izzou:


The Government is currently borrowing to pay Subsidy. It is very glaring that it cannot be sustained.

The problem is transparency. Nobody trusts the government anymore. Buhari would have been the best person to change the perception of the government, but sadly, we have seen domestic and wild animals steal money in his tenure.

That's also the reason i believe nothing win change in 2023 if anybody wins. No one is sincere enough to explain the deep rot of paying subsidy. Na so so story dem dey talk.

Egbon, e go happen. Na the time we never know yet

izzou:


The Government is currently borrowing to pay Subsidy. It is very glaring that it cannot be sustained.

The problem is transparency. Nobody trusts the government anymore. Buhari would have been the best person to change the perception of the government, but sadly, we have seen domestic and wild animals steal money in his tenure.

That's also the reason i believe nothing win change in 2023 if anybody wins. No one is sincere enough to explain the deep rot of paying subsidy. Na so so story dem dey talk.

Egbon, e go happen. Na the time we never know yet

raumdeuter:

I agree that its the right thing to do but are you sure we can handle the right thing? Buhari already put the date of subsidy removal at June 2023 immediately after he leaves office. Every govt will simply kick the can down the road

Its like you saw your uncle cheating on his wife, the right thing is to report to his wife, but you go think about the effect on his family and just keep quiet

Can we really expose Nigerians to international prices with our low purchasing power? Minimum wage in Nigeria is low compared to other countries. Minimum wage in Nigeria is it N30k per month that is about $40 or 10 liters of unsubsidized fuel

What percentage of an Americans income is the fuel price of $1 per liter and what percentage will it be of a Nigerian when the minimum wage is about how much in Naira converted to Dollars?

Its also a commodity that is essential, its not like a car or phone or luxury item. it affects everyone

In America with $5 per gallon people were already complaining with this Biden sticker all over pumps

izzou:


The point is that we can't afford it anymore. We are going into debt to pay subsidy.

We have three refineries in Nigeria. Any serious government should stop subsidy and revamp them in a year. I expected that from Buhari

Sadly, nobody trusts the government.

Subsidy will eventually go, irrespective of whatever reality it shows.

izzou:


The point is that we can't afford it anymore. We are going into debt to pay subsidy.

We have three refineries in Nigeria. Any serious government should stop subsidy and revamp them in a year. I expected that from Buhari

Sadly, nobody trusts the government.

Subsidy will eventually go, irrespective of whatever reality it shows.

izzou:


The point is that we can't afford it anymore. We are going into debt to pay subsidy.

We have three refineries in Nigeria. Any serious government should stop subsidy and revamp them in a year. I expected that from Buhari

Sadly, nobody trusts the government.

Subsidy will eventually go, irrespective of whatever reality it shows.

raumdeuter:


Why do you think successive govt have been avoiding the subsidy issue. OBJ tried it and had to drop the idea, Jonathan did, Buhari didnt even bother

izzou:


I don't think its because of the masses they avoided it.

Its because successive and even the current administration are benefiting from it. We all saw the outcome when it was discovered that many importers were perpetrating serious scam with subsidy.

Some we bring less volume and declare another figure. Some were even bringing empty vessels and collecting free money

No government would allow any plan if it is affecting them.

Subsidy is existing because people in government are the importers and are cashing out

GloriousGbola:


Ph refinery is definitely being revamped. I however do not know the timeline.

nihilistjnr:


Okowa made a very good point that the oil sector should be privately led. I don't believe Government should be running refinery instead of just taxing the guy who does.

The only issue I have is that Dangote seems to be aiming to build a monopoly with PDP's help.

nihilistjnr:


Okowa made a very good point that the oil sector should be privately led. I don't believe Government should be running refinery instead of just taxing the guy who does.

The only issue I have is that Dangote seems to be aiming to build a monopoly with PDP's help.

GloriousGbola:


Not really. Subsidy fraud really became a thing under gej. It was so bad that the major marketers wrote an official letter complaining about briefcase companies, shell companies created because there was a free for all come and eat going on.

If I am not mistaken, to this day the fg still owes major marketers billions in subsidy arrears.

The people perpetuating these scams were

izzou:


I hope it is completed in my lifetime



But these industries were run by the government then. How come we can't run anything now?

The people would enjoy more benefits when the government runs it

afrodoc2:


Any government that removes subsidy without putting in place serious measures to buffer the effects will fall, either legally or illegally.

On the other hand, it is almost impossible to put those measures in place with the way the twin demons of subsidy and corruption are draining the government’s finances.

izzou:


The finances are in the negative, doc.

I really don't know how anybody hopes to turn this country around.

izzou:


GEJ did want to remove it. Remember?

It was people in this government that protested. Today, they are there, and they can't remove it.

People in power are the importers. The capital to import 1 million liters of PMS no be beans.

Then imagine government paying 250, while the people pay 200. Which business get this kind assurance?

Android17:
While you are right that every government dealt with roundtripping and all the associated issues with subsidy, it was worsened by the Jonathan administration. When it became unsustainable, rather than put some sterner measures to check it, Jonathan opted to have the subsidy completely removed. Nobody was going to trust him especially when he made no serious actions towards putting palliatives in place to cushion the effect of the removal first and foremost.

You may not like to hear it but Buhari originally took a hard stance on subsidy but the marketers who claimed they were owed trillions from the Jonathan regime threatened that until some reimbursements were made, they will refuse to import and distribute refined Petroleum products. Buhari had to play ball by remitting some of the monies to them. That is why most of us always dial back to GEJ's regime concerning this subsidy brouhaha.

izzou:


So for 8 years, the government could not think of one solution to end this plague

Why couldn't Buhari revamp Kaduna, Warri and PH in his first 4 years? At least, we would have to deal with backlogs from marketers from 2019, while subsidy ends for good.

These guys are the beneficiaries. I blame GEJ for the subsidy scam, but i dont blame him for Buhari's decision to keep paying it even after 2019

izzou:


The point is that we can't afford it anymore. We are going into debt to pay subsidy.

We have three refineries in Nigeria. Any serious government should stop subsidy and revamp them in a year. I expected that from Buhari

Sadly, nobody trusts the government.

Subsidy will eventually go, irrespective of whatever reality it shows.

Segedinho:
Blaming GEJ to me is quite weird and uncalled for.....


How much has gone outa hand or borrowed for infrastructure wch are less important than building a refinery.

Subsidy is a calculated fraud and the cabals are using it at d detriment of the masses ....

Imagine the oil theft and d money lost as a result from oil scandals daily.....

It is impossible remove subsidy without building a single refinery to cushion d effect of d burst in price wch could lead to chaos or hunger in d country...

We were promised refinery 8 years ago and many of us are still using GEJ mask to exonerate Buhari...who does that??

Okowa's proposition is bullshit cos we can see how Dangote cement is dealing with d country....

If a country blessed with a good quantity of crude oil cannot build a refinery then it is pitiable

izzou:


I don't think its because of the masses they avoided it.

Its because successive and even the current administration are benefiting from it. We all saw the outcome when it was discovered that many importers were perpetrating serious scam with subsidy.

Some we bring less volume and declare another figure. Some were even bringing empty vessels and collecting free money

No government would allow any plan if it is affecting them.

Subsidy is existing because people in government are the importers and are cashing out

Theflint1:
Subsidy has to be phased out gradually, a country that doesn't have a reliable public transportation system and where the average household spends on average 20 litres on power cannot afford to pay #800/litre.

We're bleeding money from over bloated contracts, excessive government spending and outright theft. Not a fan of policies that place the burden of responsibility on the masses first.

Theflint1:
These problems you've listed, can't we find a way to first tackle them? Us having neighbors that sell higher shouldn't be an excuse for the mismanagement.

Android17:
Do you know GEJ announced in 2009 (immediately after replacing Yar Adua) that he had released $23bn for 4 new refineries?

izzou:
GEJ wanted to remove it. The current president refused.

Now you are explaining that a cartel is fighting Buhari. Why didn't you figure out that GEJ could be fighting the same cartel?

You brand GEJ as the careless one, then Buhari as the victim

Anyways, that's derailing

We can't afford to pay subsidy. We are going into deeper debts because of it, and sadly, no candidate is saying anything about the reality.
They all condemn it and move on.

And i can't remember saying Obi was going to change anything. What's this discussion in relation to Obi?

izzou:


How do you phase it out gradually?

Segedinho:

Nope.....

But,I think his successor has d power to verify and rightfully bring him to justice.

What is with the blame...He failed woefully,must his successor continue the legacy of failure?.

Myself and so many others called on Buhari who promised to be ruthless in dealing with tahe affairs of Nigeria(his credentials supported this)..

Buhari presently didn't only fail on his promises but he compromised maybe as a results of cabals and we are so so backward than even d GEJ era.

izzou:


So for 8 years, the government could not think of one solution to end this plague

[b]Why couldn't Buhari revamp Kaduna, Warri and PH in his first 4 years? [/b]At least, we would have to deal with backlogs from marketers from 2019, while subsidy ends for good.

These guys are the beneficiaries. I blame GEJ for the subsidy scam, but i dont blame him for Buhari's decision to keep paying it even after 2019

Android17:
I may quote you but I am indirectly and pre-emptively replying some other posts.

GEJ wanted to remove it but leave Nigerians in the hands of the same cartel he did not want to face. Similar to using Hyenas to protect the goats and then wonder why they keep reducing in number.
That showed he was not serious and nobody trusted him.

A palliative could have been cutting down the list of the "importers", sending the fakes to jail etc. Let Nigerians see you are serious. GEJ avoided it completely but would rather inflict the pains on Nigerians. Buhari got some of them deregistered and some even went to jail, then corruption fought back.

Meanwhile, there has always been a cartel. OBJ sold refineries as he was leaving in 2007 and Yar Adua reversed the sale as part of his first act as president. A cartel will make you do that.

obainojazz:
Could be and seems dollar fell as I just checked and noticed AUD gained against the dollar.