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Nairaland Forum / Nairaland / General / Politics / The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju (12239 Views)
Now That Subsidy Is Gone, What Is The Plan? - Babajide Fadoju / Tinubu And Modernisation Of Public Transportation In Lagos - Babajide Fadoju / Lagos Today: Like Tinubu Like Sanwo-Olu - Babajide Fadoju (2) (3) (4)
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Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Naijanascam: 5:15pm On Jun 21, 2023 |
6 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by crazygod(m): 5:17pm On Jun 21, 2023 |
nairalanda1:I repeat, Gullible Nigerians. The guy (Dangote) will rather make profit and sell petrol at Dollar rate and international market rate. He is a business man after all. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Akwamkpuruamu: 5:18pm On Jun 21, 2023 |
Flets: The citizens are the one to make sacrifice for a better Nigeria but not our political office holders. They're making mockery of the leadership by example old cliché. Zonebs and their lives eeh.... 2 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Akwamkpuruamu: 5:19pm On Jun 21, 2023 |
Wawelexy: Nothing good comes easy but politicians are getting it easier with increasing emoluments and remuneration while the masses are getting more impoverished. That's the administration you voted for right? No reduction in cost of governance but reduction in citizens welfare 2 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by bigiyaro(m): 5:20pm On Jun 21, 2023 |
When Dem go still thief the money |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:21pm On Jun 21, 2023 |
crazygod: Oga, if you were a businessman, do you expect to sell at a profit, or at a loss? The refinery needs to make a profit so that Dangote has money to pay for refinery maintenance (remember government is not paying his maintenance costs), pay staff a super competitive salary (remember the staff all expect to be paid good and better salaries, or they jakpa) and pay taxes (which government would raise...see how Kogi is running after Dangote for tax on his cememt factory) and so on and so forth. Simple economics...profits must be made. Disobeying the simple rules of economics is why NNPC lost its 4 refineries, why they are thtowing away millions on maintaing the refineries, and why we are importing fuel from aborad. If you don't like it, you can go into politics, change the system, and force Dangote to sell fuel at N10 a liter. 1 Like |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Akwamkpuruamu: 5:21pm On Jun 21, 2023 |
OLOKOESHIN: Propaganda won't reduce tuition fees, won't reduce the cost of foodstuffs neither will it reduce the cost of governance wherein your politicians live off the earnings of the masses 3 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by XY23: 5:23pm On Jun 21, 2023 |
"Renewed hope for politicians" "Renewed shege for the masses." #copied 2 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Dougad: 5:24pm On Jun 21, 2023 |
OLOKOESHIN: People like you na proper mumu Where is the lie in the writeup? Was the reality of life too negative for you that you chose to give yourself positive schizophrenia in order to avoid the truth? 1 Like 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:25pm On Jun 21, 2023 |
Akwamkpuruamu: On the other hand, keeping subsidy would mean that we end up spending all our oil revenue, plus loans , plus more loans on making up the difference bettwen the actual cost of fuel, and the subsidised price. And when we reach that point, we would be so broke, that if you think you are suffering now, we would be in an even worse state then. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by crazygod(m): 5:27pm On Jun 21, 2023 |
nairalanda1:Are you sure you meant to quote me? Because you just contradicted the reason why I quoted you. Is Nigeria the only country buying petrol? He can decide to export his petrol to neighbouring countries that will buy at the price he is setting. You talked about Economics, well Dangote refinery will become a monopoly..... Meaning he will be a price giver. If he decides to sell in dollars, who are you to question him? |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:28pm On Jun 21, 2023 |
crazygod: Are you still eating lasagna every night? |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Akwamkpuruamu: 5:29pm On Jun 21, 2023 |
nairalanda1: Reducing the cost of governance, plugging financial loopholes and cutting corruption decisively, getting the accurate daily consumption of pms in Nigeria, will make us save enough that borrowing will be so minimized |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Poske95(m): 5:29pm On Jun 21, 2023 |
Guyman01: I second this 2 Likes |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by crazygod(m): 5:31pm On Jun 21, 2023 |
nairalanda1:Sorry. I eat Garri and groundnut. Way more nutritious than your lasagna. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Minjim: 5:33pm On Jun 21, 2023 |
The cabals in the corridors of power are still in charge |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:33pm On Jun 21, 2023 |
Akwamkpuruamu: Yes, you are very very right. But you see, the problem with subsidy is simple....the cost of subsidy rises year in and year out with the rise in the cost of producing oil. So, the more and more the cost of subsidy rises, the more we spend of our oil revenue. That has an impact on our budget, and that creates a deficit...a hole...that can be filled up by loans. (One of several reasons why we take loans). At the end, subsidy cost is higher than revenue. At that point prices have to rise to cut the cost of subsidy...or it has to go completely. We have been raising prices to cut the cost of subsidy since the 1970's. It is now we are removing it because Nigeria is approaching danger level...where subsidy costs outstrip revenue from oil. When that happens...we quite literally run out of money. If you think it is bad now, imagine the coffers completely bone dry...and we still have to pay for subsidy. 1 Like |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:34pm On Jun 21, 2023 |
crazygod: No, you eat caviar actually. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by soccerlite: 5:34pm On Jun 21, 2023 |
Keytruth: No money lost before It gives the executive more money to spend instead of borrowing it The legislature are already receiving theirs Allocation sharing will improve too |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Innomama7(m): 5:35pm On Jun 21, 2023 |
nairalanda1:ask him the subsidy they remove from diesel and kerosene what did they use it for? 1 Like |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:36pm On Jun 21, 2023 |
Keytruth: Precisely....the elephant in the room. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Electorate: 5:38pm On Jun 21, 2023 |
post=123946910: See this one, your former darling daddy bubu messed up the country and bala blu bulaba vowed to continue where bubu stopped...renewed hopelessness... 1 Like 1 Share
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Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by soccerlite: 5:38pm On Jun 21, 2023 |
Guyman01: Thumbs up 2 Likes |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:38pm On Jun 21, 2023 |
Innomama7: To pay for fuel subsides , you know. If they were not removed in 2013, by now our total subsidy cost for this year would be somewhere around 6-10 trillion naira for the first 6 months..if not more. We would be paying all our oil earnings, plus loans to pay for the subsidy. Asking me rhetroical questions does not change that fact. There is a good reason why GEJ removed subsidies on kerosene and diesel...by 2011, subsidies on diesel and kerosene plus petrol were eating over 60% of our total revenue for that year. |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Flets: 5:39pm On Jun 21, 2023 |
nairalanda1: Hahahaha, you have no clue. The NNPC/ Dangote refinery agreement is there in the open. Crude will be sold to Dangote at the prevalent global market price in USD while refined product price will follow global prices at the prevalent exchange rate. Dangote ain’t giving you any cheap pms. You will only save shipping cost but Tinubu already plans to reintroduce that cost to Nigerians through taxes. Do your research 3 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by Agbegbaorogboye: 5:41pm On Jun 21, 2023 |
Guyman01:He's an Osinbajo lapdog. The Tinubu goons don't give a flying Bleep about him. He's presently jobless 3 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by nairalanda1(m): 5:42pm On Jun 21, 2023 |
Flets: Thanks, I already know all that. There is some discussion about selling to Dangote in naira....the naira equivalent of what the international price of crude oil is at that time. It won't lead to a reduction in fuel prices, and I don't expect it to. After all, it is business. People have to make money (the last time price controls across the board were tried...in former communist countries...they all collapsed, or became capitalist. North Korea is the only country where price controls are a way of life, and the black market there thrives. People love to make money...rule no 1 of human beings) And fuel costs money to produce......expecting cheap fuel is like me dreaming that I married the last 5 winners of Miss Universe last week. Refining, transporting, etc, e dey cost money well well. Even with the subsidy, we were still paying high prices. In the form of loans and more loans. 1 Like |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by VeeVeeMyLuv(m): 5:43pm On Jun 21, 2023 |
The salaries you guys are paying is already long obsolete and outdated Please review salaries upward by atleast 200% in tune with the present realities of today 2 Likes 1 Share |
Re: The Imperatives Of Fuel Subsidy Removal By Babajide Fadoju by LikeAking: 5:45pm On Jun 21, 2023 |
In the next 6 months we will know if the president has done well or not. 2 Likes |
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