₦airaland Forum

saintkel:
pls I am politically naive of what mid term elections is all about...can u school me on that?

It's the US Congress election. All house of Congress seats and 35 Senate seats are up for election on 3rd of November. If Democrats win majority in both Congress and Senate, Donald Trump will be impeached. If Republicans maintain control, Trump stays till 2029. The outcome of the election will determine how quickly the war is settled.

seunmsg:
Can you explain the inconsistency you're talking about?

Helinues keep disguising....

Where is the money for running the discount coming from?

seunmsg:
Which budget? Budget for what?

Gadaffi9ja:
Where is the money for running the discount coming from?

The oil marketers will bear it. That's the essence of the price ceiling. If landing price plus profit goes higher than N1350, oil marketers will still sell at N1350. When the price goes lower than N1350, they will still sell at N1350 to recover the discount at which they sold when the price was above N1,350. Once full recovery is done, they go back to normal market price.

Sheuns:
Since 1999, this is the most dishonest and unstable federal government I’ve ever since.

Is it as unstable as a balablu bulaba Chicago drug lord high on steroids? Or more unstable than that?




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

Auspiman:
By Asiwaju Bola Ahmed Tinubu

As Nigerians gathered with family and friends to celebrate the New Year, the federal government was baking a national cake wrapped in the scheme that would instantly make the New Year a bitter one. Barely had the public weaned itself from last year when government dropped a historic surprise on an unsuspecting nation. PPPRA issued a statement abolishing the fuel subsidy. By this sly piece of paper, the federal government breached the social contract with the people. This government, which owes its very existence to the people’s desire to be governed by someone more humble than elitist, has turned its back on the collective will. By bureaucratic fiat, government made the most fateful economic decision any administration has made since the inception of the Fourth Republic and it has done so with an arrogant wave of the hand as if issuing a minor regulation. Because of the terrible substance of the decision and the haughty style of its enactment, the people feel betrayed and angry. At this moment, we know not to where this anger will lead. In good conscience, we pray against violence. Also in good conscience, it is the duty of every citizen to peacefully demonstrate and record their opposition to this draconian measure that is swiftly crippling the economy more than it will ever cure it.
By taking this step, government has tossed the people into the depths of the midnight sea. Government demands the people swim to safety under their own power, claiming the attendant hardship will build character and add efficiency to the national economy. It is easy to make these claims when one is dry and on shore. Government would have us believe that every hardship it manufactures for the people to endure is a good thing. This is a lie. The hardships they thrust upon the poor often bear no other purpose than to keep them poor. This is such a time.

I am not calling President Jonathan an evil man. I do not believe he is perverse. However, the economic ideas controlling him are so misguided that they have a perverse impact. Because he is slave to wrong-headed economics, the people will become enslaved to greater misery. This crisis will bear his name and will be his legacy. The people now pay a steep tax for voting him into office. The removal of the subsidy is the “Jonathan tax.” This situation shows that ideas count more than personalities. People may occupy office but how that person performs depends on the ideas that occupy his mind.
Though someday, Nigeria will have to remove the subsidy, the time to do it is not now. This subsidy removal is ill-timed and violates the condition precedent necessary before such a decision is made. First, government needs to clean up and throw away the salad of corruption in the NNPC. Then, proceed to lay the foundation for a mass transit system in the railways and road network with long term bonds and fully develop the energy sector towards revitalizing Nigeria’s economy and easing the burden any subsidy removal may have on the people.
But we know this is about more than the fuel subsidy. It is about government’s ideas on the role of money in better the lives of people, about the relationship between government and the people and about the primary objective of government’s interaction in the economy. It is about whom, among the Nigeria’s various social classes, does government most value. This is why public reaction has been heated. It is not so much that people have to spend more money. It is because people feel short-changed and sold out.
Government seeks to convince us that the Jonathan tax is an unavoidable decision mandated by immutable economic principles. If you accept their premise, you must agree with their conclusion. However, their argument falters at its inception. There are few immutable economic principles. Economics is not an exact science with unbreakable rules like physics.
Economics is no less subjective than politics. It was born an offshoot of politics and there it remains. What this government claims to be economic decisions are essentially political ones. As there is progressive politics, there is progressive economics. As there is elitist politics, there is elitist economics. It all depends on what and who in society government would rather favor. The Jonathan tax represents a new standard in elitism.
This whole issue boils down to whether government believes the general public is worth a certain level of expenditure. It is like the situation where a man dates more than one woman. To each, he promises love thus nothing can be deduced from his words. However, we know he will spend and dote more on one and she will be the one he loves above the others. When banks were in distress, government produced billions of naira out of thin air and in record time. It was explained the swift expenditure was needed to stop the banking system from imploding. There was no worry that government would be bankrupted. If the banks were to fall twenty times in the future, government would jump twenty times to their rescue. It does so because this government lives a conservative economics placing it in close alliance, if not collusion, with corporate power.
However, because the distance between government and the people is far and genuine level of affection is low, government sees no utility in continuing to spend the current level of money on the people. In their mind, the people are not worth the money. Government sees more value in “saving” money than in saving the hard-pressed masses.
Yet, what does government actually save by this measure? The concept of a government that has the unfettered ability to print its own currency needing to save that currency for fear of insolvency is an anachronism. That his economic advisors would cling to this notion is like a person insisting on taking to the expressway in a horse-drawn carriage. For a government that prints its own currency, attempting to save in that very currency in order to defend against bankruptcy in that currency is a relic of the gold standard abandoned forty years ago. If government thrashed the fuel subsidy based on considerations that it will run out of naira then it based its decision on a factor that have not been relevant since the time of the Biafran war........


Signed:
Asiwaju Bola Ahmed Tinubu, January 8, 2012.
https://lawandsocietymagazine.com/flashback-tinubu-on-2012-subsidy-removal-attempt-president-jonathan-breaks-social-contract-with-the-people/

seunmsg:
It's the US Congress election. All house of Congress seats and 35 Senate seats are up for election on 3rd of November. If Democrats win majority in both Congress and Senate, Donald Trump will be impeached. If Republicans maintain control, Trump stays till 2029. The outcome of the election will determine how quickly the war is settled.

ok...I get it now....as my teacher, I'll like to have ur opinion....do u want Trump impeached....if yes...what's d effect of that to Nigeria and d global oil pricing policy....

seunmsg:
There is absolutely nothing inconsistent in the policy. It is price modulation and not reintroduction of subsidy. FG will not pay a kobo to any marketer as subsidy.

Basically, NNPC has agreed to a price ceiling of N1350 per liter. If the landing cost goes higher than 1350, they will sell at 1350 and bear the additional cost. When price then falls below N1350 to let's say N1200 they will recover their cost by still selling at 1350 till full recovery. If price is still low, they can then reduce the price after full recovery.

Not so bad on paper but implementation is key. Apart from NNPC, I am not sure if Dangote and other private sector players in the downstream sector have agreed to this arrangement. It will require serious regulatory monitoring so that Nigerians don't get shortchanged when the prices finally come down.

Anyway, I am hopeful that the outcome of the US election will bring an end or at least a peace agreement to the US-Iran war in the next 30 days.

Confusion Break Bone, CBB is one of Fela’s many hit songs.

You go ṣàlàyé and explain tire about how 6 is different from half of 12.

In any case, Tinubu has always been an inconsistent, ẹfulẹfu and unstable character.

Did he not package Buhari up as APC change messiah in 2015, just four years after calling him expired?

manmade:
You actually thinks na all us dey gullible like the obidients? President Tinubu is the best president Nigeria has ever had and God willing we shall vote for him again

I hate idiots!

Economic policies and reforms are not working..they are going back to fuel subsidy

Tinubu Economic policies and reforms are not working..they are going back to fuel subsidy

saintkel:
ok...I get it now....as my teacher, I'll like to have ur opinion....do u want Trump impeached....if yes...what's d effect of that to Nigeria and d global oil pricing policy....

If Democrats take full control,of Congress, it simply means they want a stop to the war. Trump should get the message and quickly get out of the Iran war before new Congress resumes in January. If he proves stubborn till January, Democrats will impeach him immediately and end the war.

If Republicans maintain control, Iran will have no choice than reach an immediate agreement with Trump and reopen the strait of Hormuz. They are simply holding on to see the outcome of the election.

Once the strait is open, crude oil price will go down considerably to around what it was before the war started. PMS price in Nigeria returns to under N900.

Overall, I think the world will be better without Donald Trump as president of the US. Democrats needs to do the rest of the world a favor by impeaching him.

This particular fg are useless from top to bottom!

DrAda:
No words. It's almost as if we are governed by idiots

At least we are not governed by the dumbo who "won the last election" but has no evidence and regards evidence as unnecessary. Hmmm

seunmsg:
The oil marketers will bear it. That's the essence of the price ceiling. If landing price plus profit goes higher than N1350, oil marketers will still sell at N1350. When the price goes lower than N1350, they will still sell at N1350 to recover the discount at which they sold when the price was above N1,350. Once full recovery is done, they go back to normal market price.

, story...which oil marketers will want to run their business in a lose

seunmsg:
If Democrats take full control,of Congress, it simply means they want a stop to the war. Trump should get the message and quickly get out of the Iran war before new Congress resumes in January. If he proves stubborn till January, Democrats will impeach him immediately and end the war.

If Republicans maintain control, Iran will have no choice than reach an immediate agreement with Trump and reopen the strait of Hormuz. They are simply holding on to see the outcome of the election.

Once the strait is open, crude oil price will go down considerably to around what it was before the war started. PMS price in Nigeria returns to under N900.

Overall, I think the world will be better without Donald Trump as president of the US. Democrats needs to do the rest of the world a favor by impeaching him.

teacher....in as much as I like d world to experience good rate of petroleum products....I still don't like dis Islamic...don't u think Trump is doing d world Favour by curtailing dis guys n d evil they represent...though he may not always be right but d world is peaceful if islamist terrorist r put in place n checks
..my opinion though

No be you people want cheap fuel and return of subsidy?

Now they packaged one give wuna, wuna still dey complain. Abeg, paint your car yellow color and enter enenpeecee filling station jor.

clothingonline:
The fuel is for public bus only it’s not for all so why will you call it subsidy and the price margin is low government just remove NNPC tax on fuel so less than 200naira difference

What do you think a subsidy is? Are the “public buses” not private businesses? Or you people just enjoy playing Ostrich?

It's called SWAN SONG
or somewhat THE LAST KICK OF A DYING HORSE or GREEK GIFT....Such Irony!

Just pack & go!

Enough is enough!

A New and Great Nigeria is POssible
Obi/Kwankwaso will transform Nigeria
Vote Wisely and defend your Votes
BAT/APC MUST GO!

LagosOrigin:
Shame on this Federal government for going back to there vormit of stylishly rein-instating the subsidy

Shame on tinubu

They've seen there defeats in 2027 so they are desperately reversing policies to that has impoverished Nigerians ..

This government is evil

We must kick them out in 2027 because if they win, they will go all about to destroy the little left of this country

There's is no going back on Tinubu leaving office in 2027. Even if he restores subsidy to fuel, he should be kicked out. His sins are beyond fuel subsidy. He is simply a criminal who should never have been made President.

Na real Omo olodo

The drug baron and certificate forger has nothing to offer. Simple!

It's still subsidy.
The name only changed.
Just like the Buhari regime where it was referred to as 'under recovery'

Memphis357:
Baba if you wan help me help me, which one be make I go bring 3 APC supporters wey get sense 🤣🤣🤣🤣

I love this

Lithiumite:
I totally disagree with this policy by tinubu......it throws him off as an inconsistent person......also the details of the policy are shrouded in so much obscurity.

agbero union just smuggled this agbero confused chairman to ruin this country

Federal government of Nigeria reduced to a house of bribery.
30% discount on fuel for 90 days. An attempt to bribe voters in presidential election.

APC and Tinubu's govt are symbol of Fuji house of commotion.

seunmsg:
There is absolutely nothing inconsistent in the policy. It is price modulation and not reintroduction of subsidy. FG will not pay a kobo to any marketer as subsidy.

Basically, NNPC has agreed to a price ceiling of N1350 per liter. If the landing cost goes higher than 1350, they will sell at 1350 and bear the additional cost. When price then falls below N1350 to let's say N1200 they will recover their cost by still selling at 1350 till full recovery. If price is still low, they can then reduce the price after full recovery.

Not so bad on paper but implementation is key. Apart from NNPC, I am not sure if Dangote and other private sector players in the downstream sector have agreed to this arrangement. It will require serious regulatory monitoring so that Nigerians don't get shortchanged when the prices finally come down.

Anyway, I am hopeful that the outcome of the US election will bring an end or at least a peace agreement to the US-Iran war in the next 30 days.

It’s amazing how you shamelessly defend this government.

So, Atiku’s promise to restore fuel subsidy has suddenly thrown you people into panic mode? The same subsidy you defended its removal over and over again is now becoming a problem because an opposition figure has proposed an alternative?

Wasn’t this the same Tinubu whose government’s response to Nigerians’ suffering was essentially that there was little or nothing he could do? The statement commonly attributed to him was along the lines of, “How I wish there was something I could do, but there is nothing I can do.”

But here is the real question: if the government now has options to intervene and cushion the impact of rising petrol prices, why did it take an opposition proposal to bring those options to the forefront?

For millions of Nigerians, the consequences of subsidy removal have been devastating. Families have struggled with rising transport fares, food prices and the general cost of living. Yet, the government has repeatedly asked them to endure the hardship in the name of economic reforms.

Now that a proposal to ease that hardship has emerged from the opposition, the government is suddenly explaining what can and cannot be done.

So, was there genuinely no alternative, or were Nigerians simply expected to bear the pain while the government stood by?

And if these interventions were possible all along, why did ordinary Nigerians have to endure so much hardship before the government began discussing them?

The question is not whether Atiku’s proposal is perfect. The question is why affordable living conditions suddenly become a political priority only when an opposition figure proposes a solution.

What a shame!

seunmsg:
There is absolutely nothing inconsistent in the policy. It is price modulation and not reintroduction of subsidy. FG will not pay a kobo to any marketer as subsidy.

Basically, NNPC has agreed to a price ceiling of N1350 per liter. If the landing cost goes higher than 1350, they will sell at 1350 and bear the additional cost. When price then falls below N1350 to let's say N1200 they will recover their cost by still selling at 1350 till full recovery. If price is still low, they can then reduce the price after full recovery.

Not so bad on paper but implementation is key. Apart from NNPC, I am not sure if Dangote and other private sector players in the downstream sector have agreed to this arrangement. It will require serious regulatory monitoring so that Nigerians don't get shortchanged when the prices finally come down.

Anyway, I am hopeful that the outcome of the US election will bring an end or at least a peace agreement to the US-Iran war in the next 30 days.

Nigeria has crude oil. Nigeria has Dangote in addition to other smaller refineries, so why would fuel prices in Nigeria be affected by possible outcome of a future election in far away US and how the election results will affect the US-Iran war?

You could as well tell your readers that fuel prices in Nigeria shall depend on the outcome of the next America's NASA expedition to the moon.

By the way, Nigeria is a sovereign country and should remain immune to outside influences, according to your lot.

Here you actually presented the confused state of the Tinubu administration.

That Nairalanda1 boy go dey somewhere now dey reason all eim primary school Economic mumbo jumbo that he kept going on about regarding this sham subsidy removal.

Trust him to tacitly back Tinubu anyway in the guise that Atiku wants subsidy back.

To you but not to me..

Sonofgod1990:
Useless government. Nnnn

Rayjay45:
That Nairalanda1 boy go dey somewhere now dey reason all eim primary school Economic mumbo jumbo kept going on about regarding subsidy.

Trust him to tacitly back Tinubu anyway in the guise that Atiku wants subsidy back.

Sorry son, but the government has added debt on top of your life by bringing back the subsidy in form of discount.

Good morning, and Tinubu is still a bad deal for Nigeria and he must go.