₦airaland Forum

CharlesCNG:
This is what happens when political conclusions come before arithmetic.
You made four assertions
Let's rebut this point by point.

CLAIM 1: “Buhari paid only ₦8 trillion subsidy in eight years.”

Not quite. Published estimates put Buhari-era subsidy/under-recovery higher. 2022 plus the first half of 2023 alone consumed roughly ₦7–₦8 trillion.So the ₦8 trillion claim for Buhari's entire eight years is already suspect.

CLAIM 2: “Tinubu paid ₦6 trillion subsidy in his first six months.”

You mixing two adminisrations.

NNPC's 2023 figures included about ₦3.3 trillion incurred from January–May—before Tinubu became President.

Tinubu's August–December component was around ₦1.8 trillion.

Buhari incurred part of the bill; Tinubu inherited the ledger—but you mischievously want to hand Tinubu the entire receipt. 😂

CLAIM 3: “Tinubu has outborrowed Buhari in three years.”

WRONG AGAIN. Debt stock ≠ new borrowing.A huge part of the naira increase came from revaluing existing foreign debt after naira depreciation. Another major component was Buhari-era Ways & Means liabilities subsequently recognised/securitised as public debt.

Again , You being mischievous by renaming exchange-rate revaluation and inherited liabilities “Tinubu borrowing.”

CLAIM 4: “Tinubu is splurging subsidy savings on governors for defections.”

Arrant Nonsense . Where is the evidence?

FAAC allocations are constitutionally distributed to federal, state and local governments. Higher government revenues increased the distributable pool. States that could not pay salaries before subsidy removal are not only paying but are building infrastrctures.

Calling statutory allocations political bribes can only come from the figments of the imagination of an atikulated mind


Basically what you have done is mix Buhari's bills with Tinubu's, confuse debt stock with borrowing and turn FAAC allocations into defection payments without evidence—

then announce:“ATIKU WILL BRING SUBSIDY BACK!”

Before Atiku brings anything back, answer one question:

HOW MUCH WILL IT COST—AND WHO WILL PAY?
Atiku is not bringing subsidy back otherwise ask him to provide details of how.
Atiku is just confused and desperate and lying.

Kudos for this your indepth analysis of his submission!

AMINDA:
All through his 8-year tenure, Buhari paid a total subsidy of about 8 trillion naira. In the first 6 months after announcing "subsidy is gone", Tinubu paid a subsidy of about 6 trillion naira and termed it "energy security". He has also outborrowed Buhari’s 8-year tenure in just 3 years and yet, Buhari paid subsidies and has more tangible infrastructural projects to show. Who is fooling who? Splurging money on state governors in exchange for their defection and endorsement can hardly be regarded as a dividend of subsidy removal. Atiku will bring fuel subsidy back!

You are smart, this is the Scam they used to fool some so called Educated people in Nigeria, we still pay subsidy but the name was changed to Energy Security, this is what they now call it and its a bigger scam cos no one is paying attention to it anymore

Ttalk:
In other words returning subsidy simply mean Dangote refinery will pack up and Nigeria will lose saved fx used in importation.

Reason why many are poor is not because they are not hardworking but it's because they have refused to use their common sense.

so in your own words SUBSIDY is gone right?? because it is not, its been done underground, I can challenge youon this one that SUBSIDY is paid even more now

erico2k2:
so in your own words SUBSIDY is gone right?? because it is not, its been done underground, I can challenge youon this one that SUBSIDY is paid even more now

Nigeria has a huge population of illiterate pipo and that's why we are all in this mess

CharlesCNG:
Yes, Dangote Refinery can be subsidised. But that does not solve Atiku’s problem—it simply changes who receives the subsidy cheque.

If Dangote’s commercial price is above Atiku’s desired pump price, government must either:

pay Dangote/marketers the difference;
give the refinery cheaper crude or FX;
absorb the gap through NNPC;
or force sales below economic cost.

So the basic questions remain:

At what benchmark price? How much subsidy per litre? Who gets paid? Who verifies volumes? And where will the money come from?

Saying “Dangote can be subsidised” is not the answer.

It is simply another way of saying taxpayers will pay the difference.
Atiku has no plan! Subsidy restoration will collapse the country in less than three months!! Subsidy restoration is voodoo economics.

you see in a saner environment what you are saying is true but in the Nigerian context, Subsidy was never the issue, the real issue is the astronomical multiplication of product imported, imagine listing 30 vessels when in reality is was just 3.These where the issues we faced. This was even at a time when we where all well informed about subsidy, Imagine now that they do it behind closed door under new name Energy Security

MichaelSokoto:
Wat is d "energy expenses" wateva it is dat was recently discovered?
There's no logic in all dat u typed above.

That was a subsidy paid to NNPC to keep prices of the fuel it sold low. And it was done at a massive cost to our economy, and probably worsened our borrowing.

ur Tinubu has out-borrowed all his predecessors put together yet no single positive impact on well-being of citizens.

Exactly....see above as to why.

Edo Federal roads are presently d worst wit an olodo appointee overseeing there!

1. Which is again the fault of the government, and anyway it does not correlate with our discussion
2. I was even hoping Akpata or Ighadolo would win that election, but the problem was Akpata won't step down, despite being the better choice, IMO...but the problem was he came from the same zone as the outgoing governor.

Hunger is terribly unbearable now and u are typing irritating rhetorics?

The problem with subsidy is the government cannot control the production cost of fuel. Thus as prices go up for crude, spending for subsidy goes up, which means that more money that could have been spent on alleviating many things, hunger included, goes for subsidy.

It even gets so bad that borrowing has to be done to pay for subsidy

Which worsens our debt, and makes the hunger even worse.

Abeg no let me enter u ooo!

That's physically, and metaphysically speaking impossible.

What you mean is that Tinubu's subsidy removal was progressive while Atiku's subsidy retention plan will be retrogressive but Nigerians haven't seen the progress in Tinubu's subsidy removal policy. I no blame you. Your job demands that you must tell one lie each day to qualify for your entitlements. You can even see black but say it is white just to please your paymaster.

SeeWahala:
Nigeria has a huge population of illiterate pipo and that's why we are all in this mess

Na so we see the thing ohhh,E no tire you?This Scam wey dem dey do nah E go choke people if this government leaves.

nairalanda1:
That was a subsidy paid to NNPC to keep prices of the fuel it sold low. And it was done at a massive cost to our economy, and probably worsened our borrowing.



Exactly....see above as to why.



1. Which is again the fault of the government, and anyway it does not correlate with our discussion
2. I was even hoping Akpata or Ighadolo would win that election, but the problem was Akpata won't step down, despite being the better choice, IMO...but the problem was he came from the same zone as the outgoing governor.




The problem with subsidy is the government cannot control the production cost of fuel. Thus as prices go up for crude, spending for subsidy goes up, which means that more money that could have been spent on alleviating many things, hunger included, goes for subsidy.

It even gets so bad that borrowing has to be done to pay for subsidy

Which worsens our debt, and makes the hunger even worse.




That's physically, and metaphysically speaking impossible.

4rm ur 1st paragraph, ur govt is supposedly paying subsidy in disguise yet d same supposedly subsidized fuel is still bn sold at neck-breaking prices!
That is delusional bro, u can't confuse me.
On ur last paragraph, I just don't have ample time to burst out all ur lies if not... bodi 4 tell u, am just a very busy pesin.

MichaelSokoto:
4rm ur 1st paragraph, ur govt is supposedly paying subsidy in disguise yet d same supposedly subsidized fuel is still bn sold at neck-breaking prices!
That is delusional bro, u can't confuse me.

The price paid was only enough to keep fuel prices below 900 naira or less for about seven months. (I tracked it using publcly available internet information

On ur last paragraph, I just don't have ample time to burst out all ur lies if not... bodi 4 tell u, am just a very busy pesin.

I believe you don't.

Ttalk:
In other words returning subsidy simply mean Dangote refinery will pack up and Nigeria will lose saved fx used in importation.

Reason why many are poor is not because they are not hardworking but it's because they have refused to use their common sense.

So, your common sense will generate electricity needed for production?
Your common sensse will fix insecurity needed to be tackled so that farmers can produce foods?
Your common sense is what will fix FG who will spend 15billion to buy 39 SUV?
Your common sense will fix house of rep member who spent 1billion for church outreach?
Your common sense will fix 1.5billion spent for mass wedding?
Bro, thunder that will hit u is pressing up. U cant f#ol all of us. Some of us are way smarter. Do u know how much gets missing in Nigeria?

CharlesCNG:
You are focusing only on the half-empty bottle aspect of fuel subsidy removal—often with deliberate distortions—while ignoring the half that is filling up.
Atiku's plan - of which he has not provided a single detail will be a total disster. indeed it will collapse the economy. I will provide you with more than twenty reasons but will start with just one:DANGOTE AND LOCAL OTHER LOCAL REFINERS.

Nigeria’s petrol market is no longer the old import-dependent system: with Dangote and other local refiners now producing, Atiku’s detail-free “restore subsidy” talk raises one simple question: will government force local refiners to sell below cost, or will taxpayers pay them the difference?

Until he answers that, “I will restore subsidy” is not a policy; it is a slogan without an invoice.

BEFORE ATIKU “BRINGS SUBSIDY BACK,” PLEASE GET ATIKU AND HIS SUPPOERTERS , AT LEAST THE OLD SUBSIDY ARITHMETIC RIGHT

why are u people not talking about looting? What is wrong with u guys? Remove subsidy but fix corruption first is perfectly fine. How do u remove subsidy that has wrecked down 90% of Nigerians, while the very few rich and elites from political ruling class never gets affected but still dey loot and ball as they did even before, so what is the benefits?
Pls, talk to me, I am very interested in this particular talk.
If this moda f$cker had fixed corruption first before removing subsidy or attended to electricity first to reduce the effect, we wont suffering this way. Do u understand that 90% of Nigerians are struggling badly while the same corrupt leaders who caused these problems are balling? Like u can ball even harder once u indicate inteerstes to support his re-election. Them swear for una?
How can a poor country be buying 39 SUV for 15 billion.
plsssssssssssssssssssssssssssssssss
Answer me, as a poor person, will u spend 300m on a car? A country claimed to be poor, suffering her citizens but buys SUV for 15billion for mobility. Like, WTF is wrong with u guys? Answer these questions. I wnt to hear from u

greatiyk4u:
You ended up compounding the confusion in an attempt to defend Tinubu.......if you can't see failure written all over Tinubu and his government, you need to check yourself......
The usual complaints is that fuel subsidy is riddled with corruption, can't the corrupt practices be curbed if the government is serious......the effects of low fuel cost in the lives of Nigerians is far more valuable than the valueless increase in the state and LG allocation that is hardly used for the benefit of the masses

You are still treating Nigeria as though the President runs every state treasury.

We operate a federal system. Tinubu cannot collect FAAC on behalf of a governor and then personally decide how that governor spends it.

If a state receives more money and wastes it, blame the governor. If a local government misuses its allocation, blame the local authorities.

That does not prove the money should instead have been burnt permanently subsidising every litre of petrol consumed by rich and poor alike.

And “just stop the corruption in subsidy” ignores the real problem: the corruption was encouraged by the price distortion itself.

Create a large gap between official petrol price and market value and you create arbitrage, diversion and smuggling.

Low petrol prices are desirable. But subsidy does not make petrol cheap.

It only changes who pays.So before celebrating Atiku’s slogan, ask him one basic question:

What will his benchmark petrol price be, and exactly how will he pay the difference?

Until he answers that, “bring subsidy back” remains a slogan, not a policy.

Disagree with Mr. Onanuga on this.

First and foremost policies are not set in stone. They are not made by an all knowing and all able God so they can be reversed or altered.

Secondly I personally am an ultra strong advocate (have always been) for the removal of fuel subsidy but for the very reason that the state institutions that were necessary to ensure its fidelity are not just up to it. The subsidy removal was a necessary leg amputation because the expertise, the means, at saving the diseased leg is not just available and delay would be fatal.

However, however, however. I have been absolutely, totally and unequivocally disappointed at the way and manner the MANAGEMENT of the fallout and the missed opportunities at utilizing the gains of the 'savings' have been conducted.

There was NO plan to handle inflation whatsoever. If as they say subsidy did not benefit the poor, then why is the poor bearing the significant effect of inflation.

And the logic is simple. When you remove the pillar that supports a structure or a tyre that runs a vehicle in order to repair it, you MUST have a plan to keep the building or the vehicle upright and standing in the meantime. You simply cannot allow everything to collapse. What then is the repair about if everything is destroyed.

You don't go about 'sharing' the so called 'savings' as the first resort and which is the certain trigger for inflation, but you invest first in anti inflationary mechanisms. The first investment should have been alternative energy and energy delivery systems that will.match or better the existing subsidy systems.

Run such a program with all the resource you have saved for a year or two or the entire first term. When the economy is stabilized then you can push onto your development plan but you take everything from the people and share to be wasted as seen across all federating units is just heart breaking.

You are amputating to save a life not not end it.

Gaddaffi121:
This is bayo onanuga. Nothing you wan tell me

Does this mean you Obidients have finally promoted me from the famous ₦30k-a-month data boy to Bayo Onanuga? 😂

At this rate, one more rebuttal and I may become Minister of Information.

Anyway, enough promotions. We are discussing Atiku's voodoo economics here.

He says he will restore subsidy.

Fine.

At what petrol price?

How much will government pay per litre?

Who receives the subsidy?

How will he prevent arbitrage, diversion and smuggling?

Where will the trillions come from?

Calling me Bayo Onanuga does not answer any of those questions.

So please leave my imaginary appointment letter alone and return to the economics.

Atiku made the promise. Let Atiku produce the calculator.

Rayjay45:
You sef see CharlesCNG gallivanting and spamming the whole place - even replying himself

The struggles of a data boy.

Someone just promoted me to Bayo Onanuga. You have now demoted me back to data boy. 😂

No problem. Please hold a meeting and agree on my job description.

But CharlesCNG is not the subject.

Atiku’s voodoo economics is.

He says he will restore subsidy.

So answer the basic questions:

At what benchmark petrol price?

How much subsidy per litre?

Who pays the difference?

How will he stop arbitrage and diversion?

Where is the funding plan?

Calling me Bayo Onanuga, data boy, spammer or anything else does not supply the missing arithmetic.

So please, back to topic.

Atiku made the promise. Let Atiku explain the economics.

Rayjay45:
Dey dia dey yarn dust. Your own principal gangan don yarn say 'shey na statistics we go chop?'

Make the whole North hear this Atiku proposition lasan and 2027 will be so over for you thieves!

Laughable , pathetic attempt to derail the thread and change the subject.

Nobody is discussing what “the North will hear” in 2027. We are discussing one specific proposition:

Atiku says he will restore fuel subsidy.

Fine.

Then answer the economics.

What will be the benchmark petrol price?

₦600? ₦700? ₦800?

How much will government pay on every litre?

Where will the money come from?

How will he prevent diversion, arbitrage and smuggling?

What happens to Dangote and other local refiners?

Those are not “statistics.” Those are the actual mechanics of the policy.

Saying “the North will love it” is like advertising free lunch and refusing to say who is paying the restaurant bill.

So please, no more detours.

Back to Atiku's voodoo economics.

He made the promise.

Let him show us the price tag.

CharlesCNG:
You are still treating Nigeria as though the President runs every state treasury.

We operate a federal system. Tinubu cannot collect FAAC on behalf of a governor and then personally decide how that governor spends it.

If a state receives more money and wastes it, blame the governor. If a local government misuses its allocation, blame the local authorities.

That does not prove the money should instead have been burnt permanently subsidising every litre of petrol consumed by rich and poor alike.

And “just stop the corruption in subsidy” ignores the real problem: the corruption was encouraged by the price distortion itself.

Create a large gap between official petrol price and market value and you create arbitrage, diversion and smuggling.

Low petrol prices are desirable. But subsidy does not make petrol cheap.

It only changes who pays.So before celebrating Atiku’s slogan, ask him one basic question:

What will his benchmark petrol price be, and exactly how will he pay the difference?

Until he answers that, “bring subsidy back” remains a slogan, not a policy.

Yes he cannot decide how a governor spends.
But that is the exact reason why subsidies were removed. Because government could NOT CONTROL how resources were spent on fuel imports.

So Mr. President has shut the door to a set of irresponsible officials in the NNPC and co. and handed it over the same resources to another.set of irresponsible officials at state and council levels.

So the same weakness shown by the citizenry in not being able to monitor and supervise subsidy is the same weakness the citizenry have in not being able to monitor and supervise their state governors and councilmen.

But even more than that the Federal government in itself has not been able to respond to the people appropriately. So they themselves are stubbornly pig headed. They themselves choose what to spend money on and what to ignore. Have they too not been seen to waste and steal....so what are we saying.

Everyone shouts power, fix power fix power, as an example, but they have refused. Instead they are busy building concrete roads at enormous costs no one is pressing them for....so what are we saying...

So who is showing good example to the states and councils by fidelity in expenditure and responsiveness to the people's needs....?

SmartPolician:
It's either you people have been brainwashed by criminals in power or you are one of those who they pay to defend their madness on social media.

Dangote refines crude oil to sell to both Nigerians and foreign buyers. The NNPC gives a a fraction of crude oil to Dangote in naira to satisfy local demand while Dangote imports the rest.

Crude oil is a raw material Nigeria has in abundance. If Atiku wants to subsidize the refined products distributed locally, he will only acquire the data of how much products Nigerians consume every day, subsidize it for citizens while Dangote maintains its price for international buyers. This is no rocket science!

Tell your Tinubu that his "subsidy is gone" policy has only enriched his fellow thieves in power, while destroying the middle class, skyrocketing inflation and leaving struggling Nigerians worse off!

The insult is doing the heavy lifting because the economics still has holes.

Yes, Nigeria can decide to subsidise the portion of Dangote petrol sold domestically. But saying “just get consumption data and subsidise it” skips the entire hard part.

Dangote’s refinery is a commercial business. Its petrol price still reflects crude cost, refining cost, FX exposure and market conditions. In July 2026, Dangote’s ex-depot petrol price moved to about ₦1,215/litre, and the refinery itself linked the increase to higher global crude prices.

So if Atiku wants Nigerians to pay, say, ₦700 while Dangote’s commercial price is ₦1,215, somebody must pay the roughly ₦515 difference on every subsidised litre.

That “somebody” is government.

And once government starts reimbursing the difference, the old questions return immediately: who verifies the litres, who confirms they were actually sold locally, who prevents inflated claims, who stops diversion, and who pays when crude prices rise again?

The naira-for-crude arrangement does not make crude free. It merely changes the settlement currency. Dangote has also complained that available crude under that arrangement has been insufficient, forcing it to source additional crude elsewhere.

So no, this is not rocket science.

It is actually more basic:

Atiku still has to tell Nigerians the subsidised benchmark price, the subsidy per litre, the eligible volumes, the reimbursement mechanism and the annual cost.

Until then, “we will simply subsidise Dangote’s local output” is not an answer.

ogascomax:
If you ended in clime 2 I would have accented what you said but adding other climes made me see that the rest climes were nonsense by you.

😂😂 My brother, before we debate my “climes,” perhaps first decide whether you want to accept them or accent them.

I made claims, not climatic zones. We are discussing fuel subsidy, not Geography.

But never mind the English excursion. You apparently agree with my first two points and disagree with the rest.

Excellent.

Which specific claim is wrong, and why?

Quote it. Rebut it. Bring your figures.

Calling everything after “clime 2” nonsense is not a rebuttal.

You cannot mark an economics examination by writing “NONSENSE” from Question 3 downward and expect full marks. 😂

Back to Atiku's subsidy economics, please.

Parachoko:
It's going to be so dumb for any Government to start paying subsidy on Fuel again

You are right,bro 👍
And it Shows glaringly that -THE OPPOSITION AND THEIR Footsoldiers on the Social Media with gaulible audiences - Have NOTHING to bring to the table to help Nigeria- as they move from One Party to Another Party - just Migrations!
•How Can Alh. Atiku be Serious - for Saying -He wants to Return the Subsidy - to the Original and NIGERIANS Will Be Paying Subsidies Again-if he Comes to govt!😜
-Why is he doing All this- when he can't even return the NEPA DISCOS Loan Facilities of 16-BILLIONS- Unaccounted For AND Darkness is all over Nigeria till date!

GUNITGuy:
Exactly i doubt if Atiku thought through before making that statement ...
Will he force Dangote to sell below cost price
Would be reduce minimum wage

You are right. Atiku is approaching what may be his final serious presidential attempt. The danger is that desperation can make a politician promise anything, reverse anything and say anything that might produce one more electoral opening.

But Nigeria's economy is too serious for last-chance manifesto improvisation.

You don't announce the price of the medicine before deciding who manufactures it, who pays for it, what dosage you can afford and whether it clashes with every other drug the patient is already taking.

Atiku has announced the medicine.

Now let him produce the prescription.

anonimi:
ADC manifesto is simply about bringing back 16 years of PDP prosperity, peace and security with cheap petrol, cheap dollars and less debt burden, inspired by genuine deregulation and privatisation unlike the balablu bulaba abracadabra magic of Tinubu and APC.

How long did it take to crash telecom prices after GSM licences were auctioned out in 2001? Why has Tinubu failed to crash petrol prices as he promised almost four years ago? Do you know? Any idea why?

This is a false equivalence twice over: telecoms are not petrol, and “genuine deregulation” is not government guaranteeing cheap prices.

Nigeria’s telecom revolution worked because government opened the market to competing operators, while technology, massive network expansion and economies of scale gradually drove costs down. Prices did not magically crash immediately after the 2001 auction. Calls started around ₦50 per minute; serious competitive pressure intensified after Globacom entered in 2003, and tariffs declined over subsequent years. SIM costs likewise fell dramatically over time.

Petrol is completely different. Its principal raw material—crude oil—is an internationally traded commodity. Refiners compete, but they cannot competitively “innovate” the global crude price away. Their naira costs also move with the exchange rate. If crude rises or the naira weakens, domestic petrol economics change.

And here is the contradiction that destroys the argument:

You cannot promise “genuine deregulation” and simultaneously promise Nigerians administratively cheap petrol and cheap dollars.

Deregulation means allowing prices to reflect supply, demand and competition.

Just like how Nigeria's public debt jumped from ₦12.6 trillion for 55 years after independence to ₦159.35 trillion in 11 years of APC led FG. Even after the removal of subsidy, floating of the naira, increasing customs duty, increasing electricity tariff, increasing VAT, PBAT alone added over ₦71T to Nigeria's debt in just 33 months with almost nothing to show for it.

CharlesCNG:
This is a false equivalence twice over: telecoms are not petrol, and “genuine deregulation” is not government guaranteeing cheap prices.

Nigeria’s telecom revolution worked because government opened the market to competing operators, while technology, massive network expansion and economies of scale gradually drove costs down. Prices did not magically crash immediately after the 2001 auction. Calls started around ₦50 per minute; serious competitive pressure intensified after Globacom entered in 2003, and tariffs declined over subsequent years. SIM costs likewise fell dramatically over time.

Petrol is completely different. Its principal raw material—crude oil—is an internationally traded commodity. Refiners compete, but they cannot competitively “innovate” the global crude price away. Their naira costs also move with the exchange rate. If crude rises or the naira weakens, domestic petrol economics change.

And here is the contradiction that destroys the argument:

You cannot promise “genuine deregulation” and simultaneously promise Nigerians administratively cheap petrol and cheap dollars.

Deregulation means allowing prices to reflect supply, demand and competition.

What ICT material is not internationally traded?

Why has APC failed to have the same competition in refineries that PDP engineered in telecoms, 10 years after the progreThieves first removed subsidy? Instead of that they fed us with lies about NNPC refineries working and even exporting fuel since 2024, while borrowing more than PDP presidents without improving the economy.

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/

me i did not said He should not bring subsidy back ooo, but nobody should review our salary go back oo or own me salary

CharlesCNG:
You are right. Atiku is approaching what may be his final serious presidential attempt. The danger is that desperation can make a politician promise anything, reverse anything and say anything that might produce one more electoral opening.

But Nigeria's economy is too serious for last-chance manifesto improvisation.

You don't announce the price of the medicine before deciding who manufactures it, who pays for it, what dosage you can afford and whether it clashes with every other drug the patient is already taking.

Atiku has announced the medicine.

Now let him produce the prescription.

Exactly this is were Tinubu is smarter .....He was silent about restructuring while Atiku talked about restructuring in 2023 election an attempt to curry support from the south ...
All of them agreed to remove subsidy at the same time so they can't claim they don't know it's implications which is what we are facing ....
Obi seems to even get it worse in Public speech ....Trying to pander to China every time in his speech and the imperialist Colonial Western Nation of France, Britain are hearing that they won't even let him smell that seat ....
He might become a Russian ally we the way he's talking and sabotage their interest....
As a Politician let your words be few but your conviction be many for majority to buy into

CharlesCNG:
This is what happens when political conclusions come before arithmetic.
You made four assertions
Let's rebut this point by point.

CLAIM 1: “Buhari paid only ₦8 trillion subsidy in eight years.”

Not quite. Published estimates put Buhari-era subsidy/under-recovery higher. 2022 plus the first half of 2023 alone consumed roughly ₦7–₦8 trillion.So the ₦8 trillion claim for Buhari's entire eight years is already suspect.

CLAIM 2: “Tinubu paid ₦6 trillion subsidy in his first six months.”

You mixing two adminisrations.

NNPC's 2023 figures included about ₦3.3 trillion incurred from January–May—before Tinubu became President.

Tinubu's August–December component was around ₦1.8 trillion.

Buhari incurred part of the bill; Tinubu inherited the ledger—but you mischievously want to hand Tinubu the entire receipt. 😂

CLAIM 3: “Tinubu has outborrowed Buhari in three years.”

WRONG AGAIN. Debt stock ≠ new borrowing.A huge part of the naira increase came from revaluing existing foreign debt after naira depreciation. Another major component was Buhari-era Ways & Means liabilities subsequently recognised/securitised as public debt.

Again , You being mischievous by renaming exchange-rate revaluation and inherited liabilities “Tinubu borrowing.”

CLAIM 4: “Tinubu is splurging subsidy savings on governors for defections.”

Arrant Nonsense . Where is the evidence?

FAAC allocations are constitutionally distributed to federal, state and local governments. Higher government revenues increased the distributable pool. States that could not pay salaries before subsidy removal are not only paying but are building infrastrctures.

Calling statutory allocations political bribes can only come from the figments of the imagination of an atikulated mind


Basically what you have done is mix Buhari's bills with Tinubu's, confuse debt stock with borrowing and turn FAAC allocations into defection payments without evidence—

then announce:“ATIKU WILL BRING SUBSIDY BACK!”

Before Atiku brings anything back, answer one question:

HOW MUCH WILL IT COST—AND WHO WILL PAY?
Atiku is not bringing subsidy back otherwise ask him to provide details of how.
Atiku is just confused and desperate and lying.

If you were wise (not a surprise tho), you should be ashamed of the rubbish you wasted your time to type up there.

You claimed the rise in tunubu borrowing is as a result of nair devaluation, yet you immediately boasted of how the old wag is allocating more money to the states, thus salary being paid.

Trash!!!

You devalued money, naira roase by 500%, salary refused to rise. Yet you claim you dont owe salary, yes, because you no longer pay salary.

100% of subsidy money is being syphoned through that coastal road wastage. You may be dumb, but most of us are not in same class with you.

jamafa:
Nah today suffering start??

Will bringing subsidy end suffering??

Yes massively it wud reduce suffering.Just imagine that u can but fuel for N200 per liter now ...the effect on the economy wud be massive it wud impact on our dollar rate and effectively reduce d cost of living.That N8TRILLION that is being frittered away by the Governors can made to good use.Thank God Dangote is already onstream,those exorbitant taxes he is being made to pay wud be completely srcapped.

PENSION TRANSITIONAL ARRANGEMENT DIRECTORATE ·
Afeez Olowookere
·
20 September 2024
·
Here's a breakdown of the costs that make up the landing cost of Premium Motor Spirit (PMS), also known as petrol, in Nigeria, totaling N1107 per liter:
1. FOB cost: N434.32
2. Freight cost: N86.48
3. Insurance cost: N10.58
4. Lightering cost: N23.45
5. Jetty depot fees: N15.35
6. Storage fees: N12.58
7. Financing costs: N34.67
8. Foreign exchange costs: N23.45
9. NPA charges: N10.58
10. NIMASA charges: N5.29
11. Customs duties: N51.17
12. Other levies and charges: N50.00
Total landing cost: N1107.00
Please note that these costs are subject to change and may vary depending on market conditions, exchange rates, and other factors. This breakdown is based on publicly available data and may not reflect the current or exact costs.
*With Dangote refinery you may not pay 2,5,6,7,8,9,10,11*
So the cost will significantly be reduced but spoil business for these Parastatals and the CABALS.Just imagine all these taxes and more are scrapped and the NAIRA TO CRUDE arrangement with DANGOTE refinery is diligently adhered to,FUEL can be sold for at least N300 PER LITER.Mind you this is a 2024 illustration

nairalanda1:
The reason why dangote has to make enough profit is because unfortunately

1. It does cost a lot to refine crude into petrol and other components
2. Some waste, which cannot be used for anything would be left over
3. Transport costs are very expensive
4. Price of crude can fluctuate well well.

So, if he is not making enough profit, he won't be able to cover for all those things....

And note that i have not even mentioned his maintenance and upgrade costs, which are very expensive because most of what is in that refinery comes from abroad. Any upgrades or expansion would mean installing machinery which also comes from abroad.

A subsidy would mean in principle government pays something like N1000 for every N1200 of crude dangote sells. And pay transport costs as well. Which on the surface looks good, but in reality

1. Crude oil prices fluctuate. If crude goes as high as 150 dollars per barrel, government may have to spend far more than 1000 naira per liter to keep fuel prices low.Which could lead to borrowing, and also lead to government cutting down on spending on education, health, etc, and salaries going unpaid.
2. Also, if crude prices fall, that may in theory ease costs, but in reality, it means that government ironically has lower amounts of money to spend on subsides...which could in turn lead to government borrowing or taking money from state allowances to pay for subsidy, which could force states to either not pay salaries, or borrow money. And again, no spending on education, health, etc.

Note I did not mention smuggling. Smuggling, most of which is done by small scale operators, would further drain costs (Nigeria has less than 100000 customs and excise and immigration people, manning a border as large as ours would not be easy at all atall...).

The best government can do is to reduce dangote's tax, which amounts to a production subsidy, which won't reduce prices by much, but would not let them go sky high either

Keep a subsidy, and the refinery would run at a loss....to the point that the refinery would stop spending money on maintenance and repairs to keep subsidy costs low, which would lead to the refinery breaking down eventually. (It happened in the same way to our NNPC refineres)

All these ur reasons are not tenable ..they are relative

Bayo Onanuga should know that his response should be for VDM and the Davido.. he should keep quiet when presidents are talking, his boss should be the one to respond.

Omooba77:
https://punchng.com/atikus-subsidy-plan-retrogressive-fiscally-unsustainable-presidency/