₦airaland Forum

IbeOkehie:
Internet is available....apparently the little I tried to direct you is "off point".

With all the resources on the internet, you should be able to research and come up with answers. Come on man, just type FUEL SMUGGLING VENEZUELA into Google. It's that easy, you don't need me....or you can look at my comment record, or that of @Nairalanda.

Good Luck to Nigerians

lexy2014:
I don't remember asking for your direction.

This is what I asked you.


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?

IbeOkehie:
Okay, suit yourself. By the way are you still asking about Diamond Bank? Hmmmm.

Please I'm done. I wish you all the best in finding the answers you seek. Please disregard me, I don't have the requisite knowledge for you. Have a good weekend.

Good Luck to Nigeria

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. Abolish all subsidies, 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.

IbeOkehie:
In this same USA I'm living in? When did that happen because I missed it.

Is it still happening in the USA now? 😳 Surely not. Nigeria has been paying fuel subsidy since 1973 and is still paying today.

If it ever did happen, there was no PRICE CONTROL, that's the major thing in subsidies. If there's no price control the government will run out of money quickly.

Good Luck to Nigeria

Kukutenla:
Tell us about food stamps in the US. When did it start and when is it stopping?
What about agric subsidies that keep food cheap for you?

A former social services worker in North Carolina accused of diverting federal benefits from ineligible applicants to herself was sentenced to prison on Friday. Lakisha Victoria McDougald, 32, was ordered to spend two and a half years in federal prison and pay $233,913 in restitution after she pleaded guilty to stealing government funds earlier this year, the U.S. Attorney’s Office for the Eastern District of North Carolina said in a news release.

BROWSNVILLE, Texas — Two women sentenced Wednesday following their convictions of conspiracy and committing $1.2 million in food stamp fraud following a U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigation (HSI) investigation worked jointly with the U.S. Department of Agriculture – Office of Inspector General (USDA OIG)

Ana Rioja, 51, of Brownsville and Maria Consuelo de Ureno, 55, a legal permanent resident living in Brownsville were sentenced March 9 by U.S. District Judge Rolando Olvera Jr. Judge Olvera sentenced Rioja to 30 months in federal prison to be followed by one year of supervised release; while Ureno was sentenced to 37 months in federal prison to be followed by a term of three years of supervised release. Ureno could face the loss of her legal status in the United States. Upon completing her prison sentence, she will be placed in removal proceedings.

In handing down the prison terms, Judge Olvera ordered Rioja and Ureno to pay $975,401 and $1,284,282.15 in restitution, respectively. Both pleaded guilty May 12, 2021, to conspiring to commit and committing Supplemental Nutrition Assistance Program (SNAP) fraud.

According to court documents, beginning in February 2016, the investigation revealed Ureno, Rioja and other co-conspirators exchanged SNAP benefits for cash by using a point-of-sale device at a local meat market Rioja owned. Additionally, authorities discovered Ureno and co-conspirators conducted fraudulent transactions at Sam’s Wholesale Club. The investigation discovered 715 fraudulent transactions that were linked to 83 unique SNAP benefit recipients which conspirators redeemed for cash or food. Ureno’s fraudulent purchases totaled to approximately 49.1 tons of American cheese slices, 22.3 tons of pinto beans, 1.6 tons of Folgers coffee, 1.4 tons of instant mashed potatoes and over 5,000 gallons of mayonnaise which she would sell to a partner and transport to Mexico. Between September 2014 and August 2019, both Rioja and Ureno conducted approximately $1.2 million in fraudulent transactions.

nairalanda1:
Ah, and I daresay you are happily married to twenty two wives, and fifteen concubines.

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

nairalanda1:
Yes, because most people on this site tend to think that removing subsidy makes one an oppressor. They don't see the long term benefits.

I was convinced of subsidy removal under GEJ. Note that I regard the main political parties with the same level of suspicion, yet when good points are made by the government sometimes, I listen, and in 2012, I listened, and my eyes were opened.

underpinna:
I might be wrong and stand to be corrected. Covid was a major boost to Biden's victory and infact, the epidemic died after he was declared the winner. Better leaders killed their citizens to regain power right?
French president was accused of selling military wares to Russia while other world leaders condemned the Russian attact. Even they, the French government condemned the invading of sovereign nation but yeah, business transactions must take place. Better leaders right?

People sees opportunity in scarcity and are making use of it, and that's being smart.

And even you, if you find yourself in the corridors of power, might likely do the same.

Spandau:
Oga, iyen o je wa. You're seunmsg. Alternate account l'omo lati le.😜😜😜😜😜😜. Pretend all you want.

cokeryusuf09:
You don't remove subsidy with cushion the effect, all u have said is not go to happen even if they remove it cos no social welfare

nairalanda1:


It is simple.

1. Fuel costs below N1000 here

2. Fuel costs above N1000 over there. Even in NIger, with the recent reduction, fuel costs N1400 per liter

3. Naturally, smuggling would result. And let's be honest, it is not only big people doing it, even the small ordinary Nigerian would carry a 50 liter jerrycan of fuel across the border, and sell it, and come back with a big enough profit to bribe customs, and still have enough left over.

4. We don't have fuel, because government is struggling to pay the subsidy on fuel. Right now we owe fuel exporters lots of money, we are struggling to even pay the NNPC shortfall, and NNPC is now raiding the dividends to pay off its own shortfall.

5. And yet, Nigerians keep asking for cheap fuel

It is our desire to have N40 fuel that is causing this, people. And it is high time we woke up and realized fuel cannot be cheap, and totally removed subsidy.

Yet, anyone suggesting this now is apparently agbado, even if they have never voted for tinubu or never liked the man (I have not liked tinubu since 2005, when Gani first raised the questions about his certificate then)....

But it is obvious subsidy, even at tinubu level is not sustainable.

The only way to stop smuggling is to TOTALLY REMOVE SUBSIDES. Yes, fuel would cost N1500 per liter, and yes, Agbado people brought hardship to NIgeria, and yes NIgeria needs to divide, and bla bla bla

But you cannot sell at a loss and not expect issues.

And if you think NIgeria is the only country with this issue....

1. LIbya has a severe smuggling problem, to the point that smuggliers are being bombed by the LIbyan air force

2. Saudi has a smuggling problem with Yemen, which they are finding hard to fight

3. Iran has issues on the border with Pakistan. Iranian fuel is being smuggled into Pakistan well well. Subaisy

4. Venezuela has a massive smuggling problem. Same thing happening here. They lost 18 bn dollars to smuggling one year.


See the benefits of subsidy


Yet somehow, we want something that costs over N1000 to make to be sold at N200 or less because 'poverty'

We better wake up folks.

HenryWilliams:
They will always find excuses for the corrupt govt.
Long winded Epistles to fool the gullible.
I don't blame you..
You are automated..
Robot with no working brain cell.
Programmed to dish out narratives exonerating your programmers..

IbeOkehie:
I'm still wondering the reason behind making this claim

First of all the USA government doesn't own a single refinery. Most refineries in Nigeria are non-productive because they're owned by government and thus inefficient.

Every gallon of petrol in the USA has an 18 cent federal tax attached, in addition to a state tax. In some states over 30% of the price is TAXES. The most that will be done in the USA is a TAX REDUCTION. It's important to really understand - instead of SUBSIDIZING petrol, the USA and most West European/EU countries actually impose a TAX to make it more expensive for their people.

Na wa for Nigerians and argument.

Good Luck to Nigeria.

Kukutenla:
Good day.

I'm surprised you're claiming that people were not given cash to buy fuel in some states in the US. Well, here are links and screenshots below showing such occurred in Alaska, Illinois and California and 19 other states.

https://www.al.com/news/2022/08/stimulus-update-these-states-cities-are-offering-up-to-1050-due-to-high-gas-prices.html

https://www.forbes.com/advisor/personal-finance/states-gas-stimulus-checks/

This is something that happened in 2021-2022. It is also funny you're condemning price controls when the US under Nixon carried out price controls in the 70s during the Arab oil embargo or have you never heard of it?

I saw all you wrote about food stamps. So when is the US going to stop the program that has existed since the 1930s?

Since you're in the US, when are you going to start an advocacy to stop food stamps? What about the agric subsidies that keeps food cheap for you? When are you going to ask the govt to stop them so you can pay in full for every potato you buy?

Food stamp is not a democrat thing. It has existed over different govts and none have ever muted scraping it. All those links of fraud you posted, you haven't shown me where the govt's response to the fraud is to cancel the food stamp program altogether.

Instead, they fight the fraud, catch the fraudsters and ensure they are punished. That's what the govt of the country you went to for a better life does for its citizens.

Another example is immigration in the US. Millions of illegal immigrants have taken advantage of the US's land borders and immigration systems to enter the US. It's now a disaster.

What do you suggest the US govt should do?

Should all immigrants be deported back to their home countries regardless of whether they entered legally or not?

Or should the US spend billions of dollars of taxpayers money to enhance border security and the immigration system?

Money that could have been put to better use?

California, home to some of the nation’s highest gas prices, has suspended the state sales tax on diesel fuel. The state is also providing general “inflation relief” checks of $1,050 per family. Eligible recipients will start receiving payments in October with all rebates issued by January 2023.

DeOTR:
This is nothing about creating opportunities. It's about creating a problem for gain.
You can only talk about people who haven't had the opportunity before. I've been in positions where I can use my influence for financial gains. I chose the right thing by doing what is right.
I've studied most Nigerians. We tend to misuse our privileges, no matter how little.
Even pump attendants also feel like gods there's scarcity of fuel and use that little opportunity to make money from people.
You're on point.......
This same people complain about government. Please tell me what these lots would do differently if given bigger opportunities?

IbeOkehie:
OK good, I asked where it came from and you provided evidence. I like that a lot. Notable points...

(1) As I suspected, it used TAX SUSPENSION in some cases, like the biggest state which is California



No cash specifically for petrol there AND even if there was

(2) It was TEMPORARY. A one-time deal, not even a year. By your own count, less than HALF the states. Certainly no FEDERAL cash given.

Also noteworthy, is

(3) There were no price controls. No government mandated price for petrol.

Nixon era price controls were disastrous and the USA learned to NEVER use them again. In fact the current Democrat nominee for President has been widely condemned by even liberal newspapers like the NY Times and Washington Post for making such proposals in her campaign platform.

As of today that we're discussing this, everyone in the USA pays for their petrol and pays a big tax for the privilege.

You have a good episodic selectivity for USA economic history. Thankfully, all you cited were exceptions, not the rule. The USA is a generally free market economy because most economic land, labor and capital is privately owned. As for the rest, the major thing I'll comment on is the crime, fraud and abuse. It's better for governments NOT to create situations that may lead to fraud.

No policy is completely correct or completely wrong but it depends on what the objective is. A country that aims to be as prosperous as the USA or Sweden with the attendant high HDI needs to adopt FREE MARKETS first and then think about socialist welfarism much later.

If you want to become the Poverty Capital of the World like Nigeria, you do what Nigeria is doing and subsidize everything you can, including PILGRIMAGES to Rome and Mecca.

Everything that is wrong in the USA results from the little amount of socialist welfare and diversity that has been allowed in the system. Even the Covid cash payments are now acknowledged to have caused great price inflation from 2% in Jan 2021 to 9.1% in 2023/24. We all are still feeling the pain here.

The only things working well in Nigeria are those industries that were subjected to SAP...banking, telecoms, cement. The opposite of USA.

Nigeria has had over 50 years of fuel subsidy and the results are clear. It must stop.

Thanks 😊

Good Luck to Nigeria.

Kukutenla:
One main problem I have with folks like you and nairalanda1 is your blatant dishonesty in defence of your "free market" concepts. You asked for evidence, I gave you and instead of you to swallow the reality, you resort to lies.

Point out anywhere you saw "tax suspension" whatever that means in any of the links and screenshots. The next thing you're doing is making exceptional cases for why subsidies were introduced.

You claim price controls have not been used since Nixon but in another breath you say Harris is proposing it. I hope you're aware that Biden policy document to fight inflation in 2022 also had elements of price control which they termed "Anti-price gouging".

I'm sure if that was implemented, you'll find another excuse for it.
Mind you, before this blatant subsidies in 2022, US traditionally subsidises its oil and gas industry to the tune of billions of dollars just to keep oil price low.

As for your free market, When Trump makes a deal with Saudi to pump extra oil to drive down crude prices, is that still free market? Or when Biden gives US oil producers extra tax holidays to extract oil on new land, I'm sure that's part of free market principles to you.

But when Nigeria takes crude to its refinery and produces it at lower price, it becomes evil and anti- market and Nigeria is a backward country that is not ready to become prosperous.

In 2022, a policy think tank in the US linked the 40- year Historically high inflation to high energy cost. They submitted that lowering energy cost will lower inflation. This was embraced by US govt which led to those steps I shared with you. In Nigeria, folks like you are telling us high energy cost will lead to prosperity.

Mind you, since 1999, Nigeria has attempted to remove fuel subsidy at least five times and each time it failed. Two former military men and two civilians attempted and failed! In the same US where you are, energy cost to income ratio is far lower than any other country in the world bar China.

By calculations, US monthly wage can afford 1,216litres of petrol compared to Nigeria where the 70k minimum wage can only afford 117litres!

As for my question to you regarding food stamps, agric subsidies and immigration, I think we both know why you sidestepped them. It only goes to show that no one wants his comfort to be threatened no matter how sophisticated we sound.

And I don't know why you keep repeating the lie about SAP after I showed you previously that even IBB agreed that SAP failed. SAP was dead and gone when telecoms, cement and banking were liberalised in Nigeria. But of course you must claim their moderate success for yourself to push your agenda.

Kukutenla:
One main problem I have with folks like you and nairalanda1 is your blatant dishonesty in defence of your "free market" concepts. You asked for evidence, I gave you and instead of you to swallow the reality, you resort to lies.

Point out anywhere you saw "tax suspension" whatever that means in any of the links and screenshots. The next thing you're doing is making exceptional cases for why subsidies were introduced.

California, home to some of the nation’s highest gas prices, has suspended the state sales tax on diesel fuel.

California

California, home to some of the nation’s highest gas prices, has suspended the state sales tax on diesel fuel. The state is also providing general “inflation relief” checks of $1,050 per family. Eligible recipients will start receiving payments in October with all rebates issued by January 2023.

Gov. Gavin Newsom failed, however, in a plan to distribute $400 debit cards, up to two cars per family, to cover the high cost of gas.

IbeOkehie:
The fuel cash in the USA was distributed in LESS THAN HALF of the 50 states. Certainly not in my state.

There was no FEDERAL cash payout specific to fuel.

The programs that were done by States were TEMPORARY and are NO LONGER IN EXISTENCE now.

There were NO PRICE CONTROLS associated with any of the programs. Kamala Harris has PROPOSED price controls....PROPOSED. That proposal is now part of the democratic process in the USA. Let's see if Americans are as foolish as Nigerians were back in 2015 to elect a socialist President like Buhari. You can always come back and tell me times have changed!

I pointed out all above and you're claiming I'm lying? How? Is there any state paying petrol subsidy today in the USA?

Let me even add....do you notice a lot of the subsidy programs you ACCUSE the USA of using actually are TARGETED to the poorer people in society? How are such SUBSIDY programs targeted in Nigeria? In fact subsidy programs in Nigeria like the ones for Federal University tuition end up in the hands of RICHER families. That's why most mechanical engineering and medical students in 1st Generation Federal Universities come from rich homes.

Nobody said "high energy costs will lead to prosperity"

What we are saying is "free markets in energy will lead to prosperity" OR "continued petrol subsidies translates to continual scarcity".

The USA and Nigeria are REAL LIFE examples that illustrate that we're right and you're wrong. There's scarcity in Nigeria and surplus in the USA

I still remember our argument where you claimed real estate in Nigeria is super profitable. The way you CLAIM real estate is appreciating for you all in Nigeria, you shouldn't be concerned about high prices for petrol. You can pay with your massive real estate profits.

https://www.nairaland.com/8069891/nigerian-couple-buys-house-2/13#129669957

I continually asked you all to comment on this story -

https://guardian.ng/foreign-real-estate-investors-record-huge-losses-amid-rise-in-exchange-rate/

And you didn't take it up. Why? You seem intent on spinning lies without any opposition. Sorry, not while I can refute it. You don't need to be so defensive about Nigeria, it's a shithole and it's going to remain so for generations to come.

Good Luck to Nigerians.

IbeOkehie:
Just so it doesn't get lost in the weeds, here's a quote from your own link,

https://www.al.com/news/2022/08/stimulus-update-these-states-cities-are-offering-up-to-1050-due-to-high-gas-prices.html

I actually extracted it earlier, here it is AGAIN



Here is the entire paragraph under the heading CALIFORNIA



The same California, the most socialist state in the USA and also the biggest by population and possibly GDP, failed in their attempt to distribute cash specifically for petrol. The ONLY thing they did was a TAX SUSPENSION.

So you didn't even read your own source.

I say it again, Nigerians na wa !

Good Luck to Nigeria.

Kukutenla:
Keep fishing for excuses. So because not all states paid out cash and the federal govt did not pay cash makes that of the US good right? What about the existing Federal oil subsidies in the US with a total cost of $20bn every year?
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.reuters.com/business/environment/global-fossil-fuel-subsidies-rise-despite-calls-phase-out-2023-11-23/&ved=2ahUKEwj1rLumgJGIAxUkbEEAHd-LMlYQFnoECBwQAQ&usg=AOvVaw074SUdypJToH_oojgaJQoU
I'm waiting for the excuse you'll give for this one now.
No state is paying cash for fuel today in the US because the price is now stable. The fact that it happened shows anyone with common sense that the US system is protectionist.
If free market leads to prosperity, why has US been intervening in oil price since the 70s in one way or the other? Why the craze for oil bonanza? The US has subsidy. The reason they don't have scarcity is because they have refining capacity and steady crude supply. Both have nothing to do with subsidy. The US did not have subsidy in the 70s when the Arab oil embargo led to scarcity in the US.
Can you explain the relationship between real estate and fuel price? If you want to discuss real estate you're welcome but don't conflate issues abeg.
Folks like you ran away from Nigeria to enjoy the free things US offers its citizens but you turn round to pontificate for us on how free things are bad. You left 70k monthly minimum wage which is equivalent to $35 to go clean floors for $1270 per month minimum wage. You're pontificating that the guy earning $35 per month should pay $0.91 for fuel, same price that he who earns $1270 pays. Is that how the US works? Is that your idea of free market?

Kukutenla:
Point out anywhere you saw "tax suspension" whatever that means in any of the links and screenshots. The next thing you're doing is making exceptional cases for why subsidies were introduced.

Kukutenla:
You see, introducing another lie. You read a link that mentioned four states and you picked only one to twist the narrative there to suit your propaganda. You ignored every point written about how California is paying $1050 and focused on a line that talked about failure to pay $400. You see how fraudulent your claims are? What is laughable is that it's not as if the $400 was not paid.

IbeOkehie:
You want to use exceptions to characterize the entire USA as a subsidized economy. That's interesting. You seem to be making the claim that the USA is only successful BECAUSE it has subsidies? Maybe it's better to break it down to basics.

Classical economics teaches that there are THREE factors of production - LAND, LABOUR & CAPITAL. In a free market all three should trade freely with minimal hinderance. There should be no regulated pricing or government ownership.

LAND - there's no private ownership of land in Nigeria, while USA has private ownership of land.

CAPITAL - Nigeria fixes the price of currency, the USA does not.

LABOUR - both countries regulate labour prices, but in the USA different states can set different minimum rates, so there's some flexibility.

Everyone can judge which country has what kind of market and which has been more successful.

Malaysia and Indonesia are doing better than Nigeria overall. Palm oil is indigenous to Nigeria yet Malaysia and Indonesia produce far more than Nigeria now.

India used to be the Poverty Capital of the World until it reformed in 1998, grew richer and handed the title to Nigeria in 2018.

China in the 1950's had mass poverty and starvation and was only saved by reforms done in 1978.

If Nigeria can't or won't copy the USA and Sweden, Norway or Denmark or Switzerland how about those other countries? Maybe there's some other model people like you have in mind. Perhaps a homegrown economic system like Tanzania tried under Julius Nyerere?

https://www.juliusnyerere.org/resources/view/the_nyerere_legacy_and_economic_policy_making_in_tanzania

Because whatever Nigeria has been doing since 2015 or maybe 1999 surely isn't working and it's time to change course. A generation in demographic terms is 25 years, meaning Nigeria has lived a full generation under democracy and a significant portion of the populace is still engaged in mass migration.

If you folks don't like free markets, please elect a government that will try SOMETHING that works, anything.

There's no dignity in being the Poverty Capital of the World.

Good Luck to Nigeria.

IbeOkehie:
Goodness!!!!

You demanded earlier:



I point out somewhere in the linked article where SUSPENSION OF TAXES is explicitly mentioned as the mode of help for people to buy fuel and your response is:



You said ANYWHERE in the article. Even BEFORE reading the article I knew it was likely going to be mainly tax recissions.

Dear Sir it's OK. Enjoy your petrol subsidy in Nigeria while I pay for my high taxed gasoline in USA.

Good Luck to Nigerians.

Kukutenla:
Point out where TAX SUSPENSION was mentioned in the articles.

I'm still waiting for you

You don't need to tell lies if your plans can work. Like I told you and you haven't denied. The cheap food you eat in the US is heavily subsidised. You have food stamps in case you can't afford that cheap food. The oil you use to heat your homes and power your vehicles is also subsidised.

If US was running a fully free, capitalist economy where anyone can do as they like, You sir will not be in the US. The US economy is deliberately conditioned to be productive by keeping cost of living and cost of production low. That is what Nigeria and other developing nations should be working towards.

If you can't bring up ideas to achieve that but just touting some free market concepts that has never worked anywhere, you are simply being dishonest. Nigeria under IBB's SAP killed its textile industry, refineries and a host of other critical manufacturing sectors. OBJ did not come in and start removing subsidies, cutting jobs and increasing tarriffs while devaluing the currency and raising taxes. Heck, he did not do SAP by encouraging more imports. He did the opposite. He increased minimum wage by over 500%, paid subsidies, employed more people and banned more importation.

The cement country we have today is because cement importation was banned which is anti-SAP

The poultry industry we have today is becasue poultry importation was banned also anti-SAP

The telecoms we had today is basically indigenous, if not to Nigeria at least to Africa and it was deliberately made so by Obasanjo. States were allowed to buy shares of incoming telcos. That is anti-SAP

SAP is what did not allow Ajaokuta to see the light of the day

IBB had to accept the failure of SAP

Stop glamorizing SAP with lies

IbeOkehie:
Everything that is wrong in the USA results from the little amount of socialist welfare and diversity that has been allowed in the system. Even the Covid cash payments are now acknowledged to have caused great price inflation from 2% in Jan 2021 to 9.1% in 2023/24. We all are still feeling the pain here.

IbeOkehie:
It's obvious you're not well informed 😒

I'll only reiterate what I think I told you earlier....



Yes, the high level of public debt, family
dysfunction and reckless immigration policy all result from the socialist policies that have been allowed to take root here. Policies like food stamps and corporate bailouts and imposition of EV mandates. They're wrong and not good for society.

The USA became rich by pure free market capitalism and that is how it's able to remain prosperous DESPITE the disastrous socialist policies that are imposed to get the votes of ignorant people.

Please let residents of Nigeria enjoy their very subsidized petrol and let me continue endless suffering as I pay high taxes for the privilege of buying the same product in USA.

Goodbye.

Good Luck to Nigerians.