₦airaland Forum

Trial nd error govt, is Tinubu no longer jagaban of Africa again? I thought that he has prepared for d job over 20years ago, why d sudden trial and error issue
When it comes to economy, Yorubas are very very bad in that. Since democracy, no economic minister has performed better than d ones from d east, that's just d fact

This same nairaland that I said buhari's tenure will be far better than this so called administration they almost finish my life with insult now I think those insulting me are still in this forum or the country to see for them self the shame and setback emilokan has brought upon him self as a means of desperation mhh ,,,let it be known that this is the only government that has recorded failure within the shortest period ever what a shame ,even buhari did well during his first one year in office

Was it not last week we read that the oil important into Nigeria re of substandard, was it nnpc that was importing substandard fuel into the country, I no even understand this country at all

Jbleenk:
The person above is so dull he couldn’t offer intelligent contribution other than to throw shades. It we find out now you go realize na one of the frustrated Obi or IPOD people.

Anyways, allowing marketers access to Dollar at the official exchange rate will strike off NNPCL monopoly allowing for healthy competition and eventually forcing down price in the long run as we have in the telecom industry. We hope this works.

He's not your government.

The ones that forced their way into power are the cause of this mess. If you also think the fuel price will come down you're due for heavy disappointment. This will just stop fuel from rising to 3000 naira per litre.

Una go dey talk wetin una no understand

Jbleenk:
The person above is so dull he couldn’t offer intelligent contribution other than to throw shades. It we find out now you go realize na one of the frustrated Obi or IPOD people.

Anyways, allowing marketers access to Dollar at the official exchange rate will strike off NNPCL monopoly allowing for healthy competition and eventually forcing down price in the long run as we have in the telecom industry. We hope this works.

Jbleenk:
The person above is so dull he couldn’t offer intelligent contribution other than to throw shades. It we find out now you go realize na one of the frustrated Obi or IPOD people.

Anyways, allowing marketers access to Dollar at the official exchange rate will strike off NNPCL monopoly allowing for healthy competition and eventually forcing down price in the long run as we have in the telecom industry. We hope this works.

The bottomline is that we have to gradually end fuel importation and reduce demand on forex which in turn strengthens the Naira. Whether you provide a level playing field for both marketers and NNPCL to import or not, the fact is it doesn't solve the problem. Between 30-50% of our forex demand today goes to import fuel. Take that out and you substantially provide for the Naira to breathe and recover. Let us focus on bringing Dangote, Portharcourt and Warri refineries on stream and watch the stabilisation of forex market follow.

There's nothing like subsidy, the marketers are only fighting for their own interests, make CBN dey give dem cheap dollar rate. They don't want to import fuel at the parallel rate.

to be honest, tinubu does not understand the nation's problems, and with the way he is acting, it seems as if he just wanted to become the president so as to pay his staunch supporters and those who have stood by him all these years, so that they can have a piece of the national cake.

he got everything wrong from the start from the very hour he was sworn in

nairalanda1:
They have. It's just that they don't want to admit it lest they displease the IMF and any potential international investors

The truth is no Nigerian leader really would do away with subsidy. They want to be elected

Even then, tinubu better face the truth. Explicit subsides don't work.

Giftedhands477:
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Taylor94:
Tinubu is the most confused and useless president ever came out of Africa



Even the Seun and mynd44 knows

why not hold ur state governor and senators with other elected members. You just throw shades anyhow.

nairalanda1:
Hmm, is'e suspect there is a plan for Cbn to give marketers dollars at subsidised rates to import

Back to the good old multiple rate system of bubu then

It is worse than Buhari's.

In truth, I have no idea what's up with Tinubu's administration.
Lots of perplexing decisions.

Buhari handed the monopoly of importation to NNPC because of the widespread fraudulent activities of independent importers under the previous subsidy regime. Where marketers will simply fill out forms and demand payment.

At least under the NNPC, it's all localized and if the government had political will, it could investigate then punish anyone within the organization who engaged in corruption.

For whatever reason, and while we're dealing with a FX crisis, Tinubu has decided to open it back up to the same independent importers that were fond of holding the country under siege for months on end. Many of them will just round-trip and not import a drop. Others will use scarce dollars to import then sell the products at higher retail prices in neighboring countries.

Money will be spent. Products will not be available. And we'd be back to the era of prolonged fuel scarcity. The only explanation is that he is buying support for 2027. The 43 item ban lift and this is so political allies have opportunities to loot.

-Lord

owagbeba:
I think we have a habit of not telling the truth to ourselves and to others. If at current parameters, landing cost of PMS is 720naira per liter, and the petrol stations are selling at 580naira per liter than we have reintroduced Petrol Subsidy.

If FG moves to grant marketers right to import PMS within this subsidy regime then we are back to the days of Diezani’s subsidy schemes. But then the confusion is telling, airlines are yet to get dollars at official rate. Emirates is off the Nigerian route because they can not repatriate funds back due to dollar scarcity. Dangote had to swap his fx earnings in Ethiopia with Ethiopian airlines because of FX scarcity in Nigeria.

43 prohibited items back into the fold to bid FX at banks using Form M, now marketers access to this scarce FX in the works…. Sure enough round tripping on steroids.

Government is trying to squeeze revenue from the people by increasing import duty by 50% … minimum payable for 40ft is about 7 Million. Sure enough it will raise inflation and cost of things in the market

My people.. wahala dey! USD May go astronomical in no time .. giddy up folks ! Melt down looming

no petrol station sells for 580

TruthsFM:
Fuel subsidy is fully back

Pls, does this mean, the fuel price might go down?

Lordmajor31:
There is no official rate big man. Every single policy that have been made by this government isn’t really a bad policy, the problem is implementation and corruption in the systems before making policies make sure you first of all deal with every situation that will not allow the policy work. This Government is padi padi government nothing will come out of it. And u all should stop this obident and Bat and atikulate shit Na we all Dey suffer this thing BATs will come online and be defending this bullshit and behind that keyboard Dey are all crying and suffering.

According to Apc headless mob, any type of criticism is not allowed, even when its so glaring.
Tinubu is extremely confused, introducing a policy , then backtracking on it. When one fails to plan, this Is the issue. He wanted to be President at all cost , despite not having anything to offer

Bobloco:
https://dailytrust.com/oil-marketers-to-resume-fuel-importation/

I really don't have issues with the measures been deployed to beat down the current exscalating fuel price but the govt should make it open, if truely this govt. have nothing to hide, why not make it public just as you made public the news of the removal of subsidy.

FuckYou:
Pls, does this mean, the fuel price might go down?

nope it means the fuel price will go up as the importers of fuel will peg their price by themselves without NNPC controlling them. The importers will sell their fuel on any price they want

youngsahito:
why not hold ur state governor and senators with other elected members. You just throw shades anyhow.

What does governors have to do with this?
Omo, the level of shege Nigerians will see if this corrupt government is not checked will be something like a fairy tale

Taylor94:
Tinubu is the most confused and useless president ever came out of Africa



Even the Seun and mynd44 knows

Must you complain about everything?

FuckYou:
Pls, does this mean, the fuel price might go down?

This is where the problem is.
The subsidy being gradually introduced is not like the former that will cause the price of PMS to come down, rather to stabilize it so the price does not jump further.
So, with subsidy and the pain that comes with it, subsidy is still involved.

Importation is back 😳 ke

TruthsFM:
nope it means the fuel price will go up as the importers of fuel will peg their price by themselves without NNPC controlling them. The importers will sell their fuel on any price they want

Really 😲
So meaning even if they pay the new minimum wage too it won't still solve the economy crises then 😭

Tayorshd87:
Really 😲
So meaning even if they pay the new minimum wage too it won't still solve the economy crises then 😭

yes. Inflation of food commodities will further increased in the market

Programmer47:
According to Apc headless mob, any type of criticism is not allowed, even when its so glaring.
Tinubu is extremely confused, introducing a policy , then backtracking on it. When one fails to plan, this Is the issue. He wanted to be President at all cost , despite not having anything to offer

Don't be harsh with such Tinubu decision and base on not ready ehn
Ask yourself the buhari and d likes that are ready what are their achievement even d so called Jonathan period he is d worst president ever and is because he didn't remove subsidy then why people assume he is better..

Ask other oil producing countries like Nigeria too how much is their PMS then u Wil understand better that Nigeria is doing better with #617per liter.

Let's just hope for the best 🙏

One the hidden details is that,subsidy is still being paid.It's not gone but very much with us satisfying the interest of ravenous and rapacious political leaders and business elites.

Okay

Wtf happend to our messiah refinery dangote

Tayorshd87:
Don't be harsh with such Tinubu decision and base on not ready ehn
Ask yourself the buhari and d likes that are ready what are their achievement even d so called Jonathan period he is d worst president ever and is because he didn't remove subsidy then why people assume he is better..

Ask other oil producing countries like Nigeria too how much is their PMS then u Wil understand better that Nigeria is doing better with #617per liter.

Let's just hope for the best 🙏

Please speak English.
Tinubu removed subsidy without laying any framework to suppress the effect.
The same Tinubu has now reintroduced subsidy without making the market open.
Some of you just copy and paste whatever you see on your WhatsApp groups without thinking it through.

I know you are an APC supporter, but think. Ronu. Not everything is politics. Have an opinion. Don't be a basket that leaks information without actually confirming what it is you're saying

michlins:
that is another subsidy payment but this time in the form of forex. What guarantee do you have that someone who got dollars at official rates to import petroleum products will not head into the black market to resell and make over ₦200 per dollar. This is free money for him

Not only that but also FG is also back on subsidy for fuels imported by NNPCL...

In other words, we back to square one.

michlins:
that is another subsidy payment but this time in the form of forex. What guarantee do you have that someone who got dollars at official rates to import petroleum products will not head into the black market to resell and make over ₦200 per dollar. This is free money for him

Thank you my Oga. That's the problem with Nigerians. When govt is trying to put some things right, some elements will try to cut corners and frustrate it. Except there's an efficient monitoring system to track if forex allocated are used for intended purpose and not diverted.