₦airaland Forum

Proudlyngwa:
Government is meant to make policies and enabling environment, but the military has changed our ideology to a caregiver mentality, which is why policies rarely work, and instead government keeps applying cushioning effect which worsens the situation.

My brother, military has left power over 20yrs ago. This excuse are not tenable. Are you saying that military are more human friendly than the democratic government?

TJOS:
Take a closer look: education in Nigeria is facing a crisis, and the burden has shifted heavily onto Nigerians, who are now paying exorbitant fees in federal tertiary institutions. Have you noticed why federal institutions are dropping in Nigeria and global rankings? There are no significant projects being executed, compounded by the "Band A" status all tertiary institutions are grappling with.

At the University of Ibadan, for instance, MSc students are just two months away from their project defense, yet many have made little progress. They are unable to pay their third-semester fees, let alone begin meaningful work on their projects, which are further hindered by persistent power outages.

Nigerians are bearing the brunt of this poor leadership under Tinubu’s administration.

Its failure of leadership at all levels...
Even the profs are not thinking ...
Why are federal institutions on National Grid..for 40 yrs .?
When they can move to Solar some donkey years back....
Katsina..Sokoto Maiduguri...Zaria etc are in the core North with abundance of sunlight....
My daughter attend a Catholic Boarding school....its all on solar 24 hours...
Most of the Catholic Boarding schools are on solar...

nairalanda1:
But it clearly started out with more than what Lagos or Nigeria ever had, because...they produce twice as much oyel as we do for less than 15 million people today.

When NIgeria was already in the 80million range, or at least close.

All because your leaders did not take our economy to an economy that is dependent on exports of manufactured goods and services. That is what serious countries do.

My brother, $68b might be big now and $1.2b might be small. But let’s look at the value of the two figures 10yrs ago before APC took over. In 2014, I had N10m which was more than $50k. Today that same N10m is now less than $6k. At some point in time, Lagos was making more money than Dubai.

ibabz:
My brother, military has left power over 20yrs ago. This excuse are not tenable. Are you saying that military are more human friendly than the democratic government?

I am saying Nigerians still have the mindset of how military ran the country, that is everything must be provided by the government.

Otherwise paying tax should not be a problem to them.

Forming cooperative should not be a problem to them

Banks giving out loans and grants should not be a problem

Electricity generation by private individuals should not be a problem.

But No to 90% of Nigerians, Government must provide this.
This is the mentality military left with us and with that mentality we can't move a step forward

nairalanda1:
So, how else do we fund education?

We spend less than 3 billion dollars on universites, prinary and secondary schools...when we should be spending at least 100 billion dollars.

Come now, our leaders not taking us the right way development wise is why we rely on a very poor treasury to meet needs that cost 10 to 100 times what we got in the bank. So we borrow...because the reality means higher fees, and much higher fees.

The best way to fund education is by improving the quality of life for those paying for it. Creating more jobs and enforcing strong labor laws would enable people to afford tuition, even if fees were increased by 200%. With better opportunities and earnings, people would willingly pay.

Right now, however, saving even ₦100,000 after current economic expenses feels impossible. Just two years ago, I could confidently save that much, but now, I can barely save anything at the end of the month.

Another pressing issue is electricity costs. Schools can't sustain operations with skyrocketing bills, even if they overtax students. Without ongoing projects, schools lack the resources they need. Imagine a microbiology student struggling to get electricity to conduct research. Progress slows, costs escalate, and results remain minimal.

Instead of endlessly importing goods, Nigeria would benefit more from investing in factories to create jobs and produce goods locally, selling at affordable rates. This would reduce reliance on imports and foster self-sufficiency.

Moreover, the government’s approach to trade is flawed. Why buy and sell in dollars when we could trade in commodities? For example, exchanging oil for gold or uranium would make more sense. Let medium-sized companies handle transactions in dollars or even naira if they choose. This shift could revitalize our economy and reduce the strain on ordinary Nigerians.

Willie2015:
Its failure of leadership at all levels...
Even the profs are not thinking ...
Why are federal institutions on National Grid..for 40 yrs .?
When they can move to Solar some donkey years back....
Katsina..Sokoto Maiduguri...Zaria etc are in the core North with abundance of sunlight....
My daughter attend a Catholic Boarding school....its all on solar 24 hours...
Most of the Catholic Boarding schools are on solar...

Our government is failing to focus on the right priorities. For instance, companies like Jubaili Agrotec (Global Alliance for Chemical) employ numerous Lebanese workers in Nigeria, yet these workers are paid directly into accounts in their home countries. Similarly, companies like Rite Foods pay their Pakistani workers overseas in their offshore account. These are funds that should be circulating within our economy but are instead being siphoned out.

Policies must be implemented to address this issue. If foreign workers cannot earn in naira, they should return to their home countries.

Additionally, as you rightly pointed out, large institutions should be encouraged to generate their own electricity. Solutions like solar power or CNG-based private electricity generation should be promoted to reduce reliance on the national grid and support sustainable development.

Richtaiwo:
For the illiterates thinking Nigeria has more than enough resources and should therefore provide every damn thing for over 250 million citizens, this current debt should disabuse your minds.

$45 billion, though very huge, shouldn't really be a serious issue on a national scale if the country is that rich as believed in some quarters. That $45 billion is less than some countries' proposed annual expenditure in a single sector of their economy.

would you say this thrash if Peter Obi was the president?

Thrasher2024:
would you say this thrash if Peter Obi was the president?

I can only imagine Peter Obi as the governor of Anambra state. How can I start imagining what can never be?

nairalanda1:


Look, you guys don't know how bad it is for us.

80% of our revenue comes from oil. Let it sink in...80% of our revenue comes from oil. 20% comes from other sources, including tax. Tax does not account for a large amount of our revenue. Add the fact that the oil revenue comes from 1.3m bpd. Not enough for a nation of 5 million.

That is why we should not have voted for tinubu. We should have voted for a leader that would have promoted production, promoted widening the tax base and economic diversificaiton, plus total removal of subsides on power and education.

Subsidy still dey on education...primary and secondary...as well as health and for 80% of consumers of electricity. (those who are not on band A).

The truth is, our government borrows, because to not borrow means they would have to tax the 70% of Nigerians who do not pay taxes, and force every NIgerian to pay premium for electricity, and remove subsides on health and non-teritiary educaiton....and guess what...it means riots.

Tinubu is borrowing because he no wan face reality. Like every Nigerian politican, he takes bad decisions to get elected again and again.

He doesnt have a choice. . How do you continue to tax and country's citizen with $1.1 per capital income at Q4, 2024.

Nigerians are one of the poorest in Africa currently. We are at the base of the ranking now. How much tax do you want to squeeze out of those people again?

The only forward is to fight or undermine corruption in the system, and create alternative revenue stream/s by the side.

Am not sure Tinubu is ready for that sacrifice. So, he will only continue to borrow even to offset reccurent expenditures such as salaries.

The sooner we understand this....the better for us all. If you can for three minutes ... put your politics ... your religion and your tribe aside and think for yourself. The big picture. Except South America .... the rest of the world cannot survive without Africa. They exist on raw materials from Africa period....the reason why they are all in Africa. It is their policy not to allow any country in Africa to control its resources. Any country trying that will be destabilized by sanctions or other means and if these don't work... assassination. To avoid going to these extents ... they go for leaders who will sell out. One like Tinubu they love to death .... greedy ...selfish and materialistic people who do not care a damn about the country nor the welfare of the people. They love a puppet.... and Tinubu is one from heaven. Why? ... he has a drug case in the US that has not been closed. If he does not do as told... that case will be revisited and he dragged in to face drug related charges. The main way of keeping Africa in bondage is by debts .... having a country so deep in dept that it becomes controlled by the lender. Whatever billions Tinubu asks for ...the World Bank and IMF will give to him... knowing Nigeria will be unable to service them. Then what? ... they will say we will be mining your gold ... your lithium ... we will be using your land to have large scale farms .... there must be freeze on wages ... you must privatize your public assets ... giv up your pristine beaches and allow international hotel chains to build and control them ... allow your soldiers and Police to keep the masses in check .... keep them off of there land and away from our developments. Allow Public Private Partnerships... which we are hearing a lot about and many support not knowing we are being taken over by them. The government does the bulk of the funding while the private entity swallows the profits. None of our present crop of politicians have the country at heart .... they are all the same....puppets. Niger coup... tired of being exploited ... trying to control their resources .... what does this our puppet and the others in ECOWAS do?.... threaten to invade if they do not reinstate the leader to continue the exploitation. We need to see the bigger picture... our leaders are puppets... oppressors.... sell outs ... traitors... but we continue to vote for them.

Nigeria is really going down daily.

adenigga:
Source: https://punchng.com/Nigerias-external-debt-may-hit-$45bn-before-january

But one of the headlines read " Tinubu Determined To Change Nigeria’s Fortunes – Shettima"

Richtaiwo:
For the illiterates thinking Nigeria has more than enough resources and should therefore provide every damn thing for over 250 million citizens, this current debt should disabuse your minds.

$45 billion, though very huge, shouldn't really be a serious issue on a national scale if the country is that rich as believed in some quarters. That $45 billion is less than some countries' proposed annual expenditure in a single sector of their economy.

People like you need to to be tied on a stake every morning and flogged 24 lashes, so that you will have sense.
Stupid people like you are a threat to Nigeria more than Boko Haram and Bandits

nairalanda1:


Look, you guys don't know how bad it is for us.

80% of our revenue comes from oil. Let it sink in...80% of our revenue comes from oil. 20% comes from other sources, including tax. Tax does not account for a large amount of our revenue. Add the fact that the oil revenue comes from 1.3m bpd. Not enough for a nation of 5 million.

That is why we should not have voted for tinubu. We should have voted for a leader that would have promoted production, promoted widening the tax base and economic diversificaiton, plus total removal of subsides on power and education.

Subsidy still dey on education...primary and secondary...as well as health and for 80% of consumers of electricity. (those who are not on band A).

The truth is, our government borrows, because to not borrow means they would have to tax the 70% of Nigerians who do not pay taxes, and force every NIgerian to pay premium for electricity, and remove subsides on health and non-teritiary educaiton....and guess what...it means riots.

Tinubu is borrowing because he no wan face reality. Like every Nigerian politican, he takes bad decisions to get elected again and again.

The truth is this our leader are thieves. With proper fiscal management we will never be in this mess.

Tempelton:
S

...For Satanic regime of Tinubu.

Believeintruth:
People like you need to to be tied on a stake every morning and flogged 24 lashes, so that you will have sense.
Stupid people like you are a threat to Nigeria more than Boko Haram and Bandits

Mynd44 seun Nlfpmod

Richtaiwo:
Mynd44 seun Nlfpmod

But it is the truth you are busy lying to people. Who is worse here? The one lying, which is you or the one telling you the truth which is me.

Believeintruth:
The truth is this our leader are thieves. With proper fiscal management we will never be in this mess.

Okay here is our budget before looting.

30 trillion naira.

Before looting.

Shared among 220 million people it doesn't amount to much.

A country the size of Nigeria needs to generate the kind of money that would give us a budget of at least 200 trillion naira .

That's why our leaders are awful. That and stealing too

To small.We have not proved that we are the giant of Africa

Basicend:
He doesnt have a choice. . How do you continue to tax and country's citizen with $1.1 per capital income at Q4, 2024.

Nigerians are one of the poorest in Africa currently. We are at the base of the ranking now. How much tax do you want to squeeze out of those people again?

The only forward is to fight or undermine corruption in the system, and create alternative revenue stream/s by the side.

Am not sure Tinubu is ready for that sacrifice. So, he will only continue to borrow even to offset reccurent expenditures such as salaries.

Exactly. Therein lies our problem

ibabz:
My brother, $68b might be big now and $1.2b might be small. But let’s look at the value of the two figures 10yrs ago before APC took over. In 2014, I had N10m which was more than $50k. Today that same N10m is now less than $6k. At some point in time, Lagos was making more money than Dubai.

And in 1993, that 10 million would have been worth 5 million dollars. In 1978, that ten million would have been worth 10 million dollars approx.

Our naira has been falling because it is based on the price of oil. Not on manufacturing and production

WeddingParol:
Borrowing sometimes is inevitable for budget financing and infrastructural development so long as the terms are not injurious to the values of the people and inimical to the same economy which warranted the borrowing.

Also, the money must be used for its purposes and the debt servicing ratio should not inhibit the government recurrent spending.

Na so, where are the trillions saved from subsidy removal?

Tomorrow they will blame buhari for borrowing the country into financial bankruptcy

nairalanda1:
And in 1993, that 10 million would have been worth 5 million dollars. In 1978, that ten million would have been worth 10 million dollars approx.

Our naira has been falling because it is based on the price of oil. Not on manufacturing and production

1993 to 2014 is more than 20yrs, but this is in the space of 10yrs. I don’t think our currency has dropped significantly within that short period. I went to Togo in 2014 with 350k. By the time I converted the naira to CEFA, I got over 1m cfa. I was about to buy a car and other stuff from Togo. Togo and Benin Republic are import dependent nations, they import almost everything and their currencies have retained their values for years. Pls don’t tell me our population is our problem, because we have countries with much population and they are doing fine.

ibabz:
1993 to 2014 is more than 20yrs, but this is in the space of 10yrs. I don’t think our currency has dropped significantly within that short period. I went to Togo in 2014 with 350k. By the time I converted the naira to CEFA, I got over 1m cfa. I was about to buy a car and other stuff from Togo. Togo and Benin Republic are import dependent nations, they import almost everything and their currencies have retained their values for years. Pls don’t tell me our population is our problem, because we have countries with much population and they are doing fine.

I have told you the problem. Our currency relies on oil.

Not on exporting manufactured goods and services

nairalanda1:
I have told you the problem. Our currency relies on oil.

Not on exporting manufactured goods and services

How did Obj/Okonjo were able to stabilize the economy for more than a decade? I just want to learn.

ibabz:
How did Obj/Okonjo were able to stabilize the economy for more than a decade? I just want to learn.

They didn't. The economy was still bad. Most were still poor.

nairalanda1:
They didn't. The economy was still bad. Most were still poor.

I don’t know what you meant by “most”. The minimum wage then was over $100.

Proudlyngwa:
I am saying Nigerians still have the mindset of how military ran the country, that is everything must be provided by the government.

Otherwise paying tax should not be a problem to them.

Forming cooperative should not be a problem to them

Banks giving out loans and grants should not be a problem

Electricity generation by private individuals should not be a problem.

But No to 90% of Nigerians, Government must provide this.
This is the mentality military left with us and with that mentality we can't move a step forward

Its govt responsibilities to prpvide all those things for thr people. People in the US still rely on national grid. china still subsidizes everything. Qatar citizens doesn't pay taxes at all.

Saying govt shouldn't provide anything is saying govt shouldn't do their duties and that's what they're already doing. It's the citizens providing everything for themselves while the govt only loot money and destroy peoples source of livelyhood

nairalanda1:
LOL...overtax kini?

80% Of government revenue comes from oil. Less than 20% comes from other sources, including taxes. Add the fact that we rely on oil revenue from 1.3 MILLION Bpd...which would make sense if we were less than 5 million people...and you will see why we borrow.

TO stop borrowing, TInubu has to tax the 70% of Nigerians whose tax does not go to federal and state coffers. That would lead to war....so , the man runs away from reality by borrowing.

That is how all our past leaders have run the country, which led us to a situation on May 29 , 2023, whereby 99% of our revenue was going to debt service, which forced removal of subsides on fuel and dollars. ANd even now tinubu is borrowing, because the real situation would lead to him being voted out next time.

Nigerian leaders are always ready to sacrifice the economy to Molech if it means an extra hour in power.

thats not true Nigeria still gets aids from the US despite not being in war. The govt is already taxing the people. And you're saying they should tax 70%. And you think the 70% don't pay tax one way or the other.

Taxes aren't meant to be over 20% of GDP. Even us has GDP as 16% the rest comes from production. same oil money built Dubai, Qatar, Canada, Libya, even the US still rely on oil.

At the end of the day you can't defend the defendless

princemaths:
thats not true Nigeria still gets aids from the US despite not being in war. The govt is already taxing the people. And you're saying they should tax 70%. And you think the 70% don't pay tax one way or the other.

Taxes aren't meant to be over 20% of GDP. Even us has GDP as 16% the rest comes from production. same oil money built Dubai, Qatar, Canada, Libya, even the US still rely on oil.

At the end of the day you can't defend the defendless

SO, saying we are not charging enough in tax is defending useless government.? OK o.

Oga, I don't think we are on the same wavelength. Good afternoon.

What is the essence of removing fuel subsidy in the first place?
The president still borrow to live large and appoints his co-politicians.