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Petrol Price Hike Will Worsen Inflation - Punch Editorial - Politics (2) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Petrol Price Hike Will Worsen Inflation - Punch Editorial (7411 Views)

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Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Godsonkemz(m): 6:56am On Sep 07
Tinubu is not even disturbed by the negative effect of his decisions.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by highchief1: 6:56am On Sep 07
Bobloco:


https://punchng.com/petrol-price-hike-will-worsen-inflation/
all my calculations now is to see how I can kill tinubu.

2 Likes

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Zeebuy: 7:04am On Sep 07
Ebin pawa pro max, everybody must collect their own share of the shege

1 Like

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:08am On Sep 07
Funkyswagzz:


Bros Nigeria is not productive. Look at these keys issues: the palm oil we use to export was stopped, the ajokuta steel plant was never completed, the refineries stopped operation, and most importantly we do not generate enough electricity. If these four issues I mentioned are resolved Nigeria will be at a better place. We are our own problem stop talking about removing fuel subsidy other countries do pay subsidy. Taking off subsidy is like running away from your problems because you are too lazy to solve it.

Even the gold and other minerals mined in the north do not reflect on our federal coffers.

Damm right you are.

But the subsidy has to go. It is because of our unproductiveness that we don't have the cash to maintain it.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:09am On Sep 07
giacomogiovanni:


Tinubu and his band of criminals refused to allow President GEJ the freedom to do it then.

In my opinion GEJ should have just told them to shut up, and then removed the thing in its entirety.

2012 was the last time we could have done this subsidy removal painlessly. Now we have to do it in pains, lotsa pains.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:12am On Sep 07
DeepSight:


I have promised you that you will die of hunger and starvation in biting poverty. Its not too far away, just be a little patient, you will experience it. You cannot escape it. On the day of your death you will not be able to afford any food to eat or water to drink.

Thanks for your kind words, but regardless, subsidy is unsustainable.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:14am On Sep 07
DeepSight:


I have promised you that you will die of hunger and starvation in biting poverty. Its not too far away, just be a little patient, you will experience it. You cannot escape it. On the day of your death you will not be able to afford any food to eat or water to drink.

By the way, I am already dead, so it means nothing to me.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:17am On Sep 07
DeepSight:


Corruption is what is unsustainable you daftling.

Nevertheless, your death by starvation is a certainty.

Mark my words.

You will remember them when the end is near.

Thank you again for your gracious words, but the fact is, subsidy is unsustainable on a debt eating over 60% of our budget and a tax to gdp ratio of ten percent...and a budget of 18 billion dollars for 220 million people.

LIke you cannot go back and change the fact that on the 22 of November 1963, Kennedy was taken away from us, you can't change the fact that subsidy is unsustainable.

1 Like

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by oyeb15: 7:24am On Sep 07
Protest can't pay again. War is d answer now.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Omalicious1: 7:36am On Sep 07
Bobloco:


https://punchng.com/petrol-price-hike-will-worsen-inflation/

As long as the Western Bloc and IMF are giving him a pat on the back, Baba no sen una...highest, them go share rice.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Orlu13: 7:38am On Sep 07
oya Ronus come o

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Lanruze: 7:40am On Sep 07
Pardon me dear readers.

I respectfully say that President Bola Ahmed Tinubu's handlers and close associates are "Daft".

You can see your principal willingly embark on a suicide mission and you have kept mute.

Heineken Lokpobiri - Minister of State for Petroleum came on National TV to bareface lie to Nigeria that PMS price has been deregulated when a day before Dangote said clearly that NNPC is the sole domestic buyer of his PMS.

The Presidency should prepare in the coming days as half of the Nigerian Population will be charged for "treasonable felony ".

I mean how does this President think please ? Does the Presidency want to push reforms down the throat of its Citizens ? They say they don't want and can bearly survive is it by force ?
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Akwamkpuruamu: 7:43am On Sep 07
nairalanda1:


I believe that APC should have been voted out this last election (and in fact, APC would have lost the election if not for the division in the opposition)...but if your preferred candidate won, the same thing would have played out.

The problem is years of subsidising fuel have contributed to a massive debt problem for Nigeria. Keeping fuel below its production cost for years has meant years of deficit budgets and more deficit budgets.....meaning as at August 2022, we were spending 90% of our revenue on debt servicing.

A graded removal of fuel subsidy as some were proposing would have still left us in more debt (and tinubu is doing the same thing).

At the end, we should have removed subsidy in 2012. Even earlier.



Ladies and gentlemen, let's give a warm welcome to the god of this world....who made the above comment.

Do you know that if we can get the average and true volume of daily fuel consumption in Nigeria, subsidy can be effectively managed. Nigeria is a developing nation and can't do without subsidy even most developed nations have a form of subsidy in consumption of things that mostly affects their economy and standard of living.

Your take against anything subsidy is a form of hatred against the common man in Nigeria. There must be subsidy for this nation to grow. The issue is knocking off the corruption factor.

You don't cut off the head because you are having a migraine.

2 Likes

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Itwas: 7:44am On Sep 07
givedemwotowoto:
If this hardship doesn't cure the tribal bigotry in your blood for the next election, then nothing can cure it
The ronu people will never have sense,give them a plate of jollof rice with a little lump of meat and watch them sing the idiotic drug peddler's praise come 2027,they don't reason as humans.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 7:52am On Sep 07
Akwamkpuruamu:


Do you know that if we can get the average and true volume of daily fuel consumption in Nigeria, subsidy can be effectively managed. Nigeria is a developing nation and can't do without subsidy even most developed nations have a form of subsidy in consumption of things that mostly affects their economy and standard of living.

Your take against anything subsidy is a form of hatred against the common man in Nigeria. There must be subsidy for this nation to grow. The issue is knocking off the corruption factor.

You don't cut off the head because you are having a migraine.

Actually, it won't work because

1. The cost of production is not static.

2.It would involve border security of the kind that would cost us trillions to build and maintain

The main issue is smuggling....and smuggling happens in many countries with subsidised fuel...Saudi inclusive. If they can't solve it, I doubt we can.

The only way is to remove subsidy, and disincetivise smuggling and make it more profitable to refine at home instead of at Malta...

1 Like

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Akwamkpuruamu: 7:57am On Sep 07
nairalanda1:


Actually, it won't work because

1. The cost of production is not static.

2.It would involve border security of the kind that would cost us trillions to build and maintain

The main issue is smuggling....and smuggling happens in many countries with subsidised fuel...Saudi inclusive. If they can't solve it, I doubt we can.

The only way is to remove subsidy, and disincetivise smuggling and make it more profitable to refine at home instead of at Malta...

Ideally, are we even suppose to import fuel? Why can't the refinery work? If its working, would there be the need for a fuel subsidy?
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Iagos: 8:01am On Sep 07
Godsonkemz:
Tinubu is not even disturbed by the negative effect of his decisions.

No empathy. No remorse. No nothing

Is he a psychopath?
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:02am On Sep 07
Akwamkpuruamu:


Ideally, are we even suppose to import fuel? Why can't the refinery work? If its working, would there be the need for a fuel subsidy?

Because subsidy makes domestic refining unattractive, unless you are dangote with a collateral that banks can use to get back their money in case you default on the loans they give you for refinery here.

Right now, it would cost over N1000 to sell domestically refined fuel here. People want it to be sold at N200 or below. No one would be willing to refine fuel here

Plus keeping the cost of production low over the years by government to keep subsidy costs low is why we lost 4 refineries...and why refining capacity went from 400000 in the 1980's to 6000 barrels per day by 2019.

A refinery needs to make a profit to work well. That is why Niger and Ghana have working refineries...they sell the fuel at a profit.

2 Likes

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by anonimi: 8:10am On Sep 07
nairalanda1:
I believe that APC should have been voted out this last election (and in fact, APC would have lost the election if not for the division in the opposition)...but if your preferred candidate won, the same thing would have played out.

The problem is years of subsidising fuel have contributed to a massive debt problem for Nigeria. Keeping fuel below its production cost for years has meant years of deficit budgets and more deficit budgets.....meaning as at August 2022, we were spending 90% of our revenue on debt servicing.

A graded removal of fuel subsidy as some were proposing would have still left us in more debt (and tinubu is doing the same thing).

At the end, we should have removed subsidy in 2012. Even earlier.

Fayemi and his fellow smart APC members played politics with our destiny by getting Buhari’s 2011 running mate to lead the 2012 fuel deregulation protests.

Obasanjo’s oversized ego helped Tinubu make Buhari president in 2015, and unwittingly helped Tinubu become president last year.

1 Like 1 Share

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by finalgradecalcu: 8:12am On Sep 07
jayce232:

You will take it.
Nigerians only make mouth & adjust to every situation. Who would have thought 2 years ago fuel will sell for 1k by now & people will queue to buy it? Fuel will get to 3k by next year & people will only make mouth & adjust.
The new school year has arrived, I will diligently use final grade calculator to calculate grades
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Mandate1: 8:18am On Sep 07
nairalanda1:


Nigeria is subsidisng fuel now..

The landing cost of fuel is close to N1200 per liter. Even with the recent hike, the government is still paying something close to N200 in subsides or more

Without subsidy we would be paying something like N1300 or more per liter of fuel

It also costs N720 to refine a liter of fuel as well.
you open your mouth waaa, just dey yarn. So it costs #720 to produce a litre of fuel under Buhari, yet he sold a litre at #160? Na wa for una oo

2 Likes

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:23am On Sep 07
Mandate1:
you open your mouth waaa, just dey yarn. So it costs #720 to produce a litre of fuel under Buhari, yet he sold a litre at #160? Na wa for una oo

Thank you for your comment, but subsidy is unsutainable and has to go.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by Mandate1: 8:28am On Sep 07
nairalanda1:


Thank you for your comment, but subsidy is unsutainable and has to go.
you lied openly, now you can't defend your lie.

2 Likes

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:28am On Sep 07
DeepsightX:


Why do you ignore the biggest problem in this matter in all your analysis - official corruption?
Do you not know that even if not a penny of subsidy is paid for 100 years so long as that factor remains, we will end up in the same situiation or worse?

Are you that stupid or just dishonest?

The fact that you are a jobless and hungry crossdressing homosexual who is also a serial killer should not render you so stupid.
It will, however, ensure that you die starving.

And so will the accursed moderator.


The black dress does suit you, Miss Esme.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:29am On Sep 07
Mandate1:
you lied openly, now you can't defend your lie.

Well, it is true that when petrol is sold for a profit, nothing like scarcity and subsidy scams and smuggling exists.

Such things exist in countries that do subsidy.

1 Like

Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:34am On Sep 07
DeepsightX:


Why do you ignore the biggest problem in this matter in all your analysis - official corruption?
Do you not know that even if not a penny of subsidy is paid for 100 years so long as that factor remains, we will end up in the same situiation or worse?

Are you that stupid or just dishonest?

The fact that you are a jobless and hungry crossdressing homosexual who is also a serial killer should not render you so stupid.
It will, however, ensure that you die starving.

And so will the accursed moderator.


You need to smile more, Miss Amelia Clarissa. It would make you look more beautiful for your beloved Roy Des Jardin.
Re: Petrol Price Hike Will Worsen Inflation - Punch Editorial by nairalanda1(m): 8:35am On Sep 07
DeepsightX:


Why do you ignore the biggest problem in this matter in all your analysis - official corruption?
Do you not know that even if not a penny of subsidy is paid for 100 years so long as that factor remains, we will end up in the same situiation or worse?

Are you that stupid or just dishonest?

The fact that you are a jobless and hungry crossdressing homosexual who is also a serial killer should not render you so stupid.
It will, however, ensure that you die starving.

And so will the accursed moderator.

It is very easy to smile more and laugh, my dear. Happiness makes the world go round.

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