hopexter:


So much talk after saying you are right? Ok I know your likes so say no more

I'm sorry I shouldn't have tried to show you another point of view. I know insults when I see them and I try hard to avoid them. Have a nice day sir.

hopexter:


Be positive minded for once. China didn’t get there by having such mindset of yours. It’s something we need to embrace step by step even if it takes years to actualise or don’t you think so?

Yeah you're right. But you should also remember that with each 24 hours that pass, we have one less day to live.

Mind you, Ibrahima Traore of Burkina Faso assumed office about seven months earlier than our president. You should read about him.

This man knows how to tickle his people sha

DeLaRue:
Finally an intelligent thesis that mirrors what I have been saying all this while on Nairaland.

Any Presidential candidate that promises you things will be honky dory under him and petrol will be cheap, electricity will be constant, prices of goods will suddenly be cheap is living in cloud coockoo land.

You can not keep borrowing to live a middle class lifestyle when you are on minimum wage. Eventually your debts will catch up with you and you will go bankrupt and lose everything.

Over the past decades, Nigerian governments spent more than the country was earning, subsidising this and that, in order to keep the people happy. Those past Presidents feared being unpopular and so gave people what they wanted knowing fully well it was financial poison that future generations will pay for dearly.

Nigerians have got used to things being artificially cheap due to subsidy (education, petrol, electricity etc) that when a new President comes in and say the country will head for the rocks unless we change things now, Nigerians say he is the worst President ever.

Niger Republic, Ghana, and other neighbouring countries buy petrol at around N1300 per litre. But Nigerians want it at N300 or less

Given that both Ghana and Niger Republic also produce crude oil, what is so unique about Nigerians that makes Nigerians feel so entitled to super cheap petrol?

Unfortunately 99% of Nigerians, including the educated ones, just don't understand economics at the level of a currently poor country like Nigeria.

Lets do a bit of maths sir.

Nigeria's GDP is presently about $250b. At 10% tax to GDP, it means tax revenue stands at about $25b and other revenue sources at $225b. With a population of about 200m, GDP per capita stands at $1,250.

At the IMF's recommended 15%, tax revenue has to go up to $39.7b taking the GDP up to about $265b. GDP per capita goes up to $1,325.

Let's even hypothetically jerk the tax to GDP ratio to 50% making it the highest in the world. Tax revenue will go up to $225b taking the GDP up to $450b and GDP per Capita to $2,250.

How much change would that be? How does that figure compare to the rest of the developed nations?

Mind you, China has a tax to GDP ratio of less than 8% yet a GDP per capita of about $13,000. And the Chinese are some of the most highly subsidised people on mother earth. How can we reconcile that?

The sooner we realise that our problems are not from the pages of economics textbooks but with issues such as bad leadership and corruption, the better for us as a people.

MichaelSUK:
can 500,000 start a police station business >?

Lololololololololo

Wayray!!!!!!

Remman:
I don't get, what exactly is he trying to say? Is it that the price of maggi and onions is determined by the government? Or what drove him to say this? Or i'm the one confused here, can someone help me out?

Actually, yes. Though not directly, they do it by subsidising certain sectors of the economy as required. China does it, France does it, in fact the whole world (Including the USA) does it.

What the nation is experiencing today is a result of the government experimenting with handing off and allowing for the forces of demand and supply to dictate prices as advised by the IMF. It has obviously backfired and they're only trying to tack back control. Same thing happened under Buhari and the dollar rose from about N180 to over N600 to a dollar before the man stepped back in.

professorPABX:


Social Media has become very acidic. Most young people are now distorted and under mental illusions and it is very difficult for them to hear the voice of reasoning. Black man may never recover with the kind of people being groomed today .

What are the repercussions? The subsidy removal and the floating of Naira according to you made PMS being sold at =N=1,700 or more at neighbouring countries to be smuggled out and also leads to food being smuggled out.

So, if NNPC or Dangote sells at =N=300 per litre and Naira supported with Dollars from loans to be paid by Nigeria to bring it down, the smuggling of foods will stop leaving only Petroleum products to be smuggled out and the prices of PMS to come down at neighbouring countries all at the expenses of loans taken by Nigeria.

The technicalities involved is very high and political. You and your associates can continue if you cannot decipher the situation in Nigeria.

Not at all. However, tightening the borders to prevent smuggling, subsidising energy to bring down the cost of production and discouraging importation of finished goods by increasing duties will stimulate industrial growth and save us scarce Forex in the long run. We wouldn't have to care about the price of petrol in neighbouring countries. But where is the political will to do the right things?

That's what China is doing bro. That's why Chinese EVs are more competitive in the European market and the IMF / Americans are not happy about it.

Dannyset:


It's obvious you don't know a thing or you just feel like ranting this morning as you all always do.

Are you saying petrol is not being smuggled out of the country when it was being subsidized? 🤣😂🤣 You must be one hell of a joker. The whole of our borders were filled with fuel smuggling business. Go and find out why there was a protest in Niger when the subsidy was removed so to speak.

What most of you don't know is that, no matter what, fuel will be smuggled out of Nigeria to Benin and Niger because it is officially more expensive in those countries even if it is sold for 5k here.

It is just unfortunate that our customs are almost useless and we also have lots of unmanned and illegal borders.

I don't know if the person you quoted has replied you but this is what I think his initial post means:

1. Subsidy was never our problem. The IMF presented subsidy removal as a major solution to our economic woes and all three frontrunners in the last elections believed the idea. Baba won and hurriedly implemented the policy. Fast forward to a year later, not a single benefit has been recorded. Instead, subsidy has quietly creeped back in and this announcement from the FG is probably a ploy to further increase prices.

2. Corruption is the actual bane of our problems: I mean, if subsidy has been removed then it means the petrol that is being smuggled out should be at no extra cost to the FG regardless of how much it is sold over there. It would be a matter for the customs to tighten the borders so as to increase revenues. Something that should have been done even during the subsidy regime. Yes, smuggling could have been curtailed and inflation rate wouldn't have been so high.

Let's not deceive ourselves bro, a developing nation like ours needs massive government subsidies in select sectors such as energy and it's likes. Producers must be able to produce at costs where selling at prices that are affordable to average Nigerians will still earn them decent profits. They should also be protected from foreign alternatives by increasing import duties on finished products. That's how to encourage local production and strengthen the local currency.

Yadid:
Was subsidy the real problem? No, never. Corruption has always been the issue, corruption in the whole subsidy thing. Who throws the baby away with the bath water? Who stops feeding his or her child just because some petty thieves are stealing from the child? Rather than address the headache, the FG cut off the whole head, while a number of ignorant Nigerians cheered on.

Thanks bro. When we said it earlier, some people said it was because we wanted "cheap fuel". Tell me how a low income nation is supposed to develop her manufacturing capacity if the cost of production is sky high and cheaper alternatives can be imported. Yet they expect that by going after bureau de change, exchange rate will magically drop.

frog12:
what executive bill ??

Read through the report bro.

helinues:
300% and no be say they are using minimum wage to pay them oo.

These senators are just insensitive. Of what % of increase should the labour and their workers be expected.

We will continue to be getting things wrong as long as we continued to be electing incompetent people into both Senate and HOR Those are places where the real changes should start from.

It's an EXECUTIVE bill that was passed bro. So yes the bolded is right but I'll rather word it this way:
We will continue to get things wrong as long as we continue to elect incompetent people into all positions of power

Akbil:
Didn't they vote for him again, oh so truly election is a sham?

Wike is almost like Akpabio. Very careless. This statement can lead to and indictment against INEC but he doesn't care cos he believes him and his cronies are in charge. But then again, aren't they?

SmartyPants:


It was only a friendly reminder Mr man. There are well-detailed laws, regulations, and enforcement bodies in charge of environmental protection. Should be obvious, shouldn't it?

Are those laws applicable in the Niger Delta?

SmartyPants:


Which part of that statement suggests this? You need to be more creative. You are losing steam.

The fact the he even had to mention it does. Things like this should be a matter of policy and not just word of mouth.

helinues:


But majority of the serviced debt wasn't obtained by this government

But they're obtaining more loans (that end up being looted anyway) which will be serviced by future governments. And those future governments will blame the past and the present government while obtaining loans of their own which will still end up being looted. So you see we're stuck in a wheel bro.

bigiyaro:
there is no sabotage anywhere, fx no dey fear face, it's bigger than Nigerian way of doing things. If you want strong naira, tell your politicians especially governors and ministers, to stop stealing the naira and converting it to dollars for hiding, Tell Tinubu to as a matter of priority make the Nigerian environment condusive for business and production. Tell the military and individuals to stop stealing crude, tell Nnpc and CBN to remit all crude sales completely, also tell your fellow Nigerians to stop importing toothpicks, biscuits and all manners of bullshi*t. Until then, we all be in this mess.

Absolutely!! Some of us have said this for long but unfortunately those people seem to lack the mental capacity to comprehend. End corruption and well be completely out of this mess in less than two years.

nairalanda1:
Strong currency nations are nations that export manufactured goods and services, and allow the free market to operate

There's no such thing as free market anywhere in the world bro. If you look closely enough, you'll find some form of government regulations. Free market is nothing but a recipe for disaster.

Menclothing1:
This is good the ship that comes to Nigeria are smaller version so they carry less goods

Well I wonder how this helps. Last I checked, these small ships usually go back empty which is why we're having the Forex crisis. Aren't we supposed to find ways to fill up these "small" ships as they leave first?

Nice. But erm, what happened to the $14b from India? Haven't heard anything about that in a while. Or have I been under a rock?

Coldie:
So electricity is more than minimum wage lol

E shock you?

Bag of rice nko?

Coldie:

So electricity will be 6times the minimum wage monthly?

Na wetin your fellow Nigerians dey support be that na. May tribalism and religion not finish us in this country.

helinues:


Sadly poor but paying more on electricity then us.

You seem not to understand my point bro. We can't be comparing ourselves with countries that are obviously poorly managed. It's like saying we must suffer for nothing because our neighbours are suffering for nothing. If those neighbouring countries were better managed, they'd be doing better.

Let's be honest, what we're passing through is far from ideal by any standard. And even though it didn't start with this administration, we must make them understand that they were not elected to maintain the status quo of poor management.

VeeVeeMyLuv:

How much income do those businesses and individuals generate monthly? Why are you guys wicked?

You want Nigerians who are being payed monthly salary in severely devalued nearly worthless naira to pay for the amount that those in UK( £ ) and America ($) pay for electricity?

This is by the way but the average tariff in the US and the UK is less than N225/kWh.

helinues:


How about other African countries?

You mean it's better to compare ourselves with African countries that are sadly poorly managed? What then are we striving for, if not to do better than some failed/failing states?

helinues:
Lol

Na we want stable electricity now

Ironically, the "almighty" US and UK don't pay this much even with a far higher minimum wage and far better supply. It's well.

Reno is on a mission. Nothing more.

Whatever he's saying is deliberate and devoid of his conscience. You don't need to look to far into his past to understand this.

Amumaigwe:


Like Patricia Etteh?

Or Stella Oduah?

yoruboid:


How come none of those that ever worked with Obi as commissioners, permanent secretaries, politicians etc aren’t publicly in support of his ambition unlike PBAT that has everyone that ever worked closely with him sticking out their necks for him

That should tell you something

We can debate this if you won't turn it into a political argument.

Sleekfingers:



It is not childish when some obiidiots went all out, threatening his child abi?

Those who threatened Reno's child are obviously as foolish as Reno is. Simple.

OAFMods:
That is not the bane of his argument, he said you should fact check him if he is lying or not.

No vex o. But have you fact-checked him yourself?

helinues:
Had Peter Obi won the election and becomes the Nigeria president, would his supporters have tolerated the oppositions ( Apc or Pdp) to be wishing Obi to fail as the president not to talk about the country.

I am yet to understand how reasonable of Peter Obi's supporters have been wishing evil to the country just because their principal loss , someone who came third oo.

Would Obidients have tolerated evil wishes from the oppositions about Obi's government.

Obidients should stop dishing foods they are not interested in having some taste.

Obi loss, move on and wish the country the best instead of calling any progressive moves by the government propagandas

Answer this question bro. And please be very honest with yourself. If Obi or Atiku had been president for a year and things are as they are presently, would you just keep quiet and watch unconcerned for the next three years?

delpee:
IBEDC covers a very large area and it's so ineffective. I think they cover Oyo, Ogun, Osun and Kwara states. Many places in Ibadan city would fit in perfectly in Band E.
Perhaps it should be split to 2 or 3.
Lagos has 2 DISCOS.

Many places in Nigeria as a whole do not even qualify for band E.