₦airaland Forum

nairalanda1:
The reason why Dangote was able to build a refinery was because he got loans from the banks. And the reason why the banks gave him loans was because if he defaulted on the loans, they would take over his lucrative businesses and pay themselves back.

And the reason why we do not have refineries in the first place was because subsidy meant we sold fuel at a loss (and until 2013-15, diesel and kerosene )....and as a result the refineries did not make enough money to pay their running costs, and upgrades. And the subsidy paid never could cover the resulting losses of selling fuel at a loss.

The corruption and incompetency is as a result of the subsidy.

Take Nitel. Nitel was offering services to Nigerians at cheap prices, then Obasanjo allowed the GSM companies in who were allowed to set their prices, and as a result, they beat Nitel well well...to the point Nitel is not as strong as it was.

If you were selling product at say N1000 , making a profit of N300 per product, and I came in as government and told you to sell that product at N100 , and paid you a paltry subsidy of N200 , leaving you with a loss of N400, you would do all manner of things, including selling secretly on the black market....to break even.

The moral of the subsidy mess is simple. When you stifle the profit motive of any industry or business, anarchy results. Poeple don't make profits to keep in their vaults in Swiss banks...they have to pay for running costs, upgrades, insurance, cover for any potential issues, salary raises, etc. If they cannot do that, a mess results.

Also subsides in most countries are paid to the refineries , not to end user. That's how you can 'bring down price' and still maintain the profit motive.

And Nigeria being an oil producer does not mean we can afford subsides. Oil producers that can aford subsides either have tiny populations, or produce far more oil than we do, or have diversified economies, or are Iran with a national debt of 600 billion dollars.

And another reason subsidy has to go is that Dangote, has to pay his loans back. He cannot do that by selling fuel from his refinery at N40 per liter, no matter how we wish he would do that.

Good narrative. The refineries have staff and still recruiting more staff even without refining a drop of petroleum products.

creativehubb:
Some products like whiskey, cigars, luxury cars, private jets, expensive body creams, perfume, luxury items in general, government can ban some or put heavy import duties on them, to discourage it's import...we should approach foreign producers to start off manufacturing plants in Nigeria. Critical times call for critical measures. We are looking for how to solve the currency crises, you are talking nonsense.

they can refuse to start producing in Nigeria because of instability in all sectors , again will heavy duty solve the problem ?
The problem in Nigeria is corruption and incompetences in governance, otherwise fixing our refineries should not be an impossible task, after all Dangote built one from the scratch, then why can't a country fix it's refinery . Spending billions on staff that don't refine any product.

Too bad for an oil producing country.
That's more than £0.5 /Litre on landing fees ?

Nigeria=Ghana
Ghana=Nigeria
🇳🇬=🇬🇭
Never trust them with your hard earned money.

The way the guy died I earlier suspected issues on mistakes from injections from a health care practioner that may have triggered dangerous allergic reactions. Well the case is still under investigation with autopsy.
I knew all them Naira Marley and others have no hand in his death.
A lot of such negligence happens in Nigeria but covered by health practioners.

Its good that so many Yorubas are now denouncing the fraud Tinubu and possibly identify theft that they are not known for this

kind of shame that he has brought to them
In the public space many of them with good conscience are now turning thier back because the evidence from CSU is a shame and a hard pill to swallow.

This isn't what Awolowo stood for when he prioritized education in the West. At all.

Nigerians all over the world are shocked. A President.

una go defend tire. All types of strategies but the forgery and lie can never become the TRUTH.

R.I.P to the victim.
Suffered in the hands of the "one chance" criminals and in the hands of Nigeria system.

What a double tragedy in a goddamn nation.

#Tinubugate##

Nigeria will remember you for aiding the rigging of 2023 Presidential election with use of Mahmoud. Nothing else.

Ewedegubbler:
The forgery gang

The young one learnt from the grand father.

Atiku truly gave them an upper cod knock out blow.
This APC Chieftain is lamenting out of pains from the tone of his voice or message

Anyone way japa make una no chook mouth for Tinubu matta ooo because una POF too fit be dagbo

But all these diaspora that are condemning Tinubu hmmm I am sure 99% of the POF they used to japa may also have been forged.

Now na agbadorians turn, every one dey claim sainthood. just thinking out loud

But come to even think of all this forged certificate this an that, in the other hand about 62,000 Nigerians japa to UK , Canada and US , I am sure 99% of thier POF wasn't true, it may have been forged too.

I also believe majority of them are condemning another person now

Una see am. So

Olowoeko11:
Werey 😂😂 nothing is coming

Werey ni ??. It's now officially true that the document from South West university used at CSU belonged to a female American citizen according to the press briefing today by Atiku and his lawyers and other revelations.

Go watch am.

My freind who is a lecturer at a federal University told me only 4 of them lecturers are remaining at the Department , the rest has japa to UK and Canada , he is also processing his documents.

Federal university ooo

One day students will come and meet cleaners and some none academic staffs running the Department

firearcher:
The man's uncontrollable ambition and desperation single handedly destroyed Obi's chances and ushered in Tinubu.

After 8 years of a northerner, the man feels what we need is another notherner.

It is well.

Better let another Northerner continues since agbadorians United with fulani to prevent igbo Presidency, we are fully behind Atiku, let another Northerner continue if need be.

Atiku don destroy Tinubu's image globally , now a heroic welcome from a successful legal battle abroad to expose a 43 years secret.

Atiku mean business o.o.

To tell Nigeria how his lawyers defeated Tinubu's lawyers in Chicago.

Joblessness is a big problem. Let BAT give this Reno Omokri job

GEJ left more than eight years ago , Reno Omokri has been jobless for up to 8 years.

Meaning if he has been paying bills ,without a job or business for 8 years ;. Overseas we know how far..The reason he ran back to Nigeria after Buhari left government is to carrying Propaganda for BAT thinking BAT may have mercy on him with a job. Nothing for him.
Jobless man. Him no get shishi $1000 sef now him no get am. He is just deceiving agbadorians.

On this international scandal of such magnitude ??

Jobless man ;. He doesn't even have $1000.

Over 43 years secret blown

Nigerian President to the world. What face are we going to be using to attend international conferences..God help my country.

Lies , they went there to discuss Atiku's wahala he is given them. The man that came and wasted eight years of Nigeria existence.
Just few months out of office his Presidency has been swept under the carpet.

Unlike Obasanjo and Goodluck who are invited all over the world for one consultantion or the other.

How did we Nigerians got to this level of global embarrassment This country needs a national rebirth. This statement by that CSU staff is a hard pill for us to swallow. He has to tender an apology to Nigerians. This has gone beyond Atiku and Tinubu the two gladiators fighting in a political space. The handshake has gone beyond our elbows.
The staff is referring to Hausa, Yoruba and igbo as certificate forgers.

INEC and our judiciary did nothing about it, now the World now see it as normal in Nigeria.

This CSU staff has to apologize to us. Nigerians are contributing positively all over the globe. We aren't certificate forgers.

femisplash:
Tinubu will drag Athief'ku ass to FBI, that's for sure. Atikulooters and Zombidients will labour in vain.

FBI in Lagos or the one in US ?? Where Tinubu is running away from ?

Could make them public ??
I thought we already have them in public here in Nairaland
So all was fake news.

Because they are lawless.

He spoke the truth in the mist of liers , he was ostracized .

So the woman whose signature was forged in the certificate that was submitted to INEC has prepared a lawsuit against Balablu for forging her signature hmmmm.
Na wa oooh our own President.
How did we get here