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Politics › Re: What I’ll Do If Tinubu Offers Me Appointment – Wike by savcy(m): 12:14pm On Jun 05, 2023

Knowing Tinubu, he might offer him an appointment, but not directly to him, but a nominee. Lest, he risks empowering a opponent in the next election.

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Career › Re: ‘I Rely On Sex Work To Survive,’ - Policewoman by savcy(m): 11:53am On Jun 05, 2023

This country is sick and needs healing. How can you not pay people for 7months and no one is saying anything?

57 Likes 3 Shares

Politics › Re: See Bad Road Condition Of Nnewi Anambra State by savcy(m): 1:59pm On Jun 02, 2023

sonature1:
Oga, you don't know Rivers State at all.

There are many roads in Etche in terribly bad condition.

Where in Etche?

Politics › Re: See Bad Road Condition Of Nnewi Anambra State by savcy(m): 12:45pm On Jun 02, 2023

There's no road in the entire Rivers State that's in this condition. None. That's how far we have come as a state.

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Politics › Re: Nigerians Knock Sowore Over Comment On Osinbajo by savcy(m): 12:05pm On Jun 02, 2023*

Prof. Yemi Osinbajo is the best V. P. Nigeria ever had since Idiagbhon. A lot of people still think he should have been made President. No one can forget those few months he was acting President. A man that went into MMA toilet and almost sacked the airport leadership. He shook up Nigeria's security in months. I won't go as far as to absolve him of the failures of the last administration, but damn, the man is solid Presidential material. He has already been picked to spearhead an international election observer group. Where is Namadi Sambo and Atiku?

Nlfpmod

9 Likes 1 Share

Politics › Re: Dangote, PH Refineries, Others Won’t Change Fuel Price – NNPCL by savcy(m): 11:55am On Jun 02, 2023

There is this lack of transparency that's occasioning this subsidy removal, and I'm not liking the feels at all. This is why the petroleum sector has to be fully deregulated, so that one entitled human won't show up any day and preempt the market. What is even the business of the NNPC pegging price on a commodity that is assumed to be free of subsidy, when the very act insinuates subsidy? If market price has been liberalized why is NNPC telling marketers how to sell? Why isn't any one telling biscuit sellers the price to sell the item? I'm almost certain that in the future we will remove subsidy again. How can an educated man say that the cost of an imported commodity would cost same with locally produced ones? Unless they are planning on bombarding Dangote refinery with taxes. We can never get anything right in this contraption. I spit!

Politics › Re: Tinubu Making The Same Mistakes Buhari Made by savcy(m): 5:21pm On Jun 01, 2023

You have a point. But the CBN has refuted devaluation claims peddled in the media. Subsidy just had to go. The important thing right now is to make the necessary tweaks to the economy to keep inflation within 23-24%. I think that's achievable. In a year or two, we'd be fine. By the way, the single fx window must be enacted, too. And sooner rather than later.

Politics › Re: No Protest Against Fuel Subsidy Removal For Now – Labour by savcy(m): 5:04pm On Jun 01, 2023

Good. Let nothing stop this removal. We will weather the storm, and with time things will even out and regain balance. Let's see what the governments will complain about after this. Also, let the NNPCL allow interested parties import all the types of petroleum products.

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Science/Technology › Re: Russia To Lunch First Nuclear Powered Space Ship by savcy(m): 9:40am On May 31, 2023

This leap shouldn't come as a surprise. The USSR basically taught the world space technology. They're the only space administration that has pictures of Venus' surface till date. In terms of ballistics and space tech, they're ahead of any country in the world.

1 Like 1 Share

Politics › Re: Emir Sanusi To Tinubu: "If You Make Subsidy Payment We Will Fight" (Video) by savcy(m): 9:03am On May 31, 2023

Subsidy is the least of our worries in comparison to fx arbitrage. The latter is the real monster, and it will fight back dirty. People sit in their homes an use bank connections to make millions daily, and you just want to take that away? If Tinubu successfully unifies both fx windows, I will be his supporter till his tenure elapses. Curbing fx arbitrage would lead to a massive boost in investments. People who have money won't be looking to make cheap profit from off the exchange market any longer. They'd look for ways to either put them in the banks or invest in real sectors of the economy. These are things I expected Buhari to do, and he failed woefully.

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Politics › Re: NNPC Pump Price In Port-harcourt today by savcy(m): 8:51am On May 31, 2023

If NNPC filling stations sell at this rate, it's safe to assume that PMS subsidy regime went away with PMB. I just feel for the poor and VULNERABLE. it won't be easy with them at all.

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Business › Re: Stock Market Response Statistics For New Presidents Since 1999 by savcy(m): 7:45pm On May 30, 2023

Over 5%?? What hapun?? Lol!!

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Politics › Re: A Guide To Understanding 5 Economic Jargons In The Speech by savcy(m): 6:08pm On May 30, 2023

I'm particularly interested in Arbitrage. That's where most big men get their money from. I doubt he'd be able to curb it. Buhari tried and failed. In terms of monetary policy, he said the country's interest rate has to be reduced to aid businesses. A lot of Buhari-nomics going on in the MPR so a "clearing house" is needed.

1 Like

Politics › Re: BREAKING: TinuBULL As Nigerian Stocks Post 5.2% Gain After Inauguration Speech by savcy(m): 5:46pm On May 30, 2023

I hate to say it, but, the inaugural speech Pres. Tinubu gave yesterday was indeed captivating and reassuring, especially the part where he spoke about the economy. He spent almost 45% of his time talking about the economy from monetary policy to single fx rates, to taxation and the subsidy. He spoke like a market man, and the market knows when it sees its own. Tinubu is a man for economy, and I am not his supporter, but it's the truth nonetheless. I have PTSD from placing expectations in politicians, else I would have been hopeful of this govt. These politicians are all the same, except a man like PO.

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Politics › Re: Subsidy: Queue In Port Harcourt (video,pictures) by savcy(m): 2:21pm On May 30, 2023

nnadychuks:
Ok let’s use your logic.
You own a fuel station and buy 10k liters at a subsidized rate of #200 per liter (2,000,000)hoping to sell at 220-240 (2,200,000-2,400,000 total revenue).
The problem with u as the manager now is that the new president had removed subsidy meaning it could be sold above #300 from your next purchase.
Now check: your previous predicted revenue generated is 2.4mil max, and the present predicted cost price is 3mil min…
As someone who at least studied basic economics in secondary school, do you sell at the same 240 u were selling before, or try to meet up with the current cost price?

This is a well thought out take. This is why there's supposed to be a sort of insurance policy for these abrupt shocks in the sector. Because, the situation you just described might be the case for stations that are about to restock. They have no one to pass the deficit to, so they would have to pay from their own pocket. Nigerians are made to suffer for executive recklessness all the time. Although, I don't know if there was a better time to scrap it.

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Politics › Re: Five Benefits Of Fuel Subsidy Removal by savcy(m): 2:10pm On May 30, 2023

Time to let it go. Let's see what the government's excuse is going to be from now on. Subsidy was like the only way the common man benefitted directly from their God-given resources. Now that it's gone, let's see what the excuse for underperformance would be.

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Politics › Re: Disquiet In Immigration As Acting CG Adepoju Officially Retires Tomorrow by savcy(m): 2:02pm On May 30, 2023

Tinubu has already started causing ripples in the country barely 24hrs after inauguration. Na God go help us.

Politics › Re: Subsidy: Queue In Port Harcourt (video,pictures) by savcy(m): 1:56pm On May 30, 2023

Amazing the way Nigerians are capable of sabotaging themselves for cheap profit. Same product, same product cost at the depot, but different selling price. We have a long way to go as a country.

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Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 1:52pm On May 30, 2023

Iamzik:
That was a statement of intent. The devil is in the execution details. What measures have you put in place to checkmate hoarding by marketers? What arrangements have you made to ensure that the product is adequately supplied and available.

People are willing to buy without standing in queue for a whole day. Tinubu made that pronouncement without thinking about the immediate implications

@BOLDED 1, no man born a woman can prevent hoarding in Nigeria with our existing democratic laws.

@BOLDED 2, I have tried to think of a better way for him to relay that info and I have come empty on numerous occasions. He was simply trying to clear his name. I don't know why you call it a "declaration", because it was all part of his inaugural speech. He said the subsidy won't continue, because it wasn't in the budget that has already been signed by law. If we had good laws and enforcement agencies, any filling station that hoards or sells at a different rate from now till the start of the implementation of the next budget would face legal consequences. That's how serious nations do it. Tinubu did what had to be done, and I am not his supporter. I wish him removed from office today. My opinion is based on sociopolitical considerations.

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Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 1:34pm On May 30, 2023

rollandben:
Please when was the last time you buy fuel?

N450 here in PH. Most filling stations are closed, anywho.

Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 1:31pm On May 30, 2023

lexy2014:
Did you understand the questions I asked?

1. How does the fact that "None of the three frontline candidates in the last election meant to keep PMS subsidy", justify the removal of subsidy?

2. Can you tell me how much percentage of the subsidy has government been paying all this while?

3. Previous govts have at inevtime or the other removed subsidy. How much percentage was removed from the subsidy and how much was left to be removed? What is the percentage of subsidy has been finally removed?

Next time be nice with your demand for an answer. I do not owe you an explanation.

1) Something must be very correct about a policy when three of the biggest candidates in an election say they would damn the consequences and enforce it.

2) I don't have the accurate info, but I hear it's as much as 50%.

3) Both GEJ and Buhari appear to have reduced subsidy by some form, which I cannot confirm. That's the problem with the policy. No one knows entirely what is going where. Even the NASS recently tried to ascertain the volume of PMS Nigerians use per day and came back empty. Tinubu is removing the entire lot. Subsidy is gone forever.

1 Like

Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 1:15pm On May 30, 2023

greatefa1011:
But when Goodluck Jonathan attempted it dogs, goats, vampires and all Dominic cockroaches invades streets protesting.
Goodluck Jonathan was God sent but we rejected him.

Goodluck was borrowing to pay salaries with 1.6m BPD of oil @ $120/b. Nothing would have saved him. Hs government was corrupt in epic proportions. I'm from Rivers Sate, in case you want to go down that lane.

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Politics › Re: How Much Will Fuel Prices Be After Removal Of Subsidy In July? by savcy(m): 1:13pm On May 30, 2023

Marketers estimate it to be around N500/liter, but that's a worst case scenario. With subsidy out of the way, government pressure on NNPC for revenue would ease a bit, and this would positively affect the price of the product. This is entirely my opinion though.

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Politics › Re: “who Is Fooling Who?” – Kanayo O. Kanayo Fumes At Fuel Subsidy Removal. (VIDEO) by savcy(m): 1:09pm On May 30, 2023

It's not a question of who is fooling who. The right question is, how would this policy affect the country? Almost N6trn would be saved from the removal. These monies can be channeled to capital projects and other key sectors. It's long overdue in my opinion. It's tough, but we will ride through it unscathed.

6 Likes 2 Shares

Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 1:03pm On May 30, 2023

lexy2014:
How does the fact that "None of the three frontline candidates in the last election meant to keep PMS subsidy", justify the removal of subsidy?

Can you tell me how much percentage of the subsidy has government been paying all this while?

Previous govts have at inevtime or the other removed subsidy. How much percentage was removed from the subsidy and how much was left to be removed?

What is the percentage of subsidy has been finally removed?

N400b is used to pay PMS subsidy every month. That's about 50% of government's revenue per year. On top of that the policy is riddled with corruption and what not. I used to be opposed to it, but I welcome it now. Let's ditch it and move on please.

2 Likes 2 Shares

Jobs/Vacancies › Re: How Did You Get To Work today as a result of the removal of subsidy? by savcy(m): 12:55pm On May 30, 2023

Sirchiboy:
.
Where in ph you dey

Iwofe-Odili Road.

1 Like

Jobs/Vacancies › Re: How Did You Get To Work today as a result of the removal of subsidy? by savcy(m): 11:58am On May 30, 2023

My transportation increased by N50. PH transport workers usually aren't crazy about hiking fares. That's one good thing they have going for them.

58 Likes 1 Share

Politics › Re: No Need To Panic Over Removal Of PMS Subsidy Says NMDPRA by savcy(m): 11:50am On May 30, 2023

None of the three frontline candidates in the last election meant to keep PMS subsidy. So this is a welcome development. It won't be easy, but it is necessary. I'm obidient, and I support this policy.

137 Likes 10 Shares

Politics › Re: Rivers State Governor, Sim Fubara Submits 4 Commissioner Nominees For Screening by savcy(m): 10:22am On May 30, 2023

All Wike's boys. I guess Prof. Adango is returning as the Attorney-General and Commissioner for Justice. This is truly our oga's third tenure.

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Politics › Re: Kano Governor-elect Rejects Ganduje’s Offer To Handover On Sunday by savcy(m): 8:10am On May 29, 2023*

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Politics › Re: Exchange Rates Before Tinubu Takes Over by savcy(m): 5:06pm On May 28, 2023

Nigeria's Fx window should be most mysterious in the entire world. No one knows what it's based upon. Is it oil, gold or manufacturing. No one can say. And we have two Fx windows which makes it even more ridiculous. Why would you want to transact a business and the guiding exchange rate is the BLACK MARKET rate?

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