Politics / Re: Obasanjo Neglected Abeokuta–Abule Egba Road – Onanuga by Realdeals(m): 2:18pm |
Ignorant |
Politics / Re: Benin Republic, Niger Enjoy Smuggled Fuel As Nigerians Keep Vigil For Petrol by Realdeals(m): 11:05am |
Subsidy should be predicated on the surplus of resources, which should be brought about by increased productivity especially of the citizens. The bolded answer 1-2 lexy2014:
that is not what I asked you.
1. why would you think of stopping all the subsidies?
2. is subsidies peculiar to nigeria?
3. do you think developed countries dont give subsidies? Is Nigeria a developed country?
4. what is the result of the subsidies removed so far? Do you expect sudden results? from my understanding, only FX liberalization has been done to the fullest
tinubu, his vice, their wives and children, members of the national assembly, governors and their state legislators enjoy free food, free transportation, free accommodation, free security, free fuel, free internet, free electricity, free healthcare, free phone calls, free clothing all at home and abroad.
5. how come it is ok for the political elite to enjoy freebies but its not ok for the citizens to enjoy subsidies? Inequality will always exist in the society.
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Politics / Re: Benin Republic, Niger Enjoy Smuggled Fuel As Nigerians Keep Vigil For Petrol by Realdeals(m): 10:37am |
Subsidy should be predicated on the surplus of resources, which should be brought about by increased productivity especially of the citizens. lexy2014:
why would you think of stopping all the subsidies?
is subsidies peculiar to nigeria?
do you think developed countries dont give subsidies?
what is the result of the subsidies removed so far?
tinubu, his vice, their wives and children, members of the national assembly, governors and their state legislators enjoy free food, free transportation, free accommodation, free security, free fuel, free internet, free electricity, free healthcare, free phone calls, free clothing all at home and abroad.
how come it is ok for the political elite to enjoy freebies but its not ok for the citizens to enjoy subsidies?
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Politics / Re: Benin Republic, Niger Enjoy Smuggled Fuel As Nigerians Keep Vigil For Petrol by Realdeals(m): 9:57am |
Very few understand your reasoning. I told someone if I was the President, I will stop all form of subsidy. Tinubu has been able to stop FX subsidy totally, remains fuel and electricity. nairalanda1:
SO, government should spend over N1000 per liter so that you can have fuel at N40 per liter then?
The issue is, your government is not able to keep up the subsidy, and is going into debt keeping fuel at N700 and below.
For me it is kind of choose your poision.
1. Keep subsidy, even reduce prices to N200 or less per liter, and the resulting deficit eats our forex earnings, and drives us into debt and penilessness until Sri Lanka level is attained.
2. Remove subsidy, yes hyperinflation for some time, but we eventually get more domestic refining, more investment, and could even become an exporter of refined products, meaning our economy benefits (We won't have a good economy...until we industrialize and become an exporter of manufactured goods and services tho...that's another discussion).
2 IS the least worst option.
NO one likes subsidy removal...but for donkey years we have subsidised fuel...and electricity, and at the end, we have gotten nothing out of it. TIme to try something new. We have been warned about this since 1993, and especially in 2012, when we had the last chance to remove subsidy painlessly. |
Politics / Re: Benin Republic, Niger Enjoy Smuggled Fuel As Nigerians Keep Vigil For Petrol by Realdeals(m): 9:50am |
Even if Dangote refinery begins PMS supply, it should strive to supply Benin and Niger government as well, at the same price with Nigeria. |
Politics / Re: Dapo Abiodun Flags Off Full Reconstruction Of Lagos-Abeokuta Expressway (Videos) by Realdeals(m): 7:23pm On Aug 23 |
This is also a road that has a railway running almost side by side. It is gladdening that the road construction will terminate at the Abule Egba bridge. 1 Like |
Crime / Re: EFCC Arrests Hyginus Nkwocha Over Internet Fraud, Money Laundering by Realdeals(m): 8:28am On Aug 23 |
They are like beggar, they don't know when to stop. 5 Likes |
Politics / Re: Tinubu Panel, Dangote Refinery Agree On Sept Petrol Rollout by Realdeals(m): 2:37pm On Aug 20 |
So the order to give Dangote crude should be carried out instantly? What happened to the existing commitments with the same crude, they should be cancelled right away? and what about the interest of the IOC's producing the crude, they should be damned, and not discussed. Sicklebear28:
So to give Dangote oil in naira is what is difficult..okay . They way agbado miscreants reason through their Anus ,it will perplex Albert Einstein to formulate a theory explaining it |
Politics / Re: Tinubu Panel, Dangote Refinery Agree On Sept Petrol Rollout by Realdeals(m): 2:10pm On Aug 20 |
Some people think governance is easy as ABC, some of the decisions being made now will bring a lot of ease in the coming month. |
Politics / Re: Davido And His Father Make An Impactful Appearance At A Church Service In Surule by Realdeals(m): 7:13pm On Aug 18 |
Most likely a seventh day Adventist church |
Politics / Re: NJC Recommends Kudirat Kekere-Ekun CJN-designate, 27 High Court Judges by Realdeals(m): 1:48pm On Aug 15 |
Congratulations, she will be the first to earn ₦64m/year salary. 10 Likes 1 Share |
Business / Re: Hackers Seize Gtbank Website, Intercept Customers’ Data In Massive Phishing Oper by Realdeals(m): 11:24pm On Aug 14 |
The domain name appears to be parked. Maybe they are migrating to another domain that will reflect GTco, but they should have handled the redirect without hitch. 3 Likes 1 Share
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Music/Radio / Re: D'Banj And Don Jazzy Preview The Entertainer Sequel (Video). by Realdeals(m): 3:25pm On Aug 13 |
It is not bad going back to the formular that work. 6 Likes |
Celebrities / Re: EFCC: I Did Not Petition Paul But Jude - Peter Okoye by Realdeals(m): 9:28pm On Aug 12 |
Greed! Greed!! Greed!!! |
Autos / Re: President Tinubu Commissions 20 CNG Buses Produced By Innoson Motors by Realdeals(m): 7:37pm On Aug 12 |
Any Nigerian producing anything relating to CNG will hit it big under Tinubu, irrespective of affiliations. 1 Like |
Politics / Re: I Was Offered ₦800k To Demonize Dangote Refinery - David Hundeyin (Pictures) by Realdeals(m): 9:57am On Aug 10 |
Catching cruise as usual. 2 Likes |
Romance / Re: Text Between A Lady And Her Talking Stage Guy by Realdeals(m): 11:40am On Aug 09 |
What to order and the bill should be at the instance of the inviter. |
Travel / Re: Japa: 430,000 Nigerians Get UK Visas In Seven Months by Realdeals(m): 11:29am On Aug 09 |
We are exporting, which means more FX inflow.
That number of Visa is debatable because it amounts to about 0.6% of current UK population, and that's for Nigeria only. 9 Likes 1 Share |
Politics / Re: Naira Crude Sale Yet To Happen – Operators by Realdeals(m): 12:48pm On Aug 07 |
It is obvious hypocrisy to believe that the sales will begin immediately. |
Politics / Re: Rioters go on rampage, loot furniture, mattress, others at NCC hub, Kano by Realdeals(m): 12:13pm On Aug 01 |
That is what the Governor want, he should keep encouraging them till it gets out of hand, and Tinubu declared a State of emergency. 6 Likes 2 Shares |
Politics / DAPPMAN Petitions Tinubu Over Dangote Refinery’s ‘Monopolistic’ Tendencies by Realdeals(m): 10:37pm On Jul 31 |
The Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, has written to President Bola Tinubu over alleged monopolistic tendencies of Dangote Refinery.
DAPPMAN said before Dangote Refinery was established, Nigerian business entrepreneurs already had investments in the country’s downstream petroleum sector running into trillions of naira, with taxes remitted to the various state governments by their respective employees.
This was contained in a letter addressed to the President and obtained by DAILY POST.
DAPPMAN noted several investments made by Dangote in the past and how he had allegedly monopolised certain sectors.
DAPPMAN stressed that possible monopoly by Dangote Refinery would jeopardize all its members’ investments. It urged the President to intervene and ensure the sustenance of deregulation and free market policies intended by the Petroleum Industry Act (PIA) 2021.
The letter signed by the Executive Secretary of DAPPMAN, Olufemi Adewole, reads partly: “We understand that this is due to the implementation of the restrictions placed on ECOWAS member nations by ‘Afri 5’ gasoil and gasoline specifications which have the resultant effect that AGO purchases can only be made from one source being the Dangote Refinery.
“It is on credible record that marketers’ AGO imports have complied with the Afri 5′ gasoil and gasoline specification of sulphur content not exceeding 50/parts per million from January 2024 despite the inability of local refining capacity, including the Dangote refinery, to meet this specification to date.
“Dangote Refinery’s AGO presently has sulphur content exceeding 700/ppm in accordance with waiver granted by the NMDPRA. This far exceeds the average of 50/ppm sulphur required for AGO imports by marketers, yet the regulator has restricted all other downstream operators from sourcing this product exclusively from the Dangote Refinery.
“This is a clear adoption of Dangote Oil Refinery as the sole supplier of AGO to the nation. This situation is detrimental not only to the downstream operators but the nation at large. It deprives Nigerians of cheaper options as the Dangote Refinery always has the final say and dictate prices without any competing alternatives.”
The group emphasized the need for market forces to be allowed free reign in the sector within appropriate rule of law.
It added: “Dangote refinery’s initial step was to crash the price of AGO from a ‘high’ price of N1,700 per litres to N1,200/litre and later to N1,000 and later to N900/litre despite the large inventory of the imported AGO with marketers which thus could not be sold as it was imported with very high forex rate.
“Marketers with this huge volume of AGO saw the opportunity to reduce their losses when forex rates crashed and the naira appreciated against the dollar as they sought to import cheaper AGO stock to ‘blend’ their retail pump price, reduce their losses and sell off their AGO stock.
DAPPMAN lamented that regulators limited the source of AGO product to Dangote refinery through its restrictive policy.
“We wish to specifically refer to the stakeholders’ meeting between our DAPPMAN members and top management of Dangote Oil Refinery. Regrettably, despite assurances at the meeting, Dangote Refinery continues to offer refined petroleum products to foreign traders at $50 per metric tonne, cheaper than the pricing to local companies.”
The body assured the President of its availability to discuss and clarify all the salient issues raised, with a view to providing healthy fuelling alternatives, at competitive rates.
The letter reads further: “Dangote refinery’s initial step was to crash the price of AGO from a high of N1,700/ltr and later to N1000/ltr and later to N900/ltr despite the large inventory of the imported AGO with marketers which thus could not be said as it was imported with very high forex rate.”
This is coming amid claims by Aliko Dangote that some agencies where trying to frustrate the functionality of the refinery.
Dangote made the claim following allegations by the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, that his refinery was producing inferior fuel.
To resolve the imbroglio, Tinubu had ordered the sale of crude oil to Dangote’s refinery in local currency.
Tinubu’s Special Adviser on Revenue and Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the President’s order would save the country $7.3 billion annually.
https://dailypost.ng/2024/07/31/dappman-petitions-tinubu-over-dangote-refinerys-monopolistic-tendencies/ 6 Likes 1 Share
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Business / Re: Tinubu’s Order Won’t End Dangote Refinery Woes – Experts by Realdeals(m): 3:50pm On Jul 30 |
Energy experts that are extorting the system, how will they agree it is positive. 1 Like 1 Share |
Politics / Re: FEC Orders NNPC To Sell Crude Oil To Dangote, Other Refineries In Naira by Realdeals(m): 6:35pm On Jul 29 |
I just hope Dangote will repatriate the FX from excess product sold in the international market back to the country. |
Politics / Re: President Tinubu Offers Lifeline To Dangote Refinery - Femi Otedola by Realdeals(m): 5:22pm On Jul 29 |
FX from excess product sold in the international market should be repatriated back to the country. 1 Like |
Politics / Re: Comply With NNPCL Regulations, Arewa Youth Urges Dangote Refinery by Realdeals(m): 7:24am On Jul 29 |
“Our findings show that he wants NMDPRA not to license anyone else to bring in products. They said no! He blackmails them and is trying to incite Nigerians against NMDPRA, claiming they are giving licenses to marketers who bring in substandard products into the country. |
Politics / Re: Senator Ubah Extols President Tinubu For Signing SEDC Bill by Realdeals(m): 1:20pm On Jul 24 |
How will all the Regional commissions be funded? 1 Like |
Sports / Re: Super Falcons Players Stuck In An Elevator (Video, Photos) by Realdeals(m): 10:14am On Jul 22 |
It would have been curse upon curse had it happen in Nigeria. 1 Like |
Education / Re: Yusuf Gagdi Gifts Daughter SUV For Graduating From Secondary School by Realdeals(m): 7:41pm On Jul 21 |
He's a youth |
Business / Re: Dangote Calls Off Plan To Invest In Steel, Discouraged By The Government & Cabal by Realdeals(m): 12:03pm On Jul 21 |
Dangote haters are ordinary people that cannot do anything, but hate those doing something. They are everywhere.
Those people are mostly his elite kindred, when OBJ sold the PH refinery to him, a northerner becomes the President, then cancelled it.
A northerner, who is the head of the government agency bad mouth products from his refinery. 1 Like |
Politics / Re: Demand For Freight Services Rise On Lagos-Ibadan Rail Corridor by Realdeals(m): 7:08am On Jul 21 |
Isn't this news stale? Gbemi was a Minister under Buhari, and not Tinubu . The article itself was published in 2022. |
Business / Re: CBN Sells FOREX To BDCs At ₦1,450/$ by Realdeals(m): 5:19pm On Jul 18 |
CBN is not defending, but only intervening by selling at the prevailing market price. They are meant to be intervening in the market because they are the custodian of the FX earned by the government. SmartPolician: CBN has started something they cannot finish. They are back to defending the naira whereas Tinubu claims that it's the free market determining the exchange rate. 35 Likes 1 Share |
Politics / Re: Tinubu Approves ₦70,000 Minimum Wage, To Review Wages Every Three Years by Realdeals(m): 3:57pm On Jul 18 |
The increments can't cause additional Inflation. Inflation can't be more than we've had in the past months. 2 Likes 1 Share |