₦airaland Forum

Kukutente23:
You've suddenly lost the ability to comprehend simple English
Petroleum remittances you see listed there are remitted to the CBN in dollars. It is CBN that converts it to naira at prevailing official rate and then remit the equivalent to the FAAC
You can count how many of the sub heads are under oil and gas in the listed ones
Hope you're clear now

i remember this same thread, i have mentioned this same thing a couple of times. Note the coloured.

Kukutente23:
This will help to properly situate the increased allocation narrative

Lolz, talk about shooting one's self in the foot. You've demonstrated evidence of consistent increase in naira, our currency.
Asides oil and gas, most of other FAAC generation are in naira. Major sources of FAAC are oil and gas revenue, company income tax, VAT and customs revenue.
FAAC is also spent in naira, not dollars. Bring in dollar when you want to whine about GDP, not FAAC.
Federal government mostly spends its part on F[b]ederal roads and infrastructure, Defence and security, federal universities and hospitals, federal civil-service salaries, national agencies, debt servicing, social programmes and federal capital projects. Almost all these are in naira.
Similar thing goes for states and local governments. [/b]
You may also note the percentage shift in annual oil and gas revenue and non-oil and gas revenue. We've made outstanding progress from 1999 to now. From over 70-80% to currently 40-45% reliance on o&g. Give kundus where due.


We all know what we are doing sha. When it's time to talk about debts, which are mostly in dollars. Your hypocritical brain will forbid dollars and remember naira. Dey play.

It's wrong to even be in support of Atiku

Why do you want to play with sin?

This people are real comedians. When we say they're all working for Tinubu, you'll think we don't know what we're saying.

His supporters should ask him for specific date.

Fujiyama:
^^^
I have watched the video. Quite a few times.



^^^
You are stuck on repeat here. The thorny issue here isn't the funding source. The issue is the expenditure and the minister's careless remarks about it.



^^^


What does the above mean? Is the federal minister trying to play word games?

Oyedele obviously considers himself to be some West African sphinx but he needs to go to Egypt for more training.

The arrogance of this man is outrageous. His government took a loan of US$5 billion and he thinks Nigerians are too insignificant to ask how the loan is being spent?



^^^
You obviously don't get it. Or maybe you do.

Oyedele had no business making those comments, full stop. They were nothing but a provocation - and he will have to explain those words to Nigerians someday.

Seems you have a personal grouse or gig here, no other reasonable explanation.

Fujiyama:
^^^


Then why didn't the 'honourable' minister just say so? He just wanted to provoke our ears to anger?

He said so, but you decided not listen.

SURElee:
The way I like Tinubu eh.
Smart. Ove.
She was in charge of youth campaign mobilization the first time for Tinubu, she succeeded, she was rewarded as a minister, She embezzled funds and the. She was removed from office.

Now he has brought her back to mobilize women.
She will stand on the Shiloh stage to give test money this Dec, She don scarece for testimony line as dem remove her from. Office hahahaha
The. He might give her another portfolio.
A crook will always use crooks to do his biddings

She didn't embezzle funds. Is it possible to stay with facts or let's just fill everywhere with lies and misinformation?

Fujiyama:
^^^
There can be no defense for a federal minister paying money into a personal account.

There was no defense, that's why she was suspended. It's still wrong to accuse her of stealing money as she didn't.

Corrections:
Is it not written in your bible where Jesus said when I was sick, you did not visit me. When I was naked you did not clothe me and all that.......?

Is this statement made by Jesus about taking care of the sick, hungry and giving hope to the hopeless not part of the Gospel you talking about?

You people could be very funny you claim to have light but you rather choose to put your light UNDER the TABLE. Is that what the Bible teaches you if at all you are a Christian?

And this magically translates to selling cars and trading crypto?

Kukutente23:
Read here. All those oil and gas taxes are denominated in dollars
As you can see, they form the major component of FAAC for July. VAT actually dropped

Wow, point out what you have said that i have not said. Are you just arguing to play opposition?

Kukutente23:
It is a wrong assumption to claim that FAAC is made and spent largely in naira.
It is because of the plummet in oil remittances from 2015 that you're actually seeing in the figures. Go back and check. FAAC dropped from the highest of $48bn in 2012 to about $13bn in 2020. These two timelines coincided with our period of highest and lowest oil remittances.
Also check, 2020 was when VAT was raised by 50%, something that has not happened since the ibb regime. It is also this period the GDP dropped to its lowest and we experienced the lowest growth. Still, FAAC remittances show that naira purchasing power is a more critical factor in determining economic growth and progress than the volume of naira in the treasury.
I hope you can understand these issues so you can appreciate why I said dem suppose tie you like goat give you better flogging

Ahhh, okay help educate a brother here. What currency is our FAAC generated from, and what currency is it spent in when shared. You can break it down better than i did for understanding.

Lolz, talk about shooting one's self in the foot. You've demonstrated evidence of consistent increase in naira, our currency.
Asides oil and gas, most of other FAAC generation are in naira. Major sources of FAAC are oil and gas revenue, company income tax, VAT and customs revenue.
FAAC is also spent in naira, not dollars. Bring in dollar when you want to whine about GDP, not FAAC.
Federal government mostly spends its part on Federal roads and infrastructure, Defence and security, federal universities and hospitals, federal civil-service salaries, national agencies, debt servicing, social programmes and federal capital projects. Almost all these are in naira.
Similar thing goes for states and local governments.
You may also note the percentage shift in annual oil and gas revenue and non-oil and gas revenue. We've made outstanding progress from 1999 to now. From over 70-80% to currently 40-45% reliance on o&g. Give kundus where due.

blesdman:
Leave stories

The stories are actually the church as an administration going into business and company work. That's a diversion. Allow church members to do that.

thesolutions:
The core mandate is to preach the gospel and baptize those that believe. These were added to the church as members of the body of Christ. After hearing from Jesus, The disciples asked that the people be sent away to go buy food in nearby villages but Jesus asked them to feed the new believers, not with another round of messages but with real food. The disciples couldn't but Jesus set the example. He fed them out of the little they provided.

It is the responsibility of the church to feed the members out of the little contribution they have to offer.

If God gave them the vision to build EV as source of multiplication of the little the members has contributed, it deserves all the support by other bodies of Christ.

Oh, it's about the EV. Never mind, i do less of these now.

Betta Edu, dem no allow the woman as minister. i was hoping to see some action from her. Imagine if she sef went rogue like ElRufai and started tapping Tiubu's phone?

Imalwayshorny:
no be the woman way chop money for Buhari administration be this

No, she didn't chop money, and it was early in Tinubu's government not Buhari’s. She made a rookie mistake. She approved sending money to someone's (project accountant) personal account for disbursement. As they tried investigation, na so they enter big potopoto pupoo from previous minister. Na so everything scatter.

Nigerians are the problem of Nigeria.

thesolutions:
After preaching and converting souls, what then happens. They should continue to hear the goodnews or be engaged in service to humanity. Some people service is to bomb and maim unbelievers while others is to show proof that God is good.

The core mandate has not been accomplished. It's not the church's job to engage people in service. The church is to disciple and make disciples who shine brightly everywhere and every sphere.

Fujiyama:
^^^
No.

No.

No.

First of all, the man said the government will not publish how the money is being spent. He was very clear and direct in saying that the Tinubu administration will not provide this information. Are you telling Nigerians that this information is now available from the FEC and parliament instead? Is that what you are saying?

Second, your analogy is defective. Faulty at source. You say that it is 'messy and mazy' (whatever that means ) to trace funding sources for government projects. But your federal minister is withholding information on the spending, not the funding sources. So what purpose does your so called analogy serve?

Some have always held the view that minister oyedele is simply not a good man and he continues to prove them right. If Nigerians know more about what government is spending their money on, that can only be a good thing. For this man to adamantly insist that government will not publish this sort of vital information shows exactly who he is and what he stands for.

His cronies on here tell all sorts of tall tales about the man but his true nature is slowly being revealed with what he says (and does).

Empty as hell.

Nothing withheld here. Watch the video and learn instead of playing the attack dog.
The journalist commended him on making transparency and accountability a big deal. So, obviously he's not shying away. DMO publishes about our debt, it's not something in the past or reserved to some era or admin. FAB loan is on a flexible rate, so it's not something you explain in one line or straight, that's why i said it's mazed.
In the minister's direct words, "we'll not publish how we're spending it, we'll publish how we spend government money". You don't publish on one particular loan of many. You publish total, what the loans are for or used for.
The DMO office DG was also clear enough. Nigeria has always had the practice of debt transparency.

Fujiyama:
Is the information (on the Tinubu government's spending of this particular First Abu Dhabi loan) in the public domain? Yes or no?

Yes, i already explained it. There's a borrowing plan, MTEF out there, approved by NA and FEC. What are the loans for? Where do we get the loans? We all know what the loans are for.
Nigeria's loans, part of which is the FAB loan is intended for three main purposes:
a) Refinancing expensive existing debt i.e replacing higher-cost domestic and external borrowing with potentially cheaper financing.
b) Funding the 2026 budget i.e helping to meet the government's financing/liquidity needs.
c) Priority infrastructure projects.

God hasn't sent His body into side hustles. The church's core mandate remains to preach the good news to ALL. Every other thing na distraction.

Whether by envy or by enjoyment, let everything that has breathe worship and praise the Lord.

Phi 1:18 KJV What then? notwithstanding, every way, whether in pretence, or in truth, Christ is preached; and I therein do rejoice, yea, and will rejoice.

People don't want the truth, just what tickles then.

Kukutente23:
Ok
But for this thing wey you write so, dem suppose tie you down like goat give you better flogging
Next!!

Good, i observed that you couldn't gainsay or counter the facts. We make FAAC and spend FAAC largely in naira. There's a consistent increase in FAAC and ALL the spenders attest to it. They can ALL pay their salaries without borrowing. This was unprecedented since OBJ era. Face the facts, don't fight them.

MaxInDHouse:
Please can you quote any verse in Bible where the highlighted words are found WRITTEN?🤔

You people just swallow whatever false religions say and the next thing is you're applying it to everyone.

The Bible God never claimed to be these things so humble yourself and learn!🙂

Una don come with these abracadabra teachings.

Nice one. Things we love to see.

Kukutente23:
This will help to properly situate the increased allocation narrative

Lolz, talk about shooting one's self in the foot. You've demonstrated evidence of consistent increase in naira, our currency.
Asides oil and gas, most of other FAAC generation are in naira. Major sources of FAAC are oil and gas revenue, company income tax, VAT and customs revenue.
FAAC is also spent in naira, not dollars. Bring in dollar when you want to whine about GDP, not FAAC.
Federal government mostly spends its part on Federal roads and infrastructure, Defence and security, federal universities and hospitals, federal civil-service salaries, national agencies, debt servicing, social programmes and federal capital projects. Almost all these are in naira.
Similar thing goes for states and local governments.
You may also note the percentage shift in annual oil and gas revenue and non-oil and gas revenue. We've made outstanding progress from 1999 to now. From over 70-80% to currently 40-45% reliance on o&g. Give kundus where due.

Player that turn himself to referee, na wa. Campaign is about telling us what you have for us, not telling other fellow candidates what they must do or not do. You are not INEC or the umpire. Focus on your strategy, instead of gaslighting others not to use your strategy of tribalism and religious division.

Nigerians are fantastically corrupt people.


https://www.youtube.com/watch?v=y-OzTxlstw8?si=703sb3o9ZVl_ok73

Blame Tinubu all you want.

Udomaogodo:
For your mind you get sense now. Tuee!

It has nothing to do with my mind. Watch the video, stick to facts not emotions. Face the message.

Oracleee:
Just imagine what you're trying to defend. I'm damn sure a dime didn't get to you still you feel okay for the peanuts been paid per post to spree this........ Your kids future are on the line with the present day Nigeria.

Let me understand your grievance. Government spending and debt is public knowledge. You can get information through the DMO. Also the debt plan and approval are out there with the National Assembly and the FEC. There's no defense here but fact.

Lolz, Kaduna, Lagos, Rivers, FCT for Obi. What do these guys drink?

He gave the reasons if i recall.

Watch the Minister of Finance @taiwoyedele and the DG Debt Management Office @OnihaPatience answer this question on the First Abu Dhabi Bank (FAB) loan from @ndukaorjinmo of @BloombergAfrica at the Media Conference on Nigeria's Reform Scorecard pic.twitter.com/m4b1lE77Eo

— Enitan Bello (@enitandev) August 19, 2026

It's public on FEC and the National Assembly. Follow that, and you'd be good to go on transparency.
Analogy: It's like the FG borrowing 100million to build a stadium. All the spending, plan and budgeting on the stadium are open knowledge via the FEC, National Assembly and DMO. Follow this if you are looking for transparency and performance.
Now, FG is borrowing this 100million for building a stadium from different sources. Some from bonds, some from World Bank, some from FAB, some from whoever. Asking the FG to help you trace each particular one isn't efficient. It becomes unnecessarily messy and mazy.