₦airaland Forum

This is more explanatory than the other thread which simply mentioned the borrowing but was silent about the projects and programs it would fund.

The country is fantastically corrupt as Cameron famously said.

Worse, they are untouchable. I'm certain Tinubu fears a Coup D'etat, and would prefer to look the other way.

The soldiers who dared expose this will also face the music.

Starving to death would have been a better option.

Gboss247:
When you are done deceiving yourself.
Another billion dollar loan have been approved by senate to defend naira (subsidize), subsidize substandard expensive petrol from Europe, provide liquidity for importation and loot the rest.

Your response is riddled with economic illiteracy.

Nowehere does this article state the borrowed funds are towards defending the Naira, nor for the importation pf petrol. There was not a single reference as such. Operators in the oil sector know that the petrol subsidy is gone. Neither is it to finance importation.

The Tinubu inherited a mess. The government would need to borrow around 5% of GDP yearly for the next 3-4 years due to the huge fiscal mess that Buhari left behind.

ruggedtimi:
Is a Rhombic night adder viper...Venom yes, but not very fatal and no documented death from the venom.

We need testimonials from those bitten by it.

ToyBoyAaron:
It's an indoor dog. Just create a little space for it inside your room for timeout. If it's pure breed a small cage can work for it

My friends Lhasa is uncaged and roams round the house, both in and out, but is mostly in.

Only drawback is that he loves humping, and therefore, quite clingy.

The man should just say he is leaving because he wants to become president.

All this grammar for nothing.

I wish they could be tested for efficacy, and for the active ingredient.

In an agbo concoction, don't be surprised that it is only one of the herbs or barks that's doing all the work. The rest are a waste.

Keep away from agbo jedi jedi that camphor is used. Commonsense should inform someone that it is a chemical substance you're drinking and I won't be surprised it is carcinogenic.

I feel nothing if I don't bath for a day. I find this weird

babztee:
These people are fucking lying.Do not believe any information that comes out of the mouth of these retards.

They’d be trying to fish out positive information ahead of the next election.
Bro,these people are just after their pockets.

What is the lie there? I knew the nightmare I experienced getting fx during Buharis government.

Curious345:
All but one of her kids with Buhari were SS genotype

What would shock was that his daughter most likely married a carrier as all their kids were SS.

How dumb can people be? You'd expect him as educated as he was to ensure their genotype were compatible.

Lamentable.

joshbj:
Why does the third picture look gayish


HBD to him

Not gay. That's very fashionable. Quite cool.

Nazgul:
African leaders and misplaced priorities. You want to enable tourism when there's an ongoing conflict in the country.

Why can't the money be used to improve security and the standard of living of their citizens. Or use it to develop their local league.

Why waste it on a sponsorship deal that would most likely yield little or no results?

Interestingly, I sought of support it.

When o e thinks of the DRC, one thinks of war and destitution. It can change the narrative.

You'd be surprised at how many countries do branding.

For instance, one would think there are no poor people in China. All we see are gleaming cities.

They were silent on the cause of his death.

That's what's most important to us.

WhizdomXX:
Question asked: Is there a indices that Nigeria is better than Bangladesh in?
In third picture the question was asked in the opposite way: Is there a indices that Bangladesh is better than Nigeria in.
Debate settled.You are all welcome.

CC: Grandstar, Seewahala, Ttalk, Reflect7, Factcheck0001

If Buhari hadn't destroyed the economy over a period of 8 years, what is Bangladesh? Nigerias per capita income in 2013 was over $3,000.

Nigeria in the short and long term has much brighter prospects. The right economic policies are the key

phorget:
If it doesn't better Nigeria then our girls won't be running there to go do domestic slavery.

You're probably referring to Bahrain, and not Bangladesh. Bangladesh should have more than enough local girls ready to do work as servants.

SeeWahala:
And yet, they are FAR BETTER THAN YOUR NIGERIA IN EVERY INDICIE

I'm ashamed of myself to even think about it

Don't deceive yourself.

I hope he is sentenced to death as soon as possible.

Most improtantly for now, he must never be let out of prison until he kpais, or has reconciled with the true God.

lexy2014:
are you saying that tinubu had this same phenomenal hatred for jonathan when he asked JOnathan to resign even when a dollar was just 200naira under jonathan?

Did Atiku and Obi not join hands in 2019 in the presidential race to push out Buhari? In 2023, did they not turn against each other? That's how politicians behave. They throw each other under the bus all the time.

People have a phenomenal hatred of Tinubu. It's quite alarming.

meobizy:
Why herbal?




Boinky-boinky-boinky-boinky-boinky-boinky.

Can you suggest any? Adderal and Ritalin are prescription medication.

If Obama and his wife begin to poke fun at Trump again, his blood would be boiling.

There is actually some suspicion that it was Obama making jest of Trump after he suggested Obama was a Muslim that sparked off his quest for the oval office.

Obama and his wife are fond of making jest of him, calling him a man child, which infuriates him.

Gboss247:
Naira isn't subsidized but billion of dollars are borrowing from multilateral organizations to defend at N1,500/$, APC supporter well done!

There's $30bn in net foreign reserves. Why would government now borrow money to defend it?

The Naira at that rate is already undervalued. It's a n overvalued currency that you spend dollars to defend, and not a weak one.

What many of you are saying is not comprehensible!.

I am scattered brained at the moment. I can't seem to get anything done because of it.

I need a medication that can improve my focus and concentration, and to keep my mind from wandering. It is really bad.

Any suggestions guys?

bestman09:
The school is a christian school, owned by the Anglican Church

Thanks for the explanation.

I feel the school must also have a program where they warn ladies about the dangers of taking nudes, and also sending them out. Both are wrong and there are huge dangers surrounding it. (Read Proverbs 27:12)

Bigchris01:
Everybody na thief na who dem catch be the really thief, but then let’s learn to condem what is wrong why would a girl send nude to a man? You are here calling her a victim while she was doing it she didn’t consider the consequences of her action?

What she did weas definitely wrong. You are very correct.

It is extremely necessary for girls in univesities to be cautioned about sending nudes to any man, or even takin g nude pics in the first place. What purpose does it serve?

They need to be fully educated about the risks involved. It needs to be inculcated in them, fully mean inculcated!

If they do otherwise, the fault is theirs.

Gboss247:
Those countries are producing and exporting massively to earn forex while Nigerian is borrowing massively with crude as collateral to import, common sense should bee common!

What you're saying is so inaccurate.

Why not blame Emefiele? There was only $3bn in the net foreign when he left office and the CBN was owing buyers $7bn.

In other to restore faith in the forex market, the CBN needed to offset the backlog. Companies were exiting Nigeria because of the chronic foreign exchange crunch. Emirates and Shoprite were 2 good examples.

Foreign banks and countries were unwilling to lend to the country. By then, the Nigerian government was spending 97% of its revenue on debt servicing. Buhari left a gargantuam mess.

The government had to turn to collaterized crude oil sales to raise the money and pay off the backlog.

So, the Nigerian government never borrowed massively to fund imports but primarily to pay off the backlog owed FX buyers.

Now, things have changed since then. There is over $30bn in the net foreign reserves, more than enough to cover 6 months worth of imports, unlike the dreadly less than one month during those dark days.

At an exchange rate of $1-1,500, imports will be discouraged. That's why the foreign reserves have grown so fast. In addition, exports seems to have picked up, but to expect an explosion in exports in barely two years coming from an abyss is expecting too much, and unrealistic.

Gboss247:
Yet Tinubu is borrowing crude collateralized dollar loans to subsidize dollars

Subsidize dollar at 1,500? The Naira isn't subsidized. The purpose of floating the Naira was to end the dollar subsidy.

Yes, dollars was borrowed using collaterized crude oil to offset unremitted dollars to buyers. The CBN was owing buyers of forex under Emefiele $7bn. There was only $3bn in the net foriegn reserves- that is the actual the central bank has access to. That was how bad things were under Emefiele. The CBN needed to clear the backlog it was owing before trust in the forex market could be revived.

The backlog has since been cleared. The net foreign reserves has risen to over $30bn.

He might have made around 3m.

I could do with that now.

dederocs:
Nothing wrong in subsidies, so sad that Nigerians are dumb, always supporting politicians to rip them off...can't the government be intelligent enough to do subsidy in the way it will benefit the people or are we that dumb?

In Egypt they have fuel cards issued by banks and subsidised by government through banking system.

Economists are not fond of consumer subsidies. They are inefficient, encourage inefficiencies and corruption, discourage investments within that,sector, lead to large holes in the budget and so on. Egypt you mentioned spends 45-50% of its budget on debt servicing. Its economy is riddled with subsidies which are a major cause of the government borrowing and the subsequent high spending on debt servicing.

Find better ways to assist the poor.

gabbytabby:
There is corruption at every level of government and in the general populace. I would ask that you suggest an alternative and I will tell you how they circumvent it.

Nigeria is a tuff nut to crack.

I am glad that you can see first hand the problem of poverty alleviation schemes in Nigeria. They are a waste of time.

The best policies that will work would be to pursue sound economic policies that are populist such as lifting protectionist barriers on food for instance to bring the prices down.

ZeroWorries:
If a man finds himself in this situation, what should he do?

End it all?

40 is still quite young. For many, that's when life starts.

The way to deal with it is to surround yourself with people. Do not isolate yourself. (Read Proverbs 18:1)

You'd be shocked that many are in the same boat. You'll also discover many are unhappily married, many childless, and a lot of other problems. Many might even envy you that you're not married.

Take each day as it comes. Each day has enough anxieties of its own. (Read Matthew 6:33)

The biggest consolation you can give yourself is to remember that this life is not all there is. There is still a better life to come! Read Psalms 9010, 2 Peter 3:13, Revelations 21:3-5). The Bible urges us to always rejoice in that hope always!

To learn more, read this article now, "Where can I Find Hope." - https://www.jw.org/en/bible-teachings/questions/hope-bible-verses/

dederocs:
Are you in government or among the people?

It's citizens rights to enjoy the benefit of their national cake and common wealth. It is a right not a previledge, like I said, either you are a sycophant or ignorant of what a democracy is and who the people are in a democracy, you people worshipping politicians are either ignorant or sycophants, because politicians are the workers, the nation belongs to the people!

Where does your interest lies?

So you want politicians alone to enjoy the wealth of the state and the people groan and suffer?

If you are not in government you must be a sycophant, because a reasonable man or human being will stick with the people's benefit, as we all know Nigerian politicians are living large off the national wealth already.

Subsidies, welfare or whatever name you want to call it, national revenue must be redistributed to the people, after all costs of government have been met.

There is nothing wrong in the government setting up affordable policies to assist the poor.

However, the use of subsidies is one of the the worst ways to do so. Find alternatives.