Is Government To Blame in Time Of Global Economic Crisis

[Wiwo]

A lot of people woke up to a surprising rise in the price of petroleum products PMS from ₦937 - ₦995 per litre to ₦1300 - ₦1267 in Abuja, Lago and other state, which have caused a lot of outcry in the Nigeria politics citizens are blaming the government for the economic conditions.

Global crisis as we know have it effects on the economic of all members countries of the world, na why we call am global world be that, and other things is that situation like this war in Ukraine Russia and United States Iran and other global world powers will have a lasting effect on the economy just like what we are seeing.

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.
https://x.com/i/status/2030773430488883324

[Felicity_Tide]

Is Government To Blame in Time Of Global Economic Crisis

I'm still yet to understand these whole economical troubles that ends up affecting everyone both directly and indirectly.
Is Nigeria not an oil producing nation?... Then why is the oil crisis of another nation affecting us?. AFAIK, this disruption in oil flow was supposed to affect countries that heavily depends and buy from others. but i'm not exactly sure of why the country_(nigeria), still finds itself suffering in a drama like this.

And as for the question, of course, the government is to be blame for everything. A certain government started a war somewhere, and another certain government somewhere_{(in Nigeria)} is busy turning the Governmental system into a one political party system, while still afraid of a free and fair election. 31/36 state is currently being ruled by one party, but still nothing to show for. At this point, every fingers should be pointed at the government.

[Hypnotizer]

Is Government To Blame in Time Of Global Economic Crisis

I'm still yet to understand these whole economical troubles that ends up affecting everyone both directly and indirectly.
Is Nigeria not an oil producing nation?... Then why is the oil crisis of another nation affecting us?. AFAIK, this disruption in oil flow was supposed to affect countries that heavily depends and buy from others. but i'm not exactly sure of why the country_(nigeria), still finds itself suffering in a drama like this.

We are an Oil producing country..yes

…But do we refine the Oil here in Nigeria? I know about Dangote Refinery but the problem is NNPC, they’re still exporting raw crude and buying refined ones to import even though Dangote has enough to sell to them, and since the global price of oil has increased recently after the war started…it means they sell the raw crude higher and buy the refine ones higher also and that’s why the prices keep increasing because most of the petrol are imported.

And as for the question, of course, the government is to be blame for everything. A certain government started a war somewhere, and another certain government somewhere_{(in Nigeria)} is busy turning the Governmental system into a one political party system, while still afraid of a free and fair election. 31/36 state is currently being ruled by one party, but still nothing to show for. At this point, every fingers should be pointed at the government.

Nigeria political matter don tire me….

[DYOR+BTC]

Before concluding on who we are and not to be blamed in the country's collapsed economy that has lead to the increment in price of all, i think the involvement and decisions of the government on issues like this should be outlined.
The primary function of every government is to utilise the nations resources to provide a conducive environment for all the citizens, imagine the position of Nigeria when we talk about crude oil production in the world we will see they are in a better position but how this resources are managed is one thing that gets me upset at times. In Nigeria three different refinery where established to aid in the refining of crude but have been scrapped because of the greedy mindset of our leaders that knows if those refinery where functional there wont be opportunity to steal all in the name of fuel importation. Honestly speaking that of Nigeria deserves to the channelled to the hands of the government because they are the reason we all are suffering.

[Charles-Tim]

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.
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The war that is happening in Iran caused what is happening to petrol price. If the war continues and if anything related to war is destroyed and if the Strait of Hormuz remained partially closed like a total closure, it is very possible that oil price will still continue to increase. Do not blame this on our government, blame it on who are casing war in Iran.

[ArabBTC]

A lot of people woke up to a surprising rise in the price of petroleum products PMS from ₦937 - ₦995 per litre to ₦1300 - ₦1267 in Abuja, Lago and other state, which have caused a lot of outcry in the Nigeria politics citizens are blaming the government for the economic conditions.

Global crisis as we know have it effects on the economic of all members countries of the world, na why we call am global world be that, and other things is that situation like this war in Ukraine Russia and United States Iran and other global world powers will have a lasting effect on the economy just like what we are seeing.

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.
https://x.com/i/status/2030773430488883324

The government is to be blamed 100%, everything that happens in a country wether good or bad is accredited to the government because holistically any decision that the leaders take affects the masses one way or the other, that is why we have to be keen on who we appoint to rule or occupy various offices. Take the removal of fuel subsidy for example its a good thing if you look at it theoretically but removing it at a time when you just assumed office, a time when you are yet to understand the economic landscape of the country is when the problem started.

Even the money gotten from the subsidy removal is not even invested back into developing the country instead the president and governors are sharing the money, using it for one vacation or the or with little girls, so tell me why the price of fuel and other goods won’t keep on skyrocketing, our refineries are not working still because of poor government, without missing words i believe that entire hardship we are facing is from the government, and with the way things are going i don’t think this current government has any good plans for the masses.

[Africolo]

Is Government To Blame in Time Of Global Economic Crisis

I'm still yet to understand these whole economical troubles that ends up affecting everyone both directly and indirectly.
Is Nigeria not an oil producing nation?... Then why is the oil crisis of another nation affecting us?. AFAIK, this disruption in oil flow was supposed to affect countries that heavily depends and buy from others. but i'm not exactly sure of why the country_(nigeria), still finds itself suffering in a drama like this.

And as for the question, of course, the government is to be blame for everything. A certain government started a war somewhere, and another certain government somewhere_{(in Nigeria)} is busy turning the Governmental system into a one political party system, while still afraid of a free and fair election. 31/36 state is currently being ruled by one party, but still nothing to show for. At this point, every fingers should be pointed at the government.

We are an oil producing country and as such we shouldn't be experiencing petrol scarcity or sudden increase in prices of fuel but we face this challenges because Nigeria is still exporting crude oil to foreign country to refine for us and the war has affected those countries that refines and import to us, this is where we blame our government. We have about 3 to four refineries in Nigeria that the government has refused to work on and rehabilitate them into a working and functional refineries to end this hike in price, we have Port Harcourt refinery, Warri refinery, Kaduna refinery all of it which are not working, yet nothing is done to revive them.

Governance was not supposed to be ruled based on party basis, after elections leaders of other parties where supposed to log heads together and see how they will make the country work but here in Nigeria reverse is the case, everyone wants to embezzle funds and make wealth will in leadership positions, the government is to be blamed for this particular global economic crisis, had it been our refineries were working we won't get to this point we are now because our refineries would have been refining oil and  be supplying to us.

[Wiwo]

We are an oil producing country and as such we shouldn't be experiencing petrol scarcity or sudden increase in prices of fuel but we face this challenges because Nigeria is still exporting crude oil to foreign country to refine for us and the war has affected those countries that refines and import to us, this is where we blame our government. We have about 3 to four refineries in Nigeria that the government has refused to work on and rehabilitate them into a working and functional refineries to end this hike in price, we have Port Harcourt refinery, Warri refinery, Kaduna refinery all of it which are not working, yet nothing is done to revive them.

The Nigerian problem is both internal and external effects of the war, I agree with that if a country is self sustainable then a sudden change in international politics won't have a drastic effects on the price of goods within the country, just as you mentioned, hard it been there is a government own refineries are working we should have government control over the price of petroleum.

The problem right now is not that Nigeria government is making hell of gains right now from crude oil sales, but the finished good which is PMS and cores are the problem we don't have such refining capacity as a government.

Out of the 3 Nigeria refineries none is working as that is because of intensive corruption within the leadership system.

[Callido]

The war that is happening in Iran caused what is happening to petrol price. If the war continues and if anything related to war is destroyed and if the Strait of Hormuz remained partially closed like a total closure, it is very possible that oil price will still continue to increase. Do not blame this on our government, blame it on who are casing war in Iran.

Is it not time we turn back to Dangote refinery, it may not be enough and there will still be scarcity keeping the price up, but a bit of expansion can save us a few dollars cut from what we are buying now. If the war should last longer, that means the price will continue to sky high each time, the war caused this, but Nigeria is grown and large enough to refine crude oil inside our country.

[AmaGold70]

In the case of Nigeria, the federal government of Nigeria is to be blamed. Nigeria is among the top oil producing nation in the world but surprisingly, we depend on oil importation to survive. Is very shocking to see that Nigeria has good three major refineries owned and controlled by the federal government of Nigeria, but non of these refineries is working, and they are all short down. All these are politically motivated, the oil cabals are fully involved and is also in alliance with the federal government.
Another Major cause of fuel hike is the removal of fuel subsidy, when their was fuel subsidy, the price of fuel was ok and people were not complaining so much.
There are certain benefits which citizens of a country use to benefit from the government like this subsidy and when it is removed, it causes many problems, not only on the fuel but also on the economy.

[Gozie51]

Sometimes we are stocked in what way to think. If for instance the government subsidize the price of oil for Nigerian people then you would see new businesses relating to the sale of fuel across the border because they will buy it cheaper in Nigeria and sell it higher to other African countries thereby shortchanging Nigeria economy. I think if the borders of Nigeria was very well secured that it will be difficult to do unapproved business around it then it would have been easier to look at. This is what the fuel subsidy remover is all about majorly. So now that this high price is coming as a result of the war going on, maybe it will be difficult to be managed if fuel was subsidized. I think it is something that even having refinery would still be difficult since it is global crisis and prices in other countries is high too, unlike in a normal situation when the price is stable. So if fuel is sold cheaper in Nigeria, it will still be lifted to be sold higher to other African countries. Wetin person go even do self.

[Chilwell]

The war that is happening in Iran caused what is happening to petrol price. If the war continues and if anything related to war is destroyed and if the Strait of Hormuz remained partially closed like a total closure, it is very possible that oil price will still continue to increase. Do not blame this on our government, blame it on who are casing war in Iran.

Is it not time we turn back to Dangote refinery, it may not be enough and there will still be scarcity keeping the price up, but a bit of expansion can save us a few dollars cut from what we are buying now. If the war should last longer, that means the price will continue to sky high each time, the war caused this, but Nigeria is grown and large enough to refine crude oil inside our country.

One thing we don't understand about this dangote refinery, some of us believed that dangote refinery will be an advantage to the citizen of the country, i will say yes, but in a different way for instance lack of fuel will be gone, but it will not affect the price of the fuel simply because even Dangote's only  advantage is that he will pay in naira equivalent to what the international market are buying in dollars. I saw this explanation day before yesterday, but honestly I feel so disappointed with what Nigeria government did, they should have make something good for us even though they remove the subsidy, but at least since we have refinery in our own country I think is better for us to do benefit something to make our life batter.

[Iamgoat]

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.
http

The war that is happening in Iran caused what is happening to petrol price. If the war continues and if anything related to war is destroyed and if the Strait of Hormuz remained partially closed like a total closure, it is very possible that oil price will still continue to increase. Do not blame this on our government, blame it on who are casing war in Iran.

Well. I just want to believe our government is also to be blamed regardless for not putting their economy together and always cause people to pains in any slight economic crisis across the globe. I agree that the increase of oil is a global thing as it is mainly caused by the Iran war which is orchestrated and masterminded by the USA right now but what I’m also saying is as a country, what’s our  plan B because some countries will always build alternatives to these things to avoid these problems in the future but in the case of Nigeria, we are only vulnerable to the international problems and have never had the plans to build a strong economy which can survive on its own. Now Iran’s new leader has just vowed he will ensure he brings down the United States and Israel to avenge for his father’s murder by sustaining orders to shutdown the Straits of Hormuz which could mean another possible phase.

[Cryptoprincess101]

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.

Removing subsidy from petroleum products wouldn't have been an issue if the government were sincere about what they wanted to do with the funds that were raised from it. When Tinubu assumed office and removed fuel subsidy, he talked about key sectors that the money will be channeled to, but up till now there is no account of what they have done especially in the critical infrastructures he talked about which includes infrastructures for power supply but the country have suffered many power failure resulting from the National Grid collapse which has happened on many occasions. The problem is that the Nigerian government always look for avenue to cover up their lapses. Nigeria is an oil producing Nation so tell me why the war between Israel and Iran is affecting our petroleum products here. Now that the price of fuel is being hiked, it is going to affect the prices of other things in the country because it has already become a norm that whenever the price of fuel skyrockets, every other thing follows.

[Wiwo]

Who to blame, should we blame our government for removing subsidy and making other adequate arrangements for situations like this or the war among global actors, this post on CNN about global fuel prices surprises us above $100 in most countries around the world.

Removing subsidy from petroleum products wouldn't have been an issue if the government were sincere about what they wanted to do with the funds that were raised from it. When Tinubu assumed office and removed fuel subsidy, he talked about key sectors that the money will be channeled to, but up till now there is no account of what they have done especially in the critical infrastructures he talked about which includes infrastructures for power supply but the country have suffered many power failure resulting from the National Grid collapse which has happened on many occasions. The problem is that the Nigerian government always look for avenue to cover up their lapses. Nigeria is an oil producing Nation so tell me why the war between Israel and Iran is affecting our petroleum products here. Now that the price of fuel is being hiked, it is going to affect the prices of other things in the country because it has already become a norm that whenever the price of fuel skyrockets, every other thing follows.

For me, removing fuel subsidy wasn't an entirely bad idea, where the government failed in Al the subsidy thing is the fact that their never make arrangements on ground, just like clear and constitutional approved projects that the money will be channeled to, and another thing is that they never make any adequate arrangements and no how citizens can easily go about their life with easy even when the subsidy is removed.

The lack of all that is the reason for the negative impact of fuel subsidy removal on the economy at large and even citizens list hope in the government with the way the welfare of the citizens are neglected.