₦airaland Forum

Obakoolex:
Patiently waiting for the wailing wailers to do their usual business of crying over positive news.

Ekperima

Peakdesign23:
Hmmm.... I don't know if this is good news or bad news.

It's one of his stupid and selfish gimmicks to bribe people and buy people off. Tinibu is just so stupidly selfish. Why does a man his age be this selfish knowing he is coming to the end of life?

No business can thrive in unconducive environment like Nigeria, where there is zero infrastructure, no steady power supply, and the insecurity is insane. Again, no streamlined single database for Nigerians? How do you track people when given fund?

Tell me how one or business can survive in this environment?

While this initiative is commendable, experience has shown that implementation often falls short of expectations. In fact, only those with connections are likely to benefit from this well-intentioned gesture.

This is why the tapWint Structure was created: to ensure that opportunities like these reach the common man. Join us today to build a structure strong enough to hold the government accountable to their promises.

👉 Join us @ https://www.tapwint.com/structure

Obakoolex:
As you no get no mean say we dey same category ode

obo oshi

Peakdesign23:
Hmmm.... I don't know if this is good news or bad news.

The idea of expanding access to credit is a good one, but the notion that this should be through yet another government-run organ is simply terrible. The Nigerian government has never run any commercial enterprises successfully, and the idea that this time will be any different is ridiculous. This new parastatal will end up just like all the others that have been set up since independence, a highly inefficient, corruption-ridden, money-losing vehicle for tribal and nepotistic patronage which fails completely at its official mission of expanding credit access to the masses.

Instead of setting up yet another white elephant, the government would be better advised to stay out of the personal finance arena altogether, and focus instead on providing the prerequisites for the private sector to do a job it has done successfully in so many other countries (including African ones like Kenya). That means making it easy to register for identity documents, lowering the barriers to using electronic payments, and - last but not least - abolishing the insane Land Use Act and passing a law guaranteeing private land ownership, so that millions of rural Nigerians can possess tangible collateral they can borrow against.

FitCorper:
Na im b say we go potentially get credit score system very soon for this our obodo Naija. This government is futuristic in operations. You go borrow reach one stage and if you can’t pay your credit score will be declared “bad” pay up and it will be declared “good”. Omo na Yankee pattern this man bring come Naija.

That’s the way they are able to sustain themselves over there.

It’s a positive development.

jazzman7711:
That’s the way they are able to sustain themselves over there.

It’s a positive development.

Na sense be jazzman

PRINCESSFCFANSs:
Good ,


Anything to benefit The Citizens ,



We will keep supporting you sir,because of our role model princess faith Chukwu ,
even though your enemies are against her ,but she is victorious .



Princess Faith Chukwu

Keep splashing your name all over Nairaland..your senior colleague in ass licking Joe Igbokwe is yet to get patronage 🤪

MamaOghenero:
Most of the comments on the first page of this thread are from different usernames controlled by one person. Useless government of media propaganda.

So you figured 👍👍👍

MamaOghenero:
Ekperima

Afofungbemu

BigboyOJ:
So you figured 👍👍👍

We are smarter than them.

stonemasonn:
Una dey laugh
Una know say Nigerians no dey pay debt.

We need mortgage that can accessible to anyone with income of minimum wage go buy 3 bedroom flat

State and FG should get involve asap

Another rubbish! If you are not connected to the corridor of power don't go looking for such credit because they will never give you. I applied for Nirsal loan during Buhari's government, despite all the money I spent, i was denied the slot. Much later I learnt that politicians nominated their friends and families for the loan. What a bad time to be a Nigerian!

axglide:
Good. He spoke about citizens having access to credit during his campaign. He tinkered it to the ears of Elumelu and Ovia.

He basically wants to bring the Foreign life of Credit to Nigerians.

I think that will reduce poverty and increase the purchasing power of the people.

He can ask Innoson to create millions of mini cars and people can buy with credit, this will strengthen the Naira and avoid importing 17-23 year old cars.

Generally access to credit brings improve in life once the fellow has a source of income

I pray Nigerian will make it work

Ojuntana:
Expand access to CNG

Stop adding audio to audio in terms of promises

If we're to go by the promises and announcements of this administration, Nigeria should be dragging with US in terms of quality of life by now

That's a lie. The promises made clearly pointed to a period of hardship. He clearly said he would:

1. Remove subsidies
2. Float the dollar
3. Widen the tax net

Etc

These are all things he has acted on. Tinubu has kept most of his campaign promises actually, and no he never promised a rosy time either.

Peakdesign23:
Hmmm.... I don't know if this is good news or bad news.

because u no understanding Engrish,
how will u know if it's good or bad

I thought there is a Credit Corp that has never been functional. Why another one?

SmartyPants:
That's a lie. The promises made clearly pointed to a period of hardship. He clearly said he would:

1. Remove subsidies
2. Float the dollar
3. Widen the tax net

Etc

There are all things he has acted on. Tinubu has kept most of his campaign promises actually, and no he never promised a rosy time either.

He promised CNG na audio
He promised rice na audio
He claimed import duty waiver on food na audio
He claimed food security still audio
He claimed he'll bring the dollar down to N300, audio things
I can go on and on
He has kept none of his campaign promises. Removing subsidy was not a campaign promise. Neither was floating naira. Neither did he promise to widen the tax net. Those were not his campaign promise. Go back and read the renewed hope propaganda document before telling lies

Ojuntana:

He promised CNG na audio
He promised rice na audio
He claimed import duty waiver on food na audio
He claimed food security still audio
He claimed he'll bring the dollar down to N300, audio things
I can go on and on
He has kept none of his campaign promises. Removing subsidy was not a campaign promise. Neither was floating naira. Neither did he promise to widen the tax net. Those were not his campaign promise. Go back and read the renewed hope propaganda document before telling lies

https://www.reuters.com/world/africa/nigerias-tinubu-will-remove-fuel-subsidy-deregulate-gas-prices-if-elected-2022-10-21/


One wonders what you actually read if you are not aware of these.

Cho cho cho, ask him next year about this... He would have forgotten...

All 2024 project how many is working ?

0%

Peakdesign23:
Hmmm.... I don't know if this is good news or bad news.

it is good to people who have good credit score and bad to those that have bad credit, that is people wey no dey pay back loans in time and those wey no dey pay back at all at all

FitCorper:
Na im b say we go potentially get credit score system very soon for this our obodo Naija. This government is futuristic in operations. You go borrow reach one stage and if you can’t pay your credit score will be declared “bad” pay up and it will be declared “good”. Omo na Yankee pattern this man bring come Naija.

it's already in place since 2015

omohayek:
The idea of expanding access to credit is a good one, but the notion that this should be through yet another government-run organ is simply terrible. The Nigerian government has never run any commercial enterprises successfully, and the idea that this time will be any different is ridiculous. This new parastatal will end up just like all the others that have been set up since independence, a highly inefficient, corruption-ridden, money-losing vehicle for tribal and nepotistic patronage which fails completely at its official mission of expanding credit access to the masses.

Instead of setting up yet another white elephant, the government would be better advised to stay out of the personal finance arena altogether, and focus instead on providing the prerequisites for the private sector to do a job it has done successfully in so many other countries (including African ones like Kenya). That means making it easy to register for identity documents, lowering the barriers to using electronic payments, and - last but not least - abolishing the insane Land Use Act and passing a law guaranteeing private land ownership, so that millions of rural Nigerians can possess tangible collateral they can borrow against.

It's only a government-related company or development finance house that can take up this role, because patient capital is required - which is to provide a sort of insurance service to the lenders that ensures they get refunded should people default on the loans. It's a great idea, in my opinion, because it'll encourage the banks/lenders to take more risks by providing more credit to people/SMEs. However, the main issue now is the inflation rate and MPR rate; unless both come down significantly, the cost of borrowing will still remain high.

SmartyPants:
https://www.reuters.com/world/africa/nigerias-tinubu-will-remove-fuel-subsidy-deregulate-gas-prices-if-elected-2022-10-21/


One wonders what you actually read if you are not aware of these.

Is it in the renewed hope manifesto

Meanwhile from this your link, these are other promises listed. Show us whether they are audio or not

Ramp up oil production in six months
Fuel subsidy to be phased out
New loans only for projects that are self-generating
End insecurity
Create anti-terrorist battalion
Better equipment for the military

OChimex:
It's one of his stupid and selfish gimmicks to bribe people and buy people off. Tinibu is just so stupidly selfish. Why does a man his age be this selfish knowing he is coming to the end of life?

No business can thrive in unconducive environment like Nigeria, where there is zero infrastructure, no steady power supply, and the insecurity is insane. Again, no streamlined single database for Nigerians? How do you track people when given fund?

Tell me how one or business can survive in this environment?

Why are Nigerians so pessimistic and ignorant?

A credit score system will help reduce poverty by a long way. In fact, its one of the main benefits if living abroad as long as you have a source of income.

Mortgages, car loans, etc. and you can spread the payment for years.
Imagine instead of paying excessive Lagos rent yearly, you actually get a house and pay it as mortgage for 30 years but it's becomes yours especially for people who cant save enough to buy a house. It's a brilliant move.

Everyone who has a bank account has BVN and your financial history is tracked with that.

Great100000:
Source: https://www.reuters.com/world/africa/nigeria-expand-credit-access-citizens-2025-01-01/

Very good initiative. Just like obtainable overseas

Ojuntana:
Is it in the renewed hope manifesto

Meanwhile from this your link, these are other promises listed. Show us whether they are audio or not

Ramp up oil production in six months
Fuel subsidy to be phased out
New loans only for projects that are self-generating
End insecurity
Create anti-terrorist battalion
Better equipment for the military

I never said it was in the manifesto. That was a strawman you created for yourself. Most of your questions are ridiculous as the answers are a single google search away.

1. https://www.reuters.com/business/energy/nigeria-lifts-oil-production-18-mln-barrels-per-day-2024-11-14/
2. The answer is obvious
3. Not yet
4. Significant progress is being made. Fulani herdsmen attacks were drastically reduced, while the military has significantly ramped up th fight against bandits and ISWAP resulting in significant victories.
https://globalinitiative.net/analysis/what-the-killing-of-bandit-kingpin-sububu-means-for-stability-in-nigerias-north-west/
https://www.genocidewatch.com/single-post/eight-bandit-warlords-killed-by-nigerian-army
https://english.news.cn/20241118/88f6925328d041498411421886126a49/c.html
https://www.macaubusiness.com/nigerian-troops-kill-top-bandit-leader/
5. Not yet
6. Obviously.
https://www.voanews.com/a/nigeria-announces-plans-to-acquire-50-military-aircraft/7662588.html https://www.defenceweb.co.za/aerospace/aerospace-aerospace/nigerian-air-force-acquires-ex-french-alpha-jets/ https://www.military.africa/2024/10/delivery-timeline-set-for-nigerias-m-346fa/
https://thedefensepost.com/2024/06/11/nigerian-army-tactical-vehicles/
https://www.janes.com/osint-insights/defence-news/land/nigerian-military-receives-first-locally-produced-mengshi-vehicles / https://www.defenceweb.co.za/land/land-land/nigerian-army-acquires-tares-armoured-vehicles/


The state of your lack of awareness of these basic issues is shocking. Frankly, you lack the legitimacy to comment on these issues.

axglide:
Good. He spoke about citizens having access to credit during his campaign. He tinkered it to the ears of Elumelu and Ovia.

He basically wants to bring the Foreign life of Credit to Nigerians.

I think that will reduce poverty and increase the purchasing power of the people.

He can ask Innoson to create millions of mini cars and people can buy with credit, this will strengthen the Naira and avoid importing 17-23 year old cars.

Generally access to credit brings improve in life once the fellow has a source of income

Aptly said

FitCorper:
Na im b say we go potentially get credit score system very soon for this our obodo Naija. This government is futuristic in operations. You go borrow reach one stage and if you can’t pay your credit score will be declared “bad” pay up and it will be declared “good”. Omo na Yankee pattern this man bring come Naija.

like the iimport duty waver of food and other goods after more than 6 months i5 has not been implemented

Great100000:
Source: https://www.reuters.com/world/africa/nigeria-expand-credit-access-citizens-2025-01-01/

All part of the final stance. Following the dictates of teh poppetters to prepare the nation for what is to come (one world government)

Noblemanonpoint:
Why are Nigerians so pessimistic and ignorant?

A credit score system will help reduce poverty by a long way. In fact, its one of the main benefits if living abroad as long as you have a source of income.

Mortgages, car loans, etc. and you can spread the payment for years.
Imagine instead of paying excessive Lagos rent yearly, you actually get a house and pay it as mortgage for 30 years but it's becomes yours especially for people who cant save enough to buy a house. It's a brilliant move.

Everyone who has a bank account has BVN and your financial history is tracked with that.

Una problems be say, una go just open mouth waaa without actually thinking.
I live abroad, and i can tell you they have credit systems because they have enabling environment which nigeria doesn't have.
Most Nigerians are criminal by default, 90 percent will default.
There must honesty before credit system work, which Nigerians don't have. I talk from experience being a trader before.
Nigeria has no database, nobody can be traced. How do you recover the money?
Overseas where they have credit system, for individuals and businesses, they don't have the infrastructure deficeit, insecurity, and lack of power.
When will most of you guys become logical beings?
I have a BSc in Economics, before you implement any policy, it has to be peculiar to the environment, not because others are doing it.
And my point is, get the enabling environment in place first before introducing credit system, if not it will fail woefully.
I tell people, problems we have in Nigeria is common sense