₦airaland Forum

Hmm...... what a heck of a question is that 😳?
The market is still operational.
Let him go and buy answers.

What kind of reasoning is that?
You can't use religion to wep sentiments in lagos.

Hmm.... bloody hot 🔥 🥵 warfare and the non-tradable insurgent.

The problem is that there is no better way to get logic in the high terrorist market and hotbed of the season.

nairalanda1:
LOL...because we are dependent on oil.

I am prefacing my post by saying that I am not a tinubu supporter, and infact I have lost hope in all our politicans

Nigerian government spending is largely dependent on oil revenue...it is even better than 1996 when it was 97%, but it is still above 80%. The problem is, for oil revenue to be sufficent, the oil price has to be above a certain limit...not just the budget benchmark, but also above our fiscal breakeven

For example, last year, our benchmark for the budget was 75 dollars. Last year. From the last week of January until this Iran debacle, oil was below 70 dollars a barrel...except for a few weeks in June. Our fiscal breakeven then was 150 dollars per barrel.

So, in order to fund the budget, we had to borrow, and to borrow and to borrow.

Throw in the fact that our oil revenue since 2014 has been very low because oil prices have not been favoring us at all...until too recently, and even now (as you will soon see) the price increase may not favor us now.

The only time, in my memnory when we did not borrow was in 2008, when oil was above 140 dollars per barrel for several months. That was the year many ministries had money left over at year's end...and Yaradua was telling them to return it, which many did bitterly...lol. (Even one of my relatives who was one of those civil servants that really believed that stealing was corruption was criticising Yaradua for being too strict..hahaha).

This was outlined in this article published in 2004...

The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty

SAUCE

If you read above, you will see why we are not benefitting or going to benefit from high oil revneue. It also explains partly where the oil windfall of 1991 went.

When oil prices are high, we live well, when they fall,we borrow to live well.

INFACT , based on the above, subsidy removal won't have made things better...because at the end of the day, overall oil revenue is still TOO TOO LOW. What subsidy removal did was to make more money available for spending by the government.

It's the same idea behind the attempts to remove subsidy, or the partial subsidy removals in 2012, and many times before. The only way not to borrow is to do the Abacha style of govenrment...tight fiscal controls, which reduce spending, but make life even more and more harder and harder and harder.

Ultimately, Nigeria needs to diversify its economy. No ifs, no buts, no anything. This is where tinubu, buhari and many of our past leaders have failed.

You are funny o!.
Can you tell us the country's budget performances despite borrowing trillions of naira and billions of dollars?
Your minister for health said during budget defence that only less than 40 million naira was released to him.
Infact, it was actually confirmed during budget defence that less than 10% of the Ministries, MDAs,boards, paratatals were about to achieve 50% budget performances.
So why borrow, if you can't meet up with budget performance,duties and obligations?

HacheNoire:
Very uninformative banner!

Genocide of who? That should have been inclusive to get the real message across

Seems these MF’s don’t know the meaning of “GENOCIDE”

Who are the targeted race, tribe, religion or ethnic group?

Same Nigerian we all inhabit and know what plays?

The fact that they could not detail the target of the genocide already concludes it’s just the usual propaganda!

Let me educate you and your ever herd mentality.
There's an ongoing genocide against the Christians in middle belt, mostly plateau, benue, taraba, niger,borno,etc..

SmartyPants:
You are just mixing terms trying to prove something here. High Court of Justice refers to the state high court, which is where this judgement emanates from so what do you mean his case can't stand a chance in the high court of justice? Do you mean the court of appeal?

And if you are referring to Bello's corruption trial, that one is before the federal high court so again, what could you possibly be referring to??

You don’t understand my position on this case.
I'm waiting for the CTC of the judgement to get back to you.
I can assure you that she will appeal and win her case against bello.
Even if she doesn't win,the highest he can get is 50 million naira.

SmartyPants:
What kind of talk is this... The court is a court of law not your neighborhood beer parkour where you cast judgment flippantly.

It deals with legal issues not random issues that have no bearing on the case before it.

Can you imagine that you are suggesting that a court should not attend to a case properly because one of the parties has another case which has not even been fully heard?

What kind of reasoning is that?

I understand the substances in bello's case against Natasha.
I'm waiting for the CTC of the judgement to respond to you appropriately.
I can assure you that based on what I know, his case can't stand a chance in the high court of justice.

She stated the obvious facts.
A criminal of bello's caliper should not be given much of leverage to continue to use courts to settle political scores. This is someone that's supposed to be in prison now shopping for free courts judgement.
This doesn't speaks well of the judiciary.

They are now dancing with the regea music in classics.
They used their hands to destroy themselves. They never see something.

God knows the best for everyone. Hope is a tool of grace.

The only job that's safe is nursing,agricultural science,building engineering and theology.

Well, it's within their rights to sue,if they are bullied, harassed or grossly offended.

Image laundering at it's pick.
Your parents where comfortably paying #40k per year,Tinubu hike the fees to over 200k per year,you took loan to pay the remaining 150k and you are still clapping?
Honestly, intelligence is subjective.

Dividend of democracy served to his people.
At least they saw 👀 something.

Nowadays terrorists are more vocal than normal people.

Chelsea have taken the decision to part ways with manager Liam Rosenior.


The decision was taken on Wednesday evening, a day after the Blues lost 3-0 to Brighton in the Premier League.

The result saw Chelsea drop into seventh place, as their hopes of Champions League qualification took a huge dent.


It was also the team’s fifth consecutive loss under Rosenior in the league.

Rosenior left Strasbourg to replace Enzo Maresca in January.


Football transfer expert, Fabrizio Romano, wrote on X: “Chelsea have decided to SACK Liam Rosenior with immediate effect.

“It’s OVER after 4 months, and 5 consecutive defeats with 0 goals in 5 matches."

CLUB STATEMENT
"On behalf of everyone at Chelsea FC, we would like to place on record our gratitude to Liam and his staff for all their efforts during their time with the Club.

“As the Club works to bring stability to the Head Coach position, we will undertake a process of self-reflection to make the right long-term appointment.”

"Liam has always conducted himself with the highest integrity and professionalism following his appointment midway through the season.

"This has not been a decision the Club has taken lightly, however recent results and performances have fallen below the necessary standards with still so much more to play for this season. Everyone at Chelsea FC wishes Liam every success in the future."

“Calum McFarlane will take charge of the team as Interim Head Coach until the end of the season with support from existing Club backroom staff.”

#CFC | #Chelsea

📲 @CFC_ChelseaFC

https://dailypost.ng/2026/04/22/chelsea-sack-liam-rosenior-as-manager/?utm_source=operamini&utm_medium=feednews&utm_campaign=operamini_feednews

That is his business.
He's not the first Senator to decamp to the ruling party.
Good for him.

Nothing tangible can come out of this.
Supreme Court will completely dismantle what's remaining of the party.
Tanimu Turaki will be declared the authentic party chairman and by then,it will be too late for them to do anything tangible to meet up with the INEC dateline.

Nice. Next time, they will ensure surprising thing to happen in the country

Good for them. Wike still have them in ropes.

At least he didn't read a terrorist book.

Tinubu and his minions are on flight mode,currently on autopilot.

Plateau state have really suffered from the hands of the jihadist and Islamic extremis

That's bad. Who will vomit our #1.1 trillion if he dies?

All of the remaining blood suckers should be arrested and killed or sentence to life imprisonment without food, water 💧 or oxygen.

Hmm..... game on!
This is going to be an embarrassing defeat to the governor and APC.
Kano state never celebrate disloyalty.

See this used tampon.
He should go and lick his wounds.
Such a backward fellow.
His leadership of the party is already decided by the Supreme Court.

So bad for him,but he deserves it.
Such a terrible fellow.

I have my personal issues with him, but I wish him well.

I mocks no man. May God comfort and heal him.

The man should focus on his case of money laundering, cyberpunk,wire taping,...