₦airaland Forum

OptimusJnr:
As much as many for see this to be the case in the nearer future I believe the CBN Liberalization policy is what would determine if we would end up buying petrol at N200/ltr, if there is enough FOREX for importer to bring in the product then be rest assured the price of petrol would drop.

Voodoo economics. CBN policy basic means that CBN and black market rates at parity, so importers are going to peg their prices to the cost of $ to Naira.
Most importanly, oil prices and futures are set at New York Meecantile Exchange, so people what Americans plus cost of refining, freight, govt taxes and profit.

So people who rode to power on the basis geographical representation are now saying they it doesn't matter?? Why did you care when GMB wanted to make Tinubu his running mate, but now don't if he selects all his appointments from his village?

Burger01:
Of course... This is expected. Next would be the crash in pump price.

For where. Wait till oil price climbs to $70 per barrel and Naira crashes to N400 to $1. Nigerians will later pay N200/ liter

boss1310:
I can never envy you guys after all your dad worked for it,mine didn't have much but he did good by us.my kids will enjoy mine

How did he work for it?? OBJ sold undervalued Naija assets ( which belong to you and I) to him at a huge discount
Their grand day, Mike Otedola is the forme governor of Lagos and he's not stupendously rich. Blame your dad for other things, but this isn't one of those unless you want to blame him for not stealing public funds?

TheGoodJoe:

Just as we are different, our perspective of life and matters are different.

Before this government came in, I wrote an article asking what was the biggest Challenge we faced as a country.

Even though the response was few, most said corruption.

As much as much as people feel this government is not doing much, they are actually achieving a lot. We are now seeing a padded budget that would have gone through the senate unopposed going through ridicule and screening. We saw people leave offices and the budget reviewed.

Just as we are seeing loans that would cause workers their jobs and people their hard earned money, we are seeing those people pursued.

We are seeing a battle against corruption. Even though some call it one sided, I feel any battle against corruption is a battle in the right direction.

As long as the corruption war continues, I will continue believing this government is winning. If corruption reduce, a lot of things we are complaining about will get better.

Things are this bad because of the corruption we came out from and if (which I believe will) it continues and intensifies, I see this government winning and going down as one of the best.

I do not see this government failing. I believe criticism keeps the government on their toes, so it is welcomed.

I just want judgment after the government finishes its term.

If we judged OBJ from his first year, he would have been a disaster. With time, he turned out an okay leader.

We might see things differently, but facts are sacrosanct! GMB padded and increased the budget by 50% form N4tn to N6tn. He still kept capital budget at 30% so 70% of the budget if for recurrent expenditure..chop money.
Now his aides are saying that they can only implement 15% of the capital budget.
Cost to run presidency in 2015 =N6.6tn ( GEJ and GMB)
Cost to run prsidency in 2016 =N39bn a whopping 600% increase when GMB is advocating austerity measures for Nigerians.
GMB still maintains the same presidential feet he inherited from GEJ
GMB is being profligate and hypocritical.

aresssa:
Who are they and why are they rogues and if they were rogues, why didn't GEJ arrest, prosecute and put them in jail before joining the APC?


Some of you just sound and formulate logic like 2 year old children..

I can stand any opposing logical view, but I cant stand being willfully ignorant. Amaechi, Audu Ogbe, Chris Ngige... etal. What a display of selective amnesia! You are accusing someone stealing and keeping company of thieves and then u end selecting all my " thieving" buddies as your friends

aresssa:
My question is, is it possible to fix 55 years of neglect and decay including 16 years of PDP's looting, stealing, incompetence and lack of preparedness in less than a year with a less than 6 months passed federal budget?


Just answer Yes or No..

How come he has those same PDP rogues in his cabinet??

Which kind healing?? From N10k bag of Rice to N20k bag of rice? From N87 litre of petrol to N145 liter of petrol? From workers and pensioners being owed 12 months salary??

And if PDP really destroyed the country, how come GMB hired most PDP members as his ministers ,PAs, and SAs political jobbers?
If PDP really destroyed Naija, how come he's using EFCC, an institution founded by PDP, to fight corruption?
If PDP really desteoyed Naija, how come GMB is using Naija GDP which was grown from $299bn in 1999 to $510bn in 2015, to borrow?
We can objectively criticise, but leadership isn't about telling me what's wrong and why it cannot be fixed, but it's about showing me how it can be done..

koboko69:
. Clown. Let someone come and win with 10million votes now na with PVC. Bag of rice? We all know why. If u like pretend not to know the truth, it changes nothing bro.

You are the real clown.. How about those underaged votes and goats counting as millions of voters?? What a display of willfuk ignorance, so all those APC and PDP-turned APC politrickians all rigged ekections b4 PVC?? So the only credible election was the one won by GMB which was organised by GEJ, a PDP politrickian?

koboko69:
A wailing dream!



We heard all this kind of Noise over and over before the elections. Truth be told, ur vote is as inconsequential as it eas for Jonathan and can never change the fact that should Buhari still be strong enough to contest next elections, he will do and win fantastically.

He only won with 3m votes while OBJ, Yar'dua and GEJ beat him with over 10m votes. His voters and supporters aren't paying N87 but N145 per liter of PMS. His voters and non voters are paying for a bag of rice which went up from
N9k to N16k.. Trust me a lot of hungry, dissaponted and disillusioned voters who didn't vote last time, are going to come out and vote.

Her post is full of bad grammar

ODVanguard:
Na those Ipob, scAvengers and other fellow gang of Niger Delta terrorists of course. Even the U.S don already label them as such -- we all know they promised to blow-up Third Mainland bridge amongst other targets. Watch them invade this thread with their empty denials. Na Ogun go punish all of Una wey dey plan evil against Yorubaland. Ko Ni better fun all of you. Nonsense!

US knows the difference between terrorist organization and Scavengers.. Stop displaying your congenital ignorance for sale

Adminisher:
You have to Google what happened in 1979.
I will tell you first hand. Nigeria's economy was MENDING in 1979. The oil price was low but we were repaying loans and defending the local manufacturers who were steadily expanding.
If economy to you is buying rubbish from Dubai and selling in Jankara market then you are lost in the Jonathan era which will never ever happen in Nigeria again but if economy to you is to be like India and Germany and try to produce everything you can within your country then you cannot conclude that Buhari s first regime was wrong

What's an arrogant display of idiocy.. An economy in recession can't be like Germany and India. A country that generates 0MW of electricity cant be like Germany and India.

It gets worse under this GMB administration. 70% recurrent expenditure-i.e chop money.
N39bn for presidency alone in 2016
N6.6bn for presidency alone in 2015
So GMB increased the budget for presidency by 600% in 2016.

janellemonae:
The biafrans on this thread seem to be more upset dt the Shiites are not rubbishing d Nigerian flag and chanting death to Buhari dn they are about the protest itself.

The whole 1st & 2nd page seems to be filled wt comments of dissapointed cheerleaders, advising d Shiites on what to do better.

Smh.

False equivalence! IPOB blames Naija and its leaders not USA and Isreal.

einst3in:
Very very spot on Op. Greed and quest for quick wealth is what has bedeviled the ibo nation. The hatred is so blinding that they forget that foreign affairs, Commerce science and technology, petroleum, the CBN, Amcon, debt management, budget office and other strategic position that forbears the Nigerian economy are being managed by the Ibos. Ipob youths, think for ur selves. In fact all Nigerians should have an open mind.

What a revision of history.. GEJ appointed Emiefele to fill the slot of SS not SE. Kachukwu is filling Delta spot in SS not in SE..
Why do we have have to regurgitate these lies? A president who declared that he would favour 97% of voters over 5% is not worthy to be a leader!

Raised in Naija but trained in America..married to Oyibo. Most of these kids are not smarter than most Naija folks, their parents made the right choice in setting a career path for them.. And most importantly, rich and influential folks dont believe in Naija- their kids study abroad.

Venezuela compared to USA/Norway is a monster, but Chavez was unequivocally a disciple of mixed economy with huge social programs to benefit country's poor and needy unlike in Naija where poor folks are charged higher for everything.. Kerosene, cooking oil for the poor, is more expensive than diesel and PMS. If you compare Venezuela with Nigeria, we are the real charlatan! In 2014, Venezuela budgeted $87.3bn for a population of 30m while Naija budgeted $30bn for a population of 170m.
Sector allocation
Naija budgeted 10.6% for education which was about $3bn
Naija budgeted 5.7% for health which was about $1.5bn
Venezuela budgeted about 40% for social investments with education getting about $10bn-11.7% while health got about $7bn at 8%. Additionally, PDVSA is obligated to contribute towards education and health through a govt program " Fonden" to the tune of $8-10bn.
So Venezuela's budget is 3x more than Naija
It spends 3x more on education than Naija. It spends 5x more on health.
As per oil price, Nigeria has higher production cost than Venezuela. We also have lower output than Venezuela.
PDVSA subsidiary,
Citgo , has a huge operation in the USA which can fund Naija budget on annual basis. Their revenue in US alone is about $42bn. It owns 2 refineries in the US with a combined production capacity of 760k bpd.
Cab our NNPC refine 100k bpd?
PDVSA has refineries in Germany, Sweden, Bahamas, US Virgin Islands and Jamaica.
This comparison is between Naija oil wealth vs Venezuela's !

What's moderator's email or contact?

grandstar:
If government workers were the highest paid in South America, it exposes the reckless spending I spoke of. He actually doubled the size of an already bloated state staff.

The man ruined PDVSA. He sacked most of the company's competent staff who got better offers overseas to their well grounded knowledge in oil especially heavy oil. He then replaced them with loyalist. Production slumped heavily.

Also you claim that the money made was spent within the country. That is a fallacy.

He was dashing out aid in the form of subsidised crude oil to many South American countries.

Also, because of mismanagement of the economy, manufacturing and food production slumped forcing Venezuela to depend on imports especially from Colombia. A lot of their money was going to Colombia.

Also there was corruption, a lot of it even if it might not have been as brazen as that here. Also, there was massive capital flight from the elite who lost faith in Chavez economic policies. He actually nationalised many big private companies.

As for power. the country is suffering from severe blackouts. Investment my foot.

Most of the glory you spoke of was pre-Chavez.

You are praising well known charlatan

Dunno why I got banned for trying to post my opinion..

Destined2win:
Oh What a bad news. RIP young man.


But Obama, if his initiatives are about gay rights, let him shove it up his bum bum.

What a display of congenital idiocy!

No wonder the most Googled word in Naija is wedding. Some govts are paying bride prices and sponsoring couples to get married, yet there are about 11million kids not enrolled in school. You can pay for marriage but can't pay for child's upbringing and education.. Naija manufacturing idiocy since 0000BC

irunoobo:
Rochas is the only presidential material in the east. He keeps making friends and building brigdes across the ethnic divide unlike the hatred and victim mentality of most IPOB yoots. God bless Rochas, God bless buhari

He owes workers for 13months and he's the best presidential material?? May you be owed 13 months by your boss!'

arresa:
[s][/s]





Law and order and conducive environment brings in investments and investors while corruption and lawlessness drives them away..



Ipob logic is always upside down and corrupt logic..

Fix your English first before pointing fingers! What a product of Naija jaundiced education.

grandstar:
If government workers were the highest paid in South America, it exposes the reckless spending I spoke of. He actually doubled the size of an already bloated state staff.

The man ruined PDVSA. He sacked most of the company's competent staff who got better offers overseas to their well grounded knowledge in oil especially heavy oil. He then replaced them with loyalist. Production slumped heavily.

Also you claim that the money made was spent within the country. That is a fallacy.

He was dashing out aid in the form of subsidised crude oil to many South American countries.

Also, because of mismanagement of the economy, manufacturing and food production slumped forcing Venezuela to depend on imports especially from Colombia. A lot of their money was going to Colombia.

Also there was corruption, a lot of it even if it might not have been as brazen as that here. Also, there was massive capital flight from the elite who lost faith in Chavez economic policies. He actually nationalised many big private companies.

As for power. the country is suffering from severe blackouts. Investment my foot.

Most of the glory you spoke of was pre-Chavez.

You are praising well known charlatan

Venezuela compared to USA/Norway is a monster, but Chavez was unequivocally a disciple of mixed economy with huge social programs to make his citizens happy.
But comparative to Nigeria, we are the real charlatan! In 2014, Venezuela budgeted $87.3bn for a population of 30m while Naija budgeted $30bn for a population of 170m.
Sector allocation
Naija budgeted 10.6% for education which was about $3bn
Naija budgeted 5.7% for health which was about $1.5bn
Venezuela budgeted about 40% for social investments with education getting about $10bn-11.7% while health got about $7bn at 8%. Additionally, PDVSA is obligated to contribute towards education and health through a govt program " Fonden" to the tune of $8-10bn.
So Venezuela's budget is 3x more than Naija
It spends 3x more on education than Naija. It spends 5x more on health.
As per oil price, Nigeria has production cost than Venezuela. We also have lower output than Venezuela.
https://storify.com/budgITng/nnpcs-report-march-2016
http://graphics.wsj.com/oil-barrel-breakdown/
PDVSA subsidiary,
Citgo , has a downstream operation in the U which can fund Naija budget on annual basis. Their revenue in US alone is about $42bn. It owns 2 refineries in the US with a combined production capacity of 760k bpd.
Can our NNPC refine 200k bpd locally? Nope!!
PDVSA has refineries in Germany, Sweden, Bahamas, US Virgin Islands and Jamaica.
This comparison is between Naija oil wealth vs Venezuela's !

grandstar:
Venezuela has run bad economic policies since 1999 when Chavez assumed power. Massive inflow of dollars helped disguise the rot in the economy. He was spending money frivolously like there was no tomorrow.

The best indication of that mismanagement was that his anointed successor was a bus conductor! With a collapse in oil price, fowl ya-nsh don open.

The economy has profoundly collapsed and the completely clueless Maduro is holding desperately to power. It will take at least 3 years to repair the damage done.

During Chavez, their workers were the highest paid in South America . They made a lot of money and spent it in their country and on their citizens unlike in Naija where we made a lot of money and Politrickians and their cronies stole and stashed in offshore accounts.
They invested in public infrastructure. It currently generates 5x more power than we do.
When oil prices come back, it's positioned to reap bountifully because its oil company, PDVSA ( similar to NNPC) is a vertically-integrated company. It explores, drills, refines and markets petroleum products. It owns one of the largest refineries in the US-Citigo. It owns refineries in Germany, Sweden, Jamaica, Bahamas and US Virgin Islands. Our NNPC is unable to reconcile its account with govt and JV partners.

stagger:
I have refused to be drawn into any arguments about Venezuela with the guy who is just talking and knows nothing about the reality of the situation there at the moment. Rather than admit he was wrong in his analysis, he is now saying Nigerians have never enjoyed social programs.

He probably did not participate in the Awo era free education. Maybe he also never got a scholarship with offer of automatic employment. Perhaps he also does not know students were once fed for free until Buhari's military junta stopped it and also stopped construction of new hostels. As a primary school student, we had sandwiches, milk, biscuits etc as part of a proper school feeding program, not the garbage I saw on TV the other day. This was in the late 70s.

Nuff said. Let him keep arguing without basis.

Nope I was not born in 1960s! Nice try, but we are talking about 2016. If you can't see anything wrong in Naija with over 40m poor folks patting itself on the back and saying we're better than Venezuela when in fact there are about 5m poor folks in Venezuela
If you can't see anything wrong that Naija with GPD per capita of $3000 is saying that it's better than Venezuela with $13k GDP per capita.
If you can't see anything wrong in Naija telling you that we're better than Venezuela while having only $30bn to take care of 180m while Venezuela has $142bn to take care of 30m people

So 10m Naija kids not enrolled in school have a kind of gig in Naija informal sector??
Mind you over 50% of Naija live below poverty level of $1/day. Now if you just take 20% of Nigerians living below, that means that over 34m Nigerians are poor while Venezuela is 30m, so 20% of their population in poverty is 6m.
The difference is that Venezuelans were used to having basic things in good times, but are going through rough times now, but Nigerians have always been poor and haven't had the privilege of enjoying favourable govt social programs.

kaboninc:
Please correct yourself!

The budget is hugely funded by DEBT. Kindly disregard the semantics used by the government.

How else can you explain the fact that a budget that has a capital component of 30% and a recurrent expenditure of 70% will be funded by a debt of over 40%?

A careful analysis of the budget will show a difference of increase in expenditure components and a slight departure of funding arrangements.

For example, a particular ministry voted more than 300 billion in 2016 but 18 billion in 2015. Yet considerable same projects or continuation of same projects.

Thanks! Good luck preaching common logic to Naija folks. Most us don't want to read beyond political sound bites churned out by paid party agents.
More so, the govt is saying that it can not implement 30% capital budget, so only 15% could get implemented.

kaboninc:
You really do not want to find out more about Venezuela!

Trust me!

because you have nothing to say about them. Working and middle class Nigerians have been led to believe that they're better than most people in emerging economies, but all economic indices say opposite. Millions of workers and pensioners owed salaries in Naija are about 10% of Venezuela's population if we put conservative estimate at 3m Naija workers.
Over 10m Naija kids aren't enrolled in school, that's 1/3 of Venezuela population.. Ten of millions of Naija are dead poor, but they are not protesting