Blackdeewhy:
Till this very moment, I find it difficult to know that an average guy in Rivers state boil/ produce petrol from crude oil (bunkering).

Yet our federal government CAN'T to make life easier for it's citizens.

Can somebody please explain to me?

The same people who steal and bunker oil are the ones sabotaging the refineries. Nigeria is complex. You can never get to the bottom of our problems sometimes.

Divoc19:
Let them bring it on. We are ready for anything . Am optimistic about this new government though

What Divoc are you talking about?

Expect anything good from the senile old corrupt and greedy drug trafficker from Guinea at your own peril.

Why not revived our refineries first , before removing the subsidy ?

They no wan tell us why we can't have our own refinery

Nigerians una never see anything, all of una go suffer!

Bfly:
Looking at how subsidy removal may cause hyper-inflation what is the possibility of those lesser Nigerian currency surviving because fuel at almost 750/litres may aswell wipe out #20 downward. This subsidy of a thing is getting real.
Imagine life after subsidy removal.

The Currency will go the way of the Zimbabwean Dollar. More Zeros will be added but that won't translate to more value.

As for the Economy, expect massive hyper inflation in the immediate period but things will petered out as times goes.

If you have idle Funds, now is the time to invest them in Real Estate (if you can) if you have idle/fallow Lands/Plots of Land, now is the time to do some small farming.

Once Subsidy is removed, things will get messy.

Nigerians should brace up for high cost of living that will result from fuel subsidy removal because its ripple effect or multiplier effect will impact on goods and services.

We will adjust, people will stop burning and wasting Petrol by accelerating anyhow only to brake after a few meters, people will be more conscious of fuel economy of their vehicles and stop buying v8 jeeps etc etc. most of the subsidy benefits the elite and neighboring countries. Like someone posted Nigeria did not fall with kerosene and diesel subsidy removal and they are the most important fuels for the productive and the poorest sectors of the economy.

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidies decades ago...

But they pay so many subsidies for there citizens, UK for instance care for all the old citizens, pay care companies to take care of them, pay care companies to take care of disability citizens, pay mother of twins, pay all citizens without employment etc.
So please don't compare at all, travel and see.

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

Shut up

Dafresh:

All those advance countries have stable electricity, good health care system good roads everyone is equal

Na percentage of their earnings here them dey pay for there as tax... To enjoy those things... Nigerians wey free free don scatter their head... Stable this and that na free

highchief1:
the guy no get sense.The first thg a sensible govt would have done is to package our refineries.

He supports APC so he don't suppose to reason well

Hmmm at this point, considering the economic situation of the country and the world at large, it is a very difficult and dangerous journey for both the govt and the people. It is a very wrong period with nothing to cushion the effect.
They should atleast, have 2 running refineries in addition to dangote refinery. The economy is in shambles !!

Even in south africa it's about $3 per liter (N2250-- Big Lie!!

I live and work in Dublin and it is less than 2 euros

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

And they used the monies gotten from the subsidy removal to create a stable economy.

1Alex:
My own na to buy bicycle now and keep., because fuel will be regarded as gold after subsidy removal.

After the removal, prices of bicycle will triple.

A lot of delivery firms already use bicycle in lag

Free!

fayomim:


Atleast those countries started somewhere....

You mean for the past 63yrs Nigeria didn't start somewhere?

tunwumi:
Don't just believe everything you read. I can tell you stories the way I want you to see it.

Every economy depends on government spending and every government is run by politician, every politician has a skeleton to hide.

Even Saint America has many things to hide.


In all this, I just hope the lesser evil we are hoping for at least focus on something.

If you read my earlier comment you will see that we have some many questions to asked the STATE Governors.

Many of them are brain dead. They can't run a supermarket profitability.

Either fake or not, someone Promised $1m for each senator to become senate President. That's 743millon naira multiply by 109.

Difrent:


Yes they could have those things because they dont waste billions on petrol subsidy....they instead have effective transport system thats affordable.
The moment we stop petrol subsidy, some of these things will become achievable

Remove subsidy and watch what will happen. Naira scarcity will be a child play

there will be less demand on dollars so DOLLAR RATE WILL be LOWER

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

Most advanced countries have so many things subsidized for their citizens, from health to education even to paying unemployment benefits.

koladebrainiac:
there will be less demand on dollars so DOLLAR RATE WILL be LOWER

Why would there be less demand for the dollar? As long as we are still importing fuel, the demand would always be there subsidy or not.

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

What a pity
Smh

Moh247:
Naira becomes stronger

Eyah . . .

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

@ The bold part.... " Government have surplus to spend when there is a very gigantic debt to service and clear.

koladebrainiac:
there will be less demand on dollars so DOLLAR RATE WILL be LOWER

E go shock you

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

This removal would had been done when we had an honest govt, who had plans to reinvest the proceeds from the removal,

Not now we had a very dishonest living and thieving Govt,

BTW it is well

Acidosis:


Since we are on a conversion spree, do you also know that the minimum salary of a domestic worker in South Africa is R2,929 (N74k)?


nowhere in South Africa is a litre of petrol sold for $3. The correct price is$1.3.

no mind that mumu jor, Las Las everybody go suffer am