Boxer007:
Any beautiful man wanna chat? (Free paid dinner? Disco & dance included)

Nbote:
Dey have found an excuse to remove d subsidy and increase pump price

NIGERIA REMOVES FUEL SUBSIDY, PROMPTS MIXED REACTIONS
12/5/16

Nigeria's government has announced the removal of a fuel subsidy, meaning that petrol prices are to rise by 66 percent, in a decision that has provoked mixed responses.

The cost of petrol will rise from 86.5 naira ($0.43) to 145 naira ($0.73) per litre after the subsidy—which costs the Nigerian government $2.7 million per day, according to the BBC—was removed. The Nigerian Petroleum Ministry said in a statement that there was no provision for the subsidy in the 2016 budget—which was finally approved by President Muhammadu Buhari on Friday after first being proposed in December 2015—and that the slight rebound in the cost of oil had forced the government's hand.

Nigeria is experiencing a severe fuel shortage, with consumers queuing for hours outside gas stations and often paying way over the new price for black-market products. The West African country, the continent's biggest oil producer, has been unable to meet demand due to several factors, including increased attacks on oil pipelines in the Niger Delta that have forced the evacuation and shutdown of some facilities. "We share the pains of Nigerians but...the inherited difficulties of the past and the challenges of current times imply that we must take difficult decisions on these sorts of critical national issues," said Petroleum Minister Emmanuel Kachikwu in a statement on Wednesday.

https://www.newsweek.com/nigeria-removes-fuel-subsidy-prompts-mixed-reactions-459159#:~:text=Nigeria%20Removes%20Fuel%20Subsidy%2C%20Prompts%20Mixed%20Reactions,-By%20Conor%20Gaffey&text=The%20cost%20of%20petrol%20will,to%20the%20BBC%E2%80%94was%20removed.

NdiaraIGBO:
Blacks don't want to produce anything but love to consume every rubbish!

Una go suffer tired!!!

190m fools.

GOFRONT:
Since the coming of Covid19, I have not heard from MANNABBQGRILL and Darling Daddy..

Officialgarri:

Baba, try to be smart when making comments. And stop forcing your name on us by posting your picture on every comment you make. Your comments, rather than prove you to be intelligent, only shows you are here for the "likes". You are not smart enough to be known.


Back to the topic:

While I'll ignore the removal of subsidy for now, I believe Devaluation of Naira would have been the best option in this period we are. We can't keep defending the Naira with the reserve only.

However, for how long shall we continue to devalue?

It's always like Nigeria devalues and then sits back and let it slide.
It should not be so!
This is the time where the Minster of Science and Tech. (Who has been promising us production of pencils, go to space and so many unfound promises) Minister of solid minerals, and Minister for Agriculture — should be summoned and given a strict deadline to up their games.

We need to export so badly and bring down importation to the least possible

NdiaraIGBO:
Blacks don't want to produce anything but love to consume every rubbish!

Una go suffer tired!!!

190m fools.

MondayOsunbor:


LADIES AND GENTLEMEN ARE YOU READY FOR NATIONAL RIOT I AM NOT TALKING ABOUT PROTEST


I MEANT OLD STYLE RIOT

MondayOsunbor:


any better ? i am available

Officialgarri:

Baba, try to be smart when making comments. And stop forcing your name on us by posting your picture on every comment you make. Your comments, rather than prove you to be intelligent, only shows you are here for the "likes". You are not smart enough to be known.


Back to the topic:

While I'll ignore the removal of subsidy for now, I believe Devaluation of Naira would have been the best option in this period we are. We can't keep defending the Naira with the reserve only.

However, for how long shall we continue to devalue?

It's always like Nigeria devalues and then sits back and let it slide.
It should not be so!
This is the time where the Minster of Science and Tech. (Who has been promising us production of pencils, go to space and so many unfound promises) Minister of solid minerals, and Minister for Agriculture — should be summoned and given a strict deadline to up their games.

We need to export so badly and bring down importation to the least possible

GOFRONT:
Since the coming of Covid19, I have not heard from MANNABBQGRILL and Darling Daddy..

MansoryMX:


Seconded! As in Foolish fools!

RisenPhoenix:
Devaluation of the Naira is a good way for us to step up our exports, because our goods and services will be cheaper to foreign nations. Unfortunately, rather than search for goods we can produce for export and learn about what standards we need to uphold and how to maintain those standards to make our exports attractive, my people will lie down on the floor and start wailing and throwing tantrums; waiting for government to come and spoon feed them.

osamz007:
May ask one foolish question shaa


THIS MONEY WEY DEM DEY TALK SAY E NO DEY, NO BE MACHINE DEY PRODUCE AM?

IF YES, WHY THE MACHINE NO DEY PRODUCE SUFFICIENTLY, AS I DEY NOW I NEED SERIOUS ANSWERS ABEG.

RisenPhoenix:
Devaluation of the Naira is a good way for us to step up our exports, because our goods and services will be cheaper to foreign nations. Unfortunately, rather than search for goods we can produce for export and learn about what standards we need to uphold and how to maintain those standards to make our exports attractive, my people will lie down on the floor and start wailing and throwing tantrums; waiting for government to come and spoon feed them.

DonFreshmoney:
It has begun. Naira would soon be devalued to N1000 to a dollar. Nigeria is a big mess..

Our people never suffer finish.

GamalNasser:
Which subsidy ? I thought the lying Major General said he was under recovering ...But with price of crude oil below 30 dollars per barrel what subsidy are we talking about ? They should just say the want to increase fuel price so they can have what to loot as usual , all other countries are mooting fuel price reduction and satanic APC is talking of removing subsidy , at 30 dollars per barrel there can be no subsidy in effect , what difference are they subsidizing at 30 dollars per barrel ...when Buhari can he claimed he had removed subsidy completely and took fuel price to 147 per litre till today he cannot show what he did with money he gained before he now claimed he was paying under recovery because crude had gone to 70 dollars per barrel and now it below 30 dollars the wicked man is still claiming he is paying subsidy !!!! Paying subsidy on what ?

In 6 years the failed man has not fixed a single refinery , has not improved electricity , has not stabilized the naira and now he wants to add a new fuel tax under the guise of removing a non existent subsidy ..there can be no subsidy at 30 dollar per barrel!!!!!

courage89:


If this is accurate, why is it that our export to other countries has not triple or quadruple in the past, ever since we started devaluation of naira? Devaluation will not increase our export, it will only inflict more pains and compound our economic problems. Higher inflation, higher interest rates, lost of production economy

RisenPhoenix:
Devaluation of the Naira is a good way for us to step up our exports, because our goods and services will be cheaper to foreign nations. Unfortunately, rather than search for goods we can produce for export and learn about what standards we need to uphold and how to maintain those standards to make our exports attractive, my people will lie down on the floor and start wailing and throwing tantrums; waiting for government to come and spoon feed them.

courage89:

Cheaper export and other production comparable advantage will happen when we fix other factors that affect production (excluding cheap labor, cheaper currency). High cost of diesel, electricity, high cost of funding, transportation, double taxation, high security
cost and other factors. If we do not fix and improve on these factors, export of Nigerian goods remains a mirage.

Nbote:
Dey have found an excuse to remove d subsidy and increase pump price

RisenPhoenix:
Devaluation of the Naira is a good way for us to step up our exports, because our goods and services will be cheaper to foreign nations. Unfortunately, rather than search for goods we can produce for export and learn about what standards we need to uphold and how to maintain those standards to make our exports attractive, my people will lie down on the floor and start wailing and throwing tantrums; waiting for government to come and spoon feed them.

Glink2018:



Presently we are paying more than the landing cost of fuel price. There is nothing like fuel subsidy for now.....there suppose to be the price reduction of fuel in the country