₦airaland Forum

ponziponzi:
A poor country like Nigeria cannot afford to subside consumption of petroleum products. It was foolish and lazy policy to begin with and that should be out of the question.

The 15% tariff is meant to discourage importation of petroleum products and to encourage local investment in downstream sector of the country. It is to allow Dangote and any local refinery to recover their cost and make profit while still selling below the imported price. The argument that he will increase his price by 15% makes no sense. If they do that, they will be selling at the same price as imported products and how will that help them?

Where did anyone say he WILL increase price by 15%? I said he has a band of 15% to increase price. Meaning he CAN increase by price 14.99% just for fun of it and remain competitive.

The whole idea of government is to make life better for the man on the street. Do you people even understand that at all? Smh. Do you know how people are suffering due to the subsidy removal and you think more increases can be justified?

There is "investment in the downstream" already - so how does encouraging more, while imposing tariffs that will eventually discourage exports (because, trust me, other countries are going to tariff us in return) help the country?

koxyz:
You have stated the obvious facts but when those refineries come on stream,we can then start contemplating on imports tarrif.

No sir. We cannot afford to allow free dumping of refined products into our country, we urgently need to build up our foreign reserve.

We cannot afford to spend scarce forex on petroleum imports. Our reserve is about $43billion currently, it's need to get to about $100billion. Take it or leave it.

integrity16:
No sir. We cannot afford to allow free dumping of refined products into our country, we urgently need to build up our foreign reserve.

We cannot afford to spend scarce forex on petroleum imports. Our reserve is about $43billion currently, it's need to get to about $100billion. Take it or leave it.

My dear, what is the essence of having huge reserves and majority of your people wallow in poverty.

Increment in imports tarrif will automatically lead to higher cost of goods and services thereby leading to continuous improvishment of the people

The government can give concessions to those willing to establish refineries in Nigeria this will speed up progress in that sector rather than subjecting Nigerians to unnecessary hardship

koxyz:
My dear, what is the essence of having huge reserves and majority of your people wallow in poverty.

Increment in imports tarrif will automatically lead to higher cost of goods and services thereby leading to continuous improvishment of the people

The government can give concessions to those willing to establish refineries in Nigeria this will speed up progress in that sector rather than subjecting Nigerians to unnecessary hardship

Yes, it would lead to higher cost of good and services, but at the same time this will discourage importation and lead to patronage of local refinery over foreign ones, sustaining jobs in another country at the expense of our own people.

You People like to praise Donald Trump for introducing tariffs to protect capital flight from his country and protect local industries but will turn around criticize your country for doing same.

integrity16:
Errrrrrrm, are you again?

a free man that doesn't need your permission to express himself

Cromagnon:
a free man that doesn't need your permission to express himself

You need my permission to express yourself against my mention. You could have directed your expressions to someone else. Why me?

integrity16:
You need my permission to express yourself against my mention. You could have directed your expressions to someone else. Why me?

cos I have the freedom to reply to whoever the f I want to reply to