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Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns (22956 Views)

Removal Of Fuel Subsidy Will Bring Investments, Make Nigeria Prosperous – Tinubu / Fuel Subsidy: Labour Fumes As IMF Warns FG Against Fresh Borrowings / Fuel Subsidy Will Not Return, FG Assures IMF (2) (3) (4)

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Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by EyeCumInPiece: 9:12pm On May 10
The Microphone-licking druggie is confused. 😂

8 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by OgbeniOja1: 9:12pm On May 10
wisdom from where. dey play
semc:
Its a difficult time and we pray God to give president the wisdom to Go through this moment

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Chucks13: 9:13pm On May 10
Georgry:
So Tinubu is paying more for Subsidy today then Buhari did and yet the price has more than triple, this is pathetic. I got fuel for 850 per litre today, I know that 1000 per litre is inevitable.

Read pls just read.
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by missionmex(m): 9:13pm On May 10
CodeTemplar:
Let it drink and drain it.
We can afford to spend N90Bn to go and stone the devil after all,so subsidy should be maintained .
Who do black man this thing?

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by BondRiv: 9:15pm On May 10
This demonic fund again.

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Sccarrr: 9:15pm On May 10
callmevirus:
Nothing concern me but E dey mind


Tinubu is a big disaster
You won't see the likes helianus or that almajiri boy yarimo on these thread they will avoid it like dysentry but let it be anything concerning PO or labour party their dik go rise pass flour
dull obedient, just confess u don't understand the post..abi wetin concern Bitter Obi, labour party or Yarimo with wetin den talk ? 😹



See dem 😹


Georgry:
So Tinubu is paying more for Subsidy today then Buhari did and yet the price has more than triple, this is pathetic. I got fuel for 850 per litre today, I know that 1000 per litre is inevitable.
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by GeekPillz: 9:17pm On May 10
Man Naija is on free fall.

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by advanceDNA: 9:17pm On May 10
sleek214:
IMF should STFU

U can say that again...

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Blaze14k: 9:18pm On May 10
Paraman:
Tinubu can prevent this by working hard on ways to make the naira gain value against the us dollar

Bro tinubu should take off his ego and listen to those that have a better idea. Everybody want Nigeria to succeed but he can't do it in this manner. All these things going on is what people were complaining, shouting yet it looked as if we were stupid. Instead of solving the problem he is adding more to it. I don't know why he relies so much on CBN

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by koyeni(m): 9:19pm On May 10
SoNature:
I'd like to think that we Nigerians either like to deceive ourselves or we are just ignorant about what leadership is. In truth, leadership is all NOT about choosing between good and evil. No!

Think of a leader as a civilian in charge of security operatives chasing after one dangerous terrorist who has masterminded the killing of hundreds in the past. This terrorist runs into a building full of people just to escape from security operatives.

The leader knows that if the tells the security agents to go into the building to arrest the man, he will waste all of them and escape because he's a specialist in doing that. Instead, he tells them to throw bombs into the building, killing the terrorist and other innocent people.

He knows that if he keeps that terrorist alive, he will kill more. So, it's better to sacrifice just 5 - 10 innocent people in place of hundreds. That's something these leaders face every now and then.

Ngozi Okonjo-Iweala told Jonathan to remove the petrol subsidy in 2012. She took hours to convince Jonathan. Jonathan took weeks to think about it but wasn't convinced. Considering that his options were limited, Jonathan had to remove it anyways. And it backfired! It nearly led to a countrywide protest - a protester even died at Ojota! That's what it means being a leader.

So, sometimes, we have to pity our leaders. We don't have access to the information they have. We don't know what they go through at night for making certain decisions. But, I like the way Buhari put it, "You cannot satisfy everyone. Just make a decision that will enable you to sleep at night."

If you read up to this point, my point is leadership is hard!

Sorry sir. You wrote trash

11 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by morinto: 9:19pm On May 10
SoNature:
I'd like to think that we Nigerians either like to deceive ourselves or we are just ignorant about what leadership is. In truth, leadership is all NOT about choosing between good and evil. No!

Think of a leader as a civilian in charge of security operatives chasing after one dangerous terrorist who has masterminded the killing of hundreds in the past. This terrorist runs into a building full of people just to escape from security operatives.

The leader knows that if the tells the security agents to go into the building to arrest the man, he will waste all of them and escape because he's a specialist in doing that. Instead, he tells them to throw bombs into the building, killing the terrorist and other innocent people.

He knows that if he keeps that terrorist alive, he will kill more. So, it's better to sacrifice just 5 - 10 innocent people in place of hundreds. That's something these leaders face every now and then.

Ngozi Okonjo-Iweala told Jonathan to remove the petrol subsidy in 2012. She took hours to convince Jonathan. Jonathan took weeks to think about it but wasn't convinced. Considering that his options were limited, Jonathan had to remove it anyways. And it backfired! It nearly led to a countrywide protest - a protester even died at Ojota! That's what it means being a leader.

So, sometimes, we have to pity our leaders. We don't have access to the information they have. We don't know what they go through at night for making certain decisions. But, I like the way Buhari put it, "You cannot satisfy everyone. Just make a decision that will enable you to sleep at night."

If you read up to this point, my point is leadership is hard!
I like your point and view. But the problem is that the money gain for the subsidy is not used for anything tangible enough or it is stolen by corrupt people. I remember Jonathan promising to used the subsidy money to build refinery and end up doing nothing. All this contributed in people losing hope on all government

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by LandMann: 9:20pm On May 10
Before subsidy removal fuel was around 165-200.... After subsidy removal fuel price jumped to 650-700, inflation skyrocketed and naira depreciated massively.

Now, fuel price is over N800-1200, the government claims there's no subsidy yet the IMF is screaming that Nigerian government is paying subsidy that will ensure there's zero infrastructural, health and educational development in Nigeria for the next 1-3 years

Dear Nigerians, is IMF the enemy of Nigeria or is Tinubu and his cabal of incompetent morons just running Nigeria aground?

Helinues and all other government propaganda zombiés on Nairaland please come and defend your government wage and explain this anomaly

7 Likes 1 Share

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by telleyway: 9:21pm On May 10
Lizzysamuel:


https://saharareporters.com/2024/05/10/tinubus-reinstated-fuel-subsidy-will-drain-almost-half-nigerian-oil-revenue-2024-imf

What's the essence of having huge revenue when citizens are dying?
IMF will only warn when subsidy is about to or is removed. What advice do they have to cater for the masses? More taxes

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by phoneport(m): 9:21pm On May 10
Bitter OBI will never rule Nigeria Agbado people, una see una yeye life now
Emilokan will build Nigeria like Lagos grin grin grin
I laugh in Ijebu

West how market? Se bi na East dey suffer now.

6 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by SpartaOfLagos: 9:22pm On May 10
When your president is clueless , don't have mind of his own.

5 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by gebest: 9:22pm On May 10
IMF una father.
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Ndipe(m): 9:25pm On May 10
I don't think the IMF has the best interests of Nigerians at heart.

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Emmabyte: 9:27pm On May 10
The guy has nothing to offer

4 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Zetty177x: 9:27pm On May 10
IMF gettat
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by adams123: 9:28pm On May 10
IMF or what's their name... They just want to cause confusion in this country but we don't care as we are in a confused state already.

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Jokerman(m): 9:29pm On May 10
So why is fuel about 1,000 if the subsidy has been reinstated?

3 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by callmevirus(m): 9:29pm On May 10
Sccarrr:
dull obedient, just confess u don't understand the post..abi wetin concern Bitter Obi, labour party or Yarimo with wetin den talk ? 😹



See dem 😹



Did you think that I don't understand the post? I don't blame you because you're as dull as Tinubu

5 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by ElevationD: 9:31pm On May 10
Notice how APC supporters just blab? Notice how they are so confused while trying to defend the indefensible?
They must admit that BAT caused problems on his Inauguration day. His joy caused him to make the announcement earlier than it could have happened. We are in it. We can see how the same IMF has turned around to pretend like saints?
There are issues that must be handled properly. How can one convince BAT and Umahi, along with their blind supporters that the coastal road is not the immediate need of Nigerians.

We must see serious actions against terrorist, bandits and land grabbers. We must see serious actions against poverty in the land. The 15 trillion or so, if channeled into the health sector, should deal with medical tourism. We must see action against oil stealing. We must see government uniting citizens.

8 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by keylogger(m): 9:33pm On May 10
British Petroleum
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by semc: 9:34pm On May 10
SoNature:
I'd like to think that we Nigerians either like to deceive ourselves or we are just ignorant about what leadership is. In truth, leadership is all NOT about choosing between good and evil. No!

Think of a leader as a civilian in charge of security operatives chasing after one dangerous terrorist who has masterminded the killing of hundreds in the past. This terrorist runs into a building full of people just to escape from security operatives.

The leader knows that if the tells the security agents to go into the building to arrest the man, he will waste all of them and escape because he's a specialist in doing that. Instead, he tells them to throw bombs into the building, killing the terrorist and other innocent people.

He knows that if he keeps that terrorist alive, he will kill more. So, it's better to sacrifice just 5 - 10 innocent people in place of hundreds. That's something these leaders face every now and then.

Ngozi Okonjo-Iweala told Jonathan to remove the petrol subsidy in 2012. She took hours to convince Jonathan. Jonathan took weeks to think about it but wasn't convinced. Considering that his options were limited, Jonathan had to remove it anyways. And it backfired! It nearly led to a countrywide protest - a protester even died at Ojota! That's what it means being a leader.

So, sometimes, we have to pity our leaders. We don't have access to the information they have. We don't know what they go through at night for making certain decisions. But, I like the way Buhari put it, "You cannot satisfy everyone. Just make a decision that will enable you to sleep at night."

If you read up to this point, my point is leadership is hard!
And you didn't tell your voters that Leadership is hard During the electioneering campaign ?


When did your Leaders suddenly discovered that Leadership is hard.


Stop complaining and go to work.

The people voted you because you sound like a man who will solve their problem.

7 Likes 1 Share

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Franchise21(m): 9:36pm On May 10
Someone told me that Buhari is a better leader than Tinubu, I thought about it for long a while... if Buhari with all his bad policies is better than Tinubu, then Nigerians are in for a long ride...
Tribalism and religious bigotry made EyeNeck and some set of Nigerians elect a misfit over someone really ready for the job
LazLaz, even their so-called lap dogs dey dance to the music wey their leaders dey play for them

7 Likes

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Sccarrr: 9:36pm On May 10
callmevirus:


Did you think that I don't understand the post? I don't blame you because you're as dull as Tinubu
talk tru and admit...u don't understand it....
U won't be the first olodo, even Bitter Obi finish sch with third class and he's doing well evn tho na State money he tief invest in family business 😹
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by Yelight(m): 9:36pm On May 10
Cineinfo:
I still don't get it. How on earth IMF understand Nigeria situation than the Nigerians


Very simple, internationally, goods and services have fixed prices, that's why you will hear people outside Nigeria telling if you're doing job A, your pay is $x/hour and so on, so there's a fix price to refine a barrel of crude oil to get PMS, there's price for the crude used, the refinary is out for profit, you will pay shipping company to bring it to Nigeria, pay import duty, all these on the PMS and in USD. Also dollar-to-naira exchange rate is known and you're selling the same product at less than $1. Do the maths and see for yourself.

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by samwheel(m): 9:36pm On May 10
Faiththatworks:
I think this imperialist and mad neocolonialist are the biggest problem of Asiwaju.
These Mad people told Asiwaju to remove Fuel Subsidy he obeyed,the country went into immeasurable hardship,if the President decides to allegedly reintroduce subsidy on a lower scale to stop the total decimation of the masses,why are these made neocolonialist complaining again.
I totally disbelieve this allegations of subsidy,and these are my reasons.
I say this with a reasonable level of factuality that as of Today,Dangote is selling a litre of Diesel for 850 naira, without any form of Subsidy.
I know people who are loading the product directly from the Refinery and he's selling at 850 naira.
For the sake of argument,let us agree he's selling at 900,I can say factually again if there's any level of Subsidy it should never be in the range of 5 billion Usd.
There's no way Nigeria should pay 5 billion Usd as subsidy this year unless The NNPCL wants to continue stealing all the oil revenue.
My advice to Asiwaju is to instruct the NNPCL to stop the payment of this dubious subsidy and funnel all the money on crude oil sales to the CBN,and instead of paying subsidies to European Refineries,the crude oil should be given to Dangote to Refine.
It doesn't make any sense,I repeat any sense for This country to extract crude oil and sell it overseas,then Use almost half of the proceeds to pay Subsidy.
It's the most foolish Economic principle I have seen in all my life, enough of this stupidity and merry go round stealing.
Asiwaju should man up and stop this Economic sabotage in the name of Subsidy.
God bless Nigeria.
Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by DatNiggaDaz: 9:37pm On May 10
Despite being Africa’s largest oil producer, Nigeria imports most of its gasoline needs because it lacks the refining capacity to meet domestic demand. The hope is that when a 650,000 barrel-a-day oil refinery outside Lagos, owned by Aliko Dangote, Africa’s richest person, and one in Port Harcourt, controlled by state-owned Nigeria National Petroleum Co., come fully online that will change.
grin grin

1 Like

Re: Tinubu’s Reinstated Fuel Subsidy Will Drain Almost Half Of Oil Revenue—IMF Warns by samwheel(m): 9:38pm On May 10
Faiththatworks:
I think this imperialist and mad neocolonialist are the biggest problem of Asiwaju.
These Mad people told Asiwaju to remove Fuel Subsidy he obeyed,the country went into immeasurable hardship,if the President decides to allegedly reintroduce subsidy on a lower scale to stop the total decimation of the masses,why are these made neocolonialist complaining again.
I totally disbelieve this allegations of subsidy,and these are my reasons.
I say this with a reasonable level of factuality that as of Today,Dangote is selling a litre of Diesel for 850 naira, without any form of Subsidy.
I know people who are loading the product directly from the Refinery and he's selling at 850 naira.
For the sake of argument,let us agree he's selling at 900,I can say factually again if there's any level of Subsidy it should never be in the range of 5 billion Usd.
There's no way Nigeria should pay 5 billion Usd as subsidy this year unless The NNPCL wants to continue stealing all the oil revenue.
My advice to Asiwaju is to instruct the NNPCL to stop the payment of this dubious subsidy and funnel all the money on crude oil sales to the CBN,and instead of paying subsidies to European Refineries,the crude oil should be given to Dangote to Refine.
It doesn't make any sense,I repeat any sense for This country to extract crude oil and sell it overseas,then Use almost half of the proceeds to pay Subsidy.
It's the most foolish Economic principle I have seen in all my life, enough of this stupidity and merry go round stealing.
Asiwaju should man up and stop this Economic sabotage in the name of Subsidy.
God bless Nigeria.



Tinubu is not a serious leader, just a useless old man that was too desperate for power without preparation for the weight of leadership.


All d so called money dey said dey realized from subsidy removal, why wasn't it channeled into making at least one refinery work? To reduce d effects of subsidy removal.

Their main focus now is wasting scarce resources on coastal road that has no short term positive effects on d ailing economy.

Same thing buhari did, borrowed money to build railway that rakes in loss.



All we have are just stupid leaders, and leaders they say are d reflection of the people.

So in other words, Nigerians are stupid people forming intelligence undecided

5 Likes 1 Share

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