₦airaland Forum

2015 global economic recession and Covid19 lockdown made Buhari administration to solely relied on loan to pay salaries and finance capital projects.

Despite these challenges, Buhari continue to subsidize petrol and dollars, by pegging dollars officially to #450 as the time a dollar worth 900, 950. These Buhari economic policies means rising debt profile.

But when Tinubu came, he felt Nigerians must go through the pain of the economic woes rather than allowing the country to collapse. 97% revenue to debt servicing means, the country is on the brink and borrowers will not continue to give loan.


CBN under Tinubu is not selling dollars to the public as it was under Buhari instead, the dollars were channelled towards debts servicing reason why naira is depreciating.


But at what ratio will the government give priority to naira appreciation instead of debt servicing?

Although, the CBN has given those who have dollars outside banks 9 months ultimatum.

H

If not for the reforms , we would have become like Argentina that defaults on its loans every 5ys and have to knock off extra zeros from our currency.

Emefile intended to use his cash heist in the form of cashless policy to mop up the excess 40 Trillion naira he printed from thin air.

Even at the pegged naira FX rate of #480, most businesses an Nigerians ere barred from accessing FX directly from the CBN .

The situation was so bad that the CBN could not even repatriate FX to foriegn airlines and other multinational companies. This saw to the airlines reviewing ticket sales by over 300% to what the will charge in other countries. The airlines knew that the CBN could not meet their FX reparation window and so jacked up their ticket cost at what is now the current naira rate .




Buhari's 8ys was the worst thing to happen to Nigeria.

AntiZikist:
If not for the reforms , we would have become like Argentina that defaults on its loans every 5ys and have to knock off extra zeros from our currency.

Emefile intended to use his cash heist in the form of cashless policy to mop up the excess 40 Trillion naira he printed from thin air.

Even at the pegged naira FX rate of #480, most businesses an Nigerians ere barred from accessing FX directly from the CBN .

The situation was so bad that the CBN could not even repatriate FX to foriegn airlines and other multinational companies. This saw to the airlines reviewing ticket sales by over 300% to what the will charge in other countries. The airlines knew that the CBN could not meet their FX reparation window and so jacked up their ticket cost at what is now the current naira rate .




Buhari's 8ys was the worst thing to happen to Nigeria.

Although we are all facing the hardship, but Tinubu is on the right path

Despite the need to properly managed our FX, Buhari aids and Emefiele were selling tbe dollars to bureau de change at exorbitant price different from 450 official price. Meaning what should have gone to government was going to private individuals

Biodun556:
Although we are all facing the hardship, but Tinubu is on the right path

This is where Tinubu should be blamed because he brought in that disaster bandit government of Buhari.

Tinubu is now saddled with cleaning their mess and not that he has a choice either.

AntiZikist:
This is where Tinubu should be blamed because he brought in that disaster bandit government of Buhari.

Tinubu is now saddled with cleaning their mess and not that he has a choice either.

But the northerners prefer Buhari because it was their turn,

although they didn't respect the rotational presidency by bringing another northerners after Buhari 8yrs

Biodun556:
But the northerners prefer Buhari because it was their turn,

although they didn't respect the rotational presidency by bringing another northerners after Buhari 8yrs

The problem I have with a Tinubu presidency which I was opposed to was because I felt he will cover up for those crooks in the cabal which he is doing today.

Tinubu is suffering in silence and taking the blame for the monumental heist of the past government.

As per competency, Tinubu is more than qualified .

He has also shown rare balls that even Obasanjo did not have. He has the courage unlike GEJ who knew what to do but was too interested in politics. If GEJ had gone ahead to remove subsidy and duly grant license to modular refinaries we won't be here. Even Buhari won't have dared reversed the deregulation and subsidy removal policy.

Tinubu is doing what GEJ failed to do. And it appears that same Tinubu who is a political animal is ready to sacrifice his second term ambition to save the country from bankruptcy. For this I respect him.

Biodun556:
2015 global economic recession and Covid19 lockdown made Buhari administration to solely relied on loan to pay salaries and finance capital projects.

Despite these challenges, Buhari continue to subsidize petrol and dollars, by pegging dollars officially to #450 as the time a dollar worth 900, 950. These Buhari economic policies means rising debt profile.

But when Tinubu came, he felt Nigerians must go through the pain of the economic woes rather than allowing the country to collapse. 97% revenue to debt servicing means, the country is on the brink and borrowers will not continue to give loan.


CBN under Tinubu is not selling dollars to the public as it was under Buhari instead, the dollars were channelled towards debts servicing reason why naira is depreciating.


But at what ratio will the government give priority to naira appreciation instead of debt servicing?

Although, the CBN has given those who have dollars outside banks 9 months ultimatum.

We need evidence

AntiZikist:
The problem I have with a Tinubu presidency which I was opposed to was because I felt he will cover up for those crooks in the cabal which he is doing today.

Tinubu is suffering in silence and taking the blame for the monumental heist of the past government.

As per competency, Tinubu is more than qualified .

He has also shown rare balls that even Obasanjo did not have. He has the courage unlike GEJ who knew what to do but was too interested in politics. If GEJ had gone ahead to remove subsidy and duly grant license to modular refinaries we won't be here. Even Buhari won't have dared reversed the deregulation and subsidy removal policy.

Tinubu is doing what GEJ failed to do. And it appears that same Tinubu who is a political animal is ready to sacrifice his second term ambition to save the country from bankruptcy. For this I respect him.

Truth


Even the presidency recently make jest of Obasanjo that he started deregulation but later "chicken out". The same fear of losing election and followers affected all of them. But Tinubu is behaving as if he will not seek second term

Biodun556:
Truth


Even the presidency recently make jest of Obasanjo that he started deregulation but later "chicken out". The same fear of losing election and followers affected all of them. But Tinubu behaving as if he will not seek second term

It's really ironic that the most political beast of a politician in the form of Tinubu is ready to play the patriot role and sacrifice his own long held ambition.

For this, I respect Tinubu.

The OP is talking nonsense. The recent loans have a suspended repayment until few years down the line whennit is logical that the projects being executed will begin yielding fruits.

The problem with those is that OP, in his usual mischief, is trying to pass off the suspended repayment and its resultant effects as fruits of the calamitous APC govt.
The kind of projects being executed are actually needless ones that they hope to toll in the long run but are inflating in the short term to maximize their looting returns.

AntiZikist:
It's really ironic that the most political beast of a politician in the form of Tinubu is ready to play the patriot role and sacrifice his own long held ambition.

For this, I respect Tinubu.

Mumu talk. This is down to suspended debt repayments an not one aggressive taxman looting the system.

mrvitalis:
We need evidence

You don't even deserve to be seen talk more of being heard or entertained .

Biodun556:
2015 global economic recession and Covid19 lockdown made Buhari administration to solely relied on loan to pay salaries and finance capital projects.

Despite these challenges, Buhari continue to subsidize petrol and dollars, by pegging dollars officially to #450 as the time a dollar worth 900, 950. These Buhari economic policies means rising debt profile.

But when Tinubu came, he felt Nigerians must go through the pain of the economic woes rather than allowing the country to collapse. 97% revenue to debt servicing means, the country is on the brink and borrowers will not continue to give loan.


CBN under Tinubu is not selling dollars to the public as it was under Buhari instead, the dollars were channelled towards debts servicing reason why naira is depreciating.


But at what ratio will the government give priority to naira appreciation instead of debt servicing?

Although, the CBN has given those who have dollars outside banks 9 months ultimatum.

It's a very big achievement

CodeTemplarr:
Mumu talk. This is down to suspended debt repayments an not one aggressive taxman looting the system.

Nah fool.

This is down to lowered imports due to high FX rate due to naira being floated.

Most of that oil money is going back to pay for Buhari's senseless borowing spree and your importers of substandard crap are the ones now facing the brunt.

Tinubu's policy will revive Nigeria's industrial base that was destroyed by Alex Ekweme's import friendly policies that empowered your yeast during Shagari's era at the detriment of SW industrial base.

This is the reason you 2x2 traders are complaining.

CodeTemplarr:
The OP is talking nonsense. The recent loans have a suspended repayment until few years down the line whennit is logical that the projects being executed will begin yielding fruits.

The problem with those is that OP, in his usual mischief, is trying to pass off the suspended repayment and its resultant effects as fruits of the calamitous APC govt.
The kind of projects being executed are actually needless ones that they hope to toll in the long run but are inflating in the short term to maximize their looting returns.

0su ranting trash.

When has the Jew Shylocks in the World Bank or IMF ever done that ?

Don't mention loan forgiveness under Obasanjo because those loans that were forgiven were crooked loans taken by the military dictators. There was even a loan that was taken to buy canned food for the army that will expire in one year and there was no evidence of the money ever finding its way to Nigeria.



The very reason for international Jewry ursury is to create a funnel for wealth to return back to Jewish banks.


You think those coin clipping Jews are operating a charity ?

CodeTemplarr:
Mumu talk. This is down to suspended debt repayments an not one aggressive taxman looting the system.

Trash.

Provide evidence to your claim


Judas does not operate a charity.

The deregulation of the FX market has seen to a backlog of international obligations to multinational companies who have been billing you through the roof like in the airline industry finally repartraiting their funds out if Nigeria.

Your 0su importer ventures can't compete.

Ask yourself who will bid against the naira so high ? It's definitely not any one interested in importing goods rather it's does who want to repartraite their funds back to their corporate headquarters .

Foolish 0koro. When we tell you that trading is not business you go dey foam for mouth.