Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,695 members, 7,979,341 topics. Date: Saturday, 19 October 2024 at 06:50 AM |
Nairaland Forum / Nairaland / General / Politics / Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy (11974 Views)
Northern Petrol Marketers To Embark On Strike Over N250bn Unpaid Subsidy / Zainab Ahmed: We Have Spent Over ₦157 Billion On Second Niger Bridge So Far / Zainab Ahmed: We Have Identified Plans To Generate ₦18 Trillion Revenue (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 7:08am On Nov 25, 2021 |
adonainana: Words on marble |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by ivolt: 7:08am On Nov 25, 2021 |
Oh, you are "wasting" 250 billion Naira on subsidy but want to start spending 200 billion to subsidize transport. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by ivolt: 7:11am On Nov 25, 2021 |
hustla:Fixing refineries will not make any big impact on price of fuel but will boost the economy and create jobs. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:13am On Nov 25, 2021 |
backbencher: No one has said anything about running a refinery at a loss or keeping subsidy When the refineries are given new owners subsidy would abruptly come to an end What’s the government problem again with refining petrol after privatization which is exactly what the explanation above has been on |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by obinna58(m): 7:14am On Nov 25, 2021 |
adonainana:No be same crude oil naija delta people dey refine manually after mining illegally Nigerian problem isn't not being able to refine oil, the problem is trusted people are not available to do the work, we all see government money as national cake. No Nigerian government owned industries or companies are making profit. They're just there working with no passion or interest for their work, no pressure just work. Make profit or not at the end you'll protest for your salary. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:16am On Nov 25, 2021 |
adonainana: Well, okay I just wanted to know you got my point ...that refineries have to be run profitably for them to work well. I also hope you would get it why prices have to initially rise, and why subsidy payments have to end now....because no investor is going to come in, refine fuel at a certain price and then be told to sell it below the price , and then get paid a subsidy that does not begin to cover their losses. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by joey150(m): 7:18am On Nov 25, 2021 |
adonainana: You make salient points but you demonstrate a crude understanding of economics and infrastructure. 1. You cannot build a 2GW power plant in 2 months. That's an absolutely ridiculous thing to say. Solving Nigeria's power issue will cost 100's of millions of dollars and will take at least a decade. Again, money Nigeria does not have. 2. Nigeria's refinery not working is more of a political problem. Because a few people are happy with the status quo. Even at that, a lot of the money that should be used to fix refineries have been pilfered. Nigeria currently borrows to pay its own workers and run a very bloated government. Subsidy has to go because it simply cannot be sustained. Whether you like APC or not it's the truth. GEJ should have went through with it in 2012. The biggest winners from subsidy aren't the masses or the cheap fuel they 'enjoy,' It's those with fuel import licenses fleecing the country dry. 2 Likes 2 Shares |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 7:19am On Nov 25, 2021 |
backbencher: I have educated you before and I will continue to. Subsidy and your excuse is not the reason our refineries failed. Our refineries failed when IBB made it mandatory for NNPC to seek presidential approval to carry out routine maintenance at the refineries. That singular move is what sank the refineries not subsidies. Quit the lies. Also, you made an analogy of Niger Republic whose only refinery is run by the Chinese and sell fuel for N370 equivalent. Since you agree the refinery runs at a profit and it's been operating since 2011 thereabouts, can you explain why more refineries have not sprang up in Niger and why their fuel is still expensive than ours. Also note there was a while the refinery stopped working even as it's running profitably. Your theory is a farce. 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:21am On Nov 25, 2021 |
backbencher: I get your point subsidy would have been removed way way before, the privatization is simply to solve the problems once and for all FG: Who wants to buy refinery ? Random investor: Me sir okay FG sells to investor and the investor finds his bearing On price the forces of demand and supply fix the price accordingly The point is the real problem must be fixed |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Ojayk(m): 7:23am On Nov 25, 2021 |
Hmmm, This administration frustrated GEJ administration saying that subsidy is a full scam. They got into power and operated the same scam called subsidy for 7 years and are removing it at their last year in office. What stopped them from removing the subsidy at the beginning of their second term in office at least? What assurances do we have that next administration will not revert to the subsidy scam on assumption of office? For the 5k, of what impact will it make to the man on the street and for how long? Another mini cash out scheme. BeeBeeOoh: 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:23am On Nov 25, 2021 |
adonainana: At the end of the day, things have to be run profitably...which is why subsidy has to go. I have been supporting subsidy removal for over ten years now. It is a damaging thing to Nigeria and Nigerians. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by lexy2014: 7:23am On Nov 25, 2021 |
backbencher: government destroyed the refineries. the reason the refineries arent working isnt because there was no money for TAM. it was simply because the money allocated for TAM was never used for TAM. i thought u said there was never subsidy removal. now u are talking of how "previous subsidy removal worked". like government, you are now contradicting yourself. which workers salaries keeps rising? how often does price of crude keep rising? as the price increases, is the government not making profit from the increase? which cost price? kindly give itemise all the items that go into the production of a litre of petrol and give me the price of each item you are now mentioning corruption which you should have mentioned in the first place. who is causing the corruption and what form does it take? 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 7:24am On Nov 25, 2021 |
backbencher: Another lie. Is there any marketer selling petrol at a loss in Nigeria presently even with subsidy? To answer your question, be aware that Nigeria has more filling station per square kilometre than the US. One wonders why such an unprofitable business has so many operators. 3 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by orisa37: 7:27am On Nov 25, 2021 |
"I DON'T KNOW DEBIT AND CREDIT". |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:28am On Nov 25, 2021 |
lexy2014: Good morning I am sorry that I won't be able to answer your questions in the manner you would want them to be answered. However, as promised, I am going to post a link below that may go some way in answering the questions you have Fuel subsidies in Nigeria: they’re bad for the economy, but the lifeblood of politicians Good morning, and do have a good day. Apologies for not being of help. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:28am On Nov 25, 2021 |
joey150: I stopped reading when I got to the GEJ, APC, PDP this that Politicians milking the country dry Nigeria borrowing to pay workers salary Did you even comprehend my initial write up in the first place Young man Nigerian currently generates 12,000 megawatts of electricity right I repeat if you want times 10 of that built in this Nigeria you will get it If you are ready If solving Nigerian power problem for instance will cost 100 million of dollars then this is why I said Nigeria can seek help if she is ready about Elon musk and Jeff bezos wrapped themselves in one funny shaped tube and went to space for like 3 minutes and 1 billion dollars don finish All American fighter jets costs millions of dollars and The US only uses them to kill people So pls don’t even annoy me with GEJ OR ANY POLITICS gist , i repeat if Nigeria wants unlimited power supply built within the next 2 months she will get it ASAP 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by smokeyupu(m): 7:33am On Nov 25, 2021 |
BUILD A REFINERY AND STOP THE IMPORTATION OF REFINED PRODUCTS. ALL THIS TALK ABOUT SUBSIDY WILL NOT BE THERE IF YOU'VE BEING DOING THE RIGHT. SELFISH AND GREEDY POLITICIANS ONLY CARE ABOUT REVENUE ACCRUING MONTHLY TO THEM.. NIGERIANS HAVE SUFFERED ENOUGH OF THE WRONG POLICIES. REMOVING THIS "SUBSIDY" IMPOSED MIGHT BE THE STRAW THAT'LL BREAK THE CAMELS BACK. PEOPLE ARE SUFFERING!!!!!!! 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by smokeyupu(m): 7:34am On Nov 25, 2021 |
This woman dey well so! |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by joey150(m): 7:34am On Nov 25, 2021 |
adonainana: You clearly have no idea what 2GW is. And you clearly don't understand Engineering and power plants. Please read up and stop insulting your education. Nigeria isn't America. It's a poor third world country. Stop screaming America and Elon Musk, they have no interest in developing your corrupt country. Nigeria is a sovereign state. Nobody is going to come and rescue you. It's laughable that you think you can force developemt that takes decades of planning to happen to exist in two months as long as "you're ready." It's people like you that believed a naira could be equal to a dollar when we are "ready." 1 Like 1 Share |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by manunitedbabes: 7:35am On Nov 25, 2021 |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:35am On Nov 25, 2021 |
backbencher: But subsidy removal although long overdue won’t change much It must be removed for sure but what about the problems that brought about the idea to subsidize the petrol in the first place Cos as things stand by next year June the 250 billion naira a month subsidy is removed, fine everyone goes home, fuel is 250 per liter fine Just like the importation of tokunbo cars, petrol is simply imported and sold at a profitable price, no problem Then 8 months years later crude oil falls FG revenue falls, dollars goes Astronimically high , just like how expensive it has become to import tokunbo cars, fuel too has become expensive to import , Fuel is now being sold as a result at 450 per liter What are you going to tell the common man on the street that 8 months after subsidy was removed fuel increased again from 250 to 450 per liter 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Agbegbaorogboye: 7:36am On Nov 25, 2021 |
adonainana: Don't let him remove from the nice points you made. You mentioned three countries, North Korea, Russia and UK. He picked on North Korea because they don't have a refinery while the point you were making is there are countries who can get our refineries working if we really want them to. He's a propagandist and that's what they do. They cover the truth with their "own truths" and push it forward to reach a predetermined end. The problem of our refineries not working is govt ineptitude and lack of will nothing else. That's the point you made and it's very valid 1 Like |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:37am On Nov 25, 2021 |
smokeyupu: The problem with 'build a refinery' things 1.The source of money for the refinery is in question 2.Dangote is building a refinery. He took a loan to build the refinery...which when I last checked, accounted for 2/3 rds of the cost of the refinery 3.Besides government is renovating the Port Harcourt and Warri refienries by the way. 4.The revenue from oil is not sufficent to pay for our entire budget and has been for over ten years. Thus the only way we can get money for a new refinery is EITHER by taking a loan, or by rasing money from taxing eveyrone in this country. 5.Somewhere, someone said we are wasting $26 billion on exisiting refinereis annually....That money could build three new refinereis...but then again that leaves us with the question of the old refineries...do we leave them to waste ...meaning loss of money...or sell them...meaning loss of money |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by alizma: 7:40am On Nov 25, 2021 |
aralc:Before you get to Togo, ask how much is a little of fuel over there. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:43am On Nov 25, 2021 |
adonainana: That's why we should vote in governments who would actually diversify our economy I have not been a fan of both APC and PDP myself since democracy came back because none of them have had actual plans to diversify the economy away from oil.(infact I have always voted for third parties since 2003...when it became possible). The truth is, we need to diversify away from oil, and become an industrial economy like China...because that's what strong nations do. But we all want to sell raw materials, oil included and import what we need with the money earned. That puts a strain on our dollar revenue, and gets us into more debt. At the end of the day, APC hasn't diversifed the economy, and PDP isn't ready to do so. I wish we could have someone like Moghalu or even SLS or the Kowa party woman that ran in 2015, but at the end of the day, most Nigerians don't love book candiates, or candidates that would end free stuff. P.S To mittigate the removal of fuel subsidy suffering...government needs to spend more on public transport. GEJ had that idea with an aspect of SURE-P...if it wasn';t badly misnmanaged in the end sadly. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:45am On Nov 25, 2021 |
joey150: On a second note Even the 2 GW is even absurd for a population of just 200 million people , when we don’t want to fry them to death inside thier house The quote being ready means with the right visiionable leaders the right steps can be made Even rouge nations like North Korea and China will easily help you Asking for help and not gettin help is different from keeping your mouth shut and suffering in silence Power genenration is a 18th century problem If there is a 18th century problem some countries overcame in the 18th century and you are still battling with it in 2021, then simply go to the countries that solved their problems 300 years ago and ask for help Power generation is simply engineering Rocket science isn’t By 2024, some people are planning to go and live in mars and stay there indefinitely , is it grass they will be eating throughout and is magic they will be using to power thier applicances throughtout That’s the problem with you village people, you don’t know how advanced the world is now Any suggestion that tries solve Nigerian problems once and for all you keep arguing blindlessly like you know what you are talking about It’s even more unfortunate People like you also hold the realm of power and their reasoning is very limited like yours, who told you 1 dollar must be equal to 1 naira before things start working right Where did you get that one from 2 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by adonainana: 7:48am On Nov 25, 2021 |
backbencher: Omo I don’t think this has answered the question ooooo cos all this are political suggestions APC this PDP that NPC this |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:54am On Nov 25, 2021 |
aralc: One liter of fuel in Togo= N357 Minimum wage in Togo : N24,600 Purchasing power Togo: 236.8 lcu One liter of fuel in Nigeria: N162 Minimum wage in Nigeria: 30000 naira Purchasing power parity : 144 icu ( that means Nigeria is better than Togo. Egypt's PPP is 4.3, South Africa is 6.9.) n.b Does not mean Nigeria is great...there is room for improvement . But better than Togo by far). ( Grass is greener. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Nobody: 7:55am On Nov 25, 2021 |
adonainana: Yes, because developing the economy is a function of who we chose as leaders. They set the policies, they make the decisions, we choose them. Or allow them to be chosen. Welcome to reality. |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Lordave: 7:55am On Nov 25, 2021 |
Pension Fund gone Abacha Loots gone Borrowed funds(International Loans) gone Recovered Osborn Towers Loots gone Palliatives/USaid/ and other free moneys gone Subsidy warming up at the corner. What Buhari cannot loot does not exist! 3 Likes |
Re: Zainab Ahmed: We Can't Continue, Nigeria Losing N250bn Monthly On Fuel Subsidy by Perfectbeing(m): 7:57am On Nov 25, 2021 |
N5000 times 40,000,000 will give us 200,000,000,000 (two hundred billion naira), just 50 billion short of what they spend monthly on subsidy. Well, since they said they'll pay this stipend for a maximum of 1 years, then its not that bad.. Only enemies of the state would see something wrong with this subsidy removal. We can't sacrifice economic growth for cheap fuel.. Next is electricity subsidy.. |
(1) (2) (3) (4) (5) (6) (Reply)
15 Farmers Killed In Fresh Fulani, Agatu Clash / PDP To Hold Convention On The 12th Of August 2017 / Reno Omokri Advises Fayose Not To Leave PDP
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92 |