Why am I just seeing this utter bullshit. The same old stories propagated by his predecessors. I will urge him next time to utilize fewer words and lessen his vocabularies. I hate reading too many words. I don't have time to be reading long story in this current economy na who chop belleful and no problem dey read 45 paragraph

isoftic:
Buhari said the same thing in 2019.

With much hope, we anticipate

It's a lie Buhari never did

Ozommadu:


Enjoy what goodness?? Suffering and smiling no go kee you.

Osun protest today was about what too??

Oloriburuku,you already shifting post. You mentioned Oyo ,now you are mentioning osun again. Ee nii Kure,una no go die better with all una lies and bad wishes for Nigeria. All your bad wishes will surely take over your entire family and generation. Must is be by force for Peter obi to become president? Awon oloshi. All of una no go die better.

Kenmatt:
I stopped reading when I came across; "I will not talk in difficult terms" I will be plain not to talk on economic jargons , as if he was not reading just a written text.


I am a Tinubu admirer but I found so many errs from the speech.

He is hell-bent in subsidy removal, not actually because of the good it will do to our economy but to cut down the power and influence of non elected elites who are making chunk of money via it.

He claimed that as a result of the very big sum of money they make from this, it's a treat to our democracy.

One very important question, what does Tinubu do for a living to have in his disposal the kind of money he has.

NB; I do not support these caucus who are like Parasites to Nigeria's economy but it's like "Baba" was talking out of jealousy, "when one crimbs, he cuts the Ladder"

You be werey. You are tinumbu admirer and you don't even know who tinumbu is and how he developed himself into what he is taday. Naa God go punish you for that your admiration lies. Ee nii Kure. Eyin oloriburuku gbogbo.

ThatCEO:
Talk dey sweet sha.

Let us agree on one thing. The current sufferings of Nigeria is not because of forex exchange but because of fuel hike.

So, if a person creates a fuel/energy crisis, the first thing I expect is for him to tackle that same crisis. Anything other than this makes d entire speech a hogwash.

Baba said he will dish out billions to businesses, release grains n fertilisers, but Baba made zero mention of how to deal with this fuel hike. D only thing he mentioned was about 3k CNG buses, but if I am able to access loan to buy a CNG bus, won't I be a compound fool if I don't charge my persengers like a normal fuel bus?

Is it that across all d appointees, there is no one with enough brain cells to tell him that "look, Baba, if we can't give these people a single refinery, n we can't subsidize fuel, but we hv d 12th largest gas reserve in the world, n those gases requires almost zero refining, why don't we shift these people to gas?"

I don't want subsidy back, but why has Baba not come out to tackle the fuel issue right at its source? Why are they running from CNG or even modular refinery?

Who are the people that own shares in Dangote refinery and why are they hell bent on forcing fuel on all of us, even tho we have gas. And exactly how many of those Dangote shareholders r currently in government?

I did the findings on CNG at Nipco. ₦4000 of CNG will power your 4 cylinder car for 150-160km. A 6 cylinder conversation costs almost 500k. If they place CNG conversion kit on list of items not liable to customs fees, the price will drop by up to 60% especially in places like Lagos. From here, they can now say, Oya go n convert your car at half the price, we will pay d other half.

But over their dead body will they make policies that will directly benefit us because their stinking fingers are all over the oil money of this country n they will do everything to ensure we all buy oil.

Nigeria does not have a fuel crisis issue, what we have are just leaders who will rather feast on our blood than make our lives easy cos their hands are deep in our common wealth.

Say whatever you like about Buhari, but Buhari had tasted some degree of poverty in his life at some point, n even tho he later lived in luxury as a president he still remembered that life is tough on the other side n didn't bring this sort of hardship on us at one fell swoop. These people have never spent their money on fuel since they started their political career n their convoy didn't reduce with fuel hike, u REALLY think they know what the price of fuel is? What we have now na, "may God help us."

A very good analysis..! I wish the President could at least browse through your comments, I think he’ll realize how dumb his words were to Nigerians. Kaai, who do us this kind thing kwanu?

ogododo:



https://dailytrust.com/full-speech-tinubus-speech-on-current-economic-challenges/

I feel happy to witness these days.

My country is having a direction. I am hopeful.

001Lagos:
He ended up saying nothing

Are you sure you don't have comprehension issue? Just asking

I was hoping to read about his plans to resuscitate our dormant refineries. But I saw nothing. Removing subsidy without plans. Joke of a country

Total garbage

isoftic:
Buhari said the same thing in 2019.

With much hope, we anticipate

buhari in speaks during special holidays . And not when things are not going well . Cus buhari believes he is the best thing to happen to nigeria

I know God will surely help us to overcome this turbulence period, pray also that God give you the wisdom and strength to Govern this nation in a Godly way...

You and your fellow sadists are the ones seeing hell because Tinubu stopped lavishing 6tr yearly to your thieving uncles but rather we buy fuel relatively same price other African countries are buying so we can channel the saved money into building the nation's. Am happy that we the 8million voters though outnumbered by the f00lish bigots that voted Atifku and obituari were able to save this country. Your continuous wailing is a proof that Tinubu is on the right path and that enemies of Nigeria are being crushed

Ozommadu:


Stop defending rubbish, speech without action is tantamount to rubbish...just two months in office and Nigerians are seeing hell while tinubu and his cronies share billions to themselves.

People are already protesting in oyo and osun state but you're here disgracing yourself

Kayyy:


Bro, not knocking your ideas, you still didn't get my point, firstly mention any successive govt that has actually blocked any loophole or conduit for corruption completely in this country since inception, you know why ? It's not about you , it's about the workers, even the lowest of the officers have their form of corruption not to talk of the managerial positions. I know how much my friends at Tin Can Apapa were taking home daily about 10years ago and how they spend on me when I go greeting them and none were at managerial level. So it's not about the person at the top , the policies he would put in place would still be managed in the ground, would you as president know how the bush routes would be created to move products ?. Besides there would always be review in the quantity of refined imported products cos people would buy cars and other equipments that use petrol as the years goes on, so wouldn't you be reviewing to capture them ? .

Lastly and most importantly, have you quantified the amount you want to spend on all these programs in a short term and loan it would involved and refinancing and servicing of those loans vis a vis the current debt profile ? You want spend trillions on subsidy and refineries, spending hundreds of billions to manage naira/dollar exchange , increase minimum wage , spend on education etc all these within just 6 months , where will these money come from ? And how do we pay it back hot minding we're still paying the one owed by your predecessor Buhari?, Mind you , you will still be presenting your own appropriation bill for the year 2024 in 6 months with all these your spending ?

Bros, let's not get it twisted. At the moment Nigeria is not yet dead. The fact that previous governments didn't get it right does not preclude the current administration from changing history.

Let me ask you a simple question..... With all the myriad of problems you have listed at the refineries, do you doubt that the same refinery would become functional if it was sold to a private individual eg Otedola? Corruption thrives when an atmosphere is provided for it. We all were here when people were voluntarily refunding looted funds to government when Buhari initially assumed office because of fear of his body language. It just takes making an example of a few people in the system for the others to sit up. Look at what is happening in Niger Republic now that the Military has taken over and people are being threatened with execution if they cannot account for public funds. I'm not saying our own will be that extreme but just imagine..... Would any worker in his right mind risk looting seeing his boss being dealt with severely?

If we clamp down on all these leakages you would be surprised at the amount of revenue we will generate in addition to the funds freed up from inflated subsidy figures. Combine that with some loans to fund the shortfall and relate the economy and watch Nigeria bounce back

You also forget that we also have just collected 500bn from world Bank. First of all that 75b earmarked for senate will be cancelled ASAP. That can go into planting cassava on 150000 hectares of land.

Also if we do a comprehensive audit of Nnpc, customs, Firs and CBN you will be shocked at the amount of looted funds we will recover that we will use to finance all these programmes.

Now imagine if we give DSS and EFCC 50billion each to go after all those who have looted public funds or and reward them with a 5% finders fee, do you doubt the wonders those guys will do to help us fight this war on corruption and help us get firmly back on road to recovery?

Tinubu listed some nice programs but until he decides to look corruption in the face and fight it head on all these so called funds will just go down the drain.

First things first. Probe Nnpc, CBN and customs. Set the tone that it won't be business as usual. Otherwise all these policies by the government won't get the desired results.

Curse777:





Nothing una no go wail about

Let me measure your Administrative ability as a human

Let's say you become The President today

1: No Subsidy in 2022/2023 budget
2: inflation is going up
3: your next budget is after fully setting up all commitee of National Assembly


What will you do?!

Give an insight



Intresting... Flight or Fight you choose Flight (to run)

I guess Tinubu picked Fight (face the challenges)

And he has been fighting Cabals one after the other ..

We shall see who wins




.

Let's slow down a bit. It all began with supporting the Buhari government that only made things worse. Tinubu and all those who supported Buhari gov are the reason we are in this mess. The last 8 years have been the worst.
Now Tinubu is borrowing millions for palliatives, how would that solve the problem?
They claimed Dangote refinery would be ready by September so why not wait for just 3 months.

grandstar:
I am not a fan of government soft loans to business. They are usually squandered.

It would have been better if the CBN fought inflation. Tinubu and the CBN do not want the economy to enter a recession and have therefore been dovish about inflation.

Low inflation would be the best present to the suffering masses. Next should be to bring commercial lending rates from banks down to single digits. Rates of 9% and less should be the standard. This will help certain perk up the economy

How do you get banks to lend at below inflation rate? The current inflation is not demand pull but cost push based. As such measures implemented should be effective in tackling the causative factors.

50,000, 100,000. Funny. What business can you do with 50k and 100k?

If by now you still think the government has your back then you’re wasting your time.
This govt is “On your own”.

Fend for yourself, expand your income and double income sources. Nothing is coming from this govt. Your president is clueless. He has no single plan. It’s his turn to be president and he got it. It’s going to be another long 8yrs of promises.

NLC I no wan hear sey we no go go strike again o. I have already ironed my clothes so the strike must go on

tctrills:

Let's slow down a bit. It all began with supporting the Buhari government that only made things worse. Tinubu and all those who supported Buhari gov are the reason we are in this mess. The last 8 years have been the worst.
Now Tinubu is borrowing millions for palliatives, how would that solve the problem?
They claimed Dangote refinery would be ready by September so why not wait for just 3 months.

You have time to engage that one.

Tinubu supporters are fools for a reason

Tinubu uses them to do his work not because they have a brain but quite the opposite.

Tianamen1:

From your response, Tinubu's plans are going to be ineffective right?

It is actually to early to tell. The economy is in trauma sequel to the ending of the fuel subsidy. Now, add the desired unification of the exchange rates and this surprisingly increased the pain as it seemed a few items were priced at the then very unrealistic official exchange rate.

It will take sometime for economy to adapt to the removal of the subsidy. It drag down growth for at least 2 years. Afterwards, the economic growth can begin the roar.

I think government should slash corporate taxes to 15% or less. This will encourage local and foreign investors to invest in the economy.

The 75bn to be given to 75 companies as loans to my opinion would have been better spent wooing investors by providing them with incentives to set up shop here. Many western companies are fleeing China and looking for countries to invest in. Many are going to Indonesia, Vietnam and especially India. Many could be wooed to come here.

I am sure many Chinese companies too can be wooed here but my worry is there worrisome labour practices. Perhaps, only reputable Chinese firms should be encouraged to set up shop here. The truth is at this point, the country can't be choosy.

Nonsense talk..

obi58:


How do you get banks to lend at below inflation rate? The current inflation is not demand pull but cost push based. As such measures implemented should be effective in tackling the causative factors.

Thank you my brother for your response. It was educative and by someone who knows what he is talking.

I totally agree with you.

The economist, the late Henry Boyo and many others have argued that the dollar components of the monthly allocation to the 3 tiers of government be paid in dollars and not in Naira as it is presently. Whenever they are paid in Naira, this floods the system with excess cash. The CBN now uses pricey treasury bills to mop up the excess fat.

If they are paid in Dollars, they would now exchange this for the Naira and that would lead to the Naira appreciating incredibly. This will instead lead to tight money and may even turn deflationary. A very strong Naira won't benefit the government as 75% of government revenue is Dollars.

The CBN can now commence the reduction in interest rates (looser monetary policy). With time, inflation will fall below 10% and commercial lending rates as well. I do fully support that interest rates in real terms must be higher than inflation.







I

Curse777:


It's a form of social welfare to kick start the economy

Pls I want to start a S/M business in Enugu, pls who knows how I can source a 50-100k loan, with low repayment??
And moreover, y'all critics should leave BAT alone, I see BAT helping Nigeria to achieve greatness...

grandstar:


It is actually to early to tell. The economy is in trauma sequel to the ending of the fuel subsidy. Now, add the desired unification of the exchange rates and this surprisingly increased the pain as it seemed a few items were priced at the then very unrealistic official exchange rate.

It will take sometime for economy to adapt to the removal of the subsidy. It drag down growth for at least 2 years. Afterwards, the economic growth can begin the roar.

I think government should slash corporate taxes to 15% or less. This will encourage local and foreign investors to invest in the economy.

The 75bn to be given to 75 companies as loans to my opinion would have been better spent wooing investors by providing them with incentives to set up shop here. Many western companies are fleeing China and looking for countries to invest in. Many are going to Indonesia, Vietnam and especially India. Many could be wooed to come here.

I am sure many Chinese companies too can be wooed here but my worry is there worrisome labour practices. Perhaps, only reputable Chinese firms should be encouraged to set up shop here. The truth is at this point, the country can't be choosy.

IMHO the real issues preventing foreign investment (not portfolio investors) are Nigeria's lack of security, and lack of rule of law (tied to poor business practices, rules do not apply evenly. Some people are more special than others)

In my view, Nigeria needs to look inwards for development. Get its act right, and then investors buoyed by greed will troop in. I would have loved to see this government focus on one industry, any industry they feel Nigerians have a competitive advantage in.

It could be entertainment, as in music, film or sport.
It could be food processing to increase the shelf life of our agricultural products.
It could be manufacturing by expanding on Innosons successes.
It could even be Education by equipping new schools with products manufactured in Nigeria, such as chairs, tables, and chalk.

Nigeria needs to industrialize badly. South Korea created Daewoo and Samsung. We need to think outside the box to get out of this malaise. Most importantly, Nigerians need a message of Hope.

ThatCEO:


Say whatever you like about Buhari, but Buhari had tasted some degree of poverty in his life at some point, n even tho he later lived in luxury as a president he still remembered that life is tough on the other side n didn't bring this sort of hardship on us at one fell swoop. These people have never spent their money on fuel since they started their political career n their convoy didn't reduce with fuel hike, u REALLY think they know what the price of fuel is? What we have now na, "may God help us."

I'm not in support of Tinubu in anyway but
Buhari been the president was nothing but a colossal disaster that happened to Nigeria.

Ventura1:
Is that all?
We await implementation

Don't await that sir.

Check this out

12. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us

If this man cares about reducing economic burden, let agberos in Lagos be handled and allow good citizens breathe. Let bandits get same attention ESN is getting. Let all rent seeking thugs be crushed and allow people go about their businesses.

grandstar:


It is actually to early to tell. The economy is in trauma sequel to the ending of the fuel subsidy. Now, add the desired unification of the exchange rates and this surprisingly increased the pain as it seemed a few items were priced at the then very unrealistic official exchange rate.

It will take sometime for economy to adapt to the removal of the subsidy. It drag down growth for at least 2 years. Afterwards, the economic growth can begin the roar.

I think government should slash corporate taxes to 15% or less. This will encourage local and foreign investors to invest in the economy.

The 75bn to be given to 75 companies as loans to my opinion would have been better spent wooing investors by providing them with incentives to set up shop here. Many western companies are fleeing China and looking for countries to invest in. Many are going to Indonesia, Vietnam and especially India. Many could be wooed to come here.

I am sure many Chinese companies too can be wooed here but my worry is there worrisome labour practices. Perhaps, only reputable Chinese firms should be encouraged to set up shop here. The truth is at this point, the country can't be choosy.

SMH.

grandstar:


Thank you my brother for your response. It was educative and by someone who knows what he is talking.

I totally agree with you.

The economist, the late Henry Boyo and many others have argued that the dollar components of the monthly allocation to the 3 tiers of government be paid in dollars and not in Naira as it is presently. Whenever they are paid in Naira, this floods the system with excess cash. The CBN now uses pricey treasury bills to mop up the excess fat.

If they are paid in Dollars, they would now exchange this for the Naira and that would lead to the Naira appreciating incredibly. This will instead lead to tight money and may even turn deflationary. A very strong Naira won't benefit the government as 75% of government revenue is Dollars.

The CBN can now commence the reduction in interest rates (looser monetary policy). With time, inflation will fall below 10% and commercial lending rates as well. I do fully support that interest rates in real terms must be higher than inflation.







I

In Nigeria, CBN interest rate of of little impact. Their impact hardly trickle down to the masses. Stop regurgitating some jargons you read somewhere.

teepain:


Well someone else may argue that when a patient is hemorrhaging the first thing to do is to stop the haemorrhage before additional interventions. If one likens the removed subsidy to the loss of blood, the speed of implementation may be justified. Only one who is privy to the accounting books of the country will be able to tell how bad things are. Of course, we all should have an idea that this economy has been near comatose since around 2013 when Okonjo revealed that FG was borrowing to pay civil servants. Subsidy ought to have gone since Jonathan proposed it in 2012 but it is better late than never. The other thing that needs attention is the cost of governance.

My counter argument would be since we all knew that the subsidy was going away why not cushion the effects of it , instead of ripping the bandage off the wound? What would a few months of keeping it in there whilst you make sure that salaries are increased and that you freeze government fares and make loans available for smb really cost us . someone who drives a Uber and used to charge N1400 for a trip due to cost of fuel which has tripped can’t charge N4200 . He’s out of business . There was a better way of saving the patient . What he mentioned during his broadcast to the nation came across as authentic but something which should have been down prior plus a date given when subsidy would end . It was chaotic and sudden

Talking much and doing nothing

This old man is a liar. The FG didn't save any Trillions in 2 months. They're not making any arrangements for the good of Nigerians.

NIGERIA is in a deep messs.