Truth is, so far so good... The steps and the things Tinubu have done so far, given the option at his disposal, is actually very good for our country.
I only blame Tinubu for one thing. As a new president of a nation, you are not supposed to say "SUBSIDY IS GONE"... during your inaugural speech. That alone contributed to our troubles, but then it wasn't the genesis of our overall problem.

Before you start to crucify me, use your knowledge of economics and look critically into Buharis administration, then you will know that whoever that won the last election will face same thing that Tinubu is battling now and this battle can not be fought easily without causing more damage to the economy. So from the economic point of view, I don't know what magic any other candidates will have performed on the short term to salvage our situation.

Still typing ...

Let's take a look at what Buhari administration did.

First of all, Buhari administration borrowed money beyond imagination without investing in anything that will yield income for Nigeria. Buhari administration borrowed money just to share to the masses and a large percentage of the money they borrowed "went down the drain".

There was nothing tangible that anyone can point out to and say that this is the project they did with all the money they borrowed and that this project is capable of generating income to the nation....

Nothing to show for it.

Again, they not only borrow money, they also collected money in advance and use our crude oil production as a way of paying back. That's the famous "crude swap" that we are hearing.

In essence, within the next 2-3 years, the crude we are producing in Nigeria does not generate a new income for us, rather it's used to pay back the swap agreement.

In other words, Buhari administration did not only borrow Money that we are supposed to pay back, they also used our only source of income to do a swap deal which now leave us with no source of income for a long period of time.

What they did with all those money, we didn't know as there is nothing tangible that we can point to that they did with the money and that is commiserate with the money they collected.

In essence, Nigeria has plenty debt with no source of income for a period of time.

Now after handover, like I said earlier, Tinubu made a mistake by saying "subsidy is gone" in his inaugural speech. That phrase sent our nation into panic and it affected the general price balance of virtually all commodity.

Economically speaking, in the absence of any form of major income, the only way to keep paying subsidy is to borrow money since we don't have money. Now borrowing will further compound the problem.

Same way, to keep defending the naira against USD is to keep borrowing as the major way that we get FX is already cut off. So the naira can't be defended. And because there is no major income from crude oil, the only thing giving our naira hope is our diaspora remittance and some other exports that mostly individual organisation do. The major source of FX is no longer coming and so the naira has nothing to hold on to.

Am not a supporter of Tinubu, but after taking a critical look at our nations situation. There is nothing aside MORE BORROWING that any other person can do to salvage the naira. Any other policy is going to be long term, but for the short term, our currency will experience free fall due to the mismanagement of the last admin.

Na so...

The blame game continues.

This time, GEJ seems to be lucky to have been left out of it...

Buhari's handling of the economy is to be blamed abi?

So, why did BAT promise to continue from where Buhari stopped in his "great work" of handling the economy?

Una go explain tire.

You people can defend failure eh.

Did Tinubu reduce cost of governance? He has made more ministers than previous administration.
He imported foreign cars for lawmakers instead of patronizing made in Nigerian cars to save forex.

Tinubu is a disaster that is already happening.

BMC agenda

Blame past admin for imminent poor performance.
Wait for Dangote to refine then take credit via propaganda.
Loot loot loot.
Blame hoarders for forex debacle.
Keep Obi Atiku on defensive always.

MasterJayJay:
You people can defend failure eh.

Did Tinubu reduce cost of governance? He has made more ministers than previous administration.
He imported foreign cars for lawmakers instead of patronizing made in Nigerian cars to save forex.

Tinubu is a disaster that is already happening.

I understand the cost of governance part.... but then, for now thats like a drop in the ocean. The effect is not so far fetched.

CodeTemplar:
BMC agenda

Blame past admin for imminent poor performance.
Wait for Dangote to refine then take credit via propaganda.
Loot loot loot.
Blame hoarders for forex debacle.
Keep Obi Atiku on defensive always.

No propaganda here..

Rich4god:
Truth is, so far so good... The steps and the things Tinubu have done so far, given the option at his disposal, is actually very good for our country.
I only blame Tinubu for one thing. As a new president of a nation, you are not supposed to say "SUBSIDY IS GONE"... during your inaugural speech. That alone contributed to our troubles, but then it wasn't the genesis of our overall problem.

Before you start to crucify me, use your knowledge of economics and look critically into Buharis administration, then you will know that whoever that won the last election will face same thing that Tinubu is battling now and this battle can not be fought easily without causing more damage to the economy. So from the economic point of view, I don't know what magic any other candidates will have performed on the short term to salvage our situation.

After you finished spewing rubbish, you will come online and be begging for survival😎

Rich4god:


I understand the cost of governance part.... but then, for now thats like a drop in the ocean. The effect is not so far fetched.

Buhari and Tinubu are APC.

They attacked GEJ for subsidy removal.


APC with their cabal in occupy Nigeria are responsible for the current woes of Nigeria.

Rich4god:
Still typing ...

Let's take a look at what Buhari administration did.

First of all, Buhari administration borrowed money beyond imagination without investing in anything that will yield income for Nigeria. Buhari administration borrowed money just to share to the masses and a large percentage of the money they borrowed "went down the drain".

There was nothing tangible that anyone can point out to and say that this is the project they did with all the money they borrowed and that this project is capable of generating income to the nation....

Nothing to show for it.

Again, they not only borrow money, they also collected money in advance and use our crude oil production as a way of paying back. That's the famous "crude swap" that we are hearing.

In essence, within the next 2-3 years, the crude we are producing in Nigeria does not generate a new income for us, rather it's used to pay back the swap agreement.

In other words, Buhari administration did not only borrow Money that we are supposed to pay back, they also used our only source of income to do a swap deal which now leave us with no source of income for a long period of time.

What they did with all those money, we didn't know as there is nothing tangible that we can point to that they did with the money and that is commiserate with the money they collected.

In essence, Nigeria has plenty debt with no source of income for a period of time.

You mean buhari borrowed 47 trillion to share to the masses. Which masses? Even the 22 trillion cbn printed, no one knows how it was spent

nedu666:



You mean buhari borrowed 47 trillion to share to the masses. Which masses? Even the 22 trillion cbn printed, no one knows how it was spent

So you want to hear the exact word from my mouth.

Rich4god:
Truth is, so far so good... The steps and the things Tinubu have done so far, given the option at his disposal, is actually very good for our country.
I only blame Tinubu for one thing. As a new president of a nation, you are not supposed to say "SUBSIDY IS GONE"... during your inaugural speech. That alone contributed to our troubles, but then it wasn't the genesis of our overall problem.

Before you start to crucify me, use your knowledge of economics and look critically into Buharis administration, then you will know that whoever that won the last election will face same thing that Tinubu is battling now and this battle can not be fought easily without causing more damage to the economy. So from the economic point of view, I don't know what magic any other candidates will have performed on the short term to salvage our situation.

Hope you have knowledge of economics so that I don't waste my debate time?

You are talking as if tinubu has maintained the economy the way Buhari left it and nugerians are complaining


You removed subsidy... Now landing cost is now 1100 to 1200 so which means subsidy now would be 500 to 600 ( them no born tinubu well not to pay)
Or you want to deny there is no more subsidy?

Mind you subsidy was a boy 250 per litre during Buhari last days

So what exactly did tinubu achieve by saying subsidy is going...?


Tinubu floated the naira to reduce the gap between official rate and black market rate.... Today official rate is 750 ... Black market is 1300 difference is 550

Mind you difference under Buhari was 300

Again what did his policy achieve

Now you are here saying we should not blame him?

Minime10:


After you finished spewing rubbish, you will come online and be begging for survival😎

Brilliant reply.

MasterJayJay:

Buhari and Tinubu are APC.

They attacked GEJ for subsidy removal.


APC with their cabal in occupy Nigeria are responsible for the current woes of Nigeria.

And GEJ, the then president and commander in chief allowed tinubu and Buhari to intimidate him...

Who should we blame?

A serious president will not allow such

Rich4god:


I understand the cost of governance part.... [b]but then, for now thats like a drop in the ocean. [/b]The effect is not so far fetched.

See rationalization.

SUBSIDY IS GONE AND GONE FOR GOOD. TINUNOMICS IS DIFFERENT FROM BUHARINOMICS SO DON'T COMPARE THEM. TINUBU IS ODU-DU-IWA.

Keep explaining !


Evil ones
Evil party
Damn your Tinubu !

Artiiclebeast:
Na so...

The blame game continues.

This time, GEJ seems to be lucky to have been left out of it...

Buhari's handling of the economy is to be blamed abi?

So, why did BAT promise to continue from where Buhari stopped in his "great work" of handling the economy?

Una go explain tire.

2BabaNairaland:
Keep explaining !


Evil ones
Evil party
Damn your Tinubu !

Are you sure you are okay?

Ask yourself if you are okay?
Damn you !

Artiiclebeast:


Are you sure you are okay?

Rich4god:
Truth is, so far so good... The steps and the things Tinubu have done so far, given the option at his disposal, is actually very good for our country.
I only blame Tinubu for one thing. As a new president of a nation, you are not supposed to say "SUBSIDY IS GONE"... during your inaugural speech. That alone contributed to our troubles, but then it wasn't the genesis of our overall problem.

Before you start to crucify me, use your knowledge of economics and look critically into Buharis administration, then you will know that whoever that won the last election will face same thing that Tinubu is battling now and this battle can not be fought easily without causing more damage to the economy. So from the economic point of view, I don't know what magic any other candidates will have performed on the short term to salvage our situation.

I agree with everything you say.
I didn't vote for him.
Obi would have been worse.
Atiku can not be predicted.

Nigerians have not forgiven Sowore for the part he played against GEJ.
Sowore is better than all of them in my opinion

2BabaNairaland:
Ask yourself if you are okay?
Damn you !

Hahaha

Your misery and frustration is understandable.

Channel it into something productive so as not to end up tearing an artery and dying of internal bleeding.

Hunger kill you, miserable urchin.

I'm not responsible for your pathetic and frustrated life.

Channel your anger and frustration towards Baba Blue.

Tolumiide:


I agree with everything you say.
I didn't vote for him.
Obi would have been worse.
Atiku can not be predicted.

Nigerians have not forgiven Sowore for the part he played against GEJ.
Sowore is better than all of them in my opinion

Not fighting for GEJ was the greatest mistake Nigeria made.

A Nigeria without APC would have been far better than what we have now.

Mindlog:


See rationalization.

Nothing like ratinalization...

Rich4god:
Now after handover, like I said earlier, Tinubu made a mistake by saying "subsidy is gone" in his inaugural speech. That phrase sent our nation into panic and it affected the general price balance of virtually all commodity.

Economically speaking, in the absence of any form of major income, the only way to keep paying subsidy is to borrow money since we don't have money. Now borrowing will further compound the problem.

Same way, to keep defending the naira against USD is to keep borrowing as the major way that we get FX is already cut off. So the naira can't be defended. And because there is no major income from crude oil, the only thing giving our naira hope is our diaspora remittance and some other exports that mostly individual organisation do. The major source of FX is no longer coming and so the naira has nothing to hold on to.

Am not a supporter of Tinubu, but after taking a critical look at our nations situation. There is nothing aside MORE BORROWING that any other person can do to salvage the naira. Any other policy is going to be long term, but for the short term, our currency will experience free fall due to the mismanagement of the last admin.

Tinubu said he will continue from where Buhari stop? That should tell you he never sees Buhari's policy as an issue and he like hold Buhari in high regard.
Secondly,the present chief of staff Hon Gbajabiamila was the speaker of house of assembly, my question is did he give consent to the mindless borrowing? Obviously he did,this should tell you Tinubu as well was privy to it. This should tell it is still the same people who are regrouping.
Lastly,cost of governance has never been this high.Its obvious for all to see.

Rich4god:
Truth is, so far so good... The steps and the things Tinubu have done so far, given the option at his disposal, is actually very good for our country.
I only blame Tinubu for one thing. As a new president of a nation, you are not supposed to say "SUBSIDY IS GONE"... during your inaugural speech. That alone contributed to our troubles, but then it wasn't the genesis of our overall problem.

Before you start to crucify me, use your knowledge of economics and look critically into Buharis administration, then you will know that whoever that won the last election will face same thing that Tinubu is battling now and this battle can not be fought easily without causing more damage to the economy. So from the economic point of view, I don't know what magic any other candidates will have performed on the short term to salvage our situation.

Did he caution Buhari policy? No
The truth is that no foreign investors would do business with any country being headed by a known criminal. Tinubu would struggle to rule. People would suffer. Dissenting voices would be suppressed financially, physically or politically.

Tolumiide:


I agree with everything you say.
I didn't vote for him.
Obi would have been worse.
Atiku can not be predicted.

Nigerians have not forgiven Sowore for the part he played against GEJ.
Sowore is better than all of them in my opinion

Nigeria was destroyed in 2015. Those that involved in anti- Gej movement cannot rescue the economy. Sowore bo. That guy is not serious.
Likes of Dele Farotimi who supported Obi believe that political leadership needs to change for proper check and balance. No organ of government checked Buhari in second term. Tibubu has captured all institutions now. Nobody can check him. Dictatorship is not good for a struggling economy.

Urchin? I am not. It seems we both misunderstood urself.
As you can see, I am not someone that glued to social media stuff let alone Nairaland forum. Rarely I come online because I am a very busy man meaning I have something tangible doing.

Sincere apologies

Artiiclebeast:


Hahaha

Your misery and frustration is understandable.

Channel it into something productive so as not to end up tearing an artery and dying of internal bleeding.

Hunger kill you, miserable urchin.

I'm not responsible for your pathetic and frustrated life.

Channel your anger and frustration towards Baba Blue.