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Nairaland Forum / Nairaland / General / Politics / Fuel Subsidy Removal: How To Become Rich From It (3721 Views)
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Fuel Subsidy Removal: How To Become Rich From It by Fearjah: 7:39am On Apr 24, 2023 |
We should not always be complaining but we can come up with ideas on how to take advantage of subsidy removal and become rich or richer. Let's brainstorm on how to get through this rich or richer. Let's turn a stumbling block to a stepping stone! Please, no complaints here (I'll create another thread for complaints) just think of ideas of what to store or buy or do now to be able to make money when they finally remove subsidy. Many Wise people are bringing in great ideas. Kudos! Ogbono storage may also be a good idea 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by Ebubu2: 7:43am On Apr 24, 2023 |
na to buy fuel and stock up in GP tanks resell when subsidy is removed, or use it jejely till december 8 Likes 1 Share |
Re: Fuel Subsidy Removal: How To Become Rich From It by nairalanda1(m): 7:54am On Apr 24, 2023 |
Hmm, this guy wants to create a massive fire risk for his street. OP, go and open a filling station first. Storing fuel otherwise is an invitation to Hephaestus to do his worst. 18 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by Fearjah: 7:57am On Apr 24, 2023 |
Ebubu2: Please, come up with a better idea, as this one is full of risk to life and property 11 Likes 2 Shares |
Re: Fuel Subsidy Removal: How To Become Rich From It by Ransomtheking(m): 7:59am On Apr 24, 2023 |
How about buying and storing of palm oil 13 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by Obaaderemi2: 7:59am On Apr 24, 2023 |
Start a taxi business. 4 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by PapaGfad: 8:04am On Apr 24, 2023 |
To effectively answer this, we need to first streamline the main areas that will be affected. And without doubt, TRANSPORTATION will be the first sector to take the hit, thereafter a chain reaction across all sector including the oppurtunistic nature of Nigerians. One major venture that I believe will help anyone become rich as a result of d fuel subsidy removal, is urban farming. Or maybe I should say backyard farming in the cities. However, this must be well managed. Transporting food from the rural areas will certainly influence d cost of buying them but with systemised backyard farmers in the cities who may not need to transport their produce before sales, the oppurtunity seems huge. 20 Likes 2 Shares |
Re: Fuel Subsidy Removal: How To Become Rich From It by refugee: 8:09am On Apr 24, 2023 |
Subsidy removal will certainly have a multiplier effect on every area of the economy but majorly transport. 1. Sort electric cars in sales and transport business 2. Go into farming and employ group or communal method of transportation into urban areas 3. Solar power to the rescue. 20 Likes 3 Shares |
Re: Fuel Subsidy Removal: How To Become Rich From It by blackpanda: 8:23am On Apr 24, 2023 |
PapaGfad: Except that u won’t be able to sell in the market. They have union that won’t let u sell below price 2 Likes 1 Share |
Re: Fuel Subsidy Removal: How To Become Rich From It by sonature1: 8:51am On Apr 24, 2023 |
nairalanda1: Petrol can be stored in an underground tank for a long time. That's how they lay filling station tanks. |
Re: Fuel Subsidy Removal: How To Become Rich From It by nairalanda1(m): 8:54am On Apr 24, 2023 |
sonature1: Good, so get one, and then get it approved by NNPC. 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by sonature1: 8:56am On Apr 24, 2023 |
nairalanda1: You don't need NNPC approval. If they are still working, DPR has to approve it. However, I don't think you need any approval for it. |
Re: Fuel Subsidy Removal: How To Become Rich From It by nairalanda1(m): 8:58am On Apr 24, 2023 |
sonature1: So go ahead, and do it.Get it approved by the right authorites. Anything else is just tempting the fire. |
Re: Fuel Subsidy Removal: How To Become Rich From It by Fearjah: 9:06am On Apr 24, 2023 |
Ransomtheking: Are you into palm oil business? Someone told me that It's too late to Store palm oil now? Please what do you think? 2 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by Nobody: 9:14am On Apr 24, 2023 |
Fearjah:...in a sane society, the citizens would be interested in those things that have been put in place by the government before the removal of subsidy and not to take advantage of the situation to enrich yourself...we should be concerned about that man that earns below 100,000 naira and who may possibly be sacked after the removal of subsidy...the removal of subsidy will lead to retrenchment of workers in the private sector... which is joblessness ...and they can't venture into business because of the lack of capital and high cost of entry...many won't be able to afford university education... because take home salary won't be able to take them home...many won't be able to afford medical services because their disposable income has reduced...the problems are too numerous to mention... An increase in the cost of petroleum motor spirit (PMS), diesel, and kerosene is set to bring about inflation and ultimately spiral into every sector of the economy. Your analysis and projection is simple that of an average bush market trader...when the reality hits hard, you will appreciate acquiring a formal education. I am not against the removal of subsidy...but it is simple wickedness and heartlessness to remove subsidy without putting the right things in place. The naira redesign was a good policy, but failed woefully because of lack of proper planning. The government is increasing the salaries of civil servants, does that mean those in the private sector will continue to buy fuel at 210 ? The private sector is the largest employer of labour...don't joke with them ... Subsidy will be removed, but after two or three weeks, it will be reversed. 14 Likes 4 Shares |
Re: Fuel Subsidy Removal: How To Become Rich From It by CodeTemplar: 9:20am On Apr 24, 2023 |
Build a charcoal based Carnot engine and start transportation business with it or start refining crude in small scale in your back yard. As for me, I will simply build petrol vapour condenser and deploy near filling stations and mechanic workshops. 2 Likes 1 Share |
Re: Fuel Subsidy Removal: How To Become Rich From It by CodeTemplar: 9:27am On Apr 24, 2023 |
FromTopToBottom: Two gigantic paragraphs after saying "lastly". Naija state of mind, too many things for the mind. Wahala be like serial TV show for Nigeria. 5 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by MXrep: 9:34am On Apr 24, 2023 |
They will be shouting Jagaban while we make money |
Re: Fuel Subsidy Removal: How To Become Rich From It by CodeTemplar: 9:34am On Apr 24, 2023 |
refugee:Solar, one panel of 200w is about 80k. Who will buy that when you need about 10 to start? Farming is cow food now. Cows are more important than taxpayers. Electric cars are luxury right now to be honest. The removal ought to have been planned well and area directly affected by petrol prices like power, transport, and small business should have been given serious attention long before now. Typical of us, nothing has been prepared but they are planning to borrow and share (with stealing in between) 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by Kiddogarcia(m): 9:57am On Apr 24, 2023 |
Let me sit down here and learn, on the other hand na me be your best plug for everything Sexual enhancement tho. 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by Mystic216: 9:59am On Apr 24, 2023 |
Best and easy way to make money with the subsidy is to buy gallons of palm oil and store for long time and swim in millions Please like my comment so I can come back to this topic 4 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by Whoknow: 10:16am On Apr 24, 2023 |
Mystic216:Please how can palm oil be a subsidiary to fuel, and how can one make money from it? |
Re: Fuel Subsidy Removal: How To Become Rich From It by Mystic216: 10:17am On Apr 24, 2023 |
Whoknow:I’m very busy now I will explain it to you once I’m less busy |
Re: Fuel Subsidy Removal: How To Become Rich From It by Nobody: 10:27am On Apr 24, 2023 |
CodeTemplar: You should be more interested in the message 2 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by Fearjah: 10:43am On Apr 24, 2023 |
What of buying plots of land? Will it quickly appreciate after subsidy removal? 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by Nobody: 11:50am On Apr 24, 2023 |
Fearjah: The removal of subsidy will mean a higher running cost on all household in the country...which will lead to a drastic reduction of disposable income...when there is NO money, the price of land will fall... Some land owners will sell at give away prices just to feed and meet some pressing expenses... 10 Likes 1 Share |
Re: Fuel Subsidy Removal: How To Become Rich From It by Ransomtheking(m): 11:51am On Apr 24, 2023 |
Fearjah:It's not ooo. We are not even into rainy season yet. The person who told you that is he into oil business. Just assume you bought oil now then store it let say subsidy was later removed. Do you know what u'll get from that oil 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by 9jahotblog: 12:27pm On Apr 24, 2023 |
Fearjah:nope 1 Like |
Re: Fuel Subsidy Removal: How To Become Rich From It by neutralmind: 12:53pm On Apr 24, 2023 |
CodeTemplar: Who told you about 10pcs of 200 watts solar panels. Solar is just like a generator. You buy what you need based on your electricity consumption. Like it or not solar is still an alternative and a potential money spinner 3 Likes |
Re: Fuel Subsidy Removal: How To Become Rich From It by LordFriar: 2:31pm On Apr 24, 2023 |
I'm thinking about dabbling into synthetic petrol proudction.. the business plan is ready.. the tech is assured. However to create a MVP, I need some little investment. Get in touch if you think you'll like to get into this. I'll completely explain my process to you. 2 Likes 1 Share |
Re: Fuel Subsidy Removal: How To Become Rich From It by BRIGHTSOLAR(m): 2:34pm On Apr 24, 2023 |
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Re: Fuel Subsidy Removal: How To Become Rich From It by BRIGHTSOLAR(m): 2:35pm On Apr 24, 2023 |
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