₦airaland Forum

MansoryMX:
I keep on telling people no hope for this country! A friend of mine who works for Chevron as a deep sea diver earning 6 figures recently resigned, sold all his properties here in Nigeria of which I helped him sell some of his lands and relocated to the UK with his family. His reason! With the way this country is going, the future of Nigeria will be worse than the last days of mankind on earth and he can’t raise his three daughters in an environment filled with lawlessness, corruption to the extreme and no regards for human lives. What a country to live in, what a country to come from! If you can leave Nigeria! Please do and go live in a conducive environment.

And the problem is, when you tell them the solution, remove subsidy, people will abuse you from head to toe.

Meanwhile we keep on subsidisng fuel for non-citizens.

In Cameroon, fuel is N463
In Benin , fuel is N367
In Togo, fuel is n312.
In Niger , fuel is N370
IN Nigeria, fuel is N162 per liter.
So true, there was a time fuel was high as 300 in uyo due to marketer issues while fuel was 165 in port Harcourt, that's how people started buying fuel from port Harcourt
And we expect that there would be no smuggling? (Almost like expecting a lion to suddenly turn vegetarian)

And the problem is, when you tell them the solution, remove subsidy, people will abuse you from head to toe.

Meanwhile we keep on subsidisng fuel for non-citizens.

In Cameroon, fuel is N463
In Benin , fuel is N367
In Togo, fuel is n312.
In Niger , fuel is N370
IN Nigeria, fuel is N162 per liter.

So true, there was a time fuel was high as 300 in uyo due to marketer issues while fuel was 165 in port Harcourt, that's how people started buying fuel from port Harcourt
And we expect that there would be no smuggling? (Almost like expecting a lion to suddenly turn vegetarian)

Seniorwriter:
That's not a solution without building refineries!
How do you guys think! SMH.

Proactivity Leads To Productivity!
@Seniorwriter

Tekrify:
Are you blind to see that a 650,000 bpd refinery us being built in lekki...

Even if we don't see a refinery in the next 2 decade... dangote refining capacity can take care of our demands...to top it up.. buhari wanna rehabilitate portharcourt refinery...that adds 110,000bpd capacity...

Less Dan 5 years all these refineries will be running full capacity..fuel import will be history but subsidies will still remain.. because these refineries are there to make money and their price tags for fuel must correspond with the international price (which Nigerians cant afford ) so obviously only the Forex used to import will saved...
FG wil have to settle dangote meaning the smuggling continues....
Or maybe u will love to buy fuel above N300 per litre...

Blue3k:
How to stop petroleum smuggling. Sell it at market price the end.

grandstar:
Buhari no dey listen.Lasy year when the price of the rude oil collapsed, he had the chance to deregulate the price of the UT he spectacularly blew it.

I wonder which is worse-corruption or wasteful spending!? Buhari is a maestro of the latter.

grandstar:
Buhari no dey listen.Lasy year when the price of the rude oil collapsed, he had the chance to deregulate the price of the UT he spectacularly blew it.

I wonder which is worse-corruption or wasteful spending!? Buhari is a maestro of the latter.

Neutralobserver:
Let's say that Buhari completely deregulates.

Fuel goes up to N300 per liter or more. We save money. Things improve....and his party gets thrown out in the following elections wholescale.(Sure, he is not coming back, but there are people in his party who want to come back..).

Plus, it isn't just Buhari. Look at this thread. Most Nigerians still back subsidies. So, if Buhari decides to get rid of subsidy....out APC goes. And PDP will promptly reinstate subsidy. And we will be back to square one.

Because in poltics, politicans have to promise bread, even when the ingreidients are scarce.

CSTRR:
No wonder, the rate of dollars to the naira is so high.
We are using our Dollars to subsidize West Africa.

Ghanaians come to Nigeria to buy spare parts and equipments imported with Nigerian dollars which they now buy with cedis.

PetroDolla2020:
Nigeria imports spare parts and Ghana buys spare parts from Nigeria? Why can't Ghana import spare parts directly? Why do they have to wait for Nigerians to import and then buy from them? it doesn't make sense to me.

CSTRR:
You need Dollars to import spare parts.

Dollars is not easy to get especially in smaller economies that don't export much.

Even countries like Nigeria find it difficult to get dollars.

PetroDolla2020:
Your logic is funny. Very funny

And who told you “smaller” economies don’t export much? Take Ghana for example. Ghana exports Cocoa, gold, diamond, bauxite, timber, even crude oil.

Ghana may not export as much as Nigeria, but Ghana does not need to export as much as Nigeria because Ghana’s population is 30 million, compared with Nigeria’s 300 million.

What currencies do Ghanaians pay Nigerians when they buy their spare parts?
Do Ghanaians also buy pharmaceuticals, airline tickets, everything else from Nigerians? Or is it only spare parts?

CSTRR:
Population is not necessarily a factor.

All the European countries are smaller than Nigeria in population, but 90% of them export far more than Nigeria.


Ghana exports, true.
But it is not enough to service your business men obviously.

It's a problem for most developing countries anyway including Nigeria.

Ghanaians that buy goods in Nigeria pay in naira after converting from cedis to naira.
That is where the problem is.
They pay in their local currencies what we bought with dollars.

And spare parts are not the only foreign goods Ghana source from Nigeria.
Infact, the whole of West Africa is killing Nigeria.

PetroDolla2020:
I want to assure you that Ghana doesn’t need Nigeria to buy goods in dollars and sell to Ghanaians in naira. In per capita terms, Ghaba makes more foreign exchange from exports than Nigeria.

Nigeria spends half of its oil exports to import petrol. In Ghana, the government doesn’t import fuel. Private people do.

When the price of oil falls, Nigeria is in trouble. It’s different in Ghana. When oil,prices fall, gold price go up, so Ghana doesn’t suffer from the foreign exchange somersaults that Nigeria experiences.

There are many more examples I can give you.

CSTRR:
Per capital terms does not change the fact that the dollar in Ghana is low and insufficient.

Nigeria's non-oil sector is bigger than most sectors in other African countries.

It's huge.
Take our tech industry for instance.
It's probably the biggest in Africa, maybe outside South Africa for now.
What of Nollywood, the music industry?
These are unrivalled non oil sectors that bring in dollars.

And many other sectors.

Oil contributes alot to Nigerias Dollars input, but don't think the non oil sectors is not huge.
It's small in relation to the oil sector in Nigeria, but compared to other countries, it's gigantic.
The last thing I want to do is defend the Nigerian govt in anyway which you are making to do.

Ghana is okay for its size, but your export does not produce enough dollars for your business men.
That is the fact.

When Nigeria closed the borders, a lot of ghanaian traders and business people complained about how they were not able to get supplies.

These supplies they get from Nigeria are bought with cedis even though many of them were imported into Nigeria with Nigerian dollars.

It's not just Ghana. The whole of West Africa is in on it too.

PetroDolla2020:
I’m afraid you are not correct. Nigeria has a tech industry? What do they produce. Where is the electricity to power the so-called tech industry?

Nollywood’s days are gone. Who watches Nollywood these days?
Can you produce authentic facts to buttress your arguments? Sounds to me you are just building castles in the air,huh?
Upon all the things you mentioned, how come Nigeria’s economy is in recession? How come the economy is struggling?
Go and do proper research and come for a well-informed debate. So far, your postulations are not backed by facts or evidence on ground.

CSTRR:
Lol
This guy is ignorant as fuckkkk.

https://www.forbes.com/sites/tobyshapshak/2019/10/30/africa-now-has-643-tech-hubs-which-play-pivotal-role-for-business/?sh=4ab7b4f54e15

Nollywood days are gone? When Netflix is busy snapping up Nigerian films like candy every few months.
And Nigeria recently unveiled its first major animation movie in cinemas this year.

Don't quote me again until you get an education.

Blinded by hate and ignorance.