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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Ghana Protests Over Inflation (40449 Views)
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Re: Ghana Protests Over Inflation by Simeonjoe1: 11:59am On Jul 02, 2022 |
SmartPolician:Baba he's saying the truth this have nothing to do with candidate. Unless the status quo is changed irrespective of who enters next year Nigeria major problems will still persist. If Peter Obi enter he will still borrow to build infrastructure unless he no won construct road. Epileptic power supply will still be there except government, insecurities will still persist. If Peter Obi decides to remove subsidy and allow fuel sell for 300 per liter will you still be hyping him like this despite the economic positivity it will bring? Better stop expecting magic wand from any politician. All these things should have been done decades ago by now our scars would have healed and we'll not even bother. 4 Likes |
Re: Ghana Protests Over Inflation by Nobody: 12:02pm On Jul 02, 2022 |
Simeonjoe1: The problem with subsidy is the nature of the beast. Here is how subsidy works. Because of changes in the price of crude oil, the price of petrol , normally, changes as a result. If crude oil prices are high, petrol prices rise, and if they are low, petrol prices fall as well. Subsidy means that the government sets the price of petrol...and pays money to the petroleum sector called a subsidy. This subsidy roughly speaking covers the resulting loss made in keeping prices low. Problem is, as the price of crude rises, so does the cost of the subsidy. Last year, landing cost of crude was N231, oil was at 80 dollars a barrel. Now it is over N700, oil is at 120 dollars a barrel. Meanwhile price of petrol at the pump is at N165 since 2020. As you can see, we have gone from paying less than N200 per liter as subsidy to N600 per liter as subsidy in one year. (Thanks to Russia and Nato). And over the last seven years, we had to take loans galore because oil revenues were too low for our population. So, we have a heavy debt service burden ..ie paying off the loans. Meanwhile any extra money is going into the subsidy...and it is going in at a very high rate...to the point that NNPC can no longer remit funds to the government, after debts and subsidy costs have been paid. Guess where they would turn to get the money for subsidy? Other sectors of the budget...and when they run out...another round of loans. That's why subsidy has to go. It costs too much to feed it. GEJ did not save enough because he was feeding the subsidy monster. At worst there would be a period of high prices...but the value of the naira would improve somewhat, and when domestic refining gets better as a result....we may earn more income. It does not mean we would achieve economic prosperity, but we would be better off than we are now eventually. 3 Likes |
Re: Ghana Protests Over Inflation by Simeonjoe1: 12:09pm On Jul 02, 2022 |
kingthreat: Those in government knows this but they are trying to be politically careful! When Jonathan won try am see as APC use am against him. When buhari won try am see the backlash. It will take a president with strong will we probably don't care about his Party or next election to remove subsidy. It's like a surgery the pain and numbness it'll bring now but will have prospects for the future. I think the wise thing the government should do is to try increasing the power generation and distribution nationwide also increase the use prepaid meters in homes and industries where you pay as you use. Then remove the subsidy on power. With increase in power supply (least 20hrs daily) you can confidently remove petrol subsidy because we go only dey buy fuels for locomotives and not to power our homes or business hence less strain on our income. 4 Likes |
Re: Ghana Protests Over Inflation by galantjoe(m): 1:11pm On Jul 02, 2022 |
franchasofficia: I wish many Nigeria leaders should follow the technocracy adopted by Obj, Yaradua and GEJ where professionals occupied key ministries, departments and agencies (MDA) However, in current govt, politicians occupied those key MDAs. That is bane of our problems Thank you 1 Like 1 Share |
Re: Ghana Protests Over Inflation by kmaster007: 1:34pm On Jul 02, 2022 |
Dey should just close all borders.... Make dem no con add to Wetin dey do us here |
Re: Ghana Protests Over Inflation by OluwaChase(m): 2:15pm On Jul 02, 2022 |
Quintopia: [b][/b] You’re Damn correct. I want to buy ordinary indomie them say na 1k Omo e shock me o…!! I go collect change from my Aboki for My Arena if na Nigeria �� ..! Things are cost over there Fr 1 Like |
Re: Ghana Protests Over Inflation by Prosper123: 2:30pm On Jul 02, 2022 |
kingthreat:Please stop disgracing yourself and visit Anambra one of these days and see indigenous development. Travel more |
Re: Ghana Protests Over Inflation by DrAkpamudehe: 2:40pm On Jul 02, 2022 |
SmartPolician: Pls shut up. I am from Anambra. Peter Obi is simply overrated. Obiano even performed better than him in transforming Anambra state 7 Likes |
Re: Ghana Protests Over Inflation by DrAkpamudehe: 2:44pm On Jul 02, 2022 |
kingthreat: Pls shut up. A lot of u kids on nairaland just open your mouth waaaaaah and talk rubbish So innoson and the industrial clusters in Nnewi are all there for decoration? Pls shut up once more |
Re: Ghana Protests Over Inflation by kingthreat(m): 3:05pm On Jul 02, 2022 |
DrAkpamudehe: Are they benefitting Nigeria or the south east. You yourself will rather use a tokunbo Toyota than drive an innoson |
Re: Ghana Protests Over Inflation by kingthreat(m): 3:06pm On Jul 02, 2022 |
Prosper123: Visit Anambra and be denied of my right to movement on Mondays? I rather visit Kabul. |
Re: Ghana Protests Over Inflation by DrAkpamudehe: 3:07pm On Jul 02, 2022 |
kingthreat: Abeg, no shut up again, just seal your mouth. |
Re: Ghana Protests Over Inflation by Prosper123: 3:08pm On Jul 02, 2022 |
kingthreat:What are you? 17? Sorry, can't indulge you |
Re: Ghana Protests Over Inflation by PARADIZEPRIEST: 4:13pm On Jul 02, 2022 |
SEBI UNA SEY NA ONLY NAIJA GET PROBLEM? ![]() ![]() 3 Likes 1 Share |
Re: Ghana Protests Over Inflation by Bridget95(f): 4:16pm On Jul 02, 2022 |
kingthreat:You are comfortable in hell because you have no choice and haven't tasted a better life |
Re: Ghana Protests Over Inflation by clericuzzio(m): 4:19pm On Jul 02, 2022 |
Quintopia: just return some weeks back. Ghana is very tough right now. imagine buying BEL-aqua for 2ghc. ordinary bottled water. Malta guiness is 6 ghc rush is 3ghc 5star is 3 ghc coca cola is 5ghc fuel my tank with 10.50 ghc/litre. this is terrible. cefa now stronger than the cedis. they massively voted Aku Fado just for him to chase away Nigerians, now karma is hunting them. 4 Likes 1 Share |
Re: Ghana Protests Over Inflation by kingthreat(m): 5:01pm On Jul 02, 2022 |
Bridget95: Nonentities think they are the only privileged ones that have flown on a plane before. |
Re: Ghana Protests Over Inflation by kingthreat(m): 5:01pm On Jul 02, 2022 |
DrAkpamudehe: Like the way Unknown gunmen dey seal una people mouth |
Re: Ghana Protests Over Inflation by kingthreat(m): 5:03pm On Jul 02, 2022 |
Prosper123: Wrong age guess sir. Make sure you sit at home next tomorrow. Don't want your angels to use you as a scapegoat for their secessionist agendas. |
Re: Ghana Protests Over Inflation by Prosper123: 6:31pm On Jul 02, 2022 |
kingthreat:That's why I asked you your age. |
Re: Ghana Protests Over Inflation by Quintopia: 9:38pm On Jul 02, 2022 |
Axis313: Exactly. The initial money they offer you is simply bait, like the one you set for fish. 2 Likes 1 Share |
Re: Ghana Protests Over Inflation by Quintopia: 9:43pm On Jul 02, 2022 |
Subsidywise20: A major problem is the western imposition of tariffs on value-added or processed raw materials from Africa, which can make manufacturing for export unprofitable. The solution is greater intra-African trade in manufactured goods, and this is on the rise, so the future is bright. |
Re: Ghana Protests Over Inflation by Nobody: 9:46pm On Jul 02, 2022 |
Quintopia: We don't have to export only to the West to make money. If we had made refining profitable in this country by removing subsidy.for example....by now we could be making lots of money exporting refined product to most West and Central African countries....(see Niger doing the same from one 20000 barrel per day refinery..exports to Mali, Burkina and nIgeria). All in all, we have to manufacture stuff from our raw materials. Not just selling raw materials, and posing with the cash. 1 Like |
Re: Ghana Protests Over Inflation by watersideboys: 2:19pm On Jul 05, 2022 |
I thought ghana was flexing |
Re: Ghana Protests Over Inflation by UrPapa: 2:19pm On Jul 05, 2022 |
tamdun:Shut up It’s only buhari Government |
Re: Ghana Protests Over Inflation by Nobody: 2:21pm On Jul 05, 2022 |
Quintopia: Was there a while back. 1000 GHC is like 20k naira So easy to burn |
Re: Ghana Protests Over Inflation by IgOga(m): 2:22pm On Jul 05, 2022 |
This what happens when many world leaders decide to follow a comedian in Ukraine and Biden in America. Let us sanction Russia and suffer for Ukraine. Meanwhile Luhansk region, Kherson Region, parts of Kharkov region, Most parts of Donestk region, parts of Zaporizhia are under full control of the Russians.....and the rest of the world are suffering for Ukraine that is loosing daily - land, personnel, materiel etc Many politicians will go. SriLanka already sacked their political elites |
Re: Ghana Protests Over Inflation by rajiedreez: 2:24pm On Jul 05, 2022 |
Shey u see that high inflation is everywhere |
Re: Ghana Protests Over Inflation by legionISproteus: 2:26pm On Jul 05, 2022 |
FreeStuffsNG: That redenomination policy is the reason I don't like Charles Soludo till today. I am grateful to all who made sure he did not achieve that dangerous experiment. 4 Likes 1 Share |
Re: Ghana Protests Over Inflation by adriano50: 2:27pm On Jul 05, 2022 |
Western sanction on Russia is the cause of everything life was hard before cus of the war in Ukraine life is now difficult |
Re: Ghana Protests Over Inflation by jrusky(m): 2:27pm On Jul 05, 2022 |
Inflation? Hhmmm....wetin we go come call Nigeria own? I said it then that any party that use the word "CHANGE" is from the pit of hell in Lucifer Kingdom. Nigeria apc used it see where we find ourselves, they ruling party in Ghana used it now see the result. Any country that use that word "CHANGE" must fail. 1 Like 1 Share |
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