₦airaland Forum

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.

geoworldedu:
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

Eagleways:
Oga, the trillions they didn't spend because they were avoiding giving us oil at ₦200, WHERE IS IT?

Osidazz19:
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.

themanderon:
I knew you would be here defending rubbish as usual.

Tenses:
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.

Badb0y4lyf:
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.

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.

Tenses:
Trash as usual from extremely deception tinubu laptop boy.

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



Source

Fujiyama:
^^^
Those subsidies had to go because they were distorting the economy - that's what the experts said. Ok.

But nothing on earth can justify an oil exporting OPEC member being in the position Nigeria is currently in. Nothing whatsoever.

I expected the 'honourable' minister of petroleum to give his countrymen regular updates on the progress of local refining capacity - because that's where the solution lies. Instead, he has said absolutely nothing. The latest news is that he has issued new fuel import licences to a favoured few, no doubt - and their vessels have already landed at Apapa with their cargo.

So a war in far away Iran is costing ordinary Nigerians big money at the petrol station pumphead - when this country has its own oil underneath her soil. It makes no sense.

We were told the removal of subsidies would 'spur new investment', 'remove distortions', etc. But Nigerians have not been given any updates on this. Where is the progress update on local refining capacity?

The anti-subsidy people on this platform have gone eerily quiet. They passionately fought the subsidy war and won it - but the peace isn't looking like what they promised. All they do now is speak vaguely about 'industrialization' and 'diversification' but the fire has gone out of them. They are in the same position as those revolutionaries who insisted that Ghaddafi had to go - without a clear plan for the country post Ghaddafi. Is Libya better off today?

The devil is always in the details.

Nigeria is back to import licensing again. Over 40 years ago, Shagari was dragged through the mud (and rightly so) for the disaster that his import licensing regime brought upon this country. BAT has decided to take us back down that path again.

The more things change...the more they remain the same.

Osidazz19:
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.

CaseSensitive:
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 religion 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, we will keep going round and round in circles.

Badb0y4lyf:
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.

Osidazz19:
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.

Kukutente23:
Even casesensitive as a moniker is imported
Practice what you preach!!

Misterone:
Oga has collected lobby money from IPOB. Even with the increment, PMS in Nigeria is still the cheapest in West Africa. Why is this so?
Other countries were paying more than necessary before. Now that there's a global issue, those countries just maintained their prices because the increment was not up to what they were paying before.

Osidazz19:
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.

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



Source

Putinofrussia:
Please sir,what about America that produces almost 10x what Nigeria produces and also has numerous refineries,gas has gone up to $4 from $2 plus.
Nigeria still has one of the lowest price of oil in Africa but the govt should find a way of easing the pain for masses truly.
USA-Israel Iran,stop this war and let the world breath.

Izuchukwu70:
I live in America and the Gas price is the highest in North America. He should look in the mirror.

nairalanda1:
Where have I ever said such about Obi?

And haven't I shown you by my comment why APC is a mess?

It is because you want cheap fuel that you think anyone who says subsidy must go is a Tinubu supporter. Even when I tell ya that I wasn't in 2011 or now.

No party, either the one in government or the one out of it knows what to do..

Even then, vote out APC. If the new people don't perform , vote them out

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



Source