₦airaland Forum

Removal of fuel subsidy is one of the most important economic decisions Nigeria has made in at least 20 years.

I dare Nigeria to restore fuel subsidy now. Try it. Just try it Nigeria.

Most Nigerians, including the educated ones, have little or no understanding of how an economy works.

If fuel subsidy is restored today, things will look ok for 3 months max, but Nigeria's economy will then promptly face imminent collapse.

The only people that will be happy will be international and domestic speculators. They will destroy the naira. They care less about how many millions of people will suffer in Nigeria. I know what I am saying. The speculators in London will be popping Champagne.

Go ahead and restore full subsidy and see the naira plunge to at least N3000 or more within a few months. Go ahead. Just try it.

When a loaf of bread is N7000, people will start pleading for subsidy to be removed again. Not possible? Ask people in Lebanon, Argentina, and Egypt.

People like Mr Falana and the others jostling for cheap media publicity on Arise TV don't know their right from left when it comes to how an economy operates.

But those are the people many of your listen to.

I repeat, remove subsidy now. Go on. Just try it.

Even as an individual, when you have lived on borrowing and above your means for many years, a time will come when those lending you money will turn around and say, we can't lend you any more.

What do you do. You call your wife and reveal there is trouble and that all the flashy lifestyle you have given the family over the years was financed on debt. Now, the debtors want their money back and they are lending no more.

Your wife will probably burst into tears, in shock. The next question would be, what do we do now. You will both know at that point it is time to change course or the family will be in peril. Extreme belt tighning will have to come in. Sacrifices will need to be made by all members of the family.

Out goes expensive supermarket shopping, the Toyota land Cruiser will have to go, no more million naira wig for madam. Nifemi and Tolade will need to leave their N2 million per term private school. And so on and so forth. This is what a reasonable family will do. An unreasonable family will keep on insisting they can continue as before, and then they will run themselves into a financial ditch. They lose their house, cars, and other assets as the lenders come for their money. Now they are homeless, children are out of school and sent to grandma in the village out of shame.

Nigeria has been living on debt and above its level for at least 20 years, may be more. Infact, by the time Mr Buhari was leaving, some lenders were no longer willing to lend Nigeria money because they were concerned we may not be able to pay back. Nigeria was that broke and in dire straits.

Under Mr Buhari, we were using over 90% of our revenues to pay back debts. Just think about that for a minute. Over 90%!

To continue subsidy would have been economically suicidal for Nigeria.

Thankfully, a new President came in and realised that instead of the fake life Nigeria had been living all these years, we needed to urgently tighten our belt and he took what I consider to be one of the most significant decisions any Nigerian President has taken in almost 50 years. He removed the ruinous subsidy.

The man saved us!

Is removal of subsidy creating severe hardship. Absolutely. But Nigeria's situation would have been far worse a few years later if that decision had not been taken when the President took it.

DeLaRue:
Even as an individual, when you have lived on borrowing and above your means for many years, a time will come when those lending you monet will turn around and say, we can't lend you any more.

Returning subsidy means subsidizing fuel consumption of neighboring countries at our own expense.If you live in any of our national border towns, you will understand me.Electricity can be subsidized but not fuel.

DeLaRue:
Removal of fuel subsidy is one of the most important economic decisions Nigeria has made in at least 20 years.

I dare Nigeria to restore fuel subsidy now. Try it. Just try it Nigeria.

Most Nigerian, including the educated one, have little or no understanding of how an economy works.

If fuel subsidy is removed today, things will look ok for 3 months max, but Nigeria's economy will then promptly face imminent collapse.

The only people that will be happy will be international and domestic speculators. They will destroy the naira. They care less about how many millions of people will suffer in Nigeria. I know what I am saying. The speculators in London will be popping Champagne.

Go ahead and restore full subsidy and see the naira plunge to at least N3000 or more within a few months. Go ahead. Just try it.

When a loaf of bread is N7000, people will start pleading for subsidy to be removed again. Not possible. Ask people in Lebanon, Argentina, and Egypt.

People like Mr Falana and the others jostling for cheap media publicity on Arise TV don't know their right from left when it comes to how an economy operates.

But those are the people many of your listen to.

I repeat, remove subsidy now. Go on. Tust try it.

if the subsidy is been restored back, nothing happens joor. It just that Tinubu government have further make things worse for Nigeria masses.

CriminalTinubu:
Agbadonomics professors and analysts on the loose after realizing that Nigeria nor be Lagos.

He gave some analytic points that u should be familiar with from your basic economics in school but as for u, no cogent point whatsoever. U just came here to troll like u skipped all your classes in school

Na logical debate be this, no be beer-parlour gist that u guys from the East are conversant with

No be your fellow obidient dey here abeg

But the govt is still paying subsidy from the back door. If not petrol price will be in the region of 1200-1500 per litre.

press9jatv:
if the subsidy is been restored back, nothing happens joor. It just that Tinubu government have further make things worse for Nigeria masses.

Try it na.

Just try it.

This President announced in his speech that the proportion of debt servicing as a percentage of our total revenue has gone down from over 90% to around 65%!

In just over 1 year of being in office. That's incredible.

In 8 years, Mr Buhari borrowed so much that that ratio went to over 90%, but in just over a year, through prudent management, Mr Tinubu has reduced it to 65%.

My fellow citizens, this is an incredible achievement by any President.

Did our media realise and acknowledge this very important achievement. No. No. No. Did they give the President any credit. Na. Why?

Because, reporting doom and gloom, and instilling fear through non-stop encouragement of protests is the kind of news will that sell well and make the media more money.

The media love chaos and bad news. More money baby! Mr Falana and his likes also get a fix of their hunger for publicity and self importance.

If you are an average Nigerian, use your head. Do your own research. The media will only feed you what they want you to hear.

DeLaRue:
Try it na.

Just try it.

if Tinubu tried to return the fuel subsidy, price of good commodities and other products will reduced tremendously. Don’t you know the higher the price of fuel, the higher the inflation of all the products Nigerians consume. Nnpc stations can’t be in the village now.

Most Nigerians also assume the Nigerian President or even the CBN determine the naira to dollar exchange rate.

They can, if Nigerian has Saudi Arabia's type of reserve. But, Nigeria doesn't.

So, a lot of the value of the Naira is determined by externalities that are not all within the control of the CBN.

Currency traders have a lot to do with the sentiment around any currency. That in turn can influence the price of your currency. London is the world's largest currency market.

If London currency traders see signs that we are not serious about taking the right decisions to tighten our belt, particularly in relation to fuel subsidy, they will attack the naira and it will be in free fall.

I laugh when people say Mr Atiku or Mr Obi will have been able to keep subsidy at the same level it was previously. The message from currency traders will be, President Obi or President Atiku, you want to keep paying full subsidy so you can be popular with your people? No problem. However, in that case, your naira should be worth no more that N5000 to 1 dollar.

Within a few days, the currency traders will start attacking the naira. When price of bread reach N10000 per loaf, a President Atiku or Obi will crawl back begging to be allowed to remove subsidy

Mr Tinubu is doing a relatively good job presently. He said we should allow more time for his reforms to bear fruits. He deserves more time. You can't wipe away 30-year rot with a single wipe.

Removal of subsidy, introduction of student loan, reduction in debt repayment ratio, local government financial autonomy are all ground breaking achievements that no President in the history of Nigeria has achieved. And he has done all these in just over a year.

I feel sorry for Mr Tinubu. He deserves some credit.

DeLaRue:
Removal of fuel subsidy is one of the most important economic decisions Nigeria has made in at least 20 years.

I dare Nigeria to restore fuel subsidy now. Try it. Just try it Nigeria.

Most Nigerians, including the educated ones, have little or no understanding of how an economy works.

If fuel subsidy is restored today, things will look ok for 3 months max, but Nigeria's economy will then promptly face imminent collapse.

The only people that will be happy will be international and domestic speculators. They will destroy the naira. They care less about how many millions of people will suffer in Nigeria. I know what I am saying. The speculators in London will be popping Champagne.

Go ahead and restore full subsidy and see the naira plunge to at least N3000 or more within a few months. Go ahead. Just try it.

When a loaf of bread is N7000, people will start pleading for subsidy to be removed again. Not possible? Ask people in Lebanon, Argentina, and Egypt.

People like Mr Falana and the others jostling for cheap media publicity on Arise TV don't know their right from left when it comes to how an economy operates.

But those are the people many of your listen to.

I repeat, remove subsidy now. Go on. Just try it.

You seem to be among the few Nigerians who know how an economy works.

I'm certain you will agree that we shouldn't vote anyone who does not understand how economy works into office. I'm also certain you voted Tinubu into office.

So, Tinubu and Co railed against subsidy removal in 2012. It means he does not know how an economy works. Can you explain to us why you voted for him despite his antecedents showing he is among the majority of ignorant Nigerians who don't understand how an economy works? You are one of the main problems of this country then.

If we are to apply logic to your claim that Nigeria will fold in 3months max if subsidy is returned, here's how it will look.

Obasanjo removed subsidy in 2005 and then returned it after 2 weeks of strike by NLC

Jonathan removed subsidy in 2012 and then returned it after 2 weeks of protests led by the opposition

Buhari removed subsidy in 2016 and returned it after some months.

In the above 3 scenarios, can you show us with cogent statistics how Nigeria's economy collapsed after the 3months of subsidy return?

There you have it. You are simply lying and spilling ignorance.

I dare tinubu to fight corruption
Just fight corruption first

magoo10:
I dare tinubu to fight corruption
Just fight corruption first

corruption is everywhere all over the world including China and North Korea. It’s in Africa that the corruption is so so much and destroyed the lives of people

DeLaRue:
Even as an individual, when you have lived on borrowing and above your means for many years, a time will come when those lending you money will turn around and say, we can't lend you any more.

What do you do. You call your wife and reveal there is trouble and that all the flashy lifestyle you have given the family over the years was financed on debt. Now, the debtors want their money back and they are lending no more.

Your wife will probably burst into tears, in shock. The next question would be, what do we do now. You will both know at that point it is time to change course or the family will be in peril. Extreme belt tighning will have to come in. Sacrifices will need to be made by all members of the family.

Out goes expensive supermarket shopping, the Toyota land Cruiser will have to go, no more million naira wig for madam. Nifemi and Tolade will need to leave their N2 million per term private school. And so on and so forth. This is what a reasonable family will do. An unreasonable family will keep on insisting they can continue as before, and then they will run themselves into a financial ditch. They lose their house, cars, and other assets as the lenders come for their money. Now they are homeless, children are out of school and sent to grandma in the village out of shame.

Nigeria has been living on debt and above its level for at least 20 years, may be more. Infact, by the time Mr Buhari was leaving, some lenders were no longer willing to lend Nigeria money because they were concerned we may not be able to pay back. Nigeria was that broke and in dire straits.

Under Mr Buhari, we were using over 90% of our revenues to pay back debts. Just think about that for a minute. Over 90%!

To continue subsidy would have been economically suicidal for Nigeria.

Thankfully, a new President came in and realised that instead of the fake life Nigeria had been living all these years, we needed to urgently tighten our belt and he took what I considered one of the most significant decisions any Nigerian President has taken in almost 50 years. He removed the ruinous subsidy.

The man saved us!

Is removal of subsidy creating severe hardship. Absolutely. But Nigeria's situation would have been far worse a few years later if that decision had not been taken when the President took it.

Can you give us a list of nations who do not live on debt? Like nations who do not have debts
I like your bolded. Can you show us that all members of the family are making sacrifices in the peculiar circumstance of Nigeria? We have the largest cabinet in history. Our president just got a new jet. He just completed a new residence for his VP and renovated the lodge in Lagos for himself. He just gave judges 300% salary increment. Aso Rock and NASS got their largest budgets in our history. Even the first lady's office got some tidy billions anew. We sent the largest delegation to the Climate event etc. It seems some are exempted from the sacrifices don't you think?

You claim Nigeria has lived on debt for 20years. Nigeria actually paid off almost all its debt in 2005, 19 years ago. Seems you enjoy lying. Why? To defend an individual? How much are you paid to lie?

I'm surprised a lot of you just write this nonsense of 90% of revenue to service debt. If so, how then is the govt running? on 10%? Haba!! Use your brain na

press9jatv:
corruption is everywhere all over the world including China and North Korea. It’s in Africa that the corruption is so so much and destroyed the lives of people

that shouldn't be an excuse.
Fighting corruption is one of the way out presently.
There are a number of corrupt individuals whether politically or otherwise that have amassed stolen funds capable of making each state in Nigeria economically prosperous.
If he can't fight it he should leave the stage.

DeLaRue:
Even as an individual, when you have lived on borrowing and above your means for many years, a time will come when those lending you money will turn around and say, we can't lend you any more.

What do you do. You call your wife and reveal there is trouble and that all the flashy lifestyle you have given the family over the years was financed on debt. Now, the debtors want their money back and they are lending no more.

Your wife will probably burst into tears, in shock. The next question would be, what do we do now. You will both know at that point it is time to change course or the family will be in peril. Extreme belt tighning will have to come in. Sacrifices will need to be made by all members of the family.

Out goes expensive supermarket shopping, the Toyota land Cruiser will have to go, no more million naira wig for madam. Nifemi and Tolade will need to leave their N2 million per term private school. And so on and so forth. This is what a reasonable family will do. An unreasonable family will keep on insisting they can continue as before, and then they will run themselves into a financial ditch. They lose their house, cars, and other assets as the lenders come for their money. Now they are homeless, children are out of school and sent to grandma in the village out of shame.

Nigeria has been living on debt and above its level for at least 20 years, may be more. Infact, by the time Mr Buhari was leaving, some lenders were no longer willing to lend Nigeria money because they were concerned we may not be able to pay back. Nigeria was that broke and in dire straits.

Under Mr Buhari, we were using over 90% of our revenues to pay back debts. Just think about that for a minute. Over 90%!

To continue subsidy would have been economically suicidal for Nigeria.

Thankfully, a new President came in and realised that instead of the fake life Nigeria had been living all these years, we needed to urgently tighten our belt and he took what I considered one of the most significant decisions any Nigerian President has taken in almost 50 years. He removed the ruinous subsidy.

The man saved us!

Is removal of subsidy creating severe hardship. Absolutely. But Nigeria's situation would have been far worse a few years later if that decision had not been taken when the President took it.

.

Oga I beg keep quiet. The plague in aso rock said one of his primary aim of removing fuel subsidy is, he "can't continue to subsidize for our neighbors" but today I can tell you the people smuggling this product are nscdc, police, customs and soldiers. I dare you to come to Idiroko border, don't pass through the main gate but bush path and motor cycle and you will weep for this country.

Jogs1900:
Returning subsidy means subsidizing fuel consumption of neighboring countries at our own expense.If you live in any of our national border towns, you will understand me.Electricity can be subsidized but not fuel.

Is this not a result of corruption? Why can't the institutions do their jobs? The corruption in the subsidy is the problem not the subsidy itself. All over the world, items are subsidized by governments. If you are taking away fuel subsidy, then massively and transparently subsidize food.

Again, corruption rears its head when farmers assisted by governments cart the produce to neighboring countries to sell to make more money, again this is where strong institutions are needed.

How about cutting down cost of governance?

Tinubu's government is the most bloated since Obj. He's a well known cronyist creating food for boys to retain loyalty at the expense of an ailing economy.

What's the latest on getting our refineries to work or build new ones? I bet they are not priorities to him because of his boys in Malta.

Building a new refinery and building the costal road, which one is more profitable now for Nigerians?

magoo10:
that shouldn't be an excuse.
Fighting corruption is one of the way out presently.
There are a number of corrupt individuals whether politically or otherwise that have amassed stolen funds capable of making each state in Nigeria economically prosperous.
If he can't fight it he should leave the stage.

he can never fight corruption cos’ he’s the grandfather of corruption

Kukutente23:
You seem to be among the few Nigerians who know how an economy works.

So, Tinubu and Co railed against subsidy removal in 2012. It means he does not know how an economy works. Can you explain to us why you voted for him despite his antecedents showing he is among the majority of ignorant Nigerians who don't understand how an economy works? You are one of the main problems of this country then.



There you have it. You are simply lying and spilling ignorance.

I am not interested in the usual histrionics concerning who railed against fuel subsidy 12 years ago.

It is petty and uninsightful to insist that if I, for example, opposed a decision 12 years ago, or even last week, I must never be allowed to change my mind if circumstances have evolved/changed.

If you look at the value of subsidy paid under Mr Obasanjo, and Mr Jonathan, you will see that it was much smaller relative to the size of the economy under those administrations. However, under Mr Buhari, the subsidy ballooned to incredible, unaffordable proportions.

So, people who protested against removal in 2012 are perfectly entitled to support removal now because subsidy of 2023 was on a different level compared to 2012.

If I am right, I believe in the last years of Mr Buhari's administration, we were spending about 25% of our entire budget on subsidy. And we were borrowing to pay it.

Borrowing to live a fake life. Is that logical?

You also made the wrong assumption that I voted for the current President.

press9jatv:
he can never fight corruption cos’ he’s the grandfather of corruption

that means we are saying same thing.

DeLaRue:
I am not interested in the usual histrionics concerning who railed against fuel subsidy 12 years ago.

It is petty and uninsightful to insist that if I, for example, opposed a decision 12 years ago, or even last week, I must never be allowed to change my mind if circumstances have evolved/changed.

If you look at the value of subsidy paid under Mr Obasanjo, and Mr Jonathan, you will see that it was much smaller relative to the size of the economy under those administrations. However, under Mr Buhari, the subsidy ballooned to incredible, unaffordable proportions.

So, people who protested against removal in 2012 are perfectly entitled to support removal now because subsidy of 2023 was on a different level compared to 2012.

If I am right, I believe in the last years of Mr Buhari's administration, we were spending about 25% of our entire budget on subsidy. And we were borrowing to pay it.

Borrowing to live a fake life. Is that logical?

You also made the wrong assumption that I voted for the current President.

Of course a man is allowed to change his man. Intellect is dynamic not static. But has he apologised for the wrong he did the nation by stifling progress based on his ignorance? His radicalism based on ignorance has caused the nation so much mess. So he should first apologise and you should demand that of him instead of covering him in a garb of a latter day reformist.

It seems you are even more ignorant than most Nigerians. Can you explain how subsidy during the period when the economy was growing at 7% is lower than the period when the economy is growing at 2-3% and even had recessions? Is that logical? A growing economy should create more demand than a contracting one. How did demand grow under a stifling economy than under a growing one in this circumstance?

Borrowing to pay for subsidy does not equate to living a fake life. US debt as at today is over 100% of its GDP yet it still heavily subsidizes its agric, oil and gas and real estate sectors. If you want to defend capitalist principles, at least be well grounded in it instead of just appealing to sentiments and crude economics using such phony terms as "fake life".

You did not explain how you arrived at your projection that the economy will collapse within 3months of subsidy return. You sounded cocksure when you wrote that!

press9jatv:
if Tinubu tried to return the fuel subsidy, price of good commodities and other products will reduced tremendously. Don’t you know the higher the price of fuel, the higher the inflation of all the products Nigerians consume. Nnpc stations can’t be in the village now.

That is why I said things would be OK for may be 3 months. Infact knowing our people, they'll troop out and start celebrating.

Just give it 3 months or so, the Naira will reach lows that it has never reached before. The things that became cheap for a couple of months would suddenly become even more expensive than they were before full subsidy was returned.

People would start blaming that President for returning subsidy. No be Nigeria

Nigeria simply doesn't have the money to restore full subsidy for more than 3 months may be.

magoo10:
that means we are saying same thing.

yes

DeLaRue:
That is why I said things would be OK for may be 3 months. Infact knowing our people, they'll troop out and start celebrating.

Just give it 3 months or so, the Naira will reach lows that it has never reached before. The things that became cheap for a few a couple of months would suddenly become even more expensive than they were before full subsidy was returned.

People would start blaming that President for returning subsidy. No be Nigeria

Nigeria simply doesn't have the money to restore full subsidy for more than 3 months may be.

nope, it will never happen. Huge corruption going on the removal of the fuel subsidy

This one seems to be high on cheap drugs. He doesn't know what he is saying. He is just shouting like a druggie...Try it nah!...Try it nah!!!

The bigger issue is that the thoughtless currency devaluation is even the bigger problem informing inflation, much more than the subsidy removal. Currently, the government can not claim not to be subsidising petroleum products. They know that.

DeLaRue:
Removal of fuel subsidy is one of the most important economic decisions Nigeria has made in at least 20 years.

I dare Nigeria to restore fuel subsidy now. Try it. Just try it Nigeria.

Most Nigerians, including the educated ones, have little or no understanding of how an economy works.

If fuel subsidy is restored today, things will look ok for 3 months max, but Nigeria's economy will then promptly face imminent collapse.

The only people that will be happy will be international and domestic speculators. They will destroy the naira. They care less about how many millions of people will suffer in Nigeria. I know what I am saying. The speculators in London will be popping Champagne.

Go ahead and restore full subsidy and see the naira plunge to at least N3000 or more within a few months. Go ahead. Just try it.

When a loaf of bread is N7000, people will start pleading for subsidy to be removed again. Not possible? Ask people in Lebanon, Argentina, and Egypt.

People like Mr Falana and the others jostling for cheap media publicity on Arise TV don't know their right from left when it comes to how an economy operates.

But those are the people many of your listen to.

I repeat, remove subsidy now. Go on. Just try it.

why didn't it jump to 3000 when PDP was subsidizing fuel. Oga stop giving excuses for failure.

villagereporter:
.

Oga I beg keep quiet. The plague in aso rock said one the primary aim of removing fuel subsidy i" he can't continue to subsidize for our neighbors" but today I can tell you the people smuggling this product are nscdc, police, customs and soldiers. I dare you to come to Idiroko border, don't pass through the main gate but bush path and motor cycle and you will keep for this country.

Things are more complex than you realise.

The government is still subsidising fuel, albeit partially. That is why in my previous comments, I used the words 'full subsidy' to distinguish the current 'partial subsidy'.

If the government is not subsidising at all, fuel price will be above N1200.

Even with partial subsidy, our fuel is still cheaper than in neighbouring countries, thus encouraging smuggling.

The government can't win.

If it stops partial fuel subsidy, smuggling will reduce significantly or stop, but Nigerians can't afford N1200 fuel price. So, the government have to continue to try and keep the price not too high, but that means smuggling will continue.

So, you see, running a country like Nigeria is not easy.

In any case, if customs officials are aiding smuggling, what can a President do. Even if you change the officials there every month, the new ones will also be corrupt.

It is an endemic Nigerian problem.

DeLaRue:
Things are more complex than you realise.

The government is still subsidising fuel, albeit partially. That is why in my previous comments, I used the words 'full subsidy' to distinguish the current 'partial subsidy'.

If the government is not subsidising at all, fuel price will be above N1200.

Even with partial subsidy, our fuel is still cheaper than in neighbouring countries, thus encouraging smuggling.

The government can't win.

If it stops partial fuel subsidy, smuggling will reduce significantly or stop, but Nigerians can't afford N1200 fuel price. So, the government have to continue to try and keep the price not too high, but that means smuggling will continue.

So, you see, running a country like Nigeria is not easy.

In any case, if customs officials are aiding smuggling, what can a President do. Even if you change the officials there every month, the new ones will also be corrupt.

It is an endemic Nigerian problem.

I don't know whether you av read about FIJ journalist called Soyombo who as, investigative journalist was revealing endemic corruption in Nigeria custom through Oja Odan, Ilashe and Ilaro border towns but how many customs official has been arrested or jail since then? The govt pretended like nothing happens and the journalist is being hounded, what a mad government.

C en I neither give a Bleep nor damn about who rule this country provided at least-I'm not asking too- I enjoy 55% percent of social amenities being enjoy even in Benin Republic talk more of advance countries.

Or do you think everybody want to japa?

DeLaRue:
I am not interested in the usual histrionics concerning who railed against fuel subsidy 12 years ago.

It is petty and uninsightful to insist that if I, for example, opposed a decision 12 years ago, or even last week, I must never be allowed to change my mind if circumstances have evolved/changed.

If you look at the value of subsidy paid under Mr Obasanjo, and Mr Jonathan, you will see that it was much smaller relative to the size of the economy under those administrations. However, under Mr Buhari, the subsidy ballooned to incredible, unaffordable proportions.

So, people who protested against removal in 2012 are perfectly entitled to support removal now because subsidy of 2023 was on a different level compared to 2012.

If I am right, I believe in the last years of Mr Buhari's administration, we were spending about 25% of our entire budget on subsidy. And we were borrowing to pay it.

Borrowing to live a fake life. Is that logical?

You also made the wrong assumption that I voted for the current President.

Subsisdy ballooned because of supersonic corruption - fight the corrupt rather than punish the masses.
Secondly no one removes subsidy in one hour of resumption and removes it hundred percent.

No country has ever done that in the world before us.

DeLaRue:
Removal of fuel subsidy is one of the most important economic decisions Nigeria has made in at least 20 years.

I dare Nigeria to restore fuel subsidy now. Try it. Just try it Nigeria.

Most Nigerians, including the educated ones, have little or no understanding of how an economy works.

If fuel subsidy is restored today, things will look ok for 3 months max, but Nigeria's economy will then promptly face imminent collapse.

The only people that will be happy will be international and domestic speculators. They will destroy the naira. They care less about how many millions of people will suffer in Nigeria. I know what I am saying. The speculators in London will be popping Champagne.

Go ahead and restore full subsidy and see the naira plunge to at least N3000 or more within a few months. Go ahead. Just try it.

When a loaf of bread is N7000, people will start pleading for subsidy to be removed again. Not possible? Ask people in Lebanon, Argentina, and Egypt.

People like Mr Falana and the others jostling for cheap media publicity on Arise TV don't know their right from left when it comes to how an economy operates.

But those are the people many of your listen to.

I repeat, remove subsidy now. Go on. Just try it.

Buhari that left it there for 8yrs nko?
It our money, let him use it and subsidise the fuel.