₦airaland Forum

Mumu people.
I thought you have handed us over to "market forces"?
How can Tinubu with no economic qualifications be single-handedly making economic policies?
At leats, he should have waited until experts are in charge of various departments.

worksmart:
Yet mere individuals are able to build "illegal" refineries in Nigeria, that the government send the military to destroy. Think again!

Stop being deceived.
Cooking crude oil inside metal drum is not refinery.
Secondly, those guys don't buy crude, they steal it and cook it,
making 100% profit.

FFK better keep quiet.
He has been rewarded with pause in his EFCC case.

azikiweironsi:
Imagine showing more of ignorance in the public place.
A bookkeeper ? And he worked with an International Oil Company? Check your head.
I know a lot of mumu will fall for this especially those who never made to tertiary institution but a WAEC dropout.
What exactly wrong with our oppositions ? Leaving the real sores but taken care of scars.
Shioor.

He is right, accounting and economics are not the same thing.
Even security guards and cleaners works at International Oil Company.
Nothing special there.

Goke7:
Nigerians are funny sha, we all agreed that subsidy was a fraud and now we want it back

Who and who agreed?
The dullard presidential candidates lying through their teeth don't represent Nigerians.
Of course, they deceive people by talking about fuel subsidy instead of price hike that all Nigerians
understand.

surgical:
cement is expensive because of the monopoly, monopoly usually hurt the people
On the purifier, you will find out in the long run it becomes far far far cheaper, while in the short run there may just be marginal difference which will still be much better than travelling to abuja to buy

Is there also a monopoly in noodles, pure water and local rice?

Some of us understand what is going on.
There are of course marginally better approaches and solutions but there is no magic.
Any politician claiming to have a secret solution is either lying or foolish.

This is funny.
How do you know he is happily married?
I hope it is not based on social media pictures just like Churchill and Rossy?

surgical:
oga its possible it's just brain washing that it's making people think like this look at it this way you have been buying table water from Abuja while you have water at your backyard in Lagos because you had no purifier ,in the cause of buying the water in abuja you incurred,so much cost including buying the currency they used in abuja at significant cost including transportation and insurance and something for those you sent to abuja to get it,it will add up to something very significant, now if madam is able to persuade to buy a purifier at home,and next time you want to drink, you just go to your backyard, use your pumping machine get water to the purifier and then to your table, now imagine how much you will have saved, it's similar to what is happening in Nigeria.its just irresponsibility on the part of the leaders because they have docile followers, who accepts any shit from them

L

And you think purifier is free and there is no production cost to running your purifier?
What about maintenance of your purifier?
Why is pure water sold for about #20-50, why not #5 that it once was?


BTW, how much is cement bag sold in your area. I hope it is very very cheap because
we have local "purifier" for cement.

Thomasankara:
[/color]can the house of assemblies needs be tended to, without bankruptcy?[color=#770077]

If you don't understand my post.
Just pretend you didn't see it.

Okay.

ezechi242:
but that would have been the price if the lilly hearted jonathan had implemented it

You are just like the NLC leaders, arrogant in ignorance.

BigYash:
Akpabio buying cars worth billions will make our economy stable.. Infact wasting so much on cars,will make our country far from hitting bankruptcy. You are very correct.

Take a calculator and divide Akpabio's billion, calculate the number of litres it can buy
and how long it will last.
The problem of Nigerians is the gullible people who miss the trees for the forest.
They are just like a man who leave cancer but focus on pimples.
I am sure if another Buhari came around and promise to fight corruption, you will all queue behind him
no question asked.

Why you can't influence Akpabio's action, how about your rep and senator?
The assembly consists of several senators from different parties.
How come none of them including the one from your "right candidate" party have rejected
their 15 million Naira monthly income?

At least one of them, especially the youth should have voiced opposition to this spending, don't you think?

The development came as NLC accused Federal Government (FG) of insensitivity over the fuel price issue, insisting that Premium Motor Spirit (PMS), more popularly known as petrol, can be sold for as low as N150 a litre to Nigerians, with Executive will and true patriotic fervour.

If NLC said this, then it must be manned by bunch of illiterates.
While Tinubu's subsidy decision was rash, it is impossible to sell PMS at #150
giving the current economic climate of the country without hitting bankruptcy in few months time.
Whey #150, why not #20 per litre as obtained in year 2000?

Jbleenk:
The steps Tinubu is taking is what any sensible person who knows his onions would take in light of situation we find ourselves in Nigeria.

A country who spend 90% of her revenue to service debt can’t continue servicing electricity, fuel, fx etc else it will implode.

A sensible person will understand that tact and perception places a very important
role in national economies.
Economies have been ruined, banks have been destroyed due to rash decisions.
What does Tinubu knows about the economy that he is single-handedly driving Nigeria's
economic policies?

And don't mention IMF because those ones are scavengers with zero loyalty to Nigeria.

The OP thinks like Buhari and we all know how Buhari ended up.

nedekid:
Only on naija does nothing make sense.
They said subsidy was killing the economy, we were using scarce income ie dollar income from crude sales to subsidize. Subsidy was causing devaluation of the naira and other tales. They removed subsidy and floated the naira, yet naira keeps crashing to the dollar. As I said some time back, make price of petrol ₦1500 per liter and in few months, they will make it 2000, it is an upward spiral.
The acting cbn governor the other day was prectically saying he did not know what to do again.

Their is no CBN governor!
He is practically receiving instructions from Aso Rock.
If their is a rerun, Nigerians may still pretend not to care about price of fuel.
What gave Tinubu the boldness to cause this hardship is that Nigerians didn't
push back when all of them were promising to crash the economy by removing fuel subsidy.
If at all subsidy is to be removed, it must be done in small increments.
You don't throw millions of people into poverty because you want to be seen as bold.

delkuf:
but they said dangote refinery will start refining fuel. Why has it not start working. didn't tinubu know that dangote refinery wsant working before he removed subsidy. He must have known but the citizen are the one to be use as sacrifice

Don't be deceived.
Dangote's fuel will be as expensive as imported one.

abhosts:
Ironically, those in power do not seem to have any sense of urgency to fix Nigeria's Economy. Na Niger matter them carry for head 24/7.

I think it is time for the CBN to introduce some capital controls to save the Naira. Most of the strain on the Naira is due to dollar hoarding and speculative buying. The CBN should tax all foreign currency bank accounts accumulating dollars but not spending it within a specific time frame. So if you deposit $10k within a calendar month but spend less than 60 percent of it, you should be taxed 1 percent of your unspent deposit. This would stem the tide against speculation and hoarding.

Where have you been all these while?
This command-based economy don't work.
CBN tried various feel-good measures which eventually backfired.
If you penalize dorm account owners, people will simply stop depositing their dollars.
Even if you fight crypto, people will switch to batter system.

Okay.

Okay.

Zxcvbnmghtr:
What is stopping you from getting the list?! Are you also afraid?

My post was not for lazy folks.
The list of oil importers is actually public! You won't die if you search for it.

Tinubu said he could have asked for his own share of subsidy "scam".
Who exactly was he referring to? He must think we are all fools.

The removal of subsidy has been on for ages. It didn't start today. IMF, World Bank, and other reputable economic and financial institutions have advised for the removal so many times before now. You are pointless with your narrow perspective.

So because fuel subsidy removal has been on for ages, that must make it right?


IMF, "World Bank" are all profit-making loan companies who make recommendations based on their personal interests.
A loan company is interested in repayment of loans and profit for shareholders!

No country has ever developed by blindly following external advice like mumu without thinking about
domestic issues first.

When will Nigerians learn that the so-called subsidy thieves/cabal are boogeymen politician
uses to justify hike in petrol prices?
The reason they can't mention the names of the so-called cabal is because it is all made up.

Any politician talking about subsidy thieves is either foolish or lying.
Companies involved in importing petrol are not secret, any decent journalist
can get their list.

I know some people will start blabbing about corruption.
Is there no corruption in road construction, salary payment(ghost workers),
education and health sector?

Instead of this dubious politicians to say they want to remove subsidy because
they need more money, they lie about cabals and corruption.

They claimed subsidy is a "scam", yet the economy is crashing after removing
the so-called "scam".

tobyjacky:
What dies this man really want exactly

What else does a politician want?

The foolish coup plotters are being pushed to their doom.
If the Tuareg fully embrace arms, how does the junta intend to rule the country
with multiple jihadists and rebels?

I have seen firsthand that the death penalty does not bring a sense of justice or closure to the families of crime victims, and neither does it deter offenders,” he told the Guardian.

This useless neoliberal argument need to die.
If you asked them what deters offenders, they will go mute.

I have also seen that those sentenced to death tend to be vulnerable individuals from deprived backgrounds, who have often experienced deep personal trauma. It was my view that we as a nation were better than this. I introduced these bills because I wanted the courts to cease imposing an inhuman punishment.

They might as well released all criminals in jail since majority are from deprived backgrounds.
They should stop dragging their feet, release all poor prisoners for justice.

Another alpha baby daddy down.

sunboy:
Cfa is essentially Euro, if that explains why it is stable. As long as euro is stable, it will be stable too.

I know Cfa is pegged to Euro, it was a rhetorical question.

ElSudani:
If Wagner ever comes to Niger the same people will be on the streets asking for Federal government to protect them.
These Africans are like pawns in a global chess game and they are oblivious to it.
It makes you wonder what Africans were doing when Europeans decided in Berlin to carve them up and share them like a piece of cake.

They were busy admiring the mirrors and guns they earned from selling their brothers.

Kukutente23:
Well, you should look into the issue very well before you make conclusion.
Local rice was far cheaper than foreign rice, albeit stony and not well polished before Buhari closed the border against foreign rice. When he did, Nigeria was not producing enough locally to meet demand thus scarcity of rice occurred which pushed up the price. By the time scarcity abated due to influx of foreign rice around 2022, the price of foreign rice remained same or almost same with local rice which is what we're still having till today.
So the way out is to bring down the price of local rice by increasing its availability over and above that of foreign.

That is not the full picture.
Local rice of the same quality as foreign rice is expensive to produce and
the foreign rice producers have achieved economies of scale.
When Buhari closed border, foreign rice didn't completely disappear,
it just became more costly because of the extra importation cost; bribery,
seizure and others.

My post is about comparison of the price of imported vs foreign rice not general inflation.
The reason the price didn't crash despite foreign influx is inflation.

Your solution is neither feasible nor sustainable. Who should increase availability?
Farmers or government?
Assuming you could magically increase availability and have a rice glut and temporary price crash.
Commercial rice farmers will simply shift to another industry because it will
no longer be profitable for them and the market will readjust itself.

Nobody invest in rice farming to feed people, they do it profit.
Well, there is one other way to reduce price of rice. Local subsidies.

Assuming this is May 29.

Throwback:
I believe el-Rufai will have a change of heart and accept the nomination.

It is difficult finding effective administrators like el-Rufai who can never be bribed to enrich himself over the need of the country.

Majority of Nigeria's executives don't take bribe.
They either inflate contracts or allocate government properties to themselves and families
just like El-Rufai did with Abuja and Kaduna lands.

Bribery is more of a thing with civil servant, senators and judges.

The problem started when we submitted a letter to Pastor Enoch Adejare Adeboye for prayer on a startup project we are working on called KICK OUT MALARIA in November last year 2022.

You must take us for fools.
My initial assumption was that this is another land tussle issue but this isn't even the case.
I read through the entire letter and couldn't find any cogent reason for the alleged threat to life.
You didn't invent any revolutionary anti-malaria drug or create an effective vaccine to stamp out malaria.

We are to believe the pastor is threatening your life because you wanted to start a NGO to kick out malaria.
Do you know how many anti-malaria NGOs exists in Nigeria and some of the founders are members of RCCG?

Let us assume for the sake of argument the pastor really hates people who wants to fight malaria, why do you have to stay under his
influence? Why not relocate to a neutral place where you can fight malaria in peace?

Rewrite your letter when you are ready to tell the full story because this looks like an hatchet job or psychosis to me.