₦airaland Forum

Anither563:
This is good for consumers. Competition will bring down the price of fuel and other products. It's a win for Nigerians. God bless Nigeria for ever!

Well, it is not. Dangote employs thousands of Nigerians. This alone has a huge impact on the economy. It also reduces pressure on fx which has impact on other sectors.
When you import, you create jobs in other countries.
Dangote is an infant industry that needs protection.
If the government knows what they are doing, they can use Dangote refinery to direct Nigeria economy. It is not about comparing with import prices at this stage. There are more things that buying from Dangote will offer this economy.

It is very unfortunate that INEC has this high negative rating in the country and they are not doing anything to clear themselves.
Tinubu don't have these powers that are being ascribed to him.
The question is if the peoples vote doesn't count why do politicians spend in vote buying?
Tinubu and his APC now has the money to buy votes. This is what will give them upper hands in 2027.
So let the people resist selling their votes and INEC devise ways to discourage vote buying, then Tinubu will be ordinary. Let's stop all these hyping and misinformation.

NosyParrot:
A case of 2016 is just being concluded in year 2024?!

And a very minor case that doesn't require any complex proof.
That's Nigeria for you and will someone like Tinubu looks in that direction?

It is only in Nigeria that the government and the people will wake to raise fees anyhow.
The issue is not the 100k but why raise the fees from 35k to 100k.
Why not shift from 35k to 50k first.
How many years has the negotiations to increase minimum wages lasted. And after the endless negotiations, what percentage are the workers getting?
All these can only happen in Nigeria and so people would be supporting blindly.

sreamsense:
Continue to deceive yourself since that is what you enjoy. Investors are rushing to south west because they see it as most peaceful and progressing while they run away from south east to avoid unexpected destruction to their investment. Continue! Era of begging you has passed. Your madness can only reside in the south east, you can't carry it to north or south west. South west are not praying to get brainless people like ipob who are majorly products of baby factories.

You saw how south west youths were protecting their own infrastructures because they cherish development and conscious of not allowing any ipobs or Biafrans to come and destroy under guise of protest. When you chase people away finish, then you come back to blame government that never looked at your direction for once. Please, extent sit at home to one month so that government can feel it well, well. You were sitting at home when Tinubu was moving around with his security men. You are the ones that like to imprison yourselves, so just continue!

Tell Tinubu to stop acting God, he should listen to their protest and release MNK for them. After all a court in Nigeria had acquitted him.
You will be making a mistake by thinking that it is an Igbo problem that affects only the Igbos. It is not.
And I asked you again, how far have you protected your region against the killer herdsmen since you think that it is a regional issue?
Instead of mocking, appeal to the government to do their work.
A civilian population cannot stop an armed group, it is only the government that can through dialogue, rule of law and obeying court order. No one is safe when a section of the country is not safe.

That's it. If we say that Nigeria is on autopilot, they say we are criticizing.

If the president is not interested in something as big and strategic as Dangote refinery , what else can he be interested in.
Now Dangote has to resort to Court in a fight for survival despite all the claimed impact on the Nigerian economy.

Since the president doesn't care to use the refinery to reposition the economy, the oil Canal can use it.
Well, am happy that everyone one is feeling the impact of the choice we made.
Dangote, fight on because you are alone.

sreamsense:
So you have to inflict yourself with injuries to show you are protesting? What has been the impact of your protest to government because they don't even know something is happening out there? Ipob ways of getting donations from Igbo people to kill same igbos is your own form of protest, right? Truely, government needs to build many psychiatric hospitals in Biafra land. Locking yourselves indoors on Mondays to kill south east economy that north east is even better off is your better way of protesting? Continue! When kanu is sent to jail for years, keep sitting at home for as long as he spends time in prison till his old age. And later when you turn many igbos to poverty citizens of Biafra, they begin to result into drug pushing and baby factory to mitigate self-inflicted poverty

Do you think that it a joking matter or that it Igbo matter alone.
Be joking, when Kidnapping started in the Niger Delta, many thought that it was their own matter. Today we know whose matter it is.
Don't think you are safer in Lagos or any state you may be hiding. Check your history, crisis that brought nations and empires down usual starts from one spot.
Buhari and Northern elders thought that boko haram is for Christians. Today we know how far.
So don't think that you are safer or free from what is happening in the East no matter where you are hiding now.
I believe that you have heard the saying " Nero fiddle while Rome is on fire"
My brother and check your history book before you start to jubilate.

sreamsense:
Is the ipob way the antidote to make it work better? When ipob locks people on Mondays, hijack their vehicles for raiding and kidnapping, discouraged investors from coming to biafra land to invest, are solving hardship or you compounding hardship of Biafrans? If every Nigerian is passing through 20 % of hardship; ipob adds 35% of hardship for Biafrans. That is why everywhere you turn and hear somebody saying something like on this thread, 80% must be Biafrans that multiply their hardship with self inflicted pain from ipob.

And what is your darling government doing about it. Watching and laughing.
Then you expect the victims to be patriotic.
And whenever you people mention "Sit at home" in the East. You mischievously omit that it is a protest. They said release MNK and the sit at home protest will stop. But your presidents, Buhari and Tinubu feel they can play God.

This is theoretically speaking. We know that Buhari started the destruction but Tinubu has finally buried the Nigerian instead of resurrecting it.

This is a simple case to solve, but Nigerian police will make look like mountains.

Badmashiii:
You certainly must be from the igbo tribe. Igbos have already stated they want nothing to do with nigeria,so why are they pained when nigerians choose someone else as their leader?

Your actions speaks louder than your words. Igbo presidency can only lead to chaos because the other major tribe won't just fold arms and let them do as they like just because they have power.

We don't need igbo as president. We love them as brothers and that's enough .

Just voicing your usual hatred against the Igbos which does not in any way change the price of garri in the market.
If you know Nigeria well, you should know that the Igbos are the most apolitical who doesn't care about the government and it activities.
Don't say "we" the Igbo man has ruled Nigeria and will still rule it when the time comes. One million of you cannot stop it. Obidients are not just about Igbos only.

Yankee101:
Everybody tends to assume in the Igbo space that Ojukwu was innocent

He is far from

He diverted food meant for people for himself and his troops. He co-opted the Niger delta against their will and killed their people who resisted. He felt slighted because so called junior officers got better postings (which happens till today) and he went ballistic
If there was no oil he wouldn’t have declared biafra. He wanted that oil. The same thing Nigerian leaders are doing today. So it was nothing new yet he went ahead to declare secession.

Hausas were killed in the south and igbos and other tribes were killed in the north. How many times has that happened since then? Multiple times till date. Was a war declared? Or secession? No

He ran away to Ivory Coast on a private flight when he was loosing without telling his people

All his businesses in the north were intact, his children and wife bainca were fighting over property in zaria and other northern cities while ordinary people lost their lives and property due to his decision. Gowon might not be a saint. But almost every country will deploy its army if you want to cut up the country. Starving the people was unacceptable by any means. Awolowo’s decision or not, the buck stops at Gowon’s desk.


People like to write history from their own point of view and not the reality

Man don't dable into what you don't know.

Badmashiii:
You can say this again. P.O is by no means a bad leader,but his followers,particularly the igbos are going to be a major hindrance in his victory in the upcoming election.

I dare say his votes won't be up to half of what he got in the last election. We the hausas,or aboki as they call us never for once trust an igbo man let alone endorse him as a leader. The yoruba that voted him alongside the igbos are mostly regretting their actions with the way the igbos are insulting them both online and offline.

I see tinubu winning by a great margin.

Who cares? That's your own headache. You can enjoy your Tinubu for 1000 years. But any day you complain, your mouth will bend.
You think Nigeria can move forward when everyone keeps quiet.

Easybet1:
imagine the pain he went through before he finally die, some people really get mind ooo

When one is depressed, he doesn't feel pain again.
This is why depression is dangerous.

blackboy:
I don't believe this. Autopsy should be done

You better believe because it will take a crane to hang a dead man's body in that area.

I love Ondo State. You cannot toy with them. They are very different from other South Western States. They will vote their minds.
The only strategy APC will adopt is massive vote buying.
Maybe 10k per vote.
But if INEC is a serious organization that has the interest of the country at heart, there must be a way to counter this vote buying.

Usmanovic95:
People who earn in foreign currencies.
Farmers who export their farm produce.
Sad reality is they are just like a drop in the ocean, people who this administration is favoring are minute.

No really the case. The massive devaluation and inflation makes everything nonsense.
I earn some dollars from my hustling. Yes you covert it and get big money that ended up buying nothing. It is so annoying.
Tinubu destroyed the economy from every side. The only people benefitting are those that got direct and indirect appointments from the administration. And it is only temporary.

This man doesn't know what he is saying. No Nigerian will declare a basic earnings of 100 million for tax purposes.
Those earning this much will hide the money under allowances.
Those in private sector will not even agree that they receive any salary at all.
No body in Nigeria will pay 25% of 100 million as tax.
Whom is he actually targeting and how many are they?

grandstar:
You said that corruption rarely destroys an economy. This makes every other thing you said here nonsense.

I knew you were going to rubbish that statement. This exposes an ignorance of economics.

When China was growing very fast, corruption was endemic. Japan, South Korea and Taiwan had lots of corruption when they were growing very fast.

Italy which is a developed country had lots of corruption growing fast, and corruption is still common place in that country.



If Tinubu knows what he is doing, he should have targeted 30 to 50% increase in fuel and dollar

You seem to think economists often have the luxuries of doing what they want. The reality is that they have to make the best of the cards they are dealt.

Would a 50% increase in the price of petrol have resolved the problem.

In 2022, the Buhari government spent over 100% of government revenue financing the budget deficit. That means after servicing the debt, the government has no money left to run the budget. Everything would have to borrowed. Buhari was fond of massive borrowing.

The estimated government revenue for the fiscal year 2024 is 18.5bn while expenses would be 27.5bn

https://www.pwc.com/ng/en/publications/budget.html

PwC bulletin: Nigeria's 2024 Budget Highlights
The Federal Government of Nigeria recently presented the 2024 Budget proposal to the National Assembly. The Budget titled "Budget of Renewed Hope" shows a proposed expenditure of NGN27.5 trillion and an estimated revenue of NGN18.32 trillion for the 2024 fiscal year. We have analysed in our infographic a snapshot of the 2024 Budget proposal and its assumptions relative to the 2023 approved and supplementary Budgets.

If government spends 90% of its revenue in debt servicing, that means the government only has 1.85 trillion to spend. The subsidy cost 10 trillion. How would increasing the petrol price by 50% have made a dent? The max it can saved would be around 2 trillion.

The government has no choice but to completely end the subsidy and fully deregulate the price of petrol. To continue borrowing 10 trillion yearly to subsidize petrol is no longer possible. 10 trillion every year at an interest rate of at least 20% is 2 trillion. If the government keeps borrowing that mount every year for 5 years, that is 50 tr and 10 trillion to service it.

The biggest damage the subsidy is doing is that its adversely affecting. It has discouraged investment into refining by the private sector.
Dangote should have been producing petrol long ago, but because the price is subsidized, he did not refine. The prices of kerosene and diesel are fully deregulated, and he is producing those. A litre of crude oil is 750. How then will he make money selling refined petrol at 600?

The only reason why he is producing petrol now is that government has done a deal with him. If there had been no subsidy on petrol, Nigeria by now should be refining over 2m bpd. Over 20 licences for petrol refineries were handed out to the private sector since 1999 but no one would build a refinery where the price of petrol is subsidized.

In your attempt to defend nonsense as usual, you said that government is not about the welfare of the people.
You also said that corruption rarely destroys an economy.
You started quoting irrelevant figures and statistics as a government propaganda machinery.
Well, it is not about me and you arguing here. You don't tell a blind man that there is no salt in the soup.
Millions of Nigerians curse Tinubu every day. Now he is widely called T pain.
I have not seen a President with this level of hatred. So I can only leave you and him to posterity.

grandstar:
Why weren't you crying when Buhari was destroying the economy? The government is about people's welfare is balderdash when you have to borrow huge sums of money to achieve that. T

Is it Tinubu's fault that he met only $3bn in the foreign reserves? Was it Tinubu's fault that the CBN was owing $7bn to buyers of forex?

Well, I cried when Buhari was destroying the country. This is why I didn't vote for him., both first and second term.
It was people like you and your people that voted and cheered him up for 8 years. You didn't at any time say or see that he was destroying. It is now you saw destruction because you want to defend another disaster.
It is when Tinubu leaves now that your eyes will open again.
And for your information Tinubu did not meet any 3 billon dollars as foreign reserve. Stop misinforming people. If you say Tinubu is doing well, don't worry it will reach everyone.

themanderon:
This is very distasteful. What kind of accursed country are we living in? Even the dead has no rest. Haaa....The kind of leaders we have in this country are a special breed from hell.
You don't provide any form of amenities to the people yet you tax them even in death Sick sick sick people.
Its this same hopeless people that want to start taxing solar electricity users. Veery nonsense people.

Guy, cool down. Burial processes is creating a social problems in the East. Dead bodies stays years in the morgue for their families to meet up the burial processes. Both the Churches and Government have been trying to avert these but it is not working.
Some churches have said that if you don't bury your dead relatives within 30 days, that they will not participate. It is still not working. An average family needs millions of Naira for burial. This is what they are trying to discourage. If it succeeds in Enugu State, other states in the East will adopt it because it a social problems among the States in the East.

grandstar:
What seguntijan said was quite correct.

The Suharto government was very corrupt

Nepotism was so high, it makes Tinubu look like a primary school boy.

Corruption rarely destroys an economy. Economies are far more limely to fail due to either bad policies, or due to the poor implementation of good ones.

If corruption was to destroy an economy, then the Malaysian economy should have gone under when a former president and his gang brazenly stole $5bn from a pension fund. His own share alone was apparently about $700m. The thief even stood for a second term but lost. He was later prosecuted.

I even forgot Russia. The Sochi Winter Games cost Russia $50bn to host. To understand how insane the cost, the Olympic Games which is several times bigger cost most host nations between $6-12bn.

It is believed that Vladimir Putin is worth between $70-200bn. What of the rich businessmen (Oligarchs) who became so damn wealthy by buying might state owned companies, some as big as NNPC for a token? Why do you think Abrahamovich is so rich?

It was Buhari's bad economic policies that destroyed the economy. I remember Charles Soludo and Lamido Sanusi pleading with Buhari to scrap his statist policies that they would kill the economy in June 2015. I too knew the economy was headed for disaster.

You said that corruption rarely destroys an economy. This makes every other thing you said here nonsense.
With reference to Nigeria, Learn to place the blame where it belongs. Buhari did his own. As it stands now, he is 100% better than Tinubu. Tinubu is the one that destroyed Nigeria Within one year.
If Tinubu knows what he is doing, he should have targeted 30 to 50% increase in fuel and dollar, reduce the size of the government and improve security and production. But all his attention is on increasing fuel and dollar rate. Have you seen Tinubu talk of any other things?
How do you defend fuel from N197 to N1200 per liter. Dollar from 600 to N1700.
Government is about the people and their welfare. It is not about useless reforms that are killing the people.
Stop defending nonsense. I believe you don't even know how much Tinubu has destroyed the country. Watch what will happen in few days from now, then you will understand.

oyeb15:
The fool said he increased interest rate to curb the too much money in circulation.


Pls where is d too much money in circulation. Maybe d once in bullion vans in Boudilion

The man's analysis is very annoying.

seguntijan:
Indonesia floated its currency in 1998, prompted by the Asian Financial Crisis, and the Rupiah depreciated from 625 to $1 to 16,000 - $1 in the same year. As of 1998, Indonesia's GDP was $95bn. The country was bankrupt. It ran to IMF 4 times, had food shortages, and had massive riots. The rupiah gained value to 8,000 in 1999 and went back to 16,000. The economy started to grow gradually since then, witnessing a rise in non-oil export revenues and capital inflows into the Jakarta stock exchange.

The Rupiah has traded between 15,000 - 16,000 to the $ since 1999. Currency stability - easier flow of capital - easier investments - price stability - easier growth. I tried to explain in the thread that fx stability is a more important factor for economic growth, not the exchange rate, and Nigeria must choose between price stability and a pegged volatile fx rate. With the same period between 1998 - 2022, Nigeria's GDP grew from $218bn to $420bn with a pegged / fixed exchange rate system that we had to defend with our fx reserves while Indonesia moved from $95bn to $1.3trn. Fx reserves are meant to facilitate economic trade, Nigeria chose to use over $200bn of its reserve to defend a pegged currency.

Now my questions to you are :

1. Did the weak Rupiah prevent the Indonesian economy from growing from a gdp of $95bn to $1.3trn ?

2. Did the weak rupiah prevent consistent Gdp growth YOY?

3. Has Indonesia not done well with its weak currency?

4. Can Indonesia make $250bn from exports without a weak currency?

What is your point again?

All these your comparisons and analysis are unrelated and unnecessary.
Economic growth without Economic development is a mirage.
Besides, what you failed to understand is that the amount of leakages and corruption in the system rubished the comparison.
You didn't tell us the level of padding in Indonesian budgets or the number of Jets, Yatchs, Limo and buildings etc, their president acquired in those down periods.

Stability and credibility in whose interest?
This is the major question the CBN governor has to answer.
Killing millions of the citizens to attain stability and credibility.

DeLaRue:
Associations like freight forwarders, oil marketers Association or whatever they are called always oppose any change in their sectors.

How can an ordinary PRO of Association of Freight Forwarders say '...it is not possible, don't mind the government'.

What a load of cobblers.

Does he know better than the tax reform Committee headed by a renowned tax expert Mr Oyedele who is a former head of PWC or is it Delloite.

I think the freight forwarders are probably angry because government policies have rightly led to a reduction in destructive importation.

The man knows what he was saying. The government is a joker. You cannot cannot replace Customs from revenue collection because of the technicality involved.
The expert consultant of the government is just a theorist.

vanitybutiwanti:
yes, you guys want reduced fuel and electricity tariff, you also want him to make the dollar exchange for 200-500, you want him to turn the entire population to millionaires overnight, look at the numbers, its simply not possible, if you like make Jesus christ president, nothing much will change, The country is almost beyond repair.

Defending nonsense as usual. You think that you are making sense. Is your Tinubu the first to rule Nigeria. Go to a country like South Africa and increase prices by just 50% at a time and see what happens.
If Tinubu must make reforms , should it be in this way? Why should he destroy the country in the name of phantom reforms.

vanitybutiwanti:
Tinubu is not a magician

But he is a destroyer.

InvertedHammer:
/

Question:

After today's protests, what's next?

/

The impact will continue. The impact on the administration of Tinubu is what matters.
If you know how much the government spends to avert it, then you know that it matters.

Forget all the grammars and empty promises. With fuel at N1, 200 and exchange rate going to N2,000 per dollar, there will be no progress in the country.
The president did not talk about duty free importation of food stuff again.
This is how they make promises after promises to calm Nigerians down, after that no implementation and no impact.
Once again, if Tinubu did not revisit this floating of the Naira and the price of fuel, nothing will work in Nigeria. He can make millions of promises, it will all ends there.

The people who said Nigerians don't pay taxes should know that there are direct and indirect taxes. No one evade indirect taxes. Then there are many other forms of direct taxes that cannot be evaded. It is only PAYE that low income earners in private sectors don't pay. But in most states, you pay them to access government services.
The problem is the corruption we are talking about which this government has not done anything about it.
As a new government, Tinubu should have reformed the Customs, FIRS and every other department and ministry to align with his vision.
But he has non for them. Just started from day one to fight against fuel and the dollar.
Even if he like let him collect the whole money in the country, nothing will be achieved because his government lacks depth and coordination.

Thundafireseun:
Lol at stop believing rumours….

Where are the people that voted Monday??
Why are they not celebrating his victory??
Why are only politicians celebrating

Continue telling your self things that make you sleep better at night

My man, everything is not about rumours. Nigerians should stop believing every thing they were told.Who told you that people are not rejoicing.

So if you are contesting , you will go and sleep and someone will bring results from nowhere and read.
Have you ever been at the polling units during elections and see how it works.

Furthermore, Hope Uzodimna of Imo state went to court with the copies of the results and it was recalculated and added to his scores. Is this not a good precedent. So any person that has facts can do the same and get justice so stop believing the politicians. They know what to do if it favours them.

What we have at Edo is massive vote buying. All the political parties are guilty of that.