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Nairaland Forum / Nairaland / General / Politics / Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers (23158 Views)
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Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:10pm On Jun 02, 2023 |
airsaylongcome: You see why I don't trust any politician? At any rate, GEJ should have had the strength to say NO, and removed the subsidy. Oga, you don't want the subsidy gone. Forget all this story...just accept you want the subsidy to remain. And you are not wrong. The problem was, it was making us broke and broke. And if it had gone in 2012, we would have all been the better for it. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Nice2023(m): 1:16pm On Jun 02, 2023 |
taylor88: Big stone for that matter. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by VeeVeeMyLuv(m): 1:17pm On Jun 02, 2023 |
nairalanda1:Can't the govt think and create new wealth for the country? Nawao |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by airsaylongcome: 1:18pm On Jun 02, 2023 |
nairalanda1: That's a whole new level of assumption to say I don't want the subsidy gone. I just spent ₦25k filling up my tank. That's at least 2.5x what I used to pay. I'm mostly unaffected by the subsidy removal. I've got my entire home powered by solar/inverter. Like I literally don't know when there is a power outage. I have not used my generator for more than 100 hrs in total in the past 2 years. But, most Nigerians aren't like me. They will be heavily impacted by the removal. Many people buy petrol because they want to power generators for home or small business use. If the government had ensured that electricity was very available before removing subsidy, I would have no qualms. When subsidy on Diesel and Kero was removed, we were told it would be used to provide infrastructure for Nigerians. All lies. Many many years after that subsidy removal, electricity is non existent. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:19pm On Jun 02, 2023 |
VeeVeeMyLuv: And creating new wealth is going to happen in 2 days.? Look, Buhari and all the past governments were awful in wealth creation, I don't deny that. And I am angry that Tinubu has taken over. I don;t expect much. But at the moment, we cannot be crying over what we should have done, we should be focusing on measures we need to take NOW. 1 Like |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:20pm On Jun 02, 2023 |
airsaylongcome: If you want the subsidy gone, stop attacking me with long story. I want the subsidy gone...and have wanted it for eleven years. Good afternoon. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by plentyz: 1:23pm On Jun 02, 2023 |
Only you go suffer taylor88: |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by airsaylongcome: 1:26pm On Jun 02, 2023 |
nairalanda1: If you see asking for answers as "attacking me with long story" then yeah it's safe to leave you alone |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:28pm On Jun 02, 2023 |
airsaylongcome: Ask your government, not me. Subsidy must go. Things cost money. We cannot be paying N1 for something that costs N10000. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by airsaylongcome: 1:30pm On Jun 02, 2023 |
nairalanda1: You seem to b irritated at my line of questioning so I will stop. Have a great day |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:31pm On Jun 02, 2023 |
airsaylongcome: Because you think I am a government supporter, and because you think my support for subsidy removal means I support 'oppression' That's why. You guys don't care to know why. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by MisterBanny(m): 1:36pm On Jun 02, 2023 |
Jogs1900: True talk |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Lifestone(m): 1:41pm On Jun 02, 2023 |
samwillyco1:Evil policies like subsidy is why it's difficult for youth to get employment. Spending a whopping N7trillion on subsidy leaves nothing to support other intervention program like affordable credits to MSME that should be engine block for employment in Nigeria as it is in developed economy. An investment in infrastructure will lead to increased demand for factors of production which includes Labour. As a Country, there are far more easier ways to create employment in Nigeria without stress. Just bring back the jobs. For instance, local refinery of Dangote has brought back over 150,000 direct jobs and probably another 200,000 indirect jobs will be created. Now imagine we put in place a policy that mandated all primary products to be at the least partially processed in Nigeria. Examples are things like Cashew, Cocoa and hide & skin etc, I guarantee you, only with policy twinkling, Nigeria will regain over 500,000 jobs from those few Commodities that we currently exporting in the primary form. We are simply exporting the jobs for our youths as away. We need sense as a Country 1 Like |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Skepticus: 1:41pm On Jun 02, 2023 |
nairalanda1: Now, Subsidy don go with the money being diverted to other "useful" projects. It's the same thieves who benefited from the Subsidy scam that with benefit from the money diverted. Make una dey deceive unasef. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:42pm On Jun 02, 2023 |
Skepticus: LOL....and you expect changes in three days? Good afternoon. Come back in a year. (And yes, like you, I don't expect much change. We need to do more than just remove subsidy before we can see a good economy. A lot more). |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by airsaylongcome: 1:46pm On Jun 02, 2023 |
nairalanda1: I don't see you as a Government supporter. I'm just questioning. Yes subsidy should go. But so also should NEPA blackouts. In 2012 when I was pushing for the support of subsidy removal, I was seen as pro-GEJ, pro-government. Which wasn't true. My grouse is with the way the current regime have gone about it is because they seem to be placing the cart before the horse. For 8 years, personalities in support of this new regime were part of the previous regime. And during campaigns we were told that any government that couldn't resolve power outage issues in 6 months was not a serious government. They had 8 years to solve that but didn't. If power outages are resolved, the volume of petrol we "drink" will reduce. Ultimately reducing the cost of production for small and medium businesses. Remember that the demand for petrol is very inelastic. There is almost no substitute for it. Meaning that people's consumption for it will remain the same irrespective of price. If people can no longer afford to maintain their current level of consumption then it has a big impact on productivity. And ultimately on GDP. If a business cannot afford petrol for 8 hours operations, they will reduce it to say 4 hours. Meaning they become less productive, resulting in lower GDP and ultimately poorer people. Unless I'm thinking about it incorrectly. Government should have focused on improving power distribution. That would have reduced subsidy consumption making it easier for the government to completely eliminate subsidy. The problem isn't with subsidy. Saudi Arabia still subsidizes petrol. The problem was in the corruption going on within the subsidy payment. Corruption that a lot of people within or aligned with the government benefit from |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by odduduwa: 1:49pm On Jun 02, 2023 |
richidinho:u don dey wail ooo |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Skepticus: 1:53pm On Jun 02, 2023 |
nairalanda1: You won't get one (a good economy) in the next 16 years if a litre was increased to N2000 per litre with Nigerians paying with their blood, and the Federal Government "saving" enough money. It's not about being pessimistic or partisan politicking. It's just a deep of understanding of how the Nigerian system works which is cruel on the mind when one views it realistically. Governments of the past have been yelling about subsidy being a scam but has never come out to name the scammers nor deal with them. Follow the money, you'll get to the root of the crime is what is known to criminal Investigators, worldwide. As long as you have this influential scammers walk around freely, the diverted funds will surely "vanish" through the same route. When there are no consequences for those who have perpetrated the subsidy scam (who are also influential enough to exploit from the newly diverted funds) and no way to cushion it's effect on the poor, overstretched citizenry, all you have is another elaborate scheme that makes a few rich, more citizens poorer and a total waste of time and resources. It's basic understanding. 2 Likes |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Lifestone(m): 1:53pm On Jun 02, 2023 |
airsaylongcome:Very brilliant argument. However, a country that pays over N7trillion to support consumption and borrow to pay recurrent expenditure is heading toward bankruptcy. Provision of distribution capability of the country will require massive investments in power infrastructures both at the upstream and Disco level, where will the resources come from if we have used everything to do subsidy? Yes, while I concur that fixing the power sector is critical, we must first free the resources to be employed to do that by killing the monster called subsidy 1 Like 1 Share |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 1:57pm On Jun 02, 2023 |
Skepticus: Even if we got rid of the scammers, subsidy costs would rise and rise because of the nature of the beast. And yes we need to do more than just remove subsidy. We must industrialize |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by ALLNIGERIANSMAD(m): 1:58pm On Jun 02, 2023 |
taylor88:kicking stone 🪨 can be terribly painful 😖😣 |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Nicolo360: 2:02pm On Jun 02, 2023 |
Enddy50ty: Nigerians aren’t futuristic, only live for the now. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by PROPEACE: 2:02pm On Jun 02, 2023 |
Lifestone:Increase fuel price, increase salary, cost of transportation and price of goods and services increases, inflation sets in, value of the naira falls, cost of petrol increases again and the cycle goes on. That is how a country's currency becomes toilet paper. Minimum wage will be #1m but a loaf of bread sells for #10,000. We will learn our lesson soon. China, Malaysia, Singapore etc did not attain their current height by listening to IMF and world bank, but all our mumu leaders, Tinubu, Atiku, Obi agree subsidy removal is the way. Let's ride on. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by airsaylongcome: 2:03pm On Jun 02, 2023 |
Lifestone: Thank you for the compliment. So my grouse withis round of supposed removal is two fold. Why did the C-in-C actively oppose it years ago when the burden was lower and we were earning more from crude oil sales? It was a small leak then and we could have easily absorbed the impact as we had a stronger Naira (compared to now). Did he oppose it for personal political reasons? Or did he think it was the best decision? Secondly, we were promised a lot of infrastructural development when government removed the subsidy from diesel and Kero. Several years after has that promise been delivered? If it hasn't, why should we believe the government that they will deliver now? Also, all the loans supposedly taken by the last regime for infrastructural development were they fully utilised to develop that infrastructure? Or were they basically looted. Nigeria Air being a case study |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Treadway: 2:10pm On Jun 02, 2023 |
airsaylongcome:leave nairalanda1. I have been reading his posts. Theoretically, his point is clear, and even a half-educated person can understand the whole thing. Yea, the subsidy is not sustainable, but what is the problem of Nigeria? Terrible/corrupt leadership or a fuel subsidy? You already answered the question with the bolded. You, me and Nairalanda1 will be alive to revisit this topic in 4-5years and we will see how the removal of petrol subsidy solved or did not solve Naija's problems. As always, argumentators always stick to this subsidy thing like it is a magic bullet that will solve everything. Reduce the wasteful cost of governance, they downplay that..i have engaged them and seen this trend a lot with many monikers on this subsidy topic, won't be surprised if it is the same person behind the moniker sef...the last one I remember engaging was one Kassandra moniker.....so much crude stolen for years until PO sounded an alarm at the tail end of Bubu administration, and some brief gra-gra was done. I'm sure as we type more is still being stolen. Diesel deregulated for 3+years, price went from 800 to 690 last I checked. Kero deregulated much earlier, I no even follow the price of that one whether e drop at all. What respite have Nigerians gained from both subsidies that were removed??. May God spare us even beyond the next 5years. I will be interested in continuing this convo then. 1 Like |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Lifestone(m): 2:14pm On Jun 02, 2023 |
PROPEACE:I don't agree with this doomsday view. Remove subsidy. How on earth can we be subsidizing consumption? Use the release from subsidy to support the production base of Nigeria and you will have accelerated growth. There are other monetary and fiscal policies to deal with inflation, but first, get rid of this waste. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Nobody: 2:15pm On Jun 02, 2023 |
LeoDeKing: You no get talk..just drop phone |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by baralatie(m): 2:15pm On Jun 02, 2023 |
Poanan:2012 rebellion was just senseless! And all the people that were involved all of them are practically on a mum code! Which says a lot |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Polyol(m): 2:16pm On Jun 02, 2023 |
Nobody is talking about providing jobs for the unemployed, it's just about increasing minimum wage from 30k it's presently in while those of us with zero naira as minimum wage wallow in poverty. Minimum wage should not be increased. Let's maintain the status quo till supply and demand does the needful. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by nairalanda1(m): 2:16pm On Jun 02, 2023 |
Treadway: Noted. At the end though, improving Nigerian economy needs more measures than just subsidy removal. But at the monent, no matter what you think of me, the cold hard fact is we are borrowing money to pay for subsidy. Keep it up and in a few years time we would be broker than sri lanka. |
Re: Subsidy Removal: N30,000 Minimum Wage No Longer Realistic – Workers by Nobody: 2:16pm On Jun 02, 2023 |
kelvindj98: We know say you don hear but it's better to remind you |
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