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Nairaland Forum / Nairaland / General / Politics / Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy (11574 Views)
Northern Petrol Marketers To Embark On Strike Over N250bn Unpaid Subsidy / Zainab Ahmed: We Have Spent Over ₦157 Billion On Second Niger Bridge So Far / Zainab Ahmed: We Have Identified Plans To Generate ₦18 Trillion Revenue (2) (3) (4)
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Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by updatedws: 5:09am On Nov 25, 2021 |
This is a Northern mission. they want to use the subsidy money to service the $16 billion and €1 billion loan the president took to build railway in the North up to Niger republic... we the southerners must come together as one and fight this with our last blood 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by EdoBoy90(m): 5:10am On Nov 25, 2021 |
This woman and CBN governor are overdue for sacking... They are more incompentent than P. Buhari 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 5:20am On Nov 25, 2021 |
allcomage:This is the easiest of the solution to the bigger picture problem now So trust Nigerian doesn’t have the type of IQ sufficient leaders to implement such A country has the raw materials to make petrol because it doesn’t have the factory to process the crude to petrol It therefore exports the crude materials to other countries that can process the crude for it, it now imports it back twice the price it exports it out So as not to make it expensive to the final consumers ( it pays the companies that imports the final material back into Nigeria a commission ) it’s calls is fuel subsidy Now it wants to remove the fuel subsidy as it’s too costly But what about the main problem in the first pragraph, you still don’t have functioning refineries to process the petrol you are removing the subsidy for If the refineries are too expensive to fix Why don’t you go to Russia or North Korea or even the UK and invite the government of these countries to take over the refineries and run it like it’s there’s No need being scared about anything In life if you neee help you ask for it I trust a country like China they will run those refineries within 5 days and Nigeria will never suffer or lack from refining crude oil into petrol again 8 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Zetty177x: 5:23am On Nov 25, 2021 |
This mumuroon thinks 5,000 is money. What is 5,000? Poor Nigerians don't need ur 5,000k. They earn more than that. U Mars citizens. Buhari dat said fuel will be #40 a liter will leave it at #500 a liter before leaving. Serve these gullible lots right 3 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by simple250: 5:34am On Nov 25, 2021 |
See as all the Zombies run go romans section ..hahaha 2 Likes 1 Share |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by hustla(m): 5:36am On Nov 25, 2021 |
Should have been removed since but ... It would have been politically easier to remove fuel subsidies if the government had provided jobs, entrepreneurial opportunities, and other forms of economic empowerment but no government has been able to do this Maybe the removal will finally stop government from the center and encourage every state to manage its resource Instead of dashing out 5K, why not make business easy for Nigerians eh? The effects of subsidy removal will make people sink further into poverty 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by hustla(m): 5:38am On Nov 25, 2021 |
adonainana: I wonder how a country as large as nigeria cant fix its refineries I think the FG is betting on Dangote's refineries for next year 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by almarthins(m): 5:39am On Nov 25, 2021 |
BeeBeeOoh: A pee see(Apc) all progressive crooks. Bunch of liars. It is quite glaring that apc as a party are anti-people. They have progressively slide nigerians into poverty and misery. They should boldly tell us who they have bn paying 250billions to 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by almarthins(m): 5:44am On Nov 25, 2021 |
adonainana: The wickedness in our rulers won't let them do the right thing 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by CyberHustle: 6:11am On Nov 25, 2021 |
FarahAideed:The subsidy fraud currently unfolding is making that of about a decade ago look like rehearsal. If the figure was below 30 million the government could have easily maintained it. 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 6:12am On Nov 25, 2021 |
But they want to pay 200billion in transport to Nigerians monthly And siphon 50billion Since it has already been included in the 2022 budget |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 6:17am On Nov 25, 2021 |
hustla: The right thing to do is to make dangote refinery the 5th working refinery Honestly education is really important for good leadership and exposure No reason why even if it is North Korea you approach and you hold your hands up high and say pls we help with our refineries we don’t have money to fix it but we have Crude oil It doesn’t matter if North Korea says its flag must be on the naira note in return Honestly whenever you need help you ask for it All the countries that became independent in the 1960,s are the most useless countries on planet earth today In life you must always do the right thing Power generation is a 18th century Benjamin Franklin problem if you want 200,000 mega watts of electricity some countries can build the powe plant for you within 2 months That’s if you are ready oo This country is being run with fear in an unglobilised manner All Nigeria just wants to do is sell its crude oil use the money to fund Nigerian needs if it’s not enough cry that it is not enough and devalue the naira to make it sufficient It’s really sad 3 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by BelovedofLord: 6:21am On Nov 25, 2021 |
BeeBeeOoh: BUT, you pple said subsidy never existed during the past govt tenure! |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 6:25am On Nov 25, 2021 |
adonainana: 1. You would not run to North Korea to run your refineries. North Korea has no refineries and relies on China for petrol ( and that North Korea country is a mess as well. It is poor , broke and it's annual budget is one quarter of what South Korea spends on defence!) 2..Rule number one of allowing a foreign entity run anything is that you have to let them make a profit doing so China basically runs Niger Republic only refinery , meanwhile petrol sells for N370 per liter there. And Niger is poorer than we are. 3.The reason why we have bad refineries is that government forced then to run at a loss to guarantee cheap fuel. Thus they had no money for routine maintenance and upgrading. Meaning they all collapsed. And have become money sinks. 4. If we had removed subsidies in 1993 , when it was first suggested to us, by now we would have had well functioning refineries for decades simply because they were allowed to run at a profit an thus make back the money they spend in refining one liter of fuel. ( A subsidy is what the goverment pays to cover the difference between the cost price of petrol and the goverment price which is lower..It is usually insufficient because the actual cost price always rises and because it is funded by volatile oil revenues. Goverment removes subsidies from time to time by reducing the amount spent on subsides which manifests as a rise in prices) 5. We have a functioning GSM network because goverment allows them to run at a profit. We don't have functioning refineries because goverment forced them to sell fuel at a loss for decades and paid them an insufficient amount of money called subsidy to cover the losses . |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 6:34am On Nov 25, 2021 |
backbencher: |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by arantess: 6:41am On Nov 25, 2021 |
Where is that @falseprophet What do you see next year as a result |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 6:42am On Nov 25, 2021 |
adonainana: 1. North Korea is a mess. It is an absolute monarchy run by fear and oppression . And it is the fault of its leaders 2.If you want foreigners to run your refineries then you have to let them recoup their investment and that means higher prices by default. They have to recoup the money spent in repairing and upgrading the refineries plus they have to sell the petrol above its cost of production otherwise they won't make enough profit to pay everyone from their suppliers to their employees and transporters. It is the way of business. Nothing goes for free. We ran down our refineries because we sold fuel at cheap prices meaning no profit to fix them or upgrade them or build new refineries. That is why subsidy has to go. So that there would be profit enough to fix new refineries, repair existing ones , build new ones and attract more and more investment and financing and ultimately more jobs And you cannot do that by selling one liter of fuel at N165 after refining it at a cost of 250 naira and above, and paying a subsidy that barely covers the difference |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 6:44am On Nov 25, 2021 |
Looking up this thread, I saw a title that says we have identified plans to generate 18tn revenue, Zainab Ahmed. Do instead of rehashing this tales of saving 3trn, Zainab Ahmed should give us an update of how far they have gone to generate that 18tn. Anything outside that is a testimony to her incompetence at her job!! 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ikea81: 6:46am On Nov 25, 2021 |
This woman is a criminal. That's by the way. You want to give extra 5000 to poor Niger people who don't work and don't transport , while real Nigerians who transport to work everyday gets nothing cos you feel they are not poor (No Nigerian have ever gotten her intervention funds, if na lie show list) to be paying 340per liter for fuel , after food prices is killing them, gas to cook is unaffordable, rent na die now, school fees on the rise. This govt is totally useless.....God punish everyone and their families who voted for them 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 6:55am On Nov 25, 2021 |
FarahAideed:Is the 5000 for 20m poorest Nigerians not same with the conditional cash transfer they claim to have been giving to the poorest households for the past four years? This people are a monumental scam 3 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by lexy2014: 6:56am On Nov 25, 2021 |
backbencher: 1. his reference to north korea is that as bad as north korea is, they can still do better in running our refineries than we are doing presently. 2. u are talking about foreign entity. isnt it d same foreign entity buhari has been borrowing loans from and allowing to build railway? 3. simply put, the government destroyed the refineries itself and doesnt intend fixing them 4. since 1993 and even before then, subsidies have always been removed and used as justification for petrol price increase. so which subsidy removal are u still refering to? and how is subsidy removal responsible for lack of refineries which you have acknowledged that government deliberately ran aground 5. government doesnt allow GSM to run at a profit because it didnt establish them neither does it run them. 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 6:57am On Nov 25, 2021 |
backbencher: 1) North Korea is a mess run by fear and oppression Nigeria nko, barely can anyone go and exercise thier right to peaceful protest without being shot mercilessly and being gaslighted about no one dying after being shot This is not entirely how capitalism and the free market works If you want to buy rice in the market today therr is local rice and there is foreign rice and like with any commodity it’s proce is determined by the market forces amongst all other parameters Anyone can run a factory or a refinery and you choose to take your profit anywhere else Even some Nigerian business men born and bred in Nigeria they take thier profits over seas more less foreigners So the point about foreigners running and taking their profit away with is inconsequential It’s free market economics in play many players now buying Crude oil raw materials and refining it through the refineries locally and selling it . The price would never get to 350 per liter The supply of the raw material crude is endless infact fuel might still be ended up being smuggled to neigbouring countries which is a lesser of the evil for the FG because it’s totally not involved as a game player anymore The 4-5 refineries all working at once will produce almost times 3 of the local consumption rate in petrol ago and kerosene terms the nation consumes . |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Charisma01: 6:59am On Nov 25, 2021 |
How many times will subsidy be removed? |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Samuelriano1(m): 6:59am On Nov 25, 2021 |
BeeBeeOoh: I can't find that vulture guy vulturebb9grillz,ilovedemmanna,richdad, and the other host of APC's 30k zombies here. the evil they are supporting is waiting for them 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Theunderman: 7:04am On Nov 25, 2021 |
The Same Government that kicked against subsidy , are the same one trying to remove it, I don't know who are the poorest Nigerians, motherfuckers APC, just looking for a means to steal big 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ofunaofu: 7:04am On Nov 25, 2021 |
At the end of the day, don't be surprised that the money claimed to have been spent on the ₦5000 palliative will be more than the acclaimed subsidy money. 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:05am On Nov 25, 2021 |
lexy2014: Goverment did not destroy the refineries The refineries were destroyed because when you sell fuel below the price of producing it you don't earn enough profit to keep the refineries in good running. Also previous subsidy removals work this way. 1. Goverment pays a subsidy to cover the loss between the cost price and the goverment price 2. However cost prices always keep on rising because of crude oil prices rising and inflation and other things like worker salaries 3. Thus goverment reduces the amount of money spent on subsides , which it calls subsidy removal ..( IE a lie) 4.This manifests as price increases. 5. However the cost price is still higher than the goverment price aka price at the pump. This means that for over 40 years we have been running our refineries at a loss. Eventually they began depreciating 6 .Throw in the corruption that happens because of sabotage...which happens because the refineries are not the source of an NNPC workers salary which comes from crude revenues, and we have bad refineries I think this answers your questions. If you have any other questions or feel this does not answer your questions, I will post a link to a decent article which does a better job of answering your questions than my attempt here Good am |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by RodgersAkpafu: 7:05am On Nov 25, 2021 |
Tannhauser: Indeed |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by goodLord3dg2: 7:06am On Nov 25, 2021 |
Lols 5000 naira per month to the poorest Nigerians . Is it true that some people are already huzzling for election campaign money? |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:07am On Nov 25, 2021 |
adonainana: I think you are missing the point The only way to have working refineries is to allow them run profitably which means higher prices. You cannot run refineries at a loss and expect them to keep running well Eventually prices will fall becaise of competition . Subsidy has to go because it does not allow refineries to run profitably. Modified It does not matter whether you call anyone to help us or not, so long as you are not allowing whoever you are calling to help us or invest in our refinereis make a profit and recoup their investment, their help would just be a big mess. |
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