Like I always say Agbados didn't put Tinubu in power ,it was the Obidients that singlehandedly installed Tinubu in power !!!!!!;if there was no Obidient movt no amount of miracle could have made Tinubu win

May 29, 2024

On ALL the aforementioned points, I have been vindicated.

Nlfpmod

Treadway:
May 29, 2024

On ALL the aforementioned points, I have been vindicated.

June 29, 2024😁😎

grandstar:


APC was never the problem. Buhari was.

He was grossly incompetent and many in his party knew that. I'm sure Tinubu realized so within 30 days of him assuming office.

However, the party had to put up with him as that was the only way they could hold on to piwer.

Though Buhari meant well, his poor intellectual background held him back. Many in his party called him an illiterate behind his back.

Tinubu is trying hard to undo the huge mess he left behind.

2. Buhari had no time ever attempted to float the Naira. There were 2 official rates from 2017 down to 2023. Where there's a float, there's only one official rate.

There was nothing wrong with floating the Naira. Tinubu wanted to wipe off the disparity between the official rate and black market rate which had been uses to siphon billions of dollars.

Since the floating, the disparity has closed. Yes, the floating was badly handled.

Also, one reason for the high inflation was the use of Ways and Means to finance the budget.

Ways and means is CBN printing of money to lend to the federal government. It is very inflationary. There's much more Naira chasing the same amount of Dollars and goods.

In addition, the CBN was and is still running a loose monetary policy. Economics dictates that the CBN interest rates must be above that of inflation, especially if inflation is high.

Inflation is 29% thereabouts while the CBN rates are circa 23%. If increased to around 30%, banks would buy up treasury bonds taking money out of the system. This would greatly reduce inflation.

However, Tinubu has said he wants interest rates low. The price we pay is therefore high inflation.

There was nothing wrong in removing subsidy and floating the Naira at the same time.

The truth is, he did not go far enough. Rather than just remove the subsidy on petrol, he should have fully deregulated the price of petrol as done alreasy with diesel, gas and kerosene. Government no longer fixes the price but it's left to market forces.

The benefit of full price deregulation of petrol would be massive. If anyone tells you the price would go down, he is deceiving you. It would only go down and up based on the price of crude oil and the value of the Naira. You can't expect the price of petrol to be the same at $50/barrel and $80/barrel. You can't expect the price of petrol to be the same when $1-800 and $1-1,200. You're an importer, so you will naturally understand these things.

The real benefit of petrol price deregulation is that it would lead to massive investment in the downstream sector of the economy There would be massive investments in the building of refineries.

When GSM started, there was deregulated pricing. GSM operators were free to charge their desired prices. MTN and AIRTEL charged N50/minute, while MTEL choose a masses friendly price of N22. The first two were able to invest billions of dollars because they charged prices that made them profitable. Mtel meanwhile is as dead as a dodo today..

Today, due to deregulated pricing, there are over 100m cell phone users, from 400,000 in year 2000.

Government should also have deregulated the price of electricity. Electricity is sold at subsidized prices. The federal government isvto make up the difference but it hasn't been faithful. Presently, it owes the Gencos $1.3bn and the Discos N1.3tr naira. With the fall of the Naira, the price of supplying electricity has gone further up, while the price of electricity has remained static since May last year. That is why hardly any power is being supplied.

3. Yemi Cardoso

The primary reason Tinubu appointed Cardoso was because he was probably his "boy." Many economists here criticized his appointment as he was unqualified to head the CBN ,especially at this critical moment in the nation's economy.

Tinubu wanted someone he could control. This is sad as the central bank has autonomy and it was to prevent such an unholy alliance the president now has with the sitting head.

It was also Buhari's interference with the CBNs duties that dealt the economy a heavy blow during his inglorious 8 years in office.

Well, it seems now the Naira is appreciating. It does not however change the need for a more competent head to be appointed for the central banks post.

4. I have to be honest with you, I am apolitical. I have no obsession with politics.

The biggest problem creeping up now is cronyism, nepotism and corruption.

You have the railway contract awarded to a suspicious company. You have the OPL 245 oil well awarded to Tinubu of OANDO. Tinubu's son in law was placed in charged of the Federal Mortgage Bank.

I doubt any privatization or commercialization carried under this government would be free and fair. For the free market to work properly, transparency is key. That is why the GSM auction in the early 2000s was met with praise and the country has benefitted greatly from it.

5. Nigeria never had an import problem. Nigerias problem has always been an export problem. The country is too reliant on crude oil exports for dollar inflows and when the oil price crashes, the Naira takes a beating. Since it was a reduction in dollars that brought about the problem, Nigeria needs to start exporting more non-oil products.

You said you're a car dealer. You probably import cars. Are you a liability to the nation? With your profits, don't you pay rent, build house, pay school fees, feed your family and so on? Don't you deposit some into the bank?

Imports are actually extremely good for the economy and is a recognized driver of growth.

That is why import substitution policies are counterproductive. In addition, countries do best when they pour into areas they have competitive and comparative advantage. Import substitution encourages the pouring of resources where you don't do well.

Look at cement. All what the cement ban did was to make two Nigerians dollar billionaires. Everyone knows that Nigerians are overcharged for cement. The profit margins these guys make is unheard in the industry. It is the kind of margins online game makers make, who store no physical inventory.

The building industry suffers because of the ban. It wasn't Tinubu that banned the importation but Obj.

If companies are packing out, it is due to the severity of the mess Buhari left behind. There was $7bn uncleared forex contracts while there was barely $3bn left in the foreign reserves. It was the shortage of foreign reserves that made many of these companies quit the country.

The proper thing for Nigeria to have done would have been to contact the IMF for balance of payment support in the form of a loan. The IMF would lend Nigeria $20bn for it to build its reserves. When Nigeria has rebuilt its reserves, the country will repay it. Tinubu knew Nigerians wouldn't welcome that and would blame any painful economic policy on the IMF, without seeing why.

Nice rebuttal

Difrent:


Nice rebuttal

was it? If anything even the person you quoted was made to see and admit that most of those positions were in some cases false, and in some cases wrong.

At the end of the day, it is one thing for Buhari who is largely uneducated to make grievous mistakes, it is another for a supposed maestro and 'educated first class accountant' to make the exact mistakes on a far more disastrous scale...


But to each his own😎

Treadway:
was it? If anything even the person you quoted was made to see and admit that most of those positions were in some cases false, and in some cases wrong.

At the end of the day, it is one thing for Buhari who is largely uneducated to make grievous mistakes, it is another for a supposed maestro and 'educated first class accountant' to make the exact mistakes on a far more disastrous scale...


But to each his own😎

I didn't wholly disagree with you
And I didn't wholly agree with him
I just said it was a nice rebuttal
And I have a right to that just like you have to your thoughts

Difrent:


I didn't wholly disagree with you
And I didn't wholly agree with him
I just said it was a nice rebuttal
And I have a right to that just like you have to your thoughts

true that.

Na why I end am with, 'To each his own'

I have arrived and I promise to speak the truth and nothing but the truth except if the truth is a lie. This is going to be long cause I really want to engage.
Treadway I'm disappointed that you actually can't see through grandstar that's he's an agbadorian on stealth mode. He's one of those who have dropped Buhari like hot potato and is now tactically supporting the present gamer. Just go through his posts and be illuminated.
But I digress. Let me first go to the politics side. I see salamrushdie is still blaming Obi for PDP's loss in 2023. I have said this and no one can dispute it. With or without Obi, PDP would have lost 2023 as long as they had that G5 division in their ranks. What happened in 2023 is simply a rehash of the events leading up to 2015. It is convenient to blame Obi because he's just one man and it's easy to point a finger at one than many and of course, because he ended up losing. If Obi had defected to APC like nPDP did in 2014, no one will blame him for PDP's loss. But it's simply the same events in a different format. Wike is to Atiku in 2023 as Amaechi was to GEJ in 2015. Wike is now the superminister who everyone points to as the shinning light in a drab administration just as Amaechi was the shinning light as transport minister under Buhari. Both have used Rivers' resources to further their personal agenda and ego by laying with strange bedfellows. One has received his comeuppance, the other is being put on ice till 2031 when he will consider himself the best bet for VP but be told he does not have the temperament for such position. Bookmark this.
PDP's G5 weakened the party and made it impossible to launch a serious assault on the APC and its woeful performance. Instead, they spent most of their time answering questions on Wike and who should be the chairman of the party. Kwankwaso stole 1m votes from Atiku in Kano but no one has blamed him. Only those who are on the inside of the party are aware of how much damage Wike did and is still doing to the internal cohesion of the party. No army can go to a war with division in its rank and expect to win. If PDP cannot find a way to kick out Wike before 2027, +/- Obi, they will still lose. You can see how Wike is doing Obaseki in Edo presently. That's the same spoiler game he's planning to play in 2027. He's targeting 2031. If the other folks in PDP are ready to allow him use their heads to break his coconut, na their cup of kunu be dat. But he will still be used and dumped like all the other nPDP were. None of them is still standing strong in APC today. Ndume the last one is being told to go home already.
The twin demons in APC are Buhari and Tinubu which brings me to the duplicity of the comment I read from our beloved stealth agbadorian divorcing APC from the disaster called buhari in one hit of the hammer! Who does that? That's like separating the shell from the tortoise. Buhari is APC and APC is Buhari. Just as Tinubu is APC and APC is Tinubu. There's no more vivid testimony to the possibility of the existence of the trinity than this phenomenon. They are bound together by a common hate for PDP and creed to ensure those who inhabit the three letters never taste power again. Every other thing is secondary and i always wonder why those who are in the PDP seem so oblivious of that hateful glue. Which brings me to the economy.
The most shocking event I've ever witnessed in my existence is the willingness of the average Nigerian to be a participant in his economic immolation by joining the chorus of fuel subsidy must go. Now, I've always been an advocate of subsidy retention and I'm sad events have proven me right. If you wake the average Nigerian up before last year and ask him what he thinks about fuel subsidy, he will open his mouth wide and parrot fuel subsidy is bad and must go even though he has no clue what is being implied by that request. I actually took my time to research and study the whole subsidy thing and I found out that all major economies in the world with large scale industrialisation have a subsidy or the other at its base. The UK at the height of its economic prowess, which was during the colonial times was running a highly subsidised economy. The moment colonialism ended, UK economy shrunk in size and influence to what it is today. The US, China, Russia, India and such other economies that rule the world have billions of dollars in subsidy. But maybe we really can't afford subsidy. Is that even true? How can a nation with vast oil reserves and four refineries never mind their status claim to be unable to afford subsidy for the same fuel?!! Subsidy has existed since the 70s in Nigeria and it never ran our refineries aground. Saudi Arabia has subsidy on its fuel and it runs the same model we used to run in the 70s. So how come suddenly subsidy is bad in our case? Well, good or bad, we can all see the result now.
As for the APC and the economy, we have to realise that each successive government since 1999 has always looked to repudiate whatever the predecessor was doing before they came into office without sparing a second thought on the rationale behind it. It happened with Yar'Adua after OBJ and so it occurred with Tinubu after Buhari. I see it as politics interfering in economic matters. The new guy in a bid to look different and energise his base goes the extreme left from whatever he met in ground. The gullible base then have something to defend while they are the worse for it. It shows mostly that our leaders have no independent ideas or thoughts they hope to implement when they come into office. All they see when outside the office is faults and not solutions. So when they come in, they begin playing to the gallery with populist ideas. APC is the worst. They simply merry-go-round the economy with no target or deliverables while hiding under infrastructure. Tinubu is doing exact same thing Buhari did in his early days. Their supporters are singing exact same song of "mess" they sang 9 years ago. Tinubu is mouthing FDI as the reason for his travels just like Buhari did. Tinubu is ordering for more farming just like Buhari did. So who in his right mind will say both are different?!! Tinubu, Buhari, APC are one and the same. Same mallam, same kettle.
I rest my case.

Kukutenla:

I have arrived and I promise to speak the truth and nothing but the truth except if the truth is a lie. This is going to be long cause I really want to engage.
Treadway I'm disappointed that you actually can't see through grandstar that's he's an agbadorian on stealth mode. He's one of those who have dropped Buhari like hot potato and is now tactically supporting the present gamer. Just go through his posts and be illuminated.
But I digress. Let me first go to the politics side. I see salamrushdie is still blaming Obi for PDP's loss in 2023. I have said this and no one can dispute it. With or without Obi, PDP would have lost 2023 as long as they had that G5 division in their ranks. What happened in 2023 is simply a rehash of the events leading up to 2015. It is convenient to blame Obi because he's just one man and it's easy to point a finger at one than many and of course, because he ended up losing. If Obi had defected to APC like nPDP did in 2014, no one will blame him for PDP's loss. But it's simply the same events in a different format. Wike is to Atiku in 2023 as Amaechi was to GEJ in 2015. Wike is now the superminister who everyone points to as the shinning light in a drab administration just as Amaechi was the shinning light as transport minister under Buhari. Both have used Rivers' resources to further their personal agenda and ego by laying with strange bedfellows. One has received his comeuppance, the other is being put on ice till 2031 when he will consider himself the best bet for VP but be told he does not have the temperament for such position. Bookmark this.
PDP's G5 weakened the party and made it impossible to launch a serious assault on the APC and its woeful performance. Instead, they spent most of their time answering questions on Wike and who should be the chairman of the party. Kwankwaso stole 1m votes from Atiku in Kano but no one has blamed him. Only those who are on the inside of the party are aware of how much damage Wike did and is still doing to the internal cohesion of the party. No army can go to a war with division in its rank and expect to win. If PDP cannot find a way to kick out Wike before 2027, +/- Obi, they will still lose. You can see how Wike is doing Obaseki in Edo presently. That's the same spoiler game he's planning to play in 2027. He's targeting 2031. If the other folks in PDP are ready to allow him use their heads to break his coconut, na their cup of kunu be dat. But he will still be used and dumped like all the other nPDP were. None of them is still standing strong in APC today. Ndume the last one is being told to go home already.
The twin demons in APC are Buhari and Tinubu which brings me to the duplicity of the comment I read from our beloved stealth agbadorian divorcing APC from the disaster called buhari in one hit of the hammer! Who does that? That's like separating the shell from the tortoise. Buhari is APC and APC is Buhari. Just as Tinubu is APC and APC is Tinubu. There's no more vivid testimony to the possibility of the existence of the trinity than this phenomenon. They are bound together by a common hate for PDP and creed to ensure those who inhabit the three letters never taste power again. Every other thing is secondary and i always wonder why those who are in the PDP seem so oblivious of that hateful glue. Which brings me to the economy.
The most shocking event I've ever witnessed in my existence is the willingness of the average Nigerian to be a participant in his economic immolation by joining the chorus of fuel subsidy must go. Now, I've always been an advocate of subsidy retention and I'm sad events have proven me right. If you wake the average Nigerian up before last year and ask him what he thinks about fuel subsidy, he will open his mouth wide and parrot fuel subsidy is bad and must go even though he has no clue what is being implied by that request. I actually took my time to research and study the whole subsidy thing and I found out that all major economies in the world with large scale industrialisation have a subsidy or the other at its base. The UK at the height of its economic prowess, which was during the colonial times was running a highly subsidised economy. The moment colonialism ended, UK economy shrunk in size and influence to what it is today. The US, China, Russia, India and such other economies that rule the world have billions of dollars in subsidy. But maybe we really can't afford subsidy. Is that even true? How can a nation with vast oil reserves and four refineries never mind their status claim to be unable to afford subsidy for the same fuel?!! Subsidy has existed since the 70s in Nigeria and it never ran our refineries aground. Saudi Arabia has subsidy on its fuel and it runs the same model we used to run in the 70s. So how come suddenly subsidy is bad in our case? Well, good or bad, we can all see the result now.
As for the APC and the economy, we have to realise that each successive government since 1999 has always looked to repudiate whatever the predecessor was doing before they came into office without sparing a second thought on the rationale behind it. It happened with Yar'Adua after OBJ and so it occurred with Tinubu after Buhari. I see it as politics interfering in economic matters. The new guy in a bid to look different and energise his base goes the extreme left from whatever he met in ground. The gullible base then have something to defend while they are the worse for it. It shows mostly that our leaders have no independent ideas or thoughts they hope to implement when they come into office. All they see when outside the office is faults and not solutions. So when they come in, they begin playing to the gallery with populist ideas. APC is the worst. They simply merry-go-round the economy with no target or deliverables while hiding under infrastructure. Tinubu is doing exact same thing Buhari did in his early days. Their supporters are singing exact same song of "mess" they sang 9 years ago. Tinubu is mouthing FDI as the reason for his travels just like Buhari did. Tinubu is ordering for more farming just like Buhari did. So who in his right mind will say both are different?!! Tinubu, Buhari, APC are one and the same. Same mallam, same kettle.
I rest my case.

Your write-up was full of sentiments and not substance. It shows a poor understanding of economics and even politics.

You mention being a full supporter of the fuel subsidy. This report states the country may owe as much as $6bn to oil traders. Who is going to pay the $6bn? https://punchng.com/nnpc-disagrees-as-report-puts-petrol-debt-at-6bn/

If the country owes $6bn, it simply indicates the government does not have the funds to continue it. This $6bn would be added to the country's debt, further increasing the huge debt burden the country is unable to carry. You support the continuation of the subsidy so that by next year, another $6bn would be added, that is if they decide to still sell to the nation on credit.

Kukutenla:

I have arrived and I promise to speak the truth and nothing but the truth except if the truth is a lie. This is going to be long cause I really want to engage.
Treadway I'm disappointed that you actually can't see through grandstar that's he's an agbadorian on stealth mode. He's one of those who have dropped Buhari like hot potato and is now tactically supporting the present gamer. Just go through his posts and be illuminated.
But I digress. Let me first go to the politics side. I see salamrushdie is still blaming Obi for PDP's loss in 2023. I have said this and no one can dispute it. With or without Obi, PDP would have lost 2023 as long as they had that G5 division in their ranks. What happened in 2023 is simply a rehash of the events leading up to 2015. It is convenient to blame Obi because he's just one man and it's easy to point a finger at one than many and of course, because he ended up losing. If Obi had defected to APC like nPDP did in 2014, no one will blame him for PDP's loss. But it's simply the same events in a different format. Wike is to Atiku in 2023 as Amaechi was to GEJ in 2015. Wike is now the superminister who everyone points to as the shinning light in a drab administration just as Amaechi was the shinning light as transport minister under Buhari. Both have used Rivers' resources to further their personal agenda and ego by laying with strange bedfellows. One has received his comeuppance, the other is being put on ice till 2031 when he will consider himself the best bet for VP but be told he does not have the temperament for such position. Bookmark this.
PDP's G5 weakened the party and made it impossible to launch a serious assault on the APC and its woeful performance. Instead, they spent most of their time answering questions on Wike and who should be the chairman of the party. Kwankwaso stole 1m votes from Atiku in Kano but no one has blamed him. Only those who are on the inside of the party are aware of how much damage Wike did and is still doing to the internal cohesion of the party. No army can go to a war with division in its rank and expect to win. If PDP cannot find a way to kick out Wike before 2027, +/- Obi, they will still lose. You can see how Wike is doing Obaseki in Edo presently. That's the same spoiler game he's planning to play in 2027. He's targeting 2031. If the other folks in PDP are ready to allow him use their heads to break his coconut, na their cup of kunu be dat. But he will still be used and dumped like all the other nPDP were. None of them is still standing strong in APC today. Ndume the last one is being told to go home already.
The twin demons in APC are Buhari and Tinubu which brings me to the duplicity of the comment I read from our beloved stealth agbadorian divorcing APC from the disaster called buhari in one hit of the hammer! Who does that? That's like separating the shell from the tortoise. Buhari is APC and APC is Buhari. Just as Tinubu is APC and APC is Tinubu. There's no more vivid testimony to the possibility of the existence of the trinity than this phenomenon. They are bound together by a common hate for PDP and creed to ensure those who inhabit the three letters never taste power again. Every other thing is secondary and i always wonder why those who are in the PDP seem so oblivious of that hateful glue. Which brings me to the economy.
The most shocking event I've ever witnessed in my existence is the willingness of the average Nigerian to be a participant in his economic immolation by joining the chorus of fuel subsidy must go. Now, I've always been an advocate of subsidy retention and I'm sad events have proven me right. If you wake the average Nigerian up before last year and ask him what he thinks about fuel subsidy, he will open his mouth wide and parrot fuel subsidy is bad and must go even though he has no clue what is being implied by that request. I actually took my time to research and study the whole subsidy thing and I found out that all major economies in the world with large scale industrialisation have a subsidy or the other at its base. The UK at the height of its economic prowess, which was during the colonial times was running a highly subsidised economy. The moment colonialism ended, UK economy shrunk in size and influence to what it is today. The US, China, Russia, India and such other economies that rule the world have billions of dollars in subsidy. But maybe we really can't afford subsidy. Is that even true? How can a nation with vast oil reserves and four refineries never mind their status claim to be unable to afford subsidy for the same fuel?!! Subsidy has existed since the 70s in Nigeria and it never ran our refineries aground. Saudi Arabia has subsidy on its fuel and it runs the same model we used to run in the 70s. So how come suddenly subsidy is bad in our case? Well, good or bad, we can all see the result now.
As for the APC and the economy, we have to realise that each successive government since 1999 has always looked to repudiate whatever the predecessor was doing before they came into office without sparing a second thought on the rationale behind it. It happened with Yar'Adua after OBJ and so it occurred with Tinubu after Buhari. I see it as politics interfering in economic matters. The new guy in a bid to look different and energise his base goes the extreme left from whatever he met in ground. The gullible base then have something to defend while they are the worse for it. It shows mostly that our leaders have no independent ideas or thoughts they hope to implement when they come into office. All they see when outside the office is faults and not solutions. So when they come in, they begin playing to the gallery with populist ideas. APC is the worst. They simply merry-go-round the economy with no target or deliverables while hiding under infrastructure. Tinubu is doing exact same thing Buhari did in his early days. Their supporters are singing exact same song of "mess" they sang 9 years ago. Tinubu is mouthing FDI as the reason for his travels just like Buhari did. Tinubu is ordering for more farming just like Buhari did. So who in his right mind will say both are different?!! Tinubu, Buhari, APC are one and the same. Same mallam, same kettle.
I rest my case.

you finish work for here o.😁

On my PADI grandstar, I know say e dey disguise na...I still enjoy his civil dialogues, and I chose to ignore his inclination and agree with him as he has said he is neutral. Even my padi Sukkot wey be confam agbado wey no dey disguise sef, na still my homie l'ojo k'ojo😁.

Nice submission. You have spoken/typed well.

grandstar:


Your write-up was full of sentiments and not substance. It shows a poor understanding of economics and even politics.

You mention being a full supporter of the fuel subsidy. This report states the country may owe as much as $6bn to oil traders. Who is going to pay the $6bn? https://punchng.com/nnpc-disagrees-as-report-puts-petrol-debt-at-6bn/

If the country owes $6bn, it simply indicates the government does not have the funds to continue it. This $6bn would be added to the country's debt, further increasing the huge debt burden the country is unable to carry. You support the continuation of the subsidy so that by next year, another $6bn would be added, that is if they decide to still sell to the nation on credit

You are not reading to assimilate
It is hypocritical to use subsidy as an excuse for debt accumulation. This govt that claimed to remove subsidy has been incurring debt too. Every govt has removed subsidy at one point or the other in their lifetime since 1999 and that has not stopped them from incurring debt. So to posture as if removal of subsidy will solve our debts problem is simply dishonesty.

What is the $6bn for? Who incurred it and for what? That is how some people ran with a World Bank estimate of using 90% of our revenues to service debts when there was no evidence to back it up. Till today, some people still refer to it. Meanwhile our debt still continued to balloon in a way that defied mathematical calculations of 90% revenue servicing debts. Rest abeg

July 29, 2024😎

Treadway:
Today September 16, 2024, and fuel is officially 1k, all because the bastards that some blind bats enthroned, decided to turn the naira to tissue paper. Cursed be the APC!

The fools online and offline that were expecting fuel to be 300, how far?

As usual, the fools don't even know that the worst has just begun. Let me explain, even though fools still won't understand.

Fuel is gonna be expensive yea, but that is not all, you will still queue likely everyday to buy it. It will not be ready available anytime soon, maybe not even a year from now.

Cos only 1 full tanker will cost approx 50m naira, ONLY NNPC and a few big players eg Bovas will have the financial muscle to buy stock, meaning all the small players with small petrol stations will never open again. Even the Bovas will not buy stock everyday compared to when fuel was affordable. 10 Bovas station would amount to a bill of 500m, if na you would you be spending that everyday?? Meaning only the NNPC, will readily have fuel, meaning queues. The era of readily getting fuel anywhere is basically dead and gone for the foreseeable future. So much for fuel subsidy removal as a solution to all problems as touted by nairalanda1.

God go punish APC for making the naira toilet paper. We will not be in the hapless hopeless state, if they just kept the naira strong till this refinery started. I don't see any respite anytime soon. You will buy fuel at high rates and still toil and queue to find/buy it.

Ha! What a shambles!

Still does not change the fact that subsidy has to go for petrol to be sold and exported from this country.

Stop weeping. You and your apc friends are why this country is in a mess.

Nigeria must industrialize.

SalamRushdie:
Like I always say Agbados didn't put Tinubu in power ,it was the Obidients that singlehandedly installed Tinubu in power !!!!!!;if there was no Obidient movt no amount of miracle could have made Tinubu win

Unfortunately true.

APC lost a large share of the vote between 2019 and 2023. APC Lost ten million votes. IN 4 years.

They would have lost if the PDP vote was not split three ways between Obi, Atiku and Kwankwaso...yes, because if Kwankwaso votes had gone to PDP , they would have won hands down.

nairalanda1:



Still does not change the fact that subsidy has to go for petrol to be sold and exported from this country.

Stop weeping. You and your apc friends are why this country is in a mess.

Nigeria must industrialize.

lol


Let me put in in elementary English, maybe your code/algorithm go pick that up. Even with subsidy removal, if naira had not been turned to tissue paper, petrol will likely cost around 500, hyperinflation that has completely destroyed the populace would not have happened, and the fuel scarcity that will continue to happen, thanks to 90% of the stakeholders being priced out of the game wouldn't be the case.

Treadway:
lol

Whether you laugh or not, Nigeria must industrialize, old boy.

nairalanda1:


Whether you laugh or not, Nigeria must industrialize, old boy.

your code/algorithm doesn't show you that this is a very very tall order when there are high energy costs married to extreme poverty? The existing industries are folding up as we speak!! This your code get bugs o..

Treadway:
your code/algorithm doesn't show you that this is a very tall order when there are high energy costs, and extreme poverty? This your code get bugs o

Well, it does not matter whether you think I exist or not, Nigeria must industrialze, and fuel must be sold at a proft.

You should not let these facts anger you too well, and sorry, but you cannot buy fuel at N30 or N90 naira per liter. It was a mirage. And this current priceing is more of the same mirage.

Both you and your government are engaging in self deceit. At the end , the economy suffers.

Well, don't matter, you can pretend I am the source of your problems, and anger after all...like y'all do , just because I support a central tenet of capitalism.

nairalanda1:


Well, it does not matter whether you think I exist or not, Nigeria must industrialze, and fuel must be sold at a proft.

You should not let these facts anger you too well, and sorry, but you cannot buy fuel at N30 or N90 naira per liter. It was a mirage. And this current priceing is more of the same mirage.

Both you and your government are engaging in self deceit. At the end , the economy suffers.

Well, don't matter, you can pretend I am the source of your problems, and anger after all...like y'all do , just because I support a central tenet of capitalism.

who said anything about 30 or 90? This code has bugs. I wrote 500 up there. Receive the input <500> not 30 or 90
Receive the input <naira turned into tissue paper>
Receive the input <fuel queues are here to stay for the foreseeable future>

nairalanda1:
Unfortunately true.

APC lost a large share of the vote between 2019 and 2023. APC Lost ten million votes. IN 4 years.

They would have lost if the PDP vote was not split three ways between Obi, Atiku and Kwankwaso...yes, because if Kwankwaso votes had gone to PDP , they would have won hands down.

Nonsense. When Atiku ran with Peter Obi in 2019, did Buhari not win? You guys like conjuring irrelevant things as solid point.

Instead of you to blame INEC for doing what they have usually done in past, you are yapping about splitting of PDP votes.

On the subsidy issue, the problem is not whether subsidy should remain or not. The issue is you have the most incompetent president in the history of Nigeria running the show. Na him be minister of petroleum.

This why I want Tinubu/APC to win in 2027 so the shege go don soak us wella.

lastkingsman:


Nonsense. When Atiku ran with Peter Obi in 2019, did Buhari not win? You guys like conjuring irrelevant things as solid point.

Instead of you to blame INEC for doing what they have usually done in past, you are yapping about splitting of PDP votes.

On the subsidy issue, the problem is not whether subsidy should remain or not. The issue is you have the most incompetent president in the history of Nigeria running the show. Na him be minister of petroleum.

This why I want Tinubu/APC to win in 2027 so the shege go don soak us wella.

leave the dolts. They want us to change things by doing the same shittt we have always done. 2023 was supposed to be the time to make a defining statement..unfortunately that didn't happen, and the fucktards, who are most affected are giddy about it...and now unfortunately we all must now suffer as a result.

What a shambles!

lastkingsman:


Nonsense. When Atiku ran with Peter Obi in 2019, did Buhari not win? You guys like conjuring irrelevant things as solid point.

Instead of you to blame INEC for doing what they have usually done in past, you are yapping about splitting of PDP votes.

On the subsidy issue, the problem is not whether subsidy should remain or not. The issue is you have the most incompetent president in the history of Nigeria running the show. Na him be minister of petroleum.

This why I want Tinubu/APC to win in 2027 so the shege go don soak us wella.

Buhari is a cult politican in the North, that is why he won so high number of votes , despite being a useless president. Once he was off the ballot, APC votes fell in the North.

The figures back me up. 19 Million in 2019 for apc, down to 8 millon in 2023. If not that Obi divided the vote, Tinubu would have been in retirement, not president.

Also, you are daft to think that my opinion means I support this government, or I excuse evil. Grow up.

From your your mention

Treadway:
Today makes 1 year that the calamitous regime took power, and I am happy that on all these points, I have been totally vindicated 💯


1. Returning APC to power, after the colossal failure of the 8 year Buhari administration, from same APC.

Forget the innuendos of the brain dead vulture griller and it's 'darling daddy' drab lines courtesy 'dem manna', this is one rabbit hole I didn't expect even 500000 people to fall into. After what Buhari did to Nigeria, why would any right-thinking person want to entrust/reward the APC with power again? When you reward incompetence so consistently, you embolden it and institutionalise it, as is the case today, yesterday, and possibly evermore..(cos I don't know what the hell these people are smoking). The right thing is the APC should not have been rewarded for failure. Even if I supported Obi and he lost, i would have been proud of Nigerians if they had voted Monkey party, worm party, just about any party but the disaster called the APC

While this is true, the issue was enthroning Buhari/APC into power. Buhari who was a dictator was never going to suddenly change into a reformed democrat like the ediots in Red Media. Buhari should not have become the president in 2015. That is where the problem commenced from.

2. Fuel Subsidy and Naira Float misadventure

I sell cars, and in January I sold the last V6 vehicle I had in stock, I also purchased 500l of fuel for keeps (which lasted me till October thankfully). I did all that because I expected and support the idea of fuel subsidy removal. What I did not expect, was Bola Thubv would win and repeat the same mistakes that Buhari/Emefiele made on a more disastrous scale. In 2015, Buhari took the equally 'bold' step to remove subsidy. Fast forward to second qtr 2016, he also foolishly decided to float the naira. What happened? The dollar moved from 180/200s to 360/400's. Because we import fuel, this impacted the fuel costs which had been largely stable from May 2015 till that time, and en last year or two years ago. The right thing was to remove subsidy, and still defend the naira to keep the effects of the subsidy removal controlled. [b]If you were hypothetically using 1trillion on subsidy per month, ain't it just common sense to use say 300billion to defend naira and still partly save 700bllion that would have gone into subsidy. The drop in the value of the naira which had affected everything else would not have happened, it was totally avoidable but for the arrogant and reckless Thubv. How could these people vote APC??[/b]

Why do we have to still defend the naira? Should the currency not be allowed to be where it ought to be on its own?

3. Cardunce-o The CBN Governor

Need I say more? In a time of economic peril one should expect a reasonable govt to put square pegs in square holes. But no, they put a goat in charge of yam. All the real sectors are declaring bumper losses, only banks are declaring bumper profits, same caucus that Cardunce-o is part of same caucus that has benefitted from round tripping and arbitrage, is the same individual that Thubv thought right to head the CBN, an individual that managed a low-tier bank with probably less than 15 branches, na im Una expect to formulate sound policies in a time of economic peril? Laughable! The right thing to do would have been to recruit a capable, skilled and vastly experienced economist someone with a brain and resume like NOI. No cap, with my tiny MBA I go bench Cardunce-o, tell Thubv to ring me up asap!

To be honest, regardless of the CBN governor's qualifications and credentials, he would still be answerable to Tinubu. There is little independence between both corridors of power, especially judging Emefiele and Buhari's bromance.

4. Propaganda on overdrive

The level of insincerity is mind-boggling and irritating. The lies are too much. You literally can't trust a word these mofos are saying ever. Thank God for the individuals who dey leak some of their plans to the press. Thank God for the internet, we would have been so much in the dark on everything. We would probably be planning a Dubai trip riding on the words of Ajuri and get gobsmacked upon the feedback from the visa application. The right thing...is impossible to do for this govt. They are relentlessly untruthful, deceitful, self-serving and incapable of doing the right thing. It is their MO.

APC has lied for more than a decade since I started following Nigeria's politics. Since 2021, the consistency should be applauded though. It went on an overdrive in 2014-2015.

I thought I saw insecurity somewhere, but the silence from some parts of the country, when Fulani herdsmen went overdrive in destroying communities, ransacking people's farmlands and causing havoc across many parts of the country, was terrible. Nigeria is too divisive to get a president or politicians who have the country's heart.

Kukutenla:

I have arrived and I promise to speak the truth and nothing but the truth except if the truth is a lie. This is going to be long cause I really want to engage.
Treadway I'm disappointed that you actually can't see through grandstar that's he's an agbadorian on stealth mode. He's one of those who have dropped Buhari like hot potato and is now tactically supporting the present gamer. Just go through his posts and be illuminated.

He does support Buhari, and did so in 2015 and 2019. He is one of those Nigerians with plenty of degrees who term themselves as intellectwats meanwhile they campaigned and voted for a man whose business defied the basic laws of economics and biology. I find it hard to consider people who campaigned and voted for Buhari in 2015 to be serious and intelligent.

Sorry Mr Treadway because I know I would be accused of being rude and loud-mouthed, but that is my candid opinion.

Thank you.

P.S. That said, subsidy has to go. The comparison with India, Russia or the US is lopsided. Those are largely homogenous countries, with long histories, relatively strong institutions etc. Nigeria is too divided to sustain subsidies. We are too populated vis-a-vis to our oil production to claim we are a rich country. Yes, there is corruption, but that is largely because there have been government's intereferences over the years. The economy should be freer than it is as it is practised in the US - let there be little government interference in people's daily activities or the economy. Mr IbeOkehie has written countless times on this issue.

Gerrard59:
From your your mention


While this is true, the issue was enthroning Buhari/APC into power. Buhari who was a dictator was never going to suddenly change into a reformed democrat like the ediots in Red Media. Buhari should not have become the president in 2015. That is where the problem commenced from.


[code]Why do we have to still defend the naira? Should the currency not be allowed to be where it ought to be on its own?


To be honest, regardless of the CBN governor's qualifications and credentials, he would still be answerable to Tinubu. There is little independence between both corridors of power, especially judging Emefiele and Buhari's bromance.


APC has lied for more than a decade since I started following Nigeria's politics. Since 2021, the consistency should be applauded though. It went on an overdrive in 2014-2015.

I thought I saw insecurity somewhere, but the silence from some parts of the country, when Fulani herdsmen went overdrive in destroying communities, ransacking people's farmlands and causing havoc across many parts of the country, was terrible. Nigeria is too divisive to get a president or politicians who have the country's heart.

bro, we have to defend the naira because we simply do not have the capacity to do the alternative, at least not in the immediate, which is to be a net exporter of finished goods and not just raw materials. Becoming an industrialized nation clearly cannot happen overnight. We are not even on the path to it. So, no point deceiving ourselves with textbook policies that simply don't apply in our case at this time. All they needed to do was hold the fort till at least this Dangote refinery came on stream. That was all they needed to do. 40% of our Forex goes to petrol imports...Dangote comes online, that 40% Forex is saved, increase in supply of USD available to go round. If they had done that fuel wouldn't be more than 500 now and it would have been kept consistent since may 2023, all these supply challenges wouldn't have happened...the subsidy removal would have been absolute, monies actually saved, not this one that they have still being actively doing 'shortfall' cos the naira became that worthless.

Our circumstances were/are not textbook circumstances that needed textbook prescriptions. They should have employed commonsense.

Treadway:
bro, we have to defend the naira because we simply do not have the capacity to do the alternative, at least not in the immediate, which is to be a net exporter of finished goods and not just raw materials. Becoming an industrialized nation clearly cannot happen overnight. We are not even on the path to it. So, no point deceiving ourselves with textbook policies that simply don't apply in our case at this time.

I do agree. I think the government have introduced some policies aimed at attracting foreign investors, but these policies need to be consistent over time to reassure investors of the protection of their investments. On the other hand, there are still many outdated laws which hinder investments.

All they needed to do was hold the fort till at least this Dangote refinery came on stream. That was all they needed to do. 40% of our Forex goes to petrol imports...Dangote comes online, that 40% Forex is saved, increase in supply of USD available to go round.

The issue with Dangote's refinery is that he wants to be the ONLY supplier of petroleum products to Nigeria. That is wrong. Also, even if we have to only depend on local refiners, we should wait for others to come on board (BUA and other modular refiners). In the meantime, Dangote should refine and sell at whatever price he desires, but he cannot be the sole supplier of petroleum products to Nigeria.

If they had done that fuel wouldn't be more than 500 now and it would have been kept consistent since may 2023, all these supply challenges wouldn't have happened...the subsidy removal would have been absolute, monies actually saved, not this one that they have still being actively doing 'shortfall' cos the naira became that worthless.

Maybe if Tinubu, Buhari, Sanusi, Amaechi, the majority of Nigerians and Co had realised that subsidy existed rather than fight Jonathan and NOI, we would not be in the present situation.

Subsidy had to go. We cannot continue subsidising petrol for a humongous population that has porous borders. However, Dangote should not be the sole supplier. If he cannot compete in a market-based pricing system, he should sell to buyers elsewhere. It is a free world.

I recall my argument when I was much younger in 2012. They were (paraphrased): the government has no business running refineries. They should be handed over to private businesses. The government should subsidise primary and secondary school education and healthcare. However, everything else should be privatised.

I am pretty proud of myself for the consistency and the fact that my position has been the best in more than a decade.

Gerrard59:

I do agree. I think the government have introduced some policies aimed at attracting foreign investors, but these policies need to be consistent over time to reassure investors of the protection of their investments. On the other hand, there are still many outdated laws which hinder investments.


The issue with Dangote's refinery is that he wants to be the ONLY supplier of petroleum products to Nigeria. That is wrong. Also, even if we have to only depend on local refiners, we should wait for others to come on board (BUA and other modular refiners). In the meantime, Dangote should refine and sell at whatever price he desires, but he cannot be the sole supplier of petroleum products to Nigeria.


Maybe if Tinubu, Buhari, Sanusi, Amaechi, the majority of Nigerians and Co had realised that subsidy existed rather than fight Jonathan and NOI, we would not be in the present situation.

Subsidy had to go. We cannot continue subsidising petrol for a humongous population that has porous borders. However, Dangote should not be the sole supplier. If he cannot compete in a market-based pricing system, he should sell to buyers elsewhere. It is a free world.

I recall my argument when I was much younger in 2012. They were (paraphrased): the government has no business running refineries. They should be handed over to private businesses. The government should subsidise primary and secondary school education and healthcare. However, everything else should be privatised.

I am pretty proud of myself for the consistency and the fact that my position has been the best in more than a decade.

well, they have furckkkkkeed everything and everyone (except themselves) over...

Let's sit back, relax and watch/observe and determine the elastic limit of sufferhead Nigerians. Na suffer dem come this life to suffer. Kilo kan mi🤷

Gerrard59:

He does support Buhari, and did so in 2015 and 2019. He is one of those Nigerians with plenty of degrees who term themselves as intellectwats meanwhile they campaigned and voted for a man whose business defied the basic laws of economics and biology. I find it hard to consider people who campaigned and voted for Buhari in 2015 to be serious and intelligent.

Sorry Mr Treadway because I know I would be accused of being rude and loud-mouthed, but that is my candid opinion.

Thank you.

P.S. That said, subsidy has to go. The comparison with India, Russia or the US is lopsided. Those are largely homogenous countries, with long histories, relatively strong institutions etc. Nigeria is too divided to sustain subsidies. We are too populated vis-a-vis to our oil production to claim we are a rich country. Yes, there is corruption, but that is largely because there have been government's intereferences over the years. The economy should be freer than it is as it is practised in the US - let there be little government interference in people's daily activities or the economy. Mr IbeOkehie has written countless times on this issue.

1. What is the relationship between subsidy and homogeneity? Is subsidy in any way linked to history or culture? Subsidy is an economic term that's linked to economic stability and societal equality. No subsidy and class inequality gaps gets wider! That's why you have subsidies in critical sectors of an industrialised economy. Most of you run to industrialised countries without realising that they all became what they are through subsidies. The West built their age of civilisation on the back of cheap labour provided by slaves harvested from Africa. They transpired to the industrial age through the exploitation of cheap raw materials using colonialism. That's how they built the societies they have today. Don't get me wrong. They were highly ingenious and creative. But ingenuity alone does not provide the abundance of materials that's required for the level of industrialisation of the West.
2. You think Nigeria's economy is not free? I beg to disagree! The Nigerian economy is free. Most Nigerians get by with little or no government interference. As a matter of fact, government interference complicates things just as we presently have with the whole issue of subsidy. The basic fault with fuel subsidy is corruption. We can't even say how much we consume with confidence. We talk of smuggling, oil theft, bunkering and we ignore all that to complain of subsidy? OK. The subsidy removed since last year, over a year now, where is it? The claim was that we spend N400bn every month on subsidy. It's over a year now that it had been removed. That's N4.8trn. Can you point to any cogent thing that has been done by this govt that you think can amount to just N2trn? So where's the money?

I know what's wrong with the FG , if it dares to reverse any inimical policy now. The level of criticism they'll collect will cause an unrest.
There are many people waiting to say " sebi I told you"
They know they're heading nowhere they're just too arrogant and ashamed to turn back

Kukutenla:

1.) What is the relationship between subsidy and homogeneity?

2) Is subsidy in any way linked to history or culture?

The relationship and links between the subsidy, culture and homogeneity is easy to ascertain. It's been explained exhaustively.

Good Luck to Nigeria