₦airaland Forum

SafariHunter:
He is a Yes man with nothing to offer. By He I mean T.Pain


Over to you T.Pain Bots



Real OG below

TechCapon:
Tinubu will continue to implement their policies because he needs to be collecting their loans... He knows if he doesn't cooperate with them no loans for him and his goons to collect and share

OneOnland:
The people in government don't care about the population. If they did, policy that would both help the country and not impoverish the people through the reduction in purchasing power would have been sought.

I mean, which normal thinking person would want to reduce the purchasing power of an already poor population? It wasn't IMF or World Bank speaking then, it was the Bola Ahmed.

If I would say it, the government is both dullard and also callously dullardic.

Some people say they are hellbent on destroying Nigeria. They are hellbent on killing Nigerians, that's for sure. If NPC was working properly, the statistics on the number of deaths this year alone would make a person ask, 'is catastrophic war ongoing in Nigeria?'

grandstar:
It cost about 10 trillion to provide the subsidy. The government no longer afford it.

To provide means the government would add to the national debt. Servicing the national debt when Tinubu became president gulped 97% of government revenue. A lot of the debt was accrued arose from the petrol subsidy.

How can an economy survive when 97% of revenue goes towards debt servicing?

erad:
Is Sagay also a part of the administration?

grandstar:
It cost about 10 trillion to provide the subsidy. The government no longer afford it.

To provide means the government would add to the national debt. Servicing the national debt when Tinubu became president gulped 97% of government revenue. A lot of the debt was accrued arose from the petrol subsidy.

How can an economy survive when 97% of revenue goes towards debt servicing?

Shikini:
But IMF have since clarified they did not
advise Tinubu.

.

erad:
Is Sagay also a part of the administration?

BarakallahFik:
As-salamu Alaykum, Mu’minina wal Mu’minat
Good morning, my daddies, mothers, brothers, and sisters in Islam.

Please I need your help.

I'm using this medium to appeal to everyone that comes across this post to consider me, please. I'm not going to lie so I can be pitied, so I'll just be completely honest.

I'm here to beg so I can get something to eat. Any good person should help me with anything he or she can; I'll appreciate any amount, please.

I'm begging everyone in the name of Almighty Allah. I've exhausted every option I have, and that's why I'm here now. I have not eaten anything since Wednesday evening. This is due to the fact that I was evicted from where I was squatting. I have been running helter-skelter looking for where I can get a temporary place to stay.

Please, I am totally broke. I don't have any money; I will appreciate it if anyone can help me with any amount just for me to get something to eat today. Please don't let me die of this hunger! I swear to Almighty Allah, I've never done this before, and this is the last thing I want to do, but I have no other option now.

Please have mercy on me and help me.

My bank details are:

Bank: PALMPAY
Account Number: 89 184 22 794
Account Name: Zainab Opeyemi Saliu


May Allah Subhanna Wataala continue to bless you and your family. May you never lack any good things in life. May Almighty Allah continue to protect you and your family. Ameen

If by Zuhr, I don't get help, I will sell my phone. But it will affect me a lot.

symbianDON:
stop making it look like paying subsidy is bad. It is not. Even developed countries pay one subsidy on the other just to make life easier for the people. If government was truly spending so much on petrol subsidy payments, it meant their was a lot of corruption going on that area. It's the corruption that should have been dealt with and not plunging a whole nation in this economic mess we are in today!

lildush:
It wunt survive. But wat measures was put in place before removing the subsidy? No salary increase no reduction of tax. No economic empowerment for business people. Nothing. Den boom u remove subsidy completely. Why not remove 50% of the subsidy and watch how things will be? Tinubu is a wicked man. Tak it or leave it. May his employees and children go haywire and run his business d way he is running Nigeria... Amen

Joshcoli:
Below are examples:

1. Zambia
IMF and World Bank Policies: Implemented SAPs in the 1980s, including currency devaluation, removal of subsidies, and privatization.
Outcome: Economic stagnation, rising poverty, and significant social unrest followed. The reliance on copper exports exacerbated the crisis as global prices fell.

2. Argentina
IMF and World Bank Policies: Adopted neoliberal reforms in the 1990s, including currency pegging, privatization, and austerity.
Outcome: The policies led to a massive economic collapse in 2001–2002, with high unemployment, widespread poverty, and the government defaulting on debt.

3. Greece
IMF and European Central Bank Policies: Imposed austerity measures during the 2010 debt crisis as part of bailout agreements.
Outcome: Severe recession, high unemployment, and public protests. GDP shrank significantly, and the debt burden increased as a percentage of GDP.

4. Jamaica
IMF and World Bank Policies: Adopted SAPs in the 1980s, including devaluation, trade liberalization, and public spending cuts.
Outcome: Economic stagnation, growing debt, and increased inequality. Social services were severely affected, worsening poverty levels.

5. Indonesia
IMF Policies: During the 1997 Asian Financial Crisis, the IMF mandated austerity, removal of subsidies, and liberalization.
Outcome: The policies deepened the economic crisis, causing mass unemployment, inflation, and widespread poverty.

6. Kenya
IMF and World Bank Policies: Adopted SAPs in the 1980s and 1990s, focusing on privatization and reducing public spending.
Outcome: Economic instability, reduced access to healthcare and education, and increased poverty.

7. Ecuador
IMF Policies: Enacted austerity and liberalization in the late 1990s as part of IMF agreements.
Outcome: Banking sector collapsed, unemployment soared, and millions emigrated due to economic hardship.
Similarities to Nigeria:

Policy Elements: Many of these countries, like Nigeria, experienced forced currency devaluation, subsidy removals, and privatization under IMF and World Bank guidance.
Outcomes: Economic instability, increased poverty, and public dissatisfaction often followed.

Lessons:
Structural Challenges: IMF/World Bank policies often fail to account for local economic conditions.
Over-Reliance on Exports: Many countries depended on a narrow range of exports (e.g., oil for Nigeria, copper for Zambia).
Social Impact: Austerity measures disproportionately affect vulnerable populations, reducing access to essential services.

nairalanda1:
Amen o.

But if Tinubu kept subsidy so that fuel would cost N200 per liter, by now, subsidy costs would be eating most of our budget every year.

And to fill in the deficit, we would be borrowing even more

Before all that, we were already spending 97% of our revenue on debt servicing.

You know where this ends....

I hope you have a better curse for our leaders and tinubu when the inevitable happens.

Welcome to real effing life.

Fearurcreeator:
Who you help

surgical:
man put on your thinking cap, stop justifying nonsense

nairalanda1:


The guy is even underestimating the amount that we were spending on subsidy.

Plus, forget corruptiuon. The main koko was that the cost of refining one liter of fuel was always rising. Add the fact that we were not earning enough because there is no way that revenue from even 3 million bpd of crude would be enough for a nation our size. (Saudi does 10 million bpd and still has a large poor underclass )......and subsidy was not sustainable.

Infact for over ten years beforehand we have been borrowing to pay for subsidy. If not longer. When tax to gdp is too low to fund the budget, and revenue from oil is enough for a nation of say 10 million, not 200 million, what do you expect.?


PLus, all those countries that you claim do subsidy

1. DO not do it like we do

2. Charge the kind of taxes that if Tinubu were to charge it in NIgeria, una go call am Satan. ...to fund subsides.

3. Subsides are for the really really poor. Not everyone, the really really poor.

You do not have to support tinubu to realize that subsidy was not sustainable as at May 29 2023. Infact, we have been warned several times since the 1980's that subsidy was not sustainable. We no hear. We no listen. Now cirucmstances have forced our hand.

chinchum:
When Tinubu became president last year i predicted a toughest 18months for him at the start. Nigerians have seen "shege" based on the reforms. What most people visualise when they hear reforms is instant noodles, unfortunately it does not work that way, it typically comes with real hard pain enroute success.

Most past presidents cowardly can not try these reforms because they are thinking of 2nd term or mass revolt. Buhari could no truly remove Subsidy for 8 yrs. Tinubu had to wait for 14 months to truly remove all fuel subsidy however if when navigated properly will birth a new nation. The foundation is relayed to promote productivity, discipline and vision . The budget of Nigeria a country of over 200 million can not afford to be same as a Tier B university in USA and we expect massive development

TechCapon:
Tinubu will continue to implement their policies because he needs to be collecting their loans... He knows if he doesn't cooperate with them no loans for him and his goons to collect and share