₦airaland Forum

casualobserver:
This is why I say remove the subsidy fully or we return to square one.

Albinoflash:
guy is too early to sound fullish ooo, tinubu said subsidy is gone,now we dey hear remove it fully,was that the agreement or the initial statement

nairalanda1:
\

SO that is why you called me a dunce?

Sorry, but I don';t talk with bullies. I thought you changed

Good morning, dear lad.

nairalanda1:
Why do you let internet comments hurt you so, dear lad?

Mercylike:
We have useless custom......... People are busy smuggling fuels while the owners are suffering..

Truly truly Nigeria is cursed.. It will. Be hard to believe otherwise

lexy2014:
why would you think of stopping all the subsidies?

is subsidies peculiar to nigeria?

do you think developed countries dont give subsidies?

what is the result of the subsidies removed so far?

tinubu, his vice, their wives and children, members of the national assembly, governors and their state legislators enjoy free food, free transportation, free accommodation, free security, free fuel, free internet, free electricity, free healthcare, free phone calls, free clothing all at home and abroad.

how come it is ok for the political elite to enjoy freebies but its not ok for the citizens to enjoy subsidies?

Realdeals:
Subsidy should be predicated on the surplus of resources, which should be brought about by increased productivity especially of the citizens.

lexy2014:
that is not what I asked you.

1. why would you think of stopping all the subsidies?

2. is subsidies peculiar to nigeria?

3. do you think developed countries dont give subsidies?

4. what is the result of the subsidies removed so far?

tinubu, his vice, their wives and children, members of the national assembly, governors and their state legislators enjoy free food, free transportation, free accommodation, free security, free fuel, free internet, free electricity, free healthcare, free phone calls, free clothing all at home and abroad.

5. how come it is ok for the political elite to enjoy freebies but its not ok for the citizens to enjoy subsidies?

lexy2014:
that is not what I asked you.

1. why would you think of stopping all the subsidies?

2. is subsidies peculiar to nigeria?

3. do you think developed countries dont give subsidies? Is Nigeria a developed country?

4. what is the result of the subsidies removed so far? Do you expect sudden results? from my understanding, only FX liberalization has been done to the fullest

tinubu, his vice, their wives and children, members of the national assembly, governors and their state legislators enjoy free food, free transportation, free accommodation, free security, free fuel, free internet, free electricity, free healthcare, free phone calls, free clothing all at home and abroad.

5. how come it is ok for the political elite to enjoy freebies but its not ok for the citizens to enjoy subsidies? Inequality will always exist in the society.

Realdeals:
Subsidy should be predicated on the surplus of resources, which should be brought about by increased productivity especially of the citizens. The bolded answer 1-2

madridguy:
Failure of our past and present leaders. Imagine a country as big as this with no good borders and effective custom officers.

iLegendd:
Officers, politicians and co. are still the people doing the smuggling. It's sad how corruption will never let us progress as a collective.

Oyibo people really destroyed Africa with freedom and democracy. In those days, when catching a thief was through voodoo, terrible things hardly happen.

We can still achieve greatness and less to zero corruption like Singapore with technology. Sadly, the Nigerian man operating those techies will still end up being compromised.

nairalanda1:
Okay, young lad.

komzy589:
Omo see foolishness na.
It’s now ‘remove subsidy fully’🤦‍♂️🤦‍♂️

casualobserver:
Tinubu needs to sustain the Naira float, it will settle where it settles. He should remove subsidy. All these people panicking because there is difficulty only show why successive governments have led to this point. They don’t have the balls to do the right thing. What kind of person is advocating g a return of subsidies either Forex or petrol?

You cannot change your life without pain. If it costs him his second term so be it but he needs to sustain the reforms.

casualobserver:
clearly you are a product of a failed education system. i said he need to remove subsidy which implies i know subsidy is back.

casualobserver:
I will not forgive Tinubu if he backs down on these reforms, as it is I am unhappy he has reintroduced subsidy, we all need to rest our brains.

casualobserver:
You do not understand economics, this thing is above your pay grade.


We had no money as at May 29. We devalued the Naira which means the government is now getting 4 times more Naira that it did for every barrel of crude it sells. This means that for every dollar it used to get it needs less dollars to convert to Naira to meet its local obligations. Which means it can keep more of the dollars it earns and use for other things like subsidy although I have said subsidy should be removed totally. We are feeling pain because we did. It do what we needed to do at the right time. Petrol should be N1200, we are merely delaying the pain by reintroducing subsidy through the back door. If petrol needs to go to N2000, so be it. We need to change our habits. They don’t drive the cars we drive in Europe because petrol is expensive. It is only in Nigeria you will see a poor man driving a V8 gas guzzling used Lexus.

lexy2014:
since you read the post, then you should be able to answer the question.

How are other countries benefitting?

TEYA:
My brain is for me alone, I will not use it to think for you. Use your God -given brain to read and answer your question.

casualobserver:
I have been consistent. Check the dates some as far back as February









The title of this thread is exactly why I am against any form of fuel subsidy. We will eventually get back to where we were with inflated consumption numbers and where we end up subsidizing petrol for our neighbours. You cannot have petrol subsidies in a nation that has porous borders when your neighboring countries sell petrol at a rate 2x ours. If Niger, chad, Benin and Cameroun can pay N1200 for petrol then so can we, their citizens are poorer or just as poor as us and they are not rioting because petrol is N1200.

Spandau:
You're back. Seunmsg is gone. See what I mean people?

lexy2014:
where in the world is fuel subsidy the reason why smuggling is successful?

Realdeals:
Very few understand your reasoning. I told someone if I was the President, I will stop all form of subsidy. Tinubu has been able to stop FX subsidy totally, remains fuel and electricity.

IbeOkehie:
You've been told multiple times...VENEZUELA and LIBYA and others. Anyone can pull up their history on the internet and be informed.

@Nairalanda is completely correct, except he tries to fake some kind of neutrality by blaming PDP. Thank goodness he's slowly trying to accept the obvious, that PDP at least tried to do the right thing.

Price controls and subsidies are dangerous. All the debate about why smuggling stopped last year and now resumed, NNPC corruption and so on is a useless distraction. Privatize all companies and resources and deregulate all prices and the market will function smoothly.

Take an example. There's lots of controversy about the sale or merger of OVH to NNPC or whatever. All kinds of accusations everywhere.

Notice when Diamond Bank collapsed and it was bought by Access Bank, there was zero such controversy.

Lesson - keep government away from owning or controlling business because it CAUSES corruption that affects the public purse. If NNPC and OVH were both private nobody would give a damn.

I suspect you're very young though. It's always like that.

Good Luck to Nigeria.

lexy2014:
ca you show me where I have been told about Libya and Venezuela?

what is the border situation in venezuela and libya?

let me ask you if fuel subsidy is the reason for smuggling fuel out of nigeria to neighbouring countries, how is this fuel transported out of nigeria?

can you pls explain how subsidy is dangerous?

why is "All the debate about why smuggling stopped last year and now resumed, NNPC corruption and so on is a useless distraction" when you claim that Venezuela and Libya experience smuggling of fuel because of subsidy?

when did diamond bank collapse?

all these years, we have been told that the justification for fuel price increase is to discourage smuggling to neighbouring countries.

After all the price increases under the guise of removing subsidy, how come smuggling of fuel to neighbouring countries is still taking place?

is it removal of fuel subsidy that stops smuggling?

casualobserver:
I have been consistent. Check the dates some as far back as February

The title of this thread is exactly why I am against any form of fuel subsidy. We will eventually get back to where we were with inflated consumption numbers and where we end up subsidizing petrol for our neighbours. You cannot have petrol subsidies in a nation that has porous borders when your neighboring countries sell petrol at a rate 2x ours. If Niger, chad, Benin and Cameroun can pay N1200 for petrol then so can we, their citizens are poorer or just as poor as us and they are not rioting because petrol is N1200.

IbeOkehie:
I'm not going to fall into the trap of trying to convince you of things that have been written over and over on this thread. All you will do is keep bring out one question after another. My advice is to try researching these subjects on the internet.

When did Diamond Bank collapse? Now I know you're trolling. Enjoy your weekend.

Good Luck to Nigerians

IbeOkehie:
You've been told multiple times...VENEZUELA and LIBYA and others.

lexy2014:
you clearly said

where and when was I told multiple times and who told me those multiple times?

are you aware that asking questions is the foundation of research?

I have asked those questions on nairaland which is on the internet. that means I am "researching these subjects on the internet".

except you have no idea what you are saying, can you pls tell me when Diamond bank collapsed?

can you kindly show me where answers to these questions were "written over and over on this thread":

what is the border situation in venezuela and libya?

let me ask you if fuel subsidy is the reason for smuggling fuel out of nigeria to neighbouring countries, how is this fuel transported out of nigeria?

can you pls explain how subsidy is dangerous?

why is "All the debate about why smuggling stopped last year and now resumed, NNPC corruption and so on is a useless distraction" when you claim that Venezuela and Libya experience smuggling of fuel because of subsidy?

when did diamond bank collapse?

all these years, we have been told that the justification for fuel price increase is to discourage smuggling to neighbouring countries.

After all the price increases under the guise of removing subsidy, how come smuggling of fuel to neighbouring countries is still taking place?

is it removal of fuel subsidy that stops smuggling?

lexy2014:
that is not what I asked you. since you have checked the exchange rate, then you should have no issues answering the questions.

Is this the first time that the naira is being devalued?

If devaluation is the reason for fuel being smuggled to neighbouring countries, how come the government has always said the reason for smuggling is because the price is low and needs to be increased?

If devaluation is the problem, how does government deliberately devalue the naira knowing the consequences it will have in terms of smuggling?

zombieHUNTER:
There's nothing wrong in subsidizing for the people once the process is transparent and corrupt free ,

Make sure sincere Men are in customs and immigration, the borders will be secure.. not business as usual

l

IbeOkehie:
Nairaland is a discussion forum. Seek out reputable journals on business and economics. Read Businessday and Investing. Watch free relevant videos on YouTube. You will find basic answers to the questions that encompass everything.

Price controls on rent...this one is loading right now in Lagos


https://www.youtube.com/watch?v=Tc8XQGEoEpY?si=S16WSolI0J4FRXNv

How Sweden went from poor to rich and back to poor and then rich again.


https://www.youtube.com/watch?v=jq3vVbdgMuQ?si=hmlXAJsrGW0_-dek


The basic answers to these things is FREEDOM. Government is the opposite of freedom and thus government should be suppressed as much as possible and restricted to the core essentials of government...security, issuing currency and roads. Note that technology has advanced to the point now that government doesn't need to issue currency or manage money, so that should transitioned to private too...a la bitcoin.

For example, there should be no government schools or universities or factories or hotels or refineries. The should be no law on wages.

Leave people alone to do whatever they want as long as they don't trample on the rights of others. Trade is a basic freedom that should be encouraged, not suppressed.

I encourage you to read widely. You'll be glad you do because your mind will be at rest as you understand why things are the way they are. Some things can't be helped.

Good Luck to Nigerians

IbeOkehie:
You've been told multiple times...VENEZUELA and LIBYA and others.

Kukutenla:
Why didn't refineries close in the US when the govt was giving people free money to buy fuel

IbeOkehie:
EXACTLY, but human nature is such that every subsidy will bring CORRUPTION. That's is the case in EVERY COUNTRY in the world.

Exactly!!! You made the case for abolishing all subsidies. Because there are no sincere men or women anywhere!

Thanks.

Good Luck to Nigeria

lexy2014:
.
Off point..

Since you have read widely and your mind is at rest and you understand why things are the way they are, am surprised that you can't answer any of these simple questions.

you clearly said

1. where and when was I told multiple times and who told me those multiple times?

2. are you aware that asking questions is the foundation of research?

I have asked those questions on nairaland which is on the internet. that means I am "researching these subjects on the internet".

3. except you have no idea what you are saying, can you pls tell me when Diamond bank collapsed?

4. can you kindly show me where answers to these questions were "written over and over on this thread":

5. what is the border situation in venezuela and libya?

6. let me ask you if fuel subsidy is the reason for smuggling fuel out of nigeria to neighbouring countries, how is this fuel transported out of nigeria?

7. can you pls explain how subsidy is dangerous?

8. why is "All the debate about why smuggling stopped last year and now resumed, NNPC corruption and so on is a useless distraction" when you claim that Venezuela and Libya experience smuggling of fuel because of subsidy?

all these years, we have been told that the justification for fuel price increase is to discourage smuggling to neighbouring countries.

9. After all the price increases under the guise of removing subsidy, how come smuggling of fuel to neighbouring countries is still taking place?

10. is it removal of fuel subsidy that stops smuggling?