gabbytabby:
Being saved shows a lack of understanding cos it only means no further loans are taken out to fund petrol subsidy.

You mean loans were being used to fund fuel subsidy.....

The pace and impact of the changes has been my worry. Too many at the same time subsidy removal and fx alone are too big at the same time. We need to try to get some balance lower gas prices, improvement in public transport and minimal salary improvement for those who did not already get one this year (eg lagos and Edo?) to avoid hyper inflation.

1k Car registration is more on the security front and a good plan. Hold off on electricity tariff increase till January 2024 and issue meters free to improve collection. Improvement in electricity distribution to curtail need for petrol. Let those who can and want to buy tokens in advance do so as it means more money available to provide more meters free or with minimal contribution from the customer.

Yes. Hence why it really did not make sense.

Kukutenla:

You mean loans were being used to fund fuel subsidy.....

Houseontherock1:
How can you start implementing economic policies without any form of shock absorber in terms of salary increments and other nonmonetary palliatives? Nigeria is a lost cause...all polithiefcians have the same horrible plans of robbing Peter to pay Paul. I think once they get to that office, something catapults them into an abyss of heartlessness! It's not just Tinubu; Obi and Atiku will do the same. They are all wired that way.

Don't dilute the import of this discuss by bringing in Obi and Atiku, focus on your Tinubu

Wahala wahala wahala

Nigeria is a country where many people will never own up an obvious truth because it would hurt whatever narrow sectional and parochial interest they are deep buried inside.
When Obi said he will remove subsidy, they failed to read his manifesto where he discussed how to implement subsidy removal. Immediately Tinubu removed subsidy, his defenders rushed online to scream "But Obi also campaigned on the basis of removing subsidy". They failed to talk about how Obi said he will implement his own subsidy by first of all tidying up the volume of consumption discrepancies, introducing palliatives, even investing in local refining.
Now it is obvious that against his own economic advisory council proposal, Tinubu rushed and removed subsidy without one single plan or following the plan laid down by his own team (similar to what Obi had suggested the best way to implement removal of subsidy). Fuel will soon sell for 700 per liter and una eyed go clear soon.

But but jagaban is a master strategist. All his policies will favor me and my family

WorldRichest:


Mumu, you go cry for long. No one can stop a fast moving train

Na that fast train go kill u

gabbytabby:
Yes. Hence why it really did not make sense.

How much loan was used to fund subsidy this year?
Too many lies you guys don't even know which one to hold anymore
One said subsidy was being paid from Nnpc remittances
Another said it was being paid from the differential of crude sales aka dsdp
Now you're saying it was being paid from loans
It's obvious nobody knows anything about the phantom 10trn to be saved from subsidy removal
Very soon, the story will be subsidy removal did not have effect because our earnings have dropped since it was removed. Sakamaje!!

Parachoco:
It is better he's doing the reforms now

Everything go don balance by this time in 2025 when the Positive results start showing.

Absolute Majority Of Nigerians have choosen to Suffer Today and Enjoy Tomorrow.

Parachoco:
It is better he's doing the reforms now

Everything go don balance by this time in 2025 when the Positive results start showing.

Absolute Majority Of Nigerians have choosen to Suffer Today and Enjoy Tomorrow.

With the rate of poverty in the land, how many people would be alive by 2025 to witness your so called positive results? No government all over the world punish the downtrodden for the rich, except Nigeria. How would you say you removed subsidy just because you claimed it only the rich that benefited it the more? Forgetting that the price of PMS dictates the price of all goods and services in the nation. Today people are now finding it difficult to cope with inflation, to eat becomes difficult. To transport becomes Kilimanjaro adventure. All daily activities is now difficult to come by. I said it, the ripple effects of subsidy removal will only dipped the country's citizens to more poverty and thankfully, the economists are now saying the same thing.
Until the first thing is done first, the kind of backlash he will receive even from his ardent supporters it would be mountainous in the days to come. No reasonable leader inflict injuries on the large population because of the few individuals that are less than 5%. What they are just telling us is, the 5% are more than the government that they cannot be tackle standstill for surchanging the nation and eating her patrimony illegally. And secondly, build and revamp the existing refineries, the issue of subsidy will automatically fizzle out without anyone knowing. We cannot continue to playing the ostrich and punishing the larger population for government efficiency. If truth has to be lay bear, people are not finding it funny again and a time will come, they would reach the boiling point and to control them will be very uneasy.

Hasty decisions into calamity.
Driving Nigeria into a disastrous end.

opeldavid:
Hasty decisions into calamity.
Driving Nigeria into a disastrous end.

Succinct

https://www.youtube.com/watch?v=AtkkMv-ENcw

Mufasa27:
Give this guy a break please, BAT is competent reason why he won the Election... He was the best candidate among the 3. Even blind eyes can see he means business, we just have to be patient and everything will be fine.

See them, awon 30k monthly gang. Suffer head

EyeCumInPiece:
He needs to be told.
Wonder why sane humans will be praising a regime that has so far brought increased hardship to Nigerians.

they will because of their foolishness

I don't like Tinubu
I think he lost the election and rigged his way in
I hope the courts eventually throw him out.

Having said the above, I support this moves on the economy. Whatever you say about Tinubu, we must admit he's a 'player' in the Nigerian game. He understands that there are cartels in this country who have been making Billions of dollars from the old structures around subsidy and FX. if you waste time, they will find ways to block any attempts at reforms. He had to act fast before they could organize themselves to fight back. Yes it will be painful, but hopefully things will start to lookup, especially once Dnangote and BUA petrol starts to hit the market. There can be no genuine reform without some pain

WorldRichest:


Mumu, you go cry for long. No one can stop a fast moving train

yes no one can stop a train that has lost its brake heading to total wreck

WorldRichest:


Mumu, you go cry for long. No one can stop a fast moving train

I agree with the bolded. But where is the train moving to??

Parachoco:
It is better he's doing the reforms now

Everything go don balance by this time in 2025 when the Positive results start showing.

Absolute Majority Of Nigerians have choosen to Suffer Today and Enjoy Tomorrow.

Chai... na this one you dey use hold yourself..
Lol!..
It's termed suffer now enjoy tomorrow, same slogan when bubu entered and pointed fingers at pdp

I miss PDP ..
Their corruption is far better than this ones righteousness

Better to endure the pain of the prosperity that is to come. Life rules are sacrosanct ; no pain no gain. No pressure no pleasure .. We must experience the night time before the day can come .. Even in developed nations they make sacrifices to become better by each day

bjdon:
I don't like Tinubu
I think he lost the election and rigged his way in
I hope the courts eventually throw him out.

Having said the above, I support this moves on the economy. Whatever you say about Tinubu, we must admit he's a 'player' in the Nigerian game. He understands that there are cartels in this country who have been making Billions of dollars from the old structures around subsidy and FX. if you waste time, they will find ways to block any attempts at reforms. He had to act fast before they could organize themselves to fight back. Yes it will be painful, but hopefully things will start to lookup, especially once Dnangote and BUA petrol starts to hit the market. There can be no genuine reform without some pain

How would a government punish the downtrodden because of the few cartel that are not more than 2% of the population? Please where lies the sense in that? Or are we saying the 2% are more powerful than the government the people elected to see to their affairs, including providing good life for them. No single sense in all you people alluded to. How would the few be more power than the government? Meaning we are not running a truthful government. Until we build a strong institution, before we can have headway. All these panting the so called cartel at the backs for doing the wrong thing against the system, should be the thing of the past, else they regroup and fight in another way because of the resources at their disposal.

Waterbear:


Chai... na this one you dey use hold yourself..
Lol!..
It's termed suffer now enjoy tomorrow, same slogan when bubu entered and pointed fingers at pdp

Nigeria will get better because Asiwaju is on Track.

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bjdon:
I don't like Tinubu
I think he lost the election and rigged his way in
I hope the courts eventually throw him out.

Having said the above, I support this moves on the economy. Whatever you say about Tinubu, we must admit he's a 'player' in the Nigerian game. He understands that there are cartels in this country who have been making Billions of dollars from the old structures around subsidy and FX. if you waste time, they will find ways to block any attempts at reforms. He had to act fast before they could organize themselves to fight back. Yes it will be painful, but hopefully things will start to lookup, especially once Dnangote and BUA petrol starts to hit the market. There can be no genuine reform without some pain

a tinubu supporter spotted. Stop disguising.

JpBiz92:
a tinubu supporter spotted. Stop disguising.

I have no need to hide or disguise anything. The simple truth is that once we consider politics with a mature mind, not childish emotions, you'll find that no leader is either wholly bad or wholly good. They are all somewhere in the middle. Obi, Tinubu or Atiku, either of them would do things I agree with, and things I will not agree with. We should learn to call out the truth at all times.

IfnobeGod20:

How would a government punish the downtrodden because of the few cartel that are not more than 2% of the population? Please where lies the sense in that? Or are we saying the 2% are more powerful than the government the people elected to see to their affairs, including providing good life for them. No single sense in all you people alluded to. How would the few be more power than the government? Meaning we are not running a truthful government. Until we build a strong institution, before we can have headway. All these panting the so called cartel at the backs for doing the wrong thing against the system, should be the thing of the past, else they regroup and fight in another way because of the resources at their disposal.

It does not matter if they are 2% or .02%. Their actions were bankrupting the country. Have you not seen the massive amounts that were being spent on so called subsidy? Do you not also realize that it's due the corruption with petrol subsidy that none of our refineries were working. For your information there are cartels all over the world. In the US it's the arms and weapons history(Otherwise known as the military industrial complex).
With the subsidy gone, local refining will now take off (BUA, Dangote, others) and eventually the cost of PMS will come down due to competion. The nation will also save MASSIVE amounts of FX which will help the exchange rate.
I will agree though, that the govt should very quickly provide relief to the masses

Waterbear:
I miss PDP ..
Their corruption is far better than this ones righteousness

Hahahahaha

grandstar:
This professor is giving a text book answer to treat the severe economic mess Buhari left behind.

You go the slow and gentle route, you'll simply embolden those against reforms to frustrate things, especially when the president eyes re-election.

Shock therapy is the best. Get everything over and done with quickly. Already, two of the most painful reforms have been carried out: removal of petrol subsidies and unification of the exchange rates.

More deregulation in prices are needed in the telecom and power sector. If those in these sectors can't recoup costs, they won't reinvestment. Government setting of rates there isn't the best but I can understand the GSM carriers have oligopolistic power and may abuse it and use it to fix prices illegally.

Cutting down the size of the civil service may prove politically risky now as it may push them and their sympathizers into voting for the opposition in 2027. The best they can do now is simply to prune it.

APC man I hail o.
Reforms go beyond giving weighty and broad orders. Concrete moves are needed to inspire action from the masses. Government is largely of and by the masses. It is in the interest of all for the govt to be serious and provide truly condusive conditions for production. Not just some big men looking to dominate the society and so form briefcase companies to buy key national assets they cannot maintain nor run effectively with public money.

bjdon:

It does not matter if they are 2% or .02%. Their actions were bankrupting the country. Have you not seen the massive amounts that were being spent on so called subsidy? Do you not also realize that it's due the corruption with petrol subsidy that none of our refineries were working. For your information there are cartels all over the world. In the US it's the arms and weapons history(Otherwise known as the military industrial complex).
With the subsidy gone, local refining will now take off (BUA, Dangote, others) and eventually the cost of PMS will come down due to competion. The nation will also save MASSIVE amounts of FX which will help the exchange rate.
I will agree though, that the govt should very quickly provide relief to the masses

you know not what you are talking. What's the difference if Dangote, BUA refine and sell to the govt at same or almost same prices the Indian and Singaporean refiners sell to govt? If subsidy must go for refiners to start refining for an end product that's used extensively across the globe, then that shows the corruption is just about to begin. Subsidy fraud is largely if not wholly between marketter and the subsidizers - FG.

CodeTemplar:
APC man I hail o.
Reforms go beyond giving weighty and broad orders. Concrete moves are needed to inspire action from the masses. Government is largely of and by the masses. It is in the interest of all for the govt to be serious and provide truly condusive conditions for production. Not just some big men looking to dominate the society and so form briefcase companies to buy key national assets they cannot maintain nor run effectively with public money.

I have to be frank with you, I don't understand what you're saying.

Removal of the fuel subsidy and merging of the exchange rates were extremely urgent and should have been carried out years ago.

If you're supporting the multiple exchange rate policy of the Buhari govt, then you're supporting the briefcase millionaires you whine about.

In which space will a well connected renter briefcase businessman make money: where the official exchange rate is 461 and black market 750 or the present one where the official rate is 745 and black market 750?

Rountripping (buying forex at the official rate and selling at the BDC or black market rste) flourished under Buhari because of the massive differential in exchange rates. By floating the Naira, that has put an end to briefcase millionaires or even billionaires.

Also, the old exchange rate policy favored only the well connected. There was an unmet demand of $12bn under Emefiele. The airlines alone could nor repatriate $800m.

That waa not an environment conducive for business. In the past , dollars flowed to the well connected but now flows to those who can pay for it.

Secondly, the fuel subsidy simply needed to go. I have only filled my generator once since the subsidy was removed, so I know it hurts. But there was no option.

Your last few lines are appreciated. Let's see if the Tinubu can sell of the country's parastatals in a very transparent manner, free of corruption.