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Nairaland Forum / Nairaland / General / Politics / Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly (8960 Views)
Civil Servants Demand N907,000 Minimum Wage, Give Reasons / Rising Crude Price Pushes Petrol Subsidy To ₦16 Billion Per Day / Kyari: FG Will Divert ₦457 Billion Petrol Subsidy To Other Sectors (2) (3) (4)
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Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by nairalanda1(m): 1:55pm On Feb 15 |
RepoMan007: ANd both would eat up our income and wreck it. Corruption needs to be fought...but subsidy has been a big reason why we have huge deficits in the budget, which have to be filled with loans, and is why we are ironically in the situation were debt eats most of our income. P.S You still do not realize that you were very abusive to me most of the time, and I ask that you apologise for that. Abusing others does not make you a mature man, it makes you sound like a child. If you were older than me, I won;t have much respect for you. If you were younger, I would even rightly disregard you. You acted and behaved badly towards me on this site. Either you apologise before we can continue, or I simply ignore you. Thanks. You are free to laugh at me, and disregard this message, and I am not going to take corrections from you because you are in the wrong, and if you have a conscience, you know it. Good afternoon. (FIN). |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by seborrhic: 2:20pm On Feb 15 |
nairalanda1:Rather Nigerians cannot afford market reflective fuel price.No Nation can afford market reflective fuel price if as a middle class earner with a car,you have to use half of your salary to just fill your tank that would last you for just a week or as a minimum wage earner your salary,untouched cannot transport you through half of the month to your place of work. The American cannot afford it,the Japanese,German,Chinese and English cannot yesterday,today and tomorrow. The issue is that our earning/purchasing power of the average Nigerian is not just low,but is unsurvivable on. 1 Like |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by nairalanda1(m): 2:23pm On Feb 15 |
seborrhic: True, but on the other hand, making fuel cheap is one of the reasons why we have a huge debt profile, and issues with raising income right now. All those countries you mentoned also pay high taxes and have diversified economies, which is why they can to some extent afford subsides, and even then fuel can be expensive (UK even puts tax on top of the thing). Nigeria does not even earn enough from taxes to fund a subsidy adequately. OIl money is not enough. The corruption that our leaders do is even awful, and shows insensitivty self. Yet, no matter what we do, neither we nor any of the countries can do anything about the cost of fuel. |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by depure(m): 2:32pm On Feb 15 |
femisplash:English too much |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by seborrhic: 2:47pm On Feb 15 |
nairalanda1:Oga,stop looking at fuel price in isolation. A gallon of fuel(4litres,$3.5) is about 0.25% of the average American,Westerner or Chinese income.In Nigeria it is 4% or 20 times what those people pay compared to income! If the Nigerian is earning 1 million instead of 100k,he can afford to buy fuel at market reflective 6000-8000/galore and meet up with other basic needs 2 Likes 1 Share |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by DARLINGTON869(m): 3:06pm On Feb 15 |
Him for remove the subsidy na. Shey him wan form jagaban. |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by nairalanda1(m): 3:07pm On Feb 15 |
seborrhic: I am not looking at fuel price in isolation, I am observing that it has an impact on our overall income as a whole. We do not earn as the Americans, Chinese or so forth, so we don't have the income to subsidise. It is a harsh truth, but our failures to diversify and go industrial and improve tax collection is why we are in the situation we are in Any more subsides, and we would pay for it in debt. Heavily. 1 Like |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by criuze(m): 3:35pm On Feb 15 |
Surviving each day in Nigeria is an absolute miracle 1 Like |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by Uncletony(m): 3:51pm On Feb 15 |
Bobo Chicago |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by IbeOkehie: 4:43pm On Feb 15 |
criuze: Go to UK or USA and you will see real wahala. Nigeria is blessed. Good Luck to UK. |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by malali: 4:58pm On Feb 15 |
nairalanda1: If they sell it at 1000naira there would be a revolution in Nigeria. |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by Growing(m): 5:29pm On Feb 15 |
"There is subsidy." "There is no subsidy." Are they intentionally sowing deception? 1 Like |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by marenkurz: 6:27pm On Feb 15 |
Whether I'm a fan or not, we can both agree he is the president until 2027. You can't do anything about it, except of course death or assassination. Seat down, be humble!!! Sicklebear28: |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by Elxandre(m): 7:42pm On Feb 15 |
nairalanda1:It is not "1000" in Ghana. That's a simplistic way to view it when the problem is simply our exchange rate. If $1 was 500 Naira, petrol would be under 500 naira. Our crazy exchange rate is the issue not the subsidy per say. |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by nairalanda1(m): 8:35pm On Feb 15 |
Elxandre: Maybe, but one dollar is not 500 naira now. We are in a right tight spot now. I blame the government, but it does not make things better instantly |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by jojothaiv(m): 11:14pm On Feb 15 |
Nigeria is an exhausting topic... |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by criuze(m): 11:54am On Feb 16 |
IbeOkehie: Not sure it is so for their citizens In Nigeria the people live in every day hell |
Re: Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by ivandragon: 2:47pm On Feb 18 |
If the root causes of what made subsidy unsustainable is not tackled, nothing will work right. In the first place, there is no way nigeria uses 50m litres of pms daily. Is it every day people fill up thier car tanks? That is one area that needs to be tackled. Check the security agents/agencies that extort the tanker drivers. Ensure roads are motorable. Improve the transport system. Create rail tracks specially designed for haulage between major towns. Open a separate and well monitored fx window for pms importers. It can still be used for those who buy from dangote. Eliminate unnecessary charges in the distribution line. Beef up border security to check smuggling and other criminal activities. Encourage modular refineries since the FG can't get its own refineries to work. |
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