Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,335 members, 7,815,662 topics. Date: Thursday, 02 May 2024 at 04:10 PM

Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal (10445 Views)

CBN Raises Interest Rate (MPR) To 22.75% / Timipre Sylva: Petrol Subsidy Will Soon Be Removed / Kyari: FG Will Divert ₦457 Billion Petrol Subsidy To Other Sectors (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by konvicted77: 2:22pm On Jun 15, 2023
Flets:
This is what you get inflicting people-unfriendly policies without solid plans.

Tinubu’s policies are utterly reckless. Mumu Nigerians hail textbook policies that don’t apply directly. The negative impacts are not short term either cos there are no plans to cushion them.

With limited supply of FX, floating the exchange rate means banks and speculators will determine the rates while CBN plays catch up. I project USD will hit 1000 naira in one month.

Fuel subsidy removal only frees up money for looting by the political vultures. Tinubu cannot stop the criminals that supported him to power. If in doubt, point me to the savings from diesel and kerosene subsidy stoppage. Besides no plans to manage accompanying inflation.

As for stopping the funding for tertiary institutions and instituting student loans, it only means the poor cannot access tertiary education again. Forget the loan, the bureaucratic bottlenecks will ensure the average youth cannot access i
My brother no need wasting ur time to explain this to anybody, someone who produces nothing wants dollar to come down just because the government floats it.
no wahala, in few days time we shall see.
yesterday dollars traded @#753/$, today it's @#754/$ and i saw one thread were they're deceiving themselves that it closed @#664/$ yesterday.
I earn in $ any direction it goes am satisfied.

1 Like 1 Share

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Reference(m): 2:35pm On Jun 15, 2023
tiamiyukunle69:
It's normal. When energy cost increased in Europe...there was massive inflation

I don't like attitude like this.
Inflation is not normal. It is not acceptable. It is a problem that every government fights because it destroys economies and fuels poverty.
We want to see the Nigerian government like its counterparts the world over fight the noble fight against inflation.
I think we should begin to outgrow this helplessness, buck passing, 'whatever will be' mentality.
We can do something about our situation and we should.

1 Like

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Reference(m): 2:38pm On Jun 15, 2023
konvicted77:

My brother no need wasting ur time to explain this to anybody, someone who produces nothing wants dollar to come down just because the government floats it.
no wahala, in few days time we shall see.
yesterday dollars traded @#753/$, today it's @#754/$ and i saw one thread were they're deceiving themselves that it closed @#664/$ yesterday.
I earn in $ any direction it goes am satisfied.

No matter what currency you earn inflation is inflation, it will erode it.
And as long as you live in a society the accelerated poverty caused by inflation will reach everyone through insecurity.
We must fight the scourge collectively.
We must cease from 'its not my business mentality'.
It will be sooner than later.

2 Likes

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by komzy589(m): 2:43pm On Jun 15, 2023
amerengues:
Interesting!

By God's grace, it will come down gradually. Consequent upon subsidy removal, an attendant soaring prices of commodities is expected as fuel appears to be the fulcrum of many production and services in Nigeria.

A teeming population of this country may not fancy BAT owing to the attendant controversies glued to the mention of his name, however, a very objective and unbiased mind, he has truly hit the ground running.

At this stage, please bury your hate and anger and let's work together to the betterment of the country. If he fumbles, the citizenry have every right to demand accountability, good governance and transparency as it's our right.


May God strengthen our leaders with good intentions.
Take time to read everything you said here again. A wiser approach would’ve been silence.
If you have a way of turning black to white, whiles you’re at it and it is still black, be quiet about it until you get it right.

1 Like 1 Share

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by AutoConsult: 3:01pm On Jun 15, 2023
bionixs:
you go wait tire
Over your d**d body then. If you don't want it to happen in your lifetime, then kick the damn 🪣
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by shegzhkn: 3:01pm On Jun 15, 2023
samtinx:
cheesy meanwhile 2% inflation for US person,want die what if them Nigeria own
Actually over 4%, are you in the states??
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by amerengues(m): 3:07pm On Jun 15, 2023
ChybuzzDD:


You liars again! You keep lying, deceiving and giving the poor masses false hopes.
So, now, it's by God's grace that inflation will come down, not by the sagacity of the drugman again??

Inflation has never been brought down by God's grace anywhere in the world, Mr man.

Responsible and incorruptible leaders have had to work for it by putting the necessary structures on ground: unfortunately, Tiefnubu is not one such people.

Hello, not everyone you see online is in the league of your online banters and tantrums of BAT, OBI and Atiku.

For your information, I believe everything comes to pass by God's grace. It is yours to disbelieve to that. Even in the wilderness, by His grace, I will be fine and positive.

Perhaps, I should have condemned it so that I would sound wise to the public.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by blueAgent(m): 3:31pm On Jun 15, 2023
N2B2:
On his inflation they shall stand.

grin grin grin
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by blueAgent(m): 3:33pm On Jun 15, 2023
DannyWalker:
...

It’s a shame that despite how many years of suffering many Nigerians are still blind to this political games.
Somebody like Tinubu is doing what he is doing today not because he cares about you people but because he wants to use these small small signing of electricity, student loans and the likes to make you think that Peter Obi case in court is silly and no longer worth it, hence the reason why the blind people amongst you are quick to say that Peter Obi should forget about the case and let Tinubu rule. It's a political strategy
I am not a fan of Obi or anyone else but what I know is that, it doesn’t matter how good your plans are for Nigeria, if the process that got you into power is unclean then you do not deserve that position.
The world saw the bullshit Tinubu did to gain power.

If Obi wins the case tomorrow Tinubu will have to leave, it doesn’t matter whether he had good plans or not.
A man who has good plans for a nation will never force his way or cheat his way to that position of power.
For Tinubu, it was never about you, it was always about him and his greedy goals that is the reason he kept his hand in the Lagos government over the years. For him it was always about control and be the head.

Everything he has done so far are very simple things that Buhari could have signed and done but why didn't that happen? Because APC has an agenda. They create problems and then Tinubu wants to be the Messiah by bringing solutions to the same problems they created.

I have always asked, the money agberos collect in Lagos that runs into billions, what does that money do in Lagos state?
Over the years Yoruba people keep praising Tinubu for the small achievements of the likes of Fashola, Ambode and Sanwo olu. You are blind and Ignorant and it’s a shame that you think an Igbo man is your enemy when your enemy is the person you call your godfather, the one you worship foolishly.

Only God can save you people.

If you can't read between the lines of Nigerian politics, you will never be able to understand anything.

So true.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by blueAgent(m): 3:35pm On Jun 15, 2023
FOJEM:


Na so!
Just like the price of kerosene came down!! After many years.
Just like the price of diesel came down!! After many years

Abeg Ask the clown.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by blueAgent(m): 3:37pm On Jun 15, 2023
ceejayluv:

Hahahaha..... I remember 2012 sha... BAT did the exact opposite of what you're preaching. We had far less foreign debts and inflation then oo.
What goes around.......

grin grin grin

As he did Lagos.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by blueAgent(m): 3:39pm On Jun 15, 2023
komzy589:

Take time to read everything you said here again. A wiser approach would’ve been silence.
If you have a way of turning black to white, whiles you’re at it and it is still black, be quiet about it until you get it right.
grin
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by shimolv: 4:00pm On Jun 15, 2023
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Tinubuderanged: 4:25pm On Jun 15, 2023
damble:
I see the inflation coming down soon
go back to sleep. You are seeing renew surfering.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by prophetfire: 4:30pm On Jun 15, 2023
AutoConsult:

Relax bro! I know you are angry. Come back to this comment same day next year and let's have this discussion.
Okay. I hope too your magic works. I'd be glad if it does.

1 Like

Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by ProfOkai: 4:34pm On Jun 15, 2023
amerengues:
Interesting!

By God's grace, it will come down gradually. Consequent upon subsidy removal, an attendant soaring prices of commodities is expected as fuel appears to be the fulcrum of many production and services in Nigeria.

A teeming population of this country may not fancy BAT owing to the attendant controversies glued to the mention of his name, however, a very objective and unbiased mind, he has truly hit the ground running.

At this stage, please bury your hate and anger and let's work together to the betterment of the country. If he fumbles, the citizenry have every right to demand accountability, good governance and transparency as it's our right.


May God strengthen our leaders with good intentions.

It is expected. Not much. But you see, this country is on the right track with Tinubu. I am Obidient and I like good governance.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Tinubuderanged: 4:36pm On Jun 15, 2023
AutoConsult:

Relax bro! I know you are angry. Come back to this comment same day next year and let's have this discussion.
next year? Do you know what will take you to reach the next year? Una go feel am.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Nobody: 4:49pm On Jun 15, 2023
Flets:
This is what you get inflicting people-unfriendly policies without solid plans.

Tinubu’s policies are utterly reckless. Mumu Nigerians hail textbook policies that don’t apply directly. The negative impacts are not short term either cos there are no plans to cushion them.

With limited supply of FX, floating the exchange rate means banks and speculators will determine the rates while CBN plays catch up. I project USD will hit 1000 naira in one month.

Fuel subsidy removal only frees up money for looting by the political vultures. Tinubu cannot stop the criminals that supported him to power. If in doubt, point me to the savings from diesel and kerosene subsidy stoppage. Besides no plans to manage accompanying inflation.

As for stopping the funding for tertiary institutions and instituting student loans, it only means the poor cannot access tertiary education again. Forget the loan, the bureaucratic bottlenecks will ensure the average youth cannot access i

Bro, pls calm down, these things you have said are top secrets. Only few people who are very observant will understand the truth in your words.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by nedekid: 5:04pm On Jun 15, 2023
amerengues:
Interesting!

By God's grace, it will come down gradually. Consequent upon subsidy removal, an attendant soaring prices of commodities is expected as fuel appears to be the fulcrum of many production and services in Nigeria.

A teeming population of this country may not fancy BAT owing to the attendant controversies glued to the mention of his name, however, a very objective and unbiased mind, he has truly hit the ground running.

At this stage, please bury your hate and anger and let's work together to the betterment of the country. If he fumbles, the citizenry have every right to demand accountability, good governance and transparency as it's our right.


May God strengthen our leaders with good intentions.
Well said.
Atleast we can see he has hit the ground running.
Hopefully inflation should come down.
The way I see people trekking, the way folks beg for assistance, omo, there is suffering in the land.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by konvicted77: 5:17pm On Jun 15, 2023
Reference:


No matter what currency you earn inflation is inflation, it will erode it.
And as long as you live in a society the accelerated poverty caused by inflation will reach everyone through insecurity.
We must fight the scourge collectively.
We must cease from 'its not my business mentality'.
It will be sooner than later.
I'm not of the opinion of "its not my business".
it pains me to see majority of us here backing policies we don't understand.
however, we hope things get better.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Brek: 5:51pm On Jun 15, 2023
Nigerians are very foolish
Inflation is rising and you're here celebrating like mindless idiots
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by bionixs: 5:53pm On Jun 15, 2023
AutoConsult:

Over your d**d body then. If you don't want it to happen in your lifetime, then kick the damn 🪣
keep dreaming until all the hairs on you turn grey.

If you think that America became great on a faulty foundation, I suggest you pay a visit to your doctor
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by AutoConsult: 7:24pm On Jun 15, 2023
Tinubuderanged:
next year? Do you know what will take you to reach the next year? Una go feel am.
Bro! I'm not going through whatever it is you are going through. Stop projecting your struggles on others okay!?
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by AutoConsult: 7:25pm On Jun 15, 2023
bionixs:
keep dreaming until all the hairs on you turn grey.

If you think that America became great on a faulty foundation, I suggest you pay a visit to your doctor
I'm done with your asssss
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by tiamiyukunle69(m): 7:50pm On Jun 15, 2023
Reference:


I don't like attitude like this.
Inflation is not normal. It is not acceptable. It is a problem that every government fights because it destroys economies and fuels poverty.
We want to see the Nigerian government like its counterparts the world over fight the noble fight against inflation.
I think we should begin to outgrow this helplessness, buck passing, 'whatever will be' mentality.
We can do something about our situation and we should.

You all didn't get me. It is expected to rise as a result of the rise FX and fuel prices. I never said it's good. Just basic stuffs......nobody wants to pay more for goods. I'm just saying there will be inflation based on the recent policies by the government.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by tiamiyukunle69(m): 7:51pm On Jun 15, 2023
Rayban25:


Oga shatap.

You all didn't get me. It is expected to rise as a result of the rise FX and fuel prices. I never said it's good. Just basic stuffs......nobody wants to pay more for goods. I'm just saying there will be inflation based on the recent policies by the government.
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by Onyi90(m): 9:48pm On Jun 15, 2023
This is what I expect the current administration to attend to as a matter of urgency and not the empty propaganda that has no direct impact on Nigerians
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by lexy2014: 7:11am On Jun 16, 2023
amerengues:
Interesting!

By God's grace, it will come down gradually. Consequent upon subsidy removal, an attendant soaring prices of commodities is expected as fuel appears to be the fulcrum of many production and services in Nigeria.

A teeming population of this country may not fancy BAT owing to the attendant controversies glued to the mention of his name, however, a very objective and unbiased mind, he has truly hit the ground running.

At this stage, please bury your hate and anger and let's work together to the betterment of the country. If he fumbles, the citizenry have every right to demand accountability, good governance and transparency as it's our right.


May God strengthen our leaders with good intentions.

How will the inflation come down?

Is it by God's grace that the inflation went up? What has Gods grace got to do with inflation?

If God's grace is the solution to inflation, then u saying Tinubu has no business being president.

How has Tinubu hit the ground running? Is it by increasing the inflation?

Who are those you are referring to when you say "let's work together to the betterment of the country"?

If you are praying to God to strengthen your leaders with good intentions, are you saying your leaders never had good intentions?

If they didn't, why did you vote for them?

How do you want every body to work together for the betterment of the country when you have acknowledged that the leaders don't have good intentions?
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by lexy2014: 7:18am On Jun 16, 2023
ProfOkai:


It is expected. Not much. But you see, this country is on the right track with Tinubu. I am Obidient and I like good governance.

If you good governance, how is increased inflation good governance?

How is Nigeria on the right track with Tinubu?

Your "I am Obidient" line, is too obvious and very unconvincing. Try something else
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by lexy2014: 7:21am On Jun 16, 2023
Dogo246:
If the new wages can be implemented by Tinu as promised, then it should come down. Mr jagaban, follow your manifesto with action oooh. It is time to walk the talk.

How will new wages make inflation come down?
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by lexy2014: 7:24am On Jun 16, 2023
obembet:
We will overcome it.

Asiwaju is working on it

How are we going to overcome it?

How is Tinubu working on it?
Re: Nigeria’s Inflation Rate Rises To 22.41% Amid Petrol Subsidy Removal by lexy2014: 7:25am On Jun 16, 2023
INTEGRITYA1:
The effect is much lower than expected looking at 100% increase in the price of fuel after subsidy removal.
We will definitely attain stability in our Economy in no distance time. God Bless Nigeria.

When you say "stability in our economy", what do you mean?

(1) (2) (3) (4) (Reply)

Is Nigeria A Developing Nation? / Kidnappers Hijack A School Bus Of 15 Pupils In Aba / South East Gets Lowest Allocations Compared With to the North, Why?

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.