₦airaland Forum

Melchizzedek:
That's 46.5 trillion naira in a year. Almost equivalent to our budget.

Our foreign reserve, their money long. That's less than military assistance to isreal

Dotherightthing:
It's still almost the same on the long run...

And mind you, not everybody earns minimum wage in Nigeria

Omo I'm tired of you guys cos everybody is ffing biased. The way I'm seeing it this country can not get it right.

Savenigeria2023:
Every responsible nation subsidizes something important. Its either energy, agriculture, transport, education, health for the general good of the masses.

The evil we have as government have stolen everything available and taken away every form of available subsidy.

If Nigerians don't fight back, the masses will all die painful but avoidable deaths

Do you know how much subsidy hows into agric input.....do you know how much subsidy goes in to gas so you can have it cheap as you are having it now......do you have any idea how much subsidy goes into electricity......are you aware hiv antirtroviral drugs are being subsidised same as vaccinations such as polio and meningitis as well as COVID,now the govt is talking about subsidizing cancer and kidney care........you people who have absolutely no idea how your country runs expect us to trust your judgement on who we should have as president,obi,atiku,amaechi and the likes.

benardtotti:
Go back and read the article. It was spelt out in black and white what the usa subsidy covers .

What does the fuel subsidy in Nigeria cover?

Lithiumite:
Do you know how much subsidy hows into agric input.....do you know how much subsidy goes in to gas so you can have it cheap as you are having it now......do you have any idea how much subsidy goes into electricity......are you aware hiv antirtroviral drugs are being subsidised same as vaccinations such as polio and meningitis as well as COVID,now the govt is talking about subsidizing cancer and kidney care........you people who have absolutely no idea how your country runs expect us to trust your judgement on who we should have as president,obi,atiku,amaechi and the likes.

Kindly tell everyone how your country runs

Na Nigeria wey no one has social security is supposed to dodge subsidization, right?

I always ask: what is our benefit of being OPEC citizens?

Some beings will tell u the country is poor.
From when and since when till when?

Go and ask Cameroon before validating your noise

BlackViper:
https://www.theguardian.com/environment/2025/sep/09/fossil-fuels-subisidies-study

Wow...is nairalanda1 reading this?

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

It's obvious you didn't read or probably lack understanding.
Pls go and read again.

Foóls.. and same US through the Bretton institution told you subsidy is bad and you accept just so to keep your citizens as third class people in the world.. and make them accept you..

Kelklein:
Foóls.. and same US through the Bretton institution told you subsidy is bad and you accept just so to keep your citizens as third class people in the world.. and make them accept you..

US pays production subsides. Nigeria was doing consumption subsidies

Consumption subsidies are very wasteful and worsen debt. Production subsides help to improve production of refined product and make the sector profitable

Fos bless you for this apt response sir. Was actually about responding in like manner when I saw this. I won't abuse the guy cos no man is an island of knowledge.

lionshare:
Represent $31B as a percentage of the U.S. annual budget, then compare $4.5B as a percentage of Nigeria’s budget for better perspective.

Dotherightthing:
Ollle

There is no free lunch in life.

Nigerian government does have money for subsidies. How can you be borrowing money to pay subsidy

What are the reasons for borrowing to begin with?

Have you heard of the 'word duplication of office' in government and how it affects countries that practice it?

Have we fought corruption to a halt before crying that Nigeria is broke?

Have we stopped our political office holders from spending lavishly on frivolities like convoy cars and budget paddling.

Have we placed our political office holders on minimum wage so that politics become less lucrative to people without prosperous ideas and the semi-illiterates that we currently have.

It is after we have enacted all the aforementioned and still can't finance subsidizing basic things that you can come and tell us that Nigeria or the government is broke.

lionshare:
Represent $31B as a percentage of the U.S. annual budget, then compare $4.5B as a percentage of Nigeria’s budget for better perspective.

I did something similar
31 billion dollars = 0.4% of USA BUDGET OF 2025(7.3 TRILLION DOLLARS)
Nigeria = 2% of our budget

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

You are very right Genius since both countries are on the same level economically. Make una dey use una head even if it’s once annually na🙏
So you think the largest economy in the world would be affected because it spends that amount annually? Please be using that thing once in a while, It’s not there for decoration.

DiamondsAreFore:
1. I didn't create the thread

2. You seem to lack serious comprehension skills. I was remarking on the absurdity of petroleum being subsidized for citizens of the richest country on earth, while some of the poorest people on earth had their own subsidy taken away from them even though they probably need it more than the Americans do.

The article did not say it was subsidized for the citizens of United states. Anyone that import oil from the united state will benefit from the subsidy. It is an industry subsidy that benefited shareholders and oil executives.

CaseSensitive:
$31 Billion is less than 1% of America's GDP, absorbing the subsidy is no issue for America. Now compare that to a developing economy like Nigeria spending between 1% - 5% of GDP to service subsidy. Removing it is basic fiscal discipline and common sense if you ask me. Not to mention that in America, the subsidies go to oil and gas companies. Subsidies are consumer-facing in Nigeria so smugglers and mafias benefits way more than the average person, at least not at the level of benefit relative to cost.

Well. The question is, does USA pay subsidies or not?
I have compared both countries budget.
USA pays 0.4% of it's budget to pay subsidies.
Nigeria as of 2021 pays 2% of it's budget to pay subsidies.
If 2% is too much to pay subsidies in Nigeria, why don't we pay 0.4% as subsidies in Nigeria?
It's just common sense.
The bone of contention is the subsidies. If USA is paying it to help it's citizens, why can't Nigeria do the same?

What an earthshaking revelation!

If the almighty USA is subsidizing till date, it therefore means that Nigeria has allowed herself to be led by the nose.

For years on end, the World Bank, the International Monetary Fund (IMF), and other world financial institutions had continued to sell the dummy that the ONLY way to Nigeria's success and becoming an eldoraldo is through the removal of subsidies on petroleum products, electricity and other critical sectors and Nigeria took the poisoned chalice hook, line and sinker.

We have been deceived!

Since the removal of subsidies on virtually everything, Nigeria has continued to nosedive economically which has only led to borrowing and more borrowing for survival.

As for Nigerians, they can't still believe this is Nigeria - the former Giant of Africa!

Nigerians are so traumatized that daily survival requires some special skills of sorts.

"Ordinary food for man nko o, e no dey" -(Original Sufferhead), quoting the legendary Fela Anikulapo Kuti.

Nigeria must extricate itself from this economic neo-colonialism before things go further down south and the time is now.




@hotseat

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

didn't your failed mesuya also said he will remove fuel subsidy?

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

And you forgot to also state the US is the biggest debtor in the world.

A country having the biggest economy doesn’t translate to all Americans being rich.

11.8% Americans are considered as poor , not to talk of those who just get by.

You need to be on ground and you will ask yourself where is the US when you are actually standing on the US ground😄

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

The issue is... If the richest nation on earth can stop subsidy, what is the anger of Nigerians when the government suspended subsidy

siraj1402:
.....and the same USA backing IMF and other monetary bodies keep telling us that we can't progress with subsidy.

Yes cos view people siphon it,some people would imported 1m ltrs claimed 3m ltrs of subsidy

Lithiumite:
Read to understand and don't just run off with sensational headlines like a headless chicken......everyone knows the US govt has been subsidizing production cost for oil prospecting as many explorations aren't as profitable as it is in some other countries or regions......nigerian bonny light is still way cheaper to explore and ship to the US than doing it over there themselves......the subsidy is to the benefit of the oil executives and shareholders.....it's totally different from what we have here where we were subsidizing retail pump prices of petrol......diesel has long been removed from subsidy but we didn't have any rancour as we have been having over petrol .

Apt!

These subsidies allow for new production that would not otherwise occur,” said Collin Rees, US program manager at Oil Change International and the primary author of the new analysis. “They also, to an enormous extent, go to lining the pockets of shareholders and investors and fossil fuel executives.”

Omowale2023:
Well. The question is, does USA pay subsidies or not?
I have compared both countries budget.
USA pays 0.4% of it's budget to pay subsidies.
Nigeria as of 2021 pays 2% of it's budget to pay subsidies.
If 2% is too much to pay subsidies in Nigeria, why don't we pay 0.4% as subsidies in Nigeria?
It's just common sense.
The bone of contention is the subsidies. If USA is paying it to help it's citizens, why can't Nigeria do the same?

There are nuances here that you are not getting. Yes, the US subsidizes but their economy can absorb it easily. Nigeria's economy simply can’t. Bear in mind America borrows in its own currency, but Nigeria borrows in the same US currency being the world trade currency. Common sense would dictate that subsidy dollar means higher borrowing, inflation, and debt service pressure for Nigeria. In 2022, we spent very close to 100% of revenue on debt servicing, that means we were literally borrowing money to pay for subsidy. Where's the common sense in that?

Our subsidies were eating up as much as education, health, and infrastructure budget combined, while fueling smuggling (no pun intended) and corruption. So reducing subsidy isn’t about copying America, it’s about facing our own economic reality.

Savenigeria2023:
Every responsible nation subsidizes something important. Its either energy, agriculture, transport, education, health for the general good of the masses.

The evil we have as government have stolen everything available and taken away every form of available subsidy.

If Nigerians don't fight back, the masses will all die painful but avoidable deaths

Please, this level of ignorance is dangerous to the world. Your education is heavily subsidized. Same goes for healthcare, agriculture and electricity.

NinjaMetahuman:
USA budget - 5.9 trillion dollars
Nigeria budget - 35 billion dollars.


If Nigeria is using 1 million dollars for subsidy on fuel every year, you think anyone would have cared?

But you forget that US print their USD at will for subsidy but will tell other not to because it call Petro dollar for a reason

Please stop this unfair and lame brained comparison.

Don't copy other nations without considering the surrounding circumstances.

USA pays subsidy? Yes, but does the government go cap in hand borrowing money from anywhere to fund it?

Is the subsidy used for common good or going into private pockets?

harjay1986:
But you forget that US print their USD at will for subsidy but will tell other not to because it call Petro dollar for a reason

I know.

Dollar is the biggest American asset. Nothing is backing it.

They don't even need to work. They can just print dollars and buy free things from the rest of the world. Because everyone is just working to provide service for America.

We make their currency standard.

DiamondsAreFore:
1. I didn't create the thread

2. You seem to lack serious comprehension skills. I was remarking on the absurdity of petroleum being subsidized for citizens of the richest country on earth, while some of the poorest people on earth had their own subsidy taken away from them even though they probably need it more than the Americans do.

1. Apologies for referencing you as the OP!

2. From your submission it is either you didn't read the article in it's entirety or you couldn't make the simple deduction that article easily pointed to. Which is that...hmm..the OP even did you a major favour by highlighting a key party of the article on why the US SHOULD NOT be subsidising. The referenced portion among other issues is why Nigeria couldn't keep subsidising! How you reached that your conclusion is befuddling but hey you are free to hold whatever opinion but in a public from you will called to account for such an opinion. These matters have been abundantly trashed here!

3. Once more, apologies for referencing you as the OP because you couldn't have created such an insightful thread! Nahh

CaseSensitive:
There are nuances here that you are not getting. Yes, the US subsidizes but their economy can absorb it easily. Nigeria's economy simply can’t. Bear in mind America borrows in its own currency, but Nigeria borrows in the same US currency being the world trade currency. Common sense would dictate that subsidy dollar means higher borrowing, inflation, and debt service pressure for Nigeria. In 2022, we spent very close to 100% of revenue on debt servicing, that means we were literally borrowing money to pay for subsidy. Where's the common sense in that?

Our subsidies were eating up as much as education, health, and infrastructure budget combined, while fueling smuggling (no pun intended) and corruption. So reducing subsidy isn’t about copying America, it’s about facing our own economic reality.

Very few people actually appreciate the negative economic impact of subsidy on Nigeria! Our economic outlook wasn't bleak but doomed if we continue!

CoronaVirusPro:
Still does not justify the $37 trillion debt.

Nigeria can as welll do same for the next 50 years with such debt, and still grow infrastructure at a tremendous rate.

Total Joke. And who did you think owns most of our debt.

You think Nigeria can borrow her way to prosperity, lol.

[even better, the USA still gives out fuel subsidy while our ancestors in power still beat their hollow chests that they removed subsidy when even their statistics said over 70% of their population is very poor.quote author=lionshare post=136755485] Represent $31B as a percentage of the U.S. annual budget, then compare $4.5B as a percentage of Nigeria’s budget for better perspective.[/quote]