₦airaland Forum

NwaNimo1:
Wetin you build with lagosians tax moni?

Lagos economy is bigger than the economy of Kenya, it is bigger than the economy of Ghana. Let that sink in for a moment.

As a responsible citizen you can always return the money if you don't need it and let it go to people who can really use it.
slowpoke would rather squander it thinking he is going to spite the government. Some Nigerians are simply irredeemable.

AMINDA:
This was how it was achieved. With threats. Every civil servant was MANDATED to be there.

Your letter was dated Nov 4th and the rally took place today on Nov 6th, are you saying all of this was put together in two days?

The real squandering of riches. You built a plant 1.6 billion dollars sold it for less than 200 million dollars.
Other countries would have put Atiku and his boss in jail.
Such audacity that he wants to be president and his boss is all over the place writing garbage letters.

rossipki:
AI Analysis

HOW NIGERIA CAN BORROW ITS WAY TO PROSPERITY

Nigeria cannot achieve its target of a trillion-dollar economy using an infrastructure backbone built for a fraction of that size, making a bold pivot from borrowing to consume to borrowing to build capital assets an absolute macroeconomic necessity.

To break free from its low-growth trap, the country must confront an immense infrastructure bottleneck that currently limits its infrastructure-to-GDP ratio to just 35%, far below the 70% benchmark required for industrialized economies.

The African Development Bank estimates Nigeria's cumulative infrastructure financing need at $2.3 trillion dollars by 2043, leaving an annual development funding gap of over $30 billion that domestic tax revenues simply cannot bridge.

By injecting a massive, structured capital sum into transport, digital, and energy networks, the country can single-handedly eliminate the structural inefficiencies that feed domestic inflation and stifle industrial competitiveness.

Mega-corridors like the Lagos-Calabar Coastal Highway and the Sokoto-Badagry road network would systematically lower regional logistics costs, connect isolated agricultural hubs directly to commercial ports, and create hundreds of thousands of jobs.

Furthermore, upgrading the national power grid would eliminate the crippling reliance on private diesel generation, immediately lowering the cost of doing business.

While critics frequently point to high debt-service-to-revenue ratios, a growth-focused strategy shifts the conversation from nominal debt size to net asset value by ensuring that funds construct self-liquidating, revenue-generating assets like tolled highways and modernized ports.

This massive deployment of productive capital ensures that the wider economy grows exponentially, meaning the country's GDP expands so rapidly that it naturally dilutes and lowers the overall debt-to-GDP burden over time.

Backed by recent fiscal adjustments like subsidy removals and unified exchange rates that have boosted international investor confidence, this single-minded focus on asset generation ensures that the debt remains finite, while Nigeria's structural capacity to produce wealth will endure for generations.

- AI

It shouldn't take AI for us to understand this. Egypt and Ethiopia are already doing it.

Gotocourt:
Same FG still borrowing

Borrowing is not the problem, what you as a citizen should focus on is what it is being spent on.
Shouting borrowing all day without any context mean nothing. There are no countries without a national debt.
Extremely bad form of borrowing is if you are using it to buy fuel, sell it at a loss and then pay interests on the loan. That is madness.

Yugoslavia247:
16 years of pdp was truncated when other parties formed APC

Northern regional party like cpc
ACN too a south west party , accord and all
Apga from the East too

Now NDC and ADC think they can beat a ruling party divisively is delusional

As much as I like NDC they are already defeated so as ADC too


If you must beat a ruling party the formula is to collapse into one big party

They will fear the numbers and the people will be so united to go all out and protest

The fear of a total breakdown will force them to announce the right result


Worse part is if they lose this election to ApC they won’t be able to contest next election

Obi might still try
But Atiku will be too old

Then they will discover that they might no longer be best option

Secondly both ADC and NDC candidates are not loyal to parties even though they have genuine reasons not to


Now Atiku and Obi have to come to their senses and work as one

This was what elrufai would have done

I believe that is the sole reason for detaining him

He unified ApC
They fear he will do so for ADC and NDC bearers
Infact he already did


So they have to either get elrufai out or get this done by uniting

Both are over ambitious, their primary goal is to become president not necessarily to make your life better.
If you judge from the way they have been jumping from one party to the next without any solid agenda or ideology you will know they are in it for themselves.

Racoon:
The panic mode in the APC is palpable. Imagine this coming up after the mother of all tsunami Atiku pulled in Sokoto while the APC lacklustre campaigns continue nationwide.

Go and face your issues with the courts. This has nothing to do with the APC.

Someone should please alert my good friend LagosOrigin to go and get his own stipend. I don't know how many bottles of Hero beer he can get but a least he can rest a little.

owobokiri:
Think smart by supporting the most wayward and the most underperforming government in history?Make that make sense. Moreover, you need to stop preaching poverty to me. I hate poverty and squalid existence.
You are here moaning about energy shortages while supporting the weary policies of the same party that has been in power for over a decade without providing any cogent answers to Nigerias energy problems?

Within a decade, both South Africa and Egypt, two African nations, have added over five thousand megawatts of power to their grids respectively! One power station in South Africa generates over 5 thousand megawatts, far above the whole output of the "Giant of Blundering". Built post apartheid! And you are on that trip of emotional blackmail with Nigerias power generating and distribution struggles? How is that my business?? Did I campaign to be made the president? Your principal did..

This country can build a 4 thousand megawatts power station in half a decade! Based either on Gas or Coal, or even hydro. The money for the phantom Coastal highway to nowhere, can do so. But your party-the obnoxious APC, has mangled priorities. How would they invest in such colossal projects that may need to be sited near the sources of raw materials, when they are neck deep in their village apartheid cravings??

They would rather build a power station at Kaduna and Papalinto, and then lay pipelines from Oguta to those far away lands to power the stations, only to turn around and ask for.my understandings when some hoodlums created by government inefficiency, start messing up the pipelines.
Again, how are your failures my business going??

If you support wasting billions of dollars on subsidized fuel consumption even when Nigeria couldn't afford it and had to borrow money to sustain it then everything you are saying are nothing but a flight of fancy.
Countries don't develop by wishful thinking, it has to be backed up by policies, resolute, strong and sometimes painful, the type this administration is putting in place which you are against and attacking here.
How you want to transition from here to China like industrialization is what you keep skipping.
Until you and the fickle politicians you support are able to articulate to us how they would skip Tinubu's reforms and transition Nigeria to a productive economy everything you are saying is meaningless waste of precious time.

owobokiri:
Dude,
You are starting to irritate..
China had a trade surplus of over TWO TRILLIONS USD last fiscal year!
That's a solid TWO TRILLIONS earned selling sophisticated finished products. Most of the factories responsible for those earnings were built withithe last 30 years or thereabouts.

Nigerias "nascent democracy" would be 30 years in about 3 years and one ElSudani is here trying desperately to save face for an obnoxious regime by regaling us with all sorts of numbers about how there was a marginal increase in the quatity of Sesame seeds and pests infested cocoa that was exported!!
You for export agbo join naa..


You are twaddlling with the mundane, and this is sad. Obviously, officialdom and hangers on in this country are full of small thinkers bereft of big ambitions..
Ethnic jingoists masquerading as emergency patriots..

Take it from me; the next 30 years is going to be worse than the last 30 years if all we do is to celebrate the greater export of mangoes and agbalomo..

Think Big bro, think big..

You are already irritating me if you are comparing China with a country oscillating between 4000 and 5000 megawatts of electricity in its grids.
People like you support fuel subsidy but end up buying expensive generators and then spend even more money to fuel it year after year just going around in circles.
You need to think smart before you start to think big.
What are needed for the type of industrialization you are aiming for can never be achieved if you are borrowing to finance fuel consumption. Where are the power plants? Where are the steel plants? OK, we should wait for Dangote abi?
The Chinese you are talking about rode bicycles for a long time while the rest of the world was cruising around in nice cars.
What you need is a change in your mentality and making right choices not simply thinking big, that is called daydreaming or wishful thinking.

You want to export like China on 5000 megawatts of electricity. Like a toddler challenging Usain Bolt to a race.

This one is always making absurd claims. If they win then election is free and fair. If they lose then it must have been rigged.

owobokiri:
Trying desperately to isolate the net effects of gruesome devaluation of the local currency from the so called marginal increase in basic exports (basic "exports" that favour few conglomerates, most of them foreign) while wondering if "anyone understands what is being said here", is wild. This is nothing but Olodo economics! Tiubunomics = Olodonomics!

How many companies are exporting more finished goods? What sorts of finished goods are being exported? Where are the effects of the earned forex in this comatoseeconomy? Juggling warped numbers as you mischievously parrot the talking lines of a failed government won't cut it this time. The masses are hungry and angry and your computer generated numbers won't be enough to save their traducers and their supporters when the ultimate uprisings start ..

Be sure to jump off that wagon before it tips at the bend...

Only conglomerates and only foreign companies? Please tell me which one is dominated by foreign companies.
Perhaps there would have been more " finished goods" if all the money spent on fuel subsidy was spent on power supply, don't you think?

QuinQ:
I don't get. How is he lying?

Thank you o.

owobokiri:
Increased because of the marked up differences as a result of devalued exchange rate.
1 billion naira export ten years ago would be rounded as almost 3 billion or above as at today
You need to stop juggling numbers and do more research ..
Ndi Researchers

That was in dollars not in Naira sir. I am not sure if you understand what is being said here. How is Naira exchange rate anything to do with the value of exports. Do you get paid in Naira for the goods you export to other countries?

owobokiri:
"Nigerias exports" or is it "Dangotes export"
How can you gauge a nations economic growth/export growth basically on the bases of the succes of one man's conglomerate!?!?!
What kind of trickle down economic nansense is that??

Is this still the federal government of Nigeria or are we now in the Federal Government of Dangote??
So once Dangote is doing fine, we are fine!?!?
You guys still remember that this is a country of over 200 million people

OK naa

Non oil exports, a little research on the internet is all you need.

anonimi:
So why is everything worse now that Tinubu removed subsidy and saved billions of dollars?

How is everything worse when exports surged 25% in the last two years? Is that how you measure things being worse?
How is everything worse when all objective observers both foreign and domestic are all saying the economy is getting better?

anonimi:
What other sensible alternative is needed than the better life we lived before under PDP deregulation and privatisation policies. For 16 years we had:

- cheap petrol
- cheap dollars
- low unemployment
- high productivity
- widespread prosperity
- biggest African economy.

That was until 2015 when Tinubu made Jonathan a one term president, in favour of kachalla Buhari who he called expired four year earlier.
Any idea why Tinubu is not just incompetent and greedy, but also demonically wicked

Petrol was not cheap, it was subsidized with money that could have gone into health care, agriculture, education, defending the country against terrorism etc.
Dollars was not cheap either, it was artificially kept low and one of the greatest scams ever perpetrated on Nigerians. A lot of foreign companies left Nigeria because they could no longer access foreign exchange. I don't know where you got your own cheap dollars from under the PDP.
Unemployment was low at the same period many professionals left Nigeria in search of work and better opportunities?
High productivity with how many megawatts of electricity? Only Lagos and a few other states was creating the illusion of the "biggest economy"
Widespread prosperity? What industries created this widespread prosperity? Agriculture, manufacturing, Mining, services, which one?
Did it all fall like manna from heaven and then disappeared?
No, it was all an illusion created by the subsidies in fuel and artificially controlled value of the Naira. It ran it's course under Jonathan and Buhari when the illusion can no longer be maintained.
Tinubu is expanding the economy away from over dependence on oil and making a level playing field where you don't need to be "connected" before you can get foreign exchange and run your business.
Why is this hard to understand?

FatimaAbubakar:
Why are Yorubas supporting Bola the drug criminal when it's clear that Bola is a complete failure?

And folks like Dele Farotimi are Ibos? Obidients and one way thinking.

The economy is improving, inflation is going down even the herdsmen issue is gradually fading away.
This issue with the opposition is not whether or not things are getting better.
They offer no clear or sensible alternatives other than wild exaggerations.
When someone like Amaechi claims to be hungry or that the president killed his mother you start to wonder if these people are serious at all.

What goes around surely comes around. Those who are stoking violence should know the consequences of what they are doing.

He is going to be a lame duck for the rest of his presidency.
The defeat handed to him is historic.

lumay2:
President Bola Ahmed Tinubu has continued to steer the Nigeria economy toward achieving $1 trillion economy by 2030. This size of economy is to be achieved in four(4) years from now. The economic policies are believed to help in achieving this goal including different External Borrowing Plans.
African nation economies have always been robust except that people on the continent are still mostly living in poverty.
Nigerian economy has been recently expressed in terms of the country's financial reserves. We live in a country that seems like a father that has billions in savings in the bank but the family members are in penury.
I am yet to understand why the economy of Nigeria is drifting yearly towards poor quality of life for average Nigerian since independence. The elites and political class may have different opinion about this view.
However, the current crops of Nigeria leaders were the youths that had the best of Nigeria. When a university graduate can buy a Volkswagen beetle with car loan.
If the current administration of Federal Republic of Nigeria has set a goal of $1 trillion economy, what does it mean for a common man?

Ask yourself when exactly did that stop and the decline started. It can be traced back to the start of the fuel subsidy. Nigeria stopped growing from that point on. About five years after subsidy was institutionalized the government under Shagari had to declare austerity measures, Nigeria has been going in circles since them.
All kinds of gimmicks were introduced in the system since then but nothing worked.
Tinubu's government is a fresh start and a rare opportunity to break from the past.

Nefort:
Atiku is actually Tinubu's main rival and I am surprised the noise I am hearing from Nairaland is only coming from Tinubu and Peter Obi's supporters. What happened to Atiku's supporters?

His son is supporting APC. Think about that.

Straight out of IPOB bureau of statistics.

LordBiden:
Reasons why Atiku is better than obi or tinubu.

Atiku is a good thief no doubt he is going to steal enough to compensate himself for all the losses suffered contesting elections but the he like obj will assemble technocrats to transform the economy.

Atiku is not a tribal bigot appointments will be spread round including the marginalized south east.

Atiku knows how to create wealth,he has been a successful business man and one if the biggest job creators in the country.

Atiku will bring back subsidies on petroleum products,he understands the situation better.

My only problem is it's the turn of the south,but instead of God to return Tinubu he can just give us Atiku to manage.
Obi is would just be another weakling like Jonathan trying to pls the North.

Ok, good luck. Sorry in advance for your disappointment.

Burruchaga71:
Both of you will regret,mark my words.

No, It takes foresight to see and understand some things.

Where's the Lagos son guy. Please make sure he knows about this.

Burruchaga71:
Advice DRUGGIE to gently step down or have himself to blame..
A word is enough to the wise.

I don't engage folks like you. Your problem is centered around food and nothing else.
FG is now giving out N50000, go and get yours and relax.

nairalanda1:
Even if we removed subsidy in 1992...when it was the best time to do so (we had 4 working refineries, and NNPC Pipeline was working)...Nigeria needs to do more than just remove subsidy...roughly speaking we need to become an industrial economy that actively exports industrial goods.

Also, we can never stop borrowing. Every country borrows...even North Korea relies on 'grants' from China and occasionally Russia and South Korea and Japan. What we can do is reduce borrowing, which means making sure every working nigerian pays income tax.

I agree with you completely but there are many things that needs to be done before you can transit to an industrial economy.
Power, steel, good transportation infrastructure etc.
Our leaders are aware of these but when they are faced with choices like developing the country in the long run or pacify Nigerians in the short term.
They always go for the short term. This why our power supply is shameful. Our roads, agriculture and everything needed for industrial growth were left in favor of short term measures like fuel subsidy.

deetin:
Appreciate or no appreciation.. or is a shame that Nigeria as an oil producing country, millions of Barrels or metric tons of it i don’t even know how it’s calculated doesn’t have a working refinary and the Dangote that everyone relies on you have said also imports so with all the billion and million dollars loans and investors coupes with our crud reserves and oil wells why can’t Nigeria as a country have its own working refineries?

Not even one but multiple? ..,you can’t say they don’t have the money or can’t borrow to build or can’t invite investors … it’s always excuses to defend what they are doing just why can’t they have a working refinery as a country that has crude? Is it not a shame? Relying on Dangote to rescue us and you jjst said he also imports , so why can’t Nigeria as a country build its own refinary that works and reduce its dependency on imported fuel because fuel controls our economy, if w rise tomorrow everything rises with it . Why?

And to end my opinion, even no presidential candidate has used building a refinery as a manifesto, so if you are Right that refineries are not working they have to continue with the status quo .. I’m not partisan but I try to understand.. you can enlighten me

One thing you need to understand is that the government is not very good at running profit making enterprises.
We see it everywhere from Ajaokuta to NAFCON etc etc.
When Dangote and Otedola proposed to buy the refineries and make them work some Nigerians rose up and started to protest, the government gave in and here we are today.
The refineries are still not working, workers there are still being paid much like Ajaokuta.
You can't develop a country like that and this is part of what this administration is trying to address.