₦airaland Forum

nairavsdollars:
That man is the most clueless and useless CBN Governor ever. Wonder why the clueless president is keeping him

Because a clueless prez could only enjoy a clueless cbn guv. Shikena.

Somebody's comment on new naira notes.
...'Is this playing....CBN go soak old notes inside Adire , come turn am to Kampala...come say nah new notes'
�

PureMe01:
Agbado urchins and fake EVERYTHING.
But jokes apart. Who exactly is thiefnubuu??

thiefnubuu is thiefnubuu, nobody knows him.

While Tinubu is Tinubu, everyone knows him, including you and Joe Biden.

Kobonaire234:
Benefits

1. No debts from subsidy...because we won't need to spend budget money on subsides anymore.

2.As for 'it becomes additional money to loot'......that is why we are a democracy. We now have the power to put pressure on our leaders to ensure money is spent.

3.Back to benefits. No subsidy means that refining petrol makes sense from an economic view...which means that there would be more investment in refineries at home (Dangote will have competiton)...which means more jobs, directly and indirectly...and more tax revenues for government to spend on the budget.

4.Finally, it means that we no longer waste scarce forex eventually on importation and subsidy...which means more dollars available...which means....naira value goes up, and 'prices of petrol eventually drop' so to speak.

All these your points for removing the subsidy only holds water in a government which have tight reins on how the revenues of the country are being spent. And not in Nigeria where a common Accountant General of the nation have the opportunity and effrontery to singly loot N170bn of its commonwealth, and nothing is being done about it. Or where a former NNPC head hide a private stash of foreign currencies in a safe in his village, or where a former Minister of Petroleum Resources personally looted almost $3bn of the national treasury.

Or moreover Dangote refinery is going to come on course in 2023, so the FX spent on oil importation will remain in the country, and the subsidy part of it will be lessened. And Dangote does not need a competitor, its refining capacity is enough for the national needs and above.

And as for democracy and pressure upon our leaders to behave, the abrogated powers of our criminal leadership and beaurocracy are beyond the influence of the voting masses. They are all the same flux of polithiefcians moving from one party to another, rigging the laws to favour themselves.

So let the subsidy remains, it is the only thing the masses enjoy in this highly molested economy.

Kobonaire234:
That's a very poor way of looking at Ghana's economy. Ghana has corruption, bad governance issues, and a bad currency.



Neither does Nigeria. We don't earn enough from oil...at best 70 billion dollars a year if oil remained at 100 dollars per barrel throughout the year....when we need something like 200 billion or more before we can even talk about earning enough money for our needs.



Because subsidy means free money, mismanagement is going to enter into the issue. (That's why it has to go).

But even without it, subsidy would still be expensive for the reason that production costs rise every year....and if we want to keep on selling fuel cheaply, we either raise the amount of money paid in subsides...or we reduce the amount paid in subsidy, which then manifests in higher prices.

And eventually, the debt that results from maintaining subsides becomes too much for the economy to bear. Because a time comes when subsidy is eating most of the budget, and you have to finance the budget via loans...(That's why East germany collapsed...they subsidsed everything...and while it meant that poor people had a good standard of living...the debt that resulted was too much a burden)

Subsidy just takes the burden of high prices and replaces it with the burden of high debts and loans.


We can divide the country, but it still does not change the fact that you would get cheap fuel...either by paying for it via loans and high taxes...or both....or you just pay the market price.

Things cost money.

You are yet to answer my query above, even if they the petroleum subsidy entirely removed, how will the gains from it benefit the wretched masses of the country? Will it not become an additional money to loot by the country's elites, hiding under the guise of providing shoddy infrastructural facilities?

Kobonaire234:
Yes, and all those countries pay for those subsides by taxing everyone heavily...and they only give some people subsidies...the poorest of the poor. Or selected groups. Not everyone. And if we charged taxes at the rates they do in those countries, you guys will cry and complain.

Yes, the masses benefit from 'cheap prices', but at the end, the market price must be paid...from our oil revenue...meaning we have to take loans to fund things like projects and salaries, as subsidy costs increase. Guess where the money to repay the loan will come from? The massess.

Things cost money. Either we pay market price for petrol at the pump...or we pay for it in loans, debts, and more loans....or we make everyone pay tax...including beggars and the unemployed...to fund the subsidy. It costs money to refine petrol. Selling it at a loss...and paying a subsidy to cover that loss inadequately for 50 years has led to us losing 4 good refineries and being a net importer of fuel.



Niger pays N400 and above for fuel, as does Cameroon, and even Sierra Leone and Liberia. They haven't exploded.

Plus Ghana makes enough profit to keep two refineries running...ditto Niger (one refinery).

They haven't exploded because they don't have large crude oil and gas deposits like Nigeria, whose benefits are being enjoyed brazenly by only a few segment of the population. So since their deposits are not enough to satisfy their country energy needs, they therefore paid for what they buy.

As for making profits from refining oil, all refineries from across the world makes profits (except Nigeria), but it is how those profits are managed that determine national development. Ghana is now facing the problem of government functionaries mismanaging the little money being made from their oil exploration and production just like Nigeria. Like I said before, public sentiments there against their government are nearing boiling point. And besides Ghana does not have that large enough of deposits to expect subsidies from their government just like it is being done across oil rich Arab governments, where a lot of their national needs are being subsidised.

Nigeria resources are being mismanaged, including the subsidy regime itself, that's why they are finding it difficult to maintain it. And even if they remove the subsidy, they will still build a strategy around it to continue cheating the masses, while the gains from it will still be looted by a minute percentage of the people.

Like I said earlier, dissolution or restructuring of the country is the solution to the rotten internal core of this nation, in the guise of corruption, which have destroyed everything of values.

Verysmart101:
Then tell us the Harvard university truth pls

..

I no go Harvard University, so I no go fit tell you the truth from them.

But as for the facts pertaining to the Nigeria Civil War, our history books is full of them. Go through some, or ask Google.

Verysmart101:
Did he lie?

Yes. Beer parlour lies.

Kobonaire234:
I hope you, as a businessman, will sell at a loss, so that you can help the poor. The poor need your help, so sell below the price you bought the goods you are selling to help them

P.S Niger and Ghana sell fuel at higher prices than we do, and both countries are not burning yet.

All countries give their citizens some sort of subsidies, whether agricultural or industrial wise. Since Nigeria did not go the agricultural way, there must be some way we the masses must benefit from the vast resources in this country, thereforeif it through petroleum subsidy, let it be. All of us cannot work with government with easy access to loot and share the national cake.

As for Ghana, they are near to a boiling point, and their government are finding it more difficult to control the citizens, very soon the world will hear from them.

Menclothing:
No matter who your president may petrol no more subsidy it will be 510

You all buy at rate other African countries are buying

Let them bring it on, that's the spark we are waiting for to kindle the fire that will burn the nation.

Launching a fund raising app for who to donate?

Let all their governors donate out of the the loots in their possession.

HilcomTech:
The DNA of an average S/E is filled with lies
That is why Peter Obi lies so effortlessly

The company mining gold in Zamfara is owned by a man from Anambra

Big lies. You and your Obi must be cousins when it comes to lying. An Anambra man my foot!

Even if that is the truth, who is enjoying the mining royalty, Zamfara state, or the whole Nigeria?

Professor822714:
Yes. Boko Haram and bandits will make sure you don't get to make that choice. They will gladly take you down the path they want. Mumu

Yeah, as it is presently happening in Madagascar, where insurgents have taken over their oil producing regions.

HilcomTech:
Why are YUU LYING so brazenly. The governor never said the oil belongs to Home state alone

Maybe your sense of comprehension is faulty.

Inuwa Yahaya was talking so possessively as though the oil belongs to his state alone, in this same way that Zamfara state possessively lay claims to the gold in their territory.

Like I said, this is another reason to dissolve the country so that each region may possessively enjoy their God given resources ALONE. Or don't you think so?

onuman:
Right. Some Niger Delta leaders mistakenly sold the oil in the region to the north in 1967 when they went to Kaduna and asked then governor of Northern region to beg the HoS, Yakubu Gowon, to carve the non Igbo speaking areas of the old Eastern region out of Biafra. Gowon quickly carved out Cross River and Rivers states out of Biafra. That largely led to fall of Biafra.
Northern political and military leaders took over the multimillion dollars oil blocks in the Niger Delta.

Divided, you fall.

Fake narrative.

Give us another story.

So the oil does not belong to the whole Nigeria again, but to Gombe State.

And what an insult to the people of Niger Delta, as though their environmental devastation was caused by them, and not by the oil companies?

Just another reason to dissolve the country.

prinsam30:
why this parole like passing back na

Because the front is hard to go.

eaglez:
Person say he one stake 70 billion dollars you say make him borrow you 20% annual interest for two years, abeg you and oga sabinus who mumu pass.

Him complain to you?

Why are you swallowing panadol for another person's headache?

It is just a cruise and he has answered me, so keep your insult to yourself.

deji17:
Nigeria's best President by far.

Says who?

Johndevmark:
yeah

Mexico is going to win, they are the one pressing. The Polish team appear rusty.

Is Lewandoski playing?

It appears the Tunisians are not true Arabs. Many of their players are not bearing Islamic or Arabic names.

Denmark are dominating the 2nd half. Many attempts at goal, Tunisia keeper saving them.

AngelicBeing:
I want to stake 70 billion Dollars

Borrow me at 20% annual interest for 2 years.

tonididdy:
In the spirit of the underdogs




I predict tinisia to win

Tunisia cannot win Denmark.

All African teams are just there as spectators.

Thank God for that. Now the North will let our people go and stop crushing on the Southern oil.

The Saudis are giving it hot hot to the Argentines: 2;1. Outplaying them on all fronts.

They are going to demystify Messi in this WC.

One4me:
I feel sorry for "brain-washed" Africans like you.
I am sure you blame Russia for annexing some parts of Ukraine but you dont blame Israel for putting 3.2Million Palestinians in a Cage, (something the toothless UN also condemns), in the last fifty years, controlling how much water they can drink, how much food that can enter, how much Electricity it would allow them, whether they can travel out of the refugee Camp to seek medical attention or not and destroying their Houses at Will.
These are all War Crimes, according to the United Nations but because they have a powerful Bully backing them, they go scot free.

Agreed that Israel is surrounded by Arabs that dont like it and it does not like as well, will you say these same words above, if you and your family, from generation-to-generations, are confined inside a Wall, control like Laboratory Rats, say by Niger Republic? Would you accept that?

Funny enough, l am a Christian (and l suspect you also call yourself a Christian) but we must speakout against what is wrong, no matter whether it is "our people or their people", that is doing it.
How would Christ view your "mindset and heart", reading what you wrote and knowing that you know the truth but decided to play "Religious Politics" with it?

Let me to answer you by saying that you are not a "Christian" if you do not support Israel, after seeing what they have gone through after Hitler's Jewish extermination pogrom in the 1940s before they gained back their God Given Promise Land.

They have suffered enough for the land, and they have now reclaimed it as prophesied in the Bible, and they have every rights to protect it against enemy invaders. If this can be done either by erecting protective walls around the lands, or by building a very strong and alert army against their aggressive Palestinian, Lebanese, Syrian, Iranian, Iraq, Jordanian and other Arabian enemies, they should do so. And no one is shutting up the Palestinians(the Philistinians of old) like rats (the UN will not allow that), they are just being denied easy access to Israelis settlement areas, which they love to bomb.

And just because I am curing you of your wrong misconceptions about the Jewish issues, you are calling me a "brain washed African" and a non-Christian just because I kowtow not to your antisemite sentiments. You are right, I am brainwashed, but by the Bible, and by my long foray into historic narratives about Israel.

To advice you further, shelve your hatred about Israel to avoid attracting the anger of God. Remember Jesus wept over Israel, and over Jerusalem, which Israel shall soon recover from the infidels hands.

Download and watch the film, "Schindler's List" to further educate yourself on the Jewish issues.

Chelsea well represented by Pulisic, but he is playing nonsense as at now.

Arbitrary use of power by the former governor to oppress his opposition.

One4me:
Just a few of their People who get brainwashed into thinking the Americans are having their backs, against their Govt, when in actual fact, they just want Iran to end-up as another Iraq or Syria o" Middle East Country, Libya, one more "weakened" Middle East Country where a Nuclear-Powered Israel does whatever it likes, to all of them.
Do you know that Israel has killed over 200 Palestinians, between March and November 2022? yet we dont hear the Westerners talk about this, not even a mention on their Propaganda Stations like CNN, the way they talk about Ukraine or Iran.
If they think Russia has violated Ukraine's sovereignty and that useless UN Secretary is helping them pass resolutions after resolutions, what about Israel that is inflicting Apartheid policies on Palestinians, for over half a century, till today?

Anyway, we live in an Unjust World where the masses are brainwashed daily and cant even think straight anymore.
America will do (and has done) the same thing Iran is doing, to anyone who conspires with an Enemy State, to undermine America.
Enough of their Hypocrisy and double standards.

This is just an anti American Islamic propaganda.

Israel is surrounded by arch Islamic enemies, and they need a strong friend like America to protect their national interests, or else they will be engulfed and obliterated by these sworn enemies.

America is not as evil as they are being portrayed by their Arab haters. They are militarily strong, they need to be, because their enemies are envious of their prosperity, liberty, influence and technological prowess. But they don't make any nation an enemy just because of their military strength like Russia, or former Germany. But if you antagonise them, they will surely retaliate, and they are always protective of their weaker friends.

The Islamist Arabs only hate them because they spread their wings over Israel, who they also hate. And the Americans only protect Israel because of the high Jewish influence on the American Congress. And also because aGod ordained it so, since the Jewish have suffered enough from many nations over a period of 19 centuries, and more grievously from Hitler.

Netherlands on top.

Senegal sorry.

Their game not as exciting as the Eng Iran match.