₦airaland Forum

ben1daEbiri:
Let me remind you that the NNPC accrued liability of over 70 billion last year across all refineries without refining one litre of PMS. Make of that what you will.

inconsequential fact that is. We are talking subsidy here.

Same Ibeto that got cement license with Dangote?

ben1daEbiri:
This was the bases by which subsidy was continually increasing. You don't pay half subsidy on any commodity as it can lead to inflation or increase in price of the subsidised product. The importer will simply increase the price by the unit which the government is subsidising it for. In all these the consumer bears the brunt.

the importer is the one subsidizing. That's like a say you cannot trust yourself not to cheat yourself. It is a silly logic to build and argument on.

mrvitalis:
Even units 20 millions per spending 750 billion on subsidy and giving it to commercial banks at say 3% so they can loan it to certain sectors at 10% per year u can limit it to say agro processing , most exports centric or import substitution industries ....do you know what that can do to our economy If done for 8 years ? Do you know


That can generate 800 billion in taxes yearly even


Government is a business ...you invest in people to get taxes to invest in more people

You are clearly one of those without empathy eating our money quietly somewhere.

mrvitalis:
Oga Nigeria no stop for your region ...most goods are moved via 911 trucks


Transportation is not an important expenses for the poor ...see Nigerians need to pay tax so they can stop electing leaders on tribal lines

so according to you, transportation is not an important expense for the poor?
I must have been conversing with BMC version of chatGPT.

She worked for it. From going naked on camera to divorcing, you think it is ordinary eye they choose her over better rated artistes?

mrvitalis:
100 is 4 billion per day ....1.5 trillion per year ? ....do you really think that's the best way to spend 1.5 trillion

consumption will drop once smuggling profit margin drops from around N300-N400 equivalent it currently is. Adjust that 40m a day you used accordingly.

mrvitalis:
Food and and goods trucks are 90% diesel powered and subsidy has been removed from diesel long time again ... transportation is less than 2% of their spending

Petrol needs to be taxed and state of purchase getting 70%

that's mostly interstate food trucks. J5 uses petrol. Most small buses and some trucks use petrol. Keke, bikes and cars use them, water pumping machines for dry season farming uses it also so what your point. Is this the argument that will be used against protesters when it is eventually removed?

Uprightness100:
Today, May 8, is World Donkey Day.
Good morning to all donkeys

(Incongnito)

precious urine available? Lol.

CodeTemplar:
I have a proposal. Let a test removal be done. With NNPC allegedly as the sole importer, that should be easy to do.

That won't be bad.
I have one also. Let a flat subsidy be applied. If he flat subsidy is N100 a litre it means N100 is subtracted from final landing cost and paid for by the govt as against allowing the subaidy value grow.

mrvitalis:
Do you know what's poor ? Poor has no money to buy generator ...poor don't buy fuel

Middle class should and supposed to pay tax ...if you can buy petrol #400 extra 80 naira for development of Nigeria ...tax is the only way to unite Nigeria

Even if true, the poor still transports, and get serviced with petrol powered devices so they are affected. Food in particular is undeniable.

jerus:
Nothing bad in removing subsidy
Our leaders lack sincerity, they are our problem.

No need doing double effort.

The leaders are available to loot the funds saved from wherever it is redeployed so keeping subsidy and wholeheartedly shutting the border like they did against ECOWAS neighbours is the reasonable step to take.

mrvitalis:
Not only should subsidy be removed ,#50 to #100 tax should be imposed on every litre of patrol


Poor has zero benefits from subsidy at all it only benefits middle class

Remove subsidy tax petrol #100 per litre with the state of purchase getting 70% if that revenue

You should have your brain checked for saying the poor have zero benefits from subsidy. The poeiple running small tiger gen set are they poor or middle class, okada riders, motorcycle owners, pepper grinders, food wholesalers? The poor is among them.
If they aren't benefitting, why did they protest and are still willing to protest?

Seems once they induce some conscienceless souls with stipends their brain also goes on reasoning sabbatical.

This represents about 250 per cent increase from the N2.4tn PMS consumers would spend during the period if the government chose to retain the subsidy regime.

Minus what is being smuggled out, that N2.4tn should be far less.

---

“We have moved from a situation in which subsidy payment was in thousands, to when it was in millions per annum, to billions per annum, and now we are told that this year we are to spend about N6tn on subsidy.

“I am sure that in our hearts we all know that if we invested that N6tn in sustainable programmes that will grow the economy, it is a better way to go than to burn it in fuel subsidy. We all know this and so it must stop,” the Executive Secretary, Major Oil Marketers Association of Nigeria, Clement Isong, stated.

The issue is there is no assurance the trillions diverted from subsidy removal will be well invested elsewhere. It will be stolen like the rest.

Let it jump to N10 Trillion if it wants to. How much is corruption again and is it benefitting the masses?

If food blockade and border closure could be effective across borders, let petrol smuggling too be wholeheartedly checked.

Lol. Damage control.

Monkey see monkey do.

The difference between them and us is that they don't treat such suspects as bandits that need amnesty.

He is trying but he alone cannot do it all.

richmond500:
it's a private company, they can't steal Dangote's oil

and most importantly, they can't steal what's theirs in the first place. Have gold thieves been caught in Zamfara?

This man is sounding like he wants to run for public office.
I have to agree with him about Jonathan not being clueless any longer after buhari's performance.

Vampires everywhere. And you what with your young looks? Fulfil the lust of the flesh?

helinues:
Don't tell us you are angry with this development news

I am. The news is not real in the sense that the refinery itself is not ready for operation but is being commissioned to massage the useless ego of those whose witchcraft economic policies is delaying its completion.

Zionmdde:
I once mentioned here that dangote refinery will come up, ph refinery will follow, before subsidy removal. FG will not be mad to let petrol sell at over 400 in this country

They better do because it won't be funny. Hyperinflation may kick in if those aren't in place.
If truly it was ready for commissioning, there should have been a news of test running it in the media.

helinues:
Very very good news.

Ready before the Inauguration

Good indeed. Next is removal of subsidy. Rubbish.

SOSinNigeria:
Do they want to commission it before completing the refinery? Last time we checked, they reported it will take another couple of years and millions of dollars to be borrowed before it can be completed.

I smell fish, I hope this is not a smokescreen for another round of siphoning Chinese loans.

The date is one week before the herdsman exits Aso Rock and return to milk his 150 cows. I am sure his cows eats peoples farm.

LeoDeKing:
In this life, everyone has a unique role to play in the society.

Some people will soon start playing their societal in relation to this commissioning of Dangote.
Lol
Wailing, crying, cursing and swearing will soon start.

You started it already.

The refinery is clearly being hurriedly commissioned before the collosal failures exit office. Like Putin, Buhari is looking for any thing he can present as an achievement and not minding how he has frustrated the same refinery project with bad economy, he is pressuring Dangote to open what isn't operational or close to being operational.

Is any of the ones directly under him functional?

You are trying. That must be Osogbo or within SW.

Why not. It wasn't designed to be finished in a sitting.

She knows how are staunch supporters think and act so dare not go there.

As good as dead under the lanky general.

He has already programmed N22Tr of loans for his successor and hasn't increased revenue significantly. The man is a destroyer in agbada.