₦airaland Forum

What nonsense!

What of "seedtime and harvest time shall not cease..."

Or

Ephesians 4:28.

They are taxing basics of survival just to get to the wider masses. That's wrong and a shortcut to raising money from within. Tax luxury and watch demand for import of those luxurous goods decrease thereby easing the craze for forex and strengthening of Naira.

nairalanda1:
Obi that would have removed subsides if he was in charge.

(Not that he is wrong).

It is like you don't know the damage years of being reliant on just oyel money has done to this country, and years of keeping subsides and borrowing because of low oil prices. At the moment we don't have cash for another round of subsides.

If Obi or Tinubu or atiku brings back subsides, it would eventually tip our economy into damage. To the point that there would be no money even for looters self.

As long as there are cash to loot, there is for subsidy. Outright corruption isn't more noble than subsidy with some corruption.

Feintline:
With what Nigerians are going through with unconstitutional tinubu , e reach to shout " buhari for life"

Meanwhile court proceedings today was a bomb as tinubu witness decided to destroy tinubu.

Tinubu has to pay Buhari's loan to build rail to Niger and Omo for airport cleaning. Don't blame the new govt much.

IVORY2009:
When they are advised to stay in their countries and build it,they would refuse, their are better schools here private universities, Lagos Business School, and others why waste money, United kingdom is passing through tough times, after Brexit.

what's is the probability of being kidnapped by bandits for ransom.and killing the ransom deliverer in UK compared to Nigeria?
What the chance of an industry surviving a startup here and there?
Be honest and not bitter or emotional.

xtivin:
Should in case you know someone that gives you this information and ready to swap places let me know asap.

you struggle to ho over. UK does not owe Nigeria slots for immigrants so stop thinking about a swap.

Tadadobe:
Don’t mind them . I have a brother in the UK packing snow and earns £3.5M per month. That’s £42M per year o. About 3.7 billion naira per year. Truth is Nigeria is a scam. Anyone that has the means to japa should do so

except he runs a company doing it with machines I don't want to assume this is a manual snow packing job.

FreeStuffsNG:
Even the devil himself knows this is a big fat lie
They have a choice here in Nigeria if they can afford it over there. They should please enjoy UK and stop making anyone sorry for their decision.

Those of us they left Nigeria in our hands will not abandon Nigeria so they can take their time to stay overseas and come back wherever they want. Wailing is not allowed o.
Check my signature for free stuffs!

Hateful creature. If these people turn the corner and start remitting €5000/year back home, they suddenly become good but because you are so obsessed with the idea of nothing ever painting your darling APC govt bad, you detest Nigerians running out of the country and feel you can pour out your hate on them without anyone noticing.

Nahunger:
When are you coming back to Nigeria 🤠
So you can enjoy with us
Everything is free here, in fact we barely go out to work, there are free restaurants for daily 3 square meals, there is even a free spar, gym and free money shared here on daily basis.
You will love it here please come home 🥰

Not funny.

swaggerjack:
CC
CodeTemplâr

Don't let me curse your spirit o. Animalistic behavior should ....

A failed state that's overriden by vested interests.

nairalanda1:
In 2016, Buhari made NNPC the sole importer of fuel.(to cut subsidy costs, as before there were many importers, including marketers).

That meant that NNPC was importing fuel at a certain price and selling to market below that price. (As at 2022 Aug, NNPC was bringing in fuel at N391, and market price was around N186)

At the end of the day, NNPC loses money from doing that, so government pays them a subsidy...or compensation for that.

As for whether there was looting...that;s for an audit to answer.

stop peddling falsehood. It was crude swap. Crude volume was adjusted to compensate for petrol.

How true is this?

YeyeGbami:
I hear say na native doctors remain for 9ja.

working closely with politicians and fraudsters.

Very possible. Through crude for petrol swap and then selling petrol cheap to marketers. It bursts the lie of borrowing to subsidize by APC agents.

This is bad. They should be crushed and silenced.

nairalanda1:
Yes you do, you really did.

I get your message. You hate your hypocrisy being exposed.

No jobs but living well and goodlooking young man. This is the root.

nairalanda1:
Policies like what? (Am serious, please, and don't tell me to google).

And if you say palliative....I will get angry. Upon all the mess APC palliatives have caused.



Refineries cannot work when there is a subsidy in place because subsidy means that fuel has to be sold below its cost of production. And because cost of production rises, subsides may not be enough to cover the difference...leading to depreciation of refineries

Anyway, NNPC is repairing its refineries now...they too love profits.





Whereas (and I do agree with you that Tinubu is corrupt...)...if he kept the subsidy....with debt serivice already consuming 75% of our revenue, and with us having to take loans to even keep heads above water, and with NNPC still being owed 2.8 trn in subsidy, plus subsidy costs set to be more than dobule what we spent last year...plus a growing budget deficit.....

Yes, we keep the subsidy, and in five years, we would be so broke that the IMF would be running the country. As would Beijing.



Has Nigeria become like the USA and UK after 40 years of subsidy?

lol. This was how Buhari campaigned from 2015 to 2023. Subsidy is gone oga subsidywise aka backbencher.

Motorcycle now going for N250k - N450k and more. Keke now N1m.

But cars are coming down. One smart mechanic will soon start converting those car engines to auto-equipments like rice mill, destoners, water pump, and biofuel powered generator. From consumption to production. By the time rice appraoches N100,000 per 50kg bag, farmers will emerge naturally using small spaces around to cultivate it.

By fire by force, from consumption to production. Renewed shege to hope.

grandstar:
You have resumed for work this morning joyfully peddling your economic ignorance.to the gullible who mistake you for an economics professor in the London School of Economics.

Thunder fire that school that taught you economics

By the way, you dodged the question I asked in my last mention to you. Hmmmm

Stay cool my friend.

school don't teach, individuals teach?
Whatever my background you think you have a problem with is, you should be civilized enough to separate you emotions from reality.

I work for my conscience unlike you.

nairalanda1:
Yass, I know, my good sire.

why edit my most to an assault on you before replying. You proved the content of what you edited my.post to by your actions.

nairalanda1:
1.Thanks for your reply

2.I do not deny that we have security problems, so you are lying when you imply I do so. Drop that strawman. Plus the security problems are in a way a byproduct of our financial problems.

3.I stand by my post also.

Seriously man, the rate at which you project , it is too much.

And don't call me a liar again.

I will call you as long as I see you as backbencher, Kassandra, subsidywise.

You can't keep stuffing halfbaked argument downnour throats in support of shortcut policies and expect no one to expose your lies you bold your desperate arguments on.

nairalanda1:
I respectfully disagree

The problem is, Nigeria does not have enough money. And oil is no longer producing enough cash to sustain us, and hasn't for decades. Our population is large, and our tax to gdp ratio is low.

And our productive capacity is hindered by bad power, which is hindered by discos and gencos not being able to raise enough cash to fix power.

the rate you lie is astonishing.

Productive capacity is hindered but stop placing the blame on the power companies. Is discos and gencos responsible for the second largest rice farmer abandoning his farm in Kebbi? Bandits are. Many cannot export their finished goods because of disorganisation in export protocols, rent seekers and more. That's not gencos or discos too.
Even the gencos and discos are complaining about customers owing and stealing power as well as low infrastructural capacity.

Sad. No preparations for something as weighty as subsidy removal.

otunbakolawole:
My father came back from England in 1975 after studying there for almost 10 years. He was happy to come back and rushed back home. People of his age then all rushed back because the naira was two to $1. You could buy a new car for an amount you can’t even buy a tyre for today. So, you can see the importance of money. The brain drain was to our side (towards Nigeria). But the moment the money started getting useless — in other words, you have to work 10 times more to get the same thing, because of the fact that your money has been eroded and people say, "am working so hard, and I am only earning peanuts" — the brain drain started.

The point I am trying to make is, the first lesson of governance is the fear of inflation. And what is inflation? Inflation means that you are not managing your money supply very well. An Inflation rate as high as 25 per cent means that in four years, the money they are paying you at that time will not buy you a single loaf of bread because inflation has been taking out 25 per cent each year. An example is pensioners who may be earning static salaries. So, if you’re not getting 25 per cent increase in salaries annually, it means that in four years’ time, the money is nothing.

We need to tackle the inflation menace head on. We can't shy away from it. All these trial and error economics won't save us if we don't fasten our belts and get serious.

That underlined part is a lie. You can't say things have become 10 harder to work for. It is when you want to earn in pounds that it becomes 10 times harder and that's if pound is 10 times valuable than Naira. Your explaination is very flawed but got a dozen likes and some shares. Sad.

grandstar:
Please, imagine a man is earning 500k a month and his monthly expense is 700k. That means he is in deficit by 200k monthly and this amount he borrows and pays interest on it too.

He is determined to reduce his spending and when his accountants check his books, they find out he spends 200k a month on side chicks. They tell him to cut that out and his books will balance. So, he cancels it and he now lives within his income.

Then the wife meets him and asks "the money you saved from not chasing side chicks, what will you use that money for now?

What answer will you give his wife?

Subsidy isn't a side chick but the comfort and reuseables of the children and blood relatives of that man. Corruption is the side chick(a dispensable expense that should never have arisen) but the man of the house(Tinubu's govt) has decided to maintain the side chick at the expense of the children.
In fact the man used to have a garden he has expanded into a huge farm where the children and wife, with reduced standard of living, now work tirelessly to maintain the side chick and the man.

Your halfbaked analogy fall on you...lol.
Cc: omohayek

Taxing at production and sales point is wrong, especially by one arm of govt. The FG aided production of goods and taxes at production point. The State/LG aides retail and are the ones to introduce a very tiny levy at wholesale/retail points.

That's cos buying power and production are shrinking.
Handle bandits and agberos to boost production and productiveness.

SmartyPants:
Is that what the news on this thread is about?

is your brain on sabbatical?

SmartyPants:
Aggressive taxation does not stop production provided there are production-friendly monetary policies in place and a stable operating environment.

You mean like agberos taxing workers or bandits levying farmers?