VeeVeeMyLuv:
See ya mouth like:

"I won't mind purchasing at 1m while I buy fuel at N300/litre which would curb smuggling alongside and dollar racketeering."

Yen yen yen

What is wrong with u?

If they remove subsidy and the petrol price will becomed N300, there will be much more inflation, bread of N500 will become N1000.

Now u answer this question! When has prices of anything ever gone down in this country?

Had it been that the wages and salaries was increasing concurrently with the rate at which prices of goods and services have been doubling, trippling, and even quadrupling, the situation would not have been this terrible.

Devaluation of local currency has brought nothing but disaster, more inflation, poverty, unemployment, tears, sorrow....

Whoever or whatever is responsible for this devaluation and economic hardships has no soul, compassion and conscience.

hargbolahan01:
If they remove fuel subsidy that doesn't exchange will crach... it will not in sense that the money saved from fuel subsidy will either be shared through allocation or for project why dollar will keep rising as we keep importing

Even if oil price goes up as it has done the govt many not fund exchange market cause they would rather put the money in foreign account than to fund exchange rate...and it's what they believe it's right which I don't blame them

SarkinYarki:
Surprisingly it won't free up the dollar crunch ...the govt should concentrate instead on refining fuel at home instead of exporting

NwaNimo1:
As oil output continues to dwindle the dollar will become scarcer and the naira continue to plummet........demand for Nigerian crude is also falling

Esseite:


But if we are still subsidising with the indices you portrayed, am afraid we are heading to doom.. because then we would still be subsidising with scarce dollars while the inflation is still on due to scarcity.

Blue3k:
Lol what you're seeing is the naira getting closer to its true value. Why don't yall just accept the currency float and save time and money on not defending it. This proposal simply amounts to laundering money from one wasteful area to another. Let the naira float and be done with this issue.

Esseite:
Nigeria is in between a double edged sword and with the way the exchange rate is spiraling out of control, it calls for immediate action to curb it.

It has gotten to a stage that we are already suffering inflation much more than one should suffer with the removal of fuel subsidy.

Yes the exchange rate might only affect foreign and imported goods, but the domino effect cuts across the local sales whom inflate prices because they would want to stay afloat on purchase of imported goods aswell..

I think it's time to remove subsidy to free up the US dollar being pumped to subsidize that while pushing it into the market to stop the cartels and cabals championing the BDC whom inflate rates as they wish.

E.G - if a toyota truck used to cost 1million, but now cost 3m due to exchange rate, with fuel at N165/litre, I won't mind purchasing at 1m while I buy fuel at N300/litre which would curb smuggling alongside and dollar racketeering.

For the low income earners whom may feel they dont need the car but need the fuel at low price, the low rate of truck would bring in more competition, the availability of the dollar would crash the cost of repair parts which in turn reduces cost of pricing on other expenses that can be substituted for fuel purchase.

Esseite:
Nigeria is in between a double edged sword and with the way the exchange rate is spiraling out of control, it calls for immediate action to curb it.

It has gotten to a stage that we are already suffering inflation much more than one should suffer with the removal of fuel subsidy.

Yes the exchange rate might only affect foreign and imported goods, but the domino effect cuts across the local sales whom inflate prices because they would want to stay afloat on purchase of imported goods aswell..

I think it's time to remove subsidy to free up the US dollar being pumped to subsidize that while pushing it into the market to stop the cartels and cabals championing the BDC whom inflate rates as they wish.

E.G - if a toyota truck used to cost 1million, but now cost 3m due to exchange rate, with fuel at N165/litre, I won't mind purchasing at 1m while I buy fuel at N300/litre which would curb smuggling alongside and dollar racketeering.

For the low income earners whom may feel they dont need the car but need the fuel at low price, the low rate of truck would bring in more competition, the availability of the dollar would crash the cost of repair parts which in turn reduces cost of pricing on other expenses that can be substituted for fuel purchase.

seborrhic:

Sometimes I just feel ashamed reading some posts on this site.
The level of poor reasoning exhibited by some people will make you wonder if they actually passed through a proper school.
How on earth will removal of fuel subsidy bring down the dollar rate?
So if it's removed will those importing fuel now pay in Naira?
The same pathetic dullards & reasoning was what made people with acclaimed multiple certificates believe & assert that when Dangote refinery comes on stream,the dollar would come down and fuel price will also come down.
I can bet anyone that when that fraudulent refinery comes on stream it would be found that's it's even cheaper buying imported fuel than @ d price Dangote would sell.

seborrhic:

Sometimes I just feel ashamed reading some posts on this site.
The level of poor reasoning exhibited by some people will make you wonder if they actually passed through a proper school.
How on earth will removal of fuel subsidy bring down the dollar rate?
So if it's removed will those importing fuel now pay in Naira?
The same pathetic dullards & reasoning was what made people acclaimed multiple certificates believe & assert that when Dangote refinery comes on stream,the dollar would come down and fuel price will also come down.
I can bet anyone that when that fraudulent refinery comes on stream it would be found that's it's even cheaper buying imported fuel than @ d price Dangote would sell.

Esseite:


I understand you perfectly.. but the influx of dollars would definitely meet demand in excess which results in over saturation and a crash in price, with the abysmal low of FDI, it seems like the only option left.

Esseite:


The subsidy on fueling is paid in dollars, freeing that affords us more FX for the CBN and the banks to give to the needed populace which in turn reduces demand with excess supply that results in crash of FX rates... I might be wrong on the process, please enlighten.

Newboss:


Oga, everybody depends on fuel. It's not hard to see that the effect of your talk will be landmark/groundbreaking inflation. Don't create a monster to kill a lion.

Newboss:


Oga, everybody depends on fuel. It's not hard to see that the effect of your talk will be landmark/groundbreaking inflation. Don't create a monster to kill a lion.

StaffofOrayan:
Suffer head no go kill una!
You don't enjoy steady electricity, u have to deal with terrible roads and now, insecurity! Still the suffer heads are pretending to have small sense, asking for subsidies that have been removed twice to be removed again!

Esseite:
Nigeria is in between a double edged sword and with the way the exchange rate is spiraling out of control, it calls for immediate action to curb it.

It has gotten to a stage that we are already suffering inflation much more than one should suffer with the removal of fuel subsidy.

Yes the exchange rate might only affect foreign and imported goods, but the domino effect cuts across the local sales whom inflate prices because they would want to stay afloat on purchase of imported goods aswell..

I think it's time to remove subsidy to free up the US dollar being pumped to subsidize that while pushing it into the market to stop the cartels and cabals championing the BDC whom inflate rates as they wish.

E.G - if a toyota truck used to cost 1million, but now cost 3m due to exchange rate, with fuel at N165/litre, I won't mind purchasing at 1m while I buy fuel at N300/litre which would curb smuggling alongside and dollar racketeering.

For the low income earners whom may feel they dont need the car but need the fuel at low price, the low rate of truck would bring in more competition, the availability of the dollar would crash the cost of repair parts which in turn reduces cost of pricing on other expenses that can be substituted for fuel purchase.

Esseite:
Nigeria is in between a double edged sword and with the way the exchange rate is spiraling out of control, it calls for immediate action to curb it.

It has gotten to a stage that we are already suffering inflation much more than one should suffer with the removal of fuel subsidy.

Yes the exchange rate might only affect foreign and imported goods, but the domino effect cuts across the local sales whom inflate prices because they would want to stay afloat on purchase of imported goods aswell..

I think it's time to remove subsidy to free up the US dollar being pumped to subsidize that while pushing it into the market to stop the cartels and cabals championing the BDC whom inflate rates as they wish.

E.G - if a toyota truck used to cost 1million, but now cost 3m due to exchange rate, with fuel at N165/litre, I won't mind purchasing at 1m while I buy fuel at N300/litre which would curb smuggling alongside and dollar racketeering.

For the low income earners whom may feel they dont need the car but need the fuel at low price, the low rate of truck would bring in more competition, the availability of the dollar would crash the cost of repair parts which in turn reduces cost of pricing on other expenses that can be substituted for fuel purchase.

Modrovdeux:


1.Welcome to the club of subsidy haters

2.This argument of yours makes a lot of sense

3.The problem is, Nigerians love everything cheap. Most of the people abusing you here, if Buhari tomorrow announced fuel was N40 per liter, and paid the subsidy, they will call him a good leader irrespective of the amount of economic hurt such a decision would cause for us.

4.Subsidy has to go. Maybe government can pay a palliative of N20000 per car owner...till the economic hardship ends. But that's just me thinking out loud.