Nigeria subsidized fuel with 150 to 200 billion naira monthly.

The monthly federal allocation is usually between 600 to 700 billion naira.

If fuel subsidy is removed, the monthly allocation shared by states and federal government may increase to 1 trillion naira every month.

I think what labour congress and other interest groups should do is to demand for increase in salaries and benefits for their members to have a share in the increase revenue rather than going on strike.

The fuel subsidy removal is the decision of both states and federal government with World bank even supporting it. So labour strike may not have impact

However what baffles me is most local refineries will kick off next year

why can't government sell crude oil to local refineries at cheap price, would that amount to fuel subsidy again?

Yeah..

I can see all the Polithifians salivating already..

Bunch of Crooks..

Biodun556:
However what baffles me is most local refineries will kick off next year

why can't government sell crude oil to local refinery at cheap price, would that amount to fuel subsidy again?

Good suggestions

Biodun556:
However what baffles me is most local refineries will kick off next year

why can't government sell crude oil to local refinery at cheap price, would that amount to fuel subsidy again?

Because doing that means that the workers who extract the crude would earn lower in salaries, and the extractive arm of the industry won't make a profit to stay operative.

backbencher:


Because doing that means that the workers who extract the crude would earn lower in salaries, and the extractive arm of the industry won't make a profit to stay operative.

Ok

Biodun556:
However what baffles me is most local refineries will kick off next year

why can't government sell crude oil to local refinery at cheap price, would that amount to fuel subsidy again?

That cheap crude price will lead to another round of racketeering, some refinery not getting crude oil allocation till palms are rubbed, and some will not refine crude but just be buying cheap from govt and exporting illegally at market price.

Let everyone buy their crude at market price if we want to eliminate subsidy once and for all

Ovamboland:


That cheap crude price will lead to another round of racketeering, some refinery not getting crude oil allocation till palms are rubbed, and some will not refine crude but just be buying cheap from govt and exporting illegally at market price.

Let everyone buy their crude at market price if we want to eliminate subsidy once and for all

May God remove poverty in Nigeria, I wonder how people will cope

Nigeria will get better when the treasures of state not control by state governor. Many thought Buhari is only problem of Nigeria they deliberately ignored their state governor.

Just like one governor that control the destiny of a whole state for 8 years and still talking of relocating to a better society.


Our problem is oil you keep waiting for national cake from niger delta without consider where you can generate income besides oil.this useless governor's some of them have company they know where to generate money to their company.

Nigeria were blessed with different natural resources. Let start from land the worst part of it is land some useless people will say niger state landmass will swallow both east and west or OYO state landmass is more than the whole east. What is useful of this landmass to economic of their state and region.

Niger state with her landmass the state government not have one tuber of yam or cassava what a waste.

Bros, convert the trillion naira to dollar equiv and tell us. One bag of rice is 7500 ten years ago. How much can you buy today with the trillion. Poor purchasing power will not allow us to witness any significant growth unless we apply Joseph wisdom.

When the hell has cutting funding for revenue producing assets ever led to any form of societal development, don’t fucking cut that unless those same dipshits expect to fund industry that can cover the costs of whatever the bleeps about to happen

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Biodun556:
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Biodun556:
Nigeria subsidized fuel with 150 to 200 billion naira monthly.

The monthly federal allocation is usually between 600 to 700 billion naira.

If fuel subsidy is removed, the monthly allocation shared by states and federal government may increase to 1 trillion naira every month.

I think what labour congress and other interest groups should do is to demand for increase in salaries and benefits for their members to have a share in the increase revenue rather than going on strike.

The fuel subsidy removal is the decision of both states and federal government with World bank even supporting it. So labour strike may not have impact

If fg and state government increases salaries what of private companies?

Biodun556:
Nigeria subsidized fuel with 150 to 200 billion naira monthly.

The monthly federal allocation is usually between 600 to 700 billion naira.

If fuel subsidy is removed, the monthly allocation shared by states and federal government may increase to 1 trillion naira every month.

I think what labour congress and other interest groups should do is to demand for increase in salaries and benefits for their members to have a share in the increase revenue rather than going on strike.

The fuel subsidy removal is the decision of both states and federal government with World bank even supporting it. So labour strike may not have impact

The fg said it will spend #250 billion a month on transport palliative to cater for 40 million poorest people .
So it won't get to that amount

And there is inflation and devaluation of the naira to contend with plus other things like wage increase

gozmok1:



Good suggestions

It will be good suggestion, until u see many refineries coming onboard without any structure on ground so they can get cheap crude oil and export it to other countries to sell at foreign price.

johnmartus:
Nigeria will get better when the treasures of state not control by state governor. Many thought Buhari is only problem of Nigeria they deliberately ignored their state governor.

Just like one governor that control the destiny of a whole state for 8 years and still talking of relocating to a better society.


Our problem is oil you keep waiting for national cake from niger delta without consider where you can generate income besides oil.this useless governor's some of them have company they know where to generate money to their company.

Nigeria were blessed with different natural resources. Let start from land the worst part of it is land some useless people will say niger state landmass will swallow both east and west or OYO state landmass is more than the whole east. What is useful of this landmass to economic of their state and region.

Niger state with her landmass the state government not have one tuber of yam or cassava what a waste.

Bros buhari is also the problem of Nigeria not only governors.
When Gej was in power, it was only him that was the problem.
Governors were all docile and dormant and nobody knew they existed.

Stop absolving buhari of the hardship he brought upon this land.

I can't imagine running for a post for 3 good times, but at the fourth time i eventually won but knew nothing about how to handle that position.

Everything that has happened in Nigeria is as a result of buhari's ineptitude and incompetence in handling the economy.

Buhari has failed in all indices...
FG controls all security formations, they control cbn which gives guidance on fiscal and monetary policy.

Our problems is from these sector, security n economy.

The governors take lead from gederal govt, there is little or nothing they can do.
Governors can't import arms or security equipments to battle any insurgents in their states.

baralatie:

The fg said it will spend #250 billion a month on transport palliative to cater for 40 million poorest people .
So it won't get to that amount

It will not be productive. I believe it is a fake promise to pacify people and it's not even in 2022 budget.


Why not continue the fuel subsidy instead of wasting 250 b



https://www.youtube.com/watch?v=8J7XJ26daqk