₦airaland Forum

I for see a revolution coming or anarchy, telling someone who survives on N18000 to be patient? Corruption will definitely increase, just wait and see...

Isaacmacdon:
This is a löng nd uninspiring post! I can gladly say.. We've got stooges as "shakers".. Its ridiculous. U talk of tackling corruption in d downstream! Av u been sleeping or did u just steppd foot into planet earth 4 d first time? If d NLC turn a blind eye to dis situatn then it shows how ridiculous nd compromising humans can be! They shutdown nigeria for close to a week or more.. Truly ntin z hidden under d sun,all would be reviewed in no time! Corruption z a global thing! Can a man stop corruption? Vry much impossible! Well we shud jst look forward to a new world with a new government which would b ruled by the saviour n also the perfect being..

looking 4wards to see u under that government that will be rule by Jesus Christ.it will indeed be a perfect n peaceful government

Standing5:
Also it is time to ditch 100w bulb that can be replace by a 40w energy saving bulb.

This will only happen if prepaid meters are made available to every home.

GAZZUZZ:
excellent write up. Meanwhile this is a good time to ditch those V8's and cling on to a 1.3liter.

1.3liter ke.. You? Yimu

[size=18pt]Thank you Mr writer, the APC Secretary and Information minister. Can I ask you few questions that demand your answer.
1. All these advantages as you explain, were they disadvantages to the masses when GEJ was the president of this country?

2. Were all these advantages not reasonable when APC members, as an opposition then, said there was nothing like subsidy?

3. Were all these advantages not reasonable when APC members, as an opposition then, said PMS(petrol) supposed to be sold at 50 naira per litre?
4. Why are they reasonable now that the then opposition party has come to power, to be used as justification to believe there is what is called, subsidy? The PMS that supposed to be sold at 50 naira per litre as they believe is now going to be sold at 145 naira? APC! APC!!APC!!![/size]

joseph1832:
The most important thing is how will people survive before things get better?

As in my brother,Na dat 1 be d koko

1. So subsidy is no longer a scam.
2. Is this part of Buhari's campaign promises?
3. Mr writer, who says that the money save will not be used by your man to travel to more fifty countries.
4. You said Government will now build more refineries while they cannot maintain the few they have now.
5. You are not also aware that the competition will put pressure to the demand for foreign currency.
6. Key product like this which has spill over effect to every basic needs of Man should be managed and controlled by Government.
7. How many littres of fuel can Buhari's minimum wage buy.
Stop deceiving us.

Nigerians don't like to suffer for their country jare, all we want is a wonderland that shows up like magic and the only place that it happens is in dreams and hollywood movies.

GAZZUZZ:
excellent write up. Meanwhile this is a good time to ditch those V8's and cling on to a 1.3liter.

Noted

Pidggin:
Subsidy was the only steady benefit we were gaining from our oil wealth. OP before you wrote your epistle you should have researched other oil producing countries. Most of them subsidize fuel and still provide basic amenities

You can deceive gullible Nigerians, but not some of us who are exposed

Those countries provided the basic amenities (and advanced) by judiciously using the subsidy removal's monies after passing through a very painful sacrifice stage when the subsidy was removed initially
-
On the certainty of the judicious use (and not heinous loot) of the fuel subsidy monies in Nigeria's case, Buhari's zero-tolerance for corruption would ensure the judicious use of the monies!
-
The need for increased minimum wage to match conditions cannot be overemphasized!

Nikapetrelli:
As in my brother,Na dat 1 be d koko

This is the one thing these our economic analysts fail to see, with all their fancy economic policy that doesn't understand the nigerian situation.

@toks 2008,nice one! Please let me use this opportunity to add to what you have just writing out there.the removal of subsidy at this point in time is one of the best thing the president has done. It will give room for foreign investors to come and build more refines and equally create job opportunities for this great country. using GSM as a case study, when it was newly initiated, line was sold for 30k-28k bet, with the emerging of other network like etisalat, glo, airtel mtn etc today line are now sold for one hundred naira.please let applaud Mr president for once he has shown that he truly wants the betterment of this great country. by not the valuing the naira....learn to pray for the direction of this great country...

Time can really change things o......smbh. In all,we hope and pray for the best

MNDY:
Those countries provided the basic amenities (and advanced) by judiciously using the subsidy removal's monies after passing through a very painful sacrifice stage when the subsidy was removed initially

You shouldn't use advance countries as a basis for comparison here. You forget that these countries have shown an unending penchant for knowing what they're doing, in terms of implementing policies meant for improving the lives of their citizens.

On the certainty of the judicious use (and not heinous loot) of the fuel subsidy monies in Nigeria's case, Buhari's zero-tolerance for corruption would ensure the judicious use of the monies!

What results have PMB's sub zero tolerance for corruption yielded, its almost a year now and nothing we've sEen so far as resulted in the imprisonment of those who looted and squandered our common wealth.

You should know that PMB is just one man, in the midst of many men who live, wine and dine in corruption.

The need for increased minimum wage to match conditions cannot be overemphasized!

True that! But still, you expect the governors who can't pay 18k minimum wage to pay this recent increment (if there is).

Our say this fuel subsidy removal came at the wrongest of time. It the government is proving day by day that they don't know what they're doing, neither do they know and understand the suffering of the masses.

pryncexcel:
@toks 2008,nice one! Please let me use this opportunity to add to what you have just writing out there.the removal of subsidy at this point in time is one of the best thing the president has done. It will give room for foreign investors to come and build more refines and equally create job opportunities for this great country. using GSM as a case study, when it was newly initiated, line was sold for 30k-28k bet, with the emerging of other network like etisalat, glo, airtel mtn etc today line are now sold for one hundred naira.please let applaud Mr president for once he has shown that he truly wants the betterment of this great country. by not the valuing the naira....learn to pray for the direction of this great country...

In the mean time, what will happen to that man who has to pay twice the amount he pays to work everyday?

@OP... I thank you for your candidly placed write-up. It is like the penalty expertly placed by Lionel Messi with the keeper rooted to the ground like a hapless grass-cutter. but wait oooh... all you have said is FACT but let us run by your FACTS one by one


Advantage 1. It reduces Corruption in the Downstream Sector
On the surface it is a sleek and sound statement but who controls the downstream sector? Kachikwu Ibe continues to tell Nigerians what we already know - Emeka Offor crippled Nigeria's capacity to refine crude so much that since early 90s we are yet to meet the OPEC Minimum crude export allocation http://www.tradingeconomics.com/nigeria/crude-oil-production It is within this ambit that Petroleum Marketers continue to rip-off both the FG and the Consumers.. guess what. the FG has succeeded in removing a huge USD$ wastage from the hands of the suppliers.. Kudos. but who will bear the brunt of this loss - you guessed it. Consumers like your and I. The Marketers do not operate in the Up or Mid-stream which has suffered the brunt of low crude prices.. they will source Forex from whatever source and we will pay way above N145 to get petrol from sources other than NNPC who cannot fulfill consumption needs of up to 5% of Nigerians. we are told refining the product is far more costly than importing it.. so will the cost savings from subsidy removal be used by NNPC to import the product? NO.. FG will build refineries to make petrol that is more costlier than importing it. I don't see the sense in this approach

Advantage 2. Provision of Basic Amenities
You seem not to have reviewed the budget and see where the focus and priorities lie.
I have left an infographic here for your information (please let the masses know in your usual candour)
https://yourbudgit.com/wp-content/uploads/2016/04/Number-12-768x543.jpg



Advantage 3. Reduction of Government Debt
There is no reduction in FG debt.. I am not sure how you came about that.. FG debt profile continues to rise. locally and Internationally (debt obligations in form of FG and State Bonds, . The Subsidy Removal is not money that has been allocated then removed. It has not even been spent to the point of deficit. This link is for your kind information http://www.tradingeconomics.com/nigeria/external-debt
http://cdn.tradingeconomics.com/charts/nigeria-external-debt@2x.png?s=nigeriaextdeb&v=201604041747n

Advantage 4: Increase in Foreign Reserves
How do you sell petrol in Naira and increase foreign reserves in USD$.. if I recall Ghana is still using Cedis and Cotonu Francs or Kwachas or sumthn. You Increase FX Reserves by Trading internationally and our sweet crude which accounted for nearly 98% of our FX Reserves has all but disappeared. Think about that first.

Advantage 5: Establishment of more refineries
When International Oil Multi-nationals and Oil Giants were selling off their downstream assets.. what did you think they had in mind or saw ahead. (They saw today).. Please refer to demerits of Advantage 1

I lost track but Competition and Transparency will not happen as a result of Subsidy Removal - It happened yonks ago during OBJ's regime.. it was called DEREGULATION which birthed the Bureau of Public Enterprises. It was not Transparent then.. it is not transparent now. COMPETITION YES.. but it took us 15+ years for SIM Card to drop from N30,000 to N1,000 are we to wait for BUHARI/APC for another 15+ years to start reaping the benefits of Competition and Transparency?

For your kind information readers
The downstream sector refers primary stakeholders controlling the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas.

pryncexcel:
@toks 2008,nice one! Please let me use this opportunity to add to what you have just writing out there.the removal of subsidy at this point in time is one of the best thing the president has done. It will give room for foreign investors to come and build more refines and equally create job opportunities for this great country. using GSM as a case study, when it was newly initiated, line was sold for 30k-28k bet, with the emerging of other network like etisalat, glo, airtel mtn etc today line are now sold for one hundred naira.please let applaud Mr president for once he has shown that he truly wants the betterment of this great country. by not the valuing the naira....learn to pray for the direction of this great country...

GSM ushered in at the time naira exchange rates wasn't officially artificially fixed (pegged). But now nnpc will have competitive advantages by using official fixed rates to source exchange and sell for N97.00/liter. While others will source exchange from higher parallel market rates, and sell for up to N145.00/liter.
Eventually other importers will expliot the discrepancy loopholes. One such, is others buying from nnpc@N97 for resales @N145.00 or higher, rather than importing anything. Eventually leading to scarcity and higher prices. This same uneven playing field will discourage foreign direct investment.
Remedy is to unpeg naira for even playing field, as would have obtained in Jonathan's era subsidy removal of market determined naira exchange rates.

MNDY:
Those countries provided the basic amenities (and advanced) by judiciously using the subsidy removal's monies after passing through a very painful sacrifice stage when the subsidy was removed initially
-
On the certainty of the judicious use (and not heinous loot) of the fuel subsidy monies in Nigeria's case, Buhari's zero-tolerance for corruption would ensure the judicious use of the monies!
-
The need for increased minimum wage to match conditions cannot be overemphasized!

Please get your facts right, most oil producing countries still subsidize fuel for their citizens. Are you aware that fuel is presently 23 cents/litre in Lybia? Yet before the war, they had almost 100% basic amenities.

What year was fuel subsidy removed in Lybia?

Built2last:
It's not as though Nigerians do not know that fuel subsidy is long over due for removal but certain things have to be in place to cushion the effect.

First the president has to come clean and lead by example.
He has to do the following

Get the 4 refineries optimally running

Sell off 8 of the 11 presidential jets hanging at Abuja airpot and tell us what the money will be used for.

Increase tax on the rich. Like property tax. Own more than one property and pay heavy tax on the rest.

Get our rail ways up and running to ease transportation

Deploys policies that will check inflation.

Increase the minimum wage to atleast 50k

Call labour for negotiation afterwards and make public every deliberation.

The masses will support you.

This English you typed here op will not make sense to Nigerians next week bearing in mind that commodity prices will skyrocket without a corresponding increase in income of the people.

Taxi from Garki to Wuse in abuja that used to be 400 naira is now 800 naira.

A bag of rice I was told went to 25k from 15k yesterday.

A basket of tomato is 27k in Kano state today. That's where it's produced.

For your information, what the government did was price modulation to knock off subsidy payment by government. They have simply told the masses to pay. The petroleum sector was not deregulated. If you deregulate, you don't determine prices and so the government can not fix 145 naira. When you deregulate, you leave pricing to market competitors. Shell, Texaco, Chevron, Asda in UK, many other giants will move in to compete. They fix their prices and the masses can choose what price is most suitable for them. A good example is the telcom sector that was fully deregulated. Did you ever here the government telling MTN, Econet or Gloss how much to fix sim cards or charges on call? Because in a deregulated sector every manufacturer charges
based on the factors and modes of production.

For every cause there is an effect.

Any leader who puts his people first thinks of the immediate impact of his policies on the people and commodity prices.

I am #Built2last and I just want to correct your paradigm @op

Good write up

CaptainBomb:
you mean you are pleased with the way our wealth is being loot under previous administration? Lets put sentiment aside, with all this corruption cases here and there under Jonathan i don't expect a well educated someone like you to come up with this kind of comment even after reading this write up.

Imagine if GEJ had rounded up all these criminal politicians in APC who are today claiming saints? I detest hypocrisy and every form of injustices.GEJ is still to blame for arming APC with neauclar warheads to insult every single Nigerian and give reasons why all their campaign promises can't be achieved.

1. IT REDUCES CORRUPTION IN THE DOWN STREAM SECTOR:[/b]

According to the statement made by the former finance minister and coordinator of subsidy removal, Dr. Ngozi Okonjo Iweala. “ The removal of oil subsidy will drastically reduce corruption in the down stream sector.” Moreso, deregulation will also help to end the waivers enjoyed by powerful “cabals” at the expense of the Nigerian people...
I do not understand this part. How is the fuel subsidy causing corruption? Who are the cabals and why can't government probe them?
Pls OP and/or anybody that understands this should explain please. I sky wanna know

Toks2008:
Over the years Nigerians have been faced with series controversies surrounding subsidy removal and many Nigerians have frowned against this with great ferocity each time the government of the day makes any move to remove it either totally or partially.

Many opposition bodies have used this to campaign against the government of the day and that was the case during the period of President Goodluck Jonathan and many Nigerians were also made to believe that it was indeed a callous move by previous governments to inflict hardship on Nigerians but just yesterday,we got a very surprising news that the APC led government have decided to finally remove subsidy as Petrol will now sell for a maximum of N145 per liter..

The question on the minds of many is why was there a strong move against this in the past? could it be to lack of proper sensitization of the populace by the previous governments?or was it because the lack of trust in the previous administrations or shall we say we have suddenly realized the true picture of the situation on ground? I guess these are questions we will continue to ask ourselves but this write up will address the reality and advantages of subsidy removal from a very layman's perspective and professionals are welcomed to shed more like and correct any form of misinformation.
[size=13pt]
THE REALITY[/size]

FUEL SUBSIDY:
Understanding the madness called “fuel subsidy” requires a walk down memory lane. However, let me start by saying a country like Nigeria, which is also the largest crude oil exporter in the African continent, imports fuel into the country.YES we know this makes no sense. Unfortunately, it does. Nigeria has four national refineries that are barely functional because of the country’s poor planning and maintenance culture, and even more, our refining plants are aging while the pipelines linking these plants have lacked adequate investments and they are terribly unreliable to support uninterrupted domestic production and sadly enough as determined as the government are in ensuring that these refineries are repaired,some interest groups have taken up the habit of destroying these facilities thus Nigeria is forced to refine its crude oil resources outside its borders and then it imports the refined products, mostly from European suppliers, to satisfy the energy needs of its large population.

WHO BENEFITS MORE FROM FUEL SUBSIDY?
Now lets assume the governments spends an average of N40 to subsidize a litre of petrol that is bought by each Nigerian,it means for every 20 liters you buy, the government helps you to pay N800. But the truth is that the rich benefits more because in a month they buy thousands of liters to power their office,homes,cars and so on while an average citizen with a tight budget might just manage to buy 50litres in one month.
[size=13pt]

Lets ask each other this question;Does it make sense for a government to spend over 1 trillion naira on fuel subsidy yearly to help the rich while lesser amount is marked for other infrastructures that would impact more positively on the average man?

Now lets take a quick look at 7 advantages of subsidy removal:[/size]

1. IT REDUCES CORRUPTION IN THE DOWN STREAM SECTOR:

According to the statement made by the former finance minister and coordinator of subsidy removal, Dr. Ngozi Okonjo Iweala. “ The removal of oil subsidy will drastically reduce corruption in the down stream sector.” Moreso, deregulation will also help to end the waivers enjoyed by powerful “cabals” at the expense of the Nigerian people...this needs no explanation.

2.PROVISION OF BASIC AMENITIES

The Nigerian governments spends over 1 trillion naira on fuel subsidy each year and this has made it extremely difficult to provide other amenities that would impact more directly in the lives of the citizens. However, if half of the money spent oil subsidy is channeled to other sectors of the economy, Nigeria would have been better for it. Consequently, the money saved from subsidies will be used to improve infrastructure, building good roads and bridges, fund agriculture,pay higher salaries,improve education and health sectors.

3.REDUCTION OF GOVERNMENT DEBT

According to the words of the former Central Bank Governor, Malam Sanusi, one of the long term benefit of the withdrawal of the subsidy is the reduction of government debt and at least help direct that debt to the finance of infrastructure that should create jobs and more inclusive growth. However, it is important to note that Nigerian government often borrow to enable it finance this oil subsidy so as to make the petroleum pump price affordable to a few rich Nigerians who operate or control some of the devices which actually consume the petrol.

4. TRANSFORMATION OF THE PETROLEUM SECTOR

A lot has been said of corruption in this nation, and the time is now to effect the change we need. Reformation of the oil sector which is the life wire of the nation could take the lead.

5. INCREASE IN FOREIGN RESERVE AND SAVINGS

With subsidy removal, Nigerian, government will get to keep more of the money raised from sales of its petroleum product and savings made on its foreign earnings, this will uplift the countries foreign reserves and greatly improves our ratings by international agencies.

6. ESTABLISHMENT OF MORE REFINERIES

It is noted that since 2000, government of Nigeria had issued licenses for refineries, but none was been built for these reason. This is not unconnected to the financial and structure imbalance created in the huge sums, of money expended on petroleum subsidy. However, it is obvious that with subsidy removal, Nigerian government can now use the money saved from subsidy to build refineries which will inturn provide enormous opportunities for employments of our jobless youths.


7. MAKES WAY FOR TRANSPARENCY AND COMPETITION IN THE OIL INDUSTRY

When petroleum subsidy which is rife with corruption and unhealthy practices is no longer there, transparency and healthy competition will return to the petroleum industry.


Lets give the government a chance and make this sacrifice with hope that we will have a new story to tell.Yes we may see a sharp increase in the price of commodities and transportation but in a short while, we will see the positive outcome just as we now see in previously deregulated sectors.

You know this and you can't state it during Jonathan regime.

Standing5:
Also it is time to ditch 100w bulb that can be replace by a 40w energy saving bulb.

time to ditch d 40w energy saving bulb and use 5watt LED bulbs..

Isaacmacdon:
This is a löng nd uninspiring post! I can gladly say.. We've got stooges as "shakers".. Its ridiculous. U talk of tackling corruption in d downstream! Av u been sleeping or did u just steppd foot into planet earth 4 d first time? If d NLC turn a blind eye to dis situatn then it shows how ridiculous nd compromising humans can be! They shutdown nigeria for close to a week or more.. Truly ntin z hidden under d sun,all would be reviewed in no time! Corruption z a global thing! Can a man stop corruption? Vry much impossible! Well we shud jst look forward to a new world with a new government which would b ruled by the saviour n also the perfect being..

This is a löng nd uninspired Comment of the day.

joseph1832:
This is the one thing these our economic analysts fail to see, with all their fancy economic policy that doesn't understand the nigerian situation.

Datz it sometimes d policies r not in line with d realities at hand.All d same wetin Man pikin one do. NO how,No how
As life dey,Hope dey 1 corner

Toks2008:
Over the years Nigerians have been faced with series controversies surrounding subsidy removal and many Nigerians have frowned against this with great ferocity each time the government of the day makes any move to remove it either totally or partially.

Many opposition bodies have used this to campaign against the government of the day and that was the case during the period of President Goodluck Jonathan and many Nigerians were also made to believe that it was indeed a callous move by previous governments to inflict hardship on Nigerians but just yesterday,we got a very surprising news that the APC led government have decided to finally remove subsidy as Petrol will now sell for a maximum of N145 per liter..

The question on the minds of many is why was there a strong move against this in the past? could it be to lack of proper sensitization of the populace by the previous governments?or was it because the lack of trust in the previous administrations or shall we say we have suddenly realized the true picture of the situation on ground? I guess these are questions we will continue to ask ourselves but this write up will address the reality and advantages of subsidy removal from a very layman's perspective and professionals are welcomed to shed more like and correct any form of misinformation.
[size=13pt]
THE REALITY[/size]

FUEL SUBSIDY:
Understanding the madness called “fuel subsidy” requires a walk down memory lane. However, let me start by saying a country like Nigeria, which is also the largest crude oil exporter in the African continent, imports fuel into the country.YES we know this makes no sense. Unfortunately, it does. Nigeria has four national refineries that are barely functional because of the country’s poor planning and maintenance culture, and even more, our refining plants are aging while the pipelines linking these plants have lacked adequate investments and they are terribly unreliable to support uninterrupted domestic production and sadly enough as determined as the government are in ensuring that these refineries are repaired,some interest groups have taken up the habit of destroying these facilities thus Nigeria is forced to refine its crude oil resources outside its borders and then it imports the refined products, mostly from European suppliers, to satisfy the energy needs of its large population.

WHO BENEFITS MORE FROM FUEL SUBSIDY?
Now lets assume the governments spends an average of N40 to subsidize a litre of petrol that is bought by each Nigerian,it means for every 20 liters you buy, the government helps you to pay N800. But the truth is that the rich benefits more because in a month they buy thousands of liters to power their office,homes,cars and so on while an average citizen with a tight budget might just manage to buy 50litres in one month.
[size=13pt]

Lets ask each other this question;Does it make sense for a government to spend over 1 trillion naira on fuel subsidy yearly to help the rich while lesser amount is marked for other infrastructures that would impact more positively on the average man?

Now lets take a quick look at 7 advantages of subsidy removal:[/size]

1. IT REDUCES CORRUPTION IN THE DOWN STREAM SECTOR:

According to the statement made by the former finance minister and coordinator of subsidy removal, Dr. Ngozi Okonjo Iweala. “ The removal of oil subsidy will drastically reduce corruption in the down stream sector.” Moreso, deregulation will also help to end the waivers enjoyed by powerful “cabals” at the expense of the Nigerian people...this needs no explanation.

2.PROVISION OF BASIC AMENITIES

The Nigerian governments spends over 1 trillion naira on fuel subsidy each year and this has made it extremely difficult to provide other amenities that would impact more directly in the lives of the citizens. However, if half of the money spent oil subsidy is channeled to other sectors of the economy, Nigeria would have been better for it. Consequently, the money saved from subsidies will be used to improve infrastructure, building good roads and bridges, fund agriculture,pay higher salaries,improve education and health sectors.

3.REDUCTION OF GOVERNMENT DEBT

According to the words of the former Central Bank Governor, Malam Sanusi, one of the long term benefit of the withdrawal of the subsidy is the reduction of government debt and at least help direct that debt to the finance of infrastructure that should create jobs and more inclusive growth. However, it is important to note that Nigerian government often borrow to enable it finance this oil subsidy so as to make the petroleum pump price affordable to a few rich Nigerians who operate or control some of the devices which actually consume the petrol.

4. TRANSFORMATION OF THE PETROLEUM SECTOR

A lot has been said of corruption in this nation, and the time is now to effect the change we need. Reformation of the oil sector which is the life wire of the nation could take the lead.

5. INCREASE IN FOREIGN RESERVE AND SAVINGS

With subsidy removal, Nigerian, government will get to keep more of the money raised from sales of its petroleum product and savings made on its foreign earnings, this will uplift the countries foreign reserves and greatly improves our ratings by international agencies.

6. ESTABLISHMENT OF MORE REFINERIES

It is noted that since 2000, government of Nigeria had issued licenses for refineries, but none was been built for these reason. This is not unconnected to the financial and structure imbalance created in the huge sums, of money expended on petroleum subsidy. However, it is obvious that with subsidy removal, Nigerian government can now use the money saved from subsidy to build refineries which will inturn provide enormous opportunities for employments of our jobless youths.


7. MAKES WAY FOR TRANSPARENCY AND COMPETITION IN THE OIL INDUSTRY

When petroleum subsidy which is rife with corruption and unhealthy practices is no longer there, transparency and healthy competition will return to the petroleum industry.


Lets give the government a chance and make this sacrifice with hope that we will have a new story to tell.Yes we may see a sharp increase in the price of commodities and transportation but in a short while, we will see the positive outcome just as we now see in previously deregulated sectors.

You talked about using the savings from the subsidy to provide basic amenities an so forth. How are you sure the savings will be used judiciously?
This government increased the budget by almost 2 trillion naira relative to last year in thus economic recession, yet only less than 1 trillion naira was added to capital projects.
If a government could budget 500 billion naira on social welfare at a time when as much money as possible should have been channelled to infrastructure, agriculture, power etc, do you really trust such a government to maximise the subsidy savings?

This writer is exclusively stupid And a fantastic slowpoke-

Toks2008:
You are right but then you must understand that the rend is same in other countries who have increased the pump price..even venezuella increased by over 1000% in 20 years.

With a decline in the crude oil cost,it has become extremely difficult for the government to fund the imported product.

It might interest you to know that in Nigeria, also an oil producing nation, pump price has increased by over 24000% (not adjusting for inflation) within the last 25years.

Until the government become honest and stop hypocrisy and propaganda, the country is bound to remain stagnant in the next 30years.

Some people are always playing politics with Nigeria's economy...and zombies are dancing to the tune.


While I support the fuel subsidy removal, I also contend that it isn't the best option available to the government in the state of the economy.

How about devising means to curb or eliminate the corruption around the subsidy payments?
How about fixing existing refineries for production with proceeds of recovered loots et al?

Subsidy removal makes the poor suffer more, we both know the poverty and unemployment rate in the country.


You spoke of subsidy savings, it may interest you to know that subsidy removal savings is un-appropriated for in the just signed appropriation bill neither was it recognised as a source of income...it is not news that such monies end up in some people's pockets while the poor keep suffering.

OP...thanks for the write up, though we criticized the past administration for fuel subsidy removal because nigerians felt uncomfortable with the policy not because of the removal but because we were worried how funds being saved from the removal will be utilized. Yes, we were justified to protest that particular year few months after, when the funds raised from the subsidy removal were embezzled by few people......according to the OP, lets give the government a chance to prove us wrong....one nigeria

Pidggin:
Subsidy was the only steady benefit we were gaining from our oil wealth. OP before you wrote your epistle you should have researched other oil producing countries. Most of them subsidize fuel and still provide basic amenities

You can deceive gullible Nigerians, but not some of us who are exposed

u know wetin dey. . . dumb Buhari! D idiot supposed to ensure 100% clarity about critical goals and how every team member contribute to that objective. . . .

hillz0103:
This is a löng nd uninspired Comment of the day.

ur thoughts tho!

muyiwadavid:
looking 4wards to see u under that government that will be rule by Jesus Christ.it will indeed be a perfect n peaceful government

Exactly! U get my drift!