₦airaland Forum

mrvitalis:
Bro Tinubu has borrowed 12 billion dollars the last time I check

What exact are you trying to defend

Saying I’m defending would make sense because these media headlines seem to be opposing reality. I suspect these are at best announcements of access to apply for the loans at concessionary rates which usually occurs when countries meet certain milestones in reforms. They’re not money in the bank otherwise it’ll be captured by the DMO.

mrvitalis:
Does that matter my quote was in naira right?.

Wnay exactly are you defending

I’m not sure I’m good with teaching but I’d suggest you look up realized and unrealized currency gains & losses. But to help you understand better think through this why would a loan amount increase in local currency but decrease at the same time in foreign currency. Again this means there’s no off-the-shelve 15T loan for you; think of other ways perhaps non-loan means.

mrvitalis:
Plan is 15 trillion I have shown u 24 trillion was borrowed u still asking me how to fund the plan?

If only you’d open the link you provided you would have seen that most of the increment in debt is in naira value which is owing to the devalued naira which is why the debt is lower in USD value if you compare last quarter of Q4 2023 and first quarter of 2024. So there’s no 24 trillion new debt—find another way to raise money.

mrvitalis:
Bro I have told u someone borrowed 24 trillion in 3 months with evidence and you doubt he borrowed 41 trillion in a year?.

If you can provide evidence of 24tn then you should be able to provide the link for 41tn right? If you can’t answer the question then how will you be able to fund your plan?

mrvitalis:
Tinubu borrowed 23 trillion in the last 3 months u are asking me if I have prove

Let’s not act like politicians provide evidence for 41trillion pls.

mrvitalis:
I said the 15 trillion budgeted for the Lagos calabar road

More over tinubu has borrowed 41 trillion so for

Yes I have written my comprehensive plan here

For agriculture my plan is 5 trillion minimum

But conditions just be met

Form cooperative of at least 50 people and have access t 500 hectares owned or on a minimum of 10 year lease

5 must have 10 year experience on the crop u want to invest in
5 must be ready to join the police force volunteer group and be given gun to defend the farm

Loan is 50 million to 500 million interest free first 3 years, 7% for 3 years

First most of the 15tn is credit finance not readily available cash. Do you have any evidence to back of your claim of 41tn as govt borrowings under the current dispensation?

I’m not disputing in totality the advantages in your suggestion but it’s not as simple as you make it seem. For example some of the companies you lend money to might end using the money to buy government bonds instead of engaging in productive value creation businesses which means employment won’t be addressed.

mrvitalis:
This CBN? I doubt

Massive CBN soft loans to key manufacturing sector is the only thing that can save Nigeria

If I was president now

1) I would cancel the 15 trillion naira Lagos to calabar road and divert the money to the manufacturing sector

Pharmaceutical industry would get 2 trillion loan interest free for 3 years then 7% after payment after 6 years

Loan can only be used to build in infrastructure to manufacture what they import or expand what they locally produced

This would instantly create 200,000 jobs minimum and add 100 billion yearly revenue to the government minimum

Do same for chemical industry, and some other key industry

This is how u stablize an economy not by intervention or building infrastructure

pls where will get the 2 trillions naira interest-free loan to dash to pharma sector? I mean if you hand over that much you must be planning to give more to agric? But from where?

SoNature:
Stop writing nonsense. No sensible person makes elective decisions based on the actions of a politician's supporters.

In 2015, APC folks did worse things to Jonathan, but Buhari spent 8 years in office, giving him ample time to destroy the economy and borrow more than all his predecessors combined.

The rule changes the moment an Igbo man is involved.

Why not try a different approach—it’s a game of numbers not morality. If the APC didn’t sell their agenda to other Nigerian including the PDP bigwigs that broke out to join them. How on earth do you think they would’ve won the election? If you can’t convince others to see things from your perspective you’ll keep working in vain.

ciggy000:
There was a circular where govt said they were pulling out from funding these agencies which they can't claim ignorance about. You don't set up numerous professional institutes and bodies without a funding arrangement. Perhaps they should take a clue from institute of chartered accountants Nigeria (ICAN) which funds it's activities from internally generated revenue.

Everyone wants a free lunch

thesolutions:
NNPC pays no subsidy on the product. It only give marketers forex at a reduced rate to import fuel. NNPC is not the sole importer of fuel. If not, why is Dangote complaining about issuance of more license to more marketers.
Dangote is concerned about how low marketers are importing the product. That is why he is blackmailing them of importing substandard products.
Marketers were expecting Dangote to crash the price of the product but he has been stifneck about those cries and want to dictate the market price of the product like he has done to diesel.
This recent complain about marketers could be that the refinery now has excess product and is counting on blackmail to involve the government in bearing some unnecessary burden in the name of subsidy. He wants government subsidy and our foreign exchange. That is selfish. People were counting on him.

I think I read NNPC is the sole-importer through Duke oil; my suspicion is that exchange rate for fuel-petrol imports are fixed say at N800.

helinues:
Address concocted epistle?

Illogical concoction 24T at N1000/$ is $24B---can the OP tell us who the creditors are that took $24bn off the shelve and handed it over to PBAT in 3-months?

phantom:
Why are you so dense? Is a sworn affidavit of defection not a document? And a very powerful one at that. Why do you swear to an affidavit when you lose important documents and certificates? An affidavit is a VERY POWERFUL DOCUMENT OGA!

Those 27 lawmakers took the necessary steps to defect at the time because they thought it would buy them favour with Tinubu. If there was a benefit to be gotten as APC members, these same lawmakers will tender that same affidavit they swore to ON OATH as evidence of APC membership.

Now remember, proving they left PDP is different from proving they joined APC . APC can claim they are not their members but it behoves on oko jumbo lawyer to prove they HAVE LEFT THE PDP.

If successfully proven they've left the PDP but its proven they haven't yet joined the APC, then they are party less.

Now, do they have support from PDP saying they never defected? Yes! That's where they have a case in which case I expect oko jumbos lawyer to prove they lied on OATH by swearing to am affidavit of defection when they haven't defected.

Is an affidavit superior to the law?

phantom:
I agree.. Odili is a mafian! Odili was the one who taught all these guys politics in Rivers state. Odili was together with his wife, the one who backed wike against Amaechi.

Wike blackmailed Tinubu in the run up to and after the elections. AFTER the elections, Tinubu wanted to dump him but insiders say Wike visited Aso rock screaming at Tinubu and threatening that after all he did to deliver Rivers for Tinubu wanted to trash him like a used rag.. It was a few people who advised Tinubu to appoint him for peace to reign.

Knowing Tinubu, he hates to be held at the jugular by any man, wike not being an exception.

I won't be surprised if Tinubus hands are in this quagmire!

Assumptions

lastkingsman:
You ended saying nothing. A complete and compound idiot. Get off my mention osiso

God bless you!

lastkingsman:
Which investments? I don't what cocaine you guys are taking. Multi nationals are leaving and about 767 companies shutdown in the last one year according to MAN. Rebase fire

Do you currently earn the same amount you were earning in 2015?
It’s okay not to understand how the economy works but instead of exposing your ignorance why not use the opportunity to illuminate your ignorance.

lastkingsman:
I tire for these people oh. No be only 1.5trn USD economy. Lol

It’s a normal thing to rebase because capacity to produce increases with new investments, which leads to higher income and more income should bring about much more investments (expenditure). But I doubt we can get to 1.5tn with the current exchange rate except if there’s significant appreciation to 500-600/USD.

Anunakeeh:
I have always know this guy no too get balls. He just dey lucky say bulaba upgrade him status.

It seems that the removal of the PSC chairman a few days ago was primarily due to this issue. Hopefully, this change will bring some much-needed sanity to the recruitment and discipline within the force

0001Lagos:
You talk like a little child ..

Which factory uses prepaid meter with all those heavy equipments ?

You're not even exposed as person, you're probably still living and feeding off your parents.

Can Cadbury operate on prepaid meters?

Can dangote Total operate on prepaid meters?

Even big hotels can't operate on prepaid meters talk more of Multi national companies with heavy duty equipments in their factories .


You're still a little child still feeding off your parents so don't talk when MEN are talking .

You are correct that most corporates operate on post-paid arrangements with discos. However, the question remains: why are they shutting down now, despite relatively available and cheaper power in band A areas (compared to alternatives-diesel) ?

Autodidact1:
He doesn't need to bribe the court, he already bribed the government that's why they allowed him to be sworn in. It's a bargaining chip they will always use to blackmail and control him. It's not surprising that everything he did on assuming office are according to IMF, Worldbank etc.

Do you think america would have incriminating records of a presidential candidate if a country as strategic as Nigeria and not use it against him? They will use it as a

Do you think if Uncle Sam has anything on you it’ll be in public domain ?

SoNature:
EFCC may have their faults, but those faults don't make them useless. The day yahoo boys will defraud you or your loved ones, you will understand how important EFCC is.

How exactly is this action of the agency a deterrent to others?

RealTrump:
As an Abuja resident, Wike has done very well in the last year.

But the man does stupid things sometimes and this is definitely one of them.

Permanent secretary are not your political jobbers neither are they your paid online miscreants.

In the scheme of things, permanent secretaries r not the mates of a minister...how many of the current minister knows a thing about the portfolio they hold?

When Umahi tried this rubbish by locking out workers at works ministry, they locked him out too the next day. Nobody told him to behave n understand this is not his children

If you were asked to choose between bowing in gratitude and being stuck in the same career spot until you retire, which would you choose?

grandstar:
Agora is right.

However, the re-emergence of the fuel subsidy and refusal to deregulate the price means the government will spend close to 6 trillion subsidize the price.

The cost of subsidizing petrol goes higher the more the Naira depreciates as petrol prices are denominated in dollars.

The oil and electricity subsidies simply have to go.

Since NNPC is the sole importer, I suspect the current intervention is via a rather static foreign exchange (FX) rate; that is, they are buying refined fuel at a static rate of N900/N1000 per dollar, which is responsible for the relative static price of petrol. If the expected appreciation of the naira in the near term reduces the exchange value to the 900-1000 corridor, the subsidy on Premium Motor Spirit (PMS) should be close to insignificant.

Rich4god:
I hope the govt are not counting this as an actual revenue, cos gain through exchange rate is not a "real gain".

When does it becomes real?

zombieHUNTER:


It took Buhari eight years to take Naira from 260 to 700

It took Tinubu one year to take it from 700 to 1500

There's levels to incompetency

Tinubu is the king of Mumu people

Basic arithmetic

Kanixt:
What did he contribute in recent times, besides attacking the weak(Jonathan) and the good one(Obi), but silent in the face of tyrant (Buhari) and wicked one (Tinubu)

Wicke we are not on the Same page with you this time, maybe next time

and you’re the objective one?

Yankee101:
Ever heard of a banking bail out?

The loan portfolio for here reach yankee?

The FEDS bailed out several banks but guaranteed the deposits. You pump in money, convert it to shares, take over majority holdings and fire management and put your own people. If you close banks due to none performing loans no bank will remain

Is that not how heritage itself came about? Why should he continue throwing money down the drain?

Yankee101:
Cardoso clearly doesn’t understand finance
You’re battling with inflation, devaluation and financial uncertainty and you’re closing banks with peoples’ money trapped within

There’s the option of mergers, recapitalization, management restructuring etc

Shutting it down means killing some people literally. Some closed banks payout never happened for more than 10 years

Are you saying you’d have preferred he keeps the bank running despite their huge NPL?

Iceberg3:
And they are entitled to that,their state,their business,their affairs.

Certainly, they are entitled to their state business. However, if this proposal is to fly, Lagos State must forgo all areas presently under its jurisdiction that were previously part of the Western Region. Let us see who will ultimately laugh last.

Deemas:
Tell me we ain't jocking over all these?

Is hunger a joke to you?

Sultanofpiglets:
I am proudly IGBo and I will say it as it is. How can I be loyal and submissive to an Elder or elders that mortgage the future of my lineage to poverty and penury? Make bad decisions because of bigotry and nepotism?

According to the Yoruba narrative, we should respect elders like Tinubu, Soyinka, Aregbesola and co. Who used ethnic bigotry and vile Propaganda against perceived enemies like IGBOs and their aspirations? We will NEVER respect worthless elders who are greedy and self centered.

I will be proudly IGBO because they tell the elders about their shortcomings to their face. In IGBO land you only OWE your direct parents 100% loyalty and that is because of their status. Any other person as an elder will be treated as they present themselves.

If you are a foolish elder in IGBO land you will be rubbished..if you are Noble and Just , you will be elevated.

Even Kings and Titled men that act with nobility and are just in their actions and utterances are elevated and respected immensely. Even if you see these kings they are normally very humble and humane to their subjects because he knows the real power in IGBO land resides with the people.

If you are a King and you are arrogant and unwise in your utterances and bullish in your actions. It's the citizens that will remove you either by brutal force of they will make your reign worthless and disregard all your activities.

All this Nonsense lamentations, by Yoruba, gave rise to supporting Awolowo's genocidal actions against IGBOs during the war. After the war same Yoruba decided to mortgage the southern block for Northern political affiliations. This is recently replicated by TINUBU and his gathering of worthless noisemakers.

All I can say for a fact is this...

TRUTH knows No Age or Tribe and can be very brutally honest and BITTER.

If IGBOs say it as it is .

I Will WEAR it as a badge of Honor!!

IGBO AMAKA

Yet comparatively the governors from your region have turned out worse compared to those from SW.

@OP What's the tax rate paid by these schools that you claim are over-burdened by taxes?