₦airaland Forum

imbless:
Your ignominy is second to none, I presented facts in my comment, but you like other demented bots on nairaland chose to insult your cone headed father!! Was it not Tinubu that said he would continue from where Buhari stopped? Explain to me since you said you are good with economics how Nigerians are paying 3X for fuel during the regime of BAT the self acclaimed Economist, yet there is long queue in filling station because of fuel scarcity?

You do not know what printing of money is. Go to school or watch a YouTube video or ask someone who actually understands the subject.

You are clearly an imbec1le and this subject is above your pay grade. This is the problem with democracy. Even eediots and ignoramuses get to vote when clearly they don’t understand the economy.

Stop mentioning me or quoting me I will no longer respond. Like I said how the economy works is clearly above your intellect and understanding.

imbless:
You are really the uninformed one here who would butt leak this inept government!! So [b]BAT ordered the printing of more naira note knowing fully well that doing that would devalue the naira the more, cause more inflation and throwing more people into poverty, why is that? [/b]There were too many naira note in circulation during buhari's regime and he BAT even encouraged buhari to print more after the COVID. So FG was borrowing to services loans, yet BAT went on the borrowing and spending spree, splashing billions on cars for lawmakers, billions on VP residence renovation, billions on jets and yachts and other unnecessary liabilities? They borrowed funds with consultation fee as high as 40% , yet they use the borrowed funds to finance their luxury, while taxing the masses to death!

Continue to butt leak this incompetent and wicked government.

like I said you are ignorant but you are clearly also an eeediot and you have just proven your ignorance. you clearly also do not know how the economy works.

Was it Tinubu that printed money? if you want to display your ignorance, please feel free but dont mention me or quote me to show your education is worthless.

imbless:
Tinubu partially removed fuel subsidy, FG is still paying for subsidy, also removing fuel subsidy and devaluing your currency has been proven to be counter productive by the results thus far, under Tinubu 1yr regime, Nigerian are paying more than 3x for fuel than what it was been sold during buhari's regime, yet there is still fuel scarcity!

All you people complaining about subsidy removal and floating the Naira, it is as if you dont know the mess we were in on May 29? There was no money left in the treasury! it was so bad we were borrowing to pay loans! we were prinitng money to appear to be solvent, we were seeling crude for future years to get money to spend today. Do you understand the whole ways and means saga?

Are you people educated at all?

if you have a car and you lose your job, and nobody is willing to to lend you money any more,will you not sell the car to feed your children?

you people are talking as if there was/is money in the treasury. there was even no money to buy the petrol talk less of subsidy...jesus how uninformed and ignorant are our people?


Again you cannot spend what you do not have. there was no money in the treasury as at May 29. Zero!!!!

vibratingpenis:
So where is the money use for private jet when Nigeria already have 8, you said it will be sold, why Not sell them first and then use the money to fund the new jet, the billions used to renovate Vp residence, was he living under the bridge before? The Money lavished on cars for senators and HOA, if you want to deceived yourself you are free but to Deceive others na wheRe problems dey start, hope you now understand?

Your post is redundant. I have already said that it is a grave error to ask the public to tighten their belts when they see the government not tightening theirs. It is bad optics. i dont know why you needed to quote me to repeat what i already said. you are not saying anything new or adding any value to the subject. if you want to vent, you can vent without disturbing my mention.

Telltruth123:
If I am the president of Nigeria, I will first study the accounts of the federation, invite experts to work out how each ministry can be successful using professors in universities, what will be the outcome of each policy made on common man on the street.
Tinubu has not step in his office, he announced subsidy is gone on his inauguration day, it is very bad.

if you consult professors you will fail. they are the worst economic advisers. All they know is textbook IMF economics.

godwinngbede:
Anyone who studies accounting is typically well-versed in resource management, so it is puzzling that President Tinubu's resource management skills seem to be lacking. It raises questions about the legitimacy of his qualifications, prompting speculation that he may have forged his certificate.

Oga to manage a resource, you must first have the resource. You can’t manage nothing.

Where is the resource aka the money?

Our crude production is down and the little we are producing the Previous government has already collected money for it in advance. The little money we have to spend now is from 3 main sources

Subsidy removal
Floating the exchange rate
Loans.

Your governors have more money as a result of 1 and 2. Ask them what are they doing with it? Not everything Tinubu!!

Like I have said many times the only finger you can point at the Tinubu government is asking the country to tighten their belt while govt officials carry on as usual with conspicuous consumption at public expense.

Ikaeniyan0:
The Governor is fully in support

Opportunity to award inflated contracts for replacement. Corrupt officials you are protesting against are happy, contractor is happy, supplier is happy, looter is happy. Everybody in the replacement value chain is happy except the fools who called for protest because there is less money for the things they supposedly called the protest against.

When they say black people are poor because they have no sense this is why!

press9jatv:
Credit: @alx

like i said during the Nigerian elections...election rally crowds are meaningless. Everybody has crowds...even the man that came 3rd. that said i hope Trump wins.

payaseriy:
Money is working

If na money you too go and collect your own

Tinubu’s economic reforms are not just necessary but existential. His no 1 problem and error was asking the rest of the country to tighten their belts while the government officials continue with conspicuous largesse. This have given opportunity to the Obidients to as an opportunity for anarchy. Obidients are not interested in good government, they want to overthrow the government and have wanted to since they lost the elections.

SisterJolade:
In a saner clime, only this is enough to get the incompetent IGP fired.

Why? The court has already restricted any protests to 2 venues. Any protests outside those are illegal. Same thing the police is saying.

https://www.nairaland.com/8170121/court-restricts-protests-lagos-freedom

So all this while they had the power to cancel sit at home?

davodyguy:
I can see a lot of ignorance.

Those who can read are blaming NNPCL and FG

Dangote is a business man and he has no intention of subsidizing anything or helping anyone.

Has he ever sold Cement cheaper than Large and BUA?

That Monopoly thing is real. NNPCL knows what they're saying about Dangote.

You are the one who is ignorant. The benefit of the Dangote refinery was never about him subsidizing petrol or there being no subsidy at the current pump price, the point was about saving foreign exchange and transportation costs.

The idea is that Dangote will save foreign exchange which will eventually strengthen the Naira which may bring down the pump price of petrol but will certainly reduce the subsidy component. That only the NNPC can buy Dangote petrol is stating the obvious, is anybody else but NNPC importing petrol?

Dangote will export petroleum products including petrol and this will bring more forex into Nigeria. NNPC will stop using our forex to import petrol, this will reduce pressure on the Naira. Dangote estimates $26b worth of sales a year. The net forex gain to Nigeria should be at minimum of $10, that will result in significant upward pressure on the Naira which will result in less subsidy payment by the govt even if the pump price does not go down. Plus the transport cost component of petrol price will be less.

Even if Dangote is importing all his crude and NNPC stops buying imported petrol, it is good for a Nigeria. Dangote does not have to use a single barrel of Nigerian crude or Nigerian forex to benefit the country. He imports his crude (on credit ) refines and sells his products, more than half of what he refines will be sold abroad in forex so by the time he pays for the crude he has made more forex without touching a single dollar of our reserves. So that only NNPC can buy from him for now is irrelevant.

EdgeUp:
This country is a mess! Is there one thing that is functioning well in this country?

NNPC has monopoly of importing petroleum products into the country and they cant seem to be able to even do that simple job well.
Yet, they have a problem with a local producer that will eliminate the logistical problem of the system

Yeye dey smell

Every set of Nigerians in most fields but in particular the public sector, that replaced those that precedes them tend to be worse. From military to academia to police to civil service to govt corporations.

Love800:
So which law are we to follow. Old or new?

common sense would dictate an amendment to an old law means the old law is no longer in force. However the only thing that has changed in the new law is the amount of the minimum wage and the period of review, everything else in the old law is still intact including the exclusion of people employing less than 25 workers, part time workers and agric workers.

lexy2014:
How does the first line of your post answer these questions?

How is she "facially unattractive"?

What and what makes a woman "facially unattractive"?

You didn't state how she is no longer ugly.

Continue asking stoopid questions. Good men run away from serious relationships with women like you. Women like you don’t have peaceful homes if they ma age to find a fool to marry.

lexy2014:
How is she "facially unattractive"?

What and what makes a woman "facially unattractive"?

You didn't state how she is no longer ugly.

Focus on the 1st line of my post.

lexy2014:
How was she ugly?

How is she no longer ugly?

You this eeediot again?

She is still facially unattractive (ugly) but she is now focusing on her attractive physical features. She would be better served if she had focused on building the most attractive of qualities…..character and personality.

The world is full of attractive side chicks and baby mamas or single women without husbands, they are 2 a penny. The world lacks women with good character.

Sheistoopretty:
No one is ugly..

That’s the lie women are told as girls are that leads to entitlement, low self esteem and shattered dreams. Better to know and embrace your weaknesses early so you can focus on your strengths.

If she were not ugly shy is she not showing her face and focusing on her ass? She is still ugly but she has a big ass for those who like big asses!

Unfortunately a lot of women are brainwashed into thinking they are beautiful when they are not, special when they are not, pretty when they are not or queens when they are not. So they end up as baby mamas side chicks because their delusions do not match their realities. Men on the other hand are programmed to understand and overcome their deficiencies or weaknesses from an early age.

DMerciful:
Nothing will stop the protest even if he doubles their salaries

We know your intent and those of your cotravellers is not progress or the welfare of the people but to see your people in power and the bitterness that they are not. It has been your MO since 1960.

helinues:
Bitter about this news?

They are always bitter when they do t get the chance to play second fiddle at the Centre. Check out the history of Nigeria, there has never been peace in a civilian govt when they are not junior partners at the Centre. Only the military put them in check.

Dreal1247:
This sounds strange as there was never any report or news of him being sick before this time.

does/did he look healthy to you?

CyrusVI:


The Protest isnt even the issue but it sounds like there is an ulterior motive behind it

Seen countless Twitter spaces where some people were spitting venom and threatening to walk through fire like Shadrack

If thats the case, then Is support the military in this, cause the Army stays back and we continue to retaliate every hit, na that Anarchy go later happen

God bless the NA

It’s the same set of people and their descendants that have been throwing the country into one crisis after the other since 1966 whenever they do not get their way. Whenever there is peace in the country, it’s either the military was in power of they felt they were in power even if as junior partners. There has never been a civilian regime in the history of this country where they were not in alliance at the center and there has been peace.

SmartPolician:
House of Reps is already amending that law to allow only companies with about 25 employees and above to comply with that minimum wage regulation.

Well, I don't think it's a good move though because there are companies that don't need up to 25 employees to make millions of naira every month.

Meanwhile, Nigeria doesn't need two houses - House of Reps and Senate. They are just creating confusion.

Your statement is false because there is nothing to amend. The previous law already exempts employers with under 25 employees. The new 2024 law is merely an amendment to the 2019 law and it only amends 2 sections 1) the amount from 30k to 70k and the review period from 5yrs to 3 yrs.

It doesn’t take much to google the actual laws.

tnerro1:
Uncle , minimum wage applies to organizations with 25 staff and above, this man no even read the law that he passed, he just read only the last page and started talking nonsense.

But try to they pay your workers living wage sha

I was laughing when Akpabio made the statement. Did he read the law he passed or have they removed the requirement. I doubt they have removed the minimum staff requirement.

Edit: as I thought, the only amendment was 70,000 and review after 3 yrs. Everything else remains the same.

alphaNomega:
yes! I totally support this

Get ready for more inflation

fantastic move, the banks have been parasites on the forex system for decades. they dont do any lending to real businesses, they just focus on roundtripping and government accounts.

malali:
I dont know how old you are, Dangote bought all the textiles in Nigeria from the government.....guess what they all failed.
Grasping whats going on might not really be your forte.....No sovereign nation should hand over its energy to a single private owner's hands.
Especially in a country like Nigeria where oversight is in the pocket of the highest bidders.
We dont even have enough Crude oil to sell and maintain our budgets and service our debts.
Let him operate independently....He is a private business.
If he insists the government must sell him crude and buy petrol from him. Then he should be ready to open up his books a 100% and give government a stake as well.
If not sell to other countries.

You are very ignorant. Dangote bought the textile mills founded by Awo. It failed for the same reason all the textile mills in Nigeria failed, it failed for the same reason his tomato factory failed.....government liberisation policies and failure to protect local industry, cheap imports from the likes of Peter Obi. The jobs that Dangote would have created in Nigeria, Peter Obi exported abroad.

I have said it before that Dangote is no saint but you haven’t got a clue.

Zwooks:
The same way you begged him alone and his tyrannical cabals for cement and price jumped from 2500 to 4000 per bag because of equipment failure at his factory just three years ago. And more recently, he and his cronies triggered the price of bag of cement from 4500 to 10500 Naira per bag within a week. Full. Use your head. Whenever the industrial processes of any nation isn't liberalized, oligarchy is reinforced. Ode

I only responded to highlight that your post why the majority of Nigerians with the financial means to do so, do not invest in Nigeria. We are a useless Evil wicked daft senseless bunch of people. Like Dangote said he was invest abroad by his friends....he didn’t listen. Do you think Dangote needs to money, fame, power or influence at this stage in his life?


I learnt years ago that Nigeria is not worth investing in if you have an alternative means of income abroad. It is the people you are investing for trying to create jobs and development that will eventually kill you ur business.

We are useless people. Your post shows it. Make your money and forget patriotism and giving back creating jobs or development. Nigeria is where it is for good reason. The people are useless,! If and when a time comes that Nigerians become serious, they will create their own jobs but if you say you want to create jobs and contribute to development they will bring down your business.

malali:
When we needed cement the most. That was when he hiked the prices. Dey Play !!

Pettymindedness. He wasn’t and isn’t the only producer of cement. Cement is not as critical to the nations survival as his refinery.

Your argument is like a man who is dying and the only doctor who can save you beat you up in school so you refuse to let him operate on you. That’s your choice but the consequence of that choice is certain death.

Nigeria’s survival going forward is dependent on the success of the refinery….like it or not!

Dangote refinery fails and we will be worse than Sudan. That is no exaggeration.

malali:
You miss the point. Congrats on building a refinery. But dont force your refinery on our national wealth. Nigerian crude oil belongs to 300 million Nigerians.
Trying to force himself into the food chain of the whole country is what we are against. We are against i must buy crude oil from you and i must sell petrol to you.
Thats not business thats, Mafia/Cartel Vibes.......No one should treat an elected Government like that. Is he above the Government ?

Again bad belle people and pull down Syndrome.

With due respect I don’t think you understand the dire straits Nigeria is in. We should be begging Dangote to take crude.

We keep begging foreign investors to come and invest, with due respect no foreign investor is going to come and invest the sums Dangote has invested in Nigeria and this is how we treat his investment?

We are not serious people. Be under no illusion without Dangote’s refinery we are forked!! Nobody is saying Dangote the man is a saint but we need his refinery to be successful or we are forked!!!!

I really don’t think you people understand how existential this matter is to the future of Nigeria.

malali:
When there is monopoly in government......We called it Military rule !!

When there is Monopoly in Business........We should call it out as well !!

90% Ownership of the Largest refinery in Africa to a single man is worse than military rule. Niger Delta should own at least 30% of Dangote refinery.

Bad belle people. Invest, you won’t invest. You will take your money meant to develop the people and buy properties abroad and on side chicks and expensive whiskey and champagne. A man takes his money to invest and you want to pull him down.

My question again is did anyone stop anyone from building their own refinery?