₦airaland Forum

But God can take whatever HE wishes back for his creatures to survive

Nigeria is finished I repeat Nigeria is finished all citizens needs to abandon 🚢 ship let's head to Paris France 🇪🇺🇫🇷 Nigeria is gone

olaniyilukman:
Tinubu is not doing well at all, how on Earth do you float your currency against foreign currency that you don't have absolute çontrol over, what manner of leadership is this

Exchange rate he met at 407 naira to dollar. At official rate. This idiot devalued it to 1600. 4times the value he met. Who is giving him advice.. for Gods sake...

Bobloco:
https://dailytrust.com/no-going-back-on-forex-subsidy-reforms-finance-minister/

foreign exchange rate that keeps moving upward with no end in sight.

Anytime this idiot and his fellow idiot CBN governor talk, you’ get more insight on how dumb and clueless they are, just like their principal and supporters.

Foolish people that have destroyed this beautiful country with their useless policies they call reforms.

Kobojunkie:
How exactly do you expect the government to go back after it has literally embezzled (and mismanaged the rest) the funds hat were saved from removal of subsidy, money(in addition to that saved from reducing government bloat) would have sensibly gone to implementing and sustaining Safety Net programs for the poor and disenfranchised? Where do you expect the government to get money to reinstate fuel subsidy of the kind that existed before the May 29th, 2023 debacle? At this point, why?

Lol... People that borrow money to embezzle!

Keep deceiving yourself. T-Pain has automatically created poverty with his draconian economic policies. Policies are to improve government deficiencies and citizenry well-being. Tinubu failed in this aspect. A wise man will reverse his failed reforms.

PheelzAlmighty:
Apc is the worst thing to happen to Nigeria and Nigerians. Even Gen Sani Abacha no do reach half😁
Nigerians are dumb and clueless by default.
#Spits

APC is not the worst thing that happened to Nigeria but Nigerian greed and self is the issue here,

Bebigiby1:
I hope Tinubu and his government are prepared for impending chaos these harsh policies will cause in due time....

The harsh reality is that the reform should have been implemented in 2007 under OBJ but was reversed under Yaradua. GEJ tried to implement it, but he was a coward and backed down under pressure from NLC, Buhari, and Nigerians.

Buhari's failure to implement economic reforms meant that Nigeria borrowed $47 billion, printed N27 trillion, and mortgaged future oil earnings for five years to fund the oil subsidies and protect the Naira.

The country is unproductive and broke. The reforms cannot be reverse

olaniyilukman:
Tinubu is not doing well at all, how on Earth do you float your currency against foreign currency that you don't have absolute çontrol over, what manner of leadership is this

Please for how long do you want the government to keep defending the naira with borrowed Forex? Can you pls provide answer to this?

Kobojunkie:
How exactly do you expect the government to go back after it has literally embezzled (and mismanaged the rest) the funds hat were saved from removal of subsidy, money(in addition to that saved from reducing government bloat) would have sensibly gone to implementing and sustaining Safety Net programs for the poor and disenfranchised? Where do you expect the government to get money to reinstate fuel subsidy of the kind that existed before the May 29th, 2023 debacle? At this point, why?

You are writing from a point of ignorance. There is no saving from the removal of oil subsidies. Nigeria was borrowing to fund oil subsidies.

Buhari's failure to implement economic reforms meant that Nigeria borrowed $47 billion, printed N27 trillion, and mortgaged future oil earnings for five years to fund the oil subsidies and protect the Naira. The country was generating debt and that has to stop.

sulaak:
■ You are writing from a point of ignorance. There is no saving from the removal of oil subsidies. Nigeria was borrowing to fund oil subsidies.
■ Buhari's failure to implement economic reforms meant that Nigeria borrowed $47 billion, printed N27 trillion, and mortgaged future oil earnings for five years to fund the oil subsidies and protect the Naira. The country was generating debt and that has to stop.

Stop rambling unnecessarily! 🙄🙄🙄🙄🙄

If Nigeria was borrowing to fund oil subsidies and then it no longer had to pay for subsidies at some point, is that then a sort of saving... albeit borrowed money it could use for something else other than paying for subsidies? 🙄🙄🙄🙄🙄

2. Abeg stop bullsheeting o'jare! We are speaking now of this administration and the much it too has squandered in just 17months of being in office. 🙄🙄🙄🙄🙄

Using the masses to do trial and error. Tinubu na one chance.

sulaak:
■ The harsh reality is that the reform should have been implemented in 2007 under OBJ but was reversed under Yaradua. GEJ tried to implement it, but he was a coward and backed down under pressure from NLC, Buhari, and Nigerians.
■ Buhari's failure to implement economic reforms meant that Nigeria borrowed $47 billion, printed N27 trillion, and mortgaged future oil earnings for five years to fund the oil subsidies and protect the Naira. The country is unproductive and broke. The reforms cannot be reverse

Go back... Obasanjo implemented the phasing out of fuel subsidies and the phased devaluation of the Naira beginning in at least 2004. There are reports of this through the regime, as well as IMF/World Bank, reports. Unfortunately, subsequent administrations chose to roll back many of the implementations rather than continue them.

2. Buhari, whose many failures will forever follow him, is in no way to blame for Tinubu's failures. Tinubu, rather than draw down fuel subsidies while setting up Safety measures to carry the people along, chose to pull the rug from under the people's feet claiming Nigerians would hardly be impacted by the removal of subsidies; yes, his bunch of propagandists went on tv, some even live, to claim that complete removal of subsidies would not impact the economy in any way. After that glass shattered, rather than wait for the dust to settle and people to get their bearings, Tinubu went on to float — not devalue the naira —, again, claiming that it wouldn't do much harm but resolve the first problem. And we all know what followed. 🤔

Of course, since then, the administration has sought to blame everyone — Nigerians, Peter Obi, Binnance, and more recently, IMF/World Bank, and eventually the Buhari regime for all of its many debacles. But we all know that Tinubu has nothing tangible to offer; he forced his way into office without a plan, as Obasanjo said. 🤔

Does subsidy reforms now refers to as oil and gas sector reforms I don't get

sulaak:
You are writing from a point of ignorance. There is no saving from the removal of oil subsidies. Nigeria was borrowing to fund oil subsidies.

Buhari's failure to implement economic reforms meant that Nigeria borrowed $47 billion, printed N27 trillion, and mortgaged future oil earnings for five years to fund the oil subsidies and protect the Naira. The country was generating debt and that has to stop.

Really!!! Has the government stopped borrowing or piling up debts now that they have removed subsidy.
Keep deceiving yourself zombie.

Bunch of certificates forgers are occupying our economy driver seat and Nigerians think everything will be good. The have managed to bribe their ways into government the reason good news is never happening in Nigeria anymore. The atmosphere is bad news always.

Don't ever compare Abacha's economy to any government of today

PheelzAlmighty:
Apc is the worst thing to happen to Nigeria and Nigerians. Even Gen Sani Abacha no do reach half😁
Nigerians are dumb and clueless by default.
#Spits

See dis Evil tribal biggot typing trash.......Oh! U think u are invisible? Spineless Baptist....Ebola Cruna coupled with T-Painstaker 😂 😂 😂 😂 😂

Ikaeniyan0:
Government needs to find way to stabilize the exchange rate, it keeps on falling

Many of these reforms are now permanent.

Subsequent Presidents will be happy a President before them took the difficult decisions and also took all the blame.

But no future President will reintroduce fuel subsidy.

They will be happy subsidy is done and dusted.

As a reformist President, Mr Tinubu is miles ahead of all past Presidents going all the way back to Mr Obasanjo.

Ikaeniyan0:
Government needs to find way to stabilize the exchange rate, it keeps on falling

Stabilize? Do you know how much it costs to keep the Naira propped up given Nigeria produces nothing to back it up with?

Without thinking Tinubu floated the naira even with the damage from his stewpid removal of fuel subsidy still playing out before all of our eyes. This almost immediately resulted in the freefall of the naira and an overnight rise in inflation. Many companies have packed up and left Nigeria for good as a result and with industries near a grinding halt at the moment, where do you expect Nigeria to get money to continue to prop up the naira? Let me guess, from taxing the already tired and depleted masses? The best the government can do at this point is cut bloat everywhere it can but I seriously doubt the Tinubu administration which thrives on exactly that can even consider that worth pursuing at this point. With 7 new ministers sworn in today, the government does not seem ready to trim the fat at all. And we have yet to hear that it has even begun paying the new wages —70K minimum wage— to the people at any level as we speak. 🤔

What is getting stabilize?

richmond500:
I think it is getting stabilized.
For almost a month, nobody talks about exchange rate. Unlike what we had earlier this year till August and early septemeber

Do we export petrol?

ednut1:
Since we no longer export petrol and consume less how come exchange rate hasn’t gone down? 🤭

richmond500:
■ I think it is getting stabilized. For almost a month, nobody talks about exchange rate. Unlike what we had earlier this year till August and early septemeber

Let's stop deceiving ourselves all while thinking we deceive others by so doing. 🙄🙄🙄🙄

Tinubu originally floated(did not devalue) the Naira... the money has been falling since then. Attempts have been at several junctions to stabilize by pouring dollars down the drain but so far, none of that has been able to stop it from falling. Between August and September, over $100 million has been used to try to keep the Naira from falling below Naira 1600, but that has failed and it is now above Naira 1700 and continues to fall. CBN has been quiet on how much it is spending on shoring up the currency but I doubt it has stopped doing so at this point.

Was abacha regime worst?

I heard that during abacha's tenure, things were cheap. business was also going fine in the market places. His only problem was that he was an assassin and a murderer( he kills political opponents).

crossbreedwears:
Don't ever compare Abacha's economy to any government of today

Love800:
Was abacha regime worst?

I heard that during abacha's tenure, things were cheap. business was also going fine in the market places. His only problem was that he was an assassin and a murderer( he kills political opponents).

You heard wrong. There was really no improvement to be recorded in the lives of average Nigerians during the Abacha days. I mean he literally accomplished nothing tangible except loot Nigeria's money like IBB before him did.

Love800:
Do we export petrol?

import rather

Okay.

ednut1:
import rather

Okay.
Thanks.

Kobojunkie:
You heard wrong. There was really no improvement to be recorded in the lives of average Nigerians during the Abacha days. I mean he literally accomplished nothing tangible except loot Nigeria's money like IBB before him did.

Bobloco:
https://dailytrust.com/no-going-back-on-forex-subsidy-reforms-finance-minister/

You all are confused idiots including Tinubu.

You have no clue of what it takes to increase productivity and create jobs, you are just saying it with mouth because talk is cheap abi?

Fuel subsidy removal was required, but they should find a way to subsidize food, which affects the masses, or take a cue from the Buhari 1’s essential commodities policy.

ToyinDipo:
Fuel subsidy removal was required, but they should find a way to subsidize food, which affects the masses, or take a cue from the Buhari 1’s essential commodities policy.

Take a cue from what? No be Shagari be that?