₦airaland Forum

Gboss247:
A litre of petrol that cost over N1,000 to refine will be selling at N100 without subsidy, what brand of self-deception are you using?

That's for people buying crude and not a govt that has unfettered access to crude oil. I already stated it will reflect as a shortfall in crude oil revenues so stop trying to be unnecessarily argumentative.

What started like campus matter is now a global issue.

FreeStuffsNG:
"We are pleased that our government has decided to respect international law and decided not to be complicit to genocide," ESJT's Herbert Jauch told the BBC.

Namibian human rights organisation the Economic and Social Justice Trust (ESJT) welcomed the move.

After avoiding the red sea because of the Houthis who have been bombing ships heading to Israel, the ship took the much longer stretch around Africa only to be treated like a plague. Nations are scared stiff of being complicit in the war crimes in Gaza and Israel.

Both sides should please stop the war. May God bless Nigeria for ever! Check my signature for free stuffs!

Hope they stop paragliders too. That's what Hamas used to breach Isreali well of protection before killing an abducting them.

FG To...

As corrupt as Ukraine is they are better in many ways than Nigeria.

nairalanda1:
The fact of the matter is, we got here because we had the wrong idea about fuel ....we thought we could make it cheap to 'help the poor'

It's helped the poor....at the expense of our domestic refining capacity.

Like I say, if you want working refineries and an end to scarcity, let the refineries and the marketers sell fuel at a profit....so that there would be enough money to plow back into the refining capacity.

Abusing me and calling me names does not change that fact. We have tried subsidy for over 4 decades. It's not working.

And fixing the refineries is not going to solve the problem. The best the refineries can do is produce fuel at a cost above N1000 per liter. Subsides would force them to operate at a loss.

But most of us think that cheap fuel costs nothing.

Refining and subsidy have no link. Someone is refining the one we are currently buying and subsidising unhindered somewhere so stop saying subsidy was maintained at the expense of local refinery. It is a case of refinery refining and selling at intl price to whoever wishes to subsidize the crude products.
Let me ask you, now that the refineries(govt ones) are dormant, aren't we paying workers salaries and spending more trying to fix them? That tells any honest person that the problem is the people there and not the subsidy itself. Govt can decide to sell petrol at N100 if it is locally refined and crude locally sourced. It will only lead to shortfall in crude sales revenue. They are already paying salaries of the idle refiners and spending more than Dangote to fix refineries not as big as his.

The lies about intl mafia being part of the conspiracy to keep local refineries down holds no water because Dangote built a bigger and far more complex one from scratch.
Same corruption that is killing refining and crude industry is same one ravaging every other sector of the economy.

Dictatorship in disguise?

Where is the wisdom in constructing hundreds of KM of new roads when there are some very troublesome portions of existing roads that is always giving travellers nightmare?

For example, has the ever troublesome portions of East-West road in Bayelsa been fixed?
How about Federal roads around Lagos and Ogun state?

id4sho:
Spot on bro, dollar has suffered devaluation too💯

https://www.in2013dollars.com/us/inflation/1979?amount=1

One dollar then is about 4.4 USD today. No currency is stagnant in value. We only choose dollar reference to make conversion simpler.

immortalcrown:
Calculate it and give your own figure.

Quick Google Search reveals a dollar in 1979 is about 4.4 dollars today.

To understand better, check the below link:
https://www.in2013dollars.com/us/inflation/1979?amount=1

OR

Google search:
"One dollar today versus 1979".

immortalcrown:
1200 Naira in 1976 was 1,935 Dollars. That is 3,076,553.25 Naira today.

Flawed computation. One dollar then isnt one dollar today in value. The dollar changes value relative itself across time.

DeLaRue:
Treasury bills is also a way to mop up excess liquidity (cash) from circulation.

Excess cash is one of the drivers of Nigeria's endemic high inflation.

As part of the CBN's efforts to bring prices of goods and services, it will continue to issue treasury bills.

You can't say you want prices to come down, but when the CBN takes action including issuing treasury bills, you rush to Nairaland with a thread headed 'CBN to borrow on behalf of Federal Government' as if it is a bad thing.

Every country in the world issues treasury bills o a regular basis, with the USA having the largest treasury bills program in the world.

people cant feed you are talking of mopping up the small change they have to curb inflation. Inflation caused by increased cost of production or low productivity dont fear liquidity dynamics. They humble equilibrium and make a mockery of textbook jargon. In a country where thy spend approx 70% of income on feeding, mopping up cash wont make people embrace hunger just to allow cash mop up. Nigerians will keep spending because they are largely just trying to survive. Not much disposable income margin to yield to cash mop up pressure.

Lol. They are borrowing to keep up with paying mostly idlers and ghost workers at federal, state and local govt levels.
In addition, projects that cannot repay 15% of their capitals in the short or medium term will be funded.
Add to the list, outright looting.
Add to it, wastage like hajj, allowances for rock stars leadership, and convoys of leaders.

Then when it is time for repayment, most likely, when Tinubu is long gone from govt, Nigerians(if nigeria survives) will call the future President, the most useless President we have ever had. They will say IMF and WB are satanic to developing nations. They will coin degrading names for future oppositions(Agbadorian, Zombie, Wailer, Corn-warriors). Demonize one another while praising their own party to high heavens like they are angelic.

Vicious eight-years cycle of regression that is.

Lol. Where do you work Oga? 325k is impressive.

I see GMO as flawed human creation.

Perfectly Logical. What has age got to do with higher education?

Better country and not efulefu Palestine. By the time isreal is done with Hamas, Palestine will be Malestine. No more palle dem again, just malle and sis.

What is his resume like?

Botragelad:
Iran drone in Putin's hand!

West vs Islamic and ethnic Rus terrorists.

First son and first daughter, all at a time the nation is struggling financially.
So prudent of agbado-onomics govt.

Western helicopters in Ukrainian hands.

They really need to.

Same reason Atiku and Kwankwaso haven't condemned banditry of late I m guessing.

“Structural adjustment was the idea of the World Bank. However, I disagreed because we lacked the structure. What exactly were we adjusting? They were simply deceiving us.”

Structural adjustment is still needed today. Why is Zamfara and Osun mining gold to smuggle to middle east today while ND oil has been oversubscribed?
Structure OBj is talking about clearly isnt the one that makes Kano spend billion in March 2024 to stone a spirit and then in August, start sending pictures of dilapidated school buildings to the media in a bid to attract foreign funding.
It is same structure that makes bandits get ignored by security forces because they feel they are cancelling out what militants did in the ND to get amnesty.
Baba needs to be explained to properly.

Difrent:
But we are sending fuel and other supplies to Israel too.
Nigeria has maintained its neutrality so far

sending or selling? Lol

Post more details. What is the actual power consumption? Go to the chassis/label and snap it please.

helinues:
Education should be blamed in the current Nigeria. Some people believe because they are educated, they can't do some work ..

Hahaha all those hairstylist , fashion designers , some of them are earning far reasonable than someone working in the office.

People should stop queuing behind those who already created their own path, create yours too.

But remember, nothing like an overnight fortune, you must have done something before such happen, only few lucky ones got fortune overnight

What nigerians are crying for is not new cloth or hair style.
How will a graduate who knows what is happening in the Bush go there to farm and risk being a poster boy for kidnapping herdsmen? Flood is devastating the hinterland and you are talking about menial hustles.

helinues:
It's favouring us IJN

We face our hustle squarely without waiting for the government to put food on our table

Sebi some of una wan dey drag politics discussion instead of channeling same energy on how to turn things around.

And before anybody go shout government, may be the person's progress and success in life are tied with government

madmen full this forum. Person wen dey sleep n eat for nairaland too dey talk about not waiting for govt.
It is people like you that will born 8 children and use them to do incremental Yahoo.

These people are skillful when it comes to cornering funds and loans from WB, IMF, UN, US and AFDB.
Same kano that supported Hajj demon stoners with billions or another Kano?
Same govt that destroyed the projects by previous Ganduje govt?

Just looking to collect their own share I guess. If not, what has happened to previous probes?

Go and plant corn or pawpaw.