₦airaland Forum

Sanusi must be an Orthodox Economist. I've never been game with most of his policies and several of his policy summersaults. Him mentioning that it is diesel that bothers on economic growth in Nigeria smirks of sheer ignorance. The strength of Nigeria's SMEs/Informal economy is huge. Most homes in urban and rural areas use generators powered by petrol, not diesel. Most small businesses use generators powered by petrol, not diesel. Not everyone has cars. And who said Government shouldn't subsidise production by discounting crude oil to private refineries in Nigeria as against fuel subsidy to the importers? Has GEJ not spent more than 18months which is the timeline for setting up a refinery as was done with Port Harcourt Refinery? How come Sanusi's CBN that knows and understand corruption cannot check the over 1.7trn Naira that gets laundered out of Nigeria every year and the figure is higher than the fuel import subsidies?

@Beaf, or is it Beef, you know intelligent minds by how they push their positions. You can't make any sound position where you personalise it and throw individual punches.
For your information, I campaigned and mobilised for GEJ and have no regrets doing that. Rewind back to another election with same Buhari Vs GEJ, I would do same. But I don't support leaders and all their actions when they are anti-people. I am not a boy-boy that will say Yes to my Parents/Leaders even when they are damn wrong.

From your responces, I can see you have little or no knowledge on the Nigerian Mining industry and yet you opened a new thread on it. Imagine! Who told you its same law that applies to both Oil and minerals in Nigeria?I bet you are talking about another country. As one who has investments in the sector, I will tell u that government never subsidized that sector because is has no direct bearing on the government, nay the people. Please just admit and dump that analogy. SIMPLE!

You should please find out how the Venezuelan president had long been making mockery of several Nigerian Government official anytime he meets them. How come fuel there is just about 15naira?Do you think he dances to The Bretton Wood Institutions?
You just borrow the words' subsidising consumption'. Please explain to us empirically what would happen if the Chinese start their three refineries in Kogi/Lagos etc and you decide to subsidise the cost of their main factor inputs, I.e crude Oil and they sign an undertaking that all refined products will be sold within Nigeria(very much controllable), what would happen?
As factually stated by Prof Tam David West, PH refinery was completed in 18months, who says all these refineries won't have started operation by end of this year? Whoever said deregulation of the petroleum sector is likened to deregulation of the telecom sector?Myopic! Telecom sector is service and infrastructure related, Oil sector is Commodity-dependent and oil commodity is subjected to vagaries of price fluctuations in the international market. The closest deregulation you can mention to this in Nigeria is the Aviation sector.

Please GEJ, fix our power sector, resume massive work on our roads, subsiside production cost of private-sector owned refineries, curb money laundering, slash recurrent expenditures and even when you want to announce removal of fuel subsidy then, you would have seen there will be no-one on the streets as the effect will be minimal and you will have huge funds for capital projects.
IMF is pushing this Agenda not only to you, but also to Ghana, Gabon, Cameroun etc because of gains to the western world who needs lower crude oil prices to negate their rising financial crises. So don't think it is only Nigeria because of 'subsidy beneficiaries smuggling products outside'.
@Beaf, again, look for data on how much we consume daily for powering our generators and please let me know how you recommend palliatives for that. Of course, I don't even agree that the 1600 mass transit buses will do anything for the masses. Where are those buses that Abacha and OBJ provided? Will those buses drop everyone at home, especially huge unemployed youths? Will those buses be used to go to your village to bring agricultural products to the cities to reduce the cost?

Who says deregulation of the oil industry will eventually lead to drop in prices like the telecom sector?
The inputs in the oil sector are completely different from that of the likes of telecoms services, PLEASE!
The major factor input for oil refining is CRUDE OIL, whose prices are determined by vagaries in the production International market.
To a large extent, the najor factor is Intl market price of Crude oil but how this plays out is not the crux of our discussion here.
No wonder the Venezuelan president will continue to lambast Nigerian government officials. That is where we import lots of refined products from.
Just imagine this scenario: The chinese have long started process of establishing refineries in Nigeria. Agree with them that all refined products are to be sold in Nigeria. Then subsidise the production by discounting the price we give them crude oil. What will then happen??

This is a completely wrong analogy.

Crude Oil is completely different from Solid Minerals in Nigeria.

Aside Iron ore mining you mentioned, all the other minerals have long been abandoned by the Federal Government.

The Nigerian mineral sector is completely dominated by the private sector, albeit informal and artisanal products and 99% of their output are exported.
These minerals from Nigeria are used mostly by Industries in Asia and Europe.
Not like your Crude oil that is JV operations btw FG and the multinationals. The FG only gives you license for exploring or mining and leaves you alone to undertake the huge risk in the business and everything you mine is yours to export, and you can see that the non-oil exports even contribute less than 3% to our GDP because FG has little impetus for the sector.

Crude oil products are consumption goods, but our mineral products are Production goods.
All the mining sites you mentioned are completely private sector discovered and managed.
if FG decides to subsidize those goods, it will be a laughing stock because everyone will start looking for where the subsidy is, because the owner/operator of those mines ships ALL his products to the end users ABROAD!
We can talk so much on this long abandoned sector, but we will not deviate from the heat of the moment that Govt has not done much to warrant the removal of fuel subsidy at this time. There is no electricity nationwide and hence our small businesses and households rely on the use of petrol daily to run their generators and generate their own electricity. If the price doubles or triples, the multipier effect on the cost of living in Nigeria will astronomically increase. Please abandon those western macroeconomic policies and get lectured on Nigeria-Specific Behavioral Economics.
Imagine if we all have electricity in our homes 24/7 as we had long been promised on those power supply projects and we are witnessing huge road expansion and repair projects nationwide and then our dear GEJ now asks for understanding on removing fuel subsidy, how many people will you see on the streets?
The AGF mentioned how much Nigerians launder every year which far exceeds how much is used on subsidy yearly. Can't that be plugged? If it can't be plugged, then even the removal of fuel subsidies will only creare more money for contracts to be taken by our Politician Contractors giving them more money to launder abroad since our leaders are refusing to plug that hole!

Yet to see the benefits of fuel subsidy as expected on this thread.
Someone mentioned fuel price in ghana is 184naira, it has not always been so. It was just recently increased and the bank of ghana made it clear it Is because of IMF recommendation.
Ghana residents will not feel the effect much because the price had been above equivalent of 100naira for sometime.
Also, the economic indices are far better than ours, more jobs are been created in ghana, massive infrastructure development have been on-going before the fuel price increase. Try and follow any friend in Ghana to his village and see the good roads leading to the hinterland. And the recurrent expenditure there is not high. MPs there earn about $4000 monthly compared to how much we spend on our legislators.
Usage of Petrol is not high like naija, even if you compute per capital consumption levels. How many homes have generators?how much fuel is consumed by industries in Ghana when electricity is relatively stable and predictable? The effect in ghana is not much felt like Naija,

Good lecture going on here, and I need further enlightenment on the following areas:

1. It has been stated here that increase in cost of fuel will reduce demand and eventually price of crude oil will fall. If price of crude oil falls, I believe that fuel prices will again drop and sont demand for fuel increase again?Sounds like merry-go-round to me except I didn't get it!

2.Main palliative always mentioned is the subsidising of public transport. Except lagos where BRT is fully functional, how will this be done in reality? You will sell 'special fuel' at reduced price to cab/bus/okada owners?? I knew during the military era, it was mentioned that Public Buses were bought as palliative under Mass Urban Transport. Where are those buses now?do we know the intricacy in running mass transport outfits even by the best of hands in the private sector?

3. It has also been mentioned that minimum wage should be increased. What percentage of Nigerians are employed? Those that are self-employed as service providers or traders, won't they raise their fees astronomically and abrbitarily also to be able to maintain(not even improve) their standard of living?

YouWin grant is not only for NYSC graduates, it even applies to students many of whom scaled through the second phase. For those starting new businesses will get 1-4.5million while those with existing businesses can access up to 10million Naira. There is no need to have a NYSC certificate. All you need is any government issued Identity card

Just curious, appears this price is about 300 naira per kg. Is this not same price at Shoprite?

Pricing?

Cool. We can work on Jos

Sorry, I meant a client is to be paying me on Paypal, not Ebay

My verified utility bills and credit card statements clearly mentioned LAGOS, NIGERIA and I was using it mostly for downloads. I use third party companies for my amazon/walmart/ebay etc purchases and deliveries to Nigeria. I only need Ebay now because a client wants to be paying me by ebay.

Simply, I chose NIGER but provided series of documents showing that I'm Nigerian with good track record

I was able to open and verify a paypal account and had a zenith bank credit card attached to it & it was working. The card expired some months back and I was told to change it. I got a new Visa credit card from the bank and while trying to tie the new card to my paypal account, I was told the card not recognised. Its same bank issued Visa credit card, similar to the initial one.
Please can you assist on this?

Yes, I want to testify to Femi/Dudu Consult's ability to Deliver as promised.
We met on this thread some weeks back and without meeting face-to-face, we successfully transacted and I was able to delight my wife with this car as her christmas gift. I believe we have many Nigerians that are trustworthy and 'walk their talk' and hence decided to transact with him. Yes, he delivered the specified car with the agreed budget and the car is clean and could leave Lagos immediately for Jos on 16hrs journey immediately after arrival from Cotonou.

This transaction also occured when most dealers were telling their customers that it takes a long time to clear cars from cotonou bla bla and claiming about 2-3 weeks to get car to Nigeria. Femmy delivered my wife's car to us within days of receiving payment.

He also offered another service- processed customs papers for my brother's existing car that came without correct/complete customs-required documentation.
I strongly recommend him to fellow Nairalanders and he should keep up the good work!

I'm interested. I'm based in Jos

Please send details of car device to peter.owoeye@gmail.com

It is not contraband to import diapers into Nigeria. I was planning this some years back & was told it is contraband. I checked the Import Prohibition List online and didn't see it. Also, I wrote to Customs TV programme on NTA where the publicly replied on camera that it is not Banned. You can see lots of Huggies in Nigeria-they are not produced locally but Imported!

@Royallade,please can I have your email address?

Thanks on putting this up. I'm focused on regualr irish potatoes supplies. My email is peter.owoeye@gmail.com

Hi aminu, can we combine on this?I can guide you but for me, I need large regular buyers in Kano!

Kindly assist with this VIN:YV1TS90D811207384
Thanks so much!

Yeah, need location. Also, what model year is this?

Please keep up the good work and kindly assist with this VIN:JMZGE14J201444013

@Adasco, how much??

Will give Ebenezer a call since a Nairalander has recommended him at least!

@cJenny, I do not know him in person. He said he's based in Kano and I asked my account officer in a bank to meet with him & he kept making excuses. He asked me to open an online a/c with Finbank which I did and then he asked me to forward sms of my a/c details to him(which of course contained my access PIN). He was now expecting me to deposit 1 million naira into the a/c which I became cautious. I had entered a Finbank branch near me & asked for confirmation of any staff bearing the name he gave me in Kano branch and was told no-one has such name on their system.

VIN?Location?

Pictures!Interested

How much for the C-Class??

Please how much can you get for me 2002 Lexus ES 300?

Please can we have the car VIN number?Interested!