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Nairaland Forum / Nairaland / General / Politics / ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments (56747 Views)
Popular Tinubu Supporter Laments As Unilag School Fees Increases By Over 500% / Advantages Of 620 Per Litre Fuel ! / N620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments (2) (3) (4)
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Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by millionboi2: 11:19am On Jul 19, 2023 |
Ikpeyi:me,seyi tinubu son and davido are not feeling it. 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Parrot69: 11:36am On Jul 19, 2023 |
grandstar:I've been reading all comments, going through people's expressions until I got to this comment. Wait, let me ask: Are you a graduate or still in Secondary, Cos I marvel at the level of dilapidated education system in Nigeria?? So this is the best logic you can come up with?? Ok! To get down to your "level" of reasoning since you area big time(MUMU) with zero IQ. Just imagine: A sharp object fell into the eye of your kid, would you forcefully pull it out as the ODE you were Born To Be OR would you Gently get ride it not to affect the delicate part of the eye( which is the Cornea) "MASSES" to further damage it?? This is the nonsense type of logic reasoning you're bringing up to a different related topic that has nothing to do with life threatening situation. Foooool!! |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by nairalanda1(m): 11:39am On Jul 19, 2023 |
grandstar: Bookmarked for further reference. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Gucciswaz: 12:13pm On Jul 19, 2023 |
taylor89:when u hear renewed shege u reply banza..Dem go hear am wela |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by jane00700: 12:17pm On Jul 19, 2023 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Gucciswaz: 12:19pm On Jul 19, 2023 |
When I say renewed shege u respond banza [color=#990000][/color] 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by tivhador: 12:34pm On Jul 19, 2023 |
U APC Supporters all love Criminals ruling over you.....you always have...................... So, Enjoy 1 Like 1 Share
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Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by bal4real: 12:37pm On Jul 19, 2023 |
ednut1:My Guy where Agbado filling station dey? U get any clue? I hear say them they sell at cheaper price to CORNfused slaves 2 Likes 2 Shares |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by bal4real: 12:43pm On Jul 19, 2023 |
Westernlove:Serious! Where I fit get the ID card, Abeg? |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by bal4real: 12:47pm On Jul 19, 2023 |
faceland:Don't mind the tribal bigots full of hatred. If it were Peter Obi, the whole country would've been on fire by now. 5 Likes 2 Shares |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 12:48pm On Jul 19, 2023 |
nairalanda1: This thread better explains things. You can see the massive increase in the amount that will be shared this month. This was from the June revenue. Calculate the difference. () https://www.nairaland.com/7769994/faac-share-n1.959-trillion-revenue#124512669 Copy:Nairalanda1 2 Likes 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by TrumpDonald2: 12:56pm On Jul 19, 2023 |
leokid866:One fool spotted. Waiting for the next. 1 Like 2 Shares |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 12:58pm On Jul 19, 2023 |
Parrot69: Being emotional won't change the fact that 1 + 1= 2. Look at the massive increase in government revenue after ending the petrol subsidies in very early June and floating the Naira in the middle of June. https://www.nairaland.com/7769994/faac-share-n1.959-trillion-revenue#124512669 The revenue this coming July will be much higher. That was how much the government was not only losing but borrowing. The country was borrowing money because of this subsidies as it was starving the government of money. Yes, the removal was painful. I have only fuelled my Gen once since the petrol subsidy was removed. But because it was the right thing to do, I have accepted it. 4 Likes 3 Shares |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by blueAgent(m): 12:59pm On Jul 19, 2023 |
Almiron: Most of the fools they squat on the mandate now, no more on your mandate we stand. Inherently foolish ppl. 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by blueAgent(m): 1:11pm On Jul 19, 2023 |
Kukutenla: So true Abeg school those Inherent FOOLS. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by blueAgent(m): 1:18pm On Jul 19, 2023 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Almiron: 1:22pm On Jul 19, 2023 |
blueAgent:hunger go reset their heads 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by tesppidd: 1:29pm On Jul 19, 2023 |
blueAgent: Different from Bala Blu blu 1 Like 1 Share |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Parrot69: 1:39pm On Jul 19, 2023 |
grandstar:All these trash 🗑 statistics and trash links. One guy by name Lexy2014 asked you a question, why haven't you answered him?? |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by ObaaOfYorubaLan: 2:01pm On Jul 19, 2023 |
Dubetex96: Amen, Dey enjoy that corn below for now
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Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 2:26pm On Jul 19, 2023 |
Parrot69: Why should I reply Lexy? Am I jobless? Why don't you do the calculation here and see how much as accrued from the fuel subsidy removal and the Naira float? https://www.nairaland.com/7769994/faac-share-n1.959-trillion-revenue#124512669 Let us do simple maths. It seems I have to do simple maths for you N1.959 trillion in July 2023 N786.161 billion shared in June That is 1.959tr minus 786.161 =1,172,839,000,000 or 1.172 That was 1.172tr increase in just a month. That was just because the fuel subsidy and the Naira was floated. That was why the government did those reforms . That was why the other 3 presidential candidates said they would end them as well. 2 Likes |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Feggie3: 2:27pm On Jul 19, 2023 |
grandstar:You are very stvpid!! Shvt D fvck u nincompoop!! |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by blueAgent(m): 3:04pm On Jul 19, 2023 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by blueAgent(m): 3:04pm On Jul 19, 2023 |
Almiron: I tell u. 1 Like |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Treadway: 3:28pm On Jul 19, 2023 |
grandstar:thanks for the detailed response. The first, you assumed the entirety of the $1.5b in the official/parallel rate analysis, which clearly shouldn't be so. You realise billions of USD were doled out thru Form A for the japa movt. You also realise same USD at official rate is used in paying for the refining/shipping etc of the same crude, by the sole importer of the last 7-8yrs called the NNPC. How in the hell will the govt use an erstwhile illegal rate for the aforementioned? Yes, we recognise that round tripping happens/happened, but you can't claim it happened on the entirety of the sum..Do you agree? Second, the daily consumption of 60m litres isn't based on any empirical or irrefutable data, wherein lies one of the scams in the subsidy regime. But let's even say you did a rough estimate, you did calculations for a year. Recall how I said the 70b is just one instance, right? Try and do a mental calculation of such frivolous spending that has happened in the last one year, the bullet proof cars, sham renovations and all that and let's see that as well side by side. Third, as I have said earlier, you can't even use the parallel rate as you said you could have in the last paragraph. The official rate in a normal setting is the only rate to reckon with. Corruption and the imbalance between demand and supply, which is still an offshoot of that corruption is what birthed the so called parallel rate. Above all, see how you intelligently came up with this assumptions and gave a position, it is still not backed by any data/proof by way of articles/links etc. That is one of the problems right there. Without irrefutable data and records, you really can't separate fugazi from fact. Nairalanda1 bookmark this too. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 4:34pm On Jul 19, 2023 |
Treadway: Simply forget all I wrote. Just focus on the article below. https://www.nairaland.com/7769994/faac-share-n1.959-trillion-revenue N786.161 billion shared in June N1.959 trillion in July 2023 That is a difference of close to 1.18 trillion Just by ending petrol subsidies and floating the Naira, government revenue increased by 1.18 trillion. And note that the Naira was only floated mid-June. Had it been floated 1st June, the revenue would have been higher. The tremendous increase in government revenue simply gives credence to what I am saying. The revenue is shared 52% federal government, and states and local government shares the remaining 48% to the states. In this instance, let us just assume the state takes the 48%. 48% X 1.18 = 556billion extra will go to the states. Divide this by 36 states and you have N15.9BN That means an increase in allocation averaging 15.9bn per state monthly. This is massive. 3 Likes |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Treadway: 5:05pm On Jul 19, 2023 |
grandstar:hmmm. I don't even know where to start. So, I will say I acknowledge your point, but is this good news? Let me read this news to you another way. NCS had of last week changed the rate for car import on the assycuda platform to 770 (this is speculative), some say 680. It was 421. At the end of June/July clearly the NCS will declare more in trillions too..not so? But is that a good thing or a positive direction when NCS charges you for 1.8m to clear a 2003 corolla which cleared for 1.3/1.4 last month. Is the 400k increase to that car and by extension the overall figures for the NCS revenue by the end of June/July a positive direction signal for the economy? A yes or no will suffice (but then again if you explain I don't mind, I enjoy your level-headedness). It appears to me to be a tricky situation, because in the general sense it just re-emphasizes how deplorable things have gone so fast. Kinda like Zimbabwe should also be happy if their Zim dollar monthly allocation rises considerably in the same fashion that their money has turned to tissue paper. Infact that is a befitting analogy. Of what use is the tissue paper? |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by leokid866: 5:44pm On Jul 19, 2023 |
TrumpDonald2:your papa na fool.....no wonder he had you.....🤮 |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Tinubuderanged: 6:01pm On Jul 19, 2023 |
Okealaaye:they promised to remove subsidy, did they promised to multiply school fees by 3? Did they promised to remove subsidy without palliative? Did they promise to remove subsidy on their first day in office knowingly that subsidy was budgeted up to the end of June? Tinubu is a disaster I swear. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Nobody: 6:20pm On Jul 19, 2023 |
Tinubuderanged: Buhari didn't capture Subsidy payments in 2023 budget, remember? Tinubu only proclaimed what was already an issue of public discourse. I wonder why any reasonable person should evaluate performance of a government that has been in for less than 50 days. It isn't for nothing that the Americans from whom we copied this type of democracy, assess their governments only after 100 days in office. Some people are happy to be bearers of hopelessness in the Nigerian situation. They hate Hope. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by grandstar(m): 6:30pm On Jul 19, 2023 |
Treadway: I have always believed in doing the right thing, even when it hurts. What is the best policy regards car importation. The import duty for cars shouldn't be more than 20%. I would even say 10% The problem is that the import duty is too high and it should be slashed. It was increased to a total of 70% if I am correct under Jonathan by the then minister of investment, Agangan to encourage local car production. Ngozi Iweala who was the then finance minister was displeased at the policy. The government already knew it was a wrong policy but rather kill, seemed to have extended it to commence during his second term (which turned out to be Buhari's first term). You should know more about this tariff increase than I do. Is it better to produce cars than to import? Economics state you are best focusing resources at areas you have comparative advantage in. Nigeria has no comparative advantage in car production. The present captive market is not enough to produce cars very competitively. Since, we can't produce cars competitively, that means cars manufactured here would be expensive. To manufacture of cars locally, high import duty would be place on imported cars so as to make it very expensive and people would be forced to patronize locally produced ones. It is encouraging locally production as some local car manufacturers seem to be booming like Innoson in Nnewi. However, is Nigeria better off or worse off? Imported cars, especially tokunbo cars has created employment and livelihood for over a million people. You may even say it is far more than that. Many hustlers who started with zero have become millionaires in Naira. I am sure many now even travel overseas to import cars. I know many car dealers. I know many who work for them. I know many hustlers. People condemn imports but there's nothing wrong in them. What is wrong is when you don't export and that is where Nigeria fails. Non-oil exports are not booming. I think I have only met one person working for a local car manufacturer. These policies cause far more harm than the petrol subsidies but people are unaware. If import duties on cars were slashed to even 5%, I am sure business will boom and everybody will benefit. But let's be conservative and just say 20% which I feel is even too high. Pat Utomi said what the country should have focused on is to find one area in manufacturing cars the country is good in and boost it. For instance, imagine if Nigeria supplies 40% of the leather used in Mercedes cars in Germany, or 20% of the tires used in manufacturing cars in Europe. That is where the power of comparative advantage comes in. That is why German manufacturing is so good. You'll have a German medium manufacturing company control 50% of a certain product globally. I am sure as a car importer, you will probably understand it better. |
Re: ₦620 Per Litre: This Isn’t What We Voted For, Tinubu’s Supporter Laments by Treadway: 6:54pm On Jul 19, 2023 |
grandstar:the info you mentioned is wrong, and so kinda warps the argument you made because it really has no impact or bearing on 99.9% of Nigerians. I am in this business so I can offer real perspective. It was Buhari who raised total import duty to 70%, not Jonathan. It was initially only 35% import duty, before Bubu added additional 35% levy making a total of 70%. Now here is the vital part, it is for what the NCS terms new cars, which is any car that is imported and is a year/model that is max 3 years old from the year in view eg NCS would consider a 2021 model car a a new car, and will charge a total of 70% duty. How many Nigerians import/drive those?? It was supposedly to encourage locally assembled new vehicle manufacturers eg Innoson and co So you see how it warps the argument. What i want you to get/answer is, when the NCS now declares more revenue figure expectedly as a result of the exchange rate that went up from 421 to 680/770, is that a signal of a positive direction in the economy, the naira following the pattern of the Zim dollar. Of what use is 100 trillion Zim dollar revenue even if it grew from 30trn due to continued devaluation of the currency for Zimbabwe, and comparably of what use is the higher figure in revenue in naira as well when the tender is fast becoming toilet paper as evidenced. |
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