₦airaland Forum

Fuel Subsidy: The $10 billion that would have been spent on the importation of fuel—where is it?
The naira, the exchange rate, has been devalued. So it's been eaten up by devaluation and other neoliberal policies of the government.

-Femi Falana (SAN), Human Rights Lawyer

#SundayPolitics

Fuel Subsidy: The $10 billion that would have been spent on the importation of fuel—where is it?
The naira, the exchange rate, has been devalued. So it's been eaten up by devaluation and other neoliberal policies of the government.

-Femi Falana (SAN), Human Rights Lawyer… pic.twitter.com/Jqv0zQdIoc

— Channels Television (@channelstv) August 30, 2026

APC have stolen over N500 Trillions in the last 12 years. We need to remove them so that we can recover all the stolen wealth

The level of impunity committed by this cankerworm APC administration is deeply troubling that It would take a strong willed leader to clear the rot they created.

LOL, i hate to do this, really, especially since I am no supporter of this government, but

1. Most of that money is probably in the federation account, being shared to states and FG
2. Most of the money is being used to pay salaries and exectue projects and do stuff like NELFUND.

Now, 10 billion is SCANTY. for a nation our size, which is why even though the above has been done, it is still not a success for the government

Salaries are being paid, yes, but they are not adequate, and need to be increased, which is what state governments are afraid of ....and which may lead to more borrowing when the day comes. NELFUND Is just a bandaid on a wound that needs massive surgery.

The real koko is that government is not making enough money by diversifying the economy.

(If you read the bolded and think that it consititues a defence of APC, it is like you are the kind of wife that defends her husband's refusal to provide for his family by not getting a job, but by being lazy by saying that he is a dependable husband, he just does not make money. Well, woman, if he got a job he might make enough money for the house!)

Validated:
APC have stolen over N500 Trillions in the last 12 years. We need to remove them so that we can recover all the stolen wealth

Do you have a source for the above? (Not a government supporter, would be ecstatic if you could give me a source..so that I can blast the government more effectively.).

Did some checking. 500 trillion is far more than our budgets and economic output since independence, so you are essentially lying.

iwaeda:
Fuel Subsidy: The $10 billion that would have been spent on the importation of fuel—where is it?
The naira, the exchange rate, has been devalued. So it's been eaten up by devaluation and other neoliberal policies of the government.

-Femi Falana (SAN), Human Rights Lawyer

#SundayPolitics

Fuel Subsidy: The $10 billion that would have been spent on the importation of fuel—where is it?
The naira, the exchange rate, has been devalued. So it's been eaten up by devaluation and other neoliberal policies of the government.

-Femi Falana (SAN), Human Rights Lawyer… pic.twitter.com/Jqv0zQdIoc

— Channels Television (@channelstv) August 30, 2026

Why are some people asking this kind of Question?

The more money the States, LG and FG is getting, where's it coming from?

nairalanda1:
LOL, [b]i hate to do this, really, especially since I am no supporter of this government, [/b]but

1. Most of that money is probably in the federation account, being shared to states and FG
2. Most of the money is being used to pay salaries and exectue projects and do stuff like NELFUND.

Now, 10 billion is SCANTY. for a nation our size, which is why even though the above has been done, it is still not a success for the government

Salaries are being paid, yes, but they are not adequate, and need to be increased, which is what state governments are afraid of ....and which may lead to more borrowing when the day comes. NELFUND Is just a bandaid on a wound that needs massive surgery.

The real koko is that government is not making enough money by diversifying the economy.

Enough of the camouflage.
You are a supporter of this administration
Your comments on this forum including this validates it’s policies.
No one will beat you if you openly identify with the oppressive Tinubu’s administration

aworatak:
Stop with the camouflage.
You are a supporter of this administration
Your comments on this forum including this validates it’s policies.
No one will beat you if you openly identify with the oppressive Tinubu’s administration

You did not see where I said that our government's problem is that they are not making enough money.

And you did not see where I pointed out that states cannot increase salaries because they and the federal government have failed because they are not making enough money.

Is pointing out that government has failed in making money the same thing as saying I support APC?

Oga, you people, be as if say you cannot read english.

Modifed

The guy has fourteen likes, which shows the level of education in this country.

Well, as they say, it is a difficult thing to cure people. Very difficult,

Let me make myself clear.

APC is falilng NIgeria by not diversifying the economy and our revenue streams which is why we are not earning enough money to make cash for subsides...which is why we got to vote them out.

Somehow saying the above means I am defending APC.

My God, the level of lack of knowledge among Nigerians is bad. Really bad. They cannot think, they just parrot slogans. And if you do not agree with the parrots, you are their enemies...even when you come to the same conclusion they come to, that APC Must go.

Parachoko:
Why are some people asking this kind of Question?

The more money the States, LG and FG is getting, where's it coming from?

Were the LG, States and FG not getting money when subsidies were paid?

And pls don’t bring the “they get more allocations now” talk.

Sheuns:
Were the LG, States and FG not getting money when subsidies were paid?

And pls don’t bring the “they get more allocations now” talk.

Why is it that some states like Abia state were struggling to pay civil servants and pensioners back then?

Now, states are comfortably paying and carrying out projects

Who ever that takes over from Tinubu shud declare a stay of emergency and suspend the constitution for two years and used decrees to go after APC and fire squad the worst of them

What is the value of more money, May 28, 2023, N12k will fill my 60 liters SUV. Today, N82k will fill same 60 liters SUV. If you give me 4 times what I get in 2023, it doesn't match my expenditures. So if you cry more money to states, please what is the value,you people that are blindly supporting without thinking.

Nlfpmod.

States and local government are not get more money. They are not getting more value, rather what they used to get is now denominated in smaller units, so for same value of money the nominal numbers is higher.

So where is the 10 billion USD from subsidy savings? That's enough to build a brand new refinery. Refine our own crude.

iwaeda:
What is the value of more money, May 28, 2023, N12k will fill my 60 liters SUV. Today, N82k will fill same 60 liters SUV. If you give me 4 times what I get in 2023, it doesn't match my expenditures. So if you cry more money to sates, please what is the value,you people that are blindly supporting without thinking.

that was N12 K plus a lot of debt, which eventually caused the abandonment of the subsidy in the first place.

GerogeI:
States and local government are not get more money. They are not getting more value, rather what they used to get is now denominated in smaller units, so for same value of money the nominal numbers is higher.

So where is the 10 billion USD from subsidy savings? That's enough to build a brand new refinery. Refine our own crude.

lol...Dangote originally budgeted 9 billion for his refinery. Final cost 20 billion dollars.

Plus you are right, the salaries are being paid, but when the time comes to increase salary payment, palaver dey.

Also, our crude is being refined domestically by Dangote plus six other small refineries. BUA would soon join them. Had we removed subsidy in 2012, we would have had even more refineries. Not just dangote.

Fuel is N1330 today.

Someone should tell Falana that Tinubu’s government is still actively importing fuel. This is part of the reason why fuel remains expensive. Atiku will introduce production subsidies for local refineries because he does not have a stake in Malta.

Baba just forget that matter for now.

Validated:
APC have stolen over N500 Trillions in the last 12 years. We need to remove them so that we can recover all the stolen wealth

The 53 billion dollars foreign reserve savings where does it come from?

Validated:
APC have stolen over N500 Trillions in the last 12 years. We need to remove them so that we can recover all the stolen wealth

How do we go about to recover the over 500 Trillions Naira now?
Where did they keep the money?

Politicians have stolen all the resources of our nation since independence they stole money their incoming generations cannot finish!

500 Trillion?
Ehn ehn!
Politicians are evil sha!
They must vomit the stolen money,
No matter the political party they are!

We believe you should be talking of 500 Trillion Naira right?

Converting that to dollars bring that to......

$373,675,321,000.00
And written out in words is:

Three hundred seventy-three billion six hundred seventy-five million three hundred twenty-one thousand dollars!!

Just imagine what this huge amount can do in our darling nation!

What money?

Is there a contract in our constitution that embraces fuel subsidies?

Can we get an answer to this question please and also this.....

Atiku to Obasanjo.......

Tinubu government is operating like a ponzi scheme...maybe they're using it to lobby Americans to keep tinubu amazing records secret

Parachoko:
Why is it that some states like Abia state were struggling to pay civil servants and pensioners back then?

Now, states are comfortably paying and carrying out projects

It’s simply because they have a much more compassionate and better leader (governor).

People talk as if the money is somewhere waiting to be spent! Please was there budget for fuel importation currently?

It was used to build 1000 bridges in each of the geo political zone

Used to purchase 100,000 CNG power buses that have been distributed by Tinubu's CNG initiative in each state

50 health centers have been built in each ward nationally

150 roads have been built in each state to cushion the effects

There is a rail service in each state of the federation to provide alternative means of transport... Just to name but a few

Tinubu for lifetime president

Scammer

The dru9 dealer has been spending the subsidy money on FBI against the release of his cr!Minal files.

Yeye man

[quote author=MANNABBQGRI,LLS post=140499269]Can we get an answer to this question please and also[/quote]Go to Buhari's grave to get him to come back and keep washing Nigeria like you always posit.

Mr Falana, if you ask me , na who I go ask ? APC , Tinubu and the entire zombie apocalypse terror, please do not leave the room, because dis question is for you guys.

nairalanda1:
LOL, i hate to do this, really, especially since I am no supporter of this government, but

1. Most of that money is probably in the federation account, being shared to states and FG
2. Most of the money is being used to pay salaries and exectue projects and do stuff like NELFUND.

Now, 10 billion is SCANTY. for a nation our size, which is why even though the above has been done, it is still not a success for the government

Salaries are being paid, yes, but they are not adequate, and need to be increased, which is what state governments are afraid of ....and which may lead to more borrowing when the day comes. NELFUND Is just a bandaid on a wound that needs massive surgery.

The real koko is that government is not making enough money by diversifying the economy.

The man was asking unreasonable questions