OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Share yours

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Share yours

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Share yours

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share yours

Pearlokeys:


May I ask what the price of fuel will be if your preferred candidate was President?

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share yours

Creamcrest:
Shut up

He might end up been the best president Nigeria ever had,yorubas are better administrators than northerners.

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.


Exactly, na them go suffer am pass

Share yours

Pointbreak456:

So yaradua is from the south abi ??

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share yours

malware:


Your earlier prediction for Obi presidency failed, so this one too shall fail.

Pointbreak456:

Na who suffer pass dey complain idiot

4Play:


Many people who are celebrating today also celebrated when Buhari won in 2015, claiming that life will improve significantly for Nigerians. Political fortunes/outcomes are contingent on the populace, but economic principles/logic don't care about your tribe/religion.

If your government isn't good enough, Nigeria will continue being the world's poverty capital irrespective of the population's wishful thinking.

Creamcrest:
Shut up

He might end up been the best president Nigeria ever had,yorubas are better administrators than northerners.

OdogwuMoney6:


100-120 per litre

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share yours

malware:


We are optimistic about Nigeria getting better, you have been pessimitic on the other hand since time immemorial, so we can't help you.

MuchAdo:


Od*! God forbid!!

Flight tickets have already started crashing!!!

4Play:


My pessimism about Nigeria has been justified by reality.

Blind optimism won't rescue Nigerians from the deprivation and insecurity 63 years of bad leadership has achieved. It won't put food on people's tables, clean pipe-borne water in people's homes, or give Nigerians access to good quality healthcare.

It's people like you with your wishful thinking who need help. Like a mad man, you think doing the same thing all the time will lead to a different result.

malware:


Did your candidate provide all these amenities you mentioned when he ruled for 8 years in Anambra?

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share your

4Play:


No, but I have never expressed optimism that Obi, who was a PDP politician until they refused to give him a ticket, would make much of a positive difference in Nigeria. If he had won, my reaction would be same as it was on this forum when GEJ was elected in 2011 to the cries of "fresh air" and Buhari a.k.a "Mr Integrity" in 2015: you are bound to be disappointed.

I am sure Lagos state government (who we are told is richer than almost all other states combined) did not, and still do not, provide basic amenities to most residents when Tinubu's tenure as governor ended in 2007.

So what is all the optimism based on? How is Tinubu's government going to be different from the incompetent and corrupt leadership we experienced in the last 63 years?

OdogwuMoney6:
Mine

dollar = N1,500
Fuel = N700 per litre
Bag of rice = N70k-N80k
Cement = N10,000
Local flight = N180k-200k
Price of bread = 1500-2000

Come back and quote me after four years if he eventually is sworn in.

Share yours

4Play:


No, but I have never expressed optimism that Obi, who was a PDP politician until they refused to give him a ticket, would make much of a positive difference in Nigeria. If he had won, my reaction would be same as it was on this forum when GEJ was elected in 2011 to the cries of "fresh air" and Buhari a.k.a "Mr Integrity" in 2015: you are bound to be disappointed.

I am sure Lagos state government (who we are told is richer than almost all other states combined) did not, and still do not, provide basic amenities to most residents when Tinubu's tenure as governor ended in 2007.

So what is all the optimism based on? How is Tinubu's government going to be different from the incompetent and corrupt leadership we experienced in the last 63 years?

grandstar:


If Tinubu's government can achieve an average growth rate of about 8% annually over the next 8 years, increase tax revenue to about 11% of the economy from the paltry 6% today and increase non-oil exports to 50% of total exports, it could be regarded as a good performance.

The country's overdependence on oil revenue for at least 75% of its exports and 75% of budget revenue are perhaps the biggest problems the economy faces.

Just making both the petrol price and Naira exchange flexible again would bring about some much fiscal sanity. A market reflective exchange rate would boost growth to ateast 6%.

It would be fantastic if Nigeria followed the path of Centeal European economies by slashing both corporate and personally income taxes to very business friendly rate. A corporate tax rate of 15% should do, even when the 2% education tax is included.

Your thoughts please.

4Play:


I wish it were true but I don't believe that 8% growth per year growth for the next 8 years is achievable.

In Nigeria, periods of strong growth often coincided with periods of big increases in global commodity (mainly oil) prices - the 1970s with the Arab oil embargo, the 2000s with China's entry into the WTO and oil prices going from a low $9 p/b in 1999 to circa $100 by 2011/12, and the 1960s post-independence boom with the discovery of oil deposits. It highlights that much of Nigeria's growth thus far is simply riding the tail winds of commodity rallies.

I think the last 8 years has seen Nigeria dig a big hole for itself which is severely underestimated. Presently, tax revenues barely covers debt expense so the first task will need to be ensuring fiscal stability. I don't believe you are going to see a big uplift in taxes. People extrapolating from the Lagos experience in the immediate period from 1999 are being naive. Nigeria as a whole saw a big increase in tax revenues and GDP from 1999 as the economy's size went from $50bn to a peak of circa $570bn in 2013/14 and the country's economic capital benefited immensely from that. There is no reason to assume this, or anything remotely close, will repeat itself.

You are right that deregulation of petrol and exchange rates will reduce the fiscal burden and the latter should boost non-oil exports (all things being equal). The reality also is that in the short run, it will cause a lot of adjustment pain by fueling even higher inflation which the CBN will need to counter by hiking up interest rates. So this monetary offset, if combined with more fiscal prudence (lower government spending and higher tax intake), will counter the growth boosting effects from deregulation. I can't see where you get your 8% growth from.

My proposal will be to do the exchange rate deregulation first. Negotiate a huge IMF loan/debt rescheduling agreement with creditors to boost forex inflow, investor confidence and fiscal sustainability. We can phase out petrol subsidy by year 2 or 3.

We then need to run a big privatisation effort with the ports, NNPC etc (the IMF will insist on this anyway). Again, this can boost forex inflow and investor confidence.

The total net effects of the above won't boost growth immediately but it will begin to unravel some of the policy errors we have been making over the years.

PS: One thing that scares me about Tinubu is that his one big idea for the economy is that we should print more money so we can spend more. That is utterly insane and there is not much else I can add on that.