₦airaland Forum

Tibor Nagy was former U.S. Assistant Secretary of State for African Affairs under President Trump (2018–2021)

It's incredible that Nigeria's petrol prices - even with new refineries - have risen more than any other African country's despite its huge oil holdings. Nigerian Govt can't seem to manage anything - it never planned for a petrol reserve. Pathetic!

Tibor Nagy, Former US Assistant Secretary of State for Africa, US Ambassador to Guinea and Ethiopia, long-term US diplomat, Professor Emeritus - Texas Tech University

Source

This failed government has brought ridicule to Nigeria.

The worst part is some Nigerians who don't understand the fraud and corruption going on in the system trying to explain something they don't understand to everyone else on behalf of the government, instead of joining everyone else to demand answers.

The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

The destruction trailing this Tinubu government is unprecedented.

nairalanda1:
The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

Since you know exactly what you're talking about and not just echoing some government propaganda, explain this:

- Oil companies pay for almost all of the drilling cost and take about 40% - 50% of the oil as compensation. Nigeria takes at least 50% of the oil.

- Before Nigeria had a refinery, it will export the oil abroad to be refined at the prevailing oil price, then import the refined petrol. To sell it cheaper to Nigerians, it will pay for the difference in price.

- Today, Nigeria has the capacity to refine all the oil that Nigerians consume locally, so no need to export crude and import petrol.

So without speaking too much grammar, explain very clearly in simple terms, where the N17.6 trillion naira subsidy payment will come from. There has to be some secret we're missing that you know about.

givedemwotowoto:
Since you know exactly what you're talking about and not just echoing some government propaganda, explain this:

- Oil companies pay for almost all of the drilling cost and take about 40% - 50% of the oil as compensation. Nigeria takes at least 50% of the oil.

- Before Nigeria had a refinery, it will export the oil abroad to be refined at the prevailing oil price, then import the refined petrol. To sell it cheaper to Nigerians, it will pay for the difference in price.

- Today, Nigeria has the capacity to refine all the oil that Nigerians consume locally, so no need to export crude and import petrol.

So without speaking too much grammar, explain very clearly in simple terms, where the N17.6 trillion naira subsidy payment will come from. There has to be some secret we're missing that you know about.

So, explain to me first, and I insist, why you should let government set the price of your product or what you sell as a business man

I am not answering your quesiton because it is rhetorical and it doesn't make much economic sense

Also, how could you have supported subsidy removal in 2012, and not support it today? Why mock people like me who have supported it since 2011? Why look at everything through the prisim of politics.? Does everyone who disagree with you have to be a supporter of tinubu?

LOL.

LOL....too many data boys for tinubu and gej on this site...too many people who don't want to seriously discuss how to make nigeria better.



They will all have their eyes opened soon, that supporting any politican who has no plan to take us off oil is a dead end.

If you are calling me a Tinubu supporter, then that means that you don't want to understand what I am saying or why I am saying it.

Also,.Tinubu has to go in 2027..vote in a new person

But if you ask me, they are all the same to me and I will never support them

And Tinubu supporters are hypocrites for supporting subsidy removal now when they opposed it in 2011.

Anyone who doesn't understand why price controls are bad for an economy is not at my level

Dem go soon attack Peter Obi Na the low hanging fruit for urchins be dat

The Us with the largest oil production and largest refineries cannot manage fuel prices. What a clown
The US produce more oil than any other country, the US has more refineries than any other country yet I just paid about 4 dollars for a gallon of low grade fuel for my car this morning.
High grade cost me about 6 dollars over the weekend.

Nigerian government can't manage anything because Nigeria is not a truly sovereign nation - it has never been.

Food? - Imported (Nigeria has arable land that’s more than enough for self sustainability)

Energy? - Imported (Nigeria has crude oil and gas, enough for self sustainability)

Religion? - Imported (Different ethnicity in Nigeria has their belief system until foreign religions took hold and now a major cause of instability)

Language? - Imported (Any Nigerian language spoken in Nigerian schools is vernacular)

Names? - Imported (Athena, Nathan, Chantelle sounds a lot more trendier and woke than Tolulade, Chukwuemeka or Oghenetega)

Steel and machineries? - Imported (Ajaokuta steel plant is still on its knees)

Governmental style? - Imported (Democracy hasn’t done much for the progress of Nigeria)

Until Nigeria reduces reliance on the outside world and revisit the foundation of certain elements, Nigerian government will never be able to manage anything and we will keep going round and round in circles.

who put your mouth for our matter, abeg let us stand on his manhood.

afterall, Obi will never be president is the goal not the development of Nigeria or improvement of life

and some people will be packaging fraud as Lagos builders forgeting that Lagos was Nigerias capital

Olodo people

Going down as the worst government in history yet the proudest

its cool to be proud, but have something to deliver\\


dullards

crestedaguiyi:
who put your mouth for our matter, abeg let us stand on his manhood.

afterall, Obi will never be president is the goal not the development of Nigeria or improvement of life

Obi that can't even improve his own life and that of his people his going to do magic and improve Nigeria.we might as well allow portable to be President then. They are both clowns and can promise you heaven and Earth.

Very uselesssss country, and if you wan talk...on your mandate people will ask you wat is the population of those country compare to Nigeria. Very fooolish set of people

nairalanda1:
The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

Fight smuggling to cub the issue. Why dash governors the money when u dont have any blue print to ensure money is used for social benefits of the entire citizens? It makes no sense that u removed subsidy, dash gobvernors the money and governors and una pallies loot the same money. So, better leave the subsidy make looting continue since we can at least buy fuel cheaper. U removed subsidy but didnt remove looting, makes no sense becus we are suffering now.

Politicians and their relatives including their family members should be banned from Nairaland comments.

You know yourselves and I am talking to you.

It is an insane country. Just like having a farm of various crops ready to be harvested and still complain of hunger.

nairalanda1:
The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

Nairaland1 the oil cabal Bot” if you doubt me create a topic relating to oil, petroleum or subsidy he would miraculously show up quoting Jargons as to why the regime policy on oil and subsidy is the best thing after slice bread.

He should reduce this volume abeg.

agbero chairman only plan on how to refill his newly manufactured bullion vans.if you like vote for him in 2027 without collecting like 16 bullion vans filled with dollar

Chai. That's why I laugh and spit on the heads of the gullibles who believed that if Tinubu should remove fuel subsidy and float the dollar, Nigeria will progress. Padding the dollar-naira rate and offering fuel subsidy were the only two SCHOLARSHIPS we were receiving from the government from time immemorial. We allowed our carelessness and gullibility to let them remove those two scholarships. . Now the people are learning in the hard way right now

May be our leaders is curse or the people ? or which one

All we know here is eat it finish to the bone and even the to the ash

In all honesty, I never imagined that Nigeria can be in all the messy situations that we found it today, never in my widest imagination that Bola Tinubu era will be this messy.

I am very disappointed.

nairalanda1:
The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

You hypocrite.

Did you say Peter Obi is right when he made the same accusation to the federal government.

When PO said lack of strategic planning by the tinubu led government is the reason for the hike in pump price. Did you agree with him?

Because a white man said the same thing PO said earlier on you are nodding your head in agreement like an exhausted agama lizard.

I have told you that PO is way way ahead of you lots. That includes your tinubu.

nairalanda1:
The man is right, but the thing is, we should be planning for a crude oil reserve, not a petrol reserve.

Right, time to annoy gej supporters into calling me tinubu supporters.

1. If we want to subsidise oil to N200 as most people want it to be, we would have to spend 17.6 trillion naira this year.

2.Oil windfall will add some 9 trillion for budget funding. ie reduce dependence on borrowing for budget

3. So, at 60 million liters per day, a subsidy to N200 per liter, would mean that we would pay the above

4. Add smuggling and we would end up spending like 30 trillion

5. Budget is 55 trillion naira

6. That means we would take money from many sectors of the budget and use it to fund the subsidy. And borrow to replace the money to add to our debt.

7. That is why tinubu was WRONG TO OPPOSE SUBSIDY REMOVAL IN 2012...because the same argument applies here. And because of that...we had more and more debt...which forced tinubu to remove subsidy in 2023 (karma does deal with someone).


If after reading the above, you come and call me a tinubu supporter, then that means that there is something the matter with you, not with me

My eyes were opened in 2011. They can never be shut again.

8. Your tinubu and buhari failed by not diversifying the economy. This would have allowed NIgeria to by now have some cash for limited subsides at least.

We agree the government has failed, just have different ways of saying it.

I knew you would be here defending rubbish as usual.

Number one before you start asslicking a white man's trashni be lp but nihgeria does not have the most expensive petrol in Aficadesoite the war.


Pls check facts before dancing asonto.


Nigeria petrol is BTW 1100 to 1300 cos of the war.
CAR, Zimbabwe,Malawi, Sierra Leone, senegal , cameroun, Ghana; south africa etc are more expensive.

The man talking gas is more Expensive than nigeria fuel sells at $ 0.90- 1.10 dollars and in nigeria it's 0.85-0.90 dollars.

Like wish some countries are cheaper than nigeria like Angola, Libya etc.


How can we build reserve when we don't have a working refinery and thise shouting tinubu so he should start building reserve abi? Which product is he going to reserve from. Which refinery?


The guy should look for better things to do.

I strongly believe the U.S will eventually give Tinubu the Maduro treatment.Nonsence APC people and their brainless surporters.Let them take him very fast and put Obi their.Most importantly they should not only take him but also seize all our oil facilities.As we citizenz nor kuku benefit anything from oil.Instead na suffering

Hehehe..
Why is 'Tis-boy' always "Nagging" (Tibor-Nagy)

keemsleek:
Number one before you start asslicking a white man's trashni be lp but nihgeria does not have the most expensive petrol in Aficadesoite the war.


Pls check facts before dancing asonto.


Nigeria petrol is BTW 1100 to 1300 cos of the war.
CAR, Zimbabwe,Malawi, Sierra Leone, senegal , cameroun, Ghana; south africa etc are more expensive.

The man talking gas is more Expensive than nigeria fuel sells at $ 0.90- 1.10 dollars and in nigeria it's 0.85-0.90 dollars.

Like wish some countries are cheaper than nigeria like Angola, Libya etc.


How can we build reserve when we don't have a working refinery and thise shouting tinubu so he should start building reserve abi? Which product is he going to reserve from. Which refinery?


The guy should look for better things to do.

Trash as usual from extremely deception tinubu laptop boy.

Touts fool government. Only thing they know is looting and thugery.

Na economics we go chog administration.