kenny714433:
What would they do when there's Tinubulation in the land? Tinubu should resign

Confused Dreamer na suffer be your portion.

This type useless question no one asked during GEJ time

For some there is no other time to ask it. Only when there renewed hopelessness comes to their realities, they shift the goal post to defend their shameless.

Where is your graduate of Accountancy, wetin be his Business for France

Let"s not forget to ronu till casket drops

femisplash:

Dollar is too high?, Lol. Is the vegetables, egusi, yam, etc purchased from the farms in dollars?, is taxis paid for in dollars?. It's funny when you go buy a madu of garri and they say "you say dollar don high", Lol, funny greedy Nigerians. Governors were promised more funds to cushion subsidy effects. How many people has your Governor empowered in 6months?. The 5billion palliatives he receives, how many got palliatives in your state?.

The farmers don't buy clothes abi, them don't buy drugs, phones, and other imported goods

This shows you lack basic understanding of economics

DMerciful:
What was the inflation rate as at May 29?

Mind you inflation rate is different from inflation!

Inflation was always going to increase whether in May or December, the indices were glaring. The bottom line is that as at the year end, inflation stood at 28.2% and < 1% as at January. Your last sentence is absurd.

Ozommadu:


Seems like you're in the business of kidnapping and selling kids

Don't mistake me for your papa

your mothers are willingly selling off their kids so they could eat. I am not the one responsible for that, my nigga.





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mrvitalis:


The farmers don't buy clothes abi, them don't buy drugs, phones, and other imported goods

This shows you lack basic understanding of economics

Do you think everybody patronizes all things imported as you. if you can't afford a 40,000 phone, you go for a 15,000.

femisplash:

Do you think everybody patronizes all things imported as you. if you can't afford a 40,000 phone, you go for a 15,000.

Who are you to tell a hard working farmers what and what to do?

Lmao it's his money his life

femisplash:

Replica, you say?. You're very very untruthful to yourself, i don't know why you so chose to be blantanly dishonest. Meanwhile, allocations are shared on the basis of a standard sharing formula. I don't know how you mean by single or seperate entity.

What is the sharing formula?

Agboriotejoye:
What is the sharing formula?

52% - 48%(state+LG)

favor914:
Confused Dreamer na suffer be your portion.

Fergie001 mynd44 nlfpmod Seun Dominique Mukina2
Rule 2

@OP, your question is a very valid question. States have more allocation and what are they doing with it.

Well, the situation that CBN has noticed is that looters in those states probably use their share of the FAAC allocation to buy dollar which further puts pressure on the naira. It has been increasingly observed that the rush for USD usually happens not long after states get their share of their allocation.

It is a really big problem for CBN to deal with.

This is not to say there are no other factors, but this self-sabotaging one is fueled by an increase in allocation which was supposed to ordinarily cushion the effect of subsidy.

femisplash:

Do you think everybody patronizes all things imported as you. if you can't afford a 40,000 phone, you go for a 15,000.

And what if the one that was supposed to be selling for N15K is now sold for N40K?? Even if you didn't do basic economics in school, you should know by now that when the value of dollar goes up in any country, the price of commodities shoot up automatically - whether those commodities are imported or produced locally.

mrvitalis:

Who are you to tell a hard working farmers what and what to do?

Lmao it's his money his life

You've got to adjust to changing times, even within the family household. In South Africa, petrol price is going up pretty soon, fewer cars would ply the roads. You don't go lavishing during inflation.

femisplash:
The monthly allocations accrued to the states has seen a big increase since the removal of fuel subsidy. January 2024, FAAC shared 1.13trillion. In December 2023, 1.13trillion was shared, in November 2023, 1.78trillion shared. In August 2023, 1.13trillion was shared. These respective allocations were a big boost from 786billion that was shared on May 2023 at the tenure end of the last Administration. The President had a talk with the Governors over the subsidy removal and promised increased allocations to enable them cushion the effects and help them deliver to their people. So far, Governors haven't shown commiserable deliverables to the increase in allocation at their disposals. It appears to be that the Governors are less interested in driving the vision of the president than lining their pockets while their people groan and complain under their watch. The media are not putting the pressure on the Governors, everyone's eyes are fixed on the President.

Let me help you.

If state was spending 1 million before the devaluation of naira and removal of subsidy.

How much, should they be spending now?

femisplash:

Inflation was always going to increase whether in May or December, the indices were glaring. The bottom line is that as at the year end, inflation stood at 28.2% and < 1% as at January. Your last sentence is absurd.

That means, inflation has eaten up the increase.

RenaissanceGuy:
And what if the one that was supposed to be selling for N15K is now sold for N40K?? Even if you didn't do basic economics in school, you should know by now that when the value of dollar goes up in any country, the price of commodities shoot up automatically - whether those commodities are imported or produced locally.

The way you guys glorify dollar is crazy. Dollar and prices of our local produce are mutually exclusive, if borders weren't shut, if there was no insecurity or minimal insecurity, food prices would have been much stable and relatively lower. Excess imports is killing our reserves.

Beautifulday:


Let me help you.

If state was spending 1 million before the devaluation of naira and removal of subsidy.

How much, should they be spending now?

Devaluation is supposed to affect your balance of trade, discourages import and encourages export. The only thing that should affect your spending is inflation.

femisplash:
The monthly allocations accrued to the states has seen a big increase since the removal of fuel subsidy. January 2024, FAAC shared 1.13trillion. In December 2023, 1.13trillion was shared, in November 2023, 1.78trillion shared. In August 2023, 1.13trillion was shared. These respective allocations were a big boost from 786billion that was shared on May 2023 at the tenure end of the last Administration. The President had a talk with the Governors over the subsidy removal and promised increased allocations to enable them cushion the effects and help them deliver to their people. So far, Governors haven't shown commiserable deliverables to the increase in allocation at their disposals. It appears to be that the Governors are less interested in driving the vision of the president than lining their pockets while their people groan and complain under their watch. The media are not putting the pressure on the Governors, everyone's eyes are fixed on the President.

I already told starving Obi supporters to stone their governors if they fail to open treasury and feed their citizens.

Omoibo have every right to be fed at home, no need to relocate to Yorubaland to survive and not die of starvation.

Beautifulday:


That means, inflation has eaten up the increase.

From May till now, that's less than 6% inflation. A less than 6% has eaten up the increase?. stop clowning abeg.

https://www.nairaland.com/7992096/hunger-land-ask-what-governor/1#128318323

Dont die of hunger o.

Run along, you don't know anything

femisplash:

Inflation was always going to increase whether in May or December, the indices were glaring. The bottom line is that as at the year end, inflation stood at 28.2% and < 1% as at January. Your last sentence is absurd.

femisplash:

Devaluation is suppossed to affects your balance of trade, discourages import and encourages export. The only thing that should affect your spending is inflation.

Both affect your spending.

How much was diesel before devaluation and hoe much it is now?

Devaluation affect purchasing power

What you just stated is paper economics. Real time economics says, devaluation means more more to import same thing you think you are discouraging people from importing. That more more is passed to the consumers.

That affects the economy

femisplash:

From May till now, that's less than 6% inflation. A less than 6% has eaten up the increase?. stop clowning abeg.

0.5% increase in paper is not the same in the street.

femisplash:

52% - 48%(state+LG)

FG 52%
States 26%
Ls 22%

Out of the 26%, Kano gets about 0.7% while Lagos gets 0.8. Lagos also gets 13% derivation while Kano gets none. Bayelsa gets about 0.6% and also 13% derivation

So how does it make sense to lump all the states together and ask citizens to hold their governors accountable for a paltry 0.8% when the FG is holding 52%? How?!!!

BabaRamota1980:


I already told starving Obi supporters to stone their governors if they fail to open treasury and feed their citizens.

Omoibo have every right to be fed at home, no need to relocate to Yorubaland to survive and not die of starvation.

Co-signed 100%.

femisplash:

Devaluation is supposed to affect your balance of trade, discourages import and encourages export. The only thing that should affect your spending is inflation.

It shows how ignorant you are. So devaluation does not affect the purchasing power of your currency abi?

DMerciful:
Run along, you don't know anything

Bring your own stats.

9jatriot:
@OP, your question is a very valid question. States have more allocation and what are they doing with it.

Well, the situation that CBN has noticed is that looters in those states probably use their share of the FAAC allocation to buy dollar which further puts pressure on the naira. It has been increasingly observed that the rush for USD usually happens not long after states get their share of their allocation.

It is a really big problem for CBN to deal with.

This is not to say there are no other factors, but this self-sabotaging one is fueled by an increase in allocation which was supposed to cushion the effect.

I also read in the news how Governors divert funds to BDCs. Food for thought.

PressMyButton:

They can't protest, their Governors are saints, especially the LP Governor.

Why do you people argue like this?
Arguing from extremes standpoint is so stupid.
What you're really saying is you don't have a good enough counterpoint.

Anytime I argue about success n achievement with a nairalander.....their response, oh you must be a billionaire 🙄🤦🏾‍♂️🤣 so damn silly

Beautifulday:


Both affect your spending.

How much was diesel before devaluation and hoe much it is now?

Devaluation affect purchasing power

What you just stated is paper economics. Real time economics says, devaluation means more more to import same thing you think you are discouraging people from importing. That more more is passed to the consumers.

That affects the economy

In a sane proper economy, you can't have timber and be importing furnitures, poultry farms and be importing eggs.. Would rather a McDonald's than local bread. A terrifyingly import-dependent economy.

femisplash:
The monthly allocations accrued to the states has seen a big increase since the removal of fuel subsidy. January 2024, FAAC shared 1.13trillion. In December 2023, 1.13trillion was shared, in November 2023, 1.78trillion shared. In August 2023, 1.13trillion was shared. These respective allocations were a big boost from 786billion that was shared on May 2023 at the tenure end of the last Administration. The President had a talk with the Governors over the subsidy removal and promised increased allocations to enable them cushion the effects and help them deliver to their people. So far, Governors haven't shown commiserable deliverables to the increase in allocation at their disposals. It appears to be that the Governors are less interested in driving the vision of the president than lining their pockets while their people groan and complain under their watch. The media are not putting the pressure on the Governors, everyone's eyes are fixed on the President.

people should hold their state governors responsible

Agboriotejoye:

It shows how ignorant you are. So devaluation does not affect the purchasing power of your currency abi?

It only does when you over rely on importation.