Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

At least, he should have waited for Dangote refinery to come on stream. Why the rush?
I doubt if Nigerians will embrace another increase.

SemperFid:


Lol 😆 🤣

U go cry tire.

cry....
you igbos realy think others are weak minded like una....

awon olomo sit at home....

Only on naija does nothing make sense.
They said subsidy was killing the economy, we were using scarce income ie dollar income from crude sales to subsidize. Subsidy was causing devaluation of the naira and other tales. They removed subsidy and floated the naira, yet naira keeps crashing to the dollar. As I said some time back, make price of petrol ₦1500 per liter and in few months, they will make it 2000, it is an upward spiral.
The acting cbn governor the other day was prectically saying he did not know what to do again.

WildChild00:
Hardship looms, Tinubu ought to have fixed the refineries before removing subsidiaries, now hardship knows no party affiliation, both Apc, pdp, labour party supporters feels the pains.

Don't worry.

It's too early to start complaining.

Fixing the refinery or not, the hardship will definitely favour them and their roonu families worldwide.

You said "Because for many years, under the guise of subsidy, we were selling fuel at a loss, and paying a subsidy to cover the loss...which it could never do adequately. That led to the refineries running down, and then we became an importer...." Government subsidies can be seen as economic packages deployed to stabilize or grow critical sectors of a nation's economy. When you say "we were selling fuel at a loss...." are you referring to oil marketers or government? One major reason why subsidy was introduced was because of the importation of fuel due to our local refineries not working.... What led to the current state of our refineries was corruption and lack of will by those in government to fix the refineries and not subsidy. If the government was committed to fixing the old refineries or building a new one Nigeria won't be in the mess we are in today. The truth is that the status quo promoted corruption in the system which enriched many in government over the years.


You said "But Nigerians kept saying no to subsidy removal, encouraged by people like Tinubu who is in power now. And right now, we are in so much of debt that we cannot pay for subsidies anymore. Not without going into even larger debt. Not without running out of money in the next 5 years...." If Nigerian government had borrowed over the years to fix the refineries or build new ones we would've paid back the loan by now and won't be in debt.... I will say the fuel subsidy remains one major program Nigerians gained from the corrupt government since 1999.... so it was right that Nigerians said no to subsidy removal.... a responsible government should've made sure that our local refineries were working before removing the fuel subsidy if it must be removed..... I will say again that government subsidy is not a bad thing as it exists to stabilize key sectors of a nation's economy.....


You said "You don't have to like it. I don't. But for me it is either we suffer a lot now, or we get ten to twenty times what we suffer now in a few years...where the bank would be telling you you cannot withdraw money because there is no money...." Unfortunately this corrupt APC government now led by an illegitimate president who's policies and that of Buhari since 2015 are instrumental to the devastating economic realities we are facing today can't be trusted to sanitize the system and bring urgent reforms to improve the economy....

nairalanda1:


Because for many years, under the guise of subsidy, we were selling fuel at a loss, and paying a subsidy to cover the loss...which it could never do adequately. That led to the refineries running down, and then we became an importer.

We could have gotten the refineries up and running again by removing subsides and privatising NNPC, cutting it off from free government money and forcing it to work for its money.....like a legit company.

But Nigerians kept saying no to subsidy removal, encouraged by people like Tinubu who is in power now. And right now, we are in so much of debt that we cannot pay for subsidies anymore. Not without going into even larger debt. Not without running out of money in the next 5 years.

It is either we pay the market price of fuel from our pockets, or we pay for it at IMF rate in a few years, at IMF conditions.

You don't have to like it. I don't. But for me it is either we suffer a lot now, or we get ten to twenty times what we suffer now in a few years...where the bank would be telling you you cannot withdraw money because there is no money.

nedekid:
Only on naija does nothing make sense.
They said subsidy was killing the economy, we were using scarce income ie dollar income from crude sales to subsidize. Subsidy was causing devaluation of the naira and other tales. They removed subsidy and floated the naira, yet naira keeps crashing to the dollar. As I said some time back, make price of petrol ₦1500 per liter and in few months, they will make it 2000, it is an upward spiral.
The acting cbn governor the other day was prectically saying he did not know what to do again.

what can he do....??
print dollars himself....??

tsdarkside:


cry....
you igbos realy think others are weak minded like una....

awon olomo sit at home....

By the time fuel reach 1200 per liter, u won't even have the guts to go out. You'll just chose to die inside ur house.

nairalanda1:


Because for many years, under the guise of subsidy, we were selling fuel at a loss, and paying a subsidy to cover the loss...which it could never do adequately. That led to the refineries running down, and then we became an importer.

We could have gotten the refineries up and running again by removing subsides and privatising NNPC, cutting it off from free government money and forcing it to work for its money.....like a legit company.

But Nigerians kept saying no to subsidy removal, encouraged by people like Tinubu who is in power now. And right now, we are in so much of debt that we cannot pay for subsidies anymore. Not without going into even larger debt. Not without running out of money in the next 5 years.

It is either we pay the market price of fuel from our pockets, or we pay for it at IMF rate in a few years, at IMF conditions.

You don't have to like it. I don't. But for me it is either we suffer a lot now, or we get ten to twenty times what we suffer now in a few years...where the bank would be telling you you cannot withdraw money because there is no money.

You people should stop this narrative please

How many litres of fuel does Nigeria consume in a day? Even the nnpc does not know.

The same nnpc in cahoots with marketers inflated the subsidy claims and diverted more than half of subsidized PMS to neighboring countries.

What we consume in Nigeria is well within government means to subsidize. I wonder why nobody in nnpc has been arrested for the diversions instead of cancelling the subsidy regime.

For your information subsidy is not evil as APC is and their supporters are trying to paint it. Every sensible nation on earth have subsidy Regims for their citizens. For some it's education or social security benefit. Even US subsidizes fuel anytime it gets above a particular price by opening their oil reserves or increasing local production.

This policy just like the exchange rate policy has failed but Tinubu and his minions are too proud to admit it. I thank God that there is no sesperate market or filling station for APC supporters

Na Una go feel am pass sef

SemperFid:


By the time fuel reach 1200 per liter, u won't even have the guts to go out. You'll just chose to die inside ur house.

i knew it....you are igbo....
i immediatly know now through the way una reason....

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Stop defending nonsense.

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Stupid excuses as usual.

You guys will keep defending nonsense until you run out of what to say.

There is no international regulatory price for refined fuel as it depends on cost of production (Cost of refining)..... Unlike oil price that is regulated by OPEC

Cromagnon:
no
Intl price of fuel is over 700 per litre

helinues:




We need to save reasonable amount of money before spending as we are no longer ready to be borrowing unnecessarily.

Open ur eyes.... u are not saving anything... the three arms of goverment has refused to check their excesses and luxury life style...

Nigeria is broke...nigeria is broke... they are all buying bullet proof vehicles...collecting ridiculous holiday allowance... many of them in senate still collect pension and allowances of the executive/past office office they left....

Masses are suffering for nothing......

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Hope and pray they get it right, maybe, and if they are genuine and have the capacity.
As per the current hardship being a global pandemic, that is disagreeable. Ours is self inflicted. Where is their global hardship pandemic? Where is there hardship different from what it has alway been?

helinues:


It's only in Nigeria whatever goes up never come down most especially the price of goods and services

Naija system dont obey economics theories...
U cant model greed and corruptn

tsdarkside:


i knew it....you are igbo....
i immediatly know now through the way una reason....

And you are

As long as we are silent, we will continue to suffer

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

There is enough money to repair refineries...
If Tinubu can reduce the cost of governance...
But it is a suicide in politics....
Dats the challenge...

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Global what? You lots are the reason why we are here in the first place. Terrible

Iamzik:


You people should stop this narrative please

How many litres of fuel does Nigeria consume in a day? Even the nnpc does not know.

The same nnpc in cahoots with marketers inflated the subsidy claims and diverted more than half of subsidized PMS to neighboring countries.

What we consume in Nigeria is well within government means to subsidize. I wonder why nobody in nnpc has been arrested for the diversions instead of cancelling the subsidy regime.

For your information subsidy is not evil as APC is and their supporters are trying to paint it. Every sensible nation on earth have subsidy Regims for their citizens. For some it's education or social security benefit. Even US subsidizes fuel anytime it gets above a particular price by opening their oil reserves or increasing local production.

This policy just like the exchange rate policy has failed but Tinubu and his minions are too proud to admit it. I thank God that there is no sesperate market or filling station for APC supporters

Na Una go feel am pass sef

Well, the important thing about subsidy is not the amount of fuel we consume.

It is , and always has been the difference between the production cost, and the cost of fuel as set by government at the pump.

All that, including the corruption and the mess you just mentioned flows from that.

helinues:


Importation of some products must be reduced to start with, what's the meaning of importing fish, Turkey, books, toothpicks, the annoying part we make our native wear here and also sew it, same as shoes, why are we still Importing second hand clothes and shoes?

We waste our forex reserves importing unnecessary things

It is fuel importation that consumes a chunk of our for example, not fish, Turkey, toothpicks as you mentioned
If I were the president, I would ensure that Dangote refinery comes on stream before any subsidy removal.

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

your a big EMU EMU...


chai....keep supporting tinubu, long may you continue to suffer

helinues:


Imagine once a Pdp supporters on this forum claiming saint..

Would any of the presidential candidates removed fuel subsidy without Nigerians goin through some hardship for some time

You people are not interested to face the reality of things apart from blaming games

Helinues, emotions and sentiments aside, do you and your congregation really want the truth on this fuel issue? And if it's told to you, are you open minded enough to accept it?

WildChild00:



So using the citizenies as sacrifice is better, before resuming office, he ought to have a blue print, how can you have natural resources and you take it out of your country to refine and import back to your country for use, refineries should have been fixed first then subsidy removal follows.

Will you borrow Nigeria the money to fix the refinery…did you not see the financial account release by the CBN…Nigeria is broke!!!!!!..
If we had continued paying subsidies..we won’t be able to pay salaries or we would just keep printing money to pay salaries..
Come to think of it..who are the real beneficiaries of this subsidy self??…people who are rich enough to buy a car..if you can buy a car then you should be able to buy fuel at whatever price..

SemperFid:


And you are

bwahaha....i knew it....typical igbo behavior....
that una,atleast am not as bad as you,mentality una have....

thats why your region is a joke today in africa....

Tinubu has no plan on this subsidy removal because he doesn't understand the system.

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Rubbish talk. Same refineries that APC during buhari's tenure spent billions of dollars on maintenance?

Bebigiby1:
You said "Because for many years, under the guise of subsidy, we were selling fuel at a loss, and paying a subsidy to cover the loss...which it could never do adequately. That led to the refineries running down, and then we became an importer...." Government subsidies can be seen as economic packages deployed to stabilize or grow critical sectors of a nation's economy. When you say "we were selling fuel at a loss...." are you referring to oil marketers or government? One major reason why subsidy was introduced was because of the importation of fuel due to our local refineries not working.... What led to the current state of our refineries was corruption and lack of will by those in government to fix the refineries and not subsidy. If the government was committed to fixing the old refineries or building a new one Nigeria won't be in the mess we are in today. The truth is that the status quo promoted corruption in the system which enriched many in government over the years.

Well, ye are right about subsides, but the problem is, in sane countries, they are paid for by taxes...not from oil income (unless you are Libya or Saudi that has a low enough population to swing it).

Also, subsides in most sane countries are in the form of tax breaks to reduce the cost of production...not the thing we do here where we force the market to sell below production cost, and pay the difference, which rises once costs of production rises.

Doing that for over 40 years made us run massive deficits, massive loans to cover the deficit, and wrecked our refineries. To say nothing of funding massive corruption.

You said "But Nigerians kept saying no to subsidy removal, encouraged by people like Tinubu who is in power now. And right now, we are in so much of debt that we cannot pay for subsidies anymore. Not without going into even larger debt. Not without running out of money in the next 5 years...." If Nigerian government had borrowed over the years to fix the refineries or build ones we would've paid back the loan by now and won't be in debt.... I will say the fuel subsidy remains one major program Nigerians gained from the corrupt government since 1999.... so it was right that Nigerians said no to subsidy removal.... a responsible government should've made sure that our local refineries were working before removing the fuel subsidy if it must be removed..... I will say again that government subsidy is not a bad thing as it exists to stabilize key sectors of a nation's economy.....

It is easy to borrow for refineries...but then the refineries have to make a profit so that the loans can be paid back.

And that is achieved when subsidy is removed and the market is allowed to make a profit.

(Which is why NNPC is now rushing to fix its refineries right now. PH would be back, according to them, by the end of the year, Kaduna by the middle of next year).

You said "You don't have to like it. I don't. But for me it is either we suffer a lot now, or we get ten to twenty times what we suffer now in a few years...where the bank would be telling you you cannot withdraw money because there is no money...." Unfortunately this corrupt APC government now led by an illegitimate president who's policies and that of Buhari since 2015 are instrumental to the devastating economic realities we are facing today can't be trusted to sanitize the system and bring urgent reforms to improve the economy....

Well, Atiku and Obi said they would remove subsides. I happen to agree with them. As did every other candidate except Sowore.

(Don't bring Obi's quote about partial removal of subsides...because that in essence admits that Buhari's partial removals were right.).

helinues:
Oil marketers are one of the problems we have in Nigeria. They are just too selfish with everything

Blame anybody but your Tinubu.
You're a disgrace

youngsahito:
Tinubu has no plan on this subsidy removal because he doesn't understand the system.

subsidy was a bad idea from the start....

not a bad idea per se....
but with greedy people it will become very expensive....

no matter what goverment tried,the amount kept on risin and risin....
nigerians dont care to get money through corrupt ways....

igbos are a good example....

sammirano:


Believe this and you will believe anything. Having a working refinery should split the price by at least 50%

Well, a working refineriy has to be properly maintained, the workers have to be paid at competitive rates so that they do not jakpa (yes, oil workers too jakpa. For decades even). ...and the transport costs, taxes, and so forth have to be paid. And the refinery also needs upgrading...and Monsueir the owner needs money to build new refineries self. To say nothing of the loans taken that need to be paid back with interest .

And the people selling crude are not going to sell below international price. They too have to pay taxes, maintenance costs, upgrades, and competitive wages...because drilling too is capital extensive.

Yep, fuel would still be expensive

Make prayer kill you there. Idiot!

Holla911:


How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.