₦airaland Forum

nairalanda1:
That N187 was made possible by massive printing of naira and borrowing.

Fact is, we did not remove subsidy in 2012, when we should have. The result was that government was forced to borrow to maintain the subsidy. And that created a massive debt, and also forced the Buhari government to raid the forex reserves...just to pay for the subsidy.

The result was the subsidy being removed to at least allow the government have some spending money, otherwise things would have really been bad.

Most African countries charge as high as NIgeria, most even higher. Only five african countries have some form of subsidy on fuel, and even those, (apart from Libya that can pay for subsides and refinery upkeep without breaking a sweat because they have a very small population)...maintain it at the expense of debt. If all African countries subsidsied fuel like we do, even the oil producers, they would have collapsed economically ages ago.

Choose your wickedness...removal of subsidy with harsh price increases but the chance of improved domestic refining and more jobs, and no more borrowing to fund subsidy, or maintianing subsidy with the borrowing it entails.

Zinny25:
I don't need you to take me serious. Just posting what I feel like. If you want to see my real face, come to my house in Port Harcourt.

Zinny25:
I don't need you to take me serious. Just posting what I feel like. If you want to see my real face, come to my house in Port Harcourt.