₦airaland Forum

cr7lomo:
But the borrowing now under this government has surpassed the borrowing of other governments that were subsiding fuel

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

Funkyswagzz:
I really want to insult you so bad cos most countries pay subsidy but due the fact that Nigerian know how ruin good things, you can't manage yourself, therefore subsidy looks like the worst thing ever. Those criminals are still operating as they wish and I hope you are getting your share cos if you are not....

Switruth:
Dangote just dey misbehave. Time will come when he'll realize what he's done to Nigerian people. It's not funny at all.

Mad people everywhere

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.


https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-price-goes-viral-amid-hike/



https://www.youtube.com/watch?v=4JH8CC_JdUA

FarSide:
Have the masses felt any positive changes in the Nigerian system because we are paying higher on fuel?? Is there any improvement on power, roads, education, healthcare or transportation??

Godszilla:
https://punchng.com/petrol-hits-n1395-litre-as-dangote-hikes-price-again/

anonimi:
In what way is Atiku not better than Tinubu in governance policies?

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

Switruth:
Dangote just dey misbehave. Time will come when he'll realize what he's done to Nigerian people. It's not funny at all.


Mad people everywhere

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

LeeSmart:
This APC guy is very funny, you have been talking about borrowing since like your Lord and personal saviour Tinubu has not been borrowing and at the same time made things worst for Nigerians compared to the past presidents? Well I don't blame you, you need to defend this regime in other for ur 30k monthly stipend to be assured.

LeeSmart:
This APC guy is very funny, you have been talking about borrowing since like your Lord and personal saviour Tinubu has not been borrowing and at the same time made things worst for Nigerians compared to the past presidents? Well I don't blame you, you need to defend this regime in other for ur 30k monthly stipend to be assured.

ZombieDredd:
You are not a honest person.

So have they not been borrowing even after "removing" subsidy?

The borrowing it entails indeed.

Almost every quarter, tinubu is borrowing since 3 years now but go on.

Una just dey as wicked as the tinubu

dival247:
The evil man as come again in Saudi 770 naira per litter , what is the reason I told u he try to sale shares if any things come up in future we are they together

nairalanda1:
Thanks. And good morning to you, son

ufotunang:
Nawaaooo.. renewed hope to renewed shege

anonimi:
NNPCL’s subsidy payment jump by 47.9% to N7.1trn in 2024

November 26, 2025

The Nigerian National Petroleum Company Limited (NNPCL) paid a total of N7.1 trillion as subsidy for premium motor spirit (PMS) in 2024, this sum represents a 47.9 percent increase from N4.8 trillion recorded in 2023.

This is despite the government’s announcement of subsidy removal in 2023.

The company explained that the amount, which it termed ‘energy security expense’ arises when there is differential between the exchange rate used to freeze the premium motor spirit ex-coastal price and the prevailing rate at the point of import settlement.

According to the report, government had instructed that NNPC Limited cannot sell its PMS above a certain regulated price. It added that the cost of petrol import is usually much higher that the regulated price.

https://businessday.ng/news/article/nnpcls-subsidy-payment-jump-by-47-9-to-n7-1trn-in-2024/?amp

LeeSmart:
Morning Daddy, I hope that makes you happy?😁

nairalanda1:
It is the cold hard truth.

You just do not want toaccept it.

Plus shouting up and down that something is a lie without offering evidence is not refutation, it is you just being rhetorical.

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

Omalicious1:
I'm just laughing. After the price of petrol in Iran and how the government handles their subsidy structure, I just had to shake my head and feel a string pity for the common man on the street.

chudez0147:
But they have removed subsidy and they are still borrowing. What is the point?

For you to write this long story only means one thing. You are apc agent ✅

nairalanda1:
The ripple effects of maintaining subsidy for a long time...our large national debt, are already being felt by the masses.

Subsidy was already a problem by 1992, when we were warned, not for the first time, to remove it. We said no, and the spiral began.

Ofunaofu:
I am not shouting but laying down the facts

Before, the excuse was that the former regimes were borrowing money to pay fuel subsidies. Yet, ironically, the Tinubu regime, which claims it is no longer paying subsidy has borrowed more money than all the previous governments that were paying subsidy.

Now the excuse has changed: we are being told that those former governments were printing massive amounts of money to pay for subsidy.

It’s all the same thing: lies, falsehoods, misinformation, deliberate propaganda, and a carefully manufactured false narrative that this Tinubu government sold to Nigerians.

The excuse before now was that Nigeria had no functioning refineries, so our fuel had to be imported and the price was therefore affected by the naira-to-dollar exchange rate.

Today, we have Dangote Refinery. And Dangote Refinery has said it has the capacity to refine enough fuel to meet local consumption. Yet the government has reportedly failed to supply the refinery with the crude oil it needs, forcing it to source crude from abroad and at international prices.

Then what happened to the naira-for-crude arrangement between the Tinubu government and Dangote Refinery?

Of course, that arrangement has been abandoned and discarded.

And what about our national refineries? Why has the Tinubu government refused to take decisive action to get them fully operational after all the billions reportedly pumped into their turnaround maintenance?

So, you see why I keep saying that the claim that previous governments were printing money to pay subsidy is nothing but lies, falsehood, misinformation, and deliberate propaganda.

Because when one excuse stops working, another one magically appears.

The narrative keeps changing. The suffering remains.

At some point, you have to stop changing the story and start answering the questions.

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.