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Nairaland Forum / Nairaland / General / Politics / Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss (17650 Views)
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Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Faposky95: 5:44pm On May 12 |
NAIJA thinking of reneging the US Western Pact and consider Russia.....? 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Danboy43: 5:44pm On May 12 |
Tinubu should wake up. There has not being positive impact of fuel subside removed on the Nigeria Economy. How long are we going to have sleeping leaders in power. 3 Likes |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by nairalanda1(m): 5:47pm On May 12 |
proxillin: If the government had kept fuel price at 195 naira , by now it would be costing the government 800 to 900 naira to subsidze one liter of fuel instead of the 300-400 they are spending now. That means over half the budget would go on subsidies, which means that things like salaries would not be paid ,contractors would not be paid and projects wouldbe abandoned Plus we would have to borrow evenmoney, which means our debt service could go back to 90% of our income , if not more. The resulting debt burden could lead to inflation of the kind that you would cry tears of blood. So, you will have cheap fuel but no money to buy it. Think you want that again. Even the current subsidy is creating a debt burden that is eating 70% of our income 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by VinnyBaba: 5:50pm On May 12 |
Divinelove4ever: Tinibu NO get Sense na. When he took the Foolish decision, his MUMU supporters were Hailing him that he has Balls than Obasanjo, Goodluck and Buhari. |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by nairalanda1(m): 5:50pm On May 12 |
Danboy43: If he returned subsidy to 195 , with landing cost at 1100, fuel subsidy would be at 800-900 naira That means that nearly two thirds of your budget could go for subsidies That means that at the end of the day, unless government can get a loan from IMF to cover the resulting deficits, there would be no money for projects, and salaries and other subsides for health and education Which means that the economy could go from worst to hell on Earth. But no, you want cheap fuel 2 Likes |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by BigIyanga: 5:52pm On May 12 |
IMF is controlled by Obedients now😂😂 |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Ofemannnu: 5:54pm On May 12 |
FG is only paying subsidy partly according to IMF and it is temporary unlike previously. This is the reason why allocations of states have almost trippled. This is why FG could give awards and reason why they will be able to pay higher wages (if the states are held accountable by NLC,TUC and NGOs) Nigeria will get better. |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Bluntemperor: 5:54pm On May 12 |
Ofunaofu: Nigerians And President Tinubu: Nigerians are patiently waiting for President Tinubu - on what he said on 29th of May 2023, and what has happened since then! •How much has he saved for Nigeria since the Oil Subsidies were removed? •What is NNPC Management and those Managers still doing, instead of Sacking them and all the Subsidiaries are still telling Nigerians Story like before? •Why are those Refineries are still in Limbo •Is IMF - Information on the Subsidies Wrong- and who is telling lies with the Figures? •Why has those Refineries not operative- after a year,for all we have been hearing is - Next Week,Next- Months,etc,oh the y will work to Complement that of Dangote( a Private Refinery)! So,if Dangote Refineries failed to Work,then Port-Harcourt and Warry will not work? •Why are the Delays ,by not paying the Workers and the Retirees their dues,after the Federal Govt quickly removed the Subsidies but you forwarded NBillions Palliatives to governors. -People - the Masses have no Savings because the Only Pillar of Nigeria Economy was the Oil -Subsidies - but the Support in terms of Low Prices for goods is not yet due to rising Inflation! •Why was Light Subsidies removed too? DISCOS - could not give any reasonable reason - in terms of Performance( 24/ 7 to Nigerians)for doing this,with the Support of the Power Minister - what we have now is --More Darkness,No Prepaid Meters,No Transformers, yet Estimated Billings is continue! When will Nigerians smile to their Banks- to save and do businesses-for without Constant- Power/ Lights - no one will do anything tangible with generators - which has since been banned in Ghana and Benin- Republic,our neighbouring Countries! Mr President,you can still reverse this trend before anniversary of your one years in the Office! God bless Nigeria! 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Splashme: 5:55pm On May 12 |
When a thief is your president . |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by nairalanda1(m): 5:59pm On May 12 |
VinnyBaba: The sad thing was that by may 29 2023, 90% of our income was going to debt service. Tinubu, by removing subsides reduced it to 63% of our income. By bringing back subsidies in October 2023, it went back to 70% and rising. The truth is, we should have removed subsides in 2012. But most of you refused to listen to GEJ then. You listened to tinubu and buhari Now the delayed decison has come to haunt us 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Kanixt(m): 6:00pm On May 12 |
If Nigeria can generate over 17trillions and subsidy can engulfed over 5trillions there is not bad with it, as long as prices of goods and commodities will terribly come down. Remember the fuel subsidy is the only thing a common man is getting from national treasury. 2 Likes 1 Share |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by ednut1(m): 6:00pm On May 12 |
lwisee:we are borrowing money from IMF. So why will they leave you alone Its just like seeing someone you borrow money going to use it for betting or carrying women. U no go challenge am? 6 Likes |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by phemray(m): 6:03pm On May 12 |
jmoore: Simple, the media houses don't want to spend in getting facts but only to copy n paste what NNPC said. 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by delpee(f): 6:10pm On May 12 |
Why is this such a big headache for IMF? The FG has a right to subsidise fuel imports through NNPCL to avoid hyperinflation and more suffering for the already overburdened people. There's no evidence yet that we have a subsidy scam in place. The Western world has a lot of subsidies for their own people. Why query ours always? We really need to manage our resources better so we can avoid taking death trap loans. 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by MEEVEET: 6:15pm On May 12 |
oluwaseyi0:I am stating the facts I'm not tinubu who rushed to remove subsidy without plans then reintroduced it back after 2 weeks 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by bluefilm: 6:17pm On May 12 |
Balablue Running around in circles It's all back to square one |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Blazetrailer: 6:23pm On May 12 |
Between NNPCL and Workd Bank/IMF, which will you believe more? Certainly not an entity that has failed to account foe all the subsidy records in the past years. Certainly not the entity that does not even know how much it pays for subsidy. Certainly not the one that does not know how much litre of pretoleum it imports. Certainly not the one that can not specify the petroleum requirements to of Nigeria? ..and Certainly not the one on the side of the goverment ijustdey: 1 Like 1 Share |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Yankee101: 6:32pm On May 12 |
If Nigerians are paying that high and Dangote and the refineries are about producing, why is there a subsidy? |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Sunmolar(m): 6:34pm On May 12 |
Let those on the receiving end make clarifications. |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Dumte(m): 6:34pm On May 12 |
It is easy to steal a mandate but almost impossible to govern with it 2 Likes 1 Share |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by tuoyoojo(m): 6:40pm On May 12 |
Eriokanmi: Very indepth analysis The problem and solutions has been list We all know the solutions to our problems but we refuse to do something about it Because some big men are benefiting from that problem 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by ClearFlair: 6:42pm On May 12 |
Paraman: On what exactly? |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by SouthSouth1914: 6:42pm On May 12 |
Paraman: Does that make you right? |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Judolisco(m): 6:42pm On May 12 |
jmoore:d issue is if they sell the normal price, nobody will buy and marketers won't sell... Infact for now they are not making money at all... Most people ain't driving and most fuel stations have closed since the Price increase.... |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by LLSAINT(m): 6:44pm On May 12 |
You quote has made my day Dumte: 2 Likes 1 Share |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by MrB0LD(m): 6:44pm On May 12 |
id4sho: I was about saying the same thing.... Why is IMF so obsessed with Nigeria? They are almost taking the places of the ministries of finance and petroleum... Well, there's a good side to it, being that we get the truth of how things really are, and not the lies and propaganda our government tells us. But the Cho Cho Cho is still too much... 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by lwisee: 6:45pm On May 12 |
ednut1: Lol 😂 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Hueyreckless0007: 6:47pm On May 12 |
This man’s tenure is soo bad that he’s now making Buhari that we were all complaining about before look like a messiah. Atleast with Buhari, Npower beneficiaries were receiving 30k monthly, dollar was around 500, fuel price was around 180, food prices were abit reasonable. Things were moving normal. Tinubu removed subsidy and said they were saving, they stopped paying Npower beneficiaries, food prices skyrocketed, dollar again. Lol Tinubu till 2031 |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by IbeOkehie: 6:51pm On May 12 |
Yankee101: Dangote made it clear from as far back as 2015 or so....when he produces petrol, he will only sell to Nigerians at FULL PRICE. Right now the OFFICIAL REGULATED AND LEGAL PRICE of petrol in Nigeria is less than the full price. I suspect that's why he's refusing to sell. This is the same situation with natural gas. The producers of natural gas in Nigeria BURN IT rather than sell at the LEGAL REGULATED PRICE. No different from electricity. The official regulated price is LESS THAN the full price so the producers simply refuse to produce and supply it. There's no mystery here please. Maybe Dangote will start selling at the regulated price? Who knows, but one thing is for sure - somebody MUST pay for the fuel. But come o, is there really any debate who to believe in this matter....IMF or FGN? Come on people, get real Gasoline RBOB Futures -Real-time May 10 2024 Currency in USD 2.5004 per gallon = ₦940 per liter Good Luck to Nigeria. 4 Likes 3 Shares |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by franconian: 6:57pm On May 12 |
BigDawsNet: Taxes are paid from actual economic activities. Before you pay tax, you must have carried out an economic activity. But government just printing money to meet its needs will eventually make too much money to be in circulation, this will lead to crazy devaluation and inflation. Soon you'll need a full Ghana-must-go bag of naira to buy a loaf of bread. 1 Like |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by edungene7: 6:58pm On May 12 |
Eriokanmi:well spoken Sir when Nigerians are ready they will indeed fight for good governance for now let the misery continue 2 Likes |
Re: Petrol Subsidy ‘return’: NNPCL, IMF Disagree Over N8.43trn Loss by Dvino1: 7:01pm On May 12 |
Mr ewedu president aka BAT |
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