nairalanda1:


You guys should stop hoping for cheaper prices of everything. That is not how life is.

People want to be paid for doing the work they do, and that includes people working in the oil industry. And since subsidy has gone (officially)...that means that wages will now come directly from the money you pay to put oil in your car. Also, the equipment needed to bring you the oil has to be repaired and maintained, and the shareholders...from big man to small man, have to be paid. I haven't even mentioned the banks and their loans.

So, petrol is not going to come down. Infact, because petrol is now controlled by the market regarding pricing, people are rushing to set up refineries here...which is long term good news for our economy, especially jobs and so forth.

Only way petrol can come down is if there is an increase in production , via competiton, or if Dangote finishes paying off his loans. Or if government gives dangote a huge tax break .

Subsides over the years were never enough to give us cheap fuel...which is why we were borrowing to pay them eventually. And people like GEJ saw the light in 2012, but tinubu and buhari led Nigerians to unwisely say no. Until the debt rising eventually forced their hand in 2023.

If you want subsides, you do as they do in saner climes and donate half your annule income to the government as tax. Yes, that is how they do it in saner climes. And the subsides do not even go to everyone...it goes to the poorest of the poor. Not to every tom, dick and harry.

Listen and listen well, whatever improvement announced by the government or anyone that does not impact the citizenry positively is just an academic exercise; after all, what is governance without the welfare of the citizens? Let's stop reading books and come to tell stories. What benefit does higher oil production bring to the ordinary man on the street? That, to me is the most important question. Until the government begins to focus on how to improve the lives of the people they govern, we will stay here and read statistics about GDP growth, economic growth, and so on while the people are dying. We are tired of being told to have patience. Same thing Buhari told us and left after 8 years with nothing to show for it.

waveman2:
Ok this is the production capacity NNPCL and oil companies make us to believe while at the Christmas tree we should be producing about 6 million barrel per day.Nigeria oh my country.

6m bpd.....haba,even Saudi Arabia the largest oil exporter doesn't do that much.

qtx:

Listen and listen well, whatever improvement announced by the government or anyone that does not impact the citizenry positively is just an academic exercise; after all, what is governance without the welfare of the citizens? Let's stop reading books and come to tell stories. What benefit does higher oil production bring to the ordinary man on the street? That, to me is the most important question. Until the government begins to focus on how to improve the lives of the people they govern, we will stay here and read statistics about GDP growth, economic growth, and so on while the people are dying. We are tired of being told to have patience. Same thing Buhari told us and left after 8 years with nothing to show for it.

Yeah, and at the end, it costs money to pay for the impacts.

Our tax uptake...low. Has been for years.

Oil...cannot sustain 20 million , talkless of 200million

At the end of the day, na loan dem go take to make you happy.

Welcome to relaity.

IN saner climes, the kind of tax they pay, ehn...

Jagaban of Africa. He will pursue, overtake, and recover all. Next target 2 million barrels per day!

Doubting Thomas, ipob, and obi.goats can drink sniper

adicius:
Enemies of Nigeria, mostly from the yeast will wail and cry at this news, pity them 🤣😆😂.

people from west will cry more because they have no oil

9jatriot:
USD is now 1500, that means if you export an item for $1k at an exchange rate of 1500, you already 1.5 million naira, so try and be an exporter and be happy with the present exchange rate

Why should I think of myself alone when I am not a cluelessly selfish idiota

Will I buy petrol at N87 and everything else at the prices they were under PDP when dollar was just over N200?

Do you see how smart you sound?

edoyad:
Owerri – The All Progressives Congress (APC) presidential candidate, Gen. Muhammadu Buhari, on Monday said he would ensure that the Naira was equal to the dollar in value, if voted into office. Buhari stated this during the South-East presidential rally of the party at Dan Anyima Stadium, Owerri.

“It is sad that the value of the naira has dropped to more than N230 to one dollar; this does not speak well for the nation’s economy,’’ he said. He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected. Earlier, Gov Rochas Okorocha had urged APC supporters to vote for the party’s candidates at all levels, noting that a vote for Buhari without support to others at the state would amount to nothing. Okorocha said Buhari would address the problem of electricity, bring back the kidnapped Chibok girls and promote industrial growth. He said that Buhari was loved by the people in the region and urged them to elect him and other APC candidates during the March 28 and April 11 general elections. Former governor of Anambra, Mr Chinwoke Mbadinuju and former Minister of Education, Chinwe Obaji, were formally welcomed to the APC at the rally. The rally was attended by APC supporters from Abia, Ebonyi, Anambra, Enugu and Imo. (NAN)

Read more at: http://www.vanguardngr.com/2015/03/ill-make-naira-equal-in-value-to-dollar-says-buhari

How can all that over 100 million people think about is how to import How is one more person who learns to export not be a good thing.

If 50 million people in Nigeria become really productive and export products even each of them does $1k, the economy will get better and standard of living will improve, buy you are referring to an era where bad habits was being subsidized

anonimi:


Why should I think of myself alone when I am not a cluelessly selfish idiota

Will I buy petrol at N87 and everything else at the prices they were under PDP when dollar was just over N200?

Do you see how smart you sound?

nairalanda1:


Yeah, and at the end, it costs money to pay for the impacts.

Our tax uptake...low. Has been for years.

Oil...cannot sustain 20 million , talkless of 200million

At the end of the day, na loan dem go take to make you happy.

Welcome to relaity.

IN saner climes, the kind of tax they pay, ehn...

Can i ask you a question? How many barrels of petrol does the country consume per day or even month? Let me shock you, do you know even the government does not know? Lets start from there. There are a lot of transactions in this country that are not accounted for. Look at NNPC, have heard of the huge monies they keep declaring are not accounted for? Who told you Nigeria is broke? We are not. It is mismanagement. The so-called saner countries you keep referring to , do they involve in the quantum of corruption of taxpayers' moneis? who told you Nigerians aren't paying taxes or that the country is poor? Look i insist, that is not our problem. Our problem is mismanagement.Let the government fix that first.

qtx:

Can i ask you a question? How many barrels of petrol does the country consume per day or even month? Let me shock you, do you know even the government does not know? Lets start from there

.

The figures are known. Anything from between 50m-70million. Since subsidy went, it is around 40 million...largely because cost of petrol

And anyway, even if it was known, the issue with subsidy was simple. Difference between cost of production and subsidised prices which could be very wide enough to eat into government budgeting.

Then, 1.5 m bpd is not enough for a nation of 200 million. If we were 2 million, it would have made sense.

There are a lot of transactions in this country that are not accounted for. Look at NNPC, have heard of the huge monies they keep declaring are not accounted for?

That was under subsidy. Nowadays....NNPC is not only declaring a profit, but the abuses under subsidy are coming to light.

Who told you Nigeria is broke? We are not. It is mismanagement. The so-called saner ountries you keep referring to , do they involve inthe quantum of corruption of taxpayers' moneis?

Our budget is under 50 trillion naira. Our debt is higher than that. If that is not broke , what is.?

Also, our revenue is not enough for 200 million people. We should be earning in the hundreds of trillions of naira, not the paltry sums we earn.

Dutch disease.

(And don't start talking about potential riches. Child that is intelligent, yet does not study, will still fail exam).

who told you Nigerians aren't paying taxes or that the country is poor? Look i insist, that is not our problem. Our problem is mismanagement.Let the government fix that first.

Our tax to gdp is lower than that of Niger republique. About 70% of taxpaying Nigerians do not pay taxes to the federal and state governments.

nairalanda1:
.

The figures are known. Anything from between 50m-70million. Since subsidy went, it is around 40 million...largely because cost of petrol
Says who? You right? besides you see that you are not even sure.
And anyway, even if it was known, the issue with subsidy was simple. Difference between cost of production and subsidised prices which could be very wide enough to eat into government budgeting. Now that subsidy is gone, where are the proceeds?

Then, 1.5 m bpd is not enough for a nation of 200 million. If we were 2 million, it would have made sense.



That was under subsidy. Nowadays....NNPC is not only declaring a profit, but the abuses under subsidy are coming to light.


Our budget is under 50 trillion naira. Our debt is higher than that. If that is not broke , what is.? All other projects what have we done with them?

Also, our revenue is not enough for 200 million people. We should be earning in the hundreds of trillions of naira, not the paltry sums we earn.
How much is our revenue?
Dutch disease.

(And don't start talking about potential riches. Child that is intelligent, yet does not study, will still fail exam).

There are only two ways to increase revenue, its either cut your expenses or make more money. But in the case of Nigeria, we strive to make more money, but we can’t account for the one we make. We are going no where bro. Waste of energy and impoverishment of the ordinary Nigerian.
So no matter how much extra Nigeria makes, if we can't account for it, then there is no need to tax people gathering the money and sharing it among the leaders. The people should be at the center of everything the government is doing. Otherwise, nothing serious is happening.




Our tax to gdp is lower than that of Niger republique. About 70% of taxpaying Nigerians do not pay taxes to the federal and state governments.

this texkbook knowledge passed to you by IMF and the likes. Do what works for you and forget theories that have never wrked anywhere as sent you by your colonial masters.

[quote author=AntiChristian post=133629069]

How does not matter but how sane are you?

Irony is the expression of one's meaning by using language that normally signifies the opposite, typically for humorous or emphatic effect.[/quote


Boy Use Google to find out our output per day since 1999.

[quote author=tolue42 post=133630794][/quote]

I used exaggerations in my statement!

It was never meant to state the fact!

AntiChristian:


"It's always a lie"!

OBJ reached 20 80 million bpd!

Yar'adua reached 25 40 million bpd!

GEJ reached 30 60 million bpd!

BAT is just doing meagre 1.0 million bpd and you are praising him ehn!

Let him do more than the ironies above!

Is it the Nigerian government who's lying or Bloomberg??

Besides, did you deliberately skipped the president before PBAT??

9jatriot:
How can all that over 100 million people think about is how to import How is one more person who learns to export not be a good thing.

If 50 million people in Nigeria become really productive and export products even each of them does $1k, the economy will get better and standard of living will improve, buy you are referring to an era where bad habits was being subsidized

What bad habit is T-Pain subsidising below with the billions of dollars in new loans

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

frankson1:


Is it the Nigerian government who's lying or Bloomberg??

Besides, did you deliberately skipped the president before PBAT??

Na irony i was trying to stage there o!
Yeah, missed him!

Goodnews

AntiChristian:


"It's always a lie"!

OBJ reached 20 million bpd!

Yar'adua reached 25 million bpd!

GEJ reached 30 million bpd!

BAT is just doing meagre 1.5 million bpd and you are praising him ehn!

Let him do more than the ironies above!

Nigerians have to me made to write and rewrite English language proficiency tests. Imagine the comment that someone who probably went through the walls of a classroom is writing after seeing first time in 4 years. Tufiakwa

LoveThemChubby:

Nigerians have to me made to write and rewrite English language proficiency tests. Imagine the comment that someone who probably went through the walls of a classroom is writing after seeing first time in 4 years. Tufiakwa

Just trying to be sarcastic!

That one no dey your lexicon!

qtx:
this texkbook knowledge passed to you by IMF and the likes. Do what works for you and forget theories that have never wrked anywhere as sent you by your colonial masters.

That's why I don't like discussing on this site. Everytime, abuse and more abuse.

It is not IMF that taught me this thing, it is quite simply realites of life.

Let's say you are producing bread, at a cost of N1500 per loaf. All your profit goes into maintanace, taxes, paying staff, and expanding your business. But then, you need to upgrade your equipment...so you take a loan. Your staff need a raise, government raises taxes, and you also want to expand your business.

Would you sell bread at N1500 forever? And would you agree if government forces you to sell that bread at N500 and then pays you a subsidy of N200 to cover your losses?

Oga, that is how reality works. The subsidy we were doing cost us billions of naira, and also 4 refineries. See as the refineries are working now that subsidy don go.

Yet in your childish mind, everything must be cheap.

Oga, better recieve some sense, and realize that life is not about what we want. At the end, no one is going to do anything for free for you.

All the countries that subsidised everything so that masses would enjoy share one thing in common with Nigeria. Massive debt as a result...and in some instances collapse.

Sorry, but people like to be paid. If it makes them IMF slaves, so be it. Maybe you go open petrol station sell petrol at N10 per liter....and then maybe we go see.


And grow up, IMF slave. Everytime, you guys encounter argument that you no like...na to call them IMF slave. ALl the countries that are IMF slaves are countries like Nigeria. Subsidies for the masses=massive debt= running to IMF for more money. Yet una no see.

nairalanda1:


That's why I don't like discussing on this site. Everytime, abuse and more abuse.

It is not IMF that taught me this thing, it is quite simply realites of life.

Let's say you are producing bread, at a cost of N1500 per loaf. All your profit goes into maintanace, taxes, paying staff, and expanding your business. But then, you need to upgrade your equipment...so you take a loan. Your staff need a raise, government raises taxes, and you also want to expand your business.

Would you sell bread at N1500 forever? And would you agree if government forces you to sell that bread at N500 and then pays you a subsidy of N200 to cover your losses?

Oga, that is how reality works. The subsidy we were doing cost us billions of naira, and also 4 refineries. See as the refineries are working now that subsidy don go.

Yet in your childish mind, everything must be cheap.

Oga, better recieve some sense, and realize that life is not about what we want. At the end, no one is going to do anything for free for you.

All the countries that subsidised everything so that masses would enjoy share one thing in common with Nigeria. Massive debt as a result...and in some instances collapse.

Sorry, but people like to be paid. If it makes them IMF slaves, so be it. Maybe you go open petrol station sell petrol at N10 per liter....and then maybe we go see.


And grow up, IMF slave. Everytime, you guys encounter argument that you no like...na to call them IMF slave. ALl the countries that are IMF slaves are countries like Nigeria. Subsidies for the masses=massive debt= running to IMF for more money. Yet una no see.

I think they have brainwashed you to believe their stories that they must strangle nigerians to get the country working. Use your common sense that is if u have one, otherwise borrow one. Until our leaders start being accountable, no matter the amount of money we make, we cant account for it hence, we will not go anywhere. All is to keep inflicting hardship on the citizens. Ask yourself, of all the corruption allegations within the government circle in the past couple of years, who has been prosecuted? Take a look at the size of this government, look at the monies she is squandering on irrelevant projects that are not accountable. The yacht, building renovations, foreign trips, etc. My point is, if you like let all citizens of 200 million pay 50% taxes, Nigeria will still be broke. Why? Because no one is accounting for anything. Therefore, why not address this need first before u start squeezing money out of ordinary citizens. I know you his benefactors will go to any extent to defend what the government is doing even when the situation is quite clear that nothing serious is happening.