₦airaland Forum

nairalanda1 aka Mr. Subsidy.
You go block me tire and you go modify your comments tire on this thread.
Subsidy historian....
E don clear for your eye abi?
When we were saying FG is still paying subsidy, omni-knoweth that you think you are called us liars and uninformed.
I leave you to Aminda.... Let me sit this one out, watch and horse laugh.
Go and argue with NNPC statement.
The question is not whether subsidy was paid partially or in full, the question is for you to define "energy security expense"?
Pls don't unblock me.

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



Source

As Oseni complains that citizens don't trust government so are many discerning people don't trust his criticisms. You don't present yourself as someone that solely holds out to find faults and never sees anything good in a government and expect serious people to take you serious.

You have told us that there is an expenditure head in NNPC accounts that you assume to be for subsidy. If you are a good journalist and not a chochocho one you should go ahead and investigate the make up of the account head so that we will clearly know whether it has components of fuel subsidy or not. This is professionalism and not his brand of armchair journalism.

givedemwotowoto:
Nigerians must fight for their democracy else they will lose it forever.

It will get worse if these people ever get re-elected.

We should be smarter than this junk journalist. The item that he picked is an account head. What is the make up of that account head? Oseni should find out this before making his usual noise. Very lazy journalist. Just sit in the studio, pick anything and dish out to undiscerning public.

anonimi:
Where was your hypocrite Obi in 2012 when Jonathan removed subsidy and Tinubu organised APC leaders looters to play politics with the issue?




https://www.youtube.com/watch?v=4x5IMzjHPug

My brother I am never an Obi supporter. I know that Obi is a hypocrite. I can't be deceived with his holier than thou attitude.

SalamRushdie:
Even the NNOC admits subsidy was paid all up to December 2024 and it was paid during Dangote price wars but you are here arguing...one day you will tell us wetin una dey gain from supporting bad govts

Erm, son, that's exactly what I have been saying on this site. That they were paying a subsidy.

specialmati:
just imagine , one day the devil will learn 1 or 2 tricks from you. nawaa oooh

Okay.

givedemwotowoto:
His opinion shifted a lot.

@ nairalanda1 let me summarize your comments and highlight why you're being misunderstood. This was an own goal:

1. First you started with "₦7.1 trillion is too small for subsidy costs if there was a subsidy being paid."
Your comment here disputed whether there was subsidy payment or not in the first place.

2. You reinforced your doubt that there was ever subsidy payments with this comment: "I would be glad if there was proof that NNPC was secretly doing a subsidy..."

3. Then you posted: "Based on quick research... Tinubu reinstated subsidy in October 2023 and kept it for seven months...".
Here, you did some quick research and now you accept there were subsidy payments.


4. Based on your earlier doubt, I asked: "You have seen proof that NNPC was secretly paying subsidy in 2024, what other proof do you want?

They were lying to Nigerians the entire time while still paying subsidies."


5. This was your response: "Proof was present in the open. Prices stopped rising for seven months from October 2023. Having followed the subsidy thing closely since 2011, I knew what was up. It was so obvious."

You even posted in response to my post that they were paying and denying:
"They did, and I was having a good laugh back then because it was so obvious they paid.. Press also reported on the payments, though they used the offical euphemisim of 'under recovery'.

I guess there was the usual stealing, but I think most of the money went to the right place, otherwise scarcity would have been massive back then.

But at the end, it worsened our debt and deficit. That's good enough reason to believe the decision was a bad one."

Opinion Shift:
From someone who doubted whether there was subsidy payment, to now saying it was in the open and you were following it up, to even saying you think most of it went to the right place? Like, you acknowledged they lied about subsidy payments, then still trusted that the money was well spent?

This is a serious shift in opinion.

I even challenged and questioned here: "The government denied paying subsidies in 2023 and 2024 while apparently paying partial subsidies... This is a serious case of deception and erosion of public trust. It wasn't in the open as you say."

For ₦7.1 trillion of public money? Yes, I understand why people are pushing back on your comments.

The reason for my earlier comment about 7.1 trillion naira being too small for subsidy was that I thought that Oseni was talking about it being paid this year.

That comment was written before i went online and found more details

There you have it

The rest of your comment is you misinterpreting my point because you feel that it undermines your argument against the government

If you knew basic economics you would see that my point is actually against the government. But because you want the subsidy back and you want it back because you believe that it can be done fraud free , you are now attacking my point as if I am a government supporter.

Anyway, it's been explained to you.

The above poster is one of the nairaland kids

Ogolemanti aka specialmanti who always posts memes , yet has no opinion on any topic whatsoever

Na waste of time for me .

Ogolemanti, for you. And for SeeWahala

nairalanda1:
The above poster is one of the nairaland kids

Ogolemanti aka specialmanti who always posts memes , yet has no opinion on any topic whatsoever

Na waste of time for me .

Ogolemanti, for you. And for SeeWahala

You lie too much

TAQIYAAA full your mouth

Just seeing this post.
Just reading the opinions and positions of everyone.
....and just being amazed.

But, life teaches us many lessons.
One if which is simple.
Integrity, justice, truth are the only things that can stand the test of time.

If we all understand what government is about and how democracy shapes societies then we will learn what positions to take, the natural points of view to have and the issues to advocate for.

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.

Subsidies can be the Monster under any guise or POV, the Fact that in most develop countries Govt is either subsidying food or education or health, is enough attestation Subsidy is a good sense of Govt presence and commitment to make life better for the people

subsidy is not why we have deficit budget in Nigeria for gods sake, See All the misappropriations, fake project, fake agencies and the boggus amount allocated to extravagant govt recurrent expenditures for some few people

Atiku just expose another 60bn appropriated for world cup wey we no qualify ... corruption is the enemy here not subsidy

Since subsidy is gone, have we not borrowed more money than subsidy ... Since the subsidy removal how as it being a relief on national budget

reddingtonblack:
Subsidies can be the Monster under any guise or POV, the Fact that in most develop countries Govt is either subsidying food or education or health, is enough attestation Subsidy is a good sense of Govt presence and commitment to make life better for the people

Okay, to subsidise fuel for this year 2026 would cost between N38-54 TRILLION naira, or nearly two thirds of our budget...and that keeps fuel at a low price.

Plus all those countries you mention, subsides are not for everyone,...to qualify your income must be checked by government to really make sure you need the money...and then they go pay you. And production subsides, where the company gets the benefit, not the masses...are more common there

And then if someone suggests you pay the type of tax they pay in those countries , you won't agree.

subsidy is not why we have deficit budget in Nigeria for gods sake, See All the misappropriations, fake project, fake agencies and the boggus amount allocated to extravagant govt recurrent expenditures for some few people

Missapropriations is part of the story, and the same thing happens in those countries where you have subsides for the poor...corruption galore (see the US investigating SNAP...and it is not the first time such things have happened there )

The problem is, if say government budgets N5 trillion for subsidy for this year, and rising oil prices push the subsidy costs to N15 trillion, where would the money come from?

OTHER SECTORS OF THE BUDGET. That

And since those sectors MUST be funded...how would you replace the oil money

LOANS.

But wait...OIL PRICES WERE RISING.

Well, the past loans we took have incurred a hefty debt , so most of that increased revenue oil money goes to ...PAYING OFF THE DEBT.

And that contributes to the deficit...that plus the fact that most of the time, oil prices are not as high as we want them and revenue from taxes are too low to adequately fund the budget.

Una see the problems?

And since massive smuggling of subsidised fuel results..that increases the subsidy costs

Plus, this is where the corruption comes in....government would be estimating subsidy costs for the following year to guard against sudden rises in the subsidy costs. That's where the stealing happens. Add lying about subsidy claims by marketers and transporters.....

Better not to pay subsidy

Atiku just expose another 60bn appropriated for world cup wey we no qualify ... corruption is the enemy here not subsidy

What does that have to do with the topic under discussion, plus it still butresses my point. APC is a corrupt government. SO WHY DO YOU WANT THEM TO MANAGE SUBSIDY AGAIN?

Since subsidy is gone, have we not borrowed more money than subsidy ... Since the subsidy removal how as it being a relief on national budget

yES, AND we will forever borrow because APC does not want to diversify and industrialize the economy.

Geddit?

SeeWahala:
You lie too much

TAQIYAAA full your mouth

Ah well, mockery is the weapon used by people who have lost the argument

Good morning, I will hold no more discussion with thee. You are free to keep on mocking me, because you are not on my level.

budaatum:
Enlightenment is a huge word, but it is certain that the unenlightened can not organise or plan, and they can most definitely not accomplish goals. In fact, without some enlightened people, there would be no "we".

It would be wonderful if we could all be enlightened, but some enlightened would be fine, if they are truly enlightened.

The exchange on citizens getting government services and utilities from paying VAT and other taxes below, reflects the great need for enlightenment to recalibrate our expectations from local, state and federal governments.

Princedapace:
I got the value based on what I paid for. I paid for vacation, right? To me, the vat plus the amount are all sum of the total worth of the package, and I got the package, I'm fine with that.

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anonimi:


Did you get the value of the VAT you paid on top of the price of your valuation? How did you get the value? In what government service and utilities did you get it?

Did you get the value for the import duty tax paid on top of the price of your imported vehicle? How did you get it in terms of improved law and order for everyone's safety etc?

Vision101:
We should be smarter than this junk journalist. The item that he picked is an account head.
What is the make up of that account head? Oseni should find out this before making his usual noise. Very lazy journalist. Just sit in the studio, pick anything and dish out to undiscerning public.

If you are not a junk commentator, then why don't you share with us the make up of the account head?

Is this the first time that A-looter Propaganda Conmen, APC leaders are playing politics with us on this fuel subsidy issue

gabydaniels:
Aug 25, 2016
The Vice President, Professor Yemi Osinbajo, has disclosed that the federal government has so far saved the sum of N1.4 trillion for not paying oil subsidy.

He also assured Nigerians that very soon, the foreign exchange market would stabilise going by some radical policies already introduced by the Central Bank of Nigeria (CBN).

The vice president who spoke in Kano yesterday during the third day of the 15th Joint Planning Board and National Council on Development meeting, urged Nigerians to restore confidence in President Muhammadu Buhari’s administration, insisting that soonest, the current economic problems would become a thing of the past.

“With the deregulation of the downstream petroleum sector, there has been a significant increase in the availability of petrol throughout the country for the savings of N1.4 trillion on subsidy payments alone,” he said.

“Also, a more flexible exchange rate regime, we will have to decrease the pressure on the external reserve. In the short run of course, there should be consequences for inflation. We expect that with greater priority we have seen in the implementation of the policy by the CBN, the foreign exchange market will stabilise and confidence will be restored.

http://www.thisdaylive.com/index.php/2016/08/26/osinbajo-we-have-saved-n1-4tn-by-not-paying-fuel-subsidy/

How much do you estimate that you have been FORCED to pay as subsidy to Buhari and Tinubu because of massive corruption in APC's oil sector

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

So, the oppostion line is that government budgeted 7.1 trillion for subsidy and then they must have stolen the whole money because fuel prices did not go down as they should.

The pro-government line is that the government spending 7.1 trillion for subsidy shows that they cared for nigerians

Neither side gets why paying the 7.1 trillion naira is bad for the economy in the first place, even if it did lead to fuel costing N200 at the pump.

Sorry, Franvincoop,you can keep weeping forever , nothing for you.

SalamRushdie:
Even the NNOC admits subsidy was paid all up to December 2024 and it was paid during Dangote price wars but you are here arguing...one day you will tell us wetin una dey gain from supporting bad govts

if nnpc admits, why are you still crying it was hidden from the public

[quote author=nairalanda1 post=140053538]

Okay, to subsidise fuel for this year 2026 would cost between N38-54 TRILLION naira, or nearly two thirds of our budget...and that keeps fuel at a low price.

The 1st logical is how did you even arrive at that Figure ! Do we even have accurate consumption data or just thieves give estimate to suite corruption
My 2nd is, the total amount lost to corruption & govt extravanga spending is it lesser than #38trillion

Plus all those countries you mention, subsides are not for everyone,...to qualify your income must be checked by government to really make sure you need the money...and then they go pay you.

False ! In uk/us subsidize grocery are Open bracket not restrictd ... cos of the co- existing trust between govt and her people, they know people won't abuse the previlege. Pls call your people in uk, us, germany food, health are subsidy you can opt in or out its your choice

And production subsides, where the company gets the benefit, not the masses...are more common there

C'mon what are you saying, Subsidy benefit businesses and encourages mass production, beyond that you need know "subsidy" influences a better standard & cost of living on the people.

And then if someone suggests you pay the type of tax they pay in those countries , you won't agree.

Bro i am tired of Tinubu boiz puttin up dis defence, estimated everything we incure in 9ja cummulative is above whatever tax they pay in Uk

In Uk, the heavy tax you pay cut your expenses on medical bills, tution, transport and groceries, you save money not buying fuel every night
As a nigerian when i look at how much i spend on fixing my Car cos of bad road in my area ... How much ni Tax if i sum up all the amount i incure cos of govt absence, I pay vigilante bill every month ... When you subtract all dis from your monthly income, what is ideal Tax compared

Missapropriations is part of the story, and the same thing happens in those countries where you have subsides for the poor...corruption galore (see the US investigating SNAP...and it is not the first time such things have happened

there )

Even though i dont full agree with the misappropriation, its debateable, You must agree The impact of Taxes is visible and reflective in those climes, you see your tax working everywhere you go.
thats what matter to me, thats what count

The problem is, if say government budgets N5 trillion for subsidy for this year, and rising oil prices push the subsidy costs to N15 trillion, where would the money come from?

Bro, subsidy or no subsidy, the kind of coreuption going on under Tinubu pass 5trillion. Did you check how much nigeria have paid as ransom under Tinubu ... But Subsidy we alienate Nigeria from the map

just imagine Tinubu had picked New refinery over coastal road, lets even assume we are borrowing All money to build one refinery of dangote standard ... Do you what that " incoming" will be doing to our economy compare to coastal road, can that road pay loan back like production

Vision101:
You have told us that there is an expenditure head in NNPC accounts that you assume to be for subsidy. If you are a good journalist and not a chochocho one you should go ahead and investigate the make up of the account head so that we will clearly know whether it has components of fuel subsidy or not.

^^^

reddingtonblack:
[quote author=nairalanda1 post=140053538]The 1st logical is how did you even arrive at that Figure ! Do we even have accurate consumption data or just thieves give estimate to suite corruption
My 2nd is, the total amount lost to corruption & govt extravanga spending is it lesser than #38trillion

Ask google. I know that if i bring my source, you will refuse to believe me

Second, we have lost trillions of naira to corruption in subsidy. That does not mean we need to keep losing it to make you happy.


.

False ! In uk/us subsidize grocery are Open bracket not restrictd ... cos of the co- existing trust between govt and her people, they know people won't abuse the previlege. Pls call your people in uk, us, germany food, health are subsidy you can opt in or out its your choice

Why are you lying outright?

Good evening, I've tried.

For those who think that fuel subsides are good

PWC paper on the matter.