I no dey see all this APC miscreants and terrorists members running their mouths here anymore, abi the fuel increases don scatter their weak Blokos?

nairalanda1:


Damm, you don't even need to support Tinubu to relaize that subsidy is bad for the economy.

The problem is, the cost of production of fuel as well as the amount of fuel used in this country rises. Like we went from 40 m liters a day in 2013 to 80 million now.

The more the cost of producing fuel rises, the more the cost of subsidy rises. And that means we would be taking money from the budget for other things to fund subsidy.




In 2012, Jan....the landing cost of fuel was N99, and the pump price, as set by government was N65. In Sept 2022, the landing cost had gone up to N502.

Now, if we had kept pump price at N65 up till 2022, the amount of money we would have been spending on subsidy would have risen from N34 per liter to N 445 per liter.

Let's not forget that daily consumption has gone up from 40m in 2012 to 80 m in 2023.

At the end, the budget won't be able to cope, and the borrowing would be pro-max

People will not understand. It is crazy using 95% of our revenue to fund fuel subsidy.