₦airaland Forum

[quote author= post=106647387]The removal of the subsidy now, would further diminish the welfare of Nigerians.

The subsidy should only be removed when the country achieves self-sufficiency in the refinery of its own petrol.

In as much as we know that the fuel subsidy is fraught with a lot of irregularities and unaccounted funds,
We still believe that the government should retain it, whichever mechanism or method use until Nigeria is self-sufficient in refining its own crude oil.

We are getting close to that if it is possible for the private refinery launched by Dangote to come to life. We believe that we should have enough refined petroleum for the country.

Slow and steady Nigeria will be great again in our lifetime.
God bless Nigeria.


........even in the well![/quote]No rotten meat!

anorexicmuster:
While Bubu was showing off his misunderstanding of subsidies, there was some truth in what he said.

Back in the good old days before bubu made NNPC the sole importer and subsidiser of fuel, people were making fake subsidy claims to earn extra money from the goverment. Claims for.fuel not imported or for fuel smuggled across the border

Among a host of other sharp practices

Despite bubu calling it a scam, for political reasons he opposed GEJs attempts to.end the scam

so did he end it?

dvkot:
so did he end it?

He did not because like most Nigerian leaders when they are forced to choose between good decisions and political expediency they choose the latter

There were many good reasons not to vote for apc in 2014. Their idea on subsides was one of them. The fact that they were promosing 40 naira fuel showed they didn't want to remove subsides at all. Nor did they understand them

Hello guys a new solidarity movement was created for Nigerian youths (students precisely)
Drop a comment below to show your interest

I smell looting in this subsidy sh*t

BeeBeeOoh:



Buhari once told us some time ago that subsidy is a scam, now, that same Buhari is into that same scam.


No be juju be that?

Yes, it is always easy to stand afar and criticize, just like we are criticizing now. Let one be there and one will know how far.

989900:
You can't remove subsidy because it's the feeding bottle of NNPC and Aso Villa.

Remove subsidy and this country might go up in flames (the hyperinflation, the unrest, etc.) . . . LoL . . . you guys are only delaying the inevitable.

BTW, where are the 1 refinery per year that old con man in Aso Rock promised 6 years ago?

Buhari is the general overseer of all yahoo boys worldwide!

Maybe the country might suffer a bit which os why some form of funds should be paid out to vehicle owners for the intital high price increase for a year ( as done in some other countries)

The thing is , our revenue is not enough to pay for subsidies anymore, plus it ia driving us into more and more debt

Either government removes subsides or government tax everyone including herdsmen, farmers, casual labourers to pay for subsidies

Time we put subsides to bed. Nigeria cannot afford it

anorexicmuster:
So we keep on pouring money down a bottomless pit.

Also subsides is why we dont have more refineries. Who wants to refine fuel at above 250 naira a liter and sell it at 162 naira per liter? Unless you are Dangote

This your talk dey very funny, it never ceases to make me laugh

rex21:
This your talk dey very funny, it never ceases to make me laugh

Yeah it sounds funny but when one thinks about it it isn't funny anymore

anorexicmuster:
Yeah it sounds funny but when one thinks about it it isn't funny anymore

When one thinks about it, it moves from being funny to being fallacious

rex21:
When one thinks about it, it moves from being funny to being fallacious

The cost of refining petrol is not static. It rises

So anytime oil prices rise , the cost of refinong petrol rises.

To keep petrol cheap in Nigeria , we have to pay more money to the sector in the form pf subsidy to compesate them for the losses made selling petrol at a cheap price.

Thats a large part of the reason why we don't see much benefit when oil prices rise. We are spending a large part of the revenue from crude on subsidising fuel


Plus we import because subsides make it unprofitable to refine petrol in Nigeria. Unless your name ia dangote and you have enough collateral to take loans from banks to build a refinery

APC is 100% guaranteed to lose the 2023 elections if they remove fuel subsidy now and petrol price skyrockets high. They will remove the subsidy immediately after 2023 elections.

Subsidy is a scam/corruption yet have been dilly dallying on the same alleged subsidy corruption. These people are just chronic irredeemable patholog-ical liars and scammers The worst criminals ever seen in government.

In the words of Buhari, "who are they subsidizing".

I miss Goodluck Jonathan...Sometimes i wonder how he did it...Cos he was intelligent and have good brains in his cabinet and not a walking corpse there now..

[quote author= post=106647387]The removal of the subsidy now, would further diminish the welfare of Nigerians.

The subsidy should only be removed when the country achieves self-sufficiency in the refinery of its own petrol.

In as much as we know that the fuel subsidy is fraught with a lot of irregularities and unaccounted funds,
We still believe that the government should retain it, whichever mechanism or method use until Nigeria is self-sufficient in refining its own crude oil.

We are getting close to that if it is possible for the private refinery launched by Dangote to come to life. We believe that we should have enough refined petroleum for the country.

Slow and steady Nigeria will be great again in our lifetime.
God bless Nigeria.


........even in the well![/quote]You think say you get sense but na dust dey there..... It is so glaring to you that Buhari is a failure. His mission was to subtly subjugate other tribes but secret is out in the open....he misfired that is why the economy is in comatose..
Nonsense everywhere

anorexicmuster:
The cost of refining petrol is not static. It rises

So anytime oil prices rise , the cost of refinong petrol rises.

To keep petrol cheap in Nigeria , we have to pay more money to the sector in the form pf subsidy to compesate them for the losses made selling petrol at a cheap price.

Thats a large part of the reason why we don't see much benefit when oil prices rise. We are spending a large part of the revenue from crude on subsidising fuel


Plus we import because subsides make it unprofitable to refine petrol in Nigeria. Unless your name ia dangote and you have enough collateral to take loans from banks to build a refinery

I'm still laughing from your first assertion, u just dropped another one. Just say you dont like subsidy, its understandable, not all this unfounded allegations on top subsidy head

Subsidy, is it not the money govt pays to make fuel cheap ??

If one can produce the petrol in nigeria, will govt not pay him the normal subsidy to make the petrol cheap ??

Just say Nigeria is not a business friendly place, stop blaming subsidy, its done no wrong in this instance

anorexicmuster:
So we keep on pouring money down a bottomless pit.

Also subsides is why we dont have more refineries. Who wants to refine fuel at above 250 naira a liter and sell it at 162 naira per liter? Unless you are Dangote

How is Dangote different. At least you have heard from real economists.
You can now rest with your empty propaganda

rex21:
I'm still laughing from your first assertion, u just dropped another one. Just say you dont like subsidy, its understandable, not all this unfounded allegations on top subsidy head

Subsidy, is it not the money govt pays to make fuel cheap ??

If one can produce the petrol in nigeria, will govt not pay him the normal subsidy to make the petrol cheap ??

Just say Nigeria is not a business friendly place, stop blaming subsidy, its done no wrong in this instance

Good evening. I have tried.

If you bought shoes at N8000 a pair to sell at N14000 a pair to earn a profit of N6000 a pair and then government comes in and forces you to sell at N4000 a pair meaning you lose N4000 but goverment pays you a subsidy of N2000 reducing your loss to N2000 a pair, would you like it?

You wont like it if i called you a communist . Because that is what you are. You don't want businesses to make enough profit because you think it ends up in their pockets. It does not.

You cannot be business friendly and be supporting price controls which are an inherent part of subsidies

I remember I was arguing with somebody ln 2019 that there is still subsidy

I thought buhari said he don't know anything about subsidy

APC is a Scam.

anorexicmuster:
Good evening. I have tried.

If you bought shoes at N8000 a pair to sell at N14000 a pair to earn a profit of N6000 a pair and then government comes in and forces you to sell at N4000 a pair meaning you lose N4000 but goverment pays you a subsidy of N2000 reducing your loss to N2000 a pair, would you like it?

You wont like it if i called you a communist . Because that is what you are. You don't want businesses to make enough profit because you think it ends up in their pockets. It does not.

You cannot be business friendly and be supporting price controls which are an inherent part of subsidies

Abeg read that your analogy again, it makes no sense in reference to the topic we are talking about

What you are saying in essence is that the marketers that import petrol are doing so at a loss. You reason am, e make sense ??

rex21:
Abeg read that your analogy again, it makes no sense in reference to the topic we are talking about

What you are saying in essence is that the marketers that import petrol are doing so at a loss. You reason am, e make sense ??

NNPC is the sole importer of fuel since 2016.They also pay for subsidies out of their pocket. Government helps too

Also many marketers made profit pre 2016 by making false subsidy claims and by smuggling to neighbouring African countries where fuel is more expensive . And by selling on the black market during scarcity times

If they did not do the above they woukd have been bankrupted

There are a lot of reasons why gej wanted to remove subsidy.

supply being more than demands effect on price can not work in Naija, Nigerian marketers know how to form an association, through the association; they will agreed on uniformity of oil price..

I don't think functioning of refineries in this country can make a significant changes on oil prices.

That's Nigeria for you.

anorexicmuster:
NNPC is the sole importer of fuel since 2016.They also pay for subsidies out of their pocket. Government helps too

Also many marketers made profit pre 2016 by making false subsidy claims and by smuggling to neighbouring African countries where fuel is more expensive . And by selling on the black market during scarcity times

There are a lot of reasons why gej wanted to remove subsidy.

Now this points are solid.
Nnpc became the sole importer due to subsidy fraud. Its not like the marketers were not making profits, they just wanted more than their fair share.

Do you know what a #1 naira profit per litre of petrol amounts to per day in nigeria ??

Refineries will function if it is privatised and the license given to few people using state/geo political zone to avoid marginalisation claims.
The profit will now be based on sales volume, not per unit of product

Every year, same nonsense.

Did they not say that they'd remove this subsidy eight years ago when they were campaigning? Along with making the naira equal to a dollar...

rex21:
Now this points are solid.
Nnpc become the sole importer due to subsidy fraud. Its not like the marketers were not making profits, they just wanted more than their fair share.

Do you know what a #1 naira profit per litre of petrol amounts to per day in nigeria ??

1.The matketers were.engaging in sharp practices because subsidy made it difficult for them to make a profit.

Back in 2012 it cost N99 to import one liter of.fuel. Marketers then sold same fuel at N65


By 2015 it cost N132 to import one liter of.fuel. Marketers were then selling it at N87.

Meanwhile the falling price of crude meant available revenue to pay the difference ie subsidy was running out. Oil was at 108 dollars per barrel in 2012, by 2015 oil fell to 60 dollars per barrel

Under such circumstances the only way to make a profit was by sharp practices


2. Even now marketers are barely breaking even. If not for the fact that goverment also subsidises the transport of.fuel from.depot to base they would have been broke


3. Add the fact that the cost of refining fuel goes up...