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Nairaland Forum / Nairaland / General / Politics / Nigeria On The Verge Of Bankruptcy - Emir Sanusi (36742 Views)
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Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by plaetton: 6:21pm On Jun 25, 2019 |
ikezuora4689:Martin Luther king was not an economist, neither did he actually run any enterprise or administrative institution. But yes, we need more bold truth tellers to acquaint the Nigerian public about the real situation. Nigeria must restructure or turn into an uninhabitable land in the very near future. 2 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Mexyz(m): 6:25pm On Jun 25, 2019 |
tactius:Nice points and suggestions you raised up there Sir. Now I want to ask a question, how many Nigerians living in one room apartment today can comfortably pay 30k as electricity bill ALONE? Inf act some of the ones we referred to as middle class in the country can't pay that in a month for their 2/3 bedroom flat. The problem still remains those people we call leaders in Nigeria, just as you pointed out, I believe we have hundreds of so called Petroleum importers who receive millions of dollars monthly as subsidy when in actual fact they don't import even a litre of fuel. Yes I fully support everything you wrote but the truth still remains that Nigerians will take to the streets if these measures are taken because they don't trust their leaders not to embezzle the money that will be saved from cutting subsidies. SURE-P is dead and buried today. |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by israelmao(m): 6:26pm On Jun 25, 2019 |
It is sometimes wasteful and energy-sapping telling truth to those who have pitched their tents with lie but somehow and someday truth must prevailed. 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by QueenVaji: 6:27pm On Jun 25, 2019 |
Paroh: Are u stupid.. Cant u hear dat nigeria has no moni again... U even have phone and data to beg |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by ensamy(m): 6:29pm On Jun 25, 2019 |
Oil is still flowing in Niger Delta so Nigeria can never be bankrupt Sell the oil get foreign exchange and share the money. Na so we go dey go until oil dries up then we start talking about bankruptcy. |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Elvis778(m): 6:31pm On Jun 25, 2019 |
Subsidy?? Did you just say subsidy? I know it's a good idea but, that won't help Nigerians. If you are seeking for a way to optimize government expenses, make it simple, slash the salaries of Government officials, if you can make it a maximum salary of 1-5 million naira a month for any government office at all, that will go a long way in stabilizing the economy. How can 1 person collect a whopping 25 million naira a month?? Plus allowances, and you still feel it's alright?? Asking to remove the only thing that puts smiles on the faces of the poor majority. OUR LEADERS ARE JUST WICKED. To Mr president, if you should remove subsidy partially/totally, i ask you to reduce the monthly salary for government officials too (senators, governors and president too), if it affects us, it shud also affect you, and them.. 4 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by truehero(m): 6:32pm On Jun 25, 2019 |
[color=#006600][/color] DuBLINGreenb: I guess you did not read through the lines... |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Nobody: 6:34pm On Jun 25, 2019 |
Mexyz: I get your point...and to be honest, I wish I did not have to write what I wrote upthread.... But the problem is, we are not earning enough money to pay for subsides. Going back to agruculture and mining is a good idea...but it is going to take time to get back to where we used to be (and even then, we have fallen so far behind that returns may take longer to see). However... Once upon a time, in 2001...GSM came to Nigeria. GSM was expensive.(A package from the company that is now Airtel in 2002 cost N25000 naria...more than what even the 'richest' students recieved in one month...and they even came and put posters in front of the student hostel where we were staying then...ha ha). And the service was poor. (When they brought internet vis GPRS in 2004/5...service was bad...even slower than what you got in an internet cafe, lol) And people basically called on the Obsanjo government to cut prices...but the government did not listen to them The GSM companies made an excess profit...and ivnested that money in building the GSM network we have today...plus most of the internet network we have here. ....it was built with very little government money.... And the GSM companies provided a lot of jobs for people as well... All because government did not intervene and subsidse their business...which would have made them too broke to make things better. That's a big reason why I support subsidy removal. I know many Nigerians cannot afford it...but then our country cannot afford subsides anymore. It is driving us into a debt and we cannot keep taking loans anymore. 6 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by HeyCorleone(m): 6:36pm On Jun 25, 2019 |
tactius: This is a real view, I know. But we have to view matters circumspectly. Who has N30000 to pay every month for erratic power supply? From N30000 minimum wage? If subsidy on petrol gets removed, transportation prices would immediately sky rocket. I'm talking almost 100% increment. You know why? Because prices of foodstuff would also increase due to increase in cost of production, so the transporters have to calculate it too. So how does one commute to work, pay for light, and still eat on a N100,000 salary? You see why people are fleeing? 2 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by abdulazeez1002(m): 6:36pm On Jun 25, 2019 |
Paroh:Your number? |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Nobody: 6:39pm On Jun 25, 2019 |
HeyCorleone: That's the truth... But the thing is, we can't afford subsidy on the current crude oil prices. That is the reason why we are taking loans like there is no tomorrow. So subsidy has to go...or we may be so bankrupt in a few years that circumstances would force us to take that decison Or we just keep on taking loans. 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by LZAA: 6:40pm On Jun 25, 2019 |
Sarrki and wee call him ipob and blame kanu Smh Cc immhotep Adaibeku greenback Afonjaconehead 3 Likes 1 Share |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by HeyCorleone(m): 6:47pm On Jun 25, 2019 |
tactius: Or slash salaries of public servants? We were told that the NASS is going to share N19b in 3 months. For what reason other than their self gratification. In a country that is almost bankrupt? You see that things don't add up. How much do these people earn? How much does the president eat in a day? These things have to be reviewed. Otherwise removing subsidy would throw Nigeria into perpetual chaos. In most countries where government doesn't pay subsidy on things, they enjoy amenities like free quality education, very affordable healthcare, cheap public transportation, good power supply, among others. All these in a bid to make life better for citizens. So if you say Nigerians should pay N200 on a ltr of petrol, what are you offering them? Do they still pay school fees? Do they still pay to fuel their generators? Do they still pay high fees for medical checkups? Do they still pay to repair their cars because of the bad roads? Just what are they being offered? The matter has to be carefully reviewed all round. 4 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by bixton(m): 6:52pm On Jun 25, 2019 |
tactius: There's no short cut to solving a problem except a miracle happens. I do not think the FG both past and present do actually have an economic blue print that will position Nigeria well. All we've ever had probably after the civil war is economic policies towards managing the economy. Our policies have always been on the verge of "manage" to growth rather than "stable" to growth. As far as Nigeria is concerned business owners are only interested in maximum profits by any means necessary. Not all of us is against the removal of subsidy for petroleum products/electricity distribution, but its the resultant effect on the masses. And this effect is ripple like. A sane economic policy as regards this subject matter should be one that can give all the right incentives to private investors.Those incentives are supposed to act as subsidy given an agreed time frame and they fix an appropriate price for consumers. But given in Nigeria with all the incentives the government gives to private investors they still cry foul in order to rip the consumers An example is MTN. The profits they have made in Nigeria surpasses that made in South Africa even if we go by population count. 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Fourwinds: 6:52pm On Jun 25, 2019 |
Tocynone:Sanusi should be ashamed of himself... He was part of a government that could build a single refinary... Who is deceiving who? A country that produces oil, and they are shamefully talking about subsidy ... Nonsense |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Mexyz(m): 6:53pm On Jun 25, 2019 |
tactius:True though, I just wish every Nigerian reason this way, unfortunately its not so. Few of us in this country actually think or look what the future holds. |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Nobody: 6:54pm On Jun 25, 2019 |
HeyCorleone: Currently it costs N1 trillion to maintain our National Assembly. According to figures on another thread...we have spent N11 trillion in the last 6 years on subsidy...that's about 1.5-2trillion naira annually on just subsidy. Personally, I think we should cut the salaries ans allowances of public servants.....BUT...the amount still won't be enough. And all the countries that enjoy free educaiton, health care, etc...pay heavy taxes, or are funding their income via loans and grants from international bodies. It's sad...but as things stand, Nigeria is not earning enough money. The corruption is making an already bad situation worse. At least if my solution works...we would be having a higher income anyway...plus we might even get industrialized. 2 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Durchmann(m): 6:57pm On Jun 25, 2019 |
@ tactius. You have a solid grasp of the Nigerian economy and I commend you for that. You have torn down the issue as clean as it should be. It is left for people to understand that this is the way we should go or we end up a nation worse than Venezuela. The truth is, Nigerians are living in self-denial in almost every sector of the economy. In fact, due to our current policies as well as corruption which feeds on our policies, the economy is actually about 80% artificial. Nigerians think they are producing more than enough but in the actual sense, we are living above our means. It's just like a man who earns 150k monthly and drives a Range Rover Sport (because he got it when he had better means of income) and doesn't think he needs to downgrade in order to reorganise his life for better wealth in the future. Funny enough, this example I used is a way of life for a lot of Nigerians but I was only trying to throw more light on the issue. We need to throw the gauntlet and produce more. We need to bite the bullet and move forward. Open the economy to market forces so businesses can thrive and jobs as well as the economy can bounce back. I do hope the government allows the free float of the Naira as earlier planned (although the CBN has refuted it). In that way, we can produce more and allow out economy heal. With the impending ECOWAS common currency , Nigeria is going to be in for a lot more than she can chew. I do hope the FG can hands off business and allow free market forces to work. Subsidy is killing us at a very fast rate. We will turn the leaf for sure. I know someone would take that action soon, maybe not Buhari (or it could be him too). 3 Likes 1 Share |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Paroh(f): 6:59pm On Jun 25, 2019 |
abdulazeez1002: . |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by oluxy(m): 7:01pm On Jun 25, 2019 |
I love this part: According to him, “since I have decided to come here, you have to accept what I have said here. And please, if you do not want to here the truth, never invite me. 3 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Fourwinds: 7:02pm On Jun 25, 2019 |
tactius:come , do you know how many that earn #30000 monthly? How do they survive if what you are saying is implemented. I know of a friend who is a graduate.. The money he earns can no long carter for the family... He left his family in the town and went to the village to do farming 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by RichBoy247: 7:06pm On Jun 25, 2019 |
legitnow: But God is already punishing your family and generation nah. |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Nobody: 7:06pm On Jun 25, 2019 |
Fourwinds: Most Nigerians don't earn much...that I know. Problem is, if we continue with subsidy with the poor revenue we are getting from oil....we may reach a point where we are so broke that increasing prices would be something that has to be done to prevent us from being bankrupt. And your friend will still end up paying high prices for power and fuel. It's the harsh choice we have to make...save money or spend money we don;t have. As I have said earlier...it;s an argument I don;t like making. 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by tuniski: 7:07pm On Jun 25, 2019 |
DuBLINGreenb:Poor comprehension right? In there were solutions nau. Stop subsidy on petroleum and electricity etc 2 Likes |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by princeade86(m): 7:07pm On Jun 25, 2019 |
Bbbwings:and u are enjoying the way Americans are enjoying abi. the truth is that, our leaders borrowed money to embezzle. 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by mvem(m): 7:09pm On Jun 25, 2019 |
Jlow2:some years ago same mouth that are praising him were against him during GEJ time 1 Like |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Dredgemaster(m): 7:09pm On Jun 25, 2019 |
tactius:. Your comment is well on point but unfortunately the lifeless one cannot even read let alone understand. One chance government |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by olanrewaju99(m): 7:10pm On Jun 25, 2019 |
To me removing subsidy is not only the way forward but all government officials salary and allowance should be slashed at least by 60%... Moreover the hardship in the country is unbearable doing that now will scatter everything. tactius: |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Bizibi(m): 7:10pm On Jun 25, 2019 |
We already know that, next please..... |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by vineyardfarms: 7:11pm On Jun 25, 2019 |
[quote author=dre11 post=79663545] https://thenationonlineng.net/breaking-nigeria-on-the-verge-of-bankruptcy-says-emir-sanusi/ WHERE ARE THE LABOUR LEADERS, THE NASS, THE NORTHERN ELDERS FORUMS, THE HUMAN RIGHTS, THE TINUBUS, THE BARKARES, ETC WHO STAGE MANAGE STRIKE DURING GEJ AND FOLD THEIR HANDS WHEN PMB LIED ABOUT SUBSIDY TO INCREASE FUEL TO N145 AND STILL PAYING OUT N1.5 TRILLION TO CABALS AS SUBSIDY PER/YR ? WHERE WAS THE EMIRE WHEN NNPC AWARDED US$25B TO GHOST CONTRACTOR(S) SINGLE HANDEDLY BY NNPC GMD! EFCC BOSS SHOULD HAVE TELL NIGERIANS HIS RECOVERED LOOTS IMAGINARY TRILLIONS HANGING IN THE AIR? WE ARE DECEIVING OURSELVERS WITH LIES. NIGERIAN IS SEATING ON A TIME BOMB, MAY GOD HELP US. 1 Like 1 Share |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by 8stargeneral: 7:12pm On Jun 25, 2019 |
Anybody who is supporting buhari let his or her life be like buhari government |
Re: Nigeria On The Verge Of Bankruptcy - Emir Sanusi by Just2endowed2(m): 7:13pm On Jun 25, 2019 |
kinokano: The key there is education. I am not disrespecting my Northern bros but the truth be told. Where education enrollment is high, poverty will be kind of low. How many girls are drop out of school or without formal education? The almajari system of education over the years doesn't translate to youth employment, and that's why Buhari want to eradicate it. 1 Like |
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