noticeable positive results.

wellmax:
This is what I expected the government to do.

Subsidy cannot come back but we can increase supply to Dangote gradually until we fulfill our obligations to external buyers and further increase supply to local vendors at a fair discount.

But government paying out monies in form of subsidy is not sustainable

Hmmmmm2024:
Since dangote is now buying it with naira from backyard, can we now get it at 700 naira per liter... Because how can you blame USA-IRAN war on the price of fuel, when you are getting the crude using naira from backyard...allow those buying from the middle east to use the war as excuse to sell high...abi Iran is now in the Niger Delta ?

forgiveness:
How can Government be paying for darkness? It's high time subsidy is removed and electricity is regulated to serve the interest of the populace.

What we currently have in the power sector is manipulation and extortion by these so called power generating companies.

They are the major problem of the epilepsy power supply in Nigeria.

Just imagine paying estimated bills for darkness. That's total day light robbery.

OniyideAmplify:
Then why can't we just go our separate ways if that is the case cos I don't see Nigerians changing that mindset soon and it's annoying

OniyideAmplify:
The first time I went to Dubai for holiday, I met Dino Melaye on the train. Many things started flying through my mind, I was like see how he's shining teeth, imagine they've done the same thing back home. I cursed the day I was born as a black man bro.
The most painful thing is that we're not Burundi, we have all what it takes to me like Singapore, so why are we now still begging for basic amenities in 2026.

It is well.

grandstar:
I am certain he made a lot of cash during Buhari's 8 yesrs in power.

The subsidy of the dollar made many super rich.

All the well connected had to do was to purchase dollars at the official subsidized rate and sell at the market rate in the parallel market, and you make a massive profit.

hush15:
Lemme share a secret with you.

Do you know there is a man in Nigeria that has put this to practice and even someone like dangote decided to emulate. He used to. He said it but one day, he decided to change the narrative and that happened cos he took a cue from somebody. Many may not admit it but there is one person that serves as an example to others, and i will share that person at the end of my comment. Before that, i want people to understand this, wealth is a tool like every other inanimate or abstract object. It can be used in a good cause like building a system that works or be used for evil like destroying or enslaving a system such as the one Nigerian politicians are doing. That is why we need to change this government and put a government that understands how wealth can be used. The last time, it was Alao Akala with almost 100 properties. Even someone like Malami, Emiefele and several other politicians out there. The ones in government today are even worse. The day you start hearing of Tinubu's properties, shettima, Akpabio's, gbajas, and all of them, you will ask yourself, will they carry this monies and properties to heaven? Wealth is meant to be distributed, so when you are blessed to a certain level, the smartest thing to do is begin to redistribute and channel the wealth so that not only will you live a peaceful life but an impactful one too.
Neway, back to the person that Nigerians need to respect with regards to topics like this is Peter Obi. He is a wealthy man just as Herbert was but instead of stock piling properties, he has shown more prudence and I am pretty sure must have influenced someone like dangote to follow suit. He is at par with the likes of dangote. Yes, even though the figures of his wealth is not in public space. PO is the exemplary lifestyle Nigerian leaders should emulate both in private and government life. If you not using your wealth to build better and stronger society, atleast use it to impact people's lives positively. Wealth is not.meant to be stored, it is meant to be shared responsibly

Image123:
i can't help you, you should have listened in class.

gigabyte13:
At least, prices will come down, Dangote cannot hold the country hostage.
As he don enjoy sef, make him too bear the losses in whatever form in the main time, as greed wan finish am.
Crude you no dey important
You still dey carry price go heaven
Baba rest, let the country breathe.

Parachoko:
I'm never in favour of supporting total ban on importation of fuel because of our past experiences on issues like this.

What I don't understand is why the oil companies are not willing to sell to Dangote if he's ready to pay in dollars.

patrickcollins:
He only reduces price when others are importing fuel, that's why monopoly is not good in business.

Dotherightthing:
Nice one

Now let the competition begin

SmartPolician:
Tinubu and this administration have totally destroyed this country.

Given the unprecedented level of inflation his removal of fuel subsidy caused, the minimum salary ought to be #150k or higher.

It will be enforced across the board, including in the private sector.

What can 70k do for a Nigerian in this day and time?

Basicend:
Dangote's dream has finally come true. At least temporarily.

If he is the only one in-charge of the pricing and supply of petrol, he will be able to maintain high prices for a long period of time.

If we have 2 or 3 other refineries in the country, price adjustments will be quickly dramatic and competitive. In 2026, you are quoting fairytales theory.

It is well with Nigeria. Hmm.

Image123:
FG cannot and should not bring down anything. BTW, the speaker in the OP is saying a truck of rubbish only fit for media pages.
Who stops Ahmad from increasing the cost of goods or Mummy Deborah from increasing the cost of goods? Mr President doesn't believe in the headache of price regulation because Nigerians are ready to buy, this is basic demand law. If you don't demand, price will drop. But we will eternally demand, it's even a flex. It's a multihydra headed problem that's more than what FG alone can do in a quick fix.
The law of demand states that, ceteris paribus (all else being equal), as the price of a good or service increases, the quantity demanded by consumers decreases. This DOES NOT work with Nigerians. Even when people go for a 'cheaper' alternative, that alternative price increases to same level as the former, and it rarely comes down in Nigeria.

MarketDispatch:
All these investment money, I hope they put proper controls in place ..if not, the money will find its way back to Europe via fantastically corrupt people

Greencloud:
Hypocrisy, something is fishy

Please what will €290m do in a country of over 250 million.

michoim:
A whole EU investing a paltry sum in a giant country like Nigeria; should that make any news?

Elzazzi:
Even the money he said has been saved from subsidy we don’t see the outcome yet. Ok atleast bring subsidy now that the price of petrol is really biting hard on Nigerians. Nawa

Image123:
In charge of global oil prices?

MOG4LIFE:
What about minimum wage and purchasing power in those other countries? Why shouldn't fuel price be much more cheaper in Nigeria than those places? Any single reason?

demstone:
SAYING 300M IS ACTUALLY BEING MODEST, ITS LIKE U DONT KNOW NIGERIA SUPPLLIED WEST AFRICA SUBSIDIZED FUEL FOR ALMOST 50YRS

pepericozi:
It's good that you said based on exchange rate. Do they need to exchange dollars to naira before they can buy fuel.

If you work in US and you are paid $2,000 per month. If you exchange it to naira, it will be N2.7m per month in Nigeria.

Who among the public servants are getting N2.7m as salary in Nigeria.

Please engage your brain.

brain54:
Prices in Nigeria has always been relatively lower...

It's difficult to explain but Nigeria defy basic economics in many aspects!