₦airaland Forum

geoworldedu:
Let me test if you are truly rich. Sama me small money to take confirm

Unfortunately it doesn't work that way at my level.
My people have to contact you and vett you. You have to understand there are lots of people asking me for money - and majority of them are NOT asking out of genuine need but greed

Lord have mercy!!

I read it up to the point where you stated that Nigeria was number one GDP in Africa because of the artificial overvalued currency and I knew right there that you either do not understand how GDP is calculated or you just wanted to be economical with facts.

GDP is not calculated using exchange rate but the Purchasing power parity index( a type of exchange rate that shows what consumers from different countries would pay for the same amount of goods and services). Nigeria's projected GDP fell from 1st to 4th now( and projected to be 5th behind SA, Egypt, Algeria, Ethiopia and Kenya by end of 2025) not necessarily because of fall in the exchange rate of naira but more because of the revised growth projections necessitated by some poorly implemented policies of the last 3-4 years and worsened by the current Tinubu administration's haphazard and disjointed approaches.

Again, I have been to SA many times but I am learned enough to also know that GDP is not driven by the infrastructures but by the value of your total output including extracted natural resources. That is why countries like Saudi Arabia( a non manufacturing giant) will be ahead of manufacturing powerhouses like Sweden(Auto/Pharmaceutical), Switzerland(Pharmaceutical), Thailand(Garment,Auto,etc), Norway, Belgium, etc, in the current pecking order of GDPs. Common sense should also have told you that even though MTN has its headquaters in SA, nearly 50% of its revenue is generated from Nigeria while SA contribured less than 23%. Something is behind that statistics. Productivity is higher in Nigeria.

Finally, I laughed it off when you began to compare per capita income. Your sense should have told you that anything per capita is driven by population and since Nigeria's population is almost 4 time of that of SA, such will be affected by sheer number of people living in Nigeria. This explains why the GDP per capita of countries like Luxembourg, Qatar, Norway, Switzerland are far better than that of USA despite having far lower overall GDP than the USA. Does that mean the USA's GDP was inflated??

All of these give credence to my initial assertion that you probably do not have the full idea of what you are talking about and just wanted to join the bandwagon without the necessary knowledge. Using budget to gauge prosperity of countries is completely wrong ans inept.

COMPAQ:
Fine, lets go to GDP. Sebi Nigeria has now dropped from number 1 to number 4, which is our normal position. We were only at number 1 because it was being propped up by an artificial overvalued currency.

If you've been to South Africa, you'll be wondering how Nigeria can have a bigger GDP. South Africa has 40,000MW of electricity powering auto manufacturing, diamond, gold and coal mining, robust tourism sector, largest banks on the continent, HQ of SHoprtite, MTN and many conglomerate businesses.

What does Nigeria have? A paltry 1.5mln barrels a day oil industry and Dangote Industries. Asides these two, what other industries do we have that are home grown? Maybe add Glo to that, but we all know Glo is struggling. And you really thought we had the largest economy?

And since you like per capita income, South Africa's is $6,200. Ours is like $1000.

DaddyCoool:
Unfortunately it doesn't work that way at my level.
My people have to contact you and vett you. You have to understand there are lots of people asking me for money - and majority of them are NOT asking out of genuine need but greed

Taah. Stop that thing you dey yarn there abeg. Right now 99.99%
of Nigerians are in need of money, not want o. I mean dire real need, of course except you are blind to this fact. Nobody at this time is asking for chicken change out of greed when they can barely feed one linear meal per day. Sama me cash jare. That is the only way to know if you are for real

geoworldedu:
Taah. Stop that thing you dey yarn there abeg. Right now 99.99%
of Nigerians are in need of money, not want o. I mean diregʻ real need, of course except you are blind to this fact. Nobody at this time is asking for chicken change out of greed when they can barely feed one linear meal per day. Sama me cash jare. That is the only way to know if you are for real

I'm not saying any of this to convince you. I'm only stating my reality. The ones in real need don't even rise up to the point of asking - I have to go looking for them. The ones in front are always the scammers and the greedy.
Your asking me to give you money is like some random guy asking Bill Gates to give him money

DaddyCoool:
I'm not saying any of this to convince you. I'm only stating my reality. The ones in real need don't even rise up to the point of asking - I have to go looking for them. The ones in front are always the scammers and the greedy.
Your asking me to give you money is like some random guy asking Bill Gates to give him money

So now you are Bill Gate right? Oga shift go one side mey I see road joor. Just say you no get dough and meuve instead of talking too much stories. When the needy were protesting on the streets few months back, where were you to supply their needs? You dey sleep like TPAIN ba? Kontinu

Ban domiciliary account. It can only favour the poor

geoworldedu:
So now you are Bill Gate right? Oga shift go one side mey I see road joor. Just say you no get dough and meuve instead of talking too much stories. When the needy were protesting on the streets few months back, where were you to supply their needs? You dey sleep like TPAIN ba? Kontinu

No, I'm not anywhere near Bill Gates but the situations are similar. Bill Gates is even better because he has no constituency (among whom are some greedy jealous people) feeling entitled to his personal wealth because they have it in their heads it's government money!

SUBSIDY REMOVAL IS GOOD. BUT MR. PRESIDENT MUST TAG THE NAIRA NOW AT N500 : $1 AND FIX PETROL PRICE AT N500 PER LITER.

Blazetrailer:
Lord have mercy!!

I read it up to the point where you stated that Nigeria was number one GDP in Africa because of the artificial overvalued currency and I knew right there that you either do not understand how GDP is calculated or you just wanted to be economical with facts.

GDP is not calculated using exchange rate but the Purchasing power parity index( a type of exchange rate that shows what consumers from different countries would pay for the same amount of goods and services). Nigeria's projected GDP fell from 1st to 4th now( and projected to be 5th behind SA, Egypt, Algeria, Ethiopia and Kenya by end of 2025) not necessarily because of fall in the exchange rate of naira but more because of the revised growth projections necessitated by some poorly implemented policies of the last 3-4 years and worsened by the current Tinubu administration's haphazard and disjointed approaches.

Again, I have been to SA many times but I am learned enough to also know that GDP is not driven by the infrastructures but by the value of your total output including extracted natural resources. That is why countries like Saudi Arabia( a non manufacturing giant) will be ahead of manufacturing powerhouses like Sweden(Auto/Pharmaceutical), Switzerland(Pharmaceutical), Thailand(Garment,Auto,etc), Norway, Belgium, etc, in the current pecking order of GDPs. Common sense should also have told you that even though MTN has its headquaters in SA, nearly 50% of its revenue is generated from Nigeria while SA contribured less than 23%. Something is behind that statistics. Productivity is higher in Nigeria.

Finally, I laughed it off when you began to compare per capita income. Your sense should have told you that anything per capita is driven by population and since Nigeria's population is almost 4 time of that of SA, such will be affected by sheer number of people living in Nigeria. This explains why the GDP per capita of countries like Luxembourg, Qatar, Norway, Switzerland are far better than that of USA despite having far lower overall GDP than the USA. Does that mean the USA's GDP was inflated??

All of these give credence to my initial assertion that you probably do not have the full idea of what you are talking about and just wanted to join the bandwagon without the necessary knowledge. Using budget to gauge prosperity of countries is completely wrong ans inept.

Nanyou no sabi anything. You say productivity is higher in Nigeria!? How can? The per capita income clearly says otherwise. Yes population is a factor but absolute numbers mean nothing until to unitize it. 2 separate families earning N20mln salary a month doesn't mean much until you contextualize it by saying one family is husband wife and 2 kids, while the other is husband , 3 wife's and 13 kids. You saying productivity is higher in Nigeria simply because MTN generated more revenue is extremely shallow. MTN may be a market leader here whereas they have much more competition in SA so they cannot do as well. Does that make Nigerians more productive as a people?

You were the one that touted GDP and per capita income in your earlier post. I went there and now you are jumping away from those indices again.

How can you have quality output, which impacts your domestic production without infrastructure like efficient ports, electricity, efficient transportation, railway etc

Oga you know not much about global economics.


GDP is calculated in Naira and compared in USD, yet you say devaluation had nothing to do with it! Jesus! So if I build a house last year for N100mln and another this year for N150mln, won't both go into the GDP calculation for each year? Now in dollars do they give the same value in each year? Last year N100mln was $222k, this year N150mln is $88k.

orisa37:
SUBSIDY REMOVAL IS GOOD. BUT MR. PRESIDENT MUST TAG THE NAIRA NOW AT N500 : $1 AND FIX PETROL PRICE AT N500 PER LITER.

Na so dem dey tag currency? He might as well just make it 1 to 1

COMPAQ:
Nanyou no sabi anything. You say productivity is higher in Nigeria!? How can? The per capita income clearly says otherwise. Yes population is a factor but absolute numbers mean nothing until to unitize it. 2 separate families earning N20mln salary a month doesn't mean much until you contextualize it by saying one family is husband wife and 2 kids, while the other is husband , 3 wife's and 13 kids. You saying productivity is higher in Nigeria simply because MTN generated more revenue is extremely shallow. MTN may be a market leader here whereas they have much more competition in SA so they cannot do as well. Does that make Nigerians more productive as a people?

You were the one that touted GDP and per capita income in your earlier post. I went there and now you are jumping away from those indices again.

How can you have quality output, which impacts your domestic production without infrastructure like efficient ports, electricity, efficient transportation, railway etc

Oga you know not much about global economics.


GDP is calculated in Naira and compared in USD, yet you say devaluation had nothing to do with it! Jesus! So if I build a house last year for N100mln and another this year for N150mln, won't both go into the GDP calculation for each year? Now in dollars do they give the same value in each year? Last year N100mln was $222k, this year N150mln is $88k.

If only you had a bit of pedagogy you could have saved yourself the public shame you are bringing yourself to. For someone who does not understand how to compute real GDP and the use of GDP/capita, making anything out of gibberish you wrote below is nauseating enough.

Now listen, the problem is not the indices you used(GDP/GDP per capita) but your conclusion and application from them.

For instance, globally nobody, i repeat, nobody calculates GDPs without normalising it for both inflation and exchange rate differences. A JS3 Economics student knows this. In calculating GDPs, nobody makes the dumb and smipleton-like error of just converting it to USD when the USD itself is subject to fluctuations against other currencies, It then means there would have to be multiple computations for one Country's GDP against other various currencies of the world if they need to compare. Surely, the world bodies(IMF/UN/World Bank,AfDB,WTO, etc.) are not that stupid. They use what is called PPP index which is a factor that takes into consideration all global currencies and their relative exchange rates to apply to their computation. Simply stating that you compute GDP in local currency and convert to USD shows clearly you do not have an idea of what you were talking about. Mentioning that Nigeria's GDP was overvalued showed your shallow understanding of how global economics worked. The global calculators don't use CBN rate or black market rate, they used the PPP index. Your stupid example above shows you to be an illiterate in Economics, it is not that simplistic.

On the per Capita issue, again you exposed your lack of knowledge. Per capita comparison is usually used when you want to individualize the prosperity of countries and never on a national basis. This is because it is now driven by the population and it can only be used to measure the conditions of individuals in different countries. For instance, Luxembourg as a GDP/capital of $142,214 while US has $76,399(2022 as per WTO data). What this means is that an individual in Luxembourg has a much higher production than and probably more wealth creation than an individual in the US. It would be dumb to state that Luxembourg has a better or larger economy that that of the US when in fact the US GDP is 250 times more than that of Luxembourg(US=$25.64 trillion vs Luxembourg=$82billion as of 2022). When using per capita to compare countries, subjection is made for the population. Only simpletons would blatantly use per capita computations without individualizing it. Again, a A JS3 student of Economics will consider himself a failure if he did that.

It also appears to me that you dont know what productivity means hence your blabbing about it. Productivity is defined as rate of output relative to the input. I used the MTN example to point out the fallacy and dumbness in your point that because MTN's HQ is in SA hence Nigeria could not have had a better GDP than SA. What an infantile assumption!! Its akin to saying that since Volkswagen has its headquarters in Germany, there is now way its market in China(VWs largest market in the world) can be bigger than that of Germany. For context, MTN Nigeria received 18% of the total global Capex expenditure of MTN Group but contributes 53% of the global EBITDA(source: 2022 MTN Group financials) whereas, MTN SA got 21% of the global Capex but contributed 29% of the Group's EBIDTA. What does that tell you? MTN Nigeria was more productive. Infrastructures and facilities do not translate to GDP, otherwise Japan would be number 1 in GDP compared to others.

I hope you have learnt something today. Please stop disgracing yourself.

Blazetrailer:
If only you had a bit of pedagogy you could have saved yourself the public shame you are bringing yourself to. For someone who does not understand how to compute real GDP and the use of GDP/capita, making anything out of gibberish you wrote below is nauseating enough.

Now listen, the problem is not the indices you used(GDP/GDP per capita) but your conclusion and application from them.

For instance, globally nobody, i repeat, nobody calculates GDPs without normalising it for both inflation and exchange rate differences. A JS3 Economics student knows this. In calculating GDPs, nobody makes the dumb and smipleton-like error of just converting it to USD when the USD itself is subject to fluctuations against other currencies, It then means there would have to be multiple computations for one Country's GDP against other various currencies of the world if they need to compare. Surely, the world bodies(IMF/UN/World Bank,AfDB,WTO, etc.) are not that stupid. They use what is called PPP index which is a factor that takes into consideration all global currencies and their relative exchange rates to apply to their computation. Simply stating that you compute GDP in local currency and convert to USD shows clearly you do not have an idea of what you were talking about. Mentioning that Nigeria's GDP was overvalued showed your shallow understanding of how global economics worked. The global calculators don't use CBN rate or black market rate, they used the PPP index. Your stupid example above shows you to be an illiterate in Economics, it is not that simplistic.

On the per Capita issue, again you exposed your lack of knowledge. Per capita comparison is usually used when you want to individualize the prosperity of countries and never on a national basis. This is because it is now driven by the population and it can only be used to measure the conditions of individuals in different countries. For instance, Luxembourg as a GDP/capital of $142,214 while US has $76,399(2022 as per WTO data). What this means is that an individual in Luxembourg has a much higher production than and probably more wealth creation than an individual in the US. It would be dumb to state that Luxembourg has a better or larger economy that that of the US when in fact the US GDP is 250 times more than that of Luxembourg(US=$25.64 trillion vs Luxembourg=$82billion as of 2022). When using per capita to compare countries, subjection is made for the population. Only simpletons would blatantly use per capita computations without individualizing it. Again, a A JS3 student of Economics will consider himself a failure if he did that.

It also appears to me that you dont know what productivity means hence your blabbing about it. Productivity is defined as rate of output relative to the input. I used the MTN example to point out the fallacy and dumbness in your point that because MTN's HQ is in SA hence Nigeria could not have had a better GDP than SA. What an infantile assumption!! Its akin to saying that since Volkswagen has its headquarters in Germany, there is now way its market in China(VWs largest market in the world) can be bigger than that of Germany. For context, MTN Nigeria received 18% of the total global Capex expenditure of MTN Group but contributes 53% of the global EBITDA(source: 2022 MTN Group financials) whereas, MTN SA got 21% of the global Capex but contributed 29% of the Group's EBIDTA. What does that tell you? MTN Nigeria was more productive. Infrastructures and facilities do not translate to GDP, otherwise Japan would be number 1 in GDP compared to others.

I hope you have learnt something today. Please stop disgracing yourself.

You are just turning around and around in circles and confusing yourself with big statistics. Big numbers are only useful based on the inference you can gain from them.

Cut and dice it anyway you like, Nigeria doesn't compare to any of those countries US, Luxembourg, or even SA.

Any which way and by whatever method, the GDP in Naira is converted and that's the main reason why it has dropped because our national output has not significantly changed between 2023 and now to account for our GDP dropping from $450bln to $284bln.

Stop majoring in the minor.

Of course it's expected that 2 countries of equivalent national productivity per person, but with a bigger population like America will have a larger GDP than the smaller one like Luxembourg.

The point is that Nigeria with 4times the population of South Africa, but one sixth the per capita GDP is a GROSSLY unproductive economy. And that lack of productivity is why the national revenue and budget is also low. If nobody is doing any productive activity, what profit can you tax!?

That's the point of the discussion, not slinging statistics and formular and insults up and down.

Besides I never said because MTN HQ is in SA, Nigeria could not have had a bigger GDP. I said that SA has more pan African conglomerates than Nigeria, of which MTN was one, so why wouldn't their GDP be larger. Go and read slowly again and don't be in a hurry to argue.

Speaking hypothetically if SA has 1000 companies with PAT above $100mln and Nigeria has only 120, and they both tax at 30%, doesn't it stand to reason that SA will have a bigger budget? And those 1000 companies business activities will impact the GDP as well. So there is a clear link between the GDP of a country and tax revenue and size of budget, except for countries that are massively skewed by natural resources like oil. And Nigeria isn't one of those cos the oil we have is too small to make a dent in a country of 200mln people.

Lol...Read what you wrote again.

For someone who started by stating that prosperity of nations are measured by Budgets....you have come along well. I am happy that you have not buttressed any of your points with solid statistical and verifiable evidence other than things you assumed, conjured, felt, believed or supposed. That is enough admission you dont know nada.

Do you think other cerebral people who measure GDP for comparison simply just take a value and divide it by one random exchange rate and then compare countries? If it were so, then you wouldnt need more than a primary school certificate to work in places like WTO,World Bank,IMF,UN, etc..

.....and if GDP were driven mainly by exchange rates, then China and Japan should not be ahead of countries like GB,Euro zone countries,Austratila, etc. because a country like China thay artificially devalues its currency on daily basis should have much lower GDP than those countries i stated above if you postulation were true.

Using number of industries to gauge GDP is very stupid to put it mildly. Hypothetically citing the number of industries as drivers of a GDP is not only dumbfounded but smacks of someone with little idea in even using the right logic for arguments. It is more fallacious to think GDP is a function of your industry alone, it includes other things as your natural resource extractions, services, etc. Any sensible person will recall that Nigeria surpassed SA in 2013/14 when Nigeria's GDP were revalued to include the entertainment industry andnother services oriented,m knes thatvwere not captured initially. it never mattered to the global bodies (UN,WHO, AfDB,WTO,IMF,World Bank, etc that use the stat)whether SA had 1000 times industries more than Nigeria. What is being valued is the total value of output. If it was wrongly inflated, they would have rejected it or adjusted for the inflation accordingky ans Nigeria would not have been 1st.

For the umpteenth time, Nigeria's GDP fell to 4th not necessarily because of the devaluation of naira but because of the contraction experienced in the production of goods and services and the forecasted contraction into the future. Read up! I am tired of telling you this. The IMF report of March 2024 never stated that Nigerias GDP was dropped to 4th in Africa because maira was weaker but because it grew slower than they forecasted ( 2.56% instead of 3.3%) and this was mainly due to dwindling production of oil output.

Your knowledge is so limited. I dont even bother to read the gibberish you write anymore( for fear of polluting my brian), i just post the remainder of points i had from my last post, even at that I know it will be more accurate than your nonsense.

COMPAQ:
You are just turning around and around in circles and confusing yourself with big statistics. Big numbers are only useful based on the inference you can gain from them.

Cut and dice it anyway you like, Nigeria doesn't compare to any of those countries US, Luxembourg, or even SA.

Any which way and by whatever method, the GDP in Naira is converted and that's the main reason why it has dropped because our national output has not significantly changed between 2023 and now to account for our GDP dropping from $450bln to $284bln.

Stop majoring in the minor.

Of course it's expected that 2 countries of equivalent national productivity per person, but with a bigger population like America will have a larger GDP than the smaller one like Luxembourg.

The point is that Nigeria with 4times the population of South Africa, but one sixth the per capita GDP is a GROSSLY unproductive economy. And that lack of productivity is why the national revenue and budget is also low. If nobody is doing any productive activity, what profit can you tax!?

That's the point of the discussion, not slinging statistics and formular and insults up and down.

Blazetrailer:
Lol...Read what you wrote again.

For someone who started by stating that prosperity of nations are measured by Budgets....you have come along well. I am happy that you have not buttressed any of your points with solid statistical and verifiable evidence other than things you assumed, conjured, felt, believed or supposed. That is enough admission you dont know nada.

Do you think other cerebral people who measure GDP for comparison simply just take a value and divide it by one random exchange rate and then compare countries? If it were so, then you wouldnt need more than a primary school certificate to work in places like WTO,World Bank,IMF,UN, etc..

.....and if GDP were driven mainly by exchange rates, then China and Japan should not be ahead of countries like GB,Euro zone countries,Austratila, etc. because a country like China thay artificially devalues its currency on daily basis should have much lower GDP than those countries i stated above if you postulation were true.

Using number of industries to gauge GDP is very stupid to put it mildly. Hypothetically citing the number of industries as drivers of a GDP is not only dumbfounded but smacks of someone with little idea in even using the right logic for arguments. It is more fallacious to think GDP is a function of your industry alone, it includes other things as your natural resource extractions, services, etc. Any sensible person will recall that Nigeria surpassed SA in 2013/14 when Nigeria's GDP were revalued to include the entertainment industry andnother services oriented,m knes thatvwere not captured initially. it never mattered to the global bodies (UN,WHO, AfDB,WTO,IMF,World Bank, etc that use the stat)whether SA had 1000 times industries more than Nigeria. What is being valued is the total value of output. If it was wrongly inflated, they would have rejected it or adjusted for the inflation accordingky ans Nigeria would not have been 1st.

For the umpteenth time, Nigeria's GDP fell to 4th not necessarily because of the devaluation of naira but because of the contraction experienced in the production of goods and services and the forecasted contraction into the future. Read up! I am tired of telling you this. The IMF report of March 2024 never stated that Nigerias GDP was dropped to 4th in Africa because maira was weaker but because it grew slower than they forecasted ( 2.56% instead of 3.3%) and this was mainly due to dwindling production of oil output.

Your knowledge is so limited. I dont even bother to read the gibberish you write anymore( for fear of polluting my brian), i just post the remainder of points i had from my last post, even at that I know it will be more accurate than your nonsense.

As far as I'm concerned you are just ranting. I gave an example to demonstrate something and you took it literally to say I meant GDP is just companies alone.

OF COURSE I KNOW THE COMPONENTS OF GDP. I JUST USED THAT TO MAKE A POINT!!!

All your rant doesn't address any specific issue. So what exactly is your point or message in all this? That Nigeria is a bigger and better country and economy than SA?? Ok congrats you are right! Nigeria is the best country in Africa even.

Lol....when a clown is found out and cornered by intellectual superiority of facts and figures, he resorts to irrelevants. That is a end stage in debates and arguments in courts especially when ego is involved. That is now happening to you.

My points:
1. Budget is never a measure of prosperity of nations

2. GDP is usually normalised before they are put together so exchange rate fluctuations and inflation are removed for a level playfield analysis.

3. GDP per capita is only brought in when you want to compare productivity of individuals or measure how well each citizen in a country has fared compared to another. It is never used on an aggregate basis

4. Nigeria's drop from 1st to 4th in Africa GDP ranking was not due to naira's devaluation but the reduction in production/output of the country necessitated by recession of the last 3 years and exacerbated by the terrible policies +cluelessness of the current administration.

5. Infrastructures do not determine productivity just as industries or its number dont determine a nations total output for GDP computation.

6. You should have a better understanding of productivity and PPP for computing GDP now

7. No one said Nigeria was better than SA, you simpleton! In fact, that has never been a point of discussion. What we have been trying to sink into your head since yesterday is that going by GDP alone, Nigeria was the bigger economy than SA until your fellow dimwits took over from 2015. In addition a "better" country is never judged by size of budget because using budget of nations to compare prosperity is dumb.

If the above had been accepted and added to your knowledge much earlier maybe you would have saved yourself the public embarrassment we have seen in the last few pages. Now everyone is aware that you actually have very little upstairs when it comes to Economics.

...oya go and sin no more. Pele!

COMPAQ:
As far as I'm concerned you are just ranting. I gave an example to demonstrate something and you took it literally to say I meant GDP is just companies alone.

OF COURSE I KNOW THE COMPONENTS OF GDP. I JUST USED THAT TO MAKE A POINT!!!

All your rant doesn't address any specific issue. So what exactly is your point or message in all this? That Nigeria is a bigger and better country and economy than SA?? Ok congrats you are right! Nigeria is the best country in Africa even.

lexy2014:
what are the consequences?

is tinubu living with the consequences?

Are you asking me?

t2luv1:
we in the USA just voted out an administration with 4.3 % of unemployment rate and an inflation rate close to 4%. In Nigeria, inflation is over 30% and the unemployment rate is close to 40%., and you are saying that people should learn to live with it. Partner I hear you.

If they don’t live with it what do you suggest they do? Pray tell?

Wail? Revert to subsidy and double exchange market?

ceejayluv:
I wonder what gave Buhari and Emefiele such ludicrous idea of having two disparate exchange channels.

It began long before Buhari and Emeifele.

FatherLord:
Even if you are not hungry, why not have empathy for others. Eventually government will reintroduce subsidies and manage the naira because you can’t put the cart before the horse. FG can’t keep disregarding this pressure

No going back on subsidy. We have to increase productivity and we must stop waiting on govt to do this.

spiSeyi:
And where has it lead us to because Saturday wey go sweet nah Friday we go take know. PBAT made a grave mistake by doing both at the wrong time. It doesn't make sense to float our currency when we producing nothing even our crude oil we can refine it here. And that of subsidy removal should have been implemented only when we have at least 2 functional refineries that serve 70-80% of our fuel consumption. PBAT only copied the IMF recommendations that was given to PMB which PMB the so called dumb guy didn't implement. The truth is Nigeria is going nowhere with this draconic and imperialist ideas from IMF

That is what every govt has tried and failed. Only a mad man will continue with the same method that has failed and expecting a different result

lereinter:
Wicked!

May the consequences innocent nigerians may encounter be transferred to you and your generation forever

Olodo. When it’s time for serious discussion, you are not relevant

wellmax:
Are you asking me?

yes I am asking you.

wellmax:
Subsidy must go.

Double exchange rate regime must go.

Someone has to take this decision and BAT has done it. Let’s live with the consequences

what are the consequences?

is tinubu living with the consequences?

wellmax:
That is what every govt has tried and failed. Only a mad man will continue with the same method that has failed and expecting a different result

what method was being tried that failed?

wellmax:
No going back on subsidy. We have to increase productivity and we must stop waiting on govt to do this.

why should there be no going back on subsidy?

who are the "we" that have to increase productivity?

productivity in what exactly should this "we" increase?

have you increased productivity?

what is the job of government that you say government should not be waited for?

lexy2014:
why should there be no going back on subsidy?

who are the "we" that have to increase productivity?

productivity in what exactly should this "we" increase?

have you increased productivity?

what is the job of government that you say government should not be waited for?

No going back on fuel subsidy removal. Love with it. Even if Tinubu does not return in 2027, no president will be foolish to return subsidy, except maybe Obi and Obi can never be president

LandMann:
🥲Did you read the cavet at the bottom of nl page? If you did then you and your source are the same so both of you are dirty stupid lying propaganda zombiés but if you didn't I implore you to read it again.
You have no right under any circumstance to deliberately misinform people else you're a thief or a government lying machine.
If you can't take a moment to even crosscheck information you post here for accuracy then how should anyone trust your mental judgement, the mental judgement of a copy and paste zombie?
November 14th you and your source posted N1712 per $ as against an average rate of N1735-1739 across Nigeria markets. To what end and to whose benefit?

All this does is confirm for us all that the Nigerian Government continues to hoodwink the people with lies on top of more lies since it instead claims that all Fx windows have been collapsed into one, a claim which is obviously false.

COMPAQ:
The policies could have been done better, but those subsidies HAD to go!! Simply unsustainable. We are a poor country!

Most people who read this will say what about our oil riches...

How is South Africa with no oil able to have a budget of $133bln, while ours, even with our plenty oil is $32bln

Even Egypt that has never been know as an oil giant has a budget of N98bln

This oil has made us damn lazy for the last 40 years!! And while other countries have built industries in key areas that generate tax and export revenue...not to talk of tourism, Nigeria crossed its legs and went to sleep as the oil flowed.

EXACTLY.

DO YOU PEOPLE REALISE THAT NIGERIA WAS BORROWING 10 BILLION DOLLARS A YEAR TO PAY FUEL SUBSIDIES?

YOU PEOPLE ARE NOT SERIOUS.

BUHARI WAS THE ONE WHO ENDED THOSE SUBSIDIES BY REFUSING TO INCLUDE ANY PROVISION FOR IT IN THE 2023 BUDGET HE HANDED OVER TO TINUBU.

WHEN TINUBU GOT IN, HE SAID HE WOULD NOT BORROW ANOTHER 10 BILLION DOLLARS FOR YEARLY SUBSIDIES.

SUBSIDY REMOVAL IS GOOD BUT TINUBU MUST TAG THE NAIRA AND REGULATE THE ECONOMY AND ITS PRICES.

THAT'S PRESIDENTIAL POWERS AND PREROGATIVE OF GOOD RECKONING

wellmax:
No going back on fuel subsidy removal. Love with it. Even if Tinubu does not return in 2027, no president will be foolish to return subsidy, except maybe Obi and Obi can never be president

still leaves the questions unanswered.

why should there be no going back on subsidy?

who are the "we" that have to increase productivity?

productivity in what exactly should this "we" increase?

have you increased productivity?

what is the job of government that you say government should not be waited for?