Alliswell248: Cluelessly indeed. Fx reserve grown to over 53 billion dollars No ASUU strike in over three years
Unlike one agulu third class philosophy guy who allowed ASUU strike in small Anambra for seven months and doctors spents 13 months at home. Shameless man
How much has our debt burden grown in Tinubu's amalanomics degraded version of voodoo economics
Are you sure you know what shame means?
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.’
Parachoko: Even in the US, The President, Governors, Lawmakers and Politicians, hardly Willingly agree to release all their records
You dey mind our Stockholm syndrome sufferers?
Shebi in US cities and towns they are drinking water from shitty boreholes after their governors increase tax burden on them to grow budget 100 times to N4.2 trillion in 27 years.
The Permanent Secretary, Office of Drainage Services and Water Resources in Lagos State, Mahmood Adegbite, has said that people drilling borehole in the Lekki axis of the state is probably drinking ‘’shit water.”
While speaking at a stakeholders meeting in the state recently, Adegbite noted that contaminated boreholes in Lekki pose health risk and added that treatment of waste water would eradicate any form of disease that may arise from it.
He said, “On waste water treatment, I will say that everyone digging borehole within the Lekki axis is probably drinking what I will call ‘shit water.’
markfemisgay: Did you forget he instructed his fellow acn members in the house to vote against his own blood mulikat akande in the race for speaker of the house. Tinubu is a petty human.
He is not being petty. He is being a master strategist in the winning game of politics that betrays anyone and everyone who is not helpful to his fight for power, which he runs cluelessly with after grabbing it.
Is that hot how he has become the Asiwaju of Yoruba politics and president of Nigeria?
1vandragon: What is bat really afraid of? If he has nothing to hide, he need fear no harm to his reputation or support base. I know for a fact that even if the records hold damaging information on his person, it won't affect his reelection chances in Nigeria or even make a significant dent in his support base... So, why the concern about release of the records or hounding those who believe there is something fishy about his past?
Jagaban of Borgu's concerns are understandable, seeing how his name is different from that of his Iyaloja Mogaji mother.
Parachoko: I can still remember In 2023, when I complained about how this Cash Transfer was done, some were attacking my comment
How is Tinubu not the worst rogue politician in Nigeria with all this looting that he is supervising?
Can you imagine that he is owing workers, owing pensioners, owing contractors and even rolling over budgets since 2024 because of non implementation despite saving billions of dollars from subsidy removal, increasing tax burden on us to hit higher revenue budgets in August while borrowing more than PDP presidents who gave us cheap petrol and cheap dollars with widespread 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.
Waterwaytega: Nigerians no de too benefit from dis oga oh.. Him suppose cut prices of fuel and cement for us but instead him de use us climb
Why are you not addressing yourself to Tinubu who promised to crash petrol price below N185 and make dollar exchange for N300 in the short term before he was allowed to grab power from Buhari?
Do you know how much subsidy APC has forced you to pay for every litre of petrol since 2015, due to massive corruption in their oil industry
anonimi: Petrol should never cost more than N70 per litre, says APC
January 19, 2015
The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.
On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.
But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.
It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.
cr7lomo: This is the question every smart Nigerian should be asking....but unfortunately, the smart ones are very few or will keep silent or are benefiting from that scammer
If there are truly smart Nigerians then why are they not enlightening others to grow their numbers into the majority?
How can smart Nigerians be benefitting from the scammer, if they are not foolish scammers themselves with a myopic view of how societies function to benefit everyone
cr7lomo: The devil is using him to impoverish Nigerians .... this criminal is scamming Nigerians to gain global wealth .... the only manufacturing billionaire that has 95% of his wealth from Nigeria...that tells u that he is scamming us
Please how is Dangote scamming you more than your own LGA councillor and chairman as well as state lawmaker and governor plus federal representative, senator and president are doing?
Does Dangote collect money from you without providing agreed products, in the way that your public servants collect revenue from you in various ways and on your behalf without providing the most basic service?
What is your misplaced aggression about? How will it help you have a better LGA, state or country
You may need to refresh your memory about what Stockholm syndrome is, starting with the thread below. Thank me later.
edlion57: He should pity us ...i don't know if he's for us or against us
Dangote is definitely for Nigerians with his PDP-licensed private refinery, unlike Tinubu and APC who have told us propaganda stories of reviving NNPC refineries in 2015 and exporting fuel from the PH one since December 2024.
Do you know why Tinubu is making us buy expensive petrol despite paying subsidy to his Malta blending plant importers to destroy Dangote refinery, using his NMDPRA proxies
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.
Nigeria league just tire me, no team is playing in front of their home fans. All the teams are adopting different venues for their home matches
Teams need money to build CAF standard stadiums.
How will they get the money without Nigerians supporting their HOME teams by attending games, buying merchandise, following them across media channels and platforms?
Missionflex: Now that nairaland is coming to their senses, as they are now giving us stuffs from the home front, I think the teams will start doing well now.
You are very correct that with more attention on the league by Nigerians here on nairaland and offline, we will see transformational growth with the teams as we have seen with Nollywood first and Afrobeats subsequently.
Let's grow our HOME teams by following them closely on various media channels/ platforms and watching their games live in their jerseys.
Sheuns: Let me burst your bubble, our forefathers didn’t have religion.
Traditional worship was gate kept by a very few people that were defined to be priests and normal people couldn’t reach the gods unless through the priests.
What else is religion if not what I highlighted above
How is it different from Islam, Christianity, Hinduism, Judaism etc?
Imalwayshorny: Northerners are worse than southerners don't joke with them
Are you referring to northerners like Jagaban of Borgu? The man who has a name different from his mother’s. No wonder he is fond of throwing southerners under the cow 🐄 to favour his fellow northerners.
Why should anyone who is not an olodo, uneducated, school na scam agbero be grateful for Tinubu’s agbalọwọmeri sakamanje reforms to the education sector
Most tertiary institutions in the country have hiked their fees by over 150 %, putting serious strains on the finances of parents and guardians who also have to contend with the poor state of the economy which has reduced purchasing power and savings.
Checks by Vanguard Learning in public universities across the country show that the increment in obligatory fees, which started late last year is continuing, as a new session starts in some schools this January.
Only on January 6, this year, for instance, the Federal University of Technology, Akure, FUTA, Ondo State came out with a proposal to hike fees by over 100%.
The worst rogue politician has always been a useless balablu bulaba progreThief. Someone who promised free education but never delivered. Instead he and his master plan successor increased LASU fees. The university that was established by UPN progressive governor Jakande in just four years without killing Lagosians with high tax burden.
anonimi: Nigeria: Tinubu imposed Fees on LASU - another major attack on Education
06 June 2006
Back in February two Lagos students were killed by police as they protested against the recent hike in school fees. In some cases fees have been increased a hundred times over. This is making it practically impossible for poor and working class Nigerian children to get an education.
"The Lagos State university students' union in conjunction with the NANS zone D and NANS JCC Lagos Axis berate the satanic increment in LASU school fees and the killing of some students of LASU during the peaceful protest against the increment in school fees. And call for the immediate reversal of these exploitative fees as a prerequisite to let the less privilege have access to Education".
These was the first paragraph in the leaflet issued by the students' union alongside with NANS zone D and JCC Lagos in February after the students' protest against the fees, which led to the killing of two students by the police on the command of the Lagos State Government.
It will be recalled that immediately after the appointment of a new vice chancellor last year, December 2005, the Tinubu regime of Lagos State announced to Lagos residents that the government could not afford to subsidize education and that in line with the ‘reforms' in the education sector, there cannot be any free education. The university authorities were directed to increase the fees from 250 Naira for old students to 25,000 Naira, while the freshmen's old fee of 1, 000 Naira was increased to N35, 000. This increment exclude the acceptance fees N10,000 introduced earlier to the fresh students two years ago.
It is very important to note that even while the official school fees were placed at N250 earlier, an average student still pays as much as N25,000 to the university or its agents. This takes the form of handouts, registration fees, etc.
Not excluding the current attempt to deny the children of the working class education by the newly imposed post-JAMB test, according to ruling elites, it is to checkmate examination malpractice experienced during jamb exams but from reality, it has been confirmed as another conduit pipe through which money is generated and siphoned without question. This post jamb fee in LASU is N2,000. All these fees stated above do not include various expenses to be incurred while going through the registration processes.
The Tinubu administration carrying out these attacks on students is a master of deception. Towards the end of his first four years, he became one of the most hated governors in Nigeria as he committed enormous atrocities against workers, students and rendered many people homeless. The sacking of over 10,000 workers in 2001/2002 over the N7,500 minimum wage protests is still fresh in the memory of the working class despite the treachery of the labour leadership.
Okay. Not exactly what he said. But that is exactly what he implied. How much is the minimum wage of Lagos state civil servants? He seems to be out of touch and his statements are highly irresponsible!
Governor Babatunde Fashola battled hard weekend, to justify the astronomical hike in tuition fees recently introduced in Lagos State University, LASU, by the state government. Recall that the state government had increased tuition fees paid in the university from N25,000 to N250,000 per session.
Fashola, who spoke at Government College, Ughelli’s, annual luncheon party in Lagos, said Nigerians were unconsciously making the country one where there would be separate schools for the rich and poor.
According to him, critics of the increment are indirectly calling for a Nigerian society which will be divided into poor university for the poor and rich university for rich people.
He said: “Countries that do not prioritise education are always at the mercy of those who place a high premium on education.
“Where in the world have we seen tuition fee of university of N25,000? You cannot find this anywhere. Even the nations that are developed and wealthy do not give education for N25,000.
“LASU started very well and over the years, the population grew and beyond the available facilities and the school began to deteriorate. We are determined to rescue LASU and we will not make it a school for the poor.
“We are unconsciously making Nigeria a society where there will be a school for the rich and one for the poor. “Several people in this country pay so much for education abroad while the schools here continue to deteriorate. It is only in the university that the children of the rich and children of the poor can sit in the same classroom.”
oneMalik: all y'all just deh MUMU up and down instead of campaigning for election . For una mind anything go fit stop Tinubu except God ba ? una still get long journey to go .
Did you find out that it’s a short journey to Stockholm syndrome suffering land?
Did you find out that the people in Stockholm syndrome suffering land are happy to have Remi Tinubu’s akara empowerment since her husband is clueless about creating 50 million jobs promised?
PDPdestroyer: The irony is that, to put the country on the path of sustainable growth and development, anyone taking over from Tinubu must continue with most of Tinubu’s reforms, especially the FX policy and subsidy removal.
Those myopic and unpatriotic individuals who want to take us back to the era of the so-called ‘low exchange rate’ that only the privileged could access while the ordinary Nigerians buy at premium black market rates, or the ‘subsidized fuel prices’ that comes with endless queues at the filling stations leading to loss of productive manhours, need to have their heads examined
Why is Tinubu selling expensive petrol despite paying illegal subsidies with a different name, to importers in his continuing efforts to destroy Dangote refinery
What balablu bulaba propaganda is this subsidy removal reform?
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.
Size is useless when the leadership is also useless.
Switzerland..Germany...and co are NOT bigger than most African countries , but they have a working syatem that makes it imperative that their leaders do the needful and they have SOLID infrastructure, healthcare,education etc etc etc
In Africa, especially NIGERIA, we have a DRUG DEALER that has the audacity to tell citizens suffering under economic stagnation that he is going for 3wks holiday. The funniest thing is that the HOLIDAYs are in another country on another continent.
Serious President's dont go for HOLIDAYs when their countries are in turmoil, both economic and security wise.
Shame.
How can leadership emerge from among the people, except the people want that leadership to emerge from their own midst
Kalashnikov49: Look deeply na MYOPIC supporters of APC...that are constantlyquick to shouting PROGRESSIVES, but a real failures in real life events
Na dem dey always shout NIGERIA IS the GIANT of AFRICA, with failed infrastructure, bad leaders, dead ecom9ny ,etc etc et Check am well na dem...
Awon sophisticated failures.
PDP’s deregulation and privatisation policies made us productive and prosperous for 16 years until we became the giant of African economies.
Then Tinubu begged Buhari out of retirement to destroy everything, before he took over in 2023 to make the bad situation even worse.
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.
How can this map change by oyinbo people translate into bigger things for a continent of extreme poverty paupers and out of school children, where blacks have refused to evolve beyond tribalistic zoning and rotation for sharing the national cake of corruption?
How can you get power from the masses without them allowing you, through whatever means you use to make them do so, including Stockholm Syndrome suffering?
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.
Slaves reporting their country to their masters in the United States. The Chinese, Singaporean, Indian deal with their mess . But Nigerians seeking for help from their crooked masters in the United States, who their hands are not even clean . The same country that plunged the world into the mess we are today .
Is this why Tinubu made a big deal of giving a speech in Chatham House, where he showed his balablu bulaba cluelessness during the Q&A session?
Thankfully, El Rufai was there to help him out of his misery.
Is he the one who has the Lagos master plan to increase the state budget 100 times to N4.2 trillion in 27 years but failed to employ enough workers to make water available to all households?
Desperate progreThieves labouring in vain to avoid the inevitable downfall of their master strategist in a-looter propaganda politics
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.
Jayhome24: Tell them the truth Mr Gatti. 2 failures thinking they can do anything better than Tinubu its just too funny. Our foreign reserve grew up to over $54billion first in over 18 years Our GDP grew sharply. Inflation droped. Exchange rate stabled. Economy recovering. No state owed salary. Federal staff paid up to date. No ASUU strike for 3 years first time since 1999. Thousands of kidnapped victim were freed first of such since Gej era till date. The list is endless so what eise does atiku or that yeye obi has to offer again? Nothing, than lies and drag the nation backward. Hello cry cry babies the reform will be fully completed and you can't do nada about it than quiting Nigeria and we wish you a safe journey, go and neva come back here forever.
Please take your ofege propaganda elsewhere.
How much debt has Tinubu accumulated in his destructive tenure of voodoo economics?
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.’
Politics › Re: Von Batten Reposts Trump's Appointment by anonimi: 8:48am On Sep 07
