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Nairaland Forum / Nairaland / General / Politics / Peter Obi: Subsidy Must Go, I Will Remove It (18297 Views)
Tinubu: I Will Remove Fuel Subsidy, Your Protests Won’t Stop Me / Peter Obi: We Will Remove Import & FOREX Restrictions / Oil Subsidy Must End, Peter Obi Declares (2) (3) (4)
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Re: Peter Obi: Subsidy Must Go, I Will Remove It by Steveabbeyly: 5:06pm On Jan 09, 2023 |
Stained blood joined them together.
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Re: Peter Obi: Subsidy Must Go, I Will Remove It by tivity101: 5:18pm On Jan 09, 2023 |
ican2020: There is a whole lot of sense in your analysis |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by IbeOkehie: 5:48pm On Jan 09, 2023 |
quentin06: The answers to ALL your questions is VERY EASY. African countries are mainly exporters of raw materials because most of them have chosen to have fixed prices for their currencies and those prices are generally overvalued. That's REALLY all there is to the matter. If you doubt me, THINK of what will happen to Innoson if the naira is floated today. Let's say the naira goes to say, 2500=$1. How many Nigerians will still choose to import tokunbo cars from USA instead of buying new Innoson cars? Then OTHER Nigerian investors will start building car factories to compete. They will create jobs. That is how an economy grows. Again, look at ALL the prosperous countries in the world today. The VAST MAJORITY operate floating currencies. Even the USA that prints the $USD doesn't set a price for it, the price is on the open market. I think Hong Kong is the only major prosperous economic sovereign that has a fixed currency and it has a unique history behind the policy. Fixed currencies are economic suicide pills. This is the MAJOR REASON Nigeria has been mired in poverty for ALL of its history, with only intermittent bouts of growth when crude oil prices shoot up. Now the situation is so bad that even high crude oil prices can't help. Enough of the conspiracy theories abeg. The only one sabotaging Nigeria is the Nigerian people who DEMAND a strong naira so they can easily and cheaply import foreign consumer items without doing much work. Just print naira, claim it's worth 450 to 1 and use it to import consumables instead of working hard to produce your own. 1 Like 1 Share |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by IbeOkehie: 6:09pm On Jan 09, 2023 |
rman: Most important commodities in the world trade on public exchanges. There's nothing hidden. Even something like palm oil or university degrees, do the research and calculations, you will find that the world price reflects what is paid in your local market in Nigeria, after adjusting for the rigged forex market. The price is the price. Somebody MUST pay, Nigerians believe the payer must always be somebody else even if their collective society is destroyed thereby....because they believe they won't be individually affected, because it's "not their portion". Fearyourcreator: You're very correct. The Nigerian people are their own problem. 2 Likes |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Nobody: 7:03pm On Jan 09, 2023 |
IbeOkehie: Will developed countries allow African countries to develop? You re answer is as good as mine. African countries didn't elect to export raw materials by choice, know that. |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by ufotunang: 7:28pm On Jan 09, 2023 |
Build or repair the refeneries and make it to work. before removing fuel subsidy |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by IbeOkehie: 7:46pm On Jan 09, 2023 |
quentin06: African countries can develop if the PEOPLE want to develop. Simple as that. Yes, African countries, including Nigeria, have CHOSEN to export raw materials. It's easy to prove with the fuel market that is the subject of this thread. You will not find any prosperous country where GOVERNMENT owns refineries. Go ahead and show us, I haven't even bothered to look it up, but I know from common sense that NOTHING OWNED or CONTROLLED BY GOVERNMENT works efficiently, it has been proven even in Nigeria. Compare NITEL vs MTN or Dangote Cement vs Benue Cement or NTA vs Channels TV Now why have the Nigerian people CHOSEN to maintain government owned refineries for the past 50 years? That's just a simple beginning of an answer. Care to give a view on the above question? 1 Like |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by IbeOkehie: 8:10pm On Jan 09, 2023 |
ufotunang: No, the first thing to do is completely remove government from dictating prices. Also sell the government refineries. Then investors will build as many refineries as needed. 1 Like |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Offpointng: 12:25am On Jan 10, 2023 |
copyrites: 1 Like |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Offpointng: 12:28am On Jan 10, 2023 |
Wickedfact: |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 3:01am On Jan 10, 2023 |
IbeOkehie: On the other hand..see what keeping subsidy since 1973 has cost us It seems subsidy is the cause of all Nigeria's problems. How is subsidy responsible for all of the above? Can you pls explain? |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 3:03am On Jan 10, 2023 |
benqo01: pls explain how is subsidy an organised crime. is it subsidy that made itself an organised crime? who are the people you say are benefitting from subsidy? are they ghosts? |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 3:06am On Jan 10, 2023 |
obynzo: since you arent in secondary school, how come you couldnt answer the simple questions? On the other hand..see what keeping subsidy since 1973 has cost us It seems subsidy is the cause of all Nigeria's problems. How is subsidy responsible for all of the above? Can you pls explain? |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 3:07am On Jan 10, 2023 |
obynzo:how does the above negate the following? On the issue of fuel subsidy, obi like every other presidential candidate have shown that they are clueless |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 3:09am On Jan 10, 2023 |
obynzo: since you arent dense, can you tell us the meaning of the word "how"? meanwhile, help in answering the following. How did you arrive at your definition of subsidy? How is this the meaning of subsidy...."Subsidy means that we set the price of fuel below what it costs to produce because of poor Nigerians". How is Nigeria importing fuel because of subsidy? How does lack of the profit you talked about cause 1.Sabotage...for more free government money 2.More and more corruption. How do Saudi Arabia and UAE earn far more revenue than we do? |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by abbaashiru(m): 3:20am On Jan 10, 2023 |
A town hall different from |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Nobody: 6:04am On Jan 10, 2023 |
habsydiamond: Didn't you not hear that PO indicated that they would plan before removing it. You guys just jump into conclusions without actually listening because you already have a bias in your minds. 1 Like |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Nobody: 6:06am On Jan 10, 2023 |
CheapHomes1: Dude the more you write epistles the more you sound ridiculous in your argument 2 Likes |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by ufotunang: 7:45am On Jan 10, 2023 |
IbeOkehie:...to first of all stop government from dictating price of fuel... that means payment of fuel subsidy will stop and be removed... then if fuel subsidy is removed without refeneries working and nigeria still import fuel...then prices of fuel will be up to 600 to 700 naira per litre which will increase prices of food stuffs, goods , products, transportation and more suffering and hardship to nigerians... |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by CheapHomes1: 8:19am On Jan 10, 2023 |
obynzo: Can you show me the argument you are referring to? When did questions become the same thing as argument? since you arent dense, can you tell us the meaning of the word "how"? meanwhile, help in answering the following. How did you arrive at your definition of subsidy? How is this the meaning of subsidy...."Subsidy means that we set the price of fuel below what it costs to produce because of poor Nigerians". How is Nigeria importing fuel because of subsidy? How does lack of the profit you talked about cause 1.Sabotage...for more free government money 2.More and more corruption. How do Saudi Arabia and UAE earn far more revenue than we do? |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by IbeOkehie: 9:02am On Jan 10, 2023 |
ufotunang: The world price of petrol right now is max 460. https://www.investing.com/commodities/gasoline-rbob If government stops dictating price then anyone can import and there will be price competition between importers. There's no way the price will be higher than 500 as of today. Impossible. Then investors will ultimately build refineries, which will lead to employment and tax revenue. Which means prices will tend to FALL. That's EXACTLY what happened with telecoms and even cement. Why would anyone think it's going to be different with petrol? Abegi carry go. Yes there will be suffering in the beginning but that is how progress is made in every aspect of life. Thanks. |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by arejibadz(m): 9:42am On May 30, 2023 |
ok |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by oskopy: 9:47am On May 30, 2023 |
Peter Obi cannot remove subsidy with putting things in place.he must do refineries before removing subsidy. We are igbos we know how to do business and succeed. |
Re: Peter Obi: Subsidy Must Go, I Will Remove It by Domainer1999: 11:39pm On Jan 11 |
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