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Fuel Subsidy Expenditure From 2005 To 2022 - Politics (2) - Nairaland

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Re: Fuel Subsidy Expenditure From 2005 To 2022 by TEendurance: 9:04pm On Jun 06, 2023
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Re: Fuel Subsidy Expenditure From 2005 To 2022 by ogify1(m): 9:04pm On Jun 06, 2023
Sirchiboy:
Who go dash me 1m to start business
LAPO

1 Like

Re: Fuel Subsidy Expenditure From 2005 To 2022 by wellmax(m): 9:05pm On Jun 06, 2023
Corridon:
The question is: Will Bola use the money saved from subsidy to improve the life of average Nigerian and make our country a better place for everyone or will he loot it dry through alpha beta and Iyaloja general?

That is the fallacy. No money was paid for subsidy, it's all debt. The removal will stop the debt at initial instance, before building wealth on the long run. So don't expect magic.

https://www.thecable.ng/fg-owes-nnpc-n2-8trn-spent-on-petrol-subsidy-says-kyari/amp

2 Likes 1 Share

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Wealthoptulent(m): 9:05pm On Jun 06, 2023
shortgun:
God will punish Tinubu

Now we know u have Disorder
Or Autism keep repeating same thing

Na tinubu run the sheet years ?
Instead make u curse politicians generally n the citizen they have been using to reck us.
N still same u people crying for the Removal, shows many of these Anti-BAT her short sighted in Wisdom n Myopic.

1 Like

Re: Fuel Subsidy Expenditure From 2005 To 2022 by ednut1(m): 9:05pm On Jun 06, 2023
I dont believe this. If we spent 4 trillion last year. How come this figure is just double abeg abeg

https://www.reuters.com/business/energy/nigerias-nnpc-spent-10-billion-fuel-subsidy-2022-2023-01-20/#:~:text=ABUJA%2C%20Jan%2020%20(Reuters),blamed%20for%20dwindling%20public%20finances.

1 Like 1 Share

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Incrediblekutty(m): 9:06pm On Jun 06, 2023
Corridon:
The question is: Will Bola use the money saved from subsidy to improve the life of average Nigerian and make our country a better place for everyone or will he loot it dry through alpha beta and Iyaloja general?





None of your fucking business. Arindin

1 Like

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Airdrophunter(m): 9:07pm On Jun 06, 2023
solmusdesigns:
shocked



Wow


I went to eat at a mama put and some women got talking

The normal Ibadan hood women, traders and vendor

They said in their Neighborhood Yahooboys won't let them rest with the Sounds of Generator from morning till night as they don't work, and they also go clubbing disturbing them at night

They said with subsidy removal least the money would go to power generation for the whole country and other infrastructure

If these women could understand its Economic importance, I wonder why some educated folks are against it, especially the NLC boss


Nigeria has over 11,000 Abandoned Projects

Fix Ajaokuta with USD 1.2billion and Nigeria would become a manufacturer of steel-based products





.

It's not like they don't understand or like it, but the wrong person is implementing it for them.

They simply don't like the government.
Re: Fuel Subsidy Expenditure From 2005 To 2022 by LivingSage: 9:07pm On Jun 06, 2023
angry

Shameless begger
Corridon:
The question is: Will Bola use the money saved from subsidy to improve the life of average Nigerian and make our country a better place for everyone or will he loot it dry through alpha beta and Iyaloja general?

1 Like

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Darnell9(m): 9:07pm On Jun 06, 2023
*yawns*una still dey learn 9ja politicians maybe this subsidy removal na just new update

1 Like

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Sirchiboy: 9:08pm On Jun 06, 2023
ogify1:

LAPO
.
Daddy you go sign for me
Re: Fuel Subsidy Expenditure From 2005 To 2022 by phabulux: 9:09pm On Jun 06, 2023
obembet:
Nigeria has spent ₦16.6 trillion ($81.4 billion) on fuel Subsidy from 2005 to 2022.



Source: https://twitter.com/StatiSense/status/1666133252535463956?


7.9trn

t=mSmfy3RHm1dZYO80Zs_KIg&s=19

Re: Fuel Subsidy Expenditure From 2005 To 2022 by simfrost90210: 9:09pm On Jun 06, 2023
Corridon:
The question is: Will Bola use the money saved from subsidy to improve the life of average Nigerian and make our country a better place for everyone or will he loot it dry through alpha beta and Iyaloja general?

Stop dreaming, my brother!
They only subsidized their pockets.
Bola Tinubu will do worse than he did in Lagos and worse than he left Lagos all these years!!! People just don't know how heartless he is..🙄

2 Likes

Re: Fuel Subsidy Expenditure From 2005 To 2022 by kozmokaz(m): 9:10pm On Jun 06, 2023
N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.


check the figure again and use the exchange rate as at then and now


You gonna see the nonsense statistics they dished out

2 Likes 1 Share

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Gamesmart: 9:10pm On Jun 06, 2023
obembet:

2005—2006: ₦608bn ($4.65bn)
2007—2009: ₦1.37tn ($11.3bn)
2010—2014: ₦6.68tn ($42.2bn) Jonadaaft's government extra-ordinary looting fest
2015—2022¹: ₦7.95tn ($23.3bn)

OBJ = $4.65bn per year
Yaradua = $5.65bn per year
Jonadaaft = $8.33bn per year
Buhari = $3.33bn per year

That man was so senseless, Nigeria was being looted everyday. At least $3bn per year was being comfortable looted from the coffers.

2 Likes

Re: Fuel Subsidy Expenditure From 2005 To 2022 by Otsam(m): 9:11pm On Jun 06, 2023
In the real sense, buhari's tenure spent the most. Because all of them were removing little from the subsidy. That's why you see that Jonathan moved from 65 to 97 naira meaning ,he removed 32naira from the subsidy. Then buhari from 97 to 145 then 195 meaning he first removed 48 naira then another 50 naira,yet he spent that figure . So, the figures says buhari spent more on subsidy.


N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

3 Likes

Re: Fuel Subsidy Expenditure From 2005 To 2022 by gaby(m): 9:12pm On Jun 06, 2023
Kai...

GEJ regime na yawa sha....

Dude was too docile to rein in the thieves that ran his government down..
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Jayhome24: 9:12pm On Jun 06, 2023
This figures are heartbroken figures pls let subsidy die and never rise again.

Enough is Enough........
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Gamesmart: 9:14pm On Jun 06, 2023
gaby:
Kai...

GEJ regime na yawa sha....

Dude was too docile to rein in the thieves that ran his government down..

Yet, some iiidiots were reminiscing about him.
Re: Fuel Subsidy Expenditure From 2005 To 2022 by N3TRAL: 9:14pm On Jun 06, 2023
Otsam:
In the real sense, buhari's tenure spent the most. Because all of them were removing little from the subsidy. That's why you see that Jonathan moved from 65 to 97 naira meaning ,he removed 32naira from the subsidy. Then buhari from 97 to 145 then 195 meaning he first removed 48 naira then another 50 naira,yet he spent that figure . So, the figures says buhari spent more on subsidy.


Yeah, I've thought about that.
But
The increase in price under Buhari has more to do with the depreciation of the Naira than gradual removal of subsidy. From 150 naira in 2014 to 450 naira in 2022. Without a functional refinery, pms is imported with forex hence the increase in price over the years.
Re: Fuel Subsidy Expenditure From 2005 To 2022 by ogify1(m): 9:15pm On Jun 06, 2023
Sirchiboy:
.
Daddy you go sign for me
dey play
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Pergrace: 9:15pm On Jun 06, 2023
Na wa oh..
The increase in monies spent for subsidy also led to increase in fuel price over the years.
I thought it should go the other way round
Re: Fuel Subsidy Expenditure From 2005 To 2022 by shortgun(m): 9:15pm On Jun 06, 2023
Wealthoptulent:
Omo o lo fa oo




Now we know u have Disorder
Or Autism keep repeating same thing

Na tinubu run the sheet years ?
Instead make u curse politicians generally n the citizen they have been using to reck us.
N still same u people crying for the Removal, shows many of these Anti-BAT her short sighted in Wisdom n Myopic.


But una dey fight him now ontop say e did right thing.. shey wen every thing set in future make we find u, gift u curse.
Instead make u appluad am, agidi ti ba yin je grin
Why did Tinubu fought the right thing in 2012?
Why did they fight Jonathan, occupying everywhere when they knew it was the right thing?
I still remember the casket with Jonathan's name inscribed on it.
What was his reason if not bigotry and tribalism.
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Angelfrost(m): 9:16pm On Jun 06, 2023
I will always take such reports and claims with a pinch of salt!

I'm too mentally evolved to swallow such bullshit!

This doesn't mean I don't believe money is being lost or tossed down the pipe in the name of subsidizing Fuel, Education, and other things!

I just don't believe in numbers thrown out by corrupt and thieving charlatans!
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Judolisco(m): 9:17pm On Jun 06, 2023
PlayerMeji:
Just look at Jonathan's figures..

Wow..

But I know some guys are coming to wail here..
same Jonathan wanted to remove it
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Klington: 9:17pm On Jun 06, 2023
tongue
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Adee247(m): 9:19pm On Jun 06, 2023
obembet:
Nigeria has spent ₦16.6 trillion ($81.4 billion) on fuel Subsidy from 2005 to 2022.



Source: https://twitter.com/StatiSense/status/1666133252535463956?t=mSmfy3RHm1dZYO80Zs_KIg&s=19

And Dangote used $18b to build that refinery... Less than the last figure.. SMH
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Alvin212(m): 9:20pm On Jun 06, 2023
Wealthoptulent:
Omo o lo fa oo




Now we know u have Disorder
Or Autism keep repeating same thing

Na tinubu run the sheet years ?
Instead make u curse politicians generally n the citizen they have been using to reck us.
N still same u people crying for the Removal, shows many of these Anti-BAT her short sighted in Wisdom n Myopic.


But una dey fight him now ontop say e did right thing.. shey wen every thing set in future make we find u, gift u curse.
Instead make u appluad am, agidi ti ba yin je grin
you want the TRUTH?

Jus like u and I [whole NATION] then, we were naive and had no Idea of damages, we were after the Pain of Today [then yesterday] n forgot TOMORROW [ which is Today], so don't let us Risk a FRESH TOMORROW.




Ewedu and Amala thug


Keep fooling around
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Omoawoke: 9:20pm On Jun 06, 2023
Gej spent almost 7 trillion in 5 years shocked
Re: Fuel Subsidy Expenditure From 2005 To 2022 by adeniyi997: 9:20pm On Jun 06, 2023
It's over, that's how I saw this o, are this prices true,ha!

https://www.youtube.com/watch?v=MVdaiuH36b4
Re: Fuel Subsidy Expenditure From 2005 To 2022 by wildernessVoice: 9:21pm On Jun 06, 2023
SUFFERING AND SMILING IN FELA'S LANGUAGE

One of our biggest problems is hypocrisy.
This hypocrisy thrives because of our short memory, unbridled tribalism and chronic nepotism.

Before Jonathan removed subsidy in 2012, he established the Subsidy Reinvestment Committee (SURE-P) headed by Dr. Christopher Kolade , a diplomat, an Academic, an astute administrator and a man of unquestionable integrity.
The Government clearly outlined how the money saved from subsidy will be used for infrastructure, provide transportation, and be invested in healthcare (especially maternal and child care (MCH).
The government through the Minister of Finance (Okonjo-Iweala) and the CBN Governor (Lamido Sanusi) held series of town-hall meetings with organised labour, the private sector, and various other interest groups.

We had already started seeing SURE-P buses and taxis all over the Country.

The then opposition under the leadership of the incumbent President Bola Tinubu and his predecessor, Muhammadu Buhari led and sponsored #OccupyNigeria protests against subsidy removal.
They made the people feel that subsidy removal was a crime and was unacceptable.

The protests continued until the Government had no choice but to reverse the removal of subsidy.

Then we had a stronger economy and a more favourable exchange rate.
Today, the subsidy regime has worsened.

The payment has become unsustainable, the economy in shambles.

The same people who opposed it then are the ones now trying to convince us that it has to be removed.

It's just unfortunate.

#copied
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Angelfrost(m): 9:21pm On Jun 06, 2023
PlayerMeji:
Just look at Jonathan's figures..

Wow..

But I know some guys are coming to wail here..

It's a bit obtuse mentioning Jonathan now, seeing as your sitting President is one of the key people who pressurized, supported and demanded he waste those funds!


Tinubu greatly helped put himself in this quandary he has found himself in office... He helped lay the foundation for the difficulties he is experiencing in office today!

This is me being objective!

If opposition leaders don't realize there is more to opposing than outrightly rejecting everything done or proposed by those in power, then they are not qualified to be in leadership!
Re: Fuel Subsidy Expenditure From 2005 To 2022 by Reference(m): 9:21pm On Jun 06, 2023
N3TRAL:
I'm a bonafide south south boy but let's face it- based on those figures, APC no too chop Nigeria's money.

What Jonathan's administration spent for subsidy for 4 years is almost double what Buhari spent for 7 years.

If you divide Buhari's figure, it is lower than what Yaradua spent in 2 years and what Obasanjo spent in a year.

APC may have its problems but you have to admit that their subsidy figure is the lowest in the history of Nigeria.

The data also shows that Buhari's major problem may not have been misappropriation of funds but he couldn't run the economy well. The percentage the naira fell during Buhari's era is scary.

Though subsidy corruption was at its peak during the Jonathan's regime you have not factored in the price of crude v the retail price of PMS in Nigeria. That ratio will give a better picture. In a nutshell crude prices were much higher broadly across the Jonathan regime as such the subsidy per litre of product will be the highest then.

2 Likes

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