₦airaland Forum

Tinubuadvocate:
Government should jail any pressure groups that trying to cause havoc on the nation.

Xscape1993:
Again? Is it that this government does not want us to be happy for one minute? Have we lost our human conscience?

Lazynigerian1:
At the end of the day oil subsidy has to go

The falling oil price means there is no cash to.subsidse crude.

And NNPC is tired of running at a loss to subsidise fuel

Either oil subsidy goes or we keep begging imf for more loans

Agbegbaorogboye:
Falling oil price?
Are you still in 2020?
Oil price has already exceeded our budget benchmark!!
Right now we should be asking Buhari why our ECA is still stuck at $72m

This underscores just how much the fuel subsidy relationship has been abusive. Nigeria goes back to fuel subsidies because it doesn’t have better ways to help people; but it doesn’t have better ways to help people because it’s been wasting money on fuel subsidies. The Nigerian Institute for Social and Economic Research estimates that the budget for fuel subsidies in 2019 was sufficient to have enrolled the entire population of Nigeria in the National Health Insurance Scheme (NHIS)—a shocking fact in a year where tens of millions of Nigerians are scared in a health crisis with grossly inadequate support and poor health infrastructure. Since 2006, fuel subsidies have taken up over N10 trillion of resources.

emmnprince:
What prevented past administrations and the present administration from fixing our under-functioning oil refineries and building new ones to complement the old ones. Why shouldn't they deregulate it in its entirety since and allow market forces to determine oil price.

Lazynigerian1:
At the end of the day oil subsidy has to go

The falling oil price means there is no cash to.subsidse crude.

And NNPC is tired of running at a loss to subsidise fuel

Either oil subsidy goes or we keep begging imf for more loans

Lazynigerian1:
At the end of the day oil subsidy has to go

The falling oil price means there is no cash to.subsidse crude.

And NNPC is tired of running at a loss to subsidise fuel

Either oil subsidy goes or we keep begging imf for more loans

Lazynigerian1:
SORCE

Keemsleek005:
It's not fessible for now, and you know nigerians will not agree even thou subsidy as to go these is not the right time to do it. The economy is not strong to handle such bomb unless u want nigeria to crumble cos any protest now that is all for nigeria.

Lazynigerian1:
Well, deregulation or as I call it, subsidy removal, will lead to high prices of fuel which would lead to high profits, which would lead to more investment which would lead to more money to fix old refinereis and build new ones.

Also, subsidsing fuel prevents the kind of profits being made that would have enabled refienreis to be fixed...since the price control aspect of subsidy means prices are kept too low to allow refienreis to be run profitably(for example...NNPC forces its refienreis to refine fuel below the actual cost so as to afford subsidy)

A busienss that cannot run at a profit would break down

QED