If the Federal govt bow to peoples demand and reverse the removal of fuel subsidy, do you think the price of commodities especially food will come down to where it was when subsidy was not removed? Most times Nigerian economy defy logic due to greediness on the part of Nigerians who are sellers in order to make undue profit. Do you really think it is petrol alone that is responsible for the increase in the price of commodities? When Dangote crash the price of diesel, did we see any reduction in the price of goods that powered via diesel? What temporary measures do you think the govt can adopt that can crash the price of goods by at least 70% so that the masses will feel relieved of these suffering.

It's a start.

Give it 2 weeks or a month.

I concur with the NIGERIA ECONOMICS DEFY LOGIC part
Our own type of economics should have its own curricula and be studied

But seriously at this point something drastic need to be done, the wahala is just too much , how can 1 cup of beans be 500,

So if going back to subsidy is an attempted solution, let's do that, plus the subsidy of a thing is easier now.

Like Buhari said in his infamous interview,
Collect our own share of fuel fro IOCs, take it to Dangote refinery, pay the refinery fee and sell it back Nigerians at relatively cheap price, there is no need to source forex or keep importing etc

badoh:
If the Federal govt bow to peoples demand and reverse the removal of fuel subsidy, do you think the price of commodities especially food will come down to where it was when subsidy was not removed? Most times Nigerian economy defy logic due to greediness on the part of Nigerians who are sellers in order to make undue profit. Do you really think it is petrol alone that is responsible for the increase in the price of commodities? When Dangote crash the price of diesel, did we see any reduction in the price of goods that powered via diesel? What temporary measures do you think the govt can adopt that can crash the price of goods by at least 70% so that the masses will feel relieved of these suffering.

NNPCL is still subsidizing on behalf of the FG, only the strengtning of the naira will make food prices and petrol fall

badoh:
If the Federal govt bow to peoples demand and reverse the removal of fuel subsidy, do you think the price of commodities especially food will come down to where it was when subsidy was not removed? Most times Nigerian economy defy logic due to greediness on the part of Nigerians who are sellers in order to make undue profit. Do you really think it is petrol alone that is responsible for the increase in the price of commodities? When Dangote crash the price of diesel, did we see any reduction in the price of goods that powered via diesel? What temporary measures do you think the govt can adopt that can crash the price of goods by at least 70% so that the masses will feel relieved of these suffering.

The deed is done Tinubu returned subsidies since June last year

Petrol price is about ₦1450 ask those in Ghana , togo, Cameroon, niger, and the rest

It's subsidy thats keeping it at 650

RealLordZeus:
I concur with the NIGERIA ECONOMICS DEFY LOGIC part
Our own type of economics should have its own curricula and be studied

But seriously at this point something drastic need to be done, the wahala is just too much , how can 1 cup of beans be 500,

So if going back to subsidy is an attempted solution, let's do that, plus the subsidy of a thing is easier now.

Like Buhari said in his infamous interview,
Collect our own share of fuel fro IOCs, take it to Dangote refinery, pay the refinery fee and sell it back Nigerians at relatively cheap price, there is no need to source forex or keep importing etc

Nigerian Economy doesn't defy any logic
You just have people who vote incompetent people

Fixing Nigeria problem is super easy
Argentina was in a worse state elected a good president less than 6 months ago they have stabilized

Zambia same

Egypt same

Na you elect rubbish

mrvitalis:

Nigerian Economy doesn't defy any logic
You just have people who vote incompetent people

Fixing Nigeria problem is super easy
Argentina was in a worse state elected a good president less than 6 months ago they have stabilized

Zambia same

Egypt same

Na you elect rubbish

The reason why I usually refrain from engaging you guys is because you all think everybody on Nairaland is party affiliated and we are all having one or another party ideology.

All the three fore runners in the last presidential has been tested politically although HE Atiku Abubakar was deputising someone but yet when they are in power, they forgot to applied that 6 month fix to their respective domain.

I know you will reply with mediocre stats on why your anointed candidate is the best, but the actual result is evident, what are the results of the fixes barely 20years after their reign and while they are on seat , all 3 were accused of monumental corruption, our fundamental issues were not resolved then.

Abeg I no get strength to dey form online warrior, Tinubunomics dey do me shege

The transport component of cost will engender the price reduction though not immediately as people will have to sell off the old stock. With the new stocks coming in, the prices will continue to fall but again, there is this Nigerian factor.

RealLordZeus:


The reason why I usually refrain from engaging you guys is because you all think everybody on Nairaland is party affiliated and we are all having one or another party ideology.

All the three fore runners in the last presidential has been tested politically although HE Atiku Abubakar was deputising someone but yet when they are in power, they forgot to applied that 6 month fix to their respective domain.

I know you will reply with mediocre stats on why your anointed candidate is the best, but the actual result is evident, what are the results of the fixes barely 20years after their reign and while they are on seat , all 3 were accused of monumental corruption, our fundamental issues were not resolved then.

Abeg I no get strength to dey form online warrior, Tinubunomics dey do me shege

Anambra has the basic public medical system in Nigeria

I mean from. Primary to tertiary hospitals
Government and mission hospitals have formed a partnership initiated by Obi and it's working wonders

Anambra have the best public education system in Nigeria same ith the Heath sector there is a partnership between government and mission schools keeps the standard high and fees low in exchange for support from government

Should I talk about support for local industry?.

That aside state and federal government are not the same they are not in any way similar

States are largely governned by micro economics principles while federal is more of macro economics principles because lots of factors control fall under the domain of the president

I can go on and one where Tinubu made mistake and all.. But the simple thing
APC from Buhari and now Tinubu corruption and nepotism aside

They are focused too much on borrowing to do infrastructure, infrastructure that brings no revenue... That would sink u further and that's exactly what we are seeing

70% of our capital expenditure should go towards SMEs support in terms of low interests loans n grants this is how u kick start an economy

Go back n watch obi debate with Osibanjo he was very very clear.. You don't build infrastructure when your economy is struggling you don't... U invest in SMEs grew revenue when revenue is more than recurrent expenditure and debt servicing then you can build infrastructure

It's basic developmental economics oga it's simple

mrvitalis:

Nigerian Economy doesn't defy any logic
You just have people who vote incompetent people

Fixing Nigeria problem is super easy
Argentina was in a worse state elected a good president less than 6 months ago they have stabilized

It would be good to have a guy like Argentina's current presido...but Nigerians will throw him out in two weeks...and I am being optimistic here.(Also not joking)

Plus the only reason he got voted in was because Argentines were fed up with business as usual politics.