HeeBraHim2:


What you wrote in unverifiable, but I love the fact that you include Lagos in your story.

😂

That alone prove some point .. meanwhile Anambra cannot survive without the federal government allocation.

RepoMan007:

The wailing losers have forgotten this. They assume any negative trend can always be used to promote their candidate at the expense of whoever is there now.

RepoMan007:

The wailing losers have forgotten this. They assume any negative trend can always be used to promote their candidate at the expense of whoever is there now.

RepoMan007:

The wailing losers have forgotten this. They assume any negative trend can always be used to promote their candidate at the expense of whoever is there now.

HeeBraHim2:


What you wrote in unverifiable, but I love the fact that you include Lagos in your story.

😂

That alone prove some point .. meanwhile Anambra cannot survive without the federal government allocation.

RepoMan007:

The wailing losers have forgotten this. They assume any negative trend can always be used to promote their candidate at the expense of whoever is there now.

RepoMan007:
Because of this tiny comment you quote the whole article? Use your brain oga.

nairalanda1:


That is the problem with the article.

Mr Kperoogi, like most Nigerians believes that subsides are essential for our economic growth. Well, we tried subsides for over 40 years, and our economy has not grown as it should. Unless he wants to suddenly label all our past NIgerian leaders, the ones he blasted inclusive, as good leaders.

The problem with the subsidy wasn't even the corruption. It was the fact that we were running out of money to maintain fuel below N200 , talkless of below N100 even. It was getting to a point where our debt servicing was above 90% of our revenue.

But people like Kperoogi, and most Nigerians, including here on this site, are in denial. They want subsidy to be kept, and all they believe is that if we eliminate corruption, it would be ok.

Well, it won't. SO long as fuel consumption, production cost, increase, it means that government would be spending more and more and more money on subsides. TO the point that our debt would eat all our earnings, and grow larger than our earnings. Then the economy collapses.

That is why over the years, there have been partial removal of subsides, including by this admin. The problem is, the whole subsidy thing has discouraged domestic refining. And now we are about to have a domestic refinery...and subsidy has not yet been removed.

NIger, GHana, and many African countries have working refineries and no subsidies.

THe thing is, subsidy has to go. The annoying thing is that supporting subsidy removal means in the mind of Kperogi and most NIgerians that you are a supporter of the corn, or a tinubu supporter. Pardon. I no dey support APC. Or any other big party. But when I hear that our debt was , until this latest partial removal, eating over 90% of our revenue, what else should I support? Subsidies remaining, and a disaster happening? Or a total removal, and at least some hope we survive long enough for some sort of diversification to kick in (I don't trust that this government is even serious about it self).

Supporting subsidy removal does not mean you support tinubu, IMF, OBi, atiku, gej, buhari, obasanjo, IBB, et. It means you support NIgeria not being like Sri Lanka down the road, where we have no money, and are at the mercy of IMF . INfact, we are already there.

Venezuela has subsidsed fuel for over 60 years. See where they are. Dead broke.

HeeBraHim2:


What you wrote in unverifiable, but I love the fact that you include Lagos in your story.

😂

That alone prove some point .. meanwhile Anambra cannot survive without the federal government allocation.

nairalanda1:


That is the problem with the article.

Mr Kperoogi, like most Nigerians believes that subsides are essential for our economic growth. Well, we tried subsides for over 40 years, and our economy has not grown as it should. Unless he wants to suddenly label all our past NIgerian leaders, the ones he blasted inclusive, as good leaders.

The problem with the subsidy wasn't even the corruption. It was the fact that we were running out of money to maintain fuel below N200 , talkless of below N100 even. It was getting to a point where our debt servicing was above 90% of our revenue.

But people like Kperoogi, and most Nigerians, including here on this site, are in denial. They want subsidy to be kept, and all they believe is that if we eliminate corruption, it would be ok.

Well, it won't. SO long as fuel consumption, production cost, increase, it means that government would be spending more and more and more money on subsides. TO the point that our debt would eat all our earnings, and grow larger than our earnings. Then the economy collapses.

That is why over the years, there have been partial removal of subsides, including by this admin. The problem is, the whole subsidy thing has discouraged domestic refining. And now we are about to have a domestic refinery...and subsidy has not yet been removed.

NIger, GHana, and many African countries have working refineries and no subsidies.

THe thing is, subsidy has to go. The annoying thing is that supporting subsidy removal means in the mind of Kperogi and most NIgerians that you are a supporter of the corn, or a tinubu supporter. Pardon. I no dey support APC. Or any other big party. But when I hear that our debt was , until this latest partial removal, eating over 90% of our revenue, what else should I support? Subsidies remaining, and a disaster happening? Or a total removal, and at least some hope we survive long enough for some sort of diversification to kick in (I don't trust that this government is even serious about it self).

Supporting subsidy removal does not mean you support tinubu, IMF, OBi, atiku, gej, buhari, obasanjo, IBB, et. It means you support NIgeria not being like Sri Lanka down the road, where we have no money, and are at the mercy of IMF . INfact, we are already there.

Venezuela has subsidsed fuel for over 60 years. See where they are. Dead broke.

rejoice4eva:
Why trying to blame Obi for a Tinubu's failure?......Why shifting responsibility? If the other way round, will Obi get the credit.
Let us call a spade a spade. Hypocrisy cannot get us anywhere.
Tinubu and his cohort failed Nigeria and they should take full responsibility

RepoMan007:
Because of this tiny comment you quote the whole article? Use your brain oga.

The idea that petrol subsidies had to go because they were riddled with corruption and that they consumed a disproportionate share of our national budget is a mere propagandistic cop-out...

Fiscus105:



........abd who told u subsidy has gone on petrol? How much is diesel and kerosene compare it petrol.

You only succeeded in writing long epistle but full of fallacy.


With the policies that Tinubu embarked upon, the economy will destroy without redemption in his hands.

ReubenE:

You are still parroting this your angst with subsidy. Thought you abandoned it after our last dialogue.
You should be asking yourself why 90% of "our oyel" money goes into debt servicing. It is so because those loans were not used for anything meaningful but looted. If those loans were self servicing, you'll not be talking about 90%

And what's your obsession with the narrative that Nigeria does not have money. I'm beginning to think you are a politician directly or indirectly.
Senators, Reps, Presidency, and government at lower levels budget billions for frivolities and you still believe Nigeria does not have money. It is absurd that it is what affects poor people that y'all always remember that Nigeria does not have money.

All your other points, I need not address them as we've been there before.

[b]The current state of affairs isn’t unavoidable. It’s the predictable consequence of the pigheaded pursuit of a ruinous policy of subsidy removal from petrol, the lifeblood of Nigeria. I sounded an early warning about this a month before Tinubu was inaugurated.

But it was always obvious to anyone with even a halfway functioning brain that removing petrol subsidies in a weak, oil-producing economy that is organically petrol dependent, that has no well-developed public transportation system, that has weak infrastructures, and that is the poverty capital of the world would trigger infernal anguish on the vast majority of the people and tank the economy to the ground.

I came of age during General Ibrahim Babangida’s regime. IBB started the so-called structural adjustment programs (removal of subsidies, devaluation of the naira, mass retrenchment, etc.), which inaugurated Nigeria’s descent into the abyss. I heard the exact same things the current government is spouting during IBB’s time: that it would get worse before it got better, that after the birth pangs a big bouncing baby would be born, that there was delayed gratification awaiting us if only we could be a little more patient
[/b]

The truth is that we have no original, independent thinkers among people who make or influence economic policies in Nigeria. They are all hopelessly mindless parrots of ill-comprehended economic prescriptions of the Bretton Woods institutions. They do not have the cognitive and intellectual sophistication to transcend what I call derivative or regurgitative knowledge.

IfnobeGod20:

I hope you will agree with me that what we call subsidy is the cost of export of the crude oil and the landing cost of the refined oil?

IfnobeGod20:

I hope you will agree with me that what we call subsidy is the cost of export of the crude oil and the landing cost of the refined oil?
If the above is true. Then, what stops the government from revamping the dying refineries and make them work optimally. I think that will naturally take away the export cost and the landing cost. We are just chasing shadows, thinking we are doing the right thing. Every successive governments refused to revamped the refineries and make them functional. The question is, why do they find it difficult to revamp the refineries but instead take pleasure to go and refine the crude oil outside. No matter how, there will be little gap in price of the refined oil refined locally. The idea that there will be no difference is a big lie from the pit of hell. Even if the sales benchmark is ₦500 and the production cost is ₦350. There would be a gain of say ₦150 for the country.

Meanwhile, that Atiku, Tinubu and Obi says they would remove subsidy, that doesn't mean all of them would follow same pattern to remove it. Aside from Obi, he was the only one that explained what he will do immediately he removed it. He said, he will fight the corruption in the oil industry, empower modular refineries and revamp the existing refineries while the rest just say they would remove and never explain what they would do after removing it.

ogododo:


https://www.farooqkperogi.com/2024/02/tinubu-nigeria-is-sinking-and-streets.html

jmoore:
I find it ridiculous when some folks keep repeating 'Obi also said he will remove subsidy and float the forex'.

There is a difference between words and actions. One might change plans when faced with the negative impacts that may occur.

It is ridiculous to cherrypick the one that suits you. Why didn't Kperogi say anything about how Obi promised to fight insecurity if elected? Tinubu, Obi and Atiku promised to fight insecurity. Why is Tinubu not implementing the fight? Terrorists are doing promo. Kperogi should channel his criticism only on the one elected.

HeeBraHim2:


What you wrote in unverifiable, but I love the fact that you include Lagos in your story.

That alone prove some point .. meanwhile Anambra cannot survive without the federal government allocation.

RepoMan007:
Because of this tiny comment you quote the whole article? Use your brain oga.

jmoore:
I find it ridiculous when some folks keep repeating 'Obi also said he will remove subsidy and float the forex'.

There is a difference between words and actions. One might change plans when faced with the negative impacts that may occur.

It is ridiculous to cherrypick the one that suits you. Why didn't Kperogi say anything about how Obi promised to fight insecurity if elected? Tinubu, Obi and Atiku promised to fight insecurity. Why is Tinubu not implementing the fight? Terrorists are doing promo. Kperogi should channel his criticism only on the one elected.

Yelight:


Are you taking him serious? You should know they all know their articles cannot fly if Peter Obi's name don't appear in them.
Obi said he will remove subsidy but not all at once, 50% first then use the proceed to improve the economy, study it and then the remaining 50%.

RepoMan007:

The wailing losers have forgotten this. They assume any negative trend can always be used to promote their candidate at the expense of whoever is there now.

Agboriotejoye:


Will nairalanda1 agree


JagabanB will say Kperoogi is hating the political class because they are smarter than him