₦airaland Forum

Hi

emkz:
The way our system is structured, development is supposed to start at the grassroots/states. Most of the issues Tinubu is handling, he is not supposed to. Lagos state has BRT and LAGBUS. What does your own state have? State governments are allowed to generate electricity. What has your state generated?

I cannot answer all your questions. As for borrowing. Are you aware that our crude oil was forward-sold to finance the subsidy regime? Are you aware that revenue needs to be used for development/infrastructure, recurrent expenditure, capital spending, and debt servicing? Are you aware that borrowing is one way to keep government spending running?

Question for you: if you have 10 million naira in savings, and you have someone who gives you a low-interest loan of 8 million naira to handle a project like a road that is going to generate income through tolls and pay back the loan and earn you revenue over a period of ten years with an initial two-year moratorium, what would you do?

In this kind of circumstance no one should prioritize an non-priority like the coastal road. Especially considering the corrupt circumstances of it's award.

No

CharlesCNG:
That is actually the RIGHT question. The extra bills did not magically appear. Some were consequences of Tinubu’s reforms; others were new spending obligations.

About ₦9.37tn was the additional naira cost of servicing external debt after naira depreciation; ₦9.39tn was additional wage expenditure following inflation, the new minimum wage and adjustments; ₦6.47tn went to additional infrastructure spending; and about ₦3.14tn to electricity support.

You can absolutely question whether those policies were wise or whether Nigeria got value for the spending.

But that still doesn't rescue Kenneth’s arithmetic. If I save ₦100,000 on rent but acquire ₦200,000 in school, medical and mortgage bills, you can question the ₦200,000 — but you cannot claim the ₦100,000 saving never happened simply because I still needed money.

So the intelligent question is no longer: “YOU SAVED SUBSIDY MONEY, SO WHY DID YOU BORROW?”

It is:“WHAT ABSORBED THE SAVINGS, WHY, AND DID NIGERIA GET VALUE FOR IT?”

That is a debate I am very happy to have.

The point will remain why the increased borrowing? Because surely, the saved monies from subsidy removal should absorb most of these (even if I leave aside the fact that much here is self inflicted) and borrowing at already existing levels as well should more than suffice. Why the increased borrowing in spite of greater liquidity?

You and I know the truth. And anyone who knows Nigeria always knew it from the get go when they were singing this song of using subsidy savings for development.

We always knew it would be stolen.

anonimi:
No one hates Nigeria more than the master strategist who begged Buhari in 2015, to make Jonathan a one term president after his party imported terrorists to destroy our country.

I have since concluded that Bola harbours deep seated hatred for this country, especially its poor.

AMINDA:
"APC saying that if subsidy comes back there will be queues reminds me of how I met my wife during Buhari’s time. We were both queuing at a filling station, I saw her behind me & decided to give her my spot. We exchanged numbers & the rest is history. That’s the beauty of subsidy."

- Yusuf Subsideen

Atiku/Amaechi 2027!

Pls tell me the surname is a co-incidence or sarcasm?

oluwaseyi0:
Opposition without sense and just for the sake of opposing will get no where
See what Atiku is surrounding himself with

No wonder he ha been running for almost 40 years

You can calm down, he is unlikely to win okay?

That does not mean many people in this country are not interested in hearing policies that are not created by Satan in Hell Fire, where Tinubu gets his inspiration from.

GloriousGbola:
Atikulator wey dey disguise

You were defending gej for the failed 2011 subsidy removal, now you are saying bringing back subsidy is a good idea.

We will all be alright las Las.

To be clear, I never for one day believed in subsidy removal.
I dont know where you saw me defending GEJ for it.
I was on the streets during the January 2012 protests against his partial removal of subsidy.

At best, I may have commented that when GEJ did his own which was partial, Bola protested vigorously, only to come and do his own in draconian style with absoluteness. The hypocrisy is astonishing. Of course, people can change their minds, but not for one second did Bola ever say that was the case or apologize for what he did in 2012. Rather it was left for someone like Fayemi to admit that they were only playing political games.

AMINDA:
You have to be disruptive and come up with policy positions that differ from the status quo.

For me, this is the most important thing. Its ridiculous for the govt of the day and the opposition to all be saying the same thing. If they are, there is no point in opposition. Even if bringing back the subsidy is a bad idea (and it is not) certainly there is value in having opposing ideas which the electorate will interrogate.

GloriousGbola:
You are an adult
You have worked in multiple businesses

Every year your company draws up a budget. But things will happen. Accidents, emergencies, unscheduled maintenance, urgent expenses.

The same happens in the home

Washing machine fails
Pump fails
Generator fails
Car AC fails
Laptop screen is suddenly broken
Someone falls ill.

One time extra money came in and went immediately as someone bashed my car in traffic.

Right now I have a major unavoidable cost center (operational) that if exited will almost immediately be replaced by a new cost center (capital)

And we all have problematic things we are managing that we will immediately replace if we have liquidity.

Oh so sudden contingencies is what gulps so much that even after removing subsidies we have to take MORE loans than ever before?
This is a joke.
I fear your capacity to reason is affected on BAT's matter on account of absurd levels of bias.
It reminds me of the way Trumpists defend Trump.

CharlesCNG:
I understand your disagreement with Point 3, but this is actually one of Kenneth’s weakest pieces of arithmetic.

First, the Federal Government did NOT save ₦15.8tn. That was federation-wide: roughly ₦5.43tn for FGN, ₦6.52tn for states and ₦3.88tn for LGAs.So Kenneth begins by comparing savings belonging to three tiers of government with borrowing by only one.

Second, saving money does not mean you stop having bills.The Finance Ministry estimates FGN had about ₦20.4tn in incremental resources: ₦5.43tn subsidy savings, ₦3.12tn other revenue and ₦11.85tn borrowing.

But it faced about ₦30.64tn in additional expenditure pressures, including ₦9.39tn wages, ₦9.37tn additional naira cost of external debt service, ₦6.47tn infrastructure and ₦3.14tn electricity support. So the correct question is not:“IF YOU SAVED, WHY DID YOU BORROW?”

It is:“HOW MUCH MORE WOULD YOU HAVE BORROWED WITHOUT THE SAVING?”

Think of a family that stops paying ₦100,000 rent but then faces ₦70,000 extra school fees, ₦50,000 medical bills and ₦80,000 mortgage costs.
If it still borrows money, does that prove the ₦100,000 saving never existed? Of course not.

It means the other obligations exceeded the saving.Now, challenge the ₦11.85tn borrowing.



To say , “you saved money and still borrowed, therefore where is the saving?” is simply bad accounting.

A GOVERNMENT CAN PLUG ONE HOLE IN THE BUCKET AND STILL NEED MORE WATER IF THE OTHER HOLES GET BIGGER. KENETH CONFUSE “WE STILL BORROWED” WITH “THEREFORE WE NEVER SAVED.”

Where did the extra bills pop out from and why?

IronGalaxy:
Insults begets Insults boss.. your nationality loves insulting but bruises easily when insults are meted back..
Anyways..a "potent" economy which doesnt translate to living standards is useless

Rome was not built in a day.

cococandy:
Trump destroys their nuclear weapons (which they didn’t actually have and were only two weeks away from developing BTW), only to resurrect it and destroy it again.

And he will continue to “destroy” it as long as that silly story keeps getting him the support of his unthinking base.

It would be hilarious if it were not so tragic.

IronGalaxy:
No, bragging that they make the most money out of you is. You guys brag of weird things, its like you always have something to prove..

Its nothing to do with bragging really. I am just reminding you how potent the economy you like to insult is.

cococandy:
Obliteration after obliteration.

IronGalaxy:
No surprises, you brag about every useless thing under the sun.

Right. So you are saying MTN is useless. Gotcha.

IronGalaxy:
I fail to understand why I'm being mentioned..is this an attempt to brag?

YES

O

RandDigital:
Thanks, we've built SA to first-world standards with all that money. But more thanks to the other countries we generate 70% from. They're the MAJORITY stakeholders ♥️🏆🏆🏆

We'll soon diversify away from Nigeria, it's a national security threat.

Have the grace to say thank you.

Irongalaxy, RandDigital, MistressZA, note, MTN operates in 16 countries. Only one country accounts for one third of it's income. It could be no where else but Naija.

basilico:
Simply say you failed to convince me that the belligerent Iranians are the victims. .That Americans are the aggressors.
That the regime can orchestrate murder and mayhem for 47 years because of an act that happened in 1953.
Good day sir.

Yes I failed. Good day.
All this after pointedly ignoring the war sponsored by the US.
Na wah.

pocohantas:
I hope her husband catches her and leaves her. So she can come be with you fulltime. Let's see if the sex would still be sweet. Cheaters fail to understand whatever security and balance they have us courtesy theit spouses. Yet they don't fail to ruin it for a few minutes. Extremely foolishness if you ask me.

There is something about the risk involved that makes the experience hotter for many people.

Exousiang01:
LoL
You these children.
Education in Nigeria seriously needs an overhaul.
Of we check now you be graduate ohhh.

Have you every heard the words "Purchasing Power"?
Do you know what the Purchasing power of a currency is?

Do you know that Nigeria economy is growing faster than the US, UK, Germany and many economies that you worship?

You better go back to school.
You can start from JS1, some schools still dey write common entrance.
Get educated ohh

One thing for sure, both GDP and GDP per capita have fallen massively since 2015, and we are now 4th in Africa from 1st.

Lithiumite:
You are even half as intelligent as the olodo Kenneth okonkwo that was being quoted,you can imagine how pathetic your situation is.

Crude prices went up because subsidy was removed,subsidy removal then cost the people more because the naira in their pocket got devalued by about 17% .....its simple logic!! Simple enough for a 12 year old.

You insulted someone only to vomit the most illiterate statement in the bold. Crude prices have nothing whatsoever to do with subsidy.
Crude prices are international.

CharlesCNG:
12 THINGS KENNETH OKONKWO GOT WRONG — OR SERIOUSLY OVERSIMPLIFIED — ON CHANNELS SUNDAY POLITICS

Kenneth Okonkwo came armed with colourful phrases and usual propaganda lines. But once the rhetoric is stripped away, several claims need serious qualification.

1. “FALLING INFLATION WHILE PRICES RISE = VOODOO ECONOMICS.”

Wrong. Falling inflation means prices are rising more slowly. Falling prices are deflation. A car slowing from 120km/h to 60km/h is still moving forward.

2. “₦15.8TN SAVED” MEANS TINUBU GOT ₦15.8TN.

No. The scorecard attributes roughly ₦5.43tn to the Federal Government; states and LGAs received the larger combined share- 10.8 tn.

3. “YOU SAVED ₦15.8TN BUT STILL BORROWED—WHERE IS THE MONEY?”

Bad accounting. Saving on subsidy does not abolish wages, debt service, infrastructure, power support and other obligations. A family can reduce one expense and still have a mortgage.

4. “DEBT ROSE FROM ₦77TN TO ₦159TN, SO TINUBU BORROWED ₦82TN.”

Misleading. Debt stock is not the same as fresh borrowing. Buhari-era Ways and Means securitisation- about 30tn entered the stock, while naira depreciation dramatically increased the naira value of existing foreign debt.

5. “₦34TN WAS GIVEN TO TINUBU’S RICH FRIENDS.”

That is a huge leap. Customs said nearly 60% of the import-duty exemption approvals concerned military hardware; others covered CNG, vehicles, medical equipment, manufacturing inputs and food interventions. Scrutinise the waivers—but don't rename the entire figure “money for Tinubu's friends.”

6. “IT'S OUR CRUDE—JUST SELL IT CHEAPER.”

Fine. But sell an $80 barrel for $60 and Nigeria sacrifices $20. THE BILL MOVED. IT DIDN'T VANISH.

7. HE COULDN'T GIVE ATIKU'S PETROL PRICE.
The seun repeatedly pushed: WHAT PUMP PRICE? Kenneth answered with “affordability.”
But affordability is an adjective. It is not a number. He could just confess that it is still all a guessing game. ATIKU HAS ANNOUNCED THE PROMISE. HE HAS ONLY JUST BEGUN THINKING THE POLICY THROUGH.

8. DOMESTIC CRUDE CAN ESCAPE WORLD PRICES.

No. Government can deliberately sell below international value—but that foregone value is precisely the economic cost of the intervention. Call it whatever you like. Somebody pays. Kenneth’s argument suggests he has never met a basic economic concept called opportunity cost.

9. “DANGOTE IMPORTS BECAUSE TINUBU DOESN'T SUPPLY CRUDE.”

Overstated. Dangote DOES receive Nigerian crude. NUPRC says the refinery required 63 million barrels in Q2 2026—about[b] 692,000[/b] barrels per day—but actually accepted 52.6 million barrels, roughly 578,000 bpd.
The real argument is therefore about the adequacy, pricing and commercial availability of domestic crude, not that Tinubu gives Dangote no crude at all. BIG LIE!

10[b]. IMPROVING MACRO NUMBERS ARE “PAPER ECONOMICS[/b].”

Hardship is real. But FX availability, letters of credit, investor confidence and macro stability are not imaginary. You cannot fix the living room while ignoring the foundation.
A HUNGRY FAMILY NEEDS FOOD TODAY—BUT BURNING DOWN THE KITCHEN WON’T FEED THEM TOMORROW.

11. HIGHER STATE ALLOCATIONS MEAN LITTLE BECAUSE OF INFLATION.

Inflation erodes purchasing power, certainly. But that doesn't automatically erase substantial increases in state revenues and budgets.
The better question is:GOVERNORS, WHAT DID YOU DO WITH THE MONEY?

12. AND THEN CAME THE ECONOMIST.

Kenneth's argument pointed heavily towards reversal. Muda Yusuf's position was more nuanced: the reforms have serious shortcomings; improve cushioning and implementation—but don't simply reverse the reform trajectory and recreate the old distortions.

That was perhaps the most revealing contrast of the programme. KENNETH BROUGHT THE SLOGANS. MUDA BROUGHT THE CAVEATS.

KENNETH BROUGHT THE POLITICS. THEN CHANNELS BROUGHT IN AN ECONOMIST TO CHECK THE ARITHMETIC.

FAIR CRITIQUE EXCEPT NO. 3

basilico:
Trunp is doing what US presidents failed to do.
Get rid of the Ayatollahs. Preventing those suicidal maniacs from getting the nuclear bomb.
The Taliban are not killing Americans infact they still get aid . Syria run by ex Al Qaeda is not planning hostilities for now. Iraq got pacified after being invaded by America.

Your excuses for Iran are pathetic. It's because you hate Trunp.Had it been Biden bombing the crap out of Iran you'd be rejoicing .
You have no idea what Iranian people want,.Go to X and see what majority of them desire.
Your smugness about the root cause smacks of ignorance .
Your friends grieve about 100 school girls accidentally killed ignoring the over 30,000 ( it could be a 200! So what) killed by those fanatics this year,more are being hanged every day .
Don't even know where we are going with this. Iranians say 47 years of current hostilities,
Actually you are blaming American for the war. You are exonerating the Iranians. You stand with the murderous cruel ruling regime excusing their behavior. I stand for the Iranian people.

I can't deal with this illogic. Have a good day.
What a waste.
Phew.

No

basilico:
How many countries have had their government overthrown by the west and they never chant death to the west every day.
What a lousy education you received.

The issue is a claim the war is 47 years old.

A historical fact cannot erase another I repeat.
Is it me saying Trump started a new war?

Stop being daft.

A war is 1000 years old, so what.

Who started it? ? ? ?

This has nothing to do with Trump.

No, you cannot sweep under the carpet the overthrow of a democratic government replaced by a puppet of the West. That is deep. That is seizing control of a country.

And you still ignore what they did through Saddam.

Is 750,000 lives a joke?

Hi

basilico:
We've been saying for months Iran has been at war since 1979 with America. I've provided a figure of 1500 or so Americans killed by Iran through its proxies.
You people say no,it's a new war stated by the evil Trump.
I produced irrefutable evidence Iran mayor saying exactly that. Iran has been on an uninterrupted war for 47 years.

You shift to CIA 1953 actions which
wasn't the issue denying the war is 47 years by implication.

Boris Johnson was asked in Parliament whether he had broken any covid lockdown protocols. He said no,all protocols had been followed.
5 months later photos of him raising a wine glass in nfront of a table full of alcoholic beverages were published. He claimed he genuinely did not comprehend that a gathering with alcohol, snacks, and socializing constituted a social event. Later claimed he was repeating what his subordinates had told him.

Your 1953 CIA is a red herring. You are shifting definitions and changing subject.

One historical fact does not erase another.
A lawyer should know that.

What nonsense is this. You say they have been at war for 47 years. Okay. The question is who started it. And I have shown you the aggressor. Period.

It's nauseating speaking with you. Sometimes it's like speaking to a five year old and other times it's like speaking to a patient in an asylum.

basilico:
Bending so low to support Iran.
The aggressor may as well be traced to the one who created human beings in the first case
That's your reasoning.
You know better from west Africa than a senior Iranian figure?

This doesnt even start to address the point, neither did the Mayor say they started the belligerence.
You once claimed to be logical - why are you pretending you didnt see the points about the 1950s coup plotted by the CIA and MI6 and the point about the Iraq war sponsored by the US?

basilico:
Quickly board a flight to correct current Tehran Mayor Alireza Zakani that Iran hasn't been on an uninterrupted war with America for 47 years
The Mayor brief bio.

And who has been the aggressor?

1. First and foremost, the US and UK destroyed Iranian democracy and installed the Shah -

The 1953 coup d'état in Iran—codenamed Operation Ajax by the U.S. CIA and Operation Boot by the British MI6—overthrew the democratically elected Prime Minister Mohammad Mosaddegh and consolidated absolute power under Shah Mohammad Reza Pahlavi.

It stands as a watershed event in Middle Eastern history, marking the United States' first peacetime covert operation to overthrow a foreign government.

2. The US again supported Saddam Hussein in his mad invasion of Iran which led to a bloody war in which some 750, 000 Iranians died. This is a totally unprovoked war, they supported Iraq to attack because they were not happy the Shah was deposed.

These are just two major facts.
In light of these alone.

Who is the aggressor?

Kukutente23:
I first wondered where they got the whip from.

FSBoperator:
The section you quoted states approval from the NASS following a request from a governor seeking a state of emergency to be declared.

This isn't the same as the President requiring legislative consent from the NASS.

God have mercy. Where did you see Governor there? What school did you go to?

Let me paste it for you -

Section 305 (6)
A Proclamation issued by the President under this section shall cease to have effect –

Section 305 (6)(b)
if it affects the Federation or any part thereof and within two days when the National Assembly is in session, or within ten days when the National Assembly is not in session, after its publication, there is no resolution supported by two-thirds majority of all the members of each House of the National Assembly approving the Proclamation.

---
Please tell me where you saw Governor there?
The law does not make any provision for the Governor to approach the NASS.

Look , let me advise you.
Pride and ego especially in the face of proof are useless.
Good night.

Olofofo247ng:
Q: What would you do in the first two years of your second term?

President Tinubu gave the most brilliant response.

He wasn’t touching the host, he wasn’t repeating his name, and he wasn’t talking about what’s happening in another country. He answered the question directly.

He said exactly nothing.

FSBoperator:
No apologies for you because the Governor did not seek the approval from the NASS.

Rather it was the President .

How shameful. Shior.
This is why its pointless interacting with some of you.
After beating your chest that there is no two thirds requirement.

Worse, this statement just shows up your unfathomable ignorance even more.
The law does not make any provision for the Governor to approach the NASS.