Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,165,317 members, 7,860,765 topics. Date: Friday, 14 June 2024 at 03:49 PM |
Nairaland Forum / Nairaland / General / Politics / Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) (31999 Views)
Epe Youths Chase Herdsmen And Their Cows Out Of Their Town (Video) / Abuja Schools Shut Down As A Truckload Of Bandits Arrives Border Town / Smugglers Abandoned Their Bikes And Bags Of Rice In Ogun Bush (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:00pm On Jul 13, 2023 |
nairalanda1: If you say that all past heads of state didn't remove subsidy, how was the price of petroleum products climbing? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by grandstar(m): 5:01pm On Jul 13, 2023 |
nairalanda1: It was a pity that OBJ or GEJ could not end the fuel subsidies. However, GEJ might have done better had he sensitized the need to end it to the public, rather than they wake up on the first day of January 2012 and finding it gone. At that time, it wasn't as discernibly clear as it is now that the subsidy was costing humongous amounts of money to provide. Perhaps, it was Buhari's disastrous "lost decade" that exposed the rot, that made all the 4 leading presidential candidates declare their intention to end it and deregulate the price. Some claim Tinubu and Buhari were hypocrites. For Buhari, his poor understanding of economics that probably got the better of him when he believed there was no subsidy. That was why when it was so obvious without denial that there was and his government was subsidizing the price, his government preferred to use the term "under recovery" than "subsidy." He had the chance in January 2016 to end it once and for all during the most crushing fuel scarcity ever. Even when the price was partially increased and the NLC planned to champion it, there was no public support. Like always he blew the opportunity away. For Tinubu, his understanding of economics isn't that good as well. His proposal to employ 50m persons into the army during his campaign speaks volumes. He might have been sincere about there being no subsidy and he may not have been. 1 Like 1 Share |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:02pm On Jul 13, 2023 |
atobs4real: You were emphatic that fuel subsidy removal has been disaster to neighboring countries. Has fuel Subsidy Removal been a blessing to Nigeria? Yes or no |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by ceejayluv(m): 5:03pm On Jul 13, 2023 |
seunlayi:The same Tinubu camp opossed it.... He's just cleaning up the mess he helped entrench. |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by oluwaseyi0: 5:04pm On Jul 13, 2023 |
megih: Fuel is selling in Nigeria for around 180 per liter and same liter is selling for almost 700naira in Cameroon, Niger, Benin and almost all our neighbouring countries note: the fuel being sold in Nigeria is actaully brought into Nigeria at a price of over 450naira per liter (the government pays the extra of 450-180 = 270) on every liter of fuel consumed, so if we consume 10million liter a day, the government pays (10m * 270) in subsidy a day instead of neigbouring countries to import their fuel from europe and other places Nigeria is importing from at 450 they will simply buy subsidized fuel in Nigeria at N180 then smuggle to Cameroon, Niger, Benin where they can sell at 500 or 600, even some marketer will buy ship of petrol bring into Nigera to claim subsidy, they ship it out to neigbouring country, while some briefcase marketers/politicians will claim subsidy on fuel they never import this is shooting up our fuel consumption and by entension our subsidy payment, it's like we are subsidizing all of west African while the smugglers/looters are making mad profit the first reasonable thing you will think the givernment should do is police our border and fight subsidy fraud but that will always lead to dead end as we have way too many little borders and the profit this people will get is driving them to go beyong all measure 2 Likes |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:05pm On Jul 13, 2023 |
grandstar: How was it not "discernibly clear as it is now that the subsidy was costing humongous amounts of money to provide"? In 2020, Mele Kyari said that fuel Subsidy was totally and completely removed. Which Fuel Subsidy are we still talking about again?
|
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by grandstar(m): 5:10pm On Jul 13, 2023 |
lexy2014: It has been a blessing to the government purse and in extension Nigerians. It simply means less borrowing by the government. That means less public debt in years to come. 2 Likes |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Thomasankara(m): 5:14pm On Jul 13, 2023 |
[/color]just dey play[color=#770077] IconicR: |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:15pm On Jul 13, 2023 |
oluwaseyi0: You claimed that neighbouring countries "buy subsidised fuel in Nigeria at N180". Can you pls explain how neighbouring countries were able to come to Nigeria to buy this "subsidized fuel"? Who were they buying it from? You also claimed after buying this subsidised fuel, the neighbouring countries then smuggle the fuel they bought in Nigeria to their various countries. Pls how did they do this without anyone noticing? You also claimed that "some marketer will buy ship of petrol bring into Nigera to claim subsidy, they ship it out to neigbouring country, while some briefcase marketers/politicians will claim subsidy on fuel they never import". Based on that, is it that marketers just imported whatever quantity of fuel they felt like importing or they imported the quantity of fuel they imported based on orders they received from NNPCL? What are those "too many little borders" that you say are being used to get fuel out of Nigeria? Have you seen any of those borders yourself to corroborate your claims? How is fuel transported across those "little borders" that is now enough to sustain Cameroon, Benin republic and Niger republic? Who are those "smugglers/looters that are making mad profit"? Can you name them? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:17pm On Jul 13, 2023 |
grandstar: How has fuel Subsidy removal been a blessing to the purse of Nigeria? How has the removal of subsidy on kerosene and diesel been a blessing to nigerians so far? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by yommen: 5:17pm On Jul 13, 2023 |
seunlayi: If GEJ knew what he was really doing, he would still have stopped it. It takes a person who can stand his ground to succeed regardless of oppositions. 1 Like |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Anguldi(m): 5:17pm On Jul 13, 2023 |
oluwaseyi0:Now I know why Emir Sanusi said all subsidy claims should be cross-checked with ships that berth in Nigeria. Our corruption choke 1 Like |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by DaddyCoool: 5:17pm On Jul 13, 2023 |
Abemy: They only remember this when there is bad news about subsidy removal! If it is any type of somewhat good news, then its TINUBU who removed it!! |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by emonis88: 5:18pm On Jul 13, 2023 |
Fuel subsidy this ,fuel subsidy that, abeg I wan ask one question. How many of una refineries dey work?π₯±π₯±π₯±π₯± |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Anguldi(m): 5:21pm On Jul 13, 2023 |
lexy2014: Anguldi: |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by yommen: 5:21pm On Jul 13, 2023 |
SmartPolician: GEJ was too soft ni. If not, he would have succeeded. By the way, there was no much enlightenment as it is now. They at that level know better and should act better. |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by starstaz(m): 5:21pm On Jul 13, 2023 |
Reminding Olodo about our history cum Gej subsidy removal. The following parameters 1) Half of the population accepted that subsidy must go, particularly the elite. I am one of those that opposed it 2) There were series of debate on why subsidy must let go on TV. Open debate. Oshiomole/ Falana vs Sanusi/ okonjo/Minister of petroleum 3) All these robust debates happened in 2011 4) Wrong Foot, Wrong Strategy: The president remove subsidy on January 2nd 2012. This was a time everyone was observing their holiday in their village in all corners of Nigeria . Those who are worse hit were those city dwellers and civil servants that were observing their vacation in their country home. The analysis then was that , the president action amount to wrong timing: January,is when family will pay school fees and people have exhausted their savings during this period while celebrating the new year but the masses would not mind if subsidy was removed in February or any other months apart from January 2nd to be specific. This is the history. |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Anguldi(m): 5:34pm On Jul 13, 2023 |
lexy2014:Read this https://www.thisdaylive.com/index.php/2022/10/16/sanusi-expresses-deep-sympathy-for-next-president-says-petrol-subsidy-depleting-economy |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:36pm On Jul 13, 2023 |
Anguldi: How does your link answer the questions I asked? If it does, kindly use the information in d link to answer my questions. You claimed that neighbouring countries "buy subsidised fuel in Nigeria at N180". Can you pls explain how neighbouring countries were able to come to Nigeria to buy this "subsidized fuel"? Who were they buying it from? You also claimed after buying this subsidised fuel, the neighbouring countries then smuggle the fuel they bought in Nigeria to their various countries. Pls how did they do this without anyone noticing? You also claimed that "some marketer will buy ship of petrol bring into Nigera to claim subsidy, they ship it out to neigbouring country, while some briefcase marketers/politicians will claim subsidy on fuel they never import". Based on that, is it that marketers just imported whatever quantity of fuel they felt like importing or they imported the quantity of fuel they imported based on orders they received from NNPCL? What are those "too many little borders" that you say are being used to get fuel out of Nigeria? Have you seen any of those borders yourself to corroborate your claims? How is fuel transported across those "little borders" that is now enough to sustain Cameroon, Benin republic and Niger republic? Who are those "smugglers/looters that are making mad profit"? Can you name them? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by grandstar(m): 5:44pm On Jul 13, 2023 |
lexy2014: What was the price of crude oil then is what is key. Let me use this illustration. Imagine you sell a bag of cement for 6,000. At that time, the price elsewhere was 5,000. Since there was huge demand for it at that price, you still kept your price. You now decide that for the next 5 years, you will rigidly maintain the price, no matter what comes. Now by the 4th year, the market price is 8,500/bag. To sell at N6000, you would making a loss of N2,500. In order to sell at 6,000, you'd have to subsidize it by 2,500. So, initially at 6,000, there was a surplus of N1,000. Now at 8,500, there's a subsidy of 2,500. April 2020 was during the time of the lockdowns, economic activity collapsed worldwide. The price of crude oil fell below $10/barrel. At that price, there won't be a subsidy. 1 Like 1 Share |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Anguldi(m): 5:44pm On Jul 13, 2023 |
lexy2014:It answers some of your questions, make I spoon feed you? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:48pm On Jul 13, 2023 |
Anguldi: If you can't spoon feed yourself, how do you want to spoon feed some other person? Kindly answer the following questions based on the information on your link if you actually think your link has any answers. 1. You claimed that neighbouring countries "buy subsidised fuel in Nigeria at N180". 2. Can you pls explain how neighbouring countries were able to come to Nigeria to buy this "subsidized fuel"? Who were they buying it from? 3. You also claimed after buying this subsidised fuel, the neighbouring countries then smuggle the fuel they bought in Nigeria to their various countries. Pls how did they do this without anyone noticing? 4. You also claimed that "some marketer will buy ship of petrol bring into Nigera to claim subsidy, they ship it out to neigbouring country, while some briefcase marketers/politicians will claim subsidy on fuel they never import". Based on that, is it that marketers just imported whatever quantity of fuel they felt like importing or they imported the quantity of fuel they imported based on orders they received from NNPCL? 5. What are those "too many little borders" that you say are being used to get fuel out of Nigeria? 6. Have you seen any of those borders yourself to corroborate your claims? How is fuel transported across those "little borders" that is now enough to sustain Cameroon, Benin republic and Niger republic? 7. Who are those "smugglers/looters that are making mad profit"? Can you name them? 1 Like |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 5:52pm On Jul 13, 2023 |
grandstar: Are you sure you understand these questions? How was it not "discernibly clear as it is now that the subsidy was costing humongous amounts of money to provide"? In 2020, Mele Kyari said that fuel Subsidy was totally and completely removed. Which Fuel Subsidy are we still talking about again? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by AK481(m): 5:58pm On Jul 13, 2023 |
Fuel jerican no get cover? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by ambale(m): 6:00pm On Jul 13, 2023 |
Opportuneke: Are you insinuating that these jerry cans we are seeing is what the entire cameroon is using? Because una go just type full everywhere |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by Jamaall(m): 6:02pm On Jul 13, 2023 |
LoL I think the reason why Cameroonian police had to flared up and started shouting at me the moment they realize am from Nigeria on ma way to kousseri from maroua yesterday. As sharp 9ja boy I no dull with ma papers intact.. Kudos to PBAT tho he takes the win on this... |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by grandstar(m): 6:04pm On Jul 13, 2023 |
lexy2014: Have you ever asked yourself if he made a mistake? Have you ever asked yourself if what is said is based on the fundamentals existing at the time? There are so many variables to think about. 1 Like |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 6:05pm On Jul 13, 2023 |
grandstar: That hasn't answered my questions. How was it not "discernibly clear as it is now that the subsidy was costing humongous amounts of money to provide"? In 2020, Mele Kyari said that fuel Subsidy was totally and completely removed. Which Fuel Subsidy are we still talking about again? |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by pendragonbladgo(m): 6:17pm On Jul 13, 2023 |
What Jonathan should have done, mcheeeeewwww, we are just waking up! |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by pendragonbladgo(m): 6:19pm On Jul 13, 2023 |
lexy2014:The one our new President have done. He is too old to lie, he is to rich to be eating 5b every quarter as subsidy share..... |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by grandstar(m): 6:23pm On Jul 13, 2023 |
lexy2014: As long as the price is fixed, the notion that the subsidy is gone is a myth as inflation for instance may call for the adjustment of the price in future. So, if the price of oil was N10/litre in 1980 and at the time the oil minister was there was no more subsidy, will it mean if sold at 10 naira today, there is no subsidy? 1 Like |
Re: Subsidy Removal Hit Petrol Smugglers In Kusari Border Town (Video) by lexy2014: 6:24pm On Jul 13, 2023 |
pendragonbladgo: Offpoint. That's not what I asked. How was it not "discernibly clear as it is now that the subsidy was costing humongous amounts of money to provide"? In 2020, Mele Kyari said that fuel Subsidy was totally and completely removed. Which Fuel Subsidy are we still talking about again? |
(1) (2) (3) (4) (5) (6) (Reply)
Is It True Atiku Is Married To An Igbo Woman ? / President Macron: "Why I Visited Afrika Shrine In Lagos" / Tinubu Didn't Say 'Balablublu'. You Guys Used Internet To Form It - Orji Kalu
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 104 |