₦airaland Forum

The country is poor when it comes to providing basic amenities for the masses but if na for the politicians to collect humongous salaries and allowances now, money plenty for those. Keep fooling yourself.

A simple look at your moniker and past comments on this forum shows you've many loose knots up there. You're not worth my time.

But you can continue ranting in my mention as usual.

Nostradamus1:
You didn't have to. What palliative were you expecting to be ready within a month of an incoming government with barely any appointments yet.





For those who insist it is Tinubu, this are screenshots across various divide on this page agreeing that it was a Buhari clusterfuck.


https://punchng.com/nigerias-borrowing-trouble-imminent-says-budget-office/?amp

Tinubu made Buhari become Nigeria's president. Now, Tinubu himself has got to the helm, but it seems he's following the template of failure that Buhari used.

In this saga, both Buhari and Tinubu are culpable, and I sincerely hope BAT doesn't beat the unenviable record of his predecessor as Nigeria's worst president in history.

Segedinho:
I have not even factored in d epileptic power supply we are experiencing....

It is going to be a long ride

I don't even consider that one at all. There has been a power outage in my area for over three weeks now.

Outages can last for as long as a month. While still in Nigeria, it's a generator and solar inverter saving the day.

Segedinho:
Communication is key. .

The fact that he said he didn't stop subsidy abruptly until June 31st but reality showed otherwise was the 1st nd very costly mistake.

I don't think there would be any effective palliatives, it is more like threating an illness instead of preventing it which is costlier.

What kinda palliatives would actually work for d poor when foodstuffs begins to skyrocket?who will identify d poor and what measures do you think would actually benefit them cos food is what keeps the poor happy...


To me,I don't see any way forward.


The amount of graduates on uber/bolt who depends on d fuel for survival is way too much.......
.

For those of us without an alternative power source, it's time we considered the solar route and how to use fuel efficiently to run our cars and generators.

Looks like we're in for Buhari 2.0.

Itsrm:
They quoted what they wanted to quote and left out the remaining.

He said Crude oil price is the same globally same as the cost of refining crude.

However, we will save some money from the cost of freight since we no longer have to ship refined fuel into the country. We will also save on cheaper labour cost. He's expecting a difference of up to 30 naira per litre between importing and refining locally.

You're right. I just resumed the interview now. This is poor journalism from Punch. They're politicizing this germane issue.

Segedinho:
He gas goofed do badly that he seems confused.


Going back to subsidy would make him looks silly after too much talk......

No palliative measure to cushion the effect...

No plan whatsoever to communicate on d good side of the decision taken..

And no trust from the masses cos packages as bonuses are still being shared ...

He is simply just confused

It's a daunting task. APC's Buhari was the worst president in Nigeria's history and took the country many years backward.

Looking at his disastrous performance in the just concluded tenure, it was expected that any president that would succeed him would be faced with such herculean tasks.

There should be no going back on petrol subsidy removal. Tinubu will need to plead and communicate well with Nigerians, implement some palliative measures, ensure they reach the poor masses that really need them (not party loyalists), and work assiduously to fix some refineries as soon as possible.

If Tinubu toes the same path as Buhari marred with poor communication, ineffectual leadership, and failed promises, then the country may descend into anarchy. Every hand must be on deck to prevent this.

I sincerely hope FG manages this situation well. The last thing we need now is another round of protests, which could be worse than #EndSARS. The optics are not looking good.

Itsrm:
How about you watch the interview yourself. That's not exactly what he said

What did he say then? I didn't finish watching the interview yesterday. Did Punch quote him out of context?

Another failed promise loading. What was Buhari doing for good 8 years? The mannequin couldn't even fix just a single refinery.

I'm sure some mumu here will be happy reading this. One of them was celebrating the extremely high cost of fuel some days ago when millions of Nigerians are suffering because of the high inflation the subsidy removal is causing.

The next thing would be to remove the subsidy on electricity so that Nigeria can be like the UK overnight. Remove all the subsidies and increase the taxes after all the government is already doing too much for the citizens.

How does this statement from the NNPC boss even make any sense?

“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price."

He said fuel prices will remain the same even when some local refineries become operational. So, there will be no effect whatsoever of refining crude oil locally?

It's clear that these people don't mean well for the masses.

raumdeuter:
Dev Shah won the spelling bee for this year

Winning word is psammophile

A developer?

Here are some of the greatest books I've read over the years:
1. Book of Universal History -- OtemAtum
2. Critique of Pure Reason -- Immanuel Kant
3. Free Thought and Official Propaganda -- Bertrand Russel
4. A Mathematician's Apology -- G.H. Hardy
5. Battling the Gods -- Tim Whitmarsh
6. The History of Western Philosophy -- Bertrand Russel
7. Life of Sir William Rowan Hamilton -- R. P. Graves
8. The Demon-Haunted World: Science as a Candle in the Dark -- Carl Sagan
9. The Emerald Tablets of Thoth the Atlantean
10. The Hermetica: The Lost Wisdom of the Pharaohs -- Tim Freke & Peter Gandy
11. The Kyballion: A Study of the Hermetic Philosophy of Ancient Egypt and Greece
12. What Is Ancient Philosophy? -- Pierre Hadot
13. The Analysis of Matter -- Bertrand Russel
14. African Origins of the Major World Religions -- Amon Saba Saakana (ed.)
15. Culture's Consequences -- Geert Hofstede

Except for number one, the rest are available online on http://www.sacred-texts.com/, https://archive.org/

liveLongNprospa:
Good good

So you are saying this will not in anyway affect the usual forex rates?
Will the market look at this and not react to it?

I'm not grounded in that area. Maybe Ibime can help

"No, CBN Did Not Devalue the Naira

The report that CBN has devalued the Naira is misleading or perhaps an honest reporting mistake by journalists who lack understanding of how CBN’s I&E Window operates. What they call devaluation is the exchange rates established in accordance with the prevailing market conditions.

The I&E FX Window, which stands for “Investors’ and Exporters’ Forex Window,” was adopted by the Central Bank of Nigeria in 2017. It’s a dedicated trading segment for investors, exporters, and end-users. It enables foreign exchange transactions to occur at exchange rates determined by prevailing market forces, which means these rates fluctuate persistently.

Operating as an electronic trading system, the I&E Window allows buyers and sellers to submit their bids and offers for different currencies. The rates at which trades are executed within the window are determined by the forces of supply and demand, reflecting the prevailing market conditions.

This trading window is open to investors, exporters, authorized dealers (commercial banks), portfolio investors, and other individuals or organizations engaged in foreign exchange transactions. It operates within a framework defined by the CBN, which sets guidelines and regulations to ensure fair and transparent trading practices.

Last year, the apex bank announced that they had attracted over US$50 billion in investments to Nigeria within three years as a result of this practice. Meffy even justified the place of the Window, explaining that CBN’s decisions were consistently guided by the prevailing economic fundamentals—and that’s what the Window does.

Whether the Window has truly improved our liquidity as claimed is left for experts to figure out, but the rates generated through the platform aren’t static. The N630/$ that our journalists reported as devaluation is actually the highest spot rate in a day, and lowest rate of the day in question was N410/$. It’s determined by the forces of demand and supply, and would keep on changing.

You can monitor the I&E rate via this website, fmdqgroup.com/exchange/, revealed in the CBN circular announcing the Window, and track the fluctuations of the exchange rate across hours every day. The closing rate for yesterday was ₦464.67." — Gimba Kakanda via FB

"No, CBN Did Not Devalue the Naira

The report that CBN has devalued the Naira is misleading or perhaps an honest reporting mistake by journalists who lack understanding of how CBN’s I&E Window operates. What they call devaluation is the exchange rates established in accordance with the prevailing market conditions.

The I&E FX Window, which stands for “Investors’ and Exporters’ Forex Window,” was adopted by the Central Bank of Nigeria in 2017. It’s a dedicated trading segment for investors, exporters, and end-users. It enables foreign exchange transactions to occur at exchange rates determined by prevailing market forces, which means these rates fluctuate persistently.

Operating as an electronic trading system, the I&E Window allows buyers and sellers to submit their bids and offers for different currencies. The rates at which trades are executed within the window are determined by the forces of supply and demand, reflecting the prevailing market conditions.

This trading window is open to investors, exporters, authorized dealers (commercial banks), portfolio investors, and other individuals or organizations engaged in foreign exchange transactions. It operates within a framework defined by the CBN, which sets guidelines and regulations to ensure fair and transparent trading practices.

Last year, the apex bank announced that they had attracted over US$50 billion in investments to Nigeria within three years as a result of this practice. Meffy even justified the place of the Window, explaining that CBN’s decisions were consistently guided by the prevailing economic fundamentals—and that’s what the Window does.

Whether the Window has truly improved our liquidity as claimed is left for experts to figure out, but the rates generated through the platform aren’t static. The N630/$ that our journalists reported as devaluation is actually the highest spot rate in a day, and lowest rate of the day in question was N410/$. It’s determined by the forces of demand and supply, and would keep on changing.

You can monitor the I&E rate via this website, fmdqgroup.com/exchange/, revealed in the CBN circular announcing the Window, and track the fluctuations of the exchange rate across hours every day. The closing rate for yesterday was ₦464.67." — Gimba Kakanda

E don dey start gradually. Na till next week things go red when the prices of food items skyrocket

Below are the major issues with Tinubu's approach to the fuel subsidy issue. But it seems he's more interested in creating an office for the First Daughter of the Federal Republic of Nigeria than addressing these genuine concerns.

By the time the protests start, he go address the issues by fire by force because the coming days will be tough. Some filling stations in Ogun and Lagos are selling fuel as high as 680 naira per liter.

Iyaloja General of Nigeria. First daughter of FRN. Lols. Iyaloja General of Nigeria go soon organize palliatives for una.

Our First Daughter

Roma vs Sevilla tonight. The Special One all the way!

Electorate:
Eye dey pain you ni? Didn't you see Dangote Group and Aliko Dangote as two separate entities on the list of shareholders?

Na you own the Dangote Group you see there? Lols. You listed Dangote Group, owned by Aliko Dangote, as the biggest shareholder in Dangote Refinery and still said the refinery is owned by foreigners.

Are you sure all is well with you

I've better things to do with my time than engaging in mumu argument here.

While you celebrate fuel cost that has risen in multiple folds, you can as well clamor for the government to remove the subsidy on education, health, and electricity as well so Nigeria can be like the UK, even as our leaders keep on looting the country's financial resources heavily.

Better to ignore some m.orons here.

Electorate:
Dangote Refinery is owned by foreigners, Aliko Dangote owns less than 1% of Dangote Refinery. FACT.

Shey dem don sell Dangote Group Ltd. to you? Lols, the conglomerate is owned by Aliko Dangote, its founder and largest shareholder.

Well deserved for both.

TenQ:
Will you agree that
1. Just as NDE experiences, Spiritual experiences are SUBJECTIVE experiences
2. Just as NDE experiences are real to the person experiencing it, Spiritual experiences are REAL to those who experience them
3. Just as there is no physical proof of NDE experiences, there are no physical proofs of Spiritual

Yes, NDEs are subjective experiences, at least for now. But they may not be for long when scientists and engineers design devices that can record and store memories (including dreams) in the brain digitally and play them.

Already, Elon Musk and some MIT scientists and engineers have recorded key breakthroughs in this area.

Yes, spiritual experiences are subjective as what looks spiritual to you may not seem so to another person. A person due to their limitations in intelligence and knowledge can call mysterious events they don't understand spiritual, but those versed in that subject would know they're purely physical phenomena whose occurrence is guided by certain laws of nature, all within the domain of sciences.

Apart from superstitions, what you call spiritual is simply unexplained science. Just give it time; scientists will unravel it.

In the olden days, generally diseases such as cold, malaria, headache, etc. were regarded as spiritual and the handiwork of demons, until some centuries ago that scientists like Anton van Leeuwenhoek, Pasteur made groundbreaking discoveries in microbial science, paving the way for key advancements in modern medical sciences.

Today, only the unintelligent ones see diseases as spiritual and demonic manifestations; the majority of humans now regard diseases scientifically.

Also, in the past, natural phenomena such as lightning, thunder, rainfall, flooding, earthquake, and eclipse were generally regarded as spiritual and the handiwork of one deity or the other.

But after humans understood these phenomena better using critical thinking, philosophy, and the scientific method, they're now generally seen as natural phenomena which can be predicted and tamed scientifically.

Nothing spiritual or supernatural in all these.

There are several other examples as well.

Things religious people like you call spiritual now are not really spiritual or supernatural in any way. It's because your knowledge is limited on the subject since you can't reason beyond the ridiculous stories in the Bible, which are mere tales for children.

Scientists will unravel all these things in the future.

TenQ:
Now to those on the outside especially skeptics:
Would their best approach be to
1. Take those experiences with a grain of salt
OR
2. Begin to fight and dispute that such experiences can only be real if they can be proved physically.

The second approach seem to the the disposition of many Atheists on Nairaland.


You will note here:
We were expected to discuss the Philosophy of Spatial Dimensions and extending it to what our expectations would be if we have dimensions higher than 3D UNFORTUNATELY, most of your Atheist friends have concentrated just on one aspect of the talk : to establish that the spirit realm is nonsensical.

For me, it is understandable if an atheist say that higher dimensions may exist that defy our 3D space understanding, however they don't beleive it has to do with invisible beings called spirits. Alas, this is Nairaland!

Judging by the dubious, fraudulent nature of Nigerian pastors and the ridiculous stories in the Bible, it's understandable to call the spirit realm nonsensical.

When your Bible has too many lies and half-truths, don't blame intelligent people for calling its content nonsensical.

The blame lies in your god and the fictitious Jesus Christ invented by Rome.

An intelligent person shouldn't believe anything the Bible says being a book of lies.

If not that I've seen what you, religious people, call the spirit realm a number of times, and that it has a scientific basis (theoretical at this stage), I won't be saying higher dimensions, which are non-physical in nature, exist.

Based on my experience and research over the years, I know they exist. But my experience is subjective, and an intelligent person doesn't base their beliefs and convictions on the subjective experiences of other people, like you, religious people, do.

So, the skeptical approach is the best. However, it's more reasonable to keep an open mind, use the Socratic method, and adopt agnosticism than atheism.

An intelligent person would say God or higher dimensions don't exist. But a highly intelligent and wiser person would say there's no evidence for the existence of God or higher dimensions.

The latter approach is the most reasonable because it allows for openmindedness.

Cool thread. Anyone with a working brain and humane nature would resist that evil religion.

Where's the World Cup winner heading?

Fuel stations have started closing, and queues are starting to develop. Na wa o. First day in office for a new president. Lols

Nostradamus1:
Fine we discussed this here pages back. What can Tinubu do? The government has collected money from World Bank(not sure if it is them). The budget didn't make any allowance for it. Will you approve Tinubu borrowing before the end of June to fund Subsidy for the rest of 2023 fiscal year

I'm not in the mood for this discussion, oga. All I'm concerned about now is to verify the news and start preparing for the tough times ahead.

Segedinho:
Your are mixing everything and missing the point....removal of subsidy right now is multiplying the masses hardship by 3...

I don't know why some people don't have a simple understanding of issues. Even if fuel goes for 450 - 500 naira per litre at this moment, there will be social unrest, chaos, and riots.

Nostradamus1:
I bolded the part I was responding to. You claimed " if Tinubu actually removed Fuel Subsidy without" . He didn't remove it. Buhari did.

However he and any other top presidential candidate was/claimed to remove it

I'm not in the mood for all this needless back-and-forth, oga. Removing the subsidy now will be catastrophic.

Nostradamus1:
Fuel Subsidy removal was passed into Law by Buhari not Tinubu. It is a Law already in Nigeria that payments for Subsidy ends June30 , 2023.


Importantly, all Top presidential candidates were in support of it. Whether Obi or Atiku, whatever happens this first 6months under Tinubu regarding petrol will happen under any candidate

Read the post you quoted again, and what NUPENG said. The problem isn't subsidy removal but the timing and manner of removal.