₦airaland Forum

Racoon:
The limits of tyrants is determined by the resolve of whom they oppressed." The Orwellian anima farm era is here again

Tell her to present her evidence in open court—if I were Senate President, she would never be allowed into the chambers unless she brings that evidence forward. This fight should be about the future; you cannot make baseless allegations without proof—it’s wrong.

cola:
Oh, come on! Get an education!
Economy is recovering or more fund available now means everything should be paid for out of pocket?

If you had some financial education, you'd know that even if you earn a stable 10 million naira monthly , and you are are able to get free financing for a car or a house, you'd betray your education not to take the financing...

Would you rather save for many years without spending your 10 million on recurrent needs (children fees, feeding, health needs) because you want to pay for a 250 million naira house out of pocket, or you would rather get financing that gives you benefit of owning and using the house immediately while repaying the loan over several years...

It's even especially so for a business or a government...It's called a leverage...It ensures your cash flow...and cash flow is king!

This just shows the average Nigerian doesn't exactly do business; they just find a way to get inflows without actually delivering value to customers. This subsidy removal will ultimately make everyone think through the value creation process—no more free money, compete or lose revenue. This is core of the drama with Dangote and oil stakeholders.

Denalarian:
The masses are now experimented on.. we'll, there isn't any difference with the Buhari's regime. Always making it seem like the Nigerian people dont deserve to live properly

I see this differently ---a government that is responsive to the people's yearnings.

chimex38:
Thought CIT was way less @ 10%
Next year it's gonna be about 30% if I am not mistaken..
Why 52%?
Does he have accruals?
It's gonna be brutal for him next yr with this new Tax act if old tax rate is sucking him like this.

Perhaps he’s referring to total taxes and levies paid to the government as a percentage of the company’s dividend payouts.

chidiokay:
Buhari did not owe pensioners, and i think jonathan did well by pensioners, Tinubu is the problem immediately he was sworn in the first fund he withdrew was pencom Fund

He has every right to his political opinion, but that doesn’t diminish the economic validity of the idea he presented at that time. What you really need to consider is this: How will you fund government palliatives and interventions during a period of sharply reduced income and global turmoil—when you can’t immediately access loan markets, yet your people need support now? Every country faced this challenge and mostly responded by printing money. If you have a better solution, please share it—we’d all love to learn from you.

givedemwotowoto:
You’re being too emotional. Use logic and answer this: Is it safe to say Tinubu destroyed Nigeria’s economy under Buhari’s Presidency, and has continued from where he stopped?

During the height of COVID, countries took necessary measures to protect their citizens. Someone had to fund the palliatives while many were unemployed—you need to think this through. Using this hardship as propaganda weaponizes the people’s pain. Like naira scarcity, COVID-19 caused widespread hardship for all.

Streetinvestor2:
But I saw in the link that SA want to even make thr own 247.
So are u saying we don't have the capacity to add extra 3 hours to what we already have.

Does any stock exchange currently offer 24/7 trading?

I don’t get why they like to owe pensioners FG and wowing states should do the needful! Makes zilch sense

What caught my eye is that allocations jumped from ₦2–₦4 billion to ₦30–₦40 billion — a massive increase. Even after adjusting for FX rates, it's still significant.

chimex38:
Yes Govt policy is a factor. But most are directly non-implementable without a fight with the same govt. So what's the essence.
It makes it look like just paperwork.
Dangote has spoken more words publicly in the past 2yrs than he has for his other businesses.
Cuz he's fighting internal Govt cabals, corrupt distribution chain, outdated status quo that benefits a few, etc
Despite the the govt policy via PIA act.

Our electricity has been deregulated, it's implementation is causing friction as seen with NERC/EEDC/MainPower Vs EERC. Even the natural role model- Ikeja and eko Disco amongst others are watching to learn from the Fiasco..

Or is it the Immigration by the able minister of interior who has tried to transform Visa and passport issuance to be more seamless via online has been fighting racketeering of passport issuance since January 2024; despite issuing the favourable policy and introducing the seamless online platform. The staff still had a way to "manuallize" the process so that "boys must chop". The online marketing and process and the entire policy transformation seem like just propaganda..
2 yrs after issuance in January 2024. This is September 2025.


If he enters these areas of Electricity, mining, ranching, immigration, steel, etc with good govt policy on face value, we will feel the impact
of the actual reform at grassroot.

Navigating The internal nuances(cabals, stagnant status-quo, corruption,etc)are as bigger and cumbersome than just reforms and policy.
He actually does the transformation and policy implementation with his usual slogan:
"I have been fighting all my life".
Govt didn't hand over conducting environment on a platter. They want business men to earn it by fighting same govt off if they can.("unwritten nuances:"
That's why I think other Big players are scared to enter some sectors despite all these deregulation policies across sectors; beautiful on paper and you must really be skeleton free.
But not DIL.
That's why DIL is a Republic inside a Republic

The biggest fight for progress — whether personal or collective — is always the fight within, not the one outside.

I think the restatement happens automatically by virtue of the pronouncement, unless the president decides to formally notify the National Assembly to extend the administrator’s tenure.

GoodSerpent:
Cassava is cheap in the market, coz most specie will rot in the soil if you didn't harvest them when due, hence purchasing power is low, so farmers sell at any price available.
That is what happened with my corn and cassava early this year

Higher supply usually leads to lower prices. Or are you suggesting that people intentionally allowed previous harvests to rot in the soil, causing reduced supply and therefore higher prices?

Sukkyy2010:
I noticed the drop in inflation through the Garri I purchased today, a paint of I bought last month ₦2200 was sold to me by the same vendor ₦1500

The impact should be seen in the inflation report scheduled for release on October 15th. The current report, which covers consumer prices from August 2025, is a lagging indicator because it reflects changes that have already occurred.

Jostoman:
An so, we should now go and Fry sand or to go and cook stone. Nonsense.

Are you not happy about this news if it’s true? Do you prefer insecurity or what?

Use this thread as an example: after a couple of pages, you’re more likely to respond to criticism than praise; it’s human nature.

budaatum:
Sounds like an excuse to be stitching your uncut clothe, to me.

Shouldn't you at least wait for a tear to appear so you know where to stitch?

Perspectives — perhaps the tear that was obvious to the landowners who reported it to law enforcement isn’t obvious to you. Either way, if you stitch what’s not torn, you can rest assured the likelihood of a tear is much lower after the stitching.

A popular adage states: “A stitch in time saves nine.”

Your concerns are already eliminated by the sheer number of police forces that’ll be created, which should be at least 37, plus a subsisting federal police controlled by FG, who also controls all other forces. The chances of the instances you mentioned becoming a reality are very low because there are 37 forces, not just 3, and FG still maintains superior firepower and human capacity—likely more than all combined.

Eriokanmi:
Let me start from your last paragraph. Who controls the AG? Who's in charge of the judiciary? If you can answer the 2 questions from the Nigerian context without bias, then it's fine.

Now on the supplementary budget, you don't seem to get the message clearly. The supplementary budget has nothing to do with payment of subsidy to enrich the rich further. The supplementary budget i was talking about was provide palliatives for the hardest-hit section of the society by the removal of the subsidy which the president could have done. He could borrow money later(as he's done multiple times) to address it. Palliatives such as purchase of buses for all states, provision of drugs and equipment into hospltals, empowering the artisans financially and elderly, reduction of school fees in public schools,etc, could have been taken care of, by the supplementary budget but he simply looked the other way.

Despite promising palliatives to be put in place in a matter of months, nothing has been done, 2 years after. Even if he chooses not to borrow to take care of budget deficit, what happens to the proceeds from the subsidy from 2023 till today? Do you and I know what had been recovered so far....? You may tell us, if you do

Using the Nigerian context, I should say the Federal Government (FG) controls the Attorney General (AG) and the judiciary, but then we have seen instances wherein states triumph over the FG in the Supreme Court — e.g., during the cash scarcity saga under Buhari. So, it would be unfair on the Supreme Court to say they are controlled by the FG when there are instances where the FG fails to win there.

A supplementary budget means higher deficits, which is why I asked you: how will the FG fund it? Billions of dollars are not just sitting somewhere waiting for the FG to come and collect them — it's a long process, and the creditors are always careful to avoid defaults. This is why the FG tends to have a Medium-Term Expenditure Framework (MTEF) to guide its expenditures. It's also why Buhari resorted to printing naira, because that's the easiest finance to access — despite its many disadvantages.

I will marry both palliatives and the proceeds of subsidy. Ideally, the state governments should be the ones providing all these palliatives to their residents, because they are the biggest beneficiaries of the subsidy removal. While I do not know much about those rice palliatives, I can attest that progress has been made with CNG. But it appears the greed of the average Nigerian has overtaken the potential benefits.

I think the FG should do a better job of explaining subsidy proceeds. Prior to now, NNPC used to absorb the cost of subsidy either by deducting the difference between landing cost and pump price from oil revenue, or through crude-for-product arrangements — both of which meant little or no FAAC receipts. With the removal of the subsidy, we have seen higher receipts accrue to FAAC. But then, who gets the lion's share? The states and local governments. In fact, under the new tax regime, states and LGs get an even higher percentage of FAAC.

P.S. My initial reference to subsidy was to highlight the net effect of consumption subsidy: that it can only favour the big consumer — not really the poor.

DiamondsAreFore:
So the richest country on earth with the biggest economy is still subsidising fuel for its citizens even in spite of the likely environmental issues which might arise from it.

Meanwhile over here in Africa, the "giant" of Africa was thumping its hollow chest and belowing with glee after their World Bank stooge of a president ended a fuel subsidy of just $4.5 billion a year in a country with some of the poorest people on earth.

Represent $31B as a percentage of the U.S. annual budget, then compare $4.5B as a percentage of Nigeria’s budget for better perspective.

Eriokanmi:
You are sensible with your post. The supplementary budget would have been able to dowse the economic tension a great deal cos he had the opportunity and right to raise it as president. After all, he raised a supplementary budget in other areas too. That shows the height of insensitivity to the sufferings of the masses and act of wickedness.

The supplementary budget would have taken care of the palliatives for subsidy that was removed. How can a president promise palliatives on resumption on an empty budget? Since 2023, he's not revisited that side. Like I've always said, democracy is primarily set up for the masses. Call a prado jeep any amount, the rich can always afford it in any economic situation.

The man has proven several times he's not for the masses. See the osun state LG allocation he's been withholding for 7 months now. Thanks to the adeleke family who have been paying them salary steadily from their pocket. He wanted osun to boil but this never happened. I hope Nigerians are seeing what's happening. If those who voted him dare make same mistake again, they'd see the version 2 of the ongoing economic woes

How will you fund the supplementary budget? You have to be specific, because it seems you are smarter than the opposition leaders who tend to carefully avoid this topic by focusing on how it's done rather than what is being done.

Subsidies often benefit the rich more than the poor; they only make things cheaper for the poor in the short term, at the expense of a better future.

As for the Osun LG allocation, that is a Supreme Court decision—unless, of course, like typical Nigerians, you expect the president to disobey the court simply because the judgment doesn't favor you. Yet you'd cry blue murder if the political gladiators were the ones benefiting from that same disobedience.

mohims:
Aswear! The way the guy the expose Gbajue's hypocritical life ehn. Obidients will always be Obidients. They are trying to repackage a man with a questionable character but if won't work. Everything Reno said about Obi is true. Why is he always quick to comment about any misfortune outside the East but always silent when it happens in his region? Abeg who dey deceive who?

Everybody na hypocrite, just that it's worse with some people—especially for those with public spotlight. You cannot be aspiring to be president yet romanticizing secessionists.

Noblechykk:
Stop saying what you don't know. U.S only negotiate with terrorist in the event of prisoners swap; that doesn't stop U.S from coming after the terrorists after the swap. Note: it rarely occurs

Clearly, you missed the memo on the Houthis and Hamas ceasefire talks—both recently. Maybe try looking it up? Who knows, you might actually learn something.

aribisala0:
There are many layers
1st is rule of law and a judicial system that works no one puts capital in a society with impunity and injustice

2nd what is capital. THAT is a conversation that is too long for this forum

There is an assumption that capital is the dollar which really is just something the US government prints

You cannot gave genuine control of capital without significant financial independence
That means your Central Bank keeps reserves at home in Nigeria
That means keping significant amount of gold . You cannot keep Gold without internal stability and military might

So for now we sell oil and keep the proceeds in US banks
If our government does not behave they can seize the money

It is the same for all African countries

IWe saw how they froze Russian Assets

So Africans need to take control of their gold and develop the security structure to keep gold secured inside Africa

Develop payment systems that bypass the dollar based on gold backed currency


Where is all the Zamfara gold going

There’s a lot to unpack here. For starters, there is no country with a perfect judicial system—it's always a work in progress. So any absolute assumption is mere theory.

If there is an opportunity to make a profit or generate positive returns, people will bring money and price in the associated risk (i.e., the country risk premium), which also determines the volume of capital to be invested.

At the most basic level right now, globally, capital = dollar. I’d like to see your arguments against this—there’s no way around it. What you’re positing here is a far cry from reality. Financial independence is almost impossible, even if converted to gold, as long as the global trading currency remains the USD. I see your point, but it's just idealistic at this stage.

SeeWahala:
So you're using a carrot and stick approach . . . Negotiating with terrorists. . . and yet you advertise it to the media?

So that all other terrorists, ISIS, Hamas, Hazebollla, Al queda etc will come down here and open branches to partake in the negotiation and largess abi?

How many countries have you see publicizing their negotiations with deadly terrorists when they are not in a war?

You ehn. . . The blood of those these bandits kill should haunt you for this your take on the issue ajē

Again, you are exhibiting your ignorance like it's some kind of trophy. How did you think I knew that the USA, Israel, etc., use the same strategy, if it's not public knowledge? Making this information public can also be strategic—to ensure that the bandits are unable to recruit new foot soldiers and to offer hope to those recruits who are looking for a way out as well. If they know there is a chance for negotiation, they may take that option.

Relying mainly on sticks to bring them into line is very expensive. Applying carrots can reduce the cost to both parties—especially the human cost—ultimately ensuring a sort of negotiated peace, particularly for the people.

SeeWahala:
Nigeria is currently THE ONLY COUNTRY IN THE WORLD that actively negotiates with terrorists

And some people feel this insecurity will end? Hahaha 🤣😂

You do not know what you are talking about. Using a carrot and stick approach is a global standard in managing these types of security matters. At some point, governments—including those of Colombia, Nigeria, Pakistan, Israel, and even the United States—have used a combination of force and negotiation, pressure and incentives, to handle terrorism and insurgency.

aribisala0:
The issue is not Tinubu

I do not think he is as bad as Obidients want us to believe
He is not special in terms of ideas , implementation or integrity
He seems focused on the idea of foreign capital and has no idea on how to raise capital internally
I think he has been too soft on Dangote and I wonder what the cost of that was
Dangote even wrote him an open letter which he has never done
The problem is Obi is not any better and in my opinion even worse
This is a tragedy for Nigerians if this is the best we can get

His MOU s with Brazil if well implemented should be a game changer but generally things appear slow

Nigerians have money outside the country he needs to figure out how to convince them to bring it back

What's your idea on how to raise internal capital? That Dangote issue is complex and the govt/regulator needs to thread a careful line IMHO they are not doing badly so far but definitely we need more transparency that opaqueness is what needs to totally dismantled.

destinychildolu:
By now people should be having constant power supply. Howany people have electrical gadgets at home that consume electricity? For most people, it's just for fan and to charge phone and power bank.

What's your point exactly?

This political NLC salary increment is a waste of time and precious public resources—we can simply peg our minimum wage to the dollar and inflation. So, for example, we can peg it at $100 per month, then from 2026, it adjusts based on the average inflation rate of 2025, which could be, say, 20%. Therefore, the minimum wage would be $120 in 2026. This way, there's no need for unnecessary committees and all; government will now be forced to ensure exchange rate stability and low inflation.

Guide777:
Here’s a clean, source-checked breakdown of what’s solid, what’s shaky, and what’s simply wrong in Reno’s post.

Bottom line (first)

He’s right that the “Queen rode in the Emir of Kano’s Rolls-Royce” story fits the evidence for Kano ”

He overreaches when he says the Queen “never” rode in any car provided by Sir Louis—what the evidence shows is that multiple cars were used on the 1956 tour (a UK state Phantom IV in parts of the trip, and an open-topped Rolls in Kano). That debunks the viral “Ojukwu’s car everywhere” claim, but it does not prove the categorical “never” he asserts.

He also misquotes Time magazine about Sanusi Dantata and uses faulty economics to argue there were “no billionaires” for 40 years.



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1) The Queen’s car in 1956: what the record actually shows

Kano segment: The Royal Collection Trust explicitly captions a photo of the Queen and Duke in an open-topped limousine in Kano. This aligns with extensive reporting that the Emir’s vintage Rolls-Royce was used locally. That part of Reno’s post is consistent with primary material.

Other segments (e.g., Lagos): British Pathé’s film notes and the UK record on state and royal cars confirm that a Rolls-Royce Phantom IV landaulette (a UK state car carried aboard HMY Britannia) was used on overseas tours including Nigeria in 1956. In other words, the Queen did not rely on a single privately owned Nigerian car throughout the tour.


Why Reno’s “never” goes too far: showing that the Kano photos feature the Emir’s car doesn’t logically prove the Queen never used a vehicle sourced by anyone else (including Sir Louis) at any point on a multi-city tour. The correct, source-backed statement is: the viral claim that “the Queen rode in Ojukwu’s Rolls-Royce” as a blanket description of the 1956 tour is unsubstantiated; the best-documented cars are the UK state Phantom IV and, in Kano, the Emir’s Rolls.

(Side note: invoking Daily Mail and social posts adds color but they’re secondary; the Royal Collection Trust and British Pathé are the weight-bearing sources.)


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2) “Sir Louis was never the wealthiest man in Nigeria”

What we actually know: Contemporary reporting places Sir Louis Odumegwu Ojukwu and Sanusi Dantata among Nigeria’s richest businessmen in the mid-1960s. Time’s 1965 piece profiles them together; it does not crown Dantata as the richest. Reno’s wording (“acknowledged by Time as the wealthiest”) overstates the source.

What we don’t know: There were no Forbes-style, audited net-worth league tables for 1950s/60s Nigeria. Saying Sir Louis was never No. 1 is an absolute claim that can’t be substantiated with available records—at best we can say he was “among the very richest.” (For context about his stature: he was knighted and was one of the seven subscribers/founders of the Lagos Stock Exchange—hard data points about influence and standing.)


Fallacy call-outs:

Argument from ignorance / over-certainty: Claiming “not even the wealthiest… at any point” exceeds what the sources allow. Absence of a definitive league table ≠ proof of “never.”

Source misrepresentation: Time didn’t name Dantata as the wealthiest; it grouped several tycoons (including Ojukwu).



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3) “There were no billionaires in Nigeria for the first 40 years”

GDP figures: Reno’s 1960s GDP numbers are broadly in line with World Bank series (current US$ around $4–7bn in that decade).

But the reasoning is wrong: He argues that because 1960s GDP≈$4–7bn, a $1bn net worth would be “a quarter of Nigeria’s wealth.” That’s a category error: GDP is a flow (one year’s output), while net worth/wealth is a stock (assets–liabilities). You don’t compare a person’s stock of wealth to a country’s flow of GDP to prove impossibility. Plenty of countries have had individuals with net worths equal to meaningful slices of annual GDP. So his math doesn’t prove his conclusion, even if the practical conclusion (no USD billionaires back then) is likely true.


Cleaner claim: “By USD standards, a 1950s/60s Nigerian billionaire would have been extraordinarily rare worldwide; there’s no credible evidence of one.” That’s defensible without the GDP fallacy.


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4) “Wealth in Nigeria usually comes from the desert or the water”

This is an overgeneralization. Nigerian fortunes historically came from long-distance trade, produce/groundnuts/cocoa, timber, transport, real estate, banking, and later oil & gas, telecoms, cement, etc.—not just Sahelian caravans or ports. It’s a neat aphorism, not an analytical framework.


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5) Two verifiable facts about Sir Louis that matter (and often get muddled)

Knighthood: Listed in the London Gazette—no controversy there.

Stock Exchange role: The NGX (official site) lists “Sir. Odumegwu Ojukwu” among the seven subscribers who created the Lagos Stock Exchange in 1960. (Many blogs call him “first president”—the Exchange’s own page confirms subscriber/founder status; it does not label him the first president.)



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6) Speculation about Emir Sanusi’s 1957 acting-governor role as a “reward”

Saying the British made Sanusi Acting Governor of Northern Nigeria in 1957 as a reward for lending the car is post hoc speculation with no documentary support in the sources cited. That causal leap isn’t justified by the record.


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A fairer, source-grounded synthesis

The viral “Ojukwu’s Rolls” story as a blanket claim for the 1956 tour is unsupported by primary sources; the best evidence shows a UK state Phantom IV was used on the tour and an Emir of Kano Rolls was used in Kano.

Sir Louis was among Nigeria’s richest businessmen of his era (Time groups him with Dantata), a founder of the Lagos Stock Exchange, and knighted—clear markers of top-tier status. Declaring he was “never the wealthiest” is an over-confident claim that the available evidence can’t settle.

The “no billionaires” point likely holds in nominal USD terms, but Reno’s GDP argument is technically wrong and doesn’t prove the claim.

Now this is a logical input —I’ll be back to make a commentary.

WeirdAlien:
That is true leadership.
I know a pastor who handed over his church to the members (who decided on their own leaders) and relocated elsewhere to grow another church. All within Nigeria. This is an apostolic example.

Really? That’s a rarity—pls do you mind mentioning the name of the church—I think foursquare currently has similar structure.

price?