₦airaland Forum

muyico:
why he reject am?? If he no need
Collect am and dash it out!
Wisdoms no fits kill person, but lacks of it, fits kill

Lol, you never disappoint. Very smart Tinubu citizen, just like every other Tinubu supporter.

Make them add him own join muyico, Burop salewa97 helinues freestuffng yarimo and folks like him. They need it

nairalanda1:
Well, businesses must be run profitable

Ever heard the quote YOU CAN WIN A BATTKE AND LOSE THE WAR?

nairalanda1:
OKay, I guess you run a disco where you produce power at N200 Per kwh and sell it to the poor at N40 per kwh and make a profit...and government doesn't pay you any subsidy....

Thanks for telling me.

Profitability is how businesses works. Nothing is cheap. I and you don't have to like it.

And you needn't be abusive towards me.

There you go again validating my point.

nairalanda1:
Because any changes to the laws would involve a cost reflective tarrif system and an end to subsidy on power.

APC wants to be elected again so they avoid reality for popularity

Any time I see how you liter the comment section with your comments and half-baked fact while trying hard to sound impressive, it reminds me of Don Williams lyrics in the song THE ANSWER. it's goes thus, THE FOOL IS NOT THE ONE WITH ALL THE QUESTIONS BUT THE ONE WHO BELIEVE THEY HAVE ALL THE ANSWERS.

This going viral is wrong.

nairalanda1:
Erm, subsidy started in 1973. If government is fixing prices below market levels and not paying any subsidy, the oil industry would have collaped due to losses in a few years, months even.


It's due to subsidy. Everything else comes from the subsidy. You don't force people to sell at a loss, and then not pay them enough to cover the losses. ANd as the years went by, it became increasingly difficult to do so

Government response was to reduce amounts spent on subsidy, which manifested as price increases, every now and then.

Same thing happened in many communist countries before 1991. Subsidies on food led to supply issues, corruption and famrers hoarding food.

Again, when you prevent someone from making a profit legally, they are going to do it illegally

We don't have food shortages, because food is sold at a profit here in Nigeria...and as such no distribution or corruption issues. Enough profit is made to cover costs...


And it is because of subsidy. At some point paying for fuel below market price is going to do that.

Government cannot control production costs and oil prices. Add the fact that oil money is the source of subsidy money (revenue from crude) which for the most part was always low to meet up with subsidy payments.

That's why we got warned in 1992. Remove subsidy. But we did not hear. Naturally by 1994...government hadto start skipping TAM and so forth...to save money on subsidy payments. They also had to do partial removal of subsdies as they had always been doing.

I mean, if you are selling fuel below market price, while it's cost of production is going up, and low oil prices means that no money to fund subsides (in 1996, 97% of government revenue came from crude, and crude was at very low prices then)...at some point something's got to give.

Ghana in the same period had no subsides, and had working and still has working refineries. Yeah.

Again, profits.



No , subsidy meant the refineries have been running at a loss.

I mean, see Venezuela...went from 900000 bpd in 1977 to 100000bpd in 2007. That was before sanctions...and all because their governments long before Chavez and after Chavez were keeping fuel at cheap prices. I doubt they were being run by NIgerians.



It always was unsustainable



Bad governance as exemplified by government thinking that fuel could be sold dirt cheap. All other things follow from it.

As has been proven several times, governments setting prices of a commodity or service never ends well.

It's obvious we won't see eye to eye in those points. Have a productive day.

nairalanda1:
Dangote doesn't hold a monopoly anywhere

Cement industry : he has at least three competitiors, one of which is the Nigerian subsidiary of a global cement company

Oil: As at 2012, over 20 licences were issued for refineries. Dangote had not even applied yet. Why didn't the others acton their refineries (the answer is subsidy made them risky for investors to pour money. Dangote on the other hand had other lucrative businesses which investors could use to pay themselves in the event of his refinery failing due to subsidy.).

Probably you don't stay in Nigeria, but we're taking of lived reality not paper work.

nairalanda1:
If you were dangote, would you sell product from your refinery at the price that would make poor nigerians happy, or at the price that would help you pay taxes, staff salaries, maintenance and expansion costs, loans, shareholders, and so forth, and leave you with some money left over that can be reinvested?

If I were Dangote, of course I would sell at a price that keeps the business sustainable. A refinery isn’t charity it has to pay for crude oil, staff salaries, taxes, maintenance, loans, and expansion. The Dangote Refinery alone reportedly cost around $19–$20 billion to build and has a capacity of about 650,000 barrels per day, making it one of the largest single-train refineries in the world.

So yes, any investor would price products to recover costs and make profit.
However, the concern many Nigerians raise goes beyond profit. There have been long-standing debates about market dominance and competition around Aliko Dangote’s businesses. Similar criticisms were made in the cement sector, where Dangote Cement controls a large share of the market in Nigeria. Despite Nigeria being rich in limestone (the key raw material for cement), cement prices in Nigeria have often been among the highest in Africa, which critics attribute partly to limited competition and policy protection for local producers.
Because of that history, some Nigerians are wary of a situation where one private entity becomes overwhelmingly dominant in another strategic sector like refining. A functioning economy should encourage competition, strong regulation, and multiple producers, especially in a country like Nigeria that already produces the crude oil used to make petrol.
Profit is normal in business. The real issue people are debating is whether government policy should allow too much market concentration in critical sectors, or whether it should protect long-term national interest by ensuring competition so citizens benefit from the country’s own resources.

nairalanda1:
?

Buhari was a bad leader , but the issues with the fuel supply date well before 2015



A summary of the fuel subsidy and why it was problematic for nigeria.

1973: fuel subsidy comes in

1976 : First end of year queues as a result of subsidy induced losses...these worsen by 2010 eventually

1988: four refineries online . Refining capacity 400000 bpd

1992: problems begin with funding refinery upkeep and subsides

1992: IMF and WB suggest subsidy must go...Nigeria says no

1994: the first of many TAM were skipped. SKipping continues in the years to come

2011: Refining capacity now 91000 bpd

2011: GEJ attempts subsidy removal. Protests led by Buhari, tinubu and co lead to its reversal

2012. 2011 subsidy spending three times 2010 subsidy spending due to oil prices rising from 91 dollars in 2010 to 110 dollars and above in 2011

2013: Subsidy no longer covering losses. Fuel said to now cost higher than the legal N97 per liter in several parts of the country.

2014, Oil prices crash in March. Government keeps subsidy and even borrows to fill the hole left in government spending by paying subsides.

2015: Buhari takes over. During his regime, he prints and borrows even more cash to pay for subsidy among other things.

2019: Domestic refining now below 9000 bpd. Borrowing for subsidy intensifies

2020-21 COVID. Very low oil prices means even record borrowing. Printing money for subsidy intensifies

August 2022: All the oil refineries have gone to the crash. Nigeria now totally broke and cannot afford to borrow. Future oil production revenue used as collateral for more loans.

May 2023: Subsidy gone.

Your timeline has some truths, but it also oversimplifies many things.
First, subsidy didn’t suddenly “start in 1973.” What happened was government fixed petrol prices below market levels during the oil boom, which gradually evolved into a subsidy system.

Second, the claim that fuel queues started because of subsidy losses is misleading. Nigeria has had queues mostly because of distribution problems, corruption, poor refinery maintenance, and logistics failures, not subsidy alone.
Yes, Nigeria had four refineries with about 445,000 bpd capacity, but the real issue was that successive governments neglected maintenance and skipped Turn Around Maintenance (TAM) for decades. That is why output collapsed, not simply because subsidy existed.
Also, saying refining capacity was 91,000 bpd in 2011 is inaccurate. Installed capacity was still the same; actual production dropped because the refineries were poorly managed.
Subsidy did become very expensive, especially after 2011 when oil prices rose, and by 2022 Nigeria was importing almost all its petrol. That made the system unsustainable.

But blaming subsidy alone ignores the bigger problem: decades of mismanagement, corruption, and policy failure in the oil sector.
Subsidy didn’t destroy the refineries. Bad governance did.

Nigeria have never had it this bad. Tinubu seriously needs to rethink and restrategize.

Don't hesitate to go in there with them.

Content.

Incognito403:
Abeg carry propaganda away.

Isnotreal couldn't hit him so they're complaining like toddlers.

For every general taken down, there are dozens more.

IDiaperF that cannot eliminate ragtag Hamas wants to tackle Iran.

Lol.. Don't make me laugh.

Did you even read the article?

Some of you still don’t understand the kind of politician Bola Ahmed Tinubu is.
I grew up hearing that the easiest way to destroy your enemy is to make him your friend.
Look at what happened to people like Reno Omokri and Daniel Bwala.
These were people who built entire reputations attacking Tinubu and his camp. Today they are the same ones going everywhere to repair the image they once tried to destroy.
That is a deeper level of political defeat.
If Tinubu had fought them, they would still be relevant opposition voices.
But by bringing them close, he made them publicly swallow every word they once said.
Now imagine the irony:
The same people who once threw the stones are now the ones polishing the statue.
That kind of political checkmate is worse than political death.

helinues:
Are some of you people still living in the past?

Are the price of goods and services across the globe also remain the same

This is not how to play politics. You people are too petty

Helibobo

Isn't a DCP too big for that position......

Rugal:
Let me test your intelligence ogbeni. What do you think will happen when this self-serving section of the electoral act is brought up in court against the constitution? Do you even understand the meaning of ultra vires sef?

You think yarimo go school? Those guys don't think. They are only loyal to their stomachs.

Guyman02:
He finished NYSC in 2023 you can see him holding his discharge certificate in the attached picture.
He is not a serving corp member

But he's a Nigerian just taking an interstate trip.


A government that can't secure life and property is a disaster. one major expectations of folks from any government is SECURITY.

rafcrown:
Kidnapping and other criminal activities have been happening before Tinubu.

Seyi laws junior bro is here. Very disconnected from the truth.

SarcasticWords:
This looks like fake news. They are selling fuel in my area 700 per litre.

This fake news is nothing but propaganda from opposition parties.

Asiwaju 2027 here we come. All nigerians are fully in support of you.

Are you for real? Please drop your location and fuelling station you got it. Haba y'all should fear nemesis and God

SouthSouth1914:
The Nigerian operators laundered money with it. Take it to the bank

Their must always be an excuse for failure and you shine at it. Take it to bank.

Pootle:
at the age of 18yrs you must serve in the military some of them abroad go back to serve even when not in the country, almost every citizen is a soldier. and it not one year services o 2yr for male and almost 2yrs for females.

I once said this should be made compulsory in Nigeria. This will give birth to patriotic countrymen not just political aliens. The nysc should be scrapped and converted into a military service for atleast 2yrs for the male gender and a bit less for the female gender. Qualifications not needed except mental evaluation and age should be between 17-45.

A grown ass man can't think well enough. Why would you spend on a lady with expectation of marriage if at all you must spend. She's not your mum, not your sis, not a relative, Mo written agreement of after marriage but just fantasy and wild imaginations.

Hopefully Nigeria happens to Helinues, richtaiwo, salewa97, muyico, Burop and the likes.

fmlala:
May the people wishes prevail in Oyo state

In Nigeria political system? A camel will rather pass through the eye of a needle.

Distress? What's distressful about the price?

Jagaban2012:
The word I overheard was that

"Peter Obi lu le."

I laugh entering my neighbors' kpekus.

You too, imagine coming years your child comes across this comment of yours how scarred do you think the child will be?

Mirasteel:
But he was a president both in military regime and in democracy, can your entire lineage ever achieve that? it's just a question. 😂😂😂

We all have contrasting definition of success. Folks like you make Yahoo boys and politicians look successful at the expense of the real folks who understands the real meaning if success. A farmer staying in an Hamlet might be more successful than a business mogul staying in a city. It all depends on our definition of the word SUCCESS.

masterfactor:
What buhari has achieved, ur entire generation can't, his family is in a better place, where is your family place in society

Stop being over emotional, see how emotional your comments sounds. It even made you look more like the dude you quoted