iwaeda:


You are doing well in the defence of this useless admin

Don't mind the two faced guy, always talking from both sides of the mouth writing useless epistles that are neither here nor there.

anonimi:


I did not say you don't have sense.
tagging people my hero is to achieve what?
If price controls don't work, how is Buhari better than Jonathan, as this is a fundamental economic issue?


www.nairaland.com/attachments/3075524_bubu1_jpeg88275f10f2430d13576e18436b244ea1


www.nairaland.com/attachments/2589504_subsidy2_jpeg57ea79bc1f8758353f00f8db1d53dbf1

You did by posting that condi rice meme.

Anyways, no problem. I'm used to it from most people on this site

iwaeda:
Self denial is the most painful thing for some people.
They were corosing 'subidy does not exist then'. I heard Buhari saying so in the media.
Now they are bending the pole

Iwa eda Barawo Bubu ni a ri yen o.
A chronic liar and looter pretending successfully to have integrity.


www.nairaland.com/attachments/4024299_bubu6_jpeg86aaf8fa6cd32a5104ab6bf996dd1ee3


www.nairaland.com/attachments/2026536_image_jpeg9f360c5ab7736510df54c882e9dbf188


www.nairaland.com/attachments/3441929_img20160227001458_jpeg3fecf627d6b5447631b348f011e59b5a

iwaeda:


But there is no subsidy

So you believed that lie of APC back in 2015?

So long as they are setting a price, there is a subsidy

If Bubu had been serious in 2015 and removed subsidies, we would have been paying 200 naira or more per liter of fuel

What he did back then was partial removal of subsidy, an old trick by many previous governments since the army era.

Racoon:

https://www.google.com/amp/s/punchng.com/why-nigeria-cant-stop-borrowing-ahmed-finance-minister/%3famp=1

When did you start subsidising electricity? Thought your government said "Nigeria have not borrowed enough" and "Nigeria can not stop borrowing"? So you know understand that it's economically irresponsible to continue borrowing yet have long dragged this nation into chronic indebtedness? Debt servicing is not debt payment.

So after saying subsidy is a fraud, yet you continued to pay same for years.After promising one year one refinery, NNPC is just churning out debts as none of the existing refineries are functioning optimally despite the huge TAM & other overhead costs.No diversification from oil economy as billions are wasted prospecting for an illusive oil up north.Just cluelessness & incompetency on display.

The man knows nothing..... I'm sure.. He says what he's told to say.

So now, how do we benefit as an oil producing nation? If prices are low globally, wahala... They say we don't have enough, they borrow. If prices of oil is high, we still have to pay more to buy our oil....

We have an irresponsible government especially President whose wife travels and spends our forex to shop for wedding items as well as medical treatment, same for Buhari. Every available opportunity, he goes to UK even to treat headache!

kikero:
You did by posting that condi rice meme.
Anyways, no problem. I'm used to it from most people on this site

Not quite. Wrong interpretation of the meme.
Good to know that you have a thick skin, like I do, for enlightening others and projecting your point of view.
Cheers.

kikero:


Yes, they were paying subsides for the power sector because that was the structure they met in place which was enshrined in law by the previous government

The previous government, while privatizing power, put in place a system whereby discos were forced to charge below the cost of production of electricity

This put discos in a difficult situation. As a result, they had to keep on rejecting power because they have been making losses due to the fact that it costs 53 naira to produce one kWh of power, yet discos had to sell it between 21 to 30 naira.

So the current government ended up paying discos subsides of a trillion naira each, partly with loans to prevent them from losing money and collapsing. Even then it isn't enough because that just covers the difference between the cost of production and selling power

Of course, the current government could not reverse the system without falling into legal issues

you guys just wake up and type trashhhhhhh, how can DISCos be paid for generation when their main function as DISCOs is Distribution and generation is the sole responsibility of the GENCOs ?, make Una dey try research a bit, Im not in the power sector but I have a rough idea of what you are trying to say but spilled out in the wrong , the summary of this is, THEM SAY!

erico2k2:

you guys just wake up and type trashhhhhhh, how can DISCos be paid for generation when their main function as DISCOs is Distribution and generation is the sole responsibility of teh GENCOs ?, make Una dey try research a bit, Im not in the power sector but I have a rough idea of waht you are trying to say but spilled out in the wrong , the summary of this is, THEM SAY!

Ok, since you think I am lying, I don't think we can have a good enough discussion.

Good afternoon

kikero:
Dunno. Considering I don't even back APC and regard their economic management as bad( and even this their removal of subsides while making some sense, is still iffy since they are.still.controlling prices and so on...I don't know.
Go ask manna or the other APC supporters.

I know that APC is a terrible option to PDP, despite its many imperfections.
I have been convinced of this since around 2012/2013 with Fashola's failures in Lagos and Barawo Bubu's likelihood of winning the 2015 election.
No regrets for sticking my neck out to continuously expose APC's dubious politics.

Has anyone noticed the president did not mention anything about fixing the refineries.?
If the refineries are fixed,fuel will be very cheap to the masses but may they won't because that's why the mafians get lota money when they import for the gvt.

kikero:


Ok, since you think I am lying, I don't think we can have a good enough discussion.

Good afternoon

I never said you lied, I'm just saying logically what you typed there is wrong!

erico2k2:

I never said you lie, I'm just saying logiclly waht you typed there is wrong!

Good afternoon

kikero:


Good afternoon

Same to you

Kubernetes:
Has anyone noticed the president did not mention anything about fixing the refineries.?
If the refineries are fixed,fuel will be very cheap to the masses but may they won't because that's why the mafians get lota money when they import for the gvt.

last last E go pure

dalass:
The man knows nothing. I'm sure he says what he's told to say.So now, how do we benefit as an oil producing nation?

Not with a man of this president's nature.He knows nothing neither will he allow the national economic think- tank he inaugurated last year including VP Osinbajo to advise him accordingly.How do you expect a president that got F9 in Maths & didnt do Economics to be economically sound?

Racoon:

Not with a man of this president's nature.He knows nothing neither will he allow the national economic think- tank he inaugurated last year including VP Osinbajo to advise him accordingly.How do you expect a president that got F9 in Maths & didnt do Economics to be economically sound?

He has no clue, but like you said I wish he could think outta the box and employ those that do!

what exactly is Nigeria using it money for? where are recovered abacha loots? where the recovered money and assets by the efcc? where is the trillions the government is saving through the single treasury account? what are they using the proceeds from crude oil for? Nigeria borrowed billions of dollars from IMF, world Bank and China, where are these money? they even borrowed grains, PPE, ventilators and covid19 drugs during the pic of this pandemic
the only thing they have to show for all these shameless borrowings is hardships. .

Kubernetes:
Has anyone noticed the president did not mention anything about fixing the refineries.?
If the refineries are fixed,fuel will be very cheap to the masses but may they won't because that's why the mafians get lota money when they import for the gvt.

The refineries can't be fixed because government price fixing and payment of subsides means that fuel cannot be refined profitably in this country

According to NNPC some two years ago, the price of fuel would be 165 naira if it was refined in this country

Well,.when dangote comes on stream, we would have an idea of how much it costs to refine fuel in Nigeria per liter.

The leaders continue to live larger than life parttern with their citizens in abject poverty, A borrowing country of which after borrowing they will steal it into their private accounts. One of the campaign promises the president made that endeared people to him was that promise that "that he will bring back PHCN"NEPA as it were, but rather than do that he continues to enrich the the already billionaires to coarse us to pay fictictious/dubious bills for darkness by given given billions as bailout sum. Tell us how we would have known that it was just a very fat lie he was taught to tell the gulliable masses to win. Now he won and telling Nigerians that now he has won he is tellings us that we are compound fools. Yes, your tenor is over in 2023, but God's willing 2023 will take a better shape because that kind of naked massive rigging which you were party to will not happen again, because the gulliable masses as your followers thinks, will not vote starvation again by His grace.

kikero:
You did by posting that condi rice meme.
Anyways, no problem. I'm used to it from most people on this site

By the way, is your moniker a twist of the name of the Roman statesman, Cicero?

Says a sadistic govt of self serving thieves 6

only customers who get electricity for 12 hours and above per day would have their tariff increased............lol for this Nigeria?

valentineuwakwe:


Source: https://punchng.com/borrowing-to-subsidise-electricity-grossly-irresponsible-fg/

Cut the cost of governance, it's extremely high. Too much wastages on both the legislative and executive arms. Until you do that , there is no justification for inflicting unnecessary hardships on the already high cost of living

anonimi:


By the way, is your moniker a twist of the name of the Roman statesman, Cicero?

Yes. (Selected it at random, while I am interested in Roman history, I don't know as much as I should of Cicero).

hypocrites...but u could borrow for other irrelevances.Coming here to boast as if your government has not already sold our sovereignty through borrowing

It's even more irresponsible for this government to talk about governance because they lack the capability to do so.

A country that is one of the largest producer of gas in the world couldn't generate electricity. Shame on you all in government

kikero:


Yes, they were paying subsides for the power sector because that was the structure they met in place which was enshrined in law by the previous government

The previous government, while privatizing power, put in place a system whereby discos were forced to charge below the cost of production of electricity

This put discos in a difficult situation. As a result, they had to keep on rejecting power because they have been making losses due to the fact that it costs 53 naira to produce one kWh of power, yet discos had to sell it between 21 to 30 naira.

So the current government ended up paying discos subsides of a trillion naira each, partly with loans to prevent them from losing money and collapsing. Even then it isn't enough because that just covers the difference between the cost of production and selling power

Of course, the current government could not reverse the system without falling into legal issues

You're trying to be rational with a PDP supporter?
My brother, please don't waste your time, they won't listen to whatever you say unless you curse Buhari. Not doing that means you're an APC supporter as far as they're concerned

Coming from a reckless government is quite comforting. Lol

PDPdestroyer:

You're trying to be rational with a PDP supporter?
My brother, please don't waste your time, they won't listen to whatever you say unless you curse Buhari. Not doing that means you're an APC supporter as far as they're concerned

Don't face the issue, be shouting PDP APC. Does the fuel price discriminate based on party?!

Instead of focusing on how the country will get itself out of this mess, this one is still playing politics. Nonsense.

Timekeeper:
But borrowing to buy cars for senators

Borrowing to loot

Frustrating citizen nko

All these are responsible abi..


Can't we just terminate all these people like Ghana did..

How do you define "we"? Thats the problem?

So they followed the path of irresponsibility for 5 years? Good to know he recognizes this important fact.

kikero:


The refineries can't be fixed because government price fixing and payment of subsides means that fuel cannot be refined profitably in this country

According to NNPC some two years ago, the price of fuel would be 165 naira if it was refined in this country

Well,.when dangote comes on stream, we would have an idea of how much it costs to refine fuel in Nigeria per liter.

No