₦airaland Forum

State police is the way to go!

The PDP govt, even though corrupt, hired the best economy managers hence their success. They also made sure the volume of oil output stayed at 2.4 milllion barrels per day consistently, something APC has been doing only about 50-60% due to oil theft by soldiers and politicians. APC is highly corrupt and worst incompetent.

See screenshots below to see the average yearly oil price. GEJ never reached an average of $103 how much more 140

nairalanda1:
That is why I said it does not excuse tinubu...read my comment.

Also, we had a period of low oil prices between 2014-21. When that happened we had to borrow to keep our heads above water. And when the oil prices go up...we end up paying the debt

As stated in this quote from this article Managing the dutch disease in Nigeria (published in 2004 by the way: https://nigeriaworld.com/articles/2004/aug/062.html

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.

By the time oil prices rose again, our debt had risen again. Debt servicing was eating 90% of our revenues by August 2022. That's why we have never benefitted from the oil price rises of 2021-date.

Keep in mind that the economy was hard under the first five years of Obasanjo...then we got debt forgiveness, which is a big reason why we were not using the high money from the 2010-14 period to pay off debts. Tinubu in a way has not had that benefit.

But that still does not let tinubu off the hook. Or Buhari. As I have pointed out earlier....they should have taken measures to diversify the economy. Like floating the naira totally in 2015, and removing subsides totally in 2015, fixing up the mess in the solid minerals sector, and incetivising manufacturing in the country. Energy subsides on petrol and power needed to have gone by 2016 january, so that there would have been enough profit to fix both sectors which would have fuelled industrial growth, and so forth and, which would have brought in a lot of investment and we would have been hailing them today. But they did not, and are only now tinubu is being forced to take some decisions because the years of debt and borrowing have forced him to take those decsions. And even then he is still getting a lot of things wrong.


Ultimately, resource dependency is a curse on any nation

100% correct!

Tinubu is the undisputed heavyweight champion of incompetence and corruption

Alhajikd:
Tinubu is the worst thing that has happened to Nigeria.
He and his ministers are so clueless that I don't really know the adjective to use.
Here in Rigasa Bakin Ruwa, we barely see light and we are paying heavily for darkness. Who does that?.
No water
No light
No fuel
No food and hunger everywhere
No money
Bandits and kidnappers having a field day.
If at this rate, you are still supporting this evil man, it's either you are insane or about to go insane. Because no normal human being will be experiencing all this things happening now and will not curse Tinubu.
Unless you are being blinded by tribal and religion sentiment.
As it stands now, Tinubu is a monumental failure.

You need 1.1 million people on the streets.
Thats 0.5% of Nigeria's population.

No army can withstand that number!

savenaijatoday:
Nigerians must be bold enough to take their destinies seriously and protect their nation from the evil politicians who cause them pains and deaths. We must learn to come out in large number to demand for change including removing clueless leaders.
For instance, if Abuja has 5 million citizens, it will take about 2000, 5000 people to come out for protest and everywhere will shake. If 5000 to 10000 people come out to demand for change, no soldier no matter how stupid will shoot. The number will be so intimidating and the government will listen because it's a big threat. But if the 2000, 5000 or 10000 choose not to protest to demand for change, more than 5million people will suffer or die.
Again, learn to give up for the sake of your nation. Give up a day, an hour designed for protest. It's not one-off thing. If you see people protesting for a good cause join them, call your neighbor on the phone and it makes more sense. If the country becomes better it's for everyone. Don't say it doesn't concern me, Ijaws, Igbos should stay away, allow them to clean their shiiit. This has created room for apathy and laxity on the side of the citizens while things are getting worse. The politicians now see us as captured people and behave worse.
Be intentional in saving your country from human disasters. Create a mini platform with Facebook, Twitter (X), WhatsApp etc where you can reach a lot of people.
Those organizing protects should consider,
Saturday early morning from 7, 8, 9am or public holidays.
Protest can also be Sunday evening. Give it the right name so the police will understand and cooperate like Nigerians can afford common foods, remove students taxes etc.
For those who have the means, print handbills. Nation building is not a joke. It takes a lot of sacrifice. Remember, "Stone Us If We Fail." I think it's time to pick up the stone and hit the street. Stop crying, grumbling and begging for food. Rise up and take your destinies into your hands.

One of the main reasons Buhari failed was because of sycophants not telling him the truth.

Tinubu is surrounded by sycophants!

Mention one positive action

Zxcvbnmghtr:
The usual CURSED people would come with their pessimism and cry all over this thread now. Every positive action or statement makes them cry blood.

Na statistics we go chop?

Tinubu truly does not know his left from his right

Big lies. Oil prices under Tinubu on average is far higher than Obj. Oil prices under Buhari on average is higher than obj. Average oil prices of GEJ for his tenure is about $90-100!

Prove your fraudulent numbers!

nairalanda1:
And if you look at oil prices they also started rising around the second half of obj regime., continued rising till they hit 140 dollars under yaradua and then went down before rising again above the 100 dollar mark between 2010 till 14

Now where did we see that before?

In 1973 , oil rose in the wake of the yom kippur war. And stayed higher than normal until October 1982 when it crashed.

All resource dependent countries go through boom and bust periods.

Zambia was booming in 2006-11 when copper prices were sky high . Copper is it's main export. Then copper crashed. Zambia enconomy went down too.

In 1978 we were having a strong economy. So to speak. By 1988, Nigerians were eating from dustbin. Hospitals were called mere consulting clinics.

Venezuela had the same issues . In the 1970s their economy was booming. By the 1980s their economy was a mess. Same thing that happened now. Today they blame the USA. The government in the 1980s was pro USA.

By 2014, oil was downward. By the end of that year, gej was borrowing to pay for salaries. By January 2015, NOI was warning that Nigerians would face hard times whoever won the election

That does not excuse buhari or tinubu. Buhari had a big chance to take us off oil. He should have removed subsidies totally and floated the naira. He should have fought corruption. He should have taken us on the road to industrialization. He should have effing fixed our minerals sector.

He did not. Nor did tinubu right now.

So I am not defending any government abeg. Na you wey dey miss things

You guys are trying to be clever by half. It is said that rising tide lifts all boats.

If you look at the GDP numbers...it started rising from Obj's time consistently until it peaked at GEJ. It started declining from Buhari to about half of its peak under Tinubu.

APC failure is not in question, its visible even to the blind and audible to the deaf. Its simply means you guys are beyond blind and deaf

nairalanda1:
Actually times were hard under Obasanjo the civilian ruler. To the point that some people were campaigning for him by saying that ' if a leader fails, he should reoeat, and that we had to understand, army rule was so hard on Nigeria

Also the period i am referring to is the army Obasanjo of the 1970s.

Finally, you missed my point.

Dutch disease. Read about it.

I'm one of them who thinks Nigerians have never had good leaders because our economy has never been dependent on manufacturing, industries and innovation. Just selling resources.

The stick you see should not blind you!

GreatKingg:
Don't you think you are way worse than the arewatwitter or waspapping dude?

I hope you can one day pause, take a break from this site, come back in a few days, review your posts and comments, and then ask yourself if you are really patriotic to the country you claim you love so much.

Lies!

You're still holding unto the propaganda you were fed with in 2014 even with available data

TheGoodJoe:
😂

Looting galore.

The only reason Goodluck looked like a reasonable person was because OBJ left a bounty in the reserves and ECA.

With increased oil revenue than OBJ, GEJ ran down our reserves and ECA, and also increased our debt profile.

Stop forcing failures down our throats.

All indices of development under GEJ were improving.

If you're ready for a civil debate I'll challenge with data only!

seborrhic:
You might as well resurrect YarAdua or even bring back 90year old Obasanjo if YarAdua cannot be resurrected.
I repeat,the only thing that made GEJ look good is that the people that came after him were far more incompetent.
GEJ was not a competent leader.
That the likes of Buhari and Tinubu have been disasters doesn't mean GEJ is the answer.

How much was crude under Obj? About $22/barrel on average. Before then it was actually lower at some point so the country has been mismanaged.

Why are you defending Tinubu's ineptitude?

nairalanda1:
Once upon a time, bread used to cost 50 kobo and petrol was less than ten kobo. And one naira was one dollar.

It happened under the army regime of Gowon, Murtala, Obasanjo and the civilian rule of Shagari

I hereby propose that we bring back these men to come and rule Nigeria


On a more serious note, when you are a resource dependent country, when the price of the resources you are selling is high, the economy looks prosperous. That is what happened under the four men above and that is what happened under gej and yaradua.

It does not mean buhari and tinubu are good leaders. Both men were offered a great chance to diversify our economy. Both failed

But GEJ was no better. By April 2014 , oil was crashing. By Jan 2015, NOI was warning Nigerians that hard times were here. Government was also borrowing to pay salaries and ended up leaving a subsidy claims debt that took buhari 5 years to settle


Same thing happened in October 1982. Oil crashed. By 1983, Shagari was singing austerity. Buhari came and did austerity pro max. Then ibb came and did SAP..low oil prices

Never ever put your eggs in one basket. Never ever be resource dependent

No matter how far you've traveled in the wrong road, if you don't return to the right road, you'll never get to your destination.

You can't keep progressing in error

helinues:
Are you willing to return back to secondary school so that this time you can pay attention to basic economics study, as we dey season of going back to where it was or supposed to be

2027 is for Obi. He will create the pathway for sustainable development like he did in Anambra!

MrProlific95:
The last time this country worked was Under His Excellency, GEJ, give us Goodluck Ebele Jonathan

Stop playing! Nigeria does not have money for the road how much more train to be included

Tijani009:
It would have been a speed train route for commercial goods and people, as it would aid movement of raw semi raw and finished goods arround the southern region

Lagos Ibadan express was started by GEJ from both end simultaneously. Thats shows commitment. Tinubu knows this project will not be completed in 25yrs so wanna do Lagos end before he leaves. Lagos badagry express has not been done 50% for 14yrs and counting

AuschwitzPrefec:
There must be a starting and end point.

Have you considered that the road will be tolled and that it's construction carried out in phases in such a way that as it progresses eastward from Lagos it will get more dividends from tolls and real estate investments ?

Starting from Calabar may not be beneficial to the project as that route will not attract much traffic and investments than that closer to Lagos..

Think for once.

Beach fronts in Ogun and Ondo will attract more traffic from Lagos and thus help pay for the project as it progresses given their proximity to Lagos..
Starting from Calabar will not be commercially viable to sustain the project construction unlike from West to east.

Think for once.

Thats how the country got here. People keeping silent when bad things happen

Olachase:
oga think about how to better Ur own Life first, the person you are crying on behalf next week him and San wolu might be chilling

You don't get it! That road was not intended to get to SS else they'd have started from Calabar end

AuschwitzPrefec:
As a SS man that you claim you are , you seem very bitter towards this project that will benefit the region.

Stop denying your roots and claiming what you are not.

How is this relevant to the post?

AuschwitzPrefec:
SS man

I'm proud of my state Delta. No region is recognized constitutionally

helinues:
Aren't you proud of your hone region?

He doesn't need to know me before I speak against injustice

Olachase:
you have been running up and down on Nairaland since yesterday, funniest part owner of land mark didn't even know you

There is absolutely nothing like regions in Nigerian constitution

helinues:
Lagos state is in one region in Nigeria, those who are from that same region are proxily a Lagosians.

Atowunriwa's don't have that privilege

Mischievous people hiding under region so that they can be included in Lagos. Nigerian constitution recognizes only states, local govt and federal. Anything outside this is unconstitutional.

helinues:
Wondering why some people have decided to be Mario's in other places claiming they develop the place while their own place is in gory state.

Those who feel they have been marginalized outside their home region should relocate their business and their family to home.

At least make una let una charity to begin from home.

Banned for this thread or hidden, none of my business, the noise makers should just stop disturbing our peace and leave our region for us.

Radarada

They are not building any 1000km Lagos Sokoto road. Don't be gullible[quote author=muhammaduyusufu post=129736825][/quote]

This one being proposed is only coastal around landmark beach. After that area, it goes through the coastal states but nowhere near the coast

Slytiger:
Ever wondered what the coolest coastal road trips in the world are? Picture the scene, you're cruising along a breezy, coastal highway, windows down, your favourite playlist on the car stereo. Utter bliss.

There's a real sense of freedom and romance to be had with a classic coast road trip, especially if your drive includes dreamy coastal scenery, quirky pit stops, challenging roads and fun passengers.

A coastal drive is the perfect road trip for seaside lovers and those seeking adventures and travel memories that will last a lifetime.

You don't understand! To be profitable, Dangote needs to sell fuel at N1400/lit. If the government had not devaluate, selling at 600/liter would have been profitable

PressMyButton:
We have 20% stakes in his refinery, made cheaper loans to him and supplied crude oil in naira. Dangote appreciates the gesture and we appreciate him bringing down diesel price. There's no friction between Dangote and FG, it's only wailers looking for senseless and sensational headlines to begin the usual round of wailings.

When will you Nigerians come out to protest?

Thats what you people do...fall back to tribalism when you have no other moves

LegendHero:
Okay Ibo boy.

I would have accepted if this had been said by a Calabar man.

Can you find me one Calabar man to repeat this?

The richest countries are the smaller ones. Another justification to separate Nigeria

God1000:
Many of the world’s richest countries are also the world’s smallest: the pandemic, the global economic slowdown and geopolitical turmoil have barely made a dent in their huge wealth.



https://gfmag.com/data/richest-countries-in-the-world/