₦airaland Forum

seankafor:
Don jazet people

Amigoss:
Dollars is now selling for $1000,so before agbadorians come for average Nigerian traders and call them greedy, Multinationals like dangote,multichoice,MTN,Nigeria breweries Embassies who all jacked up their prices should all be forced and bullied to revert back👍

Incognito9:
🤷

Ibime:
Naira should calm down small, some of us have transfer to make

OasisX:


......make I pin una favourite plug for FX info here as usual. LOL!

larride:
Aboki are selling way lesser than this.

Ibime:
Naira should calm down small, some of us have transfer to make

Ibime:
Naira should calm down small, some of us have transfer to make

Ibime:
Naira should calm down small, some of us have transfer to make

BlueRayDick:
March is ending in 4 days time , yet refined petroleum products from Dangote & NNPC's refineries have not hit the market.

Can these people just tell us what exactly is going on gangan?

aieromon:
Update
https://guardian.ng/news/nigeria/dangote-to-begin-diesel-sale-as-nnpc-resumes-direct-supply-to-marketers/

Ibime:
Roberto Duran in broken English to Sugar Ray Leonard s wife at their pre-fight press conference

Your husband, maricon, no good. After I kill him,I fück you.

This was probably because he took over from another APC government. He is very, very reluctant to blame the previous regime. That is why he kept saying I inherited liabilities and assets. From my own point of view, I will say that he inherited mainly liabilities. If you look at the last budget of former President Muhammadu Buhari, about 97 percent was supposed to be used for debt servicing. The budget was predicated on N14 trillion in borrowing, while capital expenditure was just about N1 trillion. So, imagine if you had already committed 97 percent of your revenue to debt servicing alone. Out of the N23 trillion budget, what do you have left?

Ibime:
Naira should calm down small, some of us have transfer to make

BlueRayDick:
https://www.nairaland.com/8043427/president-tinubu-did-not-foresee

While we were criticizing Buhari's borrowings, Femi Adesina & APC apologists were busy calling everybody wailers. They praised Buhari to high heavens. Femi Adesina will be busy replying Punch Newspapers editorials up and down telling us how borrowing is a finance tool & that the borrowings are justified. Smh

Now Tinubu's spokesperson in the same APC is telling us Tinubu inherited a broke and indebted country.

It is well o

monerozi5590:
If you have a deficit. Like budget deficit you will borrow na. The borrowing no be today e start. Na since from the military era sef.

Jonathan borrowed, Buhari borrowed and the same Tinubu is still borrowing up till now.

Well, I think these have been explained. I just stated that under President Buhari, Nigeria was spending 97 percent of its budget to service debts. It simply means we were broke. There was no money. The same government borrowed over N22 trillion through what they called “Ways and Means’ ‘, which means that there were lots of problems.

BlueRayDick:
U obviously didn't read the part where he said 97% of the budget is already being used for debt servicing.

Is that what happened under Jonathan?

Tinubu's spokesperson is practically saying Buhari was foolish to have borrowed the whole country away while there are so many leakages in the system, u are saying Jonathan borrowed, Buhari borrowed and Tinubu will borrow. smh

monerozi5590:
97 percent of our revenue or budgeted revenue the person mean to say.

All those debt na accumulation of previous debt join and like you know the budget size keeps increasing.

They will certainly be deficit because some of those debt most have matured and the government need to pay through revenue generated.

TemporaryHansel:
Business people don Dey talk their side of the story…..

BlueRayDick:
Oga, Buhari borrowed Nigeria back to stone age in the words of Sowore. Of all the presidents that ruled since 1999 Buhari borrowed the most and left the country worse than he met it.

Funny thing is Tinubu in the 2024 budget has reduced Nigeria's reliance on borrowings by 3.8% another subtle way of telling anybody that cares to listen that Buhari was just recklessly borrowing future generations away

monerozi5590:
Buhari subsidised PMS and forex. Make things no too cost for common man.

Tinubu removed subsidy on PMS and forex (not totally though) hence the 3.8 reduction you talked about.

Edun explained that the budget deficit is lower at 3.8 percent of GDP, reducing the reliance on borrowing, with improvements in revenue generation using technology and digitalisation to also boost funding.

He said, “But overall, the change in this budget is that it is focused on growing the economy. The capital expenditure is larger than the recurrent expenditure; over N10 trillion is going to be the capital expenditure, while recurrent is just about N8.8 trillion.

TrebleChamp:
Should we still buy the dip?

BlueRayDick:
Lolz.

Hope you've seen how much Tinubu's government is paying on subsidising PMS currently?

By the way, the reason u gave behind the 3.8% reduction is incorrect.