₦airaland Forum

80billion for all the unity schools in the 36 states in Nigeria?
Apart from the fact that it's audio money, it's too small!

What's even wrong with this president?

Ramanto:
Morning they should have used to feed the poor. This is a waste of tax payers money.










That was me putting on Obi's and his goons' thinking cap

The building is actually being renovated into an hotel. So, yes it's an avenue for generating revenue for the government that will be used to feed the poor.

Agbadorian's (like your self) thinking cap would have been to tax the empty building or destroy it to build a costal highway.

SatoshiX:
PBAT will be at the front row amongst dignitaries while Agbotikuyo will be among the crowd just like a commoner. 😂 😂 😂

And where will you be?

Your one room apartment at Ogbomosho I guess.

The weed you're smoking must be for wild animals.

ALTERNATEID:
The JP Morgan report was released in August, 2023 and it analyzed Nigeria's foreign reserve as at December, 2022. The $3.7 Billion was what Tinubu inherited when he took over on 29th May, 2023 and it was increased to $3.99 as at the end of 2023. Again, read and stop making false assumptions. Open the link below and see the date.

https://nairametrics.com/2023/08/21/jp-morgan-estimates-nigerias-net-external-reserve-to-be-around-3-7-billion/

Mr. Man. CBN reports on foreign reserves is released in December(the end of the financial year)Stop saying rubbish.

Na just time e go take. Stammerer must call him papa name.

ALTERNATEID:
CBN is the apex bank in Nigeria. They dare not admit in 2023 that the net foreign reserve was around $3.7 billion. Admitting to that publicly would have further ruined the market at such a difficult period. However, when they made the announcement that we have reached a net reserve of $23 billion, they admitted to the true situation as at 2023. See the attached from premium times. Now, you should pay me for the lessons I’m giving you

Good. So you've finally admitted that our net reserves hit $3.7 billion at the end of 2023.

And of course it will take you to ash your head at a celestial church to admit that Tinubu ad his superfluous purchases and presidential lifestyle was responsible for downing out reserves to that point.

Maybe, just maybe there's still some hope for you in this world.

ALTERNATEID:
I responded to you specifically because you claimed falsely that it was Tinubu who plunged the foreign reserve from $43.8 Billion to $3billion by using everything to buy private jet. At least, I am glad i've forced you to start doing a bit of a research before coming here to make false claim.

Secondly, the figures you claimed as net foreign reserve are false as our net foreign reserve as at the end of 2021 was $14billion. By the end of 2022, JP Morgan already estimated it to be $3.7 billion. You can check the link below for JP Morgan's review as published in 2023.
https://nairametrics.com/2023/08/21/jp-morgan-estimates-nigerias-net-external-reserve-to-be-around-3-7-billion/

So, it is the Tinubu administration that moved the net foreign reserve from $3.7 billion to $23 billion. Every sensible person should be applauding the effort of the government and not trying to make false claim to ridicule this great achievement.

You're saying rubbish. Tinubu did actual plunge our NFR with his superfluous purchases.

And, those figures I put up there are from the CBN. So i should take JP Morgan's data ( a private firm) over the Apex bank of the concerned country. This your brand of weed must be for wild animals.

ALTERNATEID:
The part in bold has exposed your deep ignorance about what you are talking about. It’s just unfortunate we have people who make so much noise yet know very little. If you don’t understand the difference between foreign reserve and net foreign reserve, what contributions are you trying to make on this thread?


Tinubu met a foreign reserve of $30 billion and a net foreign reserve of $3.7 billion based on JP Morgan records. As at today, Nigeria’s foreign reserve is about $42 billion while our net reserve is $23 billion. So tell me, how did Tinubu plunged your foreign reserve from $43.8 billion to $3billion?


See, ask questions next time when you don’t understand something and stop posting rubbish.

As of December 2022, Nigeria's gross foreign reserves stood at approximately $37.1 billion, while as of December 2023, they had declined to around $33.2 billion.

For net foreign reserves (which exclude certain liabilities and commitments against the gross reserves), the figures were approximately:
- December 2022: $30.5 billion
- December 2023: $25.7 billion


As at December 2024 it stood at $23.11billion according to the central bank.

Lastly, the figure i posted about 2012 (the bolded part yeah?) was NET foreign reserves.

Sense is chasing you. I hope it catches you before you pass this your torch to your children.

Image123:
1. Tinubu paid all Nigeria’s FX Backlogs of about $4.5b and reunites Nigeria with international airlines

2. Tinubu built our net external reserves from $3.9b in 2023 to $25b in 2025

3. Tinubu paid off the $3.4b IMF loan

4. Tinubu returns the prosperity of state governments across Nigeria 🇳🇬

5. Tinubu cleared about N30 trillion ways and means obligations of FG with the CBN.

He's not competing with anyone, just doing his job.

First off, the ways and means wasn't cleared. It was converted to a bond. 40years bond. A debt our children will have to pay. The matter is still in court.

He hasn't cleared he IMF loan cause we are still owning interest. He only paid off the principal amount.

Building our foreign reserves to $25billion is not prosperity. In 2012 under president Goodluck Jonathan, our reserves was at $43.8billion.

It was Tinubu that plunged the reserves to 3bullion in the first place when he went around buying yacht and escalades and a Private jet.

This propaganda will not put food on your table. 30k is not enough money to become a rascal online.

9jatriot:
IF anyone is to take the credit for this, it has to be Ngige.

Government as employer said we want to use this platform to be paying majority of our staff including ASUU, ASUU as employee say no we will determine what you should use to pay us, if you do not agree we will go on strike.

While on strike, you have to still pay us. Ngige called their bluff and insisted that they are free to go on strike but for any month you do not work, no payment for that month.

You don't even know half of what happened.

I hope they prevail on the governor to end the strike of the state university.

zero8zero:
Obi met poverty rate at 23% from Ngige but he increased it to 57% before leaving. Tell us where Tinubu met it in Lagos when he took over from the military. That's when we can have this discussion but you will never be able to bring the facts. Your shame dey shame you.

Till today you have no data to prove that Obi met poverty at 23%

Saying Military government for Lagos when it was the entire country that was ruled by the military goes to tell how much prayer you need from family and friend to ensure that you don't end up in aro.

Melezenawii:
What is financial reengineering?

1. Tinubu paid all Nigeria’s FX Backlogs of about $4.5b and reunites Nigeria with international airlines

2. Tinubu built our net external reserves from $3.9b in 2023 to $25b in 2025

3. Tinubu paid off the $3.4b IMF loan

4. Tinubu returns the prosperity of state governments across Nigeria 🇳🇬

5. Tinubu cleared about N30 trillion ways and means obligations of FG with the CBN.

This is financial wizardry!!!!


https://x.com/DeeOneAyekooto/status/1921057846843560048

First off, the ways and means wasn't cleared. It was converted to a bond. 40years bond. A debt our children will have to pay. The matter is still in court.

He hasn't cleared he IMF loan cause we are still owning interest. He only paid off the principal amount.

Building our foreign reserves to $25billion is not prosperity. In 2012 under president Goodluck Jonathan, our reserves was at $43.8billion.

It was Tinubu that plunged the reserves to 3bullion in the first place when he went around buying yacht and escalades and a Private jet.

This propaganda will not put food on your table. 30k is not enough money to become a rascal online.

AguluLiar:
Innoson cars are manufactured in China

It's simply international business. The iPhone is manufactured in China and most of its parts are manufactured in other countries. Still it's still A US phone.

Get educated boy. You can't continue like this.

Tinubu no really get una time now.

Baba dey cook up the next propaganda.

ArewaNightmare:
😆 How does that Roundabout in ur state roads benefit you?

Did you just ask how a roundabout benefit a person?

Do yoi knowhow many accidents roundabouts have prevented? A roundabout that demarcates a three-path road?

How old are you?

From this report, we have paid up the principal amount but haven't paid up the interest which is up to $36m annually.

So, we've not fully paid up the loan. We're still owning.

APC and propaganda!

zero8zero:
Let me use your logic, so we borrowed $2million from IMF and we paid $5000. And then, our IMF debts was wiped off?. From your logic, we were supposed to still be owing $1,995,000 but we have no debts left. How come?. Na you help us pay am?. Guy, I don't even want to talk about how ridiculous you sound right now. Abeg commot for road make I see better people.

I thank my God i didn't engage in any economy debate with you the other day.

We cleared loan from one international body by we're taking more from other international bodies, how's that something to be celebrated?

temitope27:
Atiku should show us his innoson vehicles

Atiku is nott an elected official neither is he the one who made the executive order.

Sharpsharp00123:
rice is now 52k per bag

It was formerly 18,500 so its not good news.

tolue42:
Ahhh, see how you lie effortlessly. Then what is Natasha doing in court against Apabio?

And hasn't the court case been in a stalemate?

DeLaRue:
Be deceiving each other.

We are still waiting for that your evidence Mrs Uduaghan.

She doesn't owe you any evidence. She owes the court evidence and unfortunately, the court is refusing to sit on the matter.

ALTERNATEID:
lol. Pained hater. You should be providing evidence or just keep quiet.

If you don't know that FG debt has increased, you don't deserve to bebin this section.

Alliswell248:
Yes....it's.

No governor should complain about fund.

They now have money to pay their debts.

None of them should owe salary again.

Reforms are working.

You're saying rubbish.

Kaduna State University is currently on strike. Guess why? Oya stop shouting funds funds. Inflation has wiped out the intrinsic value of money. All you're seeing is numbers.

LegendHero:
Post any link you have.

Let me tell you, Tinubu paid off our IMF loan to less than $1bn from the over $3bn he met it.

That world bank figure being bandied around is not the full picture, the amount Tinubu borrowed from world bank that reflect on our account is not even up to $5bn. Yet he paid of IMF loan so it’s a net +- game.

Lastly, don’t just use your assumption on a public forum. You should not just throw around false statement because you want to win an argument.

Update: The image of IMF I uploaded is not showing. Seems I’ve reach my picture update limit.

But here is the link to statisense on that.

Rubbish talk again. I didn't bring up IMF. I brought up the World bank and ISDB.

I didn't say anything about the IMF. Tinubu paid up IMF loan but took more loans from the world bank and ISDB.

Now, about my assumption; you were taking about debt and strikes and how Argentina is faring no better than Nigeria. What I did was prove you wrong by telling you that Tinubu has taking loans too and also had strikes under him. And yes, that's a fact.

And still Argentina is still doing better, far better than Nigeria under the same timeline.

Tinubu is just clueless.

LegendHero:
You don’t know what you are saying. All country base their GDP in local currency. That is how they compare their growth rate yoy.

If GDP is the total amount of goods and service produced in a country, then why will they measure in dollar as the base value? What is the sense in that? Are they selling and buying in USD in all country?

The only reason they bring in USD is for international comparison and nothing else. Those are usually done by agencies like Worldbank, IMF, and etc to standardize the value across all countries to measure the data point better.

@the second bold statement, stop saying nonsense again. Our GDP is measured in naira by CBN and below is the source to CBN website. Check it.

Go and check the source of everywhere you see our GDP quoted in USD, they are usually international source.

https://www.cbn.gov.ng/rates/NominalGDP.html?tyear=2024

The bolded shows you don't know jack about international business or international economics.

Again, when countries are to be checked the USD is the base for weighing any economy same as it is also used in international business.

Also, using the USD for comparison shows how the value of a country can only be truly assertained by a single scale of currency. That's why the poverty index is Alo in USD and that's why countries don't take loans in heir loca currency.

In essence, the true monetary value of a nation's GDP can only be gotten through the USD and not through it's local currency since the value of nations currencies is volatile compared to the USD.

LegendHero:
Lol, so you lied about $20bn before. Now you’ve admit your lies and then proceed to lie another lie about Tinubu borrowing $10bn.

That is another big fat lie. Below is our foreign debt.

You don’t count world bank debt like that. Sometimes they are payment already signed by past government or agreement for future disbursements.

I know where the confusion lie. Because of devaluation, our debt increase exponentially in naira terms which was why most people think Tinubu borrowed lot of loan.

Firstly, I didn't lie. I made an assumption.
Secondly, our debt profile isn't the same as the amount Tinubu has borrowed. Those screenshots I posted are facts. And those loans weren't taken by previous governments but by Tinubu's government. Or should I post links too? Since you have a comprehension problem.

LegendHero:
Show the proof Tinubu borrowed $20bn and I will send you 200k immediately.

Just respond with the evidence and paste your account number.

I am waiting.

Mr. Man take that 200k and use it to do something useful with your life.

While Tinubu hasn't taken up to $20b loan, he has taken more than $10b and out GDP is still not half as good as Argentina.

And wait, remind me why we're using Argentina as a case study for comparison? Oh, yeah, because their president inherited a worse economy and had managed to do far better than Tinubu within the same time frame.

LegendHero:
Nope, they don't. They measure with their country currency.

International organizations are the one that use USD to compare the GDP across countries for standardization.

Below is China government official data, you can see they quote the GDP in Yuan. If International body will report it, they convert to USD.

Again, this is stupid talk. The only reason China bases their GDP in yuan is due to the competition they are having with the USA. Same with Russia and North Korea.

No country bases its GDP in it's local currency just same as poverty line and HDI. All in dollars.

In fact, Nigeria has never used Naira for its GDP not Jonathan or eve the incompetent Buhari. Until this reckless baba came on board. Funny enough, he's the oke who devalued the Naira.

LegendHero:
Which data is that?

The same Argentina that union are declaring strike because of low wages and poverty just last month?

The guy don go borrow $20bn to patch it, give them few more years, they go back to square one.

https://www.latimes.com/world-nation/story/2025-04-10/general-strike-against-president-mileis-austerity-disrupts-argentina

This is stupid talk. The NLC and TUC went on strike during this Tinubu's era too. Tinubu has borrowed more than $20b and the economy is still in shambles.

At least Argentina has something to show for theirs.

Stop comparing grapes and apples. Data is stubborn.

Image123:
Optics. Change am to naira. Come divide am by subsidized dollar rates. You go shout "Thank you my creator for Jagaban" before you slap your mouth.

Who calculates GDP in Naira??

😂😂