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Nairaland Forum / Nairaland / General / Politics / Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery (31175 Views)
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Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 4:46pm On Apr 25, 2023 |
Realguyman1: With all due respect, it is a significant enough part of the reason… There’s a reason why most of “those advance countries” do NOT have fuel subsidies. Fuel subsidy distorts the market and DISINCENTIVIZES private (domestic and foreign) investment in the downstream market in Nigeria… Meanwhile, Nigeria is EXPORTING JOBS to foreign refineries, and SUBSIDIZING/INCENTIVIZING smuggling of fuel to neighboring countries. Further, since the subsidy regime disincentivizes private investment in refining… Nigeria continues to deplete a huge percentage of its foreign exchange reserves on imports, and thereby weakening the Naira. Finally, there’s no way to rationalize that fuel subsidy does not significantly contribute to the plight of Nigerian citizens when… The subsidy budget in Nigeria is more than the capital budget for education, health, agriculture and security/defense COMBINED! In fact, the 2023 fuel subsidy of N3.3 trillion for only 6 months… Is MORE than the entire (capital and recurrent) budget of as that of up to 10 (or perhaps even more) states COMBINED !! > |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by Realguyman1(m): 5:04pm On Apr 25, 2023 |
9jaRealist:Shay Nigeria was competing with Uk in terms of development b4 the introduction of fuel subsidy regime, abi? |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 5:14pm On Apr 25, 2023 |
Realguyman1: Strawman’s Argument… Nigeria can develop much better and do much better for its citizens without “competing with UK”… After all, Nigeria did not benefit from 400 years of slave trade and labor and over a century of colonial exploitation. Meanwhile, of course, the UK (a major oil producer) does NOT subsidize fuel… In fact, on the contrary, it TAXES fuel consumption to raise revenue for development that Nigerians “japa” to enjoy. > |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by Realguyman1(m): 5:43pm On Apr 25, 2023 |
9jaRealist:What strawman argument are u talking about? U know when Nigerians done dey complete about bad governance and mismanagment of public fund? Even b4 the subsidy was introduced, Nigerians has been complaining about bad governance and mismanagment of public fund. So how came about all of a sudden, now that subsidy come dey hold Nigeria from developing? Have u asked urself or try to read about why fuel and other subsidy was introduced in the first place? |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 9jaRealist: 11:25pm On Apr 25, 2023 |
Realguyman1: I stated that fuel subsidy is a “significant enough” (NOT the only) cause of Nigerians’ plight… Nonetheless, FYI, Nigeria was developing faster in the 1960s/70s (during our parent’s era) BEFORE fuel subsidy was introduced. Subsidy was introduced “in the first place” to ensure price is the same everywhere in the nation, which is obtuse… It’s one of those distortions of the market, because with EVERY economic good pricing should reflect costs (including logistics). As the Naira weakened (no thanks to wasting forex on fuel imports), subsidy went from price equalization to price support… Yet another obtuse economic distortion, because even the roadside Akara seller does not sell them BELOW cost of production. As I often note on NL, it’s said no-one can ride on your back unless you’re bent over… The sad reality is that so many Nigerians are COMPLICIT in their fate and eager to grab their ankles for bad policies. SMH > 1 Like |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by Sunnyja: 12:29am On Apr 26, 2023 |
AntiChristian:hunger no let this one read the headline very well |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by chinchum(m): 12:49am On Apr 26, 2023 |
aminulive:Completion date of 2025 if true is worrisome. With subsidy removal in the horizon, i sincerely hope it is completed less than 12 months from now. It appears financing constraints is what may allegedly push the project to 2025. This writeup provides figures that appears like fact and hard to doubt, but i still hope it is not true. Completion date has been moved a lot. 1 Like |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by Izongdave(m): 2:21am On Apr 26, 2023 |
most likely the work of western sabotage, which even this post isn't without suspicion for 1 Like |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by XAUBulls: 7:56am On Apr 26, 2023 |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by AntiChristian: 8:46am On Apr 26, 2023 |
Sunnyja: I still eat belle full pass your generations! |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by karkinase(m): 6:10pm On Apr 26, 2023 |
chinchum:You think say na Joke.. Dey play |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by chinchum(m): 6:16pm On Apr 26, 2023 |
karkinase:Their is a rebuttal to this online. You sound like you are happy to know it wont be completed early? The article suggesting Nigeria should invest in the 4 moribund refineries for another round of looting spree never ending turn around maintenance gives me an idea it may be sponsored by thr usual enemies of Nigeria. Nigeria has a lot of enemies residing in it, i always pray they will see the success but not partake of it. |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 1stGenAmerican(f): 10:57pm On Apr 26, 2023 |
Kimber35: You’re okay with your government backing a non-government corporation that’s basically a monopoly, even after the initial promises weren’t delivered on? K. I would think you’d be wondering why Dangote is entitled to what thousands of other businesses owners are not. Thanks for your time. |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by Kimber35: 12:09pm On Apr 27, 2023 |
1stGenAmerican: Mention one single government that does back their key industries private sector or not.. It seems you are naive.. so south Korea doesn't support Samsung..their biggest employer of labour and largest industry? So USA doesn't support GP Morgan?..GP Morgan has the ability to nearly shutdown the US economy.. These are companies that their decisions can affect the entire economy irrespective of government actions.. If Dangote shut down just one of his cement plant ..let say Obajana or ibese... do you know how that will push prices because of scarcity.. If you are worried about monopoly..you should first ask yourself..which company wanted to play in any sector Dangote operates it, followed the rules and was denied...Ibeto never aligned into the back integration program for cement and was kicked out..BUA group did and see where they are today.. Is BUA and Lafarge not in the same cement sector.. inshort there is another cement plant by a new player in kogi .. did you hear anything stopping him.. Dangote came to sectors that had very little players and dominated them.. It is in the interest of the country otherwise..we would have been importing those items with the already insufficient forex we have.. You do not know your problem If yar adua had allow Dangote into the petroleum sector.. do you know we will never suffer fuel scarcity, do you know there would have been no such thing as black market for fuel... Airlines wouldn't have increased their fares few months ago cuz they couldn't get Diesel.. Fuel is around N190 in Abuja.. but is sold above N300 in benue and some other northern state.. so many filling stations are dead because there isn't enough fuel to go round.. You must be joking seriously.... I still ask you.. mention any Government around the world that do not support their biggest players in their economy.. If you are annoyed that Dangote wants to dominate the Petroleum sector but unbothered about the fact that 3 big refineries were allowed to rot by government then something fundamental is wrong with you The main reason why people dislike Dangote is because he is Nigerian and black just like them.. there is a default programming in black people's head to hate their fellow progressive people.. If it was Elon musk doing this.. you won't say such Dangote is entitled to what thousands of other businesses are not because thousand of other businesses are not doing what he is doing at such massive scale.. you don't find someone walking around with $19 bn to build a refinery in the street peace |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by 1stGenAmerican(f): 2:36am On May 01, 2023 |
SCAMERICA: Even if the dollar fails and America falls, you’ll still be confined to prison walls serving your three life sentences, Mr. Bah. Child rapists are the scum of the earth. Why don’t you introduce yourself to everyone. https://news.obiaks.com/crime/191115021453/nigerian-man-in-usa-bags-3-life-sentences-plus-76-years-in-prison-for-rape
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Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by tunwumi: 5:53am On May 10, 2023 |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by tunwumi: 5:53am On May 10, 2023 |
erniok: Hope you have been cleared now? |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by tunwumi: 5:54am On May 10, 2023 |
Phantom233: Oh ye of little faith. |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by tunwumi: 5:56am On May 10, 2023 |
prophetfire: I do read and understand without biases. It expand my understanding as biases clogged and narrow understanding. Hope you have been cleared now? |
Re: Fueling Uncertainty:investigating Nigeria's Subsidy Removal And Dangote Refinery by erniok(m): 9:50am On May 10, 2023 |
tunwumi:cleared? How? |
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