subsidywise18:
]


At the end, they don't see that much of the money

UK : 959 naira for a liter
USA : 575 naira per liter.

Meanwhile...Sierra Leone 573 naira
Guinea: 578 naira......

Are the Sierra Leoneans and Guineans earning as much as an average USA, or EU citizen?

Also note this. The minimum wage in Nigeria is 30,000 while the minimum wage in US is $7.25 per hour which translates to $1740 a month or N1,044,000.
If you divide minimum wage by price per litre, you see the Nigerian can only afford 181L while the US citizen can get 1754L. Obviously, it's easy to see who can afford more and the Nigerian actually requires more fuel than his US counterpart.

And that is besides the fact that the average living cost in Nigeria according to NBS is 40,980 which is higher than the minimum wage. Just imagine!!

Ojuntana:


Also note this. The minimum wage in Nigeria is 30,000 while the minimum wage in US is $7.25 per hour which translates to $1740 a month or N1,044,000.
If you divide minimum wage by price per litre, you see the Nigerian can only afford 181L while the US citizen can get 1754L. Obviously, it's easy to see who can afford more and the Nigerian actually requires more fuel than his US counterpart.

And that is besides the fact that the average living cost in Nigeria according to NBS is 40,980 which is higher than the minimum wage. Just imagine!!

Are Sierra Leone and Guinea earning the same minninum wage as the USA?

subsidywise18:


Are Sierra Leone and Guinea earning the same minninum wage as the USA?

Are you praying for Nigeria to be like Sierra Leone and Guinea?
Are Nigerians looking to migrate en mass to Sierra Leone and Guinea?

Ojuntana:

Are you praying for Nigeria to be like Sierra Leone and Guinea?
Are Nigerians looking to migrate en mass to Sierra Leone and Guinea?

Are Sierra Leone and Guinea earning the same as the USA? If no, then why does fuel cost the same as the USA?

subsidywise18:


Are Sierra Leone and Guinea earning the same as the USA? If no, then why does fuel cost the same as the USA?

Because their economy is wrecked. If you want Nigeria to be in that shoe, that's your business.

Kwara1stson:
mumu. Na only cars dey use petrol?

You nor fit comment without abusing. You cow

Ojuntana:

Because their economy is wrecked. If you want Nigeria to be in that shoe, that's your business.

Still does not answer my question.......

If we take your analogy...US economy is wrecked as Sierra leone and company..since they pay the same in fuel prices.

Obviously that is not true.

Onyi22:

What is this one saying
Must u comment

I am not the one that put you in the predicament you are in right now if you have a problem with simple comprehension.

Did u force ur fingers to quote my comment

jojothaiv:

Well, according to a recent report from Germany, the number of generators in Nigeria can power the national grid or simply put, the generators in this country is more than enough to generate electricity.

This is why people who import generators would never allow the power sector to be functional

babaolofin:


My brother, subsidy is a scam. Subsidy is a fraud. The oil sector is a sector I know much about.

That 2 billion reported will be actually 500 million or at most 900 million litres. The implications of subsidy is that it gives room for other subsidies within the oil supply chain management.

Nigeria is dying gradually but people don't know. The poor are ignorantly complaining of high fuel price and they don't want further hike not knowing they are enriching few people.

I agree with you baba. Truth is that Nigerians are not afraid to fuel hike because many people are already buying fuel above the 165 per litre bench mark but our fear is would the money saved from removing subsidy be utilised for the good of the common man or it would be looted.

Teenaira:


I hate it when people say Nigerians are corrupt. Their is no corruption in Nigeria and if there is, it is very limited. What we have is pure NEPOTISM. Right now, we know the people that are sleezing us but we refused to stop them because they are untorchable. They are representing the powers that be. Infact, they can be said to be fronts to these power. So I don't see this as corruption. In corruption cases, it is either it is tough to find out how the frauds are perpetrated or those involved. In our own case, we know the issues and we also know those involved but we just refused to act. That can not be corruption. This is my submission.

You see my brother, I have come to find out that Nigerians are very law abiding. What any leader needs to do is to make an example of 3 or 4 of these so called "untouchable " and broadcast it...sit and watch as everyone would fall in line

For example, a minster or house or rep member disobey a traffic light or drives against traffic. Make an open show of him, dismiss him or do something drastic and see how all Nigerians would fall in line

babaolofin:


My brother, subsidy is a scam. Subsidy is a fraud. The oil sector is a sector I know much about.

That 2 billion reported will be actually 500 million or at most 900 million litres. The implications of subsidy is that it gives room for other subsidies within the oil supply chain management.

Nigeria is dying gradually but people don't know. The poor are ignorantly complaining of high fuel price and they don't want further hike not knowing they are enriching few people.

See someone telling it as it is.

But everytime you talk about removing subsidy...and I am old enough to recall the fights over the last 3-4 decades....Nigerians have always said no. The same arguments used against subsidy were used ten, twenty, even thirty years ago.

henrimoto:
dont doubt the figures. As for the numbers of cars and power generators in nigeria...hmnn.. My brother, leave your current location, waka round small, you go know whats up.

Baba this thing wen u talk to make me dey reason the number of generators when different house hold get for this my area. Oh men! U get point o

subsidywise18:


Still does not answer my question.......

If we take your analogy...US economy is wrecked as Sierra leone and company..since they pay the same in fuel prices.

Obviously that is not true.

Is everything about an economy only about fuel price? You're beginning to sound like an economic illiterate.
So because Sierra Leone and Guinea pay the same fuel price means they are in same economic grp?
I didn't know Sierra Leone is a member of G7.
I didn't know trade in Sierra Leone and CPI are comparable with US.

subsidywise18:


See someone telling it as it is.

But everytime you talk about removing subsidy...and I am old enough to recall the fights over the last 3-4 decades....Nigerians have always said no. The same arguments used against subsidy were used ten, twenty, even thirty years ago.

Baba, Nigerian are ready for subsidy removal but they want assurance that the money would be utilised.

They said they shared abacha loot to 1.9 million Nigerians....what do you think. Do you know anyone who has received that money....what would you deduce....they have relooted the money.

Govt must be seen to be make effort to be transparent

Our people have it " when you are roasting yam for a blind man, you must keep on talking so that the blind man would not think you are eating his yam"

Ojuntana:

Is everything about an economy only about fuel price? You're beginning to sound like an economic illiterate.
So because Sierra Leone and Guinea pay the same fuel price means they are in same economic grp?
I didn't know Sierra Leone is a member of G7.
I didn't know trade in Sierra Leone and CPI are comparable with US.

But you made the argument that the USA pays higher in fuel because their minnum wage is high enough.

So, I brought two countries where they pay as high for fuel as the USA....without the same minnimum wage, and you are suddenly accusing me of wishing wreckage on Nigerian economy?

Lol.

Have a good day. I have tried. Go and read about subsidies. I won't trobule you again.

And yes, I know that subsidy removal would make things harder for Nigerians. I also knows it is short term.


You cannot bring in something at N350 , and sellit at N165, while all your neighbours are selling it above N400, and while Niger that refines at home is selling it at N350...and they are poorer than us, yet they make enough profit to keep their refining strong....and export the excess....

If you don;t get it...it is not your fault. Ultimately, Nigerian governments don't know how to run an economy free of import and resource dependency. Past to present, and especially this APC government.

Yes, you can disagree with me, and yes, it annoys me you miss my message, but eventually for me, in the words of the immortal DeGaulle....je vous ai compris.

tuoyoojo:


Baba, Nigerian are ready for subsidy removal but they want assurance that the money would be utilised.

They said they shared abacha loot to 1.9 million Nigerians....what do you think. Do you know anyone who has received that money....what would you deduce....they have relooted the money.

Govt must be seen to be make effort to be transparent

Our people have it " when you are roasting yam for a blind man, you must keep on talking so that the blind man would not think you are eating his yam"

I get you, which is why we have to work hard to hold people to accountability.

At the end, we complain about government looting the money from subsidy removal, but when they keep the subsidy we magically trust them to be able to administer it.

Anyway, Nigeria's problem ultimately is we are not making enough money.....because we are resource dependent.

subsidywise18:


I get you, which is why we have to work hard to hold people to accountability.

At the end, we complain about government looting the money from subsidy removal, but when they keep the subsidy we magically trust them to be able to administer it.

Anyway, Nigeria's problem ultimately is we are not making enough money.....because we are resource dependent.

I agree with you and this is one of the many reasons why Peter obi's candidacy is Ray of hope for us

If government can be accountable and excesses can be plugged....it would be a step in the right direction....

By the sir, I hope you are obidient....

Your moniker though....just apt for this thread

subsidywise18:


But you made the argument that the USA pays higher in fuel because their minnum wage is high enough.

So, I brought two countries where they pay as high for fuel as the USA....without the same minnimum wage, and you are suddenly accusing me of wishing wreckage on Nigerian economy?

Lol.

Have a good day. I have tried. Go and read about subsidies. I won't trobule you again.

And yes, I know that subsidy removal would make things harder for Nigerians. I also knows it is short term.


You cannot bring in something at N350 , and sellit at N165, while all your neighbours are selling it above N400, and while Niger that refines at home is selling it at N350...and they are poorer than us, yet they make enough profit to keep their refining strong....and export the excess....

If you don;t get it...it is not your fault. Ultimately, Nigerian governments don't know how to run an economy free of import and resource dependency. Past to present, and especially this APC government.

Yes, you can disagree with me, and yes, it annoys me you miss my message, but eventually for me, in the words of the immortal DeGaulle....je vous ai compris.

That is your own interpretation. What I'm telling you is they can pay that amount without stress. Did you see me carry out same analysis for Sierra Leone and Guinea?
The purpose of a national economy is to allocate resources to pull people out of poverty and give as many citizens as possible a good living.
It is failure of that which led to the French Revolution, Arab Spring and other such revolutions throughout humanity.
So, if you think further impoverishing citizens is a good economic policy, that's left for you to carry out whenever you get the opportunity to be at the helm.
But know this. If a stubborn man like Buhari can know the effect of subsidy removal without any alternative, then I think you should be thoughtful as to why Jonathan failed in that regard.
What I'm sharing with you is reality not economic textbooks or brighter grammar

tuoyoojo:


I agree with you and this is one of the many reasons why Peter obi's candidacy is Ray of hope for us

If government can be accountable and excesses can be plugged....it would be a step in the right direction....

By the sir, I hope you are obidient....

Your moniker though....just apt for this thread

Sorry, but I regard Obi as the same as Atiku and Tinubu...the same old PDP/APC collective that have wrecked this country. (Same feelings towards NNPP and Kwankwaso, and the SDP too..once I heard it was going to be a home for Tinubu if APC failed.).

For now, I am looking at the other parties. Then again, I have never voted or supported PDP or APC or their precusors since I first voted....

subsidywise18:


Sorry, but I regard Obi as the same as Atiku and Tinubu...the same old PDP/APC collective that have wrecked this country. (Same feelings towards NNPP and Kwankwaso, and the SDP too..once I heard it was going to be a home for Tinubu if APC failed.).

For now, I am looking at the other parties. Then again, I have never voted or supported PDP or APC or their precusors since I first voted....

That's a tough sell.....you are among the outliers as my teacher is fond of saying

I understand sir, that's the beauty of diversity

I respect your stand

Subsidy causes disparities in pricing across the borders, which is being taken advantage of by anyone with the means of doing so. The evidence is overwhelming. It's been going on for decades.

https://www.equaltimes.org/the-illegal-trade-supplying-benin?lang=en#.YrcUznbMKUk

https://issafrica.org/iss-today/benins-booming-illicit-fuel-trade-calls-for-new-responses#:~:text=Smugglers%20buy%20fuel%20in%20Nigeria,and%20accessible%20to%20illegal%20traders.

https://www.thecable.ng/undercover-bribes-cartel-and-conspiracy-inside-nigerias-booming-petrol-smuggling-trade

https://time.com/4314539/benin-gasoline-smugglers/

This is a simple matter. Abolish the subsidy.

subsidywise18:


But you made the argument that the USA pays higher in fuel because their minnum wage is high enough.

So, I brought two countries where they pay as high for fuel as the USA....without the same minnimum wage, and you are suddenly accusing me of wishing wreckage on Nigerian economy?

Lol.

Have a good day. I have tried. Go and read about subsidies. I won't trobule you again.

And yes, I know that subsidy removal would make things harder for Nigerians. I also knows it is short term.


You cannot bring in something at N350 , and sellit at N165, while all your neighbours are selling it above N400, and while Niger that refines at home is selling it at N350...and they are poorer than us, yet they make enough profit to keep their refining strong....and export the excess....

If you don;t get it...it is not your fault. Ultimately, Nigerian governments don't know how to run an economy free of import and resource dependency. Past to present, and especially this APC government.

Yes, you can disagree with me, and yes, it annoys me you miss my message, but eventually for me, in the words of the immortal DeGaulle....je vous ai compris.

Short term ko
Well, diesel and kerosene have had subsidy removed for eleven years now and their prices still remain higher than petrol while the two products have seen less investments than petrol.
How do you explain that?
Your theory is not working

Same diesel and kerosene is cheaper in Niger than Nigeria yet I've not seen Niger complaining of smuggling and asking to increase the prices to match that of Nigeria.

Oh

treatise:

Did they take into account those taken to Chad and Niger?

Is it that you people don’t read or what

Insider gist: Fat lies, large percentage of the subsidized gas get smuggled into neighboring countries for profit. This is where a very large % of the subsidized gas is going to. These neighboring countries don’t get the gas scarcity, they just pay premium price for it.

Root cause:
1. Corrupt Oil and Gas regulatory agencies who know about this practice and choose to look away after they get their cut.

2. The corrupt and unpatriotic security agency’s members in the police, army, customs that mount road blocks along the borders in disguise for security but only out there to extort, collect from this oil smugglers and also look away.

3. The unpatriotic tank drivers; yes they are just doing their job but also YES they do have a union, they could put an end to this mess by standing in the way of not making this deliveries.

Ojuntana:

Nobody is saying there's no smuggling. The question is the scale. Your links shows most of the smuggling is done with 25litre jerrycans which will be less than 50,000 litres per day overall.
That's an infintesimal sum if you consider the amount of fuel we're looking for is over 30million litres.
There are no big bosses involved in smuggling. It's a retail thing. The oil hawks are just using that to peddle false figures to loot our commonwealth. That's what the article just proved with verifiable facts and figures.

Bro God will bless you tenfold. I’m appalled that with all that was written in the article people are still asking about smuggling to Niger, Chad and their counterparts. It’s so sad that people can’t even see things blatantly in front of them and keep asking irrelevant questions. The figures quoted were suspicious to say the least and the article makes a lot of sense seeing as if the purported amount were actually being smuggled daily then there would be nonstop traffic and gridlocked roads around the country.

Half of it goes to Niger republic the ancestral home of tuf to botum

subsidywise18:
]

And they have a better standard of living because they don't bring in price controls on any sector of their economy.....meaning that all their industries run at a profit, which is invested in jobs and government charges taxes.

We did the same in Nigeria...with GSM. Allowed them to set their price, everyone complained they were ripping us off....and at the end of the day, they made lots of money, which was reinvested in growing the sector...and eventually competition brought down prices.

If you love subsidy, then allow government to set your price, and keep it below what you bought or made your goods for, and keep the price even when cost of producing those goods goes up...and pay you a subsidy that does not cover the resulting loss. You would love it because...




Fuel vouchers...plus....prices of fuel have shot up with the rising cost of crude oil.




LOL....they do. THAT is why they can afford to refine fuel at home. The fact they earn more does not mean that they are NOT feeling the high cost of fuel...they are and they are feeling it well...with inflation

Then they pay more taxes than we do. Cost of living is higher.

At the end, they don't see that much of the money

UK : 959 naira for a liter
USA : 575 naira per liter.

Meanwhile...Sierra Leone 573 naira
Guinea: 578 naira......

Are the Sierra Leoneans and Guineans earning as much as an average USA, or EU citizen?

Why are you supporting price controls...something you won't like if you were in private business. Price controls are a big reason why we don't have refineries, even power.

If you want price controls in the petrol and power sector...then you should support price controls for everyone, including the traders, barbers, even farmers. Let farmers sell their yams at N100 a piece...to help the poor.




Actually less than 30% of economically active Nigerians pay taxes to state and federal governments.

70& don't because...they are in the informal sector...ie poor.

Dumbest post I’ve seen today.
How did you come up with the idea to compare US to Nigeria?
Where did you get your 575/liter from? Show me your maths ?

I no get energy today abeg

sunboy:


Dumbest post I’ve seen today.
How did you come up with the idea to compare US to Nigeria?
Where did you get your 575/liter from? Show me your maths ?

I no get energy today abeg

You had enough energy to call me dumb tho.

Anyway, you can enjoy.your subsidy man. For me, it's the reason why we can't have some good things.

Islie:
* Product volume worth N333bn

* Lagos, Kano, Niger top consumption

* Doubts trail figures




https://dailytrust.com/exclusive-nigerians-consume-2bn-litres-of-petrol-in-28-days

lalasticlala

More cars on the road more gas consumption more generators running each day no power ..
So what are you saying?

subsidywise18:


You had enough energy to call me dumb tho.

Anyway, you can enjoy.your subsidy man. For me, it's the reason why we can't have some good things.

I did not call you dumb… read my message again. I have no reason to disrespect you like that sir.

I have nothing for or against subsidies… I’m just saying your comparison makes no sense.