₦airaland Forum

nairalanda1:
Peter Obi was the best candidate, no be lie, but let's be honest, under Obi, we would have had the same result.

By May 2023, the results of decades of borrowing to pay for subsides since the late 1970's was in, and we had a lot of debt from maintaining subsides, which, among other things, was contributing to debt eating 99% of our government revenue.

At the end, and please let's put politics aside, APC, PDP, LP and company, Igbo and Yoruba aside......how are you going to pay for subsides with debt servicing eating 90% of our revenue? Is it by miracle, or by more loans while we wait for the results of good policies.?

Whoever took over, we were in dire straits. Either subsides were removed, or we got into taking more loans...to the point where debt would be eating something like 150% of our revenue. Then we go see shege...real shege.

The annoying thing about this APC government is that they are still doing the same old looting, and same old sharing money, but vote in Obi, and nothing could be done....and even if he raised prices to N400 , it would just be what Buhari was doing all this time ....which worsened the debt situation in the first place...among other causes.

I effing hate to sound like I am defending this government, and lord knows I don't like being called an APC supporter, when I have not voted for either big parties since I started voting., and when I have been suspicious of tinubu since 2005 (when Gani raised questions about his certificate back then)....but in 2023, may... this is what was happening.

debt service was eating 90% of our revenue
Subsidy funding was going to run out by June ending...no matter what tinubu did...and the only way to get subsidy back was by either taking more loans, or removing it to get more extra money, and then using some of that to fund subsidy.

And even now the subsidy that tinubu brught back is causing us more issues...debt has risen again.


What magic would you perform to keep fuel below N200 Per liter, without taking loans and suchlike.?


AM sure you would call me agbado.......but we were in a shitty situation, and it was godawful. Make no mistake, vote Obi, vote Kwankwaso....it would have produced the same result re oil prices.

Yes, I am angry with APC, and they are useless.....but politcs aside, unless you have a pot filled with 130 trillion naira....no way we were going to keep fuel prices low.


The problem with Nigeria is that we keep making the same mistakes over and over again, whoever is in charge , because we don't want to do the right thing, and we don't want to end corruption.

If the pdp or LP won the election they would have at least recovered half of what buhari and his apc gang looted from nigeria's common wealth and put them back into the economy those billions of dollars are still hidden somewhere lieng idle without being put into a productive use. Tinubu himself can't claim not to be aware of all the economic atrocities that was committed by buhari's regime but would never dare do a proper probe because he is the major beneficiary of buhari's regime all the prosecution of emefiele is just a jamboree and smokescreen.

When we in Akwa Ibom State is buying N1,250, Last two week it was N1,800. So please let the price not only Abuja and Lagos. Thanks God this government are not the one controlling the sun,

When we in Akwa Ibom State is buying N1,250, Last two week it was N1,800. So please let the price not only Abuja and Lagos. Thanks God Tpain is not the one controlling the sun,

nairalanda1:
The question you should be asking is what is government doing to make us more money, and to diversify our economy, and to actually fight corruption.?

The answer to all those questions sadly is...no.

u are the one is that saying nothing will be different between Obi and Tinubu..I just gave u a reason. Obi won't live extravagant lifestyle with tax payers money

flyinnizam:
u are the one is that saying nothing will be different between Obi and Tinubu..I just gave u a reason. Obi won't live extravagant lifestyle with tax payers money

Yeah ,and both tinubu and obi and company are all useless

Nigeria must industrialize

nairalanda1:
Yeah ,and both tinubu and obi and company are all useless

Nigeria must industrialize

u can't know Obi team when he has no cabinet

What about relative cost advantage theory?
What about localization of industry principle?
So local prices of a country's owned produce should be sold at international price level?
Bro, do you support that we need the local refineries working?
Why am I even answering you?
Just move on

nairalanda1:
.

Selling crude in naira was never going to bring down the price of fuel.

Crude is still priced in dollars, it is just being sold in the naira equivalent of the dollar cost, and yes, fluctuations in the exchange would affect the cost of the same crude.

PLUS, refining crude into petrol costs N800 at most. Factor in transport costs, most of it done on diesel trucks...diesel being expensive...and here we are.

That's why we should have removed subsidy since...1993, or even 2012, we would have been over the worst.




Well, at the end, fuel has to be sold at a profit. Not selling fuel at a profit is a big reason why we lost four refineries, had massive corruption in NNPC, and ended up being a net importer of petrol.

Because under subsidy, fuel refining at home is not going to be profitable.

Matrixoba:
What about relative cost advantage theory?
What about localization of industry principle?
So local prices of a country's owned produce should be sold at international price level?
Bro, do you support that we need the local refineries working?
Why am I even answering you?
Just move on

What about allowing product from refineries to be sold at a profit in the first place?

Not doing that for five decades is why we are here

Big grammar don't change that

People like you are dangerous even to yourself.
Speaking to justify whatever favors you.
Ride on, bro.

nairalanda1:
What about allowing product from refineries to be sold at a profit in the first place?

Not doing that for five decades is why we are here

Big grammar don't change that

Matrixoba:
People like you are dangerous even to yourself.
Speaking to justify whatever favors you.
Ride on, bro.

Okay, enjoy your 40 naira fuel then, son

Thank you Sir.

nairalanda1:
Okay, enjoy your 40 naira fuel then, son

CodeTemplarr:
The moment it was sold to a refiner to refine at intl price, it became the refiners own, so you either buy at intl rate or . . .

Is the ill-policies and mismanagement of available resources that causes all what we are seeing now