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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers (10332 Views)
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Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 10:32pm On Jul 23 |
Choiceone1: Yes u are right but what am telling you is that even if he didn't remove it from onset Nigerian may have collapsed because we will run out of fund . Don't forget petrol pump price is a global market with a global price . So it's difficult or not always possible to sell at any amount and that's why they are aging the rest 400 per liter 🤔 which is d logical subsidy . With over 700b per month so meaning if subsidy is on then it's going to be over 2trn per month 😢😭 Subsiding fuel from onset in Nigeria has caused a lot of mos concept meaning if subsidy no dey before at all since 1990 then till date we should know d price of things to be normal. Goto UK and IS and co there pump price is over 2000 and 1 bottle of coke is over 1700 But Nigeria here subsidy dey make use buy am 100 and yet we Wil blame and cause bad government 🤔🤔🤔🤔 Not knowing the government are even doing us good to make life easier for us . Please don't argue blindly just try to verify things 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 10:33pm On Jul 23 |
RoyalUc: Don't worry let him remove all d subsidy then we can buy fuel at 1170 per liter then u will understand what am saying maybe d transportation won't be times 5 of the current price and price of food stuffs and commodities too 😊 |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 10:37pm On Jul 23 |
tishbite42: U are correct bro . Petrol is a global market and not a market u can sell at any price .. When Johnathan was there even Buhari d pump price wasn't as high as this . Then removing subsidy too is a way to develop d nation to have more funds but the global pump price high again to 1170 but we are buying at 600 Now imagine if all d subsidy was gone meaning we are going to be buying fuel for 1170 🤔 Then d price of food transportation etc will be times 5 of what we are buying or paying now 😢 Petrol is just global u can ask or make findings please 🥺 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by DaddyCoool: 10:51pm On Jul 23 |
Blazetrailer: This is actually ridiculous. You keep quoting people analyzing the EFFECTS of the floating. OK, here is a simple question that'll demonstrate to you what a genius you are: If Tinubu had come out and said the Naira was overvalued and that they would "permanently" peg it at 1.5K to the $, to be reviewed every 3 years. WHAT WOULD YOU CALL THAT?? Now run along and stop disturbing my peace! |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by NoToPile: 11:07pm On Jul 23 |
ajadematanle: Lool and lool. The bolded is a very valid question though but then it's just a matter of time let's see how long govt can afford to pay the difference. |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by searchlight: 11:49pm On Jul 23 |
malali:Zombie spotted 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by malali: 11:53pm On Jul 23 |
searchlight: We are praying for you. Get well soon. |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by searchlight: 12:08am On Jul 24 |
malali:Pray for your president and the ZOO economy. You need that more. |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Choiceone1: 12:18am On Jul 24 |
Tayorshd87:. The mistake u are making is Tinubu that made to enter #700b because he float our naira |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Blazetrailer: 1:22am On Jul 24 |
You are a simpleton. I now know why a corrupt human being with shadowy background and criminal past found his way to becoming the President of you people in that country. I initially wanted to ignore you but remembering that there may be other dim-witted and half educated buffoons who may be reading this and think you are making any reasonable point. Now listen, there is no thin line between full floating of a currency and regulating it. Its either its fully floated and the Central bank only plays a regulatory role or they still get involved in fixing the rates somehow. You admitted below that you were not referring to a full floating of the naira, so what is it then?? Partial floating?? You started this by saying naira was floated and after giving you the markers of a floated currency, you changed and stated that you were not talking about fully floated currency. So what were you talking about ![]() Your stupid argument is that since the President does not announce a particular rate(as if rates had always been announced by the Presidents previously), then it is floated. Daft!! It akin to those who said since Tinubu announced subsidy was over, so there was no subsidy again. Only simpletons reason like this. Do you see the Bank of England, Federal Reserve in the US, Bank of Canada or Bank of Australia take some monies from their foreign reserves and sell at a particular rate(to which nobody know how it was determined) to some set of people while others buy at a different rate?? Do you see the Bank of England, Federal Reserve in the US, Bank of Canada or Bank of Australia compel their commercial Banks to deposit their foreign currency with them?? Have you ever been informed by these aforementioned banks that there was an error in the excel sheet they used in calculating the exchange rate as such the rates they were using before was lower and incorrect?? Naira was devalued. Finish!! IMF/World Bank had called this out clearly in their March 2024 report and stated that the currency was still not floated and government was still subsiding imports. The link below should awaken your dead gray matter, if at all you had any. The fact that CBN does not announce official exchange rate does not make the naira floated. Stop reasoning like a simpleton!!! I cant help you further than this, my brother. https://www.focus-economics.com/countries/nigeria/news/exchange-rate/central-bank-devalues-naira-again/ DaddyCoool: |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by tishbite42: 2:10am On Jul 24 |
Tayorshd87:Wow Nice defence So, you knew all these things and still protested against Jonathan 😂😂😂😂😂 Well, Nigerians can see your hypocrisy Continue |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by DaddyCoool: 2:15am On Jul 24 |
Blazetrailer: Guy what is your problem?? How can it be so hard for you to grasp such simple a concept? I started this by defining for you what is meant by float! That should have been the end of the discussion. Instead you went on writing rampage, writing non siquitor long epistles! I'll let these folks below educate you further
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Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Blazetrailer: 2:52am On Jul 24 |
LOL!!! I can't stop laughing. This guy na waste of time abeg. Imagine the level of buffoonery!!! I thought this idiot had any credible and independent source of his spurious stupidity....seeing the personal views and articles on pages of LinkedIn he attached below just corroborated what I had inkled all along. This buffoon does not have the capacity of reading and making an objective conclusion from what he has read. He relies on on the thoughts or personal opinions ofnpeople expressed on the LinkedIn pages. Chikena. Case closed. Lobatan!!! They said it is floated...so it is floated....without understanding first, the true meaning of floating. Omashey o!! No wonder criminals like akpabio and uxzor kalu are the ones making rules for them and presided by a known drug bag man, when they reason like this. Guy, rest...stop disgracing yourself and your lineage further online abeg! DaddyCoool: |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by malali: 4:31am On Jul 24 |
searchlight: Smegma |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by DaddyCoool: 6:56am On Jul 24 |
Blazetrailer: You can insult me all you want as long as you understand that the Nigeria govt FLOATED the Naira, which led to sharp depreciation of the currency. Any later action of the govt was to prevent further depreciation, and does not mean the Naira was not floated
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Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 9:34am On Jul 24 |
tishbite42: Am not defending am only clarifying . Look at Kenya morrocco and other countries experiencing hardship too including people in Canada , UK US u can ask do u want to tell me ti mnubu is also their president over there ![]() If we hate somebody doesnt mean we should justify what is right or wrong about that person. Am not an APC supporter or rather like Tinubu but the situation on ground is not about who is d president that's what am telling u Let him announce total removal of subsidy then u Wil understand me better if pump price will be 1170. Then we can buy a coke like 1000 then and transport will be time 5 of current price . |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by tishbite42: 9:37am On Jul 24 |
Tayorshd87:Gerrara here You peeps are disgusting Hypocritical fiends Karma is real You'll see it play out We're just watching on the sidelines 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 9:42am On Jul 24 |
Choiceone1: God bless you . He should have at least study the situation. Also try to remove for a month alone to see how things her while he will plan for alternatives. He was just too quick to speak 🙊 rubbish 😡 and causing problems till date |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Tayorshd87: 10:01am On Jul 24 |
tishbite42: What are u watching mtheeww We are in it together na since u don't have sense . So u mean they should subsidize all our resources till Jesus comes Abi 🤔 Na d government I blame for using subsidy to train us for over 40years . Pepsi that suppose to be 500 from onset we dey buy am 100 Now that they stopped it u keep blaming them. Even when d subsidy is on people we're still abusing the government. Nigerians are ingrate |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by tishbite42: 10:04am On Jul 24 |
Tayorshd87:Keep on playing the ostrich I'm happy with the way things are turning out Hope you typed this same epistle during Jonathan's time Hypocrite 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Choiceone1: 10:53am On Jul 24 |
Tayorshd87:. That's arrogance 1 Like |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by ibabz(m): 12:01pm On Jul 24 |
If truly that this government is paying this much for nonexistent subsidy and we are still buying fuel at N700 per liter, then welcome to mother of all scam. |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Blazetrailer: 12:14pm On Jul 24 |
Lol Oponu!! Hear yourself .....any later action from government was to prevent further depreciation " but its floated.... A new level of buffoonery. I'm done with you if you can't see you arr dancing in circles. Go online and type naira devaluation and you will see 1000 more articles from far more credicle sources including IMF Reuters,Bloomberg, World Economic Series The Economist,IMF on why what hapoend is called devaluation and not floating....instead of quoting all the nonsense personal opinions expressed on LinkedIn by your fellow dim-witted olodos DaddyCoool: |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by DaddyCoool: 3:02pm On Jul 24 |
Blazetrailer: I'll end this by recapping what you've already been taught. You go and learn the rest by yourself. 1. No country's currency is fully floated or fixed (see below). 2. Nigeria FLOATED her currency in June 2023, as promised by president Tinubu. 3. The effect of this "hands off" was depreciation of the Naira Now buzz off and stop wasting your time arguing nonsense!
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Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Blazetrailer: 4:12pm On Jul 24 |
Daddy Oponu, I am glad I have made you do a bit of a research. You have graduated from going online to quote LinkedIn pages of people. Please go further by educating your ilks around you that your government deliberately devalued the currency under the guise of floating, thinking it would attract foreign investors.....it has failed woefully. Like other stupid and thoughtless policies it cane up with, I see this govt clandelistinely reverse this and start backing the naira up with the foreign reserve once the pressure becomes unbearable for them, just like it surreptitiously returned the subsidy. Now go back and compare what is defined as floating and what your government did....im sure you will look at yourself in the mirror and cringe at your level of buffonery. Pls do further I need to stop here before I get polluted by the stain and ooze of your semimliteracy..... DaddyCoool: |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Gboss247(m): 4:17pm On Jul 24 |
DaddyCoool:Naira is managed with borrowed loans from IMF, World Bank, Afreximbank etc and not free floating as they claimed. |
Re: Nigeria’s Fuel Subsidy Payment Exceeds N700bn Monthly – Marketers by Gboss247(m): 4:20pm On Jul 24 |
TUTU147:Removing subsidy has nothing to do with functional refineries because NNPC was created by the government as nationalized organization to subsidized petroleum products to Nigeria. |
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