Ok

Chai

9jahotblog:
Nigerians political leaders are just suffering us niii

If subsidy had continued you would have known what suffering is. Thank your stars you have President with some courage

I'll leave all these statistics & analysis for Economic Eggheads.
Fact before us now is that the average Nigerian is faced with higher cost of living & increased hardship as a result of the fuel subsidy removal.

And pls make sure u also compare the minimum wage paid in those countries

What is "non-alcoholic beer" please?

9jahotblog:
Nigerians political leaders are just suffering us niii

Not true they are not suffering us ..is actually for our own and developmental benefits

There will be no money to loot now
Of you like bring fuel in at ₦8000 n sell at ₦190 ko kan aye

ezechi242:


i disagree with you on this, subsidy actually is'nt the problem here, the problem are the corrupt government officials stealing from the government while pretending the payments are meant for subsidy.

now they have removed subsidy but still importing fuel at the masses expense, and the monies saved from subsidy would still be looted just as its been looted while pretending to be paying for subsidy.

yes subsidy had to go, but not at this time that the country is in a mess.

It was 185 before subsidy was removed, how come it’s now 500 ? How much was subsidy on each liter before ?

Obviously the government has included indirect tax , we are paying all Buhari loans

Ventura1:
Did this comparison factor in the population of these countries? I doubt.

LIBYA: The current population of Libya is 7,146,669 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data
Libya Crude Oil: Production was reported at 1,164.000 Barrel/Day th in Feb 2023

ALGERIA: The current population of Algeria is 46,185,544 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data. 2023
Algeria Crude Oil Production was reported at 1,013.000 Barrel/Day in Mar 2023.

NIGERIA: The current population of Nigeria is 221,210,114 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data
Nigeria Crude Oil: Production was reported at 1,380.000 Barrel/Day th in Feb 2023

Did they not say Oil production has gotten above 2m per barrel since May?

ezechi242:


i disagree with you on this, subsidy actually is'nt the problem here, the problem are the corrupt government officials stealing from the government while pretending the payments are meant for subsidy.

now they have removed subsidy but still importing fuel at the masses expense, and the monies saved from subsidy would still be looted just as its been looted while pretending to be paying for subsidy.

yes subsidy had to go, but not at this time that the country is in a mess.

Are oil marketers collecting the subsidy and diverting most of the tankers abroad government officials or private individuals?

We are so used to gathering all blames and dumping them at the feet of the government like government is a person.

Let's start apportioning blames appropriately.

ijustdey:


https://sunnewsonline.com/fuel-subsidy-removal-cost-of-living-petrol-rates-in-oil-producing-countries/

always confirm articles before copying and pasting. 1liter of petrol in venezuela is not 2naira rather it is 14naira.

Cost of 1litre in venezuela is 0.60bolivers. Convert 0.60bolivers to naira is 14naira. And its because of the deprecated state of the naira.

Imagine comparing venezuela with Nigeria, venezuela that all of them are in poverty with collapsed economy

9jahotblog:
Nigerians political leaders are just suffering us niii

then pack go venezuela bro

nairalanda1:


Which is part of the problem in a way.

Now in other secotros where there is no subsidy, does stealing of the same kind happen? No.

And even without stealing...at the end, the prodiuction cost is always rising beyond the subsidsed price. At some point we would be spending more than our revenue earned....and where would we be? Broke.

Fixing power won't solve the problem, nor would fixing corruption...and WE SHOULD DO BOTH. But so long as production and transport costs keep rising...and this is true even if we refine at home, subsidy costs will rise and rise till we reach peak problems.




That's why we have to do the hard work of democracy. Hold people accountable., It's what they do in sane countries.

Crying about how they would steal the money does not do anything.


That's what was said in 1993, 2006, 2012, and many times over. Now we are borrowing to pay most of the subsidy. If not all. Something had to give.

To add to this.
In 2012, GEJ removed the subsidy then later went back to a partial removal, sure P was introduced to cushion the effect. However, sure P was poorly Abi corruptly managed, the subsidy cost kept increasing even beyond the previous cost beyond partial removal.
Bubu came, claimed subsidy has been removed, a new subsidy was introduced, that is, logistic and storage cost , which also kept increasing.
I actually think it's best we do away with it.
GEJ would have been the best person to remove it, 3things worked against him then; it was done during festive(new year day), the subsidy cost grew beyond imagination in less than few months under him, he do not have control of the party then(as the party would have put in effort in the media to protect the decision)

Ventura1:
Did this comparison factor in the population of these countries? I doubt.

LIBYA: The current population of Libya is 7,146,669 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data
Libya Crude Oil: Production was reported at 1,164.000 Barrel/Day th in Feb 2023

ALGERIA: The current population of Algeria is 46,185,544 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data. 2023
Algeria Crude Oil Production was reported at 1,013.000 Barrel/Day in Mar 2023.

NIGERIA: The current population of Nigeria is 221,210,114 as of Friday, June 16, 2023, based on Worldometer elaboration of the latest United Nations data
Nigeria Crude Oil: Production was reported at 1,380.000 Barrel/Day th in Feb 2023

What about corruption level analysis?? Nigeria ranks 1st among these African countries you comparing with. Nigeria's corrupted polithiefcians siphon millions of dollars from government at the expense of poor Nigerians. So there is nothing to justify here....

ARE U AWARE OF MILLIONS OF DOLLARS NIGERIA LOSE TO CORRUPT POLITICIANS EVERY YEAR? THIS MONEY CAN PAY #200,000 MONTHLY SALARIES OF ATLEAST 50MILLION NIGERIA'S WORKERS FOR 5 YEARS WITHOUT SWEAT.

Cutting cost governance and politicians extravaganza would save the countries trillions of dollars.

Please compare the minimum wage and liveability conditions, HDI, PCI, CPI etc

Well researched, excellent article from Sunnews 👍

Until market let women start selling an egg for 20 naira then I will know that fuel subsidy is gone and that the move was a good move. I know APC is a colossal failure

LadyExcellency:
The cost (N500) in Nigeria 🇳🇬 is high.

Nigeria was selling at N195 and Benin Republic domestic fuel sold at CFA508 (N381), so the smuggler took that advantage to exploit Niger’s market, selling below our litre price. - Benin Republic Reports.

The actual price of petrol in Benin Republic is N381

CFA508/N571 exchange rate for today

Subsidy for Nigerians is simply paying for the inefficiency of government and the ruins brought on us over the years by corruption.
What is our benefit having oil if we pay same price for petrol, diesel as non producers do? What is our minimum wage and purchasing power compared to those non producers?
I filled my tank with 50k yesterday. How many people earn 50k in a month? 100k fuel weekly ie 400k monthly on just 1 vehicle. NO BE JUJU BE THAT?

Well all this one no concern me..Na God dey make me live above this economy.

fineboynl:
..most of those countries where pms is expensive don’t make use if pms. What they use is cng. Example of where i have been to are India and ghana. Indonesia. Only few private cars run pms. Also they do not make use of generators.

Don't mind the preneolithic animals. Their primary aim is to recoup the money they used to steal the people's mandate. They should be more concerned with what they do with the crude oil and the money they generate from selling it. The only thing Nigerian suffering masses use to benefit from the country was probably the so-called fuel subsidy, which made the price of petrol relatively affordable.

Since this irrational measure was announced, life has become ten times more difficult because almost everyone relies on petrol to survive in Nigeria, given the country's dark state.

BreconHills:


If subsidy had continued you would have known what suffering is. Thank your stars you have President with some courage

Stop deceiving yourself. Your problem is criminality, not subsidy. Several countries of this world including Europe and America, Asian and Arab countries have petrol subsidies and are still far ahead of Nigeria. Again, your problem is fraud and stealing, not subsidy, and you know it. NNPC tells you that Nigeria consumes 60 Million litres of petrol per day and you agree and pay without verifying. They import 1 million litres and tell you they imported 100 million litres and you agree and pay subsidy on 100 million litres! Without verifying!!! How wicked and evil!! You know it's not possible to consume that much. But you consent and pay because you're involved in the crime. You know I'm referring to the Nigerian govt in my comment and not you as an individual. Stop swallowing the lies the FG tells you( unless you're one of them). Criminality, never subsidy, is the problem.

If they want to keep money or safe money.
They should cut cost of governance thereby reducing the number of cars for ecort and all the big big allowance and all while a fresh graduate has nothing to take home after service.

Our politicians are very wicked and selfish

nairalanda1:


If they kept the subsidy...we would have eventually run out of money...and IMF would have refused to borrow us money anymore.

Then true suffering would start.

Buddha3:
What is "non-alcoholic beer" please?

The same as non alcoholic whisky.

Everlastingson:



Stop deceiving yourself. Your problem is criminality, not subsidy. Several countries of this world including Europe and America, Asian and Arab countries have petrol subsidies and are still far ahead of Nigeria. Again, your problem is fraud and stealing, not subsidy, and you know it. NNPC tells you that Nigeria consumes 60 Million litres of petrol per day and you agree and pay without verifying. They import 1 million litres and tell you they imported 100 million litres and you agree and pay subsidy on 100 illion litres! Without verifying!!! How wicked and evil!! You know it's not possible to consume that much. But you consent and pay because you're involved in the crime. You know I'm referring to the Nigerian in my comment and not you as an individual. Stop swallowing the lies the FG tells you( unless you're one of them). Criminality, never subsidy, is the problem.

You're supposed to know that agbado cronies are just being mischievous they know what they are doing...don't waste your plenty grammar on those ones

abhosts:
Nigeria is a nation whose citizens can no longer enjoy the privileges of an oil-producing state because most of the Nation's resources have been plundered and mismanaged.

Absolutely mismanaged by past leaders but this administration will definitely correct these abnormalities in our system.