Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank - Politics - Nairaland
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| Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by dachilino: 6:06am On Jun 04, 2019 |
The Vice President for Sustainable Development, World Bank, Laura Tuck, who spoke at the ongoing World Circular Economic Forum in Helsinki, Finland , stated that Nigeria’s fuel subsidy is not helping the poor. Tuck who spoke on the theme ‘Scale it up! The Next Era of the Circular Economy', revealed that the the continuous payment of huge sums of money as subsidies on fossil fuels has worsened resources consumption and increased greenhouse emission and pollution. “Strong evidence shows that a lot of countries put subsidy on fossil fuels, and these subsidies are insufficient to support the poor. They aggravate resources consumption, pollution and greenhouse gas. Globally, subsidies on fossil fuels are huge,” she added. Tuck said, “We cannot achieve a circular economy if we continue to make policies that give incentives to overuse of resources. Circularity means we use fewer non-renewable energy like fossil fuels and carefully manage our renewable resources like Timber and fisheries, among others.” https://unclesuru.com/2019/06/04/nigerias-fuel-subsidy-not-helping-the-poor-world-bank/
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| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by dachilino: 6:12am On Jun 04, 2019 |
Abeg o, make una no blast me. Na mistake, posted in the wrong section  3 Likes 2 Shares |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by nony43(m): 6:42am On Jun 04, 2019 |
Seun, when will you ban these bet9ja guys? 5 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Wiseandtrue(f): 6:42am On Jun 04, 2019 |
dachilino:Which of Buhari's policies is helpful to the poor  24 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by sykeng(m): 6:43am On Jun 04, 2019 |
we are doomed in this country, politicians will still find a way to embezzle the money even when subsidy is removed 15 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Emeritus001(m): 6:43am On Jun 04, 2019 |
The duty of our government is to press the poor while they enrich their pocket.... We are in for it in this country.... I surely know that the opress cannot be pressed forever.... Freedom will come.... Emeritus 15 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by greatiyk4u(m): 6:43am On Jun 04, 2019 |
Where was Nigeria mentioned in the article? The same poor that complain of buying at 147, how will buying at 250 help them? 15 Likes 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by CocoaOla: 6:46am On Jun 04, 2019 |
We know Nigeria is the biggest scam in the whole world now and are government are Yahoo Yahoo. na to look for decent ccountry change Nationalility sure pass 6 Likes 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by iammo(m): 6:47am On Jun 04, 2019 |
 Dangote is coming on stream, so are many modular refinery owners.... world bank should tell us what their problem is, africa dont need financial aides and donor, we need Financial partners who can invest like china exim bank and many chinese banks. Remove subsidy without Refinery or sustainable Electric Energy then we buy petrol and diesel at roughly 300 naira... hike in cost of energy = hike in cost of production = equals hike in cost of products..... are we ready to buy pure water for 30 naira ? 14 Likes 2 Shares |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by CocoaOla: 6:48am On Jun 04, 2019 |
We know Nigeria is the biggest scam in the whole world now and our government are Yahoo Yahoo. na to look for decent ccountry change Nationalility sure pass 2 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Nobody: 6:48am On Jun 04, 2019 |
iammo: Yea dangote cement has been on stream And we buy cement as such prices  13 Likes 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Raydos: 6:50am On Jun 04, 2019 |
This world bank sef mumu, Do you think Nigeria government give a fúçk about the poor?? 4 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Awoo88: 6:50am On Jun 04, 2019 |
JEG tried to kill this monster, tinubu, El rufia, buhari, even FFK etc all join hand, hire musicians, provided transport to the part. And lunch. Nigerians cheered on. Buhari came, increased the pump price to what JEG wanted without subsidy, and still paying more than Jonathan ever paid. Nigerians are their biggest problem. 13 Likes 2 Shares |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by iammo(m): 6:52am On Jun 04, 2019 |
maybachmusic: you buy cement at the rate the producer fixes . goverment isnt a charitable organisation of pity party 2 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by emmykk(m): 6:55am On Jun 04, 2019 |
iammo: So after dangote is through with his refinery he will start to sell it to you for 10kobo? He is a capitalist and he will be exporting it to west Africa countries and other countries for a good price. He will even then contest as president to have a better say. 3 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by ednut1(m): 6:55am On Jun 04, 2019 |
iammo:u think dangote will sell at 147 Hahahaha1 Like |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by iammo(m): 6:57am On Jun 04, 2019 |
ednut1: we pay any subsidy to dangote in Naira, even if we pay him dollars, it isnt like MTN and southafrican capital flight 1 Like |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by RichDad1(m): 6:58am On Jun 04, 2019 |
It has never been about the poor. It’s just an avenue to loot for the politicians and their cohorts. 1 Like |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by ednut1(m): 6:59am On Jun 04, 2019 |
iammo:which naira Can naira buy crude oil The subsidy will be in form of government share of crude oil.3 Likes |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by EVarn(m): 7:00am On Jun 04, 2019 |
The world Bank should go and sit down,and stop making unnecessary noise. They should tackle countries like China and the US that produce huge emissions of greenhouse gases. If the government totally removes subsidy on petroleum products,the price of petrol,diesel,kerosene and even gas will double. Price of commodities will hike due to the fact that most companies run on generators, even services like public transport fares will double. So, how is subsidy not helping the poor?,is it people that can barely afford N147 per litre of fuel that will now happily buy it at N450?. 10 Likes 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by olajide8(m): 7:02am On Jun 04, 2019 |
dachilino: They should stop this their concern about our fuel subsidy the truth is it is not allowing them come in and play in our liberalized market and that is the reason they are talking about it repeatedly I don't know if nigerians are as smart as seeing this obvious fact 3 Likes 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by Nobody: 7:03am On Jun 04, 2019 |
How fuel subsidies cheat the poor 1. Subsidies prevent companies from making decent profits. As a result, fresh investment does not come in, job creation gets stifled. Poor affected. 2.Millions is spent on feeding subsidy cabals rather than projects for the poor. 3 Lack of investment means that no new refineries can be built which means that prices stay high and importation continues, wasting more money that could have been used for projects that would benefit the poor. 4. Nigeria gets into debt sustaining subsidy, which worsens our bad economy. When GSM came, there were no price controls. GSM companies charged high prices for SIM cards, meanwhile service was poor. They took their money, invested it in new facilities, prices came down. Remove price controls. Starve the corruption in NNPC. Starve the subsidy cabals. Allow profits to be made. Then sit back and watch as investors flow in, build more refineries without government paying a dime, and prices fall, more jobs get created and money saved is used for better things. Subsidy has to go. Since 1993. 2 Likes 2 Shares |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by iammo(m): 7:05am On Jun 04, 2019 |
ednut1: with over 2.5m barrels per day NNPC can even swap crude with dangote for finished products not to talk of naira. world bank is in business of country to country loans and financial aides , and all corporation only favour their intrest so.. i still maintain my question what is world banks concern? 1 Like 1 Share |
| Re: Nigeria’s Fuel Subsidy Not Helping The Poor — World Bank by shedy03(m): 7:07am On Jun 04, 2019 |
buhari and his govt is wicked. he removed the subsidy that was helping the poor and Introduce the subsidy that does not help the poor. 1 Like |
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