malali:
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.
Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

Yes, yes and yes!

At the end, we don't have governments , especially APC..which promised diversification in 2015, doing prudent investment, diversification and planning.

That's why we are chronically short on money, with looting making it worse, and corruption doing more to damage it....and thus no cash to pay for subsides.

You do not look beyond oil, issues arise when oil prices crash

(It helps that all the countries you listed, most of them have populations less than one tenth of ours too).

phorget:



You are too quick to mention what other politicians said, you should have allowed them to win and let's see how their own subsidy remover will look like nah. Your agbado master has become so clueless with his own style abeg.

If Obi or Atiku had won and dollar was not coming down from 650 baba Blu met it,or rice price stagnated at 35k and a kg of cooking gas remained at 700/kg,all the imps and the other gullibles now trying to defend Tinubu would have filled our ears with how Nigeria lost the golden chance to elect Tinubu who would have made ₦1=$1,Petrol ₦300/litre,cooking gas ₦100/kg and bag of rice ₦28k per 50kg.
Just like Buhari was exposed to be an incompetent,fraudulent scam,so baba Blu is being exposed to not just lacking capacity to govern,but being an upgraded scam of a leader.

Kukutenla:

You should ask your Emille o'Corn that daft question. You all have said subsidy removal and floating naira is good for the economy. Why then are you turning round to apportion blame to those who have nothing to do with the policies?

Is it mental cornfusion or corntusion?


Stop fishing for idiots Mr man. We all know on whose table this falls flatly

You have nothing upstairs to contribute other than to troll and abuse. Seun needs to create a tribal section where your likes would be swimming in the pool of abuse

I tell you, no sense...the economy is dying, demand is low, productivity low, people more hungry and angry, no disposable income, the economy shrinks and vicious circle sets in.

Economy is not by enriching a few and casting the majority into poverty.

Pythagoras001:
Just Solve the corruption and productivity issues

I think that's the only solution available to any government of Nigeria going forward, be it Tinubu, Atiku, or Obi.
Corruption among government officials have to stop and those who are caught should be prosecuted to serve as a deterrent.

With herdsmen killing, hunger will persist unless the government addresses the issue and settles the rift between farmers and herders. Alternatively, state police should be established to reduce the crime rate, especially kidnapping and banditry