₦airaland Forum

The World Bank recently urged Nigeria to maintain its policy on removal of fuel subsidies and not reverse its current reforms.

It argues that the reforms are necessary for the nation’s long-term stability.

One of the major reforms introduced by President Bola Tinubu’s administration is the removal of fuel subsidies on May 29, 2023.

This has astronomically pushed up the price of petrol per litre to around N1,030.

Despite such calls for non-return of fuel subsidies, checks by SaharaReporters show that many countries of the world, including more developed ones than Nigeria are still spending heavily on fuel subsidies.

Data by the International Monetary Fund gives an insight into this issue.

For instance, subsidies per capita as published by IMF in September 2023 shows that in Qatar, it stood at $3897, in Saudi Arabia, the amount stood at $4817, in Kuwait, the amount stood at $5058 per capita, while that of Korea stood at $1178.

In Luxembourg, the amount stood at $4389, in the United States, the fuel subsidy per capita stood at $1535, Russia was $1419, Singapore stood at $2167, and Oman spent $1994 per capita on fuel subsidies.

The poverty rate in Qatar was put at 0.4% while in Saudi Arabia, the poverty rate stood at 13.56%. the poverty rate for Oman was put at 10.1% by the published data.

In contrast, a report by the National Bureau of Statistics says 63% of persons in Nigeria are multidimensionally poor.

Like Nigeria, Qatar is also one of the world’s leading producers of crude oil at an approximate crude oil production of 1.76 million per day, that of Saudi Arabia is estimated at 9.5 million barrels per day.

Experts and political commentators have argued that the World Bank’s position is not in tandem with the realities in Nigeria.

Former Kaduna Senator, Shehu Sani had alleged that “the World Bank wants the hardship to extend to the next fifteen years before we can reach the promise land”.

“I don’t know of how many people will be remaining at that time to enjoy the fruits of the WB in its promise land. The question is how many African countries did the World Bank take to the promise land?” he posted on X.

The Nigeria Labour Congress at different times have argued that hikes in fuel prices will cause more suffering for Nigerians.

Recently, the House of Representatives called on the government to review its policies in a bid to ensure that Nigerians do not suffer too much hardship.

President Tinubu had justified the removal on the need to save money for the country and also block corruption loopholes in the country’s petrol sector.

9jatriot:
Check the population of those countries, compare it with ours, then add the population of our neighboring countries that we also subsidize for because of smuggling.

For the records, I am not sure Saudi still subsidizes its petrol

helinues:
What's their population?

JASONjnr:
You people always compare the prices of things with western countries and now that we're looking into it... You're asking about population?

Isn't it even more stupid that a government will subsidized pump price for it's citizens while asking you to keep suffering that your reform is okay?..

Using you as a case study?

Mr. Incoherent.

helinues:
So Arabs are now western countries right?

Whats the temperature of your confusion

JASONjnr:
Was it only Arab that was mentioned?

You didn't take your olodo medication this evening?

helinues:
Oya mention the western countries listed above.

I have told you severally to troll with sense. You always like to disgrace yourself with your half bakedness

helinues:
What's their population?

JASONjnr:
US, Australia was mentioned...... And those are western countries.

Mr. I win arguments for a living.....

WorldRichest:
UAE and Qatar are less than Lagos. USA is 30% more than Nigeria while Saudi is like 50% of Nigeria

Kukutenla:
I tell Zombies that their god is just suffering Nigerians for nothing.
They just go about mouthing "reforms are needed" without interrogating what they are saying.
Look at the figures above per head in these countries.
The US that is the bastion of Capitalism has the most heavily subsidized economy in the world. From food stamps, agric subsidies, fossil fuel and clean energy subsidies to defence and health subsidies, most critical sectors of the US economy is heavily subsidized. The most ridiculous one is the child tax credit which basically gives single parents an average of $6500(N10.6m) per child they raise.
The UK has 25% of its budget catering for social benefits and welfare. But some people are telling us to suffer for 15 years after which we will just wake up and our country wil be better than China and the US combined.
Whoever believes that needs to have his brain replaced with fermented corn water

helinues:
Stop disgracing yourself further more. Australia is in Oceania, they are not referred as part of western countries.

Can't you see this senseless trolling is just exposing your half bakedness

Western countries generally refer to nations in Europe and the Americas that share cultural, political, and economic similarities. Some of the most prominent western countries include:

1. United States
2. Canada
3. United Kingdom
4. Germany
5. France
6. Italy
7. Spain
8. Australia
9. New Zealand
10. Netherlands

These countries are often part of alliances like NATO and the European Union (for most European countries).

JASONjnr:
You made me used Google....



Please argue with sense......

And I can't troll a child like you... You're way too stupid for me to troll ... I often educate you to get sense.

WorldRichest:
Emilokan JAGABAN is President till 2031 when he will handover to Shettima/Wike. If you like continue convulsing

Kukutenla:
Zombie
Are you the one arranging chairs in the presidency?
So who will be president in 2045?

helinues:
Western countries generally refer to nations in Europe and the Americas

Is Australia in Europe or Americas?

What value do the Oceania's shared with the western world?

Have you seen them interfering with the senseless wars going around?

If you have not disgraced your on my mentions, your body won't calm down

These countries are often part of alliances like NATO and the European Union (for most European countries).

helinues:
Stop disgracing yourself further more. Australia is in Oceania, they are not referred as part of western countries.

Can't you see this senseless trolling is just exposing your half bakedness

JASONjnr:
I don't know if you've never heard of Google.

Just search and stop blabbing like a mental disordered goat.

Kukutenla:
What is half bakdeness
English don suffer for this guy hand
See just type in your mother tongue and use Google translate to translate to English. Foreigners especially Southies do visit this forum

helinues:
Hope you have not stopped living because of president Tinubu

Kukutenla:
Are you living with Tinubu

helinues:
Use your head instead of relying on Google

JASONjnr:
The same head you use in spitting nonsense?

The head you have that's empty and can't even hold a sense?

No wonder you argue blindly.....And when people get fade up and abandon you to your foolishness, you begin to aim winning arguments back to back😂😂😏😏

helinues:
Stop disgracing yourself further more. Australia is in Oceania, they are not referred as part of western countries.

Can't you see this senseless trolling is just exposing your half bakedness

phantomxx:
See person wey no enter oven at all dey refer to another person as half baked.

Ogbeni, what countries make up the west? Why are they called western countries ?

helinues:
Stop shifting goal post. I have exposed your half knowledge about this discussion again.

Why do you always bring your head to receive Akpako from me all the time when you know that I am always to handle all of you people

JASONjnr:
Lol....


So, your brain told you that Australia isn't a western country and that means you're right and have won?

Ok, you win 😂😂😂😂😂

b]Western countries generally refer to nations in Europe and the Americas[/b]