₦airaland Forum

I see the defenders of this government up there insulting everybody instead of providing an answer to a simple and straight forward question.
Their argument is that Nigeria was borrowing to pay subsidy.so if that was the case, how come the borrowing is more now that the subsidy has gone and what exactly is the government borrowing for?
And what about the money saved?
And how come there has not been improvement in power, security and infrastructural developments that we were told will get a boosr once subsidy is gone.
The only thing that the subsidy removal achieved is to make money available for the politicians to loot and nothing else.

WizardOfNG:
Of course it did and the result will be more amplified and visible over time.

It is ony emotional, unintelligent and low-thinking people who cannot realise this. If adoption of fuel subsidy did not destroy Nigeria overnight, why would any sensible person expect it's removal to turn Nigeria into Singapore and Dubai overnight?

It is like asking what good chemotherapy is doing for a cancer patient suffering the debilitation side-effects the treatment causes even as such will lead to remission that can allow the cancer victim to go on and lead a full and productive life.

Embarrassing what critics and haters of the current government of Nigeria come up with.

Oga you are not making sense
All these insults is for what?
Nobody is asking that Nigeria be transformed to Dubai overnight.
We want to see how fuel subsidy removal saved our lives and that of the future generations in the face of mounting debts and borrowing, worsening security and infrastructure.

The problem is not removing fuel subsidy, after all there are bounds to be shocks following a economic restoration.

overall90:
Oga you are not making sense
All these insults is for what?
Nobody is asking that Nigeria be transformed to Dubai overnight.
We want to see how fuel subsidy removal saved our lives and that of the future generations in the face of mounting debts and borrowing, worsening security and infrastructure.

If you see "insults" then it may be your guilty conscience indicating some labels apply to you. Fuel subsidy was not supposed to "save" your lives.

It main purpose was to stop the bankruptcy of Nigeria because we simply did not have the funds to keep it in place. It was choking Nigeria centrally.

WizardOfNG:
Of course it did and the result will be more amplified and visible over time.

It is ony emotional, unintelligent and low-thinking people who cannot realise this. If adoption of fuel subsidy did not destroy Nigeria overnight, why would any sensible person expect it's removal to turn Nigeria into Singapore and Dubai overnight?

It is like asking what good chemotherapy is doing for a cancer patient suffering the debilitation side-effects the treatment causes even as such will lead to remission that can allow the cancer victim to go on and lead a full and productive life.

Embarrassing what critics and haters of the current government of Nigeria come up with.

the subsidy will come back in the future,all this bs epistle some of you write.....I am a stakeholder in this government and some of us know there should not have been a total removal of the fuel subsidy.

Useless tinibu has borrowed more money in 3yrs than buhari n goodluck combined..
Very useless ruler

MI

WizardOfNG:
If you see "insults" then it may be your guilty conscience indicating some labels apply to you. Fuel subsidy was not supposed to "save" your lives.

It main purpose was to stop the bankruptcy of Nigeria because we simply did not have the funds to keep it in place. It was choking Nigeria centrally.

Look at this one.
Guilty conscience as how?
It seems they just recruited you.
We have seen your type before.
You will soon get tired

Ok we don gree. Subsidy removal didnt help. Ask your candidate to campaign to reverse it! Àbí! Mtchew mú mú things

Buccalcavity2:
Ok we don gree. Subsidy removal didnt help. Ask your candidate to campaign to reverse it! Àbí! Mtchew mú mú things

One thing I have come to understand with Nigerians is that many, though conventionally educated, are mentally lazy. Highly so in fact.

They never take time to understand a problem to then note the correct solution to that problem and how it will work solving the problem to include operation and timeline

WizardOfNG:
If you see "insults" then it may be your guilty conscience indicating some labels apply to you. Fuel subsidy was not supposed to "save" your lives.

It main purpose was to stop the bankruptcy of Nigeria because we simply did not have the funds to keep it in place. It was choking Nigeria centrally.

¹What is the main purpose of maintaining religious subsidy then?

Lately Christian pilgrim subsidy has been resumed in addition to the more massive muslim hajj subsidy.

We stopped petrol subsidy to close down SMEs but increased non-productive ones.

Petrol subsidy just happen to be the heaviest and least key to getting leaders reelected. No one can touch what imams and malams who control over 10m active voter's loyalty are getting.

Since removal of petrol subsidy wastage has gone from strength to strength.

nairalanda1:
I didn't want to comment on this thread
I don't like this government. It is corrupt, evil and not the kind of government I want.

But on subsidy removal, it was clear that it should have gone by 2023, infact by 1993

By the way Racoon, congratulations on becoming a Tinubu supporter because it seems you have seen why Tinubu was right to oppsoe subsidy removal in 2012, lol.


But in brief

1. Keep in mind that 80% of government revenue comes from oil money. Always has been for nearly 3 decades.

2. Keep in mind that until this year, for the government to be able to find money for any budget, crude oil had to be over 122 dollars in 2012, 137 dollars in 2017, 130 dollars in 2020. Consider that crude has from 2014 to a few months ago been below 80 dollars per barrel

3. So any funding for subsidy was essentially from borrowing

4. Infact Buhari was paying for subsidy by massive external borrowing against our forex revenues and also by ways and means.

5. Also the PIA passage in 2021 essentially meant that subsidy was on the way out


6. The above left us with a huge debt which Tinubu had to remove subsidy to remove the pressure on the budget

As at auguat 2022, 97% of revenue was going to debt service.

7. To bring back subsidy now means government taking money from education, health and so on to pay for the subsidy

8 Add the fact that high oil prices means that subsidy costs will be very high for the foreseeable future.

9. So that means more loans to cover the money taken from other parts of the budget and to apend on subsidy

10 GEJ, wanted to remove subsidy for the above reasons

In 2011 ,rising oil prices also were pushing costs of subsidy up. Massive smuggling was also doing same

Had subsidy gone then, it would have stabilised the economy. But as we know and as raccon would say, Tinubu and Buhari deceived Nigerians , so subsidy stayed and when oil prices fell in 2014, borrowing commenced to maintain it with the occasional paetial removal to keep costs down.


And here we are

What convinced me to stop supporting subsidy in 2012 was the fact that we were spending insane amount to fund the subsidy then. That is what woke me up.

I don't like Tinubu, and if Tinubu brings back subsidy, our debt would be triple what it is now in a few years. If not worse.

P.s .Anyone calling me apc misses the point.

What have you got to say about religious subsidy remaining and even increasing but productive petrol subsidy having to go?

Yet you say subsidy was bad.

Sibrah:
What have you got to say about religious subsidy remaining and even increasing but productive petrol subsidy having to go?

Yet you say subsidy was bad.

Subsidy is bad man. I don't support any useless politicians and you are free to think I support Tinubu, but subsidy is bad

I have read enough over the past fourteen years to convince me

I have explained why . If you want to ignore it and call me agbadoe , fine. I don't care.

nairalanda1:
Subsidy is bad man. I don't support any useless politicians and you are free to think I support Tinubu, but subsidy is bad

I have read enough over the past fourteen years to convince me

I have explained why . If you want to ignore it and call me agbadoe , fine. I don't care.

You dodged the actual question. Religious subsidy is useless yet was maintained and has increased since 2023 when productive petrol subsidy was kicked out. We cannot manage one but can manage the other so well.
Talk about it instead of taking some corn status.

Buccalcavity2:
Ok we don gree. Subsidy removal didnt help. Ask your candidate to campaign to reverse it! Àbí! Mtchew mú mú things

If not for ekosodin you will know having a candidate is not a must. I can decide to support and empty pot of rice if i like.

Sibrah:
You dodged the actual question. Religious subsidy is useless yet was maintained and has increased since 2023 when productive petrol subsidy was kicked out. We cannot manage one but can manage the other so well.
Talk about it instead of taking some corn status.

Look, get off my mentions ok. I am not a Tinubu supporter, and I am.not an Obi supporter

I stand by what I read. And I don't care for your rhetorical questions.

Plus you don't even know what prodicitive subsidy is anyway

Yes it did and although it takes a while for the full benefits of an over 60 years mistake to flow through, continuing to pay subsidy it in its current form, through borrowings was a path to bankruptcy for Nigeria.

PBAT is to be commended for planting trees for generations while knowing he will or might not sit under its shade.

Save for getting our own Traoré, PBAT and his team are what 9ja needs now.

Subsidy intention is good in a normal country but Nigerians greed and dishonesty makes it unworkable.

Racoon:
https://dailytrust.com/nigeria-daily-did-removing-fuel-subsidy-really-save-nigeria/?fbclid=Iwb21leARNwWBjbGNrBE3BTGV4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHn_dvp7Eb6LbP8wO6jbxbu3p3rp3azb5M8wjwWup4b7OajuTKauG1aNqKSP__aem_vCdot8X5nPlYDPkkuK90Lw