₦airaland Forum

budaatum:
I doubt Tinubu had a choice in the matter when to remove subsidy. I can't see anyone investing ₦10b+ building a refinery without first making sure they can sell at market price, which is higher than subsidised price. Investors aren't usually that stupid with their money.

Hardship? I wonder what he'd say when other subsidies are removed, like the subsidy to employers of labour that distorts wages called Youth Corp!

how did Tinubu not have a choice in the matter when to remove subsidy?

how has Nigeria fared better so far?

how many investors have built refineries or indicated interest in building refineries because subsidy has been removed?

You met a country in which a dollar was exchange for about #200 and now for #1500 by the same party government. Any reason to listen to you. Certainly not.

matify83:
After deriding the decisions of Asiwaju in removing petroleum subsidy hastily which has come with the attendant worsening of living conditions, the summary of discuss is that with the caliber of people running the economy, we will be out of the woods soon.

I also share in his optimism. What we are going through can be described as "birth pangs" which in due course will deliver lasting dividends if we do not abort the trajectory or stifle it to cause a stillbirth.

Debriding a putrid system must come with some pain even with anesthesia which will wear off at some point.

which pain and birth pangs and you people talking about?

is there anywhere in the constitution that says that government must inflict pain on the citizens of Nigeria before it can get things done?

is Tinubu experiencing and going thru this your pain and birth pangs or he is completely immune to it?

what are the "lasting dividends"?

can these "lasting dividends" not be delivered without inflicting pain on the people while those who are inflicting the pain are not experiencing the pain?

is this not how you made excuse for buhari for 8years that the pain and suffering he put Nigerians thru was a necessary evil that will ad to something better?

how has suffering bastardised your brain that you have now normalised the wickedness of the ruling elite?

siaco:
Forget this your long grammar, as long as Tinubu is president no policies of his government will work.
He bribed his way to political power forgetting that nothing bad succeeds.

Divine power is against him, no matter good ideas he has he is bound to fail because he is not people's choice.

And in all these your bad prayers for your country because your own choice didn't win the election you think it's Tinubu that will be affected?

E no better for that your "divine power". My own divine power is bigger than your divine power. If your divine power was powerful Tinubu wouldn't have been president.

Remove all the big grammar. Tinubu is the cause of the hardship. Nothing to add.

Smithkafors:
How is a lie?…. Was dollar and food price’s this high before that?.

Keep voting rubbish!!!.

typographical error check my comments again

WakeUpNigerians:
So what caused it?

typographical error check my comments again

seeker121:
You guys have been brainwashed to believe that citizens must bear the brunts of this their harsh economic decision. I prayed we will all live long but I can bet it with you that with the caliber of pple who runs this clime,we won't reap the benefits of all this pains.One greedy mofo will siphon huge chunks of this subsidy money with one white elephant projects. They aren't even ready to reduce the cost of governance to show their commitment in this economic building journey.In summary I don't trust Nigerian politicians because they have proven to us oftentimes that they are after our commonwealth not the betterment of our lives.

Same thing I keep telling those dumb idiots.

They think this suffering is for d greater good.

And I keep asking them if tinubu is also sacrificing, has he even shown any commitment by cutting down his salary?

Unnecessary travelings, see him being in France for two weeks and d presidential jet probably parked there with huge payment per day.


If d man was serious, he will publicly declare no payment for himself until the economy is revived.

MadamExcellency:
Which energy drink is N250? Powerhouse and predator are N400 per 50cl and Monster is N1000

Com com commado

amoreobansu:
https://dailytrust.com/tinubus-abrupt-subsidy-removal-caused-hardship-sagay/

Sagay my man. I like your false optimism. What he doesn't realize is that, when the foundation is wrong, any optimism built on it won't stand. There will always be compromise, cos tinubu didn't earn his excellency the excellent and honorable way. So at the end of the day, he will either look the other way while some feast on the anomaly going on while he tries to remedy it and ends up being a puppet or he goes full anarchy. Either, no optimistic about it.

Till Nigerians do the right thing and allow truths to prevail, give justice and equity strenght, follow due process and stop this selfishness and corruption that has eaten so deep in their marrow, both leaders and followers, nothing good or optimistic can come out of the country. It will always be one step forward and a thousand backwards.

Tinubu didn't cause hardship. Tinubu is hardship. Get it right.

Brendaniel:
So what you are saying in essence is that Nigerians should suffer for 4 years because Tinubu wants a second term?

That's the cowardly attitude Africa have taken the bull by it's horn na lie


Ano when die mama dey for house papa never , my sister still small, I never marry it's all our excuses

Every person want to go heaven no one want to die

Yesterday, it was cabinet ministers blaming Thiefņubu's ill-advised subsidy removal and currency floating

Today, his own very good friend and confidant is saying the same thing
.

Only God knows what was used to configure their brains to have believe pple that are siphoning our commonwealth day in day out will suddenly do something that will benefit all of us.This same thing has been said to our great grandfather to our parents and now they want to keep lying to us too.The earlier we Stand on our fears and sort everything once and for all the pple at the healms of affairs will buckle up.Only if Nigerians know the power that lies within them,they would have rightly and lawfully exercise it.

malali:
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.

Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

Will your brothers esn or boko bandits allow tourism?

bewla:
That's the cowardly attitude Africa have taken the bull by it's horn na lie


Ano when die mama dey for house papa never , my sister still small, I never marry it's all our excuses

Every person want to go heaven no one want to die

So you are saying Nigerians should suffer for one man's ambition?

What is wrong with you people?

That is what you guys said for Buhari that he will work in his second term, see where the country is today, anybody that wants to work will not be bothered about reelection, which one is more important to Nigerians, an improved country or reelection...

And besides who is supposed to reelect Tinubu? Is it the cabal or the people, except you want to say the cabal put him there...

Look at the way you guys reason now....

This country is not supposed to be one....

malali:
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.

Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

The Chinese have a saying that the best time to grow a tree is 100 years; the next best time is now.

Despite the corruption and incompetent in Nigeria leadership. A good Nigerian can take advantage of the opportunities in Nigeria

MadamExcellency:
Which energy drink is N250? Powerhouse and predator are N400 per 50cl and Monster is N1000

He is likely talking about Fanta and Sprite.

Even the ants in my kitchen know this.

matify83:
After deriding the decisions of Asiwaju in removing petroleum subsidy hastily which has come with the attendant worsening of living conditions, the summary of discuss is that with the caliber of people running the economy, we will be out of the woods soon.

I also share in his optimism. What we are going through can be described as "birth pangs" which in due course will deliver lasting dividends if we do not abort the trajectory or stifle it to cause a stillbirth.

Debriding a putrid system must come with some pain even with anesthesia which will wear off at some point.

Nigerians are hungry, you dey speak grammar.

Not in Nigeria, because of colonialistic yearnings you will hear it's elite and educated folk lean towards what it's president does without thorough criticism.
The Naira stuff with Emefiele - I would listen how people would back the move without looking at it's pros and cons. I told a friend,watch Nigerians groan in less than 2 weeks......
Batman removed the subsidy like it was the most important step to take ......it never wasn't.
A united country, which didn't seem likely as shown through the elections, could outgo any struggle.
Disunited in our National life is our biggest problem and no president has shown the balls to get that right.

Sagas is on course.

It was quite thoughtless to suddenly remove the subsidy.

I can see a lot of people suddenly calling for return of subsidy back to where fuel costs N200 or under. Aparently it would make us all happy.

FIrst off, subsidy has not gone, it has been partially removed, and even then, the cost of subsidy being paid is far more than what we paid in 2022...and fuel was below N200 then...because at the end of the day, the naira value had not fallen down. We bring back subsidy, we could be spending above 30 trillion per annum in the next 1 year...

Second, our debt was eating over 90% of our revenue, which meant we were borrowing and paying for subsidy with borrowing indirectly...and this was at May 29 2023. All the three main candidates knew that, which is why they were all saying subsidy must go.

As harsh as I sound, if we want economic progress, one of the things we gotta do in addition to diversificaiton and fighting corruption really...is subsidy removal. Because as has been said earlier, no one wants to build refinery and then sell petrol at subsidised price. It would kill the refinery. A lot of people come and make fun of the refinery Obi commisioned that did not produce fuel...well, at the end, would you produce fuel above 100 naira as it was then, and then sell it at N97 then? That is why that obi refinery is not working. And I betcha the owner has lost a lot of money.

The sad thing is that most of us don't know how bad we are, instead we talk about fighting corruption...and getting money back. WE SHOULD DO THAT...No argument...but if we got all the loot back, what would we do when we have finished spending the loot on the subsidy and other things? Wahala go start.

All I know is, we bring back subsidy, we would be in serious problem in a few years...to the point that the WB and IMF would be running our government. You won't like it.

Make this mumu man sleep. They are all responsible for our current and past hardship. They supported and brought this wicked APC to power

Where are the idiot that commended Tinubu for having the balls to remove subsidy earlier without recus to the negative effect. All of una dey mad. Including the Mr common sense on Rhythm Fm

nairalanda1:
I can see a lot of people suddenly calling for return of subsidy back to where fuel costs N200 or under. Aparently it would make us all happy.

FIrst off, subsidy has not gone, it has been partially removed, and even then, the cost of subsidy being paid is far more than what we paid in 2022...and fuel was below N200 then...because at the end of the day, the naira value had not fallen down. We bring back subsidy, we could be spending above 30 trillion per annum in the next 1 year...

Second, our debt was eating over 90% of our revenue, which meant we were borrowing and paying for subsidy with borrowing indirectly...and this was at May 29 2023. All the three main candidates knew that, which is why they were all saying subsidy must go.

As harsh as I sound, if we want economic progress, one of the things we gotta do in addition to diversificaiton and fighting corruption really...is subsidy removal. Because as has been said earlier, no one wants to build refinery and then sell petrol at subsidised price. It would kill the refinery. A lot of people come and make fun of the refinery Obi commisioned that did not produce fuel...well, at the end, would you produce fuel above 100 naira as it was then, and then sell it at N97 then? That is why that obi refinery is not working. And I betcha the owner has lost a lot of money.

The sad thing is that most of us don't know how bad we are, instead we talk about fighting corruption...and getting money back. WE SHOULD DO THAT...No argument...but if we got all the loot back, what would we do when we have finished spending the loot on the subsidy and other things? Wahala go start.

All I know is, we bring back subsidy, we would be in serious problem in a few years...to the point that the WB and IMF would be running our government. You won't like it.

Have you been paid your 30k this month??

234GT:
Have you been paid your 30k this month??

Yeah, I have been supporting this thing since 2011. SO, go meet a real APC supporter.

Grow up, child.

amoreobansu:
https://dailytrust.com/tinubus-abrupt-subsidy-removal-caused-hardship-sagay/

This greedy old fool always has something to say

budaatum:
No it wasn't. But after they build their refinery with the money they borrowed and have to pay back plus the return on their investment, I'm certain they hoped the price would rise so it's profitable for them. And the first thing I would have done before laying the very first brick if I were them is get an agreement on fuel subsidy because government no de pay, and I'd rather place my investment on market forces.


I wonder how much Port Harcourt and warri refineries petrol you have ever put in a car.

In fact, homework. How much petrol have Port Harcourt and Warri Refineries produced in the thirty years they were built?


The refineries your military built do not work I don't think.

Stop spitting nonsense, refineries worked in this country and I grew up buying Nigeria fuel in my dad's car. I don't expect a genz to know that anyway. Infact I went on excursion to warri refinery and I saw petroleum being refined live from the catalytic cracker.
As mentioned earlier, it's a lazy approach to blame Nigeria's problem and use it to take the easy way out.
Are you even aware that Dangote and otedola won bid to purchase the refineries as far back 2007 and wanted to invest heavily long before subsidy removal was even mentioned but yaradua came back and cancelled the deal.
If the investment will not be profitable, how were they able to buy the refineries without subsidy removal, you just spit out of ignorance to justify rubbish. There's always modality to work out for local consumption that will make refineries profitable without subsidy removal because there's already a law that guarantees 450000bpd for local consumption but it's because the government is lazy in thought and want easy revenue that's why they removed subsidy.
I have schooled you enough and won't respond to you again.

amoreobansu:
https://dailytrust.com/tinubus-abrupt-subsidy-removal-caused-hardship-sagay/

I can't laugh. Govt is still paying subsidies and I won't be surprised if it's even more..
Govt of trial and errors

Removal of fuel subsidy and the high costs of fuel, disel, floating of naira is the cause of all this hardship, inflation, high costs of food stuffs, high cost of living... You saw how bad APC performed in 8 years in the last administration...you still voted the same APC into government and what do you expect?