The best time subsidy should have been removed is during GEJ era not during times of high inflation and when naira is getting undervalued.

What will be their gain if they make it right

wittywriter:
I'm bemused at how BAT's administration is playing out.
Howbeit $1 is exceeding #1k so if you desire to live above your bills and you are internet savvy then get an online earning that comes as $ ...smart peeps of online community now save in $ as Nigerians.

They remained as FG...pun intended.

Wittyness.

What pun was intended?

The problem with the comment of the expert is everyone assumes that working refinery=cheap fuel prices

The damm refinery still has to pay its way through, and all that costs money.

Also, subsidy had to go. The issue is, the cash was no longer available for subsides without us taking more and more loans.

Like I always say, subsidy should have gone since 2012. If not since 1993 self.

Nothing as factual as that statement.

The manner at which Lamidi Amoda alias Tinubu did it was stupid. He did it promptly to show power. I have the power to do it, they all thought I was joking when I did it.

The marketers used the opportunity to quickly decide a price.

Reasonably, he should have settle in office first, meet with the proper stake holders, the body, ministries involve to compromise on a reasonable conclusion, decides the new price, layout ways to curb the effects, and establish a promising improved solutions.

Jonathan removed it properly, set the price from #65 to #100 or thereabouts.

The marketers/NNPCL used Tinubu bad decision, triple the price.

It was all very poorly implemented.

Some people do t se em to understand there was no money to fund the subsidy.

Nigerian should not have had any business to do with subsidy if our refineries were not grounded deliberately.

Alchemy528:
Carry you consolation report and go and rest abeg

sense should rest and allow idiocy take charge.

nairalanda1:
The problem with the comment of the expert is everyone assumes that working refinery=cheap fuel prices

The damm refinery still has to pay its way through, and all that costs money.

Also, subsidy had to go. The issue is, the cash was no longer available for subsides without us taking more and more loans.

Like I always say, subsidy should have gone since 2012. If not since 1993 self.

Stop talking opata(gibberish).
Working refinery will reduce need for forex to import fuel and thus strengthen the naira against other currencies used for import. It takes deeprooted stupidity to reply to your own assumptions across half dozen user accounts and still not realize it. Nobody is assuming working refinery will bring subsidy-level cheap fuel. It will eliminate cost of transportation to and fro foreign refineries as well as high labour cost. It will strengthen Naira by reducing forex needed to import diesel and petrol.

Oluwole economist when no know jack. You are like ChatGPT. Mere fact and near-zero reasoning.

They would soon tag this NECA boss an IPOB in charge of NECA affairs

RepoMan007:
Stop talking opata(gibberish).
Working refinery will reduce need for forex to import fuel and thus strengthen the naira against other currencies used for import. It takes deeprooted stupidity to reply to your own assumptions across half dozen user accounts and still not realize it. Nobody is assuming working refineert will bring subsidy level cheap fuel. It will eliminate cost of transportation to and fro foreign refineries as well as high labour cost. It will strengthen Naira by reducing forex needed to import diesel and petrol.

Oluwole economist when no know jack. You are like ChatGPT. Mere fact and near-zero reasoning.

Thank you and good night.

casualobserver:
Some people do t se em to understand there was no money to fund the subsidy.

But there is money for school feeding and conditional cash transfer?

nairalanda1:


May your gods , or if they be none, may your fortune favour you.

I won't trouble you again.

keep replying to assumptions inside your head. That will serve you better.

I said it... refinery is the solution to all this problems ... refinery alone can solve 70% of nigeria problems

RepoMan007:
keep replying to assumptions inside your head. That will serve you better.

May your life be forever blessed.

casualobserver:


How daft are you people?

Actually, I should be asking you that question but I'm way too matured for that.
Your position on the power sector and the petroleum sector has been proven to be shallow over time.

”What has happened now is that subsidy has been removed and when subsidy is removed, one of the things we should have done, with the benefit of hindsight, is to fix at least one of those refineries to create the buffer or a bridge for fuel prices.

”Because we did not do that, the issue of importation at the global market prices, came up and we have to pay at that price.

https://www.nairaland.com/7867093/47-companies-bid-world-banks

But of course, the only fact that matters is pwc report.

AbuTwins:
Where will the money to fund subsidy till a new refinery is built come from?

Everyone just won chuk mouth for subsidy matter!


It seems na to abuse the president be the new Osubidients normal now!

Program Block head,

This man is from your region.

DrGoodman:
Someone who's head has been condemned by cocaine can never get anything right, apart from forgery.

You too look like a junky

nairalanda1:


May your life be forever blessed.

and may your be blessed with ability to discern your assumptions from opinions of others.

AbuTwins:
Where will the money to fund subsidy till a new refinery is built come from?

Everyone just won chuk mouth for subsidy matter!


It seems na to abuse the president be the new Osubidients normal now!

Shey na your own brain you put for the subsidy matter?... let's be sensible, what is bad is bad, the man just made a simple point, something's should have been put in place before removing fuel subsidy, simple, I guess you're still under your parents roof and na dem dey feed you, that's why subsidy matter be like joke to you.

The same reason why they didn't abolish it since. So so so planning. Stop unending planning, and take action. That is what Emilokan Asiwaju Tinubu Jagaban just did

emorse:

Actually, I should be asking you that question but I'm way too matured for that.
Your position on the power sector and the petroleum sector has been proven to be shallow over time.


https://www.nairaland.com/7867093/47-companies-bid-world-banks

But of course, the only fact that matters is pwc report.

You may be mature but you are still daft. You can be mature and unintelligent. The money for subsidy over the last few years, where did it come from? We were borrowing…to the extent that 97% of our revenues was being used to service debt payments! So when you ask a daft question like “but we have money for cash transfer and school feeding”, it shows you are not only daft but you have your priorities wrong. Which is more important, subsidizing the guy in Ikoyi who has 10 gas guzzling jeeps or subsidizing the poor and most vulnerable especially young school children many of whom are lacking in proper nutrients at the very stage when their brains are forming to ensure they are properly fed and can learn and become productive members of the society?

1) money for subsidy was borrowed. We no longer borrow money to fund subsidy which means more of the revenue we get is available to the government. That money is now deployed to school feeding and cash transfer to mitigate the effects of subsidy removal and to more efficiently channel government spending. Perhaps if the government have spent money to endure you were properly fed as a school youth, you would have gotten the proper developmental nutrients at the critical development stage of your life, your brain would be better developed now that you are an adult and you would not be spewing trash exhibiting your daftness and low IQ.

I respect dissenting or different opinions so long as they are logical. I have no time and quite frankly get irritated by imbecility!!

casualobserver:


You may be mature but you are still daft. You can be mature and unintelligent. The money for subsidy over the last few years, where did it come from? We were borrowing…to the extent that 97% of our revenues was being used to service debt payments! So when you ask a daft question like but we have money for cash transfer and school feeding, it shows you are not only daft but you have your priorities wrong.

1) money for subsidy was borrowed. We no longer borrow money to fund subsidy which means more of the revenue we get is available to the government. That money is now deployed to school feeding and cash transfer to mitigate the effects of subsidy removal and to more efficiently channel government spending. Perhaps if the government have spent money to endure you were properly fed as a school youth, you would have gotten the proper developmental nutrients at the critical development stage of your life, your brain would be better developed now that you are an adult and you would not be spewing trash exhibiting your daftness and low IQ.

I respect dissenting or different opinions so long as they are logical. I have no time and quite frankly get irritated by imbecility!!

Indeed. What we do now is to pay subsidy with savings from subsidy. Makes a lot of sense.

You can lay as much insults as would lighten up your burden but you can't change facts bro. And you should know that I won't reciprocate because they don't quote nairaland during FEC meetings. We're only sharing opinions here

emorse:

Indeed. What we do now is to pay subsidy with savings from subsidy. Makes a lot of sense.

You can lay as much insults as would lighten up your burden but you can't change facts bro. And you should know that I won't reciprocate because they don't quote nairaland during FEC meetings. We're only sharing opinions here

What exactly is your point?

Again I say you are daft, we are still better overall despite the fact that the government is effectively still subsidizing petrol to some extent. Can you imagine how much we would have had to borrow to maintain the old petrol price at the current international price of oil per barreal?


Why are you people so daft? Perhaps because there was no school feeding programme when your brains was being developed.

grandstar:
Whether there is a working refinery on the ground or not, what difference does it make?

Whatever price the local refinery sells its petrol will reference the global petrol price.

It is like the argument that if a nation is self-sufficient in food production, the war against hunger is won.

That is a myth as the primary cause of hunger isn't a lack of food. It is a lack of money. As long as there's poverty, you'll always be hungry. The North, Nigeria's primary bread basket is the hunger capital of Nigeria due to crushing poverty there.

That's why in India, a country self-sufficient in food production and a massive exporter as well 45.3% of kids under 5 were underweight while

You were a deficient student. All you speculated are lies and out of reach to reality.

When we had food sufficiency in 1976 through 1983, we didn't harvest everything from the farm, we left some for less privileged. You can get food for free from a neighbour.

Food wasn't the concern then, hence there was security and crime was less common.

casualobserver:


What exactly is your point?

Again I say you are daft, we are still better overall despite the fact that the government is effectively still subsidizing petrol to some extent. Can you imagine how much we would have had to borrow to maintain the old petrol price at the current international price of oil per barreal?


Why are you people so daft? Perhaps because there was no school feeding programme when your brains was being developed.

My point is simple. People should not be made to suffer for the ineptitude of their leaders. Especially when the leaders have not been made to realise how inept they are.

How do you mean we're better off? Can you back that statement up with figures? Inflation hit 25.8% in August this year. Highest since 2005 and it's not showing any signs of slowing down. There's so much pressure on the naira as we speak. The CBN had to take a loan of $3bn. We're still waiting to see the effect the effect. There are a few other loans here and there.

Wouldn't it have been better to use these loans to subsidise production and encourage export to reduce the pressure on the naira? That's what the Chinese government does bro. It's a system that works.

MadamExcellency:


You were a deficient student. All you speculated are lies and out of reach to reality.

When we had food sufficiency in 1976 through 1983, we didn't harvest everything from the farm, we left some for less privileged. You can get food for free from a neighbour.

Food wasn't the concern then, hence there was security and crime was less common.

I entered my first secondary school in 1983. I can tell you categorically what you said here is wrong.

Nigeria was a massive net importer of food during this period.

The primary reason was the overvalued Naira. It was cheaper to import food that to grow it locally. It was during the oil boom era that Nigerians left the farms enmasse for the cities. Food production collapsed and that's why Obasanjo launched Operation Feed the Nation.
The Naira was simply too strong.

It was worsened in 1982 when the crude oil price collapsed. Because the Nigerian government refused to devalue the Naira, this artificially increased the price of locally produced food. I remember my dad buying Maggi cubes in England when he travelled saying it was cheaper there.

Nigerians fed best during the oil boom era despite the fact food production went down. The country was in money. Ghanians fled here in droves. All my teachers in in primary school in Ikeja were all Ghanians. My lesson teacher was Ghanaian.

This supports my argument. The primary cause of hunger is not a lack of food. It is actually a lack of money.

RepoMan007:
and may your be blessed with ability to discern your assumptions from opinions of others.

And may you never suffer lack, young one.