₦airaland Forum

nairalanda1:
Yeah, and it is still garbage economics. We can't affoord it, not on a budget deficit, and chronically low oil prices, and massive borrowing.

Plus, for partial subsidy it isn't enough. This was in 2024 when oil prices were not as high as they were this year.

What really angers many Nigerians is government lying that subsidy was gone while we still spent 7.1 trillion, and we don't know what the money was actually used for and who benefited.

Like, put that money towards fixing dilapidated highways and fully modernize at least 1 major government hospital and schools in each geopolitical zone.

givedemwotowoto:
What really angers many Nigerians is stating that it was gone while we still spent 7.1 trillion and who benefited.

Like, put that money towards fixing dilapidated highways and fully modernize at least 1 major government hospital and schools in each geopolitical zone.

Which is why i oppose subsidies. BECAUSE it takes away money from other parts of the budget and leaves us with unfinished projects and debt.

LOL..and people abuse me for holding that view.

nairalanda1:
Which is why i oppose subsidies. BECAUSE it takes away money from other parts of the budget and leaves us with unfinished projects and debt.

LOL..and people abuse me for holding that view.

For both proponents and opponents of subsidy, the reality is that there was fraud in the system. It's either you fight the fraud and eliminate the fraudulent payments, or push the burden to the people and deal with their wrath.

There is still fraud in the system. I think Government is manipulating Dangote prices, I think Nigerians should be paying cheaper than they are currently, and I think close to election time, petrol prices will fall mysteriously.

givedemwotowoto:
For both proponents and opponents of subsidy, the reality is that there was fraud in the system. It's either you fight the fraud and eliminate the fraudulent payments, or push the burden to the people and deal with their wrath.

Consumption subsides always get fraud ridden. As seen in America with certain welfare programs that trump is trying to investigate.

That's why it;s better to let there be no subsides and let profits be made. People like doing things for money, and no one wants government setting your prices.

nairalanda1:
Consumption subsides always get fraud ridden. As seen in America with certain welfare programs that trump is trying to investigate.

That's why it;s better to let there be no subsides and let profits be made. People like doing things for money, and no one wants government setting your prices.

You seem to trust the government though. You said the subsidy payments were in the open, I don't see the same. I see lies, deception, lack of transparency and so on.

givedemwotowoto:
You seem to trust the government though. You said the subsidy payments were in the open, I don't see the same. I see lies, deception, lack of transparency and so on.

Considering that I said that the decision to pay 7.1 trillion naira was bad for our economy, how can I then trust the same government?

I mean, seriously man, what kind of thinking is that?

How can I trust a government that is paying subsides Nigeria can't afford?

Subsidy is far more than that amount

N7tn can't be the return of subsidy

femi4:
Subsidy is far more than that amount

Eggsactly. Far far more...but government did pay the oil industry 7.1 trillion naira between oct 2023, and april 2024 to stop prices rising then.

Lol...very pathetic...part subsidy for 2023/2024 included in 2026 financial report... sometimes it's better to just keep quiet than to come up with this laughable explanation

nairalanda1:
Also the 7.1 trillion naira figure date back from 2024, when government was paying a subsidy (reinstated in October 2023 to April 2024 or thereabouts)

Modified...and it was a wrong decision and it probably worsened our already bad debt.

nairalanda1:
Eggsactly. Far far more...but government did pay the oil industry 7.1 trillion naira between oct 2023, and april 2024 to stop prices rising then.

So why is Rufai calling it subsidy. This was more of temporal intervention

budaatum:
Actually, what givedemwotowoto said was, we Nigerian have to end this scam, and not just be hoping it will miraculously end.

How do we end this worst scammer in the midst of our politicians, since he has used APC Twitter sympathiser Amupitan’s INEC and Wike’s courts to lock out credible opposition so he can be in front of the goalpost 🥅 without a goalkeeper next year, prior to fighting for and grabbing a 3rd term as life president?

Who will stop him?
Who will do the work needed to stop him?




https://www.youtube.com/watch?v=-8T-egSJExc?si=4cnp6_w5JdpweFbl

iwaeda:
Wike Boasts Of Helping APC Use Judiciary To Kill Osun LG Funds Case, Warns Party Leaders Against Ingratitude

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has openly boasted that he assisted certain elements within the ruling All Progressives Congress (APC) in deploying the judiciary to frustrate the Osun State local government allocation lawsuit.

In a video now circulating widely on social media and obtained by SaharaReporters, Wike made the claim while addressing a crowd in Port Harcourt, Rivers State.

The former Rivers governor accused the APC National Secretary, Senator Ajibola Basiru, of benefitting from judicial actions against the Osun State Government without knowing those who did the work behind the scenes.

The suit in question led to the withholding of local government funds in Osun State, a development widely seen as targeting the administration of Governor Ademola Adeleke as opposition in the state.

Wike, who spoke angrily, suggested that the court action supporting the APC’s position against the Osun government did not happen by chance, boasting that powerful political forces worked quietly to ensure the outcome.

“Don’t take our support for Mr President for granted,” Wike warned, in an apparent message to APC leaders defending Rivers State Governor Siminalayi Fubara. “You have to be careful about the statements you make. You have to be very careful.”

He accused Basiru of political ingratitude, claiming the APC was enjoying in Osun State without understanding who engineered their advantage.

“Today, you are enjoying in Osun. You don’t know those who did the work,” Wike said. “You are opening your mouth to talk about Rivers State.”

https://saharareporters.com/2026/01/08/wike-boasts-helping-apc-use-judiciary-kill-osun-lg-funds-case-warns-party-leaders

Minister Wike has warned the National Secretary of the APC, Ajibola Basiru to stay clear of Rivers State.
Lol 😆 https://t.co/sNKjJfb8qn pic.twitter.com/E9SgSwASil

— Emma ik Umeh (Tcee )🇳🇬 (@emmaikumeh) January 5, 2026

nairalanda1:
Eggsactly. Far far more...but government did pay the oil industry 7.1 trillion naira between oct 2023, and april 2024 to stop prices rising then.

Isn't this called subsidy? Are you using a different definition or understanding of subsidy than some of us are?

😂😂😂🦟🦟🦟

Very unbelievable.

femi4:
So why is Rufai calling it subsidy. This was more of temporal intervention

It was a subsidy. The media even referred to it as such back then, and yes, prices did not rise at all.

Emzedz:
tinibu is d worst form of ruler ever.. history will never forget his atrocities

Before we get to history, what will happen in the present time of his balablu bulaba maladministration

givedemwotowoto:
Isn't this called subsidy? Are you using a different definition or understanding of subsidy than some of us are?

It;s like you aren;t reading my posts closely.

nairalanda1:
It was a subsidy. The media even referred to it as such back then, and yes, prices did not rise at all.

You dont know the meaning of subsidy

Borrow2222:
The worst part is most of them don't even want to be rescued.

They're still blinded by tribalism and religion.

I'm even tired of telling them to vote out APC.

They can vote for anybody they like for all I care. Nobody is doing anybody a favour by voting for the right person.

And who's the right person?

ezra1990:
Lol...very pathetic...part subsidy for 2023/2024 included in 2026 financial report... sometimes it's better to just keep quiet than to come up with this laughable explanation

So, you want me to lie, because your beloved tinubu can do no wrong?

nairalanda1:
Based in quick research on the Internet, the 7.1 trillion dates from 2024 .

In brief, Tinubu reinstated subsidy in October 2023 and kept it for seven months, before removing it completely

It's not a recent report. Infact it doesn't make sense because oil prices have been quite high for this year. Ain't no way 7.1 trillion would adequately cover subsidy costs for this year or the last.

I would be glad if there was proof that NNPC was secretly doing a subsidy as it would justify my loathing of the APC government even more, but with our fiscal situation as it is , it would be madness to bring back a subsidy of any kind.

but subsidy was removed I.mediatwly after the inaugural speech and petrol prices went up which means government us no longer subsidising it.so how was it reinstated if not corruption

Oseni pls keep quiet and f e c k off. Yout noise is annoying.

femi4:
You dont know the meaning of subsidy

I actually do. It's what is the difference between the production cost and the cost at the pump as set by government, which is what happened again between 2023 oct and 2024 april

What i find is that most of you guys don't know what a consumption subsidy is. Go and read about that and then come back. Sorry for being so condescending, but I'm tired of arguing when people aren't with me.

givedemwotowoto:
"They Told Us Subsidy Was Gone, But Quietly Spent ₦7.1tn" - Rufai Oseni



Source

I agree that our government can really be shady . But you see journalism in Nigeria is DEAD. What kind of zoology journalism is this . Where (in Rufai’s voice) is the empirical data to prove subsidy was paid ? You cannot just make blanket statements without proof . EVERY country in the world has energy security expenses . Google is your friend. We cannot allow olodoism continue to rise


https://www.arise.tv/iea-global-energy-investment-to-hit-3-4tn-in-2026-as-renewables-attract-665bn/

wengerman:
but subsidy was removed I.mediatwly after the inaugural speech and petrol prices went up which means government us no longer subsidising it.so how was it reinstated if not corruption

Between october 2023 and april 2024, fuel prices did not rise at all...that was when the subsidy was in place.

And before you start, it was corruption and it was even bad for the economy as subsidy money tends to be taken from other parts of the budget leaving behind a deficit that has to be filled by.....more loans...meaning more debt.

blaise26abj:
I agree that our government can really be shady . But you see journalism in Nigeria is DEAD. What kind of zoology journalism is this . Where (in Rufai’s voice) is the empirical data to prove subsidy was paid ? You cannot just make blanket statements without proof . EVERY country in the world has energy security expenses . Google is your friend

The subsidy is there, it’s called “Energy Security Expense”

givedemwotowoto:
The subsidy is there, it’s called “Energy Security Expense”

Don’t be an olodo sir . Google it . Go and verify . Information is in the palms of your hands. Use it

blaise26abj:
I agree that our government can really be shady . But you see journalism in Nigeria is DEAD. What kind of zoology journalism is this . Where (in Rufai’s voice) is the empirical data to prove subsidy was paid ? You cannot just make blanket statements without proof . EVERY country in the world has energy security expenses . Google is your friend. We cannot allow olodoism continue to rise


https://www.arise.tv/iea-global-energy-investment-to-hit-3-4tn-in-2026-as-renewables-attract-665bn/

In response

In the 2024 financial year, the Nigerian National Petroleum Company Limited (NNPC) reported spending ₦7.13 trillion on "Energy Security". In reality, this was a reclassification of traditional fuel subsidy (or "under-recovery" payments.

The NNPC and the federal government used this terminology for specific economic reasons:

Covering the Landing Cost: It represents the massive financial difference between the actual cost of importing Premium Motor Spirit (PMS/petrol) and the regulated, capped pump price citizens pay at filling stations.

Maintaining Price Stability: NNPC framed this cost as a necessary intervention to maintain price stabilization, absorb foreign exchange (FX) volatility, and prevent severe fuel pump hikes.

Rebranding a Politically Sensitive Policy: Because the Bola Tinubu administration had officially declared the removal of fuel subsidies, grouping these massive multi-trillion naira payments under "Energy Security" served to mask the continued existence of the subsidy without contradicting their prior policy declaration

And it lasted until April 2024.

(It was included in NNPC's financial report of that year).

As reported by Business day, this payment applied only to NNPC sold fuel, not to dangote or other imported fuels.

Only a rogue and a person who sold his soul to satan and his demons will support the last regime and the current.

APC has so mastered the act of lietelling that himself devil the father of all lies even doff his hat for them.

Borrow2222:
The worst part is most of them don't even want to be rescued.

They're still blinded by tribalism and religion.

I'm even tired of telling them to vote out APC.

They can vote for anybody they like for all I care. Nobody is doing anybody a favour by voting for the right person.

That's d simple truth, n intelligent ones are tired of enlightening dem, because of d curses n quarrel. U can't convince a madman na

blaise26abj:
Don’t be an olodo sir . Google it . Go and verify . Information is in the palms of your hands. Use it

You're doing exactly what an olodo does, asking others to google information for them.

If you have any argument, present it here and provide a link to back up your argument. Didn't they teach you that in school?