₦airaland Forum

madridsta007:
Your anger seem to be on "GEJ", hence I included Obj's name in my earlier treatise. Of course you ignored Obj's name, as expected. The hate you guys have for GEJ, it is only machine learning that can analyse it -it is data-profound.

Poverty and all poverty indices in the country has worsened since Buhari came in. Let me give it to Buhari; at least he was honest enough to admit that he does not know anything on the economy. However, good leadership does not mean that you should know everything. It means that you should delegate appropriately, to be best of the bests. Unfortunately, he has not done that. Unfortunately, he is a terrible ruler. Of course, if the Buhari apologists had read a bit of history, they will understand that this is not surprising.

The subject matter of the video was on the general attitude of Nigerians. I won't comment any further with you on the subject of GEJ & PMB.

Hedonini:
Shut you, you disgusting pig. At no time in Nigeria's chequered history have things been this bad. This is an objective fact. You're here making excuses for the devil called Buhari. God punish you.

Thank you for your civility.

madridsta007:
Can’t you guys just be humble for once (I mean, t won’t kill you) and concede and agree that Buhari has been, evidently, a failure as predicted? Does humility kill people? GEJ this, GEJ that. With Obj you had a government that got debt relief in billions of pounds. With GEJ you had a government whose economic drive propelled Nigeria to the too 3 fastest growing economy in the world. With an illiterate Buhari you have an outcome which is only normal with illiteracy— can’t you guys just get this very simple fact? Will it kill you?

I'm not interested in any prejudiced debate with you or taking sides on which president is better or worse. But if you have any modicum of understanding of macroeconomics, you'd understand that the GDP under GEJ was rebased. Add that to the fact that the government enjoyed unprecedented high oil prices. There's nothing significant that the government of GEJ did to improve the economy.

9jahotblog:
yes, I'm fully support too. [s]things are just getting bad in buhari change government[/s].

People are talking about the general state of affairs which has progressively gotten worse since independence and here you are seeing it as an opportunity to display your prejudice. There is a bigger societal problem and this has nothing to do with any president. The president is only a reflection of what is wrong with the larger society...and that includes your beloved GEJ.
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Is it a coincidence that even though we've been changing presidents and governors (from one religion to another...from one geopolitical zone to the another...from one party to another), yet things are not getting any better? Go figure!

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Very funny! Trying to diminish the Emirate just to score cheap political point. Has he thought about the implications of this long after himself and SLS are no longer occupying those seats? This is how we progressively destroy our institutions just to achieve selfish & political gains. SMH!

Princedapace:
Lol, the guy actually has a point. Everyone is now using Ronaldo and messi as measurement rating against other players.

Well, good and at the same time bad. He has a point though.

Surely, he makes a very valid point. Football is not only about scoring goals. There are other players who are simply brilliant in their roles... Kante, Busquet, VVD, etc. I'm happy that VVD won the PFA player of the year this time in the EPL.

Many will not read the post to understand the context of what he said. They'll just read the stupid sensational headline and start posting thrash in the comments.

stephleena:
Moved past what?..karma gives no signs of her coming, she needs no invitation to grace ur bed..when u think you've moved on,she strikes..
He's not God,but he's highly favored a clear definition of "hold your peace and I'll fight for u'..

Saraki,Atiku,Dino,Kwakwasanso,and the latest one Sanusi, Can explain better. Even if na coincidence,it played out well and really fast..

And stop stalking me all over Nairaland.. I'm allergic to asslickers..and help me say hello to that ex,the very minute he left i got another.

Just out of sheer curiosity, if God so loves & favours your hero, how come He didn't help him win the election.
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Tbh, it's plain idiocy to connect every event to GEJ. Good things and bad things will continue to happen to people in Nigeria and they have ABSOLUTELY nothing to do with GEJ. Grow Up!
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On Topic: my view is that if this was well thought out for the overall benefit of the Kano people, then it's cool. But if the Emirate is simply balkanized to spite SLS, then it goes to show how we have progressively destroyed our institutions in this country for selfish & political gain.

So, the Emirate (an institution) has been balkanized because of the current Emir. What happens when Sanusi leaves? This may seem to be all about Sanusi but it's just plain idiocy to undermine/water down such institution to score cheap political point.

ProsperChild:
Senator Aliyu Sabi Abdullahi (Niger North), presenting a motion on the development, noted that issuance of the new guidelines is prompted by threats by international financial watchdogs to sanction Nigeria because of financial abuse.

He recalled that due to lack of autonomous status for the NFIU before and the alleged interferences with its operations by the EFCC, the Egmont Group had suspended Nigeria’s membership of the body in February 2017.

The Egmont Group is a global body of 155 financial intelligence units across the world which facilitates the exchange of financial intelligence, expertise and capability.

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As commendable as this new policy guidelines may be, my question is - Did we have to wait for the Oyibos to threaten us with sanctions before we do what we know to be good for us? Truly, maybe I now have to admit that Africa is not capable of governing itself.

Not sure it has much to do with Kwankaso or Tambuwal. I think people usually have more interest in local politics than Federal since the winners are most likely to impact them positively than the president. Even in my state where Atiku won convincingly with around +350k votes, the PDP governor eventually won with +600k votes. How do you now explain the difference in turnout?

phase1:
He will be Senate president if Saraki fails to return.

God bless President Atiku!

That would easily have been the case, except that the VP would already have come from his (SE) zone.

Tetehjewels:
Oyo State, Kajola LGA, Ward 10, PU 010

APC 153
PDP 65

Is it a coincidence that 98% of the results you're posting happen to have APC winning in those PUs?

Printerscanner:
Osinbajo/El-Rufai: 2023 to 2031

El-Rufai/Fayemi : 2031 to 2039

You've shared the top 2 jobs on this country between the North-West and South-west for the next 20 years. How nice of you.

DEHVEHLOP:
I got this on one Nairalander's thread.

1 big Onion

Big cut of watermelon

One or two lemon (liquid content only)

Few cloves of garlic

Moderate ginger

Pure honey.

Blend everything together and allow for like 30 minutes before sieving.

Pour the sieved solution into a cup of pure natural honey. Mix and take two spoonfuls a day.

Honestly may God bless the guy who posted it then.

It worked fantastically well for me

Hey bro, how long did you use this to start seeing positive effect?

EternalTruths:
There is something you guys from the West don't understand about revenue which makes you guys keep over emphasizing on tax.


The real revenue of every nation is the amount of foreign currencies it has and do you know why.?


It is because no nation has all it takes to survive and therefore must import if her citizens want to live a modernized life Eg Biafran pounds was useless because it could not be used outside the shores of Biafra.

When you collect tax, the tax is denominated in naira which is useless outside the shores of Nigeria. Since the naira is useless outside the shores of Nigeria and Nigerians need a lot of imported stuffs, the demand for dollars and other foreign currencies escalate and that is why, anytime our dollar inflow falls, you notice how the economy nosedive due to inflation caused by a drowning naira.

Take Note:

If Oil & Gas loses value, the economy will crash because we won't have dollars to import things needed to sustain our modernized life.




You and Rossikki Should Not Forget This Lesson Below:


A nation's real revenue is not in her local currency but in foreign currencies due to the fact that no nation has all the materials needed to sustain a modern civilization and has to import those things she does not have within her borders.





In Summary

Nigeria must develop other sectors that can help increase inflow of foreign currencies if the Government wants to be able to achieve a lot of things that will benefit the citizens.

Your point is correct about exports and the ability to facilitate international trade. However, the original subject of the thread wasn't reviewing the entire economy but government revenue. Of course, the more goods/services an economy exports, the more money the businesses and citizens make which means more taxable revenue for government.

EternalTruths:
Our economy is not diversified as you portray it to be.


Example:

Manufacturing sector is very low key and that is why all our engineering/technological products are all imported.

Agriculture sector is still subsistence and that is why we import rice despite having the capacity to export rice and other other products.





When we say diversify the economy, it means developing other sources of generating dollars outside Oil & Gas.


Nigeria should be at the stage of exporting Non Oil & Gas products in order to generate more dollars and that is what Rossikki means by diversifying the economy.

I agree with you that other selectors (particularly MANUFACTURING) are not well developed. My point was that the overall economy (wrt GDP) is not as dependent on O&G as much as the way government revenue is dependent. The services (banking, advertising, etc) sector is doing fairly ok. Agriculture is picking up, the Telecoms sector is growing, etc.
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Yes, something should be done quickly about manufacturing as that holds the key to reducing unemployment and increasing export. But even if this sector grows and there's still corruption, then the govt might still not get optimal revenue from it. The reason why the govt gets so much from O&G is because of the unique nature of the JV arrangement. If the government were just depending on taxes....

Rossikki:
Why not? It's not an insulting term.



Our chief earner by far is oil and gas. The money we earn from oil BEFORE it gets to govt is easily knowable by looking at oil prices and number of barrels exported by Nigeria per annum. The difference between that amount and the govt's declared earnings is negligible.



You're still arguing over CRUMBS. Do you know that South Africa's automative industry exports vehicles to the tune of 12 billion USD per annum? That is roughly equal to Nigeria's total annual earnings from oil.

That is just ONE industry in SA. And you're still here talking about NNPC and Customs. What is the matter with you people?



Definitely taxation must be more effective. But then again, the people hardly earn anything, so what is there to tax? Whatever tax obligations by the likes of JAMB and FRSC which are not being met, are in real terms, negligible. I would concede however that private companies are not as diligently taxed as they ought to be, and that that is costing us a few billion USD in annual income.



The reason they remit huge amounts to their govts is PRIMARILY because those countries produce and export more oil and gas than Nigeria. This they can do because they have larger oil and gas reserves than Nigeria.

You're talking of NNPC remitting similar amounts as Saudi Aramco. That is sheer self-delusion. Saudi's oil reserves are 266 billion barrels. Nigeria's oil reserves are 37 billion barrels.

Saudi Arabia exports 8 million barrels a day. Nigeria exports 2 million barrels a day.

https://en.wikipedia.org/wiki/List_of_countries_by_oil_exports

Whether you bundle or unbundle NNPC a hundred times over, it will never remit anything close to what Saudi Aramco remits to the Saudi regime.

Until Nigerians, including yourself, de-emphasise corruption in favour of Economic Policy, specifically diversification, you'll keep running round in circles. That annual GDP we have of 22 billion USD, even if you added another 22 billion USD on top of it, being extra income from the leakages you claim, it would still be GROSSLY INSUFFICIENT for Nigeria. It would make our annual budget only roughly equal to ANGOLA's. https://en.wikipedia.org/wiki/List_of_countries_by_government_budget

We must diversify. Stop running away from that obligation. The problem is that we are addicted to BLAMING. Probably because it is much easier, and much more emotionally satisfying, than THINKING and BRAINSTORMING. That is why even when shown all the evidence to the contrary, you still cannot resist blaming 'corruption' for Nigeria's problems. Get out of the habit. We need to challenge our govt to DIVERSIFY as its prime obligation.

You are a very arrogant person who thinks his POV is the only valid one. You could not even hold yourself from still making insulting remarks. Apparently, you think you've figured the whole problem out and any other opinion is bollocks.
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You talk about South Africa's automative industry exports being $12b as if that money is government money. Was the original subject not about govt revenue. How much profit does the industry make and how much of that do they pay as taxes? I thought your smart ass was going to tell me how much the SA govt gets as revenue from the industry.
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You keep making so much noise about diversifying the economy. Are you not aware that our economy is well diversified? The problem is that government revenue is not diversified but oil dependent. Go and dissect the sectors that make up our GDP and you'll see a diversified economy. Oil & Gas probably is less than 25% of GDP. Unfortunately, the govt doesn't earn as much revenue from the other sectors and has to depend largely on the O&G sector for 75%+ of its revenue.
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BTW, you said our GDP is $22Bn. Well, apparently you are not aware that our GDP is northwards of $350. In fact, was as high as $500Bn at some point.
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You quoted my comment on Saudi Aramco vs NNPC to mean that I was suggesting that NNPC could generate and remit in ABSOLUTE terms what Aramco does. Your smart-ass would've known that I was talking about RELATIVE terms. Somehow, you cleverly dodged NY PETROBRAS example, since you are probably aware that Brazil produces about the same amount of oil as Nigeria yet PETROBRAS generates over 10x the revenue that your corrupt NNPC does.
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Once again, focus on diversifying government revenue and stop talking about diversifying the economy. Stop the know-it-all attitude...it just shows ignorance.

Ovamboland:
What will our wage bill be if minimum wage becomes 100,000?

Current FG wage bill is 1.8 trillion, 100k is like multiply wages by 5
New wage bill is 9 trillion = 1.8 x 5
Budget for next year 8.9 trillion less than new wage by 100Bn naira, they have not paid for paper, equipment, furniture, power, maintenance of the government offices.
Those of us not in government should expect no more repairs to roads, canals, drainage, sweeping of public roads, financing of public schools.

Above is basic calculation that Sowore did not do before promising 100k, and immediately he said that without talking of solid plans to increase revenue i concluded he was just kidding and can achieve nothing if given the opportunity

Very well said. BTW, by the time the statutory transfers (INEC, NASS, JUDICIARY, etc) are deducted, as well as provision for debt (loan) repayment, the FG is probably left with just over N7t to plan for its recurrent & capital expenditures. If Sowore did say that (promise of N100k min wage), then that was a very ignorant comment.

obasiken:
I like your approach of thinking outside the box.

I remember Godswill akpabio as a governor, I can say he embezzled money but even a blind man can see his good works in Akwa ibom state. He worked hard to increase the revenue of the state, he fought for oil wells that were previously under cross river state to be returned to Akwa ibom, this increased the state allocation and he used the money to do quality work which still stand.

But tell me how we can achieve this when we have president who does not know how to diversify or grow an economy. All he know is to fight corruption.

The governors before AKPABIO did most of the fight. Akpan Isemin fought for the abrogation of the offshore/onshore oil dichotomy. Victor Attah fought for the 13% derivation. Akpabio played his part by fighting for the oil wells. But he was most fortunate to have been a governor during the peak of oil prices. That helped provide the state with so much revenue, which he used for his signature projects and also embezzled. Unfortunately, despite those huge revenues, he still plunged the state into huge debts for which the repayment is affecting the performance of the incumbent.

Rossikki:
This is a misguided view in my opinion. There is no secret about how much Nigeria earns. She exports x million barrels of oil per day, and at x price for Bonny Light crude oil on the international market, she earns X amount, which roughly adds up to the annual earnings published. You might quibble over two billion dollars here or three billion dollars there missing from NNPC accounts, but these are tiny amounts in the grand scheme of things. If we diversified away from oil in a meaningful way, those missing monies would hardly be noticed, because in reality, they are peanuts. Do you think they don't steal money in America, France, UK etc? Of course they do. But because they earn so much damn money, the corruption can be hushed over and ignored, once a few people are paid up. But in Nigeria, we are easily hampered by ''missing NNPC money'' because we are sooooo dependent on that money. It's all we have. We need to diversify away from oil.

Well, you didn't need to use the word misguided while making your point.
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In any case, I completely agree with you about diversifying sources of govt earnings. I would even go as far as restructuring our entire govt setup so as to give states more powers & responsibilities to make them more productive.
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Having said that, I am still of the view that, with our current setup, the country should be earning much more than it does now but not for corruption. I'm not focusing on stealing the money after it has been officially delivered to govt, I'm talking about the stealing that happens before the money even gets to govt.
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Why does every immigration & customs officer wants to work at our land borders? Do you have any idea what goes at our ports? I don't even want to mention NNPC. Is the FIRS remitting as much as it should (I have friends who work there so I have an idea)? Are citizens paying as much tax as they should? Certain agencies (like FRSC, JAMB, NCAA, etc) do they remit sufficiently to govt? But not for corruption, NNPC should be unbundled and made function in the same model as PETROBRAS, PETRONAS, SAUIDI ARAMCO, etc. These govt oil corporations in these countries remit huge amounts to govt unlike NNPC.

Very interesting perspective. I have had similar discussion with my friends. Just compare the budget per capita of countries and you'll see how pathetic the Nigerian situation is. $22Bn / 190m = $115. Compare this to South Africa $103Bn / 56m = $1840. So, as one will observe, SA spends 10x more than Nigeria for each citizen per year....meaning they can better provide health care, quality education, infrastructure, etc than Nigeria. The Nigerian deficit continue to compound every year.
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Think about family A that is just the man, wife & 3 kids, but they earn N10m pa. Contrast this with family B with man, 3 wives and 14 kids, yet their total income is N2m pa. Do I need to say more?
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As one might observe, it looks like we are still hopeless even with zero corruption. However, one could argue that our low earnings is itself a result of corruption. Most of the money that should get to govt coffers usually gets looted. The oil sector, Nigerian Customs, NPA, NNPC, ETC should all be generating more revenue to govt, yet what you see is that the bosses of those agencies earn far more than what their agencies remit to govt. Corruption in Nigeria is not limited to those of elected officials.

Had this same act happened in some other part of the country, the entire narrative on this thread would've been completely different.

modath:
This Tambuwal faux pas is the biggest political blunder known to mankind, nothing explains it, nothing can justify it.

My people have a saying " Home is the resting place after a farming season/sojourn".... No matter how alluring or enchanting it is outside, when the sun sets, it's to return home... Tambuwal totally forgot how the "homestead" really /was when he was allowing Wike & co gass up his head that they have a solution to the chronic PDP problem called Hurricane Buhari!

Saraki that he helped secured support from NASS/PDP in his SP coup, has shown him his true colour in less than a few weeks.... Kwankwanso has seen the foolishness in his Ill conceived moves & wishes he too could backtrack....


Where is that R.Kelly track by way? It fits right here..

Chai!

If I could turn back the hands of time....

As a people, we lack dignity and principles. And this is just not about politicians, it is a pervasive problem across all strata of society. Once you become a politician and show these negative traits, people erroneously think it's because you are a politician. Wrong! it's always been there in you, politics only made it obvious.
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This idea of decamping and then suddenly speaking negatively about your old party and glowingly about your new party is just ridiculous. This is not about only Akpabio, but all of them...Atiku, FFK, Saraki, El Rufai, etc.
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Atiku really amazes me. Dude has left the PDP twice, calling the party all manner of unprintable names. But yet has gone back twice, praising the party to high heavens.
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Zero principles all over!

resurgent2019:
You should know Osinbajo cannot act without Buhari's approval na......i tire for una oo

Dude has been doing shit since without consequences. Even had the balls to give negative security clearance to the president's nominee. He wrote to the Senate instead of writing to the president to inform him of any issues with Magu.
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IGP has also been reported to flount the president's instruction to relocate to Benue. All these without consequences.

Don't know if it's true or not, but the speculation is that he acted a script to whip up public sentiments ifo Saraki. Wouldn't surprise me, though, after he tried to collude with the Senate to scuttle Magu clearance.
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Only question is, if PMB was on seat, would he have had the balls to sack Daura?

Don't know if it's true or not, but the speculation is that he acted a script to whip up public sentiments ifo Saraki. Wouldn't surprise me, though, after he tried to collude with the Senate to scuttle Magu clearance.
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Only question is, if PMB was on seat, would he have had the balls to sack Daura?

FarahAideed:
Are they saying Daura acted on his own ? Hahahahahah.....these people are only fooling them selves

Don't know if it's true or not, but the speculation is that he acted a script to whip up sentiments ifo Saraki. Wouldn't surprise me, though, after he tried to collude with the Senate to scuttle Magu clearance.

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Twitter definitely has more rational & objective members than NL.
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On Topic: We are just grossly shameless as a people. This is not about politicians, it is about the moral standard of society. Nigerians are just so brazenly morally deficient.