Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,166,679 members, 7,865,734 topics. Date: Thursday, 20 June 2024 at 02:36 AM |
Nairaland Forum / Nairaland / General / Politics / IMF to FG: Scale Up Cash Transfers To Poor Nigerians (11092 Views)
FG To Restart Direct Cash Transfers To 12 Million Nigerians / FG Begins Cash Transfers To Vulnerable Households In Kogi, Sokoto / COVID-19: 11 Million Poor Nigerians To Get Palliatives — FG (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
IMF to FG: Scale Up Cash Transfers To Poor Nigerians by ganisucks(f): 7:27pm On May 09 |
The International Monetary Fund (IMF) has called on the Nigerian government to scale up its cash transfers to help poor Nigerians manage the current cost of living crisis. cost of living crisis https://nairametrics.com/2024/05/09/imf-to-fg-scale-up-cash-transfers-to-poor-nigerians/ 5 Likes
|
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by ganisucks(f): 7:28pm On May 09 |
Kikiki... 😆😅🤣😂 29 Likes 1 Share
|
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by Didijiji: 7:30pm On May 09 |
IMF are bitter Obi According to the brain drained supporters of the worst government in Nigeria’s history 56 Likes 6 Shares |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by helinues: 7:45pm On May 09 |
Why is your own headline different from the link you posted? |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nedu666: 7:57pm On May 09 |
Imf don run tinubu Street Imf: Bat remove fuel subsidy and float naira Bat: l have done that Imf: Good. But ya people are suffering Bat: ah, are you not the one that advised me to remove fuel subsidy Imf: so if I say put hand in fire, you will put hand in fire Bat: ah, egbami, my people come and see this imf people 92 Likes 8 Shares |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by waice6571: 7:58pm On May 09 |
Ajala ta'na?....... Eyin na ko'hun..... Who is the master architect and the foundation of Nigeria's economic problems ? 10 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by Racoon(m): 7:58pm On May 09 |
After their neck constricting policies helped the disastrous government to impoverish Nigerians some more. Meanwhile the government zombies still think otherwise. 39 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by SmartPolician: 7:59pm On May 09 |
IMF, I think it's time to let you know that you cannot give what you don't have. Tinubu has nothing to offer this country 43 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by CodeTemplar: 8:03pm On May 09 |
It read: “Expenditure reprioritization is needed to create space for social protection and other priority spending. The authorities have recently approved an enhanced social transfer mechanism developed with World Bank support, and some initial payments have been made.Summarising the bold, they are saying, look, restructure and de-incentivise corruption while putting the money to effective use that will truly serve nigerians, then attempt removing subsidies. Cc: nairalanda1 and grandstar. 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by Paraman: 8:04pm On May 09 |
I agree he needs to do more |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by CodeTemplar: 8:05pm On May 09 |
SmartPolician:what I have been hammering home since before election and swearing in. Someone who allows agberos run riot freely as long they can serve him doesnt know a thing about growing an economy. 17 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:06pm On May 09 |
CodeTemplar: Why not fight corruption, remove subsides and industrialize? Keeping subsides, means more debt, which means more burden for the poor. Remove subsides, and there is a chance of investment and jobs , which benefit...the poor. 26 Likes 1 Share |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by CodeTemplar: 8:11pm On May 09 |
Racoon:my posts on need to adjust and fight the underlying corruption ravaging our subsidies can be complied into a book. You won't see nairalanda1 and grandstar. It is when the thread dies you will see them brainwashing few gullible and "swayable" folks around. 6 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by CodeTemplar: 8:12pm On May 09 |
nairalanda1:a country using N90b to go and stone devil is not a broke country. You can't know our balance sheet more than a first class accountant surrounded by builders of Lagos. 15 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by opeyemi2012(m): 8:13pm On May 09 |
IMF with their "double mouth". Carrot and stick approach. Give people cash and collect it back through ridiculous taxes. Meanwhile, the Federal Government has mandated POS operators to formalise their businesses by registering with the Corporate Affairs Commission (CAC) before July 7th. It will be considered a criminal offence to operate a POS without a formal registration with CAC after this date. We are offering a massive discount for POS operators cluster group of 40 persons and above. Individual business name registration is N18,000 but if you come as a cluster group of 40 persons and above, we will be offering a discount of N2000 per business registration. Having helped over 6000 people register their businesses, we have a proven track record of excellence. Please call or whatsapp the number on my signature. 2 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:14pm On May 09 |
CodeTemplar: Like I said...we can remove subsides, increase taxes, and also fight corruption and also deal with the security problems...and after a period of hardship, we would get there Continuing on the course that you want is why we have massive debts, lack of productivity, and suchlike. IMF is right to say what they want to say...but then there is Argentina which is now taking decisions they should have taken centuries ago. Best we pass the books, hold the oil....we can't feed ourselves with tomorrow;s food. 26 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by lexrichy(m): 8:15pm On May 09 |
Too much hunger, to even protest tire people. 3 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by BeeBeeOoh(m): 8:16pm On May 09 |
It's a lie. IMF is IPOB; Nigerians are not suffering 2 Likes 1 Share |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:18pm On May 09 |
CodeTemplar: We are a broke country. That is why we are spending 90 billion on such things...because that is what you and most nigerians want. Money shared 'equitably'...not money spent on innovation, industry and in essence making more and more money. We have been told what to do and it is outlined here
Thomas Friedman...Pass the books , hold the oil But we can't even afford subsides anymore anyway. That 90bn belongs for education, not travel. 26 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:21pm On May 09 |
Since CodeTemplar needs more stuff, and thinks I am running away, here are more of what I think we should do for Nigeria...and note that APC Is not doing it, it is doing what CodeTemplar wants...subsidies, and sharing money for the poor... He was implacable. “Oh yes it is and I will say it again, you are lazy. Poor and uneducated Africans are the most hardworking people on earth. I saw them in the Lusaka markets and on the street selling merchandise. I saw them in villages toiling away. I saw women on Kafue Road crushing stones for sell and I wept. I said to myself where are the Zambian intellectuals? Are the Zambian engineers so imperceptive they cannot invent a simple stone crusher, or a simple water filter to purify well water for those poor villagers? Are you telling me that after thirty-seven years of independence your university school of engineering has not produced a scientist or an engineer who can make simple small machines for mass use? What is the school there for?” SAUCE We can only get there with a working power and petroleum sector....in addition to fighting corruption...because subsides don't work. 3 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:25pm On May 09 |
CodeTemplar: Every year, the Nigerian government runs huge budget deficits that could have been avoided if money budgeted for oil subsidies was allocated to other critical projects. Subsidies should be used to spur investment in activities that raise the productive capacities of an economy (such as education, health, entrepreneurship, and infrastructure). They should be targeted at strategic sectors of the economy. They should not be used to finance non-durable consumption items like petrol. Oil subsidies are inequitable, as they transfer the national wealth to those who own several cars and add little or no value to the national economy. In lieu of subsidies, the government should invest massively in public transportation and boost the transport allowances of public-sector workers. Removing fuel subsidies would also be good for the environment and safety on Nigerian roads. When motorists pay the full economic price for petrol, they will drive less, emit less pollution and reduce the incidence of road accidents. There should be a clear communication to Nigerians that the removal of fuel subsidies favours the poor, and eliminates one of the several perks that the Nigerian elites undeservedly enjoy. SAUCE 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by MEEVEET: 8:28pm On May 09 |
nedu666: Did IMF tell him to budget 15 trillion for a road that's not needed but 75 billion for SMEs? 20 billion for students loan? Did imf tell him to rush an announce fuel subsidies? Did imf tell him to float without stabilizing the currency The only issue is IMF thinks African leaders like Ebola add smart enough to know basic things 6 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:32pm On May 09 |
MEEVEET: When debt was eating 90% of our revenue by 2022, something had to give. Keeping subsidy would have caused the debt resulting to eat 100% of our revenue. Maybe more. There is a reason why all 3 candidates said they would remove subsidy. There is also a reason why tinubu and buhari should have kept quiet in 2012, or supported the then government's effort to remove subsidy back then.(Opposition is not about knee jerk things). 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by MEEVEET: 8:36pm On May 09 |
nairalanda1:Debt is eating 90% of your revenue and the sensible thing you can think of is to borrow 7.5 trillion to build a road that can't generate anything revenue? Removing subsidy and floating the naira was never the issue the issue was how they were done You just want to convince yourself all the 3 candidates are same when it's obvious they are not 6 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 8:42pm On May 09 |
MEEVEET: That's a problem I have with Nigerian leaders. They are so obsessed with that 'ONE BIG PROJECT' things. The money would have been better spent on railways. Which can transport more than a coastal road (Read my comments, the coastal road is not my cup of tea. Especially since there is a high chance the project would be abandoned...). Removing subsidy and floating the naira was never the issue the issue was how they were done There never is a good time to remove subsidy and float naira...plus really the government had no choice (remember I said that tinubu and buhari should have supported subsidy removal in 2012). NIgerians will always complain when fuel prices go up. But in this case, thanks to Nigerians forcing GEJ to keep subsides in 2012, the hand of Karma forced tinubu to remove subsides (partially as it has turned out) in 2023. He had no choice. If he kept it...that loan he took for the road would be dwarfed by the loans he would take to fill the resulting deficit. As in a deficit as heavy as N20 trillion naira. (i did the math). You just want to convince yourself all the 3 candidates are same when it's obvious they are not Considering that they are the same, and that I especially don't want to vote for PDP or APC or even LP because Obi was in PDP....and considering that no candidate has the balls to do the needful to improve our economy (check out what MIllei is doing in Argentina...and it is because he has no choice...)..... But no, I must be a tinubu supporter because I DISAGREE WITH YOU. Yeah, Nairaland members think that way. 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by Kelklein(m): 9:03pm On May 09 |
At least Buhari was giving npower people money 30k almost throughout his tenure.. even though some of his social safety net programmes were cover for stealing public money But by the way, while IMF canvasses for the removal of what they called Implicit fuel subsidy, in their history of giving advice, I have never seen where they advised government officials to stop stealing public funds.. even when it was clear that the casj transfer they advocate is not getting to the target poor. Or they want to pretend that they don't know that a minster is this country was feeding school children in school while they were on lockdown in their parents' houses. 🤔🤔 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by bdon123(m): 9:05pm On May 09 |
Nope lets suffer together.as long as agbadoriansare suffering more it ok for me. |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by rinzaugustine: 9:06pm On May 09 |
Lol starving yellow teeth Agbado illiterate pigs will soon jump in here to blame Peter Obi |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by Christistruth00: 9:07pm On May 09 |
IMF is supposed to compensate Nigeria for their structural adjustment program that wiped out the Nigerian middle Class 2 Likes |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by nairalanda1(m): 9:12pm On May 09 |
Kelklein: Yes and such free money programmes...now continued under tinubu ....are part of the reason why we are in debt. I was not a fan of GEJ, but sure-p money went to things like public transport and roads.... But by the way, while IMF canvasses for the removal of what they called Implicit fuel subsidy, in their history of giving advice, I have never seen where they advised government officials to stop stealing public funds.. even when it was clear that the casj transfer they advocate is not getting to the target poor. Hoo boy IMF has said a LOT about corruption...here is a paper from 1997 self Infact here is IMF In 2022 advsing the Nigerian government on...corruption (Lordy, you think IMF Is not concerned about how the money they give us is being used?) Or they want to pretend that they don't know that a minster is this country was feeding school children in school while they were on lockdown in their parents' houses. 🤔🤔 Hence their above advise to Nigeria (second link). 1 Like |
Re: IMF to FG: Scale Up Cash Transfers To Poor Nigerians by grandstar(m): 9:41pm On May 09 |
CodeTemplar: You did not understand what they said Nowhere does the report say a thing about restructure and de-incentivise corruption. What the IMF said was that if you want to remove petrol and electricity, first put a safety net for the most vulnerable in the society. This is good. I have always supported Conditional Cash Transfers. The World Bank lent Nigeria $800m for it to be shared amongst 15m households. The problem on ground is that there is no database of those to disburse to. Conditional Cash Transfers are a very good way of assist the less privilege as it most often given to mothers (rarely fathers who may spend it on women, booze and gambling). It is means tested. It is also very economical. So, what should the government do if there's no database? That's the elephant in the room. I suggest find other ways to help the poor. One may be the lifting of the huge protective wall on many agricultural products Nigeria has no competitive or comparative advantage in such as rice, wheat and poultry. This will crash the price and make food more affordable to the poor. Government can go further and lift the ban on the importation of Okrika as well. The petrol and electricity subsidies needs to go. It is simply costing too much and simply increasing the nation's debt burden which is already unbearable. 5 Likes 3 Shares |
Oshiomhole Closes-down Benin Golf Club / Lagos PDP Sacks Chairman / How Many More Deaths? How Long Shall We Mourn?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 75 |