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Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns - Politics (2) - Nairaland

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Subsidy: Nigeria Treasury Must Be Protected From Looters — Tinubu / Nigerian Airlines Sound Alarm Over ‘Existential Threat’ / Fuel Subsidy: Nigeria Will Pay A Price, Borrowings May Continue – Femi Adesina (2) (3) (4)

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Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 5:59am On Aug 11, 2022
Christian36:
Lol, with the revenue Lagos is getting, yet can compete with cities like Dubai as a result of corruption organize by Mr billion vans. The revenue of Lagos is equal to or greater than the federal allocation of 10states in Nigeria. You guys should fine another story to tell us not using Lagos as an achievement.

Our huge revenue is spent caring for more than half Ibo population in Nigeria.

The population of Ibo in Lagos surpasses number of Ibo back at home. Why?

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Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by henryadex(m): 6:01am On Aug 11, 2022
When a cowheaded is leading the gravitation of the led is towards the wilderness, and this is where we are

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Great2017: 6:02am On Aug 11, 2022
ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence
Which Tinubu are you talking about? Is it the common thief whose party has brought untold hardship, insecurity and poverty upon Nigerians? You must really take Nigerians for fools. No clear conscience can ever support that old kleptomaniac who could hardly remember the name of his party.

2 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Lapilolo: 6:04am On Aug 11, 2022
ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence

Your head no correct undecided Your Tinubu couldn't share his wealth of experience with the idiot in Aso Rock for the past 7yrs + Na now day break abi ?? No more president ruling this country from sick bed, Nigeria and Nigerians deserve better than Tinubu and his Godforsaken evil Apc. The idiot has his political "godson" in Aso Rock all this years(7yrs +) what policy has he advise to be implemented all this while??

4 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Christian36: 6:05am On Aug 11, 2022
ImperialYoruba:


Our huge revenue is spent caring for more than half Ibo population in Nigeria.

The population of Ibo in Lagos surpasses number of Ibo back at home. Why?
Tell that to your brothers in London and other countries. Beside, we work for our money and don't hold anybody anything. Again whether the population of Ibos in Lagos surpasses those in the east or not, that is not the issue, all we are saying is that we want a working Nigeria by voting in a qualify person not those that sees Aso-rock as a retire place to loot more money

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:05am On Aug 11, 2022
mycar:

You quoted a very good piece but failed to apply it properly, maybe you did not understand the english very well. FYI, the line is asking government to make an effective use of the taxes but your principal Tinubu advice was for government to tax more people and things. and by the way, Peter Obi left Anambra better than he met it.
example of what Tinubu was talking about https://www.nairaland.com/1577881/imagine-radio-television-home-use#20625930

Example of what IMF is talking about is Lagos and revenue generation and social development.

Lagos is far more solvent than Anambra or even Nigeria. It remains a model.

Those who made Lagos successful should step forward and advance Nigeria forward.

Nigeria is very important to Africa and its failure is unacceptable.

It is clear, did you not get the message IMF is hinting at?
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Nobody: 6:05am On Aug 11, 2022
If we don't get it right in 2023 we are finished. God please help us to get it right. Give us Peter Obi to make Nigeria great again
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by blackmantis: 6:06am On Aug 11, 2022
A wasteful government that lacks ideas on how to spend money to generate revenue but only knows how to borrow and loot in the name of feeding 1billion school children and giving the money to the poorest of the poor.

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:07am On Aug 11, 2022
Christian36:
Tell that to your brothers in London and other countries. Beside we work for our money and don't hold anybody anything.

grin
Dont get mad now. Na you open conversation.
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:10am On Aug 11, 2022
Lapilolo:


Your head no correct undecided Your Tinubu couldn't share his wealth of experience with the idiot in Aso Rock for the past 7yrs + Na now day break abi ?? No more president ruling this country from sick bed, Nigeria and Nigerians deserve better than Tinubu and his Godforsaken evil Apc. The idiot has his political "godson" in Aso Rock all this years(7yrs +) what policy has he advise to be implemented all this while??

Tinubu, President of Nigeria & Biafra.

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Nobody: 6:10am On Aug 11, 2022
ImperialYoruba:


Example of what IMF is talking about is Lagos and revenue generation and social development.

Lagos is far more solvent than Anambra or even Nigeria. It remains a model.

Those who made Lagos successful should step forward and advance Nigeria forward.

Nigeria is very important to Africa and its failure is unacceptable.

It is clear, did you not get the message IMF is hinting at?


No be only solvent. Inspite of raising taxes indiscriminately thereby increasing IGR, Lagos which is the smallest state in the country by landmass still has the highest debts by far among the states in Nigeria, both local and foreign debts, from 1999 till date.

It is wicked to raise taxes from people's sufferings and then misuse it. It is wicked.

Now, future generations have the burden of debts, ironically for a state that generates the most. Shame

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Elidrisy20: 6:10am On Aug 11, 2022
World Bank why una dey disturb us nah? Na only us they this world,make una go Russia or Ukraine,make una leave us alone

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by everythinggirly(f): 6:16am On Aug 11, 2022
Buhari has destroyed us completely.

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Christian36: 6:17am On Aug 11, 2022
ImperialYoruba:


grin
Dont get mad now. Na you open conversation.

I don't get mad with people like you that are paid to support Mr billion vans, rather I see it as an opportunity to liberate you guys from mental slavery. A man that operate two billion vans on broad daylight is telling you to support his candidacy as president and you accepted, now I know that majority of you guys shouting corruption during Gej regime were all hypocrites.

2 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by smartemperor042: 6:17am On Aug 11, 2022
Shame on you!


ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by FireUpNow(m): 6:17am On Aug 11, 2022
Buhari, Tinubu and APC condemned PDP and Jonathan's govt saying that fuel subsidy was a scam and nothing like that existed. Move forward to 2022 now who is the liar? I am pained that Nigeria s believes the wicked lies of APC and I foresee the same mistake doing deja vu
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by mycar: 6:21am On Aug 11, 2022
ImperialYoruba:


Example of what IMF is talking about is Lagos and revenue generation and social development.

Lagos is far more solvent than Anambra or even Nigeria. It remains a model.

Those who made Lagos successful should step forward and advance Nigeria forward.

Nigeria is very important to Africa and its failure is unacceptable.

It is clear, did you not get the message IMF is hinting at?
Show me one seaport in Anambra, take away sea port in Lagos and Lagos will turn to kastina. and don't tell me that Tinubu built Lagos because Lagos is not Tinubu's home state, charity they say begins at home and what has he done for his state?
As the first civilian governor in this 3rd republic, he allocated to himself a larger part of Lagos economy and you want him to replicate it in the country. Kindly think it through.

If Tinubu has anything to offer, he is the chieftain of the party, he supported Buhari twice, meaning he believes in Buhari, so if that's his sense of judgement. I am not a party to it.

2 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Nobody: 6:22am On Aug 11, 2022
World bank is telling us that our subsidy costs are rising to a point where they are eating into our budget for other things.

So, the solution is simple...remove subsidy. Meaning that petrol would go up....which is what most Nigerians do not want. Does not matter who puts up subsidy removal, Nigerians do not want it.

At the end, subsidy has to go. Otherwise, it would make life difficult for all.

(Will not be arguing about this.....again.)
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Staphylococcus: 6:25am On Aug 11, 2022
datola:
Remove the scam subsidy. Decrease VAT rate to 5%. Simple as ABC


Removing subsidy is a very good idea, but when you think about the impact on the average Nigerian, it is very scary! It definitely will pay off in the long run, but before then, a hardship never seen before will hit Nigerians

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Okobola146: 6:26am On Aug 11, 2022
And the useless man that called himself our president boughted brown new cars for Niger Republic that they said worth about 0ne point four billion naira at the expense of Nigeria. Buhari is the reason I won't vote for Tinubu.

Daddyyin take note
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:28am On Aug 11, 2022
mycar:

Show me one seaport in Anambra, take away sea port in Lagos and Lagos will turn to kastina. and don't tell me that Tinubu built Lagos because Lagos is not Tinubu's home state, charity they say begins at home and what has he done for his state?
As the first civilian governor in this 3rd republic, he allocated to himself a larger part of Lagos economy and you want him to replicate it in the country. Kindly think it through.

If Tinubu has anything to offer, he is the chieftain of the party, he supported Buhari twice, meaning he believes in Buhari, so if that's his sense of judgement. I am not a party to it.

It is very clear in that message, IMF wants someone who knows what they are doing and has good grip on progressive economy and security to help stabilize Nigeria's solvency for benefit of regional security and economic viability.

Only one candidate has the experience and know how, Tinubu!

IMF is using backdoor to vouch for him.

1 Like

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Letmehearword: 6:28am On Aug 11, 2022
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Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by mycar: 6:31am On Aug 11, 2022
29kobo:
World bank is telling us that our subsidy costs are rising to a point where they are eating into our budget for other things.

So, the solution is simple...remove subsidy. Meaning that petrol would go up....which is what most Nigerians do not want. Does not matter who puts up subsidy removal, Nigerians do not want it.

At the end, subsidy has to go. Otherwise, it would make life difficult for all.

(Will not be arguing about this.....again.)
All we need is effective government that will be able to determine the exact amount we spend on fuel importation, the exact quantity, the amount is always inflated just like contracts.

This the only reason I am supporting Peter Obi, he involves himself in the contract negotiation, he does not award contract based on tribal sentiment, he goes for the best deal, he scrutinises every transaction to make sure his state is not cheated out. That was how he saved money,
He doesn't spend anyhow, No wastage of fund, He sees a problem and look for solution which i believe Tinubu was good at but he may not have the strength to do them now and when you rely soo much on others just like Buhari is doing, the whole country will suffer.
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by darediamond(m): 6:36am On Aug 11, 2022
ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence
A ND how as your so called Tinubu Upliftment of Lagos Economy transformed POSITIVELY THE STANDARD OF LIVING OF LAGOSIANS EXPECIALLY THOSE ONES WHO LIVES IN WHERE THEY REALLY DO NOT LIKE E. G. Makoko?

It is only a foolish man that Promotes Capitalists and Political Jobbers.
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by mycar: 6:37am On Aug 11, 2022
ImperialYoruba:


It is very clear in that message, IMF wants someone who knows what they are doing and has good grip on progressive economy and security to help stabilize Nigeria's solvency for benefit of regional security and economic viability.

Only one candidate has the experience and know how, Tinubu!

IMF is using backdoor to vouch for him.
Not Tinubu my dear, everything points at Peter Obi because Tinubu is part and parcel of this administration and Buhari said it unequivocal that wherever his party goes , that's where he will go after been criticised for earlier saying that he belongs to everybody and to nobody and subsequently, he made the 5% comment, so tell me, is APC trying to save Nigeria from APC? Is Tinubu going to work with a team different from that of Buhari and who are they?
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by surgical: 6:38am On Aug 11, 2022
adioolayi:
I strongly believe President Buhari will fully remove fuel subsidy immediately after 2023 elections..

Once the winner is declared..

He will remove it and face the backlash..

Elections would have come and gone...so the fear of instability and masses unrest beyond control won't be there.


We will suffer it...but, it's the best for this country.
I don't understand how people reason subsidy cannot be removed it will always be there except we do the needful which is build refineries ,the talk about subsidy portrays us as dumb people, solution is refinery
Without refinery there will be perpetual increase in price which will increase poverty and hardship because the variables are not in your control
Exchange rate, international prices, including freight charges
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:39am On Aug 11, 2022
Christian36:
I don't get mad with people like you that are paid to support Mr billion vans, rather I see it as an opportunity to liberate you guys from mental slavery. A man that operate two billion vans on broad daylight is telling you to support his candidacy as president and you accepted, now I know that majority of you guys shouting corruption during Gej regime were all hypocrites.

The man without bullion van
who mismanaged the state Ibos left behind to escape poverty is worse than the bullion van man who has managed a state that accommodates fleeing Ibos looking for survival and liberty.

2 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Doyou2019: 6:39am On Aug 11, 2022
ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence

You left out the part where Tinubu asked the FG to print more Naira notes grin

Oniyeye!
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by hekola: 6:39am On Aug 11, 2022
ImperialYoruba:


Tinubu already issued same advisory to government very recently.

Tinubu continues to highlight risk areas and advise on policies that global institutions agree with and back.

Tinubu uplifted Lagos economy, Obi sank Anambra economy.

Vote success
Vote credibility
Vote competence
you guys should just keep quiet and stop being so foolish.. which Lagos economy did tinubu uplifted? If you are not daft, don't u know a state like Lagos has been governing itself from time immemorial? Or you don't sense?.
Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by ImperialYoruba: 6:42am On Aug 11, 2022
hekola:
you guys should just keep quiet and stop being so foolish.. which Lagos economy did tinubu uplifted? If you are not daft, don't u know a state like Lagos has been governing itself from time immemorial? Or you don't sense?.

Why couldnt Anambra govern itself?

2 Likes

Re: Fuel Subsidy: Nigeria Facing Existential Threat, World Bank Warns by Nobody: 6:42am On Aug 11, 2022
mycar:

All we need is effective government that will be able to determine the exact amount we spend on fuel importation, the exact quantity, the amount is always inflated just like contracts.

This the only reason I am supporting Peter Obi, he involves himself in the contract negotiation, he does not award contract based on tribal sentiment, he goes for the best deal, he scrutinises every transaction to make sure his state is not cheated out. That was how he saved money,
He doesn't spend anyhow, No wastage of fund, He sees a problem and look for solution which i believe Tinubu was good at but he may not have the strength to do them now and when you rely soo much on others just like Buhari is doing, the whole country will suffer.

The truth is, we will never get a government that determines the exact amount we spend on fuel imports and quantity...because the fact is, the main problem with subsides is that the cost is going up because the cost of the raw material...crude oil...is sky high. Once that happens, the amount of money we spend to keep prices low...rises. It has gone up from 2 trillion last year, to nearly 6 trillion this year alone...because oil went up.

Also, because a subsidy is in place, we do not have enough investment in domestic refining due to the fact that prices are kept very low below the cost of production (the government pays the difference...the subsidy). Even Dangote...if Dangote is not allowed to sell fuel at market price...his refinery would collapse.

Also, fuel costs N174-86 HERE. In all our neighbours it is at least N350 and above. Unless we shut down our borders and man them with a million armed guards and soldiers....and have drones ready to shoot any tanker crossing the border...people...business entities and small people..ordinary Nigerians...are going to keep smuggling fuel.

Removing subsidy would not only end government waste in form of subsidy, it would also attract more investment in terms of refineries, and more jobs. It also means that importers would source for their dollars to import...instead of government dashing them dollars, and it would end smuggling since rise in prices would make it unattractive to smuggle fuel to neighbouring countries...

It has been repeated over the years that we have to remove subsidy and the same arguments you use have been used against it over and over again. Meanwhile , we have to make a hard choice now.

2 Likes

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