Xammie001:

IN JUST 2 MONTHS
UNA NO GET BRAIN AT ALL

Mumu

nairalanda1:


On the other hand, we were paying for subsidy using loans. We were using our revenue to pay for debts accumulated.

To bring back subsidy would have required us to take more and more loans. And we would have reached a point where, due to rising cost of production pushing up subsidy costs, we would have run out of money, and then IMF would step in and tell us to remove subsidy beofre they give us another loan.

Yes, price increases are tough, but the way I see it, we were between the devil and the deep blue sea here. Keep subsidy, and we would be burned in a few years. Remove subsidy, and while we suffer now, at least we get some potential benefit...maybe even competiton bring down prices.

Subsidy was around for 50 years, and it wrecked our economy and made us a net importer, and made us lose refineries.

Didinrin. Na where dem Dey discuss subsidy this one deek Dey rise.
Oloriburuku tinubu agent

Zxcvbnmghtr:


Hahahaha "As e dey pain dem e dey sweet us, as e dey sweet us e dey pain dem" lol

May this government just like Buhari's government continue to favour me and my family. Amen. This prayer extends to who ever cares.

Rich on nairaland,a poor,hopeless and hungry Nigerian off it.
You have fell off big time.
Arindin

Zxcvbnmghtr:


All that was talked about on the program this morning. A very interesting and informative program. CONVERSION OF VEHICLES TO AUTOGAS (Part2). There is going to be a part 3 and more for further enlightenment.

Dr. Ibrahim Muhammad, the chairman National Gas Expansion Program, an invited guest. Highlighted this tendency which may arise from supply not able to meet the rising demands for gas which may give rise to the price. He did talked about measures that will make this almost impossible.

Let me give everyone of us an insight. Try to start watching NTA if you want to know where this government is heading to.

There will be a gas revolution very soon which will be very, very, very beneficial to all.

Lastly, I can't help cure your pessimistic mindset.

Moreover the caburators are dual, can use both petrol and gas, gas and disel. So that you can alternate their use to fit your what may be advantageous to you at any given instance.

Mumu man

seunmsg:


In the overall interest of Nigeria and the suffering masses, Dangote refinery will not fail. The refinery will come on steam this year to the happiness of every single Nigeria and to the pain and agony of all those wishing bad on the country simply because their useless candidate lost the election.

Mumu

DenreleDave:
To all nairalanders that I have offended be it in response to a tribal attack or being the instigator of one, I, with all my whole heart apologize to you all.

Back then, most nairalanders can testify, I use to be a very loving & engage meaningful things on nairaland until Yoruba & Igbo tribal issue started which I unfortunately fell for it. Ever since I have been engaging myself in this conflicts, I have regretted it. I don't know what happened but I know it started online but I have no excuse. I was wrong to have fell for such.

Igbos: I have offended you much more than others because of the online tribal war & superiority between us. You are the main reason I am creating this thread because my greatest offenses are against you mainly due to tribe issues.

Yorubas: I have not offended much in terms of politics but I probably other sections on nairalander that I have erred against you, my apologies.

Other tribes: I apologize to you all be it tribal, political views, business or whatsoever on nairaland.

It will be my greatest undoing if I, having being a beneficiary of igbos, Yorubas & Hausa be engaged in tribal war further more.

On the same nairaland, many igbos (for real: I mean many igbos in reality) have been very good to me, they have helped me without considering the tribal war between the two tribes, those igbos I truly commend them.

My fellow Yorubas have been of great favor to me, so many many many and many more likewise other Nigerians on nairaland.

For this reason, today being 24/July/2023 will be the day I will no more engaged in tribal conflict not engage people with insults on nairaland. Good & helpful people are much on nairaland and as someone who is growing, conflict can't help me.

Ndi Igbos on nairaland: I apologize mostly to you. I assure you that our disagreement only start and ends online but henceforth, I will no longer be indulge in such disgraceful & demeaning acts again.

Igbo Kwenu.... Daalu oooo

Cc: Gazzuzz my Oga, Nedekid very good man, seunmsg you be great man.

Your turn around from a very intelligent person to a vile and toxic tribalist was a shock to me. Nevertheless I hope this current apology is sincere and you change back to good.

Zulum:


It wouldn't happen to me insha Allah

This time around I will find the lasting solution.....she will decide by herself

You will die soon bro.
Rip in advance.

TrebleChamp:
So i voted for Tinubu?

I wasn’t against you sir.

TrebleChamp:
Na you and your kind dey cry nah, at least those for Twitter don bury their shame dey lament openly 😁.

I didn’t vote for tinubu. I can’t cry sir

Theflint1:
The dynamics of every election change according to the persons running. PDP zoning to a Southerner again might have essentially made the party become a Southern party, and one can't say how the North would have reacted to that, but suggesting Wike would win a national election sounds very very funny sha.

Pdp presidency south -13 years.
Pdp presidency north- 3 years.
If a southerner had won the pdp ticket, the northern pdp would have felt aggrieved and rightly so.
I don’t even see Atiku winning the ticket as a problem for equity sake.
But once Peter obi left,tinubu already won before the first ballot was cast.
I just hope lessons has been Learnt and the opposition will learn to work together in the future.
Apc is a formidable party despite the shegey they have wrought and opposition can not afford to divide itself.

TrebleChamp:
So increase in price of fuel is bad, but increase in fees of Unity Schools from 45k to 100k at this very difficult time is good. Difficult situation the current Government put the people into, yet they couldn't wait for the hardship to ease off small before adding increase in fees. People i know who have kids in Unilag are already wailing since yesterday, my Friend who is a diehard Tinubu fan was wailing bitterly inside him car while we were going home yesterday 😁. Make we dey defend rubbish dey go.....

Eyaa
E no Dey favor your friend and his family again?🤣

GloriousGbola:


We are saying the same thing with regards to wike. As you said the man carried the party for the eight years that Atiku sat away in Dubai.

He was a party man to the core, unlike Atiku who is anywhere potential nomination face. And in the moment of truth the entire party from tambuwal down betrayed the guy.

I personally think the whole thing could have been handled better from the beginning. Because imho wike is a radioactive candidate.

Rivers is a Christian state, the celebrated crackdown on ipob, the alleged mosque demolition, and all this in the social media era and still very fresh in people's minds - wike no be presidential material.

But they could have done better

But Las Las pdp is like a woman going back to an unfaithful and largely unavailable boyfriend.

Load of rubbish.

SalamRushdie:
Minimum wage is a ruse , when minimum wage becomes 100k it would still buy just the same things your 30k buys today, the trick is to improve purchasing power and not increase minimum wage

Rubbish.

enemyofprogress:
na ibo man now, him wan sabotage our brother's government



Na oladeji245 I just dey pity. Hunger go kill am

😂😂

enemyofprogress:
where will they get the money to pay for the salary increase? Ole! Bloody marketer. Stealing from the people since he was born. Go and look for another work. Fuel subsidy is gone. O ti lo. Ooooooobi! Oleeeeeeeeeee! E pain am

Didinrin
I was not the one in tears yesterday crying about expensive things.
Apooda

enemyofprogress:
ode! Answer the question I asked you about the salary increase that you raised. Oponu ayirada

So government should not increase wages while the prices of foodstuffs,transportation and other commodities skyrocket due to inflation caused by removal of subsidy in a country where the cost of living is already high compared to the wages.
Asinwin.

enemyofprogress:
mumu waiting for salary increase. Where will the money for salary increase come from. Ode oshi. Obidient kee you there

No be you Dey wail yesterday about how everything is now expensive?
Church rat.

BlueRayDick:


I’ve read the article more than 5 times , Tinubu didn’t predicate his argument on what Nigeria earns from oil money . His argument was what must be in place before any government should think of removing subsidy

I’m still yet to meet a tinubu that have sense.
Watch him rigmarole and try to change the narrative again.
Their own destiny is to defend every fuckup of the government.

casualobserver:


Do you have any brain? Where is the money for palliative when there was no money for subsidy? Everybody will pay the price for the nonsense subsidy regime we have been practicing.

Yet the tinubu you are licking his ass today was once against it,writing useless articles and granting interviews up and down despite the fact that the government of that time even made provisions for palliatives just for his own personal ambitions and interest.
How do people who earn 30k or even slightly above survive when prices of things which is already beyond expensive skyrocket to another level without palliatives from the government.
Your position do not even surprise me cos you’re a famous tribalist here and normally tinubu supporters no Dey get sense.

enemyofprogress:
Peter Obi said the same thing too. I don't know why some people are just making unnecessary noise over the issue

has your salary increased yet?
Oponu oloshi.
No one is arguing agains removal but how it was done.
Apooda oshi

casualobserver:


it was provided for by law but the money doesnt exist. people probably do not understand that it isnt like there is some money somewhere and we decided to spend it on subsidy. All the money we have been spending on subsidy was borrowed. it got to a point where there was no where to borrow and we were paying for the subsidy using an illegal means called ways and means and borrowing from NNPC.

When people talk about Buhari incuring huge debts....now you know where the debts came from...we were borrowing to fund subsidy for 8 years at almost $10b a year. Now there is nowhere to borrow money from. Even the govt owes NNPC money.

if NLC like let them cripple the country, when they are tired and realise there is no money and people start getting tired of being at home they will open the country. I would rather suffer strikes for 6 months than spend I more Naira on subsidy. I just read an article that Buhari has 16trillion Naira worth of uncompleted projects. That is the amount we spent on subsidy for 2 years that has gone up in the smoke of exhaust pipes with nothing to show. money that could have been used to complete road, rail, power projects, we have burnt in smoke and some eediot NLC is talking about subsidy. ko ni da fun NLC!!

https://punchng.com/tinubu-inherits-over-n16tn-uncompleted-projects/

So they should remove subsidy without palliative to cushion the effect of inflation on food,transportation and other basics for most Nigerians that are already struggling.
Koo nii daa fun woo naa
Eyin oloriburuku won won yi.
Yesterday they were blaming marketers,today na another shalaye.
Oni shaa kan reejee

Incognito9:


Oga am not defending, last year NNPC or so warned that if fuel subsidy will be removed, that a litre of petrol will be sold for 750. So it's a fair price if it's sold between 480 to 570 and I pray it stays at that range.

I'm not a tinubu supporter and I don't have any business with any politicians, he made mistake by announcing it the day of the inauguration, everybody has seen the effect and nothing you can do about it.

Alright bro.

raumdeuter:


There is no way you can build goodwill on this matter. Its a very hard decision but one that needs to be done. If Tinubu keeps subsidy beyond now or doubles subsidy while the debt climbs even more will he be applauded?

Its like a rotten tooth that has to be removed, If not removed it impacts your health in the long run but there will be severe pains when removing it

The problem with subsidy in this case is that when Oil prices drop globally we suffer because of reduced income, when oil prices rise we still suffer because we have to buy at high rate

I heard a clip from Obi and some people, Subsidy gulps like 7trillion every year. 3.6 trillion every 6months

We are borrowing to fund subsidy.
We are already neck deep in debt. I don't know what the national debt is
Any further subsidy payment beyond what was budgeted for will be funded with more debts
The current debt servicing is taking majority of our revenue. Someone said almost 90% of revenue goes to debt servicing
The difference with 2010 was that we were starting on a clean slate with debt after all the Paris club pardon of OBJ. now we are deep in debt and every amount we generate is to service debt

This is the best time to to it because, Its not close to any general election, this is when the goodwill is highest. No govt will want to face the fallout of a subsidy removal towards an election. If it must be done, it has to be done soon. The APC govt is owning it. It was initiated by Buhari and completed by Tinubu. Reality is there will never be a time when the populace will agree that okay this is the right time to remove subsidy. Our National debt and income is showing us this is the time to do it. Every policy maker knows its the right thing, They just lack the guts to do it

The only thing now is that okay the populace have taken the hit, Now what do we do to compensate them for the suffering experienced

load of rubbish.

Incognito9:
Daily Trust reports that the oil firm has directed its outlets nationwide to sell fuel between N480 and N570 per litre.

This is a fair price I must say, if they can keep it around this range, there's no need to panic.

Collect license of any defaulter and make him pay.

Fair price without increase in wages and inflation in the prices of foodstuffs,transportation and other necessary commodities.
Some people can defend nonsense for Africa.

raumdeuter:
Someone who stalks others, Post irrelevant comments all the time, Who even wished a plane crash on his current favorite politician

Is that not being hateful?

Anyways the world is already dealing with you by gifting you the psych derangement and rejection everywhere you go as a lifetime gift

You’re actually an overated full.
Nothing to see here.

OneTemplate:


Lol. Are you not ashamed? Supporting PDP the party of scams, destructive vested interest and anti-development corruption.

PDP is the epitome of failure scamming refinery TAM funds (turnaround maintenance ) from Nigeria for 16 years while our refineries remained comatose and worthless.

They would then also pocket loads of money running subsidy scam on multiple levels of our economy from forex fraud to deliberate over-invoicing of government through cronies.

Nothing good at all came from the PDP because they left our downstream oil and gas sector comatose and corruption-riddled.

APC has now factually, with solid and ptoven result, shown itself to be a more sincere, solution-driven and progressive government.

No one is telling you the APC is a saintly Party but achieving subsidy removal alone, successfully and optimally, means the Party has proven itself to be revolutionary as the precursor of the genuine deregulation of our downstream oil and gas sector.

Only 'damaged goods' human beings will still be barking like rabid dogs, as you do, against what is good for them.

Yeh. We saw what the useless party you supported did in 8 years of utmost damages.
And the new failure in chief has embarked on another journey of failure of his own.
Now hungry full,reply to with another epistle since you have no job than to be an internet troll.

GloriousGbola:


the explanation for intelligent people who are able to read and comprehend.

it was obviously not intended for you

You’re actually not intelligent.
You’re a shameless and unrepentant asslicker

OneTemplate:


You guys argue over frivolities because you are petty, very ignorant, hateful, anti-develpoment and anti-Nigeria whenever you are not in charge.

Tinubu made no careless speech. Payment of fuel subsidy cannot continue a second after the Dangote refinery begins operation and is meeting the domestic PMS need of Nigeria.

Your God Obi, who was in the wicked PDP and praising it yesterday, is too ashamed to tell his ignorant fan how APC, though not perfect, has to be commended for now essentially freeing Nigeria from the damaging weight of fuel subsidy payment by doing all in her power to sincerely usher in an age where private refineries, essentially the death of subsidy for good, can open, operate and thrive.


All ultra-corrupt PDP did was to scam more money with so-called Turnaround maintenance (TAM) of government-owned refinery claiming those would then work optimally to meet Nigeria's domestic need and give the freedom to end fuel subsidy payment.

It never happened because the PDP, that Obi was a proud member of, were busy eating from both corner decietfully swallowing TAM allocation and skimming billions from the subsidy scam.

APC is not perfect but it will never be well for the PDP who led for 16 years while it is APC, even as no one is talking about it, that has now ended subsidy and will leave Nigeria much better off and economically richer through the capacity of the Dangote refinery and others soon to come.on stream like BUA etal.

Just a shame too much ignorance and olodo disease afflicting Nigeria otherwise it would be clear Obi was part of the problem and Tinubu a firm and lauded part of the solution that is about to now be a "game changer" for Nigeria.

I know you are Oshigun.
Oriyin tii buruu sir
E tii ya werey.
Blaming pdp for Apc failures after 8 years.

GloriousGbola:


to clarify further, the 'subsidy' as we know it where major marketers brought in fuel at international rates, sold to the public at a fixed rate and were paid the balance buy the government ended in 2016 . the price of petrol is based off the price of crude.

in late 2015, saudi arabia flooded the market with crude in a bid to making fracking unprofitable.

this forced the international price of petrol down to a point where the government was literally not subsidizing it. at this point the buhari admin 'ended' the subsidy

however, the price of oil eventually rebounded [good for us] and with that, so did the price of pms. Subsidy being a lightning rod - the government was not ready for the potential fallout. So the burden was passed onto nnpc via 'underecovery' . to this date, major marketers are being owed billions in legitimate subsidy arrears .nothing will make them touch subsidy again. So NNPC has through other companies been importing pms at international rates and selling it to marketers at the subsidized rate.

to this moment only nnpc\nnpcl is bringing in pms. because if i were to import pms directly, i would have to sell at international rates n500+ in a country where pms was sold at n189

NNPC officially became a limited liability company in 2021. so on paper, they are no longer part of the government. so on paper, they are a PRIVATE company supplying PMS to the nigerian market at a subsidized rate. i say on paper because they are still running a lot like a govt company. for a proper transition , they will have to get an oga from outside their system.

the implication of this is the federal govt now owes NNPCL subsidy/underrecovery payments that it cannot pay.

the summary is nigeria is broke and cannot continue to run the subsidy /underecovery especially since to this date, no one has sorted out the leaks in the system - probably because as before too many people are compromised

Yesterday. Marketers to blame,subsidy is still till June ending.
Today. Nnpc price has jumped up, no more blaming marketers but another round of shalaye.
E tii yaa werey sir. Ori yin o pe raraa.

Parachoko:
The Federation Account Allocation Committee (FAAC) shared N655.932 billion among the three tiers of government in April 2023, a decrease compared to the previous months.
The decline in allocation was primarily due to decreases in petroleum profit tax, company income tax, import and excise duties, oil and gas royalties, as well as a marginal decrease in value-added tax (VAT) and electronic money transfer levies (EMTL).

Nigeria’s oil production dropped by 2% in March 2023 compared to February, but overall, crude oil production in Q1 2023 showed a significant improvement compared to the previous year.
A communique issued by the Federation Account Allocation Committee FAAC in its latest meeting on Friday said it shared a sum of N655.932 billion among the three tiers of government in April 2023.

The figure compares with N714.629 billion shared in March and N722.677 billion shared in February 2023. The Federal Government had the biggest draw from the account (56%), the 37 State Governments (24%), the 774 Local Governments (20%), and other relevant agencies in the country.

The month-on-month decline is traceable to a significant decrease in petroleum profit tax (PPT), company income tax, import and excise duties, and oil and gas royalties, also a marginal decrease in VAT and EMTL.

The major drivers of the account are made up of five items which are: gross statutory revenue (GSR), Value Added Tax (VAT), exchange gain (EG), electronic money transfer levies (EMTL), and augmentation from forex equalization account.

Many States rely solely on FAAC allocations to run their states with very minimal Internally Generated Revenue (IGR). Based on the 2022 Budget report, states like Lagos Rivers Kaduna and Ebonyi have comparatively limited dependence on federally distributed revenue for their operations.


In contrast, states like Benue, Taraba, Adamawa, Yobe and Bayelsa either need to work harder on growing their Internally Generated Revenue considering the size of their operating expenses or work on pruning their operating expenses.

Based on data from the National Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production dropped month on month, down 2% to 1.517 million barrels per day (mbpd), in March 2023, from 1.547mbpd recorded in February 2023.

The nation’s output had risen by 3.5% in February 2023 to 1.54mbpd from 1.494mbpd recorded in January. Nigeria produced about 70% of its 1.8mbpd OPEC quota in Q1 2023. Despite the March drop, the Q1 performance is a significant improvement in crude oil production from last year when production was at an all-time low.

When compared with the country’s budget benchmark, actual crude oil production in Q1 2023 was c.75.6% of the 1.69mbpd day in the 2023 budget.


https://nairametrics.com/2023/05/23/the-federation-common-purse-monthly-sharing-faac-is-shrinking/

Keep enjoying your ban nuisance 😂😂

And fuel is selling for 450
Oloriburuku ni eyi sha

thesicilian:

Don't mind them. Many of them already wailing as a hobby before the inauguration, now they're going to turn to full time wailers

Unless you’re a politician,a son of a politician or a rich Nigerian,you’re also a wailer.
But this is nairaland where everyone is a billionaire though in your case I won’t be surprised if you’re a broke and poor church rat who can’t even afford the basic things of life.