₦airaland Forum

OkCornel:
Remember Okpebholo’s promise to bring insecurity to Edo state?

He’s hit the ground running on fulfilling that campaign promise. No time to waste.

APC has brought insecurity to Edo state.

Another promise fulfilled by Okpebholo

This lamba is for bishop and pastor worshipers

SeeWahala:
This obidient fall hand how dare you dash an agbadoid urchinus 10k for nothing but voting in a drug baron to rule themselves and cause poverty for the rest of their families

He gave him 10k as per kkkkkkkkkk.

As someone who believes in humanity, I’ll support with 5k. Kkkkk

Just another sellout hustling for his daily bread

Same way it will take decades to appreciate Buhari abi?

There are no Levites in the gentile church.

Away with that scam

Salewa97:
Tinubu wife no be ordinary person.

She be first lady and she represent all the women in Nigeria.

So if na student dey insult her, shebi na Tinubu go use am for election.

I support what the school do.

Why do you love worshiping your oppressors?

Food don done for Sowore

The power move now is to earn foreign currency in Nigeria.

Set up your ranch and live like a god.

City life is for clueless peasants.

The ultimate goal is to improve your standards of living.

As long as the company is generating steady cash flows, something can be worked out.

Oshiomhole, you’ve got memo.

Hmmm

bigtt76:
Number 27 though 🤭

Fani Kayode. Lol

Lol, this sellout is exaggerating his sense of importance.

Busted liar

Sad

One mouth less to suckle on looted funds

mikeapollo:
You can only appreciate if you understand how the stocks market works. Dont kill or worry yourselves about the market value of a company because of politics. It makes no sense.

Market value of a company equals the number of issued shares multiplied by the unit price on the stock market.
The price on the stock market is determined by forces of supply and demand based on the perception of buyers and sellers in the market.
The perception is usually influenced by good news, current performance and perceived future prospects of the company (e.g. if price of crude oil is very high). Hence, a company's share price can increase astronomically just because investors believe or hope that the company will do well in the nearest future. And there are several examples in the stocks market.

Oando has 12.43billion shares. It was selling at around N5 per unit around 2022/2023 (i.e. N70bn market value). The price jumped to above N80 around September 2024 (i.e. over 1 trillion market value) when it acquired NOAC. The same price has now fallen to about N50 currently (i.e. N700b market value).
The price can even fall to N30/N20 in future which will make the market value to go lower or it may also rise to N100 or N200 which make the market value to jump to N2trillion or more.
For instance, a serious war in Iran or Iraq will make the price of crude oil to rise and this can make the share price of an oil company like Oando to go up because investors believe it would make more profit. If it does not make the expected profit, the share price will fall again. It is a zig-zag think. Market value is not guaranteed

Oando's market value also jumped to more than N1trillion when it acquired ConnoccoPhillips for USD1.5billion in 2014 and the share was selling for more than N100 at a time. But the price later went down when it started having problems due to fall in the price of crude oil.

And all these things happened under Tinubu’s administration. Not Buhari, Jonathan, YarAdua or Obasanjo.

A very odd coincidence a Tinubu owned Oando could suddenly pull off these moves under a Tinubu presidency. Interesting

mikeapollo:
It is my view that Tinubu is a failure, but don't mix his poor performance with the value of a company listed on the stocks market.
Do you understand how the stocks market works?
It is the traders (buyers and sellers) in the stocks market that determine the quoted value of a company; it is not something that is determined by a president.
By the way Oando's current value as at today 26-Mar-2025 is about N700b. It has dropped from N1trillion since late 2024. Who would you blame for that?

It so happened that the valuation of Oando exploded from 70 billion to 1 trillion naira under Tinubu’s tenure.

Just a freak coincidence isn’t it?

Hmmm

Racoon:
No reasonable person needs Grok inference to know that Nigeria got a very terrible government destroying everything today.

I’d love those propagandists to keep on deceiving themselves.

VnAhunnaPl:
All administrations have their unique challenges.

While Nigerians get poorer for it. 🤷

RepoMan007:
While i am no fan of Yekini and his deranged band of praise singers, i see no depth of this analysis. The main thing we have achieved since May 2023 is floating Naira to reflect its actual value more. Fuel and most things still remain at almost the same level globally they were before floating of Naira.
If as a worker in private or public sector, your buying power has diminished as a result of weaker Naira, it means either your efforts are being undervalued by your empoyer or your efforts cannot command better reward elsewhere on the globe.

Also remember Tinubu’s Oando exploded in value from 70 billion to 1 trillion naira within a year while Nigerians are asked to be “patient” and give Tinubu “more time” for his reforms to “bear fruit”.

Assessing whether the standard of living for Nigerians has improved under President Bola Tinubu’s administration, which began on May 29, 2023, requires looking at available evidence on key indicators such as income, cost of living, access to basic services, employment, and security. As of March 25, 2025—roughly 22 months into his term—the picture is complex, with significant challenges overshadowing some reported gains.

Tinubu inherited an economy marked by high inflation, unemployment, and insecurity, and his administration introduced bold reforms, notably the removal of the fuel subsidy and the liberalization of the exchange rate. These policies aimed to address long-term fiscal issues but triggered immediate economic shocks. The fuel subsidy removal, announced on his inauguration day, led to a sharp rise in fuel prices, with costs reportedly increasing from around ₦200 per liter to over ₦1,000 by late 2023, before dropping to ₦815 by early 2025 following the resumption of local refining at Port Harcourt. This volatility drove inflation, with the National Bureau of Statistics reporting a peak of 34.19% in June 2024, and food inflation exceeding 40%. For most Nigerians, who rely on informal income or stagnant wages, this eroded purchasing power, making essentials like food, transport, and housing less affordable.

Wage adjustments have lagged behind. The minimum wage rose from ₦30,000 to ₦70,000 in 2024 after labor union pressure, but with inflation outpacing this increase, real income has effectively declined for many. Over 80% of Nigerians live in poverty, and reports from sources like Human Rights Watch indicate that millions have been pushed deeper into hardship since 2023, struggling to afford necessities. Initiatives like the Renewed Hope Labour Employment and Empowerment Programme (LEEP), promised in late 2024, aim to create jobs, but tangible outcomes remain unclear this early.

Access to services shows mixed progress. Electricity tariffs have risen—some estimates suggest threefold since 2023—while supply remains erratic outside urban centers. The Nigeria Electrification Project has connected over 5.9 million people to power since its inception, but this predates Tinubu and hasn’t scaled fast enough to offset rising costs. Healthcare and education face similar strains, with public school fees doubling or tripling, limiting access for low-income families.

On the positive side, economic growth has ticked upward, with GDP growth reported at 3.84% in 2024, outpacing the global average. Federal allocations to states have doubled or tripled, and the trade surplus grew to ₦18.86 trillion in 2024, up from ₦6.09 trillion, reflecting stronger exports. Yet, these macro-level gains haven’t trickled down. Unemployment remains high—officially around 5% but likely underreported given the informal economy—and the benefits of increased state funds are diluted by corruption and mismanagement, a persistent issue Tinubu vowed to tackle but has shown limited progress on beyond high-profile suspensions like that of Humanitarian Affairs Minister Betta Edu in January 2024.

Security, a critical factor in living standards, remains dire. Despite claims of “winning the war” on terror and banditry, with over 9,300 insurgents reportedly killed in 2024, mass abductions and violence persist, particularly in the northwest and southeast. This instability disrupts farming and livelihoods, exacerbating food insecurity.

Public sentiment, as reflected in protests in August and October 2024, leans heavily negative, with many Nigerians citing hunger and hardship as worse than before. While Tinubu’s administration points to long-term potential—mechanized farming investments, CNG buses for cheaper transport, and refinery reactivation—short-term relief has been minimal. The promised redirection of subsidy savings into social programs lacks transparency, further fueling distrust.

In conclusion, as of March 25, 2025, the standard of living for most Nigerians has not improved under Tinubu’s presidency and has likely worsened due to soaring costs, inadequate wage growth, and persistent insecurity. While some economic indicators show promise, these have yet to translate into tangible benefits for the average citizen, leaving the “renewed hope” agenda more aspirational than realized.

Hmmm…the final stage of japa?

Also bear in mind that inheritance tax is batshit crazy in the UK.

Salewa97:
Tinubu is the GOAT.

He will do what he wants to do when he wants to do it. We are just here to support and watch the magic happen.

Yes, the GOAT that ensured Oando’s market capitalisation exploded from 70 billion naira to over 1 trillion naira within a year while the masses wallow in abject hardship scrambling for palliatives.

You don’t need a soothsayer to know who owns Oando.

Keep on worshipping your oppressors.

This roforofo fight between pastors is quite pleasing to watch.

Ok

The ice cream seller has spoken well.

Bellotelli:
The decision to conduct crude oil transactions in naira within Nigeria has had notable economic implications:

1. Foreign Exchange Conservation: Traditionally, Nigeria expended a significant portion of its foreign reserves on importing refined petroleum products. By selling crude to local refineries like the Dangote Refinery in naira, the country aimed to conserve approximately $7.32 billion annually, thereby reducing pressure on foreign exchange reserves.


2. Exchange Rate Stabilization: Reducing the demand for foreign currency by settling transactions in naira was intended to alleviate pressure on the naira, potentially leading to a more stable exchange rate.


3. Development of Local Refining Capacity: This policy sought to encourage local refining by providing a more favorable operating environment for domestic refineries, potentially leading to increased investments, job creation, and technological advancements in the sector.


4. Fuel Price Stability: By mitigating the influence of foreign exchange fluctuations on the cost of petroleum products, conducting transactions in naira aimed to contribute to more stable fuel prices domestically.



However, the recent expiration of the six-month naira-for-crude agreement between the Nigerian National Petroleum Company (NNPC) and local refineries, including the Dangote Refinery, has led to a reversion to dollar-denominated transactions. This shift raises concerns about potential increases in fuel prices and renewed pressure on the naira, as refineries may need to source foreign currency to purchase crude oil, potentially leading to higher operational costs that could be passed on to consumers.

In summary, while selling crude oil in naira was designed to strengthen the local currency, conserve foreign reserves, and bolster domestic refining, the transition back to dollar-based transactions may reintroduce challenges such as currency depreciation and increased fuel prices. The long-term economic impact will depend on the government's ability to implement policies that support currency stability and the development of local refining infrastructure.

IMF and some economic vultures do not like this arrangement at all. It must be scuttled by all means.

As if these IMF puppets and sellouts have the balls to pull this off.

I’m just here to keep receipts of false promises.

Just like Tinubu’s fraudulent eight point agenda.

OkCornel:
Progress update on Tinubu’s eight point agenda analysed by Grok AI:

President Bola Ahmed Tinubu unveiled his eight-point agenda in August 2023, aiming to address Nigeria’s socioeconomic challenges within three years. The agenda includes:
(1) Food Security,
(2) Ending Poverty,
(3) Economic Growth and Job Creation,
(4) Access to Capital,
(5) Improving Security,
(6) Improving the Playing Field for Businesses,
(7) Rule of Law, and
( Fighting Corruption.

Nearly two years into his administration, as of March 14, 2025, progress can be assessed based on available data and developments, though comprehensive, up-to-date official reports specific to all eight points are limited. Here’s an evaluation based on what’s known:

1. Food Security
Tinubu’s administration has aimed to boost agricultural output to address food insecurity, exacerbated by inflation and insecurity. Farmers have returned to some areas due to improved security, and initiatives like the Dry Season Farming program, launched in late 2023, have sought to increase production. However, food inflation remains high—around 40% as reported in posts on X in 2024—suggesting that supply hasn’t yet met demand effectively. The removal of fuel subsidies has also driven up transportation and production costs, offsetting some gains. Progress exists, but it’s partial and uneven.

2. Ending Poverty
Poverty alleviation hinges on job creation and social interventions. Programs like conditional cash transfers and the promised student loans (yet to fully roll out) aim to support vulnerable populations. However, inflation (around 35% in 2024 per X posts) and a stagnant minimum wage—still at ₦30,000 despite promises of an increase—have deepened economic hardship for many. Subsidy removal savings, estimated at $10 billion, have not visibly translated into widespread poverty relief, with critics on X noting funds appear "stuck" in bureaucracy. Little tangible progress is evident here.

3. Economic Growth and Job Creation
Tinubu targeted 6% GDP growth and 👉50 million jobs👈 . GDP growth has hovered around 3% (per X posts in 2025), far below the goal, though reforms like exchange rate unification and subsidy removal have stabilized reserves and improved trade balances. Local refining capacity has increased with the Dangote Refinery and NNPCL efforts, reducing import reliance. Job creation data is less clear—some infrastructure projects and security operations have generated employment, but unemployment remains high at 5% (X posts), with youth unemployment likely worse. Progress is slow and below targets.

4. Access to Capital
Efforts to enhance access to capital, particularly consumer credit, have seen limited rollout. The student loan scheme, a flagship promise, has faced delays, with no significant disbursements reported by early 2025. Small and medium enterprises (SMEs) still struggle with high interest rates and limited credit access, despite rhetoric about stimulating entrepreneurship. The naira’s devaluation (over 70% since 2023) has attracted some foreign investment, but domestic capital access remains constrained. Minimal progress so far.

5. Improving Security
Security has seen notable strides. The administration claims over 8,000 criminals neutralized and 10,000 people rescued, enabling farming resumption in parts of the North. Banditry and insurgency persist, however, with ongoing violence reported in 2025 (X posts and Amnesty critiques from 2023). Military operations have intensified, but a comprehensive resolution remains elusive. Progress is significant but incomplete.

6. Improving the Playing Field for Businesses
Exchange rate unification and subsidy removal aim to level the economic playing field by reducing distortions. Non-oil exports grew 6.3% in 2024 (NBS via X), though oil still dominates at 90% of earnings, indicating slow diversification. Infrastructure development, like railway projects with Chinese support, has progressed, but manufacturers report challenges with power and costs. The agenda’s promise of a fairer business environment is advancing, but structural issues persist.

7. Rule of Law
Tinubu’s commitment to the rule of law has been questioned. Appointments like a minister without an NYSC certificate (noted on X in 2023) and perceived judicial interference have drawn criticism. No major judicial reforms or high-profile accountability measures have been highlighted. Progress here appears stagnant or undermined by political actions.

8. Fighting Corruption
Anti-corruption efforts have ramped up via the EFCC, with increased public campaigns and some high-profile probes (e.g., subsidy-related cases). However, critics argue Tinubu’s own past and political alliances limit credibility—X users in 2023 called him "the face of corruption." No systemic overhaul or convictions of major political figures have been widely reported. Efforts are visible but lack transformative impact.

Overall Assessment
Tinubu’s administration has made strides in security, economic stabilization, and refining capacity, aligning with parts of the agenda. However, food security, poverty reduction, job creation, and capital access lag significantly, hampered by inflation, slow policy execution, and unfulfilled promises like student loans and wage increases. GDP growth and unemployment figures (from X posts) suggest the economy isn’t yet on the promised trajectory. Security gains are tempered by persistent violence, and anti-corruption and rule-of-law efforts lack depth. As of March 14, 2025, progress is mixed—some foundation laid, but significant results remain elusive, with many Nigerians still feeling the pinch of reforms without broad benefits. Data gaps and sentiment on X underscore a narrative of frustration alongside pockets of optimism.

cenaman:
Useless NNPCL.

NNPCL deliberately trying to frustrate Dangote refinery.

It’s the unseen hands of the IMF overlords at play here.

Curiously, it would also satisfy the interests of the owners of the Malta blending plant where petrol is imported from.

We’ll see if the government is really keen on standing by its own currency as the legal tender for crude oil deals on its own soil!