₦airaland Forum

BucketHat:
Boss man,NNPC.. Nigeria national petroleum corporation nah naija get am 💯% & of which dem answerable to we the citizenry even tho Nigeria we nor get full access to crude 💯% because nah the IOC'S get the assets to drill the crude.

My pain be seh enh,since we discover this crude over 50 years ago for Nigeria 🇳🇬 some set of people deh thief am with huge tanker & big ships soteh dem get oil & gas companies even refineries outside Nigeria allegedly.

We the people of Nigeria nor fit enjoy this black gold weh God give us including other resources.

No consequences for bad behaviour in our country,corruption don become norm.

Look, we don't earn enough money. All the corruptuion in NNPC and elsewhere makes the limited money we earn fall even more in amount.

That's what most of you on this site do not get. Na to call people agbado and oppressor you know. Meanwhile, if we removed corruption totally at best we would get something like 50-70 trillion naira per annum.

Meanwjile we need budgets starting at 100 trillion.

NO I AM NOT DEFEDING TINUBU.

We are so broke . Yaradua gave us a forex reserve of 60 bn dollars. Saudi had 700 bn dollars in their own AT THE SAME TIME...meanwhile Nigeria was producing 2 m bpd for 190 million people then, Saudi was doing five times that for 35-40 million people.

That is why we should do what China is doing. Not rely on oil and boast when they discover oil in our backyard.

Propaganda no dey last if u no show economic workings...

BAT/APC should just QUIT!

Nope and fg is the problem we have in Nigeria. They hate the poor masses so much.

nairalanda1:
And our revenue really cannot do a subsidy of 7000 dollars per head without us going into serious debt.

Subsides won't work.

Do you think the Saudis will be able to afford subsidies...
If they are stealing. left and right the way their counterparts in Nigeria are stealing ?
The problem of Naija is not subsidy. Its endemic corruption at all level...
Let BAT go and learn from the Argentina President how to
tame inflation, slash poverty, and balance a century-old fiscal imbalance
in six months defying all experts that said it was impossible...

Willie2015:
Do you think the Saudis will be able to afford subsidies...
If they are stealing. left and right the way their counterparts in Nigeria are stealing ?
The problem of Naija is not subsidy. Its endemic corruption at all level...
Let BAT go and learn from the Argentina President how to
tame inflation, slash poverty, and balance a century-old fiscal imbalance
in six months

Oga, Saudi is earning from. 11 m BPD..we are.at.1.7 m BPD. They have 40.milliom , we got 220 million

Person wey dey earn 100000 naira and has 5 kids and no side hustle won't have the lifestyle of someone who earns 1 million monthly,has two kids and a side hustle bringing in 200000 monthly.

Oga you have no argument. This is not pdp vs apc..this has been our reality as a nation




That's why.

nairalanda1:
Borrowing in Nigeria will never stop. Even if Obi won last year...and yes, he was better than tinubu and atiku.

80% of NIgeria's revenue comes from oil. To have sufficent money to run the budget without borrow borrow...we would hav e to have oil being sold at 140 dollars or more per barrel.

The only time that happened was in 2008. That was when Yaradua was ordering government agencies to return excess money in their account at the end of that year.

The only way we can stop borrowing is to increase our non oil revenue and that can be done by being an industrial nation that exports industrial goods...because we can set our prices, and raise our income how we like.

But that means things like allowing discos set price for power, improving tax collectionl, and actually fighting corruption which most of you no go gree for.

The average Nigerian is ready to get prepaid meters so that they will be billed based on consumption but guess the ones that frustrated the implementation of prepaid meters for housing units in order for them to continue their shadiness?

You guys hailed Buhari for 8 solid years that he was revamping the infrastructural landscape but here we are today.

If you are want to absolve the leaders that you secretly support of any blame and blame the citizens instead it would be best for you to come out with your full chest and support your APC. There’s no harm in doing that. It os cowardice to continue to support them whilst disguising as though you don’t support them.

If you expect orderliness in a system where leadership is defunct, you are not telling yourself the truth. The reason why leaders are selected in a community is because it’s not possible for a multi-diverse nation of people to govern themselves successfully without good leadership. These leaders are sharing money in billions and trillions, why should they not be judged?

If a leader fails, you should be honest to admit that he is failing rather than make excuses. The state has entrusted powers to the leaders to ensure that they put in place policies to ensure that things work and they made promises. If they can’t meet up don’t blame someone else.

Now subsidy is gone right and Nigerians have been paying the market rate right? So in your opinion, are we having an optimal downstream sector when the only private operator is having issues everyday with the regulators?

Lookmun:
The average Nigerian is ready to get prepaid meters so that they will be billed based on consumption but guess the ones that frustrated the implementation of prepaid meters for housing units in order for them to continue their shadiness?

You guys hailed Buhari for 8 solid years that he was revamping the infrastructural landscape but here we are today.

If you are want to absolve the leaders that you secretly support of any blame and blame the citizens instead it would be best for you to come out with your full chest and support your APC. There’s no harm in doing that. It os cowardice to continue to support them whilst disguising as though you don’t support them.

If you expect orderliness in a system where leadership is defunct, you are not telling yourself the truth. The reason why leaders are selected in a community is because it’s not possible for a multi-diverse nation of people to govern themselves successfully without good leadership. These leaders are sharing money in billions and trillions, why should they not be judged?

If a leader fails, you should be honest to admit that he is failing rather than make excuses. The state has entrusted powers to the leaders to ensure that they put in place policies to ensure that things work and they made promises. If they can’t meet up don’t blame someone else.

Now subsidy is gone right and Nigerians have been paying the market rate right? So in your opinion, are we having an optimal downstream sector when the only private operator is having issues everyday with the regulators?

I'm.not a buhari or tinubu fan.

Please.dont abuse me son.

nairalanda1:
I'm.not a buhari or tinubu fan.

Please.dont abuse me son.

Yes you sound like one and it’s not bad to admit it. Every time people point out lapses in elected officers, you will always rope in those who don’t have the opportunity to do things differently.

You have consistently opined that “subsidy is bad,” but we have shown you that subsidy is not necessarily a bad thing if it is managed with integrity and the government is serious about development.

It became unsustainable in Nigeria because of massive corruption as Buhari was not aware of his surroundings let alone the number of valid/invalid fuel importation claims that he was supposed to pay for as well as negative economic tactics that put the economy on a long thing.

That’s why it became very unsustainable to the extent that we had to use 90% of revenues to cushion it.

Lookmun:
Yes you sound like one and it’s not bad to admit it. Every time people point out lapses in elected officers, you will always rope in those who don’t have the opportunity to do things differently.

You have consistently opined that “subsidy is bad,” but we have shown you that subsidy is not necessarily a bad thing if it is managed with integrity and the government is serious about development.

It became unsustainable in Nigeria because of massive corruption as Buhari was not aware of his surroundings let alone the number of valid/invalid fuel importation claims that he was supposed to pay for as well as negative economic tactics that put the economy on a long thing.

That’s why it became very unsustainable to the extent that we had to use 90% of revenues to cushion it.

That shows you don't get what I say.

Good evening. It was nice interacting with you. But I don't talk with people who want to abuse me.

Come back when you get it.

nairalanda1:
Oga, Saudi is earning from. 11 m BPD..we are.at.1.7 m BPD. They have 40.milliom , we got 220 million

Person wey dey earn 100000 naira and has 5 kids and no side hustle won't have the lifestyle of someone who earns 1 million monthly,has two kids and a side hustle bringing in 200000 monthly.

Oga you have no argument. This is not pdp vs apc..this has been our reality as a nati

That's why.

Saudi can afford it ...
Cos they are effective and efficient with their resources...
and also have a working system...
U should not have 5 kids when u now ur income is poor....
U can also become a pauper when u fail to do the right things even...
with an income of N1m with 2 kids...and side hustles...
Nigeria can decide to be better and ramp up production 3m barrels per day
Or still decide to sleep and let population continue to explode without deliberate policies.
Its a function of how effective and efficient you are with your resources...

nairalanda1:
That shows you don't get what I say.

Good evening. It was nice interacting with you. But I don't talk with people who want to abuse me.

Come back when you get it.

Apologies if I tagged you wrongly but what I’m trying to say is that you assume that everything in Nigeria is supposed to follow a particular model whilst ignoring rentier interest forces that are in many cases stronger than these established models.

I don’t think Nigerians underpay for electricity and if you do, you can show your workings. When the prepaid metering system came on board, it was not the people that rejected it, but it was the people that wanted to continue their shadiness that would not make it available.

Now subsidies are supposedly gone, but like we had said from the onset, there are interest that would not just go without a fight. You wouldn’t see regulators actively waring against something as important and prideful as a world class refinery that recently exported jet fuel to the US in a country that means business. It was obvious from the onset when they claimed that Dangote fuel quality was poor.

These are the issues beyond the argument of subsidy. We all agree that subsidy is bad for Nigeria at this time for obvious reasons but will subsidy removal automatically weed out the rentier interests? No.

We are all seeing the drama playing out. How that a private refinery is able to ensure that we get fuel for N800ish. This is not government but a private player. Then we now began to see the outcries of the guys that are importing and before we knew it, the invisible hand moved and the result was fuel prices of over N900 with the assurance that it would be N1,000 per liter soon.

That does this tell us? It tells us that if fuel is refined efficiently here in Nigeria, we don’t have to pay through our noses. The reason that we pay in excess apart from subsidy (which is now gone supposedly) is that there is either inefficient production or a leaning towards importation and there is no incentive to end the importation.

We are saying that the negative effects of unnatural price hikes in PMS and leaning towards importation when we have substantial refining capacity being ignored is that it tends to automatically and immediately escalate prices of goods, causes inflation, increase in transportation costs, lower standards of living and higher costs of living, fall in the value of the naira, increased interest rates for small businesses and ultimately the shutting down of business and hopelessness.

Chucks13:
I pray one petrol no longer important to humanity especially vehicles because the headache of petrol is annoying and all marketers bitch can rest that day.

Everytime petrol this petrol that.

do you want Tinubu to die? Tinubu prefer petrol than life.

nairalanda1:
So, you want to sell something that costs N700-800 to make one liter at N100 per liter?

Don't complain when our refineries become scrap again.

You won't run your business like that.

which refinery are you talking about? Do you have any refinery that is functioning?

nairalanda1:
Look, we don't earn enough money. All the corruptuion in NNPC and elsewhere makes the limited money we earn fall even more in amount.

That's what most of you on this site do not get. Na to call people agbado and oppressor you know. Meanwhile, if we removed corruption totally at best we would get something like 50-70 trillion naira per annum.

Meanwjile we need budgets starting at 100 trillion.

NO I AM NOT DEFEDING TINUBU.

We are so broke . Yaradua gave us a forex reserve of 60 bn dollars. Saudi had 700 bn dollars in their own AT THE SAME TIME...meanwhile Nigeria was producing 2 m bpd for 190 million people then, Saudi was doing five times that for 35-40 million people.

That is why we should do what China is doing. Not rely on oil and boast when they discover oil in our backyard.

when you have a president that is well known corrupt politician, a Senate president that is also a corrupt criminal. How do you expect foreign investors to come to the country.
Since Tinubu take over no single foreign investor that visit this country. When we said vote people with credible track record you guys will prefer to vote base on religion or tribe.

Bringbackmandat:
do you want Tinubu to die? Tinubu prefer petrol than life.

Do you read my statement at all? Do you ever understand futuristic statement at all? Pls what brought Tinubu into this can you tell me?

I only said I can't wait for the day we will be free from.petrol this petrol that headache, meaning electrical power to replace petrol.


Thanks...

nairalanda1:
Look, we don't earn enough money. All the corruptuion in NNPC and elsewhere makes the limited money we earn fall even more in amount.

That's what most of you on this site do not get. Na to call people agbado and oppressor you know. Meanwhile, if we removed corruption totally at best we would get something like 50-70 trillion naira per annum.

Meanwjile we need budgets starting at 100 trillion.

NO I AM NOT DEFEDING TINUBU.

We are so broke . Yaradua gave us a forex reserve of 60 bn dollars. Saudi had 700 bn dollars in their own AT THE SAME TIME...meanwhile Nigeria was producing 2 m bpd for 190 million people then, Saudi was doing five times that for 35-40 million people.

That is why we should do what China is doing. Not rely on oil and boast when they discover oil in our backyard.

WE MUST DEMAND THAT NNPC ACCOUNT'S SHOULD AUDITED FROM TOP TO BOTTOM,BECAUSE WE CAN'T JUST ALLOW SOME FEW INDIVIDUALS TO CART AWAY BILLION OF DOLLARS FOR THEMSELVES AND THEIR FAMILIES.

THESE WICKED INDIVIDUALS LEAVES AMONG US,THEY GO ABOUT WITH ESCORTS,OWN LUXURY MANSIONS HOME & ABROAD.

JUST IMAGINE SAUDI ARABIA WITH HUGEEEEEE BILLION OF DOLLARS IN THEIR RESERVE YET NIGERIA GOVERNMENT ARE SUBSIDISING BILLION OF NAIRA FOR PILGRIMAGES.

IF NIGERIA GOVERNMENT HAD INVESTED ALL THE PROCEEDS FROM THE CRUDE WELL EVEN DIVERSIFY THE ECONOMY DECADES AGO,I DON'T WE WOULD BE THIS BEHIND AT ALL.

we suppose make this men pay dearly for all the atrocities committed against the people of 🇳🇬

Dotherightthing:
How many times shall we tell you dull*rds that Nigeria was borrowing money to pay subsidy

Totally unsustainable!

Now they are borrowing money to steal, and it’s sustainable abi ?

Fulish boy !

Lookmun:
Yes you sound like one and it’s not bad to admit it. Every time people point out lapses in elected officers, you will always rope in those who don’t have the opportunity to do things differently.

You have consistently opined that “subsidy is bad,” but we have shown you that subsidy is not necessarily a bad thing if it is managed with integrity and the government is serious about development.

It became unsustainable in Nigeria because of massive corruption as Buhari was not aware of his surroundings let alone the number of valid/invalid fuel importation claims that he was supposed to pay for as well as negative economic tactics that put the economy on a long thing.

That’s why it became very unsustainable to the extent that we had to use 90% of revenues to cushion it.

not like he sounds like one. He is one.

He thinks people here can’t see through him.

Na old agbadorian wey no get sense.

Anywhere he hears subsidy on nairaland, he comes out and starts polluting this space with saliva 😁

cucumbar:
Now they are borrowing money to steal, and it’s sustainable abi ?

Fulish boy !

You are so d*ft

What a shame!

Dotherightthing:
How many times shall we tell you dull*rds that Nigeria was borrowing money to pay subsidy

Totally unsustainable!

You are the dullard here slowpoke. Nigeria was not borrowing to pay subsidy before Tinubu you ignorant fool, what was happening was that NNPC was exchanging crude oil for refined petroleum products, that's why NNPC was the sole importer of petrol during buharis regime.
Stop lying and misleading the public idiot.

coleon:
You are the dullard here slowpoke. Nigeria was not borrowing to pay subsidy before Tinubu you ignorant fool, what was happening was that NNPC was exchanging crude oil for refined petroleum products, that's why NNPC was the sole importer of petrol during buharis regime.
Stop lying and misleading the public idiot.

Shut up!

We were borrowing money to pay subsidy.

Crude swap was one of the means of borrowing.

We sold crude in advance!!

Lookmun:
Apologies if I tagged you wrongly but what I’m trying to say is that you assume that everything in Nigeria is supposed to follow a particular model whilst ignoring rentier interest forces that are in many cases stronger than these established models.

I don’t think Nigerians underpay for electricity and if you do, you can show your workings. When the prepaid metering system came on board, it was not the people that rejected it, but it was the people that wanted to continue their shadiness that would not make it available.

Now subsidies are supposedly gone, but like we had said from the onset, there are interest that would not just go without a fight. You wouldn’t see regulators actively waring against something as important and prideful as a world class refinery that recently exported jet fuel to the US in a country that means business. It was obvious from the onset when they claimed that Dangote fuel quality was poor.

These are the issues beyond the argument of subsidy. We all agree that subsidy is bad for Nigeria at this time for obvious reasons but will subsidy removal automatically weed out the rentier interests? No.

We are all seeing the drama playing out. How that a private refinery is able to ensure that we get fuel for N800ish. This is not government but a private player. Then we now began to see the outcries of the guys that are importing and before we knew it, the invisible hand moved and the result was fuel prices of over N900 with the assurance that it would be N1,000 per liter soon.

That does this tell us? It tells us that if fuel is refined efficiently here in Nigeria, we don’t have to pay through our noses. The reason that we pay in excess apart from subsidy (which is now gone supposedly) is that there is either inefficient production or a leaning towards importation and there is no incentive to end the importation.

We are saying that the negative effects of unnatural price hikes in PMS and leaning towards importation when we have substantial refining capacity being ignored is that it tends to automatically and immediately escalate prices of goods, causes inflation, increase in transportation costs, lower standards of living and higher costs of living, fall in the value of the naira, increased interest rates for small businesses and ultimately the shutting down of business and hopelessness.

In other words you want price controls.

They always end on a sad note

Willie2015:
Saudi can afford it ...
Cos they are effective and efficient with their resources...
and also have a working system...
U should not have 5 kids when u now ur income is poor....
U can also become a pauper when u fail to do the right things even...
with an income of N1m with 2 kids...and side hustles...
Nigeria can decide to be better and ramp up production 3m barrels per day
Or still decide to sleep and let population continue to explode without deliberate policies.
Its a function of how effective and efficient you are with your resources...

Ah grow up my child!

Saudi is as corrupt as Nigeria.

They can afford it because they produce six to ten times as much crude as we do, and for a population of 40 million people

Seriously, read more widely!

nairalanda1:
Ah grow up my child!

Saudi is as corrupt as Nigeria.

They can afford it because they produce six to ten times as much crude as we do, and for a population of 40 million people

Seriously, read more widely!

Corruption Index - Reference Dec 2024

Saudi is ranked 38

Nigeria is ranked 140...

U need critical thinking when u read

No be everything be La cram... La pour

Willie2015:
Corruption Index - Reference Dec 2024

Saudi is ranked 38

Nigeria is ranked 140...

U need critical thinking when u read

No be everything be La cram... La pour

And then again, they have the following

Saudi 40 million people, ten million barrels of crude a day

Nigeria, 220 million, 1.7 million barrels of crude a day

We are not as rich as the Saudis

Grow up, still.

nairalanda1:
And then again, they have the following

Saudi 40 million people, ten million barrels of crude a day

Nigeria, 220 million, 1.7 million barrels of crude a day

We are not as rich as the Saudis

Grow up, still.

Its not about how rich...

Its about effectiveness... efficiency and a working system.... and the right mindset...

Take Nigerian leaders to Saudi as managers ,

They will turn that place to shit hole within 10 years .. and start finding greener pasture in another country...

I can see you have an unteachable mind.

I write no more ...

Willie2015:
Its not about how rich...

Its about effectiveness... efficiency and a working system.... and the right mindset...

Take Nigerian leaders to Saudi as managers ,

They will turn that place to shit hole within 10 years .. and start finding greener pasture in another country...

I can see you have an unteachable mind.

I write no more ...

You are living in denial.

If we want to be richer than Saudi it won't be by running an economy dependent on oil.

Also no good management can overcome the fact that if we remove corruption we still won't earn as much as the Saudis.

Nigeria must do what china and Japan and Korea and Germany do to be really prosperous


If you don't get it, sorry.

nairalanda1:
In other words you want price controls.

They always end on a sad note

If you can point me to anywhere in my post where I advocated for price controls, I’d wait. What I’m saying is that not all prove increases are market driven. Some price hikes are the result of inefficiency in production and some are a function of interest from a rentier system.

nairalanda1:
And then again, they have the following

Saudi 40 million people, ten million barrels of crude a day

Nigeria, 220 million, 1.7 million barrels of crude a day

We are not as rich as the Saudis

Grow up, still.

We are not the only country that had faced poverty before. There are countries that are called Asian Tigers today that were poorer than Nigeria in the 70s.

Mismanagement of resources, defunct leadership and corruption remain the biggest stronghold to our progress. It is leaders not the masses that have been vested with state powers to ensure that behavior is aligned.

These leaders, not the masses, have the authorization to apply punitive measure where necessary, they have the authorization from the state to wield the instruments of coercion to ensure that people fall in line. But if they are not interested in societal transformation but they see leadership as a business of patronage, it would be very unfair to expect that society function properly. It’s just like expecting a jumat service to be conducted orderly when there is nobody leading the way and there is no agenda.

Lookmun:
We are not the only country that had faced poverty before. There are countries that are called Asian Tigers today that were poorer than Nigeria in the 70s.

Jesus H. Christ.

The Asian tigers did a lot of massive industrialization, which is something I scream about here on this site.a lot.

We don't and we refuse to do it. Instead we rely on oil. That is why tinubu is a bad leader.

Lookmun:
If you can point me to anywhere in my post where I advocated for price controls, I’d wait. What I’m saying is that not all prove increases are market driven. Some price hikes are the result of inefficiency in production and some are a function of interest from a rentier system.

You are advocating for subsidies and you call me an oppressor for supporting subsidy removal, and you have chided me for essentially 'advocating we pay more'

Therefore, you want price controls.

LIke most of you on this site, you are not realistic. And anyone who challenges you on that, you get angry with them

I'm not supporting any agbado nonsense. But for an economy to run well, people have to be given the right to make a profit. That includes fuel.

Take it or leave it.

You don't have to like it.

nairalanda1:
Jesus H. Christ.

The Asian tigers did a lot of massive industrialization, which is something I scream about here on this site.a lot.

We don't and we refuse to do it. Instead we rely on oil. That is why tinubu is a bad leader.

I’m glad you’ve called out the actual culprits here.