₦airaland Forum

nairalanda1:
TInubu now calls it 'shortfall' . Essentially NNPC Is forced to use some of its profit to pay for subsides and government reimburses them,...lol.

We are automatically running round a circle I guess.

phorget:
We are automatically running round a circle I guess.

Governments have always been scared to remove subsidy totally because it means zero votes next election. That is why buhari and tinubu are doing partial removal all the time...because if they did full removal, they would be kicked out of power.

Nigerian politicans can sacrifice the economy to Molech if need be, to save their political futures.

nairalanda1:
Governments have always been scared to remove subsidy totally because it means zero votes next election. That is why buhari and tinubu are doing partial removal all the time...because if they did full removal, they would be kicked out of power.

Nigerian politicans can sacrifice the economy to Molech if need be, to save their political futures.

"Subsidy is gone" sounds more like a total removal of subsidy, Tilumbu should come clean to tell us if its partial removal then.
I see no sincerity in the government of the day, a government that would rather remove subsidy and start dishing out palliatives bought with the same acclaimed subsidy saves, same palliative that won't ever get to the targeted individuals.
Petroleum subsidy payment is still the more centralized subsidy any government can give the citizens, everyone benefits unlike monetary or food palliative that they are sharing about.

nairalanda1:
There are always problems when things are sold below what it costs to produce them

Also, was the telephony system sanitized before GSM was brought in?

The issue is not the selling price, it is removing the obstacles that contribute to the selling price.

GSM worked because at the time it came in, it was a luxury item. It was not necessary to have so the price of SIM cards had no ripple effects on prices of other critical goods and services. Besides, at the time of its introduction, SIM cards were overpriced in Nigeria.

Is PMS a luxury good?

You still haven't answered why every time you advocate for a price increase, when it gets above the price you stated is OK, it suddenly needs to be increased again? What does that tell you?

PBAT is taking Nigerians for a ride; he hides in the confines of Aso Rock, oblivious to the sufferings of majority of Nigerians but he would do well to remember the popular Nigerian proverb which says “one day monkey go go market, e no go come back”.

What I believe PBAT is doing is to pay a certain percentage (60%)of subsidy and using the remaining(40%) for other things.

The fact is there, subsidy payment has returned.

ivandragon:
The issue is not the selling price, it is removing the obstacles that contribute to the selling price.

GSM worked because at the time it came in, it was a luxury item. It was not necessary to have so the price of SIM cards had no ripple effects on prices of other critical goods and services. Besides, at the time of its introduction, SIM cards were overpriced in Nigeria.

Is PMS a luxury good?

You still haven't answered why every time you advocate for a price increase, when it gets above the price you stated is OK, it suddenly needs to be increased again? What does that tell you?

Is selling at a loss conducive for good business....?

Also, should goods be sold at a loss simply because they are not luxuries?

phorget:
"Subsidy is gone" sounds more like a total removal of subsidy, Tilumbu should come clean to tell us if its partial removal then.
I see no sincerity in the government of the day, a government that would rather remove subsidy and start dishing out palliatives bought with the same acclaimed subsidy saves, same palliative that won't ever get to the targeted individuals.
Petroleum subsidy payment is still the more centralized subsidy any government can give the citizens, everyone benefits unlike monetary or food palliative that they are sharing about.

Governments do lie after all.

Tallesty1:
The builder of Lagos is now completely clueless, visionless and without direction.

which Lagos did he build ?
What and what were built in Lagos.
Let us not forget that Lagos was the seat FGN .

sulaak:
Nigeria was never mighty, generating less than 5000MW for 220 million people. The country has always been an illusion. As individuals, we can be great, but Nigeria has been hopeless as a nation. Mighty countries are known for producing stuff; Nigeria cannot even feed its people.

You're spot on

nairalanda1:
The fact of the matter is, we got here because we had the wrong idea about fuel ....we thought we could make it cheap to 'help the poor'

It's helped the poor....at the expense of our domestic refining capacity.

Like I say, if you want working refineries and an end to scarcity, let the refineries and the marketers sell fuel at a profit....so that there would be enough money to plow back into the refining capacity.

Abusing me and calling me names does not change that fact. We have tried subsidy for over 4 decades. It's not working.

And fixing the refineries is not going to solve the problem. The best the refineries can do is produce fuel at a cost above N1000 per liter. Subsides would force them to operate at a loss.

But most of us think that cheap fuel costs nothing.

Go and rest and stop talking rubbish ...

Wot happened to all funds looted from NNPC over 500 billion dollars ...

Corruption brought here

nairalanda1:
The fact of the matter is, we got here because we had the wrong idea about fuel ....we thought we could make it cheap to 'help the poor'

It's helped the poor....at the expense of our domestic refining capacity.

Like I say, if you want working refineries and an end to scarcity, let the refineries and the marketers sell fuel at a profit....so that there would be enough money to plow back into the refining capacity.

Abusing me and calling me names does not change that fact. We have tried subsidy for over 4 decades. It's not working.

And fixing the refineries is not going to solve the problem. The best the refineries can do is produce fuel at a cost above N1000 per liter. Subsides would force them to operate at a loss.

But most of us think that cheap fuel costs nothing.

When there was subsidy, fuel sold for 250naira in 2023.
One year after, there’s still subsidy, even though it sells for 950naira.
There’s no other excuse here.
It’s just bad policies from an incompetent government.

nairalanda1:
The fact of the matter is, we got here because we had the wrong idea about fuel ....we thought we could make it cheap to 'help the poor'

It's helped the poor....at the expense of our domestic refining capacity.

Like I say, if you want working refineries and an end to scarcity, let the refineries and the marketers sell fuel at a profit....so that there would be enough money to plow back into the refining capacity.

Abusing me and calling me names does not change that fact. We have tried subsidy for over 4 decades. It's not working.

And fixing the refineries is not going to solve the problem. The best the refineries can do is produce fuel at a cost above N1000 per liter. Subsides would force them to operate at a loss.

But most of us think that cheap fuel costs nothing.

Refining and subsidy have no link. Someone is refining the one we are currently buying and subsidising unhindered somewhere so stop saying subsidy was maintained at the expense of local refinery. It is a case of refinery refining and selling at intl price to whoever wishes to subsidize the crude products.
Let me ask you, now that the refineries(govt ones) are dormant, aren't we paying workers salaries and spending more trying to fix them? That tells any honest person that the problem is the people there and not the subsidy itself. Govt can decide to sell petrol at N100 if it is locally refined and crude locally sourced. It will only lead to shortfall in crude sales revenue. They are already paying salaries of the idle refiners and spending more than Dangote to fix refineries not as big as his.

The lies about intl mafia being part of the conspiracy to keep local refineries down holds no water because Dangote built a bigger and far more complex one from scratch.
Same corruption that is killing refining and crude industry is same one ravaging every other sector of the economy.

Subsidies and price regulation are a major CAUSE of generalized corruption in EVERY COUNTRY where they're practiced.

Subsidies and price regulations DESTROY PRODUCTIVITY wherever they're practiced.

Government owned companies - especially federal or central government owned - are ALWAYS inefficient and unproductive and a financial drain on nations. There's plenty of EVIDENCE of this all around the world, even in developed countries. There's LOTS of evidence of this in Nigeria. 🙄

Nigeria is still paying fuel subsidy today as it has done for over 50 years.

Nigeria is still subsidizing forex as it has ALWAYS done. Forex subsidy has always been the MAJOR cause of economic destruction in Nigeria.

The major benefits of subsidy go to the rich.

The worst hit victims of economic distress in every country are the poor.

The major beneficiaries of free markets are the poor.

Good Luck to Nigeria.

But this current "strategist" has worsened the situation. If Buhari was bad, this Tinubu is a slowpoke. Taking out subsidy loukdy ans returning it surreptitously devaluing the currency and cluekess about what to do next, spending scarce resources of frivolities. He is the worst

sulaak:
Buhari is part of the problem. His excessive borrowing and ways and men meant that the country had no funds to continue borrowing to fund fuel subsidies. Buhari left Nigeria with a total public debt of $110 billion on an income of less than $36 billion. Under Buhari and Mele Kyari, Nigeria's oil production fell under 1 million daily.

Tinubu and Buari are both hopeless and incompetent.


https://nigerianstat.gov.ng/elibrary/read/1241381

lies lies lies ......

TUNUBU why did you betray Nigeria people