₦airaland Forum

Exactly. Economic and financial crime was alleged.

abdulwastecx:
If you are conversant with how power sector work you will not be saying this rubbish.

Power will be deregulated and gov't will stop fixing the price for it to work.

When you run your generator and you buy your fuel to do so, how much do you think you spend to do 1kw/hr? Way more than N300....

You have your point but it does cancel minenin anyway.

Same man who once sank a shipload of The Holy Bible. God dey o.

Now we are paying Intl prices, where are the infrastructures? They will tell you wait and start building front companies to loot the available funds.

Lol.

Beverlyjean:
80% of those that will get the loan will end up not. Getting jobs ...so tell me how that loan will be repayed ... if that's part of the reasons y they removed subsidy, then this government is made up of bunch of fools that will end up wasting the remaining resources available

even that 20% repayment you opined is better than the 0% we currently have. It is an unconditional subsidy right now but the bill has changed that. If you work for govt or big multinational where they comply with laws, there is no escape in repayment. An unpaid loan status could also disqualify one from welfare schemes like trade-moni because you don't take a new loan while one unpaid.

Lots of people forcing themselves to go to school will think harder about the whole kpali madness they are subconsciously chasing as part of a programmed crowd.

It will make people question how the education system is structured.

After taking huge loans in millions, will student just accept bad grades in order to preserve some departmental legacy about how hard a first class or second class upper is there?

Choice of course of study too will be impacted as people will ask harder about opportunities their intending course of study guarantees.

Practicals and theory will have a better balance as you know you have to apply what you spending millions.of your own sweat on.

Scholarships will be valued more now and there will be a general rise in scholarship application rate.

Skill acguisutuin will get more focus and become more trendy because no room for waste again.

Nigerians believe reddish and brownish drink give blood generally.

femicyrus:
Please who is the employer that will serve as guarantor and be deducting 10% @ 2 years after nysc?
Nnpc, first bank, dangote group, NAFDAC or Nigerian customs?
I am not understanding

All employers, private and public. The whole bill is a way of stopping unconditional subsidy. Now the govt can track you down after 10 years in the industry andnask for their money if they lack some, and trust me govt always need more money.

2. They must have secured admission into any of the Nigerian Universities, Polytechnics, Colleges of Education or any vocational school established by the Federal Government or the government of any state of the Federation

This part is a huge loophole. State will establish so many schools and admit so many student that the loan scheme will overcrowded and eve crash.

Seun, your bot has been banning me unjustly and the ban always come whenever sensitive policy change comes and I make any comment against it. It is obvious to me the ruling party have influence over this forum. A big shame.

The latest is eduction bill. I know once the current one expires, another gets triggered at my next comment until that policy has settled down. Nairaland has truly been hijacked.

This is a cancellation of education subsidy but unlike petrol subsidy instead of leaving you to buy according to your pocket, they loan you your fees and allow you pay later on when you begin to work.
Next is forex subsidy AKA fixed rate or multiple rate. They will be collapsed then Tinubu will earn the praise of IMF and WB. Testing days ahead and Nigeriansncan barely smell the coffee.

Hamachi:
Student loans are a financial burden which does not quite make sense on a pure accounting basis. So, you have signed up for a loan (a liability, surrender of your future earnings) and you have nothing to show for it. On the other hand, when you take a loan on a house (a mortgage), you have a liability (a mortgage) and an asset (a house), so when things get tough, you can sell the asset to cover that liability. And in a worst case scenario, you simply file for bankruptcy and walk away from it - with a beaten up credit score, but you recover fully in about 7 years (in US, bankruptcy is removed within 7 years from the person's credit profile). Easy. Simple. Elegant.

Now, we have a student loan. You take a loan and you spend money. You gain nothing tangible - no assets. You have an expectation of future earnings, but it's not a guarantee. However, once you are out of school, loan is due - regardless of whether or not you have means to pay for it, such as a job. Now, when things get very tough - let's say you need to pay rent and you need to eat and you would like to get a family - but the student loan is still there, and it's not going away. You can't discharge it in a simple bankruptcy. You can't make it go away in an easy way - it's a forever burden.

Your summary is longer than post itself. Well as for not having tangible asset for loan. Is there any tangible asset when you pay fees upfront?
The bill is effectively an end to education subsidy at tertiary level. It is a little bit like taking loan at zero interest to buy fuel at N500+ a litre.
I said it a few days ago not realizing a bill was in motion and now it has been signed. Next is forex subsidy AKA collapse of multiple exchange rate or floated exchange rate dictated by market forces.

nairalanda1:
The problem is, many of you guys do not actively take part in poitics.

Ye just sit down and cry and keep crying about how bad things are. But join a party, any party...and there are several of them, do some organising, fight even for a better road for your area, you won't do.

Democracy is hard work. Those people you think are 'enjoying'....15 years ago, they were carrying the big man's briefcase and doing a lot of running around.

Or you like the alternative? Dictatorship. And having lived under it, it was hellish.

(And tomorrow, some of you will line up behind a big politican now).


GO AND JOIN A PARTY, MY FRIEND!

99% of people lost their souls to party when they joined. That's why they demonize every move of every other party and applaud theirs. Irredeemable zombiesm.

Cussing or cursing?

Diesel engine powered mumu everywhere.

But one issued to permit.corruption can be respected. Bobo Chicago has spoken. The one and only broda Yekini.

The problem is once a man creates a new thing, every other man has to buy a copy of that thing for their wives while having to create their own something for all men to buy.

He is open about it unlike many others.

Hmmm...any hope for this shithole?

To see better result, grind it and use it to make swallow versus obstaculated egusi soup. Finally wash down with carrot and water melon juice.

Russia rush another man's land and now Ukraine retake it.

Shittty news

2kb/sec bandwidth loading...

kinguwem:
Still boils to down to poor governance. Who takes the fuel to neighbouring countries? Isn't it a failure of government officials esp. security agents & the Customs?
So sad that even the NLC & TUC are helpless. Who'll help the masses?

Only God can and will because the devil is the one behind unrelenting destroyers of our public life.

mancoconut:
The iragbiji criminal has continued from where Boo-harry stopped in the APC legacy of bloodshed.

I had to agree with this. There is no way some misfits will rebrand as bandits then use poverty as excuse to go after people poorer than them for farming levies and a govt not in support of the "bandits" will fold her arms and watch on, even to the point of coming up with excuses on behalf of the killérs. Pathetic nation.

The drivers of inflation. They extort and discourage farmers thereby causing lower supply on one hand and higher production cost on the other hand. These two outcomes have one further effect in common. Higher prices.
Welcome to the fantastically corrupt shithole called Nigeria.

The only one I see is the one that gives your beloved ancestral appointees legitimacy to continue shielding your mandate.

libertyfather:
No farmer there?

I don't know for them o but one thing is they discovered huge deposits of oil and gas there few years ago and that triggered religious unrest for them.

The resources course is like the inheritance an Ogboni man leaves behind for his used children. It always causes tussle and inspire laziness.

How true is this.

Ebubu2:
when the light comes, you can opt not to pay and be disconnected from the grid. Do that and stop disturbing me.

animal. I should stop disturbing you because I exposed to attempt to justify high electricity bills before your paymasters in Lagos start the rip off.
If you mention me, may plaque be the portion of you house.

Tolled roads, expensive healthcare, or juicy emploment for the kids of these Mafia?

The way Nigeria is already, no need for Benin or Cameroonians to wait for our petrol to come to them.

For example, any Hausa speaking person from Mali or Sudan can pass off as a Nigerian northerner and come enjoy the healthcare, roads, or loans subsidy removal will bring. Securing the borders and properly defining who a Nigerian is preceeds all these textbook ideas of pictorial development.