₦airaland Forum

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

Type this long nonsense just to exhibit your ignorance?

Flets:
The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

1.Can you provide a source of the above 10million liters per day.? (For comparison, Ghana consumes 6.2million liters of fuel per day, and there are 25 million Ghanaians).

2.Haven't we been gradually removing subsidy? We have, which is why fuel does not cost N65 anymore, or even 15 kobo.

3.Yeah, I know, Nigeria has inflated fuel consumption numbers, but I think the current estimate of 60 million, makes a lot of sense.

4.You can never stop smuggling once you subsidise fuel. And Nigeria is not the only country. This causes much of the inflation, and as NNPC chair once said, a tanker taken across the border earns N30m in one trip.

Libya sells fuel below N50 a liter, and has a problem. They have even resorted to using airstrikes on smugglers. As recently as last month.

Venezuela too, for years

Iran too subsidises fuel and has a smuggling problem as well.

This kind news gives investors green light.

God bless Nigeria

kokorokoman:
simple econimics that past govts since 1999 has not been able to pull of.

Past governments could not do it because they knew the implications to the masses.
BAT and you guys don't know the implication for now. just the announcement.
Everything PBAT did so far is like burning down the whole house to kill a rodent

No planning before acting. We are all waiting to see what follows.

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

It's the people that liked and shared what you wrote here that I feel the most pity for.

You say Tinubu should not have floated the dollar without infusing the market with dollars. If you infuse the market with usd at 435 its going to end up in the black market at 750. Simple. There are only two ways to correct the value of the naira vi's a vis the dollar. The first is to produce and export more so that reserves can be built up for the demand side. That's not going to happen overnight. The second way is to fuse the rates and encourage free inflow of usd - after an initial spike usd inflows will begin because people know that when they want to repatriate invested funds it won't be at a different or lower rate.

You said Tinubu stopped subsidy. Wrong again. There is no money budgeted for subsidy. NASS has just been promulgated so who will pass a budget for subsidy? In fact Nigeria has been borrowing trillions from NNPC to fund subsidy. NNPC is now a private company and says it is has no money. Can you not see that the end of subsidy is opening up innovation in other forms of energy e.g CNG?

Student loans is a plot to what? How does giving people loans to study amount to stopping funding to tertiary institutions? Student loans are not new to Nigeria. We've had them since independence. The only reason they were stopped was because of the high rate of default. Those gaps can now be closed due to bvn.

I suggest you apply for the student loan when it comes up and go back to school. You need it.

Subsidy removal and floating of the Naira, though laudable policies, their application however in the present Nigerian situation are a recipe for disaster. They are akin to removing the column pillars holding up a structure without introducing an external support base. The compressive weight of the structure would sooner or later crumble under intense stress.


One would understand the haste by Tinubus Administration to correct the anomalies that agreeably have left the nation's economy thethering on the brinks.

But nonetheless, one would still have expected that a cautious approach be adopted in dismantling these fulcrums on which the ecoonmm also stands due to the crumbling effect they could have on the country.

Take the floating of the naira for instance, the fundamentals show that demand for foreign exchange are still very high. A lot of airlines have their funds trapped in Nigeria which accounts for nearly 50 percent of trapped funds of airlines worldwide. Nigeria's economy is also heavily reliant on imports which is also done majorly in foreign currency. Add to these the pressures of tuition fees, medical bills, travels, debt servicing, petrol imports and you are looking at a senario not far from what happened in Zimbabwe and Venezuela.

What Tinubu and his hailers are failing to under stand is that economic reforms of these magnitude are not done overnight without proper thought process and groundwork to counteract their effects.

One would have expected to see refineries producing petrol for local markets and for exports to increase the country's forex earning capacity before floating the naira. Even the administration of former President Buhari tried this experiment and was forced to quickly reversed itself when the Niara suddenly jumped from about 300 to 650 to a dollar.

Nigeria is at a tipping point with these poorly timed policies and only a miracle would save the economy from implosion.

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

Nigeria is not a country where you fight corruption and win.
What the president is doing is preventing corruption.

Have you ever bought dollar anywhere at the CBN price before?
But big, powerful and connected corrupt business man are those getting it while they sell whatever they buy/produce with it to Nigeria at the open market price

AntiChristian:
Dr. Olisa Agbakoba posted on his twitter account on Tuesday 14 June 2023:



https://twitter.com/oagbakoba/status/1668969517148512260

Fake!!!

CondenseMilk:
what's this man saying sef?

You removed subsidy and still importing fuel !

build refineries simple!

Bros which village are you from?
There is a dangote refinery already

It's no more business as usual, I use to tell people that Asiwaju is not contesting because of Nigeria wealth, he's wealthy already.


God bless Nigeria.

emmykk:
Bros which village are you from?
There is a dangote refinery already

Hate has blocked their reasoning, they are senseless.

CondenseMilk:
what's this man saying sef?

You removed subsidy and still importing fuel !

build refineries simple!

I just dey enjoy your unhappiness

tooth4tooth:
Wonder shall never end . Even Olisa Agbakoba has seen the light.

Stop carrying in as if it's only Tinubu that can do what he's doing.

See, all this is the initial Bobo he's selling Nigerians.

The real "Tinubu Rule" will start soon.

Floating Naira when your importing essential commodity like petrol in $ . The value will keep falling per round of importation.

86trssddv:
;

Cheap fraud. sir

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

very good view for debate.

RHMSTECH:
It’s a good policy to float the NAIRA but there’ll still be black market simply because it’s a problem of liquidity, the supply is low and access by ordinary Nigerians is limited. If dollar is readily available and there’s transparency in the market, this policy might work. Get Dangote refinery working asap , that’s the single most important project we need right now.

\


Black market will always be there but the margin wont be wide again

CondenseMilk:
what's this man saying sef?

You removed subsidy and still importing fuel !

build refineries simple!

Shey Mk dem give you d contract so that you will build the refinery in 1 month

Sablexxxtoons:
Great .. that guy ranting above so you know more than Mr Agbakoba?

this is good for capitalists and investors. But the poor man will suffer unless govt intervenes.

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

hmmmm. Another angle tbh. Won't they end up stealing the said saved subsidy money?

Tinubu is satisfying us in our own way. I hope thes plans are adequate.

BreconHills:
It's the people that liked and shared what you wrote here that I feel the most pity for.

You say Tinubu should not have floated the dollar without infusing the market with dollars. If you infuse the market with usd at 435 its going to end up in the black market at 750. Simple. There are only two ways to correct the value of the naira vi's a vis the dollar. The first is to produce and export more so that reserves can be built up for the demand side. That's not going to happen overnight. The second way is to fuse the rates and encourage free inflow of usd - after an initial spike usd inflows will begin because people know that when they want to repatriate invested funds it won't be at a different or lower rate.

You said Tinubu stopped subsidy. Wrong again. There is no money budgeted for subsidy. NASS has just been promulgated so who will pass a budget for subsidy? In fact Nigeria has been borrowing trillions from NNPC to fund subsidy. NNPC is now a private company and says it is has no money. Can you not see that the end of subsidy is opening up innovation in other forms of energy e.g CNG?

Student loans is a plot to what? How does giving people loans to study amount to stopping funding to tertiary institutions? Student loans are not new to Nigeria. We've had them since independence. The only reason they were stopped was because of the high rate of default. Those gaps can now be closed due to bvn.

I suggest you apply for the student loan when it comes up and go back to school. You need it.

Ha! Didn't see it that way.

Exactly...other previous itierations did not have BVN, and digital reporting of credit previously.

Also good point on CNG...though it is going to take a long time before it reaches the common man.

Emeskhalifa:
And the past presidents didn't do it?

Abeg make we rest. He is president, we should all support him and hope he does what benefit the masses.

The so called Messiah we are hoping on, won't go in there and do magic. If it were that easy, they say charity begins at home, how is his home state, the same one he governed? We should take a break from all these unnecessary hate and wishing the country fails so we could blame the president.

The past past presidents didn't do it because they understood the risks involved and didn't want any of it. The Nigerian economy is very unpredictable because of sabotage by citizens. We have massive oil theft going on, the petrol subsidy was alleged to be misused by those that were never apprehended and prosecuted. If the Naira is allowed to float freely there is a possibility that powerful Nigerians could find a way to manipulate the market and cause the Naira to free fall.

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

This is so touching

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

People will regret this policy after 2 weeks.floating the naira where there is scarcity of dollars will swing to the negative. Naira will hit 1000 soonest

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

If you want things to be done the Old ways, then why are you expecting a change or progress in the country?

It is the corruption going on in cbn that is causing fx problem, buhari is daft he saw all this thing but keep mute because na all him tribesmen occupied bureau d change,the new cbn govnor should stop giving aboki forex,they should allow banks to sale at cbn rate,this will tell on the market,price of things will come down if there is market taxforce

I hope custom would make imports extremely hard and their trillions revenues would come from export.

RawSex:
With the way things are going, I'm Afraid nigerians may beg Tinubu for a third term

The real change is here!

JAGABAN!!!

You were in Ikoyi trying to catch flight to US, a someone(APC) kidnapped u and took u to shaki under all kinds of torture. Now after 8 yrs, one of the kidnappers is now trying to return you to Ibadan through hell and your are saying this is the best progress you have made in life. Let me ask you, do you realise where you fell from? Do you know you could have been in US if you were not taken back? Do you know how much you would have achieved in Ikoyi if you were not captured away? Tinubu initiated Buhari-APC is the worst thing that has ever happened to Nigeria and her people!

KingOfIsoko1:
Nothing to applaud here,

It’s simple economics

Simple economics wey nobody fit do since 1999

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

how many masses has access to government rate dollars in the bank?.
What this simply means is that no need to fill any form anything.. Same price you buy dollars from aboki is same you will buy from the bank.. Cash and carry.. No more Government rate but market rate, simply as ABC.. Some people with connections are the one benefitting from the CBN govt rates and selling it in the black markets. Lets have a level playing field and the true business men do real business.. Things will be much more stable, next round for the government to go is to improve our production level... Involve a large number of working men in public construction.. Not Chinese.. Not necessarily giving out contracts.. There are alot of government agencies that can handle this and get people working. That will boost the economy.

Flets:
All tinubu has done is to set up Nigerian masses for absolute and perpetual suffering.

Why the urge to quickly float the naira without plans? Do we have sufficient USD to flood the market and meet the FX demands in the near term? If people cannot walk into the bank and buy USD without filling forms A, M etc.... its only little time before USD exchanges for 1000 naira

On fuel subsidy, Why should the masses bear the responsibility of the inefficiency of the FG?,

why can’t the FG protect the boarders to ensure subsidized PMS does not get to neighboring countries?

Why has the FG not prosecuted and jailed anyone involved in the subsidy fraud to stop others from doing so?,

The claim that subsisdy is a burden is fallacy cos the subsidizing the actual consumption of less than 10million liters per day is not a burden compared to the FG’s current fraudulent claim of 66million liters per day. Why not a gradual removal of the subsidy?

Where is the savings from Diesel and kerosene subsidy and what has it been used for?

The student loan bill is a plot by the Tinubu led FG t to stop funding tertiary education in Nigeria leading to the end all education subsidy. Who do you think are the final beneficiaries of these moves, same criminals who will end up looting the funds meant to fund the tertiary education.

What exactly is the role of the Nigerian FG if they relinquish every responsibility to the masses? What sacrifice has the political class made in all these mess? Have their allowances being reduced? Any efforts at stopping the lootings?

All Tinubu has done is to transfer responsibilities to the already suffering Nigerian Masses to ensure there is enough for him and his goons that supported him into office

do you know the owners of Dangote refinery?Just research about the owners then you will have answers to your questions. Next is to increase VAT.