Confused upside down government. A government that does not give a hoot to the sufferings of its masses. Smh. Is that one govt?

pocom16:


Lol..what do you want to tackle..

You tackle dubious FX dealings by closing the gap between official and black market rate... anything else is a mirage..

The same thing goes to subsidy..

What bulaba should have done is maintain the subsidy on FX but remove the one on fuel..
That way the money they save can be investigated into something else like maybe refinery or increase oil production

No progress can be made without holding those responsible for the rot to account.

They would just find another way to frustrate the system.

Until people are held to account, no progress can be made and any action to tackle the problem using a cowardly approach will only increase the burden on the masses.

As for the specific issue of subsidy on PMS, the underlying problem of what makes it unsustainable should first be sorted out.

christistruth01:
Fake News

IMF has no business with FG Economic Policy

Is like You watched channel television yesternight where Falana was saying it Abi?

immortalcrown:
Unstable people.

"Tinubu will handle the economy, Shettima will handle security." Oya nah🤷

Owner bad Belle nor make good thing's come

ivandragon:


No progress can be made without holding those responsible for the rot to account.

They would just find another way to frustrate the system.

Until people are held to account, no progress can be made and any action to tackle the problem using a cowardly approach will only increase the burden on the masses.

As for the specific issue of subsidy on PMS, the underlying problem of what makes it unsustainable should first be sorted out.

It is unsustainable because its cost keeps increasing

I gota purchase a bicycle, just in case. And let's all get ready to forcefully reduce the cost of governance. These thieves are busy making our lives a living hell

How much does a Senator earn again? How much does a Senator who barely has waec result earn when a doctor or professor who actually contributes to the nation lavishes in poverty.

We’re wasting time if we don’t face these things.

We put greedy fools in charge but lament that they’re doing foolish things. All of them

pocom16:


It is unsustainable because its cost keeps increasing

Is the increase magical? What is the cause of the increase?

If the root problems are not addressed, every other effort to address the issue will be cosmetic and futile.

A president that said the economic saboteurs told him to collect his share of the subsidy jamboree, what does that tell you?

https://www.vanguardngr.com/2023/06/i-could-have-asked-for-my-share-of-fuel-subsidy-but-god-forbid-tinubu/

https://www.google.com/url?q=https://dailytrust.com/tinubu-i-could-have-benefited-from-multiple-exchange-rate-fuel-subsidy/&sa=U&ved=2ahUKEwjL1MzZvauEAxW_9QIHHbL0BpwQFnoECAEQAg&usg=AOvVaw3lm2TUUjr7hLW7q3qI0gID

mrvitalis:
The issue with IMF and WORLD BANK is they assume African leaders are smart

You are telling them to remove subsidies they would remove subsidies and use the money saved to build bridges , roads, airports and unneeded feel good projects

This is is how obi said float the naira and they floated an unstable currency, without defined market forces and turned around to say this is what obi said

Talk to them like u are talking to kids

1) remove subsidies

2) use the money to invest in your people by provided cheap credit for banks to give to people in identified area of comparative advantage

3) comparative advantage is things you can produce cheaper n more efficient than majority of the world

4) they them infrastructure to be invested in now are key fundamental n needed infrastructure not wanted ones

I will be happy to know that one thing Nigeria has comparative advantage at.

NinjaMetahuman:
yes

If it's not in the budget, it's a crime.

Because you are not interested in reading about it doesn't mean it doesn't exist.

even if it is a crime which has the guts to say so? In Nigeria democracy, the president is the alpha and Omega.

sonnie10:


I will be happy to know that one thing Nigeria has comparative advantage at.

1) training medical professionals
2) ethanol ( Cassava value chain)
3) leather works
4) with the right policy we can kill the cotton farming industry, fabric industry this would open up the garment industry
5) chocolate
6) ICT professionals
7) cashew nuts
orange juice
9) poultry

mrvitalis:

1) training medical professionals
2) ethanol ( Cassava value chain)
3) leather works
4) with the right policy we can kill the cotton farming industry, fabric industry this would open up the garment industry
5) chocolate
6) ICT professionals
7) cashew nuts
orange juice
9) poultry

I laugh in Spanish I am just going to respond by citing the countries that have comparative advantage on all of these you have listed.


1) Indians and Philippines
2) Brazil and China
3) Peru, Argentina an Chile
4) Myanmar
5) Ivory coast and Ghana
6) Indiana
7)
Florida / California USA
9) Holland

My point is, lets concentrate on satisfying local demand first because international market is a different ball game. We can hardly measure up

sonnie10:

I laugh in Spanish I am just going to respond by citing the countries that have comparative advantage on all of these you have listed.


1) Indians and Philippines
2) Brazil and China
3) Peru, Argentina an Chile
4) Myanmar
5) Ivory coast and Ghana
6) Indiana
7)
Florida / California USA
9) Holland

My point is, lets concentrate on satisfying local demand first because international market is a different ball game. We can hardly measure up

Why didn't you concrete on planting your own food, sewing your own cloths, doing your own things before you specialized in the skill you use to eat now

Two countries can have comparative advantage in the same field

Have 10% of each of those industry is enough to grow our economy to over a trillion dollars economy

mrvitalis:


Why didn't you concrete on planting your own food, sewing your own cloths, doing your own things before you specialized in the skill you use to eat now

Two countries can have comparative advantage in the same field

Have 10% of each of those industry is enough to grow our economy to over a trillion dollars economy

Unfortunately, non of those items you listed are sort after from Nigeria. In fact, Nigeria does not even have the potential to complete in any of those.
Take for instance poultry, how much is a kilo of local poultry meat ? Compare that with what they sell at nearby Cotonou and you have you answer.
Here is the problem with Nigeria. Poor infrastructure that hinder productivity. Until we get the power sector right, competitiveness would only be just wishful thinking. You do not take knife to a gun battle. Not with 3000 MW of electricity for over 200m population.
Most countries that are at the top have cheap, clean nuclear energy for electricity. Without this automation for large scale production is difficult.
We have voted leader who over the years have pocketed IMF loans and revenue from crude oil which would have been used for infrastructural development.
The truth is, while we slept, other countries left us behind. It will take sincere effort and strong leadership to redirect the country.

sonnie10:

Unfortunately, non of those items you listed are sort after from Nigeria. In fact, Nigeria does not even have the potential to complete in any of those.
Take for instance poultry, how much is a kilo of local poultry meat ? Compare that with what they sell at nearby Cotonou and you have you answer.
Here is the problem with Nigeria. Poor infrastructure that hinder productivity. Until we get the power sector right, competitiveness would only be just wishful thinking. You do not take knife to a gun battle. Not with 3000 MW of electricity for over 200m population.
Most countries that are at the top have cheap, clean nuclear energy for electricity. Without this automation for large scale production is difficult.
We have voted leader who over the years have pocketed IMF loans and revenue from crude oil which would have been used for infrastructural development.
The truth is, while we slept, other countries left us behind. It will take sincere effort and strong leadership to redirect the country.

A killo of chicken is less than $2 whole sale price

This can be reduce if we allow free import or maize and soy

sonnie10:

Unfortunately, non of those items you listed are sort after from Nigeria. In fact, Nigeria does not even have the potential to complete in any of those.
Take for instance poultry, how much is a kilo of local poultry meat ? Compare that with what they sell at nearby Cotonou and you have you answer.
Here is the problem with Nigeria. Poor infrastructure that hinder productivity. Until we get the power sector right, competitiveness would only be just wishful thinking. You do not take knife to a gun battle. Not with 3000 MW of electricity for over 200m population.
Most countries that are at the top have cheap, clean nuclear energy for electricity. Without this automation for large scale production is difficult.
We have voted leader who over the years have pocketed IMF loans and revenue from crude oil which would have been used for infrastructural development.
The truth is, while we slept, other countries left us behind. It will take sincere effort and strong leadership to redirect the country.

No country has cheap electricity that has a population above 50 million

Electricity is never cheap... And you don't need nation grid electricity to industrialise

IMF TOLD GOVT TOREMOVE SUBSIDY AND SUFFER THE MASSES,WHILE LAST GOVT BORROWED IMF LOANS THEY COULD NOT GET BUHA TIO ACCOUNT FOR.
Imf and buhagovt are Nigeria problems and not PTinubu.

mrvitalis:

No country has cheap electricity that has a population above 50 million

Electricity is never cheap... And you don't need nation grid electricity to industrialise

Cheap is relative.
Take for example in the US where things could be considered expensive, an average single family household does not spend more than $300 a month for 24 hours electricity. If they make just $6000 a month, that represents about 5 % of the monthly income.
Now take Nigeria. If an average single family house with income of #500k a month ( generous figure) pay monthly bill of #50k on electricity, that would be 10% of that income.
So which is cheaper?

sonnie10:

Cheap is relative.
Take for example in the US where things could be considered expensive, an average single family household does not spend more than $300 a month for 24 hours electricity. If they make just $6000 a month, that represents about 5 % of the monthly income.
Now take Nigeria. If an average single family house with income of #500k a month ( generous figure) pay monthly bill of #50k on electricity, that would be 10% of that income.
So which is cheaper?

Cars cost the same in the USA and Nigeria, phone same thing, cloths same thing

Same with electricity it would cost the same if u want it in Nigeria or USA

Nigerians are not rich enough to pay for 24 hours electricity and those who are rich enough already have it

NinjaMetahuman:
it's not about believing Nigerian government.

It's about using common sense. If government is going to spend billions on subsidy, there has to be some sort of provision for it in the budget.

Spending billions on subsidy isn't exactly something you can hide.

This present govt us hiding it because the president said subsidy is gone when he first started his govt.. So it will be an insult if he now says subsidy is back again. That is why they are paying through the back door. Hope you know petrol price increases as dollar rises... So how come dollar is 1500 and u dey sell petrol 620 plus? This is common sense na... I dey tell u again, bliv nigerian govt at ur own risk.

Remember when Awolowo lamented about the IMF and WorldBank policies that crippled the Nairas in the 60's and encouraging military coups across Africa. Wonder how they came back a decade Later to apologize that the policies didn't work as planned... then they created SAP which was also a sham, where we used saw dust to cook.
This is the same step Tinubu is taking again, it will surely end in tears as we're seeing already.