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Nairaland Forum / Nairaland / General / Politics / Nigeria Subsidy Removal Puts Pressure On EU Refineries (32675 Views)
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Nigeria Subsidy Removal Puts Pressure On EU Refineries by emkz: 9:19am On Jul 28, 2023 |
The decision by Nigeria's President Bola Ahmed Tinubu to remove the very popular but expensively scandalous fuel subsidies has reduced the demand for petrol in the West African country and also removed incentives for smugglers. Nigeria had been a popular destination for refined fuel from the EU, and with the current development, the EU refiners need to look elsewhere to break even. One of Europe's main markets for gasoline has shrunk, threatening to squeeze European refiners, after Nigeria removed fuel subsidies, which destroyed much of the country's domestic demand and a regional market for smuggled fuel. https://www.reuters.com/business/energy/end-nigerian-fuel-subsidy-set-squeeze-europes-refiners-2023-07-28/ 24 Likes 5 Shares
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Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by ImDStar: 9:19am On Jul 28, 2023 |
In Nigeria, poor people are standing on the mandate of criminals, and the criminals inflict them with more pain and poverty. The poorer they get, the richer the criminals get. Let The Poor Breath. Suffering and smiling poverty. When you try deliver them, they tag you names. 114 Likes 15 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by PlayerMeji: 9:22am On Jul 28, 2023 |
The dividends of subsidy removal will soon begin to trickle in... 118 Likes 5 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by TemplarLandry: 9:24am On Jul 28, 2023 |
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Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by emkz: 9:28am On Jul 28, 2023 |
I enjoyed the part of the report that cited that once the subsidy was removed, the financial incentive for smuggling was killed. Removal of subsidy was a brilliant move by the President. For many years, Nigeria was taking from our purse to feed criminals and foreigners. How do you collect subsidy and still take our fuel to sell it elsewhere? Let our states government step in to help our people by addressing the after-effects. Subsidy did not help the poor it was meant for. 143 Likes 9 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Dotherightthing: 9:30am On Jul 28, 2023 |
Wow God bless Tinubu 34 Likes 6 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by MadamExcellency: 9:31am On Jul 28, 2023 |
We no use again. Make EU, and FG drink the PMS and the crude oil. 4 Likes |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by BobbieZion(m): 9:36am On Jul 28, 2023 |
Good development. Let our refineries work first..... Because up till now we still import refined fuel which price is determined by exchange rate. If the value of dollar was less than N200. We wouldn't have been buying fuel this costly. Simple. 37 Likes 2 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by tommy589(m): 9:40am On Jul 28, 2023 |
I hope the gains of the removal is not stolen 21 Likes 3 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by seanfer(m): 9:52am On Jul 28, 2023 |
Doing father Christmas to for other countries when your citizens are in poverty... 47 Likes 3 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by jmoore(m): 10:02am On Jul 28, 2023 |
emkz: Poor man pays transport of 200 naira during subsidy. Poor man now pays 500 naira after subsidy removal. You guys should stop this lies!!! Everyone benefitted from subsidy, directly or indirectly. The economy runs on petrol because Nigeria has a paltry 5,000 megawatts for a population of 200 million. Apart from paying more for transportation, the poor will pay more for food because cost of transportation affects prices of foodstuffs. Blaming smugglers for the subsidy wahala is one being myopic. If a thief keeps breaking your home to steal foodstuffs, would you stop buying foodstuffs and let your family die of hunger because of thieves? No! You will seek for ways to catch the thieves. Instead of bringing in measures to catch smugglers, Tinubu decided to punish millions of Nigerians because of the actions of few smugglers that may not be up to 3,000. 111 Likes 15 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by JAMO84: 10:02am On Jul 28, 2023 |
The whole world agree with Tinubu that subsidy has to go, only the world infamous cocaine distributing tribe are against Tinubu right now. 109 Likes 5 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Helinuesdoctor: 10:04am On Jul 28, 2023 |
94 Likes 2 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Day169: 10:20am On Jul 28, 2023 |
PlayerMeji:I like your choice of words.. 'trickle'! 5 Likes 1 Share |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by emorse(m): 10:32am On Jul 28, 2023 |
jmoore:You dey mind them? People seem to have lost their ability to think. They just log on to social media, find the loudest noise and add theirs to make it louder. 37 Likes 4 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by tamdun: 10:41am On Jul 28, 2023 |
jmoore:So what are you suggesting,we should continue providing jobs for Europe when our own is suffering? 36 Likes |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by jmoore(m): 10:46am On Jul 28, 2023 |
tamdun:Ask APC government. Buhari had 8 years, pumped billions of naira to fix PH, Warri and Kaduna refinery. Yet, none is working. You are still providing jobs for Europe after subsidy removal because Nigeria is still importing petrol. 46 Likes 4 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by nairalanda1(m): 11:02am On Jul 28, 2023 |
(Disclaimer: I do not work for Tinubu, APC, the government, NNPC, or petrol marketers, lol) Well, I doubt EU refinereis would be losing money, since we are, after all still importing. And even if Dangote comes on stream tomorrow, we would still have to import. The report is some ten years early. As for smuggling, some smuggling still goes on, but the cost differential makes it less profitable. At least the smugglers are spending their own money, not government money. Finally,we need to get domestic refining back on stream, now that petrol is profitable. Good thing subsidy is gone. At the end of the day, there is only so much of tomorrow's money one can spend today. 98 Likes 2 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Racoon(m): 11:06am On Jul 28, 2023 |
All these shenanigans open more leeways for the corruption ridden government to fleece the subsidies to fund the stupendous lifestyle of the overbloated politicians. 4 Likes 2 Shares |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Racoon(m): 11:07am On Jul 28, 2023 |
JAMO84:Tinubu have been sniffing cocaine and heroine before others followed given his sensation $460,000 Chicago court forfeiture in 1993 without any attempt to clear his name. Meanwhile, the balabloo-blu-bulava heroin drug baron kicked against the same policy in 2012 with the infamous Occupy Nigeria protests @ Ojota and Abuja? What have changed now? You lots have to be the most wicked set of humanity 15 Likes 2 Shares
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Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Racoon(m): 11:08am On Jul 28, 2023 |
PlayerMeji:Yeah! Like the Tinubu/Shettima budgets for food, foreign travels, estacodes, presidential privileges, 70B for new NASS members, $800M palliatives money about to be embezzled? 9 Likes |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Okoroawusa: 11:13am On Jul 28, 2023 |
ImDStar:Are you sure you read the article? 69 Likes |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by envoymedia: 11:13am On Jul 28, 2023 |
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Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by BarrElChapo(m): 11:13am On Jul 28, 2023 |
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Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by gaby(m): 11:14am On Jul 28, 2023 |
When the citizens have been rendered poorer and dumped their vehicles for commercial vehicles or walking, I'm sure that is to be counted as gain to the government of the day. Their supporters need to rejoice even harder when the statistics on vehicle importation or usage is thrown up. Una never understand where una dey go. Niger and Benin Republic go soon close their borders to Nigerian refugees. 4 Likes 1 Share |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Felix6: 11:14am On Jul 28, 2023 |
K |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Savechild23: 11:14am On Jul 28, 2023 |
Lies, tilumbu is a bad omen 2 Likes |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Ayoola171(m): 11:15am On Jul 28, 2023 |
Okay |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by BluntCrazeMan: 11:15am On Jul 28, 2023 |
Ok oo |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by Menclothing: 11:15am On Jul 28, 2023 |
Where is dangote refinery and 32 other Nigerian with license Running promo check here 1 Like |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by EdiskyHarry: 11:16am On Jul 28, 2023 |
Mtcheew |
Re: Nigeria Subsidy Removal Puts Pressure On EU Refineries by marlow1962(m): 11:17am On Jul 28, 2023 |
Clowns What's still hindering the private refinery owned by evil politicians from functioning? I taught agbadorianzzz celebrated it, what's happening? 3 Likes |
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