₦airaland Forum

Lol. Allocations tripled but inflation quadruple and the citizens income didn't even double

Previous allocation 2b monthly. current allocation 6b monthly after removable of subsidy Inflation at 24.48% eg rice 27k prior subsidy, after susbidy removal rice 75-90k same as other products and items. only savings is from salary which is small. all running cost as per receipt eg vehicle running and mainteance, estacode and hotels, bonuses and allowance, salary at little increase where is the savings claimed. Lets tell ourselves the truth. Governors wont be able to do more as cost of building road is more than 3times before subsidy removal. which savings is available and let the policy makers open there eyes before continuing in this policies and making further policies

Counterigbolies:
tell us what your Messiah will do different in this situation?

Tinubu is an economic disaster, our mistake. Stop diverting attention away from him, this is about him, nobody else

Allocation tripled but you dint tell the how inflation ate it up, cement was less than 4k before may 2023 , now it 9k , naira has lost its value by almost 400% dollar above 1500 from 600

lastmessenger:
The states are recieving triple the amount they received before subsidy removal but don't forget that the value of the naira has been devalued by 100%

400%

CodeTemplar:
Help nairalanders hold their governors accountable by giving it a wider audience please. Most of them have been doing senseless projects that dont generate income or positively impact the ability of their states to earn. Airports, flyovers and funny infrastructures.

ultimately the blame rest squarely on Tunibu's shoulder. For he is quite aware the money will be stolen and squared.

Fuel N1000 per litre
Cement 10k per bag
Rice 100k per bag

And what is the value of the money that is now tripled following the heavy devaluation of the Naira?

CodeTemplar:
Source : Daily Post

Cause of naira devaluation

osuofia2:
Bitter truth
All those who contested in the 2023 general elections promised t removed subsidy.

You, people, are always distracted by the Past
If they all promised a subsidy removal, Tinubu was not clever enough to know, How and When to implement die removal

maasoap:
Tinubu is an economic disaster, our mistake. Stop diverting attention away from him, this is about him, nobody else

no b Igbo u b?

PDP sustained subsidy for 16yrs.

Tinubu removed subsidy but gave the money to corrupt governors which is just as worse.

Tinubu also crashed the value of the naira, evaporating any benefit from the extra allocation going to governors.

Tinubu is extremely incompetent and a monumental failure

CodeTemplar:
Help nairalanders hold their governors accountable by giving it a wider audience please. Most of them have been doing senseless projects that dont generate income or positively impact the ability of their states to earn. Airports, flyovers and funny infrastructures.

LordBiden:
Since the people are not feeling it its better to return the subsidy back.

Another thing is that even tho allocation to governors got trippled,the current exchange rate will make them not achieve much because prices of materials for projects also skyrocketed.

For me I think the subsidy removal thing is ill advised,this are devillish world bank policies.Yaradua and obj all paid subsidies and still ran the country properly.

Instead of removing subsidy while not place a tax on luxury goods or property,or while not tackle oil theft properly instead of taxing the poor.

Come, do you think deeply before saying these things? The country was bankrupt and there was no money to continue paying subsidy. Yet you keep talking about retaining the subsidy. Where would you get the money to retain the subsidy? Have you asked yourself that question?

Naira lost 12 times its value since 2015

IgbuduMonkey:
Allocation (in ₦) to states have tripled while the naira has lost times 4/5 of it's value. The governor's have more money that have no value

Counterigbolies:
tell us what your Messiah will do different in this situation?

Not use the savings of the subsidy removal to buy luxuries and continuing to borrow money instead of creating jobs for productivity and prosperity.
I hope that is simple and straightforward enough for your easy understanding?

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship

Eniitankorede:
Come, do you think deeply before saying these things? The country was bankrupt and there was no money to continue paying subsidy. Yet you keep talking about retaining the subsidy. Where would you get the money to retain the subsidy? Have you asked yourself that question?

Did T-Pain and other politicians ask themselves that question when they are using our money to buy SUVs and other luxuries while we are dying of hunger, starvation and stampedes fighting for palliative food?

Do you think deeply before asking questions

[quote author=NLCreator post=126854133]Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly.

There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers.

Each SUV is said to be valued at N160 million.

The LP had asked members of the party in the national assembly to kick against “wastage”.

While responding to questions during a press conference in Abuja on Monday, the former governor of Anambra said the SUVs are not personal cars of the lawmakers, noting that they are for official use.

“Let me start with the issue of Labour Party members in the house. I have actually discussed this issue with them,” Obi said.

“Surprisingly, I can tell you I heard that these vehicles are official cars. They have to use it. It is meant for office.

“So it is not as if it is their vehicle. They said it is official cars and you are meant to use it while you are in the senate.”

Obi also hinted at contesting for the country’s number one position in 2027, adding that Nigeria deserves dedicated and visionary leaders who will lead the country towards a brighter future.

https://www.thecable.ng/theyre-for-official-use-obi-defends-purchase-of-n160m-suv-for-lawmakers/amp

Journalist: how do you intend to engage members of your party who are members of the house, so that they can stand different.......?

PO: Let me start with the issue of labour party members in the house, have actually discussed this issue with them, surprisingly, I can tell you ,… pic.twitter.com/svybrcY4t3

— Beyond (@chigozie0102) November 7, 2023

]

anonimi:
Not use the savings of the subsidy removal to buy luxuries and continuing to borrow money instead of creating jobs for productivity and prosperity.
I hope that is simple and straightforward enough for your easy understanding?

save all those madness for yourself

I no get time to read rubbish

It shall never be well wit u tinubu.

Counterigbolies:
save all those madness for yourself

I no get time to read rubbish

Thankfully, not all the over 3 million nairalanders desire to perish for lack of knowledge like you.
Thankfully!!!

anonimi:
“The worst illiterate is the political illiterate, he doesn’t hear, doesn’t speak, nor participates in the political events.

He doesn’t know the cost of life, the price of the bean, of the fish, of the flour, of the rent, of the shoes and of the medicine, all depends on political decisions. The political illiterate is so stupid that he is proud and swells his chest saying that he hates politics.

The slowpoke doesn’t know that, from his political ignorance is born the prostitute, the abandoned child, and the worst thieves of all, the bad politician, corrupted and flunky of the national and multinational companies.”

― Bertolt Brecht

Quest7777:
Beyond Subsidy Removal, we should be concerned with what brought us to the point we were unable to sustain the subsidy.

A man who suddenly is unable to drive his kids to school & asks them to trek, will soon reduce their meals from 3 square meals to 2, if he doesn't tackle the root cause of his inability to continue driving the kids to school.

What brought you there is the absolute reliance on oil revenue and neglect of other productive sectors of the economy.

Decidetolive:
Tinubu you lack vision to make Nigeria work. Your economic policies are detrimental to the masses but your urchins keep cheering you up

Cry well well. Subsidy is gone forever

Yes, which is why we should have removed them in 2012.

But you and buhari led Nigerians to say no.

My summary be say this guy na part of the forces of wickedness fashioned against the country.

The fact that he could confidently say this is quite unfortunate and inhumane, considering the Naira has lost soo much of its value that most things have at least doubled in price.

Keep it and I'm sure your sycophants will continue to support you.

ValarDoharis:
PDP sustained subsidy for 16yrs.

Tinubu removed subsidy but gave the money to corrupt governors which is just as worse.

Tinubu also crashed the value of the naira, evaporating any benefit from the extra allocation going to governors.

Tinubu is extremely incompetent and a monumental failure

Tinubu didn't crash Naira value. It was already valueless and was ust being subsidiized for the sake of politics and support. I had to go and was duly yanked off.

IgbuduMonkey:
Allocation (in ₦) to states have tripled while the naira has lost times 4/5 of it's value. The governor's have more money that have no value

This is what i just wanted to type, the money didn't triple in real terms. 2015 budget of any state will buy more with 2025 budget

Counterigbolies:
tell us what your Messiah will do different in this situation?

The same Tinubu instigated protest against GEJ when subsidy could have been removed when dollar was barely 300 naira. But came to office when dollar has tripled in value and removed the same subsidy.

If PDP were still in power, Nigeria would have improved because they'd not be telling Nigerians these lame excuses.

CodeTemplar:
Tinubu didn't crash Naira value. It was already valueless and was ust being subsidiized for the sake of politics and support. I had to go and was duly yanked off.

Why always setting states up for drag as if everything in the Country did not tripple

Price of everything trippled or quadrupled at minimum due to your policies and you expect states to not have increased earnings.

I can bet you that the things that those states could afford with their earnings before the increase they won't be able to afford them now.

Class01:
The same Tinubu instigated protest against GEJ when subsidy could have been removed when dollar was barely 300 naira. But came to office when dollar has tripled in value and removed the same subsidy.

who said Jonathan should b a Mumu that he can't carry out his actions irrespective of external influences?

That seperates a good leader from a Mumu n also not obi that will b withdrawing statement up n down to satisfy his igbobedients

Big, fat lie from Mr. President...

Counterigbolies:
who said Jonathan should b a Mumu that he can't carry out his actions irrespective of external influences?

That seperates a good leader from a Mumu n also not obi that will b withdrawing statement up n down to satisfy his igbobedients

You guys really deserve the kind of leaders you have.

ValarDoharis:
If PDP were still in power, Nigeria would have improved because they'd not be telling Nigerians these lame excuses.

No proof. Why was PDP sent away?