Nigeria's currently owing $32billion to both local & international peeps, open your eyes, subsidy would be used to finance the debt, IMF is evil

IMF can use a $1 debt to enslave a country, Nigeria is rich, Nigeria's development would make it a China for west African countries, the emergence of China caused America's economic woes.

Think about this I lend you money & ask you to pay an amount back(amortisation), I gave you the money telling you exactly what to do with it, I want to further keep you enslaved by giving you policies that'll ensure you are forever dependent on me, keep servicing loans with more money that you spend on key arears of the economy.
The World Bank would soon loan this govt huge amounts & this subsidy monies would be used in servicing it
@aribisala0, Nigeria does owe, do not be deceived, have you seen the budget proposal?

www.globalissues.org/article/3/structural-adjustment-a-major-cause-of-poverty

ITS ALL STRUCTURAL ADJUSTMENT PROGRAMS
What we need to do is to just think of what China did, deal with corruption & solve all problems
The subsidy removal would only increase corruption as the monies would be managed by the same known corrupt people, IMF knows that, IMF only wants us to keep selling crude oil to the west, mark my words, no refinery would be built!!!
Think PTDF (excess funds spent on projects), how is that different from subsidy?
Excess crude account shared by Yaradua/Jonathan
Oil windfall by IBB
This 1.3tr would be looted!!!

@ efisher, simple, increase in price of a commodity such as petrol would only further increase inflation, depreciate the naira, make the cost of doing business even higher, it would still be cheaper to import fuel meaning we would still subsidise & remove subsidy.
IMF gives conditions for loans & one of those conditions are removal of subsidies.
IMF doesn't want countries to be able to pay back these loans, subsidy removal further kill local industries as it would be even cheaper to do business outside & sell here, Jobs are created for the increasing Jobless americans & europeans

Structural Adjustment Program, Austerity, Subsidy removal (IMF tools to further impoverish third world countries) do not be deceived, name one country that has moved up after IMF policies?

@hisson3, they would if they can plant a puppet in power like our dear Jonathan, why do you think Jonathan says he's hailed internationally, simple he's a loyal puppet, market liberalisation has all the looks of the world bank, SAP, austerity measures, subsidy removal, deregulation, same thing, different names, it would only result in serious depreciation of the naira, which would lead to a crash in oil prices, increased poverty, increased external borrowing to try & control the inflation, sustained dependence on imported products, the already unfavourably cost of doing business would hit the roof, making it even more cheaper to import.
IMF & World bank. = EVIL!!!

The IMF is clearly behind all this subsidy thing, the coordinating minister of the economy happens to be a world bank stooge, subsidy is bad but this present government policy has all the trappings of a greek gift, read the link below.
I don't trust this government

http://www.globalissues.org/article/3/structural-adjustment-a-major-cause-of-poverty

@efisher, you're right about that but corruption & not socialism failed us, all the IMF does is ensure that we reduce investments in critical sectors of the economy which makes us dependent & of course makes western nations richer.
Nigerians don't love Nigeria, so they have the 'its not my father's business mentality'
Let us address the structure of this country & all will be well
@koruji, on point

@ efisher, capitalist economies create unequal societies, lack fiscal discipline due to its Jungle like nature (survival of the fittest), it seeks to cheat to make more money, it does have its benefits, but as long as we learn from western economies, we would only end up like them, America's debt is embarrassing, spain is broke, greece, name it.
All I'm saying is this as long as this subsidy thing is coming from IMF, I don't trust it, this people know us to be corrupt, the subsidy money would be looted with impunity, how can you remove subsidy & hand the money over to a government that clearly has a faulty structure, we still operate a sharing & contracts signing mentality, not a wealth creation mentality, the money would be shared & contracts that won't be executed would be awarded,
Oil windfall during Babangida- what happened to the excess funds?
Excess crude funds during Obasanjo what did Jonathan do with it?
Restructure to rebuild, I hope u get me, I support subsidy removal but I know the money would not save Nigerian economy from collapsing

I'm very not sure about this whole subsidy thing because it has world bank/IMF written all over it, europe & america is broke, & IMF policies have always further impoverished countries that have listened to them, China stopped listening to IMF, Brazil, India, If we can only sit down & think deep on how to solve Nigeria's problems & solve it our way, no 2 situations can be alike, Nigeria is a unique country that needs unique policies to take her to the next level, the world bank is against socialist structures as it limits foreign domination. America criticises all socialist economies, yet its capitalist economy is the world's biggest debtor.

I really don't understand what the subsidy is really for, if our refineries are working @ 32% capacity as we know, it means nigerians only pay for cost of crude + refining cost which is not up to N40, now the remaining crude is now refined abroad, is it that we pay for the cost of refining abroad? That should be the only logical way to do things as that would only add a little extra cost to it, do we sell to countries that refine & buy back @ international price?, that should just be a straight swap. I really need a full explanation on how NNPC arrived at their N138 per litre cuz it looks as though they sell the crude @ N0 & buy @ international prices

Every single statement Jonathan makes M̶̲̅ε̲̣ wonder how this guy became president, is that Nigerians are as daft as this guy?

A totally comatose educational sector to help in bringing succour to children who just had their parents murdered in cold blood, these children would be sponsored to schools that government officials wards don't attend
The only way justice can & would be done is if those who carried out the inhuman execution be brought to book!!!

It shouldn't stop there, they should stop all forms of hate preaching & probably do something about the verses in the quran that seems to validate the killing of Jews & xtians, as long as those things are still there, more & more youths would be brainwashed by dissident islamic scholars into carrying out more bloodshed

I weep for Nigeria, I don't know what we were expecting from Goofluck, he clearly has no track record, zero achievements as a governor & suddenly becomes a presidential aspirant & my gullible nigerians voted en- masse for him knowing fully well that the guy had nothing to offer, every single person that voted for Jonathan is responsible for the shit we find ourselves in today!

Talk talk talk, last year it happened we talked, it'll keep happening if we don't do something about it, blaming Mr Clueless Jonathan & hoping he'll do something is like hoping for a lame man to win an olympic gold in 100 metres dash, let us do something & stop talking, I suggest we split this british arrangement called 'Nigeria' & determine our own future

Just heard the news on Al-Jazeera now, this is truly sad

'Clueless Jonathan', he should have sent Prime Minister Okonjo Wahala, we all know he's a ceremonial president as every policy he proposes he can't present it confidently, he's just a figure head

Nigerian get the leaders they deserve, "We voted for GEJ and not PDP"  , well here is GEJ and he clearly had shown that he lacked the balls by telling an american ambassador that he wasn't qualified for the post. He's all about luck and great men aint the lucky men, they worked their balls off to be great, its time we stop having people who didn't prepare for such positions occupy them.

GEJ clearly is not fit to lead otueke not to talk of a culturally diverse country like Nigeria, "START THE REVOLUTION NOW"

GCON- Grand crook of the order of the Niger

OON- Ole of the order of the Niger

MFR- Member of the officer of the Federal Rogues

OFR- Officer of the Federal Rogues

GCFR- Grand Commader of the Federal Rogues (Goofluck Jonathan)

They clearly  deserve the awards  

this country and its clueless leader can't seem to do anything right, they just might compensate those who didn't get the medals with tax payers money  , i guess boko haram blew the medals

Start the revolution now o!!!

Thank God NYSC relocated me from that place, they kept telling us lies in camp that yobe is a safe place, that living faith has a lodge for corpers in that same area, I just hope no corper was involved in this  

The should reduce the national assembly's immoral allowances too, the new V.P's house currently being constructed costs 7 billion, if the really want to save more, the should stop the evil misappropriation of funds, these people have got no shame whatsoever, serious minded governments subsidies things that affect the generality of the people, the british government subsidies its transport sector, we know we don't have a government already and removing fuel subsidy would only help us start that much needed revolution (Jerry Rawlings type), we need to take back our land from these thieves

cowards, even NYSC batch C POP was cancelled, the fear of boko haram has become wisdom for our inept government led by the clueless GEJ

True, the best thing any president can do for this country is not power, roads, education or whatever, but conveying a sovereign national conference, let us know if we should split or still stay together and state the terms of association, if we continue like this the rot would continue, I don't know why we don't have a constitution in this country but we use a military decree called '1999 constitution', the present legislature can't amend it or make it acceptable to every nigerian cuz they are a product of the same decree, u can't use mud water to wash ur dirty clothes and expect it to be clean, if we don't convey this conference, I very much expect the 2015 prediction to happen.

Absolute nonsense, that way we get to turn our already half baked graduates to stale graduates, ow do u expect a engineering graduate for instance to teach secondary school students english language for a year and you still expect dat same graduate to even remember basic engineering terms, if you ask me I'll say just scrap the damn thing its a complete waste of time Absolute nonsense, that way we get to turn our already half baked graduates to stale graduates, ow do u expect a engineering graduate for instance to teach secondary school students english language for a year and you still expect dat same graduate to even remember basic engineering terms, if you ask me I'll say just scrap the damn thing its a complete waste of time

i was posted to yobe and i'm not going to a state that's close to boko haram headquaters, i pity some who were posted to borno and are planning to go, i have decided to leave this geographical expression called nigeria, masters on my mind, Tsiga should send his kids there

All he does is to give ultimatums and believe in luck, after bank ole resist arrest, i dey wait ooo

A welcome development, we hope it aint one of those PR stunts

I'm really disappointed by GEJ's comments, i have resorted not to vote for him anymore as he's shown me he lacks leadership qualities, i even had to 'unlike' him on facebook, its highly irresponsible to call other individuals such names, i think we all should support ribadu as he's the only better option, a vote for GEJ spells doom for this country.