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Nairaland Forum / Nairaland / General / Politics / What Might Happen To Nigeria Currency After Subsidy Removal? (42167 Views)
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Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Ykc2(m): 10:29am On Apr 18, 2023 |
tunwumi:🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣keep deceiving your self ,after you go and cue for western embassy to look for visa,anyways if una like make una make shekau una president na una problem I dey austria dey enjoy
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Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Winters23: 10:32am On Apr 18, 2023 |
tunwumi: You sound too enlightened not to know dangote refinery is already on stream, update your knowledge ASAP 1 Like |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by treatise: 10:32am On Apr 18, 2023 |
Bfly:It's N450 max using the dynamics of the past few years 2 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Gaskiya77: 10:32am On Apr 18, 2023 |
The use of bicycle come to mind. That will keep me sportish indeed. 1 Like |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Nobody: 10:33am On Apr 18, 2023 |
uncleck: Keep on Vomiting Nanseense. |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by twosquare(m): 10:34am On Apr 18, 2023 |
Someone with sense since morning. Realguyman1: |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by samsard(m): 10:36am On Apr 18, 2023 |
uncleck:At the bolded, almost everyone uses gas now. Even mai' shayi now uses gas. kerosene doesn't have nearly as much reach and impact as fuel. 1 Like |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Nobody: 10:37am On Apr 18, 2023 |
OperationalVehi: |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by nkemjacob2(m): 10:39am On Apr 18, 2023 |
Divoc19:see this wan |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by sojiadebayo: 10:39am On Apr 18, 2023 |
Difrent: And you think the problem in this country is because there is no enough money abi? I wonder how some people think sef |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by onosbaba3310: 10:42am On Apr 18, 2023 |
blackpanda: Is good when you make comparison, make comprehensive ones, $3 in South African Rand is 54 Rand,one dollar is equal to 18.17 Rand, there is no basis for comparison here Unfortunately you ain't even correct according to recent Below is what south africans pay for fuel
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Re: What Might Happen To Nigeria Currency After Subsidy Removal? by LordAdam16: 10:42am On Apr 18, 2023 |
ChybuzzDD: Subsidy should be removed completely. I do not think you realize how wasteful the subsidy regime is and how it hamstrings the nation's development path. I'll try to keep it short. We're subsidizing gasoline for the West African sub region. We are not that rich. This has created a rent-seeking racket for the suppliers. Additionally, this created a favorable climate for a different racket in the refinery space where we spend billions every year for retrofits, compensation, and what low-volume products that are churned out are subsidized as well. Not to mention the horror show that is our electricity situation. It is allowed to fester because there's subsidized gasoline. The electricity rates are also subsidized to be lower than the already subsidized gasoline price to stay competitive, creating a funding bottleneck for faster development of a sector that is capital-intensive. No one can solve any of these problems in isolation. The only way to halt smuggling at the borders and cut the "consumption rate" is to remove subsidy. You can arrest 100 people involved in these schemes and 100 more will replace them in an hour. Subsidy removal will create the knock-on effects to make this country operate more efficiently. The true cost of subsidy is not 4 TRILLION a year. It's at least double that. The 5K for 10m households World Bank-banked scheme is a disaster. But spending $800m this year so we don't spend $8b per year sounds like a fair deal. Sounds like the only way to push Nigerians off their a$$ to demand better representation is to remove guardrails. I'm all for it. The Nigerian government subsidizes a ton. Tax enforcement is a joke. Education is subsidized. Train tickets are subsidized. I could go on. -Lord 4 Likes 2 Shares |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by karimusa: 10:44am On Apr 18, 2023 |
FORGET ABOUT DANGOTE. HE IS INTO CEMENT AND THE PRICE IS CRAZY HERE AND LESS IN COUNTRIES HE EXPORT TO. HE'S JUST A HUGE SCAM. 3 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Tareq1105: 10:45am On Apr 18, 2023 |
tunwumi: Yes, we expect Dangote refinery to come up to assist and that's why Fed Govt bought into it, and this was achieved by buying 20% of its shares, and signing agreement to sell 650,000 barrels per day of crude oil to Dangote refinery in Naira while Dangote refinery would also sell to Nigeria market in Naira in return and not in Dollars. I can see our currency (Naira) regaining its strength bcoz according to NBS, 65% of our foreign exchange earnings is spent on importation of fuel. In addition, the Tinubu that I know would make a very big difference in the running of the economy. I said this bcoz, right from the time of Obasanjo, Fed Govt watched industries folding up without assisting them to survive. The resultant effect is the unemployment we're witnessing today. Tinubu has recovery plans for our ailing industries and to bring in others to establish industries. May God guide our leaders to the path of a prosperous Nigeria. 3 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by ben1daEbiri(m): 10:48am On Apr 18, 2023 |
What many of you is failing to understand that the major reason for inflation isn't really the increase in price of fuel but our very selfish market women who hike prices and want to make 100% or more profit. Down south we hike things for no damn reason, a #50 increase in fuel results in astronomical increase that's not commensurate with the increase in fuel and further more they make this increase per unit of the item. If we don't become reasonable and help ourselves after subsidy is removed vices like pickpocketing and burglary will be on the increase. 5 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by highchief1: 10:50am On Apr 18, 2023 |
Dafresh:I support apc too but I haven’t lost my senses. |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by DaveHarry(m): 10:53am On Apr 18, 2023 |
Economically most Nigerians don't really understand the technicality of subsidy and how it works. If only there is anyone in NL that will comprehend.... 3 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Donpenny(m): 10:53am On Apr 18, 2023 |
ben1daEbiri:you see those market women . They are the real problem 2 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Jokkarm2: 10:54am On Apr 18, 2023 |
tunwumi: Yes, Government will have lots of money to spend but the questions is will it be spent on education, roads, electricity, security, infrastructural development? or it will still end in the hand of few individuals that will keep enriching themselves ? i wish they will have developmental plans and execution plans for those monies |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by ben1daEbiri(m): 10:56am On Apr 18, 2023 |
pat077: When will we realise that palliative don't take people out of poverty? |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by isio1(m): 10:57am On Apr 18, 2023 |
Just like the way the Dangote Cement Company has helped to control prices of cement in the Country. Forget it bro. 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.[/quote] 1 Like 1 Share |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Nobody: 10:57am On Apr 18, 2023 |
tunwumi: GBAM!!! Alas You have fully awakening to Consciousness and Unplugged from the Matrix. Leave the Duundiees who still believes Jeesus & Mohhammed will Fix Shiiiithole. 5 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by storm001(m): 11:04am On Apr 18, 2023 |
jkpbestseries: They don't want to go down that lain cause that would mean developing the south. North want the south to be under her control. |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by ben1daEbiri(m): 11:06am On Apr 18, 2023 |
Donpenny: It seems they have a union that decide how much increase in price of a commodity in a month. The increase isn't a one off, they do it incrementally so people still buy without paying much attention to it. This method helps them to attain their goal to make an increase within a minth for any commodity for as much as they want. Let's say they want to increase price of a commodity from #2000 to #2500, they know people will kick again that or not buy at all so they increase the price by #100 or so every market day; by the end of the month they commodity will be at #2500. This tactic is the reason why so many commodities in the market increase almost everyday. Like I said if the market women don't become reasonable they'll also be affected as people won't even have enough to buy these items, just like what's happening to poultry farmers with eggs. Again we need to help ourselves, dark times ahead 2 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Ogbeniomo: 11:09am On Apr 18, 2023 |
tunwumi:But it will make more sense if we build our own refinery. |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by kolasoft: 11:10am On Apr 18, 2023 |
We will try to endure it because it favour rich most if come to worst we will lap inside bus even with unknown kinsmen |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by isio1(m): 11:10am On Apr 18, 2023 |
Just like the way the Dangote Cement Company has helped to control prices of cement in the Country. Forget it bro. tunwumi: |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by HIPROFILE(m): 11:10am On Apr 18, 2023 |
A loaf of bread go be like #2000. |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Nobody: 11:11am On Apr 18, 2023 |
Dafresh: Their good health care system isn't affordable. No point in the good health care system when you are in debt to the tune of $125k because you had ankle injury and you had to do a surgery. Don't pray to have Heath issue in These countries. My 1 cent 2 Likes |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by blacksam01: 11:12am On Apr 18, 2023 |
BigIyanga: the stuffs are in stages, op wanted yo know just about value of currency....so u failed the exam.... |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Jokerman(m): 11:15am On Apr 18, 2023 |
1Alex: So you no go chop? Na only bicycle 🚲 you go dey ride abi? |
Re: What Might Happen To Nigeria Currency After Subsidy Removal? by Nobody: 11:15am On Apr 18, 2023 |
Ykc2: LoL. Austria! You no see better country go. Nigerians and inferiority complex. Na Dem you go see using another man's country to buga, like "I'm in the abroad, you're in Nigeria, I'm better than you" mofos |
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