₦airaland Forum

Nice2023:
He said,I will enlarge the tax net and reduce the purchasing power of the people.

He went ahead abd said,I will slow down the economy

And they were clapping for him.

Mumu dey smell.

nairalanda1:
There are no refineries because we were using refinery maintenance money for subsides, and because refineries are not profitable under subsidy, and because subsides provide an environment where it is easier to sabotage and steal money from refineries than to keep them running well.

Gowon built no refineries...(he had two when he took over, the new Port and the Kaduna one were built after he left office).

The only countries that can run subsidy the way we do are countries with populations less than 20 million or Saudi...which produces nearly 10 times as much crude as we do, and has 40 million people.

nairalanda1:
Yea, make fun

But the harsh truth is if we kept subsidy, we would have reached a point where it would have eaten our revenue, some of the borrowed money we have...leaving a deficit in next year's busget

Which would be funded by loans.

Plus, we are using 70% of our budget for loan service.

When it comes to this matter, we have two choices. We can keep subsidy, and run into serious problem in two years, or we can remove subsidy, suffer some hardship, but at least have things like more investment, more jobs, and some price reduction.

Yes, I hate high prices, but the alternative frightens me, a lot. Too too much.

I did not support GEJ, but I wish ,and back then I supported his subsidy removal in 2012. If he had not listened to Nigerians, by now we would have long since been over the worst.

Yes, keep the subsidy...till our deficit is larger than our revenue. And if you think we are suffering now, and we are, we would be in ten times worse state then.

SmartyPants:
I am not an APC supporter. I am a Nigeria supporter.

You would like for everyone to play this silly game of running the country down because your candidate didn't win.

Sorry, you have a better chance of having a cucumber shoved down your smelly arse than me joining you in your idiocy.

SmartyPants:
Which imminent demise?

The same report says dollar depreciated to the naira while the naira held parity with the Euro.

But you want to seize on the slight appreciatiation of the pound to prophesy the demise of the naira in your family?

We're already in Q3 2023. Get sense on time!

apexdesigns12:
You can’t use MTN you fill form try using another network

krcboy:
use VPN

apexdesigns12:
What network are you using?

realmidas:
I really have no idea what is going on at the Italian consulate. it seems they're on a prolonged holiday or just can't be bothered. My application was made over a month ago and it's been crickets since then. I'm envious that my people got their passports back within a week of applying at the French consulate!

grandstar:
You want the poor to breath? The air you want them to breath is their death.

The present reforms are not optional. Buhari ran the economy aground and it was in very bad shape.

73.5% of federal government revenue was being spent on debt servicing. After you spend that, you now want to take from the pittance left to subsidize petrol? Petrol subsidies will consume a big chunk of what is left.

Check the article below and study how the debt servicing to revenue grew

https://nairametrics.com/2023/05/17/nigerias-debt-service-to-revenue-ratio-rises-to-112-in-2022-cbn/

9jaRealist:
This is my point about LOW STANDARDS and lowered expectations…
Quit subscribing to a VERY LOW bar, educated/professional Lagosians are migrating to Kigali and Accra.

Lagos may have more than 10x the population of Kigali…
But it also has more than 10x the revenue and resources (human and material) of Kigali.

Like I previously noted, population is a double-edged sword…
The crucial difference lies in governance and resource management.

We cannot aspire to be a world capital…
While subscribing to LOCAL standards and expectations. EKO o ni Baje!
>

Bolaji1996:
You guys don't know you are displaying your dumbness and gullibility with this daily rants online. Because I don't know how you expect things to work miraculously without making any sacrifice and going through inconvenient process. Even if you put Obi that you feel is your messiah there, and he actually want to work, do you expect him to perform miracles without any obstacles and difficult times at all?

DOptical:
Isn't Emefiele an economist, what has he achieved apart from being the worst CBN ever? You dey craze? Tinubu turned Lagos revenue around to what it is today! And yeah, Tinubu is far better as a top degree business administrator!

airsaylongcome:
TBH, it's sad reading all the obidients responses of negativity here. While I did not vote for Jaga on February 25, I would no categorize myself as an Obidient. Primarily because the massive "attacks" coming from that camp is not something I identify with. It's Okay to be opposed to BAT, but resorting to insults and social media intimidation will not get us the results we need, which is a better Nigeria for all of us long suffering Nigerians. I'm in full support of the tribunal and all other legal means challenging the Tinubu election. But I'm also in full support of any decision by the FG that will ultimately result in the betterment of our lot.

I'm also not in support of the several "attacks" from "On your mandate we shall stand" folks. EU gave a scathing report of our 2023 elections and you all are denigrating the EU because the report doesn't portray your principal in good light. With BAT being una to secure over 50% of the voting electorate, it says a lot about his nationwide acceptance. It would be better if the "Mandate standers" use diplomacy to win over doubters rather than slamming every criticism they get

BoA has given its analysis of our financial prospects. The incumbent administration needs to focus on minimising the negative impacts of its decisions, and ensure that economic policies that are favourable to us, common Nigerians, are what is paramount in whatever decision they make.

We have suffered to much as a people for anyone of us to continue to wish us bad luck.

God continually bless the Federal Republic of Nigeria. It's the only place I know as home

Morphinne:
The EU should better face the array of challenges facing Europe at the moment. They should face UK’s house rent and gas crisis, the Ukraine conflict as well as the recent crisis rocking France are all there. The last elections were the most transparent so far (relatively)
It showed the real mood of the country. I wasn’t expecting a man from Buhari’s Camp to win easily and it was reflected in the result. An election that saw the fall of Lagos to oppositions, an election that saw the defeat of incumbent president’s and governors’ states, the election that witnessed the emergence of a 3rd force and ordinary ppl getting elected into the lower and upper chambers is now being tagged as the worst ever by mørons who know nothing about our internal politics. Peter Obidaft and his league of morøns believe that the states where he won weren’t rigged whereas the places where his oppositions won were heavily rigged. This idiøt won in 2 states outside of his region while no opposition party won a single state in his own region, yet, the people who gave him__a total stranger, 2 of their states are being called bigots while his region who delivered none of their states to an outsider see themselves as being 100 percent patriotic. Isn’t this madness?
In fact, Peter Obi (a one-time vice presidential candidate to a crook) getting up to 6Million votes mean we have a very big issue to address as a nation because it shows that we have a whooping 6 million lunatics living in our midst.

Babathanks:
That's what I always tell most of them ooo especially this my compound here in abj. Anytime they hear this bad news, they always rejoice and be using it to mock Yoruba

haybee2018:
i thought i'm the only one who NOTICED this oo!! Omo, light issue nor be like befr o
.
the thing steady seriously now...well, that's what we've been craving for

zizle87:
So I just went to pick up my passport at Gbagada office . And even though I have family benefits that I have to collect in September which I have to be present for and I put all the proof and letters signed right from presidency.recieved from every office and every stage. Plus an invitation letter from my friend , I was refused .

Just one reason, that there were reasonable doubts I won’t leave the territory. So I guess they just decide by any means who to give and not . I don’t know a stronger proof of home ties than collecting family benefits the government owes which is due in September.Suddenly I lost interest in the country altogether. Looking at better options moving on. Because to not return to Nigeria because of France is laughable

HomorBj:
Lol,obedients on twitter are so hate filled and gullible,they feed on anything people like Pearl,Nerfetiti,Peter Obi hypeman, Blonde girl feeds them .Normally, anyone neutral person who listen to their stand would generally have a hate filled live towards the President.
They even hardly check through news,they immediately spread lies and all,people who turn news to favor them,laughable lots.Worse part is,they come from a particular region ,if na lie I dey lie,check their profile.
This Government will work,we well meaning Nigerians would get it right,oh less I forget,they are the same set who said they would rather fulani retain Presidency than Yoruba🤣🤣🤣

grandstar:
The reality us that the 8 years of the Buhari administration completely messed up the economy, dragging it down and loading it with mountains of debt.

So, correcting it won't be easy. The 2 most painful reforms have already been implemented which are ending fuel subsidies and the unification of the exchange rates. These 2 policies will not only reduce waste but massively increase government revenues overnight.

It is also too early to judge things. Ministers have yet to be appointed. Who would be appointed as the finance minister is crucial as well as the next governor of the central bank.

Today marks the 28th day of this government. A better flashlight might be first 100 days in office.

wasuka14:
No matter how anyone kick. Certainly government can't continue to pay subsidy on dollars and petrol. That's the fact. Let's face it and find different solutions arround it. There is no problems without solutions. This is an Era of thinking, Era of looking for different solutions to the problem we face instead of kick and complaining. Let's think.

Wetin concern subsidy with import duty increase?some of you really need psychiatric evaluation.

GWMI:
So many people just wish Tinubu failure not knowing that wishing him failure, doesn't mean he will fail.
Let's see what happens in weeks to come as we survive this new Government policies.
But one lesson learnt is that, Nigeria was a highly subsidized society now all subsidy is going we got to bear the heat.

nextstep:
Yes it has changed, but that rate was artificial, in the sense that only a very small segment of Nigerians could realistically access dollar at 460. The 756 you're seeing is the real - market supported rate - what it should have been all along, and indeed was closer to what most Nigerians were getting.

The rate that Naira becomes will be a weighted average of the old (subsidized) rate and the parallel rate (weighted by the number of people who could access either). JPM seems to think 600, I'm thinking it would get worse, even going as high as 800, as multinationals with money currently trapped pull out their gains. Painful in the short term, yes, but the reason the naira is devalued is because we want to buy more than we produce as a country.

Same thing with fuel. We were all paying the higher rate for petrol (it just didn't come out of our pocket, but we were paying it in the lack of service and infrastructure). Now the hope is now that we won't be subsidizing neighbours or smugglers, we will see the gains of paying more out-of-pocket.

Uten9z:
Which kind wahala be this

I deh my way coming back from Abuja to go report salary varnishing between IPPIS to account without any description and then this. By the way Abeg who even design that thiefing device REMITA self, una days don the count finish?

The truth about this is that the future gain is better than the sacrifice we have to make as a country now.

We quickly compare this country with china on how years back china was backward that even Nigerias currency was far better but we don't want to knw the sacrifice they made or undergo such to become the words leading economy one day. We have zero down from fastest developing country to what we are now.

Believe me even closing the borders by Former PMB was not a wrong idia but the system didn't make plans + our greedy marketers and marchants men who countr the prices of market commudity perceive that new actors will arise from the result and they will be face out so instead they resulted to frustrating the citizens with highest impact on the poor masses with unscrupulous rise in prices of livelihood.

It's not funny for me especially and I didn't vote in this government but a right thing is right to associate with, I am not finding it any funny but I believe there are some bricks that we need to drop in this country if we need to move forward and better and it dosnt matter who does that.

One thing obvious is that the prices of community normally even from a kilometer apart varies in Nigeria (no control) and Nigeria still patronize them in there variations and never complain even with the wide margins weather they knw or not in as far as they need it but then I observe that the gap and margins is now closing up considerably, I can speculate by a more than 75%.
I mean people that extort other people are now forced to close up, they cannot longer practice their hideous crimes of over bloating their market prices again because no one is buying and to keep business they are have to almost harmonize their commodity prices with the regular because of the hike of price from increase of subsidy most likely.

By the way cutting down means of person living is the solution to cope now till things set.

I trust the government to do something too just like GEJ did by supplying Elrufai Buses, and with other emoluments expecially for government staffs and citizenry.

But if una decision is that we stay as we deh tor no qualms, as the common Nigerian man slugan "Na so e bi tei tai, nothing go work for this country".
Or we go support and join jagaban so that the small salary we deh earn no go stiln stop. Abi una no no say the system don deh cripple? We need a different approach to fit into the fast evolving world economy with too much loan to bare for as long as possible.

Unless we are set to end this country or frustrate this government by making sure it doesn't deliver (which we all go sufferam) we need dialogue on possible outcome forward.

My pick

LeoDeKing:
This administration is the perfect time for anyone who knows within himself that he actually has any thing to offer to start cashing out. Tinubu is a seasoned first class accountant and he knows exactly what it takes to boost economy.

But anyone who feels the only thing he has to offer is the endless search for a rotten manhood is free to do so. But one thing for sure, they will search for that manhood till 2031.

After 2031, Shettima, a banker continues from where the great Jagaban stop and if the nitwits searching for manhood still deem it necessary, they are still free.

Oya, let the insult start flowing in.