₦airaland Forum

KnowledgePower7:
While Nigerian youths are waking up every 7 am to make animal noises with Jerry Eze

Haha... You that you are not making animal noises in the morning, how well have you faired?

victorazyvictor:
Wow! Thanks.
I like your response.

....but, is it not supposed be the higher you go, the lighter it come? (Physics: Upthrust principle)

it depends on what you mean by the higher you go the lighter it becomes, if it's about fuel needed to launch in space, of course you need tremendous amount of fuel to get a rocket of the launch pad, before launch the rocket weighs lots of tons, but few minutes after launch half of the weight is lost because rocket engines consumes Olympic size swimming pool of fuel every half a minute, it's like burning more than 60,000 liters of fuel every minute, imagine needing that insane amount of fuel for lift off, and it takes an average of 8mins to reach space, low earth orbit. Most powerful Space transport system (STS) like the space shuttle, and Orion rocket uses external solid rocket boosters which produces a combine thurst of 6 million pounds of thurst.

dem never land for moon before

nairalanda1:
LOL...it's like you guys only see what you want to see

Subsidy removal on power and petrol would mean more investment would flow into both sectors...which would fuel their growth, and by extension...an industrialized exporting NIgeria...which exports manufactured goods and services, and then prosperity

No nation , no strong nation grows by consumption subsides.

Read my posts, on this site, slowly.



Because people like you want government to share money, and yes, your government in turn shares money. Which even worsens corruption because he who is close to the sharing will steal

Also most of you do not want industrailzation...you want to go to university to get degree to work in airconditioned office. You refuse to pay your power bill...most of you, because poor light, and you advocate for consumption subsides on power, which prevents investment in electricity and thus industrializtion

You vote for people like tinubu , not a real productive leader. That is how you vote against your interest...you want your country to be like Saudi , not like China or germany.

You assume subsidy removal leads to investment. It leads to price hikes. Capital flows to where returns are highest. That's not Nigeria's manufacturing sector, that's oil extraction, telecoms, and banking. Industrialization requires protectionism, state investment, and debt restructuring and land reforms. None of which any Nigerian president is willing to do but the ability is definitely there. And most industrial and Industrialising nations do have subsidies on food, education, transportation and then some. Subsidy is a tool not a miracle solution.

What makes you think I would vote for tinubu or the other crooked politicians? None of them or their parties have an ideological mission to improve this country. They just want to steal the oil money.

And yes you are right. I do want to go to university to get degree to work in air-conditioned office. I want to be able to able afford a house of my own. I want to be able to buy food and water without emptying my pocket. I want constant power so I can do my work and be productive and I want everyone in this country to have all this and more. These are our human rights and any government than can't provide them needed because disgraced and kicked out. We can't have better living conditions if we do not build capacity and we can't build capacity without industrialisation and we can't industrialise with leaders who have no incentive too. Who built a solar grid for themselves so they don't have to deal with the mess they caused.

SeizeTheMemes:
You assume subsidy removal leads to investment. It leads to price hikes. Capital flows to where returns are highest. That's not Nigeria's manufacturing sector, that's oil extraction, telecoms, and banking. Industrialization requires protectionism, state investment, and debt restructuring and land reforms. None of which any Nigerian president is willing to do but the ability is definitely there. And most industrial and Industrialising nations do have subsidies on food, education, transportation and then some. Subsidy is a tool not a miracle solution.

Right, so I want you to listen to me this time

A subsidy on fuel, to the point where we are able to pay N200 per liter of fuel, would cost the budget 17-18 trillion, assuming we consume 60 million liters per day

Since no budget has been passed for the thing, and since oil windfall is expected to be around 9 trillion and since we are still paying off debts ...again....because we rely on oil, and oil prices are not high enough to pay for all we need, before corruption and looting come in to make things worse

Money, therfore , would be taken from other sectors of the budget and replaced with more loans, which would make matters even more worse than they are now.

We have repeated this over and over again over the years

Higher oil prices means subsidy costs go up, which means more of our budget goes on paying subsides, and more borrowing to fill the hole there

That is why you are totally wrong to think I am arguing for any interests, or corrupt people, or advocating suffering.

It's kind of funny, the way some of you think. Try to see the big picture, man.

omoredia:
Adeboye could protests during GEJ time because GEJ was not a yoruba man. Thats how tribalistic these people can be.

I hope you are in good state of mind?

nairalanda1:
Right, so I want you to listen to me this time

A subsidy on fuel, to the point where we are able to pay N200 per liter of fuel, would cost the budget 17-18 trillion, assuming we consume 60 million liters per day

Since no budget has been passed for the thing, and since oil windfall is expected to be around 9 trillion and since we are still paying off debts ...again....because we rely on oil, and oil prices are not high enough to pay for all we need, before corruption and looting come in to make things worse

Money, therfore , would be taken from other sectors of the budget and replaced with more loans, which would make matters even more worse than they are now.

We have repeated this over and over again over the years

Higher oil prices means subsidy costs go up, which means more of our budget goes on paying subsides, and more borrowing to fill the hole there

That is why you are totally wrong to think I am arguing for any interests, or corrupt people, or advocating suffering.

It's kind of funny, the way some of you think. Try to see the big picture, man.

Sir, for the 6 years while GEJ was President and we had petroleum subsidy, the price of petrol was #87 per liter. Why was Nigeria not accumulating this 17 trillion per year debt you have projected? What this administration did by subsidy removal is like removing life support from a patient without first stabilizing him. The government went from helping the citizens to gaining from the already imporvirished citizens.

The biggest losers are the working class. The price of everything increased while income remained the same. The only people that gain were those in government and NNPCL because they don't have those loses from subsidy anymore. Marketer also gained because they now sell for higher margins. In fact, only wealthy Nigerians gained, including those who were able to put resources together to go into refinary .
An average Nigerian is yet to see the dividen of subsidy removal . Not thet we don't know where the money is going,

sonnie10:
Sir, for the 6 years while GEJ was President and we had petroleum subsidy, the price of petrol was #87 per liter. Why was Nigeria not accumulating this 17 trillion per year debt you have projected? What this administration did by subsidy removal is like removing life support from a patient without first stabilizing him. The government went from helping the citizens to gaining from the already imporvirished citizens.

The biggest losers are the working class. The price of everything increased while income remained the same. The only people that gain were those in government and NNPCL because they don't have those loses from subsidy anymore. Marketer also gained because they now sell for higher margins. In fact, only wealthy Nigerians gained, including those who were able to put resources together to go into refinary .
An average Nigerian is yet to see the dividen of subsidy removal . Not thet we don't know where the money is going,

Let me tell you something about that 87 naira per liter

in 2011 subsidy costs were three times that in 2010. GEJ tried to remove subsidy but Nigerians said no.

So subsidy spending continued but at a higher rate than usual because of high oil prices raising the cost of subsidy.

The result was more borrowing and more debt and when oil prices fell, GEJ had to borrow money to pay salaries because the subsidy payments were not covering the losses they were meant to cover.

And that 87 naira was not universal o. You only got it in NNPC stations if you were willing to queue. maybe major marketers. Independent marketers were selling as high as 185 in the North and 230 in the South East.

And GEJ left office owing subsidy payments which took the Buhari admin five years to clear.

All the above would have been avoided if GEJ had removed subsides as intended in 2012.

So stop waving the 87 naira as an achievement. It wasn't. And it also implies that you were backing Tinubu then.

Keeping subsidy since 2012 led to the situation in 2022 when 97% of our revenue was paying for debt.

See thing about subsidy when oil prices are high. The cost of paying for subsidy also rises, which means that governments have to borrow, and even then it isn't enough at all at all.

That's why I don't support subsidy at all. I saw what happened when GEJ tried to make Nigerians happy.

Tinubu is a bad leader, but his removing subsidy was the cumulative effect of decades of not removing it. We had been warned as early as 1993 and we said no

Moon indeed

They have reached orbit and will stay there for 24hrs to test everything before heading for the moon. It is a 4 days journey.

This moon far oo

maasoap:
NASA! I hope you know people who own NASA.

Please, who are the people that own NASA

ajailer:
I am talking about people who were watching the moment live and still choosing to call it AI.

Live? May be they watched the clip after the launch

nairalanda1:
Right, so I want you to listen to me this time

A subsidy on fuel, to the point where we are able to pay N200 per liter of fuel, would cost the budget 17-18 trillion, assuming we consume 60 million liters per day

Since no budget has been passed for the thing, and since oil windfall is expected to be around 9 trillion and since we are still paying off debts ...again....because we rely on oil, and oil prices are not high enough to pay for all we need, before corruption and looting come in to make things worse

Money, therfore , would be taken from other sectors of the budget and replaced with more loans, which would make matters even more worse than they are now.

We have repeated this over and over again over the years

Higher oil prices means subsidy costs go up, which means more of our budget goes on paying subsides, and more borrowing to fill the hole there

That is why you are totally wrong to think I am arguing for any interests, or corrupt people, or advocating suffering.

It's kind of funny, the way some of you think. Try to see the big picture, man.

I'm understanding what you're saying but I feel your missing the forest for the trees. Like I said subsidy is a tool. A tool is only as good has it's wielder. I have no issues with subsidies or their removal. What I have issues with is the lack of planning. Removing subsidy with no plan to build production is meaningless and only serves to squeeze out whatever people already benefit from and move the whole of that money to the rich elite.

Your telling me the government can't subsidy but that isn't the only thing leaking money. The ajaokuta steel mill has being eating trillions for years and it produces no steel. Why don't you argue to change that and numerous other such projects than focusing on subsidy, something that the lives of millions in a decrepit country slightly more bearable? The problem is not subsidies but a government that has been a blackhole of incompetence and selfishness to which not matter of irrationality can escape.

Finances are secondary to the means of production.

https://guardian.ng/news/refineries-ajaokuta-steel-fail-revival-efforts-despite-n6-5tr-spent-in-10yrs/

SeizeTheMemes:
I'm understanding what you're saying but I feel your missing the forest for the trees. Like I said subsidy is a tool. A tool is only as good has it's wielder. I have no issues with subsidies or their removal. What I have issues with is the lack of planning. Removing subsidy with no plan to build production is meaningless and only serves to squeeze out whatever people already benefit from and move the whole of that money to the rich elite.

Your telling me the government can't subsidy but that isn't the only thing leaking money. The ajaokuta steel mill has being eating trillions for years and it produces no steel. Why don't you argue to change that and numerous other such projects than focusing on subsidy, something that the lives of millions in a decrepit country slightly more bearable? The problem is not subsidies but a government that has been a blackhole of incompetence and selfishness to which not matter of irrationality can escape.

Finances are secondary to the means of production.

https://guardian.ng/news/refineries-ajaokuta-steel-fail-revival-efforts-despite-n6-5tr-spent-in-10yrs/

The fact is, briefly, consumption subsides don't work.

And for Nigeria, our major sources of government income are oil from less than 2 million bpd and loans. A subsidy would knock out most of our earnings and lead to problems down the road.

Angola.has subsides. And they are taking money from things like school projects and hospital project to fund it.

But if you want enough cash to pay for subsides , either we pay tax enmasse or we take more loans

Note that i am not defending corruption or bad government. Subsidy is itself a symptom of bad government

Like you talk of production. Our power system is being prevented from making profit because subsides prevent it from setting their prices to make a profit to fix things and attract investment.

I hope you get it

nairalanda1:
Let me tell you something about that 87 naira per liter

in 2011 subsidy costs were three times that in 2010. GEJ tried to remove subsidy but Nigerians said no.

So subsidy spending continued but at a higher rate than usual because of high oil prices raising the cost of subsidy.

The result was more borrowing and more debt and when oil prices fell, GEJ had to borrow money to pay salaries because the subsidy payments were not covering the losses they were meant to cover.

And that 87 naira was not universal o. You only got it in NNPC stations if you were willing to queue. maybe major marketers. Independent marketers were selling as high as 185 in the North and 230 in the South East.

And GEJ left office owing subsidy payments which took the Buhari admin five years to clear.

All the above would have been avoided if GEJ had removed subsides as intended in 2012.

So stop waving the 87 naira as an achievement. It wasn't. And it also implies that you were backing Tinubu then.

Keeping subsidy since 2012 led to the situation in 2022 when 97% of our revenue was paying for debt.

See thing about subsidy when oil prices are high. The cost of paying for subsidy also rises, which means that governments have to borrow, and even then it isn't enough at all at all.

That's why I don't support subsidy at all. I saw what happened when GEJ tried to make Nigerians happy.

Tinubu is a bad leader, but his removing subsidy was the cumulative effect of decades of not removing it. We had been warned as early as 1993 and we said no

I worked in the industry and my memory is that the outstanding subsidy payments owed to the major marketers of that period entered voicemail.

Happy Easter Mr 190

190: