₦airaland Forum

This is the most SHAMELESS & BRAINLESS set of people that ever rule/govern this entity called Nigeria.

Mr NSA, there was also petrol smuggling during the Obasanjo, YarAdua and Jonathan administrations yet during the lifespan of those governments (despite their shortcomings) Nigeria's economy grew from less than $60bn in 1999 to over $570bn in 2014 (x9.5) allowing Nigerians have a better standard of living compared to the shambles currently on show. Anyone with a basic grasp of O Level Economics and common sense will deduce it is not smuggling that is causing today's naira volatility; it is ill-conceived and incoherent policies of the collection of clowns in what I refer to as gino - government in name only!

If you have been overwhelmed by the job, just tender your resignation an go home.

nairalanda1:
Because when a smuggler takes fuel at N920 and heads to NIger or cameroon, or benin, or even Central African republic, he can make a cool profit of at least N500 Per liter.

TELL ME, how won't he be able to bribe the customs man and STILL come home with a profit.

Whereas, if fuel was sold at market price, no one is going to do nothing like smuggling.

It is worse in some other countties. Venezuela sells fuel at N40 equivalent. Colombia its neighbour...fuel is over 30 times that amount. Guess how much smuggling goes on between both countries.

I can tell you've done a very non-Nigerian thing...you've researched the topic.

Kudos 👏 💐 🥳, factual comments like this make my day. Take a bow, nothing do you!!!

Good Luck to Nigerians.

nairalanda1:
All very true...but APC was voted in in 2015 to fix those problems.

When have the Nigerian government ever fixed problems?

The longer we continue with this experience called democracy, the worse the government perform.

chairman they even changed national pledge abi national anthem oo

franchasng:
Lol no longer Binance

From blaming Rice importation to Cryptocurrency to Abokifx website to Binance platform to some CBN staffs and now it's the turn to blame petrol smuggling, thank God them never blame we Obidients and Ipøb, ndi eriri eri, clowns in government


APC is a useless party filled with confused criminals.


During Buhari they blamed Nigerians using their ATM cards to buy things online so they told banks to block it. That one failed.

They blamed rice importation, so they closed the borders and said we must eat the rice we cultivate in Nigeria. That one no work.


They blamed our old currency and said they must redesign the currency to stop bandits and kidnappers causing dollar to go up. That one no work.

They went after Abokifx website. E no work.


They went after Binance platform, e no work.


Now it's petrol smugglers


Trial and error government of APC.


APC is an evil Muslim party sent from Hell fire to destroy Nigeria

All of una mind no go touch ground

Omooba77:
https://saharareporters.com/2024/09/10/nigerian-nsa-ribadu-blames-petroleum-smuggling-naira-instability-economic-woes

Not crytopcurency and binance again??

nairalanda1:
Because when a smuggler takes fuel at N920 and heads to NIger or cameroon, or benin, or even Central African republic, he can make a cool profit of at least N500 Per liter.

TELL ME, how won't he be able to bribe the customs man and STILL come home with a profit.

Whereas, if fuel was sold at market price, no one is going to do nothing like smuggling.

It is worse in some other countties. Venezuela sells fuel at N40 equivalent. Colombia its neighbour...fuel is over 30 times that amount. Guess how much smuggling goes on between both countries.

The problem with selling petrol at "market price" is that the ongoing rapid devaluation of the naira (which continues to increase the landing cost of fuel products) has pauperized most of the population and made petrol at "market price" unaffordable. Last year, when subsidies were removed on petrol and it was selling at just over N500, I was fully behind the move, while sermonizing to everyone that would listen about the fiscal gains the country was going to make from subsidy removal. When the naira continues to plunge, fueling further inflation as energy prices continue to skyrocket, you can't continue acting like everyone groaning under the weight of the government's incompetence are simply illiterates who don't understand economic fundamentals about "market price" and incentives for smuggling and product diversion.

The smugglers are not smuggling wraps of cocaine in their anus or ingesting them. The quantities of petrol being alleged to be smuggled amount to thousands of tankers taking it across borders daily. THOUSANDS OF TANKERS DAILY. This is absolutely impossible to do without the active connivance of many well connected, highly placed stakeholders, and demanding that the people in power do the jobs taxpayers expect them to do and plug the leaks (rather than useless, performative whining in the media about the problems we already know) seems a better long-term solution than simply continuing to accept skyrocketing energy costs at "market price".

Obi1kenobi:
The smugglers are not smuggling wraps of cocaine in their anus or ingesting them. The quantities of petrol being alleged to be smuggled amount to thousands of tankers taking it across borders daily. THOUSANDS OF TANKERS DAILY. This is absolutely impossible to do without the active connivance of many well connected, highly placed stakeholders, and demanding that the people in power do the jobs taxpayers expect them to do and plug the leaks (rather than useless, performative whining in the media about the problems we already know) seems a better long-term solution than simply continuing to accept skyrocketing energy costs at "market price".

Back in 2011 to 2012 when the Jonathan govt tried to remove subsidy, I attended all sorts of public events and argued a lot with people about this topic. Everyone I talked to about it was against the removal of subsidy. I got frustrated to the point I distilled my argument down to one sentence - "Nigerians will one day pay full price for their fuel".

That day is almost here. Tina is a beautiful girl and this is her day.

You don't know Tina? She the one that said "There Is No Alternative". Get it?

There will be no fight against corruption because it's IMPOSSIBLE to stop. If the Fed Govt likes she can station the entire Army, Customs and Air Force all along the border, the imperative of the Free Market will still overcome all the obstacles.

The ONLY SOLUTION is to get government out of the business of subsidizing and setting prices of petrol...and university education and rice and pilgrimages and forex and train service and everything else. Yes, Nigerians will suffer but that is how great nations are made. Or they can continue with the same system they've always had since 1914.

The ONLY solution is FREE MARKETS. Take it or leave it!!!!

Good Luck to Nigerians!

IbeOkehie:
Back in 2011 to 2012 when the Jonathan govt tried to remove subsidy, I attended all sorts of public events and argued a lot with people about this topic. Everyone I talked to about it was against the removal of subsidy. I got frustrated to the point I distilled my argument down to one sentence - "Nigerians will one day pay full price for their fuel".

That day is almost here. Tina is a beautiful girl and this is her day.

You don't know Tina? She the one that said "There Is No Alternative". Get it?

There will be no fight against corruption because it's IMPOSSIBLE to stop. If the Fed Govt likes she can station the entire Army, Customs and Air Force all along the border, the imperative of the Free Market will still overcome all the obstacles.

The ONLY SOLUTION is to get government out of the business of subsidizing and setting prices of petrol...and university education and rice and pilgrimages and forex and train service and everything else. Yes, Nigerians will suffer but that is how great nations are made. Or they can continue with the same system they've always had since 1914.

The ONLY solution is FREE MARKETS. Take it or leave it!!!!

Good Luck to Nigerians!

Nigeria over the course of the 4th Republic has trimmed its government footprint in the economy with many total or partial privatizations, and a lot of market deregulation and Nigeria is a more dystopian shithole than it has ever been. The history of the Nigerian economy is replete with countless examples of our complying with the deregulation and austerity proposals, and free market reform demands of our international creditors like the IMF, and suffering devastating economic pain with little gain. American-style free market economics is not the blueprint for progress for 3rd world hellholes like Nigeria. Energy subsidies boost economic activity and exist in most countries in the world. The same claims about petrol smuggling is what the oil sector has been battling with crude oil theft and it's lazy to simply let the government off the hook by blaming its staggering incompetence on malign, nefarious actors that are apparently unstoppable. Nigeria went from producing over 2 million barrels of oil per day as far back as the 90's to sometimes averaging 800k in the last administration. They also blamed their incompetence on shady actors (oil thieves in this case rather than smugglers).

It's honestly amazing to hear people advocating that Nigeria, an oil producing nation (and poverty capital of the world), should subject its citizens to the oil price in international free markets - especially given the vulnerability of our currency.

Obi1kenobi:
Nigeria over the course of the 4th Republic has trimmed its government footprint in the economy with many total or partial privatizations, and a lot of market deregulation and Nigeria is a more dystopian shithole than it has ever been. The history of the Nigerian economy is replete with countless examples of our complying with the deregulation and austerity proposals, and free market reform demands of our international creditors like the IMF, and suffering devastating economic pain with little gain. American-style free market economics is not the blueprint for progress for 3rd world hellholes like Nigeria. Energy subsidies boost economic activity and exist in most countries in the world. The same claims about petrol smuggling is what the oil sector has been battling with crude oil theft and it's lazy to simply let the government off the hook by blaming its staggering incompetence on malign, nefarious actors that are apparently unstoppable. Nigeria went from producing over 2 million barrels of oil per day as far back as the 90's to sometimes averaging 800k in the last administration. They also blamed their incompetence on shady actors (oil thieves in this case rather than smugglers).

It's honestly amazing to hear people advocating that Nigeria, an oil producing nation (and poverty capital of the world), should subject its citizens to the oil price in international free markets - especially given the vulnerability of our currency.

LOL!!! Let me not argue too much.

Venezuela has the LARGEST reserves of crude oil in the world. The government took over the entire crude oil industry in 2001 or so. It then pegged the price of petrol at around 10 cents.

Just go read up what has happened since then.

The USA is the biggest producer of crude oil in the world. The government there imposes a tax on petrol.

Anyway go check out Venezuela. Get informed.

Nigerians will pay full price for their fuel because Tina said so. That's all!!!

Good Luck to Nigeria

Always looking for someone to blame for incompetent

id4sho:
Breaking News !!!

President Bola Ahmed Tinubu GCFR announces new minister for petroleum resources
Prof. Unago Waka Taya

Read the name again.

What of Prof. Una Never See Anything?

So it's no longer binance that's causing the devaluation? Mumu people.

malali:
Nothing annoys me like when people who have been appointed to solve problems.

Just keep repeating what the problems are, Oga we all know the problems !!!

You were appointed to proffer viable solutions to solve the problems.

Dont tell us that dog bites....we all know the dog bites...we have appointed you as the dogcatcher and we are paying you a lot of money to catch the dog....Dont come to work everyday telling us how dangerous the dog bites !!

1-If a marketer is smuggling , revoke his license, all marketers should be licensed.
2-Get people to go undercover and find out who is really smuggling if not marketers.
3-If you cannot solve the problems associated with smuggling and Nigerians are in so much hardship with the fuel price and the dollar rates skyrocketing.

Then resign and let people that can do be appointed.

With the above you listed, the problem of snuggling will be eradicated but they won't do it because most of them are benefiting from it

IbeOkehie:
LOL!!! Let me not argue too much.

Venezuela has the LARGEST reserves of crude oil in the world. The government took over the entire crude oil industry in 2001 or so. It then pegged the price of petrol at around 10 cents.

Just go read up what has happened since then.

The USA is the biggest producer of crude oil in the world. The government there imposes a tax on petrol.

Anyway go check out Venezuela. Get informed.

Nigerians will pay full price for their fuel because Tina said so. That's all!!!

Good Luck to Nigeria

Why are you particular about Venezuela? Why not Algeria? Or even war-ravaged Libya. Or the Gulf States. Or Iran. Why must your benchmark be the worst of the worst?

And who is asking Nigeria's government to take over the entire crude industry (or any industry for that matter)? That's a strawman. Nobody is asking Nigeria to become a socialist state like Venezuela where all industries are government-owned. I believe the NNPC should be unbundled and managed by the private sector, with the government as key stakeholders - much like was done with NLNG. It's not too much to ask that the government should be able to account for what marketers it is paying its subsidy to (the incompetent morons in the NNPC for donkey years could barely even tell you how many liters of refined crude products they were paying subsidies on - something that should be elementary accounting), and what holdings those marketers have in Nigeria, and the data should be able to form the basis to gather intelligence about those who could be smuggling subsidized products across borders. These things aren't rocket science. The will to do the job isn't there because those tasked with plugging these leaks are the same people profiting from it. The truth is while a lot of subsidized products move across the border, much of what the NNPC claims to be paying subsidy on is fictitious (by inflating the volume of product subsidized) and the criminals at the top simply pocket these fictitious subsidies and claim the fuel is being smuggled out:
https://budgit.org/subsidy-removal-and-nigerias-daily-petroleum-consumption/

Again, stop comparing us to the US. Nigeria cannot be run like the US. The US is an exception to the rule - not the rule. Most countries have energy subsidies cos they recognize its impact on the local economy and welfare of its citizens.

Only weak people, failures never do well, will always complain and blame other people and circumstances for their constant failures.
APC is a perfect example of a failed political party

Togo and benin republic sells in dollar?

Father254:
Dur to the collapse of Naira selling to foreign countries gives them double profit as they buy in Naira and sell in dollar.

Love800:
Togo and benin republic sells in dollar?

They buy from Nigeria marketers in dollar and sell in their local currency.

Tankz so much.

Father254:
They buy from Nigeria marketers in dollar and sell in their local currency.

stagger:
Army guys have always proven to be the best choices for such organizations.

^^^
No.