ican2020:
You and your fellow presidential candidates should stop all this childish talk

Tinubu of APC said the same thing and some people where praising him just as people we rush to praise you

What is subsidy?

You shunned the root cause of fuel crisis and focused on chasing shadows

Is there any major top 10 oil producing country in the world that is importing refined fuel for their local consumption, the answer is no

So, why are we importing refined fuel instead of refining it locally and exporting both crude and refined fuel to other countries

If any of you must remove subsidy, you must first remove the monopoly in refine fuel importation

Nigerians and business owners who are interested in importing fuel must be allowed to do as long as they can import products that meets minimum standard and also have the facility to store them before distribution

Take the case of GSM handsets, when it was first introduced, ordinary Nokia touch light cost over 40k but when many Nigerians dived into the importation of handsets, prices of phone crashes

Same thing will happen to fuel if government will for once consider Nigerians plight, remove the monopoly of NNPC, allow more players to import fuel into the market, price will fall below 100 naira

quentin06:


Ever heard of the word economic sabotage? Its obvious that some powers dont want these countries to refine their fuel.

Its basic economics, you have the raw materials in your back yard, it doesnt make sense to ship the items to another country thousands of miles away to refine and buy at exorbitant rates, Nigeria btw was refining its petrol until 2014. All they needed to do was to build more refineries , stop the stealing of crude (which is another economic sabotage too).

Subsidy removal with the continual importation of petrol will only worsen the economic situation of the country ,

Dont tell me the exorbitant rates people are paying for fuel globally is correct.

Ghana is the second largest producer of cocoa, why is she still exporting raw cocoa after many decades? Why is US the largest producer of chocolates even though the raw material they use comes from Ghana, Cote d Ivore and Ecuador?

You think given the right investments Ghana cant produce chocolates? I think its a systemic sabotage of the economies of these countries, pay raw materials for cheap and charge exorbitantly for the finish products.

rman:


God bless you!

Facts backed up with verifiable evidence.

Fearyourcreator:

I go to the ministry well... If you see jazz blackmail a lot going on there.... The last is most there are very lazy... Very very lazy... They don't want to do anything than to collect bribe... And anyone hardworking among dem ... They hate no be small... These people their Pikin dey NL abusing politicians... Person wey be say na bribe them dey chop for house... Their uncles anuties brothers sisters fathers mothers sons daughter ... But you will see them abuse government ...
Sometimes some people here will make you talk but dont be over dragged ooo...

IbeOkehie:


The answers to ALL your questions is VERY EASY.

African countries are mainly exporters of raw materials because most of them have chosen to have fixed prices for their currencies and those prices are generally overvalued. That's REALLY all there is to the matter.

If you doubt me, THINK of what will happen to Innoson if the naira is floated today. Let's say the naira goes to say, 2500=$1. How many Nigerians will still choose to import tokunbo cars from USA instead of buying new Innoson cars? Then OTHER Nigerian investors will start building car factories to compete. They will create jobs. That is how an economy grows.

Again, look at ALL the prosperous countries in the world today. The VAST MAJORITY operate floating currencies. Even the USA that prints the $USD doesn't set a price for it, the price is on the open market. I think Hong Kong is the only major prosperous economic sovereign that has a fixed currency and it has a unique history behind the policy.

Fixed currencies are economic suicide pills. This is the MAJOR REASON Nigeria has been mired in poverty for ALL of its history, with only intermittent bouts of growth when crude oil prices shoot up. Now the situation is so bad that even high crude oil prices can't help.

Enough of the conspiracy theories abeg. The only one sabotaging Nigeria is the Nigerian people who DEMAND a strong naira so they can easily and cheaply import foreign consumer items without doing much work. Just print naira, claim it's worth 450 to 1 and use it to import consumables instead of working hard to produce your own.

quentin06:


Will developed countries allow African countries to develop? You re answer is as good as mine. [b]African countries didn't elect to export raw materials by choice, [/b]know that.

ufotunang:
Build or repair the refeneries and make it to work. before removing fuel subsidy

copyrites:


We definitely did not watch the same program. Perhaps, you were busy mesmerizing that Microphone lollipop licker

Wickedfact:


When Soludo said Peter Obi is talented in multiplying poverty, you thought it was a joke?

IbeOkehie:


Endless questioner. Forever asking.

On the other hand..see what keeping subsidy since 1973 has cost us

1.4 working refineries

2.Millions upon billions of lost income

3.Lots of lost jobs

4.A ballooning deficit which forces us to take loans

5.Millions upon billions lost to smuggling

6. NNPC being propped up by billions of naira that we should be spending elsewhere

7. A growing deficit which we have to borrow to cover for.

benqo01:


RE U SAYING SUBSIDY WILL BE DIFFICULT TO REMOVE? LIKE HE SAID IT IS AN ORGANIZED CRIME,DONT YOU THINK SOME PEOPLE RE BENEFITTING FROM THIS SUBSIDY STUFF.....

obynzo:


Seriously you are saying this!!! Are you still in secondary school that you don't know how subsidy for example encourages smuggling.

On the other hand..see what keeping subsidy since 1973 has cost us

1.4 working refineries

2.Millions upon billions of lost income

3.Lots of lost jobs

4.A ballooning deficit which forces us to take loans

5.Millions upon billions lost to smuggling

6. NNPC being propped up by billions of naira that we should be spending elsewhere

7. A growing deficit which we have to borrow to cover for.

obynzo:


In what way or you just decide to yap rubbish as usual.

obynzo:


Are this dense that you don't know that Saudi earns far more revenue than us, also it is cheaper to produce oil in Saudi that in Nigeria

habsydiamond:
I won't argue.. all I need know is if the government remove subsidy without planning it will backfire on the masses

CheapHomes1:


since you arent dense, can you tell us the meaning of the word "how"? meanwhile, help in answering the following.

How did you arrive at your definition of subsidy? How is this the meaning of subsidy...."Subsidy means that we set the price of fuel below what it costs to produce because of poor Nigerians".

How is Nigeria importing fuel because of subsidy?

How does lack of the profit you talked about cause

1.Sabotage...for more free government money

2.More and more corruption.

How do Saudi Arabia and UAE earn far more revenue than we do?

IbeOkehie:


No, the first thing to do is completely remove government from dictating prices. Also sell the government refineries. Then investors will build as many refineries as needed.

obynzo:


Dude the more you write epistles the more you sound ridiculous in your argument

ufotunang:
...to first of all stop government from dictating price of fuel... that means payment of fuel subsidy will stop and be removed... then if fuel subsidy is removed without refeneries working and nigeria still import fuel...then prices of fuel will be up to 600 to 700 naira per litre which will increase prices of food stuffs, goods , products, transportation and more suffering and hardship to nigerians...