Looking at how subsidy removal may cause hyper-inflation what is the possibility of those lesser Nigerian currency surviving because fuel at almost 750/litres may aswell wipe out #20 downward. This subsidy of a thing is getting real.
Imagine life after subsidy removal.

Bfly:
Looking at how subsidy removal may cause hyper-inflation what is the possibility of those lesser Nigerian currency surviving because fuel at almost 750/litres may aswell wipe out #20 downward. This subsidy of a thing is getting real.
Imagine life after subsidy removal.

The poor will get poorer

Let them bring it on. We are ready for anything . Am optimistic about this new government though

We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

Why not build our own refinery if an individual can

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

All those advance countries have stable electricity, good health care system good roads everyone is equal

Till this very moment, I find it difficult to know that an average guy in Rivers state boil/ produce petrol from crude oil (bunkering).

Yet our federal government CAN'T to make life easier for it's citizens.

Can somebody please explain to me?

Divoc19:
Let them bring it on. We are ready for anything . Am optimistic about this new government though

Same way you were optimistic about the Buhari government.

My own na to buy bicycle now and keep., because fuel will be regarded as gold after subsidy removal.

After the removal, prices of bicycle will triple.

Dafresh:

All those advance countries have stable electricity, good health care system good roads everyone is equal

Yes they could have those things because they dont waste billions on petrol subsidy....they instead have effective transport system thats affordable.
The moment we stop petrol subsidy, some of these things will become achievable

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

Even in south africa it's about $3 per liter (N2250)

1Alex:
My own na to buy bicycle now and keep., because fuel will be regarded as gold after subsidy removal.

After the removal, prices of bicycle will triple.

The bread and tomatoes you buy is sold by people who use petrol.
Bicycle or not,.e.go reach everybody.

Whatever happens to it, Nigerians has gone through it all already, nothing scares us again...

tunwumi:
The currency will be stable as the loophole of subsidy payment will be blocked. But the main issue is the purchasing power within the economy as the price of fuel may be around 450-500.

Most Nigerian are unreasonable in commodity pricing, they are on the exploitation campaign. This is subject to a lot of uncertainty but the removal must be done. The government will have a lot of money at hand to spend with the removal.

We have to close mark the state governors as they will become wasteful due to surplus funds.

It will make a lot of sense if Dangote refinery can also come on stream. It will help to control the prices as transaction will be in niara.

The politicians will have a lot of money to spend on themselves.


The gains of subsidy removal will be highly enjoyed by politicians ehnn. They said Nigeria is broke and subsidy needs to go, yet a politician used 2bn to get someone to announce a fake election result. N2bn for announcement, 300bn for a pathetic election, 1bn for a fire fighter truck, etc.

Saviourfresh:
But why will Nairaland ban someone's account till 2033, is that not cruel?
There's a lady here with the username (Everythinggirly) I feel for her jare.

What did you do that they had to ban you for 10 years

Nothing significant. Kerosene subsidy was removed, we did not die. Diesel subsidy was removed, heaven did not fall. Cooking gas subsidy was removed, we all moved on. Naira is not tied to Fuel nor it's subsidy thereof.

There will be no hyper inflation as many predict. What causes the rise in price of commodities in this regard is mostly the haulage fare. Haulage is done largely with diesel and the effect has already been felt for some months now when naira fall pushed the price of diesel up.

What will happen is a mild rise of inflation orchestrated by rise in the cost of transportation. The effect will not be too significant

blackpanda:


Even in south africa it's about $3 per liter (N2250)

Since we are on a conversion spree, do you also know that the minimum salary of a domestic worker in South Africa is R2,929 (N74k)?


nowhere in South Africa is a litre of petrol sold for $3. The correct price is$1.3.

Don't just believe everything you read. I can tell you stories the way I want you to see it.

Every economy depends on government spending and every government is run by politician, every politician has a skeleton to hide.

Even Saint America has many things to hide.


In all this, I just hope the lesser evil we are hoping for at least focus on something.

If you read my earlier comment you will see that we have some many questions to asked the STATE Governors.

Many of them are brain dead. They can't run a supermarket profitability.

Acidosis:



The politicians will have a lot of money to spend on themselves.


The gains of subsidy removal will be highly enjoyed by politicians ehnn. They said Nigeria is broke and subsidy needs to go, yet a politician used 2bn to get someone to announce a fake election result. N2bn for announcement, 300bn for a pathetic election, 1bn for a fire fighter truck, etc.

the naira usually crashes within 6-12 months after fuel prices have been adjusted in the past. I expect the naira to further crash, leading to the reintroduction of under-recovery/subsidy. we keep repeating the same actions over and over again, yet each time we expect different results.

the world bank has told us to remove subsidies. they have also said we should increase taxation. if subsidies are removed and tax collections are increased, the naira should not fall. if however, our leaders only remove subsidies and do not increase taxation, the naira will certainly collapse again as it has done every time subsidies have been removed.

Dafresh:

All those advance countries have stable electricity, good health care system good roads everyone is equal

Atleast those countries started somewhere....

Acidosis:


Since we are on a conversion spree, do you also know that the average salary of a domestic worker in South Africa is R2,929 (N2,144,028)?

3000Rand is N79k

Stop spreading lies

uncleck:
Nothing significant. Kerosene subsidy was removed, we did not die. Diesel subsidy was removed, heaven did not fall. Cooking gas subsidy was removed, we all moved on. Naira is not tied to Fuel nor it's subsidy thereof.

There will be no hyper inflation as many predict. What causes the rise in price of commodities in this regard is mostly the haulage fare. Haulage is done largely with diesel and the effect has already been felt for some months now when naira fall pushed the price of diesel up.

What will happen is a mild rise of inflation orchestrated by rise in the cost of transportation. The effect will not be too significant

What type of haulage do you do with diesel? How many Nigerians use God is Goods Motors compared to Uber/Bolt, Okada, and Keke on a daily basis?

The only reason some Nigerians still go to work today is because, after deducting their t-fare from their salaries, they manage to save 10-20% for personal use. Just wait for subsidy removal... You will come back to edit this post.

uncleck:
Nothing significant. Kerosene subsidy was removed, we did not die. Diesel subsidy was removed, heaven did not fall. Cooking gas subsidy was removed, we all moved on. Naira is not tied to Fuel nor it's subsidy thereof.

There will be no hyper inflation as many predict. What causes the rise in price of commodities in this regard is mostly the haulage fare. Haulage is done largely with diesel and the effect has already been felt for some months now when naira fall pushed the price of diesel up.

What will happen is a mild rise of inflation orchestrated by rise in the cost of transportation. The effect will not be too significant

Then u don't know nigerians. Ordinary cash crunch as resulted in increase in prices of goods. Chk d price of food items

Difrent:
We will adjust with time. One thing you can never take away from Nigerians is resilience.
All those advanced countries our people rush to have dumped petrol subsidy decades ago...

u don’t have sense sha.Nigerians will buy fuel for 1k per liter if it has to be for car alone.Fueling ur car and fueling ur gen is not funny.Those countries u r talking they have a working transportation system.like here I don’t have a car,I can afford one but I don’t need it.

TradingGod:
3000Rand is N79k

Oh...right! I used USD instead of R.


However, nowhere in South Africa is a litre of petrol sold for $3. The correct price is$1.3.

Dafresh:

All those advance countries have stable electricity, good health care system good roads everyone is equal

the guy no get sense.The first thg a sensible govt would have done is to package our refineries.

Difrent:


Yes they could have those things because they dont waste billions on petrol subsidy....they instead have effective transport system thats affordable.
The moment we stop petrol subsidy, some of these things will become achievable

hey God arrange sense for some ppl na.Can u answer just this question?why don’t we refine our fuel ourselves.

blackpanda:


Even in south africa it's about $3 per liter (N2250)

not true

JUST REMOVE THE SUBSIDIES FIRST AND WE OBSERVE THE CONSEQUENCES FOR 3 MONTHS.
THE RICH ALSO WEEP.

uncleck:
Nothing significant. Kerosene subsidy was removed, we did not die. Diesel subsidy was removed, heaven did not fall. Cooking gas subsidy was removed, we all moved on. Naira is not tied to Fuel nor it's subsidy thereof.

There will be no hyper inflation as many predict. What causes the rise in price of commodities in this regard is mostly the haulage fare. Haulage is done largely with diesel and the effect has already been felt for some months now when naira fall pushed the price of diesel up.

What will happen is a mild rise of inflation orchestrated by rise in the cost of transportation. The effect will not be too significant

na English u Dey speak.ur eyes go soon clear