seunmsg: The NNPC Retail Discount Is Not A Subsidy, No Public Money Is Involved
Thanks for letting us know that it is Tinubu's PRIVATE money that is involved. Do you know if that is from the leftover of $460,000 drug money seized from him in Chicago a while back?
E no easy to defend balablu bulaba clueless town hall rogues walahi.
Racoon: Festus Keyamo Defends Tinubu From Drug Trafficking, Says Tinubu Mistakenly Shared Flats With Drug Lords
The Minister of State for Labour and Employment, Mr Festus Keyamo, has distanced the All Progressive Congress presidential candidata, Bola Tinubu, from being a drug baron who was involved in the traffic of narcotics in the United States.
Keyamo, who also doubles as APC Presidential Campaign spokesperson, noted that the former governor of Lagos State only shared a block of flat with drug barons about 30 years ago in the US.
His reaction is coming following documents of a Chicago District Court indicting and convicting Tinubu of drug dealings and money laundering in 1993.
The document which emerged online two days ago, described APC standard-bearer as a drug baron, adding that Tinubu entered a plea bargain, leading to the forfeiture of his assets to US authorities in 1993
It was also pointed out that Tinubu forfeited the sum of $460, 000 dollars in his bank account at First Heritage Bank to the US government.
Speaking on Wednesday on Channels TV, Mr Keyamo dismissed such claims, insisting that Tinubu was linked to drug peddlers who were his neighbours.
He said: “What happened was that Tinubu went to open an account. The address which he used in opening the account was the address used by these people. I think some blocks of flats. Maybe, he was happy to be in that block of flats too.
“So, they now link it that the other people they were investigating for narcotics are in the same address used by Asiwaju to open that account.’’
lapintoz: Atiku will...... Atiku will...... Atiku will...... Atiku will make Nigeria bigger than China, USA, Japan, Germany combined. Nigeria will be the biggest richest country in the world. Each Nigerian will be a billionaire. Atiku will bring the straight of Hormuz to Adamawa........
Lamba!
Atiku will be worse than Abacha. I am sure his 30 children and wives cant wait to move into the Central Bank of Nigeria!
Does Tinubu have more wives and children than all presidents combined, since he has destroyed Nigeria with debts, in spite of hitting higher revenue target in August from greater tax burden on people and saving billions dollars from subsidy removal that has made petrol unaffordable and life unbearable?
Meanwhile, Atiku has not promised to do what he has not done before, as a member of the glorious Obasanjo administration that laid the foundation for 16 years of prosperity, peace and security.
Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun made this known at the end of the inaugural Federal Executive Council meeting in Abuja. Mr. Edun said that the benefit of the subsidy removal will be plough back into various sectors to improve business environment for local and foreign investment. He added that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.
Ofunaofu: Report: Current Govt Added More Debt in Two Years Than Nigeria Accumulated in 55 Years
• Decries Nigeria’s debt service-to-revenue ratio
•Urges FG to declare fiscal emergency
A new policy brief has warned that Nigeria’s worsening debt profile and weak revenue generation have pushed the country into a dangerous fiscal position, with the current administration accumulating more debt in two years than Nigeria recorded during its first 55 years after independence.
The report, released by the Alliance for Economic Research and Ethics LTD/GTE, a Nigerian policy think tank, argued that the country’s debt crisis has evolved into a governance and revenue emergency, as debt servicing obligations now exceed the federal government’s retained earnings. > > According to the think tank, Nigeria’s public debt rose sharply from N87.38 trillion in June 2023 to N159.28 trillion by the end of 2025, with President Bola Tinubu’s administration accounting for about N65.9 trillion of the increase within its first two years in office.
The organisation in the brief titled: “Nigeria Is Borrowing to Breathe—and the Clock Is Ticking”, noted that Nigeria accumulated only about N12.06 trillion in debt from independence in 1960 up to 2015, meaning the current administration added more than five times that amount in just 24 months.
The report stated that while previous governments also contributed significantly to the country’s rising debt burden, the speed of accumulation under the current administration had intensified concerns over fiscal sustainability.
“President Bola Tinubu’s administration has added a further N65.9 trillion in just two years. To put that in perspective: it took Nigeria’s first 55 years of independence to accumulate N12 trillion in debt. The current administration has added more than five times that amount in 24 months,” it argued.
It recalled that Nigeria briefly became almost debt-free externally after the administration of former President Olusegun Obasanjo secured an $18 billion Paris Club debt relief package in 2005 and paid $12 billion to extinguish about $30 billion in external obligations.
Raregem9000: After 3½ years of Nigerians paying the full price of subsidy removal, this sudden “relief” feels exactly like starving chickens for years… then throwing a few corns at them a few months before you need the eggs.
That is the Stalinist version of Stockholm syndrome described in the OP below.
How did we allow Tinubu to scam us with the worst form of voodoo economy
anonimi: March 8, 2013 Nigeria operating voodoo economy – Tinubu
FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.
For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.
“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’
Samuels90: A very confused set of criminals ruling the country. They got no idea on how to govern, just trial and error everyday!
Is this why we should all work to get our country back to genuine prosperity, productivity, employment, cheap petrol, less debt & tax burden that are all driven by well thought out deregulation and privatisation policies?
What sensible, patriotic Nigerian wants to continue Tinubu's balablu, bulaba APC extreme poverty and insecurity shege of akara palliative sharing of stomach infrastructure? Do you know any one like that?
anonimi: How Indorama sustains manufacturers, boosts Nigeria’s FX earnings
Indorama Eleme Petrochemicals Limited (IEPL) has emerged as a major value creator in the Nigerian economy. It is responsible for the survival, growth and sustenance of many manufacturing companies in Nigeria today. A large number of plastic and allied firms depend on the Eleme-based company for petrochemical resins (or polymer resins) which serve as their raw materials.
The petrochemical company is just one of the several subsidiaries of Indorama-Nigeria Group, which also comprises Indorama Eleme Fertilizer & Chemicals Limited (IEFCL), Indorama PET Nigeria Limited, and Indorama Port Operations.
Since Indorama Corporation of Indonesia became core investor in the old Eleme Petrochemicals Company Limited (EPCL) in 2006 through privatisation programme of the Federal Government, the group has become a game changer in the Nigerian economy.
The petrochemical company has solved the major challenge facing a number of manufacturers— poor access to raw materials. Rather than scramble for foreign exchange to import inputs, the company ensures that manufacturers have access to their critical raw materials, enabling them to save costs and improve margins.
The major resins used by plastic and allied companies are polyethylene and polypropylene. Indorama produces about 45 grades of these products for various industries. About 600 of such companies in Nigeria depend on IEPL for their survival. They are estimated to have over 90,000 workers.
Nemere2020: The Minister of Finance and Coordinating Minister of the Economy Chief Olawale Edun has said the last time Nigeria’s economy looked stable was about a decade ago.
He made this statement during his maiden press conference as Minister of Finance where he outlined President Bola Tinubu’s vision, agenda and strategy for the economy.
He said, “I think as we all know, we are not where we should be. The economy is barely growing above the rate of population growth.
“But it was not always so, and I think in trying to look at the way forward, if we now have a situation of slow growth, double-digit inflation, weak/depreciating exchange rate, as well as security concerns that are resulting in an economy that is not growing and not taking Nigerians out of poverty.
“If we think back to the last time when the economy was stable- when it was growing, when inflation was low, and the interest rate was affordable, that period was about a decade ago. Growth was about 6% in 2013 and 2014.”
plessis: Take away the thugs from extorting the bus drivers and transport prices will crash.
Is Tinubu a thug, since he is the one who has failed to crash petrol price below N185 promised in January 2023, despite paying subsidy illegally to importers of fuel from their Malta blending plants.
saintopus: Which day wey president Bola Ahmed Tinubu open hin mouth korokoro say him one reduce transport for una? Please show me video or audio.
I am not sure if Stockholm syndrome sufferers will be convinced even if they hear such from the master strategist of All Promises Cancelled, APC propagandist liars.
Independence Day: Tinubu unveils plan to cut food, transport costs 01 October 2026
President Bola Ahmed Tinubu has unveiled measures aimed at reducing the cost of food and transportation, saying the government will focus on lowering the cost of producing and moving goods across the country.
Tinubu disclosed this in his Independence Day address to Nigerians, where he said the next phase of his administration’s economic agenda would centre on delivering shared prosperity and easing the pressure on households.
“Our priority is to bring down the cost of living. We will achieve this by lowering the cost of producing and moving the things Nigerians consume,” the President said.
Ohyoudidnt: Obasanjo's inconsistency should tell you how well to value his comments.
Are his comments corroborated by others and complimentary evidence How is Tinubu not the worst rogue politician?
5 mind-boggling revelations from Obasanjo’s ‘My Watch’
5. Tinubu was one of the most corrupt, of the 36 governors
Obasanjo never got along too well with former Lagos state governor, Bola Tinubu, and unsurprisingly, Tinubu got a mention in the former’s book.
Obasanjo revealed that then EFCC boss, Nuhu Ribadu tried to investigate almost all the state governors during his tenure but that of the 28 confirmed to be manifestly corrupt or tainted one way or the other, Tinubu’s case was one of the worst.
Lagos — ABIA State governor, Dr. Orji Uzor Kalu and his Lagos State counterpart, Asiwaju Bola Ahmed Tinubu would not escape justice but would be made to face the full wrath of the law following their recent indictment for alleged corruption by the Economic and Financial Crimes Commission (EFCC).
Chairman of the commission Mallam Nuhu Ribadu who made the vow yesterday said the duo must account for their stewardship and may be thrown out of office.
Chucks13: Tinubu God bless you. Africa must rise. This is what is called revelation that gave birth to vision pursued by a visionary leader. And one I d I o t who lies in everything only live his life on copy and paste living from Egypt to Uganda to Malaysia to China no vision, no foundation,no direction just want to run fake product economy policies to totally put Nigeria on cancerous economy, God forbid.... Proudly Nigeria We shall rise plus them the fake Jewish claimant minus them the fake Jewish claimant Africa will rise. I mentioned nobody name oo but if my post pointed at you then show ya face make we know yu. Read below what Yrump said about Tinubu: Donald Trump apologized to President Tinubu for the unfounded accusations made over the past year. According to Trump, he "was wrong with the Nigerian authorities' culpability regarding the current terrorism situation in the country." Moreover, the American president called Tinubu a "friend" and a "good guy."🇳🇬🇺🇸....Gbam!!!! Shame on obi, atiku and their lazy followers, tueh!!!
How will having a credit rating agency owned by the AU instead of private investors make Africa rise? Do you really understand what you said? Are other credit agencies owned by the EU, or OAS?
Moreover, why must black people seek validation from equally created oyinbos?
anonimi: Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?
In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;
or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority? @ @ The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.
Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.
Trust22: The development came months after President Bola Tinubu advocated the creation of an Africa-owned credit rating agency, arguing that African countries continue to face excessive borrowing costs due to inaccurate assessments of their economic risks
Why is Tinubu so keen on borrowing away our future without any improvement in government services and utilities, despite saving billions of dollars from subsidy removal and higher revenue target in August from greater tax burden on people?
Is that how the Chicago drug lord shows his voodoo economist credentials
anonimi: March 8, 2013 Nigeria operating voodoo economy – Tinubu
FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.
For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.
“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’
Ohyoudidnt: Interesting you put up a YouTube video from 2 years ago to support your statement. Accept the alleged characterisation of Tinubu by Obasanjo and not Atiku your man. Truly controversially interesting.
Why did Obasanjo endorse Atiku in 2019, four years after his My Watch comments? Can you please share where Obasanjo similarly endorsed Tinubu.
If Obasanjo's comments were not inspired by his painment over Atiku's loyalty to the constitution in 2007, during his failed 3rd term agenda, then why would he endorse him to be president in 2019?
anonimi: If there is anything I can do to help you out, I stand ready to assist.
Reference: I have said it over and over again. The problem is not subsidy, introduced or removed. I am for the removal.
Tinubu has not stopped paying subsidy, even though he announced it was stopped in May 2023.
He is paying far more than PDP presidents paid. He is paying the illegal subsidy to importers of fuel from their Malta blending plants to destroy Dangote, after his NMDPRA boy failed to do the dirty job.
Do you know why he is making petrol unaffordable despite paying more subsidies? Is it just corruption or is it pure wickedness?
HenryThegreat1: Aliko Dangote, the president of Dangote Industries Limited (DIL) has strongly refuted allegations by the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), insisting its diesel is 80percent superior to those currently imported into Nigeria.
The richest man in Africa said this Saturday while showing members of the House of Reps the company’s facilities.
“Until late last year, diesel imports into Nigeria were up to 7,000 parts per million (ppm) of Sulphur which has been going on for many years. Our diesel is produced currently at significantly lower levels of Sulphur; as such, we find baseless the allegation that the reason for the reduction is linked to quality. What we are producing is 80 percent of what is being imported into the country,” Anthony Chiejine, the company’s spokesperson Dangote Industries Limited said.
Read also: Explainer: Separating fact from fiction in NMDPRA’s claims against Dangote refinery
“Another inaccurate assertion is that Medium Level Sulphur diesel is meant for off-road use. This is a completely false statement as this would have invariably meant that all the imports for the last 20 years have been damaging equipment.
“Thirdly, diesel imports for the high Sulphur grade have been at significantly higher prices until we started operation. If indeed high Sulphur diesel is sold at lower prices how come we never saw the lower prices until now?” the spokesperson said.
Read also: Dangote refinery not yet licensed to operate in Nigeria-NMDPRA
Related NewsInsecurity, oil theft: Nigerians demand results not endless rhetoricWrong diagnosis killing many patients in Nigerian hospitalsHigh electricity tariff crushing Nigerian public varsities
Dangote proved through a laboratory test before members of the House of Reps, led by Tajudeen Abbas how the sulphur content of its diesel is within acceptable range in Africa and better than some of diesel currently available in the country.
Dangote diesel currently contains 87.6 ppm
For instance, Dangote’s laboratory officials tested diesel products from two major retail outlets in Nigeria – TotalEnergies and Matrix – against the sample produced by Dangote Refinery.
The test was carried out using a ED-XRF Spectro Photometer, using the ASTM D4294 method.
The sample from TotalEnergies’s diesel showed 1,829ppm sulphur concentration. The sample from Matrix retail showed 2,2752.8682ppm sulphur concentration while the diesel sample from Dangote Refinery showed 87.6ppm sulphur concentration.
Targets 10ppm sulphur content August
“By the end of next week, we should be on 50ppm and by August, it should be down to 10ppm,” Dangote said.
BusinessDay’s findings showed the minimum global standard is 50ppm, while 200ppm is still acceptable in Africa till the end of the year.
On Thursday, July 18, Farouk Ahmed, chief executive officer of NMDPRA alleged Dangote refinery as well as some major refineries like Waltersmith refinery, produce between 650 to 1200 ppm.
anonimi: NNPCL’s subsidy payment jump by 47.9% to N7.1trn in 2024
November 26, 2025
The Nigerian National Petroleum Company Limited (NNPCL) paid a total of N7.1 trillion as subsidy for premium motor spirit (PMS) in 2024, this sum represents a 47.9 percent increase from N4.8 trillion recorded in 2023.
This is despite the government’s announcement of subsidy removal in 2023.
The company explained that the amount, which it termed ‘energy security expense’ arises when there is differential between the exchange rate used to freeze the premium motor spirit ex-coastal price and the prevailing rate at the point of import settlement.
According to the report, government had instructed that NNPC Limited cannot sell its PMS above a certain regulated price. It added that the cost of petrol import is usually much higher that the regulated price.
Fool me once, shame on you. Fool me twice, shame on me.
Deltafirstson: Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.
In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.
Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.
Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.
At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.
However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.
“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.
Image123: If he do am, you go complain. If he no do am, you go still complain. UK prime minister also did his own bit regarding fuel prices today. Issa global thing.
Is it also a global thing to fail to do what one promised to do?
Why did Tinubu fail to crash petrol price below N185 for three years until Trump’s Iran war started
seunmsg: There is absolutely nothing inconsistent in the policy. It is price modulation and not reintroduction of subsidy. FG will not pay a kobo to any marketer as subsidy.
Basically, NNPC has agreed to a price ceiling of N1350 per liter. If the landing cost goes higher than 1350, they will sell at 1350 and bear the additional cost. When price then falls below N1350 to let's say N1200 they will recover their cost by still selling at 1350 till full recovery. If price is still low, they can then reduce the price after full recovery.
Not so bad on paper but implementation is key. Apart from NNPC, I am not sure if Dangote and other private sector players in the downstream sector have agreed to this arrangement. It will require serious regulatory monitoring so that Nigerians don't get shortchanged when the prices finally come down.
Anyway, I am hopeful that the outcome of the US election will bring an end or at least a peace agreement to the US-Iran war in the next 30 days.
Confusion Break Bone, CBB is one of Fela’s many hit songs.
You go ṣàlàyé and explain tire about how 6 is different from half of 12.
In any case, Tinubu has always been an inconsistent, ẹfulẹfu and unstable character.
Did he not package Buhari up as APC change messiah in 2015, just four years after calling him expired?
ClassicMan202: I never country wey dey celebrate immigration like 9ja.... Imagine celebrating that you left your home... Na wa o
Mental laziness and the inability to understand and act always on Enlightened Self Interest (ESI) basis, demonstrates itself in various ways and forms.
The irony of it all is that some of us still believe that oyinbos are responsible for our enduring underdevelopment, seven decades after we told them to leave us alone to run our own countries.
anonimi: Neo-black Problem: Must Blacks Be Ruled by Whites in Order to Prosper?
In short, the neo-black dilemma may be framed as follows: is it better to live under white rule without political dignity but with basic life-sustaining standards for many;
or to live under black rule with illusory political dignity and without basic life- sustaining standards for the majority? @ @ The path forward for Africa lies in cultivating higher and adequate levels of personal and communal agential integrity as well as full personal responsibility and productivity. Not to mention creativity (including epistemic creativity), productive justice (such as merit and freedom), harmony and reconciliation at local and international levels, and a proper domestication of capitalism and other related values and institutions.
Africa must stop wasting her time on dreams of socialism because it is a system of wealth distribution primarily. Whereas, capitalism is a system of wealth creation primarily, and wealth has to be produced before it can be distributed.
As Nigerians gathered with family and friends to celebrate the New Year, the federal government was baking a national cake wrapped in the scheme that would instantly make the New Year a bitter one. Barely had the public weaned itself from last year when government dropped a historic surprise on an unsuspecting nation. PPPRA issued a statement abolishing the fuel subsidy. By this sly piece of paper, the federal government breached the social contract with the people. This government, which owes its very existence to the people’s desire to be governed by someone more humble than elitist, has turned its back on the collective will. By bureaucratic fiat, government made the most fateful economic decision any administration has made since the inception of the Fourth Republic and it has done so with an arrogant wave of the hand as if issuing a minor regulation. Because of the terrible substance of the decision and the haughty style of its enactment, the people feel betrayed and angry. At this moment, we know not to where this anger will lead. In good conscience, we pray against violence. Also in good conscience, it is the duty of every citizen to peacefully demonstrate and record their opposition to this draconian measure that is swiftly crippling the economy more than it will ever cure it. By taking this step, government has tossed the people into the depths of the midnight sea. Government demands the people swim to safety under their own power, claiming the attendant hardship will build character and add efficiency to the national economy. It is easy to make these claims when one is dry and on shore. Government would have us believe that every hardship it manufactures for the people to endure is a good thing. This is a lie. The hardships they thrust upon the poor often bear no other purpose than to keep them poor. This is such a time.
I am not calling President Jonathan an evil man. I do not believe he is perverse. However, the economic ideas controlling him are so misguided that they have a perverse impact. Because he is slave to wrong-headed economics, the people will become enslaved to greater misery. This crisis will bear his name and will be his legacy. The people now pay a steep tax for voting him into office. The removal of the subsidy is the “Jonathan tax.” This situation shows that ideas count more than personalities. People may occupy office but how that person performs depends on the ideas that occupy his mind. Though someday, Nigeria will have to remove the subsidy, the time to do it is not now. This subsidy removal is ill-timed and violates the condition precedent necessary before such a decision is made. First, government needs to clean up and throw away the salad of corruption in the NNPC. Then, proceed to lay the foundation for a mass transit system in the railways and road network with long term bonds and fully develop the energy sector towards revitalizing Nigeria’s economy and easing the burden any subsidy removal may have on the people. But we know this is about more than the fuel subsidy. It is about government’s ideas on the role of money in better the lives of people, about the relationship between government and the people and about the primary objective of government’s interaction in the economy. It is about whom, among the Nigeria’s various social classes, does government most value. This is why public reaction has been heated. It is not so much that people have to spend more money. It is because people feel short-changed and sold out. Government seeks to convince us that the Jonathan tax is an unavoidable decision mandated by immutable economic principles. If you accept their premise, you must agree with their conclusion. However, their argument falters at its inception. There are few immutable economic principles. Economics is not an exact science with unbreakable rules like physics. Economics is no less subjective than politics. It was born an offshoot of politics and there it remains. What this government claims to be economic decisions are essentially political ones. As there is progressive politics, there is progressive economics. As there is elitist politics, there is elitist economics. It all depends on what and who in society government would rather favor. The Jonathan tax represents a new standard in elitism. This whole issue boils down to whether government believes the general public is worth a certain level of expenditure. It is like the situation where a man dates more than one woman. To each, he promises love thus nothing can be deduced from his words. However, we know he will spend and dote more on one and she will be the one he loves above the others. When banks were in distress, government produced billions of naira out of thin air and in record time. It was explained the swift expenditure was needed to stop the banking system from imploding. There was no worry that government would be bankrupted. If the banks were to fall twenty times in the future, government would jump twenty times to their rescue. It does so because this government lives a conservative economics placing it in close alliance, if not collusion, with corporate power. However, because the distance between government and the people is far and genuine level of affection is low, government sees no utility in continuing to spend the current level of money on the people. In their mind, the people are not worth the money. Government sees more value in “saving” money than in saving the hard-pressed masses. Yet, what does government actually save by this measure? The concept of a government that has the unfettered ability to print its own currency needing to save that currency for fear of insolvency is an anachronism. That his economic advisors would cling to this notion is like a person insisting on taking to the expressway in a horse-drawn carriage. For a government that prints its own currency, attempting to save in that very currency in order to defend against bankruptcy in that currency is a relic of the gold standard abandoned forty years ago. If government thrashed the fuel subsidy based on considerations that it will run out of naira then it based its decision on a factor that have not been relevant since the time of the Biafran war........
Or being a tribalistic believer in zoning and rotation is enough? Zoning and rotation to share the national cake at local, state and federal levels in both legislative and executive branch positions.
DavidMm: Why is it that our sports administration and administrators are always slow to catch up? When the rest of the world and top leagues in the world are moving away from having their platform be a tool for promotion for this particular business, a business that preys on the youth of a nation, sabotage and mortgaged their futures, here's the NPFL in an open arm embrace of it.
To the Nigerian Government--Executive, legislative and Judiciary; while we may not be able to tame this hydra headed monster called sports betting, we can definitely make sure it doesn't grow any bigger than it is. We have to deprive it of air: restrict their ability to advertise.
Just my thought!
#ForwardEver!
What did your own senator and representative say about this issue when you spoke about it with them?
How much of your own money, time, talent and other resources are you investing into our league? How many merchandise of your home team do you have? How often do you buy tickets for the games of your home team?
Depending on your answers, you may need to rewrite your comment.
deji17: People just love freebies. Majority of them are there not because they can't afford to buy bread but because it's free.
Don't you love freebies?
Did we have as many scenes of freebie lovers hustling for bread, akara, rice, beans etc stomach infrastructure when PDP gave us cheap petrol, less debt & tax burden with high productivity built on privatisation and deregulation policies that made us the biggest economy in Africa?
Omicronvaccine: Wherever You See Free Food, Eat It - Nigerian Senate President, Senator Akpabio Advises Nigerians
Omooba77: The association, in a statement on Sunday by the NAS Capn, Dr. Joseph Oteri, said these needless deaths, a grim reflection of the desperation gripping many Nigerians, underscore the rising hunger and economic hardship that has engulfed the nation.
The National Association of Seadogs (Pyrates Confraternity) says it is deeply saddened by the tragic loss of over 60 lives in Oyo, Anambra, and Abuja during recent palliative distribution stampedes.
The association, in a statement on Sunday by the NAS Capn, Dr. Joseph Oteri, said these needless deaths, a grim reflection of the desperation gripping many Nigerians, underscore the rising hunger and economic hardship that has engulfed the nation.
“While we commend the government's effort to alleviate the plight of vulnerable citizens through palliatives, it is evident that these measures have been marred by inadequate planning, poor coordination, and lack of accountability,” it said.
According to the group, the chaotic scenes that led to the fatal incidents are an “indictment of the systemic failure to address the root causes of hunger and poverty”.
The group noted that rising hunger in Nigeria is a national emergency that demands urgent action.
“Failure to act decisively will deepen the crisis, with devastating social, economic, and political consequences,” it said.
“We mourn with the families of the deceased and demand that the government ensures accountability for this avoidable tragedy. Hunger should never be a death sentence in a country blessed with abundant resources.”
“It is time to rise to the challenge of ensuring that every Nigerian can live with dignity, free from the scourge of poverty and hunger,” it added.
Therefore, the association called on all levels of government to urgently prioritize sustainable solutions to the hunger crisis.
It said, “Palliatives must reach the intended beneficiaries without endangering lives. Transparent and well-organised systems, with the involvement of community leaders and credible NGOs, should be put in place to avoid chaotic distributions.
“Beyond temporary relief measures, the government must develop long-term strategies to enhance food production, support local farmers, and stabilize food prices.
“Programmes aimed at addressing the needs of the most vulnerable must be scaled up. Access to affordable healthcare, education, and social safety nets is critical to lifting millions out of poverty.
“Policies that create jobs and enhance income-generating opportunities should be fast-tracked to reduce dependency on palliatives.”
The association noted that two of its chapters in Edo State (Area 3) recently had successful palliative programmes, during which over 2,000 underprivileged persons were fed.
It added that one of the key components of the programme was orderliness.
SalamRushdie: A party that believes you should not be able to afford something a little as bread is your worst enemy ..Vote them out
If smart Lagosians have failed to vote out Tinubu's A-looter Propaganda Conmen, APC in 27 years of their destructive governance, why do you think that 200 million Nigerians can do it?
Gotocourt: Ghana, South Africa, Egypt and Ethiopia. Nigeria is set aside because of the drug pusher .
Tinubu and APC's akara palliative policies have destroyed the prosperity economy built on privatisation and deregulation policies by PDP for 16 years.
High productivity, low unemployment economy that made us the biggest has been wrecked to 4th place by the clueless balablu bulaba town hall clown, who nevertheless sees himself as the master strategist of our a-looter tribalistic politics of rotation and zoning to share the national cake.
Nigeria loses 47% of dollar millionaires, retains 4th position in Africa
Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth.
Despite the sharp erosion in private wealth, Nigeria retained its position as Africa’s fourth-largest hub for dollar millionaires, with 7,200 millionaires, 20 centi-millionaires (individuals with investable wealth of at least $100 million) and three billionaires, trailing only South Africa, Egypt and Morocco.
The report showed that South Africa remained the continent’s wealthiest country by number of dollar millionaires, with 41,100 millionaires, 112 centi-millionaires and eight billionaires. Egypt followed with 14,800 millionaires, 49 centi-millionaires and seven billionaires.
anonimi: Nigeria remains fourth largest economy in Africa despite rebasing
July 21, 2025
Nigeria has retained its status as the fourth largest economy in Africa despite a rebasing exercise that expanded the country’s gross domestic product (GDP).
The National Bureau of Statistics (NBS) announced that the economy expanded to N372.8 trillion ($243 billion) in 2024, down from N314.02 trillion in the prior year as more sectors in the informal economy were considered in its calculations.
The statistics bureau adopted 2019 as its base year away from 2010 that’s previously reported.
The rebasing exercise covers the period from 2019 to 2023 and reflects changes in the economy’s structure, sectoral contributions, and data sources.
Despite the overhaul, Nigeria fails to reclaim its erstwhile status as the largest economy in Africa.
According to the International Monetary Fund (IMF), South Africa remains the continent’s biggest economy with a GDP of $410.34 billion for a country with little over a quarter of Nigeria’s population.
Following the Southern African nation is Egypt with a GDP of $347 billion while Algeria maintains its third position having $268.9 billion as the size of its economy.
Although Nigeria’s economy grew 30 percent above the projected $188 billion estimate by the IMF this year, the rebasing was poised to place the economy as the biggest in Africa.
Ironfaceman: Ghana is trying to do right by her people.while Our politicians only care about themselves. Ghana still operate fuel subsidy and the government can still pay salaries.life in Ghana may not be fantastic but cost of living is cheap hence many Nigerians reside there. Nigeria have jettisoned fuel subsidy yet our borrowing have quadrupled and salaries are inconsistent
That is Tinubu's voodoo economy for you- borrow more than PDP presidents who gave us cheap petrol and widespread prosperity.
What else do you think that the master strategist is doing with all our money apart from stealing it
anonimi: March 8, 2013 Nigeria operating voodoo economy – Tinubu
FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.
For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.
“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’
Robertgreene1: And yet, You people are still breeding like Rabbits, bringing innocent kids into this shit-hole to suffer with you!!! I don't pity anyone with more than 2 kids that is suffering. You enjoyed the fvcking, now carry your cross!!!
What other recreational activity do jobless, extreme poverty paupers have, apart from fvcking, especially where there is no electricity
Why does the article fail to include the essence of the Presidency’s defence,
treesun: 2027, even if the Gulf conflict ended soon. ‘Governments Must Act Now’ Georgieva also took aim at governments struggling with ballooning debt, warning that highly indebted advanced economies were not moving fast enough to bring their fiscal positions under control.
She called for credible medium-term plans to reduce fiscal deficits and urged emerging economies to build stronger fiscal buffers and foreign exchange reserves.
The IMF chief also said Artificial Intelligence could provide a significant boost to the global economy, potentially adding up to 0.5 percentage points to annual global growth and lifting the growth rate from around three per cent to 3.5 per cent over time.
Nigeria’s N166.7tn Debt Raises Fresh Questions Despite the Presidency’s defence, Nigeria’s debt position remains a subject of intense economic and political debate.
The Federal Ministry of Finance puts the country’s total public debt at about N166.7 trillion as of the second quarter of 2026, with the debt-to-GDP ratio at approximately 35.5 per cent.
The IMF’s April 2026 Fiscal Monitor had projected Nigeria’s debt-to-GDP ratio at 32.3 per cent in 2026, compared with 35.5 per cent in 2025, before rising slightly to 33.1 per cent in 2027.
But the headline debt-to-GDP figure tells only part of the story.
Economists also assess a country’s ability to generate revenue, meet debt-servicing obligations, withstand currency depreciation, absorb higher interest rates and manage the structure and maturity of its debt.
The Debt Management Office said Nigeria’s total public debt stood at N159.28 trillion at the end of December 2025, before subsequent increases.
The figure covers debts owed by the Federal Government, the 36 states and the Federal Capital Territory.
With global debt climbing towards historic levels and Nigeria’s own debt stock continuing to rise in naira terms, the central question is no longer simply how much Nigeria owes—but whether government revenue can keep pace with the cost of servicing the debt.
leochinonso: So much borrowing with very little to show.
Is this what the master strategist called voodoo economics before 2015, as he fought to package his 2011 expired Buhari as APC change messiah?
How come he is paying more in debt service but the total debt is growing?
anonimi: March 8, 2013 Nigeria operating voodoo economy – Tinubu
FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.
For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.
“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’
LordIsaac: Dangote alone can help us pay the chicken change.
What will happen when he closes his refinery after paying the huge debt on behalf of Nigerians who can't hold their leaders looters accountable due to tribalistic rotation mindest?
Explore2xmore: Pump prices follow crude, the naira and margins, so no candidate can fix a number. Atiku's graphic and Duke's plan both give local refiners cheap crude, a subsidy paid as forgone revenue, uncosted, and useless unless the discount reaches the pump. Malta imports are real, but research to date shows no live subsidy, only old arrears owed to NNPCL. Tribalism is real, but elites exploit it more than it explains capture; people sell votes out of poverty and low trust. Which foreigner would you rather have openly prominent in our affairs? Apparently you prefer the one from a neighbouring African country that lives a lot more in Dubai.
Politics › Re: The NNPC Retail Discount Is Not A Subsidy, No Public Money Is Involved - FMF by anonimi: 10:30am On Oct 09*. Modified: 11:20am On Oct 09
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