₦airaland Forum

Wallade:
Being clever abi.

So when you investigated, what reason did you find or premise your justification? What is the major reason to remove petroleum products subsidy - give us your opinion?

My opinion is encapsulated in this simple, cogent explanation by AI (ChatGPT)



''Why did Nigeria end fuel subisidies?''

...............

AI Response


Nigeria ended fuel subsidies primarily to address longstanding economic inefficiencies, reduce fiscal burdens, and promote more sustainable economic growth. Here’s a breakdown of the key reasons for this decision:

1. Unsustainable Fiscal Pressure
Fuel subsidies had become a significant drain on Nigeria’s national budget. In 2022 alone, Nigeria spent over $10 billion on fuel subsidies, which accounted for nearly half of the country's revenue. This left little room for investment in critical infrastructure, education, and healthcare.

2. Corruption and Inefficiency
The fuel subsidy regime was riddled with corruption, including inflated claims by marketers and smuggling of subsidized fuel to neighboring countries. The government often found it challenging to regulate the system effectively, leading to substantial losses. Ending the subsidies was seen as a way to curb these inefficiencies.

3. Global Oil Price Volatility
Nigeria, despite being a major oil producer, depends on imported refined petroleum due to inadequate local refining capacity. Subsidizing fuel became increasingly costly with fluctuating global oil prices. High oil prices, which benefit Nigeria's crude exports, also increased the cost of importing refined fuel for domestic consumption, worsening the subsidy burden.

4. Economic Reforms and Diversification
Ending subsidies aligns with Nigeria’s broader goal of economic diversification and reform. By eliminating the subsidy, the government can redirect funds toward investments in agriculture, manufacturing, renewable energy, and other sectors that reduce dependency on oil revenues.

5. Recommendations from International Organizations
Global financial institutions like the International Monetary Fund (IMF) and the World Bank have long recommended the removal of fuel subsidies, citing them as economically regressive and favoring the wealthy over the poor. These organizations argued that subsidy removal would create a more transparent and equitable economic framework.

6. Local Refining Ambitions
With the commissioning of the Dangote Refinery, the world’s largest single-train refinery, Nigeria expects to reduce its reliance on imported refined petroleum. This infrastructure aims to stabilize fuel availability and potentially lower costs in the long term, making the subsidy system less necessary.

7. Pressure to Increase Revenue
Nigeria has faced declining revenues due to oil theft, inefficiencies in tax collection, and economic mismanagement. Eliminating subsidies was part of the government's strategy to free up funds and focus on increasing its revenue base through other means.

Challenges and Public Reaction
The removal of subsidies has not been without controversy. Fuel prices have risen significantly, leading to protests, increased transportation costs, and inflation. The government has sought to mitigate these impacts by introducing measures like a proposed cash transfer program for vulnerable households and improving public transportation infrastructure.

Conclusion
Ending fuel subsidies was a bold and necessary step for Nigeria to stabilize its economy and reallocate resources more effectively. While the short-term effects have been challenging for the average Nigerian, the long-term benefits, if managed correctly, could include better infrastructure, increased local production, and a more diversified economy.

.........................

- ChatGPT AI

Tellmeastory:
WHICH PEOPLE?

WHICH EXPERIENCE?

NONE of the posters on this thread has a child in any of those poor schools.

NONE.

AND NONE HAS SAID THEIR CHILD IS IN ANY OF THOSE SCHOOLS.

Because of your negative mindsets, ONE picture online showing poor food given to the kids in one school translates to ''ALL'' or ''MOST'' schools are feeding them ''worthless food'', in your heads.

YOUR MINDSETS ARE SICK.

They don't have to have a child. All they need to know is that this is Nigeria. They have seen stories and photos from before. They KNOW most of that money WILL be looted unless there is a SURE system of accountability, which of course there won't be!

Tellmeastory:
My opinion is encapsulated in this simple, cogent explanation by AI (ChatGPT)



''Why did Nigeria end fuel subisidies?''

...............

AI Response


Nigeria ended fuel subsidies primarily to address longstanding economic inefficiencies, reduce fiscal burdens, and promote more sustainable economic growth. Here’s a breakdown of the key reasons for this decision:

1. Unsustainable Fiscal Pressure
Fuel subsidies had become a significant drain on Nigeria’s national budget. In 2022 alone, Nigeria spent over $10 billion on fuel subsidies, which accounted for nearly half of the country's revenue. This left little room for investment in critical infrastructure, education, and healthcare.

2. [b]Corruption and Inefficiency[/b]
The fuel subsidy regime was riddled with corruption, including inflated claims by marketers and smuggling of subsidized fuel to neighboring countries. The government often found it challenging to regulate the system effectively, leading to substantial losses. Ending the subsidies was seen as a way to curb these inefficiencies.

3. Global Oil Price Volatility
Nigeria, despite being a major oil producer, depends on imported refined petroleum due to inadequate local refining capacity. Subsidizing fuel became increasingly costly with fluctuating global oil prices. High oil prices, which benefit Nigeria's crude exports, also increased the cost of importing refined fuel for domestic consumption, worsening the subsidy burden.

4. Economic Reforms and Diversification
Ending subsidies aligns with Nigeria’s broader goal of economic diversification and reform. By eliminating the subsidy, the government can redirect funds toward investments in agriculture, manufacturing, renewable energy, and other sectors that reduce dependency on oil revenues.

5. Recommendations from International Organizations
Global financial institutions like the International Monetary Fund (IMF) and the World Bank have long recommended the removal of fuel subsidies, citing them as economically regressive and favoring the wealthy over the poor. These organizations argued that subsidy removal would create a more transparent and equitable economic framework.

6. Local Refining Ambitions
With the commissioning of the Dangote Refinery, the world’s largest single-train refinery, Nigeria expects to reduce its reliance on imported refined petroleum. This infrastructure aims to stabilize fuel availability and potentially lower costs in the long term, making the subsidy system less necessary.

7. Pressure to Increase Revenue
Nigeria has faced declining revenues due to oil theft, inefficiencies in tax collection, and economic mismanagement. Eliminating subsidies was part of the government's strategy to free up funds and focus on increasing its revenue base through other means.

Challenges and Public Reaction
The removal of subsidies has not been without controversy. Fuel prices have risen significantly, leading to protests, increased transportation costs, and inflation. The government has sought to mitigate these impacts by introducing measures like a proposed cash transfer program for vulnerable households and improving public transportation infrastructure.

Conclusion
Ending fuel subsidies was a bold and necessary step for Nigeria to stabilize its economy and reallocate resources more effectively. While the short-term effects have been challenging for the average Nigerian, the long-term benefits, if managed correctly, could include better infrastructure, increased local production, and a more diversified economy.

.........................

- ChatGPT AI

Do you agree strongly with Number 2?

DaddyCoool:
They don't have to have a child. All they need to know is that this is Nigeria. They have seen stories and photos from before. They KNOW most of that money WILL be looted unless there is a SURE system of accountability, which of course there won't be!

THANKS FOR EXPLAINING YOUR IDIOCY.

YOU SAW A PICTURE AND HEARD ''STORIES''.

HOW MANY ''STORIES''?

THREE?

TEN?

DO YOU KNOW HOW MANY TENS OF THOUSANDS OF SCHOOLS ARE ENJOYING THE FEEDING?

EMPTY HEAD.

''THIS IS NIGERIA'', SO WHY DIDN'T THEY LOOT THE MONEY THAT BUILT THE HOSPITAL YOU WERE BORN IN, OR THE SCHOOL YOU ATTENDED. OR THE ROADS YOU RODE ON TODAY?

EWU.

Wallade:
Do you agree strongly with Number 2?

ABSOLUTELY.

It was known and proven to be the case, that corruption was invited by the subsidy.

Where is your evidence that the federal school feeding program is failed or riddled with corruption etc?

ZERO!!!!!!

Tellmeastory:
THANKS FOR EXPLAINING YOUR IDIOCY.

YOU SAW A PICTURE AND HEARD ''STORIES''.

HOW MANY ''STORIES''?

THREE?

TEN?

DO YOU KNOW HOW MANY TENS OF THOUSANDS OF SCHOOLS ARE ENJOYING THE FEEDING?

EMPTY HEAD.

''THIS IS NIGERIA'', SO WHY DIDN'T THEY LOOT THE MONEY THAT BUILT THE HOSPITAL YOU WERE BORN IN, OR THE SCHOOL YOU ATTENDED. OR THE ROADS YOU RODE ON TODAY?

EWU.

Stop talking like a fool. Certain things are more sysceptible to looting than others. See below

DaddyCoool:
Stop talking like a fool. Certain things are more sysceptible to looting than others. See below

You must be a compound fool to post ANY OLD GARBAGE FROM FACEBOOK as your ''evidence''.

Even the spelling and diction are atrocious.

''Be maded with''? What's that?

Likely an Obidient post.

Tomorrow you will say you went to school.

Tellmeastory:
You must be a compound fool to post ANY OLD GARBAGE FROM FACEBOOK as your ''evidence''.

Even the spelling and diction are atrocious.

''Be maded with''? What's that?

Likely an Obidient post.

Tomorrow you will say you went to school.

How about this below, GENIUS!
People like you eh!

Tellmeastory:
ABSOLUTELY.

It was known and proven to be the case, that corruption was invited by the subsidy.

Where is your evidence that the federal school feeding program is failed or riddled with corruption etc?

ZERO!!!!!!

If you agree on that case, I wonder why you seem to ignore or deliberately want to excuse these:

https://www.premiumtimesng.com/news/top-news/418849-n2-67b-school-feeding-fraud-minister-orders-investigation.html?tztc=1

https://www.vanguardngr.com/2020/06/reps-probe-n494bn-alleged-school-feeding-funds-fraud/amp/

https://www.google.com/amp/s/tribuneonlineng.com/the-n2-6-billion-school-feeding-scam/

https://www.google.com/amp/s/www.arise.tv/icpc-uncovers-n2-67bn-fraud-in-nigerian-govt-school-feeding-program-says-funds-diverted-to-private-accounts/amp/

https://www.google.com/amp/s/businessday.ng/editorial/article/n2-67bn-school-feeding-alleged-fraud-acid-test-for-buharis-corruption-fight/%3famp

https://www.efcc.gov.ng/efcc/news-and-information/news-release/5680-efcc-arraigns-bankers-over-fraud-steals-n1-2m-from-home-grown-school-feeding-programme

https://www.premiumtimesng.com/news/more-news/417607-icpc-clarifies-position-on-n2-67bn-school-feeding-fraud-allegation.html

Don't you think this is corruption, inefficiency, fraudulent misuse and diversion of funds meant for the school feeding programme?

These corruption, fraudulent misuse and diversion of funds and more reasons are the justifications we have against the school kids feeding programme of the federal government.

The school kids feeding programme fund can be channeled into other programme like education, health care, agriculture and research programme subsidy.


I have given you enough proofs that the the school kids feeding programme of the federal government is associated with corruption, mismanagement, inefficiency and fraud.

I expect that the logical thing for you to do is to run back into your hole with your tail between your legs.

Or do you have anything to say.

DaddyCoool:
How about this below, GENIUS!
People like you eh!

This fool thinks he can post any stupid image from the web. Where is the link and source, and article?

What are we supposed to do with that thing you posted?

Tellmeastory:
This fool thinks he can post any stupid image from the web. Where is the link and source, and article?

What are we supposed to do with that thing you posted?

Are you blind or you have sight problem?

Anyway, link source is the Guardian Newspaper - that is an authority in the media and newsprint industry.

Or are you an authority in that industry? Should we trust your information more than "The Guardian Newspaper" information?

Wallade:
If you agree on that case, I wonder why you seem to ignore or deliberately want to excuse these:

https://www.premiumtimesng.com/news/top-news/418849-n2-67b-school-feeding-fraud-minister-orders-investigation.html?tztc=1

https://www.vanguardngr.com/2020/06/reps-probe-n494bn-alleged-school-feeding-funds-fraud/amp/

https://www.google.com/amp/s/tribuneonlineng.com/the-n2-6-billion-school-feeding-scam/

https://www.google.com/amp/s/www.arise.tv/icpc-uncovers-n2-67bn-fraud-in-nigerian-govt-school-feeding-program-says-funds-diverted-to-private-accounts/amp/

https://www.google.com/amp/s/businessday.ng/editorial/article/n2-67bn-school-feeding-alleged-fraud-acid-test-for-buharis-corruption-fight/%3famp

https://www.efcc.gov.ng/efcc/news-and-information/news-release/5680-efcc-arraigns-bankers-over-fraud-steals-n1-2m-from-home-grown-school-feeding-programme

https://www.premiumtimesng.com/news/more-news/417607-icpc-clarifies-position-on-n2-67bn-school-feeding-fraud-allegation.html

Don't you think this is corruption, inefficiency, fraudulent misuse and diversion of funds meant for the school feeding programme?

These corruption, fraudulent misuse and diversion of funds and more reasons are the justifications we have against the school kids feeding programme of the federal government.

I have given you enough proofs that the the school kids feeding programme of the federal government is associated with corruption, mismanagement, inefficiency and fraud.

I expect that the logical thing for you to do is to run back into your hole with your tail between your legs.

Or do you have anything to say.

YOU ARE TRULY SHAMELESS.

IN FACT YOUR POST PROVES MY POINT AND MAKES ME REJOICE.

YOU HAD TO DIG ALL THE WAY BACK TO 2020 - A FULL 5 YEARS AGO UNDER BUHARI, TO FIND ANY ALLEGATION OF CORRUPTION IN THE FEDERAL SCHOOL FEEDING PROGRAMME.

MY CASE IS PROVEN!

THE PROGRAMME IS WORKING AND FEEDING NIGERIAN CHILDREN.

IF YOU HAD ANY PROBLEMS IN THE PAST, TAKE IT UP WITH BUHARI.

HE IS IN DAURA.

DON'T USE YOUR BAD MIND TO SPOIL WHAT MR PRESIDENT IS DOING TODAY.

Tellmeastory:
YOU ARE TRULY SHAMELESS.

IN FACT YOUR POST PROVES MY POINT AND MAKES ME REJOICE.

YOU HAD TO DIG ALL THE WAY BACK TO 2020 - A FULL 5 YEARS AGO UNDER BUHARI, TO FIND ANY ALLEGATION OF CORRUPTION IN THE FEDERAL SCHOOL FEEDING PROGRAMME.

MY CASE IS PROVEN!

THE PROGRAMME IS WORKING AND FEEDING NIGERIAN CHILDREN.

IF YOU HAD ANY PROBLEMS IN THE PAST, TAKE IT UP WITH BUHARI.

HE IS IN DAURA.

DON'T USE YOUR BAD MIND TO SPOIL WHAT MR PRESIDENT IS DOING TODAY.

Stupid man, so you can still talk this shit point on this subject. You have a serious problem, have a nice day.

I have better things to do.

Wallade:
Stupid man, so you can still talk this shit point on this subject. You have a serious problem, have a nice day.

I have better things to do.

LET US KNOW WHEN YOU GET EVIDENCE NEWER THAN 5 YEARS AGO.

EWU HATER!

Wallade:
Are you blind or you have sight problem?

Anyway, link source is the Guardian Newspaper - that is an authority in the media and newsprint industry.

Or are you an authority in that industry? Should we trust your information more than "The Guardian Newspaper" information?

POST THE URL LINK!!!!!!!!!!!!!!!!

Another looting avenue. Just like buying computers and utensils every year.

Tellmeastory:
POST THE URL LINK!!!!!!!!!!!!!!!!

nedu666:
Another looting avenue. Just like buying computers and utensils every year.

IPO.B OPINION IS IRRELEVANT.

GET LOST.

Wallade:

He cannot post the URL so we can read it ourselves.

He is hiding the date etc, so the headline is obviously from 5 years ago or more!!!

This forum is crawling with anti-Nigerian crooks and liars!

Tellmeastory:
IPO.B OPINION IS IRRELEVANT.

GET LOST.

Bleep off. I am entitled to my opinion you son of a bitch. Stupid irredeemable idiot

nedu666:
Bleep off. I am entitled to my opinion you son of a bitch. Stupid irredeemable idiot

Of course you are entitled to your opinion.

But as a non-Nigerian, it holds no value.

Wallade:
Stupid man, so you can still talk this shit point on this subject. You have a serious problem, have a nice day.

I have better things to do.

Please stop responding to the retarded troll. He's just a troll and your responding to him gives him a sense of importance

Tellmeastory:
Where is your evidence that the federal school feeding program is failed or riddled with corruption etc?
ZERO!!!!!!

Aren't you embarrassed you're the ONLY one with this viewpoint. Doesn't that give you food for thought??

Tellmeastory:
Of course you are entitled to your opinion.

But as a non-Nigerian, it holds no value.

Who the Bleep asked you. Failed oversabi overopinated roach

DaddyCoool:
Please stop responding to the retarded troll. He's just a troll and your responding to him gives him a sense of importance



Aren't you embarrassed you're the ONLY one with this viewpoint. Doesn't that give you food for thought??

"Do not fear to be eccentric in opinion, for every opinion now accepted was once eccentric."

– Bertrand Russell

Nairaland is a CESSPOOL of Obidient anti-Nigerian hate.

You do not represent Nigerian public opinion.

nedu666:
Who the Bleep asked you. Failed oversabi overopinated roach

Go 'sit at home' and STFU.

You are irrelevance personified.

Don't you get it?

Singing in my ears like a fcking mosquito.

Tellmeastory:
Go 'sit at home' and STFU.

You are irrelevance personified.

Don't you get it?

Singing in my ears like a fcking mosquito.

Stfu. You son of a fool. You go about insulting everyone. You think you are the only one that can insult. Disgusting lawma truck. You stink like your ass

Tellmeastory:
"Do not fear to be eccentric in opinion, for every opinion now accepted was once eccentric."

– Bertrand Russell

Quote-mining idiotic troll, incapable of original thought. Why don't you say something so people can quote you?!

nedu666:
Stfu. You son of a fool. You go about insulting everyone. You think you are the only one that can insult. Disgusting lawma truck. You stink like your ass

Go to your BI.AFRA forum.

What do you want here?

We don't craft secession papers on Nairaland.

DaddyCoool:
Quote-mining idiotic troll, incapable of original thought. Why don't you say something so people can quote you?!

I'VE SAID NUMEROUS INSIGHTFUL THINGS ABOVE, SUCH AS ''STOP POSTING OUTDATED GARBAGE FROM 5 YEARS AGO AS 'EVIDENCE' THAT THE FEDERAL GOVT SCHOOL FEEDING PROGRAM IS A CORRUPT SCAM. DOING SO MAKES YOU AN IMBECI.LE.''.

Sounds pretty insightful to me.

Trust me, I'm nowhere near as diplomatic as Einstein.

nedu666:
Stfu. You son of a fool. You go about insulting everyone. You think you are the only one that can insult. Disgusting lawma truck. You stink like your ass

Please STOP responding to the retarded troll! IGNORE HIM!!! Responding gives him a bit sense of relevance - something he totally lacks!

Tellmeastory:
I'VE SAID NUMEROUS INSIGHTFUL THINGS ABOVE, SUCH AS ''STOP POSTING OUTDATED GARBAGE FROM 5 YEARS AGO AS 'EVIDENCE' THAT THE FEDERAL GOVT SCHOOL FEEDING PROGRAM IS A CORRUPT SCAM. DOING SO MAKES YOU AN IMBECI.LE.''.

Sounds pretty insightful to me.

Trust me, I'm nowhere near as diplomatic as Einstein.

Mr. troll is January 2024 5 years ago? Genius!

https://guardian.ng/features/education/how-poor-planning-corruption-ruin-n200b-school-feeding-initiative-in-states/

DaddyCoool:
Mr. troll is January 2024 5 years ago? Genius!

https://guardian.ng/features/education/how-poor-planning-corruption-ruin-n200b-school-feeding-initiative-in-states/

I’ve just read it, and it’s the SAME OLD CRAP OF BUHARI ERA.

Talking about what transpired under Buhari!

It’s over. MOVE ON.

This is TINUBU ERA.

GIVE THE MAN A CHANCE TO WORK AND STOP BEING ASSHOLES!!!!!!