Stats: 3,187,423 members, 7,932,366 topics. Date: Tuesday, 27 August 2024 at 04:52 AM |
Nairaland Forum / Nairaland / General / Politics / Five Benefits Of Fuel Subsidy Removal (998 Views)
FG To Pay Nigerians Transport Allowance After Fuel Subsidy Removal- Zainab Ahmed / Senate Mulls Naira Devaluation, Subsidy Removal Over COVID-19 / FG To Look Into Gradual Removal Of Fuel Subsidy - Minister (2) (3) (4)
Five Benefits Of Fuel Subsidy Removal by SamuelOamen: 12:26pm On May 30, 2023 |
President Bola Tinubu on Monday announced fuel subsidy was gone because there is no budgetary allocation for it after June. What is fuel subsidy? Fuel subsidies are a form of government intervention to reduce the cost of fuel by providing direct financial support to oil companies, and as such, subsidise the product to consumers (Nigerians). Nigeria is one of Africa’s largest producers of crude oil, and it relies heavily on this resource for its economic growth. The 2023 budget proposed N2.557trn supplementary budget for fuel subsidy. Here are five benefits of fuel subsidy removal: 1. Fuel subsidy removal, according to experts, would free up resources for other sectors of the economy. 2. The government spends a significant portion of its budget on fuel subsidies, which could be better spent on education, healthcare, infrastructure development, amongst other key sectors. 3. Establishments of domestic refineries to produce more petroleum products, reducing Nigeria’s dependence on imported fuel. 4. Availability of domestic refineries will boost the country’s economy 5. Massive creation of jobs for Nigerians. https://thenationonlineng.net/five-benefits-of-fuel-subsidy-removal/
|
Re: Five Benefits Of Fuel Subsidy Removal by OKUCHI11(m): 12:31pm On May 30, 2023 |
Please you people should apologize to Good luck... Ebele Jonathan... 1 Like |
Re: Five Benefits Of Fuel Subsidy Removal by Ezeama400: 12:36pm On May 30, 2023 |
The necessary things are not yet in place and you are removing subsidy ? The subsidy will be removed, the money saved will be looted... In fact, more loot for FG because they won't use it to do what they promised.. Na d poor masses go suffer am.. Well we know the people it will hit most Subsidy is the only thing average Nigerian is benefiting from the government, yet they want to remove it and swallow the money as usual.. Nigerians will cry !!! 8 Likes |
Re: Five Benefits Of Fuel Subsidy Removal by Nobody: 12:37pm On May 30, 2023 |
Forget all the jargons you wrote there.Nigerians are not going to benefit in any removal of subsidy. It is shameful that an OPEC country like Nigeria will be suffering to get the commodity (at a giveaway that God) bury in our backyard.Nigerian politicians award themselves oil blocks and are exporting the commodity abroad.Thereby making trillions of dollars from the black gold while the people suffer.Is that how arab nations who also have oil suffers.? 4 Likes |
Re: Five Benefits Of Fuel Subsidy Removal by richidinho(m): 12:40pm On May 30, 2023 |
Rubbish The media propaganda has began, you can win election by propaganda but definitely you cant rule with that |
Re: Five Benefits Of Fuel Subsidy Removal by chrisxxx(m): 1:12pm On May 30, 2023 |
All these you wrote are all rubbish. Pure rubbish. UK and others want more Nigerians to leave to their countries. They make money from Nigerians coming to their countries. UK pays unemployed citizens. UK subsidizes transport for their citizens. Education is subsidized. Health care is free. The only thing I benefit as a Nigerian is cheap energy. The others I provide. Our leaders cant handle excess money as exemplified in all oil booms we have had. We do not want anything from our leaders save cheap energy. 3 Likes 2 Shares |
Re: Five Benefits Of Fuel Subsidy Removal by Vischy: 1:17pm On May 30, 2023 |
We can't forget how Tinubu and his mumu Apc supporters protested against fuel subsidy removal in 2012. Shameless people... 1 Like
|
Re: Five Benefits Of Fuel Subsidy Removal by Lyrics269: 1:26pm On May 30, 2023 |
IPOB terrorist with their asha.wo wife will not like this |
Re: Five Benefits Of Fuel Subsidy Removal by CodeTemplar: 2:03pm On May 30, 2023 |
The next lie the will tell us is that infrastructure will come with time and that we should be patient with them, then they will loot the saved subsidy funds and start investing in petroleum refining for their unborn generation. 1 Like |
Re: Five Benefits Of Fuel Subsidy Removal by Goodman2023: 2:05pm On May 30, 2023 |
Breaking News, Obi supporters are buying fuel at N600 per litre while balablues are buying it at N210 per litre. Congratulations to all of you.... 1 Like |
Re: Five Benefits Of Fuel Subsidy Removal by Goodman2023: 2:06pm On May 30, 2023 |
SamuelOamen: On paper you are very correct...but in reality, you are wrong... Do you think corruption will effectively diversify the excess resources to other sectors ? Removal of Subsidy will create jobs ? That's on paper...in reality, there is hardship 1 Like |
Re: Five Benefits Of Fuel Subsidy Removal by savcy(m): 2:10pm On May 30, 2023 |
Time to let it go. Let's see what the government's excuse is going to be from now on. Subsidy was like the only way the common man benefitted directly from their God-given resources. Now that it's gone, let's see what the excuse for underperformance would be. 2 Likes |
Re: Five Benefits Of Fuel Subsidy Removal by keymatt(m): 2:12pm On May 30, 2023 |
Even with a stolen mandate, Tinubu can't govern ![]() |
Re: Five Benefits Of Fuel Subsidy Removal by keymatt(m): 2:14pm On May 30, 2023 |
Lyrics269:I hope your mandate theif is selling you fuel ⛽ at N50 per liter. Enjoy your temporary President while it lasts. ![]() ![]() ![]() |
Re: Five Benefits Of Fuel Subsidy Removal by Lyrics269: 2:16pm On May 30, 2023 |
keymatt:Obi nyash will never sit on presidential sit |
Re: Five Benefits Of Fuel Subsidy Removal by honestivo(m): 2:24pm On May 30, 2023 |
Funny enough we wont see any of these benefits after removal of subsidy |
Re: Five Benefits Of Fuel Subsidy Removal by chrisxxx(m): 6:34am On Jun 02, 2023 |
No wonder Nigerians are running to Ghana. Ghana is like Europe now. |
(1) (Reply)
Could This Woman Be The Best Comptroller General Of Immigration? / Shame On INEC As Witness Couldn't Read Results Downloaded From IREV Portal / Tinubu Supper Caught With An Alternate Twitter Handle Claiming Obidient.(pics)
(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. 18 |