₦airaland Forum

nairalanda1:
We are not paying for petrol at the same price as the Americans o. Not only are prices higher in the USA, some states like California add tax on top of the fuel price per liter, further raising the price.

When we mention America stop mentioning California please , everything in California is priced differently from most of America...In Texas a litre of regular petrol is 1300 naira and in Nigeria it's the same , in Texas a kwh of electricity is cheaper than what I pay in Lagos for both my house and office

"Tell me you are an economic illiterate without telling me you are an economic illiterate."

Atiku is just being a hypocrite. He knows thats what the people want to hear.

Populism and economic bankruptcy can not be divorced.

I don't know why this should even be a problem. All over the world, government subsidise one thing or the other for the citizens either health, pms, education etc. but, in Nigeria there's nothing we can say this is what we benefit from being a Nigerian. Instead of removing the subsidy, identify the loopholes in the process and deal with that. Anyone found inflating the quotes should be sent to life imprisonment or even death sentence. Our economy is mostly dependent on fuel. Anything you do, it has multiple effects on the citizens.

nairalanda1:
Well bringing in a subsidy would do the opposite of what you want.

See the electricity sector. A subsidy has been maintained on the electricity sector for decades, the APC government won't remove it at all...and the result is a sector that can barely manage to produce up to a third of the electricity NIgeria needs.

A subsidy on fuel would end the ability of the sector to make a profit, and lead to its downfall. That is what happened with the NNPC refineres. They were prevented from making a profit in the name of subsidy, and as a result could not fund running, expansion and upgrade costs at all atall, and whatever money was made from periodic partial removals of subsidy was spent on government bonanza projects. Result, we lost domestic refining and ended up throwing away foreign exchange...importing fuel AND subsidizing it.

If you want a subsidy, either do as they do in saner climes and pay the tax for it, or forget about it. Nothing in this world runs witout it making enough money. People want to be paid.

This is purely lie. Subsidy did not kill Refineries. Nigerian Refineries were destroyed by some of the same people parading themselves as oil Moguls. They routinely bribed corrupt staff to poison the Refineries Catalytic converter. If you are familiar with refinery operation you know significant impurities in the FCC catalyst kills the cracking process. The Refinery ends up doing only atmospheric distillation which only distillation about 40 % of the crude and leaves the 60% as base oil. Very few factories use base oil in Nigeria. Once the base oil accumulates, they go to Abuja and lobby for a contract to evacuate the base oil at give away prices because the refinery needs space. Its essentially as good as getting free crude oil. The base oil they will export and sell to Old European Refineries that refine only base oil because of there age. Some of these culprits even now own some of those old European Refineries.


The only solution to corruption in Nigeria is to disband the country, so that each group will hold its nationals accountable instead of years of negatives protected by ethnic sentiments.

kfasian:
5 STRONG REASONS WHY I SUPPORT ATIKU’S POSITION ON FUEL SUBSIDY

Opinion:

By PastorKay



PastorKay is a
Public Commentator and Social Activist

And you forgot the most important question, when? Do you think Atiku is interested in bringing back subsidy? Is he going to form a committee that'll help bring back subsidy? How long will this committee take? How long will he take to implement the 'findings'? What can you do after you were scammed?

All the money required for subsidy can be found in just one person's account stolen for years

GerogeI:
This is purely lie. Subsidy did not kill Refineries. Nigerian Refineries were destroyed by some of the same people parading themselves as oil Moguls. They routinely bribed corrupt staff to poison the Refineries Catalytic converter. If you are familiar with refinery operation you know significant impurities in the FCC catalyst kills the cracking process. The Refinery ends up doing only atmospheric distillation which only distillation about 40 % of the crude and leaves the 60% as base oil. Very few factories use base oil in Nigeria. Once the base oil accumulates, they go to Abuja and lobby for a contract to evacuate the base oil at give away prices because the refinery needs space. Its essentially as good as getting free crude oil. The base oil they will export and sell to Old European Refineries that refine only base oil because of there age. Some of these culprits even now own some of those old European Refineries.


The only solution to corruption in Nigeria is to disband the country, so that each group will hold its nationals accountable instead of years of negatives protected by ethnic sentiments.

All you have just done is describe how subsidy wrecked the nigerian refineries.

Having corrupt people wreck the refineries attracted more free money that could be looted.

If there was no subsidy, there would have been no free money.

That would have made what you have outlined impractical as it would have caused the same corrupt people to lose money.

SarkinYarki:
When we mention America stop mentioning California please , everything in California is priced differently from most of America...In Texas a litre of regular petrol is 1300 naira and in Nigeria it's the same , in Texas a kwh of electricity is cheaper than what I pay in Lagos for both my house and office

And texas is not america, old man. And they are not paying a subsidy, they are reaping the benefit of allowing their refineries run on free market principles.

nairalanda1:
All you have just done is describe how subsidy wrecked the nigerian refineries.

Having corrupt people wreck the refineries attracted more free money that could be looted.

If there was no subsidy, there would have been no free money.

That would have made what you have outlined impractical as it would have caused the same corrupt people to lose money.

Stop describing systems you have no idea of how they actually operate. The corruption has nothing to do with subsidy, and predates subsidy. Subsidy came into effect when refineries were already dying, and Nigeria now had to import.

nairalanda1:
Well bringing in a subsidy would do the opposite of what you want.

See the electricity sector. A subsidy has been maintained on the electricity sector for decades, the APC government won't remove it at all...and the result is a sector that can barely manage to produce up to a third of the electricity NIgeria needs.

A subsidy on fuel would end the ability of the sector to make a profit, and lead to its downfall. That is what happened with the NNPC refineres. They were prevented from making a profit in the name of subsidy, and as a result could not fund running, expansion and upgrade costs at all atall, and whatever money was made from periodic partial removals of subsidy was spent on government bonanza projects. Result, we lost domestic refining and ended up throwing away foreign exchange...importing fuel AND subsidizing it.

If you want a subsidy, either do as they do in saner climes and pay the tax for it, or forget about it. Nothing in this world runs witout it making enough money. People want to be paid.

You keep writing trash. Maybe u think u are talking to illiterates.How will subsidy make the refinery like DR not profitable. Is the refinery only producing for Nigerians. Is the subsidy not suppose to be on only Nigerians consumed fuel.Is the refinery not making profits from other 6 products from crude oil.How old are u.Who told u it was subsidy that killed the nations refineries. You keep saying rubbish trying to sound intelligent
What has majority of Nigerians benefited from it for the past 3 yrs it was removed beside hunger and poverty

Oga let me hear word. How was it done since during the time of Jonathan when we were all enjoying. All salaries paid. Pensions paid Projects were going on here and there. We didn't borrow much from international lenders. Even our foreign debts were cancelled. Subsidy must come back period

Lithiumite:
Have you read the latest report on nigeria's daily fuel consumption.......it states we consume about 50m liters of fuel daily both locally produced and imported........do the math on how much subsidy govt would have been paying daily with the current cost at 1,350.

How much will prices come down to,will atiku bring it back to the pre tinubu rates of 250 naira a liter,that means he will be paying nothing less than 1k per liter in subsidy,kindly multiply that by 50m liters daily.......any subsidy regime that will come to the consumer higher than 500 to 600 naira makes no sense and even at that,atiku will still have to be forking out 650 naira on every liter.......do the math,where atiku wan see that kind money pay?

Instead of direct pms subsidy,why not push for policy advocacy that govt should rather make efficient and cheap transportation available.........lagos state for instance should provide more CNG mass transit busses at subsidised rates,about half the cost the masses are currently spending on transport.......also food trucks from the north can be subsidised by providing subsidised diesel or free diesel for them with tracking devices attached to monitor their movements also the multiple state levies they pay should be abolished or reduced.

Govt should provide standard public schools that will be affordable,they can serve as alternatives to the expensive private schools all over the place,this will make households able to save money they would have spent sending their children to private schools.

Health care,child and maternal health should be made free and a health scheme that is efficient and affordable, health insurance should be more accessible and our PHCs be better improved to provide cheaper health care to the masses.

The challenge is many of this things we mentioned falls within the purview of the state govs who should be compelled by the citizens to do more,if you are get cheap subsidised transport to work, your kids are attending cheap public schools,your wife and child can get affordable health care and food arrives at the market cheaper...... the govt would have done a lot to ameliorate the suffering of the people amd will have a far better effect then the burdensome pms subsidy regime and can be effectively tracked and assessed.

toolovely:
I don't know why this should even be a problem. All over the world, government subsidise one thing or the other for the citizens either health, pms, education etc. but, in Nigeria there's nothing we can say this is what we benefit from being a Nigerian. Instead of removing the subsidy, identify the loopholes in the process and deal with that. Anyone found inflating the quotes should be sent to life imprisonment or even death sentence. Our economy is mostly dependent on fuel. Anything you do, it has multiple effects on the citizens.

Corruption and fraudulent practicies are the biggest Nigeria undoings and 90 percent of Nigerians are potential theives.

Ordinarily nothing is bad with subsidies infact it remains what ordinary citizens benefit directly from the government but then the corruption and fraudulent practicies associated with it and also being the only major product bringing money to the federal government,who fed the state and local governments,has made the subsidies practically impossible.

Nigerians are expecting accountability and transparency from Atiku.....11 wonders of the Universe

Sheuns:
We don’t consume 50M liters of petrol daily.

You guys think we’ve forgotten so soon when Tinubu administration told us that our daily fuel consumption had dropped to about 12M liters daily as far back as 2024.

Where did you get 50M daily again? Who are those buying these fuel?

Businesses that used to power generators with petrol have closed since fuel prices surged, people no longer fill up their car tanks and no one fills up his fuel tank daily. So where is this 50N petrol usage daily coming from?

Who say we don’t consume 50m liters of fuel daily.

My company alone makes an average sales of 600,000 liters of PMS per day. Now let’s add Shafa, AA Rano, Tecno, with other major and individual markers. If it didn’t get to 50m liters, it will be above 40m liters.

NIGERIAJAGAJAGA:
I keep saying this. Subsidy is the only thing masses are benefiting from government. Now since they removed it, tell me what masses are benefiting from government. They will tell u they sharing it to state government which we all know that governors will siph0n the money and enrich themselves. That's why u can see 32 governors queue at Mr president back.

oga u are not benefiting anything from subsidy....because fuel cheap doesn't means u are benefiting from it.... Explain to me how are u benefiting from it when subsidize?

nairalanda1:
And texas is not america, old man. And they are not paying a subsidy, they are reaping the benefit of allowing their refineries run on free market principles.

See this old man calling me old man 😁😁 ....well where you get the idea that American oil industry is not subsidized from ? You people just keep spewing nonsense everywhere ...These Nigerian failed politicians have really brain washed all of you so well ..this is how one character was arguing that we don't have electricity because we don't pay enough for it 😁😁

The people supporting tinubu are so dumb. How you see a man that is deliberately reducing the purchasing and educational power of the people so that he can continue to rule over them without much interference yet your brain and your conscience feel ok to support such evil? A man that wants to sideline the north and become an empire of his time by enriching himself and his cronies all over the world including those he works for. Nigeria is caged except tinubu loses 2027

nairalanda1:
Well bringing in a subsidy would do the opposite of what you want.

See the electricity sector. A subsidy has been maintained on the electricity sector for decades, the APC government won't remove it at all...and the result is a sector that can barely manage to produce up to a third of the electricity NIgeria needs.

A subsidy on fuel would end the ability of the sector to make a profit, and lead to its downfall. That is what happened with the NNPC refineres. They were prevented from making a profit in the name of subsidy, and as a result could not fund running, expansion and upgrade costs at all atall, and whatever money was made from periodic partial removals of subsidy was spent on government bonanza projects. Result, we lost domestic refining and ended up throwing away foreign exchange...importing fuel AND subsidizing it.

If you want a subsidy, either do as they do in saner climes and pay the tax for it, or forget about it. Nothing in this world runs witout it making enough money. People want to be paid.

IMF poster boy, well done oo.
Only subsidy topic you dey strong

[quote author=nairalanda1 post=140438122]

Well bringing in a subsidy would do the opposite of what you want.

Bro i disagree with, your doubt or pessimism stems from - corruption, opaqueness and human/naija factor that breeds inefficiency at the end

the Fact that " subsidy" is practice in countries we run to nd see as model is enough clarification " Subsidy" can never be " BaD"

We have a situation, cutting off the head is never a solution to stubborn Migraine ...even if it is the easiest route instead you implore or profound biotics that can counter directly

The question is, have we even tried to develop a system to eradicate the opaqueness that surrounds " Fuel subsidy" at All before we jump to cut off the head ..No!

We as people are in position to do nothing, but Govt have the capacity to come up with security measures that mitigate corruption by profounding auto systematic approach that filters and detect

We have a problem But i dont like it when People pass an impression cutting of the head is a solution to headache

Thank god Tinubu remove subsidy now lets weigh between ... Weigh the benefits of subsidy and weigh the consequences of removal are we better now using direct impact and budget performance

Cutting off the head is never a solution to Migraine ..besides casket costs more than ibuprofen or Panadol on the long run

Banadriy:
IMF poster boy, well done oo.
Only subsidy topic you dey strong

Well, at the end of the day, you must sell at a profit to supply good service with the funds you make.

emirate9:
,,,

It doesn't matter whether you disagree with me, a subsidy was part of our problems as a nation, and we cannot afford it, tinubu in power, or obi in power.

SarkinYarki:
See this old man calling me old man 😁😁 ....well where you get the idea that American oil industry is not subsidized from ? You people just keep spewing nonsense everywhere ...These Nigerian failed politicians have really brain washed all of you so well ..this is how one character was arguing that we don't have electricity because we don't pay enough for it 😁😁

Your age is showing, son.

Also, are you ready to pay the type of tax that the USA pays or compels its citizens to pay to fund that subsidy?

Finally, the money goes to the producers, not to the consumer, as you and your darlings want it to.

Streetinvestor2:
You keep writing trash.

Now, young woman, you need to go home, sit down and have a nice warm cup of cocoa, and you will soon see that the young master loves you very much, but he is still upset about the way his father treated him. It's not you, it's him.

GerogeI:
Stop describing systems you have no idea of how they actually operate. The corruption has nothing to do with subsidy, and predates subsidy. Subsidy came into effect when refineries were already dying, and Nigeria now had to import.

It did. Once there is free money, people would do tings like sabotage to bring in more free money. Subsidy guaranteed free government money that was not enough to keep the refineries running, but was enough to be looted and stolen.

Subsidy meant that there was free money being paid, regardless of whether the refinereies were producing or not. So, some sabo would break things deliberately to attract even more free money

If there was no subsidy, ya think such sabotage would be tolerated? When the earnings of everyone is at stake...and crucially...government is not there to provide any free money?

See the issue?

Let's put it in more formal language, shall we?

Diverting feedstock: Sabotaging pipelines or refinery processing units creates artificial fuel shortages. These shortages force reliance on officially imported fuel quotas, which can be manipulated for illicit subsidy claims

epainos:
As tough as my proposition maybe, to me....the solution to Nigeria's problem is reducing the population drastically. Many people need to go, esp like the author of this article. Lets say Lagos is reduced to N3m from over N30m, and its the highest population in Nigeria, I can imagine the number of useless people that would have gone.

Say amen somebody!

Which of the people?

Specify

Are you referring to the ones that recklessly marry 20 wives and born 100 children without any source of income, no education or skills? Which ?

Don't be hiding to group everybody under one umbrella.

epainos:
As tough as my proposition maybe, to me....the solution to Nigeria's problem is reducing the population drastically. Many people need to go, esp like the author of this article. Lets say Lagos is reduced to N3m from over N30m, and its the highest population in Nigeria, I can imagine the number of useless people that would have gone.

Say amen somebody!

Okay, and I suggest you volunteer your self and your family for the populaton solution so as to set a good example for the rest of us proles.

The primary mistake made by this government was the abrupt removal of fuel subsidy in one fell swoop. It should have been phased out gradually, over a period of 2 to 3 years, with proceeds transparently channeled into nationally managed investments that are clear and accessible to the public.

The second mistake was placing undue trust in state governors, many of whom have a history of poor accountability, to demonstrate the political will to invest in areas that would provide relief to citizens already impoverished by the sudden removal of subsidy.

To reverse or cushion the negative effects of subsidy removal, the following measures should be implemented:

Establish a Subsidy Savings Account targeted at critical areas that will reduce food prices. This should include:
Government-subsidized haulage and trucking services
Affordable public transportation for all commuters
Accessible energy loans to help factories transition from fuel-powered generators to alternative energy sources such as solar
Reduce FAAC allocations to state and local governments to ensure fiscal discipline and direct intervention.
Create sub-national agencies at state and local government levels to implement and monitor direct federal intervention programs.
Reduce the cost of governance. The people must see that government is also making sacrifices to save money in support of ongoing interventions. The burden of tough policy measures must not be borne by the masses alone.

kfasian:
5 STRONG REASONS WHY I SUPPORT ATIKU’S POSITION ON FUEL SUBSIDY

Opinion:

By PastorKay



PastorKay is a
Public Commentator and Social Activist

Atiku has deceived this one. Don't worry you go learn new things when atiku reach there. Tinubu talk pass Atiku that time when pdp dey there na

Nice one. Supported

grandstar:
"Tell me you are not an economic illiterate without telling me you are an economic illiterate."

Atiku is just being a hypocrite. He knows thats what the people want to hear.

Populism and economic bankruptcy can not be divorced.

how is Atiku an hypocrite .. He was the one that started subsidy must be removed, whereas Tinubu maintained support for subsidy ...which is why he promised à ma gbe wa lé, o won ni o mà di 200, 500 è lo fii okan ba le ..howelse if not thru subsidy

TInubu is the Hypocrite by present Reality

Yoruba say leader wey fall teach others for back not to fall

Tinubu fall is a direct lesson to those behind, we thot removing subsidy was the burden mitigating " growth gravity" But since we removed it seeing the adverse effect on lives and what govt have achieved in 4yrs is it worth it.

Atiku making a U turn as shown he is flexible nd pro people because what changed his mind is the excruciating hardship that have descended on Nigeria whereas these cabals n politicial class are still enjoying

The biggiest loser of subsidy removal are the average/common Nigerians ....the rich & politicians are still feeding fat see how much apc allegedly spent in osun election, The real hypocrite is the man that said Let the poor breath buh today every policy of Tinubu depict anti - people. I stand to be corrected bring that policy

I agree with the five points. Note... he said not under the old system which was open to corruption. A big difference is there wouldn't be few middlemen if any. Dangote would be the one and it will be pretty much all local. The only problem I see with the return of subsidy is how to prevent the subsidized fuel from being exported. It must come with new legislation that will serve as a deterrent .... as in a fine twice the full value of the fuel ... confiscation of the tankker/vessel/vehicle and a minimum 3 years imprisonment.