₦airaland Forum

Army Graduates 559 Repentant Boko Haram Fighters pic.twitter.com/n4nQSqijvH

— Channels Television (@channelstv) March 13, 2022

Dapson73:
Most 5% dot in the circle know that Asiwaju is the incoming president. Even, Obasanjo denounced supporting their candidate

I can't wait for Asiwaju to starts turning things around for Nigerians betterment.

I will advise you people to join the moving train of Asiwaju, the winning team and quit emotional blackmailing.

God bless Nigeria

LeoDeKing:
The very first statement summarises the whole report and it reads:
[b][/b]

Congo jews know this, and this explains the endless social media tantrums against the incoming president.

They say Tinubu will not be president.

This is exactly what they said to Buhari in 2015, "Buhari will not be president".

Oh, just remembered, jubrin from Sudan is the president of Nigeria.

Brainless group of animals.

Gentlelife50:
I thought I am the only one noticing this, how traffic in Victoria island and ikoyi suddenly disappeared immediately the toll gate stopped working.
Anyways bros no just hype your hope, nobody will protest anything they will just absorb everything as usual. No be naija?

lexy2014:
How is Tinubu the best choice?

davit:
In another news, guys brace up. Toll Gates at Lekki corridors will start performing optimally in days to come.

Iyaebe:
Yes he’s the next president and there’s nothing you can do about it

backbencher:
We are not paying subsidy to a white man's country.

What we do is import fuel ....that we refine in bad refineries abroad to keep subsidy costs down....refined from our crude, and make NNPC sell it at a loss to keep it cheap

Subsidy money then goes to NNPC to cover its losses from importing fuel at N330 and selling it at N162.

Problem is, as cost of refining fuel goes up, the cost of the subsidy goes up.

We keep costs low by refining in substandard refineries, and 'swapping' fuel for crude..otherwise our subsidy costs would be much higher than it is.

That still does not make things better.


As for domestic refining...the threat of subsidy is what keeps out most people from refining. If government is setting your price, you won't get return on investments. Banks won't lend to you for your refinery. (Dangote can build his own, because if he does not pay back the money, the banks take over his other lucrative investments to pay themsevles back)

GAZZUZZ:
This is one of the few things a common Nigerian benefits from being a Nigerian in an oil producing country.

We are not the only country that subsidised petroleum products, the UAE , Bahrain, etc subsidize products BUT have functional refineries that refine crude.

Until the govt can refine petroleum products locally subsidy should continue.

Do you know graduates still earn ₦40,000 per month in certain quarters? Do you know what removal of subsidy will do? End sars will be child's play, the govt will give the populace a common enemy.

backbencher:
Okay here is how subsidy works in principle.

Fuel as at 3 days ago, cost N330 to bring in. We sell that fuel at N162, the money paid to cover the resulting loss is called the subsidy.

The problem is, we refine all our fuel abroad because refineries are in a bad state...and even if they were not, we would have to import some fuel

Why we refine our fuel abroad is simple...when we had refineries, initially, they were allowed to sell fuel at a profit, and then government paid part of the costs...that was the subsidy then

Then from the late 1980's, government started making the refineries sell fuel below their production cost...which meant they started losing money...but then government paid them a subsidy to cover the loss. Naturally, rising costs meant that the subsidy could not cover the whole thing...which led to our refineries breaking down and by 2011, producing 6million liters of fuel a day., down from the over 20 million they were capable of. Sabotage and corruption did the rest of the job.....because the refineries were dependent onsubsidy to survive, not profit.

So, we started importing fuel, and selling it below the production cost. Intially, NNPC was one of several importers. The number of importers kept on growing until we had a large number of them...which led to subsidy costs rising, and a lot of corruption...people making false subsidy claims on fuel not imported...till Bubu made NNPC the sole importer.

Also, to keep fuel below the production cost, we refine crude in substandard refineries abroad. That keeps subsidy costs low, but leaves us at risk of bad fuel, and even then, PMS in this country is very dirty.

So, that;s it in a nutshell.

Basically, in order to ensure cheap fuel, we sell it at a loss, and pay a subsidy to cover the loss...

chillex8:
Luck ran out on this indrive rider last night.

Trip ended 2k, oya do my transfer: She pressed my aza, called my name, and said DONE.

I said, hol up hol up. Let me confirm credit alert or show me your debit notification.
She waited small and opened the car door saying she wants to check something inside the compound.

I waited 10mins, no alert no sign of her.

I looked back where she sat and saw an iphone X.
I grinned with joy . Waited another 10mims, no alert no sign of her.

I zoomed off.

1hour later, grin grin grin on my fone.
It's her. Errrm pls where are you, I left my fone in your car.

Me- Where is my money

Rider- pls na where are you

Me- Shebi you think say u dey wise? Send my money and you will book an uber from my location to return the fone. Bye. Hung up.

Grin grin grin grin
Me- Hello, you are?

Riders girlfriend- Pls it's me riders friend . She explained what happened. I'm sorry. Where are u?

Me- I have told her to send my money then she can book another uber from my location to hers'.

Riders girlfriend- pls send your aza to her, she will do it.

Me- ok bye.

Sent my aza to her since last night, nothing nothing.

This morning, Rider calls again.
Me- It's like you are joking with me abi?

Rider- pls na where are you?

Me- Bangs call.

Fone rings again

Me- Hello, you are?

Riders Manfriend- Pls it's me riders friend. Sorry about last night. Can you send your aza to me?

Me- Ask your friend, she has it. Let her give you. I'm driving and can't type.

Rider manfriend- Pls, just send to me I will transfer your money.

Me- When I park I will send it, I'm in traffic on eko bridge heading to lekki.

Riders Manfriend - OK, thank you sir.


I'm still in traffic.
This rider wan play me wayo but amadioha no gree. Nonsense

eyinola:
my thoughts too.. and why na only bolt dey shut down by 12am , I guess they don't know their rival uber now works 24/7

michael1508:
Please let's separate God and politics,we are victims of the choices we made