₦airaland Forum

mickyeddi:
This is what happens when you allow dumb illiterates to vote.

nairalanda1:
Me, I think that tinubu is a hypocrite, and a crook.

But if your governments in the past had removed subsidy, you would have said the same thing. If GEJ had removed subsidy in 2012, you would have cursed his supporters.

Also, let's imagine that government had kept subsidy as it was since 2012, or even since 1999. By now, fuel subsidy costs would have been at least 36 trillion naira or more annually. Our budget for this year was around 49 trillion. That means that once we have paid for subsidy for the year we don't have much left.

SO, at the end of the day we take loans. The problem is, IMF Is getting tired of our loan begging...so they have been refusing loans. You can guess what would be happening now? No money to pay for ANYTHING...and a debt that keeps growing.

Nothing is cheap in this life. Ghana has expensive fuel. Even more expensive than ours, ditto Niger. And they have working refineries because the profits made keep them working. And they have crude.

Note that if we had removed subsidy in 1993 , we would have long since been over the worst, and even have been earning tons of dollars in the billions from export. But you NIgerians kept on saying no. Even this removal....Tinubu was forced to remove because the debt was getting too too much. And he was among those leading the charge in the past to say no. See how karma is dealing with him.


Make we wake up. Petrol is not cheap. All the workers in dangote refinery want to be paid global standard salary, not Naija standard. All the people transporting and selling the fuel want to be paid. And they are Nigerians like you suffering under this t-pain economy. Maybe you want them to suffer loss so that you can enjoy cheap fuel. Sadly, life is not like that.


Or maybe you should pay half your income so that we can all have cheap fuel...all of us should do...because that is how they pay for subsides in most saner climes. And the said subsides are not for everyone self.





Look, like I said, I don't support tinubu. But let's forget about politics and think in economic terms.

crossbreedwears:
Petrol can't be sold at 500 naira/litre again

nairalanda1:
Okay, let's crunch some numbers.

Let's assume that tinubu said on Jan 1 this year that fuel would cost N65 per liter.

That means that subsidy cost would come to about 100 billion naira daily. Or 36 TRILLION Naira annually.

As you know, our budget for this year was N49 trillion, meaning that once we take 36 trillion out, we would have 13 trillion left.

Salaries won't be paid, projects won't be executed, and services won't be done. You may not be able to get passports, documents, etc...because no money.

And the debt would rise as we try to borrow more. Our debt is N135 trillion as at the end of last year, and rising. Maybe it would shoot to N200 trillion.

Meaning, no money for even importing anything...ashewo included.

Result...Sri Lanka ten times over.


Who do you this kind thing?

Standing5:
you have the right to feel entitled to cheap petrol seeing Nigeria is a petroleum country, but remember the rice farmers, and how they used the intl price of rice as benchmark for their harvest, even after enjoying the lion's share of govt support to agric.

donself9:
And what school of thought compels you to feel "expensive" should be an "ideal" .. you sound like it and thats what APC ideology seems to resonate, life must be hard, things must be expensive thats the only way

I can't blame farmers that are risking there lives and paying levies to bandits just to access there farm lands, beside whats the proof govt audio support get to the farmers, we are talking about an Apc govt that spent billions to feed school children no one saw ... even not a single parent can relate

The fact that Tinubu govt is so endear to rice as palliative is enough catalyst for "hike" ... moreso placing a ban on imported rice automatically triggers a surge in demand for alternates, high demand spike prices there is nothing locals can do about it, these where a responsible govt comes in nd subsidize


Naa govt get junk of the blame however you look at it

Standing5:
The only way to prove that petrol can be cheaper is if someone starts selling at a cheaper rate. You can refine your and let us see how cheap it will be.

Endinjustice:


I thought they claimed that two refineries have started working at full capacity and that we should expect price of petrol to fall below #500/l this week.


Propaganda does not fix economy.

Endinjustice:
I'm sure you were amongst those who called for fire and brimstone and wanted to burn down the country when it was increased to #145.

CommonSense1967:
Price will always go up and down. That's what we have in the US and other advance economies.
Price is never static.
Price of petrol will fluctuate depending on many factors including price of crude oil and other factors.
Price is not set by any govt, the market determines the price. That's how real economy works.

blaise26abj:
Not a Christmas gift but economy at play . There has always been a lower global demand for petrol during the festive season because most of the western nations depend more on gas during the winter season . It causes reduction in price . After winter , prices of crude surges . So here we are . It means more money for Nigeria but more spending for the citizens

nairalanda1:
Me, I think that tinubu is a hypocrite, and a crook.

But if your governments in the past had removed subsidy, you would have said the same thing. If GEJ had removed subsidy in 2012, you would have cursed his supporters.

Also, let's imagine that government had kept subsidy as it was since 2012, or even since 1999. By now, fuel subsidy costs would have been at least 36 trillion naira or more annually. Our budget for this year was around 49 trillion. That means that once we have paid for subsidy for the year we don't have much left.

SO, at the end of the day we take loans. The problem is, IMF Is getting tired of our loan begging...so they have been refusing loans. You can guess what would be happening now? No money to pay for ANYTHING...and a debt that keeps growing.

Nothing is cheap in this life. Ghana has expensive fuel. Even more expensive than ours, ditto Niger. And they have working refineries because the profits made keep them working. And they have crude.

Note that if we had removed subsidy in 1993 , we would have long since been over the worst, and even have been earning tons of dollars in the billions from export. But you NIgerians kept on saying no. Even this removal....Tinubu was forced to remove because the debt was getting too too much. And he was among those leading the charge in the past to say no. See how karma is dealing with him.


Make we wake up. Petrol is not cheap. All the workers in dangote refinery want to be paid global standard salary, not Naija standard. All the people transporting and selling the fuel want to be paid. And they are Nigerians like you suffering under this t-pain economy. Maybe you want them to suffer loss so that you can enjoy cheap fuel. Sadly, life is not like that.


Or maybe you should pay half your income so that we can all have cheap fuel...all of us should do...because that is how they pay for subsides in most saner climes. And the said subsides are not for everyone self.





Look, like I said, I don't support tinubu. But let's forget about politics and think in economic terms.

Endinjustice:


I thought they claimed that two refineries have started working at full capacity and that we should expect price of petrol to fall below #500/l this week.


Propaganda does not fix economy.

galserv:
We MUST produce enough crude 🪔 to sell to our local refineries and meet our OPEC quota

Currently we are struggling to meet our OPEC quota

Only then can we be immune from the shocks of international market crude oil price fluctuations

But then, if our local PMS becomes far cheaper compared to our neighbour's, won't it lead to massive smuggling

nairalanda1:
Indeed

But the thing is, Nigerians are fixated on the idea of fuel must be cheap

That's why.most of them were protesting in 2012. Despite the fact that cheap fuel back then was eating most of our revenue

CommonSense1967:
Price will always go up and down. That's what we have in the US and other advance economies.
Price is never static.
Price of petrol will fluctuate depending on many factors including price of crude oil and other factors.
Price is not set by any govt, the market determines the price. That's how real economy works.

AfonjaConehead:
Pigsamaka

IronCondemned:
Honestly, I am confused at the government arrangements with the agreement between it and Dangote.
Since the crude is supplied to Dangote in Naira, is the global spike in the crude oil prices supposed to affect it? The crude is local, the Naira is local, all are in a stable condition, so why the increase.

This government of Tinubu is not sincere in all it does. There is no transparency in this at all.

TaminaliaCatapa:
Listen, Nigeria has too many resources to tap from to subsidize PMS; all the government needs is to put on their thinking cap and halt monopoly.

Nigerians do not get paid any benefit, and you’re justifying this nonsense. Do you also support the wasteful spending of these politicians renovating useless residences and buying foreign cars?

Elusive001:
What's the actually daily fuel consumption in the country?

What's the actually cost of subsidy?

Bobloco:
Watch how some urchinstons, paid agents, and BATerians defend this, telling you that oil is a global commodity priced in dollars. You may then begin to wonder what the purpose and benefits were of the naira crude deal between NNPCL and Dangote

galserv:
We MUST produce enough crude 🪔 to sell to our local refineries and meet our OPEC quota

Currently we are struggling to meet our OPEC quota

Only then can we be immune from the shocks of international market crude oil price fluctuations

But then, if our local PMS becomes far cheaper compared to our neighbour's, won't it lead to massive smuggling

AfonjaConehead:
Pigsamaka

NOETHNICITY:
Sadly when I see comments like this, makes me so ashamed of our educational systems