₦airaland Forum

CodeTemplar:
Forex subsidy was unsustainable and there was no way out.

There was no way out but then the aso rock dullard decided on floating the naira SIMULTANEOUSLY!!! Na wa....

CodeTemplar:
Forex subsidy was unsustainable and there was no way out.

And the frequest interventions that this government is doing in the NFEM is not subsidy abi. You people are the easiest to deceive walahi.

Emilokan useless economics just causing pain and hardship everywhere.

veraponpo:
Nigeria just needs to build our real economy by producing things we consume and if possible increase our export.

Once we can do that, the rate of inflation will go down and naira will appreciate in value. What we were having before was a cosmetic growth not built on the fundamental foundation of economic development. It was solely on crude export, fixed exchange rate that skewed towards the elite that had political influence thereby create arbitrage for only a select few. That was not sustainable which was why Nigeria could not meet with its obligations before

Our problem for a long time is the artificial growth we were having.

Let's produce food for our consumption and export, produce textiles we wear and if possible export. We need to reduce our consumption of foreign food and materials and encourage local production. Ina very short time, our economy will grow.

We produce yam, cassava, beans, potatoes, plantain, oranges, cocoa and many more yet these things are expensive in this present day. The increase in fuel price is the major problem we have.

Just imagine all rhe labor Nigerians suffer to save in their account m. Tinubu just came in and useless the money within a very short time.

Inflation should be gradual and not what we are seeing today.

Keeping money in stable foreign currency is still the best option.

GboyegaD:
Have you seen the tax reform bills or you are just swayed by the name? If they keep hiding it from the public shouldn't that be of concern?

it's not a hidden secret Gboyega. It all over the internet.

veraponpo:
Nigeria just needs to build our real economy by producing things we consume and if possible increase our export.

Once we can do that, the rate of inflation will go down and naira will appreciate in value. What we were having before was a cosmetic growth not built on the fundamental foundation of economic development. It was solely on crude export, fixed exchange rate that skewed towards the elite that had political influence thereby create arbitrage for only a select few. That was not sustainable which was why Nigeria could not meet with its obligations before

Our problem for a long time is the artificial growth we were having.

Let's produce food for our consumption and export, produce textiles we wear and if possible export. We need to reduce our consumption of foreign food and materials and encourage local production. Ina very short time, our economy will grow.

U are right but we Nigerians are very wicked when it comes to that,when Buhari said and insisted that we must produce our own rice and jettison the idea of relying on foreign rice,what actually happened?

Local rice went up and almost at per with foreign rice.
No be juju be that?
Same thing is happening with cement. That man is using Nigeria to play and maintain his status on forbes magazine at the detriment of the country.

This year alone,he has increase the price of cement 6times or more than.

May E-BOLA Tinubu and his imbecillicc supporters all die tonight in their dream

GboyegaD:
Stop blaming Buhari for the failure of the current administration. It is the height of irresponsibility.

Stop allowing ur common sense to beclouded by prejudice, it would affect sense of judgement and by extension, affect you in all of ur human endeavours

This is a misleading statement. High VAT reflects rising costs, rising revenue for corporations not the masses.

National Bullshit statistics.

IyaTola:
it's not a hidden secret Gboyega. It all over the internet.

The senate mentioned a 600 page bill in their sittings, the online version has 200 pages. Do you think what is currently online is the full/final version subject to review? If nothing is hidden, i am not sure there should be much disparity in the volume.

post=133319716:
VAT, as a consumption tax, must be distributed in a way that supports less economically developed states to ensure national cohesion and stability

And the Hisbah in Kano will use same National cohesion to destroy alcoholic drinks (people's business) all in the name of religion right?

Fiscus105:
The impact of Buhari cum Emefiele reign,
will be indelible mark on nation, till thy kingdom comes.


How I wish Buhari is Kirikiri maximum prison and suffer few years remaining for him on earth.

Go and sit down

High revenues but low purchasing power, weak naira, high cost of living, low standard of living

ok

Voodoo economics no be anybody mate!

Those figures are deceptive. That's why I don't take serious the talk of governor now getting double or triple of their previous allocation.

For the knowledgeable

veraponpo:
Nigeria just needs to build our real economy by producing things we consume and if possible increase our export.

Once we can do that, the rate of inflation will go down and naira will appreciate in value. What we were having before was a cosmetic growth not built on the fundamental foundation of economic development. It was solely on crude export, fixed exchange rate that skewed towards the elite that had political influence thereby create arbitrage for only a select few. That was not sustainable which was why Nigeria could not meet with its obligations before

Our problem for a long time is the artificial growth we were having.

Let's produce food for our consumption and export, produce textiles we wear and if possible export. We need to reduce our consumption of foreign food and materials and encourage local production. Ina very short time, our economy will grow.

I wish they could combat Insecurity first because those crackheads can't handle the economy, it's very obvious with their numerous propaganda cum policies. Farmers are the bedrock of every nation.

GboyegaD:
Have you seen the tax reform bills or you are just swayed by the name? If they keep hiding it from the public shouldn't that be of concern?

Don't mind them. They are keeping it away from the masses and want the masses to keep quiet. I don't believe Tinubu. That man is too wicked to believe

If Nigerians were not terribly docile, they would have resisted the devaluation of the Naira and the high cost of PMS. It's a shame that they accept whatever is thrown their way by successive heartless governments. The majority of them are suffering yet,they don't see a reason to confront their oppressors; it's indeed a pity! "Suffering and smiling" bunch of fools!

CodeTemplar:
Forex subsidy was unsustainable and there was no way out.

ALL the subsidies are unsustainable...forex, electricity, rice, university education and health, railways and NIPOST and NTA & FRCN, pilgrimage...these are STILL being paid.

The worst part is they don't achieve any goals of the subsidy, only poor quality and scarcity.

Nigeria must scrap ALL subsidies. And STOP printing naira at rates above productivity. In fact the best thing would be to adopt bitcoin in order to eliminate inflation. Or maybe gold backed digital asset of some sort.

Good Luck to Nigerians

Tinubu no understand that English you just speak o.

veraponpo:
Nigeria just needs to build our real economy by producing things we consume and if possible increase our export.

Once we can do that, the rate of inflation will go down and naira will appreciate in value. What we were having before was a cosmetic growth not built on the fundamental foundation of economic development. It was solely on crude export, fixed exchange rate that skewed towards the elite that had political influence thereby create arbitrage for only a select few. That was not sustainable which was why Nigeria could not meet with its obligations before

Our problem for a long time is the artificial growth we were having.

Let's produce food for our consumption and export, produce textiles we wear and if possible export. We need to reduce our consumption of foreign food and materials and encourage local production. Ina very short time, our economy will grow.

Easier said than done.

IyaTola:


The reason the tax reform bill must be implemented otherwise, we would be running in circles.

Mention on country that improved it economy because it increased taxes?

What is these one saying?

What's thrash be dis.

tctrills:
Mention on country that improved it economy because it increased taxes?

You that is talking, do you oay Tax?

IbeOkehie:
ALL the subsidies are unsustainable...forex, electricity, rice, university education and health, railways and NIPOST and NTA & FRCN, pilgrimage...these are STILL being paid.

The worst part is they don't achieve any goals of the subsidy, only poor quality and scarcity.

Nigeria must scrap ALL subsidies. And STOP printing naira at rates above productivity. In fact the best thing would be to adopt bitcoin in order to eliminate inflation. Or maybe gold backed digital asset of some sort.

Good Luck to Nigerians

...and that's down to mismanagement. Power subsidy has replaced petrol and is always rising. Even in darkness. That is corruption. Govt increased the rate and most customers are paying the rate so what is the point of increasing subsidy? It shows you that wherever the money is, corruption will always be there and the solution is to eliminate corruption.

True submission