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Nairaland Forum / Nairaland / General / Politics / FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding (10930 Views)
Buhari Orders DSS, EFCC, Customs, Others To End Petrol Scarcity / FG Allocates N5.9tn To Education, Health, Defence, Infrastructure / Kyari: FG Will Divert ₦457 Billion Petrol Subsidy To Other Sectors (2) (3) (4)
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FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by NewFolm4(m): 4:44am On Oct 26, 2021 |
The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director for Nigeria, Shubham Chaudhuri, who spoke on Monday at a panel session during the 27th National Economic Summit, said the country could channel the money being spent on subsidy to primary healthcare, basic education and rural roads.https://punchng.com/fg-to-end-petrol-subsidy-june-2022-world-bank-condemns-n2-9tn-funding/ 4 Likes 1 Share
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Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by MANNABBQGRILLS: 5:00am On Oct 26, 2021 |
Some critical decisions need to be made now for the country to realise its potential. Anything to move our darling nation forward is all we want at @[/color]. 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 [color=#006600]Nigeria. Nigeria will be great again in our lifetime. abobote:We are talking about our nation moving forward for those that want to move forward in life and prosper, Not for pessimistic souls and antagonists. Our comments is not for everyone, just for those that believe in our darling country. Don't get it twisted boy! You get whatever you wish for in life. We Rise. 11 Likes 5 Shares |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Racoon(m): 5:00am On Oct 26, 2021 |
After how many years? Lying government wey dem don take lies swear for.After promising new refineries but as usual failed to provide them? After embezzling staggering amount of monies in the name of running the old refineries @ great economic loss? After that, they are budgeting $B for another round of revamping them same moribund refineries before privatisation? What a wastage. Now they are waiting on Dangote Refinery that will still continue the monopoly. Useless criminal government. DubaiLandLord1: Was it not the same policy the previous government wanted to terminate in 2012-14 that the wicked elements under this evil regime denounced as a scam. Now they have been engaging in that same scam for the past 6years.They need to apologise for insulting the sensibility of this nation and leave our national life. 50 Likes 4 Shares |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Sirheny007(m): 5:01am On Oct 26, 2021 |
Ndị ụchụ! Liars! A government that has adorned itself with lies! 15 Likes 1 Share |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Bobotic(m): 5:01am On Oct 26, 2021 |
In my presence, Neba!!! kai Na me be number 1 citizenship of this kwantry 4 Likes 1 Share
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Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Naijasumii: 5:02am On Oct 26, 2021 |
Subsidy and Boko Haram seems to have something in common. They are always defeated but it will resurrect again 13 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by affinity77(m): 5:03am On Oct 26, 2021 |
The last straw....... 2 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Searchingvictor: 5:03am On Oct 26, 2021 |
Watching 1 Like 1 Share |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by bilulu(m): 5:04am On Oct 26, 2021 |
how many times will they remove subsidy? fact is if our refineries ain't working Nigeria will continue to subsidize.... shameful for Nigeria to solely depend on one man to take Nigeria out of the present predicament 10 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by abobote: 5:05am On Oct 26, 2021 |
Procrastinating FG |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by JUO(m): 5:05am On Oct 26, 2021 |
Fuel is going to be officially N300 in 2022 7 Likes 1 Share |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by olu77(m): 5:06am On Oct 26, 2021 |
It seems there are tougher days ahead. 2 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Maxymilliano(m): 5:06am On Oct 26, 2021 |
Clueless government helplessly waiting for Dangote refinery. 7 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by ohosi4real(m): 5:07am On Oct 26, 2021 |
Another story again. Confusion government |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by igbowoman: 5:07am On Oct 26, 2021 |
The same one people rioted and died for. All you folks that protested against GEJ don drink poo taya 6 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by PUSSYHOE(m): 5:07am On Oct 26, 2021 |
Subsidy and vagina they are always lying. |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by abobote: 5:07am On Oct 26, 2021 |
post=107066258:Which forward? A broken bottle cannot be re-arranged 4 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by DuBLINGreenb(m): 5:08am On Oct 26, 2021 |
I HATE Nigerian government with passion Buhari just fueled that hate to astronomical proportions How Una take vote Buhari sef or why Una allow am tig him way into office? I'm young, but I listened to one of Fela's song about Buhari I swear it was as if the song was sang in 2020 Everything he accused buhari off in 19** Buhari is still repeating in 2021 Why didn't our elders do more to stop Buhari? 15 Likes 2 Shares |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by DEBUCHMANNY: 5:09am On Oct 26, 2021 |
Again? How many times will this subsidy be removed by this evil government 3 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by In2systemsTech(m): 5:11am On Oct 26, 2021 |
THOUGHT FUEL SUBSIDY WAS REMOVED IN 2016 NEWSFuel Subsidy Removal: Buhari Made a “Courageous” and “Necessary” Decision – Tinubu Published 5 years ago on May 13, 2016 By BellaNaija.com National Leader of the All Progressive Congress and former governor of Lagos State, Bola Ahmed Tinubu has said that the president made a courageous decision to end the subsidy regime. According to Tinubu, “the president’s decision to reallocate funds once earmarked for the fuel subsidy and commit those funds to other more socially productive services and undertakings was a difficult decision. It was also a necessary one”. Over the years, the operation of the measure was distorted to where it no longer functioned for the benefit of the masses but for the undue enrichment of a small club of businessmen, some legitimate in their work, some not. Instead of remaining a positive aspect of the social contract, the subsidy was transformed into an opaque haven of intrigue and malfeasance. It was turned into a shadowy process from which the unscrupulous extracted large sums of money without providing the services and products duly paid for. Fake businessmen became true billionaires overnight as if by supernatural force. To allow this unfairness to continue would have been a breach of the promise made by this government to the people. It became a weapon of profiteering. The machinery of the subsidy had become so polluted that it was no longer feasible to talk about reforming it. Either it had to cease or we would have to surrender to the corruption now inherent in it. President Buhari has, with this decision, put an abrupt and just end to this assault against our economy and political system. He has made a courageous and prudent decision. It is time to end the fuel subsidy and to begin to subsidise the true needs of the people. To Mr. President, I say congratulation for having the courage to remove the subsidy.” For some time, I have been a proponent of this action. I believed ending of subsidy was the only sure way to put to sleep the myriad demons that had invaded the subsidy process, sucking the blood of Nigeria, swallowing much of our needed money. Nigeria has taken the historic step needed to create a competitive environment that will eliminate smuggling, provide incentives for private refineries and attract foreign investments in the downstream sector and create employment,” he stated. Tinubu who admitted that the development meant “higher fuel costs generally”, and will cause “pain and dislocation”, said that the president did not end the subsidy regime essentially to save money but “for the nobler purpose of putting those same funds to fairer, more equitable use in order that government might better serve those of us who are truly in utmost need.” Thus, I ask everyone to take a step back to coolly and objectively assess what has been decided. We must not make the mistake of allowing our political and sympathetic attachment to the subsidy blind us to the hard fact that the purpose and benefits of the subsidy had long ago been taken from the common man to reside in the purse of elite few. We cannot persist in this imbalance and think it will help us to development. Instead, it is better to end the subsidy and use the funds to establish well-targeted anti-poverty programmes that actually assist the people in need. https://www.google.com/amp/s/www.bellanaija.com/2016/05/fuel-subsidy-removal-buhari-made-a-courageous-and-necessary-decision-tinubu/amp/ 2 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Namnam: 5:12am On Oct 26, 2021 |
The government also signed a bill that would see 1.1 trillion naira bill for general infrastructure along with setting up a fund for a 15.4 trillion towards power and infrastructure to meet civilian demands, I don’t live buhari but hey at least the mayors are getting something in this useless government right 1 Like |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Harnny(m): 5:12am On Oct 26, 2021 |
They are targeting the refinery completion...no plan b. What a shame 1 Like |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Soulsymbol99: 5:13am On Oct 26, 2021 |
U mean channeling it to private pockets 2 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by omowolewa: 5:16am On Oct 26, 2021 |
Waiting for Dangote 1 Like |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Tony5050(m): 5:19am On Oct 26, 2021 |
Nija which way |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Nobody: 5:21am On Oct 26, 2021 |
Petrol subsidy needs to totally end. Is better the FG will be ending it next year. They have giving us the chance to prepare for the removal. 1 Like |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by Nobody: 5:25am On Oct 26, 2021 |
JUO:It will depend on location, some location fit be more than #400 sef 1 Like |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by JAMO84: 5:27am On Oct 26, 2021 |
Refineries first before subsidy removal 4 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by akinmusi(m): 5:28am On Oct 26, 2021 |
Is that so?ok |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by gurunlocker: 5:30am On Oct 26, 2021 |
Trust me, they won't want to end it during that period because of election.... But how many times dem wan remove subsidy? 2 Likes |
Re: FG To End Petrol Subsidy June 2022, World Bank Condemns N2.9tn Funding by rezzy: 5:30am On Oct 26, 2021 |
Wàhálà dey Removing subsidy with no refineries Bad roads Epileptic power supply Thunder fire una 1 Like |
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