₦airaland Forum

DeepSight:
Many countries do And I didnt mention a particular country, but in the USA - many states do.



One thing I can easily point out is that monies for subsidy were budgeted up till the end of June but the frog removed the subsidy abruptly one month before in his inaugural speech. No one does that. You cant make such a significant policy change only minutes into your administration. You need deep and wide consultation and advise for that move. You need to study the system.



You are the delusional one if you dont know that Nigeria is a wealthy nation which has simply been stolen blind and badly mismanaged.
It is still a wealthy nation - wealth is not cash. The resources available to us are still not being intelligently managed.

So by your illogical reasoning, Nigeria should go out and borrow at neck breaking interest rate to pay subsidy.

Even wealthy nations that can afford it are not paying subsidy.

If Nigeria is a wealth nation, she should be part of the G7.

You are delusional. When you have great resources and you cannot transition it to wealth, it doesnt make you wealthy, you only have great POTENTIAL.

Now, Tinubu is setting us in another direction, retooling and rekitting the nation.

DeepSight:
It is a pity tht a day has come when we can possibly miss one of the worst and most illiterate presidents in the history of the world.
But here we are.

We have been gifted with a thoughtless insensitive demon straight from hell who is an errand boy for the IMF .

With your moniker being "DeepSight, I was expecting a great deal of "insight".

At bolded says otherwise.

DeepSight:
There is subsidy in many forms in most of the countries you have in your imagination. And there have also been efforts to remove such subsidy in many such countries. Believe me, I have researched the matter carefully. In no country, except Nigeria, has it ever been done the way it was done here. No country .



In other countries, the worst you had was about 30 - 35 % increase over a period of about a year or two years.
Only mad people do a 200% increase in one day.

Mad, irresponsible, illiterate and suicidal people.

I challenge you to mention if either the US, UK or Canada - the topmost countries you always rush to mention - subsidise fuel ?

You still dont get it, Nigeria will have that "jump" because there was no money for any form of subsidy, and while other countries were making incremental jump based on international market price, Nigeria was paying subsidy on her own fuel, and selling below the international market price So it was reasonable that when Nigeria wanted to be at par with the rest of the world, selling at the international benchmark, there would be a signifcant "jump" as catch up.

Buhari knew Nigeria was broke and he did not make provision in the budget for subsidy. This was the budget passed on to Tinubu.

You think Nigeria is still a wealthy nation? Don't be delusional, that was then.

DeepSight:
Looks like you are accustomed to gutter language. I don't have the time for that.
Listen: the only reason we got here is corruption - not subsidies. The said subsidy was bloated and inflated by corruption.

Research. The increase in petrol prices by 200% in Nigeria in a single day was a global first. It has never happened in history in any other country before. And no country does that. No country. Only in mad Nigeria does such lunacy happen.

I repeat: the issue is corruption - not subsidies.

You speak as if the subsidy being paid was a proper amount in the first place and that it simply naturally bled the country dry. That was not the case. Corruption did it. Otherwise there is no way the cost of subsidy would jump from under 300 billion to over 6 trillion in a few years. If that is not black magic, I dont know what else is.

You have lost your compass. You have lost your sensitivity. You dont recognize protestable issues anymore.
You will be killed by your government and while the knife is going through your throat you will be shouting - like Boxer in Animal Farm - "Napoleon is always right!"

I quote you - The increase in petrol prices [color=#990000]by 200% in Nigeria [u]in a single day

It wont happen in other countries because these countries have been selling at the international market benchmark while Ngeria has been enjoying susidy. We have never bought at the real cost of petrol as obtainable in other parts of the world.

So, there had to be a jump.

omohayek:
Three things can help, namely

1. Cardoso commits to a much lower rate of inflation (say 5%) and shows he means business by hiking interest rates until they are no longer negative in real terms (that's what Russia's central bank governor, Elvira Nabiullina, did when western sanctions were announced).
2. Tinubu publicly commits to a large-scale, rapid program of privatization, showing he means business about bringing down the FG's spending (and giving the unions reason to think twice about demanding wage hikes that will make the problem worse).
3. Instead of wasting effort on chasing "hoarders" and encouraging an impossible "self-sufficiency" in agriculture, existing restrictions on food imports should be lifted (other than for safety reasons), and import duties slashed, so the masses have access to cheaper food. Even in Nigeria, there are many more buyers of food than there are commercial farmers, so it makes no sense to harm the former for the sake of the latter.

Let me expose the folly in your solution with questions:

1. So at what rate will the importers exchange naira for a dollar to import food? If a dollar is exchanged for 1500naira, plus logistics and profit, will the food still becomes cheaper and affordable?

2. When the borders are opened, wont there be an increase in the number of importers? If yes, what will happen to the dollar-naira exchange rate? Will it come down or go madly up?

In those questions lie the folly of your solution, Mr armchair CBN Governor.

Menclothing:
Most of this people don’t read or should I believe we have so much illiterate with data

You want to import everything and want the cbn gov to do magic lolz

In one of my posts, I indicated what you mentioned here.

The greatest challenge this administration has is a lot of ignoramuses parading themselves as "smart" citizens.

God1000:
You're not a good CBN governor

Since you know a good CBN governor from a bad one, what would you have done if you were made a CBN Governor today?

It is time to subject the content you have in your brain under scrutiny. Let us know that thing in your head which will make you a "fantastic" CBN Governor.

Now, you have the floor...

Gajagojo:
Just open your mouth to yarn rubbish

Remove subsidy gradually?
Which subsidy?
There was No money to pay subsidy.
As of May 29 2023 The government was OWING subsidy money and servicing debt with over 90%_0f revenue

The government had. NOT BEEN ABLE TO PAY subsidy since January 2023
The government was broke . Even the oil being drilled had been sold in advance and the money spent.

So any talk of reducing subsidy gradually is unrealistic and childish
The only way to do that would be to borrow and those willing to lend Nigeria were non existent except the IMF.
The IMF will not lend you money for subsidy
When you need to borrow from the IMF you are screwed
There was literally no money to pay for subsidy.
Even now as we speak the government still owes NNPC subsidy money
All the money borrowed from Added in recently $3 billion is conditional
NOT FOR SUBSIDY

no one will lend you money for that

Thank you my brother.

Majority of Nigerians are still under the illusion that Nigeria is a "Wealthy" country.

A country that has been looted blind.

Where is the money that Nigeria will use to pay for subsidy. Nigeria is a broke country as it stands.

AllTheWayUp:
https://www.facebook.com/share/p/SWA5JsocUsPKyARE/?mibextid=Nif5oz

I applaud Atiku for at least putting it on record what he would have done if elected as President. That woman-sounding man, Obi, is all over the places like headless chicken.

Atiku's idea seems funny though. He was against both the fixed and floating exchange rate but he would ask CBN to be intervening on daily basis, while admitting Nigeria has low inflow of dollars. So, by implication, Nigeria will be paying the differential in the true value of dollar to naira. Nigeria will be using our limited income to pay the differential. Really?

How will he then achieve his manifestos? Where will the money come from? So, all our limited inflow will be used to defend the naira? Road, education, healthcare etc, where will the money come from to bring them to shape? How will he even pay Federal workers salary consistently? By borrowing at high interest rate?

Lastly, Atiku happens to be part of the people who looted the country blind. Some of the dollars that Nigeria realised developed wings to fund all the houses he bought in Dubai and other business enterprises in other countries.

This is a classical case of a thief who stole a pot soup turning around to accuse the person he stole from why he does not have soup at home. Sadly hilarious

greenermodels:
if Peter Obi removed fuel subsidy,we would have seen the money been saved instead of borrowing and printing more money, He would have drastically reduced the cost of governance instead of moving from Dubai to France with a bloated entourage costing billions of naira,he wouldn't have over a hundred car convoy, he would have auctioned off the presidential jets or hand them over the military, he wouldn't buy a presidential yacht, he would have tackled the Fulani militia and returned displaced farmers back to their farms as he repeatedly promised during the campaigns,he would have invested heavily on productive ventures like Agriculture and industrialization,etc

Talk, they say is cheap.

We can only judge him based on his performance as Anambra State Governor.

The outcome of such exercise is an open secret

Ezmans:
petrol 700 naira

Get educated guy.

Nigeria cannot sell petrol below the international benchmark price. Nigeria will need to subsidise heavily.

Even as at now at 700 naira, Nigeria is stll subsidising. Imagine the amount of naira that Nigeria will be subsidising if petrol is still being sold at 180 naira. Right price without subsidy for now is 1500 per liter. Do the maths. The equivalent amount (even more in some instances) in dollars is what is being paid in the western nations that you always rush to quote. Nigeria will just ka-boom if we continue paying subsidy!

You expect your refineries to be modernised, productive, to produce high throougput, to be well run and efficient, yet you are asking Nigeria to sell below the international price.

Tell me how Nigeria wont have a budget deficit, tell me why smugglers wont be encouraged to cross border to sell at high cost.

Do you guys really understand the implications of most things you are always asking for?

I met one guy, who claimed to be educated and was saying during the regime of Yaradua, price of petrol was below 70 naira, that Nigeria should be able to sell petrol at under 100 naira being an oil producing country. I just laughed at his ignorance.

coleon:
You can only fool yourself and your fellow zombies not someone like me.
I won't even go to the military days and what the wonderful things they did.
3rd mainland bridge is the longest across water bridge in Africa and was built by the military and till date no civilian government has a project that can match that.
Coming to civilian government Obasanjo's PDP brought GSM revolution to Nigeria and had Nigeria's debt totally forgiven, meaning that we had zero as a nation as at 2007 while Jonathan left our debt at less than NGN10trn.
Today the useless people you are supporting took Nigeria's debt profile to over NGN70trn in less than 8 years with nothing to show for it and even pledge our oil sale for the future.
I have never seen any APC zombies with sense, but even your own senselessness dwarfs the one I've seen in the past.
I am done arguing with a fool so people can know the difference.

When you realised you have reached a dead end with your defence of the military, you typed out the bolded.

Your kind starts insulting when you have nothing else to defend your case. Empty faculty. Pathetic lot.

You are screaming for military intervention, yet you were singing the praises of civillian "Obasanjo". Confused soul.

Your write-up exposed you as an half baked graduate. You need lot of catch ups to do.

BigDawsNet:
Yes, I wasn't born yet... I don't forget say na u be my papi.

We need military, they are worst but better than democracy

With military = Insecurities can't survive

With military = no politicians can steal without consequences

With Military = they understand human feeling because they sown an oath to keep the citizens safe

Nothing anything can say... they are better than Democrats

You typed like a child. It is so unfortunate. I will respond to you...

1. Is it politicians that are currently fighting Boko Haram? The set of military you have are most business men and contractors.

2. You asked for a military regime, you were still typing - "no politicians can steal without consequences" You are confused. The military will loot recklessly and you cant take them to court as the constitution would have been suspended

3. Military understand "human feelings". You are a joke. Military are trained to kill. To show no mercies. Go and ask your uncles what happened during Abacha regime. If they see you gathered together in group of 4, you would all vanish without trace.

Do you still think you are making sense? I advise you to sit this discourse out, it is way beyond you.

coleon:
Na waoh, APC zombie will never cease to amaze me.
So military that left power 25 years ago is still the one you are blaming for Nigeria's problem today.
Wow!!! I'm ashamed for the people that gave birth to you.

I wont insult your parents, because I was properly raised but its quite unfortunate that I share this space called Nigeria with retard like you.

So, you do not know that a Nation can pay the price for action taken years ago ?. All the oil windfalls (dollars) that Nigeria made during gulf war which ended up in IBB pocket, Gowon did not know what to do with money, he backdated (100% increase for 12 months ) increment in worker's salaries (Udoji Bonus), wasting our Dollars in the process, OBJ spent recklessly hosting Festac 77, Abacha turned CBN to his personal account, spending our dollars anyhow just to mention a few.

The greatest problem this regime is facing is sheer number of ignoramuses and docile citizens that we have, which is caused by poor education, just like you just demonstrated. Ignoramus can never understand why certain actions are being taken and the possible outcome of that action. They can only wail, shout and scream to high heaven for no good reason. They bring nothing of value to the table except their tears

surgical:
batangas was there for 8 years,gowon 9 years muritala 6months, they did well it is civilians that wants to take over power that are inciting people, if we compare their time,with this civilian we have now they are far better

You only immersed yourself in history without understanding deeply what happened during those period.

Nigeria was a truly "wealthy" nation during these periods, and that was the best time the foundation for the country should be properly cemented. It was the time Nigeria should have good savings against the bad days.

People praised these heads of state because Nigeria was living like a prodigal son, and the citizens were cheering them on.

Now, it is back to reality and there was cry and gnashing of teeth.

Our democracy would have evolved and matured but the military punctuated it, and once the military tasted power and wealth, they ruined it before IBB institutionalised corruption and Abacha killed off Nigeria.

Basic123:
He told us he would remove subsidy and float naira before he became president and I still voted for him.

I told people who cared to listen then that things will be tough during his regime including my dad.

I will still vote for him again....Not this holier than thou fraud packaged as messiah below

Of course, Tinubu will have my vote in the next election.

Only a mad man does things same way and expects different results.

Nigeria was tilting towards doom before Tinubu came to power. Paying for subsidy with borrowed funds. Who does that,?

Now we have seen that our supposedly "wealthy" nation is actually poor. We have seen that we can't even feed ourselves. We have seen that the country is not generating enough dollars to meet the huge daily demands. We have seen our vanities.

All hands need to be on deck. The governors of each state collecting fat monthly allocation while doing nothing should be dragged. Afterall, the governors know you will blame the presidency for their own inefficiencies.

If you are abroad, and you think you are immune, you are deceiving yourselves. You send money home to either keep in the bank or use to buy materials - you will end up buying expensive materials or your money loses value inside your banks account. You must join in this war as well.

It is now our battle against the elites who keeps stealing our funds. Agriculture needs to be made appealing to our youths. All tier of govt should create environment for industries to thrive. Our insatiable appetite for foreign goods must stop. All tiers of government must enact a policy to stop converting lands meant for agriculture into a real estate!!.

Without all these, no human on earth can lead Nigeria to greatness. Don't be deceived!. Tinubu is a president and not a magician.

surgical:
yet were able to build more infrastructure than the Saint and patriotic civilians

Like I said, you typed like you never experienced military regime.

If you had, you wouldn't even had a wish for them to be close to power.

BigDawsNet:
Military should take over for real

So in your mind, it's the military that will resolve this?

Military takeovers were part of the problems we are experiencing now. They spend recklessly, loot the Treasury and you can't question them because they rule with decree and not constitution.

I guess you were not born when the military was ruling

004gist:
Which politicians? Atiku? Or Peter Obi? Or who?
Why didn't they do it 2019 why now?

The price increase you are seeing now is the mistake Tinubu took immediate he assumed office by removing subsidy instantly and also at the same time removing subsidy on naira.
This 2 act are responsible for all this increase in food prices you see today.

Even in UK here where I stay the government subsidies the transportation system. Like irrespective of where you want to go within a city like a state you spend just 2 pounds and you can buy weekly tickets for 30 pounds and travel 1 million times until the ticket expires.

The city councils subsidise this product. At times the buses do go on strike just to increase prices and government don't allow that.

What about the education sector? The government placed a cap on that and subsidies it for the education system, placed a cap of 9000 pounds on it and only allow them to charge international student anyhow


But now the government of Nigeria is now considering removing subsidy on electricity and if problems comes now they will tell u it's opposition

The UK government ONLY did the bolded in January to March, 2023, capping all singe fare 2 pounds.

tony0806:
The ONLY reason Buhari closed the border was to encourage local producers. But unfortunately, local production can't meet consumption. And the little products available has much demand on them. Simple economic theory shows that price will definitely go up. The best and easiest solution is to open the borders.

The increase in price doubled after Niger republic border was closed.

Your solution was the worst solution.

If importer wants to bring a product down, he will change money at the prevailing forex rate and the goods will still become unaffordable when they hit the market.

Simple economics

tony0806:
The ONLY reason Buhari closed the border was to encourage local producers. But unfortunately, local production can't meet consumption. And the little products available has much demand on them. Simple economic theory shows that price will definitely go up. The best and easiest solution is to open the borders.

The increase in price doubled after Niger republic border was closed.

So you never knew that the reason why Buhari closed the border and stopped CBN from selling USD to rice importers were:

1. To stop putting pressure on Naira
2. To encourage local rice producer to compete favorably well, so that we can buy rice locally without putting pressure on naira to import rice.

When too much naira chase the dollars, the dollars go up - law of demand and supply.

lexy2014:
how will opening border make dollar reach 5000naira a dollar?

So you dont know that when borders are opened, demand for dollars, CFA etc will reach the roof and the naira will be in decline.

Why did you think the Govt close the border in the first instance?

Ekpenuwa:
All what the Presidency need to do now is to Open Borders and Create Agency for controlling Food Price that's all because our Northern have all decided to increase food price so what presidency need now is Borders Opening..

Can you guys be reasonable for a second?

Open the borders so that Naira can reach 5000 naira against dollars.

Do you understand demand and supply law at all?

And in your mind, you were advising Nigeria Government

HonNL:
Sky News

Reverse psychology

Ogiame:
Few days ago, it was Alomo bitters, Erujeje, Igboya, and Take Me To Hospital sachet gin these people are planning to ban...

This morning, we read of some people being flogged mercilessly for a loaf of anus tearing bread (3 strokes for 1 loaf)


Now, you guys are planning to ban betting wey guys take dey see front.


Maybe tomorrow, it will be the banning of condoms. (Na there people go gather for me and the useless Tinubu)


This E bi pa wa administration ehn.

Do you even understand the difference between Presidency and legislature?

Government must step in to regulate AI.

Its power can be amazing and destructive at the same time.

I believe public will not have access to the full fledged power of the AI.

Perhaps the 3rd or 4th-tier power will be accessible by the public eventually.

femisplash:
Removal of subsidy, floating of the naira, removal of FX arbitrage, investigation into CBN finances, stopping NNPCL from receipts of oil revenues, restructuring NNPCL, gas revolution and expansion, rehabiliation of refineries, decentralisation of electricity, rehabilitation of Ajaokuta steel, increased states's FAAC allocations, constitutional review, etc. The President is systematically retooling and refixing the structure from its core. For far too long we have lived a fake lifestyle and false economic realities, an import-dependent country with little or no buffer whereby 98% of her revenues services loan facility and parasitic subsidy payments. Those nations we help develop their economy through imporation with scarce FX, had at a time in their history gone through similar or worse sacrfices and economic turbulence. The current surgical economic and structural revolution is for the greater good of the country.

I can bet you will be insulted on this thread.

The most annoying thing is mentioning Peter obi as if he would wave a magic wand if elected.

Nigeria has been appearing rich all this while. The reality stares us in the face now.

junketer:
We don't like paying tax because we know there will be no result when we pay tax. Here that i am right now, people pay water bill, electricity bill, refuse collection bill, toll gates and all the other charges and they are happy to do it because all these things are made available to them. In nigeria, we pay toll gates for roads that are death traps, pay electricity that we never use. The government should make these things available first and people will pay for them.

Going by your analogy, you don't have right to demand good standard of living in an environment you do not contribute your own quota.

Thissystem:
https://dailypostngr.com/2024/02/breaking-apc-lawmaker-59-others-seek-change-from-presidential-to-parliamentary-system/

Can't we evolve our own system that works in africa?

A sort of hybrid system between parliamentary and presidential system, which will align to who we are.

Must we always use a system that is tailored to work for the whites?

Scoutvibe:
The reason I will not blame you is that you are not in Nigeria. The politicians still getting richer and poor more poorer. I get sister and a brother in UK currently and I know that they tax them in every thing buy still yet they lived comfortably. Here 30k minimum wage what will it do for a family man.
You don't understand and you will never understand. School fees sky rocketed yet the same 50k will fund it.
And you don't ask your self why all those in parliament are not that rich. Here common local government chairman will ride expensive cars.
You won't understand but don't praise this government for any reason because if u earned 40k you will understand better.
My sister monthly salary is 2k her house is 700.

I am not supporting the President. They all contribute to the downfall of this nation.

Just saying the country is badly structured, and the constitution does not help the poor.

Lot of things need to change, and the Governors need to share in the blame.

tnerro1:
You come home one day and you tell ur children that am not buying pizza anymore cause it is draining our resources, so “ pizza is gone”.

Then you go out and get five side chicks and buy them jeeps and houses and you go home to tell the children to manage cause we are a “ poor country/ family .

Is it the buying of pizza that is making u poor or the mismanagement of ur resources.

I get work tomorrow, good nite.

That was a wacky illustration you just made.

The President cannot go against what RMAFC determines.

It is an impeachable offense.

Understand how your country is structured and know who determines what, then you will realise that some of your governors suppose to be dragged for something that you are dragging the President for.

northbird:
Why are the politicians getting jumbo salaries and allowances? They are Nigerians too.

Do you want to blame Tinubu for that too ?.

Political office holders remunerations are decided by RMAFC.

The constitution is skewed, and the Senate and House of Rep who can change the laws are not ready to do so because it favours them.

The President is meant to agree with everything written in the constitution even if he does not like it.

Not everything ends with the Presidency.