₦airaland Forum

It is not just about the 3 major tribes but it has to do with the centralized system of government that we are practicing that fuels tribalism and hateful sentiments among Nigerians. The flawed corrupt system ensures that there is no sustainable development by making it easy for callous incompetent politicians to remain in power by dividing the people.....

WantsandMore:
this just goes to show that the three major tribes in Nigeria are the problem that prevents political growth and development in Nigeria. I just want an Igbo presidency in my lifetime to confirm or discard my hypothesis. The three major tribes don’t mind putting a dumbo as a leader as far as he’s a son of the soil. Hopefully campaigns will no longer be about tribes and religion but competence and character. Until then, we just can’t complain. I was actively involved in Buhari’s campaign and Tinubu’s campaign and Peter Obi’s campaign, the M.O is thesame. Competent presidential hopeful don’t even get a quarter of traction this dumbo’s majority tribes get.

Surprisingly they are mute now…. Tribal hateful propaganda doesn’t pay in the long run….

Once again I will reiterate that the centralized democractic system of governemnt that was sold to Nigerians in 1999 will not bring about the prosperity that Nigerians seek as you can't elect good leaders through it due to the inherent forces of tribalism and religious bigotry that exists at the center..... It can not work for a highly sentimental multi-ethnic, multi-linguistic, multi-religious, multi-cultural people like Nigerians. Only a decentralized system of government with strong regions can bring about peace we need for Nigeria to heal and prosper.....

In May 28, 2023, after the shambolic presidential election that made Tinubu president, I had made a post titled 'Tinubu, Another Evil Illegitimate President' in which I appealed to Nigerians to reject the election outcome and protest for restructuring of Nigeria. Many Yoruba Nairaland members and APC agents attacked and reigned insults on my thread over their foolish support for Tinubu. In defence of my stance to all critics in that thread, I made this prediction.

All of you leaving negative memes and comments will surely regret your utterances within the next 4 years. You and your families will bear the brunt of continuation of APC's disastrous economic policies. I can see that many of you replying to my post are Yorubas and you think abusing igbos, supporting Tinubu will favour you because he is your "brother" (Typical Nigerian sentiments).... It is unfortunate that many Nigerian youths are hopelessly and helplessly tribalistic especially on political issues. Tinubu will only serve the interest of the foreign powers (USA, UK, France et al) and the Nigerian political elites that helped him to secure power. He has no moral burden to serve Nigerians since he didn't win the people's mandate. Ask the average Hausa or Fulani man in your neighbourhood what he thinks of Buhari's government and it is the same feeling like any other Nigerian facing the economic realities of his government. They didn't benefit and infact many of them today regret supporting his campaign in 2015. It will not be surprising that by this time next year some of you here screaming "ipob wailers" and "obi-diots" will be the ones crying and lamenting over Tinubu by the time he begins to dish out his evil policies. As I said in previous post, Nigeria needs a foundational restructuring that will usher in a decentralized system of government so that peace, equity and justice will reign. We can't make any progress with the current system of government that only favours a few powerful people. We are only wasting our time and pretending.... Nigeria's current democracy is a scam.....
https://www.nairaland.com/7706331/tinubu-another-evil-illegitimate-president

I,ve studied Nigeria's political space for quite a long time, I knew just like a few other users of this forum that Tinubu will be a disaster for Nigerians but unfortunately the hateful tribalism from mainly Yorubas and religious bigotry of northern Hausas/Fulanis did not allow many Nigerians to reason clearly. Today, my prediction has come to pass, what I warned Nigerians right from 2022 against has happened. I feel sad as the situation now appears to be a hopeless one for Nigerians because even within the current harsh terrible economy, the hateful tribalistic sentiments and religious bigotry propaganda is still been used to divide Nigerians. As it stands, it is only through unity can Nigerians rescue this country from the evil forces unleashed by Tinubu with his foreign collaborators (World Bank/IMF). Just as I said in my previous thread, the only way Nigeria can be saved is by restructuring the country's political landscape to decentralize political power with a new people backed constitution. This can only be achieved through a national movement (Revolution) that will require corporation of all regions. I don't know how and when majority of Nigerians will decide to let go of tribalism, selfishness, greed, hate and religious bigotry over national development because if nothing is done to stop Tinubu and his World Bank backed evil policies, IBB's SAP will be child's play when he is done with Nigerians. I do not see how this country's economy will survive his deceptive propagandas, free floating currency, subsidy removals, excessive taxations and impoverishing parliatives.

If Nigerians decide to remain foolish and do nothing to save this country, many will perish over Tinubu's callous policies and he may succeed in totally destroying the country before 2027....

Nigeria remains an import dependent economy that lacks the critical infrastructure to encourage local production, CBN sustaining this policy of free floating the Naira currency is a recipe for disaster. What this means is that due to "market forces", the naira can crash to N5000 to $1 at anytime with no measures put in place to cushion it's effects on the economy.

Nigeria's fragile economy can not withstand sudden and random increases in the value of the Naira and energy costs, it cannot continue to absorb the incessant increases in fuel price with a resultant increase in unemployment as more businesses shutdown, prices of food continue to rise and insecurity spreads. It is glaring that these cruel policies will further destroy Nigeria's economy on the long run as Tinubu has demonstrated on several occasions that he does not care about the well-being of Nigerians. If he cared, deliberate effort should've been made to cut the cost of his government and fix one national refinery to further reduce the pressure on the Naira....

Nigerians need to take responsibility for the sorry state of the economy and massively protest the anti-people policies implemented by this callous government. If Tinubu and his government can not provide solutions to the incessant fuel price increases and the terrible state of Nigeria's economy, let him resign or be impeached to save the nation from impending doom.....

Edun revealed that these subsidies had drained the country’s economy, costing over N10 trillion, which amounts to five percent of Nigeria’s Gross Domestic Product (GDP).

“Fuel and FX subsidy are extinguished,” Edun said, as he emphasized the financial strain these policies had imposed on the nation.

You can see how shallow Tinubu and some of his ministers are in the way they are managing the economy .... You removed subsidy because of over N10 trillion cost only to incure massive losses of over N30 trillion within one year.... Does this make sense?

According to Edun, subsidy had to be removed due to N10 trillion cost but since it was removed, Nigeria has lost more than N30 trillion as result of astronomical drop in direct foreign investments, job losses, massive drop in production and massive drop in GDP....

Nigeria remains an import dependent economy that lacks the critical infrastructure to encourage local production, CBN sustaining this policy of free floating the Naira currency is a recipe for disaster. What this means is that due to "market forces", the naira can crash to N5000 to $1 at anytime with no measures put in place to cushion it's effects on the economy.

Nigeria's fragile economy can not withstand sudden and random increases in the value of the Naira and energy costs, it cannot continue to absorb the incessant increases in fuel price with a resultant increase in unemployment as more businesses shutdown, prices of food continue to rise and insecurity spreads. It is glaring that these cruel policies will further destroy Nigeria's economy on the long run as Tinubu has demonstrated on several occasions that he does not care about the well-being of Nigerians. If he cared, deliberate effort should've been made to cut the cost of his government and fix one national refinery to further reduce the pressure on the Naira....

Nigerians need to take responsibility for the sorry state of the economy and massively protest the anti-people policies implemented by this callous government. If Tinubu and his government can not provide solutions to the incessant fuel price increases and the terrible state of Nigeria's economy, let him resign or be impeached to save the nation from impending doom.....

Funny comment. Did you watch the video....? Seem you just want to play ignorant knowing fully well that it is all over the news....

Shadomaan7:
The source of the message is not reliable. The World bank have not issued any statement like that.

https://www.youtube.com/watch?v=nX6FTsDcdYs

Tinubu, CBN urged by World Bank to continue harsh economic policies for another 15 years!

Tinubu had removed subsidy when he declared that "Subsidy is gone".... Not sure when his government reinstated the payment of subsidy through the "backdoor".... The damage to the economy has been done already based on his initial declaration on subsidy removal....

Regarding World Bank's "greek loans" and harsh policies, let them continue to grant foreign loans that corrupt politicians will steal.... What is happening now will end when Nigerians fight for their liberation....

Kobojunkie:
1. I am not entirely sure what you say is contradictory or what it is you are arguing. The bank bases its granting of loans on the credit ratings of countries and not all of that jargon you are coming up with there. And if you check the S/P Global ratings of Nigeria, you will find that Nigeria still is OK.
Nigeria Ratings Affirmed At 'B-/B'; Outlook Remains Stable

2. The IBRD Articles of Agreement is the agreement on which the World Bank was established. Look through and find for us what part of the agreement has you insisting that the World Bank has to act as a corruption monitor and nanny to the Nigerian people as well.

3. As we speak, subsidies are still being paid, and Nigeria now pays more than double what it paid under Buhari. So, if Subsidy was in fact done as you claim, how come Nigeria has continued to pay subsidy in all 18 months of this current administration?

If those in government over the years had managed the economy properly instead of looting public funds, I don't think there would be any need to borrow from World Bank/IMF to defend the Naira....

Obaaderemi2:
You are contradicting yourself, Sir.
How has Nigeria been paying subsidies and keeping the naira below #500 in the past if not because of those cheap loans? Did you think they just removed subsidy and devalued the naira without reason? We could no longer service our debts at 97% of revenue.

Naira may soon hit N2000 to $1 and fuel price to cross N1500 per litre by December if these callous policies are sustained by the government, leading to more job losses, higher food prices and drastic drop in government revenue, you acknowledged in your post that this government is already using over 98% of it's revenue to service debt, what do you think will happen in the event the government can no longer generate enough revenue needed as more businesses and foreign investors leave over the harsh economic climate? How will World Bank recoup it's funds if the government can no longer service it's debt....? You see that if the World Bank is serious about Nigeria's corrupt government repaying it's loans, it will need to do more than just lending but to monitor the impact of it's loans which should influence "credit ratings".

You said "...So what makes no sense here is your insistence that Nigeria, a country with a decent enough creditworthiness..." I will ask you again since you claim to possess the correct info, what is Nigeria's World Bank credit ratings?

Kobojunkie:
Why are you hell bent on putting the responsibility to check your government on the World Bank? Did the World Bank ever give you the impression that it can never lend money to corrupt Governments? Did the World Bank ever suggest that it only sends money to countries with pristine records - countries without corruption, human rights violations, etc?

I am really curious to know where you get off holding the World Bank responsible for such things that World Bank was never set up to take responsibility for?!

2. To you, Nigeria may be a thief but to the World Bank, Nigeria is a customer that endeavors to service its loan debt even if with 98% of what its revenue. So what makes no sense here is your insistence that Nigeria, a country with a decent enough creditworthiness should not be given loans it qualifies for.

If truly SAP failed because of IBB's action and several other Nigerian governments overtime have been exposed to be dubious, reckless and corrupt, why will World Bank continue to give them loans.... Does it make sense to you? If you are the owner of World Bank will you continue to waste depositors funds on a customer that you know is a thief and won't pay back? Will you ask such customer to implement and sustain reforms that will encourage them to keep stealing....?

Kobojunkie:
Are you sheeting me or something? 😏😏😏

Na so Babangida take lie to Nigerians say the suffering wey we experience back in the late 80s/early 90s, na SAP wey IMF give cause am. We all bought into the scam hook, line, and sinker, mostly because we did not have any way to access records of Government work at the time. Now we can realize that if SAP had been successfully implemented by Babangida, Nigeria wouldn't be where it is today dealing with fuel Subsidy Scams, deregulation of oil-products pricing issues, fuel subsidy removal, privatization of state-owned businesses, etc. The Nigerian Government has been 419-ing Nigerians for a very long time.

I asked you for a fact based reply and not your opinion...

The truth is that based on current situation, Nigeria can not pay back these loans, you know this. Your contradictory reponse here "....its credit rating qualifies it for loans, so what reason would the World Bank have not to give Nigeria the loans it has so long as Nigeria implements reforms that guarantee the loan would be paid back?" Leads me to another question, what is Nigeria's World Bank credit ratings? If the bank is transparent then I do believe the Nigerian government's bad policies, wastages, looting and corruption over time should influence such credit ratings that the bank will consider....

Again you did not make your point with fact on your second answer regarding the obligations of World Bank as regards the role they play to monitor the impact of their loans. I do believe you can do better in providing facts in your next reply to my post....

I will maintain that the fuel subsidy removal was done prematurely and the naira devaluation (Free Floating) will destroy the economy and plung this country into chaos if no genuine effort is made to reverse it..... Nigeria's import dependent econony can not survive a free floated currency... It is callous for World bank to continue to encourage the implementation of these policies even after seeing adverse effects it is having on Nigeria's economy....

Kobojunkie:
Are you sheeting me or something? 😏😏😏

1. Nigeria goes to the World Bank asking for loans and its credit rating qualifies it for loans, so what reason would the World Bank have not to give Nigeria the loans it has so long as Nigeria implements reforms that guarantee the loan would be paid back?

2. First of all, the World Bank is a Bank and not a Corruption Monitoring Agency or Nigeria's Nanny that it should engage in criticizing corruption which is seen as acceptable among Nigerians as a whole since they rarely lift their hands to protest or fight against the decay. Why you would go around expecting the World Bank to come in to do the job that Nigerians are meant to do is beyond me... insane thinking on your part.

If the World Bank where to make itself a corruption monitoring and critic now for Nigeria, na people like you to stand up condemn the World Bank still sey dem dey too much. 🙄🙄🙄🙄🙄

3. Stop rambling abeg! Una problem too dey dey deep even when the facts are available at your fingertips and free to access.

Misinformation? Hmm I will ask you two questions since you are the one with the correct information,

1.Why has World Bank continued to provide foreign loans to corrupt Nigerian leaders while knowing that such funds will be diverted and wasted?

2. What efforts has World Bank made or is making to criticize the endemic corruption, wasteful spending, misappropriation and looting of their loans by the Nigerian government towards raising awareness as regards government transparency and accountability.

Will wait for your fact based reply since you claim I am spreading misinformation....

Kobojunkie:
This thread is filled with so much misinformation that you wonder why in the information age, Nigerians continue to slurp up propaganda dished out by its very corrupt government to shift blame to third parties whenever possible.

Predicatably wrong in your assertions as usual.... Based on your activities so far in this website I am covinced that you've a personal disdain (hate) for Nigerians, you cherish the crisis they are going through and wish nothing good for them.... Infact it is glaring that you are not a Nigerian but only a paid foreign agent sponsored with the mandate to defend the callous policies of this government on this platform.... Such a cold hearted fellow.... @helinues the consequences you will face as a result of your cruel utterances in support of unjust oppressive policies of the government against Nigerians will not end here....

helinues:
When you people are done with your wailing which is now becoming generational, una go let us know

Yes but they are part of Nigeria's problems by encouraging these bad policies.... they should stop increasing the national debt by providing easy loans to Nigeria's corrupt leaders....

kettykin:
World bank is working with all the countries in the world. Please look elsewhere for your self induced issues

The policies will not work and they know it.... The same way they are releasing news publications hyping their agenda if they truly care, why don't they put the same effort in criticizing the government over wasteful spending, looting and corruption going on.... they are not sincere in helping Nigeria grow... They know the root problems but pretend not to and instead feed the problem by providing foreign loans for the government to waste, increasing Nigeria's debt....

Anither563:
The World Bank is not asking President Tinubu to destroy Nigeria but rather to implement reforms that will help the country and most importantly, the poor Nigerians who will be affected by the subsidy removal.

I did not support Obi in the last election, if you doubt it, you can read my post before the election here https://www.nairaland.com/7578573/take-tinubu-atiku-obi-sowore

Buccalcavity2:
Let me guess, Nigeria will be better only when PO becomes president? Yeye!

Keep deceiving yourself with phantom numbers and improvements.... This was the same way you guys deceived Nigerians over the last 8 years saying that Buhari's "reforms" will turn Nigeria to heaven.... it will make N1 equal $1.... One of the worst thing any one can do to him or herself is to engage in self-deceit... As long as these criminals in power are sharing Nigeria's wealth among themselves, nothing will change for the better, no policy put in place to help Nigerians will succeed....

Buccalcavity2:
Mark my words. Nigeria will keep improving!
Prophet of doom! You have been proven to be in the minority.
Yes there's pain, but the enlightened ones are seeing improvement in the economic framework. Nigeria's recent Eurobond was oversubscribed. That's market response not even world bank comment!
Seek the peace of "Nigeria"; those that want it will prosper!

You will eat your words when these policies finally plunge Nigeria into chaos as no one will be spared including you….

Buccalcavity2:
Joke is on you.
We are tired to complainants and complaints. We seek solution, alternative solutions and implementers.
Not Association of borrowers to keep naira value!

The World Bank is not sincere in helping Nigeria’s economy as they pretend not to know the real issues affecting the country which is bad leadership, bad governance, looting and corruption….

Salewa97:
The World Bank should also advise the Nigerian about the importance of saving

I just read the post on Nairaland home page titled “Nigeria Must Sustain 15 Years Of Reforms To Ensure Impact — World Bank”

After reading this post, I am forced to conclude that World bank is partly behind the crisis that Nigerians are going through as it will not be surprising if they are the mastermind behind it….

In 2023 when Tinubu forcefully removed fuel subsidy and floated the Naira, World bank made a post on their blog website praising Tinubu, here is an excerpt below:

…. With the petrol subsidy removal, the government is projected to achieve fiscal savings of approximately 2 trillion naira in 2023, equivalent to 0.9% of GDP. These savings are expected to reach over 11 trillion naira by the end of 2025. However, compensating transfers will be essential to help shield the most vulnerable Nigerian households from the initial price impacts of the subsidy reform, as without compensation, many households could be pushed into poverty by higher petrol prices and have to resort to coping mechanisms with long-term adverse consequences. Similarly, the move to harmonize the FX windows will help to improve the efficiency of the FX market, unlock private investment, and reduce inflationary pressures, but it is crucial to complete this important reform by removing FX restrictions, clearly communicating how the new FX regime will operate, and implementing supportive monetary and fiscal policies.

“The current move by the Government to implement long-anticipated reforms such as the removal of costly and opaque petrol subsidy, and efforts to harmonize the multiple FX windows, are timely and crucial to set Nigeria on the path of economic growth. These reforms should be accompanied by compensatory actions to mitigate the short-term impact on the poor,” said Shubham Chaudhuri, World Bank Country Director for Nigeria. “Nigeria should now seize the opportunity to implement a robust, large-scale cash transfer program to provide quick relief to the poor, near poor, as well as low-income households which are most directly affected by higher petrol prices, as part of a broader compact to redirect scarce fiscal resources towards development priorities”…..

World Bank pretends to be ignorant to the kind of corrupt callous people running Nigeria’s government…. Even if these reforms are “good” as they say (Which I doubt), the World Bank executives will not claim that they don’t know that these “economic reforms” they are proposing will fail. Nigerian leaders lack the financial discipline to stick to frugal fiscal practices when it comes to public spending and cutting costs. Demanding for the corrupt government to sustain these draconian policies that has so far plunged the country’s economy into recession, hyperinflation that has skyrocketed food prices and unemployment is an indication that these World Bank executives are callous, heartless and don’t mean well for Nigerians. I will ask again, can any of these World Bank executives push these same harsh policies of subsidies removal and currency devaluation (Free Floating) in their respective countries? The answer is No…. If they were sincere in helping Nigeria’s economy to grow, why are they not condemning the massive corruption, misappropriation and looting going on within Tinubu’s government? Why are they still giving loans to criminals (Nigerian politicians) they know that such funds won’t be judiciously managed or used for what it is meant for?

Nigeria does not possess the critical infrastructural capacity, the enabling environment to encourage massive production and manufacturing which is key. Also, the investors these policies are meant to attract, can not invest due to the fact that the government has failed woefully and continues to fail in tackling Nigeria’s high rate of insecurity. I ask once more, why is World Bank bent on destroying Nigeria’s economy further knowing fully well that all these issues need to be tackled if any country can survive the harsh policies of removing subsidies and currency free floating? It is unfortunate that Tinubu and other callous politicians running the government have turned themselves to puppets in the hands of World Bank because of easy access to foreign loans, they have ganged up to ensure that these policies are maintained to frustrate and impoverish Nigerians…. When the system finally collapses totally and Nigerians are forced to take to the streets in anger, Tinubu should know that he will not be spared, Akpabio and other callous politicians responsible for this mess should also be mindful of the consequences that will consume them as they will not also be spared in the carnage that will erupt over their heartless actions and policies….

Yes Obi's presidency will be weak and too similar to an Atiku presidency he won't be courageous to make critical reforms.... This is one of the reasons why I supported Sowore in the last presidential election....

Jlow2:
Very true if you cannot defend the votes why then why then, I support Kenneth, why it was clear you te rigged out instead of asking your supporters to protest you were asking for peace, who peace help, it means if you re voted as president you will be weak

I did not say it was perfect under Jonathan I specifically answered your question regarding economic growth....

ALTERNATEID:
Since things were working perfectly under Jonathan, why did he attempt to remove PMS subsidy in 2012? Why did he remove subsidy from Kerosene and Diesel? Make it make sense, buddy.

Have we been able to expand the economy by spending all our forex earnings plus loans to subsidize PMS and defend the naira in the last 30 years or so?

YES We have been able to expand the economy by subsidizing PMS and defending the naira especially during Jonathan's term....

@ALTERNATEID stop defending nonsense.... You can not achieve stability by free floating your currency, you can not develop the infrastructure, and the enabling production environment when funds are been looted by a highly corrupt dishonest government..... You can not attract foreign investors to invest when there is high rate of insecurity....

ALTERNATEID:
Have we been able to expand the economy by spending all our forex earnings plus loans to subsidize PMS and defend the naira in the last 30 years or so? That’s definitely not the way to go. It only leads to debt and economic stagnation. That’s why we are where we are today.

First, we need stability. Once we stop spending on subsidies for a sustained period of time, the gains will start accumulating and we can spend on areas of economic development. Infrastructure, health, tech, start ups, msmes, education, agriculture, increased oil production etc.

It is going to take a bit of time. There is no shortcut to it. Even foreign investors will flood in once they see we are finally serious about getting our macro economic priorities right.

OP many of those giving excuses for the failures of this government and supporting the floating the naira on this thread are paid APC agents, you can not reason with them because they will always spin the narrative to defend Tinubu's callous policies..... Floating the naira remains one of the worst policies that Tinubu unleashed on Nigerians. It has destroyed Nigeria's economy and there is no way out unless a revolution that will sweep away Tinubu and all callous politicians killing the country from power..... Naira needs to be pegged at N400 to $1 to reverse the downward spiral and boost the economy.... Imagine borrowing N15 trillion to waste on coastal highway when you've a weak economy with a worthless currency.... That is the high of misgovernance...

It is self-deceit to think that you can easily vote out callous hardened people that have the INEC, police and judiciary in their pockets. I do not intend to abuse you if you see it that way but only telling you the truth....

Alsenora:
Take it or leave it. The solution of an ailing economy will not come from a rosy path to recovery as generally held without a semblance of current reality. Learn to respect divergent views of others while you can engage them without abuse. Have a great day.

Keep deceiving yourself that your vote will count in 2027.... I hope you wake up to see how hopeless the situation is for Nigerians.... Many of these people in power including Tinubu are lawless....

Alsenora:
By 2027 vote in your preferred candidate that will reduce the price to your preference while the margin will be paid as subsidy through loans....I guess that is the solution people want

You are still living in denial trying to reason with hardened heartless callous politicians.... Fuel price is about to go up again.... Read https://www.vanguardngr.com/2024/10/n1-030-pms-petrol-price-may-go-up-again-experts-warn/

Alsenora:
'Another nonesense talk' you say. You guys are so uncouth in utterance and seem eager to want others to be equally stupid in your chosen way reasoning things out. Go ahead with you herd mentality and goodluck to you...

It is glaring that Tinubu knows exactly what he doing to destroy Nigeria's economy.... he is heartless, malicious and deceptive.... For knowing the right approach in handling the situation but choosing to sabotage and destroy Nigeria's economy the way he removed subsidy and implementing other harsh policies shows he has no conscience.... It does not matter whether he is a western foreign powers USA/France puppet or an IMF/World bank agent, Tinubu will not escape the consequences of what he has done to Nigerians....

Keep quoting mods when you are the one breaking the rules by using multiple accounts to generate fake likes to abuse the platform.... It is you that should be banned....

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