themanderon:


There are non alcoholic beers now. Have you not seen them before ni?

nairalanda1:


Like you did not read my post

I SAID...that WE SHOULD CUT POLITICANS salaries and money WELL WELL

Once again, we should cut politicans salaries well well

In case you did not hear me...WE SHOULD CUT POLITICANS MONEY WELL WELL WELL.




But the money raised won't even pay for one quarter of what we need for subsides this year.

nairalanda1:


What part don't you understand , where I said, that I won't argue with you that we should cut politicans salaries. Indeed we must and should cut the politicans salaires.

The issue where we disagree is....the monies raised from cutting the salaries won't be enough to pay for subsidies as it stands.

themanderon:



What is this subsidy we are even talking about and who calculated it? Is it not the same government? Why was the subsidy becoming astronomical with each passing year? And why does it not fall when the price of crude falls at the international market when the price of pms is expected to fall?
Once again I say do not be deceived by what they are telling you.

Padipadi:

Whichever way, one bold step to reduce corruption is to slash their money. Make their posts less juicy. Let those that wanna serve come in, not those we are servicing.

themanderon:


There are non alcoholic beers now. Have you not seen them before ni?

pafra:


I wish you know what is going on. From your initial post you lack empathy. I still perceive pride and arrogance in the later.

I wish you know they are those that don't have capital to capitalize, don't have nothing to merge

Which problem do I have coming to terms with tinubu. He is not more than any politician. That stolen the common wealth of the poor. Because he is your Kingsman, you believe he will change Nigeria to eldorado .

Keep defending them.

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.

sucess001:


And the refineries? Stop making excuses for ineptitude

nairalanda1:


Yeah, but at the end of the day,the issue with refining is that under subsidy, it was not profitable....because subsidy meant that in essence, refineries sold petrol at a loss. Or marketers sold at a loss, and did not have enough money to pay refineries, and the subsidy paid did not cover losses adequately.

At least the paper mill's problems on the other hand was years of monopoly, and not being an active exporter. That meant that when the market was opened in the 90's, they could not compete with better imported products.

hedonido:


Please stop this madness.

Do local refineries have to buy crude in USD or at international prices? Why can't the real subsidy be in the government supplying crude (which we have in excess in reserves) at stable, rebated prices to local refineries? If that is the case, why should locally refined petrol be selling at international, free market petrol prices?

nairalanda1:


1,Nigeria Ariways...badly managed. (for example, people were not paying excess luggage...loss of money) plus probably cheaper than other competitors. Result..losses

2.Nitel: Heavily subsidized. Even their mobile arm Mtel was so subsidised, that at the end they could not make the profits needed to compete with MTN and co....result losses

3.Nipost: NiPOST works very well,thank you very much. It is just that emails, SMS and whatsapp have replaced letter writing which was its bread and butter...and the telephone replaced telegraphs long time ago.

4.NRC: Run badly. Very badly..pjus even now tickets are cheap. (British railways was a mess till it was privatised..today it runs very well).

nairalanda1:


I don't recall calling you mad. You can be more polite next time, thank you



Well, they could...but at the end, the people who extract crude would lose money, and won't be able to meet up with their obligations(eg upgrading facilites, paying workers improved salaries, paying taxes, paying community develipment, etc,)...which could have an impact on our domestic crude production.

The best government can do is have Dangote and co pay for crude in Naira, but that won't make much difference. Maybe tax breaks too...but again that won't make the difference.

Hopefully, since subsidy is now gone, domestic refining would be attractive, which would lead to more and more refineries, and prices dropping. Won't drop to below N200 though....unless value of naira improves, another story.

Also, I doubt we have crude in excess....and reserves exist for a reason, opening them up can lead to more problems.

LadyExcellency:


Our current prices are inflated compared to our neighbour's official cost of petrol.

Cutting the peñis and sealing the vargîna is not a solution to curb high libido.

The government is not governing through various agencies that are required to do their jobs of stopping the abuse of social welfare hence they want them removed. The ultimate aim of any government is to make life easy and dreams achievable for the citizens.

emorse:

Whose fault? Aren't we saying the same thing here? Besides, it was never cheaper than its competitors. It actually ran quite profitably for a while until the Nigerian factors came in play.


Nitel was never subsidised. As a matter of fact, it enjoyed monopoly for a very long time during which it was mostly unaffordable to the middle and lower classes. When MTEL came, it was considerably more expensive than Econet and Glo. What did you say about it being subsidised again?


Bro, are you for real? Maybe you're just pulling my legs sha. USPS predates Nipost and emails and all didn't kill it. Are you aware that billions of naira is still budget to run those dilapidated structures that dot our surroundings? Those very same buildings that are always virtually empty o.

Once again, we're saying the same thing using different words. Bad management the younger brother of corruption. The Chinese government runs the most complex railway network in the world and they have never complained. As a matter of fact, you can't but envy them.

See bro, as long as we continue to permit corruption (especially in high offices), no amount of money we earn or save will be enough to run this country. Our budget for petrol subsidy has been in the trillions of naira for years because NNPCL claims that our daily consumption was about 60m litres. Subsidy was removed and the price of petrol in neighbouring countries suddenly jerked up. Who is fooling who? Don't you see that we could have saved a lot from simply checking the smuggling if our petrol? Those tankers and pipelines used to smuggle are not pocket sized na. But no, as someone said earlier, we have to cut off the penis and seal off the vagina to control our high libido. We're just paying for their ineptitude jare.

hedonido:


You know we have crude in excess. We can't meet ordinary OPEC quota due to inefficiencies such a bunkering. Then again the phenomenon of oil bunkering and such are purely down to government incompetence. Which is the argument some of us put up against the so-called subsidy removal. The masses cannot and must not be punished for government incompetence and corruption.

nairalanda1:


Well it is around 445 naira or thereabouts. At least it isn't below N300.



And they do that because

1.They can afford both subsides and keeping up their refineries

Libya sells petrol below N20 per liter...and earns revenue from selling 1.8 million barrels of crude a day...whcih it shares among 7.8 million people.

Nigeria at best produces 2 million barrels of crude a day...which it has to share revenue from..among 220 million people.


2.Also, all those countries have massive debt as a result.

Iran subsidsies fuel...AND even has working refineries...AND even has electricity working well....

The problem is at the end of the day, they spend twice their revenue from oil on subsides, and have a very heavy extenral debt. And when the government there suggests removing subsidy....


3.And then there is Venezuela. Heavy subsides...and losses from smuggling of up to 18 billion dollars, and diminished refining capacity...because their refineries cannot make enough money to pay for maintenance...it is what happens when you sell fuel at N12 a liter.

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.

nairalanda1:
The problem with subsidy is price setting.

Everything else, including ineptitude...and corruption...arises from the first cause...price setting...

I'll end it here.

nairalanda1:


On the other hand, a good way to punish the masses is by saddling them with debt resulting from increasing subsidy costs.

Note, I don;t deny corruption and incompetence. Subsidy in itself is a big fuel for corruption and incompetence because free government money.

Removing subsidy means the refineries HAVE TO WORK FOR THEIR MONEY...meaning no more room for corruption and incompetence.

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

nairalanda1:


Removing subsidy is more like dealing with the source of the high libido, not cutting anything (and I don't advise self mutilation by the by )


The problem with subsidy is that the difference between the production and transport cost AND the subsidized retail price is always growing...and it keeps growing, until one day, we wake up and we are shoveling all our oil revenue, AND borrowed money to pay for subsides.

Add the fact that oil revenues have not been sufficient for us for years, and the naira value is falling, ....and at the end, we could be spending far more than we earn to keep fuel cheap.

At some point, IMF would start telling us to get our house in order, or no more loans.

It's a mess, personally I think we need subsidy because people are poor (me mask slipped), but if we do not want to end up like Sri Lanka , we have to remove subsidy now.

franciskaine:
the cost of producing a litre of fuel is 445? Bros abeg stop the false information.

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

nomolos92:


They budget billions for refineries every year and still go back to loot it
Let them fix the refineries first

emorse:

You've actually tried bro. I wish you'd get paid. However please check this before you go and tell me how on earth they were making losses at the previous price if not for corruption.

[URL]https://voltaoil.com/what-makes-up-retail-price-for-gasoline/[URL]

You seem to be missing the point. We shouldn't be borrowing in the first place because the subsidy bills shouldn't be so high. Yes it is a fuel for corruption and ineptitude but that's because people don't get punished for their wrong doings. And now matter how free the market becomes, no amount of money we earn or save will be sufficient for is if we continue to shift blames to the masses instead of punishing offenders.

nomolos92:


That's the lies they told you, they'll remove what you benefit from the government and make you believe it's for your good but they'll never reduce their exorbitant salaries, bonuses and allowances an inch.
Buhari administration had 44 ministers just for political rewards and senseless jamboree, meanwhile we only have 28 federal ministries and the constitution only allow 36 cabinet members (one from every state)
This is just one of the waste the waste money and make governance so expensive, they'll never reduce the cost of governance but they'll make stupid excuses to strip you of your benefits and pass the suffer to you

nairalanda1:


Good idea, but we won't have enough money to pay for subsidy from what we raise from such cost cutting.

Like I told you, national assembly is spending N170 billon naira this year. Even if we took all that money and used it for subsidy it won;t cover subsidy costs for a month...which according to this year's budget was 600billion naira for one month alone.

nairalanda1:


Corruption is a sympotm of subsidy...it happens whenever there is a subsidy...because free government money.

At the end, let's see if Dangote is serious about domestic refining.

Corrections:
.

ChenHao23:
Someone that was granted import license for pms as confirmed by the house of representatives?
Does that looks like someone who's sincere about refining crude oil to cushion the effect of the subsidy removal?