Omooba77:


https://dailytrust.com/fg-to-pay-n1-6trn-for-electricity-subsidy-in-2024/

Omooba77:


https://dailytrust.com/fg-to-pay-n1-6trn-for-electricity-subsidy-in-2024/

Nbote:
Which one b dis againo ooooooo. The same subsidy you people have removed time and time again by jacking up electricity tariffs?? Now we know subsidy is just a name these bunch of thieves use to steal Nigerians blind

Imka:
2022: FGN spent 120bn naira as subsidy on electricity


2023: FGN spent 600bn naira as subsidy on electricity


2024: FGN to spend 1.6 trillion as subsidy on electricity

2025 : FGN to spend N raised to power x. 😂

Omooba77:


https://dailytrust.com/fg-to-pay-n1-6trn-for-electricity-subsidy-in-2024/

nairalanda1:


The problem is, these subsides are why the sector cannot make enough of a profit to fix things.

Also, budgeting subsides is one thing, whether the subsides can cover the losses made by selling power below production cost, and by produiction cost rising over the year is another thing.

Remember, this is what government is paying for 2024, If cost of gas shoots up this year, the 1.6 trillion might not be enough to cover it. Also, oil prices may drop, and the money may not be there.

Finally, subsides are paid for by tax in developed countries, and are not given to everyone. In Nigeria, we pay for it from oil money, which from the word go is not enough for all of us, plus our tax to gdp is too low to pay for subsides.

obinna58:
It seems Nigeria can not just work, divide this country let everybody rest.

sherylbaky:
Exactly
No one wants their subsidy anymore, they should put money in circulation and stop these dubious activities.

Basicend:


You are a partaker of the govt bro. I can infer from your perspectives. Even on other points in this thread.

Raw truth is, you people don't have an idea of how extremely poor misappropriation of resources have made Nigerians become now.

A bottle.of Coke is N300, ordinary gala is N150 now. An average Nigerian cannot afford to buy a slice of bread on the road now.

The govt (esp. past and present) leaders have over milked it's people. It is very sad. Look, finding ways to make eat and make this people live so be it isn't priority.

The people you are defending, are siphoning millions of naira and dollars everyday into their private accounts. This is the stark truth. So your points are not accepted at all.

The tax receipts, how did they appropriate it.

The receipts from so called subsidy removal, how did they appropriate it?

omokab:
I don't know the meaning of this subsidy . The light we are not enjoy with high tariff is what subsidy will be paid for . The brought over 15k on monthly usage with epileptic power supply . To say the fact we don't consume up to 2k light in a for the month January in my area .

Imka:
2022: FGN spent 120bn naira as subsidy on electricity


2023: FGN spent 600bn naira as subsidy on electricity


2024: FGN to spend 1.6 trillion as subsidy on electricity

2025 : FGN to spend N raised to power x. 😂

Mansa6:


Oga!

No subsidy was totally removed from Electric power..

If it was,you will be paying something very close to the average international rates..

All you unambitious, retrograde Nigerians always looking for good service for cheap cost...

It doesn't work like that..

Go to the civilised world..you'll pay through your nose for public utilities..

And don't give me that crap about the service being optimum for 24hrs..we are coming from a bad place hence we need to "upgrade"..

If the service providers do not invest heavily in their infrastructure,you won't get good service..

And the service providers need a whole lot of money to do that .

It definitely can't be cheap or free as most of you would wish..

Basicend:


You are a partaker of the govt bro. I can infer from your perspectives. Even on other points in this thread.

Raw truth is, you people don't have an idea of how extremely poor misappropriation of resources have made Nigerians become now.

A bottle.of Coke is N300, ordinary gala is N150 now. An average Nigerian cannot afford to buy a slice of bread on the road now.

The govt (esp. past and present) leaders have over milked it's people. It is very sad. Look, finding ways to make eat and make this people live so be it isn't priority.

The people you are defending, are siphoning millions of naira and dollars everyday into their private accounts. This is the stark truth. So your points are not accepted at all.

The tax receipts, how did they appropriate it.

The receipts from so called subsidy removal, how did they appropriate it?

ericmor:


It is good to just ignore such person comment.

If all what the person said is true, why are we paying urge for electricity that has been subsidised and yet no light, everything is been paid for by us including the transformer.

And also, how do they become a billionaire when they get to the government office

if they are not making money.

Some lies are just too clear to see but some people will still have the guts to come out and defend the corruption. Well, not their fault anyway, it is the people that are weak to face them and fight for their right I will blame

Omooba77:


https://dailytrust.com/fg-to-pay-n1-6trn-for-electricity-subsidy-in-2024/

nairalanda1:


No, I just believe that businesses should be free to charge whatever prices they want to charge, because that is the only way they can make enough money to fix things. That includes the power sector. It does not mean i support the government, it just means I support plain capitalism

My reasons for doing so is simple. We allow capitalism, we end up with a prosperous economic class, that can be taxed for the benefit of the poor class.

I do not work for the government, and I personally regard our entire political class as exceddingly corrupt. It is just that army rule was the same thing with guns and authotarian rule, that's why I don't support a coup.





Actually I do. But at the same time, I also regard the government has having misrun the economy by not diversifying the economy, and by not making us an exporter of manufactured goods and servicies. That is the reason why we are backward...corruption makes a bad thing worse, and is a symptom of inefficent rule. Not the cause



Yes, and that has been said since independence. Nigerians have always been too 'poor' to afford things. Even when that coke was 70 kobo.



So because the government has milked its people, it should force the power sector to

1.Sell below the production cost of power

2. Also, pay a subsidy that does not cover the loss

3.Reduce gas producton by forcing years of subsides on the petroleum sector, which make it unprofitable to among other things produce more gas for power indirectly...

Bad policy replaced with more bad policy.


I am not defending anyone in government, least of all this APC government.

I merely state that government should at the end of the day let the power sector charge the price it needs to make a profit to pay for improvements....and at the same time, this means government would no longer need to pay any subsides.

That you call me a government supporter shows you have missed that point.



Yes, there is corruption. But tax does not account for up to 20% of our nation's income. Tax to gdp is lower than even Ghana and SA. Finally, 70% of Nigerians who are taxable do not pay income tax to state and federal governments (as at 2019).

Corruption makes a bad thing worse.







First, they have not removed the subsidy completely

Second, subsidy removal is why government, over the years (because this is not the first time)...can afford to pay off debts (incurred by being an oil dependent country, which means oil prices never stay where they would favour us, which means we have to take loans...debt).....and pay salaries. Because subsidy grows as cost of production grows,

In 2012, it was N34 per liter to keep fuel at N65 per liter. Assuming fuel still cost N65 per liter today, it would have cost N650 or more per liter to keep it that way as at October 2023. If not for partial removal, that cost would have eaten our budget and would have made us in essence dependent on loans and on the mercy of IMF in ways that would make Buhari's loan mania and tinubu loan mania look like chicken change.


Good am.

Hardcore11:
oga keep brain washing yourself

nairalanda1:
It is what they pay to compensate the power sector for being made to charge prices below the cost price, and for having a large percentage of customers stealing power.

The problem is, with rising costs, it usually isn't enough

Government does not want to be realistic, and allow the power sector set its prices, because if they did, they would be voted out in 2027, so they sacrifice good economic polices on the altar of political ambition.

MadamExcellency:


Is like I will have to enroll you in our business and management school.

Greed is the fundamental principle of capitalism. There are essential commodities like bread, sugar, electricity, water and such likes that require government interventions. The divide between the rich and poor shouldn't be allowed to increase astronomically without policies to mitigate the worse.

The discos are after the lumpsom from subsidy. They are making profit but marginal and will never agree.

Omooba77:


https://dailytrust.com/fg-to-pay-n1-6trn-for-electricity-subsidy-in-2024/

Nbote:
Which one b dis againo ooooooo. The same subsidy you people have removed time and time again by jacking up electricity tariffs?? Now we know subsidy is just a name these bunch of thieves use to steal Nigerians blind



In as much as I am tempted to highlight the foolishness in your comment, I'll focus more on highlighting the crass ignorance of your statement. Some of your try to sound wise and end up exposing the emptiness in your heads. Show me one of the civilized worlds where I have to pay for transformers purchase and maintenance, pay for installation infrastructure including cables and even prepaid meters and still pay for the units. The nauseating attitude of comparing developed parts of the world with these parts shows just how completely uninformed some of you are when trying to sound politically correct

MadamExcellency:


Is like I will have to enroll you in our business and management school.

Greed is the fundamental principle of capitalism. There are essential commodities like bread, sugar, electricity, water and such likes that require government interventions. The divide between the rich and poor shouldn't be allowed to increase astronomically without policies to mitigate the worse.

The discos are after the lumpsom from subsidy. They are making profit but marginal and will never agree.

obesse:
Oya Nairalanda1, E dey favour you and your cronies?