₦airaland Forum

Dannyset:
It's obvious you don't know a thing or you just feel like ranting this morning as you all always do.

Are you saying petrol is not being smuggled out of the country when it was being subsidized? 🤣😂🤣 You must be one hell of a joker. The whole of our borders were filled with fuel smuggling business. Go and find out why there was a protest in Niger when the subsidy was removed so to speak.

What most of you don't know is that, no matter what, fuel will be smuggled out of Nigeria to Benin and Niger because it is officially more expensive in those countries even if it is sold for 5k here.

It is just unfortunate that our customs are almost useless and we also have lots of unmanned and illegal borders.

Useless president

stonemasonn:
Alot of lessons learnt. One of which is to never trust IMF.

That was a lesson from SAP in 1986. Nigerians just never learn..

Everyone complain of doing their work in this country.

lastmessenger:
when you have first class in accounting people tend to assume that they know everything hence the sudden announcement that subsidy is gone

accounting is just multidimensional counting of financial book metrics.
It is like trusting a fufu pounder or melon peeler labourer - a simple, repetitive and mundane task - with assorted dish restaurant where fried rice, multiple sauces, african soups have to be cooked.

Or trusting a storehouse manager with product design and development in a huge manufacturing industry.

nah beg we beg una oo .Make una nor use that kind style hike petrol to 2,000k

Emu4life:
From #900 to #5k. Una wan kill Nigerians?
You and the Government are dumb, Trial and Error Policies always.
What did Nigerians gain from Currency floating and Subsidy removal?
Inflation, hardship and more Inflation.
If the Customs fail to do Thier Jobs, shouldn't someone be fired? Why should Nigerians suffer bcuz Customs can't do Thier Jobs.
Mumu People

Since your entire household has a comprehension problem, I will leave you to your fate.

Can't be without the help of customs and Navy

Na we dey kill ourselves

It's now okay to say We can't redeem this greedy country again

Why not increase the fuel price in Nigeria to make it unprofitable!

Make we die for naija because Benin and Niger republic are willing to purchase fuel at any crazy amount abi.

if the cost of production in Nigeria have been met through the remover of subsidy why all this nonsense talk

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

Oga he never floated the currency he only devalued it
If he floated our reserve would have been nearing 50 billion dollars

The same reason beans is very expensive.
Custom officials are somehow effective against importation but clueless about exportation affecting the nation more

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

Social Media has become very acidic. Most young people are now distorted and under mental illusions and it is very difficult for them to hear the voice of reasoning. Black man may never recover with the kind of people being groomed today .

What are the repercussions? The subsidy removal and the floating of Naira according to you made PMS being sold at =N=1,700 or more at neighbouring countries to be smuggled out and also leads to food being smuggled out.

So, if NNPC or Dangote sells at =N=300 per litre and Naira supported with Dollars from loans to be paid by Nigeria to bring it down, the smuggling of foods will stop leaving only Petroleum products to be smuggled out and the prices of PMS to come down at neighbouring countries all at the expense of loans taken by Nigeria.

The technicalities involved is very high and political. You and your associates can continue if you cannot decipher the situation in Nigeria.

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

The gain of Tinubu is the availability of more money for him and his cronies to loot

They have started ringing the alarm bells again,these politicians are pure evil,all this is to make sure that the pump price of fuel remains high and also and excuse for them to raise it higher.

Dannyset:
It's obvious you don't know a thing or you just feel like ranting this morning as you all always do.

Are you saying petrol is not being smuggled out of the country when it was being subsidized? 🤣😂🤣 You must be one hell of a joker. The whole of our borders were filled with fuel smuggling business. Go and find out why there was a protest in Niger when the subsidy was removed so to speak.

What most of you don't know is that, no matter what, fuel will be smuggled out of Nigeria to Benin and Niger because it is officially more expensive in those countries even if it is sold for 5k here.

It is just unfortunate that our customs are almost useless and we also have lots of unmanned and illegal borders.

I don't know if the person you quoted has replied you but this is what I think his initial post means:

1. Subsidy was never our problem. The IMF presented subsidy removal as a major solution to our economic woes and all three frontrunners in the last elections believed the idea. Baba won and hurriedly implemented the policy. Fast forward to a year later, not a single benefit has been recorded. Instead, subsidy has quietly creeped back in and this announcement from the FG is probably a ploy to further increase prices.

2. Corruption is the actual bane of our problems: I mean, if subsidy has been removed then it means the petrol that is being smuggled out should be at no extra cost to the FG regardless of how much it is sold over there. It would be a matter for the customs to tighten the borders so as to increase revenues. Something that should have been done even during the subsidy regime. Yes, smuggling could have been curtailed and inflation rate wouldn't have been so high.

Let's not deceive ourselves bro, a developing nation like ours needs massive government subsidies in select sectors such as energy and it's likes. Producers must be able to produce at costs where selling at prices that are affordable to average Nigerians will still earn them decent profits. They should also be protected from foreign alternatives by increasing import duties on finished products. That's how to encourage local production and strengthen the local currency.

professorPABX:
Social Media has become very acidic. Most young people are now distorted and under mental illusions and it is very difficult for them to hear the voice of reasoning. Black man may never recover with the kind of people being groomed today .

What are the repercussions? The subsidy removal and the floating of Naira according to you made PMS being sold at =N=1,700 or more at neighbouring countries to be smuggled out and also leads to food being smuggled out.

So, if NNPC or Dangote sells at =N=300 per litre and Naira supported with Dollars from loans to be paid by Nigeria to bring it down, the smuggling of foods will stop leaving only Petroleum products to be smuggled out and the prices of PMS to come down at neighbouring countries all at the expenses of loans taken by Nigeria.

The technicalities involved is very high and political. You and your associates can continue if you cannot decipher the situation in Nigeria.

You are wasting your precious time arguing with the tribe blinded 1gn0ramus commenting on Nairaland. They are just here for our amusement.

Everything about APC is always pointing fingers crossed border sealing of fuel never start today

for the customs CG to be saying this means that he has no shame. ideally, he is not supposed to allow a single tanker to find its way through the borders. if products are being smuggled under his watch, that is what he is supposed to be talking about and not the price of the product across the border

Nor upto that

oluwaseyi0:
Don't tell me even with the 700 per liter Nigeria is still the cheapest in the region

The problem with unreasonable empty headed people like you is that they don't consider how weak the naira has become.

Try to find out the exchange rate btw your weaker currency and Benin CFA.

100millionGoal:
The ones who mastermined the smuggling are also the ones acting the most surprised.

One politician somewhere have confirmed alert and is now a multi billionaire

😂😂😂😂😂😂

professorPABX:
Social Media has become very acidic. Most young people are now distorted and under mental illusions and it is very difficult for them to hear the voice of reasoning. Black man may never recover with the kind of people being groomed today .

What are the repercussions? The subsidy removal and the floating of Naira according to you made PMS being sold at =N=1,700 or more at neighbouring countries to be smuggled out and also leads to food being smuggled out.

So, if NNPC or Dangote sells at =N=300 per litre and Naira supported with Dollars from loans to be paid by Nigeria to bring it down, the smuggling of foods will stop leaving only Petroleum products to be smuggled out and the prices of PMS to come down at neighbouring countries all at the expenses of loans taken by Nigeria.

The technicalities involved is very high and political. You and your associates can continue if you cannot decipher the situation in Nigeria.

Not at all. However, tightening the borders to prevent smuggling, subsidising energy to bring down the cost of production and discouraging importation of finished goods by increasing duties will stimulate industrial growth and save us scarce Forex in the long run. We wouldn't have to care about the price of petrol in neighbouring countries. But where is the political will to do the right things?

That's what China is doing bro. That's why Chinese EVs are more competitive in the European market and the IMF / Americans are not happy about it.

100millionGoal:
The ones who mastermined the smuggling are also the ones acting the most surprised.

One politician somewhere have confirmed alert and is now a multi billionaire

You are no different..

You just don't have the opportunity..

100millionGoal:
The ones who mastermined the smuggling are also the ones acting the most surprised.

One politician somewhere have confirmed alert and is now a multi billionaire

. The military and the custom will be actively involved in the process.

VeeVeeMyLuv:
IMF told that man to float the naira, he hurriedly carried out and implemented the policy.

Now just look at the repercussions. 😡 Not only are they smuggling petrol out, they are also smuggling foodstuffs out of the country.

What did this Foolish man gain now from subsidy is gone and float of currency? Absolutely nothing.

The more things change, the more they remain the same.

Another moronic spew from a misguided pained, Ignorant juvenile..

morgstreme:
You are no different..

You just don't have the opportunity..

I'm different you slowpoke.

This stupid mentality is what got us here in the first place rubbish...

Zimzy:
. The military and the custom will be actively involved in the process.

100%

This na propaganda they want to increase the fuel to 1k per litre ,let us watch and see.

emorse:
I don't know if the person you quoted has replied you but this is what I think his initial post means:

1. Subsidy was never our problem. The IMF presented subsidy removal as a major solution to our economic woes and all three frontrunners in the last elections believed the idea. Baba won and hurriedly implemented the policy. Fast forward to a year later, not a single benefit has been recorded. Instead, subsidy has quietly creeped back in and this announcement from the FG is probably a ploy to further increase prices.

2. Corruption is the actual bane of our problems: I mean, if subsidy has been removed then it means the petrol that is being smuggled out should be at no extra cost to the FG regardless of how much it is sold over there. It would be a matter for the customs to tighten the borders so as to increase revenues. Something that should have been done even during the subsidy regime. Yes, smuggling could have been curtailed and inflation rate wouldn't have been so high.

Let's not deceive ourselves bro, a developing nation like ours needs massive government subsidies in select sectors such as energy and it's likes. Producers must be able to produce at costs where selling at prices that are affordable to average Nigerians will still earn them decent profits. They should also be protected from foreign alternatives by increasing import duties on finished products. That's how to encourage local production and strengthen the local currency.

Correct, but this is not the point of contention.

I am trying to correct the notion that said fuel smuggling to neighbouring countries was because subsidy was removed. That's a big misconception.

Why

This is fantastic news.

The government should continue lying through its teeth that the subsidy is gone. The smuggling speaks volumes.

The price of petrol has to be deregulated as done with AGO and kerosene. It's removal would greatly improve the fiscal position of the federal government and end distortions to the economy.